Bill· HRH.R. 5521 (100th)referred
United States · United States Congress · 13 October 1988
Federal Asset Disposition Association Dissolution Act - Amends the National Housing Act to specify that the purpose of the establishment of a new savings and loan association in connection with a liquidation is for such association to operate as an issuer of savings accounts and a lender and investor and not as an institution having the special purpose of managing or disposing of assets acquired from insured institutions in default. Specifies that provisions of the National Housing Act shall not be construed as authorizing the Federal Savings and Loan Insurance Corporation (FSLIC) to organize a new Federal association for the purpose of managing or disposing of any assets: (1) of an insured institution for which the FSLIC has been appointed receiver; or (2) acquired by the FSLIC in order to prevent a default. Authorizes the FSLIC to delegate such liquidation functions to an appropriate regional office. Prohibits the Federal Asset Disposition Association (FADA) from engaging in any new activities after the date of the enactment of this Act. Directs the FSLIC to require FADA to assign all its rights and obligations under any contract to the FSLIC. Requires the FSLIC, within 60 days after the enactment of this Act, to revoke the charter of FADA and assume its assets and liabilities. Prohibits the FSLIC from paying any severance pay to employees of the FADA in excess of specified civil service amounts. Prohibits the FSLIC from taking any action which results in the sale of FADA as a going concern or the reconstitution of the FADA as a private corporation. Specifies that this Act shall not be construed as any recognition or ratification by the Congress of: (1) any authority of the FSLIC to charter FADA; or (2) any authority of FADA to act on behalf of the FSLIC. Requires the FSLIC to prepare and submit to the Congress a report describing: (1) the manner in which the dissolution of FADA was implemented; (2) the results of such dissolution; and (3) FSLIC's actions as the receiver of FADA. Specifies certain information to be included in such report. Requires the FSLIC to take such action as may be necessary to ensure that the FSLIC and all officers and employees of the FSLIC maintain full compliance with the competitive procurement requirements of the Federal Property and Administrative Services Act of 1949. Requires the FSLIC to liquidate the assets of insolvent savings and loan associations in a manner which: (1) minimizes the cost to the FSLIC; (2) maximizes the return which the FSLIC realizes on the assets; and (3) encourages the use of services of persons in the private sector in managing and disposing of such assets to the maximum extent possible. Requires the FSLIC to ensure that no individuals are employed by the FSLIC under personal service contracts except to the extent that such employment: (1) does not exceed 60 days in any one-year period; or (2) is determined to be necessary because of unusual circumstances which do not allow the position involved to be filled by a civil service employee. Provides that the number of asset liquidation personnel employed by the FSLIC shall not be subject to any limitation imposed by any officer of the executive branch who is not an officer of the FSLIC. Imposes a statutory limit on the number of asset liquidation employees that may be employed at any time by the FSLIC. Requires the FSLIC to establish an employment grade structure for asset liquidation employees which is comparable to the grade structure for employees of the Federal Deposit Insurance Corporation (FDIC) who manage or dispose of assets. Requires representatives of specified Government agencies and the private sector to conduct a multiagency study on options for reducing the duplication, overlap, and inconsistency among Federal agencies and instrumentalities and for making better use of private sector resources in managing and disposing of assets. Requires that a report concerning the results of such study be submitted to the Congress within one year after the enactment of this Act.
Bill· HRH.R. 5490 (100th)referred
United States · United States Congress · 6 October 1988
Provides that a named individual is eligible for military retired pay. Directs the Secretary of the Army to pay a specified amount in a lump sum to such individual.
Bill· HRH.R. 5460 (100th)referred
United States · United States Congress · 5 October 1988
Global Warming Prevention Act of 1988 - Establishes as national goals: (1) that the amount of carbon dioxide in the atmosphere be reduced from 1987 levels by at least 20 percent by the year 2005 through a mix of Federal and State energy policies; and (2) the establishment of an International Global Agreement on the Atmosphere by 1992. Requires the Secretary of Energy (the Secretary) and the Administrator of the Environmental Protection Agency to report to the Congress within two years regarding whether a higher level of carbon dioxide emissions reduction is desirable after 2005, together with any necessary policy actions and their costs and benefits. Title I: National Least-Cost Energy Plan - Requires the Secretary to prepare for the President, and transmit to the Congress, a new National Energy Least-Cost Policy Plan in lieu of other authorized national energy plans. Prescribes plan contents. Directs the Secretary to implement such plan immediately following its submission to the Congress. Outlines a program for public involvement in the formulation of the Plan. Directs the Secretary to establish an intervenor funding mechanism based upon certain State models. Grants the Secretary final discretion concerning the commitment of funds. Authorizes appropriations for FY 1990 through 1992. Requires the Secretary to submit a review of all government subsidies for energy-related expenditures to determine if they are consistent with the National Least-Cost Energy Plan. Amends the Department of Energy Organization Act to repeal the National Energy Policy Plan. Title II: Energy Efficiency - Directs the Secretary to grant the highest priority to energy efficiency improvements in: (1) energy-consuming devices; (2) federally owned and leased buildings and equipment; (3) federally assisted housing; and (4) the Federal vehicle fleet. Mandates that the President's budget request for FY 1990 through 1994 include the Secretary's recommendations regarding the increased efficiency of energy-consuming devices. Directs the Secretary to establish an Energy Research Advisory Board Panel on end-use energy technologies. Requires the Panel to submit an annual report to the Energy Research Advisory Board regarding its assessment of promising energy efficiency research and development opportunities and policies. Requires the Secretary to submit to the Congress: (1) a long-term research and development plan that accelerates by five years the current Department of Energy multiyear program goals for energy efficiency; and (2) an estimate of the funding increase needed to achieve such accelerated goals. Authorizes appropriations for FY 1990 through 1992. Directs the National Bureau of Standards to provide financial assistance, in consultation with the Department of Energy, to ten research centers to achieve multiple improvements in energy-intensive industrial and manufacturing processes. Sets forth an operations timetable for such centers. Authorizes appropriations for such centers for FY 1990 through 1992. Directs the Secretary to: (1) establish energy efficiency goals resulting in specified primary energy savings for federally owned or leased buildings, as well as federally assisted housing; and (2) include the use of renewable forms of energy within the energy efficiency options for such buildings. Authorizes appropriations for such program for FY 1990 through 1992. Directs the Secretary to establish a technical assistance program to support utilities and local and State governments in adopting building labeling and information programs. Requires the Secretary to report the results of such programs to the Congress. Authorizes appropriations for such program for FY 1990 through 1993. Mandates that certain institutions which offer federally assisted home mortgage loans integrate funding within such loans for cost-effective energy efficiency improvements based upon a home energy audit and rating scheme. Directs the Secretary to promulgate energy efficiency standards for incandescent and fluorescent lamps and windows. Requires the Secretary to: (1) implement a research, development and demonstration program on technologies to reduce chlorofluorocarbon use; (2) report to the Congress on the projected impact of certain chlorofluorocarbon production restrictions; (3) expand the Department of Energy's existing technology transfer initiative on least-cost electric utility planning; and (4) implement a least-cost gas utility initiative. Requires the Secretary of Transportation to: (1) establish an evaluation program regarding car-pooling arrangements and high-occupancy vehicle lanes; (2) report to the Congress on nonmotorized transportation alternatives, as well as a fuel-savings mass transportation assistance program for State and local governments. Requires such Secretary to report to the Congress on the use of Highway Trust Fund moneys for non-motorized transportation alternatives and for carbon-dioxide emissions reductions. Directs the Federal Energy Regulatory Commission to: (1) take certain prescribed actions to ensure the adoption of least-cost utility planning principles; and (2) detail for the Congress any amendments to the Federal Power Act which are necessary for the Commission to adopt such planning principles. Requires the Secretary of Energy to report to the Congress on the results of a national power survey emphasizing policies and technologies within the electric utility industry which are designed to diminish global warming. Amends the National Energy Conservation Policy Act to repeal the prohibition against the supply or installation by a public utility of a residential energy conservation measure for residential customers. Amends the Federal Power Act to add new definitions regarding "qualifying efficiency." Amends the Public Utility Regulatory Policies Act of 1978 to direct the Federal Energy Regulatory Commission (FERC) to prescribe within one year after the date of enactment of this Act rules encouraging the achievement of qualifying efficiency. Mandates that such rules: (1) require that electric utilities offer to purchase qualifying conservation from qualifying cogeneration or small power production facilities; and (2) provide for the verification of conservation achievement. Prescribes rate guidelines for such electric utilities purchases. Title III: State Energy Conservation Program - Amends the Energy Policy and Conservation Act to mandate that State energy conservation feasibility reports submitted to the Secretary include a reduction of ten percent or more in the total amount of energy consumed in such State in the year 2000 from the projected energy consumption for such State in the year 2000. Adds to Federal assistance eligibility prerequisites for proposed State energy conservation plans, including an emergency planning program for energy supply disruption. Cites optional State energy conservation programs. Repeals the mandate for supplemental State energy conservation plans. Repeals the National Energy Extension Service Act. Authorizes appropriations for energy conservation programs for FY 1990 through 1993. Establishes a State Energy Advisory Board to: (1) review and advise on the programs under this Act; (2) serve as liaison between the States and the Department of Energy on energy efficiency; and (3) report at least annually to the Secretary and the Congress on the status of State energy conservation programs. Authorizes the use of loan programs and performance contracting for the non-Federal share of energy conservation project costs under the grant program. Amends the Energy Conservation and Production Act regarding limitations upon Federal weatherization assistance for low income persons to provide that: (1) at least 80 percent of the administrative costs incurred shall be available to subgrantees performing program measures; and (2) subgrantees with small programs shall have adequate administrative funding. Cites conditions under which the Secretary is authorized to approve a State application for a waiver of: (1) the requirement that at least 40 percent of Federal weatherization assistance be used for weatherization materials; and (2) the limitations placed upon expenditures per dwelling unit for weatherization measures. Authorizes appropriations for FY 1991 through 1992 for a weatherization research and technical assistance program which shall include the monitoring of indoor air quality in low-income homes. Title IV: Vehicle Energy Efficiency Performance Standards Act of 1988 - Amends the Motor Vehicle Information and Cost Savings Act to increase the average fuel economy standards for passenger automobiles and light duty trucks for model year 1992 and thereafter according to prescribed guidelines. Exempts manufacturers of fewer than 10,000 light trucks and emergency vehicles from such prescribed standards. Establishes an incentives schedule for manufacturers of passenger automobiles and light trucks. Authorizes the Secretary of Transportation to assess a tax against any manufacturer who fails to comply with the prescribed average fuel economy standards. Sets forth procedural guidelines for the imposition of such tax. States that the current civil penalty shall not apply to any model year for a passenger automobile or light truck after model year 1989. Prescribes a fleet average fuel economy schedule for all Federal passenger automobiles and light trucks for model years 1992 and thereafter. Amends the Information and Cost Savings Act to require the Administrator of the Environmental Protection Agency to consult with the Secretary of Energy before establishing testing and calculation procedures for measuring automobile fuel economy. Authorizes (currently, directs) the Administrator to require fuel economy tests in conjunction with emissions tests conducted under the Clean Air Act. Directs the Administrator to measure a sampling of production passenger automobiles for each model type and year during the first month of manufacture for sale. Requires the adjustment of average fuel economy standards when necessary. Requires manufacturers to reflect any changes in such standards on automobile labels affixed more than 90 days after such changes are available. Requires that Federal testing and calculation procedures be repeated over a period of years to monitor automobile performance in use to determine the extent of decline in fuel economy. Directs the Administrator to periodically review procedures for testing fuel economy. Directs the Administrator to update the booklet containing fuel economy data at least twice a year. Directs the Secretary of Energy to distribute at least 100 booklets each year to each dealer and additional numbers if requested. Cites conditions under which manufacturers of light vehicles with certain increased fuel economies shall be considered to have offered the Government a specified discounted bid. Directs the Secretary, within two years of enactment of this Act, to submit suggestions to the Congress for additional legislation to carry out its purposes and the purposes of the Motor Vehicle Information and Cost Savings Act. Directs the National Academy of Sciences to report to the Congress on the results of its review of the research and development status of the fuel efficiency and energy consumption reduction of light vehicles, trucks, and passenger vehicles. Directs the Secretary of Energy to make changes in the Department of Energy's transportation research and development program based upon such report. Outlines criteria and procedures for amended vehicle fuel economy standards. Amends the Internal Revenue Code to prescribe a gas guzzler tax schedule applicable to 1989 and later model year automobiles. Sets forth a tax credit schedule for the purchase of certain fuel efficient passenger vehicles. Title V: Solar and Renewable Resources - Requires the Secretary of Energy to report to the Congress regarding a long-term research, development and demonstration program with policy options necessary to achieve a quadrupling of renewable energy production and use by 2015. Requires the Secretary of Energy to work closely with specified Federal departments regarding the Federal Government's biofuels program, and to report to the Congress on the progress being made in the development of solar and renewable resources. Mandates that the President's budget requests for FY 1990 - FY 1993 include the Secretary of Energy's recommendations for civilian research and development budgets necessary to implement such long-term program. Directs the Secretary to establish an Energy Research Advisory Board Panel on Solar and Renewable Resources and Technologies which shall report annually to the Energy Research Advisory Board regarding the status of the solar and renewable resources program. Authorizes appropriations for FY 1990 through FY 1993 for such program. Mandates that the President's budget request for FY 1990 include the Secretary's recommendations for proof-of-concept or near-commercialization demonstration projects in specified categories. Directs the Secretary to: (1) establish and provide financial assistance to a joint research and development venture to develop advanced district cooling technologies applicable in cities with high cooling loads; and (2) appoint members to an Advisory Committee on Advanced District Cooling Technology to assist in the implementation of such joint venture. Authorizes appropriations for such venture. Directs the Secretary of Energy to implement a research program regarding: (1) fuel cell use of methane gas generated from biomass forms; (2) technologies using renewable energy sources (such as wind and solar energy) to produce hydrogen for fuel cell use; and (3) fuel cell technology for electric power production as backup spinning reserve components to renewable power systems in rural and isolated areas. Authorizes the Secretary to make grants to, and enter into contracts with, private research laboratories. Requires the Secretary to report to the Congress regarding the fuel cell research program. Directs the Secretary to appoint members to an Advisory Committee on Energy Conservation and Renewable Energy Technology Exports to assist in the implementation of such program. Authorizes appropriations for FY 1990 through 1992. Directs the Administrator of the Environmental Protection Agency to prepare Federal guidelines for use by cities and municipalities, specifying environmental and safety standards for the use of fuel cell technology. Requires the Secretary of Commerce to report to the Congress regarding the export market potential for integrated fuel cells systems with renewable power technologies. Requires such Secretary to report to the Congress on the activities of the Committee on Renewable Energy, Commerce, and Trade to promote exports of renewable energy technology. Requires each participating member of such Committee to report annually to the Congress on the Committee actions regarding renewable energy technology exports. Requires the Committee to establish a joint government-industry plan to promote the U.S. market share in international trade in renewable energy technologies, including the development of administrative guidelines for Federal export loan programs. Authorizes appropriations for FY 1990 through 1992. Title VI: Solar Hydrogen Fuels - Directs the Secretary of Energy to prepare and submit to specified congressional committees a comprehensive five-year program management plan for a research and development program designed to permit the development of a domestic hydrogen fuel production capability within the shortest practicable time. Requires the Secretary to send the Congress annual plan descriptions including any necessary plan modifications. Directs the Secretary to establish such program within the Department of Energy. Requires that the areas to be addressed in such program include production, liquefaction, transmission, distribution, storage, and utilization. Requires priority to be given to production techniques that use renewable energy sources as their primary energy sources. Directs the Secretary to conduct demonstrations to evaluate technical and nontechnical parameters to determine commercial applicability of hydrogen technology and to prepare a comprehensive large-scale hydrogen technology demonstration plan. Requires the Secretary to consult with other Federal agencies and departments in carrying out this program. Requires the establishment of a Hydrogen Technical Advisory Panel of the Energy Research Advisory Board to advise the Secretary on the conduct of the hydrogen program. Requires the Panel to submit an annual report on the program to the Energy Research Advisory Board which shall subsequently report to the Secretary. Authorizes appropriations to carry out this title for FY 1990 through 1994. Directs the Administrator of the National Aeronautics and Space Administration (NASA) to prepare and submit to specified congressional committees on a comprehensive five-year program management plan for a research and development program for the development of a domestic hydrogen-fueled aircraft capability within the shortest practicable time. Requires the Administrator to transmit to Congress an annual plan description including any necessary modifications with respect to the plan. Requires the Administrator to establish such program within NASA and to prepare and transmit to the Congress a comprehensive flight demonstration plan which shall confirm the technical feasibility, economic viability, and safety of liquid hydrogen as a fuel for commercial transport aircraft. Provides that the research and development program under this title shall include, at a minimum, the development of the systems associated with the production, transportation, storage, and handling of liquid hydrogen for commercial aircraft application. Provides that the Administrator shall consult with other Federal agencies and departments in carrying out the program. Establishes a Hydrogen-Fueled Aircraft Advisory Committee to advise the Administrator on the programs established by this title. Requires the Committee to report annually to the Administrator on its activities and on the status of such programs. Authorizes appropriations to carry out this title for FY 1990 through 1994. Title VII: Natural Gas and Coal - Part A: Natural Gas - Directs the Secretary of Energy to enter into cooperative agreements with and provide financial assistance to appropriate parties to construct and demonstrate the commercial operation of intercooled steam-injected gas turbines for generating electricity. Authorizes appropriations for FY 1990 through 1993. Requires the Secretary to report to the Congress on the implementation of this program. Directs the Secretary to enter into cooperative agreements with and to provide financial assistance to municipal governments to demonstrate the feasibility of using natural gas as a fuel for urban area mass transit. Sets as a prerequisite to such agreements that the participating municipal government provide at least 25 percent of the demonstration costs. Authorizes appropriations for FY 1990 through 1992. Requires the Secretary to submit a feasibility report to the Congress within nine months after the date of enactment of this Act pertaining to the use of natural gas in diesel-powered vehicles to facilitate compliance with emissions requirements. Part B: Coal - Requires the Secretary, within nine months after the date of enactment of this Act, to provide the Congress with a comprehensive review of clean coal technologies to be developed in federally-funded projects under the Department of Energy's clean coal technology program. Directs the Secretary to establish and implement research and development technologies for preventing, reducing, recycling, recovering, or offsetting carbon-dioxide emissions from combusted coal. Requires the Secretary to report to the Congress on the implementation of such technologies. Authorizes appropriations for FY 1990 through 1992. Title VIII: Forest and Agriculture Policies - Part A: Forest Policies - Directs the Secretary of Agriculture, in cooperation with the Secretary of the Interior, to report to the President and the Congress on the feasibility of a national forestation initiative. Requires the Secretary of Agriculture to submit an analysis to the President and the Congress of the potential for reducing carbon emissions by undertaking targeted urban tree plantings to reduce air conditioning needs and mitigate the "heat island effect" in cities. Part B: Agricultural Policies - Mandates that specified Federal agencies conduct a joint study on critical linkages between agricultural production and global climate change. Cites study contents. Directs specified Federal agencies to establish an interagency task force to ensure that all satellite and remote sensing information pertinent to agricultural needs and climate modeling are made available to the Department of Agriculture. Directs the Secretary of Agriculture to use the "Low-Input Farming Systems Research and Education Program." Authorizes appropriations for FY 1990 through 1994. Part C: Integrated Farming Policies - Directs the Secretary of Agriculture to consult with the agriculture community and sustainable agriculture advocates for the purpose of developing an integrated farming research, development, and demonstration program. Authorizes appropriations for FY 1990 through 1992. Directs the Secretary of Energy to establish a national farm ethanol program. Authorizes appropriations for FY 1990 through 1992. Title IX: Development Assistance - Directs the Secretary of State, in conjunction with the Administrator of the Agency for International Development and other specified officials, to report to the Congress on the status of forest resources in tropical countries, including a forest and agroforestry plan with goals for each tropical country. Requires: (1) the Administrator to ensure that all activities supported by U.S. bilateral foreign assistance are consistent with such plan; and (2) the Administrator take into account each country's measure of success in meeting plan goals when allocating development assistance monies. Prescribes guidelines under which the Secretaries of State and of the Treasury are directed to promote multilateral tropical forestry programs, and to report to the Congress regarding the progress made by each of the multilateral development banks, the United Nations Food and Agriculture Program, the United Nations Development Program, and the International Tropical Timber Organization. Directs the Secretary of Commerce to promulgate regulations within one year after the date of enactment of this Act requiring wood and projects containing imported wood to bear a label disclosing the names of such wood and the countries of origin. Requires such Secretary to promulgate regulations prohibiting the importation of wood and wood products containing wood from: (1) tropical forest countries that have not achieved the forest plan goals; (2) countries that import wood or products containing wood harvested in tropical countries that have not achieved forest plan goals; and (3) countries that permit transit of wood or products containing wood harvested in tropical countries that have not achieved forest plan goals. Requires the Secretary to report annually to the Congress on the status of import controls with respect to tropical forest countries that have not achieved the forest plan goals. Amends the Foreign Assistance Act of 1961 to authorize the President to assist developing countries with research and development programs aimed at energy efficiency and energy transmission facilities. Prohibits assistance for large-scale production of energy. Prescribes guidelines under which the President is directed to provide support to aid-receiving countries with emphasis upon least-cost energy planning. Requires the President to report annually to the Congress regarding the bilateral energy program, including the progress made in reducing greenhouse gas emission. Directs the Secretary of the Treasury to instruct the U.S. Executive Director of each multilateral development bank to: (1) vigorously promote the adoption by each bank of a least-cost energy planning program containing specified components; and (2) oppose, except in certain instances, financial or technical assistance to any borrowing country if a least-cost energy plan is not in place. Directs the Secretary of State to instruct the Ambassador to the United Nations to: (1) vigorously encourage the United Nations Development Program implementing energy conservation and efficiency programs for recipient countries; and (2) oppose the adoption of country programs for any country for which a least-cost energy planning program giving priority to energy conservation, end use energy efficiency, and renewable energy sources is not in place. Requires the Secretary of the Treasury and the Secretary of State to report annually to the Congress regarding the progress of the multilateral development banks and the United Nations Development Program in implementing energy conservation measures. Declares that it is the policy of the United States that its economic assistance programs to developing countries should encourage least-cost, sustainable transportation policies and practices based on a diverse mix of motorized and nonmotorized transport modes which minimize fuel needs and reduce carbon-dioxide emissions. Directs the Administrator of the Agency for International Development to: (1) implement a study of the Agency's transportation-related programs and of the multilateral development bank policies regarding their transportation-related lending practices to recipient countries; and (2) redirect part of the Agency's resources to providing nonmotorized low-cost vehicles that can be sustained in the long term. Directs the Secretary of the Treasury to instruct the U.S. Executive Director to each multilateral development bank to increase the emphasis on nonmotorized, low-cost and energy efficient alternatives to private motor vehicles. Directs the Peace Corps to encourage the use of nonmotorized transport technologies in the projects it undertakes. Specifies non-motorized transportation policies to be promoted by the U.S. Government in implementing its development assistance programs. Authorizes the Secretary of the Treasury to modify the loan terms on up to one-half of the sovereign debt owed the United States by developing countries as a condition of adopting forest and energy conservation programs. Directs the Secretary to promulgate regulations implementing such environmental conservation and debt reduction program within one year after the enactment of this Act. Directs the Secretary to encourage the adoption of joint initiatives of debt reduction and conversion by the public and private sectors in member countries of the Organization for Economic Cooperation and Development. Directs the Administrator of the Agency for International Development to report biennially to the Congress regarding the status of energy conservation and efficiency for each country receiving Federal development assistance monies. Requires the Administrator of the Agency for International Development to report to the Congress regarding the options and strategies for the use of bilateral and multilateral development assistance programs sponsored by the United States to control emissions of certain greenhouse gases into the atmosphere. Title X: International Activities - Directs the Secretary of State to convene an international meeting in the United States by the end of 1992 to adopt a global climate protection agreement with measures at least as stringent as those in this Act. Sets forth a percentage reductions schedule for emissions of specified gases. Directs the Secretary of State to: (1) initiate negotiations for the adoption of a binding multilateral agreement requiring specified reductions of nitrogen oxide emissions by 1998; (2) request and, if necessary, convene the parties to the Montreal protocol on substances that deplete the ozone layer for possible control measures reassessment; and (3) convene an international meeting to exchange information regarding energy efficiency and solar/renewable energy resources that are environmentally sustainable. Directs the Secretary of the Treasury to instruct the U.S. Executive Directors of multilateral development banks to promote lending policies which emphasize specified aspects of energy conservation, renewable energy source, greenhouse gas emissions, and least-cost non-motorized transportation systems. Directs the Administrator of the Agency for International Development to take specified measures concerning: (1) biological diversity conservation; (2) renewable energy resources and conservation; and (3) assistance to developing countries in the use of agricultural and industrial chemicals. Declares U.S. policy with respect to domestic and international efforts to deal with the greenhouse effect. Requests the President to take steps to establish a long-term study of the greenhouse effect, beginning with a one-year cooperative international research program started during or before 1991. Names the year of such program the "International Year of the Greenhouse Effect." Title XI: World Population Growth -Declares it is the policy of the United States that family planning services should be made available to all persons requesting them. Authorizes appropriations for FY 1990 through 1994 for international population and family planning assistance. Prohibits the use of such funds for: (1) involuntary sterilization or abortion; or (2) the coercion of any person to accept family planning services. Requests the President to initiate an international conference on population, and to seek an international agreement on population growth. Establishes a National Commission on Population, Environment, and Natural Resources to prepare reports and convene conferences. Terminates such Commission three years after the enactment of this Act. Authorizes appropriations for FY 1990 through 1992. Title XII: Recyclable Materials - Directs the Secretary of Commerce and the Secretary of Health and Human Services to report to the Congress the results of a study regarding degradable materials and recycling methodologies. Requires the Secretary of Defense to report to the Congress the results of a study regarding the national security implications of requiring the use of degradable materials in items procured by the Department of Defense, and of requiring the Department to comply with specified prohibitions against the use of nondegradable materials. Requires the Administrator of the Environmental Protection Agency biennially to submit an updated report to the President and the Congress regarding Federal, State, and local policies and practices in recycling government wastes and procuring recyclable materials. Directs the Secretary of Agriculture to report to the Congress the results of a pilot project to develop and demonstrate a viable technology for composting municipal waste and sewage sludge. Directs the Secretary of Commerce to appoint a Director of Recycling Research and Information to: (1) make grants for recycling research and development; (2) establish a national database information clearinghouse for recyclable materials; (3) report annually to the Congress regarding the status of recyclable wastes; and (4) make grants for scientific research on the use of plastic materials as part of a recycling program. Authorizes appropriations for FY 1990. Sets forth civil and criminal penalties for offenses involving the production, manufacturing, distribution or selling of specified nonrecycled consumer goods which have been proscribed by the Secretary of Commerce under regulations jointly issued with the Administrator of the Environmental Protection Agency. Requires the Secretary of Commerce periodically to update the list of proscribed nonrecycled consumer goods.
Resolution· HCONRESH.Con.Res. 385 (100th)referred
United States · United States Congress · 4 October 1988
Expresses the sense of the Congress that: (1) the Amateur Basketball Association United States of America and the U.S. Olympic Committee should promote the adoption of rules that would make all basketball players eligible to compete in the Olympic games; and (2) the U.S. Olympic Committee should promote the elimination of the distinction between amateur and professional athletes in all sports for purposes of eligibility to compete in the Olympic games.
Bill· HRH.R. 5407 (100th)open
United States · United States Congress · 28 September 1988
Establishes the National Commission on the Thrift Industry. Requires the Commission to investigate: (1) the adequacy of the regulation of thrift institutions; (2) the financial condition and sources of income of the Federal Savings and Loan Insurance Corporation (FSLIC); (3) the extent of liability relating to the FSLIC's inventory of troubled thrift institutions; (4) methods for increasing capital levels in the thrift industry; (5) problems in the structure of the deposit insurance system and options for reforming such system; (6) the impact on the thrift industry of FSLIC assistance programs; (7) the role of the thrift industry in providing mortgage credit, including such industry's projected share of the mortgage market in the year 2000; (8) the effect the development of the Government-sponsored secondary mortgage market has had on the role of the thrift industry in providing mortgage credit, including the secondary mortgage market's projected share of the mortgage market in the year 2000; and (9) the need for specialized depository institutions to serve such market, including the extent to which such institutions affect the availability of low- and moderate-income housing. Requires the Commission, on or before February 1, 1989, to report to the President and specified House and Senate committees on its findings and conclusions, including its recommendations for administrative and legislative action. Specifies that any expenses of the Commission shall be paid by the Secretary of the Treasury. Limits the total expenses of the Commission. Directs the Comptroller General to audit and report to the Congress on Commission expenditures. Terminates the Commission 30 days after it submits its final report.
Bill· HRH.R. 5346 (100th)referred
United States · United States Congress · 23 September 1988
Amends the Federal criminal code to prescribe penalties for the unauthorized use of the name Visiting Nurse Association or Visiting Nurse Service or of the name or insignia of the Visiting Nurse Association of America.
Bill· HJRESH.J.Res. 660 (100th)referred
United States · United States Congress · 22 September 1988
Designates October 30, 1988, as Fire Safety at Home Day: Change Your Clock, Change Your Battery.
Bill· HJRESH.J.Res. 651 (100th)referred
United States · United States Congress · 13 September 1988
Designates the week of December 11 through December 17, 1988, as National Drunk and Drugged Driving Awareness Week.
Bill· HJRESH.J.Res. 647 (100th)referred
United States · United States Congress · 7 September 1988
Designates September 24, 1989, as United States Marshals Bicentennial Day.
Bill· HRH.R. 5154 (100th)referred
United States · United States Congress · 3 August 1988
Information Dissemination and Research Accountability Act - Establishes in the National Library of Medicine a National Center for Research Accountability to assist in eliminating duplication of effort in Federal research proposals involving live animals. Directs the President to appoint as members of the Center 20 experts in the biomedical information sciences who are currently employed by a Federal agency in a capacity that qualifies them to make determinations as to whether research proposals involving live animals are duplicative of other research efforts. Sets forth provisions for a Director of the Center. Prohibits Federal agencies from carrying out or funding any research proposal involving live animals unless the proposal is submitted to the Center following agency approval. Prohibits Federal funding of any proposal the Center determines would duplicate other research completed or in process. Authorizes the Center to contract with private entities to assist in conducting comprehensive full-text literature searches. Directs the President to establish rules to preclude any conflict of interest in the awarding of these contracts. Directs the Center to report annually to the President and the Congress. Provides for modernization of biomedical information storage and dissemination by the National Library of Medicine. Directs the Library to: (1) acquire, in full-text form, all biomedical information owned or available for use by Federal agencies (except information already in the Library or classified for national security reasons); (2) transcribe and store in full-text all such information acquired by the Library after January 1, 1960; (3) make available to medical libraries, through modern technologies, all full-text biomedical information in its collection; (4) support, by grants and contracts, the creation of new information for teaching and demonstrations, including audiovisual aids and computer graphics technologies; (5) make available such new information to research and teaching institutions, at cost; and (6) increase the number of persons trained in modern methods of biomedical information storage and dissemination technologies by making available stipends, awards, and grants to persons engaged in such training. Provides that the cost to those requesting biomedical or teaching and demonstration information shall include the Federal expenses incurred in acquiring and making it available. Authorizes the Library to award contracts to the private-sector data recording industry to improve: (1) the development of technologies for storage and dissemination of full-text biomedical information; and (2) dissemination of such information to medical libraries for research use. Requires the Library to report annually to the Congress on its progress. Authorizes appropriations.
Bill· HRH.R. 5119 (100th)referred
United States · United States Congress · 1 August 1988
New Jersey-New York Medical Waste Tracking Act of 1988 - Amends the Solid Waste Disposal Act to require the Environmental Protection Agency (EPA) to establish a demonstration program, within nine months of this Act's enactment, to track, by the use of a manifest system, medical waste generated and disposed of in New York and New Jersey. Makes such program applicable to generators of medical waste, and owners and operators of facilities for the treatment, storage, transport, and disposal of medical waste. Requires such parties to permit access to and provide copies of all records relating to such wastes to any designated EPA representative. Sets forth civil and criminal penalties for violations of this Act. Provides that this Act does not preclude any State or locality from imposing more stringent requirements for the control or monitoring of medical waste or affect any other authorities or requirements of the Solid Waste Disposal Act. Requires the EPA to report to the Congress, within three years of this Act's enactment, on the progress and success of the demonstration program. Authorizes appropriations for such program for FY 1989 through 1991. Directs the EPA to report to the Congress on medical waste treatment and disposal methods currently being employed by New York and New Jersey.
Bill· HRH.R. 5094 (100th)open
United States · United States Congress · 26 July 1988
Depository Institutions Act of 1988 - Makes technical amendments to the Bank Holding Company Act of 1956. Title I: Securities Activities of National Banks and Bank Holding Company Subsidiaries - Amends the Banking Act of 1933 to permit banks which are members of the Federal Reserve System (member banks) to be affiliates of qualified securities subsidiaries. Prohibits any company (other than a qualified securities subsidiary) which is affiliated with a member bank from engaging in any securities activities even though such company is not engaged principally in such activities, unless granted a specific exemption by the Federal Reserve Board. Amends the Bank Holding Company Act of 1956 to allow bank holding companies to own shares of qualified securities subsidiaries. Defines a "qualified securities subsidiary" as any company: (1) which is a nonbank subsidiary of a bank holding company, engages in securities related activities, and is registered as a broker or dealer under the Securities Exchange Act of 1934; and (2) the formation or acquisition of which by a bank holding company has been approved by the Federal Reserve Board. Allows a qualified securities subsidiary to: (1) buy and sell, issue, or underwrite asset-backed securities; (2) buy, sell, and underwrite debt securities, qualified municipal securities, and commercial paper; (3) buy and sell securities issued by an investment company; (4) buy, sell, and underwrite other securities which are not, and may not be converted into, equity securities; and (5) engage in securities brokerage, private placement, investment advisory, or other securities activities permitted for brokers or dealers registered under the Securities Exchange Act of 1934 or for investment advisers registered under the Investment Advisers Act of 1940. Prohibits a qualified securities subsidiary from: (1) buying, selling, or underwriting equity securities; (2) underwriting securities issued by an investment company; (3) buying, selling, or underwriting debt securities within 180 days after the enactment of this Act; or (4) engaging in certain activities authorized for nonbank subsidiaries of bank holding companies other than specified exempted activities. Requires bank holding companies to obtain the approval of the Federal Reserve Board prior to the formation or acquisition of a qualified securities subsidiary by a bank holding company. Prohibits such approval if the Federal Reserve Board determines the establishment of such a subsidiary would cause: (1) an adverse effect on holding company resources to the detriment of depository institution subsidiaries; or (2) the affiliation of a bank holding company which is among the 35 largest banking organizations in the United States with a securities from which is among the 35 largest securities firms. Requires disapproval by the Federal Reserve Board if an applicant submits an incomplete application or if the Board determines that certain community benefit standards have not been met. Requires any bank holding company that establishes a qualified subsidiary to transfer out of its depository institution subsidiaries any securities related activity in which a national bank may engage. Allows certain exceptions to such transfer requirement. Allows up to a one-year transition period for the transfer of such activities if the Federal Reserve Board determines that such a transfer would cause undue hardship or excessive disruption to the operations of the bank holding company. Prohibits any nonbank subsidiary of a bank holding company (other than a qualified securities subsidiary) from engaging in any securities activity after the earlier of: (1) the date a qualified securities subsidiary of such bank holding company commences operations; or (2) two years after the enactment of this Act. Specifies that no provision of this Act shall be construed as: (1) superseding any provision of any Federal securities law or regulation relating to the registration or regulation of brokers, dealers, underwriters, or members of exchanges by the Securities and Exchange Commission; or (2) limiting the authority of the Federal Reserve Board to prescribe regulations, issue orders, require reports and make examinations with respect to qualified securities subsidiaries or to regulate bank holding companies and bank holding company subsidiaries. Sets forth additional definitions relating to securities activities for purposes of this Act. Restates and reorganizes certain provisions of Federal banking laws relating to the general powers of national banks and the powers of national banks to engage in securities activities and commercial paper activities. Amends the Federal Deposit Insurance Act to limit the securities affiliations of insured nonmember banks to those in which a national bank may engage. Specifies that a State may not prohibit a bank or a bank holding company from being affiliated with a qualified securities subsidiary solely because the securities subsidiary is engaged in activities permitted by this Act. Allows certain exceptions to Federal Reserve Board approval requirements in connection with certain bank reorganizations. Sets forth expedited procedures for certain reorganizations of banks into bank holding companies and for bank holding companies to seek approval to engage in certain nonbanking activities. Requires the Federal Reserve Board to monitor and supervise the foreign currency operations of bank holding companies. Requires the Federal Reserve Board and the Comptroller of the Currency to submit a report to the Congress concerning the proposed regulations to implement the provisions of this Act. Sets forth the effective date of the final regulations required by this Act. Title II: Bank and Consumer Safeguard Provisions - Amends the Bank Holding Company Act of 1956 to limit certain types of restrictions on transactions between affiliates within a bank holding company where the holding company controls a qualified securities subsidiary. Prohibits any depository institution subsidiary of a bank holding company which controls a securities subsidiary from engaging in specified financial transactions with such securities subsidiary. Prohibits such a depository institution from extending credit in any manner to any investment company which is advised by such a securities subsidiary. Prohibits such a depository institution from engaging in specified financial transactions with third parties for the benefit of a securities subsidiary. Prohibits a bank holding company and subsidiaries of a bank holding company (other than a securities subsidiary) from extending credit to any person for the purpose of purchasing any security during a specified period in which the security is the subject of a distribution in which a securities subsidiary of such bank holding company participates as an underwriter or a member of a selling group. Prohibits a depository institution subsidiary of any bank holding company which controls a securities subsidiary from disclosing any confidential customer information to any securities subsidiary of such holding company without the consent of the customer. Prohibits any depository institution subsidiary of a bank holding company from sharing corporate names, logos, premises, and advertising with a securities subsidiary. Prohibits any reciprocal arrangement between a bank holding company and subsidiaries of a bank holding company. Prohibits a bank holding company from allowing any director, officer, or employee of any qualified securities subsidiary of such bank holding company to serve at the same time as a director, officer, or employee of any depository institution subsidiary of such bank holding company or otherwise participate in the conduct of the affairs of such depository institution subsidiary, except for clerical, accounting, bookkeeping, statistical, or similar functions. Allows a depository institution subsidiary of a bank holding company to sell loan assets to securities subsidiaries under specific, limited circumstances. Provides that any bank which owns any interest in a bankers' bank affiliated with a qualified securities subsidiary, or any interest in a holding company which controls such a bankers' bank, shall be treated as a bank affiliated with such qualified securities subsidiary for purposes of the prohibitions required by this Act. Requires a bank holding company which controls a qualified securities subsidiary to require such a securities subsidiary to disclose prominently in writing to its customers that: (1) the subsidiary is not a federally insured bank or insured institution, and that it is a separate corporate entity from its affiliated bank or insured institution; and (2) the commercial paper and securities underwritten, sold, offered, or recommended by the securities subsidiary are not federally insured, guaranteed, or otherwise an obligation of the affilated bank or insured institution. Requires similar disclosures by a depository institution subsidiary of a bank holding company when providing investment advice to customers. Sets forth criminal penalties and civil money penalties for violations of any of the prohibitions required by this Act. Specifies the appropriate Federal regulatory agency for specified types of financial institutions for purposes of this Act. Authorizes the Federal Reserve Board to require a bank holding company to terminate its control of any depository institution subsidiary if the Board has reason to believe that the bank holding company or any of its subsidiaries has engaged in a continuing course of conduct involving violations of the securities activities provisions or the inter-affiliate provisions of this Act. Provides notice, administrative hearing, and adjudicatory procedures for requiring such a divestiture. Requires the Federal Reserve Board to submit a report to the Congress containing proposed regulations required to implement the provisions of this Act. Sets forth the effective date of the final regulations required to implement the provisions of this Act. Title III: Insurance Activities - Bank Holding Company and National Bank Improvements Act of 1988 - Amends the Bank Holding Company Act of 1956 to prohibit a bank holding company from engaging in any insurance activities, either directly or through any of its bank or nonbank subsidiaries, unless such activities qualify under specified exemptions. Allows certain grandfather rights for bank holding companies to continue to engage in certain insurance activities. Amends the National Bank Act to prohibit a national bank or a subsidiary of a national bank from engaging in insurance activities, except for: (1) credit insurance to assure the repayment of credit extensions in the event of the death, disability, or involuntary unemployment of the debtor; (2) municipal bond guarantee insurance activities; and (3) any insurance activities in which such company could engage as of March 2, 1988. Provides that a national bank located in a place with a population of 5,000 or less may sell insurance if: (1) the insurance activities are confined to that place; and (2) the insurance is sold only to residents of the State in which the national bank is located or to individuals employed in that State. Title IV: Consumer Protection Provisions - Subtitle A: Community Benefits - Community Benefits Amendments of 1988 - Amends the Bank Holding Company Act of 1956 and the National Housing Act to require that minimum community reinvestment standards be met by banks and savings and loan institutions and by bank holding companies and savings and loan holding companies prior to any approval of such a holding company's application for the acquisition of: (1) out-of-state subsidiaries; or (2) interests in securities subsidiaries and certain other nonbanking subsidiaries. Specifies such minimum standard as an imputed community reinvestment rating of "two" or better (on a scale of "one-excellent" to "five-poor") as determined by standards set forth in this Act. Allows the preliminary approval of such an application by a financial institution or holding company with a rating of "three" if such institution or holding company enters into commitments to improve such rating to "two" within two years. Allows certain acquisitions involving financial institutions or bank holding companies with a rating of less than "three" under specified, limited circumstances. Requires the disapproval of such an application if the applicant bank, savings and loan, holding company, or any subsidiary has established a pattern of acquiring or chartering federally insured depository institutions or opening or closing deposit facilities in a manner that tends to exclude low- and moderate-income neighborhoods or equivalent areas or, in the case of a savings and loan, fails to provide reasonably priced and accessible deposit services to low- and moderate-income persons. Prohibits the approval of any application of a holding company to establish a securities subsidiary, or of a securities firm to acquire a bank or savings and loan unless the applicant enters into commitments that the combination of banking and securities activities will not diminish the availability of credit and deposit services for low- and moderate-income persons or small businesses or within low- and moderate-income neighborhoods or equivalent areas. Imposes additional requirements for securities firms applying to acquire a bank or savings and loan. Provides special rules for holding companies with five or more subsidiaries in one State and for subsidiaries with ratings assigned prior to the enactment of this Act. Sets forth procedures for the consideration of such applications by the Federal Reserve Board, including newspaper notice of applications, the acceptance of public comments, and the holding of informal hearings. Requires the continuing enforcement of the provisions of this Act. Amends the Community Reinvestment Act of 1977 to require the appropriate Federal regulatory agency to publish a newspaper notice of the examination of a financial institution's record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods. Requires each regional unit of the appropriate Federal regulatory agency to prepare and mail to any requesting person a weekly bulletin listing the insured depository institutions within such region undergoing such an examination. Requires the appropriate Federal regulatory agencies to jointly develop a format for collecting data from insured depository institutions in connection with such examinations. Provides that in the case of insured depository institutions with assets of $100,000,000 or more such format shall require additional types of information. Requires the appropriate Federal regulatory agencies to prepare a written evaluation, following each such examination, of the institution's record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods. Specifies that such an evaluation shall have a public section and a confidential section. Sets forth topics to be considered in such evaluation. Requires the Federal depository institutions regulatory agencies to jointly develop and publish rating guidelines for assigning a numerical rating to an insured depository institution's performance in meeting the credit needs of its entire community, including low- and moderate-income neighborhoods. Specifies that the underlying goal of such rating process shall be to measure the extent to which an insured depository institution in committing financial and managerial resources to community reinvestment activities. Requires each such agency to assign such a rating to each depository institution. Requires that such rating guidelines be reviewed annually and revised if necessary. Provides that any community reinvestment rating assigned to any insured depository institution shall reflect such institution's community reinvestment performance on a comparative basis relative to the community reinvestment performances of other insured depository institutions with similar resources. Specifies that any numerical rating assigned with respect to any insured depository institution shall be determined on the basis of a five point performance rating scale ranging from "one-excellent" to "five-poor" or substantial noncompliance. Provides that in approving an application, assessing or compiling data, or rating the performance of an insured depository institution pursuant to this Act, the Federal depository institution's regulatory agency may take into consideration the activities of an institution's parent holding company or nonbank or nonthrift institution affiliates which help to meet the credit needs of the insured depository institution's local community and the activities of any community development corporation which is sponsored by such insured depository institution or the holding company which controls such insured depository institution. Subtitle B: Agency Reforms - Requires the Comptroller of the Currency, the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Federal Home Loan Bank Board to establish a consumer division within each of their respective agencies. Sets forth the duties of such consumer divisions, including the periodic examination of each insured depository institution within its jurisdiction to determine the extent to which such institution is in compliance with all applicable laws and regulations relating to consumer protection, including community reinvestment laws. Requires each Federal Reserve bank to establish a community review board. Sets forth the membership of such boards and administrative provisions concerning the operation of such boards. Specifies the duties of such boards, including advising regulatory agencies with respect to, and reviewing the Federal depository institutions regulatory agencies' enforcement of, community reinvestment and consumer protection laws. Subtitle C: Access to Financial Services - Financial Services Access Act - Requires every depository institution to offer consumers a basic financial services account. Sets forth the terms of such an account. Requires depository institutions which, in the ordinary course of business, cash checks for customers, to cash any Federal, State, or local government check in an amount of $3,000 or less if the individual presenting the check: (1) is the individual to whom the check has been issued; and (2) is registered with the depository institution pursuant to requirements set forth in this Act. Allows a depository institution to impose a $2 fee for cashing such checks. Requires credit unions to cash such checks for members without charging a fee. Requires depository institutions to post a conspicuous notice that informs account holders and potential account holders that basic financial services accounts and government check cashing services are available. Sets forth rules for the administrative enforcement of such requirements relating to basic financial services accounts and government check cashing services. Subtitle D: Notice of Branch Closures By Bank and Thrift Institutions - Notice of Bank and Thrift Branch Closure Act of 1988 - Requires any national bank which proposes to close any branch to provide a written notice of such proposed closing to the Comptroller of the Currency and to customers of such branch not less than 90 days or more than 180 days before such closing. Specifies the required form and content of such notices. Amends the Home Owners' Loan Act of 1933 to require any savings and loan association which proposes to close any branch to provide written notices of such proposed closing to the Federal Home Loan Bank Board (FHLBB) and to customers of such branch not less than 90 days or more than 180 days before such closing. Specifies the form and content of such notices. Requires the Comptroller of the Currency and the FHLBB, upon receipt of such notice, to determine whether the closing of such branch will result in a significant reduction in the availability of services of depository institutions in the area in which such branch is located and to provide assistance to the community in exploring the feasibility of replacing such branch with adequate banking facilities. Subtitle E: Truth in Savings - Truth in Savings Act - Requires each advertisement, announcement, or solicitation by a depository institution which refers to a specific interest, yield, or rate of earnings on amounts held in any account to state the following information clearly and conspicuously: (1) the annual percentage yield and the period such yield is in effect; (2) all minimum initial deposit, minimum balance, and time requirements for earning such yield; (3) fees or other conditions that could reduce the yield; (4) the annual rates of simple interest; (5) a statement that an interest penalty is required for early withdrawal; and (6) the effective percentage yield on the date of maturity for a certificate of deposit. Authorizes the Federal Reserve Board to exempt advertisements, announcements, or solicitations made by any broadcast or electronic medium or outdoor advertising displays not on the premises of a depository institution from the disclosure requirements relating to initial deposit requirements, fees, and annual rates of simple interest if such dislosure would be unnecessarily burdensome. Prohibits any depository institution from advertising an account as a free or no-cost account if: (1) there are minimum balance or limited transaction requirements to avoid fees; or (2) there is any service fee or transaction fee imposed for such account. Prohibits any institution from making any advertisement, announcement, or solicitation that is inaccurate or misleading or that misrepresents its deposit contracts. Requires each depository institution to maintain a schedule, written in clear and plain language, of fees, changes, yields, and terms and conditions such as minimum balance and time requirements applicable to each class of accounts offered. Requires that such schedule be disclosed to potential customers and requesting individuals and mailed to account holders. Directs the Board to require modified disclosure requirements concerning the annual yield on variable rate accounts, multiple rate accounts, guaranteed-rate accounts that mature in less than one year, and accounts for which the interest rate is not guaranteed. Requires a depository institution to calculate the amount of interest on an interest-bearing account based on the full amount of principal in the account for each day of the stated calculation period at the rates of interest disclosed pursuant to the requirements of this Act. Specifies that such requirement shall not be construed as prohibiting or requiring the use of any particular method of compounding or crediting of interest. Directs the Federal Reserve Board to prescribe regulations to carry out such disclosure requirements and to provide for public notice and comment on, and publication of, model forms and clauses for the disclosures required by this Act. Provides for the enforcement of this Act and the civil liability of a depository institution that fails to comply with requirements of this Act. Sets forth limitations on such liability and factors to be considered by the court in determining class action awards. Provides that an institution may not be held liable for a violation if the institution demonstrates that the violation was not intentional and resulted from a bona fide error, or if the institution makes a notification of and an adjustment for errors within a specified time. Establishes U.S. district court jurisdiction and a one-year statute of limitations for actions brought under this Act. Directs the National Credit Union Administration to provide for the similar regulation of credit unions. Specifies that such disclosure provisions do not annul, alter, or affect the laws of any State relating to the disclosure of information in connection with terms of deposit accounts, except to the extent such laws are inconsistent with this Act. Subtitle F: Home Equity Loan Requirements - Home Equity Loan Consumer Protection Act of 1988 - Amends the Truth in Lending Act to prescribe disclosure requirements for any open end consumer credit plan secured by a consumer's dwelling, including: (1) the fixed annual percentage rate; (2) the variable percentage rate with a detailed description of how such rate is calculated and adjusted; (3) an itemization of other fees imposed by the creditor; (4) estimates of fees which may be imposed by third parties; (5) a statement that the consumer risks the loss of the dwelling in the event of any default; (6) any conditions to which disclosed terms may be subject; (7) a statement of the rights of the creditor with respect to extensions of credit; (8) a description of repayment options and the minimum periodic payments required; (9) an example, based on a $10,000 outstanding balance, of minimum payments and the maximum repayment period; (10) a statement concerning balloon payments; (11) a statement concerning negative amortization, if applicable; (12) a description of any limitations and minimum amount requirements on extensions of credit; (13) a statement that the consumer should consult a tax adviser regarding the deductibility of interest and charges under the plan; and (14) any other requirements established by the Federal Reserve Board. Sets forth requirements for: (1) the time and form of such disclosures; and (2) disclosures with respect to third party credit applications. Requires creditors to provide to any applicant for such an open end consumer credit plan a pamphlet to be published by the Federal Reserve Board as required by this Act or any pamphlet which provides substantially similar information. Requires the Federal Reserve Board to publish such pamphlet containing: (1) a general description of open end credit plans secured by consumer dwellings and the terms and conditions on which such loans are generally extended; and (2) a discussion of potential advantages and disadvantages of such plans. Imposes additional disclosure requirements for advertisements of open end credit plans secured by consumers' dwellings. Prohibits any advertisement from being misleading concerning the tax deductibility of any interest expense. Prohibits the use of advertisements for any home equity loan which refer to such loan as "free money" or use other terms determined by the Federal Reserve Board to be misleading. Requires that any information concerning discounted initial interest rates and any required balloon payments be included with such advertisements. Requires the index or other rate of interest to which changes in the annual percentage rate of such credit plans are related must be based on an index or rate of interest which is publicly available and not under the control of the creditor. Prohibits a creditor from unilaterally terminating such a credit plan or requiring immediate repayment of the outstanding balance of such a credit plan, except in cases of: (1) fraud or material misrepresentation on the part of the consumer; (2) failure by the consumer to meet repayment terms; or (3) other acts or failures on the part of the consumer which adversely affect the creditor's security. Prohibits a creditor from making any unilateral changes in the terms of such a credit plan, except under specified circumstances. Requires a creditor to refund all application fees of a consumer if the creditor changes any terms of the credit time between the time an application is made and the time the account is opened. Prohibits the imposition of any nonrefundable fees by a creditor before the end of the three-day period beginning after the consumer receives all the required disclosures. Requires the Federal Reserve Board to conduct a study and report to the Congress on whether the use of the same term, such as an annual percentage rate, to describe the cost to the consumer for extensions of credit under all forms of consumer credit plans may unduly mislead consumers with respect to the comparability of the various forms of such extension of credit. Subtitle G: Expedited Funds Availability Amendments - Amends the Expedited Funds Availability Act to treat certain credit unions as local originating depository institutions for purposes of such Act. Terminates such treatment after a three-year period. Requires the Federal Reserve Board to report to the Congress within 18 months on the incidence of check fraud losses and certain other specified subjects. Title V: Real Estate Activities - Amends the Bank Holding Company Act of 1956 to prohibit any bank, bank holding company, and nonbank subsidiary of a bank holding company from engaging in any real estate activity in the United States after March 1, 1988, unless such activity was allowed by the Federal Reserve Board (or the appropriate State authority in the case of a State bank) on or before March 1, 1988. Places identical prohibitions on national banks unless such activity was allowed by the Comptroller of the Currency prior to March 1, 1988. Title VI: Enhanced Enforcement Powers - Depository Institutions Enhanced Enforcement Powers Act of 1988 - Subtitle A: Insider Abuse Prevention and Enhanced Enforcement Powers - Amends the Federal Deposit Insurance Act, the Home Owners' Loan Act of 1933, and the National Housing Act to make employees, agents, and shareholders of banks and thrift institutions subject to administrative enforcement orders. Amends the Federal Credit Union Act to make committee members, employees, or agents of an insured credit union subject to administrative enforcement orders. (Current law provides that only officers and directors of depository institutions are subject to such enforcement orders.) Revises the authority of the Federal Deposit Insurance Corporation (FDIC), the Federal Home Loan Bank Board (FHLBB), the Federal Savings and Loan Insurance Corporation (FSLIC), and the National Credit Union Administration (NCUA) to issue cease and desist orders concerning depository institutions within their respective jurisdictions. Allows such agencies to issue cease and desist orders to: (1) require affirmative action to correct conditions resulting from certain violations or practices, including making restitution or reimbursement, providing indemnification, rescinding contracts, or disposing of assets or loans; (2) limit the activities or functions of the depository institution or any director, officer, or other person participating in the conduct of the affairs of the institution; and (3) require the cessation of certain activities if the depository institution's books and records are incomplete or inaccurate or require the restoration of books and records to a complete and accurate state. Revises rules concerning the suspension or removal of a director or officer of a depository institution due to misconduct by the FDIC, the FHLBB, the FSLIC, and the NCUA. Deletes the requirement that the regulatory agency must show misconduct by an officer or director which results in "substantial" financial loss or other damage to the depository institution. (Allows the temporary removal of an officer or director for misconduct pending a permanent removal if necessary for the protection of the institution or depositors). Provides for identical standards for such removal regardless of where the misconduct occurred. (Current law provides for different standards depending on whether the misconduct took place at another institution or business enterprise or at the particular institution from which removal is sought.) Allows the regulatory agency involved to seek such a suspension or removal in cases where an officer or director has violated any written agreement between the institution and the regulatory agency. Prohibits any person who has been removed or suspended from office or prohibited from participating in the affairs of a depository institution by an order of the FDIC, the FHLBB, the FSLIC, or the NCUA from holding any office in, or participating in the affairs of, any federally regulated depository institution or holding company or subsidiary. (Presently, the regulatory agency can only prohibit persons from participating in the affairs of the institution in which he or she is presently located.) Allows an exception to such prohibition upon written approval of the appropriate regulatory agency. Provides for the judicial review of denial of such an exception. Authorizes the FDIC, the FHLBB, the FSLIC, and the NCUA to provide notice of the intention to prohibit any person from participating in the affairs of any federally regulated depository institution, notwithstanding the fact that such person has ceased to hold the position of officer or director or has ceased to participate in the conduct of the affairs of such a depository institution before such notice is served. Increases from $1,000 per day to $2,500 per day the civil penalty for the violation of a cease and desist order or an order for the suspension or removal of an officer or director issued by a Federal banking regulatory agency. Imposes a $2,500 civil penalty (in addition to penalties for violations of such orders) for a violation of: (1) any law or regulation; (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 written agreement between the depository institution and the appropriate Federal banking agency. Imposes criminal penalties upon any person who participates in the affairs of any federally regulated depository institution or holding company or subsidiary after having been suspended, removed from office, or prohibited from participating in the affairs of any depository institution by an order of the appropriate Federal banking regulatory agency. (Current law imposes criminal penalties only for participating in the affairs of the institution from which the person was prohibited, removed, or suspended.) Revises procedures for the termination of FDIC deposit insurance to delete provisions requiring 120 days' advance notice by the FDIC to the appropriate Federal and State banking regulatory agencies prior to such a termination. Increases from $100 per day to $2,500 per day the penalty for unauthorized participation in the affairs of a depository 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.) Authorizes the FHLBB and the FSLIC to issue civil enforcement orders concerning a service corporation of an association or a subsidiary of such service corporation, whether wholly or partly owned. (Current law limits such authority to orders concerning an affiliate service corporation of an association.) Amends the Bank Protection Act of 1968 to repeal requirements for depository institutions to submit periodic reports with regard to the installation, maintenance, and operation of security devices and procedures. Imposes civil penalties for the filing of false or misleading reports of condition by depository institutions and holding companies. (Current law allows penalties only for late reports.) Requires the FDIC, the FHLBB, the FSLIC, and the NCUA to publicly disclose all notices and orders with respect to any enforcement proceeding initiated against any depository institution or individual. Deletes the "willful" standard for penalties for violations of the Change in Bank Control Act and the Change in Savings and Loan Control Act. Subtitle B: Report to Congress - Requires the Comptroller of the Currency, the Federal Reserve Board, the FDIC, the FHLBB, the FSLIC, and the NCUA to submit annual reports to the Congress concerning: (1) the number of formal and informal supervisory, administrative, and civil enforcement actions undertaken by the agency; (2) the number of individuals and institutions against whom civil money penalties were assessed; (3) a description of all other enforcement efforts and initiatives relating to unsafe and unsound practices; and (4) recommendations concerning the need for additional legislation or financial resources. Title VII: Federal Asset Disposition Association - Federal Asset Disposition Association Dissolution Act - Amends the National Housing Act to specify that the purpose of the establishment of new savings and loan associations in connection with a liquidation is to make insured accounts available to association members. Specifies that provisions of the National Housing Act shall not be construed as authorizing the Federal Savings and Loan Insurance Corporation (FSLIC) to organize a new Federal association for the purpose of managing or disposing of any assets: (1) of an insured institution for which the FSLIC has been appointed receiver; or (2) acquired by the FSLIC in order to prevent a default. Authorizes the FSLIC to delegate such liquidation functions to an appropriate regional office. Prohibits the Federal Asset Disposition Association (FADA) from engaging in any new activities after the date of the enactment of this Act. Directs the FSLIC to require FADA to assign all its rights and obligations under any contract to the FSLIC. Requires the FSLIC, within 60 days after the enactment of this Act, to revoke the charter of FADA and assume its assets and liabilities. Specifies that this Act shall not be construed as any recognition or ratification by the Congress of: (1) any authority of the FSLIC to charter FADA; or (2) any authority of FADA to act on behalf of the FSLIC. Requires the FSLIC to prepare and submit to the Congress a report describing: (1) the manner in which the dissolution of FADA was implemented; (2) the results of such dissolution; and (3) FSLIC's actions as the receiver of FADA. Specifies certain information to be included in such report. Requires the FSLIC to take such action as may be necessary to ensure that the FSLIC and all officers and employees of the FSLIC maintain full compliance with the competitive procurement requirements of the Federal Property and Administrative Services Act of 1949. Requires the FSLIC to liquidate the assets of insolvent savings and loan associations in a manner which: (1) minimizes the cost to the FSLIC; (2) maximizes the return which the FSLIC realizes on the assets; and (3) encourages the use of services of persons in the private sector in managing and disposing of such assets to the maximum extent possible. Requires the FSLIC to ensure that no individuals are employed by the FSLIC under personal service contracts except to the extent that such employment: (1) does not exceed 60 days in any one-year period; or (2) is determined to be necessary because of unusual circumstances which do not allow the position involved to be filled by a civil service employee. Provides that the number of asset liquidation personnel employed by the FSLIC shall not be subject to any limitation imposed by any officer of the executive branch who is not an officer of the FSLIC. Imposes a statutory limit on the number of asset liquidation employees that may be employed at any time by the FSLIC. Requires the FSLIC to establish an employment grade structure for asset liquidation employees which is comparable to the grade structure for employees of the Federal Deposit Insurance Corporation who manage or dispose of assets. Requires representatives of specified Government agencies and the private sector to conduct a multiagency study on options for reducing the duplication, overlap, and inconsistency among Federal agencies and instrumentalities and for making better use of private sector resources in managing and disposing of assets. Requires that a report concerning the results of such study be submitted to the Congress within one year after the enactment of this Act. Title VIII: Miscellaneous Provisions and Technical and Conforming Amendments Relating to Reorganization - Amends the Depository Institutions Management Interlocks Act to extend from ten to 15 years the exemption from the requirements of such Act for depository institution management officials whose service began before the enactment of such Act. Requires the Federal Reserve Board, in consultation with the Attorney General, Comptroller General, and the FDIC, to prepare a study of the effects that hostile acquisitions in the banking industry could have on the U.S. banking and financial markets. Specifies the issues to be included in such study. Requires the Federal Reserve Board to report to the Congress concerning the results of such study. Requires the Secretary of the Treasury to consult with the appropriate Federal banking agencies on methods for increasing the use of underutilized minority banks as depositaries or financial agents of Federal agencies. Requires the Secretary and each appropriate Federal banking agency to submit a report to the Congress concerning any actions taken to increase such use of underutilized minority banks. Amends the Equal Credit Opportunity Act to prohibit discrimination in providing credit on the basis of any course of study pursued or intended to be pursued by the applicant. Amends the National Housing Act to exempt from cross-marketing restrictions subsidiaries of a diversified savings and loan holding company having assets of less than a specified amount. Amends the Bank Holding Company Act of 1956 to prohibit a nonbank bank controlled by a bank holding company from making commercial loans or accepting demand deposits or transaction accounts unless the Federal Reserve Board allowed such activity as of specified dates. Allows: (1) a national bank or bank holding company to own stock in a bankers' bank or bankers' bank holding company; and (2) a bankers' bank holding company to own qualified securities subsidiaries. Extends for two years (until August 10, 1990) the limit on the asset growth of nonbank banks. Makes certain technical and conforming amendments to the Bank Holding Company Act of 1956.
Law· HRH.R. 5050 (100th)enacted
United States · United States Congress · 14 July 1988
Women's Business Ownership Act of 1988 - Title I: Congressional Findings and Purposes - Sets forth congressional findings and purposes with respect to small businesses owned and controlled by women. Title II: Demonstration Projects - Amends the Small Business Act to direct the Small Business Administration (SBA) to provide financial assistance to private organizations to conduct demonstration projects giving financial, management, and marketing assistance to small businesses, including start-up businesses, owned and controlled by women. Describes application criteria. Requires the SBA to report to the congressional Small Business Committees on the projects. Terminates authority for this pilot program on October 1, 1991. Authorizes appropriations. Title III: Procurement Assistance - Amends the Small Business Act to include small business concerns owned and operated by women as a discrete group for purposes of Government contracts and subcontracts and procurement programs. (Current law governing these programs refers expressly only to small business concerns and small business concerns owned and controlled by socially and economically disadvantaged individuals as groups targeted for assistance.) Instructs the Director of Small and Disadvantaged Business Utilization of each Federal agency to designate a Women-in-Business Specialist to be responsible for programs designed to assist concerns owned and controlled by women. Directs Federal agencies, in their procurement activities, to engage in affirmative action to identify and solicit offers from small businesses owned and controlled by either women or socially and economically disadvantaged individuals. Title IV: Access to Capital - Amends the Consumer Credit Protection Act to prohibit the Federal Reserve Board, except under limited circumstances, from exempting from such Act's provisions any class of transactions that are primarily for personal, family, or household purposes, or business or commercial loans made available by a financial institution. Limits to five years any exemption authorized under the circumstances specified in this Act, unless a subsequent determination is made that the exemption remains appropriate. Requires lenders to keep records relating to loans and to provide written notice to applicants of their right to receive notice of reasons for a loan denial. Authorizes the SBA to establish a certified loan program for lenders that display knowledge and proficiency with respect to SBA regulations and programs. Directs the SBA to encourage small business loans of $50,000 or less under both this new program and the preferred lenders program in FY 1989 through 1991 by permitting participating lenders to: (1) use their own forms without regard to SBA paperwork; and (2) retain one-half of the loan guarantee fee. Requires SBA reporting to specified congressional committees in connection with the certified loan program. Directs the Federal Reserve Board, the Comptroller of the Currency, the Department of Commerce, and the SBA jointly to study levels of availability of and demand for debt and equity capital by small businesses, as well as innovative financing techniques to meet any unmet demand. Requires reporting to the congressional Small Business Committees. Title V: National Women's Business Council - Establishes the National Women's Business Council to review the status of women-owned businesses nationwide and to develop detailed multiyear plans in connection with both private and public sector actions to assist and promote such businesses. Requires annual reporting to both the President and the Congress. Title VI: Statistical Data and Effect on Other Programs - Directs: (1) the Bureau of Labor Statistics to include in its census reports on women-owned businesses specified information on sole proprietorships, partnerships, and corporations; (2) the Bureau of the Census to include in its Business Census data the number of corporations that are 51 percent or more owned by women; (3) the SBA's Office of the Chief Counsel for Advocacy to report on the most cost-effective and accurate ways to gather and present the statistics required in these census reports; and (4) Federal agencies to report to the Office of Federal Procurement Policy the number of first-time contract recipients that are small businesses owned and controlled either by women or by socially and economically disadvantaged individuals. Requires the President's annual Report on Small Business and Competition to include in separate detail information relevant to small businesses owned and controlled either by women or by socially and economically disadvantaged individuals.
Bill· HRH.R. 5075 (100th)referred
United States · United States Congress · 14 July 1988
Eliminates post-1968 service in the National Guard as a prerequisite to civil service retirement credit for former National Guard technicians. Amends the National Guard Technicians Act of 1968 to eliminate post-1968 service as a prerequisite for National Guard technicians to receiving credit in the determination of length of Federal civil service for purposes of leave, Federal employees' death and disability compensation, group life and health insurance, severance pay, tenure, and status. Sets forth rules for applying provisions of this Act to affected individuals.
Resolution· HCONRESH.Con.Res. 339 (100th)referred
United States · United States Congress · 14 July 1988
Resolves that the Congress should implement policies under which: (1) the Bell operating companies would be permitted to provide information services, conduct research, design and market software, and design, manufacture, and market telecommunications equipment and customer premises equipment; and (2) statutory safeguards would ensure that these Bell activities would not harm telephone service customers or competition in the information services or manufacturing industries and would prevent cross subsidies between regulated and unregulated service offerings.
Bill· HJRESH.J.Res. 609 (100th)referred
United States · United States Congress · 12 July 1988
Prohibits the proposed sale of F/A-18C/D aircraft, Cluster bomb units, and Sidewinder, Sparrow, Harpoon, and Maverick missiles to Kuwait.
Bill· HRH.R. 5020 (100th)referred
United States · United States Congress · 12 July 1988
President's Pro-Life Act of 1988 - Prohibits the use of Federal funds for abortions, except when continuing the pregnancy would endanger the mother's life.
Bill· HRH.R. 5010 (100th)open
United States · United States Congress · 11 July 1988
Amends the Water Resources Research Act of 1984 to reauthorize the grant program for water resources research and technology institutes on a dollar-for-dollar matching basis for FY 1989 through 1993. Requires that such funds be used only for the reimbursement of direct cost expenditures incurred for the conduct of the water resources research program. Directs the Secretary of the Interior to conduct an evaluation of each institute every five years to determine if it qualifies for further support. (Currently the Secretary must make such determination every four years.) Extends the authorization of appropriations for the grant program from FY 1989 through 1993. Authorizes appropriations for FY 1989 through 1993 only for the reimbursement of the direct cost expenses of additional research by institutes which focuses on water problems and issues of a regional or interstate nature beyond those of concern only to a single State and which related to specific program priorities identified jointly by the Secretary and the institutes. Requires such funds when appropriated to be matched on a not less than dollar-for-dollar basis by non-Federal sources. Extends the authorization of appropriations from FY 1989 through 1993 for the matching grant research program concerning any aspect of a water resource-related problem which the Secretary deems to be in the national interest. Authorizes appropriations to extend the technology grant program from FY 1989 through 1993.
Bill· HRH.R. 4990 (100th)referred
United States · United States Congress · 7 July 1988
Affordable Housing Act - Title I: Housing Assistance - Directs the Secretary of Housing and Urban Development to provide construction and rehabilitation grants and operating assistance in order to expand and maintain the permanent supply of affordable housing for very low-income and other lower income families. Grants priority to homeless families. Sets forth program requirements, including recipient preferences, tenant rights, and assistance use restrictions. Requires an annual program report to the Congress. Authorizes appropriations beginning in FY 1989. Terminates such authorization upon the acquisition, construction, or rehabilitation of a specified number of housing units. Title II: Revenue Measures - Amends the Internal Revenue Code to increase to 25 percent the rate of the alternative minimum tax for both corporate and noncorporate taxpayers. (The current corporate rate is 20 percent, 21 percent for noncorporate taxpayers.) Reduces from 80 percent to 50 percent the income tax deduction for business meal and entertainment expenses. Amends provisions relating to the basis for calculating taxes on property a taxpayer acquires from a decedent to: (1) eliminate a special rule with respect to the stock of a domestic international sales corporation (DISC); (2) update the carryover basis rules to refer to property acquired from decedents dying after December 31, 1988 (current law refers to 1979); and (3) permit a tax exclusion of gain when an estate's executor uses certain appreciated carryover basis property to satisfy the right of a person to receive a pecuniary request. Repeals capital gains rules relating to foreign investment company stock acquired from a decedent. Requires estate executors to: (1) file information returns in connection with carryover basis property; and (2) provide written notice to recipients of such property. Prescribes penalties for failure to report. Increases the excise taxes on cigars (from 75 cents to $1.88 per thousand for small cigars), cigarettes (from eight cents to 16 cents per thousand for small cigarettes and from $16.80 to $33.60 per thousand for large cigarettes), cigarette papers and tubes, and smokeless tobacco (from 24 cents to 60 cents per pound for snuff and from eight cents to 20 cents per pound for chewing tobacco).
Bill· HRH.R. 4981 (100th)referred
United States · United States Congress · 7 July 1988
Emergency Bank Consolidation Act of 1988 - Amends the Bank Holding Company Act of 1956 to authorize the Federal Reserve Board (Board) to order a bank holding company to: (1) reorganize any or all of its affiliated banks as subsidiaries of a bank in danger of closing; (2) cause any or all of its subsidiary banks located in the same State to merge with or purchase the assets and assume the liabilities of a bank in danger of closing; (3) cause a bank in danger of closing to merge with, or purchase the assets and assume the liabilities of, any or all of the bank holding company's subsidiary banks located in the same State; (4) contribute or transfer or provide to a bank in danger of closing such assets or services as are customarily utilized by a bank in the conduct of its business or operations; or (5) take any combination of such actions. Specifies that the Board may use such authority only if the Federal Deposit Insurance Corporation (FDIC) certifies and recommends that such action is necessary in cases where: (1) an insured bank is in danger of closing; and (2) such actions will lessen the risk to the Federal Deposit Insurance Fund or severe financial conditions exist which threaten the stability of a significant number of banks in the community where the endangered bank is located. Requires the Board to take reasonable efforts to assure that any transfer of assets or securities involving such banks shall not exceed an amount that is reasonably necessary to provide adequate capitalization to such banks. Provides that the Board may use such authority notwithstanding any other provision of this Act, Federal or State bankruptcy laws, any other Federal or State law, the constitution of any State, or any contract or other instrument or security. Specifies that any order issued by the Board under the Authority granted in this Act shall not be subject to judicial review. Specifies that certain provisions of the Bank Holding Company Act, the national banking statutes, the Federal Deposit Insurance Act, and the Hart-Scott-Rodino Antitrust Improvements Act of 1976 shall not apply to action of the Board taken under the authority granted in this Act. Limits the right of private parties to prevent a consolidation ordered by the Board under the authority of this Act. Allows any creditor of a bank holding company subject to such an order to request the Board to appraise the value of debt owed to such creditor. Allows any shareholder of a bank holding company subject to such an order to request the Board to appraise the value of stocks held by the stockholder. Authorizes the FDIC to compensate any creditor or shareholder for the value of the appraised debt or stock.
Bill· HRH.R. 4923 (100th)open
United States · United States Congress · 28 June 1988
Amends the Racketeer Influenced and Corrupt Organizations Act (RICO) to require a showing of proof by a preponderance of the evidence for a U.S. district court to issue orders to prevent and restrain violations of prohibited racketeering activities. Revises the civil action requirements for persons aggrieved by RICO violations. Permits governments as well as persons to bring such an action. Provides for the recovery of treble damages upon proof by a preponderance of the evidence: (1) where a government entity has been injured as a result of such violations; or (2) for persons injured by such violations, if a criminal conviction of the defendant is obtained. Allows a person aggrieved by a RICO violation to recover, upon proof by a preponderance of the evidence, punitive damages under certain circumstances. Lists factors to be considered in determining the amount of punitive damages, including: (1) the degree of culpability of the defendant; (2) any history of similar conduct by the defendant; and (3) the number of persons victimized. Provides for the recovery of punitive damages, upon proof by a preponderance of the evidence, for persons who suffer bodily injury as a result of a RICO violation that includes a crime of violence as a predicate act. Sets a statute of limitations for such actions of: (1) four years after the cause of action accrues; (2) four years after the conduct causing the injury terminates; (3) two years after the date of the criminal conviction (required for a treble damage cause of action); or (4) six years after the cause of action accrues if such action is brought by a specified official for the Federal Government or a State or local government. Provides an affirmative defense where the defendant acted in good faith and in reliance upon an official, directly applicable regulatory action, approval, or interpretation of law by an authorized Federal or State agency in writing or by operation of law. Provides that an action under this Act shall not abate on the death of the plaintiff or defendant and shall be enforceable against a receiver in bankruptcy. States that in a civil action which does not allege a crime of violence as a predicate act: (1) the term "racketeer" shall not be used in referring to any party; (2) "racketeering activity" shall be referred to as "unlawful activity"; and (3) "pattern of racketeering activity" shall be referred to as "pattern of unlawful activity." Describes offenses which are predicate acts constituting crimes of violence for purposes of a civil action alleging such crime. Amends the criminal penalties section of the RICO statute to provide for life imprisonment if the violation of such statute is predicated on an offense for which the maximum penalty includes life in prison. Sets forth additional predicate offenses. Provides for universal service of process. States that nothing in RICO shall be construed to confer jurisdiction on a State or local unit of government.
Resolution· HCONRESH.Con.Res. 320 (100th)open
United States · United States Congress · 21 June 1988
Expresses the sense of the Congress that the Secretary of the Treasury should not regulate the donation of articles intended to relieve human suffering in Nicaragua, except as authorized for the President under the International Emergency Economic Powers Act.
Bill· HJRESH.J.Res. 592 (100th)passed
United States · United States Congress · 16 June 1988
Designates the Labor Day Weekend beginning on September 3, 1988, as National Drive for Life Weekend. Calls on people to observe that weekend with a pledge to not drink and drive.
Bill· HRH.R. 4853 (100th)open
United States · United States Congress · 16 June 1988
Money Laundering Control Amendments of 1988 - Prohibits financial institutions from issuing or selling any bank check, cashier's check, traveler's check, or money order to any individual in connection with any transaction which involves U.S. coins or currency (or other monetary instruments) in amounts or denominations of $3,000 or more, unless: (1) the individual has an account which is verified by the institution and such verification is recorded; or (2) the individual furnishes identification which is verified and recorded by the financial institution. Requires financial institutions to furnish to the Secretary of the Treasury upon request any such information required to be recorded in connection with such transactions. Authorizes the Secretary to prescribe regulations requiring domestic financial institutions to obtain information, keep records, and submit reports concerning: (1) its transactions involving monetary instruments that exceed amounts which the Secretary may prescribe; and (2) other parties participating in the transactions. Amends the Right to Financial Privacy Act of 1978 to exempt from the confidentiality provisions of such Act the financial records of officers, directors, employees, or controlling shareholders of a financial institution when such records are provided by the financial institution or supervisory agency to the Attorney General or a State law enforcement agency if there is reason to believe such records are relevant to crimes by such persons against financial institutions or supervisory agencies or violations of statutes governing recordkeeping and reporting on monetary instruments transactions. Revises the good faith defense to conform to such exemption. Allows a grand jury to be provided with a description of the contents of financial records if the volume of such records makes such return and actual presentation impractical. Authorizes the Secretary to delegate to the U.S. Postal Service the powers and duties in connection with records and reports on monetary instruments transactions. Amends the Federal Deposit Insurance Act and the National Housing Act to impose a civil penalty of up to $10,000 on insured institutions and their principals and personnel that willfully violate recordkeeping and reporting requirements. Revises provisions describing the range of uninsured entities subject to financial recordkeeping requirements. Increases from $1,000 to $10,000 the penalty for violations of recordkeeping requirements for such uninsured entities.
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