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United States · Official source
1,816 records where Rep. Watkins, Wes [R-OK-3] is listed as a sponsor, author, or other actor. Search with topics and years
United States · United States Congress · 4 June 1981
Requests the President to designate the week beginning June 14, 1981, as "National Softball Week."
United States · United States Congress · 2 June 1981
Indian Tribal Governmental Tax Status Act of 1981 - Amends the Internal Revenue Code to treat an Indian tribal government as a State for purposes of: (1) determining the deductibility of a charitable contribution made to such tribe; (2) certain excise taxes; (3) deductions for State and local taxes; (4) the unrelated business income tax applicable to colleges and universities; (5) the credits for public retirement system income and contributions to candidates for public office; (6) the exclusion from gross income of certain scholarships and fellowship grants and contributions of certain employers for employee annuities; (7) the tax on excess lobbying expenditures by public charities; and (8) the tax treatment of activities of private foundations. Excludes from gross income, under specified circumstances, interest on industrial development bonds issued by an Indian tribal government. Defines "Indian tribal government" for the purposes of this Act.
United States · United States Congress · 2 June 1981
National Technology Foundation Act of 1981 - Establishes the National Technology Foundation as an independent agency to: (1) foster communication between scientific and technological agencies of the Federal Government and the small business community; (2) collect, analyze and publish information concerning grants and contracts awarded to small business concerns by such agencies; (3) operate programs of grants and contracts for the development of high-technology small businesses; and (4) operate the programs transferred to it by this Act. Transfers to the Foundation; (1) the Patent and Trademark Office; (2) the National Bureau of Standards; (3) the National Technical Information Service; (4) the Office of Small Business Research and Development of the National Science Foundation; (5) the directorate for Engineering and Applied Science of the National Science Foundation; and (6) any authorities of the Secretary of Commerce and the National Science Foundation under the Stevenson-Wydler Technology Innovation Act of 1980. Establishes specified offices within the Foundation to perform the functions of such organizations and other functions of the Foundation. Requires the Foundation to: (1) collect and analyze information on the availability of, and the current and projected need for, engineering, technical, and technology managerial resources in the United States; (2) support engineering, technical, and technological managerial training through grants, loans, or other assistance; (3) assist the establishment of Centers form Industrial Technological Innovation through specified means; (4) conduct technology assessments; (5) determine the relationships of technological developments and international technology transfers to the productivity, employment, and world trade performance of the United States and foreign industrial sectors; (6) develop improved indicators of the state of technology; (7) determine the influence of economic conditions and government policies on industrial innovation and the development of technology; (8) promote technology transfer from the Federal Government and private enterprise to State and local governments; (9) support applied research in engineering and other disciplines as necessary in the national interest; (10) promote United States interests in international voluntary standardization activities; and (11) promote technology transfer from the Federal Government to private enterprise. Establishes within the Foundation a National Technology Board to supervise and control the policy of the Foundation. Requires the Director of the Foundation to coordinate the programs of the Foundation with other programs of the Federal, State, and local governments and the private sector. Sets forth the powers of the Director, including the exercise of authority over the transferred Federal divisions, the establishment and alteration of regional or field offices, and the transfer of funds within the Foundation. Authorizes appropriations for fiscal years 1982 and 1983.
United States · United States Congress · 2 June 1981
Requests the President to designate the third Sunday in September, 1981, as "National Ministers Day."
United States · United States Congress · 19 May 1981
Amends the Internal Revenue Code to revise requirements for the exclusion of interest on mortgage subsidy bonds. Repeals provisions which allow tax-exempt status for such bonds if 95 percent of the mortgages financed by such issues are in compliance with stated requirements. Provides that a showing that the issuing authority has tried in good faith to satisfy all requirements will cure a failure to meet any particular requirement if such failure is corrected within a reasonable time after its discovery. Allows bondholders to rely upon an issuer's good faith covenant as to a compliance. Revises the new homeowner requirements to allow eligibility for bond-financed mortgages for persons who are residing in substandard housing or who have lost their homes because of natural disasters or governmental action. Changes the method of determining the average area purchase price for purposes of the purchase price requirements for bond-financed mortgages. Specifies that the average area purchase price shall not include residences which are not typically financed through normal real estate mortgage loans and that such price may be determined separately for new and previously occupied homes. Revises the arbitrage requirements to increase the amount by which interest rates on tax-exempt mortgage subsidy bonds may exceed the interest rates on mortgages financed with such bonds. Changes the method of determining the yield on an issue. Specifies that issuers are not required to dispose of any investment and realize a loss in order to satisfy arbitrage restrictions. Allows two or more qualified mortgage bond issues of a single issuer to be combined for purposes of determining compliance with arbitrage requirements. Permits issuers to maintain a reasonable reserve against investment losses and to allocate credits or payments between eligible mortgagors. Exempts mortgages insured by the Federal Housing Administration or guaranteed by the Veterans Administration from certain mortgage assumption requirements. Includes energy impacted areas within the definition of targeted areas for purposes of the special treatment of targeted area residences. Repeals the requirement that the designation of areas of chronic economic distress be approved by the Secretary of Housing and Urban Development. Limits the designation of areas of chronic economic distress to 25 percent of the geographic area within a State. Redefines statistical areas to include two or more statistical areas combined. Repeals the registration requirements for bond issues.
United States · United States Congress · 14 May 1981
Carl Albert Congressional Research and Studies Center Endowment Act - Authorizes the Secretary of Education to make matching grants to assist in the development of the Carl Albert Congressional Research and Studies Center, located at the University of Oklahoma. Authorizes appropriations for fiscal years 1981 through 1987 to carry out this Act.
United States · United States Congress · 7 May 1981
Delinquent Payments Act of 1981 - Requires Federal agencies to pay interest on overdue payments to businesses for property or services. Specifies the procedure for computing such interest. Requires an agency to pay any such interest charges out of funds made available for administration of its programs. Allows an agency to take advantage of an early payment discount only if payment is made within the time specified by the business. Directs each agency to report to Congress annually on interest payments made during the fiscal year.
United States · United States Congress · 30 April 1981
Residential Housing Tax Incentives Act of 1981 - Amends the Internal Revenue Code to exclude from gross income, for income tax purposes, interest earned on qualified housing savings certificates. Limits such exclusion to interest earned on $100,000 certificates ($200,000 if joint return is filed). Defines "qualified housing savings certificates" as investment certificates issued by regulated depository financial institutions with three or five year maturities. Specifies that the proceeds of such certificates be applied to the financing of single-family, owner-occupied residences. Prescribes limitations on the interest rate chargeable for mortgages financed with proceeds from a qualified housing savings certificate. Disqualifies families which have income more than twice the median family income for their area from receiving a mortgage financed from proceeds from a qualified housing savings certificate. Prescribes penalties for the improper use of qualified housing savings certificates.
United States · United States Congress · 29 April 1981
Title I: Amendments to Title 18, United States Code (18 U.S.C. 921-928) - Amends the Gun Control Act of 1968 to redefine: (1) "manufacturer" to mean any person engaged in the "business of manufacturing" (instead of "manufacture" of) firearms or ammunition; and (2) "dealer" to exclude dealers in ammunition. Adds a new definition "engaged in the business" with respect to manufacturers, dealers, and importers. Defines as a manufacturer or dealer of firearms a person who manufactures or deals as a regular course of trade or business with the principal objective of livelihood and profit. Excludes as dealers persons making occasional sales or repairs of firearms. Eliminates certain activities involving ammunition from the coverage of the current prohibitions. Makes it unlawful for any person to transfer any firearm to a person who does not reside in the same State, if the transferor has reasonable cause to believe that acquisition of the firearm by such person would violate any State or local law or ordinance. Revises the current prohibition against certain classes of persons transporting a firearm or ammunition in interstate commerce to extend such prohibition to possession or receipt in commerce or affecting commerce of any firearm or ammunition. Includes as additional categories illegal aliens, dishonorably discharged members of the Armed Forces, and U.S. citizens who renounce their citizenship. Excludes ammunition dealers from the current licensing requirements. Stipulates that a licensed dealer's personal collection of firearms shall not be subject to recordkeeping requirements. Permits the Secretary of the Treasury to revoke a license only where the holder "willfully" violates a provision of the Act. Bars the Secretary from denying or revoking a license on the basis of violations which are alleged in criminal proceedings instituted against a licensee, where such individual is not convicted of such charges. Imposes as a condition for the inspection or examination of records, documents, firearms, or ammunition that the Secretary has probable cause to believe that a violation has occurred and that evidence may be found on the premises. Restricts the firearms information obtained from licensees which the Secretary may make available to State or local governments. Establishes a limited recordkeeping requirement for firearms collectors. Establishes a "willful" scienter (knowledge) requirement with respect to general violations of the Act. Revises the current offense of using or carrying a firearm during commission of a Federal felony to: (1) include use of a destructive device; (2) delete the act of "carrying" a firearm to commit a felony; and (3) limit such offense to felonies over which the Federal courts have exclusive jurisdiction. Retains the current penalty (one to ten years) for first offenses. Increases the penalty for second or subsequent offenses to five to 25 years' imprisonment (currently, two to 25 years). Extends to first offenders the stipulations, currently applicable only to second offenders, that the court not suspend any sentence or grant probation. Deletes the prohibition against concurrent sentences. Prohibits the granting of parole to first and subsequent offenders. Stipulates that no person shall be subject to the additional, mandatory penalties if use of the firearm or destructive device was to protect person or property. Amends the forfeiture provision to subject to seizure any firearm or ammunition "involved in or used" in any violation of the Act (instead of "involved in or used or intended to be used"). Directs the court to award attorney fees to the prevailing party (other than the United States) in a proceeding for the return of seized firearms or ammunition. Requires the court to award such fees in any other action upon a finding that the action was without foundation or was initiated in bad faith. Limits seizure to firearms individually identified as involved in the violation. Revises the current procedure allowing persons who have been convicted of a crime to apply to the Secretary for relief from the firearms prohibitions to make the following changes. Permits any person prohibited from possessing, shipping, transporting, or receiving firearms or ammunition to apply for relief. Requires, instead of permits, the Secretary to grant release, unless the applicant will be likely to act in a manner dangerous to public safety. Permits any person who is denied relief to seek de novo judicial review in Federal court. Makes the authority of the Secretary to permit importation of certain types of firearms and ammunition nondiscretionary. Extends the types of sporting firearms which may be imported. Amends the rulemaking authority of the Secretary to provide that no regulation may require the transfer of records required under this Act to a facility owned, managed, or controlled by the United States or any State or the establishment of any system of registration of firearms, firearms owners, or firearms transactions. Requires a 90-day public comment period for proposed regulations (no period is currently specified). Establishes a Congressional veto procedure with respect to firearms regulations. Authorizes either House of Congress to adopt a resolution of disapproval within 90 days of the rule's promulgation. Prohibits the Secretary from prescribing regulations which require purchasers of black powder to complete affidavits or forms attesting to their exemption from certain provisions of the Federal criminal code. Makes any law or regulation promulgated by any State prohibiting the transfer of an unloaded and not readily accessible firearm or ammunition null and void. Title II: Amendments to title VII of the Omnibus Crime Control and Safe Streets Act of 1968 - Repeals title VII of the Omnibus Crime Control and Safe Streets Act (relating to the receipt, possession, or transportation of firearms by felons, veterans dishonorably discharged, mental incompetents, illegal aliens, and persons renouncing their United States citizenship).
United States · United States Congress · 28 April 1981
Amends the Agricultural Adjustment Act of 1938 to assure adequate supplies of peanuts for 1982 through 1985. Eliminates the national quota proclamation by the Secretary of Agriculture and eliminates his ability to apportion among the counties of a state allotments for the harvesting of peanuts. Provides formulas to determine farm yield, farm base production poundage and farm poundage quotas. Allows the Commodity Credit Corporation to make peanuts, received under loan agreements, available for domestic edible use. Requires the price to cover all costs involved in the peanut production including 100 percent of the loan value or in certain circumstances over 105 per cent of the loan value. Provides further price supports for peanut crops from 1982 to 1985. Allows the Secretary of Agriculture to make loans, purchases or other operations on quota and additional peanuts for the 1982 through 1985 crops. Makes the quota support rate reflect the national average costs of production.
United States · United States Congress · 27 April 1981
Expresses the disapproval of Congress of the proposed sale to Saudi Arabia of five airborne warning and control aircraft (AWACS) and conformal fuel tanks and air-to-air missiles for F-15 aircraft.
United States · United States Congress · 2 April 1981
Amends the Mineral Leasing Act for Acquired Lands to require receipts received from leases on lands set aside for military or naval purposes, except the Naval Petroleum Reserves and National Oil Shale Reserves, to be paid into the Treasury and disposed of in the same manner as similar receipts under the Mineral Leasing Act of 1920.
United States · United States Congress · 1 April 1981
Directs the President to award a special gold medal to Fred Waring. Stipulates that funds may not be appropriated under this Act for any period before October 1, 1981.
United States · United States Congress · 31 March 1981
Motor Vehicle Tax Act of 1981 - Amends the Internal Revenue Code to eliminate the manufacturers excise tax on trucks, buses, and tractors and parts and accessories for such vehicles. Imposes upon the first retail sale of such articles a tax based on their wholesale price. Defines "wholesale price" as 90 percent of the actual retail selling price in the case of trucks, buses, and tractors and 75 percent of such price in the case of related parts or accessories. Exempts from the tax, articles on which the manufacturers excise tax was paid. Deems as sold, for purposes of the tax imposed by this Act, articles used by a manufacturer, producer, or importer other than in the production of articles otherwise taxable under this Act. Exempts from the tax, sales for export or to a State or local government or nonprofit educational organization if such uses are to occur before any other use. Relieves retailers from liability for the tax upon certification by the purchaser that the article will be used in accordance with applicable provisions of law. Imposes registration requirements upon the parties to tax-free sales. Exempts from the manufacturers excise tax on tires, tubes and tread rubber, articles sold for use on articles subject to the retailers excise tax imposed by this Act.
United States · United States Congress · 26 March 1981
Establishes a Special Joint Committee on the Centennial of the Birth of Franklin Delano Roosevelt. Directs that such committee shall be composed of sixteen Members of the Congress. Directs that such committee shall prepare an overall program for nationwide observances and make comprehensive plans for commemorating the one hundredth anniversary of the birth of Franklin Delano Roosevelt, including a joint session of Congress to be held on January 29, 1982. Provides that the expenses of such committee shall not exceed a specified amount to be paid from the contingent fund of the House of Representatives. Directs that upon termination of the committee one-half of its expenses shall be paid by transfer from the contingent fund of the Senate to the contingent fund of the House of Representatives. Provides that such committee shall terminate not later than April 30, 1982.
United States · United States Congress · 25 March 1981
State and Local Government Financing Reform Act of 1981 - Excludes from the Federal law limiting and restricting the corporate powers of national banking associations to deal in and underwrite investment securities, specified dealings in and underwriting of all other nongeneral obligations issued or guaranteed by or on behalf of a State or any political subdivision thereof (except special assessment obligations and industrial revenue bonds) which are at the time eligible for purchase by a national bank for its own account, subject to specified limitations. Requires the Secretary of the Treasury to submit an annual report to the Congress showing the extent to which the business of underwriting and dealing in State and local obligations is being carried on by commercial banks as compared with other banking institutions with a view to determining the effect of the provisions of this Act on the institutional distribution of such business.
United States · United States Congress · 23 March 1981
Amends Federal law to transfer certain fish research functions from the Department of the Interior to the Department of Agriculture.
United States · United States Congress · 19 March 1981
Industrial Energy Security Tax Incentives Act of 1981 - Amends the Internal Revenue Code to increase the energy percentage, for purposes of the investment tax credit, in the case of certain alternative energy property, specially defined energy property, recycling equipment, cogeneration equipment, and qualified industrial energy efficiency property. Defines "qualified industrial energy efficiency property" as property which is part of a modification to an industrial or commercial facility and which: (1) results in decreased energy use per unit of output; (2) results in an aggregate annual decrease in energy consumption by the facility; (3) does not increase the total consumption of oil and natural gas; (4) is constructed or acquired after January 1, 1981; and (5) is depreciable or amortizable property with a useful life of three years or more. Excludes from such definition property for which the energy percentage is otherwise claimed. Extends the period for which such percentage may be applied with respect to such property which is part of projects for which certain construction and financial commitments have been met. Sets forth a formula for determining reductions or increases in the credit based on a ratio between the energy percentage amount and Btu savings. Reduces the credit attributable to application of the energy percentage where the use of qualified industrial energy efficiency property results in an increase of more than ten percent in the capacity of the facility. Provides that the applicable percentage of such property, for purposes of determining qualified investment, shall be 100 percent, without regard to the useful life of the property. Revises the definition of "alternative energy property" to: (1) include equipment for converting an alternate substance into electricity, up to the electrical transmission state; (2) define "boiler"; and (3) include heat treating furnaces which use as the primary fuel an alternate substance, melt furnaces which use no fuel or use as the primary fuel an alternate substance, and modification equipment which is used in a facility which uses as the primary fuel an alternate substance and which reduces the use of fuels other than alternate substances. Expands the definition of "alternate substance" to include petroleum coke, petroleum pitch, synthetic fuels, and any product derived from an alternate substance. Excepts taxpayers from the primary fuel requirement in specified circumstances. Revises the definition of "specially defined energy property." Revises the definition of "recycling equipment" to: (1) include property used for the unloading, transfer, and storage of solid waste; and (2) include property used in the recovery of additional reusable resources and materials. Includes in the definition of "cogeneration equipment" property comprising a system for the generation of mechanical shaft power. Excludes as a fuel, for purposes of the definition of "biomass property", certain recyclable waste paper. Adds to the exclusion of public utility property from treatment as energy property specially defined energy property and qualified industrial energy efficiency property unless such property is installed in connection with specified types of generating facilities. Provides rules regarding: (1) the replacement of equipment or processes by energy property; and (2) energy property which increases the operating capacity of a process or facility. Treats as qualified industrial energy efficiency property reasonably necessary for the operation of alternative energy property, specially defined energy property, recycling equipment, cogeneration equipment, or qualified industrial energy efficiency property.
United States · United States Congress · 19 March 1981
Requests the President to designate July 17, 1981, as "National P.O.W.-M.I.A. Recognition Day."
United States · United States Congress · 19 March 1981
Requests the President to designate the week beginning November 22, 1981, as "National Family Week."
United States · United States Congress · 12 March 1981
Prohibits the Federal Trade Commission or any administrative law judge from issuing antitrust decisions, findings, or cease-and-desist orders in concentrated market structure or shared monopoly proceedings until Congress establishes and defines the elements of such a violation. Declares that this Act shall apply to any proceeding pending on March 10, 1981. Vacates any decision or order issued in such proceeding before the enactment of this Act.
United States · United States Congress · 11 March 1981
Amends the Internal Revenue Code to provide a limited exemption of independent producer oil from the windfall profit tax.
United States · United States Congress · 10 March 1981
Requests the President to designate April 9, 1981, as "African Refugee Relief Day."
United States · United States Congress · 4 March 1981
Federal Reserve Act Amendments of 1981 - Amends the Federal Reserve Act to require not less than three members of the Board of Governors of the Federal Reserve System to come from the agricultural sector, the industrial sector, the commercial sector, or financial institutions with assets of less than $150,000,000.
United States · United States Congress · 3 March 1981
Provides that interest on indebtedness incurred to purchase obligations the interest on which is tax-exempt shall be treated, for tax purposes, in accordance with rules in effect before the issuance of Revenue Procedure 80-55.
United States · United States Congress · 3 March 1981
Expresses the sense of Congress that Federal bank regulators should immediately begin to diminish the differences between the capital- to-assets ratios imposed on small- and medium-sized banks and those imposed on large regional or money center commercial banks or bank holding companies.
United States · United States Congress · 3 March 1981
Expresses the sense of Congress that Federal bank regulators should immediately begin to diminish the differences between the capital- to-assets ratios imposed on small- and medium-sized banks.
United States · United States Congress · 25 February 1981
Amends the Internal Revenue Code to exempt crude oil under a qualified royalty interest from the the windfall profit tax. Defines "qualified royalty interest" to mean an economic interest other attributable to ownership of the property from which the oil is produced.
United States · United States Congress · 25 February 1981
Amends the Internal Revenue Code to exempt stripper well oil from the windfall profit tax.
United States · United States Congress · 25 February 1981
Amends the Internal Revenue Code to exempt from the windfall profit tax crude oil from a qualified royalty interest. Defines "qualified royalty interest" to mean an economic interest other than an operating mineral interest.
United States · United States Congress · 25 February 1981
Amends the Internal Revenue Code to exempt newly discovered oil from the windfall profit tax.
United States · United States Congress · 25 February 1981
Amends the Internal Revenue Code to exempt incremental tertiary oil from the windfall profit tax.
United States · United States Congress · 25 February 1981
Repeals the windfall profit tax.
United States · United States Congress · 25 February 1981
Amends the Internal Revenue Code to reduce by one third the Federal estate and gift taxes in 1982 and in 1983 and repeal such taxes after 1983. Repeals the tax on generation-skipping transfers after 1983.
United States · United States Congress · 23 February 1981
Balanced Budget and Deficit Control Act of 1981 - Amends the Congressional Budget and Impoundment Control Act of 1974 to make a Congressional declaration that it is essential to provide for a balanced Federal budget. Amends the Congressional Budget Act of 1974 to require that the first concurrent resolution on the budget, on which Congress must complete action on or before May 15 of each year, provide a balanced budget for such year and for the succeeding fiscal year. Specifies that if changes in laws, bills, or resolutions are necessary in connection with any such concurrent resolution on the budget in order to assure that there is no deficit in the budget for either of the fiscal years to which such concurrent resolution relates, such concurrent resolution shall appropriately direct the legislative committees involved to determine and recommend such changes. Makes it out of order in either the House of Representatives or the Senate to consider or adopt any concurrent resolution on the budget, to consider or adopt any amendment to such a concurrent resolution, or to adopt a conference report on such concurrent resolution, if at the time of such consideration or adoption the level of total budget outlays which is set forth in such concurrent resolution for either of the two fiscal years to which it relates exceeds the recommended level of Federal revenues for that year. Permits the suspension of such provisions: (1) upon a Presidential request, approved by Congress; (2) upon a recommendation by the Budget Committee of either the House or the Senate and approval of the Congress; and (3) with respect to any fiscal year in which the United States is at war pursuant to a declaration of war by the Congress. Permits revisions of the first concurrent resolution on the budget at any time after it has been agreed to pursuant to such Act before the end of the first fiscal year to which such resolution relates. Requires such revision to meet the same balanced budget requirements as the original concurrent resolution and provide for the same suspension of such requirements. Requires the second concurrent resolution on the budget to be for the fiscal year beginning on October 1 of such year and the succeeding fiscal year. Makes it out of order in either the House or the Senate to receive or consider any amendment to a reconciliation bill or reconciliation resolution if such amendment would have the effect of increasing any specific budget outlays above the level of such outlays contained in the bill or resolution as reported, or would reduce any specific Federal revenues below the level of such revenues as reported, unless it includes or is accompanied by an amendment which assures that total budget outlays are not increased and that total Federal revenues are not reduced by making an equivalent reduction in other specific budget outlays or an equivalent increase in other specific Federal revenues. Makes it out of order in either the House or the Senate, at any time after the Congress has completed action on the first concurrent resolution on the budget, and if a reconciliation bill or resolution is required to be reported in connection with such resolution after that bill has been enacted into law or such resolution has been agreed to, to consider any bill or resolution or amendment which provides for budget outlays, new budget authority in excess of the appropriated allocation, or new spending authority. Amends the Congressional Budget and Impoundment Control Act of 1974 to state that any references to "a fiscal year" or "the fiscal year" with respect to a concurrent resolution on the budget shall be treated as references made separately to each of the two fiscal years to which such concurrent resolution relates. Amends the Congressional Budget Act of 1974 to require each committee required by such Act to report on a concurrent resolution on the budget to make such report within ten legislative days after the concurrent resolution is agreed to. Amends the Budget and Accounting Act, 1921, to require the President, from time to time during the fiscal year, to ensure that the budget complies with the requirements of the Congressional Budget and Impoundment Control Act of 1974. Requires such budget to be balanced, but permits the President to recommend alternative balanced budgets with outlays and revenues at higher or lower levels to take account of possible changes in economic conditions or other circumstances. Requires such budget transmitted by the President to be accompanied by a projected budget for the succeeding fiscal year. Permits a suspension of such requirements upon a Presidential request or if the United States is at war pursuant to a declaration of war by Congress. Requires the Director of the Office of Management and Budget, with respect to any fiscal year beginning on or after October 1, 1983, to analyze the level of Federal revenues and budget outlays during the fiscal quarter beginning October 1 and ending December 31 in that year for the purpose of determining the levels of total revenues and budget outlays which may be anticipated for such fiscal year and whether such revenues will be sufficient to equal or exceed such outlays. Requires the Director to report to the President and Congress not later than January 3 if he determines that such revenues will not be sufficient to equal or exceed such outlays and to identify the amount of any such insufficiency and the percentage of total controllable expenditures which such insufficiency represents. Requires the President, upon receipt of such a report, to issue an order sequestering such amounts of budget authority as are necessary to reduce each such controllable expenditure by that percentage and to transmit to Congress a message identifying: (1) the total amount of budget authority which is to be sequestered; (2) the annuity budget authority which is to be sequestered with respect to each such controllable expenditure in order to reduce it by the required percentage; and (3) the account, department, or establishment from which each amount of budget authority is available for obligation and the specific project or governmental functions involved. Makes such an order effective from and after the date of its issuance except to the extent revised or abrogated by the Congress pursuant to this Act. Sets forth the procedure to be followed by Congress in reviewing such an order. Permits the Budget Committee of the House or the Senate, at any time after the promulgation of such an order, to report a concurrent resolution suspending, in whole or in part, the operation of such order. Defines the term "controllable expenditures" as expenditures which may be reduced without breaching any obligation, contractual or otherwise, of the United States to make payments. Requires the Congressional Budget Office to submit to the House and Senate Budget Committee recommendations concerning further refinement in the definition and identification of controllable expenditures.
United States · United States Congress · 18 February 1981
World War I Veterans Service Pension Act of 1981 - Requires the Administrator of Veterans' Affairs to pay (in addition to any pension already paid) a monthly pension of $150: (1) to each veteran of World War I who meets specified service requirements; (2) to the surviving spouse of each such veteran; or (3) when there is no surviving spouse, to the child or children of each such veteran.
United States · United States Congress · 17 February 1981
Amends the Agricultural Adjustment Act to subject imported grapes to the same regulations as to grade, size, quality, or maturity as table grapes which are subject to a marketing order.
United States · United States Congress · 5 February 1981
Administrative Rulemaking Reform Act - Directs a Federal agency preparing to hold a rulemaking session to make a reasonable effort to inform those likely to be affected by the proposed rulemaking. Requires the notice of rulemaking to include: (1) the projected effective date of the rules; (2) the purpose of the rulemaking; (3) the text of the proposed rules; and (4) the studies on which the agency intends to rely in the rulemaking proceedings. Requires public notice and public opportunity for comment on all rulemaking proceedings unless the agency finds that proposed rules are emergency rules or are of routine or insignificant impact. Requires Federal agencies to give interested persons at least 45 days to participate in the rulemaking. Provides for agency hearings to receive oral comments, and procedures to resolve significant controversies over factual issues. Requires each agency to maintain a public file of all relevant material and required statements for each rulemaking. Prohibits adoption of a proposed rule that has been revised substantially unless interested persons are provided an opportunity to comment on such revisions. Sets forth an expedited rulemaking procedure for rules to replace emergency rules. Directs each agency to submit a copy of each promulgated rule to each House of Congress. Declares that no rule, excluding an emergency rule, shall become effective if: (1) both Houses of Congress adopt a concurrent resolution disapproving it within 90 days of continuous session of Congress; or (2) one House adopts such a resolution within 60 such days and the other House does not disapprove such resolution within 30 days thereafter. Authorizes either House to adopt a resolution directing an agency to reconsider and repromulgate a newly promulgated rule or an existing rule within a specified period. Provides that if such agency fails to act such rule shall lapse. Directs the Administrative Conference of the United States to study and report on the effects on rulemaking of the Congressional review provisions of this Act. Authorizes appropriations for such study. Directs a court reviewing an agency rule to set aside any rule found to be unwarranted by material in the rulemaking file.
United States · United States Congress · 4 February 1981
Title I: Export Trading Companies - Export Trading Company Act of 1981 - Directs the Secretary of Commerce to promote export trading companies by providing information and by facilitating contacts between producers of exportable goods and export trading companies. Authorizes any banking organization to invest up to specified amounts in export trading companies upon notifying, but without obtaining the prior approval of, the appropriate Federal banking agency, if such investment does not cause an export trading company to become a subsidiary of such organization. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations with prior approval of the appropriate Federal banking agency. Requires prior notification of such agencies in specified circumstances. Sets forth further limitations on export trading companies and investments by banking organizations. Specifies factors to be taken into consideration by the banking agencies. Permits such agencies to impose conditions in approving applications to invest in export trading companies. Requires such agencies to report to the appropriate Congressional committees with their recommendations concerning implementation of this Act, related changes in U.S. law, and effects of ownership of U.S. banks by foreign banking organizations. Provides for judicial review of denial orders in the appropriate U.S. Court of Appeals. Sets forth the grounds for disapproval. Provides for remand for further consideration by the banking agency. Directs the Economic Development Administration and the Small Business Administration to give special weight to export-related benefits when considering applications for loans and guarantees by export trading companies. Authorizes up to $20,000,000 to be appropriated for initial investments and operating expenses for each of the fiscal years 1981, 1982, 1983, 1984, and 1985. Directs the Export-Import Bank of the United States to provide loan guarantees to export trading companies or exporters, to be secured by accounts receivable or inventories, when adequate financing is not otherwise available and such guarantees will facilitate expansion of exports. Directs the Board of Directors to try to insure that a major share of such guarantees promotes exports from small, medium-size, and minority businesses or agricultural concerns. Title II: Export Trade Associations - Export Trade Association Act of 1981 - Amends the Webb-Pomerene Act to exempt the trade activities and methods of operation of certified export trade associations and export trading companies from the antitrust laws. Delays the effectiveness of any certificate upon the notification of the Secretary of Commerce by the Attorney General or the Federal Trade Commission (FTC) of disagreement with the decision to issue a certificate. Sets forth the procedure to be followed by any association or export trading company seeking certification under this Act and by the Secretary in issuing such certificates. Permits automatic certification for existing associations. Provides for appeal of the Secretary's denial of certification. Authorizes the Attorney General or the FTC to bring an action to invalidate a certification. Requires the Secretary, in consultation with the Attorney General and the FTC, to publish guidelines for determining whether an association or export trading company will meet the certification requirements. Requires certified associations and export trading companies to submit annual reports to the Secretary. Directs the Secretary to establish within the Department of Commerce an Office of Export Trade to promote export trade associations and trading companies. Requires such Office to report annually to the appropriate Congressional committees on all East-West trade transactions requiring validated licenses and on the role of U.S. export trading companies in East-West trade. Grants a temporary exemption from the Sherman Act antitrust provisions for existing associations. Requires that all applications for certification be kept confidential with specified exceptions. Authorizes the Secretary to require an association or trading company to modify its operation to be consistent with international obligations of the United States. Directs the President to appoint, with the Senate's advice and consent, a task force seven years after enactment to examine the effect of this Act and to make recommendations.
United States · United States Congress · 3 February 1981
Amends the Federal Mine Safety and Health Amendments Act of 1977 to provide that provisions of such Act shall not apply to: (1) any surface sand or gravel, stone, or clay mine; or (2) any surface structure or road, if constructed by employees not engaged in mining.
United States · United States Congress · 29 January 1981
Petroleum Displacement Act of 1981 - Amends the Powerplant and Industrial Fuel Use Act of 1978 to repeal certain prohibitions and limitations on the use of natural gas as a primary energy source in electric powerplants. Repeals the authority of the Secretary of Energy to prohibit the use of petroleum or natural gas or both: (1) as a primary energy source in electric powerplants where coal or alternate fuel capability exists; and (2) in excess of a minimal amount, in an electric powerplant in which it is feasible to use a mixture of petroleum or natural gas or an alternate fuel as a primary energy source.
United States · United States Congress · 28 January 1981
Terminates the export controls imposed by the President on agricultural commodities to the Soviet Union.
United States · United States Congress · 28 January 1981
Commends former President Jimmy Carter, former Secretary of State Edmund Muskie, and former Deputy Secretary of State Warren Christopher for their success in securing the release of the American hostages held in Iran. Conveys appreciation to the Algerian negotiators for the role they played in resolving the hostage crises. Pays tribute to the eight servicemen killed in the April 1980 effort to rescue the American hostages. Commends President Reagan for designating former President Carter to officially greet the freed hostages.
United States · United States Congress · 27 January 1981
Amends the Internal Revenue Code to eliminate the phased reduction of the rate of the percentage depletion allowance for independent oil and gas producers and royalty owners (reduced to 15 percent by 1984) and to retain the 22 percent rate for taxable years ending after 1980.
United States · United States Congress · 23 January 1981
Savings and Retirement Income Incentive Act of 1981 - Amends the Crude Oil Windfall Profit Tax Act of 1980 to make permanent the income tax exclusion for dividend and interest income. Increases such tax exclusion for persons over age 65 to $500 ($1,000 for joint returns). Amends the Internal Revenue Code to increase to $2,000 the amount of the income tax deduction for contributions to individual retirement accounts. Eliminates the prohibition against certain pension plan participants (e.g. government and military personnel) from making deductible contributions to individual retirement accounts. Increases the amount of nondeductible contributions which an individual may make to an individual retirement account in a taxable year and over such individual's lifetime. Permits contributors to an individual retirement account to withdraw from such an account up to $10,000, without tax penalty, in order to purchase a first home or finance the higher education of a dependent child. Allows an income tax deduction for voluntary employee contributions to tax-qualified employer pension and annuity plans.
United States · United States Congress · 23 January 1981
Requests the President to designate the seven calendar days commencing on April 30 of each year as "National Beta Sigma Phi Week."
United States · United States Congress · 22 January 1981
Capital Cost Recovery Act of 1981 - Amends the Internal Revenue Code to revise the method for determining useful lives of business assets for purposes of computing allowable depreciation deductions. Replaces the asset depreciation range (ADR) method with a schedule of capital cost recovery periods for three classes of business property. Establishes capital cost recovery periods for the following classes of business property: (1) buildings and their structural components, ten years; (2) tangible property, five years; and (3) automobiles, taxis, and light-duty trucks (up to $100,000), three years. Permits calculation of the investment tax credit for such property without regard to the useful life of the property. Requires the recapture of depreciation amounts and investment tax credit amounts applicable to assets which are sold or otherwise disposed of prior to the expiration of the capital cost recovery period. Permits a taxpayer to deduct less than the full allowance for capital cost recovery in any taxable year. Permits a carryover to succeeding taxable years of any unused depreciation amounts. Disqualifies capital cost recovery property from the allowance for first year depreciation. Treats amounts claimed as the capital cost recovery of noncorporate lessors as an item of tax preference for purposes of the minimum tax. Adopts as an accounting practice the "half year convention" under which investments eligible for capital cost recovery treatment or the investment tax credit which are made at any time during the taxable year are deemed to be made in the middle of such year.
United States · United States Congress · 22 January 1981
Resource Conservation and Development Act of 1981 - Directs the Secretary of Agriculture to establish a resource conservation and development program to assist States, local units of government, and local nonprofit organizations to operate and maintain a planning process for land conservation and utilization, natural resources development, and rural economic and environmental improvement. Authorizes the Secretary to: (1) provide technical assistance in developing area plans for designated rural areas; (2) cooperate in conducting surveys and inventories, disseminating information, and developing area plans; (3) assist in the carrying out of approved area plans by local public agencies and nonprofit organizations designated by States; and (4) enter into specified agreements with such State and local entities. Sets forth the terms and conditions of such agreements. Permits the identification of groups or problems for special consideration in area plans. Directs the Secretary to establish within the Department of Agriculture a Resource Conservation and Development Policy Board to advise the Secretary regarding the administration of this Act. Directs the Secretary to evaluate the program provided for in this Act and to report on such evaluation by December 31, 1986. Authorizes appropriations necessary to carry out this Act, with specified annual limits on technical and financial assistance and on loans.
United States · United States Congress · 22 January 1981
Amends the Federal Water Pollution Control Act to permit, under specified conditions, owners or operators of publicly owned treatment works not to enforce pretreatment standards developed by the Administrator of the Environmental Protection Agency.
United States · United States Congress · 22 January 1981
Amends the Internal Revenue Code to exclude from gross income interest or dividends earned on savings deposits which are used by the deposit institutions for residential mortgage lending purposes.