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United States · Official source
2,344 records where Sen. Gramm, Phil [R-TX] is listed as a sponsor, author, or other actor. Search with topics and years
United States · United States Congress · 8 May 1997
Alternative Minimum Tax Reform Act of 1997 - Amends the Internal Revenue Code to provide, with respect to the method of depreciation used for businesses to determine the alternative minimum tax, for the use of the regularly used method of depreciation. Revises the method for recovering long-term unused credits against such tax.
United States · United States Congress · 1 May 1997
Authorizes the President to present, on behalf of the Congress, a gold medal to Mother Teresa of Calcutta in recognition of her contributions to humanitarian and charitable activities. Instructs the Secretary of the Treasury to strike a suitable gold medal. Authorizes the Secretary to strike and sell bronze duplicates. Declares these medals to be national medals. Authorizes appropriations. Mandates deposit of sale proceeds in the Numismatic Public Enterprise Fund.
United States · United States Congress · 28 April 1997
Designates May 15, 1997, as National Peace Officers Memorial Day.
United States · United States Congress · 24 April 1997
Designates April 30, 1997, as National Erase the Hate and Eliminate Racism Day.
United States · United States Congress · 22 April 1997
Designates the U.S. courthouse to be constructed at the corner of 7th Street and East Jackson Street in Brownsville, Texas, as the Reynaldo G. Garza United States Courthouse.
United States · United States Congress · 22 April 1997
Public Utility Holding Company Act of 1997 - Repeals the Public Utility Holding Company Act of 1935. Prescribes procedural guidelines for both Federal Energy Regulatory Commission (FERC) and State access to records of a holding company (including subsidiaries, associates and affiliates) of a public utility or natural gas company. Instructs FERC to promulgate a final rule to exempt specified holding companies from such access requirements. Requires FERC to exempt any person or transaction from such access requirements if it finds that regulation of such person or transaction is irrelevant to the jurisdictional rates of a public utility company. Retains the jurisdiction of FERC and State commissions to determine whether a public utility company may recover in rates any costs of affiliate transactions. Declares this Act inapplicable to: (1) the United States; (2) a State or its political subdivision; and (3) a foreign governmental authority not operating in the United States. Grants FERC certain Federal Power Act enforcement powers. Transfers from the Securities and Exchange Commission to FERC all books and records that relate primarily to the functions vested in FERC by this Act. Authorizes appropriations. Amends the Federal Power Act to repeal its conflict of jurisdiction guidelines.
United States · United States Congress · 16 April 1997
Congratulates the residents of Jerusalem and the people of Israel on the 30th anniversary of the reunification of that city. Calls upon the President and the Secretary of State to publicly affirm as a matter of U.S. policy that Jerusalem must remain the undivided capital of Israel. Urges U.S. officials to refrain from any actions that contradict U.S. law on this subject.
United States · United States Congress · 15 April 1997
Taxpayer Debt Buy-Down Act - Amends the Internal Revenue Code to allow individuals with adjusted income tax liability to designate on their tax returns that a portion of such liability (not to exceed ten percent) be used to reduce the public debt. Establishes a Public Debt Reduction Trust Fund for the deposit of designated amounts. Makes amounts in such Trust Fund available only to pay at maturity, or to redeem or buy before maturity, any obligation of the Federal Government included in the public debt (other than an obligation of the Federal Old-Age and Survivors Insurance Trust Fund, the Civil Service Retirement and Disability Fund, or the Department of Defense Military Retirement Fund). Prohibits the reissuance of any obligation which is paid, redeemed, or bought with amounts from the Trust Fund. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to provide for the sequestration of amounts designated to the Trust Fund. Specifies accounts exempt from such sequestration. Includes aggregated amounts designated to the Trust Fund and amounts sequestered to reduce the public debt in sequestration preview and final reports.
United States · United States Congress · 9 April 1997
Volunteer Protection Act of 1997 - States that this Act preempts inconsistent State law except when such law provides additional protection from liability relating to volunteers, nonprofit organizations, or governmental entities. Exempts a volunteer of a nonprofit organization or governmental entity from liability for harm caused by an act or omission of the volunteer on behalf of such organization or entity if: (1) the volunteer was acting within the scope of his or her responsibilities at the time; (2) if appropriate or required, the volunteer was properly licensed or otherwise authorized for the activities or practice in the State in which the harm occurred; and (3) the harm was not caused by willful or criminal misconduct, gross negligence, reckless misconduct, or a conscious, flagrant indifference to the rights or safety of the individual harmed. Prohibits the award of punitive damages against a volunteer, organization, or entity unless the claimant establishes by clear and convincing evidence that the harm was proximately caused by an action of such volunteer which constitutes willful or criminal misconduct or a conscious, flagrant indifference to the rights or safety of the individual harmed. Provides exceptions. Makes each volunteer, organization, or entity liable for noneconomic loss only in the amount allocated to such defendant in direct proportion to the percentage of responsibility for the harm for which the defendant is liable. Requires the trier of fact to determine such percentage of responsibility.
United States · United States Congress · 9 April 1997
Volunteer Protection Act of 1997 - States that this Act preempts inconsistent State law except when such law provides additional protection from liability relating to volunteers, nonprofit organizations, or governmental entities. Exempts a volunteer of a nonprofit organization or governmental entity from liability for harm caused by an act or omission of the volunteer on behalf of such organization or entity if: (1) the volunteer was acting within the scope of his or her responsibilities at the time; (2) if appropriate or required, the volunteer was properly licensed or otherwise authorized for the activities or practice in the State in which the harm occurred; and (3) the harm was not caused by willful or criminal misconduct, gross negligence, reckless misconduct, or a conscious, flagrant indifference to the rights or safety of the individual harmed. Prohibits the award of punitive damages against a volunteer, organization, or entity unless the claimant establishes by clear and convincing evidence that the harm was proximately caused by an action of such volunteer which constitutes willful or criminal misconduct or a conscious, flagrant indifference to the rights or safety of the individual harmed. Provides exceptions. Makes each volunteer, organization, or entity liable for noneconomic loss only in the amount allocated to such defendant in direct proportion to the percentage of responsibility for the harm for which the defendant is liable. Requires the trier of fact to determine such percentage of responsibility.
United States · United States Congress · 8 April 1997
Taxpayer Privacy Protection Act - Amends the Internal Revenue Code to permit civil damages and criminal penalties for the unauthorized or unlawful accessing or disclosure (currently, only for the unauthorized or unlawful disclosure) of tax returns or return information. Requires immediate notification to a taxpayer upon discovery that the taxpayer's return or return information has been accessed in an unauthorized manner.
United States · United States Congress · 20 March 1997
National Right to Work Act of 1997 - Amends the National Labor Relations Act and the Railway Labor Act to repeal those provisions that permit employers, pursuant to a collective bargaining agreement (union security agreement), to require employees to join a union as a condition of employment (including provisions permitting railroad carriers to require, pursuant to such an agreement, payroll deduction of union dues or fees as a condition of employment).
United States · United States Congress · 18 March 1997
Home-Based Business Fairness Act of 1997 - Amends the Internal Revenue Code to increase the deduction allowed for the health insurance costs of a self-employed individual to allow as a deduction an amount equal to the amount paid by such individual for insurance which constitutes medical care for such individual, such individual's spouse, and dependents. Adds to provisions defining the disallowance of certain expenses in connection the business use of the home to provide that a home office shall in any case qualify as the principal place of business if the office is: (1) in the location where the taxpayer's essential administrative or management activities are conducted on a regular and systematic basis; and (2) necessary because the taxpayer has no other location for the performance of the essential management or administrative activities of the business. Considers a service provider as not being an employee if the provider: (1) can realize a profit or loss, can incur unreimbursed expenses, and makes a time-limited or task-limited agreement; (2) has a principal place of business, does not primarily provide service at a single service recipient's facilities, pays fair rent for the use of the recipient's facilities, or operates primarily with equipment not supplied by the recipient; and (3) if there is a written contract providing that the provider will not be treated as an employee for Federal tax purposes. Considers (in addition) a provider as not an employee if: (1) there is such a written contract; and (2) the provider is a corporation or limited liability company and does not receive benefits that the recipient's employees receive. Regulates the treatment of determinations by the Secretary of the Treasury that a service provider should have been treated as an employee.
United States · United States Congress · 10 March 1997
Amends the Food Stamp Act of 1977 to require States to verify that prisoners are not receiving food stamps.
United States · United States Congress · 6 March 1997
Amends the Investment Advisers Supervision Coordination Act to postpone its effective date from (the current) 180 days to 270 days after its date of enactment.
United States · United States Congress · 5 March 1997
Provides for a specified increase in Federal judicial salaries. Amends the Federal judicial code to: (1) provide for annual judicial cost-of-living adjustments; and (2) base such adjustments upon the Federal General Schedule. Amends Federal law to repeal the requirement that the Congress must vote for judicial cost-of-living adjustments.
United States · United States Congress · 3 March 1997
Software Export Equity Act - Amends the Internal Revenue Code to qualify software, whether or not patented, for Foreign Sales Corporation treatment.
United States · United States Congress · 26 February 1997
Internal Revenue Service Accountability Act - Amends the Internal Revenue Code to mandate a fine or imprisonment for any U.S. officer or employee who willfully and maliciously disregards any revenue law or related regulation relating to any proceeding against a taxpayer. Allows, if litigation costs are awarded, a portion of the costs to be assessed against any current or former Internal Revenue Service officer or employee (prohibiting Government reimbursement) if the proceeding resulted from any arbitrary, capricious, or malicious act of the officer or employee. Allows Government defense of the officer or employee, but makes the officer or employee liable for defense costs if the employee is found liable for litigation costs. Imposes similar liabilities regarding civil damages for a failure to release a lien or for certain unauthorized collection actions. Amends provisions allowing civil damages for disclosure of returns and return information to allow the damages for access as well as disclosure and apply the provisions to former as well as current officers and employees. Provides for dismissal from office or discharge from employment, a fine or imprisonment, and costs of prosecution for unauthorized access. Prohibits unauthorized access and, on discovery of unauthorized access, requires immediate taxpayer notification. Requires reasonable justification (not random selection) for examining a return. Prohibits, except on court approval, a second examination of a return or extending an examination back beyond three taxable years. Extends from 21 to 90 calendar days after notice and demand the deadline to pay a tax required to be shown on certain returns but not shown. Allows a district court to rule on a decision by the Secretary of the Treasury to not acquiesce regarding conclusions of law in identical, similar, or previously-decided cases. Requires court consent for a levy to collect a tax. Prohibits interest on assessable penalties, additional amounts, or additions to tax. Sets the interest rate for overpayments and underpayments (the same rate for both). Modifies requirements regarding abatement of interest, penalties, additional amounts, or additions to tax attributable to a mathematical or clerical error.
United States · United States Congress · 25 February 1997
Amends the Internal Revenue Code to make permanent the tax credit for research activities.
United States · United States Congress · 13 February 1997
ISTEA Integrity Restoration Act - Authorizes appropriations out of the Highway Trust Fund (other than the Mass Transit Account) for the: (1) National Highway System (NHS); (2) Surface Transportation Program (STP); and (3) Federal Lands Highway Program, including Indian reservation roads, public lands highways, and parkways and park highways. (Sec. 4) Defines "highway funds" as funds apportioned and allocations authorized under this Act for the fiscal year and funds allocated to a State for the preceding fiscal year for Federal-aid highways and highway safety construction. Revises the apportionment of NHS funds to allocate one third of one percent (previously, one percent) to U.S. territories and possessions, and the remaining 99 and two-thirds percent among the States according to a formula based on population density. Includes bridge construction and related activities among eligible NHS projects. (Sec. 5) Repeals provisions regarding: (1) apportionments for resurfacing, restoring, rehabilitating, and reconstructing the Interstate System (IS); and (2) the transfer of interstate construction apportionments, the transfer of funds for STP projects, and limits on new capacity. (Sec. 6) Includes bridge construction and related activities as an eligible activity within the streamlined STP. Makes eligible under the STP an area of a State that is a nonattainment area for ozone or carbon monoxide, or for particulate matter with an aerodynamic diameter smaller than or equal to ten micrometers resulting from transportation activities, or for any combination thereof, for congestion mitigation and air quality improvement projects without regard to any Department of Transportation limitation relating to the type of ambient air quality standard addressed by such project. Requires a State, for each fiscal year, to allocate an amount determined according to a specified formula (based on FY 1995 funds) for transportation enhancement activities. Revises State certification procedures. (Sec. 7) Directs that, for purposes of STP and IS provisions, population shall be determined based on the most recent estimate prepared by the Secretary of Commerce, while apportionment factors shall be determined on the basis of the most recent data certified by the Secretary. (Sec. 8) Repeals provisions regarding: (1) the highway bridge replacement and rehabilitation program; and (2) the congestion mitigation and air quality improvement program. (Sec. 10) Replaces provisions regarding minimum allocations to States with an apportionment adjustment program under which the Secretary shall apportion among the States amounts sufficient to ensure that the ratio of the highway funds of a State to highway funds of all States for the fiscal year is not less than the adjustment percentage specified for that State under this Act. Requires each State to receive additional apportionments so that its percentage of highway funds is not less than 95 percent of the percentage of estimated tax payments attributable to highway users in the State paid into the Highway Trust Fund. Repeals: (1) existing apportionment adjustment programs; and (2) set-asides for interstate discretionary projects. (Sec. 12) Reduces from 3.75 to 2.0 the percentage of program funds authorized to be set aside for administrative costs. (Sec. 13) Sets forth provisions regarding permissible transfers of unobligated balances of funds apportioned to a State for: (1) congestion mitigation and air quality improvement; (2) interstate construction and maintenance; (3) bridge replacement and rehabilitation; and (4) the STP.
United States · United States Congress · 12 February 1997
Constitutional Amendment - Prohibits the election of any person to a full term as a Senator more than twice or to a full term as a Representative more than three times. Bars any person who has been: (1) a Senator for more than three years of a term to which another person was elected from being subsequently elected more than once; and (2) a Representative for more than a year of a term to which another person was elected from being subsequently elected more than twice.
United States · United States Congress · 11 February 1997
TABLE OF CONTENTS: Title I: Creation and Control of Financial Services Holding Companies Title II: Supervisory Improvements Depository Institution Affiliation Act - Title I: Creation and Control of Financial Services Holding Companies - Sets forth the terms and conditions under which a financial services holding company (FSHC) can be established and must be operated. (Sec. 101) Requires any FSHC seeking to acquire control of an insured bank, an insured institution, a bank holding company, a savings and loan holding company, or another financial services holding company to comply with certain requirements of the Federal Deposit Insurance Act. Establishes penalties and additional procedures for failing to comply with such requirements. Permits the appropriate Federal regulatory agency (the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Board of Directors of the Federal Deposit Insurance Corporation, or the Federal Home Loan Bank Board) to adopt rules and regulations to prevent an insured depository institution that is controlled by an FSHC from engaging in unsafe or unsound practices. Subjects FSHCs to the same restrictions on affiliate transactions that are imposed upon member banks (banks which are members of a Federal Reserve bank) under the Federal Reserve Act. Establishes additional restrictions on inter-affiliate transactions, including prohibiting an insured bank or institution that is an affiliate of a FSHC from: (1) extending credit to a securities affiliate or subsidiary; (2) purchasing for its own account the assets of a securities affiliate or subsidiary; or (3) extending credit to an issuer of securities underwritten by a securities affiliate for the purpose of paying the principal of those securities or interest for dividends on those securities. Mandates that each insured depository institution that is controlled by an FHSC be well capitalized. Requires any FSHC which is in control of an insured depository institution found to be undercapitalized to: (1) enter into an agreement with the appropriate Federal regulatory agency to return the institution to being well capitalized; or (2) divest control of such bank or institution. Prohibits Federal regulatory agencies from imposing requirements pertaining to the capitalization of an FSHC. Subjects interstate acquisitions: (1) of an insured bank by an FSHC to the same restrictions as are applicable to bank holding companies under the Bank Holding Company Act of 1956; and (2) of savings associations by an FSHC to the same restrictions as are applicable to savings and loan companies. Prohibits Federal and State governments from enacting laws that discriminate against FSHCs or their affiliates. Preempts any Federal or State provision that is inconsistent with the purposes of this Act. Prohibits insured banks and institutions that are associated with an FSHC from: (1) dealing in or underwriting securities; (2) underwriting insurance; or (3) investing in or developing real estate. Provides certain limitations on FSHC entry into the businesses of insurance agency and real estate brokerage. Subjects FSHCs to the tying provisions of the Bank Holding Company Act Amendments of 1970 and to the insider lending prohibitions of the Federal Reserve Act. (Sec. 102) Makes conforming amendments to the Bank Holding Company Act of 1956. (Sec. 103) Amends the Federal Reserve Act to provide that, for the purpose of restricting loans or extending credit to affiliates, a loan or extension of credit shall not be deemed to be made to an affiliate if: (1) the approval of such loan or extension of credit was in accordance with the same standards and procedures and on substantially the same terms that apply to similar loans or extensions of credit; and (2) such loan or extension of credit was not made for the purpose of evading any requirement of such Act. (Sec. 104) Amends the Banking Act of 1933 to make certain provisions inapplicable to member banks which are controlled by FSHCs. (Sec. 105) Makes conforming amendments to the Federal Deposit Insurance Act. (Sec. 106) Amends the Securities Exchange Act of 1934 to provide for the registration and regulation of broker dealers. (Sec. 107) Makes conforming amendments to the Home Owners' Loan Act and the Community Reinvestment Act of 1977. Title II: Supervisory Improvements - Establishes a National Financial Services Oversight Committee to establish uniform principles and standards for the examination and supervision of financial institutions and other providers of financial services and to recommend additional measures to the Congress to strengthen the separation of insured banks and institutions controlled by FSHCs from the activities of their affiliates.
United States · United States Congress · 11 February 1997
Expresses the sense of the Senate concerning actions that the President should take to resolve the labor dispute between the Allied Pilots Association and AMR, the parent company of American Airlines. Declares that the President should: (1) work with the National Mediation Board to help resolve such dispute; (2) encourage settling the issues in such dispute through use of Board services before the strike deadline, or achieving, by such deadline, the parties' agreement to arbitrate the issues through the Board; and (3) if necessary, establish an emergency board, under specified provisions of the Railway Labor Act, to investigate and report on matters relating to such dispute.
United States · United States Congress · 10 February 1997
Officer Brian Gibson District of Columbia Police Protection Act - Amends the Federal criminal code to establish penalties, including the death penalty, for the killing or attempted killing of a law enforcement officer of the District of Columbia. Includes among aggravating circumstances for imposition of the death penalty that the defendant committed the offense against the officer: (1) while the officer was engaged in the performance of official duties; (2) because of the officer's performance of official duties; or (3) because of such officer's status as a public servant.
United States · United States Congress · 10 February 1997
Teamwork for Employees and Managers Act of 1997 - Amends the National Labor Relations Act to declare that, where no labor organization is the representative of an employer's employees, it shall not be an unfair labor practice for the employer to establish, assist, maintain, or participate in an organization or entity: (1) in which employees participate to at least the same extent as management representatives to address matters of mutual interest (including issues of quality, productivity, and efficiency); and (2) which cannot negotiate, enter into, or amend collective bargaining agreements.
United States · United States Congress · 5 February 1997
Military Voting Rights Act of 1997 - Amends the Soldiers' and Sailors' Civil Relief Act of 1940 to require that a person who is absent from a State in compliance with military or naval orders shall not, solely by reason of that absence, for purposes of voting for an office of the United States or of a State, be deemed to have: (1) lost a residence or domicile in that State; (2) acquired a residence or domicile in any other State; or (3) become resident in or a resident of any other State. Amends the Uniformed and Overseas Absentee Voting Act to require States, with respect to elections for State and local offices, to permit absentee voting by uniformed services members.
United States · United States Congress · 4 February 1997
Expresses the condolences of the Senate on the death of the Honorable Frank Tejeda, a Representative from the State of Texas.
United States · United States Congress · 22 January 1997
TABLE OF CONTENTS: Title I: Retirement Savings Incentives Subtitle A: Restoration of IRA Deduction Subtitle B: Nondeductible Tax-Free IRAs Title II: Penalty-Free Distributions Savings and Investment Incentive Act of 1997 - Title I: Retirement Savings Incentives - Subtitle A: Restoration of IRA Deduction - Amends the Internal Revenue Code, with respect to the Individual Retirement Deduction (IRA), to increase the income limits applicable to active participants. Removes limitations on a spouse's participation. (Sec. 102) Provides an inflation adjustment for the deductible amount. (Sec. 103) Revises provisions concerning the allowance of certain coins and bullion as IRA investments. Subtitle B: Nondeductible Tax-Free IRAs - Permits individuals to establish IRA Plus accounts which shall be treated similarly to an IRA plan. Prohibits deductions for contributions to such accounts. Sets forth distribution rules (including excluding qualified distributions from gross income). Title II: Penalty-Free Distributions - Permits distributions without penalty for qualified: (1) first home purchases; (2) higher education expenses; (3) unemployed individuals; and (4) medical expenses of specified relatives.
United States · United States Congress · 22 January 1997
Family Farm Alternative Minimum Tax Relief Act of 1997 - Amends the Internal Revenue Code to make the alternative minimum tax inapplicable to specified farm property installment sales.
United States · United States Congress · 21 January 1997
Family Friendly Workplace Act - Amends the Fair Labor Standards Act of 1938 to provide for: (1) time-and-a-half compensatory time off; (2) biweekly work programs (allowing more than 40 hours of work in one week and correspondingly less in the other); and (3) flexible credit hour programs (thus providing private sector employees opportunities under such programs similar to those of Federal employees). Amends the exemption from minimum wage and maximum hour requirements for certain executive, administrative, and professional employees and outside salesmen. Prohibits from consideration in determining whether an employee is exempt: (1) the fact that the employee is subject to deductions in compensation for absences from employment of less than a full workday or less than a full pay period; or (2) the payment of overtime compensation or other additions to the compensation of an employee employed on a salary based on hours worked. Allows consideration, in such a determination, of an actual reduction in compensation.
United States · United States Congress · 21 January 1997
Employee Educational Assistance Act - Amends the Internal Revenue Code to: (1) permanently extend the exclusion from gross income of employer-provided educational assistance; and (2) restore the exclusion for such assistance on the graduate level.
United States · United States Congress · 21 January 1997
Family Heritage Preservation Act - Amends the Internal Revenue Code to repeal the estate tax, gift tax, and tax on generation-skipping transfers.
United States · United States Congress · 21 January 1997
Partial-Birth Abortion Ban Act of 1997 - Amends the Federal criminal code to prohibit performing a partial birth abortion in or affecting interstate or foreign commerce, unless it is necessary to save the life of the mother and no other medical procedure would suffice. Defines "partial-birth abortion" as an abortion in which the person performing the procedure partially vaginally delivers a living fetus before killing the infant and completing the delivery. Prescribes penalties. Authorizes the father and, if the mother is under 18 years of age, the maternal grandparents of the fetus to obtain specified relief in a civil action, even if the mother consented to the abortion, unless the pregnancy resulted from the plaintiff's criminal conduct or the plaintiff consented to the abortion. Prohibits the prosecution of a woman upon whom a partial-birth abortion is performed for conspiracy to violate this Act or under provisions regarding punishment as a principal or an accessory or for concealment of a felony.
United States · United States Congress · 21 January 1997
National Research Investment Act of 1997 - States purposes of this Act, including to double the annual authorized amount of Federal funding for basic science and medical research over the ten-year period following enactment of this Act. Authorizes appropriations for covered research and development for FY 1998 through 2007 to be used by the National Institutes of Health of the Department of Health and Human Services. Sets forth limitations on the use of such funds.
United States · United States Congress · 21 January 1997
Amends the Age Discrimination in Employment Act of 1967 to declare that it is not a violation of certain age discrimination provisions solely because a plan or arrangement of a higher education institution offers employees with unlimited tenure benefits on a voluntary retirement that are reduced or eliminated on the basis of age.
United States · United States Congress · 21 January 1997
Americas Free Trade Act - Requires the President to initiate trade agreement negotiations with Western Hemisphere countries for the reduction and elimination of tariffs and nontariff trade barriers and the establishment of a Western Hemisphere free trade area. Declares that this Act shall not apply to Cuba unless the President certifies to the Congress that: (1) freedom has been restored in Cuba; and (2) the claims of U.S. citizens for compensation for expropriated property have been appropriately addressed. Sets forth determinations the President must make about Cuba before certifying that freedom has been restored. Requires that, once such certification is made, priority be given to negotiation of a free trade agreement with Cuba. Applies the fast-track procedures of the Trade Act of 1974 to implementing bills for trade agreements entered under this Act.
United States · United States Congress · 21 January 1997
Higher Education Bond Parity Act - Amends the Internal Revenue Code to provide for the tax treatment of bonds of certain nonprofit tax-exempt organizations in a manner similar to governmental bonds.
United States · United States Congress · 21 January 1997
NAFTA Accession Act - Authorizes the President to enter into an agreement for the accession of Chile to the North American Free Trade Agreement (NAFTA). Applies the fast track procedures of the Trade Act of 1974 to implementing bills for trade agreements entered under this Act.
United States · United States Congress · 21 January 1997
TABLE OF CONTENTS: Title I: Child Tax Credit Title II: Capital Gains Reform Subtitle A: Taxpayers Other Than Corporations Subtitle B: Corporate Capital Gains Subtitle C: Capital Loss Deduction Allowed with Respect to Sale or Exchange of Principal Residence Title III: Estate and Gift Provisions Title IV: Savings Incentives American Family Tax Relief Act - Title I: Child Tax Credit - Amends the Internal Revenue Code to allow a credit of $500 per child. Reduces such credit incrementally as income increases above threshold amounts. Title II: Capital Gains Reform - Subtitle A: Taxpayers Other Than Corporations - Provides for taxpayers, other than corporations, a deduction of 50 percent of net capital gain. Provides that, in the case of an estate or trust, the deduction shall be computed by excluding the portion of the gains from sales or exchanges of certain capital assets includible in gross income by the income beneficiaries as gain derived from the sale of capital assets. Excludes collectibles gain from the computation of net capital gain. Sets forth a formula for determining the maximum rate on nondeductible capital gain. Allows the deduction in computing adjusted gross income. (Sec. 202) Provides that for taxpayers, other than corporations, the indexed basis of an asset shall be substituted for its adjusted basis in determining gain on the disposition of an indexed asset, if held more than three years. Defines an indexed asset as: (1) common stock in a C corporation; and (2) tangible property which is a capital asset used in a trade or business. Defines the indexed basis as: (1) the adjusted basis of the asset, increased by; (2) the applicable inflation adjustment. Defines applicable inflation adjustment. Suspends treatment of an asset as an indexed asset during any period in which a taxpayer enters into an agreement which substantially reduces the risk of loss of holding the asset. Provides for the treatment of short sales. Permits such substitution, subject to stated exceptions, to any qualified investment entity. Permits stock in a regulated investment company or a real estate investment trust to be an indexed asset as specified. Provides for pass-through in the case of: (1) a partnership to partners; (2) an S corporation to shareholders; and (3) a common trust fund to participants. Makes the provisions of this section inapplicable to a disposition of property between related persons, except to the extent that the basis of such property in the hands of the transferee is a substituted basis. Sets forth rules concerning: (1) improvements; (2) assets which are not indexed assets throughout the holding period; (3) treatment of certain dispositions; (4) acquisition date where there has been a prior application of this section; and (5) collapsible corporations. Applies the provisions of this section to the disposition of property the holding period of which began after December 31, 1996. (Sec. 203) Repeals the minimum tax preference applicable to the sale of certain small business stock. Doubles the amount of assets a qualified small business may have and remain eligible for reduced rates. Repeals the per-issuer limitation on a taxpayer's eligible gain. Requires that certain working capital of a small business must be expended in five (currently, two) years to be treated as actively in business. Subtitle B: Corporate Capital Gains - Provides for a reduction in the alternative capital gains tax for corporations. Subtitle C: Capital Loss Deduction Allowed With Respect to Sale or Exchange of Principal Residence - Treats as a deductible capital loss a loss from the sale or exchange of a principal residence. Title III: Estate and Gift Provisions - Increases, over an eight year period, the unified estate and gift tax credit. (Sec. 302) Establishes estate tax rules for qualified family-owned business interests, if such interests exceed 50 percent of the adjusted gross estate. Excludes, subject to specified requirements, from the value of such an estate the lesser of: (1) the adjusted value of the qualified family-owned business interests of the decedent otherwise includible in the estate, or; (2) the sum of $1.5 million, plus 50 percent of the excess of the adjusted value of such interests over $1.5 million. Subjects such exclusion to recapture, if specified events occur. (Sec. 303) Extends from 10 to 20 years the amount of time permitted to an estate for making installment payments of the estate tax in an estate consisting largely of interest in a closely held business. Revises provisions concerning the payment of interest on such tax to make a certain portion interest-free. Title IV: Savings Incentives - Increases incrementally, through the year 2000, the adjusted gross income phaseout limits for IRA (individual retirement account) contributions. Repeals, after the year 2000, such limits. Permits a spouse who is not an active IRA plan participant to make a deductible IRA contribution of up to $2,000 without regard to such limits. (Sec. 403) Permits an individual to create an IRA Plus Account into which limited nondeductible contributions can be made. Excludes a qualified distribution from gross income. Defines a qualified distribution as any distribution made: (1) after age 59 and one-half; (2) to a beneficiary after the death of the owner of the account; (3) because of disability; or (4) as a qualified special purpose distribution (medical expenses, long-term unemployment, etc.). Prohibits distributions made within five years of establishing (or, of rolling over into) such an account as being treated as qualified distributions. (Sec. 404) Permits tax-free withdrawals from an individual retirement account for: (1) business start-up costs; (2) long-term (more than 12 weeks) unemployment; or (3) higher education expenses of the taxpayer or the taxpayer's spouse or child.
United States · United States Congress · 21 January 1997
Constitutional Amendment - Grants victims of crimes of violence and other crimes that the Congress may define by law the right to: (1) notice of, and to not be excluded from, all public proceedings relating to the crime; (2) be heard, if present, and to submit a statement at a public pre-trial or trial proceeding to determine a release from custody, an acceptance of a negotiated plea, or a sentence (grants such rights at a public parole proceeding, or at a non-public parole proceeding to the extent they are afforded to the convicted offender); (3) notice of a release pursuant to a public or parole proceeding or an escape; (4) a final disposition of the proceedings relating to the crime free from unreasonable delay; (5) an order of restitution from the convicted offender; (6) consideration for the victim's safety in determining any release from custody; and (7) notice of the rights established by this amendment. Grants the victim standing to assert such rights. Provides that nothing in this amendment shall: (1) provide grounds for the victim to challenge a charging decision or a conviction, to obtain a stay of trial, or to compel a new trial or for the accused or convicted offender to obtain any form of relief; or (2) give rise to a claim for damages against the United States, a State, a political subdivision, or a public official. Grants power to the Congress and the States to enforce this amendment within their respective jurisdictions by appropriate legislation, including the power to enact exceptions when required for compelling reasons of public safety or for judicial efficiency in mass victim cases.
United States · United States Congress · 21 January 1997
Paycheck Protection Act - Amends the Federal Election Campaign Act to make it unlawful, except with the separate, prior, written, voluntary authorization of each individual, for: (1) national banks or corporations to collect or assess its stockholders or employees any dues, initiation fee, or other payment as a condition of employment if any part of such dues, fee, or payment will be used for political activities in which the national bank or corporation is engaged; and (2) labor organizations to collect from or assess its members or nonmembers any dues, fee, or other payment if any part of such dues, fee, or payment will be used for political activities. States that an authorization shall remain in effect until revoked and may be revoked at any time.
United States · United States Congress · 21 January 1997
Constitutional Amendment - Requires a two-thirds vote of each House of the Congress in order to pass any bill levying a new tax or increasing the rate or base of any tax. Allows the Congress to waive that requirement during war or certain military conflict. Requires all votes under this Amendment to be by yeas and nays and the names of persons voting for and against to be entered in the Journal of each House.
United States · United States Congress · 21 January 1997
Constitutional Amendment - Requires the Congress, before each fiscal year, to adopt a statement in which total Federal outlays do not exceed total receipts, unless a three-fifths vote of both Houses authorizes a specific excess. Prohibits a bill to increase tax revenue from becoming law unless approved by a three-fifths majority in each House. Authorizes Congress to waive by joint resolution this amendment in time of war or imminent and serious threat to national security. Directs the President to submit a balanced budget annually. Sets a permanent limit on the amount of Federal public debt, prohibiting any increase unless legislation enacted by a three-fifths majority of each House of Congress becomes law. Requires roll call votes in the House and Senate under this amendment. Requires this amendment to take effect for the later of FY 2002 or the second fiscal year beginning after its ratification.
United States · United States Congress · 21 January 1997
TABLE OF CONTENTS: Title I: Product Liability Reform Title II: Biomaterials Access Assurance Title III: Limitations on Applicability; Effective Date Product Liability Reform Act of 1997 - Title I: Product Liability Reform - Applies this Act to any product liability action in any State or Federal court on any theory for harm caused by a product, except for commercial loss actions. (Sec. 103) Imposes seller liability if the seller failed to exercise reasonable care, made an express warranty, or engaged in intentional wrongdoing. Declares that a failure to inspect is not a failure of reasonable care if there was no reasonable opportunity to inspect or if the inspection would not have revealed the aspect that caused the harm. Makes a seller liable as a manufacturer if the manufacturer is not subject to service or if the claimant would be unable to enforce a judgment. Makes certain persons engaged in the business of renting or leasing liable as a seller, but prohibits liability for the tortious act of another solely by reason of ownership. (Sec. 104) Makes it a complete defense if the claimant was under the influence of alcohol or a drug and was more than 50 percent responsible. (Sec. 105) Reduces damages by the percentage of harm attributable to misuse or alteration, except for actions involving an employer or co-employee if the employer or co-employee is, under State law, immune from claimant's action. (Sec. 106) Limits the time within which a product liability action must be started, with a separate limit for durable goods other than motor vehicles, vessels, aircraft, or trains used primarily to transport passengers for hire. (Sec. 107) Allows a claimant or defendant in a product liability action to offer to proceed with voluntary, nonbinding alternative dispute resolution. (Sec. 108) Allows punitive damages, as permitted by State law, if the claimant shows by clear and convincing evidence that the defendant's conduct, carried out with a conscious, flagrant indifference to the rights or safety of others, was the proximate cause of the harm. Regulates punitive damage amounts. (Sec. 110) Permits several and prohibits joint liability for noneconomic loss, allocating liability in direct proportion to the percentage of responsibility. (Sec. 111) Grants an insurer a right of subrogation whether or not the insurer is a party. Prohibits an employee from making settlements or accepting payments without the consent of the employer. Requires, if the manufacturer or seller alleges the harm was the fault of the claimant's employer or coemployee, that the issue be submitted to the trier of fact. Reduces damages if it is found by clear and convincing evidence that the harm was so caused, but requires the manufacturer or seller to reimburse the insurer for attorney's fees and costs if it is not so found. Title II: Biomaterials Access Assurance - Biomaterials Access Assurance Act of 1997 - Applies this title, subject to exception, to any civil action in Federal or State court against a manufacturer, seller, or biomaterials supplier, on any legal theory, for harm allegedly caused by an implant. (Sec. 205) Declares that a biomaterials supplier shall not be liable for harm caused by an implant unless the supplier: (1) is a manufacturer; (2) is a seller; and (3) furnishes materials or parts that fail to meet contractual requirements or specifications. Sets forth the circumstances in which a supplier may be considered a manufacturer and the circumstances in which a supplier may be considered a seller. Allows a supplier, to the extent required and permitted by other law, to be liable if the claimant shows, by a preponderance of the evidence, violation of contractual requirements or specifications. (Sec. 206) Sets forth procedures relating to motions by a supplier to dismiss actions that are subject to this title. Title III: Limitations on Applicability; Effective Date - Makes any circuit court of appeals decision interpreting this Act a precedent for any Federal or State court within that court's geographic jurisdiction. Declares that U.S. district courts shall not have jurisdiction under this Act based on provisions of the U.S. Code relating to Federal questions, commerce and antitrust, and amounts in controversy.
United States · United States Congress · 21 January 1997
Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts (except those derived from borrowing) for that fiscal year unless the Congress, by a three-fifths roll call vote of each House, authorizes a specific excess of outlays over receipts. Requires a three-fifths roll call vote of each House to increase the public debt. Directs the President to submit a balanced budget to the Congress. Requires the approval of a majority of each House by roll call vote before any bill to increase revenue may become law. Authorizes the Congress to waive these provisions when: (1) a declaration of war is in effect; or (2) the United States is engaged in a military conflict which poses a threat to national security as declared by a joint resolution adopted by a majority of each House. Makes this article effective beginning with FY 2002 or with the second fiscal year beginning after its ratification, whichever is later.
United States · United States Congress · 21 January 1997
Biomedical Research Commitment Resolution of 1997 - Expresses the sense of the Senate that appropriations for the National Institutes of Health should be increased by 100 percent over the next five fiscal years.
United States · United States Congress · 27 September 1996
ISTEA Integrity Restoration Act - Makes specified unobligated balances of funds apportioned to a State under the Intermodal Surface Transportation Efficiency Act of 1991 before October 1, 1997, available for obligation in that State under the law, regulations, policies, and procedures relating to the obligation and expenditure of those funds in effect on September 30, 1997. (Sec. 5) Authorizes appropriations out of the Highway Trust Fund (other than the Mass Transit Account) for FY 1998 through 2002 for: (1) the National Highway System (NHS); (2) the Surface Transportation Program (STP); and (3) the Federal Lands Highway Program (FLHP), including Indian reservation roads, public lands highways, and parkways and park highways. (Sec. 6) Modifies the definition of: (1) "Federal-aid system" to mean the NHS; and (2) NHS to mean the Federal-aid highway system established pursuant to Federal highway provisions. Defines "highway funds," beginning on October 1, 1997, to mean the funds apportioned and allocations authorized by such provisions to a State for a fiscal year and the funds administratively allocated to a State for the preceding fiscal year (if any) for Federal-aid highway and highway safety construction (other than funds made available for the FLHP and for emergency relief). Modifies provisions regarding Federal-aid systems and the formula for apportionments of NHS funds. (Sec. 7) Repeals provisions regarding: (1) apportionments for resurfacing, restoring, rehabilitating, and reconstructing the Interstate System (IS); and (2) the transfer of interstate construction apportionments, the transfer of funds for STP projects, and limits on new capacity. (Sec. 8) Modifies STP provisions regarding the location of projects and allocations of apportioned funds. Authorizes a State, in nonattainment areas for ozone or carbon monoxide, or for PM-10 resulting from transportation activities, or any combination thereof, to obligate STP funds for any congestion mitigation and air quality improvement project or program without regard to any Department of Transportation limitation relating to the type of ambient air quality standard such project or program addresses. (Sec. 9) Directs that, for purposes of STP and IS provisions, population shall be determined based on the most recent estimates prepared by the Secretary of Commerce. (Sec. 10) Repeals provisions regarding: (1) the highway bridge replacement and rehabilitation program; and (2) the congestion mitigation and air quality improvement program. (Sec. 12) Replaces provisions regarding minimum allocations to States with an apportionment adjustment program to provide that the Secretary shall apportion among the States additional amounts sufficient to ensure that the ratio of the highway funds of the State to those of all States for the fiscal year is not less than certain listed percentages for the State. Repeals existing apportionment adjustment programs. (Sec. 13) Repeals set-asides for: (1) railway-highway crossing hazard elimination in high speed rail corridors; and (2) interstate discretionary programs. (Sec. 14) Modifies Federal highway provisions to require the Secretary, whenever an apportionment is made of the sums authorized to be appropriated for expenditure on the STP and NHS, to deduct a sum not to exceed two percent of all sums so authorized as the Secretary may deem necessary for administering the legal provisions to be financed from appropriations for the Federal-aid systems and for carrying on specified research authorized by such provisions.
United States · United States Congress · 24 September 1996
Designates room S. 131 in the U.S. Capitol Building as the Mark O. Hatfield Room.
United States · United States Congress · 29 July 1996
Defense of Marriage Act - Amends the Federal judicial code to provide that no State, territory, or possession of the United States or Indian tribe shall be required to give effect to any marriage between persons of the same sex under the laws of any other such jurisdiction or to any right or claim arising from such relationship. Establishes a Federal definition of: (1) "marriage" as only a legal union between one man and one woman as husband and wife; and (2) "spouse" as only a person of the opposite sex who is a husband or wife.
United States · United States Congress · 16 July 1996
TABLE OF CONTENTS: Title I: Findings and Purposes Title II: Property Rights Litigation Relief Title III: Alternative Dispute Resolution Title IV: Private Property Taking Impact Analysis Title V: Private Property Owners Administrative Bill of Rights Title VI: Miscellaneous Omnibus Property Rights Act of 1996 - Title I: Findings and Purposes - Sets forth findings and purposes for this Act. Title II: Property Rights Litigation Relief - Prohibits Federal and State agencies from taking private property except for public use and with just compensation to the owner. Sets forth the circumstances in which compensation is required. Prohibits filing claims against a State agency for carrying out a regulatory program mandated by Federal law, delegated under a Federal program, or funded by Federal funds in connection with a State regulatory program. Title III: Alternative Dispute Resolution - Provides for settlement or arbitration, on consent of both parties, of property rights disputes. Declares that title 9 of the U.S. Code (relating to arbitration) shall apply to enforcement of awards rendered under this title. Title IV: Private Property Taking Impact Analysis - Requires that Federal agency actions likely to result in the taking of private property be preceded by a written impact analysis available to the public. Title V: Private Property Owners Administrative Bill of Rights - Directs Federal agency heads enforcing the Endangered Species Act and the Federal Water Pollution Control Act to: (1) comply with State and tribal laws; (2) act in the manner least intrusive to private property rights; (3) implement rules and regulations to ensure the protection of those rights; (4) refrain from entering private property to acquire information without the written consent of and notice to the owner; and (5) refrain from using data collected on privately owned property to implement or enforce such Acts without providing the property owner with access to and the opportunity to dispute the data. (Sec. 506) Amends the Federal Water Pollution Control Act and the Endangered Species Act of 1973 to establish property owner appeal rights. (Sec. 508) Requires agency heads to provide owners of private property adversely affected by agency action with the option to: (1) sell the property to the agency for fair market value without use restrictions; (2) receive compensation for any resulting decrease in the property's fair market value; or (3) enter into arbitration. Requires that payment under this title, at the property owner's election, be provided for in accordance with the standard specified under title II of this Act, or in the amount equal to the fair market value of the property before the date of the final agency action with respect to which the property or interest is acquired. (Sec. 509) Amends the Endangered Species Act of 1973 to require notice to all private property owners or lessees of property subject to the Act of any new management agreement with a non-Federal person that establishes restrictions on property use, providing each of them the opportunity to participate in the agreement. Title VI: Miscellaneous - Sets forth severability provisions and the effective date of this Act.