United States · United States Congress · 8 March 1989
General Aviation Standards Act of 1989 - Amends the Federal Aviation Act of 1958 (with respect to aviation accident investigations) to apply such Act, with specified exceptions, to any action for damages for harm arising out of a general aviation accident brought against a manufacturer, owner, or operator of a general aviation aircraft, or a person who supports or maintains such aircraft or any other person or governmental entity. Establishes guidelines for uniform standards of liability of general aviation manufacturers for such accidents. States that all actions for harm arising out of a general aviation accident shall be governed by the principles of comparative responsibility. Establishes, with specified exceptions, a limitation of actions period of 12 years from delivery of aircraft or harm-causing part to the purchaser for general aviation civil liability brought against a general aviation manufacturer. Declares admissible as evidence certain income tax and payroll tax liability for purposes of establishing financial harm arising out of a general aviation accident. Permits the award of punitive damages if a claimant establishes by clear and convincing evidence that the harm suffered was the direct result of conduct manifesting conscious, flagrant indifference to safety. Establishes a two-year limitation of actions period for actions arising out of such an accident. Confers original jurisdiction upon the Federal district courts, concurrently with State courts, for all civil actions for harm arising out of a general aviation accident. Provides procedures for removal from State to Federal district courts of such actions. Declares that this Act supersedes any State law regarding recovery of damages for harm arising out of a general aviation accident. Declares the intent of the Congress that sanctions be strictly enforced for violations of Rule 11 of the Federal Rules of Civil Procedure, including orders to pay to the other party the reasonable costs of legal fees. Requires the Secretary of Transportation to report to the Congress, within one year after the date of enactment of this Act, the results of a study determining whether persons awarded damages for general aviation accidents under this Act are unable to collect such damages, and the amount of any uncollectible damages.
United States · United States Congress · 8 March 1989
Nuclear Decommissioning Reserve Fund Act of 1989 - Amends the Internal Revenue Code to: (1) decrease from 34 percent to 15 percent the rate of the tax imposed on the income of any Nuclear Decommissioning Reserve Fund; and (2) remove restrictions on permitted investments of Fund monies.
United States · United States Congress · 8 March 1989
Designates September 15, 1989, as National POW/MIA Recognition Day. Recognizes the National League of Families POW/MIA flag as the official symbol of the United States' commitment to resolving the fates of Americans still prisoner or missing in action in Southeast Asia.
United States · United States Congress · 7 March 1989
Amends the Internal Revenue Code to eliminate the age (55 or older) and dollar ($125,000) restrictions with respect to the one-time income tax exclusion of gain on the sale of a principal residence.
United States · United States Congress · 6 March 1989
Financial Institutions Reform, Recovery and Enforcement Act of 1989 - Title I: Purpose - Specifies the purposes of this Act, including regulatory reform, the establishment of an independent insurance agency to provide deposit insurance, and the provision of improved supervision and enhanced enforcement powers. Title II: Federal Deposit Insurance Corporation Authorities and Responsibilities - Amends the Federal Deposit Insurance Act to authorize the Federal Deposit Insurance Corporation (FDIC) to insure deposits held at savings associations as well as commercial banks. Increases the membership of the FDIC's Board of Directors from three to five members. Specifies that the additional two members shall be the Chairman of the Federal Home Loan Bank System and a citizen appointed by the President, by and with the advice and consent of the Senate. Revises certain definitions for the purposes of the Federal Deposit Insurance Act. Specifies that the term "insured deposit" shall include any liability which constituted an "insured account" within the meaning of the National Housing Act prior to the enactment of this Act, provided certain conditions are met. Specifies that the Federal Home Loan Bank System (FHLBS) shall be considered the appropriate Federal banking agency in the case of a savings association or a savings and loan holding company. Includes within the definition of "savings association" any institution that was supervised by the Federal Savings and Loan Insurance Corporation (FSLIC) prior to the enactment of this Act, a Federal savings and loan association or Federal savings bank, or a building and loan, savings and loan, homestead association, or a cooperative bank organized and operated under State law, or a corporation that the FDIC considers to be operating substantially in the same manner as a savings and loan association. Provides that every FSLIC insured savings association shall continue to be insured by the FDIC without application or approval. Provides that whenever a financial institution files an application or notice for membership with, or to commence or resume business with, the appropriate Federal banking agency, such agency must provide such application to the FDIC for comment. Requires such agency to take the FDIC's comment into account in deciding whether to grant the application. Provides that certain State financial institutions shall continue as insured institutions. Allows any Federal savings association authorized to do business by the FHLBS to become an insured financial institution upon the filing of an application with the FDIC together with a certificate issued by the FHLBS, unless insurance is denied by the FDIC. Sets forth procedures for the FDIC to evaluate such an application. Specifies the factors to be considered in granting or denying insurance coverage. Requires the FDIC to notify the FHLBS if such insurance coverage is denied, and to give specific reasons in writing for such denial. Requires every noninsured financial institution which becomes insured by the FDIC to pay any entrance fee prescribed by FDIC regulations. Requires that such fee be credited to either the Bank Insurance Fund (BIF) or the Savings Associations Insurance Fund (SAIF) depending on which fund the institution joins. Prohibits any insured financial institution from participating in any type of conversion transaction which would result in a change of membership from one such fund to the other without the approval of the FDIC. Places a five-year moratorium on the approval of such conversion transactions, except in limited circumstances. Requires financial institutions which participate in such conversion transactions to pay specified entrance and exit fees. Provides that whenever the FDIC incurs a loss in connection with the default of an insured financial institution, or in connection with providing assistance to an insured financial institution in danger of default, any other commonly-controlled insured financial institution shall be liable to the FDIC and on request shall reimburse the FDIC for any such loss. Specifies the method of calculating such liability. Sets forth procedures for imposing and collecting such liability. Limits the rights of any third parties in such proceedings. Provides that for a five-year period no BIF members shall be held liable for the default of a SAIF member and no SAIF members shall be held liable for the default of a BIF member. Defines "commonly-controlled" for purposes of determining such liability. Adds as a factor to be considered by the FDIC in evaluating applications for insurance coverage the risk presented to the Deposit Insurance Fund (DIF), the BIF, and the SAIF. Allows the FDIC, after reaching agreement with the other Federal banking agencies, to require insured financial institutions to file additional reports for insurance purposes. Requires the FDIC to set the assessment rate for insured financial institutions annually. Specifies that the annual assessment rate for BIF members shall be determined independently from the annual assessment rate for SAIF members. Prescribes the assessment rates for BIF members for 1989, 1990, and 1991 onward. Prescribes the assessment rates for SAIF members through 1990, for 1991 through 1993, and for 1994 onward. Allows the FDIC to raise or lower such assessment rates under specified circumstances. Limits any increase in the assessment rate to 50 percent over the annual assessment rate of the prior year. Specifies that such assessments shall be paid semiannually. Allows assessment credits to BIF members and SAIF members for years in which the ratio of the net worth of such funds to the value of insured deposits reaches a certain level. Specifies that such a credit shall be applied to the assessment becoming due for the next semiannual assessment period. Extends the provisions of the Change in Bank Control Act to savings associations as well as banks. Includes as an additional corporate power of the FDIC the authority to define any terms used in the Federal Deposit Insurance Act that are not specifically defined and to interpret the definitions of any terms that are not defined. Grants the FDIC the same authority to examine insured savings associations and to insure the deposits held at savings associations as it presently has with respect to insured banks. Establishes two insurance funds (the Bank Insurance Fund (BIF) and the Savings Associations Insurance Fund (SAIF)) to be used by the FDIC to carry out the insurance purposes of this Act. Specifies that such funds are both to be operated and administered by the FDIC. Requires such funds to be separately maintained and not commingled. Specifies that the BIF shall consist of the assets of the Permanent Insurance Fund and all amounts assessed of BIF members. Specifies that the SAIF shall consists of all amounts assessed of SAIF members (which are not required for the Financing Corporation or the Resolution Funding Corporation pursuant to this Act) and of funds provided by the Secretary of the Treasury according to a specific schedule for FY 1991 through 1999. Authorizes the Secretary to provide additional amounts for such fund if the minimum net worth of the fund falls below a certain level. Authorizes appropriations for such funds. Authorizes the FDIC to borrow funds for the use of the SAIF. Provides that such borrowings shall be a direct liability of the SAIF and shall be subject to certain limitations. Revises and defines the authorities and duties of the FDIC as the receiver or conservator for insured Federal financial institutions and for insured State financial institutions. Specifies that all insurance payments made on account of a closed bank or insured branch of a foreign bank shall be made only from the Bank Insurance Fund and all payments made on account of a closed savings association shall be made only from the Savings Association Insurance Fund. Provides that when the FDIC pays insurance to a depositor, the FDIC shall be subrogated to the depositor's claim against the financial institution. (Such right of subrogation now applies only to national banks.) Revises and defines the authorities and duties of the FDIC in the establishment of bridge banks in cases of failed or failing financial institutions. Authorizes the FDIC to use such bridge banks in the case of failed or failing financial institutions as well as banks. Increases from one to three the number of times a bridge bank may be granted a one-year extension of its corporate existence. Revises procedures for the termination and dissolution of bridge banks. Sets forth the method and procedures for the valuation and determination of claims by third persons against financial institutions in default. Establishes the FSLIC Resolution Fund (Fund). Specifies that such Fund shall be managed by the FDIC and shall be separately maintained and not commingled. Transfers to such Fund the reserves and assets, debts, obligations, contracts, and other liabilities of the FSLIC existing on the date of the dissolution of the FSLIC. Provides that such Fund shall be funded by: (1) income generated on the assets transferred to it; (2) proceeds of the resolution of insolvent thrift institutions which became insolvent prior to December 31, 1988 (to the extent such funds are not required by the Resolution Funding Corporation); (3) the proceeds from borrowings by the Financing Corporation; and (4) assessments on SAIF members levied prior to December 31, 1991, and not required by the Financing Corporation or the Resolution Trust Corporation. Provides for additional funding by the Secretary of the Treasury from appropriated funds in the event such other funds are insufficient. Limits any judgment resulting from a civil action against the FSLIC or the FDIC to the assets of such Fund. Dissolves such Fund upon the satisfaction of all debts and liabilities and the sale of all assets acquired in case resolutions. Requires that any funds remaining in such Fund be covered into the Treasury. Requires that any funds held in either the BIF or the SAIF must be invested in U.S. Government obligations or in obligations guaranteed by the U.S. Government. Requires that the funds from the BIF and the SAIF be invested separately and not commingled. Allows the FDIC to request a 90-day stay of any legal proceedings to which it becomes a party due to its acquisition of any asset or in the exercise of certain authorities. Requires the FDIC, in determining whether to provide assistance to financial institutions, to consider: (1) the immediate and long-term obligations of the FDIC with respect to such assistance; and (2) the Federal tax revenues which would be foregone. Provides that transfers of assets or liabilities associated with any trust business may be effected by the FDIC in connection with any asset purchase transaction without any further State or Federal approval. Revises provisions relating to certain agreements against the interests of the FDIC. Specifies that the Board of Directors of the FDIC may act by a 75 percent vote (current law requires a unanimous vote) in order to override a State's objection to an assisted interstate acquisition of an insured financial institution in default having $500,000,000 or more in assets. Revises certain rules relating to the interstate acquisitions of banks. Establishes separate rules relating to the interstate acquisitions of savings associations. Increases the borrowing authority of the FDIC from $3,000,000,000 to $5,000,000,000. Makes such borrowing authority subject to the approval of the Secretary of the Treasury. Limits any State or local tax penalties to which the FDIC may be subjected when acting as a receiver or conservator of a financial institution. Limits the borrowing of both the BIF and the SAIF to 50 percent of net worth or $10,000,000,000, whichever is less. Requires the FDIC to report to the Congress annually regarding its operations, activities, budget, receipts, and expenditures. (Current law requires an annual report regarding only the FDIC's operations.) Requires the FDIC to make quarterly reports to the Secretary of the Treasury and to the Office of Management and Budget with respect to the FDIC's financial operating plans and forecasts. Requires signs displayed by insured financial institutions to represent whether an institution is a BIF member or a SAIF member. Makes all insured financial institutions subject to the Bank Merger Act. Makes the FHLBS the responsible agency with respect to mergers where the acquiring, assuming, or resulting institution is to be a savings association. Provides that all insured State financial institutions, other than State member banks or district banks, would be subject to the requirement of prior FDIC consent to the reduction of capital. Requires any insured savings association which establishes or controls a new company or elects to conduct any new activity to notify the FDIC and the FHLBS. Requires such a savings association to deduct its investments in, and loans to, such company from its own capital for purposes of determining capital adequacy if the company is engaged in activities not permissible for a national bank. Grants the FDIC and the FHLBS certain enforcement powers with respect to any company controlled by an insured savings association. Authorizes the FDIC to determine activities which are incompatible with deposit insurance. Revises the statement of the policy of nondiscrimination against State nonmember banks under the Federal Deposit Insurance Act to include State savings associations. Eliminates the requirement of nondiscrimination on account of an institution having capital stock of less than the amount required for Federal Reserve membership. Title III: Savings Association Supervision Improvements - Amends the Home Owners' Loan Act of 1933 to specify the duties and responsibilities of the FHLBS with respect to the examination, supervision, and regulation of savings associations. States that such authorities are intended to encourage savings associations to maintain their role of providing credit for housing in a manner consistent with principles of safe and sound operation. Requires the FHLBS to prescribe accounting and disclosure standards for all savings associations. Provides that such standards shall incorporate generally accepted accounting principles to the same degree such principles are used to determine compliance with the rules and regulations of other Federal banking agencies. Requires that the rules, regulations, and policies of the FHLBS governing the operation of savings associations shall be no less stringent than those of the Comptroller of the Currency. Transfers specified provisions of the National Housing Act to the Home Owners Loan Act of 1933. Makes certain conforming name changes and certain technical amendments. Requires the FDIC to be appointed the receiver of insured State savings associations under certain circumstances. Requires insured State savings associations, as well as Federal savings associations, to abide by the rules of the FHLBS when converting from mutual to stock form or from stock to mutual form. Requires the FHLBS to establish for all savings associations capital standards that are no less stringent than those applied to national banks. Allows such capital standards to include goodwill as a component of capital. Specifies that in determining capital adequacy, any investments in, and loans to, a subsidiary engaged solely in mortgage banking activities shall not be deducted from the capital of savings associations. Requires that such capital standards must be fully implemented no later than June 1, 1991. Repeals specified provisions of the Home Owners' Loan Act of 1933 and the National Housing Act which provide capital forbearance to certain insured savings associations. Allows those savings associations operating under a capital forbearance plan previously approved pursuant to such provisions to continue to operate under such plans, provided such associations continue to adhere to such plans and continue to submit required reports. Provides that the expense of the examination of savings associations or their affiliates shall be assessed by the FHLBS upon savings associations in proportion to their assets or resources. Specifies procedures for making such assessments and remedies in cases where an affiliate refuses to pay examination costs, permit examination, or provide required information. Transfers provisions of the National Housing Act concerning the regulation of savings and loan holding companies to the Home Owners' Loan Act of 1933. Makes certain technical amendments to such provisions. Imposes certain sanctions upon savings associations that fail to achieve or maintain qualified thrift lender status. Requires such a savings association to convert its charter to a bank charter within three years unless it requalifies within one year. Prohibits such a savings association from engaging in certain activities until such conversion is complete. Treats a holding company which controls such a savings association as a bank holding company for all purposes of the Bank Holding Company Act of 1956. Charges an insurance fund exit fee upon such a conversion. Makes applicable to savings associations certain provisions of the Federal Reserve Act relating to transactions with affiliates and loans and extensions of credit to directors and controlling persons. Prohibits any savings association from carrying on any sale, plan, or practices or any advertising in violation of regulations promulgated by the FHLBS. Title IV: Dissolution and Transfer of Functions, Personnel, and Property of Federal Savings and Loan Insurance Corporation - Terminates the Federal Savings and Loan Insurance Corporation (FSLIC) 60 days after the enactment of this Act. Provides that all insurance and receivership functions previously performed by the FSLIC shall be performed by either the FDIC or the Resolution Trust Corporation. Provides for the continuation and enforcement of all rules, regulations, and orders of the FSLIC. Provides for the transfer of the personnel and property of the FSLIC to the FDIC and FHLBS. Requires the FSLIC to submit a written report of a final accounting of its finances and operations to the Secretary of the Treasury, the Office of Management and Budget, and the Congress immediately prior to its dissolution. Title V: Financing For Thrift Resolutions - Subtitle A: Resolution Trust Corporation - Establishes the Resolution Trust Corporation (RTC). Specifies the purposes of the RTC as: (1) carrying out a program to manage and resolve cases involving institutions insured by the FSLIC for which a receiver or conservator has been appointed or is appointed within three years following the enactment of this Act; (2) managing the assets of the Federal Asset Disposition Association (FADA); and (3) performing other authorized functions. Provides that the RTC shall have the same case resolution and financial assistance rights and powers as the FDIC. Specifies that the RTC shall not have the authority to obligate the FDIC or its funds and shall be subject to the same limitations as the FDIC in connection with providing assistance to, or liquidating or otherwise resolving cases involving, insured institutions. Establishes the Oversight Board of the RTC which shall consist of the Secretary of the Treasury, the Chairman of the Federal Reserve Board, and the Attorney General. Authorizes the Oversight Board to select a chief executive officer for the RTC. Specifies the corporate powers of the RTC. Specifies special powers of the RTC with respect to receiverships, conservatorships, and oversight of the institutions for which it is responsible. Requires the RTC to convert the FADA to a corporation or other business entity and to sell, wind down, or dissolve such corporation or entity within 180 days after the enactment of this Act. Authorizes the RTC to issue capital certificates to the Resolution Funding Corporation. Sets forth requirements and limitations concerning such capital certificates. Exempts the RTC from Federal, State, municipal, and local taxation, except taxes on real estate held by the RTC. Authorizes the RTC to remove any legal proceeding to which it may be a party from a State court to the U.S. District Court for the District of Columbia. Provides that any guarantees issued by the FSLIC after January 1, 1989, and before the enactment of this Act shall be converted into obligations, entitlements, and instruments of the RTC. Authorizes the RTC to borrow funds from the Treasury, on terms fixed by the Secretary of the Treasury, up to an aggregate of $5,000,000,000 outstanding at any one time. Subtitle B: Resolution Funding Corporation - Establishes the Resolution Funding Corporation (RFC). Specifies the purpose of the RFC as providing the RTC with the funds necessary to carry out the purposes of this Act. Establishes a directorate to manage the RFC which shall consist of: (1) the director of the Office of Finance of Federal Home Loan Banks; and (2) two members selected from the presidents of the Federal Home Loan Banks. Sets forth administrative provisions concerning the management of the RFC. Sets forth the powers and duties of the RFC. Provides for the capitalization of the RFC by the purchase of capital stock by Federal Home Loan Banks. Specifies the amounts each Federal Home Loan Bank shall invest in the capitalization of the RFC. Provides for additional sources of funds for the RFC. Limits the amount of bonds or similar obligations which the RFC may issue to $50,000,000,000. Provides that the RFC shall pay any interest due on such obligations from proceeds received by the RTC from the liquidation of financial institutions under its management. Provides that the proceeds of obligations issued by the RFC shall be invested in capital certificates issued by the RTC. Grants tax-exempt status to any obligations of the RFC. Terminates the RFC after the date by which all capital certificates purchased by the RFC in the RTC have been retired. Title VI: Thrift Acquisition Enhancement Provisions - Amends the Bank Holding Company Act to allow bank holding companies to acquire any savings association with the approval of the Federal Reserve Board beginning two years after the enactment of this Act. Prohibits the Federal Reserve Board from imposing any restrictions on transactions between a savings association and its holding company affiliates other than those restrictions presently imposed under the Federal Reserve Act. Amends the National Housing Act to allow a savings and loan holding company to hold up to five percent of the voting shares of an unaffiliated savings association or savings and loan holding company. Permits multiple savings and loan holding companies to acquire up to five percent of the voting shares of any non-subsidiary company. Title VII: Federal Home Loan Bank Act System Reforms - Subtitle A: Federal Home Loan Bank Act Amendments - Amends the Federal Home Loan Bank Act to abolish the Federal Home Loan Bank Board (FHLBB) and transfer all power and authority vested in the FHLBB to the Chairman of the Federal Home Loan Bank System (FHLBS). Provides that the FHLBS shall be a bureau of the Department of the Treasury. Provides that the Chairman of the FHLBS shall be appointed by the President, by and with the advice and consent of the Senate. Specifies that the Chairman of the FHLBB shall become the Chairman of the FHLBS. Sets forth administrative provisions concerning employees of the FHLBS. Provides that the FHLBS shall have and may exercise all functions which the FHLBB and the FSLIC exercised and which are not expressly transferred or consolidated into the FDIC or the RTC. Sets forth the procedures and requirements for the election of the Board of Directors of the Federal Home Loan Banks. Authorizes Federal Home Loan Banks to make loans to the Federal Deposit Insurance Corporation, subject to the concurrence of the Chairman of the FHLBS, for the use of the SAIF. Requires the senior supervisory employee of each Federal Home Loan Bank to report to the chief supervisory official of the FHLBS. Provides that such senior supervisory employee may be removed for cause by the Chairman of the FHLBS. Changes the name of the Federal Savings and Loan Advisory Council to the Thrift Advisory Council. Abolishes the Federal Savings and Loan Insurance Corporation Industry Advisory Committee. Subtitle B: Conforming Amendments - Makes specified conforming amendments to the Federal Home Loan Mortgage Corporation Act, the Deficiency Appropriation Act of 1936, the Housing Act of 1948, and the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Title VIII: Bank Conservation Act Amendments - Amends the Bank Conservation Act to revise provisions concerning the appointment of the FDIC as the conservator of a bank. Specifies the conditions under which the FDIC may be appointed as a conservator. Allows an affected bank to seek judicial review of the appointment of a conservator, except in cases where the bank has consented to the appointment of a conservator or the bank's deposit insurance has been terminated. Specifies that the Comptroller of the Currency shall have the exclusive power and jurisdiction to appoint a conservator for the bank. Requires the Comptroller to consult with the FDIC when examining and supervising an ongoing bank for which the FDIC has been appointed conservator, as long as the bank continues operations as an ongoing national bank. Revises provisions concerning the termination of a bank conservatorship. Revises the powers and duties of a conservator. Revises provisions concerning the liability of a conservator for acts performed pursuant to the conservatorship. Specifies that a conservator may be held liable only for acts which are found to be grossly negligent. Allows the Comptroller to indemnify the conservator. Title IX: Regulatory Authority and Criminal Enhancements - Enforcement Powers Improvement Act of 1989 - Subtitle A: Regulation of Financial Institutions - Makes technical amendments to the Federal Deposit Insurance Act with respect to a Federal banking agency's authority to impose sanctions on an "institution-related party" who participates in the affairs of an insured financial institution (both banks and savings associations.) Reduces from 120 days to 60 days the prior notice the FDIC must give of its intention to terminate a financial institution's deposit insurance. Reduces the period during which deposit insurance is continued in such cases from two years to a period of six months to two years at the discretion of the FDIC. Allows the FDIC to temporarily suspend deposit insurance upon a finding that an insured financial institution has no tangible shareholders' equity that qualifies under the capital guidelines or regulations of the appropriate Federal banking agency. Allows the appropriate Federal banking agency to issue cease and desist orders to require affirmative action to correct conditions resulting from certain violations or practices, including making restitution or reimbursement, providing indemnification, rescinding contracts, disposing of loans, or assets, restricting growth of the institution, or providing guarantees against loss. Allows such an order to limit the activities or functions of the financial institution of any institution-related party. Specifies that the FHLBS may exercise cease and desist authority with respect to savings and loan holding companies, any subsidiary of a savings and loan holding company, any service corporation of a savings association, and any subsidiary of any such service corporation. Revises the temporary cease and desist authority of the Federal banking regulatory agencies to delete the requirement that the agency must show a "substantial" dissipation of assets or a "serious" weakening of the condition of the financial institution. Provides that such a temporary order may place limitations on the activities or functions of the financial institution or prohibitions or restrictions on the growth of the institution or any institution-related party. Allows the use of such temporary cease and desist authority when a financial institution's records are so incomplete or inaccurate that the appropriate banking agency cannot determine the financial condition of the institution. Provides that such an order may require the institution to take such action necessary to restore the records to a complete and accurate state. Revises rules concerning the suspension or removal of any financial institution-related party. Deletes the requirement that the regulatory agency must show activity which results in "substantial" financial loss or other damage to the financial institution. Specifies the types of activity to be considered, including activity at any business institution or another financial institution other than the institution in question. (Current law provides for different standards depending on whether the activity took place at another institution or at the particular institution from which removal is sought.) Allows the temporary removal of an institution-related party pending a permanent removal if necessary for the protection of the institution or depositors. Provides that any institution-related party suspended or removed by such an order shall also be suspended or removed or prohibited from participation in the conduct of the affairs of any: (1) insured financial institution; (2) bank holding company or subsidiary; (3) Edge Act corporation; (4) service corporation or subsidiary; (5) savings and loan holding company or subsidiary; (6) federally-insured credit union; and (7) institution chartered under the Farm Credit Act of 1971. Exempts such a person from such industry-wide prohibitions if the appropriate Federal regulatory agency gives prior written approval. Specifies that such authority to proceed against any institution-related party shall not be affected by the resignation, termination of employment, or other separation of such person from an insured financial institution. Increases from $1,000 per day to $25,000 per day the civil penalty for the violation of a cease and desist order or an order for the suspension or removal of an institution-related party. Allows a penalty of up to $1,000,000 per day for violations made with reckless disregard for the safety and soundness of the financial institution. Imposes a $25,000 per day civil penalty (up to $1,000,000 per day in cases of reckless disregard for the safety and soundness of the financial institution) for a violation of: (1) any law or regulation relating to financial institutions; (2) any written condition imposed by the appropriate Federal banking agency in connection with the grant of any application or other request; or (3) any fiduciary duty. Imposes such penalty for any practice which results in a loss to the financial institution or pecuniary gain to the institution-related party. Imposes criminal penalties upon any person who participates in the affairs of any federally regulated financial institution, holding company, or subsidiary after having been suspended, removed from office, or prohibited from participating in the affairs of a financial institution by an order of the appropriate Federal banking regulatory agency. (Current law imposes criminal penalties only for participation in the affairs of the institution from which the person was prohibited, removed, or suspended.) Authorizes the Federal banking agencies to pay rewards for information which leads to a recovery which exceeds $50,000 in criminal fines, restitution, civil penalties, or forfeitures. Limits such a reward to the lesser of 25 percent of the recovery or $100,000. Prohibits a federally-insured financial institution from discharging or discriminating against any employee who provides information to any regulatory authority or to the Department of Justice regarding a possible violation of any law or regulation by the financial institution or its officers, directors or employees. Establishes a civil cause of action for any employee or former employee who believes he has been discharged or discriminated against in violation of such prohibition. Authorizes the FDIC to recommend that the FHLBS take any enforcement actions authorized with respect to any savings association. Requires the FDIC to take such action if the FHLBS does not take such enforcement actions. Increases from $100 per day to a maximum of $1,000,000 per day the penalty for unauthorized participation in the affairs of a financial institution by any person who has been convicted of any criminal offense involving dishonesty or a breach of trust. Makes both the depository institution and the individual involved subject to such penalty. (Current law makes only the depository institution subject to such penalty.) Imposes criminal penalties for the knowing violation of such prohibition, in addition to such civil penalty. Increases from $1,000 per day to $25,000 per day the civil penalty for specified violations of the Federal Reserve Act. Allows a penalty of up to $1,000,000 per day for any such violations made with reckless disregard for the safety and soundness of the financial institution. Amends the Bank Holding Company Act to increase the criminal and civil penalties for violations of such Act. Specifies that both criminal and civil penalties shall be cumulative. Increases the civil penalties for violations of the prohibitions against tying arrangements between subsidiaries of a bank holding company from $1,000 per day to $25,000 per day. Allows a penalty of up to $1,000,000 per day for violations made with reckless disregard for the safety and soundness of the financial institution. Makes similar increases in the civil penalty for refusal to permit examination of a national bank or affiliate and in the general civil penalty authority of the Comptroller of the Currency. Amends the Change in Bank Control Act to increase the civil penalties for violations of such Act from $10,000 per day to $25,000 per day. Allows a penalty of up to $1,000,000 per day for violations made with reckless disregard for the safety and soundness of the financial institution. Deletes the requirement that such a violation must be "willful." Sets forth procedures for the assessment and collection of such penalties. Amends the Bank Protection Act of 1968 to repeal requirements for insured financial institutions to submit reports with respect to security devices and procedures. Increases to $25,000 per day the penalty for national banks, State nonmember banks, Federal Reserve member banks, and bank holding companies which violate reporting requirements. Allows a penalty of up to $1,000,000 per day for violations made with reckless disregard for the safety and soundness of the financial institution. Revises such requirements to prohibit submission of any false, misleading, or incomplete reports or information. (Current law provides penalties only for failure to make required reports.) Subtitle B: Regulation by the Federal Home Loan Bank System - Specifies that the FHLBS shall have examination and supervision authority with respect to Federal savings associations. Requires savings associations to make reports of condition to the FHLBS. Imposes civil penalties of $25,000 per day for failure to submit such reports and for submitting false, misleading, or incomplete reports or information. Allows a penalty of up to $1,000,000 per day for violations of such reporting requirements from reckless disregard for the safety and soundness of a savings association. Increases the civil and criminal penalties for violations of the Savings and Loan Holding Company Act to conform with the penalties for Bank Holding Company Act violations. Provides that all ongoing litigation in which the FHLBB or the FSLIC are parties shall be pursued by either the FHLBS or the FDIC. Authorizes the FHLBS to continue certain pending enforcement actions initiated by the FHLBB or the FSLIC prior to the effective date of this Act. Subtitle C: Credit Unions - Amends the Federal Credit Union Act to revise the enforcement authority of the National Credit Union Administration (NCUA) to conform to the enforcement authorities of the other Federal banking regulatory agencies. Increases the penalties for violations of such Act to conform to the penalties for violations of other banking laws. Subtitle D: Right to Financial Privacy Act - Amends the Right to Financial Privacy Act to specify that the exceptions to the requirements of such Act apply to supervisory agencies of any financial institution, holding company, or any subsidiary of a financial institution or holding company. Specifies that such exceptions extend to: (1) any supervisory agency of financial records or information in the exercise of its supervisory regulatory or monetary functions, including conservatorship or receivership functions; (2) the Federal Reserve or any Federal Reserve bank in the exercise of its authority to extend credit to depository institutions and others; and (3) the RTC in the exercise of its conservatorship, receivership, or liquidation functions. Prohibits a financial institution which has been served a grand jury subpoena relating to possible crimes against financial institutions or regulatory agencies from notifying any customer whose records are sought or any other party about the existence or contents of any subpoena or any information that has been furnished to the grand jury in response to that subpoena. Impose criminal penalties for violations of such prohibition. Subtitle E: Criminal Enhancements - Amends the Federal criminal code to increase the criminal penalties and impose civil penalties for: (1) financial institution bribery; (2) financial institution misapplication and embezzlement; (3) false entries on the books of financial institutions; (4) fraud on a deposit insurer; (5) false statements or overvaluations concerning financial institutions; and (6) financial institution fraud. Sets forth procedures for the imposition of civil penalties and the collection of any such penalties. Specifies that all criminal and civil penalties shall be cumulative. Increases the statute of limitations pertaining to such crimes from five years to ten years. Provides for civil forfeiture and criminal forfeiture of any property derived from proceeds traceable to specified crimes affecting federally insured financial institutions. Amends the Federal Rules of Criminal Procedure to allow the disclosure of certain matters occurring before a grand jury to certain Government attorneys to assist in the enforcement of Federal criminal or civil law. Allows certain other disclosures when permitted by a court. Authorizes appropriations for FY 1989 to the Department of Justice for investigations and prosecutions involving financial institution crimes. Title X: Study of Federal Deposit Insurance and Banking Regulation - Requires the Secretary of the Treasury to study and report to the Congress on the Federal deposit insurance system, including an appropriate structure for the offering of competitive products and services to consumers consistent with standards of safety and soundness. Title XI: Miscellaneous Provisions - Amends the Federal Credit Union Act to delete the requirement that every credit union maintain with the National Credit Union Share Insurance Fund (NCUSIF) a deposit equal to one percent of the credit union's insured shares. Authorizes the National Credit Union Administration (NCUA) to assess an additional insurance premium if the operating level of the NCUSIF falls below a minimum level. Allows a credit union to expense the one percent deposit over an eight-year period. Requires the Comptroller of the Currency, subject to the approval of the Secretary of the Treasury, to fix the compensation of the employees of the Office of the Comptroller of the Currency. Directs the Comptroller to seek to maintain comparability with the compensation at the other Federal banking regulatory agencies.
United States · United States Congress · 6 March 1989
Calls upon the Soviet Union and its allies to withhold further military assistance to the Republic of Nicaragua and to withdraw military advisors and support personnel from that country. Calls upon the Republic of Nicaragua to: (1) reverse significantly the growth of its armed forces; (2) work toward a stabilization of the regional military balance and prevent the introduction of advanced weapon systems; and (3) separate the armed forces from the Sandinista political party.
United States · United States Congress · 2 March 1989
Caribbean Basin Economic Recovery Expansion Act of 1989 - Amends the Caribbean Basin Economic Recovery Act (the Act) to repeal the termination date for duty-free treatment of beneficiary countries. Amends the Harmonized Tariff Schedule of the United States to grant duty-free treatment to articles (not over $600 in value) acquired in a beneficiary country. Increases from $800 to $1200 the personal exemption from customs duties of articles acquired in the U.S. insular possessions and from other countries. Amends the Act to require the United States Trade Representative (USTR), upon request of a beneficiary country, to enter into a bilateral agreement with that country establishing guaranteed access levels for textile products assembled in such country from qualifying fabrics (fabrics formed and cut in the United States and certain fabrics of foreign manufacture which are cut in the United States). Makes such products eligible for duty-free treatment. Provides that textile products that are assembled in a beneficiary country from qualifying fabric and incorporate findings and trimmings of foreign origin are eligible for guaranteed access and duty-free treatment if such findings and trimmings do not exceed 25 percent of the cost of the components of the assembled product. Directs the Secretary of Commerce to establish an advisory committee to provide to the Secretary descriptions of those fabrics that the committee recommends to be included on the list of fabrics likely to be utilized in the manufacture of textile products in beneficiary countries which: (1) are not formed in the United States; or (2) are formed in the United States but are in critical shortage. Expresses the sense of the Congress that the USTR, when negotiating bilateral textile agreements, should seek to obtain greater fairness, transparency, and stability in the administration by foreign countries of their obligations under such agreements, especially in the allocation of export certifications between U.S. and foreign firms. Sets forth provisions concerning "general duty-free quotas" and "national duty-free quotas" with respect to specified articles imported from beneficiary countries. Provides that duty-free treatment provided under the Act shall not apply to: (1) textile and apparel articles; (2) certain leather articles; (3) canned tuna; (4) petroleum and petroleum products; and (5) watches and watch parts. Requires the President to submit a specified report to the Congress every three years. Amends the Harmonized Tariff Schedule of the United States with respect to the allocation of quotas on sugars imported from beneficiary countries. Prohibits the USTR, in allocating any limitation on such imports, from: (1) reducing the percentage allocation made to the Philippines; (2) making an allocation to the Republic of South Africa; and (3) allowing the aggregate of the amounts of the base quota allocations to Caribbean Basin Initiative (CBI) countries for any quota year beginning after December 31, 1988, to be less than 371,449 metric tons, raw value. Requires any allocation for any quota of imported sugar from specified foreign countries for any year to be reallocated on a pro-rata basis among the CBI countries receiving allocations for that year if such allocation is suspended or terminated due to a threat to U.S. national security or foreign policy. Authorizes the President to enter into trade agreements with foreign governments for the purpose of granting compensation if the United States takes specified action inconsistent with its international obligations (including the General Agreement on Tariffs and Trade). Amends the Tariff Act of 1930 to require the International Trade Commission, when making determinations as to material injury with respect to antidumping and countervailing duty cases, to assess cumulatively the volume and effect of imports from a country designated as a beneficiary country under the Caribbean Basin Economic Recovery Act with respect to imports of like products from beneficiary countries. Directs the Commissioner of Customs to implement a pilot preclearance program during FY 1990 and 1991 to assess the extent to which the availability of preclearance operations can assist in the development of tourism in the Caribbean Basin. Prohibits the commencement of such operations unless the Commissioner of Customs and the Commissioner of Immigration and Naturalization make a specified joint certification. Requires the Commissioner to submit to the Congress a report regarding such program.
United States · United States Congress · 2 March 1989
Places additional prohibitions on individuals convicted of felonies in connection with Department of Defense (DOD) contracts. Disallows such individuals from having any contact with defense subcontracts or subcontractors during such prohibition. Prohibits the Secretaries of the military departments from allowing (current law prohibits the approval of) the award of DOD subcontracts to suspended or debarred contractors. Directs the heads of defense agencies, in awarding contracts, to require each subcontractor to certify that he or she: (1) is not, at the time of such award, debarred, suspended, proposed for debarment, or declared ineligible for the award of subcontracts by any Federal agency; and (2) has not been convicted of any felony arising out of a DOD contract during the five years preceding such certification.
United States · United States Congress · 1 March 1989
Federal Law Enforcement Officers Death Penalty Act of 1989 - Amends the Federal criminal code to subject any person who is found guilty of the first degree murder of a Federal law enforcement officer, or certain other Federal officials or employees, to the penalty of death. Establishes procedures for the imposition of the death penalty in such cases. Provides that no person who was less than 18 years of age at the time of the offense may be sentenced to death. Sets forth mitigating and aggravating factors to be considered by the jury in determining whether the death sentence will be imposed. Requires the Government to serve notice upon the defendant a reasonable time before trial or acceptance of a plea that it intends to seek the death penalty, as well as notice of the aggravating factors upon which it will rely. Provides that no presentence report shall be prepared in such cases. Requires a separate sentencing hearing before a jury or the court (upon motion by the defendant) when the defendant is convicted and the Government has filed notice that it intends to seek the death penalty. Allows the Government and the defendant to present any information relevant to a mitigating or aggravating factor without regard to the rules of evidence, but permits information to be excluded where its probative value is substantially outweighed by the danger of creating unfair prejudice, confusing the issues, or misleading the jury. Conditions imposition of the death penalty on a unanimous finding by the jury or, if there is no jury, the court, that: (1) the aggravating factors found to exist sufficiently outweigh any mitigating factor found to exist; or (2) in the absence of a mitigating factor, the aggravating factors alone are sufficient to justify a sentence of death. Specifies that: (1) the jury or the court, regardless of its findings with respect to aggravating and mitigating factors, is never required to impose a death sentence; and (2) the jury shall be so instructed. Requires the court to instruct the jury not to consider the race, color, national origin, creed, or sex of the defendant in its consideration of the death sentence. Directs the court to impose the death sentence upon a finding that such sentence is justified. Establishes procedures for appeal from a death sentence. Requires the court of appeals, upon consideration of the record and the information and procedures of the sentencing hearing, and any special finding, to affirm the decision if: (1) the sentence was not imposed under influence of passion, prejudice, or arbitrariness; and (2) the information supports the special finding of the existence of an aggravating factor. Requires the court to provide a written explanation of its determination. Establishes procedures for the implementation of the death sentence.
United States · United States Congress · 1 March 1989
Imposes a civil penalty upon any person who mails to any individual or group of individuals at their place of residence: (1) any unsolicited sexually oriented advertisement; or (2) any unsolicited obscene, lewd, lascivious, indecent, filthy, or vile article, matter, thing, device, or substance.
United States · United States Congress · 1 March 1989
Amends Federal law to prohibit any State from imposing an income tax on the pension income of any individual who is not a resident or domiciliary of that State.
United States · United States Congress · 1 March 1989
Fairness for Adopting Families Act - Amends the Internal Revenue Code to permit an individual income tax deduction for qualified adoption expenses. Includes as deductible all reasonable and necessary expenses that do not violate a Federal or State law and that are directly related to a legal adoption of any child if the adoption has been arranged by a State, local, or other nonprofit agency, or through a private placement. Excludes the deduction from the two percent floor on miscellaneous itemized deductions. Excludes from an employee's gross income any amounts paid on behalf of the employee by an employer pursuant to a qualified adoption assistance program. Limits both the deduction and the exclusion to $5,000 ($7,000 in the case of an international adoption). Reduces the amount when the taxpayer's income exceeds $60,000. Permits an employer to treat an adoption assistance program as a statutory employee benefit plan, thus making the employer's contributions to such a program tax deductible as business expenses.
United States · United States Congress · 1 March 1989
Amends the Internal Revenue Code to exclude allocations in the nature of patronage dividends when determining net book income of rural telephone and electric cooperatives for purposes of the minimum tax.
United States · United States Congress · 1 March 1989
Amends the Internal Revenue Code to extend through 1992 the period during which qualified mortgage bonds and mortgage credit certificates may be issued. (Under current law, authority for these programs is due to expire as of 1990.)
United States · United States Congress · 28 February 1989
Juan Bautista de Anza National Historic Trail Act - Amends the National Trails System Act of 1968 to include the Juan Bautista de Anza National Historic Trail, extending from Sonora, Mexico, to San Francisco, California, as a part of the System. Authorizes appropriations.
United States · United States Congress · 28 February 1989
Authorizes any person who receives an unsolicited sexually oriented advertisement through the mails to request the Postal Service to order the sender to disclose the source from which the recipient's name or address was obtained. Authorizes the Postal Service to request the Attorney General to apply to a U.S. district court for an order directing compliance.
United States · United States Congress · 23 February 1989
Amends the National Trails System Act to designate as components of the National Trails System: (1) the California National Historic Trail, extending from Independence and Saint Joseph, Missouri, and Council Bluffs, Iowa, to various points in California and Oregon; and (2) the Pony Express National Historic Trail, extending from Saint Joseph, Missouri, through Kansas, Nebraska, Colorado, Wyoming, Utah, and Nevada to Sacramento, California.
United States · United States Congress · 23 February 1989
Amends the Federal Railroad Safety Act of 1970 to direct the Secretary of Transportation to issue regulations prohibiting any railroad employee from leaving either the scene of a railroad accident or such employee's appropriate place of duty (unless warranted because of injury or other urgent circumstances) if the employee: (1) may have caused or contributed to the accident; or (2) has specified responsibilities regarding the accident's aftermath. Sets forth criminal penalties for knowing or willful violation of regulations issued under this Act.
United States · United States Congress · 23 February 1989
Amends title XVIII (Medicare) of the Social Security Act to determine the payments to be made to hospitals under Medicare's prospective payment system on the basis of a blend of hospital-specific rates and a national rate, depending on the degree to which costs vary within specific diagnosis-related groups. Eliminates the urban or rural classification of an area as a consideration in hospital payment determinations. Requires the Secretary of Health and Human Services to: (1) identify relevant labor markets for hospitals; (2) establish a methodology to determine the proportion of hospital costs which are wage-related and compare the hospital wage level in each labor market with the national average hospital wage level; and (3) take into account differences among hospitals in part- and full-time employment patterns.
United States · United States Congress · 22 February 1989
Federal Retirees Fairness Act - Requires Federal agencies to ensure that employee personnel files include information of all Federal employment for retirement purposes within 180 days after an employee begins service with an agency. Requires an agency, if an employee gives at least four months' to one year's notice of intent to retire, to: (1) inform such employee (or, if deceased, the employee's survivors) of any retirement counseling and applicable services; and (2) begin processing disability retirement applications not later than 30 days after the date of the application. Sets forth a schedule for processing applications for retirement deduction refunds and death benefits. Requires the Office of Personnel Management to compile quarterly information on the number of retirement applications submitted by agencies and their timeliness and accuracy. Requires the agency retirement counselor to conduct seminars at least twice a year.
United States · United States Congress · 22 February 1989
Amends the Land Water Conservation Fund Act of 1965 to prohibit use in a fiscal year of amounts in the Land and Water Conservation Fund for acquiring land or waters for the National Wildlife Refuge System if wildlife refuge revenue sharing payments have not been made for the preceding fiscal year by the Secretary of the Interior.
United States · United States Congress · 22 February 1989
Provides for all Federal civilian and military retirees to receive the full cost-of-living adjustment in annuities payable under Federal retirement systems for FY 1990. (Includes benefits payable under the Civil Service Retirement and Disability System, military retirement and survivor benefit programs, the Foreign Service Retirement and Disability System, the Central Intelligence Agency Retirement and Disability System, and railroad retirement programs.)
United States · United States Congress · 22 February 1989
Health Care Savings Account Act of 1989 - Amends the Internal Revenue Code to allow employees and employers, including self-employed individuals, a 60 percent tax credit for contributions to a health care savings account for the benefit of the employee or self-employed individual. Limits total contributions to an account to the aggregate amount of hospital insurance tax paid with respect to the account beneficiary. Describes conditions that must be met by the account. Excludes from the gross income of the beneficiary any account contributions made by an employer. Exempts an account from taxation (except for the tax on unrelated business income of a charitable organization) unless the distributee engages in specified transactions in connection with it. Excludes from gross income any account distributions used to pay the eligible medical expenses of the beneficiary or qualifying spouse. Imposes a ten percent surtax on account distributions used for other than health care purposes or made before the distributee is aged 65 or older. Imposes penalty taxes in connection with: (1) excess contributions or prohibited transactions associated with an account; (2) distributions from an account that reduces a distributee's account level below a specified amount; and (3) failure to effect spousal rollover of an account upon the spouse's death. Imposes penalties for failure to make required reports concerning an account. Amends title XVIII (Medicare) of the Social Security Act to reduce the Medicare benefits of a health care savings account beneficiary by 60 percent of the maximum amount of Medicare-related expenditures that could be reasonably underwritten (by an insurance company) for the average Medicare beneficiary, given certain assumptions. Establishes special rules for individuals who cannot obtain insurance to cover their added deductible at the standard premium rates. Directs the Secretary of Health and Human Services to establish rules in connection with recalculations of deductibles when a qualifying spouse becomes eligible for Medicare. Establishes catastrophic health care expense protection for certain individuals who qualify for Medicare and have met specified contribution requirements with respect to one or more health care savings accounts. Describes conditions under which a qualifying spouse becomes eligible for this protection.
United States · United States Congress · 22 February 1989
Denies most-favored-nation treatment for products from India. Authorizes the President to restore such treatment if he determines, and certifies to the Congress at least 30 days prior to the time such restoration takes effect, that: (1) there are no jailed prisoners who have not been charged with a specific crime and given a fair trail; (2) internationally-recognized human rights groups are being allowed to visit such prisoners; and (3) India has taken steps to curb human rights abuses.
United States · United States Congress · 22 February 1989
Urges the President to initiate consultations with Japan to determine the desirability of negotiations for the purpose of entering into a trade agreement creating a free trade area between the United States and Japan. Specifies limitations and objectives with respect to such negotiations.
United States · United States Congress · 9 February 1989
Title I: National Commission on Natural Resources Disasters - Establishes a National Commission on Natural Resources Disasters to study the effects of natural fire disasters and make recommendations concerning a smooth transition from the loss of natural resources. Directs the Commission to study the effects of such fires on: (1) the economic stability of the affected communities; (2) the availability of sufficient timber supplies to meet future industry needs; (3) fish and wildlife habitats; (4) recreation in the affected areas; (5) the watershed and water quality protection plans in effect within National Forest Systems lands; (6) the ecosystems in the areas; and (7) management plans of the affected National Forest System lands. Requires a report to the Secretary of Agriculture by December 1, 1990. Authorizes the Commission to accept contributions of money and services in carrying out its duties. Authorizes the Secretary, if contributions are insufficient, to transfer to the Commission funds available from the general fund of the Treasury. Terminates the Commission 90 days after submission of its report to the Secretary. Title II: Forest Firefighting Planning and Cooperation - Directs the Secretary of Agriculture to report to the Congress on the rehabilitation needs of each national forest resulting from forest fire damage during the previous year. Requires the Secretary to offer training programs annually to certify volunteers for suppressing forest fires on National Forest System lands. Requires the Secretary to report to the Congress on the local fire emergency mobilization plans for fire fighting equipment in each area of the National Forest System which is prone to forest fires.
United States · United States Congress · 9 February 1989
Postal Reorganization Act Amendments of 1989 - Declares that the receipts and disbursements of the Postal Service Fund: (1) shall not be included in the totals of the Federal budget or the congressional budget; (2) shall be exempt from Federal budget limitations on expenditures and net lending; and (3) shall be exempt from any sequestration order under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) and shall not be counted for purposes of calculating the Federal deficit.
United States · United States Congress · 9 February 1989
Current Level Enhanced Rescission Act of 1989 - Amends the Impoundment Control Act of 1974 to include in any special message the President sends to the Congress in connection with a proposed rescission of budget authority amendatory language to enable the affected programs to continue to function lawfully at the proposed new budget level. Amends the Congressional Budget and Impoundment Control Act of 1974 to authorize the President, on the same day the President approves any appropriation bill, to transmit to the Senate and the House of Representatives one or more special messages proposing to rescind amounts of budget authority included in the bill. Limits: (1) the amounts subject to rescission (the proposal may not reduce a program below its previous fiscal year level); and (2) each special message to one item of budget authority. Prescribes procedures to govern the expedited treatment of such messages in the Senate and the House of Representatives. Makes any proposed rescission amount available for obligation unless both Houses of Congress agree to the bill or joint resolution accompanying the related special message within 60 days of its transmission.
United States · United States Congress · 9 February 1989
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to remove the limitation on the amount of outside income which a beneficiary may earn without incurring a reduction in benefits.
United States · United States Congress · 9 February 1989
Amends the Internal Revenue Code to remove limitations on the deductibility of contributions to individual retirement plans by active participants in employer-maintained plans.
United States · United States Congress · 7 February 1989
Amends the National Trails System Act to extend, through December 31, 1999, the authority of the advisory council established for the Pacific Crest National Scenic Trail.
United States · United States Congress · 7 February 1989
Volunteer Protection Act of 1989 - Prescribes circumstances under which volunteers working for nonprofit organizations or government entities shall be immune from personal financial liability for acts on behalf of the organization or entity. Sets forth exceptions to and conditions on the granting of such immunity that a State may impose. Requires the Secretary of Health and Human Services to increase by one percent the fiscal year allotment which would otherwise be made to a State to carry out the Social Services Block Grant Program under title XX of the Social Security Act if such State has, within two years, certified to the Secretary that it has enacted a State law which provides such immunity. Provides for the continuation of such increase based on an annual recertification.
United States · United States Congress · 7 February 1989
Designates July 27, 1989, as National Korean War Veterans Recognition Day and expresses the gratitude of the Congress and the Nation for the contributions made by the Korean War veterans.
United States · United States Congress · 7 February 1989
Establishes congressional procedures for consideration of special messages submitted by the President proposing to rescind all or part of any item of appropriation provided in an approved appropriation bill.
United States · United States Congress · 6 February 1989
Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to prohibit State or local governments from taxing OASDI benefits.
United States · United States Congress · 6 February 1989
Directs the Comptroller General to conduct an annual audit of the Federal Reserve Board, the Federal Advisory Council, the Federal Open Market Committee, and all Federal Reserve banks and their branches. Requires the Comptroller General, within six months after the end of each fiscal year, to report to the Congress on the results of such audit.
United States · United States Congress · 6 February 1989
Amends Federal law pertaining to the Federal employee health insurance program to allow coverage of an unmarried dependent child between 22 and 23 years of age who is a student regularly pursuing a full-time course of study or training in residence in a junior college, college, university, or comparable recognized educational institution.
United States · United States Congress · 2 February 1989
Establishes the Medicare Geographical Classification Review Board to decide on a rural hospital's application for classification as an urban hospital for Medicare payment purposes. Amends the Omnibus Budget Reconciliation Act of 1987 to alter the Rural Health Care Transition Grant Program to extend and increase authorized appropriations for such program through FY 1992, and permit the Secretary to waive the hospital grant limit. Expands, from four to ten hospitals, a Medicare demonstration program covering additional costs incurred by teaching hospitals in sending their residents to rural hospitals for training. Requires the Secretary to establish five-year Medicare demonstration programs covering costs incurred by five hospitals in providing clinical training to undergraduate nurses. Extends the regional referral center classification of hospitals so classified as of September 30, 1989, and the payment rates applicable to such hospitals under the Medicare program, through FY 1994.
United States · United States Congress · 31 January 1989
Amends Federal law regarding stock-raising homesteads to require a written notice to the surface owner before a person may enter lands for prospecting purposes. Authorizes the search for outcrop or surface exposure or mineral deposits by non-mechanized means, but precludes road construction, or the use of explosives or earth-moving equipment. Sets forth conditions under which plans of operation for mineral exploration and development may be pursued. Authorizes a surface owner to petition the Secretary of the Interior for compensation for damages. Requires the Secretary of the Interior to suspend or revoke the approval of a mining or prospecting plan of operations if the mine operator fails to remedy any plan violations. Sets forth conditions under which treble damages may be awarded to an aggrieved surface owner.
United States · United States Congress · 31 January 1989
National Observance Advisory Act - Establishes the President's Advisory Commission on National Observances to: (1) establish criteria for recommending to the President that a proposed national observance be approved or disapproved; (2) review proposals for national observances submitted in accordance with procedures published by the Commission; and (3) issue recommendations to the President concerning each proposal reviewed.
United States · United States Congress · 31 January 1989
Amends the Internal Revenue Code to allow an income tax deduction for interest on any indebtedness incurred to pay the educational expenses of the taxpayer, spouse, or dependent. (Under current law, such a loan must be secured by an interest in real property.)
![Official portrait of Rep. Shumway, Norman D. [R-CA-14]](https://www.congress.gov/img/member/s000393_200.jpg)