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![Official portrait of Rep. Treen, David C. [R-LA-3]](https://www.congress.gov/img/member/t000362_200.jpg)
United States · Official source
710 records where Rep. Treen, David C. [R-LA-3] is listed as a sponsor, author, or other actor. Search with topics and years
United States · United States Congress · 26 April 1976
Amends Rule X of the House of Representatives to transfer jurisdiction over Federal impact aid programs from the Committee on Education and Labor to the Committee on Ways and Means.
United States · United States Congress · 13 April 1976
Provides, under the Internal Revenue Code, that unemployment insurance funds may be used for payments to employers of otherwise unemployed individuals. Requires that each State establish a plan for such payments, which includes specific requirements that the employer will pay the unemployed individual wages comparable to the amount paid to other individuals doing the same work, and that no payment will be made for any position for a period of longer than one year. Stipulates that the State law establishing an approved plan shall require from prospective employers information for qualification purposes. Defines "otherwise unemployed individual" as meaning an individual who, but for his employment, would be eligible to receive compensation under State law.
United States · United States Congress · 1 April 1976
Increases the salaries of Federal justices, judges, bankruptcy referees, and other judicial officers subject to certain adjustments under the Federal Salary Act of 1967. (Amends 28 U.S.C. 5,44, 135, 173, 213, 252, 603, and 792)
United States · United States Congress · 1 April 1976
Designates April 13, 1976 as "Thomas Jefferson Day."
United States · United States Congress · 25 March 1976
Consumer Cost Evaluation Act - Provides for a determination of costs to consumers of any proposed Federal legislation or regulation that may have a significant impact on costs to consumers. Requires that any proposed Federal legislation or regulation must be found to provide benefits to consumers or the public that bear a reasonable relationship to such costs. Requires that every agency of the Federal Government shall prepare, in conjunction with every applicable proposal it makes for legislation or a regulation, a draft consumer cost assessment and upon consultation with other Federal agencies, a final consumer cost assessment. Provides that the cost assessment must allow for public comment. Limits the requirements with respect to the preparation of draft and final consumer cost assessments to proposals for legislation or regulation other than those involving a military or foreign affairs function of the United States or relating to agency management or personnel or public property. Provides that under specified emergency situations the proposed regulation may be published and final action taken on the regulation without compliance with the cost assessment requirements of this Act. Requires that under such circumstances, the agency involved must meet specified alternative requirements. Directs the President to establish guidelines for the preparation of draft and final consumer cost assessments within 90 days after enactment of this Act. Provides for the review of existing regulations. Directs that if a substantial disparity is found between the consumer costs and benefits of such regulations, the agency shall propose amendments to the regulation to eliminate the disparity. Applies the requirement of cost assessment to committees of Congress dealing with proposed legislation that may have a significant impact on costs to consumers. States that guidelines for the preparation of cost assessments by committees of Congress shall be established by the Congressional Office of the Budget.
United States · United States Congress · 9 March 1976
Includes independent owner-operator truckers as an exempted class to the motor carriers provision under the Interstate Commerce Act. Provides that no such driver shall charge or collect a rate, fare, or charge lower than the lowest rate, fare, or charge specified in tariffs or schedules filed and in effect pursuant to such Act for the same commodities between identical points served. Provides that if no such tariff or schedule is on file, the lowest rate for like commodities between identical or similar points shall determine the lowest rate, fare, or charge.
United States · United States Congress · 4 March 1976
Amends the National Sea Grant College and Program Act of 1966 to authorize appropriations for such Act through September 30, 1979. Authorizes the expenditure of $40,000,000 for fiscal year 1977, $45,000,000 for fiscal year 1978, and $50,000,000 for fiscal year 1979. Provides that provisions of the Act prohibiting the use of funds for the purchase or rental of any land or the rental, purchase, construction, or repair of buildings, docks, or vessels shall not apply to the payment for the services of research vessels and other ocean facilities directly supporting specific sea grant sponsored activities. Redefines "marine environment" to include the seabed and subsoil of submarine areas beyond the Continental Shelf and the natural resources thereof. Authorizes the Secretary of Commerce to encourage the advancement of other nations relating to the exploration, conservation, and management of marine resources. Gives the Secretary authority to support the funding of education and training of foreign nationals through sea-grant institutions. Authorizes the appropriation of $3,000,000 for each of the fiscal years 1977 through 1979 to carry out such functions. Authorizes the Secretary to enter into contracts with, or grants to, eligible institutions to assist the Secretary in carrying out programs relating to the development, management, and protection of the marine environment.
United States · United States Congress · 4 March 1976
Provides, under the Labor- Management Reporting and Disclosure Act of 1959, that national and international labor organizations, and intermediate labor organization bodies, shall elect their officers by secret ballot.
United States · United States Congress · 2 March 1976
Government Economy and Spending Reform Act - Title I: Authorizations of New Budget Authority - Terminates on specified dates budget authority for all Government programs except health care services, general retirement and disability insurance, and Federal employee retirement and disability programs which are funded by trust funds. Declares out of order in either the Senate or the House of Representatives any legislation which authorizes new budget authority not in compliance with this Act. Requires the Committees on Appropriations and the Committees on the Budget of both Houses of Congress to identify each program's functional and subfunctional category (as so characterized in the Budget of the United States, Fiscal Year 1977, transmitted to Congress by the President on January 21, 1976), the committees having legislative jurisdiction over such program, and whether such program operates under permanent authorizations and budget authority. Makes the budget termination provisions of this Act effective on the first day of the Ninety-fifth Congress. Title II: Early Elimination of Inactive and Duplicate Programs - Requires the Comptroller General of the United States to identify for Congress any programs which have duplicate objectives or for which no outlays have been made for the last two fiscal years. Directs the standing committees of both Houses to consider such programs and report recommendations on such programs before March 15, 1978, if possible. Title III: Quadrennial Program Review and Evaluation - Sets forth a timetable for reviewing the budget of a Government program. Requires review by standing committees of the Congress every four years of each program's cost, effectiveness, and the extent to which such program duplicates or is similar to any other program. States that such review shall include a comprehensive evaluation of the merits of such program to determine if it warrants continuation. Requires justification of any recommendation to fund any program which has objectives similar to or the same as another program's objectives. Directs the Comptroller General and the Congressional Budget Office to provide Congress with information and analysis of programs being reviewed under this Act. Requires the President to similarly review the merits of continuing programs contained in the annual Budget and to report the finding of such review prior to transmitting the Budget to Congress. Title IV: Continuing Review and Evaluation - Directs the Comptroller General to report to Congress the result of any audit which shows a substantial deficiency in achievement of the objectives of any Government program. Requires subsequent audits, a report of which must be submitted to Congress, to determine if such deficiency has been eliminated. Title V: Miscellaneous - States that those provisions of this Act which direct the operation of either House are enacted as an exercise of the rulemaking power of such House and recognizes the right of either House to change such rules.
United States · United States Congress · 2 March 1976
Authorizes the President to designate the second full calendar week in March of 1976 as "National Employ the Older Worker Week."
United States · United States Congress · 25 February 1976
Provides, under the Legislative Reorganization Act, that pay adjustments for Members of Congress may take effect no earlier than the beginning of the Congress next following the Congress in which they are approved.
United States · United States Congress · 24 February 1976
Designates February 22, May 30, and October 12 as Washington's Birthday, Memorial Day, and Columbus Day, respectively. Makes such days legal public holidays.
United States · United States Congress · 23 February 1976
Requires, where a defendent is found guilty of or pleads guilty to an explosive related offense for which one of the possible sentences is death, that the judge who presided at the trial or before whom the guilty plea was entered conduct a separate hearing to determine the existence of mitigating and aggravating factors. Dismisses such requirement where the Government stipulates that none of the aggravating factors exists or that one or more of the mitigating factors exists. Requires that the hearing be conducted before a jury or, if the defendent so moves, before the court alone, if the court and the Government approve. Requires the court to disclose to the defendant or his counsel all material contained in any presentence report, if one has been prepared, except such material as the court determines is required to be withheld for the protection of human life or for the protection of national security. Removes from consideration any such presentence information withheld from the defendant. Sets forth trial procedures and directs the jury, or the court to return a special verdict setting forth its findings as to the existence or nonexistence of each aggravating and mitigating factor. Permits the imposition of the death penalty only where the jury or, where there is no jury, the court finds by a preponderance of the information that one or more of the aggravating factors exists and that none of the mitigating factors exists. Enumerates the mitigating and aggravating factors. (Amends 18 U.S.C. 844)
United States · United States Congress · 19 February 1976
Repeals the Presidential Primary Matching Payment Account Act. Prohibits the Secretary of the Treasury from transferring any amounts of money to any candidate seeking nomination for election to the office of President after the enactment of this Act.
United States · United States Congress · 19 February 1976
Grants the consent of Congress for the construction of causeways and similar structures across navigable waters of the United States for the construction of specified highways in Louisiana.
United States · United States Congress · 19 February 1976
Amends the National Security Act of 1947 to make the Director of the Central Intelligence Agency responsible for protecting intelligence sources and methods from unauthorized disclosure. Imposes penalties for such disclosure. Bars prosecution for such offense where the information disclosed was not lawfully classified and where there was no process by which the defendant could obtain review of the continuing necessity for the classification. Permits the Attorney General to apply to the appropriate court for an order enjoining commission of an offense under this Act whenever the Director judges that such an offense is about to be committed.
United States · United States Congress · 9 February 1976
Prohibits collective bargining agreements between the United States Postal Service and labor organizations recognized as exclusive bargaining representatives for their respective postal employee units from containing procedures which would preclude employees from being represented in grievance and adverse actions arising under such agreements by representatives of their own choosing.
United States · United States Congress · 4 February 1976
Extends from February 1, 1976, to October 1, 1976, the period during which payment may be made for child day care services under titles IV, (Aid to Families with Dependent Children) and XX (Grants to States for Services) of the Social Security Act without regard to new staffing standards imposed by or under title XX.
United States · United States Congress · 3 February 1976
Authorizes the President to issue annually a proclamation designating the seven-day period commencing on April 30 of each year as "National Beta Sigma Phi Week," to recognize the National Beta Sigma Phi Sorority and its social, cultural, and service programs.
United States · United States Congress · 2 February 1976
Extends from February 1, 1976, to October 1, 1977, the period during which payment may be made for child day care services under titles IV (Aid to Families With Dependent Children) and XX (Grants to States for Services) of the Social Security Act without regard to new staffing standards imposed by or under title XX.
United States · United States Congress · 29 January 1976
Authorizes the President to issue a proclamation designating the week beginning April 4, 1976, as "National Rural Health Week." Urges improved health services and intensified dissemination of health information for rural America.
United States · United States Congress · 27 January 1976
Imposes a fine of not more than $10,000 and/or imprisonment of not more than ten years for disclosure of (1) the association of any individual or entity with the foreign intelligence operation of the United States, or (2) the identity of such individual where such disclosure may prejudice the safety of such individual.
United States · United States Congress · 18 December 1975
Extends from February 1, 1976, to October 1, 1977, the period during which payment may be made for child day care services under titles IV (Aid to Dependent Children) and XX (Grants to States for Social Services) of the Social Security Act without regard to new staffing standards imposed by or under title XX.
United States · United States Congress · 18 December 1975
Employment Statistics Commission Act - Establishes the Employment Statistics Commission composed of seven members appointed by the President. Requires the Commission to review the present method of collecting and analyzing employment and unemployment information and statistics, to identify weaknesses in such method, and to formulate any necessary or appropriate new methods of collecting and analyzing such information and statistics. Requires the Commission to transmit a report to the President, with copies to the Speaker of the House of Representatives, the President pro tempore of the Senate, the Committee on Education and Labor of the House of Representatives, and the Committee on Labor and Public Welfare of the Senate, within one year after the final appointment is made by the President. Terminates the Commission three months after the transmission of such report. Authorizes to be appropriated such sums as may be necessary to carry out the provisions of this Act.
United States · United States Congress · 18 December 1975
States that it is the policy of the United States to rely upon private commercial sources for goods and services required to meet Government needs, unless: (1) such reliance would demonstrably disrupt or significantly delay an urgent agency program; or (2) in-house performance is mandatory for national security; or (3) the product or service is not and cannot be made available from the private sector and is available from a Federal source.
United States · United States Congress · 12 December 1975
Extends from February 1, 1976, to October 1, 1977, the period during which payment may be made for child day care services under titles IV (Aid to Dependent Children) and XX (Grants to States for Social Services) of the Social Security Act without regard to new staffing standards imposed by or under title XX.
United States · United States Congress · 10 December 1975
Occupational Safety and Health Reform Act - Makes it the purpose of this Act to improve the administration of the Occupational Safety and Health Act and to provide for regulatory procedures related to such administration. States that the Secretary of Health, Education, and Welfare shall not propose any rule promulgating a new occupational health or safety standard before he: (1) has, as part of each such proposal, reviewed and published in the Federal Register the financial impact of such proposed standard; and (2) has determined with due regard for that impact that the benefit to be derived from such standard justifies such proposal. Provides that no standard adopted or promulgated shall require any employer to phase out, change, or replace existing equipment or facilities before the normal useful life of that equipment or facility has expired unless failure to so phase out, change, or replace that equipment or facility prematurely would result in a serious violation. Directs the Secretary to prescribe, as soon as practicable after the date of enactment of this Act, as part of each existing standard adopted under the Occupational Safety and Health Act: (1) the estimated average and maximum cost per unit to the average employer who is subject to that standard for compliance with the conditions, practices, means, methods, operation, or process used or proposed to be used by that employer under that standard; and (2) the period within which it is, in fact, possible for such employers to meet such standard including, but not limited to, availability of required devices, and possibility of performance of required procedures. Sets forth requirements with respect to notifying an employer of violations of the requirements prescribed pursuant to this Act. States that any employer who has been found to be not in compliance with any rule or standard adopted or promulgated under this Act shall not receive a notice for such violation if he is able to show: (1) that implementing such rule or standard would not materially affect the safety or health of his employees in the facility inspected; (2) that he has employed alternative procedures to protect his employees from the hazards contemplated by the rule or standard which are as effective in protecting the safety and health of his employees; or (3) that he has furnished adequate notice and exerted all reasonable efforts, pursuant to such regulations as the Secretary may prescribe, to obtain the compliance of his employee, that such violation was attributable to such employees, and that he could not otherwise have reasonably prevented such violation. Sets forth procedures for enforcement of these regulations. Authorizes the Secretary to enter into compliance agreements with an employer believed to be in violation of an occupational safety and health standard promulgated pursuant to such Act under which enforcement and penalty provisions are waived or deferred upon condition that the employer will voluntarily comply with the applicable standard upon such terms and conditions as the Secretary determines appropriate under the circumstances. States that failure of an employer to abide by such an agreement may be taken into account in resulting enforcement and penalty procedures. Directs the Secretary to provide technical advice, assistance, and consultation to employers with less than 100 employees whenever it is necessary to assist them in complying with applicable standards.
United States · United States Congress · 4 December 1975
Authorizes the United States District Court for the Eastern District of Louisiana to be held at Houma. (Amends 28 U.S.C. 98)
United States · United States Congress · 4 December 1975
Extends from February 1, 1976, to October 1, 1977, the period during which payment may be made for child day care services under titles IV (Aid to Dependent Children) and XX (Grants to States for Social Services) of the Social Security Act without regard to new staffing standards imposed by or under title XX.
United States · United States Congress · 1 December 1975
Provides that the total contribution of the United States to the United Nations for any calendar year after 1975 shall not exceed an amount which bears the same ratio to the United Nations budget as the total population of the United States bears to the total population of the United Nations member states.
United States · United States Congress · 1 December 1975
Authorizes a deduction, under the Internal Revenue Code, to individuals with permanently handicapped children for amounts contributed to a trust fund which is to be used for the care and support of such child. Limits such deduction to the lesser of 10 percent of the adjusted gross income of the taxpayer, or $5000 in the case of a joint return. Specifies the type of trust which may meet the conditions of this Act. Defines terms used in this Act.
United States · United States Congress · 20 November 1975
Truth in Government Accounting Act - Requires that the United States Government prepare and make public annual consolidated financial statements utilizing the accrual method of accounting.
United States · United States Congress · 20 November 1975
Authorizes suits against the United States Government by private parties where the basis of such a suit is misrepresentation, deceit, or the exercise or performance of failure to exercise or perform a discretionary function or duty on the part of the Consumer Product Safety Commission or of any employee of such Commission, if such exercise, performance or failure is determined, as a matter of law, to be unreasonable with respect to the discretionary function or duty involved. (Amends 28 U.S.C. 2680 (a))
United States · United States Congress · 19 November 1975
Provides, under the Intercoastal Shipping Act, that commencing in 1976 a carrier may file a general increase in rates without suspension of that portion of such changed rates bringing about an increase of seven percent or less in its gross annual revenues. Requires the United States Maritime Commission to promulgate numerical guidelines as to common carrier rate of return on rate base and common equity which the Commission deems to be prima facie reasonable, as a means of assisting in insuring that the noncontiguous States, territories and possessions of the U.S. have efficient ocean transportation to and from the mainland.
United States · United States Congress · 13 November 1975
Drug Pushers Elimination Act - Title I : Increased Penalties - Increases, under the Comprehensive Drug Abuse Prevention and Control Act, the penalties for the manufacture or distribution of a controlled narcotic drug to : (1) not less than 5 years, nor more than 25 years, imprisonment, and a fine of up to $50,000; (2) not less than 10 years and up to life imprisonment, and a fine of up to $100,000 if a person had a previous felony conviction relating to controlled substances; (3) not less than 10 years and up to life imprisonment and a fine of up to $100,000 if the crime was committed while such person was on release from a charge of violating this Act. Excepts addicted persons from the minimum term of imprisonment in all three categories of this Act. Provides that a conspiracy to commit any offense of this Act shall be punished as prescribed for the commission of the offense. Title II: Conditions of Release - Adds, for the judicial officer's consideration in setting conditions of release, the element of whether the person poses a danger to the safety of other persons, himself, the community, and the property of others. Sets forth procedures to govern the pretrial and posttrial release of persons charged with offenses involving specified narcotic drugs. Title III: Miscellaneous - Adds to the list of property which is subject to forfeiture all moneys used, or intended for use, in manufacturing, distributing, dispensing, or acquiring any controlled substances.
United States · United States Congress · 11 November 1975
Increases from $10,000 to $100,000 the maximum fine for conspiracy to commit any offense against the United States. Makes $1,000,000 the maximum fine for such offense by a corporation. (Amends 18 U.S.C. 371)
United States · United States Congress · 6 November 1975
Provides that mortgage assistance payments under the National Housing Act shall not be decreased if the Secretary of Housing and Urban Development finds that a decrease would produce undue hardship for the mortgagor, jeopardize the ability of the mortgagor to continue payments, and create a substantial danger of foreclosure.
United States · United States Congress · 6 November 1975
Expresses the sense of the House of Representatives that the President should, upon visiting the People's Republic of China, request that the Chinese officials use their good offices to obtain an accounting of members of the United States Armed Forces missing in action and confined as prisoners of war in Southeast Asia and of all American civilian personnel who are listed as missing in Southeast Asia. Requests that upon his return to the United States, the President should report back to the Congress on the results of his request.
United States · United States Congress · 5 November 1975
Real Estate Settlement Procedures Act Amendments. Repeals, under the Real Estate Settlement Procedures Act, the requirements for advance disclosure of specific settlement costs and the disclusure of the house's previous selling price. Alters, under such Act, the definition of "federally related mortgage loan" to exclude construction loans and second trusts. Excludes any agency or instrumentality of a State from the definition of "creditor. Provides the Secretary of the Department of Housing and Urban Development with authority to modify the uniform settlement statement required under the Real Estate Settlement Procedures Act to adopt such statment to area differences in local laws and customs. Modifies the information booklet designed by HUD to include general estimates of the settlement costs likely to be borne by the borrower. Requires lenders to give out the booklet and estimates only upon a written application for a mortgage loan.
United States · United States Congress · 4 November 1975
Increases the monetary penalties for persons convicted of conspiring to commit any offense against the United States or to defraud the United States. Establishes a monetary penalty of $1,000,000 in the case of a corporation, and $100,000 in the case of an individual. Eliminates the penalty of imprisonment for conspiracy to commit any offense or to defraud the United States.
United States · United States Congress · 31 October 1975
Removes the $100,000 annual limitation on the amount authorized to be appropriated under the Volunteers in the National Forests Act.
United States · United States Congress · 29 October 1975
Stipulates that provisions of the Education Amendments of 1972 relating to discrimination based on sex shall not apply with respect to any scholarship or other financial assistance awarded to an individual by an institution of higher education as a result of a pageant, program, contest, or competition in which participation is limited to individuals of one sex only and the award is based, in whole or in part, upon the personal achievement, poise, or talent of such individual.
United States · United States Congress · 29 October 1975
Expresses the gratitude of Congress to Bob Hope for distinguished and meritorious service to the Nation and to the cause of freedom.
United States · United States Congress · 28 October 1975
Maritime Education and Training Act - Provides, under the Merchant Marine Act, that the Secretary of Commerce shall meet prior to the beginning of each fiscal year with representatives of maritime training institutions for the purpose of estimating the projected enrollment at all such institutions during such fiscal year, and the next three fiscal years. Requires the submission of a report to the Congress on the estimation of such enrollments. Requires the apportionment of funds among colleges and academies training individuals for licensing in the maritime service. Directs the Secretary to submit to the Congress recommendations on the providing of the students of such institutions with access to the resources and programs of the National Maritime Research Center. Directs the compilation of a national roster of all individuals who have not yet reached the age of sixty-five years and who are or were licensed as officers in the United States Merchant Marine.
United States · United States Congress · 23 October 1975
Condemns the resolution adopted by the Third Committee of the United Nations General Assembly which equates Zionism with racism, and urges the U.N. General Assembly to disapprove such resolution.
United States · United States Congress · 20 October 1975
Requires, under the Ports and Waterways Safety Act, that the Secretary of Transportation apply different vessel design and construction standards to vessels operating exclusively on rivers, lakes, and harbors than those established by international convention.
United States · United States Congress · 20 October 1975
National Food Stamp Reform Act - Defines "household" under the Food Stamp Act as meaning a group of individuals who are sharing common living quarters, but who are not residents of an institution or boarding house, and who have access to cooking facilities and for whom food is customarily purchased in common. Provides that the Secretary of Agriculture may not approve any plan which permits any household to simultaneously participate in both the food stamp program and the distribution of federally donated foods. Requires the Secretary to establish uniform national standards of eligibility for participation by households in the food stamp program. States that the income standards of eligibility shall be the income poverty guidelines prescribed by the Office of Management and Budget adjusted pursuant to the Economic Opportunity Act. Directs the Secretary to prescribe additional standards of eligibility which shall include, but not be limited to, the amounts of liquid and nonliquid assets. Provides that household income for purposes of the food stamp program shall be the gross income of the household less: (1) a standard deduction of $100 a month applicable to all households; (2) an additional deduction of $25 a month for any household in which there at least one member who is age sixty-five or older. Limits eligibility to participate in the food stamp program to citizens and aliens lawfully admitted for permanent residency. States that no individual shall be considered eligible for the food stamp program as a member of a household if he is: (1) over 18; (2) is enrolled at an institution of higher education; and (3) is a dependent child for income tax purposes of a taxpayer who is not a member of an eligible household. Prohibits households which transfer liquid or nonliquid assets for the purpose of qualifying for the food stamp program from becoming eligible for at least a ninety-day period. Requires the Secretary to issue photo identification cards to households certified eligible to participate in the program. States that households shall be charged thirty percent of their income for the coupon allotment issued to them. Provides that if a State agency does not comply with the provisions of the Food Stamp Act, the Secretary may refer the matter to the Attorney General with a request for an injunction, or he may direct that there be no further inssuance of coupons in the political subdivisions where such failure has occurred until such time as satisfactory corrective action has been taken. Directs the Secretary to pay to each State agency out of funds appropriated by Congress an amount equal to 75 percent of all direct costs of State food stamp program investigations, prosecutions, and State activities related to recovering losses sustained in the food stamp program. Provides for a civil money penalty of up to $10,000 for each violation of the Food Stamp Act.
United States · United States Congress · 20 October 1975
Directs the Secretary of the Treasury to carry out a demonstration project in Metairie, Jefferson Parish, Louisiana, for the relocation of rail lines in order to eliminate specified ground level railroad highway crossings.
United States · United States Congress · 9 October 1975
Exempts, under the Internal Revenue Code, nonprofit volunteer firefighting or rescue organizations from the Federal excise taxes on gasoline, diesel fuel, and special fuels. Exempts such organization from the tax on communication services.
United States · United States Congress · 6 October 1975
Small Business Investment Company Tax Act - Exempts small business investment companies from the passive investment income test as a condition of eligibility to elect not to be taxed as a corporation under the Internal Revenue Code. Provides a tax deduction for investments made by small business investment companies in small business concerns. Allows small business investment companies to be shareholders in subchapter "S" corporations (corporations electing to be taxed as partnerships). Authorizes small business investment companies to add to their bad debt reserves at the close of a taxable year an amount sufficient to increase the reserve to 10 percent of the loans outstanding. Provides a deduction for dividends paid on preferred stock to small business investment companies.