United States · United States Congress · 20 November 1981
Directs the United States Postal Service to issue a commemorative postage stamp to honor the dedication of the Vietnam Veterans Memorial. Provides that such stamp shall be issued in the denomination applicable to first-class mail up to one ounce in weight. Directs that such stamp shall be issued on November 11, 1982.
United States · United States Congress · 20 November 1981
Amends the copyright law to eliminate the prior to July 1, 1982, restriction on the application of the manufacturing requirements to nondramatic literary material.
United States · United States Congress · 20 November 1981
Milwaukee Railroad and Rock Island Railroad Amendments Act - Amends the Milwaukee Railroad Restructuring Act to define a "financially responsible person" as one who is capable of paying the purchase price of a railroad line proposed to be acquired and is able to cover the cost of providing service over the line for at least two years. Revises procedures by which the Interstate Commerce Commission (ICC) oversees the purchase of bankrupt rail lines by such financially responsible persons. Amends the Rock Island Railroad Transition and Employee Assistance Act to declare that the ICC's authority to grant temporary operating approval for the use of Rock Island or Milwaukee Railroad facilities shall continue until a plan of reorganization or liquidation is approved by the ICC and the bankruptcy court.
United States · United States Congress · 18 November 1981
Amends the Omnibus Budget Reconciliation Act of 1981 to delay the effective date of amendments relating to group eligibility requirements for trade adjustment assistance for workers.
United States · United States Congress · 17 November 1981
Amends the Revenue Act of 1978 to make permanent the exclusion from gross income of national research service awards received from the Public Health Service.
United States · United States Congress · 10 November 1981
Expresses the sense of the Congress that the President should: (1) express U.S. opposition to the imprisonment of Alexander Paritsky; (2) urge the Soviet Union to release him from prison, to stop harassing him and his family, and to permit him and his family to emigrate; and (3) inform the Soviet Union that the United States will consider the extent to which countries honor their commitments under international law when evaluating U.S. relations with such countries.
United States · United States Congress · 9 November 1981
Rural Enterprise Zone Act of 1981 - Title I: Designation of Rural Enterprise Zones - Provides for the designation of rural enterprise zones, for a period not to exceed 15 years and subject to the approval of the Secretary of Commerce, by local governments, State governments on behalf of local governments, or certain persons acting with the consent of the local governments, for purposes of extending the tax incentives and regulatory flexibility measures provided by titles II and III of this Act. Permits the Secretary to approve the designation of a zone only if the area: (1) is within the jurisdiction of the designating local government; (2) has a continuous boundary; (3) is located outside of a standard metropolitan statistical area or is otherwise determined to be rural by the Secretary: (4) has a population of at least 600, comprises an incorporated separate jurisdiction, or is an Indian reservation; (5) contains no prime agricultural lands; and (6) meets specified unemployment and poverty requirements used under the urban development action grant program. Requires persons seeking approval of an area designation to submit a plan which documents commitment, analyzes costs and benefits, and: (1) describes planned local efforts to increase employment and encourage area economic development; (2) guarantees the ability of any government with jurisdiction over the area to manage the zone; (3) describes existing areas development efforts; (4) demonstrates the geographic, population, and unemployment and income features set forth in this Act; and (5) describes the planned use of existing Federal resources for economic development. Terminates the authority of the Secretary to approve zone designations after a three-year period. Sets forth maximum numbers of such designations. Prescribes grounds for giving preference in decisions to designate rural enterprise zones. Directs the Secretary to contract with the person requesting approval of an area designation for the management of the area. Expresses the sense of the Congress that in the case of any application for designation of a foreign trade zone within a rural enterprise zone: (1) the Foreign-Trade Zone Board should expedite the application process; (2) the Board, in evaluating such application, should consider future development to be expected as a result of the incentives provided by this Act; and (3) the Board should provide technical assistance to the applicants. Title II: Tax Incentives - Subtitle A: Capital Gains Tax Rates - Amends the Internal Revenue Code to reduce the alternative tax on capital gains and increase the capital gains deduction. Permits enterprise zone property to remain qualified for purposes of the revised capital gains treatment after a designation of a rural enterprise zone has terminated. Exempts gains from the sale or exchange of property used in certain businesses conducted largely in rural enterprise zones (qualified businesses) from the computation of the minimum tax. Removes as an item of tax preference accelerated depreciation of real property used in such a business, even though such property may be characterized as recovery property. Allows a taxpayer to elect to have gain from the sale or exchange of a capital asset recognized only to the extent that the proceeds exceed the cost of property used in a rural enterprise zone which is purchased within one year of such sale. Prescribes a three-year statute of limitations for the assessment of any deficiency attributable to such gain. Subtitle B: Deduction for Investment in Certain Businesses - Allows an income tax deduction for investment in qualified businesses. Subtitle C: Targeted Jobs Credit Increased in Rural Enterprise Zones - Increases the amount of the income tax credit for employment of certain new employees (targeted jobs credit) in the case of members of targeted groups with respect to whom at least 50 percent of the services performed for the employer are performed in a rural enterprise zone or who are residents of such a zone. Subtitle D: Credit for Certain Contributions - Allows an income tax credit for five percent of a taxpayer's payment for the provision of certain community development services in a rural enterprise zone. Subtitle E: Miscellaneous - Permits any qualified business to elect to use the cash receipts and disbursements method of accounting without regard to any inventory requirements if its gross receipts do not exceed $1,500,000 in any prior taxable year. Prescribes a minimum bad debt reserve for taxpayers who finance the provision of goods and services to qualified businesses. Title III: Regulatory Flexibility - Revises the definition of "small entity," for purposes of the analysis of regulatory functions, to include qualified businesses (as defined in this Act), designating governments, and nonprofit enterprises operating within rural enterprise zones.
United States · United States Congress · 26 October 1981
Motor Vehicle Safety Amendments Act of 1981 - Amends the National Traffic and Motor Vehicle Safety Act of 1966 to direct automobile manufacturers to install automatic crash protection in passenger automobiles manufactured on or after September 1, 1983. Directs the Secretary of Transportation to inform the public about the performance and benefits of automatic crash protection.
United States · United States Congress · 6 October 1981
Acid Deposition Control Act - Amends title I of the Clean Air Act (Air Pollution Prevention and Control) to establish a new program (Interstate Transport and Acid Precursor Reduction) to: (1) regulate the long-range transport of pollutants and their transformation products; and (2) reduce acid compounds, and their precursors, in the atmosphere. Establishes a long-range transport corridor, the "acid deposition impact region," consisting of 31 States (east of or bordering the Mississippi River) and the District of Columbia. Directs the Administrator of the Environmental Protection Agency to: (1) conduct a study of air pollution problems associated with the long-range transport of pollutants in the portions of the continental United States not included in the acid deposition impact region; and (2) report the results to Congress within two years. Prohibits the increase of emissions of sulfur dioxide and of oxides of nitrogen from stationary sources in the acid deposition impact region over such total actual emissions there as of January 1, 1981. Prohibits any major stationary source in the region from significantly increasing such emissions, unless a not otherwise required net reduction of such regional pollution, in excess of the proposed increase, has been identified. Requires a ten-year phased reduction in annual emissions of sulfur dioxide in the region of 10,000,000 tons from the total 1980 level. Requires each State to achieve reductions in annual sulfur dioxide emissions according to a formula based on each State's share of utility emissions in the region. Permits State Governors to agree to reallot the required reductions. Requires each State in the region to adopt, within two years, enforcement measures to achieve such reduction. Directs the Administrator to approve such measures within four months if specified criteria are met. Sets forth a uniform sulfur dioxide emission limit for fossil-fuel-burning electric generating facilities (which are major stationary sources not subject to new performance standards) in any State that has not adopted, or has not had approved, such enforcement measures by such deadlines. Requires that owners or operators of such sources: (1) submit an approvable reduction plan and schedule within three years of enactment of this Act; (2) comply with such plan and schedule; and (3) achieve the required emission reduction at the earliest practicable date, but no later than ten years after enactment of this Act. Specifies methods or programs for enforceable net emission reduction that may be used by a State or the owner or operator of a source. Permits a State or owner or operator to substitute reduction in emissions of oxides of nitrogen for required sulfur dioxide emissions reductions, at a specified rate. Adds to State implementation plan requirements a prohibition of stationary source air pollutant emissions in amounts that will contribute to atmospheric loadings of pollutants or their transformation products so as to adversely affect public health or welfare or the environment in any other State or foreign country.
United States · United States Congress · 5 October 1981
Missing Children Act - Authorizes the Attorney General to collect and exchange information which would assist in the identification of unidentified deceased individuals, and the location of missing persons, including missing children.
United States · United States Congress · 1 October 1981
Expresses the objection of Congress to the proposed sale to Saudi Arabia of airborne warning and control system (AWACS) aircraft, conformal fuel tanks, AIM- 9L Sidewinder air-to-air missiles, and aerial refueling aircraft.
United States · United States Congress · 30 September 1981
Budget and Oversight Improvement Amendments of 1981 - Declares that the purpose of this Act is to establish a more thorough and timely process for the adoption of the Federal budget. Amends the Congressional Budget Act of 1974 to revise the timetable with respect to the congressional budget process to provide for a two-year budget cycle, beginning with the Ninety-eighth Congress. Defines the term '2-fiscal-year budget period' to be the period of 2 fiscal years beginning on October 1 of any even-numbered year. Requires all bills and resolutions providing budget or spending authority, with certain exceptions involving supplemental appropriations, for any 2-fiscal-year budget period to be reported to the House of Representatives and the Senate no later than April 1 of the year in which such period begins. Requires the Congress to complete action on all bills and resolutions directly or indirectly authorizing the enactment of new budget authority for a 2-fiscal-year budget period not later than October 1 of the year preceding the year in which such period begins. Declares that it is essential to provide for the congressional determination biennially of the appropriate level of gross obligations for the principal amount of direct loans and the appropriate level of commitments to guarantee loan principal. Includes within the definition of 'budget authority' the authority to make direct loans. Requires the Congressional Budget Office to provide to the Budget committees information with respect to direct loans and loan guarantees. Requires the following information to be included within the first concurrent resolution on the budget: (1) the appropriate level of total gross obligations for direct loans and loan guarantees; and (2) an estimate of gross obligations for the principal amount of direct loans and an estimate of commitments to guarantee loan principal for each major functional category. Makes it out of order in the Senate or the House to consider any first concurrent resolution on the budget if such resolution includes any other matter other than that specified by such Act. Requires the House Committee on Banking, Finance and Urban Affairs and the Senate Committee on Banking, Housing, and Urban Affairs to submit to the Budget Committees its recommendations as to the appropriate level of total gross obligations for direct loans and loan guarantees. Requires the Committee on Appropriations of each House to subdivide among its subcommittees the allocation of gross obligations for the principal amount of direct loans and the allocation of commitments to guarantee loan principal allocated to it in the joint explanatory statement accompanying the conference report on the first concurrent resolution on the budget. Makes it out of order in either House to consider any concurrent resolution on the budget revising a concurrent resolution on the budget for any fiscal year which is adopted before the adoption of the second concurrent resolution on the budget for such fiscal year if the revising resolution includes any matter other than matters specified by such Act. Requires either House, when reporting a bill or resolution providing new budget authority or new or increased tax expenditures, to report on how the level of gross obligations for the principal amount of direct loans and the level of commitments to guarantee loan principal provided in that bill or resolution compare with such information set forth in the most recently agreed to concurrent resolution on the budget. Requires the up to date tabulation of Congressional budget actions by the Congressional Budget Office to compare the gross obligations for direct loans and loan guarantees for such fiscal years on which Congress has completed action to the gross obligations set forth in the most recently agreed to concurrent resolution on the budget. Limits the enrollment of bills and resolutions providing new budget or new spending authority for any 2-fiscal-year budget period until the concurrent resolution for such 2-fiscal-year period has been agreed to. Makes it out of order in either House to consider any bill or resolution which provides, extends, or enlarges authority to incur obligations for direct loans or loan guarantees unless that bill, resolution, or amendment also provides that such authority is to be effective for any fiscal year only to such extent as provided in appropriation Acts. Sets forth the information to be included in the budget of the United States Government submitted pursuant to the Budget and Accounting Act, 1921, for the 2-fiscal-year budget period beginning on October 1, 1984. Amends the Budget and Accounting Act, 1921, to require the President to transmit to the Congress, by January 10, of the first session of each Congress beginning with the 98th Congress, the budget for the 2-fiscal-year budget period beginning on October 1 of the succeeding calendar year. Requires that all essential facts regarding direct loans and loan guarantees be included within such report. Requires the President to transmit revisions in the budget by January 10 of the second session of such Congress. Requires the President to include in such budget: (1) proposed budget authority; (2) direct loans and commitments to guarantee loan principal; and (3) estimates of outlays and receipts for all activities of all departments and instrumentalities of the Federal Government, except Government sponsored corporations to the extent financed by wholly private funds. Amends the Legislative Reorganization Act of 1946 to require the standing committees of the Senate and the House (except specified committees), during the period beginning on the 15th day after the Congress meets in each odd-numbered year and ending October 1 of the following even-numbered year, to review and study: (1) the application, administration, execution, and effectiveness of those laws the subject matter of which is within the jurisdiction of such committee; and (2) the organization and operation of the Federal agencies and entities having responsibilities in or for the administration and execution thereof. Requires the findings to be reported to the House or the Senate no later than October 1 of such even-numbered year, and shall constitute the basis for such committee's legislative work during the succeeding Congress. Sets forth the effective dates for the provisions of this Act.
United States · United States Congress · 28 September 1981
Hunger Elimination and Global Security Act - Expresses the sense of Congress that the United States should make development of poor countries and the eradication of poverty and hunger the primary objective of U.S. foreign policy. Directs the President to designate certain foreign aid programs as Hunger Relief and Prevention Assistance. Title I: Public Law 480 - Amends the Agricultural Trade Development and Assistance Act of 1954 to replace the provision describing self-help programs developed under agreements for the sale of farm products for foreign currency and long-term-dollar-credit. Requires such agreements to describe the self-help programs and to provide for the termination of the agreement or adjustment of its credit terms whenever the President finds that the program is not being carried out as specified in the agreement. Prohibits termination or credit adjustment of such an agreement if the President reports to Congress that: (1) such action would threaten U.S. security; or (2) the program was not carried out because of circumstances beyond the control of the recipient country. Requires the self-help measures to be sufficiently described so that the primary beneficiaries of the agreement will be needy people. Defines "needy people." Requires such measures to be in addition to measures that the recipient country would otherwise have taken. Directs the President to verify that such measures are being carried out and to report to the appropriate congressional committees on such verification and on the additional nature of such measures. Title II: Multilateral Development Banks - Amends the International Financial Institutions Act to direct the Secretary of the Treasury to work within certain multilateral development banks to establish a requirement that not less than 50 percent of such banks' lending must benefit needy people. Requires the Secretaries of State and Treasury to report to Congress annually on establishing such requirement. Title III: World Food Security - Directs the President to encourage other grain exporting countries to establish their own food security reserves or take other measures that complement the U.S. food security reserve. Directs the President to report to Congress on actions taken with respect to such food security reserves. Directs the President to negotiate with other countries and with certain organizations to try to ensure that the benefits of the food financing facility recently approved by the International Monetary Fund be directed to effect the maximum feasible reduction in hunger and malnutrition. Directs the President to report to Congress on such negotiations. Amends the Export Administration Act of 1979 to prohibit the Secretary of Commerce from imposing export controls on food if such controls would cause measurable malnutrition in the countries against whom the controls are proposed unless the President determines such controls are necessary to protect U.S. national security. Title IV: Basic Human Needs Agreement - Requires a Basic Human Needs Agreement between the United States and a foreign country before the foreign country may receive bilateral development assistance under the Foreign Assistance Act of 1961. Exempts from such requirement assistance for narcotics control, disaster relief, or peacekeeping operations. Sets forth the goals of such agreements. Title V: Relief and Prevention of Starvation - African Assistance and Hunger Prevention Act - Requires at least 50 percent of all U.S. international development assistance funds beginning in fiscal year 1983 to be used to finance productive facilities primarily for the absolutely poor. Defines the "absolutely poor." Requires special emphasis to be placed on alleviating hunger in sub-Saharan Africa and on the role of women in farm production in that region. Amends the Agricultural Trade Development and Assistance Act of 1954 to earmark for the food for development program a specified percentage of the aggregate value of all agreements entered into under the program for the sale of farm products for foreign currency and long-term-dollar-credit. Requires certain commodities and funds to be used to establish grain reserves in famine prone African nations or to otherwise prepare for food shortages in those nations. Title VI: General Provisions - Expresses the sense of Congress that the President, acting through the Director of the Peace Corps, should emphasize projects to alleviate hunger and malnutrition by encouraging agricultural self-sufficiency in countries where Peace Corps volunteers are serving.
United States · United States Congress · 23 September 1981
Title I: Policy - Expresses the need to establish and maintain a uniform Federal policy for the management and use of the results of federally sponsored science and technology research and development. Title II: Implementation - Directs the Secretary of Commerce to coordinate, direct, and review the implementation and administration of this policy through consultation with Federal agencies and departments. Authorizes the Secretary to assist agencies in promoting licensing, utilization, and protection of Federal inventions both here and aboard and to receive fees and royalties. Requires the Secretary to report annually to Congress on these activities, including relevent statistical data and recommendations. Terminates the authority of the Secretary under this Act seven years after enactment. Title III: Allocations of Rights-Government Contractors - Grants each agency title to any invention made under contract with that agency upon certification to the Secretary that the services of the contractor are for the operation of Federal research centers, if necessary to protect intelligence activities, or to further the policy of this Act. Requires Federal agency research contracts to: (1) require periodic written reports on the commercial utilization of the invention; (2) reserve to the United States at least an irrevocable, nonexclusive, nontransferable, paid-up license to make, use, and sell the invention; and (3) employ a single patent rights clause, detailing the time limits and obligations of each party for moving on the invention. Grants the contractor the right to retain title to the invention, subject to the right of the Federal agency to require its commercial utilization through licensing specified terms. Permits an agency to waive its rights if to do so would be in the public interest. Title IV: Miscellaneous - Makes technical and conforming amendments to specified Acts.
United States · United States Congress · 21 September 1981
Constitutional Amendment - Grants concurrent power to Congress and the States to restrict and prohibit abortions. Directs that a State law which is more restrictive than a law of Congress shall govern. Declares that the Constitution does not secure a right to abortion.
United States · United States Congress · 17 September 1981
Expresses the objection of Congress to the proposed sale to Saudi Arabia of airborne warning and control system (AWACS) aircraft, conformal fuel tanks, Sidewinder air-to-air missiles, and aerial refueling aircraft.
United States · United States Congress · 15 September 1981
Authorizes the President to present, on behalf of Congress, a specially struck gold medal to the widow of Roy Wilkins. Authorizes the Secretary of the Treasury to coin and sell bronze duplicates of such medal. Authorizes appropriations.
United States · United States Congress · 15 September 1981
Directs the Board of Governors of the Federal Reserve System to undertake an aggressive campaign designed to encourage banks to: (1) cease providing loans or lines of credit for unproductive and speculative purposes, while increasing the supply of credit available for productive uses; and (2) ensure that thrift institutions, the housing industry, auto dealers, small business, farmers, and home buyers have access to the cheapest possible credit in order to avoid a recession.
United States · United States Congress · 10 September 1981
Amends the Internal Revenue Code to impose an additional excise tax on cigarettes. Amends title XVIII (Medicare) of the Social Security Act to appropriate revenues from such additional tax to the Federal Hospital Insurance Trust Fund.
United States · United States Congress · 29 July 1981
Legal Services Corporation Amendments of 1981 - Amends the Legal Services Corporation Act to extend the authorization of appropriations for carrying out the activities of the Legal Services Corporation in the amount of $100,000,000 for each of fiscal years 1982 through 1984. Directs the Corporation to make funds available for legal assistance furnished by private attorneys.
United States · United States Congress · 9 July 1981
Interstate Compact - Grants the consent of the Congress to an agreement between the States of Kansas and Missouri which establishes their mutual boundary.
United States · United States Congress · 8 July 1981
Directs the Postmaster General to issue a commemorative postage stamp to honor the seventieth anniversary of the founding of the Girl Scouts of the United States of America. Provides that such stamp shall be issued in the denomination used for first-class mail up to one ounce in weight and shall be placed on sale on March 12, 1982.
United States · United States Congress · 8 July 1981
Airline Deregulation Amendments Act of 1981 - Amends the Federal Aviation Act of 1958 to modify the definition of "ticket agent" as used in such Act. Directs air carriers to file with the Civil Aeronautics Board until December 31, 1982, individual and joint fares and charges, classifications, rules, and services for or in connection with interstate and overseas passenger air transportation. Requires that such filings shall be made to the Secretary of Transportation between January 1, 1983, and December 31, 1984. Prohibits air carriers and ticket agents from charging or collecting greater or less or different compensation than that specified in such filings. Transfers the authority of the Board relating to foreign air transportation to the Department of Transportation. Accelerates to January 1, 1983, the transfer of specified authority of the Board. Allows the Board to approve any contract or agreement that reduces or eliminates competition if it finds that the contract or agreement is necessary to secure important public benefits, including the marketing and sale of transportation through ticket agents. Sets forth the expiration dates for specified authority of the Secretary relating to contract approvals. Revises the expiration date and contents of the Secretary's (formerly the Board's) report to Congress concerning the implementation of such Act. Prohibits the Board from issuing any final order or rule in regard to agreements among air carriers and agreements among foreign air carriers insofar as those agreements provide for the accreditation and supervision of travel agents. Directs the Board to forward the recommendations and analyses concerning such proceedings to the Secretary for final disposition. Prohibits the Board and the Department from attaching an expiration date on any certificate of public convenience and necessity. Deletes provisions concerning the issuance of such certificates for temporary authority to provide air transportation. Permits an air carrier to file an application with the Secretary seeking to revoke a temporary or experimental certificate to engage in foreign air transportation. Directs the Secretary to grant such application according to specified criteria. Requires that each air carrier or foreign air carrier shall keep on file with the Board after January 1, 1983, the established divisions of all joint rates, fares, and charges for air transportation in which such carrier participates.
United States · United States Congress · 24 June 1981
Amends the Federal Property and Administrative Services Act of 1949 to authorize the Administrator of the General Services Administration, upon recommendation of the Attorney General, to donate surplus Federal property to any State for the construction and modernization of criminal justice facilities, including correctional facilities.
United States · United States Congress · 24 June 1981
National Archives and Records Administration Act of 1981 - Establishes the National Archives and Records Administration as an independent establishment in the executive branch. Requires the Administration to be directed by the Archivist of the United States who shall be appointed by the President for a ten-year term. Directs the Archivist to appoint a Deputy Archivist. Sets forth the administrative duties and authority of the Archivist. Requires the Archivist to submit to Congress an annual report concerning the administration of functions of the Archivist and the Administration. Transfers to the Administration and the Archivist the functions, duties, and authority of the General Services Administration (GSA) and its Administrator, respectively, concerning: (1) congressional printing and binding; (2) the Federal Register and the Code of Federal Regulations; (3) the distribution and sale of public documents; (4) archival administration; (5) presidential records; (6) the National Archives Trust Fund Board; (7) the National Historical Publications Commission; (8) records management; and (9) the disposal of records. Transfers to the Archivist all functions of the person holding the office of Archivist of the United States before enactment of this Act. Transfers the National Archives and Records Service (presently within GSA) to the Administration.
United States · United States Congress · 17 June 1981
Expresses the sense of the Senate that the President: (1) take action to resolve the dispute over industrial property rights recognized and protected in the Agreement on Trade Relations between the United States and Hungary; and (2) suspend extension of nondiscriminatory treatment to Hungary if settlement is not reached expeditiously.
United States · United States Congress · 15 June 1981
Amends the Bankruptcy Reform Act of 1978 to require the bankruptcy court, in the case of a bankruptcy petition filed by, or with respect to, a person engaged in the business of operating a farm produce storage facility, within specified time limits, to: (1) identify those farm producers who have produce in storage, and those parties which have secured interests in farm produce, within such facility; (2) audit the assets of the farm produce storage facility for the purpose of determining the extent of farm produce available for distribution to such producers and secured creditors; and (3) direct the abandonment of such farm produce according to procedures set forth by this Act. Declares that such procedures shall be applied by the court solely for the purpose of effectuating abandonment of farm produce which is not property of the estate, or is of inconsequential value to the estate, and shall not be construed to limit the right of any party to seek abandonment of any other property. Prohibits distribution of farm produce ordered abandoned by the court from being delayed due to the pendency of any appeal from the orders of abandonment, except that a stay of orders may be entered under specified conditions. Makes any such stay of orders appealable as of right by any aggrieved party. Grants to any farmer who, having delivered agricultural products to a licensed warehouseman upon a contract for sale and who has not received the agreed upon payment, a lien against products or like products in the licensed facility in excess of that required to satisfy receipted or other storage obligations, title to which may be then vested in such warehouseman, to the extent of the payment agreed upon for the purchase of the product sold. Attaches such lien at the time of the formation of the contract for sale and continues it until the obligations of the warehouseman to the seller of the products are satisfied.
United States · United States Congress · 9 June 1981
Amends the Internal Revenue Code to revise requirements for the exclusion of interest on mortgage subsidy bonds. Repeals provisions which allow tax-exempt status for such bonds if 95 percent of the mortgages financed by such issues are in compliance with stated requirements. Provides that a showing that the issuing authority has tried in good faith to satisfy all requirements will cure a failure to meet any particular requirement if such failure is corrected within a reasonable time after its discovery. Allows bondholders to rely upon an issuer's good faith covenant as to compliance. Revises the new homeowner requirements to allow eligibility for bond-financed mortgages for persons who are residing in substandard housing or who have lost their homes because of natural disasters or governmental action. Changes the method of determining the average area purchase price for purposes of the purchase price requirements for bond-financed mortgages. Specifies that the average area purchase price shall not include residences which are not typically financed through normal real estate mortgage loans and that such prices may be determined separately for new and previously occupied homes. Revises the arbitrage requirements to increase the amount by which interest rates on tax-exempt mortgage subsidy bonds may exceed the interest rates on mortgages financed with such bonds. Changes the method of determining the yield on an issue. Specifies that issuers are not required to dispose of any investment and realize a loss in order to satisfy arbitrage restrictions. Allows two or more qualified mortgage bond issues of a single issuer to be combined for purposes of determining compliance with arbitrage requirements. Permits issuers to maintain a reasonable reserve against investment losses and to allocate credits or payments between eligible mortgagors. Exempts mortgages insured by the Federal Housing Administration or guaranteed by the Veterans Administration from certain mortgage assumption requirements. Includes energy impacted areas within the definition of targeted areas for purposes of the special treatment of targeted area residences. Transfers to the States the authority to designate areas of chronic economic distress. Limits the designation of areas of chronic economic distress to 25 percent of the geographic area within a State. Redefines statistical areas to include two or more statistical areas combined. Repeals the registration requirements for bond issues.
United States · United States Congress · 4 June 1981
Repeals a specified provision of the Federal Water Pollution Control Act thereby deleting limits on the use of public treatment works grants for treating, storing, or conveying the flow of industrial users into treatment works.
United States · United States Congress · 2 June 1981
Investment Credit Incentive Act of 1981 - Amends the Internal Revenue Code to allow individuals a nonrefundable income tax credit for contributions to an investment account trust. Permits a credit of ten percent of the sum of the amounts paid in cash or the fair market value of securities transferred during the taxable year to the account. Provides for a maximum credit of $500. Exempts investment account trusts and certain distributions from such trusts from income taxation.
United States · United States Congress · 21 May 1981
Debt Collection Act of 1981 - Amends the Privacy Act of 1974 to permit a Federal agency to disclose individual records to a consumer reporting agency. Authorizes a Federal agency attempting to collect a claim under the Federal Claims Collection Act of 1966 to notify a consumer reporting agency that a person is responsible for a claim if: (1) the agency has sent a written notice informing the person that a consumer reporting agency will be contacted, describing the information to be disclosed, and explaining the person's right to dispute the agency's claim; (2) the person has not agreed to repay the claim or filed for review of the claim; (3) the agency, upon request, has reviewed the claim; and (4) the agency has obtained assurances that the consumer reporting agency complies with Federal laws governing the provision of consumer credit information. Requires the agency to notify the consumer reporting agency promptly concerning any change in the status or amount of the claim. Directs Federal agencies to require any individual applying for credit or financial assistance, which may result in indebtedness to the Government, to furnish his or her social security numbers. Authorizes an agency (including the United States Postal Service) to deduct installment payments from the pay of an employee or member of the Armed Forces or Armed Forces Reserve to offset any debts owed the Government. Limits the amount deducted to 25 percent of the individual's disposable pay. Makes murder or manslaughter of a Federal debt collector a Federal offense. Amends the Internal Revenue Code to authorize the Secretary of the Treasury to disclose to a Federal agency: (1) information concerning the tax liability of a Federal loan applicant; and (2) the mailing address of a taxpayer for use by employees or agents of the agency in collecting or compromising a Federal claim. Increases the rate of interest on delinquent taxes to 100 percent (currently 90 percent) of the prime rate quoted by commercial banks to large businesses. Permits the annual (currently biennial) adjustment of such interest rate. Allows the Government to collect claims by administrative offset beyond the six year statute of limitations on actions brought by the Government for money damages. Directs each agency to charge a minimum annual rate of interest on outstanding debts and to assess a penalty charge and handling costs on delinquent claims, except where another statute, statutorily mandated regulation, loan agreement, or contract either prohibits or explicitly fixes interest or penalty charges. Declares that service of legal process brought for the collection of U.S. claims shall be accomplished in accordance with the Federal Rules of Civil Procedure or as directed by the court. Requires the Director of the Office of Management and Budget to: (1) direct each agency with outstanding debts to submit to the Director and the Department of the Treasury an annual report on the status of the agency's loans and accounts receivable; and (2) report to Congress annually on the management of agency debt collection activities.
United States · United States Congress · 21 May 1981
Amends the Internal Revenue Code to exclude from gross income $1,000 ($2,000 for joint returns) of the interest earned on an All Savers Certificate in taxable years 1981, 1982, and 1983.
United States · United States Congress · 18 May 1981
Malt Beverage Interbrand Competition Act - Declares that no antitrust law shall prohibit the importer, brewer, or trademark licensee of a trademarked malt beverage from entering into an agreement granting a wholesale distributor the exclusive right to sell such beverage within any defined geographic area within a State, or limiting such distributor to the sale of such beverage for ultimate resale to consumers in that area, when such beverage has substantial competition from other malt beverages in that area. Declares that this Act shall not affect any provision of State law.
United States · United States Congress · 12 May 1981
Expanded Ownership Act of 1981 - Amends the Internal Revenue Code to establish, without expiration dates, an investment tax credit percentage income tax for contributions by an employer to a tax credit employee stock ownership plan (ESOP). Sets the amount of such credit at a sum equal to the lesser of: (1) the aggregate value of employer securities transferred for the taxable year to a tax credit ESOP; or (2) one percent of the aggregate compensation paid or accrued during the taxable year to all employees under such a plan. Includes amounts of the credit as part of the investment tax credit amount. Denies business expense, production of income expense, or contribution to deferred-payment plan deductions for amounts required to be transferred to a tax credit ESOP. Allows an employer to take advantage of the investment tax credit even though he or she contributes employer securities to an ESOP with an aggregate value of less than one percent of the qualified investment. Allows an income tax deduction for employer contributions to an ESOP which are applied to the repayment of principal and interest on a loan incurred for the purpose of acquiring qualifying employer securities. Limits the deductible amount for principal contributions to 25 percent of the compensation otherwise paid or accrued to all employees under the plan for the taxable year. Exempts such an ESOP from the limitations otherwise imposed on annual additions to an employee stock ownership plan. Increases the permissible deduction for employer contributions made to both a stock bonus trust and a profit sharing trust if the additional amount deductible is attributable to a contribution of employer stock or amounts used for the acquisition of such stock. Allows an income tax deduction for cash dividends paid with respect to employer stock which is held by a tax credit ESOP or by a former employee or a beneficiary to whom the stock was distributed from a tax credit ESOP or an ESOP. Extends the partial exclusion for dividends received to such amounts. Excludes from the gross income of an ESOP or a tax credit ESOP participant any lump-sum distribution of employer securities (not to exceed $25,000) made from a qualified trust which is part of an ESOP or a tax credit ESOP. Deems contributions, bequests, or similar transfers of employer securities, under certain conditions, to an ESOP or to a tax credit ESOP as a deductible charitable contribution. Provides for nonrecognition of any long-term capital gain from the sale of small business stock to an ESOP, a tax credit ESOP, or a specified type of consumer cooperative, except to the extent that the taxpayer's sale price exceeds the cost of small business stock or small business investment company stock purchased by the taxpayer within 18 months after the date of such sale. Reduces the basis of such stock by the amount not recognized as gain. Prescribes a three-year statute of limitations for the assessment of any deficiency attributable to gain realized by the sale of small business stock. Relieves an estate of liability for payment of the estate tax to the extent that amounts of the tax are attributable to employer securities transferred to an ESOP pursuant to a written agreement guaranteeing that the tax will be paid by the plan in an amount equal to the lesser of: (1) the amount of the tax imposed upon the acquired employer securities; or (2) the amount of the tax imposed on the gross estate reduced by the sum of allowable credits. Permits the payment of such tax in installments. Exempts such transfers from the tax on prohibited transactions. Permits the use of nonvoting stock in tax credit employer stock ownership plans. Permits a tax credit ESOP, where ownership of all outstanding employer securities is restricted to employees, to distribute benefits in cash although it does not permit a participant to exercise the right to demand that benefits be distributed in employer securities. Allows a stock bonus plan which distributes benefits in cash to qualify as a deferred compensation plan if benefits may be distributed in the form of any securities of the employer held by a tax credit ESOP. Allows financial institutions whose securities are not readily tradable to reduce the period for exercise of a put option to a period of at least 60 days following the date of distribution of employer stock and an additional such period in the following plan year. Permits a trust which is part of an ESOP or a tax credit ESOP to be a shareholder in a subchapter S corporation. Permits distributions from a tax credit ESOP of employer securities allocated to a participant's account in the case of a sale of the assets of a division or a sale of the stock of a subsidiary and the transfer of the participant to the employment of the acquiring entity. Includes provision of cafeteria plan benefits in qualified cash or deferred arrangements, for purposes of applying participation and discrimination standards to profit-sharing or stock bonus plans.
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