A joint resolution to designate the month of September 1994 as "National Sewing Month".
United States · United States Congress · 2 March 1994
Designates the month of September 1994 as National Sewing Month.
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United States · United States Congress · 2 March 1994
Designates the month of September 1994 as National Sewing Month.
United States · United States Congress · 10 February 1994
Designates March 20, 1994, as National Agriculture Day.
United States · United States Congress · 10 February 1994
Designates June 4, 1994, as National Trails Day.
United States · United States Congress · 31 January 1994
Designates April 1994 as Civil War History Month.
United States · United States Congress · 27 January 1994
Amends the Omnibus Budget Reconciliation Act of 1993 to provide that the initial month for which a cost of living increase in retired pay that becomes effective on December 1 of 1993 through 1995 is payable shall be March of the following year.
United States · United States Congress · 25 January 1994
Amends the Internal Revenue Code to exclude from gross income any qualified education savings account. Describes such account as a trust created pursuant to a State educational savings plan and used exclusively to pay the higher education expenses of the designated beneficiary. Treats such State plans as tax-exempt organizations and treats contributions to such plans as charitable contributions. Declares that contributions to such accounts are not subject to the gift tax. Imposes penalty taxes in connection with reporting requirements or prohibited transactions associated with an account. Excludes distributions from such accounts when determining support for dependents.
United States · United States Congress · 22 November 1993
Designates April 1994 as National Sudden Infant Death Syndrome Awareness Month.
United States · United States Congress · 19 November 1993
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 1993 - 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 (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 Corporation - Subtitle A: Once 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 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 own more than 80 percent of another corporation's stock. Repeals the requirement that partnership rules apply for fringe benefit purposes (making C corporation rules applicable). 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 need to keep records of certain generally small amounts of earnings arising before 1983. Allows S corporations to make charitable contributions of inventory and scientific property. Title III: Taxation of S Corporation Shareholders - 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 after December 31, 1993.
United States · United States Congress · 19 November 1993
Equitable Escheatment Act of 1993 - Amends specified Federal law to prescribe guidelines under which unclaimed distributions of security interests shall be subject to the custodial taking (escheatment) by the State which contains the principal executive offices of either the issuer or the holder of those securities.
United States · United States Congress · 19 November 1993
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 · 16 November 1993
Expresses the sense of the Senate that the President should take all appropriate actions necessary to secure the compliance of the Government of Libya with United Nations Security Council Resolution 731 (regarding the bombing of Pan American Airways Flight 103), including, if necessary, the imposition of an embargo on oil produced in Libya.
United States · United States Congress · 10 November 1993
Designates December 21, 1993, as the Fifth Anniversary Day of Remembrance for the Victims of the Bombing of Pan Am Flight 103.
United States · United States Congress · 8 November 1993
Amends the Depository Institution Management Interlocks Act to repeal the 15-year expiration date for exemptions from its requirements regarding the service of certain management officials.
United States · United States Congress · 4 November 1993
Directs the Senate Committee on Rules and Administration to prepare a revised edition of the Senate Election Law Guidebook to be printed as a Senate document.
United States · United States Congress · 26 October 1993
Independent Safety Board Act Amendments of 1993 - Amends the Independent Safety Board Act of 1974 to authorize appropriations for FY 1994 through 1996 for the National Transportation Safety Board.
United States · United States Congress · 5 October 1993
Calls for: (1) the President to encourage the United Nations (UN) to permit representatives of Taiwan to participate fully in UN activities; and (2) cabinet-level exchanges between Taiwan and the United States.
United States · United States Congress · 4 October 1993
Designates the third Sunday in November of 1993 as National Children's Day.
United States · United States Congress · 24 September 1993
Federal Aviation Administration Authorization Act of 1993 - Amends the Airport and Airway Improvement Act of 1982 (the Act) to authorize appropriations for FY 1994 for airport development and airport planning projects. Earmarks specified amounts to a discretionary fund under certain circumstances. (Sec. 3) Makes the acquisition or installation by a public-use airport of explosive detection devices and universal access systems an "airport development" activity. (Sec. 4) Authorizes the Secretary of Transportation (Secretary) to continue issuing letters of intent with respect to the obligation of funds for airport development projects. (Sec. 5) Directs the Secretary to establish a program to purchase and reserve an inventory of precision approach instrument landing system equipment for installation at airports. Prohibits the use of airway improvement funds for the development or procurement of microwave landing systems, except as necessary to meet Government contracts in effect on January 1, 1994. (Sec. 7) Amends the Federal Aviation Act of 1958 to authorize the Administrator of the Federal Aviation Administration (FAA) to provide safety-related training and operational services to foreign aviation authorities, with or without reimbursement, if such services promote aviation safety. Authorizes the Administrator to collect fees for providing as a service any test, authorization, certificate, permit, rating, evaluation, approval, or review outside of the United States. (Sec. 9) Directs the Administrator to review the FAA's personnel administration, procurement process, and overall organization structure. (Sec. 11) Prohibits the Administrator of the FAA from publishing, or contracting with any other organization for the publishing of, the "Aviation Safety Journal." (Sec. 12) Amends the Federal Aviation Act of 1958 to prohibit the Secretary from taking a slot at a high density airport from a domestic air carrier and awarding it to a foreign air carrier if it is determined that domestic air carriers are not provided equivalent rights of access to the foreign air carrier's airport. (Sec. 13) Prohibits an air carrier from terminating air transportation to any point unless it gives at least 60 days notice to the Secretary, appropriate State agency, and each affected community. Sets forth civil penalties for violating this prohibition. (Sec. 14) Authorizes the Administrator to enter into cooperative agreements with Federal and non-Federal entities to promote aviation research, engineering, and development, including the development of prototypes and demonstration models. (Sec. 15) Directs the Secretary to study the safety of the approaches to the Juneau International Airport, Alaska. (Sec. 16) Authorizes the Secretary to grant releases from any of the terms, conditions, reservations, and restrictions contained in the conveyance of certain U.S. property to the city of Soldotna, Alaska, for airport purposes.
United States · United States Congress · 20 September 1993
Air Service Termination Notice Act of 1993 - Amends the Federal Aviation Act of 1958 to prohibit an air carrier (except in a sudden and unforeseen financial emergency) from terminating air service to any point without first giving the Secretary of Transportation, appropriate State agency, and affected community at least 90 days' notice before such termination. Sets forth civil penalties for violation of this prohibition.
United States · United States Congress · 6 August 1993
Increases from $200 to $500 the monthly special pension payable to persons named to the Medal of Honor Roll. Includes losses sustained on the resale of property in the net-value calculation for purposes of provisions regarding defaults on veterans' loans. Provides for a permanent extension of the authority of such provisions.
United States · United States Congress · 6 August 1993
Designates September 1993 as Childhood Cancer Month.
United States · United States Congress · 6 August 1993
Requests the Occupational Safety and Health Administration to publish, within one year, proposed amended regulations that specify the components of an adequate operator training program and that provide that only trained employees be authorized to operate powered industrial trucks.
United States · United States Congress · 4 August 1993
Natural Disaster Protection Act of 1993 - Amends the Earthquake Hazards Reduction Act of 1977 to require the Director of the Federal Emergency Management Agency to: (1) identify States that are prone to damages from hurricanes, windstorms, earthquakes, volcanic eruptions, tidal waves, and flooding (natural disasters); and (2) designate the appropriate States as hurricane-prone, windstorm-prone, earthquake-prone, volcanic eruption-prone, or flood-prone. Requires the Governor of each State designated as hurricane-, windstorm-, or earthquake-prone to: (1) adopt the relevant natural disaster hazard mitigation portions of the newest building codes for such State for all new and substantially modified building construction in such State; and (2) certify that the local communities have adopted and are enforcing appropriate hazard mitigation building codes. Provides similar procedures for States designated as flood-prone. Requires each State designated as disaster-prone to develop a hazard mitigation plan with accompanying schedules for improving the State's ability to reduce the hazards of future natural disasters. Requires each State designated as disaster-prone to submit a completed plan to the Director within two years of such designation. Outlines State compliance procedures, and imposes penalties upon States and local communities for hazard mitigation plan noncompliance. Requires the Director to develop programs to carry out specified multihazard mitigation and emergency initiatives, especially as such initiatives relate to modern building codes, hazard mitigation technology, and emergency response operations. Establishes the Self-Sustaining Mitigation Fund for Federal and State support of hazard mitigation and emergency management activities, with amounts provided by the Director to each disaster-prone State for appropriate purposes. Establishes the Natural Disaster Mitigation and Planning Advisory Committee as an independent advisory committee to advise the Director on hazard mitigation and disaster planning, and to review hazard mitigation regulations issued by the Director. Requires the Director to establish and carry out a national multihazard insurance program (the Primary Insurance Program) to provide insurance against real or personal property loss in any State resulting from an earthquake or volcanic eruption. Requires the Director to evaluate the feasibility of including flood as a covered peril under the Primary Insurance Program. Requires an evaluation report. Outlines specified procedures for increased participation in the Federal flood insurance program under the National Flood Insurance Act of 1968, with a required report. Outlines further provisions with respect to the Primary Insurance Program, including program scope (initially limited to residential housing), terms and limitations, covered hazards, and insurance actuarial rates. Establishes in the Treasury the Primary Insurance Program Fund to carry out such Program. Provides for Fund uses, investments, and disbursements, authorizing the Director, when necessary, to borrow from the Treasury for Fund purposes. Requires the Director, in carrying out the Program, to provide certain insurance mitigation incentives, including the charging of lower premiums for residential property located in disaster-prone States. Requires the Director to make available to eligible entities excess reinsurance coverage for any direct and indirect losses that arise from a hurricane, earthquake, volcanic eruption, or tsunami (tidal wave). Outlines provisions concerning eligible entities and reinsurance coverage terms, limitations, and obligations, including the covered lines of insurance. Requires the establishment of actuarially sound rates for such coverage. Establishes in the Treasury the Reinsurance Fund for implementation of such reinsurance coverage. Requires the Director to develop a plan of operation to ensure the fair, reasonable, and equitable administration of the Primary Insurance Prograrm Fund, the Reinsurance Fund, and other activities outlined in this Act. Establishes the Federal Insurance and Reinsurance Advisory Committee as an independent committee and requires the plan to be submitted to such Committee for review and recommendations. Requires a Committee report.
United States · United States Congress · 3 August 1993
Designates March 1994 as Irish-American Heritage Month.
United States · United States Congress · 30 July 1993
Directs the President to: (1) investigate and report to the Congress on the whereabouts of U.S. citizens and others who have been missing from Cyprus since 1974; and (2) do everything possible to return such persons (including remains of those no longer alive) to their families.
United States · United States Congress · 22 July 1993
Landmine Moratorium Extension Act of 1993 - Declares that it is U.S. policy to seek international agreements prohibiting the sale, transfer, or export, and terminating the manufacture, possession, and use, of antipersonnel landmines. Expresses the sense of the Congress that: (1) the President should submit the 1980 Convention on Certain Conventional Weapons to the Senate for ratification; and (2) the Administration should negotiate a modification of the Landmine Protocol under United Nations auspices or another international agreement to limit the sale, transfer, manufacture, and use of landmines. Prohibits for three years after this Act's enactment: (1) sales, financing, transfers, and the issuance of licenses under the Arms Export Control Act with respect to antipersonnel landmines; and (2) assistance under the Foreign Assistance Act of 1961 with respect to the provision of such landmines.
United States · United States Congress · 22 July 1993
Designates November 22, 1993, as National Military Families Recognition Day.
United States · United States Congress · 16 July 1993
Disability Rights in American Foreign Policy Act of 1993 - Declares that it is the purpose of this Act to promote recognition of the human rights of people with disabilities and the elimination of discrimination against such people. Amends the Foreign Assistance Act of 1961 to include within the Secretary of State's annual human rights report an examination of discrimination toward people with disabilities.
United States · United States Congress · 13 July 1993
Designates August 1, 1993, as Helsinki Human Rights Day. Authorizes the President to reassert America's commitment to the Helsinki Accords and requests him to: (1) convey to all signatories of the Accords that respect for human rights and fundamental freedoms is a vital element of further progress in the ongoing Helsinki process; and (2) develop new proposals to advance the human rights objectives of such process to address the major problems that remain.
United States · United States Congress · 24 June 1993
Commission on the Airplane Crash at Gander, Newfoundland, Act - Establishes in the legislative branch of the Government the Commission on the Airplane Crash at Gander, Newfoundland. Directs the Commission to investigate, study, and report to the President and the Congress on the circumstances surrounding the crash of an Arrow Airlines airplane near Gander, Newfoundland, Canada, on December 12, 1985.
United States · United States Congress · 23 June 1993
Recognizes the notable contributions made by Thomas L. Nottingham, Chief of the U.S. Capitol Guide Service, to the Senate and to his country. Expresses appreciation and gratitude for his service.
United States · United States Congress · 17 June 1993
Extends eligibility for burial in a national cemetery to any member or former member of the armed forces (and his or her dependents) who has performed at least 20 years of service under honorable conditions and who is eligible for retired pay.
United States · United States Congress · 16 June 1993
Designates August 1993 and August 1994 as National Scleroderma Awareness Month.
United States · United States Congress · 15 June 1993
Designates the month of October in 1993 and 1994 as Country Music Month.
United States · United States Congress · 8 June 1993
Designates September 9, 1993, and April 21, 1994, as National DARE (Drug Abuse Resistance Education) Day.
United States · United States Congress · 27 May 1993
Aviation Revitalization Act of 1993 - Amends the Federal Aviation Act of 1958 to authorize the Secretary of Transportation (Secretary) to guarantee loans to eligible air carriers to finance the acquisition of new aircraft and encourage the retirement of older or Stage two aircraft.
United States · United States Congress · 27 May 1993
Amends the Harmonized Tariff Schedule of the United States to extend, through December 31, 1997, the suspension of duty on certain bicycle parts and accessories. Amends the Foreign Trade Zones Act to extend, through December 31, 1997, the exemption from the customs laws for bicycle component parts that are reexported from the United States, whether or not in the original package, as components of a completely assembled bicycle.
United States · United States Congress · 26 May 1993
Amends the Internal Revenue Code to permit an individual taxpayer an income tax deduction for travel, meals, lodging, transportation, and uniform expenses paid or incurred in connection with the taxpayer's performance of services as a member of the armed forces reserves or the National Guard.
United States · United States Congress · 26 May 1993
Authorizes the Senate Legal Counsel to represent the Committee on the Judiciary, its chairman, Senator Orrin G. Hatch, and the other members of the Committee in the case of Committee for Judicial Review v. The United States Senate Committee on the Judiciary, Senator Orrin Hatch.
United States · United States Congress · 25 May 1993
Small Manufacturers' Renewal and Training Act of 1993 - Requires the Director of the National Institute of Standards and Technology to carry out the Small Manufacturers Renewal and Training Program for awarding grants to manufacturing outreach centers to give undergraduate engineering students the opportunity to work as interns with small manufacturing companies. Sets forth provisions regarding: (1) eligible entities; (2) grant duration and renewal; (3) grant priorities; and (4) funding limitations. Requires the: (1) Director to solicit and evaluate grant proposals from such centers, collect information regarding program performance, and coordinate Program activities with other Federal programs for manufacturing and technology extension; and (2) Secretary of Commerce to establish criteria for evaluating grant proposals. Sets forth provisions regarding the respective roles of manufacturing outreach centers, host companies, and interns in the Program. Requires the Director to solicit qualified engineering students from underrepresented groups for participation in the Program. Authorizes appropriations.
United States · United States Congress · 24 May 1993
Amends the Federal Election Campaign Act of 1971 to authorize appropriations for the Federal Election Commission.
United States · United States Congress · 24 May 1993
Many Neighbors, One Earth Resolution - Urges the President to develop and implement a coordinated economic and development policy and program of action designed to promote broadbased, sustainable development. Specifies that such policy and program should have as principal objectives: (1) expanding economic opportunities; (2) meeting basic human needs; (3) promoting environmental protection and sustainable use of natural resources; and (4) promoting pluralism, democratic participation, and human rights. Specifies that such policy and program should involve all relevant international activities of the U.S. Government. Urges specific actions that the President should take, including: (1) working with the Congress to enact legislation providing for a post-Cold War foreign assistance program that would have as its primary purpose the promotion of sustainable development; (2) ensuring that development cooperation programs, conform to such objectives in ways that invigorate local community-based development through taking into account relevant local perspectives of its beneficiaries during the design, planning, implementation, and evaluation process for project and program assistance; (3) providing government-to-government assistance only to countries that exhibit a commitment to development that promotes such objectives, with priority to countries with the highest incidence of hunger and poverty; and (4) encouraging and supporting the efforts of countries to reduce their levels of military spending when such spending is disproportionate to security needs and spending on health, education, and environmental protection.
United States · United States Congress · 20 May 1993
Authorizes the Committee on Rules and Administration to expend a specified amount for the purchase of 1994 "We The People" calendars.
United States · United States Congress · 19 May 1993
TABLE OF CONTENTS: Title I: Initiatives Within the Department of the Interior Title II: Initiatives Within the Department of Energy Lower Mississippi Delta Initiatives Act of 1993 - Title I: Initiatives Within the Department of the Interior - Directs the Secretary of the Interior (the Secretary) to: (1) establish a scholarship program for natural resource and environmental studies; (2) encourage pre-college enrichment programs in designated subject areas; (3) implement a volunteer education enrichment program in cooperation with State departments of education and local school districts in the Lower Mississippi Delta Region (the Delta Region); and (4) implement a program to encourage women and minorities in the Delta Region to pursue science careers. (Sec. 103) Directs the Secretary to transmit to the Congress: (1) a study of nationally significant sites within the Delta Region; (2) recommendations for a transportation network linking such sites; and (3) a study outlining recommendations for funding Native American and Delta African American Heritage Routes and Centers. (Sec. 105) Directs the Secretary to provide technical and financial assistance to historically Black colleges and universities to undertake a survey of historic and prehistoric structures on campus. Title II: Initiatives Within the Department of Energy - Directs the Secretary of Energy (the Secretary) to establish the Delta Energy Technology and Business Development Center (the Center). Authorizes the Secretary to make grants to the Center. (Sec. 203) Amends the Energy Policy and Conservation Act to require the Secretary to make grants to schools or hospitals for energy conservation projects, and to provide supplemental Federal financing for energy conservation projects at schools and hospitals in the Delta Region. Authorizes appropriations. (Sec. 204) Requires the Secretary to: (1) report annually to certain congressional committees regarding opportunities for minority colleges and universities to participate in Department of Energy (DOE) activities and laboratories; (2) encourage partnerships involving minority colleges or universities, or private sector entities owned or controlled by disadvantaged individuals; (3) establish scholarship programs for students pursuing energy-related and/or technical disciplines either at minority colleges and universities, or at colleges and universities in the Delta Region; (4) encourage pre-college enrichment programs in energy-related and/or technical disciplines; (5) implement a volunteer program for education enrichment at DOE; and (6) implement a program to encourage women and minorities in the Delta Region to pursue careers in technical disciplines. (Sec. 205) Directs the Secretary to conduct a research and demonstration program to determine the economic viability of integrated biomass energy systems within the Delta Region. Authorizes appropriations. (Sec. 206) Amends the Energy Conservation and Production Act to direct the Secretary to make grants to States and Indian tribal organizations in the Delta Region for weatherization of low-income dwelling units. Authorizes appropriations.
United States · United States Congress · 19 May 1993
Designates October 1993 as National Breast Cancer Awareness Month.
United States · United States Congress · 18 May 1993
Expresses the sense of the Congress that: (1) an appropriate commemoration of the 50th anniversary of the Mariana Islands campaign of World War II should be planned; and (2) the Secretary of the Interior should take steps to ensure by June 15, 1994, the completion of a visitor center at the War in the Pacific National Historical Park, Guam, and one at the American Memorial Park, Saipan, for the interpretation of the campaign. Increases the authorizations of appropriations for such Parks.
United States · United States Congress · 7 May 1993
Commends radio amateurs for their contributions to technical progress in electronics and for their emergency radio communications in times of disaster. Urges the Federal Communications Commission to continue and enhance the development of the amateur radio service as a public benefit by adopting rules and regulations which encourage the use of new technologies within the amateur radio service. Declares that reasonable accommodation should be made for effective operation of amateur radio from residences, private vehicles and public areas and that regulation at all levels of government should facilitate and encourage amateur radio operation as a public benefit.
United States · United States Congress · 6 May 1993
Designates July 1, 1993, as National NYSP (National Youth Sports Program) Day.
United States · United States Congress · 22 April 1993
United States-China Act of 1993 - Prohibits the President from recommending for a 12-month period in 1994 continuation of a waiver of human rights and emigration requirements for nondiscriminatory treatment (most-favored-nation treatment) for China under the Trade Act of 1974 unless the President reports to the Congress that China has: (1) taken steps to adhere to the Universal Declaration of Human Rights in China and Tibet and allowed the unrestricted emigration of Chinese citizens who desire to leave for reasons of political or religious persecution; (2) accounted for and released prisoners who dissented in Tiananmen Square on June 4, 1989, and other citizens detained for the nonviolent expression of their political beliefs or the exercise of internationally guaranteed rights of freedom of speech, association, and assembly; and (3) prevented the export to the United States of products manufactured by convict or forced labor. Requires such report to state whether China has made significant progress in: (1) ceasing religious persecution in China and Tibet and releasing religious leaders incarcerated as a result of the expression of their religious beliefs; (2) ceasing financial and other incentives to encourage non-Tibetans to relocate in Tibet; (3) ceasing unfair trade practices which restrict American business; (4) providing U.S. exporters fair access to Chinese markets, including lowering tariffs, removing nontariff barriers, and increasing the purchase of U.S. goods and services; (5) adhering to the Missile Control Technology Regime, the Nuclear Suppliers Group controls and the Australian Group on Chemical and Biological Arms controls; (6) adhering to the Joint Declaration on Hong Kong; (7) accounting for U.S. military personnel listed as prisoners of war or missing in action with respect to the Korean and Vietnam conflicts; (8) ceasing the jamming of Voice of America broadcasts; and (9) providing humanitarian groups access to prisoners and places of detention. Requires the President, if he recommends such extension, to report on the extent of China's compliance with the above-mentioned objectives. Grants nondiscriminatory treatment to products produced by nonstate-owned enterprises in China. Declares that despite China's entry into the General Agreement on Tariffs and Trade (GATT) its most-favored-nation treatment status shall be governed by the Trade Act of 1974. Requires the President, if he decides not to seek such extension, to ensure that members of the GATT take similar action with respect to China.
United States · United States Congress · 22 April 1993
Interstate Banking Act of 1993 - Amends the Bank Holding Company Act of 1956 to authorize the Board of Governors of the Federal Reserve System (the Board) to permit an adequately capitalized and adequately managed bank holding company to acquire existing out-of-State banks, whether or not the host State permits such transactions. Permits an adequately capitalized and adequately managed bank holding company to combine into a single bank its subsidiary banks which are located in more than one State. Permits a host State to levy a bank shares tax upon an out-of-State bank with branches within the host State. Subjects national or State bank branches to the regulatory scheme of the host State. Grants the States a specified period within which to elect to either permit or prohibit interstate combinations of bank holding company subsidiaries within their borders. Amends the Federal Deposit Insurance Act to authorize host State regulatory authorities to enter into cooperative agreements to coordinate their examination of out-of-State bank branches. Authorizes a State to enact laws expressly permitting adequately capitalized and adequately managed out-of-State banks to establish new branches within its borders. Amends Federal banking law to authorize the Comptroller of the Currency to approve interstate branching by a national bank if the law of the host State expressly permits such activity. Amends the Community Reinvestment Act of 1977 to include within its purview evaluations of the interstate branches of regulated financial institutions. Amends Federal banking law to permit State taxing authorities to review the records of a federally chartered depository institution for State tax purposes. Amends the Home Owners' Loan Act to set as a prerequisite for interstate branching by Federal savings associations the approval of the Director of the Office of Thrift Supervision.