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Official portrait of Sen. Garn, E. J. (Jake) [R-UT]

Sen. Garn, E. J. (Jake) [R-UT]

United States · Official source

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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

Bill· SS. 801 (100th)open

Coal Distribution and Utilization Act of 1987

United States · United States Congress · 19 March 1987

Coal Distribution and Utilization Act of 1987 - Directs the Secretary of Energy to determine whether any proposed interstate coal pipeline distribution system is in the national interest. Requires the Secretary, in making such determination, to make findings concerning the extent to which the system would: (1) help meet national needs for coal distribution and utilization; (2) enhance competition; (3) contribute to national security; (4) reduce coal transportation costs; (5) reduce electric rates; (6) enhance the reliability of supplies of coal and electricity; and (7) affect the environment. Requires an applicant for a pipeline to offer to make available to small and independent producers the lesser of: (1) ten percent of the pipeline's capacity; or (2) the pipeline capacity necessary to satisfy such producers within the geographic region served by the pipeline. Defines a "small and independent producer" as one: (1) producing less than 200,000 tons of coal annually; or (2) not affiliated with another company. Requires the Secretary: (1) to render a decision on a pipeline's application within 18 months of receipt of a completed application; and (2) to notify the Governor of each State in which the pipeline will be located. Directs the Attorney General to conduct an antitrust review of each application. Prohibits the acquisition through eminent domain of: (1) water rights; and (2) historic sites or wildlife refuges, unless there is no feasible or prudent alternative. Requires applications to list each instance where the proposed right-of-way crosses lands in which the United States maintains a mineral interest regarding coal. Requires the Secretary of the Interior to evaluate the effects of approval of such application upon U.S. ability to realize the value of such mineral interest as a result of the approval of the application. Directs the Secretary of the Interior to establish: (1) the fair market value of the Federal coal precluded from being recovered as a result of the proposed right-of-way; and (2) the amount of the reduction of the fair market value of Federal coal which will be more costly to recover as a result of the proposed right-of-way. Directs the Secretary of Energy to establish terms and conditions requiring an applicant to pay the amount established by the Secretary of the Interior. Prohibits any person or governmental entity or any interstate coal pipeline distribution system from controlling, reserving, appropriating, diverting, acquiring, using, or claiming water for export or use within or outside the State granting or denying the export or use of water in an interstate coal pipeline distribution system, unless such control takes place pursuant to the State water law. Delegates to the States the power to regulate the use or export of water in interstate coal pipeline distribution systems. Prohibits this Act from impairing the validity of or in any way preempting any State or local law pertaining to the location, construction, operation, or maintenance of an interstate coal pipeline distribution system except where such State or local law discriminates against interstate coal pipeline distribution systems. Requires all pipelines granted Federal powers of eminent domain to be located underground, to the maximum extent practicable. Prohibits this Act from requiring a State to approve an automatic passthrough of pipeline construction, operation, and maintenance costs. Subjects any interstate pipeline distribution system authorized under this Act to the requirements of the Federal Water Pollution Control Act and any other applicable Federal environmental control laws. Directs the Secretary of Energy to notify the Administrator of the Environmental Protection Agency of applications for an interstate coal pipeline distribution system. Requires the Administrator to conduct a review of the ability of the proposed interstate coal pipeline distribution system to comply with Federal water discharge requirements. Prohibits the Secretary from issuing findings as to whether or not a pipeline is in the national interest unless the Administrator has reported that requirements of the Federal Water Pollution Control Act can be met. Prohibits any applicant from avoiding responsibility for complying with all Federal law related to discharges by transferring it to another person. Authorizes operators of certain interstate coal pipeline distribution systems to enter into contracts with coal shippers to provide transportation if the contract has been filed with the Federal Energy Regulatory Commission (FERC). Prohibits such operators from discriminating unreasonably by refusing to contract with other shippers under similar conditions. Obligates operators of interstate coal pipeline distribution systems to perform only the duties set forth in the contract. Sets forth grievance procedures under which FERC shall order an operator found to be in violation of this Act to provide the service contracted for. Prohibits FERC from approving any contract for pipeline transportation of coal if: (1) the total coal tonnage to be transported under contract exceeds the maximum capacity of the pipeline; or (2) the provision of coal transportation services under such contract would result in a destructive competitive practice.

Bill· SS. 786 (100th)referred

Financial Export Control Act

United States · United States Congress · 19 March 1987

Financial Export Control Act - Amends the Export Administration Act to state congressional findings that loans and other transfers of capital to the Soviet Union and its allies increase the ability of those countries to obtain sensitive goods and technology and to more easily divert funds to purposes inimical to U.S. interests. Declares that it is U.S. policy to use export controls to: (1) restrict the export of capital, the extension of credit, or the transfer of financial resources to destinations or persons abroad in order to promote the national security, including antiterrorism, interests of the United States; and (2) restrict the export of goods and technology where such export will likely support terrorism against U.S. citizens or benefit terrorists or countries supporting international terrorism. Authorizes the President to restrict the export or transfer of goods and technology if such export will likely support terrorism against U.S. citizens or benefit terrorists or countries supporting international terrorism. Provides for negotiations with other countries to obtain their cooperation with such export controls on capital, goods, and technology. Requires export license applications for the export of capital to be submitted to the Secretary of the Treasury, who shall make all determinations with respect to such application. Requires the annual report on the administration of the Export Administration Act of 1979 to include a report on actions taken to carry out export controls on capital. Amends the Federal Deposit Insurance Act to require that any notice of a change in control of an insured bank include the nationality of the person or persons making the acquisition. Sets forth criminal penalties for violation of any change in control requirement. Requires Federal banking agencies to disapprove any proposed acquisition which would result in the ownership or control of an insured bank by a country subject to national security export controls or a national agency, or instrumentality of any such country.

Bill· SS. 764 (100th)referred

A bill to deny funds for projects using products or services of foreign countries that deny fair market opportunities.

United States · United States Congress · 18 March 1987

Amends the Airport and Airway Improvement Act of 1982 to deny the use of funds provided under such Act for projects using products or services of foreign countries which are listed by the United States Trade Representative (USTR) as not offering reciprocal opportunities for American firms. Requires the USTR to: (1) determine whether each foreign country denies fair and equitable market opportunities for U.S. products and suppliers in procurement, or fair and equitable market opportunities for United States bidders, for construction projects that cost more than $500,000 and are funded by the government of such foreign country; and (2) maintain and publish annually a list of countries for which an affirmative determination is made. Allows an exception to such a denial of funds if the Secretary of Transportation determines: (1) the denial of funds would not be in the public interest; (2) products of the same class or kind are not produced or offered in the United States or in any foreign country not listed by the USTR in sufficient and reasonably available quantities and of a satisfactory quality; or (3) exclusion of such product or service from the project would increase the cost of the overall project contract by more than 20 percent.

Bill· SS. 761 (100th)open

A bill to provide for the establishment of a Western Historic Trails Center in the State of Iowa, and for other purposes.

United States · United States Congress · 17 March 1987

Establishes the Western Historic Trails Center in Council Bluffs, Iowa, as a unit of the National Park System. Directs the Secretary of the Interior to establish the Western Historic Trails Center Commission to develop a draft management plan and oversee its implementation. Requires the Secretary to administer the Center and acquire lands, artifacts, and provide technical assistance. Requires the Commission to submit to the Secretary for approval a management plan which provides for the interpretation, celebration, and research of major historic events surrounding the westward expansion of the United States. Limits Federal funding of land acquisition and construction to 75 percent of the aggregate costs. Authorizes appropriations.

Bill· SS. 752 (100th)referred

National Space Grant College and Fellowship Act

United States · United States Congress · 17 March 1987

National Space Grant College and Fellowship Act - Establishes within the National Aeronautics and Space Administration (NASA) a national space grant college and fellowship program to provide financial and other assistance for the exploration and development of space resources. Requires such program to advise the Administrator of NASA and coordinate Federal efforts. Authorizes the Administrator to make grants or enter into contracts to assist any space grant and fellowship program for up to 66 percent of total cost except for special grants. Directs the Administrator to make grants or enter into contracts for up to 100 percent of costs for identified specific national needs and problems relating to space. Authorizes the Administrator to designate any institution of higher education as a space grant college if it maintains a balanced program in fields related to space and meets other qualifications. Authorizes the Administrator to designate an association or alliance as a space grant regional consortium if it is established to share research and facilities in any field related to space and meets other qualifications. Directs the Administrator to support a space grant fellowship program for educational and training assistance to graduate students in fields related to space. Directs the Administrator to establish the space grant review panel as an independent committee to advise the Administrator on implementing the program. Requires interagency cooperation among all Federal agencies with authority over matters relating to space, authorizing the sharing of personnel and facilities and requiring the sharing of information. Directs the Administrator to report biennially to the Congress and the President on the activities of the program, subject to the review of the Directors of the Office of Management and Budget and of the Office of Science and Technology Policy. Authorizes appropriations for FY 1988 through 1991.

Bill· SS. 694 (100th)open

Energy Security Act of 1987

United States · United States Congress · 10 March 1987

Energy Security Act of 1987 - Directs the President to establish a national oil import ceiling level beyond which foreign crude and oil product imports as a share of U.S. oil consumption shall not rise. Prohibits such ceiling level from exceeding 50 percent of U.S. crude and oil product consumption for any annual period. Requires the President to: (1) annually submit projections to the Congress regarding anticipated U.S. oil production, demand, and imports for the subsequent three years; (2) certify whether imports of crude oil and oil products will exceed domestic production; and (3) submit an Energy Production and Oil Security Policy to the Congress to prevent foreign oil dependence from exceeding the national oil import ceiling for any year in which foreign oil imports are projected to exceed such amount. Grants the Congress ten continuous session days to review such oil projections and to determine whether the ceiling level will be violated within three years. Authorizes the President's energy plan to include: (1) an oil import fee; (2) energy conservation actions; (3) expansion of the Strategic Petroleum Reserves; and (4) production incentives for domestic oil and gas.

Resolution· SRESS.Res. 164 (100th)passed

A resolution calling on the President to respond to the violations by Japan of the U. S.-Japan agreement on semiconducters.

United States · United States Congress · 10 March 1987

Expresses the sense of the Senate that: (1) the President should take appropriate actions under the Trade Act of 1974 to remedy and prevent further violation of the U.S.-Japan agreement on semiconductors by Japan, to induce compliance, to compensate the United States for the harm suffered because of non-compliance by Japan, and to prevent further injury to the United States; (2) such actions should serve to increase international semiconductor trade and help enforce commitments and achieve the objectives of the agreement; (3) such actions should penalize those who have acted inconsistently with the agreement; and (4) such actions may be directed at products which contain semiconductors.

Bill· SS. 684 (100th)referred

A bill to amend the Internal Revenue Code of 1986 to make permanent the targeted jobs credit.

United States · United States Congress · 6 March 1987

Amends the Internal Revenue Code to make permanent the targeted jobs income tax credit. (Present law terminates such credit for employees who begin work after December 31, 1988.) Makes permanent the authorization of appropriations with respect to the certification requirements of such tax credit.

Bill· SS. 650 (100th)referred

Financial Services Regulatory Efficiency Act of 1987

United States · United States Congress · 3 March 1987

Financial Services Regulatory Efficiency Act of 1987 - Part 1: Functional Regulation of Financial Institutions - Amends the Home Owners' Loan Act of 1933 to provide that no Federal association or institution insured by the Federal Savings and Loan Insurance Corporation (FSLIC) shall be subject to the supervision of the Federal Home Loan Bank Board (FHLBB) or the FSLIC upon the date such association or institution loses its status as a qualified thrift lender. Amends the National Housing Act to: (1) require the payment of FSLIC insurance premiums semiannually; (2) authorize the FSLIC to assess premiums against institutions based on the risks that the institutions present to the insurance fund; (3) authorize the FSLIC to pay premium rebates to certain institutions; and (4) require premiums to be paid in advance. Provides that no funds of any institution paid to the FSLIC shall be subject to any legal process by creditors of such institution. Establishes a uniform definition of "qualified thrift lender," including asset composition requirements, for purposes of the Federal Home Loan Bank Act, the Home Owners Loan Act of 1933, and the National Housing Act. Allows a gradual restructuring over ten years of the asset portfolios of State-chartered mutual savings banks included as qualified thrift lenders. Authorizes the FSLIC to grant temporary exceptions to asset composition requirements when severe economic or financial conditions threaten the system of insured institutions. Exempts certain small institutions from asset composition requirements. Bars an institution that loses its status as a qualified thrift lender from regaining such status for five years. Directs the FHLBB to give prompt notification of the failure of an FSLIC-insured Federal institution to meet the asset composition requirements for a qualified thrift lender to the institution, the Federal Banking Agency (FBA), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve Board (FRB). Requires a disqualified institution, within a specified period, to either apply for and receive a State bank charter or receive a national bank charter. Requires the FDIC to insure the institution upon the granting of such charter. Provides for a two-year transition from regulation of a disqualified institution as a qualified thrift institution to regulation as a bank. Terminates FSLIC insurance and membership in, or eligibility for advances from, any Federal Home Loan Bank for such institution upon the granting of such charter. Permits the FHLBB or the FSLIC to retain jurisdiction over a disqualified institution for purposes of completing any administrative or enforcement action against such institution. Requires each FDIC-insured Federal savings bank, within 90 days after enactment of this Act, to elect either: (1) to be regulated as a bank, to retain FDIC insurance, and to receive a national bank charter; or (2) to be regulated as a qualified thrift lender and, if qualified, to be insured by the FSLIC. Amends the National Bank Act to require the Director of the FBA to grant a national bank charter to any Federal savings and loan association, Federal savings banks, or State-chartered savings and loan association, savings bank, building and loan association, homestead association, or cooperative bank that is disqualified as a qualified thrift lender and that fails to apply for, or receive, a State bank charter. Amends the Home Owners' Loan Act of 1933 to require an institution which satisfies qualified thrift lender requirements to be granted a Federal association charter if, at the time it applies, it is a qualified thrift lender, has FDIC-insured accounts, is not subject to any administrative or enforcement action, and is in compliance with specified banking laws and regulations. Amends the Bank Holding Company Act of 1956 to exclude any qualified thrift lender that is FSLIC-insured or chartered as a Federal association from the definition of a "bank" for purposes of such Act. Makes technical and conforming amendments to the Federal Home Loan Bank Act, the Home Owners' Loan Act of 1933, the National Housing Act, and the Federal Deposit Insurance Act. Sets forth provisions governing the liability of the FSLIC and the FDIC to indemnify each other for costs incurred as a result of the failure of institutions which have converted from insurance by one corporation to insurance by the other pursuant to this Act. Part 2: Reorganization of the Regulatory Responsibilities for Commercial Banking Organizations - Establishes the FBA within the Department of the Treasury, replacing the Office of the Comptroller of the Currency. Directs the FBA to execute all Federal laws relating to the establishment, regulation, supervision, and examination of national banks and their holding companies. Replaces the Comptroller of the Currency and the Deputy Comptroller with the Director of the FBA and Deputy Directors. Requires the salaries of FBA employees to be considered part of the expenses of bank examinations. Requires employee compensation to be paid from bank assessments. Amends the Federal Reserve Act to transfer FDIC-insured banks (State-chartered, FDIC-insured banks) that are not members of the Federal Reserve System to the FRB. Authorizes the FRB to examine State nonmember insured banks, applicants, and affiliates. Requires FRB examiners and State supervisory authorities to share examination reports. Requires such banks to maintain adequate capital in relation to the character and condition of their assets, deposit liabilities, and other corporate responsibilities. Prohibits such a bank from reducing or retiring its capital without FRB approval. Requires each Federal Reserve Bank to establish a State Advisory Council to advise such Bank on the coordination of State and Federal supervision and examination activities. Repeals provisions prohibiting ownership of competing corporations by corporations organized to engage in international or foreign banking. Part 3: Bank Holding Company Amendments - Amends the Bank Holding Company Act of 1956 to define the "appropriate regulatory agency" of a bank holding company as: (1) the FBA when the principal bank subsidiary of the holding company is a national bank; and (2) the FRB when such principal subsidiary is a State bank or when the holding company is an international class holding company. Requires 60 days' prior notice to (currently, prior approval by) the appropriate regulatory agency of bank holding company formations and acquisitions. Authorizes consummation of such formation or acquisition unless, within such 60-day period, the appropriate regulatory agency has issued an order: (1) disapproving the transaction; or (2) suspending such period in order to obtain additional relevant information or to hold a hearing to determine whether to disapprove such transaction based on the recommendation of the FRB or the State supervisor with respect to an action by a State bank or of the FBA Director with respect to action by a national bank. Establishes a 30-day notice requirement for a company's acquisition of a bank through a reorganization in which persons exchange their shares of the bank for the same proportional share interest in a newly formed bank holding company, if: (1) such bank and holding company do not conduct activities other than banking or managing and controlling banks; and (2) such holding company meets capital and financial standards prescribed by the appropriate regulatory agency. Requires the exchange of transaction notices and comments between appropriate regulatory agencies. Permits an appropriate regulatory agency to dispense with: (1) interagency notice requirements and hearing requirements if immediate action is required to prevent the probable failure of a bank or holding company involved in the transaction; and (2) hearing requirements if an emergency exists requiring expeditious action. Requires any notificant not required to file a premerger notification under the Clayton Act to file lesser information as specified by the Attorney General, unless such a need for quick action exists, in which case the appropriate agency shall provide the Attorney General an opportunity to comment on the transaction. Bars judicial review of an agency failure to disapprove a transaction or an agency order not to disapprove a transaction unless such order contains restrictions. Specifies circumstances under which a transaction may be consummated before the expiration of the 60-day notice period. Directs an appropriate regulatory agency to consider the competitive effects of a proposed transaction only when transaction information is not submitted to the Attorney General for review because of aforementioned circumstances requiring quick action. Transfers the responsibility for determining permissible activities for bank holding companies from the FRB to the FBA. Authorizes the FBA Director to designate permissible activities that are closely related to banking or managing or controlling banks and to prescribe any appropriate limitations to such activities. Provides for the review and veto by the FRB of rules proposed by the FBA to designate such activities. Permits a veto if the FRB determines that such a rule would impair the stability of the banking system or adversely affect safe and sound financial practices. Deems such a veto to be an order for purposes of judicial review. Requires a bank holding company to give the appropriate regulatory agency 60 days' prior notice before engaging in any authorized activity for the first time. Permits the holding company to commence such activity unless the agency issues an order disapproving it within such period. Lists agency criteria for reviewing proposed activity or an agency order not to disapprove an activity, unless such order contains restrictions. Provides for the suspension of the 60-day period if the appropriate agency determines that a proposed activity is not authorized in order for the FBA to determine whether such activity is permissible. Authorizes the exchange of notices and comments on proposed activities between the FBA and the FRB. Permits the appropriate regulatory agency to dispense with notice and comment requirements under emergency circumstances. Gives the rulemaking and administrative authority for bank holding companies to the appropriate regulatory agencies. Requires each agency to provide the other with notice of any proposed change in rules, policy statements, or prudential standards for bank holding companies and subsidiaries and with a report on the basis for any decision to proceed with an action despite adverse comments from the other agency. Prohibits either agency from changing capital adequacy requirements or other prudential standards without the consent of the other. Requires the FRB and the FBA to: (1) coordinate bank holding company reporting requirements; (2) submit copies of reports on the condition of such a company to the FDIC; (3) accept in fulfillment of such reporting requirements for nonbank subsidiaries information required to be submitted pursuant to the Securities Exchange Act of 1934; and (4) minimize examinations of such subsidiaries by using the reports of applicable regulatory agencies or public or private bodies and by focusing on activities adversely affecting the safety and soundness or financial condition of a bank holding company subsidiary bank. Requires a bank holding company to: (1) notify the old and the new appropriate regulatory agency within ten days of a transaction or change in asset size which causes a change in the agency with regulatory jurisdiction over such company; and (2) register with the new appropriate regulatory agency within 30 days after such change. Requires the FRB to publish annually the amount of assets sufficient to cause a bank holding company to qualify as an international class holding company. Part 4: Deposit Insurance Amendments - Amends the Federal Deposit Insurance Act and the Federal Home Loan Bank Act to direct the FDIC and the FHLBB to establish uniform minimum capital standards and accounting principles for FDIC and FSLIC-insured institutions to be phased in over seven years. Authorizes the FDIC and the FHLBB to vary such standards during periods of severe economic and financial conditions. Requires the Secretary of the Treasury to prescribe such standards if the FDIC and the FHLBB fail to agree within two years. Permits each appropriate Federal banking agency to require higher levels of capital for institutions subject to its supervision. Authorizes the FDIC to: (1) establish a formula for determining the annual assessment rates for insured banks, and set the assessments for insured banks, on the basis of risks that the banks present to the Permanent Insurance Fund; and (2) vary such rates from the minimum of one-twelfth of one percent to a maximum of one-half of one percent of the bank's average assessment base. Modifies the structure of the FDIC Board of Directors by increasing the number of Board members from three to five and adding the Chairman of the FRB and the FBA Director as nonvoting members. Requires the President to designate the Chairman and Vice Chairman of the Board from among the voting members. Authorizes the FDIC: (1) in conjunction with the appropriate regulatory agency, to examine insured institutions that are seriously troubled financially and a sample of other insured banks; (2) to accompany the appropriate regulatory agency on other examinations of nontroubled insured banks; and (3) to conduct an independent examination of an insured bank in a condition likely to result in a loss to the FDIC. Authorizes the FDIC to request the appropriate regulatory agency to take enforcement action, or if such agency declines, to take such action independently against any FDIC-insured bank or its officers or employees about to violate statutory standards relating to unsafe or unsound banking practices. Deletes as factors to be considered by the FDIC Board when evaluating bank applications for deposit insurance: (1) the convenience and needs of the community to be served by the bank; and (2) whether the bank's corporate powers are consistent with the purposes of the Federal Deposit Insurance Act. Designates the FRB (currently, the FDIC) as the "appropriate Federal banking agency" for State chartered nonmember insured banks and foreign banks having insured branches for purposes of the Federal Deposit Insurance Act. Requires each insured State nonmember bank and each foreign bank having an insured branch which is not a Federal branch to make reports of condition to the Federal Reserve Bank in whose district such bank is located. Transfers from the FDIC to the FRB the authority to consent to the acquisition of foreign banks by State nonmember insured banks and to consent to the conversion of insured banks into State nonmember insured banks. Authorizes the appropriate Federal agency (currently, the FDIC) to require banks to report on the identity of persons receiving federally-related mortgage loans and on the nature and amount of such loans. Subjects to disapproval by the appropriate Federal regulator or State supervisor the acquisition of a closed insured bank or the merger of a failing insured bank in mutual form. (Current law requires approval of such an acquisition or merger by the primary Federal or State supervisor.) Directs the FDIC, before authorizing such an acquisition or merger, to: (1) provide the Attorney General with an opportunity to comment; and (2) consider the competitive effects of such transaction. Requires prior notice to (currently, prior approval by) the responsible agency before certain merger transactions among insured and noninsured banks may occur. Applies to such merger transactions the notice requirements applicable to bank holding company formations and acquisitions. Amends the Clayton Act to exempt from premerger notification requirements certain bank transactions subject to agency disapproval under the Home Owners Loan Act of 1933, the National Housing Act, the Federal Deposit Insurance Act, and the Bank Holding Company Act where the agency has found that it must act immediately to prevent probable failure of the bank involved. Part 5: Expansion of State Supervision - State Depository Institutions Supervision Certification Act of 1987 - Directs the FRB, the FBA, and the FDIC to carry out this Act in a manner designed to transfer Federal supervisory and enforcement authority over State-chartered banks and holding companies to the States. Requires the FHLBB to establish a program designed to do the same with respect to State-chartered insured institutions. Directs the FRB to solicit States' views in promulgating regulations to establish criteria for certifying State banking agencies to assume Federal supervisory and enforcement responsibilities over State banks and affiliates. Sets forth requirements for State applications for certification. Subjects a grant of certification to such conditions and limitations as the FRB deems appropriate and to the residual authority and oversight of the FRB. Authorizes the granting of various Federal responsibilities in accordance with the circumstances of each State. Permits the FDIC to decline deposit insurance recommended by a certified State banking agency. Requires the FRB to submit copies of certification applications to the FBA and the FDIC for review and comments. Empowers and directs the FDIC to disapprove an application upon finding it involves undue risks to the deposit insurance fund. Sets forth the authority and responsibility of the FRB to review the performance of certified State banking agencies. Authorizes the FRB to disapprove a State agency action on an application, policy, or rule relating to bank holding companies. Gives the FRB residual authority to take enforcement actions with respect to any institution for which the FRB is not otherwise the appropriate regulatory agency. Requires certification renewal every five years. Authorizes the FRB to: (1) modify or terminate a State's certification if necessary to ensure compliance with this Act or with FRB regulations or if warranted because of changes in State supervisory programs; and (2) suspend or revoke a certification upon determining that a State agency's action is inconsistent with Federal law. Authorizes the FRB, the FDIC, the FBA, and FHLBB to provide certification training assistance. Requires the FRB, the FDIC, and the FHLBB to cooperate with any cooperative interstate examination agency established by the States or the private sector to provide examination reports to agencies. Exempts any actions of the FRB, the FDIC, or the FHLBB with respect to certifications from judicial review. Part 6: Simplification Amendments - Eliminates requirements for prior approval from, or notification to, a Federal agency for a national or State bank to establish branches (including electronic facilities only where such facilities are considered to be branches under State law) unless the FBA or the FRB determines that prior approval or notice is necessary because of adverse considerations relating to the financial or managerial resources of the bank involved. Authorizes national banks to engage in interstate branching to the same extent that State-chartered banks are so authorized. Exempts depository institutions having total assets of less than $300,000,000 from the Home Mortgage Disclosure Act of 1975 (1985 dollars) and the Community Reinvestment Act of 1977 (1987 dollars). Repeals the Federal Financial Institutions Examination Council Act of 1978, thus terminating the Financial Institutions Examination Council. Divides the expenses and assets of the Council equally among the FBA, the FRB, the FDIC, the FHLBB, and the National Credit Union Administration. Amends the Federal Deposit Insurance Act to include FSLIC-insured institutions as "insured banks" for purposes of provisions requiring prior approval of mergers. Continues the FDIC-insured status of a State member bank that becomes a State nonmember bank. Eliminates the requirement that insured State non-member banks receive the FDIC's prior approval to reduce or retire capital notes and debentures. Amends the Change in Bank Control Act of 1978 to authorize regulatory agencies to exempt certain transactions from change in control application requirements in the public interest. Amends the Federal Deposit Insurance Act to prohibit any person who has been convicted of any criminal offense involving dishonesty or a breach of trust from serving as a director, officer, or employee of an insured bank or a bank holding company without the written consent of the FDIC. Permits the FDIC to waive subsequent written consent requirements for such person with respect to the same offense. Exempts the FBA, the FDIC, the FRB, and the FHLBB from: (1) National Historic Preservation Act requirements for consideration of the effects of any undertaking on any site or building included as a national historic building before approving Federal expenditures or granting any license; and (2) National Environmental Policy Act requirements for detailed environmental statements on proposed actions. Amends the Federal Reserve Act to transfer to the Secretary of the Treasury authority for engraving, printing, and delivery of Federal Reserve notes. Part 7: Securities Simplification Act of 1987 - Amends the Securities Act of 1933 to delete provisions exempting any security issued or guaranteed by a bank from registration requirements. Includes as "exempt securities": (1) any interest in a depository instrument insured by the FSLIC and issued by a savings and loan association or similar institution that is supervised and examined by a State or Federal authority; (2) any security of a savings and loan association or savings bank issued in connection with a conversion of such entity from the mutual to stock form of ownership; (3) securities exchanged as part of a reorganization of a corporation into a holding company; and (4) a bank deposit account, a bank certificate of deposit, a banker's acceptance, a bank letter of credit, a bank debit account arising from a credit card, or any other bank deposit instrument when deemed to be a "security." Deletes provisions which excluded as "exempt securities" securities issued by a savings and loan association where the issuer took a fee from the purchaser exceeding three percent of the face value of the securities. Authorizes the Securities and Exchange Commission (SEC) to exempt from registration requirements any persons, security, or transaction if such exemption is necessary in the public interest and is consistent with the protection of investors. Designates as the "appropriate regulatory agency" for purposes of such Act: (1) the FBA for national banks, banks operating under the Code of Law for the District of Columbia, and bank holding companies where the principal bank subsidiary is a national or district bank; and (2) the FRB for all State banks, holding companies where the principal bank subsidiary is a State bank, and international class holding companies. Prohibits the FBA or the FRB from delegating to any State pursuant to the State Depository Institutions Supervision Certification Act of 1985 specified authority over the regulation of municipal securities or the national system for clearance and settlement of securities transactions. Repeals provisions requiring various bank regulatory agencies to administer and enforce disclosure requirements under such Act in lieu of the SEC. Requires the Attorney General, in performing identification and processing of fingerprints of officers and employees of members of national securities exchanges, brokers, dealers, registered transfer agents, and registered clearing agents, to provide the SEC and self-regulatory organizations with access to all criminal history record information. Amends the Investment Company Act of 1940 to prohibit the purchase by a registered investment company of shares of a broker, dealer, or investment adviser only where such person is an investment adviser to, or principal underwriter or promoter of, such registered company. Permits joint transactions between registered investment companies that have the same investment adviser or principal underwriter without prior SEC approval, if specified conditions are met. Provides that approval by an investment company's board of directors of the company's contract with, or compensation to, its investment adviser prevents any recovery in litigation brought by the SEC or by a shareholder of such company against such adviser for breach of fiduciary duty with respect to such compensation. Imposes litigation costs on parties that knowingly bring unfounded actions. Permits the SEC to grant certain orders which present no significant legal issue without prior public notice and comment. Amends the Investment Advisers Act of 1940 to exempt from registration requirements any investment adviser who furnishes investment advice which is solely incidental to personal financial planning, without recommending specific securities or receiving any compensation in connection with a securities transaction. Amends the Trust Indenture Act of 1939 to require an indenture trustee to file an annual report to indenture security holders concerning the trustee's eligibility and specified events only if a change in such eligibility, or if such an event, has occurred with the previous 12 months. Repeals the Public Utility Holding Company Act. Amends the Racketeer Influenced and Corrupt Organizations Act (RICO) provisions of the Federal criminal code to prohibit a civil action under RICO against any person who has not been convicted of a RICO violation, or of two acts of racketeering activity included in the pattern of racketeering activity, alleged in the complaint. Prohibits any recovery of damages for pain and suffering. Allows the Attorney General to sue on behalf of the Government where the United States is injured as a result of a RICO violation and to recover treble damages and legal fees. Requires a plaintiff to commence an action within two years after the latest criminal conviction of the defendant. Part 8: National Bank Reorganizations - National Bank Corporate Reorganization Act - Revises the procedure applicable to corporate restructuring of national banking associations. Describes authorized types of reorganizations, including: (1) mergers with, or conversions into, State or Federal thrift institutions; and (2) restructuring under which a national bank becomes a subsidiary of a bank holding company or is acquired by a bank holding company. Sets forth reorganization procedures. Provides that each reorganization plan must be approved by a majority of the entire board of directors and by shareholders owning at least two-thirds of the capital stock outstanding. Requires a plan to specify the amount of cash or securities to be paid to the shareholders for their shares and the date and manner of the exchange. Outlines a revised share valuation procedure which includes selection of an appraisal committee of three persons. Provides for a limited court review of the committee's determination. Requires that dissenting shareholders be promptly paid the value of their shares, including an interest allowance, upon consummation of the reorganization. Describes the corporate status of the institution resulting from such reorganization as the combined corporate existence of the institutions or companies involved. Terminates the franchise of a national bank automatically upon its conversion into, or consolidation or merger with, another Federal or State depository institution under a Federal or State charter, other than a national bank charter. Exempts certain noncompetitive types of reorganizations from requirements for FBA approval and from notice, comment, and delayed consummation periods of the Bank Merger Act and the delayed consummation period of the Bank Holding Company Act. Reduces from two-thirds to a majority the number of national bank directors who must reside in the State, territory, or district in which the bank is located throughout their terms of office. Eliminates a prior residency requirement.

Bill· SS. 653 (100th)referred

A bill to amend the Bank Holding Company Act of 1956 with regard to export trading companies.

United States · United States Congress · 3 March 1987

Amends the Bank Holding Company Act of 1956 to redefine "export trading company" to include third-country trade revenues as export revenue. Amends the Federal Reserve Act to exempt from affiliate-loan restrictions covered under such Act transactions with an affiliate which is an export trading company as defined above. Prohibits the Board of Governors of the Federal Reserve System from disapproving a proposed investment solely because of the proposed assets-to-equity ratio of an export trading company unless such ratio is greater than 25-to-one. Prohibits the Board from imposing a dollar limit on the amount of goods an export trading company may maintain in inventory, except under specified circumstances (such as such action being found necessary to prevent unduly burdensome risks being borne by the investor bank holding company). Amends the Export Trading Company Act of 1982 to require an applicant for a certificate of review (authorizing the applicant to engage in export trade activities) to state in such application the members seeking export trade protection under the certificate. Defines "applicant" for purposes of the issuance of such certificates. Requires a certificate of review to be issued to any applicant that establishes that its specific export trade activities and methods of operation will not result in a substantial lessening of competition or restraint of trade within the United States. Revises provisions relating to the admissibility of evidence in a proceeding requested because the Secretary of Commerce has denied an application to issue a certificate of review. Protects any member named in an issued certificate of review from a civil or criminal action brought under the antitrust laws. Revises the definition of "export trade" and defines the term "member" under the Export Trading Company Act of 1982 to mean any entity or person that is seeking protection under the certificate application. Expresses certain findings of the Congress concerning the need for an export promotion data system. Directs the Secretary of Commerce to develop and maintain an export promotion data system which performs specified functions and contains industrial and foreign market data. Requires such system to use the most effective means of disseminating data and information electronically through the Department of Commerce, and to monitor, organize, and disseminate specified information concerning U.S. export of goods and services and information on foreign countries involved in such exports. Requires a report to the Congress within six months after the enactment of this Act concerning the implementation of these provisions. Directs the Secretary to study the collection of trade-related data by the United States, and whether such information can be effectively disseminated to other sources. Directs the Secretary to consult with specified sources and departments in conducting such study. Specifies various types of data which are to be considered "trade-related data" by the Secretary in conducting such study. Requires each Federal department to cooperate fully with the Secretary in providing requested information concerning such study. Directs the Secretary, within 18 months after the enactment of this Act, to report the findings and recommendations resulting from such study to the Senate Finance Committee and the House Ways and Means Committee.

Bill· SS. 651 (100th)referred

Business Practices and Records Act of 1987

United States · United States Congress · 3 March 1987

Business Practices and Records Act of 1987 - Amends the Foreign Corrupt Practices Act to rename such Act the Business Practices and Records Act. Amends the Securities Exchange Act of 1934 to prohibit the imposition of criminal liability on securities issuers who fail to maintain an internal accounting controls system. Prohibits imposing civil injunctive relief with respect to: (1) any issuer who fails to maintain the required accounting system if the issuer attempted in good faith to meet the requirements; or (2) any person other than an issuer in connection with an issuer's failure to comply with such requirements, unless such person knowingly caused the issuer to fail to comply. Prohibits anyone from knowingly circumventing such accounting system for a purpose inconsistent with the accountability and accuracy goals of such system. Requires only good faith efforts at ensuring compliance by issuers who hold 50 percent or less of the voting power of domestic or foreign firms. Defines "reasonable assurances" and "reasonable detail." Repeals a provision relating to the unlawful use of the mails by a securities broker or dealer to affect a foreign exchange. Amends the Business Practices and Records Act to revise the prohibition against domestic concerns using any means of interstate commerce to make payments to a foreign official to obtain business. States that such a payment made directly or indirectly to a foreign official is illegal. Prohibits such payments that are made to: (1) influence a foreign official's act or induce such an official to violate a legal duty; or (2) induce a foreign official to affect a foreign government's act. Prohibits domestic concerns from using interstate commerce to direct or authorize an agent to make such a payment to a foreign official. Exempts from such prohibitions: (1) payments to foreign officials to expedite or to secure the performance of routine governmental action; (2) payments which constitute tokens of regard or esteem; (3) expenditures associated with selling, purchasing, or demonstrating goods; or (4) ordinary expenditures associated with performing a contract with a foreign government. Revises the fines and criminal penalties for violations of such Act. Empowers the Attorney General to undertake all civil investigations necessary to enforce the Act.

Bill· SS. 612 (100th)open

A bill to repeal a provision of Federal tort liability law relating to the civil liability of Government contractors for certain injuries, losses of property, and deaths and for other purposes.

United States · United States Congress · 26 February 1987

Repeals provisions of the Department of Defense Authorization Act, 1985 relating to the civil liability of Government contractors for injuries, property losses, or deaths arising out of nuclear weapons testing programs. Makes the period during which such provisions were in effect inapplicable for purposes of the tolling of any statute of limitations for claims.

Bill· SS. 604 (100th)open

Omnibus Taxpayers' Bill of Rights Act

United States · United States Congress · 26 February 1987

Omnibus Taxpayers' Bill of Rights Act - Requires the Secretary of the Treasury to prepare a statement setting forth in nontechnical terms: (1) the rights and obligations of a taxpayer and of the Internal Revenue Service (IRS) during a tax audit; (2) the procedures by which a taxpayer may appeal adverse decisions, prosecute refund claims, and file complaints; and (3) the procedures that the IRS may use in enforcing revenue laws. Directs the Secretary to transmit drafts of such statement to specified congressional committees and to distribute the final statement to all taxpayers with tax forms sent by the IRS. Amends the Inspector General Act of 1978 and other Federal law to establish within the Department of the Treasury an Office of Inspector General. Transfers to such Office the existing audit and investigation units of the Department. Prohibits the Inspector from reviewing: (1) monetary, fiscal, and tax policy; and (2) the exercise of legal judgment in the investigation and litigation of cases. Authorizes the Secretary to: (1) withhold from the Inspector requested information that the Secretary determines will jeopardize the success of an ongoing investigation or litigation, confidential sources, or the national security; and (2) prohibit the Inspector from undertaking or continuing an audit or investigation under limited circumstances described in this Act. Requires the IRS, upon taxpayer request, to conduct any interview regarding a deficiency assessment at a reasonable time and place convenient to the taxpayer and to the IRS, and to permit the taxpayer, at his or her own expense, to record the interview. Authorizes the IRS interviewer to record such interview if the taxpayer has been given prior notice and is provided, upon request and payment of reproduction costs, with a transcript of the recording. Requires the interviewer to warn the taxpayer that: (1) he or she has a right to remain silent; (2) any statement the taxpayer makes may be used against him or her; and (3) he or she has the right to the presence of an attorney, certified public accountant, enrolled agent, or enrolled actuary. Permits a waiver of such rights if voluntarily and knowingly made. Amends Federal law to require the Comptroller General of the General Accounting Office to: (1) conduct audits of the IRS with respect to the efficiency, uniformity, and equity of the internal revenue laws (current law specifies no particular focus for such audits); and (2) conduct special audits or investigations of internal revenue law administration upon the request of any congressional committee or Member of Congress. Requires the Comptroller's annual report to the Congress to include specified findings concerning IRS management, efficiency, procedures, and structure. Divests of its finality a vote of the Joint Committee on Taxation to disapprove a Comptroller audit of the IRS. Designates such vote as a recommendation to disapprove an audit and makes such recommendation subject to congressional approval. Prohibits evaluations of IRS personnel based on revenue collected from taxpayers as a result of audits or investigations involving such personnel. Amends the Internal Revenue Code to prescribe criminal penalties for: (1) any investigation by an officer or employee of the United States in connection with Federal tax laws that inquires into the beliefs, associations, or activities of any individual or organization; or (2) the maintenance of any records containing information derived from such an investigation. Creates a civil cause of action in Federal court (regardless of the amount in controversy) for any taxpayer aggrieved by such prohibited investigation or recordkeeping. Authorizes both equitable remedies and awards of damages, including punitive damages, litigation costs, and reasonable attorney fees, in such cases. Extends from ten to 30 days the period between the required notice to a person who neglects or refuses to pay tax liability and a levy on such person's salary, wages, or other property. Specifies information that must be incorporated in such notice, including possible alternative actions and the appropriate appeals procedures. Adds to the circumstances triggering termination of such a levy: (1) an agreement between the taxpayer and the Secretary for payment of the liability; and (2) the Secretary's determination that the taxpayer's financial condition precludes enforceability of the liability. Revises the list of property exempt from levy to: (1) increase the exempt amount permitted for certain personal effects, the property of a business, and wages; (2) add an exemption for certain deposits in qualified institutions; and (3) provide an express exemption, except under limited circumstances specified in this Act, for the taxpayer's principal residence, a motor vehicle used by the taxpayer as the primary means of transportation to work, and any tangible personal property essential to the operation of the taxpayer's business in cases when a levy would prevent the taxpayer from carrying on such business. Prohibits a levy on any property when levy and sales expenses would exceed either the liability for which the levy is made or the fair market value of the levied property. Sets forth situations in which the Secretary must release a levy. Applies to jeopardy levies the administrative and judicial review procedures currently applicable to jeopardy assessments. Authorizes the Secretary, in certain cases, to enter into a binding agreement with a taxpayer under which such taxpayer may pay tax liability in installments. Requires the Secretary to offer in writing to enter such an agreement with any individual: (1) whose tax liability is $20,000 or less; and (2) who has not been delinquent in installment tax payments under similar agreements during a specified period. Permits the Secretary, after proper notice and a hearing, to modify or annul such an agreement upon the finding that the financial condition of the affected taxpayer has significantly changed. Requires the Secretary to abate in full any deficiency, including penalty or interest, completely attributable to erroneous advice in writing given to a taxpayer by an IRS officer or employee in response to such taxpayer's specific inquiry. Directs IRS officers and employees, when giving oral advice to a person, to inform such person that the contents of such communication are not binding on the IRS. Authorizes the IRS Ombudsman, upon application filed by a taxpayer, to issue a Taxpayer Assistance Order if, in the determination of the Ombudsman: (1) the taxpayer is suffering or is about to suffer from an unusual or irreparable loss as a result of the manner in which the internal revenue laws are being administered by the Secretary; and (2) the Secretary has failed to carry out any of his or her duties or has violated any provision of law. Allows the terms of a Taxpayer Assistance Order to require the Secretary to release property of the taxpayer levied upon or to cease or refrain from certain actions. Requires the Secretary to obey any Taxpayer Assistance Order issued by the Ombudsman. Allows an administrative appeal of tax liens. Revises the criteria according to which the Secretary determines a minimum sale price for property seized by levy and subject to a tax sale. Prohibits the Secretary from authorizing a class audit of taxpayers in a particular business or trade until each group member is given proper notice and the opportunity either to file an amended return or to challenge the Secretary's findings at a hearing. Places upon the IRS the burden of proof on all issues in all administrative and judicial proceedings between the IRS and a taxpayer. Applies the rulemaking provisions of the Administrative Procedure Act to all IRS rules and regulations prescribed by the Secretary.

Bill· SS. 585 (100th)referred

Intergovernmental Regulatory Relief Act of 1987

United States · United States Congress · 26 February 1987

Intergovernmental Regulatory Relief Act of 1987 - Title I: Review of Intergovernmental Regulations - Requires the President, within 30 days after submitting the annual Federal budget, to submit to the Congress a report specifying and evaluating the economic costs, noneconomic costs, and additional direct costs to State and local governments of complying with intergovernmental regulations during the most recently completed fiscal year, the fiscal year in progress, and the next two fiscal years. Defines an "intergovernmental regulation" as a Federal regulation that requires a State or local government to take certain actions or to comply with certain conditions in order to receive Federal assistance. Specifies the required contents of such report, which include: (1) an estimate of the economic and noneconomic benefits that will be provided to each State government and to all local governments in such State as a result of compliance with each such regulation during each fiscal year; and (2) proposals for legislation and administrative actions to change regulations in order to reduce compliance costs or to achieve a more favorable balance between costs incurred and benefits received. Directs the President to consider the potential for reducing State and local compliance costs by promulgating intergovernmental regulations using means such as performance standards, special provisions for small governments, marketable rights, economic incentives, compliance reforms, and simplified procedures to certify the compliance of Federal assistance recipients with Federal requirements. Authorizes the President to delegate the responsibility of preparing such report to the Director of the Office of Management and Budget or the head of any other Federal agency. Directs the responsible official to prescribe standards to be used by agencies in estimating the compliance costs and benefits of intergovernmental regulations. Directs each agency to furnish such official with the information required in such report for the regulations administered by such agency. Title II: Compensation of State and Local Governments for Additional Direct Costs - Prohibits any Federal agency or U.S. court from requiring State or local governments, in any fiscal year, to comply with any intergovernmental regulation which takes effect on or after enactment of this Act and which is promulgated pursuant to a significant law, unless sufficient funds have been provided to reimburse such governments for the total amount of additional direct costs such governments will incur in complying with such regulation in such fiscal year as estimated by the Congressional Budget Office (CBO). Defines a "significant law" as any Federal law which is likely to result in total additional direct costs to all State and local governments of $25,000,000 or more in a fiscal year or to have exceptional fiscal consequences for a geographic region or a particular level of government. Declares that a Federal agency or U.S. court may require such compliance in any fiscal year in which the Congress passes a joint resolution which waives the requirement for reimbursement of direct costs. Requires the Director of the CBO to transmit to the President and the Congress by September 1 of each year a report specifying an estimate of the total amount of additional direct costs that will be incurred in the upcoming fiscal year and next succeeding fiscal year by State and local governments in complying with each intergovernmental regulation promulgated pursuant to a significant law. Directs the chairmen of the congressional committees having jurisdiction over any significant law under which an intergovernmental regulation is promulgated to propose, to a bill providing funds for each fiscal year in which such regulation will be in effect, an amendment to appropriate funds to reimburse State and local governments for the total amount or applicable percentage of additional direct costs they will incur in complying with such regulation. Sets forth the procedures for reimbursements of such additional direct costs by Federal agencies to States and by the States to local governments. Title III: Miscellaneous - Amends the Congressional Budget Act of 1974 to revise the definition of a "significant bill or resolution" by reducing the annual cost to State or local governments likely to result from such a bill or resolution from $200,000,000 to $100,000,000. (The Act requires the CBO to submit to each congressional committee reporting such a bill or resolution an estimate of the cost which would be incurred by State and local governments in complying with such bill or resolution in the fiscal year in which it is to become effective and in each of the four succeeding fiscal years.)

Bill· SS. 607 (100th)referred

A bill to amend the National Housing Act to limit the fees that may be charged by the Government National Mortgage Association for the guaranty of mortgage-backed securities.

United States · United States Congress · 26 February 1987

Amends the National Housing Act to limit the Government National Mortgage Association mortgage guarantee fee to six basis points. Sets administrative fees at September 1, 1985, levels, except that they may be increased to cover increased administrative costs.

Law· SJRESS.J.Res. 70 (100th)enacted

A joint resolution commemorating the 40th anniversary of the Marshall Plan.

United States · United States Congress · 26 February 1987

Acknowledges the magnanimity of the Marshall plan and the efforts of the Marshall Foundation in Lexington, Virginia, to continue the values for which George C. Marshall stood, and asks all Americans to rededicate themselves to the ideals which George C. Marshall represented. Welcomes the publication on June 5, 1987, of the fourth volume of the official biography of George C. Marshall. Designates the month of June 1987 as George C. Marshall Month.

Bill· SS. 531 (100th)referred

A bill to repeal the sunset provisions in FHA and related laws.

United States · United States Congress · 17 February 1987

Amends the National Housing Act to make authority permanent for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) mortgage co-insurance, including rental rehabilitation and development projects; (5) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (6) mortgage insurance for land development; (7) mortgage insurance for medical and dental group practice facilities; and (8) graduated payment and indexed mortgage insurance. Amends the Housing Act of 1964 to make authority permanent for urban rehabilitation loans. Amends the Housing Act of 1949 to make authority permanent for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; and (2) mutual and self-help housing grants and loans. Amends the National Flood Insurance Act of 1986 to make national flood insurance authority, including emergency implementation provisions, permanent.

Bill· SS. 490 (100th)open

Omnibus Trade Act of 1987

United States · United States Congress · 5 February 1987

Omnibus Trade Act of 1987 - Title I: Authority to Negotiate Trade Agreement - Grants the President, during a specified ten-year period, the authority to enter into multilateral trade agreements to reduce or eliminate trade barriers or distortions whenever the President determines that such barriers to, or distortions of, international trade: (1) unduly burden or restrict U.S. foreign trade or adversely affect the U.S. economy; or (2) are likely to result in such a burden, restriction, or effect. Limits the amount of reduction in duty that such agreements may involve. Authorizes the President, during a specified ten-year period, to enter into bilateral trade agreements with foreign countries providing for the reduction or elimination of trade barriers or distortions. Provides that such a bilateral trade agreement may be entered into only if: (1) the foreign country requested the negotiation of such an agreement; and (2) the President provides 60 days' notice to specified congressional committees and consults with such committees. Requires the President, before entering into negotiation of such a multilateral or bilateral trade agreement, to determine: (1) whether state trading enterprises account for a significant share of the exports of such foreign country or of the goods of such country that are subject to import competition; and (2) whether such state trading enterprises unduly burden or restrict, or adversely affect U.S. foreign trade or the U.S. economy or are likely to result in such a burden, restriction, or effect. Authorizes the President, if a country's state trading enterprises meet such criteria, to enter into a multilateral or bilateral trade agreement with such country only if such agreement provides that the state trading enterprises: (1) will make non-governmental purchases and sales in international trade in accordance with commercial considerations; and (2) will give U.S. businesses adequate opportunity to compete for participation in such purchases and sales. Provides that a multilateral or bilateral trade agreement may be entered into only if the trade agreement: (1) meets at least one of the negotiating objectives described in this Act; (2) provides for the reciprocal exchange of obligations among the signatories to the agreement; (3) provides a reasonable likelihood that the United States can enforce the obligations of such agreement; and (4) complements and reinforces existing agreements with non-signatory countries and existing U.S. agreements on related economic subjects. Requires the President, before entering into such a multilateral or bilateral trade agreement, to consult with specified congressional committees. Requires the U.S. Trade Representative to consult with interested congressional committees on a continuing basis in order to inform the Congress of trade negotiations and the progress in meeting, and obstacles to achieving, U.S. trade negotiating objectives. Provides that a multilateral or bilateral trade agreement entered into under this Act shall enter into force with respect to the United States if: (1) the President has notified the Congress of the intent to enter into such an agreement; (2) after entering into the agreement the President submits the final legal text of the agreement to the Congress together with other specified materials; and (3) the implementing bill is enacted. Authorizes the President to make certain recommendations to the Congress in order to ensure that a foreign country that receives benefits under a trade agreement is subject to obligations under the agreement. Imposes limitations on the use of expedited congressional procedures for the consideration of an implementing bill or approval resolution relating to such trade agreements. Declares that the overall objectives of the United States in international trade negotiations shall be to obtain: (1) more open, fair, and equitable market access; (2) the reduction or elimination of barriers and other trade-distorting practices; (3) an appropriate overall balance between benefits and concessions within the agricultural, manufacturing, mining and service sectors; and (4) improved management of the new global economy. Sets forth the principal objectives in negotiating such agreements. Amends the Trade Act of 1974 to declare that the principal U.S. negotiating objectives under the import relief provisions of such Act shall be to eliminate or reduce foreign barriers to equitable access by U.S. persons to foreign development technology. Requires the United States, in pursuing such objectives, to take into account U.S. policies in licensing or otherwise making available to foreign persons technology and other information developed by U.S. laboratories. Provides termination and reservation authority for trade agreements entered into under this Act. Requires the President to determine, after a specified five-year period, whether any major industrial country has failed to make reciprocal concessions under a trade agreement. Requires the President to recommend certain legislation to the Congress with respect to such a country if the country has failed to make such concessions. Provides that no political party shall dominate the membership of specified trade advisory committees. Requires the President to make the same determinations regarding state trading enterprises before a foreign country accedes to a multinational trade agreement to which the United States is a party that the President is required to make before entering into negotiation of a multilateral or bilateral trade agreement under this Act. Requires the President, if a country's state trading enterprises meet such criteria, to reserve the right of the United States to withhold extension of such agreement between the United States and such country. Provides that, if a country's state trading enterprises meet such criteria such trade agreement shall not apply between the United States and such country until: (1) such country and the United States enter into an agreement providing that the state trading enterprises will make certain purchases and sales in accordance with commercial considerations and will afford U.S. businesses an opportunity to compete for such purchases and sales; or (2) a bill which approves the extension of such agreement between the United States and such foreign country is enacted. Provides for expedited congressional consideration of such an implementing bill. Requires the President to begin bilateral negotiations on an expedited basis with each foreign country which pegs its currency to the U.S. dollar to ensure that such country regularly adjusts the exchange rate between its currency and the dollar to reflect underlying economic fundamentals. Requires the President to submit to the Congress a semi-annual report on such negotiations and developments in the exchange rates. Title II: Enhancing Competitiveness - Subtitle A: Positive Adjustment in Import-Impacted Industries - Amends the Trade Act of 1974 to change the chapter providing for import relief. Provides that a petition for eligibility for import relief for the purpose of facilitating orderly adjustment to import competition may be filed with the International Trade Commission (ITC) by any entity which is representative of an industry. Requires the petition to include a statement describing the specific purposes for which import relief is being sought. Requires the ITC to begin an investigation to determine whether an article is being imported in such increased quantities as to be a substantial cause of serious injury, or threat of serious injury, to a competing domestic industry upon: (1) request of the President or the U.S. Trade Representative (USTR); (2) resolution of specified congressional committees; or (3) filing of a petition. Requires the ITC, in making such determination, to consider all relevant economic factors. Lists certain factors to be considered, including, with respect to serious injury, the inability of a significant number of firms to operate domestic production facilities at a reasonable profit and, with respect to threat of serious injury: (1) export targeting by a foreign government; (2) the existence of affirmative antidumping or countervailing duty determinations relating to a specified country; (3) the extent of the inability of the domestic industry to maintain its research and development expenditures; and (4) the extent to which articles are being diverted to the United States because of export or import restraints in a third country. Sets forth the methods to be used by the ITC to determine the relevant domestic industry, including requiring the ITC to treat as part of an industry only its domestic production even if the industry also imports. Defines "substantial cause" to mean a cause which is important and not less than any other cause. Requires the ITC to: (1) investigate and report on efforts made by firms and workers in the industry to compete more effectively; and (2) investigate any factors which may be contributing to increase imports and, if the ITC has reason to believe that the increased imports are attributable to dumping, to notify the appropriate agency. Declares that imports of competitive articles by domestic producers shall not be considered a factor indicating the absence of serious injury or threat of serious injury to such industry. Requires the ITC to examine factors other than imports which may be a cause of injury or threat of injury to the domestic industry. Requires the ITC to hold public hearings in import relief investigations. Requires the ITC to make a determination within 150 days of the start of an import relief investigation. Prohibits an import relief investigation with respect to a domestic industry which during the preceding ten years was the subject of a previous investigation that resulted in: (1) tariff changes, import quotas, or orderly marketing agreements; or (2) the granting of an antitrust exemption to such domestic industry. Prohibits for one year any import relief investigation, except for good cause, of the same subject matter as a previous investigation that did not succeed in obtaining relief. Requires the President to impose provisional import relief if the President finds that critical circumstances exist. Sets forth limitations on the duration of such relief. Declares that critical circumstances exist if a significant increase in imports over a short period of time has led to circumstances in which a delay in the imposition of relief would cause damage to the domestic industry that would be difficult to remedy under the regular import relief procedure. Permits a petition which alleges import injury to a perishable product to be filed with the Secretary of Agriculture with a request that emergency relief be granted. Sets forth the procedure and timetable for granting such emergency relief. Requires the USTR to establish a plan development group for the domestic industry producing articles like, or directly competitive with, the article that is the subject of the import relief investigation. Requires such group to be established whenever the ITC begins any import relief investigation. Requires each plan development group to consist of officials from various Federal agencies and individuals who are representative of the firms and of the workers in the domestic industry. Requires each plan development group to prepare for the industry concerned as assessment of current problems and a competitive enhancement strategy that sets forth objectives and steps that workers and firms could undertake to: (1) improve the industry's competitiveness; (2) assist the industry to adjust to new methods of competition; (3) lead to a domestic industry that can compete after the expiration of any import relief actions; and (4) adjust to import competition through the orderly transfer of resources to alternative uses. Sets forth information to be included in such assessment and strategy. Requires the report on such assessment and strategy to be submitted to the ITC and to the petitioner, if any, within 120 days after the ITC starts the import relief investigation. Requires a petitioner for import relief to file an adjustment plan with the ITC within seven days (later if authorized by the ITC) of the ITC finding that import relief is warranted. Authorizes any trade association, firm, union, or group of workers that represents a significant portion of the affected domestic industry to file such an adjustment plan with the ITC if the import relief action was not initiated by petition. Requires the ITC to select one plan if more than one adjustment plan is submitted. Requires the adjustment plan to set forth: (1) the specific objectives of the import relief being requested (including the facilitation of orderly transfer of resources to alternative uses or other means of adjusting to competition); (2) a schedule for achieving such objectives; and (3) a description of actions which will be taken to achieve such objectives. Sets forth factors that may be addressed in such adjustment plan. Requires the USTR to present to the ITC and to the President the opinions of the heads of various Federal agencies on the viability of such adjustment plans. Requires the ITC, after an adjustment plan is submitted, to try to obtain, on a confidential basis, commitments from the members of the domestic industry regarding: (1) how such members intend to act upon the objectives and actions set forth in such plan; and (2) any other actions such members intend to take to foster the objectives of the adjustment plan. Requires the ITC to transmit such commitments to specified Federal officials, on a confidential basis. Provides for administration of the plan development groups. Exempts participation in plan development groups from the antitrust laws. Requires the ITC to report to the President on the determination made by the ITC in an import relief investigation. Sets forth information to be included in such report. Requires the ITC, if it determines that import relief is warranted, to: (1) recommend actions which the President is authorized to take that (alone or in combination with other actions) create a reasonable expectation that the domestic industry can compete successfully with imports after the termination of the import relief; or (2) if the ITC finds no such reasonable expectation, recommend actions which the President is authorized to take that are necessary to provide for the orderly transfer of such industry's resources; (3) determine, for purposes of limiting import relief actions, the amount of any change in import restrictions which would prevent or remedy the serious injury or threat of serious injury caused by imports; and (4) include specified information in the report to the President, including a description of the short- and long-term effects of the implementation of the recommendation on other domestic industries and consumers. Limits the extent of the impact of, and the duration of, the import relief recommended by the ITC. Provides for public hearings by the ITC on its recommendations. Requires the ITC to: (1) consider specified factors in making such recommendations; (2) report to the President on import relief determinations within 180 days of the start of the investigation; and (3) furnish additional information to the President upon request. Requires the President, if the ITC makes an affirmative unanimous determination that import relief is warranted, to take, within 30 days of receipt of the ITC report: (1) the actions recommended by the ITC; or (2) other actions which are at least substantially equivalent to the actions recommended by the ITC. Requires the President to submit a draft of a bill waiving the above requirement and containing the actions the President has decided to take if the President decides that: (1) actions other than those recommended by the ITC or their substantial equivalent should be taken; or (2) no action should be taken. Provides for expedited congressional consideration of such bill. Provides for congressional veto (by enactment of a joint resolution of disapproval) of the President's decision to take other action or no action. Requires the President, if the ITC determines in a non-unanimous vote that import relief is warranted, to: (1) take import relief actions that create a reasonable expectation that the domestic industry can compete successfully with imports after the termination of such relief; or (2) take actions to provide for the orderly transfer of the resources of the domestic industry to other productive pursuits if the President does not find such a reasonable expectation. Declares that the President shall not be required to take any import relief action following a non-unanimous import relief determination by the ITC if the President determines that the import relief would be deterimental to national security or would cause serious injury to a domestic industry. Sets forth the timetable for actions by the President in import relief actions. Sets forth the import relief actions the President is authorized to take, including providing trade adjustment assistance and antitrust exemptions, directing the initiation of antidumping and countervailing duty investigations, and entering into multilateral negotiations. Sets forth the criteria for granting antitrust exemptions and initiating antidumping actions. Limits the amount of increase of any duty provided as import relief. Limits the extent of any quantitative restriction on imports that is imposed as import relief. Postpones the implementation of import relief is the President publishes notice of intent to negotiate an orderly marketing agreement. Provides for administration, review, and termination of import relief actions taken by the President. Provides for termination of import relief if the USTR finds that: (1) a domestic industry has failed to implement the recommended objectives and actions specified in the adjustment plan submitted to the ITC or the actions declared in the confidential information submitted in connection with such plan; and (2) such failure is not justified by changed circumstances and has adversely affected overall implementation of the objectives specified in the plan. Limits the duration, with specified exceptions, of import relief actions to: (1) eight years; or (2) the period of time in which the domestic industry can compete successfully without import relief or the period of time in which an orderly transfer of resources can be completed. Provides for one five-year extension of import relief. Provides for reducing import relief every three years if the import relief lasts more than three years. Authorizes the President, if an orderly marketing agreement is negotiated, to suspend or terminate import relief provisions dealing with tariff modifications. Provides for the reduction or termination of import relief actions if: (1) no commitments were made to the ITC by any members of the domestic industry; and (2) the President makes a specified determination relating to achievement of the objectives of the import relief actions. Requires the ITC to evaluate the effectiveness of the import relief actions after holding public hearings and to report to the President and to the Congress on such evaluation. Subtitle B: Trade Competitiveness Assistance - Amends the Trade Act of 1974 to change the eligibility requirements for trade adjustment assistance for workers and firms. Refers to trade adjustment assistance as trade competitiveness assistance. Authorizes the certification of workers and firms as eligible for such assistance if there are increases in imports of articles that are competitive with articles to which the workers (through their firms) or the firms provide essential parts or services. Requires a worker, in order to receive cash assistance, to: (1) be enrolled in a training program approved by the Secretary of Labor; (2) have completed such a program; or (3) have received a written certification from the Secretary or the relevant State or State agency that it is not feasible or appropriate to approve a training program for such worker. Prohibits payment of such assistance to such worker if the worker has failed to begin, or has ceased to participate in, such training program without justifiable cause until the worker begins or resumes participation in such training program. Requires the Secretary to report annually to specified congressional committees on the number of workers who received certifications on the non-feasibility or inappropriateness of job training during the preceding year. Increases the maximum trade readjustment allowance to an amount equal to 78 (currently 52) times the amount of one week's trade readjustment allowance. Provides that such increase shall apply to a worker who receives a certification of non-feasibility of job training. Requires that, if the Secretary approves training for adversely affected workers, the training must be reasonably available. Provides that such training may be paid for directly or through a voucher system. Limits the total amount of payments for training for each adversely affected worker to $4,000. Requires each cooperating State agency (agency which provides trade adjustment assistance services) to advise adversely affected workers of training opportunities as soon as practicable. (Current law requires the agency to provided such advice within 60 days of receiving an application for training.) Terminates on September 30, 1991, trade adjustment assistance programs for workers, technical assistance for firms, and the imposition of import fees to fund such programs. Authorizes appropriations for trade adjustment assistance for workers and for firms through FY 1989. (Current law authorizes such appropriations through FY 1991.) Establishes within the Treasury a Trade Competitiveness Assistance Trust Fund. Provides for its funding. Requires the amounts in the Trust Fund to be used to: (1) pay drawbacks and refunds of the duty imposed on all imports by this Act; and (2) carry out trade adjustment assistance for workers and firms to the extent and in such amounts as provided by appropriations Acts. Prohibits the use of the amounts in the Trust Fund to pay certain loans guaranteed under programs for trade adjustment assistance for firms. Directs the President to undertake negotiations to change the General Agreement on Tariffs and Trade (GATT) to allow countries to impose a small uniform duty on all imports in order to use the revenue from such duty to fund trade adjustment assistance programs. Directs the President to report to the Congress six months after enactment of this Act on the progress of such negotiations. Directs the President to report to the Congress as soon as the GATT allows the imposition of such a duty. Imposes an additional duty on all imports into the United States, including those imports granted duty-free treatment, with specified exceptions. Title III: Unfair International Trade Practices Investigations - Subtitle A: Mandatory Responses to Unfair Distortion of International Trade - Amends the Trade Act of 1974 to require the national trade estimate prepared annually by USTR to include a list of the trade barriers of each foreign country and an estimate of the value of additional U.S. goods and services and the value of additional foreign direct investment by U.S. persons that would have been exported to, or invested in, each foreign country if each of such trade barriers did not exist. Requires the USTR to consider the value of such U.S. exports and investments in determining the trade distorting impact of such trade barriers. Changes the date on which such annual report (to be known as the National Trade Estimate) is due to March 31. Requires the President, if a country is identified in the 1986 National Trade Estimate as a country that has foreign trade barriers and the USTR determines that such country maintains a consistent pattern of barriers and market distorting practices, to initiate negotiations with such country to eliminate such barriers. Requires the USTR to determine, within 30 days of enactment of this Act, with respect to each such country whether such country maintains such a pattern of market barriers. Declares that Japan is such a country. Requires the President to report to the Congress by December 31, 1988, on the effects of any agreements reached by such negotiations. Requires the USTR to initiate investigations with respect to those trade barriers identified in the National Trade Estimate which constitute significant trade barriers or distortions and which are likely to be: (1) unjustifiable; or (2) unjustifiable, unreasonable or discriminatory and restrictive of U.S. commerce and, if eliminated, are likely to result in the greatest expansion of U.S. exports. Exempts the USTR from initiating an investigation under (2) if such an investigation would be detrimental to other efforts to eliminate such barriers. Defines significant barriers to and distortions of trade. Requires the USTR to determine within nine months of the start of an investigation, whether: (1) the United States is being denied any trade rights; or (2) the trade practices being investigated constitute unfair practices. Requires the USTR to provide an opportunity for the presentation of the views of interested parties and to obtain advice from appropriate advisory bodies either before or after making such determination depending upon whether expeditious action is required. Requires the USTR to make the determination more quickly (within six months) if export targeting is alleged. Requires the President to take the actions necessary to enforce U.S. trade rights and to eliminate unfair trade practices if such determination is affirmative. Sets forth the time frame in which such actions must be taken. Authorizes the President to postpone taking such actions if the President makes a specified certification to the Congress. Prohibits the President from granting more than two postponements. Declares that the President is not required to take any actions if: (1) the contracting parties to the General Agreement on Tariffs and Trade (GATT) make a determination that conflicts with the USTR's determination of unfair trade practices; (2) an agreement is entered into between the United States and the foreign country involved and the affected domestic industry or the petitioner agrees that such agreement adequately offsets the unfair trade practices and enforces U.S. trade rights; or (3) the investigation of such trade practices was not initiated by a finding in the National Trade Estate of unjustifiable trade barriers and the President submits a specified certification to the Congress. Terminates any actions taken in response to such investigations after seven years if there is no request for continuation of the action. Provides for formal review, upon request, of the necessity of the continuation of the action request. Requires the USTR to report to the Congress on such review. Authorizes the President to modify or terminate an action taken pursuant to such an investigation if: (1) the contracting parties to the GATT have determined, or a GATT panel of experts has reported, that the action violates U.S. international obligations or that the trade practice to which the action responds is not a violation of, or inconsistent with, a trade agreement or does not impair U.S. benefits under a trade agreement; (2) an offsetting trade agreement has been reached; or (3) the burden on the U.S. economy of the denial of trade rights or of the unfair trade practices has increased. Includes foreign trade practices that threaten to burden or restrict U.S. commerce among the trade practices to which the USTR must respond. Defines "burden on U.S. commerce" to include: (1) foreign trade practices which have an adverse effect on trade between the United States and another foreign country; (2) the subsidization of exports that results in the displacement of U.S. exports to another foreign country; (3) the imposition of import restrictions or export performance requirements that result in the diversion of the exports of another foreign country to U.S. markets; and (4) the enforcement of trade restraining agreements that result in the diversion of the exports of another foreign country to U.S. markets. Requires foreign instrumentalities and territories to be treated as foreign countries. Authorizes the President, in reaction to unfair foreign trade practices, to: (1) enter into agreements that offset or eliminate any burden on U.S. commerce resulting from such practices; or (2) withdraw or refrain from proclaiming benefits under the Generalized System of Preferences for the country involved. Includes within the definition of unreasonable trade practices: (1) export targeting; or (2) a requirement that intellectual property be licensed to the foreign country concerned or to a firm in such country or that technical information be submitted to such country as a condition of importation into such country. Defines "export targeting" to include any government plan consisting of a combination of coordinated actions that are bestowed on a specific enterprise, industry, or group the effect of which is to assist the enterprise, industry, or group to become more competitive in exports. Sets forth actions included within the definition of export targeting. Adds to the definition of service sector access authorization reference to a foreign supplier of goods related to a service. Includes within the definition of "unjustifiable trade practices" trade practices: (1) which enable a state trading enterprise to compete in international trade or make purchases or sales in international trade without depending on commercial considerations; (2) through which a foreign country assists a state trading enterprise in such competition, purchases, or sales; or (3) which fail to afford U.S. firms adequate opportunity, in accordance with customary business practice, to compete for participation in purchases from, or sales to, state trading enterprises. Defines "denial of benefits" under a trade agreement to include foreign trade practices that: (1) nullify, impair, or impede attainment of the objectives of such agreement; (2) constitute an unfair trade concession requirement for any product or service within the purview of such agreement. Defines "unfair trade concessions requirement." Authorizes the President, in order to meet U.S. international obligations, to take actions to compensate foreign governments for actions taken with respect to unfair foreign trade practices. Subtitle B: Improvement in the Enforcement of Antidumping and Countervailing Duties - Amends the Tariff Act of 1930 to require the administering authority, if there is an affirmative finding that countervailing duties are warranted and the petition alleges that a subsidy is inconsistent with the Agreement on Subsidies and Countervailing Measures or if a countervailing duty investigation is commenced and the administering authority has reason to believe that a subsidy is inconsistent with the Agreement, to: (1) notify the Customs Service of such determination and direct customs officers to collect information on imports of the type of merchandise that is the subject of the investigation; (2) order the suspension of liquidation of such imports that are entered, or withdrawn from warehouse, on or after the publication of the notice of such determination; and (3) begin monitoring the volume of such imports to determine whether there has been a surge of such imports since the countervailing duty investigation petition was filed or the investigation commenced. Prohibits a determination of the existence of a surge of imports until 60 days after the petition was filed or the investigation commenced. Terminates the suspension of liquidation if the preliminary determination of the administering authority is that no subsidy is being provided. Requires the administering authority to order the posting of security for unliquidated entries of affected imports if the administering authority makes a preliminary determination that an inconsistent subsidy exists and there has been a surge of such imports. Terminates any suspension of liquidation and requires the release of any security posted with respect to such imports if a countervailing duty investigation is terminated. Provides that the final determination of whether there is a subsidy which is inconsistent with the Agreement and whether there was a surge of imports may be affirmative even if the preliminary determination was negative. Deletes the requirement that the ITC also determine whether there is material injury that will be difficult to repair and whether the material injury resulted from the surge of imports. Terminates the suspension of liquidation of such imports and releases any security posted with respect to such imports if the final determination of the administering authority is that there is no inconsistent subsidy or surge of imports or the final determination of the ITC is that there is no material injury but that there is a threat of material injury or that the establishment of an industry in the United States is materially retarded. Deletes the provision that prohibits any determination as to the presence of critical circumstances with respect to non-duty-free imports. Requires the administering authority, if there is an affirmative finding of the need to impose an antidumping duty or if an antidumping duty investigation is initiated by the administering authority, to: (1) notify the Customs Service of such determination and direct customs officers to collect information on imports of the type of merchandise that is the subject of the investigation; and (2) begin monitoring the volume of such imports to determine whether there has been a surge of such imports since the antidumping petition was filed or the investigation commenced. Prohibits a determination of the existence of a surge of imports until 60 days after the petition was filed or the investigation commenced. Suspends the liquidation of duties on such imports starting 70 days after the antidumping petition is filed or the investigation is commenced. Terminates such suspension of duties if the preliminary determination is that the imports are being sold or are likely to be sold at less than fair market value (are being dumped). Requires the administering authority to order the posting of security for unliquidated entries of affected imports if the administering authority makes a preliminary determination that goods are being dumped. Terminates the suspension of liquidation and requires the release of any security posted with respect to such imports if an antidumping duty investigation is terminated. Provides that the final determination of dumping may be affirmative even if the preliminary determination was negative. Deletes the provision that required the final determination of the ITC to include a finding as to whether a retroactive duty should be imposed on dumped imports. Requires the administering authority, if it determines that merchandise is imported into the U.S. customs territory by, or for, a manufacturer, producer, seller, or exporter for the purpose of absorbing antidumping duties on behalf of a U.S. purchaser, to declare the importation a sham transaction and direct customs officers to treat the U.S. purchaser as the importer solely liable for such duties. Sets forth factors to consider in determining whether a transaction is a sham transaction. Prohibits the ITC from determining that there is no material injury or threat of material injury to U.S. producers of fungible products by reason of imports of such products solely on the basis of evidence that: (1) sales of such imports were not the first sales or offers at a reduced price in the relevant market; (2) similar price declines occurred in comparable markets; (3) U.S. producers also import such products; or (4) U.S. producers of the products are profitable. Requires the administering authority to investigate whether diversionary input dumping is occurring whenever: (1) the administering authority has reasonable grounds to suspect that such dumping is occurring; (2) a specified type of material or component is routinely used as a major material or component in manufacturing or producing the merchandise under investigation; and (3) generally accepted trade statistics indicate that, after the issuance of an antidumping duty order or the entry into force of an international agreement relating to the importation into the United States of such material or component, the quantity or market share of shipments to the United States of such material or component has decreased or the rate of increase of such shipments has decreased and shipments to the United States of the merchandise under investigation have increased. Sets forth the timetable for preliminary and final determinations by the administering authority as to the existence of diversionary input dumping. Provides that the foreign market value of merchandise that constitutes diversionary input dumping shall be the constructed value of the merchandise. Provides for increasing the cost of the material or component that is found to be involved in diversionary input dumping. Requires the administering authority, if the merchandise involved in a dumping investigation is exported from a nonmarket economy country and it is not possible to accurately determine the foreign market value of such merchandise from the information submitted by such country, to determine the foreign market value on the basis of the trade-weighted average price at which comparable merchandise is sold by a specified eligible market economy country. Provides for determining such foreign market value when there is no eligible market economy producer. Provides a special rule for imports of fungible products. Defines "nonmarket economy country" and "eligible market economy country." Authorizes the administering authority to suspend an antidumping investigation involving a nonmarket economy country if specified conditions are met. Requires the Commissioner of Customs and the ITC to provide the administering authority, upon request, with a copy of all public and proprietary information that they possess that is relevant to dumping proceedings involving merchandise from such countries. Authorizes a domestic producer of an article that is like a component part or a downstream product to petition the administering authority to designate a downstream product for monitoring by the ITC. Sets forth information to be included in the petition. Requires the administering authority to determine whether there is a reasonable likelihood that imports of the downstream product will increase as an indirect result of any diversion with respect to component parts. Sets forth factors the administering authority may take into account in making such determination. Requires the ITC to make quarterly reports to the administering authority regarding the ITC monitoring of a downstream product. Requires the administering authority to review the reports of the ITC and: (1) consider such information in determining whether to initiate an antidumping or countervailing duty investigation regarding a downstream product; and (2) request the ITC to cease its monitoring if the information indicates that imports are not increasing and there is no reasonable likelihood of diversion with respect to component parts. Title IV: Intellectual Property Rights - Subtitle A: Intellectual Property Remedies - Makes unlawful (and therefore subject to remedies for unfair trade practices) the importation or sale within the United States, if a related industry exists in the United States or is being established, of articles that: (1) infringe a U.S. patent or copyright or are produced by a process covered by a U.S. patent; or (2) infringe a trademark. Makes it unlawful to import a semiconductor chip product in a manner that constitutes infringement of a registered mask work. Sets forth the manner of determining whether a U.S. industry exists. Authorizes the ITC to terminate an investigation into unfair practices in the import trade by issuing a consent order or on the basis of a settlement agreement. Authorizes a complainant to petition the ITC to issue an order for the exclusion of certain articles during an investigation into unfair practices in the import trade. Sets forth the timetable for action by the ITC. Authorizes the ITC to grant preliminary relief with respect to violations involving intellectual property. Provides that the ITC may issue cease and desist orders in addition to or in lieu of exclusionary orders. Increases the penalty for violations of such orders. Requires the ITC to presume the facts alleged in the complaint are true and to issue, upon request, an exclusion from entry or a cease and desist order or both under certain circumstances. Authorizes the ITC to prescribe sanctions for abuse of discovery and abuse of process. Authorizes the ITC to order the forfeiture of an article imported in violation of the import trade unfair practices section if: (1) the importer had previously attempted to import the article; (2) the article was previously denied entry into the United States; and (3) upon such previous denial of entry the Secretary of the Treasury had provided the importer with a specified written notice. Provides that a person who has been previously found to be in violation of the provisions relating to unfair import practices may petition the ITC for a finding that such person is no longer in violation of such provisions or for a modification or rescission of an exclusion. Excludes intellectual property imported by or for the United States from certain exclusion orders. Provides for the protection of the confidentiality of information submitted to the ITC or exchanged among the parties in cases involving unfair import practices. Subtitle B: Access to Technology - Requires the USTR in conjunction with the National Science Foundation to: (1) monitor the transfer of technology between the United States and foreign countries; and (2) report annually to specified congressional committees on such transfers. Requires the Secretary of Commerce (Secretary) to designate a Foreign Commercial Service Officer in a foreign country to monitor and report on the status of the intellectual property system in such country. Amends the Foreign Assistance Act of 1961 to authorize the President to furnish assistance for programs to aid less developed countries in developing and implementing adequate intellectual property laws and in developing their own indigenous technology. Requires the Secretary to identify the technical assistance needs of such countries. Requires the Secretary to establish the United States Intellectual Property Training Institute to train individuals of developing countries in both management and technical skills regarding the protection of intellectual property. Provides for financing the Institute. Title V: National Security - Amends the Trade Expansion Act of 1962 to grant the Secretary of Commerce (the Secretary) the responsibility for investigating, upon request, the effects of imports on national security. Requires the Secretary to report to the President on such investigation within six months of receiving the request that starts the investigation. Requires the Secretary to notify the Secretary of Defense concerning any such investigation. Requires the Secretary of Defense to conduct a separate defense needs assessment of the article affected by such imports. Requires the Secretary of Defense to report to the Secretary on such assessment within three months. Requires the Secretary's report to the President on such investigation to include a statement by the Secretary of Defense concurring or disagreeing with the Secretary's findings and explaining such concurrence or disagreement. Requires any portion of such report to be published if it is not: (1) classified as being clearly detrimental to the national security; and (2) proprietary information. Requires the President to : (1) decide whether or not to take action based on such report within 90 days of receiving it; and (2) explain the decision. Title VI: Formulation of United States Trade Policy - Requires the head of each Federal agency, before taking any major action that may affect international trade, to study, and publish a report on, the potential impact such action will have on U.S. international trade and on the international competitiveness of U.S. firms. Exempts emergency actions and certain other actions from such reporting requirement. Requires the head of each Federal agency to include such report with any proposed legislation made to the Congress. Amends the Trade Expansion Act of 1962 to establish in the Executive Office of the President the National Trade Council, which shall: (1) advise the President on the coordination of national and international policies relating to trade; (2) assess U.S. international trade policies and objectives; (3) consider policies on matters of common interest to Federal agencies concerned with international trade; (4) consider the relationship between the U.S. standard of living and U.S. trade policies; and (5) evaluate the effects of U.S. trade policies and objectives on the national security. Provides for consultations between members of the Council and representatives of the private sector. Requires the Council to report to the President as appropriate or upon request of the President. Terminates the Trade Policy Committee. Establishes the National Trade Data Committee to: (1) establish and maintain a National Trade Data Bank; (2) analyze information in the National Trade Data Bank; (3) disseminate such information to export businesses in a timely manner; and (4) coordinate the gathering and dissemination of commercial information relating to international trade by the Federal Government. Sets forth information to be included in the National Trade Data Bank. Requires each Federal agency to cooperate in providing information for assimilation into the National Trade Data Bank. Requires the Committee to report annually to the Congress: (1) assessing the current quality, comprehensiveness, and accessibility of trade data; (2) describing actions that have been taken and that are planned to be taken pursuant to this Act; (3) recommending actions which would ensure that U.S. citizens and firms obtain access to foreign data banks that is similar to the access provided foreign citizens and firms to the National Trade Data Bank; and (4) recommending other legislative actions. Exempts from the Paperwork Reduction Act of 1980 certain actions taken to carry out this Act. Title VII: Agriculture - Declares that it is U.S. policy to increase agricultural exports, to recapture the U.S. market share in agricultural trade, and to support programs to make U.S. exports more competitive abroad. Sets forth other policy objectives relating to agriculture. Authorizes the Secretary of Agriculture to make available certain commodities to cooperator organizations which shall use the commodities to establish demonstration projects designed to expand markets for U.S. agricultural commodities and products. Requires that there be at least 850 full-time employees during each of FY 1987, 1988, and 1989 in the Foreign Agricultural Service of the Department of Agriculture. Expresses the sense of the Congress that such a number of employees should make it possible for the Service to devote greater resources to developing markets for U.S. agricultural commodities and products. Requires an agricultural attache who is reassigned from abroad to counsel agricultural producers on means of increasing exports and agricultural market development and promotional activities. Requires at least 60 percent of the personnel resource time of agricultural attaches who are stationed abroad to be devoted to market development and promotional activities for U.S. agricultural commodities. Authorizes the Secretary to contract with an individual for services to be performed outside the United States as necessary in order to carry out market development activities for U.S. agricultural commodites. Establishes within the Service an Office of International Market Development and Export Promotion to coordinate all market development, promotional, export enhancement, export credit, and targeted export assistance programs. Requires the Office to report annually to specified congressional committees on the market development programs. Establishes within the Office a unit to monitor the quality of agricultural exports. Requires the unit to: (1) act as liaison with the Federal Grain Inspection Service, private U.S. exporters, foreign governments, and U.S. agricultural attaches overseas; (2) receive and respond to complaints about the quality of U.S. agricultural exports; and (3) identify problems in foreign markets concerning the quality of U.S. commodities and ensure that notice of such problems is provided to the relevant entities for quick response and follow-up. Establishes within the Office a unit to evaluate the overall effectiveness of the market development and promotional programs of the Service. Requires the unit to report annually to specified congressional committees on such programs. Earmarks at least 50 percent of the FY 1987 increase in funding of the Service to be used to create new markets for U.S. agricultural commodities in developing markets. Authorizes appropriations for FY 1987 for trade shows and exhibitions conducted by the Service. Sets forth the ways the increase in funding for trade shows shall be used. Authorizes appropriations for FY 1987 for program management and support activities of the Service and for its market promotion and trade development activities. Requires some of the increased funding to be used to provide adequate staff for: (1) the development of markets for high value-added products; and (2) the improvement of the quality of agricultural exports. Establishes within the Department of Agriculture an Export Market Development Advisory Committee to: (1) review all U.S. agricultural market development and export enhancement programs; and (2) make recommendations for the improvement of such programs.

Resolution· SCONRESS.Con.Res. 15 (100th)referred

A concurrent resolution expressing the sense of the Congress that no major change in the payment methodology for physicians' services, including services furnished to hospital inpatients, under the Medicare Program should be made until reports required by the 99th Congress have been received and evaluated.

United States · United States Congress · 5 February 1987

Expresses the sense of the Congress that: (1) no Medicare (title XVIII of the Social Security Act) physician payment methodology should be implemented which is based on hospital discharge classifications or requires mandatory assignment; and (2) no drastic change in the Medicare physician payment methodology should be undertaken without the receipt of reports required by legislation enacted in the 99th Congress and a detailed analysis of the long-range impact of such change on the provision of health care.