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![Official portrait of Sen. Garn, E. J. (Jake) [R-UT]](https://www.congress.gov/img/member/g000072_200.jpg)
United States · Official source
2,259 records where Sen. Garn, E. J. (Jake) [R-UT] is listed as a sponsor, author, or other actor. Search with topics and years
United States · United States Congress · 1 May 1989
Designates May 29, 1989, as the National Day of Remembrance for the Victims of the U.S.S. Iowa.
United States · United States Congress · 19 April 1989
Radiation Exposure Compensation Act - Establishes in the Treasury the Atmospheric Nuclear Testing Compensation Trust Fund for claims for injuries and death due to exposure to radiation from nuclear testing or uranium mining in Utah, Nevada, Arizona, Colorado, and New Mexico during certain time periods. Confers exclusive jurisdiction upon the Atmospheric Nuclear Testing Compensation Trust Fund Board of Directors to process personal injury claims and payments. Subjects any findings and awards made by the Board to judicial review. Prescribes guidelines for Board determination of compassionate claims relating to open air nuclear testing and uranium mining in specified areas. Sets forth a statute of limitations for filing claims and restricts the amount of attorney's fees which may be received. Insulates the award of damages from insurance claims or payments. Declares the Federal Tort Claims Act inapplicable to radiation compensation actions and imposes liability upon the United States regarding such claims to the same extent as a private individual under like circumstances.
United States · United States Congress · 19 April 1989
Designates the week of October 8 through October 14, 1989, as National Week of Commitment to Helping the Homeless.
United States · United States Congress · 19 April 1989
Designates October 5, 1989, as Raoul Wallenberg Recognition Day.
United States · United States Congress · 19 April 1989
Designates October 3, 1989, as National Teacher Appreciation Day.
United States · United States Congress · 19 April 1989
Directs the United States Postal Service to issue a commemorative postage stamp to honor the public service of Doctor Thomas Anthony Dooley III.
United States · United States Congress · 18 April 1989
Enhanced Oil and Gas Recovery Tax Act of 1989 - Amends the Internal Revenue Code to set a depletion allowance of 27.5 percent in connection with domestic oil and natural gas recovered through enhanced recovery techniques. Reduces this percentage (but not below 15 percent) as the average annual removal price during the calendar year exceeds $30 (indexed for inflation). Terminates this provision with respect to production after 2009. Increases from 50 percent to 100 percent the net income limitation on percentage depletion in connection with incremental tertiary oil or natural gas. Makes the alternative minimum tax preferences for percentage depletion and intangible drilling costs in connection with oil and gas removed through enhanced recovery methods inapplicable whenever the average annual removal price for the year is less than $30 (indexed for inflation). Terminates this provision with respect to production or costs after 2009. Permits a ten percent income tax credit for research to discover or improve tertiary recovery methods for domestic crude oil or natural gas.
United States · United States Congress · 18 April 1989
Designates October 7 through October 14, 1989, as National Week of Outreach to the Rural Disabled.
United States · United States Congress · 18 April 1989
Designates February 18 through February 24, 1990, as National Visiting Nurse Associations Week.
United States · United States Congress · 13 April 1989
Natural Gas Wellhead Decontrol Act of 1989 - Amends the Natural Gas Policy Act of 1978 to declare that the price guidelines for the first sale of natural gas do not apply to: (1) expired (and expiring) or terminated (and terminating) contracts and any contracts executed after enactment of this Act; and (2) certain renegotiated contracts. Repeals wellhead price controls as of January 1, 1993.
United States · United States Congress · 11 April 1989
Declares that the purpose of this Act is to implement the Bipartisan Accord on Central America of March 24, 1989. Authorizes the President to transfer to the Agency for International Development (AID) unobligated funds from specified defense appropriations accounts for: (1) humanitarian assistance (including transportation expenses) to the Nicaraguan Resistance to be available through February 28, 1990; and (2) operating expenses of AID. Limits the total amount of funds that may be transferred for such purposes. Requires the transportation of such assistance to be arranged solely by AID in a manner consistent with the Bipartisan Accord. Prohibits the transportation of any assistance not specified by this Act. Authorizes the President to transfer to AID an additional amount from the specified accounts for medical assistance for the civilian victims of Nicaraguan civil strife. Requires such assistance to be transported and administered by the Nicaraguan Catholic Church. Encourages the President to submit proposals for actions to: (1) provide additional economic assistance to the democratic countries of Central America; (2) facilitate the ability of Central American economies to grow through the development of infrastructure, expansion of exports, and increased investment opportunities; (3) provide a plan to assist Central American countries in managing debt; and (4) develop such initiatives in concert with Western Europe, Japan, and other democratic allies. Prohibits the obligation or expenditure of funds available under this Act to assist the Nicaraguan Resistance in military or paramilitary operations. Prohibits providing assistance under this Act to any group including an individual who has been found to engage in: (1) gross violations of internationally recognized human rights; or (2) drug smuggling or significant misuse of funds. Grants congressional oversight for assistance under this Act to specified congressional committees. Applies provisions of a specified Act concerning management and delivery of assistance to the Nicaraguan Resistance to assistance under this Act. Prohibits additional assistance to the Nicaraguan Resistance unless authorized specifically by a subsequent Act. Repeals title IX (Assistance for the Nicaraguan Resistance) of the Department of Defense Appropriations Act, 1989. Requires the Secretary of State to report to the Congress on progress in the peace and democratization process, including the use of assistance under this Act.
United States · United States Congress · 7 April 1989
Animal Research Facilities Protection Act of 1989 - Makes it unlawful for any person to: (1) release, steal, or intentionally cause the loss of any research facility animal; (2) damage, vandalize, or steal any animal research facility property; (3) falsely obtain access to any research facility for unauthorized purposes; (4) break into a facility with an intent to destroy, alter, duplicate, or obtain unauthorized possession of records, equipment, or animals; (5) gain control over or to use the records, material, data, equipment, or animals of any such facility knowing or reasonably believing that they have been obtained by theft or deception; or (6) enter or remain on a research facility with the intent to commit an act prohibited by this Act. Imposes a $5,000 fine and/or one year imprisonment for violations of this Act. Provides for a private right of action for any research facility injured in its business or property by a violation of this Act. Directs the Secretary of Agriculture and the Attorney General to jointly conduct a study on the extent and effects of domestic and international terrorism on facilities in which animals are used for research, food production, exhibition, or pets and to submit a report on the results of such study to certain congressional committees.
United States · United States Congress · 6 April 1989
Amends the Water Resources Research Act of 1984 to reauthorize the grant program for water resources research and technology institutes on a dollar-for-dollar matching basis for FY 1989 through 1993. Requires that such funds be used only for the reimbursement of direct cost expenditures incurred for the conduct of the water resources research program. Directs the Secretary of the Interior to conduct an evaluation of each institute every five years to determine if it qualifies for further support. (Currently the Secretary must make such determination every four years.) Extends the authorization of appropriations for the grant program from FY 1989 through 1993. Authorizes appropriations for FY 1989 through 1993 only for the reimbursement of the direct cost expenses of additional research by institutes which focuses on water problems and issues of a regional or interstate nature beyond those of concern only to a single State and which relates to specific program priorities identified jointly by the Secretary and the institutes. Requires such funds when appropriated to be matched on a not less than dollar-for-dollar basis by non-Federal sources. Extends the authorization of appropriations from FY 1989 through 1993 for the matching grant research program concerning any aspect of a water resource-related problem which the Secretary deems to be in the national interest. Authorizes appropriations to extend the technology grant program from FY 1989 through 1993. Requires rules and regulations issued prior to the date of enactment of the Water Resources Research Act of 1984 to remain in effect until superseded by new rules and regulations promulgated under this Act.
United States · United States Congress · 6 April 1989
Expresses the Senate's confidence, hope, and trust for those who will serve in the Senate during its third century.
United States · United States Congress · 5 April 1989
Designates July 2, 1989, as National Literacy Day.
United States · United States Congress · 5 April 1989
Expresses the sense of the Senate: (1) against the new nondiscrimination requirements for coverage and benefits under certain statutory employee benefit plans (Internal Revenue Code section 89); and (2) requesting the House of Representatives immediately to adopt and send to the Senate for consideration a bill to repeal or modify substantially such section.
United States · United States Congress · 4 April 1989
Designates the week of September 10 through September 16, 1989, as National Check-Up Week.
United States · United States Congress · 4 April 1989
Designates April 28, 1989, as Flight Attendant Safety Professionals' Day.
United States · United States Congress · 17 March 1989
Title I: Statehood Centennial Coin - Statehood Centennial Commemorative Coin Act of 1989 - Directs the Secretary of the Treasury to mint and issue not more than a specified number of one-dollar silver coins and five-dollar palladium coins in commemoration of the 100th anniversary of the statehood of Idaho, Montana, North Dakota, South Dakota, Washington, and Wyoming. Sets forth certain features of such coins and provides for their design, issuance, and sale. Requires the Secretary to provide a specified amount of all surcharges to the Documents West exhibition program with the remaining amount of surcharges to be deposited in the Treasury to be used to reduce the national debt. Requires the Secretary to obtain silver for the one-dollar coins only from stockpiles established under the Strategic and Critical Materials Stock Piling Act. Requires the Secretary to obtain palladium for the five-dollar coins by purchase of palladium mined and refined in the United States. Grants the Comptroller General the right to examine records and other data of the Idaho Centennial Commission. Title II: Silver Proof Sets - Silver Coin Proof Set Act - Authorizes the Secretary to mint and issue silver coin proof sets. Sets forth certain specified features of such coins and provides for their sale to the public. Requires the Secretary to obtain silver for such coins by purchase from stockpiles established under the Strategic and Critical Materials Stock Piling Act and from Treasury stocks on hand.
United States · United States Congress · 17 March 1989
Repeals estate tax provisions of the Internal Revenue Code with respect to inclusion in the gross estate of the value of certain types of transfers with a retained life estate. Applies the repeal retroactively in connection with property transferred after December 17, 1987.
United States · United States Congress · 17 March 1989
Public Protection From Passive Smoke Act - Title I: Smoke Free Certifications - Amends the Public Health Service Act to require that any vessel at any port (currently at any foreign port) departing for any port in a State or possession obtain a bill of health. Directs the Surgeon General to prescribe regulations to require that domestic vessels, as a part of the bill of health, certify that they do not involuntarily expose the public to the byproducts produced by lighted tobacco. Defines "domestic vessel" to mean any regularly scheduled interstate public conveyance, including air, rail, or bus service. Subjects to monetary penalties any vessel or individual, including a passenger, who violates these provisions or who violates any prohibition on smoking enacted by any vessel under these provisions. Title II: General Health Information Concerning Smoking - Amends the Public Health Service Act to direct the Secretary of Health and Human Services to establish: (1) a program to inform the public of dangers to human health presented by cigarette smoking; and (2) an Interagency Committee on Smoking and Health. Requires each person who manufactures, packages, or imports cigarettes to annually provide the Secretary with a list of the ingredients added to tobacco that does not identify the company or brand involved. Directs the Secretary to submit to the appropriate committees of the Congress a report on the additives. Requires information provided to the Secretary to be treated as a trade secret and prohibits its disclosure, except to such committees. Title III: Health Information Concerning Smokeless Tobacco - Amends the Public Health Service Act to direct the Secretary of Health and Human Services to establish a program to inform the public of dangers to human health resulting from the use of smokeless tobacco products. Authorizes the Secretary to provide technical assistance and make grants to States to: (1) assist in the development and distribution of programs, materials, and public service announcements respecting the dangers to health from smokeless tobacco; and (2) establish 18 as the minimum age for the purchase of smokeless tobacco. Requires each person who manufactures, packages, or imports smokeless tobacco products to annually provide to the Secretary: (1) a list of ingredients added to the tobacco that does not identify the company or brand involved; and (2) a specification of the quantity of nicotine in each product. Directs the Secretary to submit to the appropriate committees of the Congress a report on the additives. Requires information provided to the Secretary to be treated as a trade secret and prohibits its disclosure, except to such committees. Repeals specified provisions of the Comprehensive Smoking Education Act and the Comprehensive Smokeless Tobacco Health Education Act of 1986. Places provisions similar to those repealed in this Act, except for repealed provisions of such Smokeless Tobacco Act relating to enforcement, regulations, and construction.
United States · United States Congress · 16 March 1989
Hydroelectric Fairness Act of 1989 - Amends the Federal Power Act to prohibit the Federal Energy Regulatory Commission from issuing a license for the operation of any existing hydroelectric project located on non-navigable waters and unimproved since August 26, 1935, to anyone but the project's owner.
United States · United States Congress · 16 March 1989
General Aviation Accident Liability Standards Act of 1989 - Declares that this Act supersedes any State law regarding liability for general aviation accidents. Establishes guidelines for uniform standards of liability of general aviation manufacturers for general aviation accidents. States that all actions for harm arising out of a general aviation accident shall be governed by the principles of comparative responsibility. Establishes, with specified exceptions, a limitation of actions period of 20 years from delivery of aircraft or harm-causing part to the purchaser for general aviation civil liability brought against a general aviation manufacturer. Declares admissible as evidence certain income tax and payroll tax liability for purposes of establishing financial harm arising out of a general aviation accident. Permits the award of punitive damages if a claimant establishes by clear and convincing evidence that the harm suffered was the direct result of conduct manifesting conscious, flagrant indifference to safety. Establishes a two-year limitation of actions period for actions arising out of a general aviation accident. Declares the intent of the Congress that sanctions be strictly enforced for violations of Rule 11 of the Federal Rules of Civil Procedure, including orders to pay to the other party the reasonable costs of legal fees. Confers original jurisdiction upon the Federal district courts, concurrently with State courts, for all civil actions for harm arising out of a general aviation accident. Provides procedures for removal from State to Federal district courts of such actions.
United States · United States Congress · 16 March 1989
Natural Gas Regulatory Reform Act of 1989 - Title I: Decontrol of Natural Gas - Amends the Natural Gas Policy Act of 1978 to repeal wellhead price controls on natural gas sales. Exempts the first sales of natural gas from the provisions of the Natural Gas Act. Makes such deregulation effective January 1, 1993. Title II: Transitional Provisions - Eliminates price controls for certain natural gas sales contracts that: (1) are executed after this Act's enactment; (2) are renegotiated after this Act's enactment; or (3) will end or have ended after this Act's enactment.
United States · United States Congress · 16 March 1989
Authorizes the President to transfer a specified amount of unobligated funds of the Department of Defense for nonlethal assistance to the Nicaraguan democratic resistance that includes: (1) economic assistance for specified administrative costs; (2) gasoline, fuel, and spare parts for aircraft; (3) communication radios with batteries; (4) clothing; (5) political and civic action education programs; and (6) military training courses. Requires the Secretary of State to publish a report detailing the obligation of such nonlethal aid in the Federal Register every 90 days. Declares that the Congress will consider authorizing the President to transfer funds for providing military assistance to the resistance after February 27, 1990, unless the President has certified that the Nicaraguan Government has held free elections toward establishment of a democratic government.
United States · United States Congress · 16 March 1989
Designates the week of July 24 to July 30, 1989, as National Week of Recognition and Remembrance for Those Who Served in the Korean War. Authorizes and requests the President to urge that the American flag be flown at half staff on July 27, 1989, in honor of those Americans who died as a result of their service in Korea.
United States · United States Congress · 16 March 1989
Designates April 30, 1989, as National Society of the Sons of the American Revolution Centennial Day.
United States · United States Congress · 15 March 1989
Designates the month of November in 1989 and 1990 as National Hospice Month.
United States · United States Congress · 15 March 1989
Commends the cable television industry on the tenth anniversary of the Cable Satellite Public Affairs Network (C-SPAN) for its contribution toward informing and educating U.S. citizens.
United States · United States Congress · 9 March 1989
Department of Energy National Laboratory Cooperative Research and Technology Competitiveness Act of 1989 - Defines terms and lists laboratories subject to this Act. Declares it a mission of the National Laboratories to foster, consistent with the national security and a fair return on taxpayers' investment, the commercialization of technology developed through laboratory activities. Directs the Secretary of Energy to take actions to further this mission. Title I: National Laboratory Centers for Technology Management - Directs the Secretary to prescribe regulations to ensure that the director of any National Laboratory has the authority to negotiate and enter into cooperative research and development agreements with various private and public entities and to negotiate intellectual property licensing agreements for National Laboratory property. Authorizes National Laboratory directors to include specified types of provisions in cooperative agreements. Enumerates mandatory determinations the director must make when deciding whether to enter an agreement, including a determination that National Laboratory facilities are available and that the proposed work is consistent with applicable guidelines and would neither interfere with Department of Energy programs nor create a financial burden on the laboratory. Sets forth criteria the director of a National Laboratory must consider when deciding which agreements to enter into, including a preference for businesses that agree to manufacture the relevant property substantially in the United States. Limits the cumulative total of nonappropriated funds received in any year under agreements under this title to ten percent of the annual budget of the laboratory, unless the Secretary gives advance approval. Prescribes criteria to be met in the interest of avoiding cooperative research and development agreements or intellectual property licenses that reflect any conflict of interest with respect to National Laboratory personnel. Requires each National Laboratory to keep records of all agreements and to submit them annually to the Secretary. Directs the Secretary to: (1) review existing regulations, policy, conflict of interest standards, and incentives for non-governmental parties in connection with cooperative research agreements; (2) formulate and implement comprehensive policy to advance this Act's objectives; and (3) report review findings and recommendations to the Congress and to the President. Title II: Centers for Research on High-Temperature Superconducting Technologies - Directs the Secretary of Energy to: (1) initiate and implement a cooperative program of research on enabling high-temperature superconductor technology and its practical applications; (2) form the Council for Research on Enabling Technologies, comprising representatives of appropriate government, university, and industry personnel, to advise the Secretary concerning goals and strategies; and (3) establish cooperative research centers in enabling technologies for high-temperature superconducting materials and applications at at least one National Laboratory. Prescribes criteria for selecting Laboratories. Directs the Secretary to ensure that National Laboratories may participate in the cooperative program and to enter into agreements and contracts to provide for their active participation. Requires the program to include provisions for at least one National Laboratory to conduct research, experimental, and development activities relating to high-temperature superconductivity. Permits personnel exchanges among firms or universities and National Laboratories participating in the program. Requires user fees in connection with Department of Energy (DOE) facility use authorized by the Secretary. Authorizes the Secretary to include high-temperature superconductivity activities in DOE research and development budget requests for FY 1990 through 1995. Describes cost-sharing features to apply to National Laboratories participating in the program. Prohibits a laboratory from receiving from any person more than $10,000,000 of nonappropriated funds under any cooperative research and development agreement under this title, unless the Secretary approves in advance. Title III: General Provisions - Directs the Secretary to issue regulations with respect to cooperative agreements, patent ownership, and intellectual property, subjecting them to preissuance review by the Office of Federal Procurement Policy. Lists provisions to govern disposition of title to property developed by National Laboratories. Permits waivers of Government license rights in connection with categories of inventions determined to be directly related to research and development on the design, manufacture, or use of any nuclear weapon or component. Enumerates intellectual property rights and royalty provisions that must be included in DOE funding agreements to operate a National Laboratory. Vests in arbitration boards the responsibility of determining the amount to be paid to the United States by National Laboratory managers or directors for intellectual property rights retained by the laboratory. Authorizes the Secretary to require the licensing to third parties of all intellectual property subject to this title's provisions. Directs the Secretary and the Inspector General of the Department of Energy, along with the Comptroller General, to conduct periodic audits of National Laboratory activities. Denies Government liability in connection with claims alleging injury resulting from products derived from intellectual property acquired under this Act.
United States · United States Congress · 9 March 1989
Expresses the sense of the Congress that the President should take specified actions with respect to the International Space Year (ISY), including directing the National Aeronautics and Space Administration to continue to develop ISY activities, with certain emphasis, through the Space Agency Forum on ISY.
United States · United States Congress · 9 March 1989
Designates the period commencing on June 21, 1989, and ending on June 28, 1989, as Food Science and Technology Week.
United States · United States Congress · 8 March 1989
Ute Indian Water Settlement Act of 1989 - Creates and allocates funds for the Ute Indian Water Deferral Trust Fund with monies to be held by the Secretary of the Interior for the benefit of the Tribe as compensation for deferring the use and development of irrigable farmland and the related water diversion requirement. Allocates funds for: (1) the repair of the leak in Cedarview Reservoir; (2) stream improvements for certain Utah creeks and rivers; and (3) the cleanup of the Bottle Hollow Reservoir to make it a suitable habitat for a cold water fishery. Directs the Secretary to maintain certain stream flows. Requires the Bureau of Reclamation to transfer acreage at the proposed site of the Lower Stillwater Reservoir as a wildlife mitigation measure. Allocates funds to: (1) construct, rehabilitate, and realign a certain project access road to the proposed Taskeech Dam site; (2) construct waterfowl management areas on the Lower Duchesne River; and (3) construct fisheries, campgrounds, and fish and wildlife management facilities, in lieu of the construction of the Lower Stillwater Dam and related facilities. Authorizes the Secretary to enter into agreements with non-Federal entities for the operation, maintenance, and construction of projects under this Act. Provides that the repayment of money appropriated pursuant to this Act shall be permanently deferred, except that construction costs allocated to non-Indian irrigation shall be subject to repayment within the irrigators' ability to repay. Provides that operation and maintenance costs for any facility built pursuant to this Act shall be borne by the water users. Directs the Secretary to enter into contracts to enable organizations representing the water users within the Uintah Indian Irrigation Project area to maintain the Project facilities by using the same management procedures used by organizations which operate Bureau of Reclamation irrigation projects. Provides for water right losses for nonpayment of assessments and the lease of available water from the Project. Authorizes the Secretary to make equipment or facilities available to any water user organization which is under obligation to the Secretary. Allocates funds for: (1) construction of the Taskeech Dam and completion of the Upalco unit of the Central Utah Project; (2) construction of the Whiterocks Dam and related storage facilities on the Uintah River; and (3) rehabilitation of the diversion works, canals, ditches, and related improvements which were constructed for the Uintah Irrigation Project. Allocates funds for studies to be conducted jointly by the Central Utah Water Conservancy District and the Tribe of alternate designs for specific water storage facilities and alternate plans for the rehabilitation of water distribution facilities of the Uintah Indian Irrigation Project. Settles all claims of the Tribe under a certain 1965 agreement upon the appropriation of funds and completion of projects authorized by this Act. Ratifies the compact among the Ute Indian Tribe of the Uintah and Ouray Reservation, the State of Utah, and the United States (the Ute Indian Water Compact). Authorizes appropriations.
United States · United States Congress · 8 March 1989
Designates the week beginning October 29, 1989, as Gaucher's Disease Awareness Week.
United States · United States Congress · 7 March 1989
Amends the Federal Aviation Act of 1958 to prohibit smoking on all scheduled airline flights and make such prohibition permanent.
United States · United States Congress · 7 March 1989
Depository Institution Affiliation Act - Title I: Creation and Control of Depository Institution Holding Companies - Sets forth the terms and conditions under which a depository institution holding company (DIHC) can be established and must be operated. Requires any DIHC seeking to acquire control of an insured bank, an insured institution, a bank holding company, a savings and loan holding company, or a depository institution holding company to comply with the requirements of the Change in Bank Control Act or the Change in Savings and Loan Control Act, as applicable. 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 bank or institution that is controlled by a DIHC from engaging in unsafe or unsound practices. Subjects DIHCs 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 DIHC from: (1) extending credit to a securities affiliate or subsidiary; (2) purchasing 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. Provides exceptions from such restrictions. Permits the appropriate Federal regulatory agency for insured banks or institutions that are controlled by DIHCs to require such banks and institutions to maintain additional capital in an amount of up to three percent of their total assets. Requires any DIHC which is in control of an insured bank or institution found to be undercapitalized to: (1) enter into an agreement with the appropriate Federal regulatory agency to return the bank or institution to compliance with the applicable minimum required capital; or (2) divest control of such bank or institution. States that Federal regulatory agencies may not impose requirements pertaining to the capitalization of a DIHC. Subjects interstate acquisitions: (1) of an insured bank by a DIHC to the same restrictions as are applicable to bank holding companies under the Bank Holding Company Act of 1956; and (2) of an insured institution by a DIHC to the same restrictions as are applicable to savings and loan companies. Prohibits Federal and State governments from enacting laws that discriminate against DIHCs. Prohibits insured banks and institutions that are associated with a DIHC from: (1) dealing in or underwriting securities; (2) underwriting insurance; or (3) investing in or developing real estate. Provides certain limitations on DIHC entry into the businesses of insurance agency and real estate brokerage. Subjects DIHCs to the tying provisions of the Bank Holding Company Act Amendments of 1970 and to the insider lending prohibitions of the Federal Reserve Act. Makes conforming amendments to the Bank Holding Company Act of 1956. 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. Amends the Banking Act of 1933 to make certain provisions which prohibit member banks from becoming affiliated with securities corporations inapplicable to member banks which are controlled by DIHCs. Makes conforming amendments to the Federal Deposit Insurance Act. Amends the Securities Exchange Act of 1934 to provide for the registration and regulation of broker dealers. Makes conforming amendments to the Community Reinvestment Act. Title II: Supervisory Improvements - Establishes a National Financial Services 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 DIHCs from the activities of their affiliates. Title III: Thrift Improvements - Amends the National Housing Act to exempt institutions controlled by DIHCs from the definition of "insured institution" for the purposes of the Savings and Loan Holding Company Act. States that savings and loan holding companies and their subsidiaries shall not be subject to the debt approval requirements of such Act if their insured subsidiaries have met certain qualified thrift lender requirements. Deletes the Savings and Loan Holding Company Act management interlock prohibitions. Establishes affiliate transaction standards which are applicable to all insured institutions. Preempts inconsistent State and Federal laws, rules, and regulations. Exempts savings and loan holding companies from restrictions on: (1) affiliation with institutions which engage in underwriting and distributing securities; and (2) cross marketing practices. Amends the Depository Institutions Management Interlocks Act to permit management interlocks between savings and loan holding companies whose insured subsidiaries satisfy the qualified thrift lender requirement (unless the Federal Home Loan Bank Board determines that such an interlock would result in a monopoly or lessen competition and that preventing the interlock is the only way to prevent such anticompetitive results).
United States · United States Congress · 6 March 1989
Designates the period commencing May 7, 1989, and ending May 13, 1989, as National Correctional Officers Week.
United States · United States Congress · 3 March 1989
Grants a Federal charter to the National Academies of Practice, honoring persons of the health care professions.
United States · United States Congress · 2 March 1989
Federal Home Loan Mortgage Corporation Transition Act - Amends the Federal Home Loan Mortgage Corporation Act to revise the composition of the Board of Directors of the Federal Home Loan Mortgage Corporation (FHLMC). Specifies that such Board shall consist of 18 members, five appointed by the President, and the remainder elected annually by the voting common stockholders. (Currently, the Board of Directors of the Federal Home Loan Bank Board (FHLBB) serves as the Board of Directors of the FHLMC.) Provides that the Secretary of Housing and Urban Development shall have general regulatory power over the FHLMC. Authorizes the Secretary to require that a reasonable portion of the FHLMC's mortgage purchases be related to providing of adequate housing for low- and moderate-income families. Specifies that the aggregate amount of cash dividends paid by the FHLMC on account of any share of its common stock shall not exceed any rate determined by the Secretary to be a fair rate of return after consideration of the current earnings and capital condition of the FHLMC. Provides that the common stock of the FHLMC shall consist of: (1) nonvoting common stock, which shall be issued only to Federal home loan banks; and (2) voting common stock. Provides for the conversion of outstanding preferred stock of the FHLMC into voting common stock. Specifies that each share of voting common stock shall be entitled to one vote. Prohibits the FHLMC from imposing any fee upon any mortgage approved by the Secretary for participation in any mortgage insurance program under the National Housing Act. Authorizes the Secretary of the Treasury to purchase any obligations issued by FHLMC up to a specified aggregate amount. Declares that any unsecured obligations of the FHLMC shall have such maturities and interest rates as may be determined by the FHLMC with the approval of the Secretary of the Treasury.
United States · United States Congress · 28 February 1989
Arctic Coastal Plain Public Lands Leasing Act of 1989 - Amends the Mineral Lands Leasing Act of 1920 to direct the Secretary of the Interior to implement a competitive oil and gas leasing program on the public lands of the Coastal Plain (in Alaska) in order to assure expeditious exploration, development, and production of the area's oil and gas resources. Requires that activities be conducted to achieve the reasonable protection of wildlife resources, the environment, and subsistence users. Directs the Secretary to provide impact aid to affected communities to ensure the availability of public services necessitated by the leasing program. Authorizes the Secretary of State to initiate discussions with the Canadian Government regarding mutual planning for the development and transportation of crude oil and natural gas resources in the Arctic region under the respective jurisdiction of each country, both onshore and offshore.
United States · United States Congress · 23 February 1989
Designates June 12, 1989, as Anne Frank Day.
United States · United States Congress · 22 February 1989
Requires U.S. coins to be redesigned, at the discretion of the Secretary of the Treasury, over the next six years. Requires the reverse side of the first coin redesigned to commemorate the bicentennial of the U.S. Constitution for a two-year period. Provides that the design on the obverse side of U.S. coins shall contain the likenesses of those displayed on current coins and shall be considered for redesign. Requires any such obverse redesigns to conform to the inscription requirements of current law. Requires the Secretary, in selecting new designs, to consider specified constitutional concepts. Requires the designs to be selected by the Secretary upon consultation with the United States Commission of Fine Arts. Requires that any profits from the sale of uncirculated and proof sets of U.S. coins be deposited in the Treasury and used solely to reduce the national debt.
United States · United States Congress · 22 February 1989
Financial Institutions Reform, Recovery and Enforcement Act of 1989 - Title I: Purpose - Specifies the purposes of this Act, including regulatory reform, the establishment of an independent insurance agency to provide deposit insurance, and the provision of improved supervision and enhanced enforcement powers. Title II: Federal Deposit Insurance Corporation Authorities and Responsibilities - Amends the Federal Deposit Insurance Act to authorize the Federal Deposit Insurance Corporation (FDIC) to insure deposits held at savings associations as well as commercial banks. Increases the membership of the FDIC's Board of Directors from three to five members. Specifies that the additional two members shall be the Chairman of the Federal Home Loan Bank System and a citizen appointed by the President, by and with the advice and consent of the Senate. Revises certain definitions for the purposes of the Federal Deposit Insurance Act. Specifies that the term "insured deposit" shall include any liability which constituted an "insured account" within the meaning of the National Housing Act prior to the enactment of this Act, provided certain conditions are met. Specifies that the Federal Home Loan Bank System (FHLBS) shall be considered the appropriate Federal banking agency in the case of a savings association or a savings and loan holding company. Includes within the definition of "savings association" any institution that was supervised by the Federal Savings and Loan Insurance Corporation (FSLIC) prior to the enactment of this Act, a Federal savings and loan association or Federal savings bank, or a building and loan, savings and loan, homestead association, or a cooperative bank organized and operated under State law, or a corporation that the FDIC considers to be operating substantially in the same manner as a savings and loan association. Provides that every FSLIC insured savings association shall continue to be insured by the FDIC without application or approval. Provides that whenever a financial institution files an application or notice for membership with, or to commence or resume business with, the appropriate Federal banking agency, such agency must provide such application to the FDIC for comment. Requires such agency to take the FDIC's comment into account in deciding whether to grant the application. Provides that certain State financial institutions shall continue as insured institutions. Allows any Federal savings association authorized to do business by the FHLBS to become an insured financial institution upon the filing of an application with the FDIC together with a certificate issued by the FHLBS, unless insurance is denied by the FDIC. Sets forth procedures for the FDIC to evaluate such an application. Specifies the factors to be considered in granting or denying insurance coverage. Requires the FDIC to notify the FHLBS if such insurance coverage is denied, and to give specific reasons in writing for such denial. Requires every noninsured financial institution which becomes insured by the FDIC to pay any entrance fee prescribed by FDIC regulations. Requires that such fee be credited to either the Bank Insurance Fund (BIF) or the Savings Associations Insurance Fund (SAIF) depending on which fund the institution joins. Prohibits any insured financial institution from participating in any type of conversion transaction which would result in a change of membership from one such fund to the other without the approval of the FDIC. Places a five-year moratorium on the approval of such conversion transactions, except in limited circumstances. Requires financial institutions which participate in such conversion transactions to pay specified entrance and exit fees. Provides that whenever the FDIC incurs a loss in connection with the default of an insured financial institution, or in connection with providing assistance to an insured financial institution in danger of default, any other commonly-controlled insured financial institution shall be liable to the FDIC and on request shall reimburse the FDIC for any such loss. Specifies the method of calculating such liability. Sets forth procedures for imposing and collecting such liability. Limits the rights of any third parties in such proceedings. Provides that for a five-year period no BIF members shall be held liable for the default of a SAIF member and no SAIF members shall be held liable for the default of a BIF member. Defines "commonly-controlled" for purposes of determining such liability. Adds as a factor to be considered by the FDIC in evaluating applications for insurance coverage the risk presented to the Deposit Insurance Fund (DIF), the BIF, and the SAIF. Allows the FDIC, after reaching agreement with the other Federal banking agencies, to require insured financial institutions to file additional reports for insurance purposes. Requires the FDIC to set the assessment rate for insured financial institutions annually. Specifies that the annual assessment rate for BIF members shall be determined independently from the annual assessment rate for SAIF members. Prescribes the assessment rates for BIF members for 1989, 1990, and 1991 onward. Prescribes the assessment rates for SAIF members through 1990, for 1991 through 1993, and for 1994 onward. Allows the FDIC to raise or lower such assessment rates under specified circumstances. Limits any increase in the assessment rate to 50 percent over the annual assessment rate of the prior year. Specifies that such assessments shall be paid semiannually. Allows assessment credits to BIF members and SAIF members for years in which the ratio of the net worth of such funds to the value of insured deposits reaches a certain level. Specifies that such a credit shall be applied to the assessment becoming due for the next semiannual assessment period. Extends the provisions of the Change in Bank Control Act to savings associations as well as banks. Includes as an additional corporate power of the FDIC the authority to define any terms used in the Federal Deposit Insurance Act that are not specifically defined and to interpret the definitions of any terms that are not defined. Grants the FDIC the same authority to examine insured savings associations and to insure the deposits held at savings associations as it presently has with respect to insured banks. Establishes two insurance funds (the Bank Insurance Fund (BIF) and the Savings Associations Insurance Fund (SAIF)) to be used by the FDIC to carry out the insurance purposes of this Act. Specifies that such funds are both to be operated and administered by the FDIC. Requires such funds to be separately maintained and not commingled. Specifies that the BIF shall consist of the assets of the Permanent Insurance Fund and all amounts assessed of BIF members. Specifies that the SAIF shall consist of all amounts assessed of SAIF members (which are not required for the Financing Corporation or the Resolution Funding Corporation pursuant to this Act) and of funds provided by the Secretary of the Treasury according to a specific schedule for FY 1991 through FY 1999. Authorizes the Secretary to provide additional amounts for such fund if the minimum net worth of the fund falls below a certain level. Authorizes appropriations for such funds. Authorizes the FDIC to borrow funds for the use of the SAIF. Provides that such borrowings shall be a direct liability of the SAIF and shall be subject to certain limitations. Revises and defines the authorities and duties of the FDIC as the receiver or conservator for insured Federal financial institutions and for insured State financial institutions. Specifies that all insurance payments made on account of a closed bank or insured branch of a foreign bank shall be made only from the Bank Insurance Fund and all payments made on account of a closed savings association shall be made only from the Savings Association Insurance Fund. Provides that when the FDIC pays insurance to a depositor, the FDIC shall be subrogated to the depositor's claim against the financial institution. (Such right of subrogation now applies only to national banks.) Revises and defines the authorities and duties of the FDIC in the establishment of bridge banks in cases of failed or failing financial institutions. Authorizes the FDIC to use such bridge banks in the case of failed or failing financial institutions as well as banks. Increases from one to three the number of times a bridge bank may be granted a one-year extension of its corporate existence. Revises procedures for the termination and dissolution of bridge banks. Sets forth the method and procedures for the valuation and determination of claims by third persons against financial institutions in default. Establishes the FSLIC Resolution Fund (Fund). Specifies that such Fund shall be managed by the FDIC and shall be separately maintained and not commingled. Transfers to such Fund the reserves and assets, debts, obligations, contracts, and other liabilities of the FSLIC existing on the date of the dissolution of the FSLIC. Provides that such Fund shall be funded by: (1) income generated on the assets transferred to it; (2) proceeds of the resolution of insolvent thrift institutions which became insolvent prior to December 31, 1988 (to the extent such funds are not required by the Resolution Funding Corporation); (3) the proceeds from borrowings by the Financing Corporation; and (4) assessments on SAIF members levied prior to December 31, 1991, and not required by the Financing Corporation or the Resolution Trust Corporation. Provides for additional funding by the Secretary of the Treasury from appropriated funds in the event such other funds are insufficient. Limits any judgment resulting from a civil action against the FSLIC or the FDIC to the assets of such Fund. Dissolves such Fund upon the satisfaction of all debts and liabilities and the sale of all assets acquired in case resolutions. Requires that any funds remaining in such Fund be covered into the Treasury. Requires that any funds held in either the BIF or the SAIF must be invested in U.S. Government obligations or in obligations guaranteed by the U.S. Government. Requires that the funds from the BIF and the SAIF be invested separately and not commingled. Allows the FDIC to request a 90-day stay of any legal proceedings to which it becomes a party due to its acquisition of any asset or in the exercise of certain authorities. Requires the FDIC, in determining whether to provide assistance to financial institutions, to consider: (1) the immediate and long-term obligations of the FDIC with respect to such assistance; and (2) the Federal tax revenues which would be forgone. Provides that transfers of assets or liabilities associated with any trust business may be effected by the FDIC in connection with any asset purchase transaction without any further State or Federal approval. Revises provisions relating to certain agreements against the interests of the FDIC. Specifies that the Board of Directors of the FDIC may act by a 75 percent vote (current law requires a unanimous vote) in order to override a State's objection to an assisted interstate acquisition of an insured financial institution in default having $500,000,000 or more in assets. Revises certain rules relating to the interstate acquisitions of banks. Establishes separate rules relating to the interstate acquisitions of savings associations. Increases the borrowing authority of the FDIC from $3,000,000,000 to $5,000,000,000. Makes such borrowing authority subject to the approval of the Secretary of the Treasury. Limits any State or local tax penalties to which the FDIC may be subjected when acting as a receiver or conservator of a financial institution. Limits the borrowing of both the BIF and the SAIF to 50 percent of net worth or $10,000,000,000, whichever is less. Requires the FDIC to report to the Congress annually regarding its operations, activities, budget, receipts, and expenditures. (Current law requires an annual report regarding only the FDIC's operations.) Requires the FDIC to make quarterly reports to the Secretary of the Treasury and to the Office of Management and Budget with respect to the FDIC's financial operating plans and forecasts. Requires signs displayed by insured financial institutions to represent whether an institution is a BIF member or a SAIF member. Makes all insured financial institutions subject to the Bank Merger Act. Makes the FHLBS the responsible agency with respect to mergers where the acquiring, assuming, or resulting institution is to be a savings association. Provides that all insured State financial institutions, other than State member banks or district banks, would be subject to the requirement of prior FDIC consent to the reduction of capital. Requires any insured savings association which establishes or controls a new company or elects to conduct any new activity to notify the FDIC and the FHLBS. Requires such a savings association to deduct its investments in, and loans to, such company from its own capital for purposes of determining capital adequacy if the company is engaged in activities not permissible for a national bank. Grants the FDIC and the FHLBS certain enforcement powers with respect to any company controlled by an insured savings association. Authorizes the FDIC to determine activities which are incompatible with deposit insurance. Revises the statement of the policy of nondiscrimination against State nonmember banks under the Federal Deposit Insurance Act to include State savings associations. Eliminates the requirement of nondiscrimination on account of an institution having capital stock of less than the amount required for Federal Reserve membership. Title III: Savings Association Supervision Improvements - Amends the Home Owners' Loan Act of 1933 to specify the duties and responsibilities of the FHLBS with respect to the examination, supervision, and regulation of savings associations. States that such authorities are intended to encourage savings associations to maintain their role of providing credit for housing in a manner consistent with principles of safe and sound operation. Requires the FHLBS to prescribe accounting and disclosure standards for all savings associations. Provides that such standards shall incorporate generally accepted accounting principles to the same degree such principles are used to determine compliance with the rules and regulations of other Federal banking agencies. Requires that the rules, regulations, and policies of the FHLBS governing the operation of savings associations shall be no less stringent than those of the Comptroller of the Currency. Transfers specified provisions of the National Housing Act to the Home Owners Loan Act of 1933. Makes certain conforming name changes and certain technical amendments. Requires the FDIC to be appointed the receiver of insured State savings associations under certain circumstances. Requires insured State savings associations, as well as Federal savings associations, to abide by the rules of the FHLBS when converting from mutual to stock form or from stock to mutual form. Requires the FHLBS to establish for all savings associations capital standards that are no less stringent than those applied to national banks. Allows such capital standards to include goodwill as a component of capital. Specifies that in determining capital adequacy, any investments in, and loans to, a subsidiary engaged solely in mortgage banking activities shall not be deducted from the capital of savings associations. Requires that such capital standards must be fully implemented no later than June 1, 1991. Repeals specified provisions of the Home Owners' Loan Act of 1933 and the National Housing Act which provide capital forbearance to certain insured savings associations. Allows those savings associations operating under a capital forbearance plan previously approved pursuant to such provisions to continue to operate under such plans, provided such associations continue to adhere to such plans and continue to submit required reports. Provides that the expense of the examination of savings associations or their affiliates shall be assessed by the FHLBS upon savings associations in proportion to their assets or resources. Specifies procedures for making such assessments and remedies in cases where an affiliate refuses to pay examination costs, permit examination, or provide required information. Transfers provisions of the National Housing Act concerning the regulation of savings and loan holding companies to the Home Owners' Loan Act of 1933. Makes certain technical amendments to such provisions. Imposes certain sanctions upon savings associations that fail to achieve or maintain qualified thrift lender status. Requires such a savings association to convert its charter to a bank charter within three years unless it requalifies within one year. Prohibits such a savings association from engaging in certain activities until such conversion is complete. Treats a holding company which controls such a savings association as a bank holding company for all purposes of the Bank Holding Company Act of 1956. Charges an insurance fund exit fee upon such a conversion. Makes applicable to savings associations certain provisions of the Federal Reserve Act relating to transactions with affiliates and loans and extensions of credit to directors and controlling persons. Prohibits any savings association from carrying on any sale, plan, or practices or any advertising in violation of regulations promulgated by the FHLBS. Title IV: Dissolution and Transfer of Functions, Personnel, and Property of Federal Savings and Loan Insurance Corporation - Terminates the Federal Savings and Loan Insurance Corporation (FSLIC) 60 days after the enactment of this Act. Provides that all insurance and receivership functions previously performed by the FSLIC shall be performed by either the FDIC or the Resolution Trust Corporation. Provides for the continuation and enforcement of all rules, regulations, and orders of the FSLIC. Provides for the transfer of the personnel and property of the FSLIC to the FDIC and FHLBS. Requires the FSLIC to submit a written report of a final accounting of its finances and operations to the Secretary of the Treasury, the Office of Management and Budget, and the Congress immediately prior to its dissolution. Title V: Financing For Thrift Resolutions - Subtitle A: Resolution Trust Corporation - Establishes the Resolution Trust Corporation (RTC). Specifies the purposes of the RTC as: (1) carrying out a program to manage and resolve cases involving institutions insured by the FSLIC for which a receiver or conservator has been appointed or is appointed within three years following the enactment of this Act; (2) managing the assets of the Federal Asset Disposition Association (FADA); and (3) performing other authorized functions. Provides that the RTC shall have the same case resolution and financial assistance rights and powers as the FDIC. Specifies that the RTC shall not have the authority to obligate the FDIC or its funds and shall be subject to the same limitations as the FDIC in connection with providing assistance to, or liquidating or otherwise resolving cases involving, insured institutions. Establishes the Oversight Board of the RTC which shall consist of the Secretary of the Treasury, the Chairman of the Federal Reserve Board, and the Attorney General. Authorizes the Oversight Board to select a chief executive officer for the RTC. Specifies the corporate powers of the RTC. Specifies special powers of the RTC with respect to receiverships, conservatorships, and oversight of the institutions for which it is responsible. Requires the RTC to convert the FADA to a corporation or other business entity and to sell, wind down, or dissolve such corporation or entity within 180 days after the enactment of this Act. Authorizes the RTC to issue capital certificates to the Resolution Funding Corporation. Sets forth requirements and limitations concerning such capital certificates. Exempts the RTC from Federal, State, municipal, and local taxation, except taxes on real estate held by the RTC. Authorizes the RTC to remove any legal proceeding to which it may be a party from a State court to the U.S. District Court for the District of Columbia. Provides that any guarantees issued by the FSLIC after January 1, 1989, and before the enactment of this Act shall be converted into obligations, entitlements, and instruments of the RTC. Authorizes the RTC to borrow funds from the Treasury, on terms fixed by the Secretary of the Treasury, up to an aggregate of $5,000,000,000 outstanding at any one time. Subtitle B: Resolution Funding Corporation - Establishes the Resolution Funding Corporation (RFC). Specifies the purpose of the RFC as providing the RTC with the funds necessary to carry out the purposes of this Act. Establishes a directorate to manage the RFC which shall consist of: (1) the director of the Office of Finance of Federal Home Loan Banks; and (2) two members selected from the presidents of the Federal Home Loan Banks. Sets forth administrative provisions concerning the management of the RFC. Sets forth the powers and duties of the RFC. Provides for the capitalization of the RFC by the purchase of capital stock by Federal Home Loan Banks. Specifies the amounts each Federal Home Loan Bank shall invest in the capitalization of the RFC. Provides for additional sources of funds for the RFC. Limits the amount of bonds or similar obligations which the RFC may issue to $50,000,000,000. Provides that the RFC shall pay any interest due on such obligations from proceeds received by the RTC from the liquidation of financial institutions under its management. Provides that the proceeds of obligations issued by the RFC shall be invested in capital certificates issued by the RTC. Grants tax-exempt status to any obligations of the RFC. Terminates the RFC after the date by which all capital certificates purchased by the RFC in the RTC have been retired. Title VI: Thrift Acquisition Enhancement Provisions - Amends the Bank Holding Company Act to allow bank holding companies to acquire any savings association with the approval of the Federal Reserve Board beginning two years after the enactment of this Act. Prohibits the Federal Reserve Board from imposing any restrictions on transactions between a savings association and its holding company affiliates other than those restrictions presently imposed under the Federal Reserve Act. Amends the National Housing Act to allow a savings and loan holding company to hold up to five percent of the voting shares of an unaffiliated savings association or savings and loan holding company. Permits multiple savings and loan holding companies to acquire up to five percent of the voting shares of any non-subsidiary company. Title VII: Federal Home Loan Bank Act System Reforms - Subtitle A: Federal Home Loan Bank Act Amendments - Amends the Federal Home Loan Bank Act to abolish the Federal Home Loan Bank Board (FHLBB) and transfer all power and authority vested in the FHLBB to the Chairman of the Federal Home Loan Bank System (FHLBS). Provides that the FHLBS shall be a bureau of the Department of the Treasury. Provides that the Chairman of the FHLBS shall be appointed by the President, by and with the advice and consent of the Senate. Specifies that the Chairman of the FHLBB shall become the Chairman of the FHLBS. Sets forth administrative provisions concerning employees of the FHLBS. Provides that the FHLBS shall have and may exercise all functions which the FHLBB and the FSLIC exercised and which are not expressly transferred or consolidated into the FDIC or the RTC. Sets forth the procedures and requirements for the election of the Board of Directors of the Federal Home Loan Banks. Authorizes Federal Home Loan Banks to make loans to the Federal Deposit Insurance Corporation, subject to the concurrence of the Chairman of the FHLBS, for the use of the SAIF. Requires the senior supervisory employee of each Federal Home Loan Bank to report to the chief supervisory official of the FHLBS. Provides that such senior supervisory employee may be removed for cause by the Chairman of the FHLBS. Changes the name of the Federal Savings and Loan Advisory Council to the Thrift Advisory Council. Abolishes the Federal Savings and Loan Insurance Corporation Industry Advisory Committee. Subtitle B: Conforming Amendments - Makes specified conforming amendments to the Federal Home Loan Mortgage Corporation Act, the Deficiency Appropriation Act of 1936, the Housing Act of 1948, and the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Title VIII: Bank Conservation Act Amendments - Amends the Bank Conservation Act to revise provisions concerning the appointment of the FDIC as the conservator of a bank. Specifies the conditions under which the FDIC may be appointed as a conservator. Allows an affected bank to seek judicial review of the appointment of a conservator, except in cases where the bank has consented to the appointment of a conservator or the bank's deposit insurance has been terminated. Specifies that the Comptroller of the Currency shall have the exclusive power and jurisdiction to appoint a conservator for the bank. Requires the Comptroller to consult with the FDIC when examining and supervising an ongoing bank for which the FDIC has been appointed conservator, as long as the bank continues operations as an ongoing national bank. Revises provisions concerning the termination of a bank conservatorship. Revises the powers and duties of a conservator. Revises provisions concerning the liability of a conservator for acts performed pursuant to the conservatorship. Specifies that a conservator may be held liable only for acts which are found to be grossly negligent. Allows the Comptroller to indemnify the conservator. Title IX: Regulatory Authority and Criminal Enhancements - Enforcement Powers Improvement Act of 1989 - Subtitle A: Regulation of Financial Institutions - Makes technical amendments to the Federal Deposit Insurance Act with respect to a Federal banking agency's authority to impose sanctions on an "institution-related party" who participates in the affairs of an insured financial institution (both banks and savings associations.) Reduces from 120 days to 60 days the prior notice the FDIC must give of its intention to terminate a financial institution's deposit insurance. Reduces the period during which deposit insurance is continued in such cases from two years to a period of six months to two years at the discretion of the FDIC. Allows the FDIC to temporarily suspend deposit insurance upon a finding that an insured financial institution has no tangible shareholders' equity that qualifies under the capital guidelines or regulations of the appropriate Federal banking agency. Allows the appropriate Federal banking agency to issue cease and desist orders to require affirmative action to correct conditions resulting from certain violations or practices, including making restitution or reimbursement, providing indemnification, rescinding contracts, disposing of loans, or assets, restricting growth of the institution, or providing guarantees against loss. Allows such an order to limit the activities or functions of the financial institution or any institution-related party. Specifies that the FHLBS may exercise cease and desist authority with respect to savings and loan holding companies, any subsidiary of a savings and loan holding company, any service corporation of a savings association, and any subsidiary of any such service corporation. Revises the temporary cease and desist authority of the Federal banking regulatory agencies to delete the requirement that the agency must show a "substantial" dissipation of assets or a "serious" weakening of the condition of the financial institution. Provides that such a temporary order may place limitations on the activities or functions of the financial institution or prohibitions or restrictions on the growth of the institution or any institution-related party. Allows the use of such temporary cease and desist authority when a financial institution's records are so incomplete or inaccurate that the appropriate banking agency cannot determine the financial condition of the institution. Provides that such an order may require the institution to take such action necessary to restore the records to a complete and accurate state. Revises rules concerning the suspension or removal of any financial institution-related party. Deletes the requirement that the regulatory agency must show activity which results in "substantial" financial loss or other damage to the financial institution. Specifies the types of activity to be considered, including activity at any business institution or another financial institution other than the institution in question. (Current law provides for different standards depending on whether the activity took place at another institution or at the particular institution from which removal is sought.) Allows the temporary removal of an institution-related party pending a permanent removal if necessary for the protection of the institution or depositors. Provides that any institution-related party suspended or removed by such an order shall also be suspended or removed or prohibited from participation in the conduct of the affairs of any: (1) insured financial institution; (2) bank holding company or subsidiary; (3) Edge Act corporation; (4) service corporation or subsidiary; (5) savings and loan holding company or subsidiary; (6) federally-insured credit union; and (7) institution chartered under the Farm Credit Act of 1971. Exempts such a person from such industry-wide prohibitions if the appropriate Federal regulatory agency gives prior written approval. Specifies that such authority to proceed against any institution-related party shall not be affected by the resignation, termination of employment, or other separation of such person from an insured financial institution. Increases from $1,000 per day to $25,000 per day the civil penalty for the violation of a cease and desist order or an order for the suspension or removal of an institution-related party. Allows a penalty of up to $1,000,000 per day for violations made with reckless disregard for the safety and soundness of the financial institution. Imposes a $25,000 per day civil penalty (up to $1,000,000 per day in cases of reckless disregard for the safety and soundness of the financial institution) for a violation of: (1) any law or regulation relating to financial institutions; (2) any written condition imposed by the appropriate Federal banking agency in connection with the grant of any application or other request; or (3) any fiduciary duty. Imposes such penalty for any practice which results in a loss to the financial institution or pecuniary gain to the institution-related party. Imposes criminal penalties upon any person who participates in the affairs of any federally regulated financial institution, holding company, or subsidiary after having been suspended, removed from office, or prohibited from participating in the affairs of a financial institution by an order of the appropriate Federal banking regulatory agency. (Current law imposes criminal penalties only for participation in the affairs of the institution from which the person was prohibited, removed, or suspended.) Authorizes the Federal banking agencies to pay rewards for information which leads to a recovery which exceeds $50,000 in criminal fines, restitution, civil penalties, or forfeitures. Limits such a reward to the lesser of 25 percent of the recovery or $100,000. Prohibits a federally-insured financial institution from discharging or discriminating against any employee who provides information to any regulatory authority or to the Department of Justice regarding a possible violation of any law or regulation by the financial institution or its officers, directors or employees. Establishes a civil cause of action for any employee or former employee who believes he has been discharged or discriminated against in violation of such prohibition. Authorizes the FDIC to recommend that the FHLBS take any enforcement actions authorized with respect to any savings association. Requires the FDIC to take such action if the FHLBS does not take such enforcement actions. Increases from $100 per day to a maximum of $1,000,000 per day the penalty for unauthorized participation in the affairs of a financial institution by any person who has been convicted of any criminal offense involving dishonesty or a breach of trust. Makes both the depository institution and the individual involved subject to such penalty. (Current law makes only the depository institution subject to such penalty.) Imposes criminal penalties for the knowing violation of such prohibition, in addition to such civil penalty. Increases from $1,000 per day to $25,000 per day the civil penalty for specified violations of the Federal Reserve Act. Allows a penalty of up to $1,000,000 per day for any such violations made with reckless disregard for the safety and soundness of the financial institution. Amends the Bank Holding Company Act to increase the criminal and civil penalties for violations of such Act. Specifies that both criminal and civil penalties shall be cumulative. Increases the civil penalties for violations of the prohibitions against tying arrangements between subsidiaries of a bank holding company from $1,000 per day to $25,000 per day. Allows a penalty of up to $1,000,000 per day for violations made with reckless disregard for the safety and soundness of the financial institution. Makes similar increases in the civil penalty for refusal to permit examination of a national bank or affiliate and in the general civil penalty authority of the Comptroller of the Currency. Amends the Change in Bank Control Act to increase the civil penalties for violations of such Act from $10,000 per day to $25,000 per day. Allows a penalty of up to $1,000,000 per day for violations made with reckless disregard for the safety and soundness of the financial institution. Deletes the requirement that such a violation must be "willful." Sets forth procedures for the assessment and collection of such penalties. Amends the Bank Protection Act of 1968 to repeal requirements for insured financial institutions to submit reports with respect to security devices and procedures. Increases to $25,000 per day the penalty for national banks, State nonmember banks, Federal Reserve member banks, and bank holding companies which violate reporting requirements. Allows a penalty of up to $1,000,000 per day for violations made with reckless disregard for the safety and soundness of the financial institution. Revises such requirements to prohibit submission of any false, misleading, or incomplete reports or information. (Current law provides penalties only for failure to make required reports.) Subtitle B: Regulation by the Federal Home Loan Bank System - Specifies that the FHLBS shall have examination and supervision authority with respect to Federal savings associations. Requires savings associations to make reports of condition to the FHLBS. Imposes civil penalties of $25,000 per day for failure to submit such reports and for submitting false, misleading, or incomplete reports or information. Allows a penalty of up to $1,000,000 per day for violations of such reporting requirements from reckless disregard for the safety and soundness of a savings association. Increases the civil and criminal penalties for violations of the Savings and Loan Holding Company Act to conform with the penalties for Bank Holding Company Act violations. Provides that all ongoing litigation in which the FHLBB or the FSLIC are parties shall be pursued by either the FHLBS or the FDIC. Authorizes the FHLBS to continue certain pending enforcement actions initiated by the FHLBB or the FSLIC prior to the effective date of this Act. Subtitle C: Credit Unions - Amends the Federal Credit Union Act to revise the enforcement authority of the National Credit Union Administration (NCUA) to conform to the enforcement authorities of the other Federal banking regulatory agencies. Increases the penalties for violations of such Act to conform to the penalties for violations of other banking laws. Subtitle D: Right to Financial Privacy Act - Amends the Right to Financial Privacy Act to specify that the exceptions to the requirements of such Act apply to supervisory agencies of any financial institution, holding company, or any subsidiary of a financial institution or holding company. Specifies that such exceptions extend to: (1) any supervisory agency of financial records or information in the exercise of its supervisory, regulatory, or monetary functions, including conservatorship or receivership functions; (2) the Federal Reserve or any Federal Reserve bank in the exercise of its authority to extend credit to depository institutions and others; and (3) the RTC in the exercise of its conservatorship, receivership, or liquidation functions. Prohibits a financial institution which has been served a grand jury subpoena relating to possible crimes against financial institutions or regulatory agencies from notifying any customer whose records are sought or any other party about the existence or contents of any subpoena or any information that has been furnished to the grand jury in response to that subpoena. Imposes criminal penalties for violations of such prohibition. Subtitle E: Criminal Enhancements - Amends the Federal criminal code to increase the criminal penalties and impose civil penalties for: (1) financial institution bribery; (2) financial institution misapplication and embezzlement; (3) false entries on the books of financial institutions; (4) fraud on a deposit insurer; (5) false statements or overvaluations concerning financial institutions; and (6) financial institution fraud. Sets forth procedures for the imposition of civil penalties and the collection of any such penalties. Specifies that all criminal and civil penalties shall be cumulative. Increases the statute of limitations pertaining to such crimes from five years to ten years. Provides for civil forfeiture and criminal forfeiture of any property derived from proceeds traceable to specified crimes affecting federally insured financial institutions. Amends the Federal Rules of Criminal Procedure to allow the disclosure of certain matters occurring before a grand jury to certain Government attorneys to assist in the enforcement of Federal criminal or civil law. Allows certain other disclosures when permitted by a court. Authorizes appropriations for FY 1989 to the Department of Justice for investigations and prosecutions involving financial institution crimes. Title X: Study of Federal Deposit Insurance and Banking Regulation - Requires the Secretary of the Treasury to study and report to the Congress on the Federal deposit insurance system, including an appropriate structure for the offering of competitive products and services to consumers consistent with standards of safety and soundness. Title XI: Miscellaneous Provisions - Amends the Federal Credit Union Act to delete the requirement that every credit union maintain with the National Credit Union Share Insurance Fund (NCUSIF) a deposit equal to one percent of the credit union's insured shares. Authorizes the National Credit Union Administration (NCUA) to assess an additional insurance premium if the operating level of the NCUSIF falls below a minimum level. Allows a credit union to expense the one percent deposit over an eight-year period. Requires the Comptroller of the Currency, subject to the approval of the Secretary of the Treasury, to fix the compensation of the employees of the Office of the Comptroller of the Currency. Directs the Comptroller to seek to maintain comparability with the compensation at the other Federal banking regulatory agencies.
United States · United States Congress · 22 February 1989
COLA Equity Act of 1989 - Provides for all Federal civilian and military retirees to receive the full cost-of-living adjustments in annuities payable under Federal retirement systems for FY 1990 and 1991. (Includes benefits payable under the Civil Service Retirement and Disability System, military retirement and survivor benefit programs, the Foreign Service Retirement and Disability System, the Central Intelligence Agency Retirement and Disability System, and railroad retirement programs.) Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to exempt railroad retirement supplemental annuities from sequestration.
United States · United States Congress · 22 February 1989
Expresses disapproval of the refusal of the U.S.S.R. to recognize the sovereignty of the Baltic Republics. Designates June 14, 1989, as Baltic Freedom Day. Authorizes and requests the President to call upon the Soviet Union, the Federal Republic of Germany, and the Democratic Republic of Germany to renounce the acquisition or absorption of the Baltic Republics by the Soviet Union as a result of the Molotov-Ribbentrop Pact.
United States · United States Congress · 22 February 1989
Designates the month of May 1989 as National Stroke Awareness Month.
United States · United States Congress · 22 February 1989
Designates March 25, 1989, as Greek Independence Day: A National Day of Celebration of Greek and American Democracy.
United States · United States Congress · 9 February 1989
Camp W.G. Williams Land Exchange Act of 1989 - Directs the Secretary of the Interior to revoke applicable public land orders or withdrawals, to terminate classifications, and to take such other actions as the Secretary determines necessary to consummate an exchange of specified lands in Salt Lake County and Utah County, Utah.
United States · United States Congress · 9 February 1989
Arctic Coastal Plain Competitive Oil and Gas Leasing Act - Title I: Statement of Purpose and Definitions - Declares that it is the congressional purpose to: (1) authorize competitive oil and gas leasing development on the Arctic Coastal Plain in a manner consistent with environmental and wildlife protection; and (2) provide a new funding source for the acquisition of critical wildlife habitat. Title II: Coastal Plain Competitive Leasing Program - Directs the Secretary of the Interior to establish and implement a competitive oil and gas leasing program that will result in an environmentally sound program for Coastal Plain resources exploration, development, and production. Declares that this Act is the sole authority for leasing on the Coastal Plain. Directs the Secretary to promulgate rules and regulations to implement this Act. Sets forth the administrative parameters for: (1) lease sales and terms; (2) exploration, development, and production plans; (3) plan approval; (4) bonding requirements; and (5) lease suspension and cancellation. Allows the Secretary to exclude from leasing any areas of particular environmental sensitivity. Requires the Secretary's consent for lease assignments or subletting. Mandates that lessees unite to the greatest extent practicable in collectively adopting and operating under a cooperative or unit plan for oil pools and gas fields. Provides for the confidentiality of privileged or proprietary information regarding development activities which must be furnished to the Secretary. Sets forth civil and criminal penalties for violations of this Act. Provides for adjudication of lease controversies. Sets forth joint, several, and strict liability for environmental damages and removal costs resulting from oil pollution or the discharge of hazardous substances. Provides for expedited judicial review of complaints regarding regulations issued by the Secretary. Requires the Secretary to report annually to the Congress regarding the leasing program under this Act. Repeals certain limitations applicable to subsurface interests owned by the Inupiat Eskimo people. Prohibits any surface disturbance prior to the publication of final environmental regulations for Coastal Plain oil or gas leasing. Applies such regulations to subsurface property interests owned by the Inupiat Eskimo. Title III: Coastal Plain Development Requirements - Directs the Secretary to promulgate environmental protection regulations which ensure that Coastal Plain activities will result in no significant adverse effect on fish and wildlife, their habitat, and the environment. Designates the Sadlerochit Spring area as a special area for wildlife conservation and environmental protection. Authorizes the Secretary to exclude such area from leasing and to designate other Coastal Plain areas as special areas requiring protection. Directs the Secretary to prepare and periodically update a facilities construction and siting plan for oil and gas development and transportation. Authorizes the Secretary to grant rights-of-way and easements across the Coastal Plain in a manner that does not adversely affect fish, wildlife, and the environment. Requires the Secretary to conduct additional studies to monitor the human, marine, and coastal environments. Directs the Secretary to promulgate regulations providing for biannual facility inspections for compliance with environmental and safety regulations. Title IV: Land Reclamation and Reclamation Liability Fund - Makes leaseholders fully responsible and liable for land reclamation within the Coastal Plain and other Federal lands adversely affected by lease activities. Requires establishment of the Coastal Plain Liability and Reclamation Fund within six months of a commercial discovery within the Coastal Plain, to be administered by the holder of the trans-Alaska pipeline right-of-way, who shall collect fees based upon the crude oil volume entering such pipeline. Title V: Disposition of Oil and Gas Revenues - Sets forth an allocation schedule for revenue distribution related to oil and gas leasing within the Arctic National Refuge, Alaska. Mandates that moneys deposited into the Land and Water Conservation Fund be credited to a special account within the Fund.
United States · United States Congress · 9 February 1989
Authorizes the Secretary of the Interior to enter into a specified amendatory contract between the United States and the Uintah Water Conservancy District, Utah, which provides for part of the municipal and industrial water obligation which is currently the District's responsibility to be retained by the United States with a corresponding part to be controlled and marketed within Utah by the United States.