United States · United States Congress · 10 May 1995
Amends the Internal Revenue Code to make permanent the special rules for gifts of qualified appreciated stock to certain tax-exempt private foundations for purposes of the itemized deduction of charitable contributions. Includes grants to certain foreign organizations as qualified distributions by private foundations for purposes of the tax on failure to distribute income. Changes the due date for first quarter estimated tax payments by private foundations.
United States · United States Congress · 9 May 1995
Jerusalem Embassy Relocation Implementation Act of 1995 - Declares it is U.S. policy that: (1) Jerusalem should be recognized as the capital of the State of Israel; and (2) construction of the U.S. Embassy in Jerusalem should begin no later than December 31, 1996, and officially open no later than May 31, 1999. States that not more than 50 percent of the funds appropriated for FY 1997 and 1999 to the Department of State for "Acquisition and Maintenance of Buildings Abroad" may be obligated in the respective fiscal year until the Secretary of State determines, and reports to the Congress, that (for FY 1997) such construction has begun and that (for FY 1999) the Embassy has opened. Limits the availability of specified amounts of such funds in certain fiscal years until they are expended for: (1) costs associated with relocating the U.S. Embassy to Jerusalem; and (2) the costs for its construction. Requires the Secretary of State to report to the Speaker of the House of Representatives and the Committee on Foreign Relations of the Senate on: (1) the Department of State's plan to implement this Act; and (2) progress made toward opening the U.S. Embassy in Jerusalem.
United States · United States Congress · 9 May 1995
Expresses the sense of the Senate that the current Federal income tax deduction for interest paid on debt secured by a first or second home located in the United States should not be further restricted.
United States · United States Congress · 9 May 1995
Expresses the sense of the Senate that: (1) it regrets that negotiations between the United States and Japan for reductions in trade imbalances in automotive sales and parts, through the elimination of restrictive Japanese market-closing practices, have collapsed; and (2) if negotiations fail to open the Japanese auto parts market, it supports the President's decision to impose sanctions on Japanese products.
United States · United States Congress · 4 May 1995
TABLE OF CONTENTS: Title I: Eligible Shareholders of S Corporation Subtitle A: Number of Shareholders Subtitle B: Persons Allowed as Shareholders Subtitle C: Other Provisions Title II: Qualification and Eligibility Requirements for S Corporations Subtitle A: One Class of Stock Subtitle B: Elections and Terminations Subtitle C: Other Provisions Title III: Taxation of S Corporation Shareholders Title IV: Effective Date S Corporation Reform Act of 1995 - Title I: Eligible Shareholders of S Corporation - Subtitle A: Number of Shareholders - Amends the Internal Revenue Code to increase from 35 to 50 the maximum number of shareholders of an S corporation (electing small business corporation). Allows members of a family to be treated as one shareholder. Subtitle B: Persons Allowed as Shareholders - Allows the following entities to be shareholders of S corporations: (1) certain tax-exempt organizations; (2) financial institutions that do not use the reserve method of accounting for bad debts; (3) nonresident aliens; and (4) certain small business trusts. Subtitle C: Other Provisions - Extends the post-death qualification for certain trusts to be permitted as shareholders from 60 days to two years. Title II: Qualification and Eligibility Requirements for S Corporations - Subtitle A: One Class of Stock - Allows an S corporation to issue qualified preferred stock. Permits financial institutions to hold safe harbor debt. Subtitle B: Elections and Terminations - Revises the rules on inadvertent terminations by certain trusts of the election to be an S corporation. Authorizes the Secretary of the Treasury to treat certain late elections as timely and to provide an automatic waiver procedure for certain inadvertent terminations. Expands the post-termination transition period until 120 days after a determination is made that the election had terminated in a prior year. Repeals the characterization of excessive passive investment income as a termination event. Increases the tax imposed on such excessive income. Subtitle C: Other Provisions - Permits an S corporation to wholly own the stock of a subsidiary. Provides for the treatment of distributions during loss years. Provides a consent dividend for S corporation elections to by-pass amounts in the accumulated adjustments account when making distributions. Eliminates the rule treating an S corporation as an individual in its capacity as shareholder of another corporation for purposes of subchapter C. Eliminates the pre-1983 earnings and profits accumulated by a corporation that was an S corporation for any taxable year beginning before January 1, 1983, and is so characterized for its first taxable year after December 31, 1995. Allows S corporations to make charitable contributions of inventory and scientific property. Repeals the requirement that partnership rules apply for fringe benefit purposes (making C corporation rules applicable). Provides for the application to two-percent shareholders of S corporations of the rules regarding deduction of health insurance costs of self-employed individuals. Title III: Taxation of S Corporation Shareholders - Applies the exemption from the excise tax on pension plan prohibited transactions to plans providing benefits for S corporation shareholder-employees (as defined before the effective date of the Subchapter S Revision Act of 1982). Treats losses on liquidations of S corporations as ordinary to the extent the loss created by ordinary income pass-through triggered the liquidation. Title IV: Effective Date - Makes this Act effective for taxable years beginning after December 31, 1995.
United States · United States Congress · 3 May 1995
Lowers the amounts under proposed offers to sell defense articles or services, design and construction services, and major defense equipment to Saudi Arabia that trigger a requirement by the President to notify the Speaker of the House and the chairman of the Senate Foreign Relations Committee under the Arms Export Control Act. Makes the lower thresholds that trigger such requirement inapplicable if the Secretary of State certifies to the Congress that the unpaid claims of American firms against the Government of Saudi Arabia that are described in a specified June 30, 1993, report by the Secretary of Defense pursuant to the Department of Defense Appropriations Act, 1993 have been resolved satisfactorily.
United States · United States Congress · 2 May 1995
Commercial Revitalization Tax Act of 1995 - Amends the Internal Revenue Code to allow an investment tax credit equal to a percentage of expenditures for depreciable property in connection with the rehabilitation or reconstruction of a nonresidential building located in: (1) an empowerment zone or enterprise community; (2) an area established pursuant to a consolidated planning process for the use of Federal housing and community development funds; or (3) a low-income commercial revitalization district specially designated by a State or local government which is not primarily a nonresidential central business district. Requires, for qualification of such expenditures, that they exceed 25 percent of the fair market value of the building before rehabilitation. Imposes a State ceiling on the availability of the credit.
United States · United States Congress · 27 April 1995
Intercity Rail Infrastructure Investment Act - Amends Federal highway system law to designate certain National Railroad Passenger Corporation (AMTRAK) intercity passenger rail service corridors to be part of the National Highway System. Grants congressional consent to States with an interest in a specific form, route, or corridor of intercity passenger rail service (including high speed rail service) to enter into interstate compacts to promote such service. Makes construction of and operational improvements for intercity passenger rail facilities, operation of intercity passenger rail trains, and acquisition of rolling stock for intercity passenger rail service eligible projects for funding under the National Highway System. Authorizes States to obligate congestion mitigation and air quality improvement program funds for such projects. Revises the term "mass transportation" to cover intercity passenger rail transportation. Makes such transportation projects eligible for Federal mass transportation funding. Requires grants for intercity passenger rail service to be used to preserve the maximum choice of passenger modes in non-urbanized areas.
United States · United States Congress · 26 April 1995
Amends the Iran-Iraq Arms Non-Proliferation Act of 1992 (the Act) to expand sanctions against Iran to include: (1) U.S. opposition to assistance to Iran from international financial institutions; (2) Export-Import Bank assistance; and (3) foreign assistance under the Foreign Assistance Act of 1961, except for humanitarian assistance. (Such sanctions already apply to Iraq.) Provides for mandatory sanctions against persons or foreign countries that knowingly and materially contribute to efforts by Iran and Iraq to acquire weapons of mass destruction or the means of their delivery. Expands mandatory sanctions against persons who assist in such efforts to include the termination of any current contracts for goods or services and the revocation of existing export licenses. Makes sanctioned persons ineligible to receive visas for entry into the United States and excludes such persons from admission into the United States. Requires the President to prohibit depository institutions that are chartered by or have their principal place of business within the United States from making loans or providing credit to sanctioned persons, except those for purposes of purchasing food or agricultural commodities. Prohibits sanctioned persons, items which are the product or manufacture of such persons, or technology developed by such persons from transiting territory subject to U.S. jurisdiction. Provides for exceptions from sanctions with respect to the procurement of certain defense articles and services. Provides for the imposition of certain sanctions under the Iraq Sanctions Act of 1990 against countries sanctioned under this Act. Expands discretionary sanctions against sanctioned countries to include certain sanctions against vessels that engage in trade in sanctioned countries and the suspension of air flights to or from the United States. Denies funds for the approval of licenses for the export of supercomputers to countries that assist Iran in improving its rocket technology or weapons of mass destruction capability. (Such sanctions already apply to countries that so assist Iraq.) Removes termination dates for sanctions and makes sanctions inapplicable 30 days after the President certifies to the Congress that the sanctioned person or government has ceased to violate the Act.
United States · United States Congress · 26 April 1995
Reaffirms that: (1) the status quo on Cyprus is unacceptable; and (2) all foreign troops should be withdrawn. Welcomes the appointment of a Special Presidential Emissary for Cyprus. Expresses continued support for efforts by the United Nations (UN) Secretary General and the U.S. Government to resolve the Cyprus problem. Insists that all parties to the dispute agree to seek a solution based upon relevant UN resolutions. Supports demilitarization of Cyprus. Encourages the UN Security Council and the U.S. Government to consider alternative approaches to promote a resolution of the dispute based upon relevant Security Council resolutions.
United States · United States Congress · 24 April 1995
Condemns the bombing at the Alfred P. Murrah Federal Building in Oklahoma City, Oklahoma. Sends condolences to the families. Commends rescue and volunteer workers, law enforcement officials, and the President. Urges the President to use all necessary means to find and punish the perpetrators. Supports the President's and Attorney General's position that Federal prosecutors will seek the maximum penalty allowed by law, including the death penalty, for those responsible. Declares that the Senate will expeditiously approve legislation to strengthen the authority and resources of all Federal agencies involved in combating such acts of terrorism.
United States · United States Congress · 7 April 1995
Environmental Finance Act of 1995 - Directs the Administrator of the Environmental Protection Agency (EPA) to establish: (1) an Environmental Financial Advisory Board to provide expert advice on issues affecting the costs and financing of environmental activities at the Federal, State, and local levels; and (2) Environmental Finance Centers in institutions of higher education in each of the regions of the EPA. Authorizes the Centers to: (1) provide training of State and local officials; (2) publish materials relating to financing of environmental infrastructure; (3) conduct conferences and advisory panels on specific environmental finance issues; (4) establish information services; (5) generate case studies and reports; (6) develop surveys of financial issues and needs of State and local governments; (7) identify financial programs and alternative financing mechanisms for training purposes; (8) hold public meetings; and (9) collaborate and exchange information. Permits the Administrator to make grants to institutions of higher education to carry out the Center program. Authorizes appropriations.
United States · United States Congress · 7 April 1995
TABLE OF CONTENTS: Title I: Amendments of Internal Revenue Code of 1986 Subtitle A: Medical Care Savings Accounts Subtitle B: Expansion of COBRA Continuation Coverage Title II: Insurance Reform Subtitle A: Employer Insurance Protections Subtitle B: Guaranteeing Portability of Health Insurance for Individuals Subtitle C: Assuring Health Insurance Coverage for Uninsurable Individuals Health Insurance Portability and Guaranteed Renewability Act of 1995 - Title I: Amendments of Internal Revenue Code of 1986 - Subtitle A: Medical Care Savings Accounts - Amends the Internal Revenue Code (IRC) to provide for medical care savings benefits, under which a portion of a premium would be credited to a participating employee to pay for medical care and amounts remaining (if any) at the end of the year would be deposited to a medical care savings account (medical IRA). (Sec. 102) Defines a "medical care savings account" (MCSA) as a trust for the exclusive benefit of an individual and the individual's spouse and dependents and meeting certain requirements. Provides for the tax treatment of such accounts and their distributions. Treats custodial accounts as a trust if specified criteria are met. Amends various provisions of the IRC (relating to old-age, survivors, and disability insurance, hospital insurance, railroad retirement, unemployment taxes, and withholding) and the Social Security Act (relating to old-age, survivors, and disability insurance) to exclude from the definition of "wages" (or, in the case of provisions relating to railroad retirement, the definition of "compensation") any payment to or for the benefit of an employee if the payment is excludable from gross income. Amends the IRC to exempt MCSAs from provisions imposing a tax on certain prohibited transactions. Imposes a penalty for failure to file required report on a MCSA. (Sec. 103) Allows cafeteria plan flexible spending arrangements to be contributed to a MCSA. Subtitle B: Expansion of COBRA Continuation Coverage - Amends the IRC and the Employee Retirement Income Security Act of 1974 (ERISA) to exempt group health plans maintained by employers who all employ fewer than two (currently, 20) employees from continuation coverage requirements. Modifies requirements regarding the maximum required coverage period. Amends the Public Health Service Act (PHSA) to exempt group health plans maintained by employers who all employ fewer than four (currently, 20) employees from continuation coverage requirements. Modifies requirements regarding the maximum required coverage period. (Sec. 112) Amends the IRC, ERISA, and the PHSA to revise the type of continuation coverage required and general requirements for group health plan continuation coverage. Title II: Insurance Reform - Subtitle A: Employer Insurance Protections - Prohibits any health benefit insurer providing or offering a small group health plan from cancelling or not renewing except for specified reasons or refusing to provide coverage based solely on the nature of the employer's business or industry. Limits premium rate increases and variation (across and within business classes) in index rates. Allows an insurer to use industry as a case characteristic in establishing rates. (Sec. 202) Restricts preexisting condition limitations or exclusions. Requires insurers offering coverage to a small employer to offer coverage to all eligible employees of the small employer and their dependents. (Sec. 203) Amends the IRC to impose a penalty on the failure of an insurer or group health plan to meet the requirements of this subtitle. Subtitle B: Guaranteeing Portability of Health Insurance for Individuals - Declares that this subtitle applies only to health benefit plans delivered or issued to individuals in a State and does not apply to: (1) any employer-based plan; or (2) any eligible individual whose prior similar plan was provided by a State high risk pool, under titles XVIII (Medicare) and XIX (Medicaid) of the Social Security Act, or under another State or Federal program (unless the individual was previously covered as a State or Federal employee). (Sec. 212) Requires an insurer, if an eligible individual or family applies for an individual plan, to either offer or deny coverage to all eligible individuals applying on the application. Regulates preexisting condition exclusions or limitations. Requires an insurer to offer, to a dependent who would otherwise lose eligibility because of certain events, continuation coverage identical to that previously issued. (Sec. 213) Prohibits cancelling or not renewing plans except for specified reasons. Subtitle C: Assuring Health Insurance Coverage for Uninsurable Individuals - Requires each health insurer, health service organization, and health maintenance organization to participate in a high risk health insurance pool in the State in which it operates. Requires that the pool assure the availability of qualified health insurance to uninsurable individuals. Funds the pool by an assessment against such entities on a pro rata basis of lives covered in the State. Allows the assessment to be added by those entities to the costs of their health insurance or coverage. (Sec. 222) Outlines criteria for being considered: (1) uninsurable; and (2) eligible. (Sec. 224) Limits premiums established under the pool.
United States · United States Congress · 6 April 1995
Prostate Cancer Diagnosis and Treatment Act of 1995 - Amends title XVIII (Medicare) of the Social Security Act to provide for coverage of services for the early detection of prostate cancer and certain drug treatments for such cancer. Requires the Secretary of Health and Human Services to establish fee schedules for such services. Amends Federal law to cover such detection and treatment services for veterans as a preventive health service. Amends the Public Health Service Act to authorize appropriations for certain public health programs related to prostate cancer research and education. Directs the Administrator of the Agency for Health Care Policy and Research to: (1) conduct and support prostate cancer health services and screening and treatment procedures; and (2) provide for the development, periodic review, and updating of clinically relevant guidelines, standards of quality, performance measures, and medical review criteria.
United States · United States Congress · 5 April 1995
Calls for the President to condemn the brutal suppression of a crowd of protesters in Teheran on April 4, 1995, resulting in the death of as many as 150 people by the Iranian Government and to instruct the U.S. Ambassador to the United Nations to pursue the United Nations Security Council's condemnation of Iran.
United States · United States Congress · 30 March 1995
TABLE OF CONTENTS: Title I: Reductions in Government Overregulation Subtitle A: The Home Mortgage Process Subtitle B: Amendments to the Community Reinvestment Act of 1977 Subtitle C: Payment of Interest Act Title II: Streamlining Government Regulation Subtitle A: Eliminating Unnecessary Regulatory Requirements and Procedures Subtitle B: Eliminating Unnecessary Costs and Paperwork Burdens Subtitle C: Eliminating Unnecessary Reporting Requirements Subtitle D: Regulatory Micromanagement Title III: Regulatory Impact on Cost of Credit and Credit Availability Subtitle A: Lowering Compliance Costs to Promote Credit Availability Subtitle B: Disincentives to Risk-Taking Subtitle C: Miscellaneous Nonsupervisory Reforms Economic Growth and Regulatory Paperwork Reduction Act of 1995 - Title I: Reductions in Government Overregulation - Subtitle A: The Home Mortgage Process - Part I: Regulatory Simplification and Uniformity - Amends the Truth in Lending Act (TLA) and the Real Estate Settlement Procedures Act (RESPA) to require the Board of Governors of the Federal Reserve System (the Board) to: (1) eliminate, modify, or simplify disclosure requirements if such action results in uniformity with other statutory disclosure requirements relating to credit transactions; and (2) proscribe imposition of any disclosure requirement unless its effect is to eliminate, modify, or simplify any disclosure required under this Act. (Sec. 103) Exempts from TLA disclosure requirements transactions that the Board determines: (1) are not necessary to effectuate its purposes; or (2) do not provide a measurable benefit in the form of useful information or consumer protection. (Sec. 104) Amends RESPA to repeal requirements that: (1) a federally related mortgage lender disclose to a mortgage loan applicant the servicing of any such mortgages the lender has assigned, sold or transferred during the most recent three calendar years; and (2) a lender that does not service federally related loans similarly disclose any intention to assign, sell or transfer such servicing. Repeals the mandate for model disclosure statements. Excises from the definition of "federally related mortgage loan" any loan secured by a subordinate lien on residential real property (thereby removing second mortgages from RESPA requirements). Directs the Board to ensure that regulations pertaining to the business credit exemption from RESPA jurisdiction include all business credit exempted from the TLA. Part II: Clarifications to Reduce Costs and Regulatory Burdens - Amends the TLA to exempt from its disclosure requirements any credit transactions involving consumers with an annual earned income of more than $200,000 or having net assets in excess of $1,000,000 at the time of the transaction. (Sec. 112) Revises disclosure requirements for adjustable rate home mortgages to permit as an alternative to the currently required table illustration, a statement that a monthly payment may increase or decrease significantly due to annual percentage rate increases. Grants creditors the option of disclosing, in any variable interest rate residential mortgage transaction that is not an open end credit plan, either a statement that the monthly payment may change substantially, or an historical example illustrating the effects of interest rate changes implemented according to the loan program. (Sec. 113) Excludes from the determination of the finance charge for any consumer credit transaction fees imposed by third party closing agents (including settlement agents, attorneys, escrow and title companies) that are neither expressly required nor retained by the creditor (thereby exempting such amounts from TLA disclosure requirements). Exempts from the computation of a finance charge, if they are otherwise itemized and disclosed, certain: (1) taxes on security instruments or evidences of indebtedness; and (2) fees for preparation of loan-related documents and attending or conducting settlement. (Sec. 114) Exempts from the right of rescission certain refinancings or consolidations of debt that are secured by a lien on a consumer's principal dwelling. (Sec. 115) Permits finance charge disclosures for certain consumer credit transactions secured by real property or a dwelling to vary within an accuracy tolerance range of $100. Sets guidelines for per diem interest rate disclosures consumer credit transactions. (Sec. 116) Shields a creditor or assignee from liability in connection with disclosures of: (1) certain fees and charges; and (2) finance charges that fall within certain statutory tolerance limits. (Sec. 117) Modifies the guidelines delimiting an obligor's period of rescission to preclude a consumer from asserting rescission in any action after the earlier of: (1) expiration of the three-year period beginning on the transaction consummation date; or (2) the date of the sale of the property securing an extension of credit. (Sec. 118) Modifies assignee liability guidelines to provide that a violation is apparent on the face of the disclosure statement if the disclosure does not use the format required by law. Prescribes guidelines under which the servicer of a consumer obligation arising from a consumer credit transaction shall not be treated as the assignee of such obligation. (Sec. 119) Repeals the bona fide personal financial emergency condition placed upon exercise of the Board's authority to modify or waive rescission rights arising from a consumer credit transaction. Subtitle B: Amendments to the Community Reinvestment Act of 1977 - Amends the Community Reinvestment Act of 1977 (CRA) to prohibit the appropriate Federal regulatory agency, in the course of examining a financial institution, from imposing recordkeeping or reporting requirements that do not have the effect of eliminating, streamlining, or reducing regulatory burdens upon such institution. (Sec. 132) Exempts small-sized banks with total assets under $250 million from CRA jurisdiction. (Sec. 133) Prescribes guidelines under which each appropriate Federal regulatory agency shall: (1) publish its examination schedule; and (2) provide opportunity for community comment. Authorizes the agency to reconsider, upon request, the rating of an institution. (Sec. 134) Defines a "special purpose bank" as one that does not generally accept deposits from the public in amounts less than $100,000, such as a credit card bank or a trust bank. Mandates that, in assessing the record of special purpose banks in meeting community credit needs, the appropriate Federal regulatory agency: (1) take into consideration the nature of the businesses of such banks; and (2) develop standards under which they may be deemed to comply with CRA requirements consistent with the specific nature of such businesses. Requires the agency, in assessing any financial institution, to give positive consideration to investments and loans made by such institutions that provide benefits to distressed communities, regardless of whether or not the communities are located within the service area of the financial institution. Subtitle C: Payment of Interest Act - Amends the Federal Deposit Insurance Corporation Improvement Act of 1991 to retitle the Truth in Savings Act as the "Payment of Interest Act". Repeals: (1) the finding of the Congress that uniform disclosure of interest and fees charged on consumer deposit accounts strengthens consumer ability to make informed decisions and verify deposit accounts; and (2) the stated purpose of the Truth in Savings Act requiring clear, uniform disclosure of interest rates payable on deposit accounts and the fees assessable against them. Declares instead that: (1) the Truth in Savings Act created unnecessary paperwork, compliance, and liability burdens for depository institutions without enhancing consumer ability to make informed decisions; and (2) the purpose of the Payment of Interest Act is to repeal unnecessary disclosure requirements while retaining the requirement that interest be paid on the full amount of principal in the account for each day of the stated calculation period at the interest rate disclosed by the depository institution. Repeals: (1) the uniform disclosure requirements for interest rates and fees, including annual percentage yields, minimum account and time requirements, and interest penalties; and (2) the proscription against misleading descriptions of free or no-cost accounts, and misleading or inaccurate advertisements. Repeals current law that a depository institution: (1) maintain and distribute a schedule of fees, interest rates, and account restrictions written in readily understood format for each class of accounts being offered; (2) notify account holders of any changes in the schedule; and (3) clearly and conspicuously disclose with each periodic statement to account holders the annual percentage yield earned, the amount of interest earned, the amount of fees or charges imposed, and the number of days in the reporting period. Repeals civil liability guidelines governing class actions. Modifies depository institution liability regarding: (1) notification and adjustment for errors; and (2) continuing and subsequent depository institution failure to pay interest. Title II: Streamlining Government Regulation - Subtitle A: Eliminating Unnecessary Regulatory Requirements and Procedures - Amends the Bank Holding Company Act of 1956 (BHCA) to set forth financial and managerial criteria under which an acquisition of shares by a bank holding company, or a merger or consolidation between registered bank holding companies, shall be deemed to be approved. (Current law requires prior Board approval). (Sec. 202) Amends the Federal Deposit Insurance Act (FDIA) to set forth conditions under which prior approval is not required for any merger, consolidation, asset acquisition, or liabilities assumption, involving only insured depository institutions subsidiaries of the same depository institution holding company. (Sec. 203) Permits any insured depository institution to participate in optional conversion transactions between members of the Bank Insurance Fund and the Savings Association Insurance Fund without the prior written approval of the responsible agency. Repeals: (1) agency guidelines for approval; and (2) the prohibition against transactions which result in the transfer from one Federal deposit insurance fund to the other. Makes the sole criterion for authorization of a conversion transaction without approval that the acquiring, assuming, or resulting depository institution will meet all applicable capital requirements upon consummation of the transaction. (Sec. 204) Amends the Revised Statutes, the Federal Reserve Act (FRA), and the FDIA to delineate conditions under which prior approval is not required for banks under their purview to establish and operate a branch or seasonal agency. (Sec. 205) Amends the Home Owners' Loan Act to remove from its regulatory purview a bank holding company subject to the BHCA. Revises the definition of "savings and loan holding company" to exclude a bank holding company under BHCA jurisdiction. Provides that acquisition of a savings association by a bank holding company under BHCA jurisdiction obviates approval by the Director of the Office of Thrift Supervision. (Sec. 206) Amends the Revised Statutes to repeal the aggregate minimum capital requirements imposed upon a national banking association and its branches. (Sec. 207) Amends the Revised Statutes and the FDIA to exclude from the definition of "branch" an automated teller machine or remote service unit (thus exempting those entities from the approval requirements of such Acts). (Sec. 208) Amends the FRA to prescribe regulatory approval guidelines for investments in bank premises by well capitalized and well managed banks. (Sec. 209) Amends the BHCA to repeal the provision that shares transferred by a bank holding company to a transferee under its control are deemed to be under the holding company's control (thus subject to specified approval requirements). (Sec. 210) Amends the FDIA to repeal the requirement that the appropriate Federal banking agency be notified prior to the appointment or addition of a new director or senior executive officer if the affected insured depository institution or depository institution holding company: (1) has been chartered less than two years; or (2) has undergone a change in control within the preceding two years. Retains such prior notice requirement for troubled insured depository institutions or depository institution holding companies only if the agency determines that prior notice is appropriate. Extends from 30 days up to 90 days the period during which, following notice, the agency may disapprove board of directors or senior executive officer appointments by such institutions or companies. (Sec. 211) Amends the Depository Institutions Management Interlocks Act to revise the prohibition on dual service of management officials to raise the asset-size thresholds of the depository institutions or depository holding companies to which the prohibition applies. Authorizes Federal banking regulatory agencies to adjust such thresholds for inflation. Repeals the 20-year exemption from the dual service prohibition for certain grandfathered directors and management officials (thus permitting them to continue their dual service permanently). Repeals the requirement that each appropriate Federal depository institutions regulatory agency: (1) review according to prescribed criteria the petition of a management official to serve in more than one position (interlocking directorate); and (2) determine whether continuation of such dual service produces an anti-competitive effect. Repeals the criteria governing regulatory approval of management interlocks. (Sec. 212) Amends the FRA to exempt from its proscription against preferential terms in credit extensions to executive officers, directors, or principal shareholders (insider lending) any credit extensions made pursuant to a benefit or compensation program widely available to employees of the member bank. Includes such credit extensions in the Board's authority to waive the proscription against such preferential terms for certain executive officers and directors of controlling nonbank affiliates. Repeals the reporting requirement that: (1) an executive officer of a member bank indebted to another bank submit a written report of such debt to the member bank's board of directors; and (2) a member bank include in its statutory condition of report all loans made since its previous report. Amends the FDIA to repeal Federal banking agency authority to require banks to disclose credit extensions made to their executive officers or principal shareholders. Amends the Bank Holding Company Act Amendments of 1970 to repeal the requirement that bank executive officers and stockholders who own more than a ten percent controlling interest report to the bank's board of directors regarding any credit extensions made to them by a bank maintaining a correspondent account. (Sec. 213) Amends the Federal Financial Institutions Examination Council Act of 1978 to abolish the Appraisal Subcommittee. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to transfer the functions of the Appraisal Subcommittee to the Federal Financial Institutions Examination Council. (Sec. 214) Amends the FDIA to exclude automated teller machines and specified bank branches from the definition of "banking branch" (thus exempting them from Federal bank closure notification requirements). Makes such exemption retroactive to the effective date of the Federal Deposit Insurance Corporation Improvement Act of 1991. (Sec. 215) Amends the International Banking Act of 1978 to replace the Board's authority to order a foreign bank to terminate its branch activities in the United States with authority to recommend to the appropriate Federal or State bank official that such branch's license be terminated. Revises the examination guidelines for foreign banks to: (1) direct the Board to rely upon reports of examinations made by the Comptroller of the Currency, the Federal Deposit Insurance Corporation (FDIC), and State bank supervisors (currently the Board coordinates such examinations); and (2) subject a foreign bank to the same on-site examination schedules and cost-of-examination assessments as are imposed upon U.S. banks. Modifies procedural guidelines for Board review of foreign bank applications to establish a U.S. presence. Subtitle B: Eliminating Unnecessary Costs and Paperwork Burdens - Amends the FDIA to: (1) expand from 18 months to 24 months the discretionary timeframe for mandatory on-site examinations of certain small-sized depository institutions; and (2) increase from $175 million to $250 million the asset-size ceiling on the meaning of "small depository institution" which Federal banking agencies may in their discretion determine for examination purposes. (Sec. 222) Amends the Right to Financial Privacy Act to require a Government authority to reimburse a financial institution for assembling or providing financial records pertaining to corporate customers. (Sec. 223) Directs the Federal Financial Institutions Examinations Council, and each Federal banking agency represented on it, to review and report to the Congress on Federal banking regulations at least every ten years to identify unnecessary regulatory requirements imposed upon insured depository institutions.Requires the Council or the pertinent banking agency to eliminate unnecessary regulations to the extent appropriate. Subtitle C: Eliminating Unnecessary Reporting Requirements - Amends the Community Reinvestment Act of 1977 (CRA) to prohibit the imposition upon financial institutions of: (1) recordkeeping requirements that do not result in eliminating, streamlining or reducing regulatory burdens upon the institutions; or (2) loan data collection and reporting requirements. Prohibits public disclosure of loan data by any Federal financial supervisory agency. (Sec. 232) Amends the Federal Home Loan Bank Act (FHLBA) to exempt financial institutions meeting specified criteria from its community support requirements. (Sec. 233) Amends Federal monetary law to: (1) reduce mandatory identification procedures for monetary transactions; and (2) repeal identification reporting requirements regarding certain financial institution customers of depository institutions. (Sec. 235) Amends the Federal Deposit Insurance Corporation Improvement Act of 1991 to repeal the mandate that: (1) insured depository institutions include information on small businesses and small farm lending in their annual reports of condition; and (2) the Board publish annually information on credit availability to small businesses. (Sec. 236) Amends the Home Mortgage Disclosure Act of 1975 to increase from $10 million to $50 million the maximum asset-size of institutions exempt from its purview. Authorizes the Board to exempt from the Act's disclosure requirements institutions whose asset-size is at least $50,000000 if the burden of compliance outweighs the usefulness of the requisite information. Declares that a depository institution shall be deemed to have satisfied the public availability requirements with respect to its mortgage loan transactions if its branch offices provide notice of the availability upon request of such information from the home office. (Sec. 237) Amends FDIA guidelines governing a change in control of insured depository institutions to repeal mandatory reporting by financial institutions (or affiliates) of any loans secured by 25 percent or more of any class of shares of an insured depository institution (stock loans). Subtitle D: Regulatory Micromanagement - Amends the Revised Statutes regarding national banking association director qualifications to extend to all such associations the Comptroller of the Currency's authority to waive citizenship requirements for a minority of the association's directors. Allows the Comptroller to waive State residency requirements. (Sec. 242) Sets a deadline by which each Federal banking agency and the National Credit Union Administration Board must eliminate regulations which require insured depository institutions and credit unions to produce unnecessary internal written policies. (Sec. 243) Amends the FDIA to increase the number of members of the FDIC Board of Directors from five to six. Mandates that one director be appointed from among individuals serving as State bank commissioners or supervisors. Limits such appointment to a single two-year term served without compensation. Limits eligibility to serve as Chairperson or Vice Chairperson of the FDIC Board to residentially appointed directors. Title III: Regulatory Impact on Cost of Credit and Credit Availability - Subtitle A: Lowering Compliance Costs to Promote Credit Availability - Amends FDIA guidelines for improved accountability in financial management to: (1) eliminate the use of an independent public accountant to detect and report violations of law by an insured depository institution or depository institution holding company; (2) alter independent audit committee composition from one composed entirely of outside directors independent of institution management, to one composed of a majority of such independent directors; and (3) require each appropriate Federal banking agency to exempt from the independent audit committee requirement any insured depository institution that has encountered hardships in retaining competent directors on such committee. (Sec. 302) Amends the Equal Credit Opportunity Act and the Fair Housing Act to prohibit an enforcing agency from acquiring or using reports generated by any creditor-conducted review of lending operations to determine compliance with such Acts (thereby encouraging creditors to self-test for compliance with the Acts). (Sec. 303) Amends the Home Owners' Loan Act to revise the exemption from certain non-qualified thrift lender restrictions of specialized savings associations serving transient military personnel to repeal a specified requirement with respect to the association's savings and loan holding company. (Sec. 304) Repeals Federal savings association (association) authority to issue credit cards or engage in credit card operations. Permits an association to deal in credit card loans or education loans without being subject to a percentage-of-assets limitation. Raises from ten percent to 20 percent the percentage-of-assets-limitations ceiling placed upon commercial and agricultural loans offered by an association. Restricts loan amounts exceeding ten percent of an association's total assets to loans made to small businesses. Repeals the five-percent-of-assets loan restriction upon education loans offered by an association. Expands the scope of "qualified thrift lender" to include a domestic building and loan association. Redefines "qualified thrift investment" to cover, as assets includible without limit, educational loans, small business loans, and loans made through credit cards or credit card accounts. Removes the ten-percent-of-assets loan restriction placed upon certain personal, family, household or education loans. (Sec. 305) Amends the FRA, with respect to regulations governing payment system risk or intraday credit, to: (1) require them to include net debit caps appropriate to the credit quality of each Federal Home Loan (FHL) Bank (together with normal fees for daylight overdrafts); or (2) exempt FHL Banks from such regulations. (Sec. 306) Amends the FHLBA to: (1) revise the location requirements for FHL Banks to provide for membership-based-on-convenience; (2) mandate that the FHL Banks contract annually for an annual audit with a single auditor; and (3) preclude the Board from participation in any audit or audit contracting process (other than to establish contract and accounting requirements). (Sec. 308) Amends the BHCA to lift the growth cap restrictions placed upon banks controlled by certain bank holding companies not statutorily treated as bank holding companies. Subtitle B: Disincentives to Risk-Taking - Amends the FDIA and the Federal Credit Union Act to: (1) reinstate the requirement of a showing of irreparable and immediate harm as a prerequisite to attachment of assets and other injunctive relief when the FDIC or the National Credit Union Administration Board acts as conservator or receiver; and (2) confer oversight authority to prohibit removal of assets in cease and desist proceedings if it results in immediate and irreparable harm. Subtitle C: Miscellaneous Nonsupervisory Reforms - Amends the TLA to hold a cardholder liable for unauthorized use of a credit card if the liability exceeds $50 and the cardholder fails to timely notify the card issuer of any unauthorized transaction that appears on the account statement. Amends the Electronic Fund Transfer Act to raise from $50 to $500 a cardholder's liability for unauthorized electronic fund transfers if the cardholder substantially contributed to the unauthorized transfer, including writing on or keeping with the card or other means of access a personal identification or other security code.
United States · United States Congress · 30 March 1995
D'Oench Duhme Reform Act - Amends the Federal Deposit Insurance Corporation Act to revise its D'Oench Duhme provisions which render unenforceable against the Federal Deposit Insurance Corporation (FDIC) in its capacity as receiver of an insured depository institution any secret side agreements not recorded in the institution's records. Declares that an agreement against the interests of the FDIC in its capacity as receiver is not enforceable against it unless the agreement is in writing and was executed by the insured depository institution in the ordinary course of business. Declares that no court may prohibit the adjudication of specified types of claims and defenses against the FDIC in its capacity as receiver of an insured depository institution, including certain intentional tort claims and other claims that do not relate to specific assets acquired by the FDIC. Declares that, except as otherwise provided by Federal or State law, the FDIC may not defeat a claim related to an asset by demonstrating that it acquired the asset as a holder in due course without actual knowledge of the claim, unless it also demonstrates that the asset was not acquired upon its appointment as conservator or receiver or as part of a purchase and assumption transaction. Excepts from this provision vendor agreements for the sale or purchase of goods or services delivered to an insured depository institution before the appointment of a receiver for such institution.
United States · United States Congress · 28 March 1995
Ryan White CARE Reauthorization Act of 1995 - Amends title XXVI (HIV Health Care Services Program) of the Public Health Service Act regarding emergency relief for areas with a substantial need for services. Changes requirements for grants to metropolitan areas having large numbers of cases of acquired immune deficiency syndrome (AIDS). Modifies the composition, chairperson requirements, and duties of local human immunodeficiency virus (HIV) health services planning councils. Revises requirements for supplemental grants. Alters the method for determining the amount of each grant, the mandated uses of the grants, and application requirements. Allows a single application for initial and supplemental grants and authorizes both to be made as a single grant. Mandates (currently, allows) technical assistance. Authorizes planning grants. Amends provisions relating to the care grant program to change the uses of HIV care consortia grants and consortium application requirements. Mandates establishment of a recommended minimum formulary of pharmaceutical drug therapies approved by the Food and Drug Administration. Revises: (1) State duties in using grant funds to provide treatments; (2) State application requirements; and (3) planning, evaluation, and administration requirements. Mandates (currently, allows) technical assistance. Mandates grievance procedures to address allegations of egregious violations of title XXVI. Requires coordination of the planning and implementation of Federal HIV programs by the Health Resources and Services Administration, the Centers for Disease Control and Prevention, and the Substance Abuse and Mental Health Services Administration. Amends early intervention services provisions to: (1) require grant recipients to provide a continuum of primary care; and (2) modify other requirements regarding uses of grant funds. Authorizes planning grants to entities that are not direct primary care providers to enable them to provide HIV primary care services. Authorizes appropriations for early intervention grants. Replaces provisions mandating demonstration grants for research and services for pediatric AIDS patients with provisions mandating grants for primary care for out-patient care and support services to children, youth, women with HIV disease, and the families of those individuals and for facilitating the participation of such individuals in research. Requires procedures for the protection of human subjects. Prohibits conditioning services on research participation. Authorizes appropriations. Reserves a specified portion of the amounts appropriated under other parts of title XXVI to administer a special projects of national significance program to award direct grants for special programs for the care and treatment of individuals with HIV disease. Repeals current provisions relating to special projects of national significance. Replaces provisions of the Public Health Service Act authorizing grants and contracts to train the faculty of specified types of health professions schools regarding providing for the health care needs of individuals with HIV disease with provisions authorizing grants and contracts to train health personnel, including community providers, in the diagnosis, treatment, and prevention of HIV infection and disease. Authorizes appropriations. (Sec. 4) Amends title XXVI provisions relating to emergency relief for areas with a substantial need for services to modify the formula for determining the amount of grants. (Sec. 5) Amends provisions relating to the care grant program to change the formula regarding minimum grant allotments. (Sec. 6) Authorizes appropriations to make grants under title XXVI provisions relating to: (1) emergency relief for areas with a substantial need for services; and (2) the care grant program. Mandates development and implementation of a methodology for adjusting the percentages allocated to those parts. Repeals existing authorizations of appropriations for those parts.
United States · United States Congress · 28 March 1995
State Medicaid Savings Incentive Act of 1995 - Amends title XIX (Medicaid) of the Social Security Act to authorize incentive payments to States that achieve a rate of growth for Medicaid expenditures for a fiscal year which is less than a baseline rate for such year determined by the Secretary of Health and Human Services. Makes an incentive payment equal to the amount that is 20 percent of the difference between the amount that the Federal Government would have paid if State expenditures had increased by the baseline rate and the amount paid using the actual growth rate.
United States · United States Congress · 27 March 1995
Iran Foreign Sanctions Act of 1995 - Directs the President to impose certain economic sanctions against foreign persons who, with requisite knowledge, engage in trade with Iran. Sets forth such sanctions, including prohibition, with specified exceptions, of U.S. Government procurement from such persons or issuance of export licenses to them. Waives the requirements of this Act if the President certifies to the appropriate congressional committees that Iran has: (1) substantially improved its adherence to internationally recognized standards of human rights; (2) ceased its efforts to acquire a nuclear explosive device; and (3) ceased support for acts of international terrorism. Requires the President to transmit a specified report to appropriate congressional committees.
United States · United States Congress · 23 March 1995
Superfund Recycling Equity Act of 1995 - Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to absolve persons (other than owners or operators) who arranged for the recycling of recyclable material from liability for environmental response actions. Excludes from the definition of "recyclable material" any material that contains polychlorinated biphenyls in excess of 50 parts per million or any Federal standard promulgated after this Act's enactment. Considers transactions involving scrap paper, plastic, glass, textiles, rubber (other than whole tires), or metal or spent batteries to be arranging for recycling if the person arranging the transaction can demonstrate that: (1) the recyclable material met a commercial specification grade and a market existed for the material; (2) a substantial portion of the material was made available for use as a feedstock for the manufacture of a new saleable product; (3) the material (or product to be made from the material) could have been a replacement for a virgin raw material; (4) in the case of transactions occurring no later than 90 days after this Act's enactment, the person exercised reasonable care to determine that the consuming facility was in compliance with Federal, State, or local environmental laws or regulations; (5) in the case of transactions involving scrap metal that occurred after the effective date of a regulation or standard associated with scrap metal recycling promulgated under the Solid Waste Disposal Act, the person was in compliance with such regulation or standard and did not melt the metal prior to the transaction; and (6) in the case of transactions involving batteries, the person did not recover the valuable components of the battery and the person was in compliance with Federal environmental regulations or standards regarding battery recycling. Makes the exemptions from liability under this Act inapplicable if the person: (1) had an objectively reasonable basis to believe at the time of the recycling transaction that the recyclable material would not be recycled or would be burned as fuel or for energy recovery or incineration or that, in the case of transactions occurring no later than 90 days after this Act's enactment, the consuming facility was not in compliance with Federal, State, or local environmental laws or regulations; (2) added hazardous substances to the material for purposes other than processing for recycling; or (3) failed to exercise reasonable care with respect to the management of the material.
United States · United States Congress · 23 March 1995
Calls upon the President to express strong U.S. opposition to Turkey's invasion of northern Iraq and urges the United States, at the United Nations Security Council, to condemn Turkey's illegal act of aggression and bring about an immediate and unconditional withdrawal. Denounces Turkey's consistent pattern of human rights violations against ethnic Kurds and condemns acts of terror by PKK forces against Turkish civilian and military targets. Supports the maintenance of Operation Provide Comfort and the continuation of other non-governmental humanitarian assistance for the Kurds of northern Iraq.
United States · United States Congress · 20 March 1995
Turkish Human Rights Compliance Act - Requires the President, from the funds available for FY 1996 for assistance for Turkey under the Foreign Assistance Act of 1961 and the Arms Export Control Act, to withhold, first from grant assistance and then from loan assistance, $500,000 for each day that Turkey does not meet the conditions of this Act. Authorizes a presidential waiver of this Act if it is in the national security interest. Considers conditions to be met when the President certifies to the Congress that the Turkish Government: (1) allows free monitoring of the human rights situation within its territory by human rights monitoring organizations; (2) recognizes the civil, cultural, and human rights of its Kurdish citizens, ceases military operations against Kurdish civilians, and takes steps toward a peaceful resolution of the Kurdish issue; (3) takes steps toward the total withdrawal of military forces from Cyprus and supports a settlement recognizing the sovereignty and independence of Cyprus, with a constitutional democracy; (4) removes its blockade of U.S. and international assistance to Armenia; and (5) removes official restrictions on Christian churches and schools and offers sufficient protection against acts of violence, harassment, and vandalism in connection with the clergy and such churches and schools.
United States · United States Congress · 8 March 1995
Expresses the sense of the Senate that: (1) obstetrician-gynecologists should be included as primary care providers for women in Federal laws relating to the provision of health care; and (2) legislative proposals that define primary care should include primary care services performed by obstetrician-gynecologists in such definition.
United States · United States Congress · 6 March 1995
Expresses the sense of the Congress that the President should promptly indicate that the United States will welcome a private visit by Taiwanese President Lee Teng-hui to his alma mater, Cornell University, and will welcome a transit stop by President Lee in Anchorage, Alaska, to attend the USA-ROC Economic Council Conference.
United States · United States Congress · 23 February 1995
Directs the Secretary of Veterans Affairs to pay to the appropriate State or local political entity a $150 burial plot or interment allowance for the burial of any veteran who is: (1) eligible for burial in a national cemetery; and (2) buried in a cemetery that is used solely for the interment of persons so eligible and that is owned by such State or political entity.
United States · United States Congress · 22 February 1995
Amends the Immigration and Nationality Act to redefine legitimate or illegitimate children as children born in or out of wedlock, respectively, for purposes of such Act.
United States · United States Congress · 16 February 1995
Limited Purpose Bank Growth Cap Relief Act - Amends the Bank Holding Company Act of 1956 to repeal the seven-percent limitation placed upon the annual asset growth of certain companies that are not statutorily treated as bank holding companies.
United States · United States Congress · 16 February 1995
Amends the Internal Revenue Code with respect to the corporate income tax exclusion of contributions to the capital of the taxpayer. Includes as a qualifying contribution any amount of money or property received by a regulated public utility which provides water or sewage disposal services that: (1) is a contribution in aid of construction; (2) meets certain expenditure requirements; and (3) is not included in the taxpayer's rate base. Excludes amounts paid as service charges for starting or stopping services. Determines the depreciation deduction for such property by using the straight line method and provides for a 25-year recovery period.
United States · United States Congress · 16 February 1995
1997 Franklin Delano Roosevelt Commemorative Coin Act - Directs the Secretary of the Treasury to issue commemorative half-dollar silver coins whose obverse side shall bear a likeness of Franklin Delano Roosevelt, and whose reverse side shall be emblematic of the Franklin Delano Roosevelt Memorial in Washington, D.C. Mandates that the design for the coins shall be: (1) selected by the Secretary after consultation with the Franklin Delano Roosevelt Memorial Commission and the Commission of Fine Arts; and (2) reviewed by the Citizens Commemorative Coin Advisory Committee. Declares that: (1) the coins shall be struck at the U.S. Bullion Depository at West Point; and (2) may be issued only from January 1, 1997, to December 31, 1997. Requires the Secretary to distribute proceeds from surcharges in equal allocations to: (1) the National Park Foundation Restricted Account for the Franklin Delano Roosevelt Memorial; and (2) the National Park Service Restricted Construction Account for the Franklin Delano Roosevelt Memorial.
United States · United States Congress · 16 February 1995
Amends the Internal Revenue Code to restore the business meal expense deduction to 80 percent (currently 50 percent) for individuals subject to the hours of service limitations of the Department of Transportation.
United States · United States Congress · 15 February 1995
Authorizes the Alpha Phi Alpha Fraternity to establish a memorial to Martin Luther King, Jr., in the District of Columbia and its environs. Prohibits the United States from paying any expense of establishing the memorial.
United States · United States Congress · 15 February 1995
Northern Ireland Fair Employment Practices Act - Prohibits an article from being imported into the United States from Northern Ireland unless documentation is presented at the time of entry indicating that the enterprise which manufactured or assembled such article complied at the time of manufacture with certain fair employment principles (such as freedom from religious discrimination). Bases such principles on the MacBride Principles, a nine-point set of guidelines for fair employment in Northern Ireland. Requires any U.S. person who has a branch or office in Northern Ireland or who controls an enterprise in Northern Ireland in which more than 20 people are employed to insure implementation of such employment principles and compliance with this Act. Authorizes the President to waive the requirements of this Act in the interest of national security.
United States · United States Congress · 15 February 1995
TABLE OF CONTENTS: Title I: Bilateral Economic Assistance Title II: Security Assistance and Related Programs Title III: Trade, Investment and Export Promotion Title IV: International Financial Institutions Title V: Middle East Title VI: Europe and the New Independent States Title VII: Special Authorities Title VIII: Reports, Limitations, and General Provisions Chapter A: Reporting Requirements Chapter B: Limitations on Assistance Chapter C: Administrative Provisions International Partnership and Prosperity Act of 1995 - Title I: Bilateral Economic Assistance - Authorizes the President to provide bilateral economic assistance for the following purposes: (1) to promote economic reforms, conditions, and institutions which contribute to the transition to free markets and democracy; (2) to meet urgent disaster and humanitarian needs; and (3) to control transnational threats. Requires: (1) U.S. assistance policy and programs to take into consideration a nation's commitment to free market principles; and (2) U.S. assistance to contribute to the strengthening of institutions and organizations which expand political freedom and civil liberty. (Sec. 102) Authorizes the President to make voluntary contributions on a grant basis to international organizations and programs administered by such organizations. Prohibits funds under this section from being made available for programs for Iran, Iraq, Libya, Cuba, North Korea, or Burma. Directs the Secretary of State to report to specified congressional committees on: (1) the budgets and accounts of all international organizations receiving payments of funds under this section; and (2) the amount of funds expended by each international organization or program, including the amount contributed by the United States. Earmarks funding to carry out this section. (Sec. 103) Authorizes the President to provide, and earmarks funding for, assistance to alleviate human suffering caused by man- made and natural disasters. (Sec. 104) Earmarks funding for: (1) migration and refugee assistance, including a specified amount for refugees resettling in Israel; and (2) Peace Corps activities. (Sec. 106) Authorizes appropriations to carry out this title. Title II: Security Assistance and Related Programs - Permits U.S. security assistance to be provided only to: (1) enhance the military capabilities of a friendly nation to meet legitimate self- defense and security needs; (2) strengthen such capabilities to permit effective participation in collective security or peacekeeping activities; (3) support the efforts of a foreign government to combat mutual, transational threats; (4) strengthen civilian and military relations consistent with democratic principles and with emphasis on improving military standards of professionalism; (5) promote self- defense and defense cooperation with U.S. allies and friendly nations through the acquisition of U.S. defense articles and services; and (6) support the transition to democracy. (Sec. 202) Authorizes the President to furnish security assistance to any eligible and friendly country by: (1) acquiring from any source and providing any defense article or service; (2) assigning or detailing members of the armed forces and other personnel to perform noncombatant duties; or (3) transferring funds to meet obligations of the recipient for payments for sales under the Arms Export Control Act. (Sec. 203) Sets forth conditions for eligibility to receive defense articles, services, or related training. (Sec. 204) Authorizes the President to furnish military education and training to foreign military and civilian personnel. Earmarks funding for such training, including a specified amount for programs in Lithuania, Estonia, Latvia, Poland, Hungary, the Czech Republic, and Slovakia. (Sec. 205) Authorizes the President to furnish assistance to friendly countries and international organizations for peacekeeping operations in furtherance of U.S. national security interests. Permits such assistance to include reimbursement to the Department of Defense for expenses incurred for noncombatant activities under the United Nations Participation Act. Limits such reimbursement to $10 million. Prohibits the use of funds to train, equip, or support U.S. military personnel serving under United Nations command. Earmarks funding to carry out this section, including a specified amount to support a joint Baltic peacekeeping battalion. (Sec. 206) Authorizes the President to provide antiterrorism assistance to foreign governments. (Sec. 207) Permits the President to transfer excess defense articles to: (1) member countries of the North Atlantic Treaty Organization (NATO) which are eligible for U.S. security assistance and are integrated into NATO's military structure; (2) major non-NATO allies on the south and southeastern flank of NATO which are eligible for such assistance; (3) Latvia, Lithuania, Estonia, Poland, Hungary, the Czech Republic, and Slovakia; and (4) Latin American or Caribbean countries with democratic governments that are major drug producing or transit countries. Authorizes the transfer of nonlethal excess defense articles to other eligible countries, as necessary. Requires prior congressional notification for transfers of excess defense articles. (Sec. 208) Authorizes the President, after reporting to the Congress, to direct the drawdown of defense articles and services and military education and training for specified emergency or humanitarian purposes. Limits the aggregate value per fiscal year of articles, services, and training provided. (Sec. 209) Authorizes the President to assign members of the armed forces to a foreign country to: (1) provide equipment and services case management, training management, program monitoring, evaluation and planning of the host government's military capabilities and requirements, administrative support, and liaison functions; and (2) promote defense cooperation measures. (Sec. 210) Authorizes appropriations to carry out this title, earmarking an amount for the cost of direct and guaranteed loans under credit sales provisions of the Arms Export Control Act. Title III: Trade, Investment and Export Promotion - Requires U.S. assistance to be provided to expand American job, trade, and investment opportunities abroad. Provides that specified provisions of the Foreign Assistance Act of 1961 that deal with the Overseas Private Investment Corporation (OPIC) shall remain in effect. Consolidates the programs of the Trade and Development Agency with those of OPIC. Authorizes appropriations for: (1) the subsidy cost of OPIC direct loans, guarantees, and administrative expenses; and (2) such consolidation. Title IV: International Financial Institutions - Authorizes appropriations to fulfill obligations to international financial institutions. (Sec. 402) Provides that the Enterprise for the Americas Initiative (under the Foreign Assistance Act of 1961) shall remain in effect. Title V: Middle East - Authorizes appropriations for: (1) Israel and Egypt; and (2) fulfilling conditions of agreements between Israel and the Palestine Liberation Organization and Israel and Jordan. (Sec. 504) Deems a provision of the Foreign Assistance Act of 1961 relating to loan guarantees for Israel to remain in effect. Title VI: Europe and the New Independent States - Authorizes appropriations to carry out programs in Eastern Europe and the Baltics. (Sec. 603) Authorizes appropriations to carry out specified activities in the new independent states and earmarks specified amounts for Ukraine, Armenia, and Georgia and for joint law enforcement and training activities. (Sec. 604) Prohibits funds from being made available to Russia if the Russian Government directs or supports any action which violates the territorial integrity or national sovereignty of any other state. Exempts humanitarian assistance from such prohibition. Directs the Secretary to report annually to the Congress on any steps taken by a new independent state in violation of the territorial integrity or national sovereignty of any other state. (Sec. 605) Requires assistance programs under this title to be carried out exclusively on a bilateral basis. Title VII: Special Authorities - Authorizes the President to use funds made available under this Act to provide for unanticipated contingencies subject to fiscal year limitations and advance reporting requirements. (Sec. 702) Provides for the transfer of funds between accounts subject to certain limitations and advance congressional notification. (Sec. 703) Authorizes the President to waive certain restrictions in this Act or the Arms Export Control Act to authorize the furnishing of foreign assistance if it is in the national security interest. Limits amounts that may be made available. Title VIII: Reports, Limitations, and General Provisions - Chapter A: Reporting Requirements - Directs the Secretary to report annually to the Speaker of the House and specified congressional committees on human rights practices of countries that receive assistance under this Act or are members of the United Nations. (Sec. 802) Requires the Secretary to submit to the Senate Committee on Foreign Relations a report on international narcotics control that is the same as an existing report required under the Foreign Assistance Act of 1961. (Sec. 803) Sets forth provisions regarding: (1) congressional notification of program changes; and (2) an annual allocation report by the President regarding countries and organizations receiving assistance. Chapter B: Limitations on Assistance - Makes ineligible for foreign assistance any country: (1) that is a communist country; (2) that engages in gross violations of human rights; (3) that has expropriated property or nullified contracts with U.S. citizens and has not provided compensation or submitted the dispute to international arbitration within a specified time period; (4) whose elected head of government is deposed by military coup unless a democratically-elected government has taken office subsequent to the coup; (5) whose government provides support for international terrorism; (6) that is a major illicit drug-producing or transit country; or (7) that is more than one year in arrears to the U.S. Government on a payment of interest or principal on a loan made or credit extended under this Act, the Arms Export Control Act, or the Foreign Assistance Act of 1961. Exempts from such prohibition assistance that is in the national security interest, for alleviation of suffering resulting from a disaster, or for migration and refugee assistance, provided the President reports in advance to specified congressional committees. Sets forth provisions regarding the listing of communist and terrorist countries. Establishes additional restrictions on assistance under other specified Acts to human rights violators, terrorist countries, and major illicit drug-producing and transit countries. Chapter C: Administrative Provisions - Subchapter 1: Procurement - Permits funds to be made available for programs under this Act for procurement only in the United States, the recipient country, or developing countries. Lists conditions under which procurement may be made from other countries. (Sec. 822) Provides that ocean transportation between foreign countries of articles purchased with foreign currencies derived from funds made available under this Act, the Agricultural Trade Development and Assistance Act of 1954, or predecessor Acts and transfers of fresh fruit under this Act shall not be governed by the Merchant Marine Act, 1936 or any other law relating to the ocean transportation of commodities on U.S. flag vessels. Authorizes funding under this Act to be used to make grants to recipients or otherwise pay any differential that exists between U.S. and foreign flag vessel charter or freight rates. (Sec. 823) Sets forth provisions regarding the retention, transfer, or use of articles procured to carry out this Act. Subchapter 2: Inter-Agency Authorities - Sets forth provisions regarding the allocation and reimbursement of funds to Government agencies for providing foreign assistance. (Sec. 832) Authorizes Government agencies to furnish articles and services on an advance-of-funds or reimbursement basis to friendly countries and international and nongovernmental organizations. Subchapter 3: General Administration - Sets forth provisions regarding: (1) general assistance authorities, including conditions of assistance; (2) health and accident insurance for foreign employees of Government agencies or assistance programs and conditions under which alien participants in assistance programs may be admitted to the United States; (3) guarantees; (4) administrative uses of funds; and (5) termination expenses. Subchapter 4: Personnel - Sets forth provisions regarding: (1) employment of personnel and details of personnel to foreign governments and international organizations to carry out this Act; and (2) offices abroad. Subchapter 5: Definitions, Conforming Changes, Repeals - Sets forth definitions. Prohibits a U.S. court from declining on the ground of the Federal act of state doctrine to make a determination on the merits giving effect to the principles of international law in a case in which claim of title or other right to property is asserted by any party based upon a taking after January 1, 1959, by an act of that state in violation of the principles of international law. (Sec. 864) Deems references to: (1) the Administrator of the Agency for International Development (AID) and to the administrator of the agency primarily responsible for administering part I of this part to be references to the Secretary; (2) AID to be references to the Department of State; and (3) the Trade and Development Agency to be references to OPIC. (Sec. 865) Repeals the Foreign Assistance Act of 1961 (with the exception of a few provisions).
United States · United States Congress · 14 February 1995
Expresses the sense of the Congress that the Secretary of the Treasury should submit monthly status reports to certain congressional committees detailing specified aspects of U.S. loan assistance made to the Government of Mexico.
United States · United States Congress · 13 February 1995
Privatization of Defaulted Debt Collection Act - Amends the Federal criminal code to require the Director of the Administrative Office of the U.S. Courts, to the extent practicable, to contract with private entities on a contingent fee basis to collect fines and special assessments on convicted persons that are more than 120 days in default.
United States · United States Congress · 10 February 1995
TABLE OF CONTENTS: Title I: Substantive Criminal Law Enhancements Title II: Immigration Law Improvements Title III: Controls Over Terrorist Fund-Raising Title IV: Convention on the Marking of Plastic Explosives Title V: Nuclear Materials Title VI: Procedural and Technical Corrections and Improvements Title VII: Antiterrorism Assistance Omnibus Counterterrorism Act of 1995 - Title I: Substantive Criminal Law Enhancements - Amends the Federal criminal code to establish penalties for acts of terrorism transcending national boundaries. Sets forth provisions regarding limits on prosecution, investigative responsibility, evidence, extraterritorial jurisdiction, the statute of limitations, detention, and wiretap authority. (Sec. 102) Sets penalties for conspiring to kill, kidnap, or maim people in (currently, limited to injuring property of) a foreign country. (Sec. 103) Makes penalties for an individual committing an offense on an aircraft in flight outside the special aircraft jurisdiction of the United States applicable regardless of whether such individual is later found in the United States. Grants jurisdiction over such an offense if: (1) a U.S. national was or would have been on board the aircraft; (2) an offender is a U.S. national; or (3) an offender is found in the United States. Provides that if the victim of specified offenses is an internationally protected person outside the United States, the United States may exercise jurisdiction if: (1) the victim is a representative, officer, employee, or agent of the United States; (2) an offender is a U.S. national; or (3) an offender is found in the United States. Title II: Immigration Law Improvements - Amends the Immigration and Nationality Act (INA) to establish procedures for the removal and expulsion of alien terrorists. Specifies that an alien subject to removal under these provisions shall have no right to discovery of information derived from electronic surveillance authorized for national security purposes, nor shall such alien have the right to seek the suppression of evidence. Authorizes the Government to use in removal proceedings the fruits of electronic surveillance, unconsented physical searches, or both, authorized under the Foreign Intelligence Surveillance Act. Sets forth provisions regarding the conduct of a special removal hearing. Specifies that each application shall require the approval of the Attorney General or the Deputy Attorney General based upon a finding that it satisfies specified criteria and requirements under this title. Sets forth provisions regarding the treatment of classified information, appeals, the right to counsel, standards of proof, the designation of judges, and deportation. Establishes penalties for reentry of an alien who was deported pursuant to this title. (Sec. 202) Revises INA provisions regarding the exclusion of an alien for terrorism activities. Considers an alien who is a representative of any terrorist organization designated by proclamation by the President as detrimental to the interest of the United States to be engaged in such activities. Defines: (1) "terrorist organization" to mean any organization engaged, or which has a significant subgroup engaged, in terrorism activity, regardless of any legitimate activities conducted by the organization or subgroups; and (2) "terrorism" to mean premeditated, politically motivated violence perpetrated against noncombatant targets. Limits the access of aliens to records, documents, and classified information under specified circumstances. (Sec. 203) Allows the Attorney General (and, in some cases, an employee or official of the Department of Justice or any bureau or agency thereof) to authorize an application to a Federal court of competent jurisdiction for, and allows a judge of such court to grant, an order authorizing disclosure of information contained in an alien's application for adjustment of status for: (1) identification of an alien believed to have been killed or severely incapacitated; or (2) criminal law enforcement purposes against the alien if the alleged criminal activity occurred after the legalization application was filed and such activity poses an immediate risk to life or national security or would be prosecutable as an aggravated felony, without regard to the length of sentence that could be imposed on the applicant. Title III: Controls Over Terrorist Fund-Raising - Amends the Federal criminal code to authorize the President to regulate or prohibit within the United States or by any person subject to U.S. jurisdiction: (1) fund-raising or the provision of funds for use by or for the benefit of any foreign organization that the President has designated as being engaged in terrorism activities; or (2) financial transactions with any such foreign organization. Permits the President to revoke such designation, in whole or in part, when conditions so warrant. Makes any finding made in such designation that a foreign organization engages in terrorism activity conclusive. Prohibits any person within, or subject to the jurisdiction of, the United States: (1) from raising, receiving, or collecting funds on behalf of, or providing funds to or for, an organization or person so designated; and (2) acting for or on behalf of any organization or person so designated, from transferring or disposing of any funds in which such organization or person has an interest. Directs the Secretary of the Treasury to publish regulations setting forth the procedures to be followed by persons seeking to raise or provide funds for an organization so designated. Requires any person within the United States or subject to its jurisdiction who seeks to solicit funds for or to transfer funds to any organization or person so designated to first obtain a license from the Secretary (and thereafter allows solicitation or transfer of funds to a designated organization or person only as permitted under the terms of a license issued by the Secretary). Directs the Secretary to grant a license only after the person establishes that: (1) the funds are intended to be used exclusively for religious, charitable, literary, or educational purposes; and (2) all recipient organizations in any fund-raising chain have effective procedures in place to ensure that the funds will be used exclusively for such purposes and will not be used to offset a transfer of funds for terrorist activity. Sets forth recordkeeping requirements. Requires any financial institution which becomes aware that it has possession of or control over any funds in which an organization or person so designated has an interest to retain possession of or maintain control over such funds and report to the Secretary the existence of such funds. Sets penalties for violations of this provision. Sets forth provisions regarding: (1) investigations; (2) recordkeeping and reporting requirements and civil procedures; (3) penalties; (4) injunctions; (5) extraterritorial jurisdiction; and (6) interlocutory appeals and the discovery and introduction of classified information in civil proceedings brought by the United States. Title IV: Convention on the Marking of Plastic Explosives - Marking of Plastic Explosives for Detection Act - Prohibits (with exceptions) the manufacture, importation, exportation, shipment, transport, transfer, receipt, or possession of any plastic explosive which does not contain a detection agent. Prohibits any person (other than a U.S. agency or the National Guard of any State) possessing any plastic explosive on the effective date of this Act from failing to report to the Secretary the quantity of such explosives possessed, the manufacturer or importer, any identification marks, and such other information as the Secretary may prescribe. (Sec. 405) Sets forth: (1) penalties for violations of this title; and (2) affirmative defenses. (Sec. 407) Directs the Attorney General to exercise authority over violations of this title only when they are committed by a member of a terrorist or revolutionary group (and, in such case, the Attorney General shall have primary investigative responsibility). Title V: Nuclear Materials - Amends the Federal criminal code to expand the scope of provisions regarding prohibited transactions involving nuclear materials (for example, to include nuclear byproduct material) and the jurisdictional bases (such as to cover a situation where an offender or a victim is a U.S. national or a U.S. corporation or other legal entity). Title VI: Procedural and Technical Corrections and Improvements - Amends the Federal criminal code to expand the provision regarding the use of weapons of mass destruction to cover threats to use such weapons. Subjects to the death penalty any U.S. national who, outside of the United States, uses or threatens, attempts, or conspires to use a weapon of mass destruction. (Sec. 603) Makes specified terrorist offenses predicates to a violation of the Racketeer Influenced and Corrupt Organizations Act. (Sec. 604) Adds terrorism offenses to the money laundering statute. (Sec. 605) Authorizes interceptions of communications in certain terrorism-related offenses. (Sec. 606) Revises provisions of the Federal criminal code to provide that there is U.S. jurisdiction over specified maritime violence: (1) regardless of whether the activity is prohibited by the State in which it takes place; and (2) committed by a U.S. national or by a stateless person whose habitual residence is in the United States regardless of whether the activity takes place on a ship flying the flag of a foreign country or outside the United States. (Sec. 607) Expands Federal jurisdiction over bomb threats. (Sec. 608) Increases the penalty for explosives-related conspiracies. (Sec. 609) Includes assaults, murders, and threats against former Federal officials on account of the performance of their official duties within the scope of provisions proscribing influencing, impeding, or retaliating against a Federal official by threatening or injuring a family member. (Sec. 610) Adds conspiracy to specified terrorism-related offenses. Title VII: Antiterrorism Assistance - Revises the Foreign Assistance Act of 1961 to: (1) authorize antiterrorism training services conducted outside the United States during a period of not more than 180 (currently, 30) days; and (2) require U.S. Government personnel authorized to advise foreign countries on antiterrorism matters to carry out their responsibilities within the United States when determined most effective or outside the United States for periods not to exceed 180 consecutive calendar days. Repeals a provision prohibiting funds made available for antiterrorism assistance from being used for personnel compensation or benefits.
United States · United States Congress · 10 February 1995
Asset Conservation, Lender Liability, and Deposit Insurance Protection Act of 1995 - Amends the Federal Deposit Insurance Act to absolve Federal banking or lending agencies of liability under any law imposing strict liability for the release of hazardous substances (including petroleum) from property acquired in connection with: (1) receivership or conservatorship authority or the liquidation of an insured depository institution; (2) the provision of loans or other financial assistance; or (3) property received in a civil or criminal proceeding or administrative enforcement action. Extends such immunity to the first subsequent purchaser of property acquired from such an agency, except under certain conditions. Provides that such an agency that causes or contributes to a release may be liable for response actions under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA or Superfund) or under Subtitle I of the Solid Waste Disposal Act (provisions pertaining to underground storage tanks). Exempts such agencies from any law requiring them to grant covenants warranting that a response action has been, or will be, taken with respect to such acquired property. Amends CERCLA to limit liability under such Act and Subtitle I of the Solid Waste Disposal Act of insured depository institutions or other lenders in connection with property acquired through foreclosure, subject to a security interest, held by a lessor pursuant to an extension of credit, or subject to financial control pursuant to an extension of credit, to the actual benefit conferred on the institution or lender by a removal, remedial, corrective, or other response action undertaken by another party. Defines the "actual benefit" as the net gain realized by the institution or lender due to such action. Provides that institutions or lenders that caused or contributed to hazardous substance releases may be liable for response actions. Directs the Administrator to issue guidelines for such institutions and lenders to develop procedures to evaluate environmental risks that may arise from or at property prior to making an extension of credit secured by such property. Provides that the liability of a fiduciary that is liable under other CERCLA provisions or Subtitle I of the Solid Waste Disposal Act for releases in connection with property held in a fiduciary capacity may not exceed the assets held in such capacity that are available to indemnify the fiduciary. Makes fiduciaries potentially liable for response or corrective actions if they caused or contributed to a hazardous substance release. Lists additional conditions under which fiduciaries are exempted from liability. Makes liability provisions regarding fiduciaries inapplicable to Federal banking or lending agencies. Excludes from the definition of "owner or operator," for purposes of limiting liability under CERCLA, the United States, a Federal agency, or a conservator or receiver appointed by a Federal agency which acquired ownership of a facility or vessel in connection with receivership or conservatorship, forfeiture or seizure authority, or pursuant to a law specifying the property to be acquired, provided such entity does not participate in operations that result in a release. Excludes persons who did not participate in management of a vessel or facility prior to foreclosure (even if they engage in specified foreclosure, business, or response activities) from such definition as well. Includes underground storage tanks in the definition of "facility or vessel." Makes conforming amendments to the Solid Waste Disposal Act with respect to limitations on liability established by this Act.
United States · United States Congress · 9 February 1995
TABLE OF CONTENTS: Title I: Strengthening International Sanctions Against the Castro Government Title II: Support for a Free and Independent Cuba Title III: Protection of American Property Rights Abroad Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1995 - Title I: Strengthening International Sanctions Against the Castro Government - Expresses the sense of the Congress that: (1) the President should instruct the U.S. Permanent Representative to the United Nations to seek within the Security Council a mandatory international embargo against the Cuban Government; and (2) efforts by any independent state of the former Soviet Union to make the nuclear facility at Cienfuegos operational will have a detrimental impact on U.S. assistance to such state. (Sec. 102) Reaffirms a provision of the Cuban Democracy Act of 1992 which states that the President should encourage foreign countries to restrict trade and credit relations with Cuba. Urges the President to take steps to apply sanctions described by such Act against countries assisting Cuba. Directs the President to instruct the Secretary of the Treasury and the Attorney General to enforce the Cuban Assets Control Regulations. (Sec. 103) Makes it unlawful for any U.S. person to extend knowingly any loan or other financing to a foreign person that traffics in property confiscated by the Cuban Government the claim to which is owned by a U.S. person. Terminates such prohibition upon termination of the economic embargo of Cuba. (Sec. 104) Directs the Secretary to instruct the U.S. executive directors of the international financial institutions to vote against the admission of Cuba as a member of such institutions until Cuba holds free and fair democratic elections. Requires the President to support Cuba's membership in such institutions during the period that a transition government is in power, subject to the membership taking effect after a democratically-elected government is in power. Reduces U.S. payments to institutions that approve assistance to Cuba over the opposition of the United States. (Sec. 105) States that the President should instruct the U.S. Permanent Representative to the Organization of American States to vote against the readmission of Cuba to membership until a democratically-elected government is in power. (Sec. 106) Directs the President to report to the appropriate congressional committees on progress towards the withdrawal of personnel of any independent state of the former Soviet Union from the Cienfuegos nuclear facility. Amends the Foreign Assistance Act of 1961 to make ineligible for assistance any independent state that is providing assistance for, or engaging in nonmarket based trade with, Cuba. Withholds from assistance allocated for an independent state an amount equal to the assistance and credits provided by such state in support of military and intelligence facilities in Cuba. (Sec. 107) Requires the Director of the U.S. Information Agency to implement a conversion of television broadcasting to Cuba under the Television Marti Service to ultra high frequency broadcasting. (Sec. 108) Directs the President to report annually to the appropriate congressional committees on other countries' commerce with, and assistance to, Cuba. (Sec. 109) Prohibits the importation into U.S. customs territory of any sugars, syrups, and molasses that are the product of a country that has imported Cuban sugar, syrups, or molasses. Makes such prohibition inapplicable if such country certifies to the President that it will not import Cuban sugar, syrups, or molasses until free and fair elections are held in Cuba. Authorizes the President to reallocate to other countries the quota of sugars, syrups, and molasses allocated to such a country during the period in which a prohibition is in effect. Title II: Support for a Free and Independent Cuba - Authorizes the President to provide assistance for the Cuban people after a transition or a democratically-elected government is in power. Limits assistance to a transition government to humanitarian assistance. Expands assistance to a democratically-elected government to include assistance to promote free market development, private enterprise, and a mutually beneficial trade relationship between the United States and Cuba. (Sec. 202) Directs the President to determine whether to designate Cuba as a beneficiary country pursuant to the Caribbean Basin Economic Recovery Act. Permits such designation to be made only after a democratically-elected government is in power. Amends such Act to make Cuba eligible for such designation. Declares that the President, upon transmittal to the Congress of a determination that a democratically-elected government is in power in Cuba, should take steps to extend nondiscriminatory trade treatment (most-favored-nation status) to Cuban products and to encourage investment in Cuba. (Sec. 204) Terminates the U.S. trade embargo against Cuba upon the President's transmittal to the Congress of a determination that a democratically-elected government is in power in Cuba. (Sec. 205) Sets forth conditions under which a government in Cuba will be considered transitional or democratic. Title III: Protection of American Property Rights Abroad - Amends the Immigration and Nationality Act to exclude from the United States aliens involved in the confiscation of property owned by U.S. persons. (Sec. 302) Sets forth provisions regarding liability for damages owed to U.S. persons by persons or governments trafficking in confiscated property. Grants U.S. district courts exclusive jurisdiction over such actions. (Sec. 303) Amends the International Claims Settlement Act of 1949 to authorize a U.S. national to bring a claim resulting from expropriation actions of the Cuban Government to the Foreign Claims Settlement Commission for certification of the amount and validity whether or not the U.S. national qualified as a U.S. national at the time of the action. Requires claimants to be U.S. nationals at the time of confiscation in the case of property confiscated after the date of the enactment of the LIBERTAD Act of 1995. Repeals a time limitation on completion of the Commission's settlement of claims against China and Cuba.
United States · United States Congress · 7 February 1995
Excludes from the determination of income, for purposes of the payment of pension by the Secretary of Veterans Affairs, any monthly payments made by a State to blind and totally disabled veterans.
United States · United States Congress · 3 February 1995
Low-Income Housing Preservation Act of 1995 - Amends the Internal Revenue Code to provide a 15-year recovery period for the depreciation deduction for new investments to rehabilitate qualified low-income housing projects. Exempts $50,000 ($25,000 in the case of a separate return by a married individual) of such rehabilitation costs from the passive loss limitations. Provides a special rule for computing the depreciation deduction for such housing projects.
United States · United States Congress · 2 February 1995
TABLE OF CONTENTS: Title I: Creation and Control of Financial Services Holding Companies Title II: Supervisory Improvements Depository Institution Affiliation Act - Title I: Creation and Control of Financial Services Holding Companies - Sets forth the terms and conditions under which a financial services holding company (FSHC) can be established and must be operated. (Sec. 101) Requires any FSHC seeking to acquire control of an insured bank, an insured institution, a bank holding company, a savings and loan holding company, or another financial services holding company to comply with certain requirements of the Federal Deposit Insurance Act. Establishes penalties and additional procedures for failing to comply with such requirements. Permits the appropriate Federal regulatory agency (the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Board of Directors of the Federal Deposit Insurance Corporation, or the Federal Home Loan Bank Board) to adopt rules and regulations to prevent an insured depository institution that is controlled by an FSHC from engaging in unsafe or unsound practices. Subjects FSHCs to the same restrictions on affiliate transactions that are imposed upon member banks (banks which are members of a Federal Reserve bank) under the Federal Reserve Act. Establishes additional restrictions on inter-affiliate transactions, including prohibiting an insured bank or institution that is an affiliate of a FSHC from: (1) extending credit to a securities affiliate or subsidiary; (2) purchasing for its own account the assets of a securities affiliate or subsidiary; or (3) extending credit to an issuer of securities underwritten by a securities affiliate for the purpose of paying the principal of those securities or interest for dividends on those securities. Mandates that each insured depository institution that is controlled by an FHSC be well capitalized. Requires any FSHC which is in control of an insured depository institution found to be undercapitalized to: (1) enter into an agreement with the appropriate Federal regulatory agency to return the institution to being well capitalized; or (2) divest control of such bank or institution. Prohibits Federal regulatory agencies from imposing requirements pertaining to the capitalization of an FSHC. Subjects interstate acquisitions: (1) of an insured bank by an FSHC to the same restrictions as are applicable to bank holding companies under the Bank Holding Company Act of 1956; and (2) of savings associations by an FSHC to the same restrictions as are applicable to savings and loan companies. Prohibits Federal and State governments from enacting laws that discriminate against FSHCs or their affiliates. Preempts any Federal or State provision that is inconsistent with the purposes of this Act. Prohibits insured banks and institutions that are associated with an FSHC from: (1) dealing in or underwriting securities; (2) underwriting insurance; or (3) investing in or developing real estate. Provides certain limitations on FSHC entry into the businesses of insurance agency and real estate brokerage. Subjects FSHCs to the tying provisions of the Bank Holding Company Act Amendments of 1970 and to the insider lending prohibitions of the Federal Reserve Act. (Sec. 102) Makes conforming amendments to the Bank Holding Company Act of 1956. (Sec. 103) Amends the Federal Reserve Act to provide that, for the purpose of restricting loans or extending credit to affiliates, a loan or extension of credit shall not be deemed to be made to an affiliate if: (1) the approval of such loan or extension of credit was in accordance with the same standards and procedures and on substantially the same terms that apply to similar loans or extensions of credit; and (2) such loan or extension of credit was not made for the purpose of evading any requirement of such Act. (Sec. 104) Amends the Banking Act of 1933 to make certain provisions inapplicable to member banks which are controlled by FSHCs. (Sec. 105) Makes conforming amendments to the Federal Deposit Insurance Act. (Sec. 106) Amends the Securities Exchange Act of 1934 to provide for the registration and regulation of broker dealers. (Sec. 107) Makes conforming amendments to the Home Owners' Loan Act and the Community Reinvestment Act of 1977. Title II: Supervisory Improvements - Establishes a National Financial Services Oversight Committee to establish uniform principles and standards for the examination and supervision of financial institutions and other providers of financial services and to recommend additional measures to the Congress to strengthen the separation of insured banks and institutions controlled by FSHCs from the activities of their affiliates.
United States · United States Congress · 1 February 1995
Home Office Deduction Act of 1995 - Amends the Internal Revenue Code to provide that a home office qualifies as the principal place of business if: (1) the office is the location where the taxpayer's essential administrative or management activities are conducted on a regular and systematic (and not incidental) basis by the taxpayer; and (2) the office is necessary because the taxpayer has no other location for the performance of the essential administrative or management activities of the business. Treats the storage of product samples as inventory for deduction purposes.
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