United States · United States Congress · 15 July 1987
Title I: Temporary Extension of Public Debt Limit - Increases the public debt limit (until September 30, 1987) to $2,358,000,000,000. Title II: Budget Process Reform - Amends the Congressional Budget and Impoundment Control Act of 1974 to increase the permissible maximum deficit amounts for FY 1987 through 1990. Extends for one year the expiration date of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Title III: Economic Summit - Expresses the sense of the Congress that the President, together with the bipartisan leadership of the Senate and House of Representatives, should convene a domestic economic summit conference to address the dangerous economic situation which is created by large deficits and the ineffectual budget process. Directs the conference to report its recommendations for solutions to budgetary issues and budget process reforms to the Congress and the President.
United States · United States Congress · 15 July 1987
Declares that the Congress: (1) is concerned over the political and economic conditions of ethnic Albanians in Yugoslavia and over the failure of the Yugoslav Government to protect their political and economic rights; (2) urges such Government to act to ensure that human rights as contained in the Helsinki Accords and the Concluding Document of Madrid are respected; and (3) calls upon such Government to review the cases of ethnic Albanians imprisoned on political charges and to release all of those who have not used or advocated violence.
United States · United States Congress · 14 July 1987
Amends the Internal Revenue Code to state that charitable gift annuities (those owned by an individual who made a tax-deductible charitable contribution to the annuities' issuer) are not commercial-type insurance for purposes of determining the tax-exempt status of an organization.
United States · United States Congress · 8 July 1987
Federal Trade Commission Act Amendments of 1987 - Amends the Federal Trade Commission Act to deny authority to the Federal Trade Commission (FTC) to find a method of competition unfair (in any action under the Sherman Act) if such method of competition would be held to constitute State action. Prohibits the FTC from instituting a civil action, in cases involving consent orders, to obtain civil penalties for unfair or deceptive acts or practices. Permits a district court to review certain FTC determinations of law which found an act or practice unfair or deceptive. Revises the effective dates for cease and desist orders issued by the FTC. Applies FTC civil investigative demand procedures only to acts, practices, or methods of competition declared unlawful by a law. Denies the FTC authority to: (1) study, investigate, or prosecute agricultural cooperatives for any action not in violation of antitrust Acts; or (2) study or investigate agricultural marketing orders. Provides for congressional review and veto of final rules promulgated by the FTC. Makes any such rule effective unless a joint resolution of disapproval is enacted into law within 90 days of the rule's submission. Prohibits the FTC from intervening in the proceedings of any Federal or State agency: (1) unless required by Federal law; or (2) without first notifying specified congressional committees. Authorizes appropriations for FY 1988 through 1990. Directs the FTC to conduct a study of advertising which uses the offering of the opportunity to receive something of value as an inducement to purchase that which is being advertised. Requires the FTC to submit the results of such study to specified congressional committees within one year of the date of enactment of this Act. Directs the FTC to submit reports to specified congressional committees on instances in which: (1) resale price maintenance has been suspected or alleged; and (2) predatory pricing practices have been suspected or alleged. Directs the FTC to study: (1) the marketing, sale, cost, and coverage of health insurance for the elderly; and (2) the increase in property and casualty insurance rates to small business owners, local governments, physicians, dentists, and child care centers.
United States · United States Congress · 1 July 1987
Regulatory Fairness Act - Amends the Federal Power Act to direct the Federal Energy Regulatory Commission to order a public utility to refund (with interest) those amounts determined by the Commission to be in excess of just and reasonable rates or charges.
United States · United States Congress · 1 July 1987
National Commission on Acquired Immune Deficiency Syndrome Act - Establishes a National Commission on Acquired Immune Deficiency Syndrome to study and make recommendations regarding: (1) national policy and priorities with respect to acquired immune deficiency syndrome (AIDS) including research, testing for the AIDS virus, confidentiality of test results, treatment and care of AIDS sufferers, prevention of the transmission of AIDS, and education about AIDS; (2) the appropriate roles of Federal, State, and local governments, and of the private sector regarding such national policy and priorities; and (3) guidelines for the coordination of AIDS activities with international organizations. Directs the Commission to hold hearings and to submit interim and final reports to the President and to the Congress. Directs the Administrator of Veterans Affairs to assist the Commission by preparing: (1) a detailed compilation and synopsis of national and international medical research on AIDS; and (2) a detailed report on activities of the Veterans Administration relevant to the duties of the Commission. Authorizes appropriations for FY 1988. Terminates the Commission 30 days after submission of its final report. Authorizes the President to extend the life of the Commission for a period not to exceed two years.
United States · United States Congress · 30 June 1987
Satellite Home Viewer Copyright Act of 1987 - Amends the copyright law to require statutory licensing of secondary transmissions of a primary transmission made by a superstation if such secondary transmission is made by a satellite carrier to the public (or to a distributor to the public) for private viewing for a charge. Prohibits the carrier from altering such transmission or discriminating against a distributor. Requires the satellite carrier to deposit semiannually with the Register of Copyrights both royalty fees and a statement of account. Requires distribution of such fees to copyright owners according to the accounting and specified procedures. Requires the Copyright Royalty Tribunal to conduct a proceeding to determine distribution if a controversy exists. Requires voluntary negotiation of fees or fees set by compulsory arbitration if no voluntary agreement is filed with the Copyright Office. Authorizes judicial review of decisions of the Tribunal concerning the adoption or rejection of the arbitration. Terminates this Act on December 31, 1995.
United States · United States Congress · 30 June 1987
Expresses the sense of the Congress that: (1) the administration should oppose the implementation of the European Community directive which will limit U.S. access to such Community's agricultural markets; (2) if the European Community denies U.S. meat imports based on unsubstantiated standards or standards not applied to all Community members, the administration should adopt countermeasures; and (3) the administration should communicate to the Community that the United States views the directive as inconsistent with such Community's obligations under the General Agreement on Tariffs and Trade.
United States · United States Congress · 26 June 1987
Economic Challenges Act of 1987 - Establishes the National Commission on Economic Challenges (Commission). Specifies the duties of such Commission as: (1) studying and analyzing various global economic problems; (2) recommending policies and programs to reduce the Federal budget deficit, correct imbalances in foreign trade, and stimulate productivity growth rates; and (3) recommending policies and programs which will make American business and industries more efficient and productive in general and more competitive on the world market. Provides that the Commission shall be composed of 15 members appointed by the President, the majority leader of the Senate, and the Speaker of the House. Provides that each shall appoint five members not more than three of whom shall be members of the same political party. Sets forth administrative provisions concerning the organization and powers of such Commission. Sets forth provisions concerning the payment of travel expenses, the appointment of an executive director and staff, and the hiring of experts and consultants. Requires the Commission to submit a report to the President and the Congress concerning the findings and conclusions of the Commission and such recommendations as it considers appropriate.
United States · United States Congress · 25 June 1987
Expresses the sense of the House of Representatives that the President and the Secretary of State should express to the Soviets: (1) U.S. opposition to the Soviet Union's treatment of Leonid Brailovsky and all those who have applied to emigrate from the Soviet Union; (2) the U.S. desire that the Soviets allow Leonid Brailovsky and his family to emigrate to the United States; and (3) the U.S. desire that the Soviet Union cease the harassment of Soviet Jews and Christians seeking to emigrate.
United States · United States Congress · 24 June 1987
Amends rule XXI of Rules of the House of Representatives to prohibit any appropriation from being reported in any joint resolution continuing appropriations, or from being in order as an amendment thereto, for any expenditure not previously authorized by law, except to continue appropriations for public works and objects which are already in progress. Prohibits any provision which changes existing laws from being reported in any joint resolution continuing appropriations except germane provisions which retrench expenditures by the reduction of money covered by the bill, which may include those recommended to the Committee on Appropriations by direction of any legislative committee having jurisdiction over the subject matter. Prohibits an amendment to a joint resolution continuing appropriations from being in order if changing existing law. Declares that, except as provided by this Act, no amendment shall be in order during consideration of a joint resolution continuing appropriations proposing a limitation not specifically contained or authorized in existing law for the period of the limitation. Sets forth floor procedure for consideration of an acceptable joint resolution continuing appropriations. Prohibits the House from considering any joint resolution continuing appropriations, or amendments thereto, which covers a period of more than 90 calendar days. Prohibits any item of appropriation set forth in any joint resolution continuing appropriations from exceeding the lesser of the amount set forth for such item in the House-passed or Senate-passed general appropriation bill for the fiscal year. Declares that if there is no House-passed or Senate-passed bill containing such item, then such item shall be at the rate at which it would have been assuming the continuation of current law. Prohibits the waiver of any provision of this resolution except by two-thirds vote of the Members present and voting. Declares this resolution applicable with respect to joint resolutions continuing appropriations for FY 1989 or any subsequent fiscal year.
United States · United States Congress · 17 June 1987
Major Disaster Relief and Emergency Assistance Amendments of 1987 - Amends the Disaster Relief Act of 1974 to make eligible for assistance for the repair, restoration, reconstruction, and replacement of damaged facilities special purpose local governments such as levee districts, irrigation districts, and reclamation districts. Declares that the Federal share of such assistance shall not be less than 75 percent (currently, such assistance can not exceed 100 percent). Requires the President to issue rules which provide for the recognition of differences existing among urban, suburban, and rural lands to facilitate adequate removal of debris and wreckage from large lots. Declares the Federal share of assistance for debris removal to be 75 percent. Provides for temporary housing assistance for up to 18 months after the date of a major disaster. Authorizes the President to extend such period for an additional 18 months due to extraordinary circumstances. Declares the Federal share of such assistance to be 100 percent of eligible costs. Provides that temporary housing assistance may not be used for reconstruction or rehabilitation of damaged property when the cost of such assistance exceeds the cost of other applicable types of housing. Sets forth notification requirements for the President when persons apply for temporary housing assistance, including: (1) all forms of assistance available; (2) criteria that must be met to qualify for each type of assistance; (3) limitations which apply to each type of assistance; and (4) the address and telephone number of offices responsible for assisting applicants. Requires that housing assistance account for the applicant's location of and travel time to: (1) the applicant's place of business; (2) schools which family members may attend; (3) any home or place of business whose destruction or damage is the result of the major disaster which created the need for assistance; and (4) crops or livestock the applicant tends which provide 25 percent or more of the applicant's annual income. Includes in the individual and family grant program an authorization for the President to make grants to States for land use and construction projects designed to mitigate future major disaster-related loss. Authorizes a State to expend up to ten percent (currently, three percent) of any such grant for administrative expenses. Increases the limitation on such grants for families and individuals from $5,000 to $10,000. Repeals the restriction that crisis counseling be provided only through the National Institute of Mental Health. Removes the authority of the President to make grants to States for the removal of damaged timber from private lands. Provides that appeals arising from assistance decisions must be acted upon within 60 days of the receipt of such appeal. Declares that eligibility for Federal disaster assistance begins on the date: (1) of the occurrence of the disaster; or (2) on which eligible costs are incurred, whichever is earlier. Declares that disaster assistance shall not be restricted to limit assistance to a particular geographic area. Sets forth procedures for State governors to request declarations by the President that a major disaster exists. Requires such request to be based on a finding that effective response to such disaster is beyond the capabilities of the State and local governments and that Federal assistance is necessary. Describes general and essential assistance that the President may provide. Authorizes the President to contribute up to 50 percent of the cost of hazard mitigation measures. Establishes an emergency assistance program. Sets forth procedures for State governors to request the President to declare an emergency. Describes general Federal assistance under such an emergency. Limits the amount of emergency assistance to $5,000,000, which may be exceeded if the President finds it necessary. Requires the President to report to the Congress on the nature and extent of an emergency when such limitation is exceeded. Requires public and private nonprofit facilities in flood hazard areas to maintain flood insurance. Declares that major disaster and emergency assistance shall not be considered income or a resource when determining benefit levels for Federal programs. Requires the President to establish comprehensive standards to be used to assess the efficiency and effectiveness of Federal emergency and major disaster response programs administered by the Federal Emergency Management Agency. Authorizes the Federal Government to recover the cost of assistance from any person whose negligent act or omission, or whose act or omission while engaged in ultra-hazardous activity, resulted in an emergency or major disaster. Directs the President to conduct audits and investigations necessary to ensure compliance with this Act. Revises provisions relating to criminal and civil penalties. Increases from $25,000 to $50,000 the maximum amount of grants to States for improvement, maintenance, and updating of State plans. Renames the Disaster Relief Act of 1974 the Major Disaster Relief and Emergency Assistance Act.
United States · United States Congress · 17 June 1987
Amends title XVIII (Medicare) of the Social Security Act to ensure that rural hospitals which have no more than 50 beds and provide at least 70 percent of their inpatient hospital services to Medicare patients receive Medicare coverage of at least the reasonable costs of providing such services.
United States · United States Congress · 17 June 1987
Constitutional Amendment - Requires the Congress and the President, prior to each fiscal year, to agree, by enactment of a joint resolution, on an estimate of total receipts for that fiscal year. Prohibits outlays for that year from exceeding such estimated receipts unless the Congress, by a three-fifths rollcall vote of each House, provides for a specific excess of outlays over receipts. Requires the Congress, whenever actual outlays exceed actual receipts for any fiscal year, to provide by law for the repayment of such excess in the ensuing fiscal year. Requires a three-fifths rollcall vote of each House to increase the public debt. Directs the President to submit to the Congress a proposed budget for each fiscal year in which total outlays do not exceed total receipts. Requires the approval by a majority of the total membership of each House by rollcall vote before any bill to increase revenue may become law. Waives this article for any fiscal year in which a declaration of war is in effect. Declares that total receipts shall include all receipts of the United States, except those derived from borrowing, and total outlays shall include all outlays of the United States, except those for repayment of debt principal.
United States · United States Congress · 16 June 1987
Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to authorize the modification of an agreement between the Secretary of Health and Human Services and Iowa, providing OASDI coverage for certain State and local employees, to make police and fire fighters in Iowa eligible for OASDI coverage.
United States · United States Congress · 11 June 1987
Acid Deposition Control Act of 1987 - Title I: Stationary Sources - Amends the Clean Air Act to require each Governor to submit to the Administrator of the Environmental Protection Agency for approval a two-phased plan establishing emission limitations and compliance schedules for sulfur dioxide and oxides of nitrogen emissions from fossil fuel fired electric utility steam generating units in the State. Requires reductions in sulfur dioxide emissions by 1993 and reductions in oxides of nitrogen and further reductions in sulfur dioxide by 1997. Directs each Governor to submit to the Administrator for approval an emissions limitations plan for such units, other than electric utilities' units, requiring both sulfur dioxide and oxides of nitrogen emissions reductions by 1997. Requires the Administrator to conduct and update an inventory of such emissions from stationary sources, identifying the total statewide potential reductions in such emissions and transmitting such information to the State by the close of 1990. Requires each Governor to submit to the Administrator by June 1, 1994, a plan for establishing emission limitations from stationary sources of industrial process emissions to achieve such State's potential reductions by 1997. Directs the Administrator to promulgate guidelines for State plans which shall ensure that emissions reductions do not have an unnecessarily disproportionate effect on electric utility ratepayers. Requires the Administrator to study and report to the Congress by June 30, 1993, on the reductions achieved during phase I, granting the Congress an opportunity to legislate by the start of 1994 against the implementation of phase II. Grants States an opportunity to modify disapproved plans. Establishes emissions standards and Administrator-promulgated plans for States without an approved plan. Directs the Administrator to impose a fee on the generation and importation of electric energy if any electric utility is eligible for a sulfur dioxide emissions reduction subsidy. Sets fees in such a way as to raise sufficient subsidy revenue and protect low income residential electric consumers. Establishes civil penalties for violations of fee-related requirements. Establishes in the Treasury the Acid Deposition Control Fund to make subsidy payments to electric utilities to cover a portion of rate increases attributable to emission reduction compliance. Requires the Secretary of the Treasury to report annually to the Congress on such Fund. Requires a State to assure that rate increases so attributable are substantially equivalent for ratepayers throughout the State and substantially levelized over the period of their application in order to be eligible for the subsidy. Requires the Administrator to determine subsidy eligibility, based in part on the reasonableness of a utility's compliance costs. Authorizes the Administrator to provide financial assistance to owners and operators of stationary sources to promote innovative emissions technologies which are cost-effective. Requires State plans which include the use of such technologies to meet its emission limitation reductions to include contingent limitations and compliance schedules for stationary sources. Requires such contingent limitations to be at least equivalent to the reductions the innovative technology failed to achieve. Permits States to later modify their plans to include innovative technology. Authorizes the Administrator to impose fees on the generation of electricity in a State at its request to promote the use of innovative technologies. Requires the Administrator to report on the status of such technologies before 1994. Directs the Administrator to revise performance standards for emissions of nitrogen oxides from electric utility steam generating units which burn bituminous or subbituminous coal. Requires the Administrator to promulgate performance standards for oxides of nitrogen emissions from certain fossil-fuel-fired steam generating units. Requires all primary nonferrous smelters to be in compliance with the applicable emission limitation or standard for sulfur oxides by January 2, 1988. Title II: Control of Emissions From Mobile Sources - Amends the Clean Air Act to establish emissions standards for oxides of nitrogen for motor vehicles during and after model year 1989. Establishes hydrocarbon standards for trucks during and after model year 1990. Limits the sulfur content of motor vehicle diesel fuel after January 1, 1989. Requires the Administrator to require either onboard hydrocarbon control technology or the use of gasoline vapor recovery of hydrocarbon emissions emanating from the fueling of motor vehicles.
United States · United States Congress · 11 June 1987
Securities Trading Reform Act of 1987 - Title I: Contests for Corporate Control - Amends the Securities Exchange Act of 1934 to reduce from 10 days to noon the following business day the time period in which a public disclosure must be filed with the Securities and Exchange Commission (Commission), securities exchanges, and the issuer of the securities by anyone who purchases more than five percent of the securities of a corporation. Requires that such a disclosure must also be filed with each registered national securities association operating an interdealer quotation system on which the security is authorized for quotation. Revises disclosure requirements to include the requirement that if the purposes of such purchase is to acquire control of the corporation, such disclosure must include a description of any major changes affecting the communities in which the Corporation operates and charges affecting management, labor organizations, or employees. Requires anyone who files an amendment to a disclosure indicating a change in the purpose of the acquisition to include with such amendment evidence demonstrating that the certification was not, at the time it was made, false or misleading. Authorizes the Commission to bring an action in a U.S. District Court to impose a civil penalty on anyone found to have violated disclosure requirements. Revises the definition of "group" for purposes of disclosure to include two or more persons acting in a consciously parallel manner as determined by the Commission. Requires any person making a tender offer for shares of securities of a corporation to keep such offer open for a minimum of at least 30 business days. Prohibits any issuer of securities to establish or implement any defensive tactic in violation of rules and regulations which the Commission may prescribe in the public interest and for the protection of investors, unless such tactic has been approved by the shareholders of such issuer. Specifies that such regulations shall, at a minimum, treat as a defensive tactic requiring shareholder approval: (1) establishing the right to buy additional securities at prices below the average market price; (2) establishing the right to sell securities at a price in excess of the average market price (greenmail); (3) taking actions designed to increase the cost or to otherwise deter the carrying out of such a contest for corporate ownership, control, or management (poison pill defense); and (4) providing for severance pay or other lump sum payments to corporate officers or employees exceeding the annual pay of such an officer or employee (golden parachute payments) upon a takeover action. Allows an issuer to implement a change in the voting rights of shareholders contingent on the pendency of a tender offer, unless such change violates rules and regulations which the Commission may prescribe to maintain and ensure the balance and neutrality between the competing interests in tender offers and requests and invitations for tenders. Requires that any material soliciting or requesting tender offers must include a summary disclosure including a statement of: (1) the identity and background of the person and any affiliates or associates participating in the offer; (2) the value of the offer; (3) the amount of securities owned by those making the offer; (4) the source and amount of funds used for the proposed acquisition; (5) the purpose of the acquisition; (6) any plans or proposals the person has regarding the future operations or structure of the issuer; and (7) any additional information which the Commission may require. Prohibits any person who has commenced and then terminated a tender offer before its expiration to acquire any additional securities (except by tender offer) until the later of: (1) 30 calendar days after the date the offer is terminated; or (2) the original expiration date. Prohibits any issuer of securities from making any payment to any officer or director that is not deductible under specified provisions of the Internal Revenue Code relating to golden parachute payments, unless such payment has been expressly approved by the shareholders of the issuer. Prohibits the acquisition of more than 20 percent of the securities of a corporation except by tender offer, with specified exceptions. Prohibits an issuer from purchasing its securities at a price above the market value (greenmail) from any person who holds more than three percent of those securities and who has held such securities for less than one year. Provides that any profit realized by any person in any such transaction shall be recoverable by the issuer or by the owner of any security. Prohibits the issuance of any security registered on a national securities exchange or authorized on an interdealer quotation system if: (1) such security is a voting security that has fewer or greater than one vote per share on any issue to come before such issuer's shareholders; (2) such security is a common stock that is without voting rights. Prohibits the purchase or sale of any security during any period of time that the primary market for such security has suspended trading in such security for the purpose of: (1) facilitating the orderly dissemination of material information concerning the issuer, the security, or the market for the security; or (2) preventing excessive increases or decreases in the price of the security. Provides that any such suspension: (1) shall be effective for not more than one business day; (2) shall be subject to review by the Commission on its own motion or that of an adversely affected party; and (3) may be renewed or extended only with the approval of the Commission. Specifies that the rules and regulations of the Commission shall require confidentiality in the voting of proxies, consents, and authorizations, including receipt and tabulation by an independent third party certified in accordance with such rules and regulations. Provides that such rules and regulations shall permit beneficial owners to elect to assign their right to give a proxy, consent, or authorization to another person on a confidential basis. Requires the inclusion in any proxy statement with respect to an issue presented for decision by the shareholders of descriptions and other statements of or by any person or group which is the owner of: (1) five percent or more of voting shares; or (2) $5,000,000 or more of the shares in the corporation. Specifies the authority of the Commission to adopt rules, regulations, and orders concerning tender offers. Prohibits the issuer of any security from making any misleading statement concerning the pendency of a tender offer or other actions that may result in a charge in corporate ownership, control, or management. Authorizes the Commission to prescribe rules and regulations concerning such prohibition. Title II: Additional Insider Trading and other Enforcement Authorities - Authorizes increased appropriations for the Commission for FY 1988 through 1990. Amends the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Advisors Act of 1940 to allow the Commission to cooperate with foreign nations in the enforcement of the securities laws or regulations of that country. Requires every broker, dealer, and national securities exchange to establish and operate an internal surveillance and compliance system in accordance with rules and regulations which the Commission may prescribe. Authorizes the Commission to bring a civil action in U.S. District Court in order to assess civil penalties for violations of any rules or regulations prescribed by the Commission concerning such a self-regulatory system. Title III: Securities Laws Enforcement Study Commission - Requires the Commission to establish and appoint a panel of experts to make a study and investigation of the adequacy of the Federal securities laws and the rules and regulations established for the protection of the public interest and the interests of investors. Specifies particular subjects to be studied and investigated. Requires the Commission to report to the Congress on the results of such study and investigation. Authorizes appropriations to carry out such study and investigation.
United States · United States Congress · 11 June 1987
Amends the Internal Revenue Code to provide that the income tax exclusion from gross income for qualified scholarships shall include scholarships or fellowship grants received for travel, research, and living expenses.
United States · United States Congress · 11 June 1987
Designates the two week period of July 13 through July 26, 1987, as United States Olympic Festival-1987 Celebration. Designates July 17, 1987, as United States Olympic Festival-1987 Day.
United States · United States Congress · 11 June 1987
Declares that the United States should enter into negotiations with countries which participate in a common defense alliance with the United States, particularly members of the North Atlantic Treaty Organization (NATO) and Japan, for the purpose of a more equitable apportionment of the burden of financial support for the alliance.
United States · United States Congress · 10 June 1987
Amends the Internal Revenue Code to extend through 1992 the period during which qualified mortgage bonds may be issued. (Under current law, authority to issue these bonds expires as of 1989.)
United States · United States Congress · 4 June 1987
Amends the Federal criminal code to allow the National Association of State Racing Commissioners, State racing commissions, and authorities that regulate parimutuel wagering to: (1) use the facilities of the National Crime Information Center to receive, share, store, and disseminate criminal identification records; and (2) submit fingerprints to the Attorney General for identification and a criminal history records check.
United States · United States Congress · 4 June 1987
Residential Mortgage Credit Fairness Act of 1987 - Amends the Truth in Lending Act to prohibit a creditor from: (1) imposing terms and conditions for a residential mortgage transaction which are less favorable to the consumer than the terms and conditions which were originally disclosed to the consumer; or (2) limiting the availability or effectiveness of such terms and conditions to a specified period. Allows an exception to such requirements if: (1) the disclosure contains a clear and conspicuous statement that such terms and conditions are subject to charge; or (2) any delay in consummating the transaction is due to an unreasonable delay caused by the consumer. Requires that any disclosure made in connection with a residential mortgage shall: (1) be mailed or delivered before the earlier of the date on which the credit is extended or three days after the creditor receives the consumer's application; and (2) include a statement of the rights and duties of the creditor and the consumer and any form to be used by the consumer to exercise the right to withdraw the application. Allows a consumer to withdraw a mortgage application without incurring any obligation to the creditor (other than certain reasonable fees) if the consumer provides the creditor written notice within three days after receiving the required disclosure statement from the creditor. Specifies that for purposes of such required disclosure statements the term "finance charge" shall include any fee imposed by the creditor for any such extension of credit. Increases the civil penalty for failure to make a required disclosure for a residential mortgage from a minimum of $100 and a maximum of $1,000 to a minimum of $1,000 and a maximum of $10,000.
United States · United States Congress · 4 June 1987
Amends rule XIII of the Rules of the House of Representatives to require each House committee that reports legislation requiring employers to provide new employee benefits to include in such report an analysis of the impact of the legislation on employers (especially small businesses), the economy (in terms of international competitiveness), and employees (in terms of lost jobs).
United States · United States Congress · 3 June 1987
Designates the week beginning October 18, 1987, as Financial Independence Week. Urges all citizens to pursue financial independence through sound planning and management of their individual resources.
United States · United States Congress · 2 June 1987
Amends part A (General Provisions) of title XI of the Social Security Act to provide that information requested from the Secretary of Health and Human Services to assist a party in interest with respect to the administration of an employee benefit plan shall be provided at least once without charge.
United States · United States Congress · 19 May 1987
Amends title XVIII (Medicare) of the Social Security Act to provide coverage for services performed by a physician assistant outside institutional settings.
United States · United States Congress · 19 May 1987
Declares that the Congress recognizes and supports efforts to develop the National Purple Heart Museum in Enfield, Connecticut, and encourages the people of the United States to participate in the development of such museum.
United States · United States Congress · 18 May 1987
Designates August 1, 1987, as Helsinki Human Rights Day. Requests the President to: (1) reassert American commitment to the Helsinki Accords; (2) raise the issue of noncompliance with such Accords with the Soviet Union, Bulgaria, Czechoslovakia, the German Democratic Republic, Hungary, Poland, and Romania; (3) convey to all signatories of such Accords that respect for human rights and fundamental freedoms is vital to progress in the ongoing Helsinki process; (4) convey to U.S. allies the necessity of unity regarding such Accords; (5) continue his efforts to achieve the release of political prisoners of the Soviet Union, increase in Soviet emigration, resolution of family reunification cases, and cessation of radio transmission jamming; (6) seek the inclusion, in any concluding document agreed to in Vienna, of a mechanism to sustain human rights progress after the Vienna Conference on Security and Cooperation in Europe; and (7) convey to signatory states the desire of the United States for a result at Vienna that will not favor military security at the expense of human rights.
United States · United States Congress · 18 May 1987
Amends rule X of the Rules of the House of Representatives to prohibit select committees from being reestablished more than three times other than by a resolution adopting or amending the Rules of the House.
United States · United States Congress · 14 May 1987
Surrogacy Arrangements Act of 1987 - Amends the Federal criminal code to provide criminal penalties for anyone who, on a commercial basis, knowingly makes, engages in, or brokers a surrogacy arrangement. Amends the Federal Trade Commission Act to provide criminal penalties for anyone who advertises the availability of such an arrangement.
United States · United States Congress · 11 May 1987
Provides that each item of any joint resolution making continuing appropriations that is agreed to in the same form by both Houses of the Congress shall be enrolled as a separate bill or joint resolution for presentation to the President (line-item veto).
United States · United States Congress · 7 May 1987
Amends Federal veterans' benefits provisions to direct (current law authorizes) the Administrator of Veterans Affairs to pay travel expenses of certain veterans and their eligible dependents to or from a Veterans Administration facility or other authorized place in connection with rehabilitation, counseling, or medical treatment or care. Defines those veterans entitled to such payment, including: (1) those veterans financially unable to meet such travel costs; and (2) those veterans unable to bear the cost of special transportation necessitated due to a medical disability. Limits such payments in the case of travel by a privately-owned vehicle to the cost of similar public transportation for such travel. Limits such payment to the actual cost incurred for such travel.
United States · United States Congress · 7 May 1987
Davis-Bacon Reform Act of 1987 - Amends the Davis-Bacon Act to increase from $2,000 to $250,000 the threshold amount subjecting certain contracts to such Act and requiring them to specify the minimum wages to be paid to laborers and mechanics. Directs the Secretary of Labor to establish as the prevailing wage for a class of laborers or mechanics the entire range of wages being paid to a corresponding class of such workers in the particular urban or rural subdivision of the State in which the work is to be performed. Sets out the means for determining such prevailing wage in cases when more than a single wage is being paid to corresponding classes of workers. Excludes from the computation of wages the basic hourly rates of pay for workers on local Federal projects. Establishes a separate classification for helpers of laborers or mechanics, with their prevailing wages to be determined on the basis of the corresponding class of helpers. Prohibits the division of contracts into units of $250,000 or less for purposes of avoiding wage computation under such Act. Directs the Secretary of Labor and the U.S. Comptroller General to submit to the Congress annual reports describing the effects of the Davis-Bacon Act, the Copeland Act, and this Act on local wages and on local and national economies. Amends the Copeland Act to require certain contractors or subcontractors to furnish compliance statements concerning weekly wages at the beginning, midpoint, and conclusion of the period covered by the contract, instead of every week as the wages are paid.
United States · United States Congress · 7 May 1987
Amends the Internal Revenue Code to provide that certain short-term loans made in the ordinary course of business of a taxpayer bank or other financial institution that does not use an accrual method of accounting shall not be subject to requirements governing: (1) the current inclusion in gross income of the discount on such obligations; and (2) the deferral of the deduction for net direct interest expenses allocable to the accrued discount on such obligations. Applies these amendments to loans acquired after July 18, 1984. Amends the Tax Reform Act of 1986 to apply requirements relating to the accrual of interest payments on certain short-term obligations to obligations acquired after October 22, 1986 (thus removing the retroactivity of the Act, which made these requirements applicable to obligations acquired after September 27, 1985).
![Official portrait of Rep. Tauke, Thomas Joseph [R-IA-2]](https://www.congress.gov/img/member/t000053_200.jpg)