United States · United States Congress · 22 June 1982
Expresses the sense of Congress that legislation should be proposed and enacted to: (1) establish parity between the compensation of Government Printing Office (GPO) employees and the compensation of other Federal employees performing similar work; (2) fix the wages of GPO employees in accordance with the prevailing wage rate system applicable to executive branch employees; and (3) strengthen the Public Printer's ability to manage without infringing on the oversight responsibilities of the Joint Committee on Printing.
United States · United States Congress · 16 June 1982
Amends the Internal Revenue Code to provide for the collection of defaulted Federal student loans by offset against income tax refunds of those individuals found to be in default on such loans. Defines "Federal student loans" as federally insured loans to graduate students in the health professions. Sets forth special rules with respect to joint returns and fiscal year taxpayers. Requires the Secretary of the Treasury to: (1) notify the Secretary of Health and Human Services of the amounts collected with respect to any loan to any individual; and (2) transfer such amounts to the Secretary as is necessary to reimburse the entity or fund to which the loan is repayable. Requires that such notification and transfer be made not less often than monthly.
United States · United States Congress · 15 June 1982
No Net Cost Tobacco Program Act of 1982 - Title I: Modification of Tobacco Price Support Program - Amends the Agricultural Act of 1949 to authorize the Secretary of Agriculture to carry out tobacco price support through Commodity Credit Corporation loan agreements with producer-owned cooperative marketing associations which will in turn make loans to producers. Requires each association to establish a separate capital account, to be known as a No Net Cost Tobacco Fund (Fund), consisting of contributions from producers of quota tobacco and, for associations handling Flue-cured tobacco, from persons who lease allotments and quotas to others. Requires such contributions for price support eligibility. Authorizes an association to set contribution rates subject to the Secretary's approval. Prohibits the Secretary from approving a contribution rate not high enough to reimburse the Corporation for any net loan losses that the association may incur. Permits an association to invest Fund moneys and to issue capital stock or certifications to investors. Requires that any earnings on Fund investments become a part of the Fund. States that net gains from the sale of an association's loan collateral tobacco shall go to the Corporation to be used to offset future losses or to reduce outstanding loan debts. Authorizes the Secretary to release excess gains to the associations. Authorizes the Secretary to adjust the support rates for different grades of tobacco to avoid market excesses. Authorizes the Secretary to provide for an alternate auction sale of "excessively priced" Flue-cured tobacco. Sets forth conditions for such designation and sale. Title II: Modification of Flue-Cured Tobacco Marketing Quota System - Amends the Agricultural Adjustment Act of 1938 to permit the leasing of Flue-cured tobacco acreage allotments or quotas. Prohibits such agreements after June 15 of the crop year, except in cases of natural disaster damage, but limits them to adjoining counties within the same State. Requires all arrangements in connection with a lease to be exclusively between lessor and lessee or an agent who regularly represents either party in nontobacco-related business transactions. Prohibits subleasing. Requires each party to file a certificate of compliance with the county committee in order for the lease to take effect. Makes loss of price supports for the affected acreage the penalty for false statements made in such certificate. Provides that the Flue-cured tobacco acreage allotment for a farm to which an allotment is transferred by sale or lease may not exceed 50 percent of such farm's tillable cropland. Permits the sale of allotments or quotas, but only to active producers (as defined in this Act) in the same county. Requires a producer to sell or forfeit any Flue-cured tobacco allotment: (1) which exceeds 50 percent of the farm's tillable cropland; or (2) in which no risk-sharing is involved. Requires a nonagricultural entity (other than an individual) which owns a Flue- cured tobacco farm but is not significantly involved in its management to sell its Flue-cured tobacco allotments or quotas or forfeit them. Requires the national yield factor for Flue-cured tobacco to be adjusted in 1983, and at five-year intervals thereafter, to the past five years' moving average. Permits individual adjustments. Authorizes producer-owned cooperative associations to make direct sales of Flue-cured tobacco.
United States · United States Congress · 2 June 1982
Military Widows and Surviving Children Benefits Restoration Act -- Directs the Secretary of the military department concerned to make monthly payments equivalent to the child's insurance benefit under the Social Security Act before enactment of the Omnibus Budget Reconciliation Act of 1981 to certain children between the ages of 18 and 22 attending institutions of higher learning. Limits eligibility for such payments to children of veterans who died on active duty or from a service-connected disability. Directs the Secretary to make a lump-sum payment to persons who would have been entitled to such payments one month before the effective date of this Act. Directs the Secretary of the military department concerned to make monthly payments to the surviving spouse of such a veteran in the amount such spouse would have received under the Social Security Act were she caring for a child under 16 (when such child is actually between 16 and 18 years of age). Directs the Secretary to make a lump-sum payment to persons who would have been entitled to such payments one month before the effective date of this Act. Directs the Secretary concerned to notify each member of the armed forces that their dependents will be ineligible for such benefits should the member die after the applicable date, in no case later than August 13, 1983. Directs the Secretary of Health and Human Services to provide the Secretary concerned with information necessary to carry out this Act.
United States · United States Congress · 2 June 1982
Military Widows and Surviving Children Social Security Benefits Restoration Act - Requires the Secretary of Health and Human Services to make monthly payments to persons who: (1) would have been entitled to child's insurance benefits on the basis of student status under title II (Old Age, Survivors and Disability Insurance) of the Social Security Act as in effect before the amendments made by the Omnibus Budget Reconciliation Act of 1981; and (2) are children of individuals who were members or former members of the Armed Forces before August 13, 1981, and who die while in active military service within a specified time period or who die from a service-connected disability incurred within a specified time period. Provides that such monthly payments shall be equal to the monthly child's insurance benefit to which such persons would have been entitled under title II of the Social Security Act. Requires the Secretary to make monthly payments to persons who: (1) are surviving spouses of individuals who were members or former members of the Armed Forces before August 13, 1981, and who die while in active military service during a specified time period or who die from a service-connected disability within a specified time period; and (2) are not entitled to mother's insurance benefits under title II of the Social Security Act because they are caring for such veterans' children who are between the ages of 16 and 18 and are entitled to child's insurance benefits. Provides that such monthly payments shall be equal to the monthly mother's insurance benefit which such persons would receive under title II of the Social Security Act if the children in their care were under 16 years old. Provides that payments under this Act shall be paid from the Federal Old-Age and Survivors Insurance Trust Fund.
United States · United States Congress · 26 May 1982
Amends the Internal Revenue Code to limit the income tax deduction for living expenses for Members of Congress. Requires Members to certify that they are physically present in Washington, D.C., for official business and that they own or rent a residence in their home district. Provides that such deduction shall be determined by multiplying the number of Washington business days by the actual subsistence allowance for Washington, D.C., payable for such days.
United States · United States Congress · 21 May 1982
Professional Sports Stabilization Act of 1982 - Declares that it shall not be unlawful under any antitrust law for a professional sports league and its member clubs to enforce rules: (1) requiring approval by the league membership for the relocation of a member club; or (2) providing for the division of league or member club revenues that promote comparable economic opportunities for member clubs. Prohibits State and local governments from imposing limitations on the collective conduct of sports leagues or member teams authorized by this Act. Specifies the applicability of this Act to actions commenced under the antitrust laws before its enactment.
United States · United States Congress · 6 May 1982
Dairy Stabilization Act of 1982 - Amends the Agriculture Act of 1949 to revise the method of determining milk price support levels for FY 1983 through 1985. Sets the price of milk for domestic needs: (1) at $13.10 per hundredweight for FY 1983; and (2) at the percentage of parity for FY 1984 and 1985 which $13.10 represented as of October 1, 1982. Declares that price support for milk shall be provided through the purchase of milk and milk products by the Commodity Credit Corporation (CCC) under borrowing authority approved by Congress and repayments from the National Dairy Board established by this Act. Authorizes the Board to make payments to milk marketers whose levels of marketing have been reduced from the levels of the prior fiscal year. Sets forth the method of determining such payments. Authorizes the CCC to increase its milk purchases in the event of an increase in dairy product imports. Establishes a National Dairy Board to: (1) determine the relative proportions of milk to which the price support levels will apply and the producer responsibility for dairy product purchases; (2) establish a uniform rate by which the price paid farmers for milk in excess of domestic commercial market needs shall be reduced to achieve the price support provided by this Act and announce such rate before October 1 of each year; (3) dispose of dairy products acquired by the CCC through authorized price support operations; and (4) remit proceeds from price support operations to the CCC. Authorizes the Board to develop innovative programs for the disposition of dairy products and to make recommendations to the Secretary of Agriculture regarding details of the operation of the price support program. Sets forth methods of deriving funding for producer responsibility of program operations.
United States · United States Congress · 6 May 1982
Dairy Products Promotion Act of 1982 - Authorizes the Secretary of Agriculture, by dairy products promotion order, to establish a National Dairy Promotion Board made up of dairy farmers to promote dairy products. Finances such Board through dairy producer assessments. Authorizes appropriations.
United States · United States Congress · 21 April 1982
Omnibus Congressional Compensation Reform Act of 1982 - Amends the Legislative Reorganization Act of 1946 to eliminate the annual adjustment in compensation for Members of Congress. Amends the Federal Salary Act of 1967 to make the President's recommendation for congressional salaries of an advisory nature only, unless otherwise provided by law. Provides that the annual rate of pay for Members of Congress shall be the rate payable on the date of enactment of this Act. Repeals the provision of law which authorizes permanent appropriations for compensation for Members. Amends the Internal Revenue Code of 1954 to require Members to substantiate their living expense deductions. Directs that any increase in compensation, tax benefits, or increase in outside earned income limitations (including honoraria) shall take effect at the beginning of the Congress following the Congress during which such benefits are authorized. Amends rule VIII of the Rules of the House of Representatives and rule XII of the Standing Rules of the Senate to require a recorded vote on such types of legislation. Makes it out of order in the House or Senate to consider such legislation if it contains items other than those relative to congressional benefits.
United States · United States Congress · 1 April 1982
Amends the Internal Revenue Code to limit the income tax deduction for living expenses for Members of Congress to days when Members certify that they are physically present in Washington, D.C. for official business.
United States · United States Congress · 24 March 1982
Amends the Internal Revenue Code to revise requirements for the tax exclusion of interest on mortgage subsidy bonds. Revises the arbitrage requirements for tax-exempt bonds to increase the amount by which interest rates on such bonds may exceed the interest rates on mortgages financed with such bonds. Increases the amount by which the acquisition cost of bond-financed residences may exceed the average area purchase price of other homes in the same statistical area. 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.
United States · United States Congress · 18 March 1982
National Defense Port System Act of 1982 - Title I: Establishment of National System of User Taxes for Deep-Draft Channels and Harbors - Directs the Secretary of the Treasury, not later than three months after recommendations have been made by the Deep-Draft Port Task Force established by this Act, to develop a nationally uniform system of user taxes to be imposed on the use of ports with deep-draft channels or harbors by any vessel which is in: (1) the business of transporting property or passengers for compensation or hire; or (2) transporting property or passengers in the business of the owner, lessee, or operator of the vessel. Requires such taxes to be imposed with respect to commodities, classes of commodities, and passengers. Prohibits any such tax from being levied on any item with respect to which such a tax has been previously paid. Allows the Secretary to increase or decrease such user tax under certain circumstances. Requires the master of any vessel with respect to which a tax is imposed to deliver to the Customs Service a manifest of the cargo and a declaration of the passengers upon arrival in a port having a deep-draft channel or harbor. Establishes the Deep-Draft Commercial Port Task Force to make specific recommendations to the Secretary of the Treasury concerning the classifications and amounts of tax which should be established for commodities. Directs the Secretary to impose a tax on the use of any deep-draft channel or harbor by any vessel transporting property which is to be unloaded at a privately owned port which is not open to public navigation and is not operated and maintained by the United States. Grants the consent of Congress, subject to certain conditions, to the imposition of certain State user fees at deep-draft channels or harbors. Requires the net produce of such fees to be transferred to, and for the use of, the United States Treasury. Prohibits the use of funds from the Port System Trust Fund or the general fund of the Treasury for any approved navigation improvement project, the operation or maintenance of any deep-draft channel or harbor, or any other civil works project of the Secretary of the Army in any State unless such State has port user fees in effect not later than two years after enactment of this Act. Directs the Secretary of the Treasury to collect and enforce such State port user fees. Establishes the Port System Trust Fund within the Treasury. Directs the Secretary to report annually to Congress on Trust Fund operations. Makes amounts in the Trust Fund available for: (1) navigation improvement projects; and (2) operation and maintenance of specified channels and harbors, including those in the Saint Lawrence Seaway, Great Lakes, or their connecting waters. Sets the Federal share of any approved navigation improvement project at 90 percent. Revises financing procedures of the Saint Lawrence Seaway Development Corporation. Terminates Corporation obligations outstanding on the effective date of this Act. Title II: Construction and Financing of Navigation Improvement Projects to Increase the Depth of Deep-Draft Channels and Harbors to More Than Forty-Five Feet - Directs the Secretary of the Army, acting through the Chief of Engineers, to expedite construction of approved navigation improvement projects if the appropriate State port authority enters into a specified agreement with the Secretary. Requires such port authority to reimburse the United States for 100 percent of construction, operation, and maintenance costs. Allows State port authorities to construct approved navigation improvement projects at their own expense and to finance such construction through the adoption of duties of tonnage. Grants the consent of Congress, subject to certain conditions, to the levying by the States of such duties of tonnage. Directs the Comptroller General to audit the operations of such State port authorities and to report to Congress thereon. Sets forth enforcement procedures concerning such duties of tonnage. Title III: Expedited Procedure for Approval of Navigation Improvement Projects and Related Landside Facilities Projects - Directs the Secretary to establish a project schedule for all agency decisions relating to navigation improvements and landside facilities projects. Authorizes the Secretary to modify the project schedule at any time. Describes procedures concerning judicial review of final agency decisions covered by a project schedule.
United States · United States Congress · 17 March 1982
Directs the Secretary of the Treasury to study and report to specified congressional committees on the advisability of replacing the Federal individual income tax or such income tax and the Federal corporate income tax with a simplified income tax on gross income.
United States · United States Congress · 15 March 1982
Family Housing Production Act of 1982 - Requires the Secretary of Housing and Urban Development, through the Government National Mortgage Association, to enter into five-year contracts to provide periodic assistance payments on behalf of homeowners to mortgagees and other lenders. Directs the Secretary to give priority to assisting persons who have not owned a home within the last three years. Permits payments to be made only to a mortgagor who satisfies requirements for creditworthiness and has a family income not exceeding 140 percent of the area median income and who: (1) is the original owner of a manufactured home the loan for which is incurred under the National Housing Act; or (2) has a fixed-rate 30-year mortgage which is secured by a home built after enactment of this Act, has no prepayment penalty, and requires increased payments beginning with the second year which shall be applied to the principal obligation until it is paid off. Limits the amount of assistance payments to the difference between the amount of the monthly payment for principal, interest, and loan insurance under the first year of the loan and the amount the monthly payment for principal and interest would be if the interest rate on the loan were: (1) ten percent (12 percent for a manufactured home); or (2) four percentage points less than the rate specified in the loan, whichever rate is higher. Requires that the mortgagor pay at least 25 percent of his or her income toward the monthly loan payment. Declares that manufactured homes shall comprise not more than 20 percent of the units assisted under this Act. Directs the Secretary to allocate the amount available to carry out this Act on the basis of the population, decline in housing starts, and unemployment rate in each State relative to all States. Directs the Secretary to recapture the lesser of the amount of assistance provided under this Act or an amount equal to 50 percent of the net appreciation of the property whenever the mortgagor sells the property or rents it for a period exceeding one year. Authorizes the Secretary to insure mortgages assisted under this Act.
United States · United States Congress · 4 March 1982
Prohibits the Secretary of a military department or the Secretary of Energy from contracting out firefighting or security functions at military installations or installations where functions relating to military applications of nuclear energy are performed.
United States · United States Congress · 25 January 1982
Amends the Federal census provisions to require Federal agencies to use the most recent population data (rather than the most recent decennial census data) in determining the amount of benefits due State and local governments under Federal programs.
United States · United States Congress · 30 November 1981
Amends the Clayton Act to limit the amount a foreign state may recover in a suit for damages resulting from an antitrust violation, to the amount of actual damages it sustained and the cost of the suit. Declares that such limitation shall not apply to any foreign state which: (1) would not be immune from the jurisdiction of U.S. courts with respect to a claim against it arising out of the same violation; (2) waives all of its defenses as a foreign state to any counterclaims or crossclaims; (3) engages primarily in a commercial activity; and (4) does not function as a procurement entity for itself or another foreign state with respect to such violation.
United States · United States Congress · 29 October 1981
Constitutional Amendment - Requires Congress, prior to each fiscal year, to adopt a statement of receipts and outlays for that year in which total outlays are no greater than total receipts. Permits Congress in such statement to provide for a specific excess of outlays over receipts by a three-fifths vote directed solely to that subject. Prohibits total receipts for any fiscal year set forth in such statement from increasing by a rate greater than the rate of increase in national income in the last calendar year ending before such fiscal year, unless Congress passes a bill directed solely to approving specific additional receipts and such bill has become law. Permits Congress to waive the provisions of this Act with respect to any fiscal year in which a declaration of war is in effect. Prohibits the Congress from requiring that the States engage in additional activities without compensation equal to the additional costs. 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 · 28 October 1981
Taxpayer's Court Costs and Fees Act of 1981 - Amends the Internal Revenue Code to permit reasonable court costs, including attorneys' fees, to be awarded to the prevailing party (other than the United States or a creditor of the prevailing party) in a civil action brought by the United States in any court of the United States for the determination, collection, or refund of any tax, interest, or penalty imposed under the Internal Revenue Code. Prohibits such an award where the court finds that the position of the United States was substantially justified or that special circumstances make an award unjust. Includes within the definition of "attorney's fees" amounts paid to an individual who is not an attorney but who is authorized to practice before the Tax Court. Defines "prevailing party" as a party who substantially prevails with respect to the amount in controversy or the most significant issue or set of issues.
United States · United States Congress · 28 October 1981
Expresses the sense of the Congress that the President should negotiate an agreement with Japan providing that Japan pay the United States an annual security tax equal to two percent of Japan's gross national product, in order to compensate the United States for expenditures made pursuant to the United States/Japanese Treaty of Mutual Cooperation and security.
United States · United States Congress · 20 October 1981
Bankruptcy Improvements Act of 1981 - Amends title 11 of the United States Code (Bankruptcy) to establish an eligibility test for liquidation bankruptcy relief based on the individual petitioner's ability to pay a reasonable portion of his debts out of future income. Permits the court to dismiss a bankruptcy case under chapter 7 (liquidation) upon the motion of any party in interest filed not later than 30 days after the meeting of creditors, and after notice and a hearing, if the debtor is ineligible for relief under such title. Requires the bankruptcy judge to preside at any meeting of creditors and to perform such additional judicial duties any may be required. Declares that the value of the creditor's interest in the estate's interest in such property shall be determined in light of the purpose of the valuation and of the proposed disposition or use of such property, and in conjunction with any hearing on such disposition or use or on a plan affecting such creditor's interest. Declares that the value of consumer goods which the debtor seeks to redeem in liquidation shall be presumed to be the established resale market price, if such market exists. Requires the debtor in bankruptcy cases to file a statement of income and expenses. Requires the debtor, if the debtor's schedule of assets and liabilities includes consumer debts which are secured by property of the estate, to file and serve upon each creditor holding such security and the trustee, a statement expressing the debtor's intention with respect to retention or surrender of the collateral. Requires the debtor, at or before the meeting of creditors provided for by such title, to perform his intention with regard to such secured creditors. Repeals the provisions concerning exempt property and makes the States responsible for establishing exemptions to bankruptcy proceedings. Makes any debt which was incurred on or within 90 days before the date of the filing of a petition under such title nondischargeable. Allows creditors to enforce liens which have not been voided in bankruptcy. Permits reaffirmation of consumer debts subject to the debtor's right to rescind any such agreement within 60 days or until a discharge is received, whichever occurs later, by giving a written notice of rescission to the creditor. Declares that at the meeting of creditors the court shall inform the debtor of the nature and effect of a discharge. Eliminates the trustee's power to avoid liens or recover payments made within 90 days of filing petition in bankruptcy (within one year in the case of an insider) unless the creditor had reasonable cause to believe the debtor was insolvent. Permits the court, upon notice and hearing, to require a creditor to accept payments in redemption of the value of a claim secured by a nonpossessory, nonpurchase money security interest in tangible personal property, over a reasonable period not to exceed five years, if such tangible personal property consists of specified objects. Allows a creditor, upon 10 days notice to the debtor and codebtor, to collect any portion of a debt from the codebtor which is not being paid by the debtor through the adjustment of debts of such debtor with a regular income. Requires payments under an adjustment of debts payment plan to commence at the time of the filing of the plan. Provides for the return of such funds after deducting the costs of administration if no plan is confirmed. Provides for the separate classification of co-debtor claims and non-dischargeable claims and authorizes payment of them under an adjustment of debts payment plan. Allows a debtor to choose such a repayment plan of up to five years. Bases such repayment upon the debtor's ability to repay out of future income after taking into account the basic living necessities for the debtor and dependents. Provides for an early discharge of debts where at least 70 percent of all allowed unsecured claims are paid. Permits a hardship discharge of otherwise non-dischargeable debts to the extent the debtor attempted to pay such debts under an adjustment of debts payment plan.
United States · United States Congress · 7 October 1981
Prompt Payment Act of 1981 - Requires Federal agencies to pay interest on overdue payments to businesses for property or services. Requires the Office of Management and Budget (OMB) to prescribe required payment dates. Specifies the procedures for computing such interest. Requires an agency to pay any interest charges out of funds made available for administration of its programs. Authorizes Federal grant recipients to provide for the payment of interest on overdue payments on their procurement contracts. Directs each agency to report to OMB annually on interest payments made during the fiscal year. Requires OMB to report to specified congressional committees on agency compliance with this Act. Requires the Director of OMB to delegate responsibility for OMB functions under this Act to the Office of Federal Procurement Policy.
United States · United States Congress · 30 September 1981
Authorizes the President to present, on behalf of the Congress, a gold medal to Fred Waring, Louis L'Amour, and the widow of Joe Louis. Authorizes the Secretary of the Treasury to strike and sell bronze duplicates of each medal. Authorizes appropriations.
United States · United States Congress · 24 July 1981
Designates the Roy A. Taylor Forest in the Natahala National Forest in North Carolina. Authorizes the Secretaries of Agriculture and the Interior: (1) to erect appropriate signs and markings commemorating the contributions of Roy A. Taylor and the designation of Roy A. Taylor Forest; and (2) to place information and designations of such forest in publications for the Blue Ridge Parkway. Authorizes appropriations to carry out this Act.
United States · United States Congress · 15 July 1981
Independent Local Newspaper Act of 1981 - Amends the Internal Revenue Code to provide for the establishment of independent local newspaper advance estate tax trusts to facilitate payment of the estate tax imposed upon the estate of a decedent who owned an interest in an independent local newspaper. Sets forth requirements for the establishment of such trusts, including requirements that such trusts: (1) be created pursuant to a plan adopted by the newspaper; (2) be governed by a written instrument which requires that contributions to and income of the trust be invested solely in obligations of the United States; (3) name as trustee a bank or another individual who is capable of administering such trust in compliance with the requirements of this Act; (4) maintain trust assets separately from other property; (5) accept contributions exclusively from independent local newspapers; (6) devote assets of the trust solely to the payment of the estate tax; and (7) distribute any excess funding of the trust to its beneficiaries or their estates. Limits an individual who owns interests in several independent local newspapers to participation in not more than one estate tax payment trust. Defines an "independent local newspaper" as a newspaper publication which is not a member of a chain and which maintains all its offices in a single city, community or metropolitan area, or, on January 1, 1981, within one State. Defines "excess funding" as the excess of the face value of the assets of a qualified trust over: (1) 70 percent of the value of a decedent's interest in an independent local newspaper which is includable in his gross estate; or (2) a decedent's estate tax which is attributable to his interest in an independent local newspaper included in his gross estate. Exempts independent local newspaper advance estate tax trusts and the individuals for whom such trusts are established from income taxation with respect to income earned by such trust. Terminates such tax-exempt status if the taxpayer's interest in the newspaper is sold, the newspaper itself is sold or ceases to qualify as an independent newspaper, or there is an excess funding of the trust. Provides that the amount of any excess funding shall be distributed to the individual for whom the trust was created and included in his gross income or gross estate. Allows an income tax deduction to local independent newspapers for contributions made to estate tax payment trusts. Limits the amount of such deduction to 50 percent of the taxable income derived from such newspaper for the taxable year. Requires the redetermination of the estate tax of an individual for whom an independent local newspaper advance estate tax trust is established and the inclusion in the gross estate of such individual of an amount equal to the estate tax payment made by such trust which is attributable to the individual's interest in the newspaper, if the trust or any heir of the individual sells, within 15 years of the death of such individual, any part of the interest in the newspaper with respect to which the trust was created. Provides for the gradual phaseout of any additional estate tax which is imposed due to the premature sale of a newspaper, if the sale does not occur prior to the ten to 15 year period following the death of the individual for whom the estate tax trust is established. Permits the shareholders of an independent local newspaper who receive the stock of a corporation which the newspaper controls to exclude from their gross income any gain realized as a result of such distribution if: (1) the shareholders do not sell such stock within five years after the date of its distribution; (2) the shareholders retain control of the newspaper for five years after the date of the distribution; and (3) the newspaper and the controlled corporation each continue to be engaged in the active conduct of a trade or business through the five year period beginning on the date of the distribution. Excludes from the gross estate of a decedent the value of any interest in an independent local newspaper which he holds at the time of his death and any estate tax payment made by an independent local newspaper advance estate tax payment trust. Permits the executor of an estate which includes an interest in an independent local newspaper to pay the estate tax in two or more (but not exceeding ten) equal installments. Limits the maximum amount of estate tax that may be paid in installments to the excess of the amount of estate tax over the tax that would have been imposed if the interest in the newspaper had not been included in the gross estate, reduced by all payments of the estate tax made by an independent local newspaper advance estate tax payment trust.
United States · United States Congress · 25 June 1981
Title I: Margin Requirements - Margin Requirements Fairness Act of 1981 - Amends the Securities Exchange Act of 1934 to prohibit certain credit transactions for the acquisition of securities of U.S. corporations by either U.S. or non-U.S. persons where such a transaction is financed by either U.S. or non-U.S. lenders if: (1) such a transaction is or would be prohibited if it had been made or had otherwise occurred in a lender's office or other place of business in the United States; and (2) a statement is required to be filed under such Act in connection with the acquisition or carrying of such securities. Requires the statement filed with the Securities and Exchange Commission, pursuant to such Act, by any person who is directly or indirectly the beneficial owner of more than five percent of any equity security of a class which is registered pursuant to such Act, to include information as to whether the margin requirements imposed pursuant to such Act and the regulations promulgated thereunder are applicable and not being violated. Applies the provisions of this Act to any purchase or carrying of securities on or after June 24, 1981, if: (1) the loan or extension of credit involved originated, or if the loan proceeds used to purchase or carry such securities were disbursed, on or after such date; or (2) the person who has obtained, received or used the loan or extension of credit to purchase or carry securities acquires directly or indirectly by any means any additional securities of the same issuer on or after such date. Title II: Foreign Energy Investment - Foreign Energy Investment Act of 1981 - Makes it unlawful, during the period beginning on July 1, 1981, and ending on March 31, 1982, for any Canadian person to acquire, directly or indirectly, by purchase or trade any voting securities of a United States energy resources corporation if, after such acquisition, more than five percent of any class of voting securities of such corporation will be directly or indirectly owned by: (1) such Canadian person; (2) any partnership, limited partnership, syndicate, or other group of which such Canadian person is a member; (3) the other members of any such partnership, limited partnership, syndicate, or other group; or (4) any combination of the foregoing. States that such prohibition shall not apply to any acquisition which was the subject of an agreement to merge between a United States energy resources corporation and a Canadian person prior to June 25, 1981. Directs the Secretary of Energy, in consultation with specified Federal officials and agencies, to undertake a comprehensive study of direct and indirect investment in United States energy resources enterprises by foreign persons and to report the findings and recommendations to Congress not later than March 1, 1982.
United States · United States Congress · 22 June 1981
Amends the Bankruptcy Reform Act of 1978 to require the bankruptcy court, in the case of a bankruptcy petition filed by a person engaged in the business of operating a farm produce storage facility, within specified time limits, to: (1) identify those farm producers who have produce in storage, and those parties which have secured interests in farm produce, within such facility; (2) audit the assets of the farm produce storage facility for the purpose of determining the extent of farm produce available for distribution to such producers and secured creditors; and (3) direct the abandonment of such farm produce according to procedures set forth by this Act. Declares that such procedures shall be applied by the court solely for the purpose of effectuating abandonment of farm produce which is not property of the estate, or is of inconsequential value to the estate, and shall not be construed to limit the right of any party to seek abandonment of any other property. Prohibits distribution of farm produce ordered abandoned by the court from being delayed due to the pendency of any appeal from the orders of abandonment, except that a stay of orders may be entered under specified conditions. Makes any such stay of orders appealable as of right by any aggrieved party. Grants to any farmer who, having delivered agricultural products to a licensed warehouseman upon a contract for sale and who has not received the agreed upon payment, a lien against products of like products in the licensed facility in excess of that required to satisfy receipted or other storage obligations, title to which may be then vested in such warehouseman, to the extent of the payment agreed upon for the purchase of the product sold. Attaches such lien at the time of the formation of the contract for sale and continues it until the obligations of the warehouseman to the seller of the products are satisfied.
United States · United States Congress · 8 June 1981
House Committee on Agriculture Reconciliation Measures - Subtitle A: Reductions in Authorizations for Appropriations - Amends the Food Stamp Act of 1977 to extend the food stamp program, at reduced funding levels, through fiscal year 1985. Makes reduced authorizations and limits outlays for each of fiscal years 1982 through 1984 for: (1) dairy indemnity payments by the Agricultural Stabilization and Conservation Service; (2) marketing activities payments to States and possessions by the Agricultural Marketing Service; (3) specified rural development assistance grants by the Farmers Home Administration; (4) Soil Conservation Service and other agricultural conservation program expenses; (5) international programs under the Agricultural Trade Development and Assistance Act of 1954 (Public Law 480); (6) specified expenses of the Forest Service (but not for the Bald Mountain road and timber sale in the Siskiyou National Forest); and (7) salaries and expenses of certain agencies, offices, and functions of the Department of Agriculture. Subtitle B: Reduction in Direct Spending - Amends the Agricultural Act of 1949 to set a new formula for the determination of the price support for milk during fiscal years 1982 through 1985. Limits the range of support from 75 percent to 90 percent of parity, keyed to net Government price support purchases of nonfat dry milk and the milk equivalent of butter and cheese. Requires an increase of the support price whenever dairy product imports are increased due to an expansion of imports or a termination of import restraints. Requires semiannual adjustments of such support price. Directs the Secretary to notify the congressional agriculture committees thirty days before the effective date of a new support level. Amends the United States Grain Standards Act, for fiscal years 1982 through 1984, to authorize the Administrator of the Federal Grain Inspection Service to collect inspection fees to defray administrative and supervisory costs. Limits such costs, for fiscal years 1982 through 1985, to 35 percent of the total costs of the Service. Authorizes appropriations for such years. Directs the Secretary of Agriculture to establish an advisory committee to advise the Administrator on the implementation of the United States Grain Standards Act of 1976. Amends the United States Cotton Standards Act, the Cotton Statistics and Estimates Act, and the United States Cotton Futures Act to direct the Secretary to collect directly from participating producers cotton classing and loose cotton sale fees in an amount sufficient to cover the costs of such services, including administrative and supervisory costs. Limits the net cost estimate used to calculate such fees to specified amounts for fiscal years 1982 through 1984. Directs the Secretary to impose charges for establishing cotton standards. Credits all such fees and charges to the current appropriation incurring such costs and leaves them available until expended. Exempts from the Federal Property and Administrative Services Act of 1949 any cotton samples submitted in compliance with the requirements of such Acts and thereby becoming United States property. Requires the Secretary to hold annual meetings with cotton industry representatives to review such activities. Amends the Tobacco Inspection Act to direct the Secretary to fix and collect fees for inspection and certification, the establishment of standards, sampling and weighing, and other services at designated auction markets. Requires such fees to cover the costs of such services, including administrative and supervisory costs. Credits such fees to the current appropriation incurring such costs and leaves them available until expended. Requires assessment of such fees against warehouse operators, who shall collect them from tobacco sellers. Directs the Secretary to set up a national advisory committee of tobacco producers, with advisory subcommittees for each major kind of tobacco, to advise him about such services and fees. Amends the United States Warehouse Act to direct the Secretary to collect warehouse examination, inspection, and licensing fees sufficient to cover the costs of such services and licenses, including administrative and supervisory costs. Limits the amounts of such fees for fiscal years 1982 through 1984. Authorizes appropriations for other services under such Act. Repeals the Naval Stores Act relating to standards and prohibitions regarding commerce in spirits of turpentine and rosin. Amends the Consolidated Farm and Rural Development Act to allow interest rates equal to the current market yield for municipal bonds for direct or insured loans to public bodies or nonprofit associations for water and waste disposal facilities and essential community facilities. Limits to five percent per annum the interest rate on such loans for facility upgrading or new facility construction in poverty areas. Sets the range for interest rates on direct or insured low-income farm ownership loans at between five percent per annum and one-half the current market yield on United States bonds. Requires a two percent per annum additional interest rate on any direct or insured loan to a State or local government for construction of certain facilities on prime farmland where non-prime farmland is available. Marks for such treatment certain facilities for: (1) recreational uses; (2) rural small business enterprises; (3) electrical transmission systems; (4) pollution abatement and control; and (5) subterminal uses. Limits to 90 percent of actual production loss the amount of farming, ranching, or aquaculture production loss for which an applicant may receive an emergency loan. Reduces the total amount of certain insurable rural development loans for fiscal year 1982: (1) from $1,000,000,000 to $300,000,000 for water and waste facilities; and (2) from $500,000,000 to $130,000,000 for community facilities. Amends the Agricultural Act of 1949 to eliminate certain waiver of interest provisions so the Secretary may collect interest on loans made on the 1980 and 1981 crops of wheat and feed grains placed in the farmer-held reserve. Reduces to $52,000,000 the ceiling on administrative expenses of the Commodity Credit Corporation for fiscal year 1982.
United States · United States Congress · 28 May 1981
Prohibits the Federal Trade Commission from investigating or taking any action concerning any State regulated profession until Congress enacts legislation which expressly provides that the Commission has authority over professions and that the Commission's authority preempts State authority. Vacates any such action taken during the period beginning on May 28, 1981, and ending on the date of enactment of this Act.
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 · 6 May 1981
Amends the Internal Revenue Code to exclude from gross income interest earned on certificates of deposit issued by banks, certain savings institutions, or credit unions. Requires such certificates to be issued between June 30, 1981 and July 31, 1982, to have a one year maturity, and to bear interest at a rate not greater than 70 percent of the average yield of U.S. Treasury bills. Limits the amount of such exclusion to $1,000 ($2,000 for joint returns).
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).
![Official portrait of Rep. Whitley, Charles O., Sr. [D-NC-3]](https://www.congress.gov/img/member/w000419_200.jpg)