Bill· HRH.R. 5975 (101st)open
United States · United States Congress · 27 October 1990
Budget Process Reform Act - Title I: Statement of Congressional Purpose - Declares that the purpose of this Act is to facilitate rational, informed, and timely decisions by the Congress. Expresses the sense of the Congress that the Federal budget process should focus the attention of policymakers and the public on the aggregate impact of Federal spending on the economy, and on the tradeoffs that must be made among priorities in order to control overall levels of spending. Declares that the budget process should contain safeguards against delay and inaction, so that temporary shut-downs of the Government may be avoided. Title II: Binding Budget Law - Requires the Congress to enact a binding budget law, in the form of a joint resolution, by April 15 of the calendar year before that in which the fiscal period commences. Requires the budget law to fit on a single page, which sets forth specific budget ceilings in major functional categories. Makes it out of order in the House of Representatives or the Senate to consider any spending bill affecting spending in a major functional category unless and until a joint resolution on the budget is enacted. Amends the Congressional Budget Act of 1974 to prohibit baseline budgeting. Requires the budget to include comparisons of current fiscal year and proposed subsequent fiscal year spending. Title III: Enforcement Mechanisms - Subtitle A: Super majority Required to Break Budget Law - Requires a two-thirds majority vote in the House and the Senate to consider any spending bill prior to the enactment of the budget law. Requires the Congressional Budget Office to provide to the Congress an estimate of the costs in each major functional category of any spending bill as soon as practicable after its introduction. Limits such estimates to those bills likely to result in costs of more than $10,000,000. Requires a two-thirds affirmative vote in the House and the Senate to consider over-budget spending bills. Requires a two-thirds affirmative vote in the House and the Senate to waive any provision of this Act. Subtitle B: Limited Enhanced Rescission Authority - Amends the Impoundment Control Act of 1974 to limit the President's rescission authority to spending that is above the limits of the budget law. Subtitle C: "Blank Check" Appropriations Prohibited - Declares the intent of the Congress to end open-ended, "blank check" appropriations which typically authorize spending "such sums as may be necessary." Requires fixed-dollar appropriations for every account except social security and interest on the debt. Prohibits open-ended appropriations. Requires Executive agencies to adjust benefit levels to ensure that appropriations for entitlement programs are not exceeded. Subtitle D: "Pay As You Go" Requirement for New Spending - Prohibits the Congress from considering any legislation which exceeds the budget ceiling unless it offsets such increased spending with an equal amount of reductions. Requires a two-thirds affirmative vote in the House and the Senate to waive such prohibition. Title IV: Sustaining Mechanism - Makes appropriations to provide for an automatic continuing resolution if for any account an appropriation for a fiscal period does not become law before the beginning of such period. Restricts legislation providing funding to the Committees on Appropriations. Title V: Protection of Social Security - Provides that no reduction in benefits under title II (Old Age, Survivors and Disability Insurance) of the Social Security Act shall be made as a consequence of this Act. Title VI: Timetable - Revises the timetable for the congressional budget process. Title VII: Conforming Amendments - Makes various technical and conforming amendments, including changing references to a concurrent resolution on the budget to references to a joint resolution on the budget. Title VIII: Definitions and Rules of Interpretation - Sets forth definitions for specified terms. Title IX: Effective Date - Declares the effective date of this Act to be January 1, 1991, applicable to fiscal years beginning after September 30, 1991.
Bill· HRH.R. 5916 (101st)referred
United States · United States Congress · 24 October 1990
Amends the Energy Policy and Conservation Act to direct the President to use the Strategic Petroleum Reserve in the event of a domestic energy supply shortage. Amends the Export Administration Act of 1979 to prohibit the export of a refined petroleum product except pursuant to an export license specifically authorizing it. Precludes the issuance of such license without the approval of the Secretary of Energy. Requires the Secretary to notify certain congressional committees of the export license application, the name of the exporter, the destination, and the amount and price of the proposed export. Directs the Attorney General to report to specified congressional committees the findings of a special investigation to determine the extent to which domestic or foreign petroleum product suppliers may be charging excessive prices or manipulating the market in violation of antitrust laws. Expresses the sense of the Congress that the President should seek equitable payments from Saudi Arabia for the deployment and maintenance of troops in that country.
Law· HJRESH.J.Res. 673 (101st)enacted
United States · United States Congress · 17 October 1990
Expresses the sense of the Congress that the President should declare November 2, 1990, a national day of prayer for: (1) members of American military forces and American citizens stationed or held hostage in the Middle East, and for their families; and (2) American and Iraqi authorities to bring about a just resolution of the Persian Gulf crisis.
Bill· HRH.R. 5824 (101st)referred
United States · United States Congress · 12 October 1990
Amends the Solid Waste Disposal Act to authorize a State to enforce laws collecting fees in connection with the treatment and disposal within such State of solid waste generated in another State. Permits a State, after the submission to the Administrator of a certification under this Act, to enforce laws regulating the treatment and disposal of solid waste within the State. Authorizes any State which has adopted a 20-year solid waste management plan to submit a certification to the Administrator of the Environmental Protection Agency on the solid waste treatment and disposal capacity of the State. Sets forth minimum requirements of the plan. Permits the Governor of each State which has adopted a 20-year management plan to certify to the Administrator that the State has adequate capacity to manage all solid waste generated in the State or received from other States for the following 60-month period. Exempts specified types of waste from regulation under this Act. Grants congressional approval to agreements or compacts entered into by two or more States for cooperative efforts and mutual assistance for solid waste management. Authorizes the Administrator to promulgate regulations exempting waste types or recycling practices from the authority granted to States under this Act if such action promotes the development of an interstate market for recyclable materials or is necessary to promote environmentally sound waste disposal practices.
Law· HJRESH.J.Res. 667 (101st)enacted
United States · United States Congress · 10 October 1990
Designates November 16, 1990, as National Federation of the Blind Day.
Bill· HRH.R. 5781 (101st)referred
United States · United States Congress · 3 October 1990
Authorizes the Secretary of the Army to provide shoreline protection to maintain the integrity of flood control projects at specified points on the Mississippi and Iowa Rivers. Authorizes appropriations.
Bill· HRH.R. 5701 (101st)referred
United States · United States Congress · 24 September 1990
Amends the Energy Policy and Conservation Act to authorize the President to restrict exports of petroleum products, including refined petroleum products. Amends the Export Administration Act of 1979 to prohibit the export of a refined petroleum product except pursuant to an export license specifically authorizing it. Precludes the issuance of such license without the approval of the Secretary of Energy. Requires the Secretary to notify certain congressional committees of the export license application, the name of the exporter, the destination, and the amount and price of the proposed export.
Bill· HRH.R. 5679 (101st)open
United States · United States Congress · 19 September 1990
Developmental Disabilities Assistance and Bill of Rights Act of 1990 - Amends the Developmental Disabilities Assistance and Bill of Rights Act (the Act) to require that the Federal share, under provisions concerning planning priority area activities for persons with developmental disabilities (PWDDs) and provisions concerning university affiliated programs, of projects targeting people who live in (currently, projects located in) urban or rural poverty areas not exceed 90 percent. Allows the non-Federal share of any project under such planning provisions (currently, any project under the Act) to be provided in kind. Modifies requirements regarding the contents of an annual report by each State Planning Council to the Secretary of Health and Human Services. Changes from April 1 to July 1 the due date for an annual report by the Secretary to the President, the Congress, and the National Council on Disability (currently, the President, the Congress, and the National Council on the Handicapped) and modifies requirements regarding the report's contents. Requires that representatives of the Administration on Children, Youth and Families, the Administration on Aging, and the Health Resources and Services Administration be included on an interagency committee established under existing provisions. Requires open committee meetings and publication of meeting notices and agendas. Modifies requirements regarding State plan contents and accompanying assurances. Requires a limited portion of a State allotment to be available to pay up to one-half of the expenditures for the administration of the State plan (currently, for the exercise of the functions of the State designated agency). Allows State contributions under these provisions to be counted as part of that State's non-Federal share of allotments. Allows the State Planning Council, after October 1, 1990, to request review by the Governor of the designation of the designated State agency. Removes certain reporting requirements applicable to each State Planning Council and each Governor. Requires each State Planning Council to use information developed under specified provisions in developing the State plan. Requires that each State Planning Council serve as an advocate for all PWDDs by carrying out priority area activities. Requires (currently, allows) each State Planning Council to prepare and approve a budget using amounts paid to the State under the provisions relating to planning priority area activities to fund activities under such provisions and to hire staff and obtain the services of such personnel as necessary. Requires each State Planning Council to hire a director and to develop and submit the State plan after consultation with (currently, develop the State plan jointly with) the State designated agency. Revises the formula for determining the amount of allotments under provisions relating to planning priority area activities for PWDDs. Authorizes appropriations. Requires that a State system for protection and advocacy of individual rights of PWDDs (the system) annually: (1) develop a statement of objectives and priorities (currently, a statement of objectives); and (2) provide for comment by the public and specified others (currently, by the public). Modifies requirements regarding the right of the system to access to all records of certain PWDDs. Changes the notice and appeal requirements which must be met before a State may redesignate the agency implementing the system. Directs (currently, authorizes) the Secretary, whenever appropriations exceed previous year appropriations by more than the increase in the Consumer Price Index, to increase allotments for State systems according to a specified formula. Provides for the selection of members of a multimember governing board of a State system. Declares that: (1) the Act does not preclude a system from bringing a suit on behalf of PWDDs against a State or its agencies or instrumentalities; and (2) amounts received pursuant to such suits and used by the system are limited to furthering the purposes of provisions relating to protection and advocacy of individual rights for PWDDs and shall not be used to augment payments to legal contractors or to award personal bonuses. Directs the Secretary, notwithstanding any other provision of law, to pay allotments directly to any system which complies with such provisions relating to protection and advocacy. Authorizes appropriations for allotments under such provisions. Adds to the list of purposes of grants to university affiliated programs (UAPs) that of training personnel to address the needs of PWDDs in the areas of positive behavior management, assistive technology, and programs in other areas of national significance. Requires grants to UAPs to be: (1) in a specified amount, subject to waiver and exception; (2) awarded on a competitive basis; and (3) awarded for a period of three years. Directs the Secretary to require technical and qualitative review of grant applications by peer review groups as established under existing provisions and using specified criteria. Prohibits using the grants for administrative expenses or to carry out provisions relating to grants to UAPs to assist in the administration and operation of UAPs. Specifies the mandatory and permissive uses for grants for positive behavior management, assistive technology, and programs in other areas of national significance. Requires that recipient UAPs establish consumer advisory committees. Requires UAPs, in order to be eligible for funding under these provisions, to have: (1) been operated for at least one year; and (2) demonstrated the capacity to develop an effective training program during the first year the program is operated. Extends through FY 1993 the requirement that the Secretary consider four applications for grants for UAPs or satellite centers for each fiscal year in addition to those receiving grants for the preceding fiscal year. Directs the Secretary to solicit and allows the Secretary to approve applications that encompass multiple universities. Requires such UAPs and centers to be geographically distributed so as to serve States that are underserved as of October 29, 1990. Allows the Secretary, in certain circumstances, to consider applications from States already served by a UAP or center. Adds references to on-site visits and inspections to provisions requiring technical and qualitative peer review. Requires such peer review to be coordinated with certain other peer review. Authorizes appropriations for UAPs. Adds references to improving supportive living and quality of life opportunities which enhance recreation, leisure, and fitness to the list of projects of national significance. Authorizes the Secretary to make grants and enter into contracts for technical assistance and demonstration projects which expand or improve the functions (currently, the advocacy functions) of the State Planning Council, and for other purposes similar to existing provisions. Authorizes appropriations to carry out provisions relating to projects of national significance.
Bill· HRH.R. 5632 (101st)referred
United States · United States Congress · 17 September 1990
Plastic Recycling Assistance Act of 1990 - Directs the Administrator of the Environmental Protection Agency to require plastic containers manufactured or offered for sale in the United States to be coded to identify the principal plastic resin used in such containers. Establishes a symbol and numbers identifying specific types of resins, including degradable resins, for such codes. Prohibits States or political subdivisions from: (1) enforcing any law applicable to plastic coding unless requirements are the same as requirements under this Act; and (2) enforcing any ban on plastic containers coded in compliance with this Act. Prescribes civil and criminal penalties for violations of this Act. Requires the Administrator to study and report to the Congress on technology to facilitate the automated sorting of municipal solid waste from nonrecyclable wastes and to separate such wastes by type or category. Authorizes appropriations.
Bill· HRH.R. 5570 (101st)referred
United States · United States Congress · 11 September 1990
Grants free mailing privileges to members of the armed forces who are temporarily deployed overseas for an operational contingency in arduous circumstances. Provides for reimbursement of the U.S. Postal Service for matter sent in the mails under such authority from legislative branch appropriations for franked mailings. Terminates such provisions on June 30, 1991.
Bill· HRH.R. 5585 (101st)referred
United States · United States Congress · 11 September 1990
Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to subject the pay of the Vice President, Members of Congress, the Director of the Office of Management and Budget, and heads of cabinet departments of the executive branch to sequestration. Expresses the sense of Congress that the President forgo pay equal to the percentage reduction in effect under an order relating to the budget account for the Office of the President.
Bill· HJRESH.J.Res. 648 (101st)referred
United States · United States Congress · 6 September 1990
Designates October 1990 as National AIDS Awareness and Prevention Month.
Resolution· HCONRESH.Con.Res. 364 (101st)referred
United States · United States Congress · 5 September 1990
Expresses the sense of the Congress that the President should: (1) direct the Department of Energy to take action (including prequalifying of bidders) to draw down the Strategic Petroleum Reserve at a rate which assures an adequate crude oil supply to the market place; and (2) implement such drawdown in coordination with similar drawdowns of government-controlled stocks of crude oil by other member nations of the International Energy Agency.
Bill· HJRESH.J.Res. 638 (101st)referred
United States · United States Congress · 3 August 1990
Designates the week of September 23, 1990, as Religious Freedom Week.
Bill· HJRESH.J.Res. 637 (101st)referred
United States · United States Congress · 3 August 1990
Designates September 1991 as National Rice Month.
Bill· HJRESH.J.Res. 636 (101st)referred
United States · United States Congress · 3 August 1990
Designates September 15 to October 15, 1990, as Community Center Month.
Bill· HJRESH.J.Res. 639 (101st)referred
United States · United States Congress · 3 August 1990
Designates October 17, 1990, as National Drug-Free Schools and Communities Education and Awareness Day.
Bill· HRH.R. 5416 (101st)referred
United States · United States Congress · 31 July 1990
Provides that the rate of pay of Members of Congress, judicial officers, and Executive Schedule positions shall be that in effect as of November 1, 1989. Repeals provisions of the Ethics Reform Act of 1989 which provided for a 25 percent salary increase beginning in 1991 for legislative, judicial, and Executive Schedule positions. States that nothing in this Act shall have the effect of reducing the pay of any individual whose compensation may not, under certain provisions of the U.S. Constitution, be diminished during such individual's continuance in office. Continues the current adjustment method.
Resolution· HCONRESH.Con.Res. 358 (101st)referred
United States · United States Congress · 30 July 1990
Expresses the sense of the Congress that Walker Percy of Covington, Louisiana, be remembered as one of the finest writers and contributors to the culture of the United States of the 20th century.
Bill· HRH.R. 5362 (101st)referred
United States · United States Congress · 25 July 1990
Employee Benefits Simplification Act - Title I: Nondiscrimination Provisions - Amends the Internal Revenue Code with respect to employee benefit plans. Redefines the term "highly compensated employee" for pension, profit sharing, stock bonus plans, etc. purposes. Makes such employee one who is a five-percent owner or who has compensation from the employer in excess of $50,000. Provides a special rule where no employees are treated as highly compensated. Redefines "compensation" to mean in general the amount of wages shown on the W-2 form for the calendar year. Allows self-employed individuals to use their earned income amount. Includes the following deferrals as those which an employer may elect to take into account when determining salary reduction contributions: (1) deferred compensation plans of State and local government and tax-exempt organizations; (2) contributions to an employee trust; and (3) trusts for benefit payments funded by employer contributions. Permits an employer to elect to use base pay for all purposes, other than indentifying highly compensated employees, in lieu of W-2 compensation. Provides that the cost-of-living adjustment with respect to any calendar year is based on the increase in the applicable index as of the close of the calendar quarter ending September 30 of the calendar year. Requires the rounding of such amounts to the nearest $1,000, except that elective deferrals and elective contributions to simplified employee pensions are rounded to the nearest $100. Provides that the minimum participation rule applies only to defined benefit pension plans. Requires such plans to benefit not less than 25 employees, or the greater of 40 percent of all employees or two employees (or if there is only one employee, such employee). Sets forth alternative methods of meeting nondiscrimination requirements for cash or deferred arrangements, including specified contribution and notice requirements. Sets forth alternative methods of satisfying the nondiscrimination test for matching contributions. Revises the method of distributing excess contributions to highly compensated employees. Title II: Distribution - Allows distributions from qualified pension plans to be rolled over tax-free to an individual retirement account or another qualified plan or annuity. Eliminates five-year averaging for lump-sum distributions from qualified plans. Requires certain tax-free distributions to be made in the form of a direct trustee-to-trustee transfer to an eligible individual retirement plan. Sets forth administrative requirements in making such distributions. Requires distributions to be made from qualified plans by April 1 of the calendar year following the later of: (1) the calendar year in which the employee attains age 70; or (2) the calendar year in which the employee retires. (Present law requires such distributions no later than April 1 of the calendar year following the calendar year in which the employee attains age 70 1/2.) Title III: Miscellaneous Provision - Revises the definition of a leased employee to include one whose services are performed under the control of a service recipient, instead of one whose services are historically performed by employees. Replaces the 59 1/2- and 70 1/2-year age requirement with 59- and 70-year age requirements for specified pension plans. Eliminates the special aggregation rules that apply to plans maintained by owner-employees that do not apply to other qualified plans. Makes the 150 percent current liability limitation on the deduction allowed for employer contributions to qualified pension plans inapplicable to multiemployer plans. Repeals the present law annual valuation requirement for such plans and applies the prior law requirement that valuations be performed at least every three years. Sets forth affiliation requirements for employers jointly maintaining a voluntary employees' beneficiary association. Makes the following limitation inapplicable to plans maintained by State and local governments and certain tax-exempt organizations: (1) excess benefit limitations; (2) compensation limitation on benefits; (3) limitations on disability and survior benefits; and (4) the limitation on benefits exceeding 100 percent of the participant's average compensation. Modifies provisions relating to simplified employee pensions. Increases the number of allowable participants for salary reduction arrangements from 25 to 100. Allows participation after one year of service (currently, three years of service is required). Repeals the requirement that at least 50 percent of eligible employees participate in a salary reduction arrangement. Eliminates certain requirements regarding contributions on behalf of disabled employees. Allows rural cooperative plans which include cash or deferred arrangements to make distributions to participants after attainment of age 59. Includes reports of pension and annuity payments in information returns and payee statements. Deletes reports of designated distributions from the scope of the $25 per day penalty. Provides a $10 reporting threshold for designated distributions.
Bill· HRH.R. 5353 (101st)referred
United States · United States Congress · 24 July 1990
Financial Crimes Prosecution and Recovery Act of 1990 as Reported By the Committee on the Judiciary of the House of Representatives - Title I: Enhanced Criminal Penalties - Amends Federal criminal law to establish criminal penalties (including imprisonment) for the concealment of assets from the Federal Deposit Insurance Corporation (FDIC) (acting as conservator or receiver) and the Resolution Trust Corporation (RTC) acting as conservator or receiver. Amends the Federal Deposit Insurance Act to prohibit certain felons convicted of dishonesty or breach of trust from controlling or participating in the affairs of a depository institution for a minimum ten-year period. Amends Federal criminal law to establish criminal penalties (including imprisonment) for obstructing any examination of a financial institution. Increases to 30 years (currently, 20 years) the maximum prison term for bank fraud and embezzlement. Establishes a ten-year statute of limitations for the prosecution of racketeering offenses involving financial institutions. Extends money laundering prohibitions to include funds from specified bank crimes. Directs the U.S. Sentencing Commission to promulgate guidelines for increased penalties for certain bank crime convictions in which the defendant derived more than $1,000,000 in gross receipts from the offense. Provides for restoration of forfeited property and for restitution to bank crime victims. Sets forth maximum criminal fines and minimum imprisonment terms for certain continuing financial crime enterprises (i.e., certain violations committed by at least four persons acting in concert). Title II: Protecting Assets from Wrongful Disposition - Authorizes the Attorney General to obtain a court order enjoining or restraining the alienation of disposition of property obtained as a result of a banking law violation. Amends the Federal Deposit Insurance Act to set forth attachment procedures. Amends Federal bankruptcy law to provide that the trustee shall be deemed to have assumed a debtor's commitment to a Federal depository institution regulatory agency to maintain the capital of an insured depository institution (thus precluding the trustee from rejecting such commitment as an executory contract which can be avoided as a discharge in bankruptcy). Exempts a Federal depository institution regulatory agency acting as conservator for an insured depository institution from the requirement of proving reasonable reliance upon a false writing supplied by a debtor who is an institution-affiliated party. Prohibits a discharge in bankruptcy for debts resulting from the debtor's failure to fulfill a commitment to a Federal financial institution regulatory agency to maintain the capital of an insured depository institution. Exempts a Federal depository institution regulatory agency acting as conservator for an insured depository institution from the requirement of a timely nondischargeability request (including notice and hearing) when seeking to recover a debt relating to malfeasance. Declares that for specified cases of deceitful conduct, any institution-affiliated party of an insured depository institution (or credit union) shall be deemed to have been acting in a fiduciary capacity with respect to any debt owed to a Federal banking regulatory agency (thus making such debt nondischargeable in bankruptcy). Makes it a prerequisite of a bankruptcy reorganization plan that the debtor will: (1) maintain any commitment to a Federal banking regulatory agency to maintain the capital of an insured depository institution; and (2) continue to be obligated for any debt to such agency for failure to fulfill such commitment. Makes certain debts owed by an institution-affiliated party to an insured depository institution under Federal receivership nondischargeable under a consumer debt bankruptcy plan. Amends the Federal Deposit Insurance Act to empower the FDIC (acting as conservator) to avoid fraudulent conveyances by a debtor institution-affiliated party. Prohibits an insured depository institution which does not meet minimum Federal capitalization requirements from making golden parachute payments, covered benefit payments, or certain payments in anticipation of insolvency to an institution-affiliated party without prior written Federal agency approval. Cites conditions under which insured depository institutions may make golden parachute payments and covered benefits payments with FDIC approval. Amends the Federal criminal code to revise civil and criminal forfeiture guidelines for: (1) property affecting a financial institution; and (2) fraudulent offenses involving the sale of assets held by Federal banking regulatory agencies. Amends the Federal Deposit Insurance Act to prohibit certain convicted felony debtors whose default to an insured financial institution in receivership will cause substantial loss from acquiring any asset of the institution (except with respect to repayment). Title III: Improved Procedures for Handling Banking-Related Cases - Amends Federal criminal law to authorize wiretaps for bank fraud and related offenses. Amends the Federal Deposit Insurance Act to set forth reciprocal assistance guidelines for foreign investigations by Federal banking agencies and investigations on behalf of foreign banking authorities. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) to extend to ten years (currently, five years) the statute of limitations for commencing a civil action for Federal bank law violations. Amends the Federal Deposit Insurance Act and the National Credit Union Act to grant the FDIC, the RTC, and the NCUA subpoena authority. Title IV: Structural Reforms to Improve the Federal Response to Crimes Affecting Financial Institutions - Establishes within the Office of the Deputy Attorney General in the Department of Justice a Financial Institutions Fraud Unit, headed by a Special Counsel who shall report directly to the Deputy Attorney General. Terminates such Office five years after enactment of this Act. Empowers the Special Counsel to investigate and prosecute criminal activity involving the financial services industry. Directs the Attorney General to establish: (1) financial institutions fraud task forces; and (2) a senior interagency group to assist in identifying the most significant financial institution fraud cases, to allocate investigative and prosecutorial resources, and to expedite interagency coordination and prosecution of financial institutions fraud. Amends Federal criminal law to authorize the Secret Service (under the direction of the Secretary of the Treasury) to detect and arrest persons who violate banking laws with respect to financial institutions and the Resolution Trust Corporation (RTC). Title V: Reporting Requirements - Directs the Attorney General to report quarterly to the Congress regarding financial institution crimes. Requires the Director of the Administrative Office of the United States Courts to present annual statistical tables to the Congress on the business imposed on the Federal courts by the savings and loan crisis. Title VI: National Commission on Financial Institution Reform, Recovery, and Enforcement - Establishes the National Commission on Financial Institution Reform, Recovery, and Enforcement to make investigations and recommendations regarding specified aspects of the savings and loan crisis. Requires the Commission to submit a final report to the President and the Congress within one year after enactment of this Act. Terminates the Commission 30 days after the submission of such final report. Authorizes appropriations. Title VII: Authorizations - Amends the FIRREA to authorize appropriations to the Attorney General and the Federal Court System for bank crime cases.
Bill· HRH.R. 5352 (101st)referred
United States · United States Congress · 24 July 1990
Employee Investment Opportunity Act - Amends the Internal Revenue Code to establish opportunity stock options which are granted to an individual for any reason connected with employment by a corporation. Provides for the deferral of income for an individual who exercises an opportunity stock option if: (1) no disposition of shares is made within two years of stock transfer to the individual; and (2) the individual is employed by such corporation at all times during the period beginning on the date of the granting of the option and ending on the day three months before the date of such exercise. Requires, upon disposition of the stock, the inclusion as ordinary income of the excess ("spread") of the fair market value of such stock on the date of option exercise over the amount paid for such stock. Allows a business expense deduction to the employer equal to the "spread" at the time the individual disposes of such stock. Declares that a grant option shall be deemed to be an opportunity stock option if not more than 60 percent of the value of the grant is received by employees who were senior management employees during the three-year period immediately preceding the date of the grant. Imposes an interest charge on the premature disposition of opportunity stock options.
Bill· HRH.R. 5330 (101st)referred
United States · United States Congress · 20 July 1990
Equity for Victims Act of 1990 - Amends the Federal criminal code to authorize courts to: (1) order restitution in any criminal case, to the extent agreed to by the parties in a plea agreement under the Federal Rules of Criminal Procedure; and (2) refer any issue arising in connection with a proposed order of restitution to a magistrate or special master for proposed findings of fact and recommendations as to disposition, subject to a de novo determination of the issue by the court. Specifies that the victim of a criminal offense, for purposes of restitution, includes any person harmed by the defendant's criminal conduct.
Bill· HRH.R. 5323 (101st)referred
United States · United States Congress · 19 July 1990
State Thrift Deposit Insurance Premium Act of 1990 - Amends the Federal Deposit Insurance Act to direct the Federal Deposit Insurance Corporation to determine and apportion among the States the cumulative cost of Federal assistance provided to State-chartered savings associations for case resolutions. Declares as "high risk" any State whose share of State resolution costs exceeds twice its share of 1980 State deposits. Mandates that each high risk State pay to the Savings Association Insurance Fund prescribed premiums reflecting such risk. Sets forth insurance termination procedures if a State fails to pay the required premium. Requires depositor notification of such insurance termination.
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