United States · United States Congress · 19 June 1980
Amends the Internal Revenue Code to exempt a certain portion of royalty owner oil production from the windfall profit tax. Limits the amount so exempted per quarter to ten barrels per day. Requires proportionate allocation of any production in excess of ten barrels per day between tier 1 oil, tier 2, and tier 3 oil, and within any tier on the basis of removal prices. Requires allocation of the ten barrel amount among royalty owners who are members of the same related group.
United States · United States Congress · 18 June 1980
Amends the Internal Revenue Code to allow the investment tax credit to certain individuals who purchase used depreciable business property used for farming purposes (including livestock used for breeding purposes) from a related party. Limits such allowance to the first sale of such property to a qualified individual.
United States · United States Congress · 18 June 1980
Expresses the sense of Congress regarding the domestic automotive and truck industry. Declares it to be a goal of the United States to achieve technological superiority in the world automobile and truck industry. Advocates changes in economic, fiscal, and import policies in order to create adequate capital and produce a more favorable climate for the domestic automobile and truck industry.
United States · United States Congress · 17 June 1980
Designates October 19, 1981, as a Day of National Celebration of the 200th Anniversary of the victory of General George Washington at Yorktown, Virginia.
United States · United States Congress · 12 June 1980
Urban Jobs and Enterprise Zone Act of 1980 - Title I: Designation of Private Jobs and Enterprise Zones - Amends the Internal Revenue Code to provide for the designation of private jobs and enterprise zones, for a ten-year period, by local governments, or by State governments on behalf of local governments subject to the approval of the Secretary of Commerce, for purposes of extending the tax incentives provided by title II of this Act to employers and employees within designated zones. Specifies that the Secretary may only approve the designation of such zones if: (1) the area is within the jurisdiction of the designating local government; (2) the boundary of the area is continuous; (3) the area has a population of at least 4,000, or is an Indian reservation; and (4) the area meets specified unemployment and poverty requirements. Requires designating local governments, as a condition of the Secretary's approval, to effect a permanent real property tax reduction in their respective jurisdictions, which is not less than 20 percent of the current effective rate. Requires any such property tax reduction to be disregarded for the purpose of determining the eligibility of a State or local government for Federal assistance or benefits. Expresses the sense of the Congress that in the case of any application for designation of an area in a private jobs and enterprise zone as a foreign trade zone: (1) the Foreign-Trade Zone Board should expedite the application process; (2) the Board, in evaluating such application, should consider not only the current economic conditions within the zone, but also future development to be expected as a result of the incentives provided by this Act; and (3) the Board should provide technical assistance to the applicants. Title II: Tax Incentives - Amends the Internal Revenue Code to reduce social security payroll taxes in designated private jobs and enterprise zones. States that such tax rate reductions shall not affect an individual's eligibility for social security benefits. Appropriates to the Federal Disability and Hospital Insurance Trust Funds general revenue amounts equivalent to the amount by which such taxes are reduced. Reduces the rate of tax on the capital gains of individuals and corporations in such zones. Exempts gain from the sale or exchange of property used in a business in a private jobs and enterprise zone from the computation of the minimum tax. Reduces the rate of tax on the income to corporations whose workforce comprises at least 50 percent of individuals working in a private jobs and enterprise zone (qualifying businesses). Authorizes accelerated depreciation for qualifying businesses (straight line method based on a three year useful life). Limits the basis for depreciation to $500,000. Allows a full investment tax credit for such property despite election of such accelerated depreciation. Permits qualifying businesses to elect to use a cash method of accounting if their gross receipts do not exceed $1,500,000 in any prior taxable year. Allows a ten year carryover of net operating losses for qualifying businesses. Title III: Effective Date - Specifies effective dates for provisions of this Act which apply to income tax, provisions which apply to social security payroll taxes, and provisions which apply to tax procedure and administration.
United States · United States Congress · 10 June 1980
Expresses the sense of the Senate that the President instruct the Attorney General to prosecute all persons who violate the Logan Act and the executive order prohibiting travel to Iran, thereby giving color of right to illegal actions by the Government of Iran.
United States · United States Congress · 6 June 1980
School Lunch and Child Nutrition Amendments Act of 1980 - Amends the National School Lunch Act to reduce the national average value of donated foods or alternative cash payments by one cent per lunch. Eliminates the updating of the income poverty guidelines for the purpose of determining eligibility for participation in the school lunch program. Permits the Secretary of Agriculture, the State, and local school authorities to seek verification of the data submitted in an application for participation in such program. Requires as a condition of participation in such program that the social security account numbers of all members of an applying household be furnished to such authorities. Permits the use of such numbers for the vertification of submitted data. Prescribes the income guidelines for free lunches at 20 percent (rather then 25 percent) above the applicable family size income levels in the income poverty guidelines prescribed by the Secretary. Prescribes the income guidelines for reduced price lunches at 75 percent (rather than 95 percent) above such guidelines. Modifies the income poverty guidelines for the purposes of this Act. Reformulates the computation of special assistance payments. Directs the Secretary to prescribe annually (rather than semiannually) adjustments in the national average rates for lunches served and the special-assistance factor for lunches served under the National School Lunch Act and the national average rates for breakfasts served under the Child Nutrition Act of 1966. Excludes Job Corps Centers from the definition of school for the purposes of the National School Lunch Act. Requires claims for reimbursement for meals served under the National School Lunch Act or the Child Nutrition Act of 1966 to be submitted to the State agency within a specified period of time. Authorizes appropriations for the commodity distribution program through fiscal year 1983. Requires each State agency that distributes commodities and other foods to schools under such program to establish procedures to permit a school to receive the desired amounts and types of commodity assistance, including the delivery of alternative commodities when available. Directs the Secretary to adjust annually (rather than semiannually) the national average payment rate to the States for the child care food program. Requires the average payment rate for supplements to be three cents lower than such adjustment. Reduces the amount available to the Secretary to provide equipment assistance to enable institutions to establish, maintain, and expand the child care food program. Permits the Secretary to establish special procedures for the conduct of audits of participating institutions. Authorizes the Secretary to require each State to establish a standard form of contract for use by institutions in purchasing meals. Requires regulations issued under the National School Lunch Act or the Child Nutrition Act of 1966 to be submitted to Congress before becoming effective. Amends the Child Nutrition Act of 1966 to establish the rate of reimbursement per half-pint of milk served to children not eligible for free milk under the special milk program at five cents. Requires whole milk to be also offered in the school lunch program whenever other milks are required to be offered. Requires annual rather than semiannual adjustments in the maximum payment for each free breakfast served at schools that are in severe need. Extends through fiscal year 1983 the authorization of appropriations for the food service equipment assistance program. Directs the Secretary to reapportion unused funds. Directs the Secretary to allocate funds for State administrative expenses to the agencies responsible for the administration of the programs authorized under the National School Lunch Act and the Child Nutrition Act of 1966, excepting the special supplemental food program. Permits the States to use the allocated funds as needed in meeting the administrative costs of such programs. Extends the authorization of appropriations for State administrative expenses through fiscal year 1983. Excludes Job Corps Centers from the definition of school for the purposes of the Child Nutrition Act. Grants the Secretary the power to determine the amount of and settle and adjust any claim arising under the provisions of such Acts. Extends the authorization of appropriations for the special supplemental food program through fiscal year 1983. Prohibits the dual receipt of benefits under such program and the commodity supplemental food program authorized under the Food and Agriculture Act of 1977. Reformulates the income eligibility guidelines for such program. Extends the authorization of appropriations for the nutrition education and training program through fiscal year 1983. Directs the Secretary to give special emphasis to high protein foods when providing commodity assistance. Limits Federal reimbursement to the combined operating costs for both the lunch and breakfast programs. Modifies the formula for determining the amount of special assistance payments.
United States · United States Congress · 6 June 1980
Expresses the sense of the Senate that the President instruct the Attorney General to prosecute all persons who violate the Logan Act, thereby giving color of right to illegal actions by the Government of Iran.
United States · United States Congress · 29 May 1980
National Export Policy Act of 1980 - Title I: General Findings and Purposes - Sets forth congressional findings and the purposes of this Act. Title II: Export Financing - Amends the Export - Import Bank Act of 1945 to direct the Export-Import Bank to adopt export finance programs comparable in structure to those extraordinary measures of official export credits offered by competing countries, until such financing is limited by international agreements. Requires the Bank to report annually to Congress as to whether any additional appropriations or any increases in its commitment authority or ceiling levels are necessary to carry out this Act. States that this Act shall not take effect until six months after enactment, unless the President defers the effective date for an additional six months. Declares it to be the policy of the Congress that the Export-Import Bank of the United States should facilitate, particularly in the presence of foreign officially-supported export credit competition, exports to countries: (1) having insufficient access to international credit facilities; (2) demonstrating reasonable economic progress; and (3) offering adequate formal assurances of repayment (currently, must offer sufficient likelihood of repayment). Increases the aggregate amount of loans and contractual liability of guarantees and insurance which may be outstanding at any one time. Requires such activities to be carried out through the Export Expansion Facility. Provides for the capitalization of such Facility. Establishes staggered, ten-year terms of office for the Bank directors. Declares that the House and Senate Appropriations Committees should consider limitations on Bank activities when considering appropriations for international trade activities rather than when considering foreign assistance activities. Title III: Export - Related Tax Policy - Amends the Internal Revenue Code to increase the earned income exclusion for United States citizens working abroad, who are bona fide residents of a foreign country, from an annual rate of $20,000 to: (1) $50,000; or (2) $65,000, if such persons qualify as bona fide residents for certain specified periods. Allows separate exclusions to married individuals who are both working overseas, although one's excess exclusion cannot be used against income earned by the other. Waives the residency requirements to qualify for such exclusion for those required to leave a foreign country because of civil unrest, war, or similar adverse conditions precluding the normal conduct of business. Reduces from 17 to 11 months the foreign residency requirement with respect to the deduction for certain housing expenses of living abroad. Revises the formula for determining the base housing amount with regard to such deduction to make it 16 percent of the salary of a GS-14, step 1. Repeals similar deductions for cost-of-living differential, schooling expenses, home leave travel expenses, and residence in a hardship area. Provides that the foreign bad debt loss deduction shall not exceed the greater of 15 percent of the taxpayer's taxable income from exports, or two percent of the taxpayer's export receivables outstanding at the close of the taxable year. Provides that the amount of bad debt losses that may be added to a bad debt reserve shall not exceed five percent of the taxpayer's export receivables outstanding as of the close of the taxable year. Permits the amortization, based on a period of 60 months, of: (1) foreign market studies; (2) foreign marketing expenses; and (3) foreign patents. Permits an income tax deduction for currency fluctuation losses on export credit which have not been repaid by the end of the taxable year. Authorizes the Secretary of the Treasury to extend the six-month deadline for exempting exports from the manufacturer's excise tax for an additional 12 months if it is determined, after consultation with the Secretary of State, that exports were delayed because of war, civil unrest, or similar adverse conditions in a foreign nation. Amends the Foreign Trade Zones Act to authorize the Secretary of Commerce to approve the duty-free entry of machinery, materials, and fuels to be used for the production of goods in a foreign trade zone if such goods are not subsequently entered into U.S. customs territory. Sets forth requirements before applications for such treatment will be approved. Makes such approval valid for six years. Requires the Foreign Trade Zones Board to include in its annual report to Congress a summary of activities and proposals to increase the use of foreign trade zones to expand U.S. exports. Makes banking organizations which have invested in an export trading company eligible for treatment as domestic international sales corporations (DISC). Includes the gross receipts from the export of services produced in the United States and from export trade services as qualified export receipts, in the case of a DISC which is an export trading company. Directs the Secretary of Commerce, with the Secretary of the Treasury, to develop and distribute information concerning the utilization of the DISC provisions. Makes export trading companies eligible for Subchapter S treatment if the shareholders of such companies are otherwise small business corporations. Exempts such companies from restrictions on the amount of foreign income they can receive and still be eligible for Subchapter S tax treatment. Title IV: Antitrust - Amends the Webb-Pomerene Act to exempt the export trade, export trade activities, and methods of operation of certified export trade associations and export trading companies from the antitrust laws. Delays the effectiveness of any certificate upon the notification of the Secretary of Commerce by the Attorney General or the Federal Trade Commission (FTC) of disagreement with the decision to issue a certificate. Sets forth the procedure to be followed by any association, company, or export trading company seeking certification under this Act and by the Secretary in issuing such certificates. Provides for appeal of the Secretary's denial of certification. Authorizes the Attorney General or the FTC to bring an action to invalidate a certification. Requires the Secretary, in consultation with the Attorney General and the FTC, to publish guidelines for determining whether an association or export trading company will meet the certification requirements. Requires certified associations and export trading companies to submit annual reports to the Secretary. Directs the Secretary to establish within the Department of Commerce an office to promote export trade associations and trading companies. Provides for automatic certification of existing associations. Requires that all applications for certification be kept confidential with specified exceptions. Authorizes the Secretary to require an association or trading company to modify its operation to be consistent with international obligations of the United States. Directs the President to appoint, with the Senate's advice and consent, a task force seven years after enactment to examine the effect of this Act and to make recommendations. Directs the Attorney General to study whether: (1) U.S. business conduct to expand exports conflicts with basic antitrust principles; and (2) a more liberal enforcement policy for overseas activities would impede implementation of the antitrust laws. Requires the Attorney General to identify such conduct which would not warrant prosecution under the antitrust laws. Sets forth the procedures for describing such permissible conduct and disclosing such descriptions. Authorizes the Secretary of Commerce to intervene in such suits and to provide legal assistance to exporters. Prohibits prosecution under the antitrust laws of exporters who: (1) have notified the Attorney General of their intention to engage in such designated conduct; or (2) receive an approval, or no objection, from the Attorney General concerning proposed transactions. Requires the Attorney General and the Secretary of Commerce to report to Congress concerning implementation of this section. Title V: Amendments to Other Laws That Hinder Exports - Amends the Foreign Corrupt Practices Act of 1977 to change the name of such Act to the Business Practices and Records Act. Amends the Securities Exchange Act of 1934 to require issuers of securities to keep their books and maintain a system of internal accounting controls in accordance with generally accepted accounting principles. Makes issuers liable for knowingly falsifying any books or for the intentionally wrongful maintenance or circumvention of the system of internal accounting controls. Requires only good faith efforts by issuers holding 50 percent or less of the equity capital to use their influence to cause transactions and dispositions of assets to be carried out consistent with such provisions. Repeals the provisions specifying prohibited foreign corrupt practices by issuers. Amends the Business Practices and Records Act to include issuers within the provisions specifying prohibited foreign corrupt practices by domestic concerns. Permits items of value to be given to foreigners in specified circumstances, including courtesy items, demonstration expenses, and payments lawful under the laws of the country of the intended recipient. Directs the Attorney General to issue guidelines specifying permissible conduct and arrangements associated with common types of export sales arrangements and business contracts and precautionary procedures creating a rebuttable presumption of compliance. Provides for the establishment of a Business Practices and Records Act Review Procedure to answer specific inquiries concerning enforcement of such Act. Requires the Attorney General to issue opinions regarding compliance. Makes such opinions final and binding on all parties if the conduct does not involve a violation. Requires annual reports to Congress by: (1) the Attorney General concerning actions taken pursuant to such Act; and (2) the Securities and Exchange Commission concerning the reporting requirements. Expresses the sense of the Congress that the President should negotiate agreements establishing standards of conduct for international business practices, a resolution procedure, and rates of commissions. Directs the President to report to Congress concerning the progress of such negotiations. Requires Congress to review the Business Practices and Records Act after receiving the President's report. Requires an export competitiveness impact statement from any issuing authority taking significant action which could affect adversely U.S. exports or the international competitive position of the United States and its exporters. Expresses the sense of Congress that export paperwork must be reduced to encourage export sales. Requires all agencies to minimize paperwork and reporting requirements. Title VI: Export Awareness and Export Promotion Programs - Export Trading Company Act of 1980 - Directs the Secretary of Commerce to promote export trading companies and facilitate contracts between producers of exportable goods and export trading companies. Authorizes any banking organization to invest up to specified amounts in export trading companies upon notifying, but without obtaining the prior approval of, the appropriate Federal banking agency, if such investment does not cause an export trading company to become a subsidiary of such organization. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations with the prior approval of the appropriate Federal banking agency. Requires prior notification of such agencies in specified circumstances. Sets forth further limitations on export trading companies and investments by banking organizations. Specifies factors to be taken into consideration by the banking agencies. Permits such agencies to impose conditions in approving applications to invest in export trading companies. Requires such agencies to report to the appropriate congressional committees concerning implementation of this Act and any recommendations. Provides for judicial review of denial orders in the appropriate U.S. Court of Appeals. Sets forth the grounds for disapproval. Provides for remand for further consideration by the banking agency. Directs the Economic Development Administration and the Small Business Administration to give special weight to export-related benefits when considering applications for loans and guarantees by export trading companies. Directs the Export-Import Bank of the United States to provide loan guarantees to export trading companies or exporters to be secured by accounts receivable or inventories when adequate financing is not otherwise available and such guarantees will facilitate expansion of exports. Small Business Export Expansion Act of 1980 - Amends the Small Business Act to authorize the Administrator of the Small Business Administration (SBA) to permit participating lending institutions to take actions on behalf of the Administrator with respect to deferred participation loans. Empowers the SBA either directly or in cooperation with lending institutions, to extend credit for export purposes to enable small business concerns to develop foreign markets. Limits the extension of such credit to periods of 18 months or less. Sets a maximum of $750,000 which may be committed to any borrower from the business loan and investment revolving fund. Establishes within the Administration an Office of International Trade to promote sales opportunities for small business goods and services abroad. Requires such Office to: (1) provide small businesses with access to current and complete export information; (2) encourage greater small business participation in trade fairs, shows, missions, and other domestic and overseas export development activities of the Department of Commerce; and (3) assign full-time export development specialists to each Administration regional office. Directs the Administrator, after consultation with specified agencies, to establish an export promotion center in each of two regional offices of the Administration where field offices of the Department of Commerce and the Internal Revenue Service exist. Requires each such center to serve as a one- stop information center on Federal Government export assistance, financing programs available to small business, and other provisions of law governing exporting for small business. Requires: (1) a progress report on the implementation of such centers to the appropriate Congressional committees within six months of enactment of this Act; and (2) an evaluation, within two years after enactment, of the effectiveness of such centers in developing and expanding small business exports. Authorizes the Secretary of Commerce to make grants to qualified applicants to encourage the development and implementation of small business international marketing programs. Sets forth eligibility requirements for applicants. Prohibits the use of any Federal funds to directly underwrite any small business participation in foreign trade missions abroad. Requires each small business international marketing program to: (1) have a full-time staff director to manage program activities; (2) have access to export specialists to counsel and assist small business clients; and (3) establish an advisory board. Directs the Secretary to require, as a condition to any grant, that an additional amount equal to twice the amount of such grant be provided from sources other than the Federal Government. Directs the Secretary to develop a plan to evaluate such programs to: (1) determine the impact of such programs on the small businesses assisted; (2) determine the amount of export sales generated by such businesses; and (3) make recommendations concerning continuation and/or expansion of the program. Requires the establishment of at least one small business international program within each region of the Department of Commerce. Directs the Secretary of Commerce, through the International Trade Administration, to maintain a central clearinghouse for the collection, dissemination, and exchange of information between such programs. Directs the Secretary to enter into cooperative agreements with industrial corporations to develop foreign markets for their products. Requires the Secretary to direct specific market research for the products involved in foreign markets upon entering such agreements. Permits interested industrial corporations to submit a proposal incorporating specific marketing actions to the Secretary. Authorizes the Secretary to enter into a marketing agreement after approving any such proposal. Requires repayment of the Federal share of the costs by the entity entering into such an agreement. International Education Programs Act - Amends the Higher Education Act of 1965 to direct the Secretary of Education to make grants to, and contracts with, institutions of higher education to pay the Federal share of the cost of programs designed to promote linkages between such institutions and the American business community engaged in international economic activities. Requires higher education institutions to apply for such grants and contracts. Limits the amount of Federal assistance. Provides for an advisory board to consider the grants made, or contracts entered into, and to review programs established under this section. Directs each Federal agency and U.S. representative to any international organization to: (1) identify programs affecting the export of U.S. firms' services; (2) make available information concerning such programs; (3) establish programs to publicize export-related programs for services; and (4) modify those programs with an adverse effect on the export of services. Makes the Secretary of Commerce responsible for coordinating such programs. Directs the Department of Treasury to report to Congress concerning the feasibility of extending DISC treatment to the export of services. Title VII: Agricultural Exports - Amends the Commodity Credit Corporation Charter Act to establish the Agricultural Export Credit Revolving Fund to be available for: (1) the export of, or aid in the development of foreign markets for, agricultural commodities; and (2) loans for the acquisition of facilities in foreign countries to improve the countries' capacities to handle agri-commodities exported from the United States. Directs the Secretary of Agriculture to report to Congress annually concerning the export credit sales program. Abolishes such fund effective October 1, 1983. Amends the Export-Import Bank Act of 1945 to require the ratio of credit extended by the Export-Import Bank for agricultural exports in comparison with the total amount extended be at least equivalent to the value of agricultural exports in comparison with total value of exports. Specifies exceptions to this requirement. Requests the President to take action to establish an International Wheat Exporting Commission which would establish an annual minimum world market price for wheat and prescribe export quotas. Requires the President to keep Congress informed about the establishment of such Commission and to report annually once such Commission is established. Title VIII: International Agreements - Expresses the sense of Congress that: (1) the multilateral trade agreement be strongly implemented; and (2) the efforts must continue to secure a freer world trading environment. Directs the Secretary of Agriculture to implement a special export subsidy program for agricultural commodities to neutralize the effects of foreign export subsidy programs. Specifies the circumstances required before such program may be implemented. Expresses the sense of Congress that the President should enter negotiations for international codes of: (1) official export financing; (2) business conduct; (3) reciprocity of antitrust enforcement; and (4) fair trade in services. Requires the President to report to Congress concerning the progress of such negotiations. Title IX: Government Support of Export Goals - Overseas Private Investment Corporation Act of 1980 - Establishes the Overseas Private Investment Corporation (OPIC) as an independent agency. Sets forth the duties of OPIC. Provides for the capital of OPIC to be paid in through the appropriation process and through transfer from OPIC's earned income. Sets forth the structure of OPIC with a Board of Directors, a President of the Corporation, an Executive Vice President of the Corporation, other officers and staff, and consultants. Authorizes OPIC to issue insurance to eligible investors covering new or existing investments protecting against specified risks. Authorizes OPIC to make arrangements with foreign governments or multilateral organizations for sharing liabilities. Limits the insurance that may be issued to a single investor. Authorizes OPIC to issue guarantees of loans and other investments. Sets forth limitations on such guarantees. Authorizes OPIC to make direct loans to privately owned or mixed publicly and privately owned firms for projects sponsored by or significantly involving United States small businesses or cooperatives. Limits the circumstances under which OPIC may acquire stock in any other corporation. Authorizes OPIC to initiate and support the identification, assessment, and promotion of private investment opportunities, with specified exceptions. Authorizes OPIC to administer special projects to provide private technical, professional, or managerial assistance in the development of human resources, skills, technology, capital savings, and intermediate financial institutions and cooperatives. Authorizes OPIC to engage in other insurance, reinsurance, and risk sharing activities with other insurance companies, financial institutions, persons, or groups. Limits the amount of reinsurance of liabilities which OPIC may issue. Limits the amount of maximum contingent liability pursuant to insurance or guarantees issued under this Act which may be outstanding at any one time. Establishes the: (1) Direct Investment Fund as a revolving fund to be available for direct investments; and (2) Insurance Reserve and Guaranty Reserve to be available for discharging liabilities. Authorizes appropriations to the investment and guaranty fund in specified circumstances. Authorizes OPIC to issue obligations in specified circumstances in order to discharge liabilities. Requires that all revenues and income transferred to or earned by OPIC be available to carry out OPIC's purposes. Directs OPIC to determine that suitable arrangements exist for protecting OPIC's interests in connection with any insurance, guaranty, or reinsurance issued under this Act. Pledges the full faith and credit of the United States for the full payment and performance of previous obligations. Sets forth conditions with respect to insurance, guaranty, and reinsurance coverage under this Act concerning fees, time limits, fraud, and settlement of disputes. Sets forth administrative provisions and duties applicable to OPIC. Requires OPIC to undertake to broaden the participation of United States small business, cooperatives, and other small investors in the development of small private enterprise in less developed friendly countries or areas. Directs OPIC to report annually to Congress concerning its operations. Amends the Foreign Assistance Act of 1961 to define "eligible investor" in terms of this Act with respect to housing guarantees. Repeals provisions: (1) prohibiting the transfer of OPIC funds between accounts; (2) authorizing the President to deny assistance to any less developed country which fails to enter into an agreement to institute the investment guaranty program; and (3) establishing OPIC. Stipulates that nothing in this part shall be construed as terminating any of OPIC's statutory authority. Requires the President to submit to the appropriate congressional committees any necessary technical or conforming amendments. Declares that the potential for U.S. exports shall be a primary decisionmaking factor in considering which projects to include in U.S. foreign aid programs. Requires the Director of the International Development Cooperation Agency (IDCA) to transfer the functions of the Office of Reimbursable Development from the Agency for International Development to an independent functional status within the IDCA. Declares that the Office of Management and Budget should assure that adequate budget allocations are made available to carry out the programs prescribed in this Act. Declares that the Department of Justice should do what it can to facilitate procedures for exporters. Declares that the Small Business Administration should: (1) be aware of the benefits of export to small business development; and (2) use every opportunity to provide information and assistance to potential exporters. Declares that the U.S. ability to export coal, nuclear power fuels, and other energy materials in a reliable manner should be a key consideration. Directs congressional committees to include in their reports the effect of the bill or resolution on the international competitiveness of the United States. Creates a National Export Council to: (1) serve as a national advisory body on matters relating to United States export trade; (2) act as a liaison among the communities represented by its membership; and (3) provide advice on Federal plans and actions that affect export promotion and development policies which have an impact on those communities represented by its membership. Requires the Council to make an annual report to the President and the Congress on its activities. Authorizes the Secretary of Commerce to appoint commercial ministers, counselors, and attaches with the rank and privileges of other ministers, counselors, and attaches in U.S. embassies and consulates, to: (1) provide trade and commercial services; (2) engage in the promotion of U.S. exports; (3) file semiannual reports to the Secretary on market, industrial, and commodity conditions in their districts and on the implementation of multilateral and bilateral trade agreements; and (4) maintain current data on the commercial standing and capacity of foreign firms within their districts. Provides for domestic assignment, office logistics, allowances and benefits of such ministers, counselors, and attaches. Directs the Comptroller General to report to Congress with any recommendations concerning: (1) the organization of international trading and financing programs in the United States; (2) the effectiveness of foreign export promotion programs; and (3) the trade activities of specified Federal agencies. Expresses the sense of Congress that the appropriate congressional committees should review periodically the trade organization of the U.S. Government.
United States · United States Congress · 15 May 1980
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to prohibit the payment of disability insurance benefits to: (1) any individual for any month during which such individual is an inmate of a penal institution after being convicted of a crime or a facility for the criminally insane or other psychiatric facility after having been found (a) not guilty of a crime by reason of insanity or (b) mentally incompetent to stand trial; and (2) any individual otherwise entitled to benefits on the basis of the wages and income of such inmate for the same period.
United States · United States Congress · 15 May 1980
Title I: Export Trading Companies - Export Trading Company Act of 1980 - Directs the Secretary of Commerce to promote export trading companies and facilitate contacts between producers of exportable goods and export trading companies. Authorizes any banking organization to invest up to specified amounts in export trading companies upon notifying, but without obtaining the prior approval of, the appropriate Federal banking agency, if such investment does not cause an export trading company to become a subsidiary of such organization. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations with the prior approval of the appropriate Federal banking agency. Requires prior notification of such agencies in specified circumstances. Sets forth further limitations on export trading companies and investments by banking organizations. Specifies factors to be taken into consideration by the banking agencies. Permits such agencies to impose conditions in approving applications to invest in export trading companies. Requires such agencies to report to the appropriate congressional committees concerning implementation of this Act and any recommendations. Provides for judicial review of denial orders in the appropriate U.S. Court of Appeals. Sets forth the grounds for disapproval. Provides for remand for further consideration by the banking agency. Directs the Economic Development Administration and the Small Business Administration to give special weight to export-related benefits when considering applications for loans and guarantees by export trading companies. Directs the Export-Import Bank of the United States to provide loan guarantees to export trading companies or exporters to be secured by accounts receivable or inventories when adequate financing is not otherwise available and such guarantees will facilitate expansion of exports. Title II: Export Trade Associations - Export Trade Association Act of 1980 - Amends the Webb-Pomerene Act to exempt the export trade, export trade activities, and methods of operation of certified export trade associations and export trading companies from the antitrust laws. Delays the effectiveness of any certificate upon the notification of the Secretary of Commerce by the Attorney General or the Federal Trade Commission (FTC) of disagreement with the decision to issue a certificate. Sets forth the procedure to be followed by any association, company, or export trading company seeking certification under this Act and by the Secretary in issuing such certificates. Provides for appeal of the Secretary's denial of certification. Authorizes the Attorney General or the FTC to bring an action to invalidate a certification. Requires the Secretary, in consultation with the Attorney General and the FTC, to publish guidelines for determining whether an association or export trading company will meet the certification requirements. Requires certified associations and export trading companies to submit annual reports to the Secretary. Directs the Secretary to establish within the Department of Commerce an office to promote export trade associations and trading companies. Provides for automatic certification of existing associations. Requires that all applications for certification be kept confidential with specified exceptions. Authorizes the Secretary to require an association or trading company to modify its operation to be consistent with international obligations of the United States. Directs the President to appoint, with the Senate's advice and consent, a task force seven years after enactment to examine the effect of this Act and to make recommendations. Title III: Taxation of Export Trading Companies - Amends the Internal Revenue Code of 1954 to make banking organizations which have invested in an export trading company eligible for treatment as domestic international sales corporations (DISC). Includes the gross receipts from the export of services produced in the United States and from export trade services as qualified export receipts, in the case of a DISC which is an export trading company. Directs the Secretary of Commerce, with the Secretary of the Treasury, to develop and distribute information concerning the utilization of the DISC provisions. Amends the Internal Revenue Code of 1954 to make export trading companies eligible for Subchapter S treatment if the shareholders of such companies are otherwise small business corporations. Exempts such companies from restrictions on the amount of foreign income they can receive and still be eligible for Subchapter S tax treatment.
United States · United States Congress · 15 May 1980
Declares that continued insensitivity to the statutory requirements for nominees to the Federal Reserve Board shall not be overlooked by the Senate Committee on Banking, Housing and Urban Affairs or by the U.S. Senate.
United States · United States Congress · 14 May 1980
Amends the Powerplant and Industrial Fuel Use Act of 1978 to limit the amount of all State and local severance taxes or fees on coal mined on Indian or Federal lands and shipped in interstate commerce to any powerplant or major fuel-burning installation or on improvements or other rights, property, or assets connected with the production of such coal. States that such tax shall not exceed a total of 12 1/2 percent of the value of such coal produced during a fiscal year.
United States · United States Congress · 8 May 1980
Amends the State and Local Fiscal Assistance Act of 1972 to authorize appropriations to the State and Local Government Fiscal Assistance Trust Fund for the entitlement periods of each of fiscal years 1981 through 1985. Reduces by one-third the funds authorized to be provided for such entitlement periods. Directs the Secretary of the Treasury to establish within the Trust Fund a State government account and a local government account for entitlement periods beginning after September 30, 1980. Declares that the State account shall receive only funds transferred from categorical grant programs. Prohibits the amount credited to the State account for a specific State for any entitlement period from exceeding one-half the amount credited to the local government account for all local governments within such State for that period. Declares that the amount a State government is entitled to receive from the Trust Fund for any entitlement period beginning after September 30, 1980, shall not exceed the amount of the categorical grant funding reduction elected by that State for that entitlement period. Sets forth the procedures for the designation, by the chief executive officer of a State, of the categorical grant programs under such State's allotments which are to be transferred to the State account of the Trust Fund. Requires a majority of the chief executive officers of States involved in a single project under a program to designate the transfer of funds for such program before such transfer may occur. Directs the Secretary to transfer any such designated program funds to the State government account. Declares that such a transfer of funds allotted to a State under a program shall constitute a payment to that State for purposes of provisions of law providing for the reallotment of amounts not paid under the program to a State.
United States · United States Congress · 6 May 1980
Declares that it is the sense of the Congress that the enactment of a withholding tax on interest and dividend payments would be detrimental to the economic well-being of the United States.
United States · United States Congress · 1 May 1980
Extends the condolences of the Senate to the families of the eight American servicemen who lost their lives during the mission to rescue the hostages in Iran. Declares the sense of the Senate that the President order the American flag to be flown at half-mast on all government grounds from May 4 through May 11, 1980, as a mark of respect for such servicemen.
United States · United States Congress · 22 April 1980
Veterans' Education Assistance Act of 1980 - Establishes a Peacetime Veterans' Educational Assistance Program for persons who enter military service after September 30, 1980, and serve on active duty for a period of two years or more, or are discharged or released from such duty for a service-connected disability. Entitles eligible veterans to 36 months of educational assistance under such program. Makes such veterans eligible to participate in the Predischarge Education Program and eligible for education loans. Provides that such veterans are eligible for educational assistance for the ten-year period following their discharge or release date. Sets forth procedures extending any applicable time period for such veterans who are prevented from initiating or completing a program of education under certain circumstances. Directs the Administrator of Veterans' Affairs to pay tuition costs and a subsistence allowance to eligible veterans in the program. Makes technical and conforming amendments to existing laws relating to veterans educational assistance. Terminates the Post-Vietnam Era Veterans' Educational Assistance program after September 30, 1982.
United States · United States Congress · 16 April 1980
Amends the Occupational Safety and Health Act of 1970 to provide that a small business employer who successfully contests a citation or penalty shall be awarded a reasonable attorney's fee and other reasonable litigation costs. Authorizes the Occupational Safety and Health Review Commission (in the case of a hearing) or the appropriate court (in the case of a civil action) to deny such awards upon a finding that the position of the Secretary of Labor or of the United States as a party to the proceeding was substantially justified or that special circumstances make an award unjust. Authorizes the Commission or the court to reduce or deny such awards to the extent that the employer during the course of the proceedings engaged in conduct which unduly and unreasonably protracted the final resolution of the matter in controversy. Directs the Commission to establish procedural rules for submission and consideration of applications for such awards. Permits dissatisfied parties to petition for leave to appeal to the appropriate court to review the merits of the Commission's determination with respect to such awards. Prohibits any appeal from the court's denial of such a petition. Allows the court, if a petition is granted, to modify the Commission's determination only upon finding an abuse of discretion. Directs the Secretary to pay such awards from sums appropriated to the Occupational Safety and Health Administration. Prohibits the appropriation of any sums to the Administration specifically for the purpose of paying such awards. Directs the Secretary to report annually to the Congress on the number, nature and amount of such awards during the preceding fiscal year.
United States · United States Congress · 15 April 1980
Directs the President to utilize the forum of the Venice Economic Summit to urge the development of an International Code of Business Conduct. Expresses the sense of Congress that the President should negotiate and report to Congress concerning agreements to establish standards of ethical and equitable conduct of international business and mechanisms to resolve problems. Requires the Joint Economic Committee to report to Congress concerning its recommendations regarding such negotiations.
United States · United States Congress · 2 April 1980
Amends the Internal Revenue Code to exempt a certain portion of royalty owner oil production from the windfall profit tax. Limits the amount so exempted per quarter to ten barrels per day. Requires proportionate allocation of any production in excess of ten barrels per day between tier 1 oil and tier 2 oil, and within any tier on the basis of removal prices. Requires allocation of the ten barrel amount among royalty owners who are members of the same related group.
United States · United States Congress · 28 March 1980
Uniformed Services Health Professionals Special Pay Act of 1980 - Provides special and additional pay for physicians in the Armed Forces or the Public Health Service who are on active duty for a period of not less than one year. Sets forth a schedule for such special pay providing that: (1) physicians below pay grade 0-7 are to receive between $1,200 and $10,000 per year based on years of creditable service; and (2) physicians above pay grade 0-6 are to receive $1,000 per year. Entitles a physician eligible for special pay to an additional $10,000 annual payment for any 12 month period during which he or she is not undergoing medical internship or initial residency training, based on years of creditable service, upon the execution of a written agreement under which the officer agrees to remain on active duty for at least one year. Authorizes additional special pay (from $2,000 to $5,000 based on years of creditable service) for those physicians eligible for special pay who are board certified (under regulations prescribed by this Act). Allows a qualified medical officer an incentive special pay not to exceed $8,000 for any 12 month period during which the officer is not undergoing medical internship or initial residency training. Limits the amount paid in special pay in any fiscal year to an amount equal to six percent of the total amount paid in such year for special pay. States that such a physician must agree in writing to remain on active duty for a period of not less than one year beginning on the date the officer accepts the award of such special pay. Permits the Secretary of Defense, or the Secretary of the military department concerned, to terminate at any time any officer's entitlement to special pay. Includes, in the computation of creditable service: (1) all periods which the officer spent in medical internship or residency training during which the officer was not on active duty; and (2) all periods of active service in the Medical Corps of the Army or Navy, as medical officer of the Air Force, or as a Public Health Service medical officer. Entitles a medical officer of the Public Health Service who is on active duty for a period of at least one year to special pay at specified rates. Provides for special pay for dentists, optometrists, and veterinarians. Prohibits the amount of special pay to which an officer is entitled to be included in computing the amount of any increase in pay, retirement pay, severance pay, or readjustment pay.
United States · United States Congress · 27 March 1980
Expresses the sense of the Senate that Members of Congress should request their States, constituents, and the Bureau of the Census to encourage older people to participate as census workers in the taking of the 1980 Decennial Census.
United States · United States Congress · 19 March 1980
American Sovereignty Protection Act - Amends the Alien Enemies Acts to include within the definition of a predatory act against the United States; (1) the seizure of a diplomatic mission; or (2) the seizure of such premises together with the taking of diplomatic hostages.
United States · United States Congress · 19 March 1980
Amends the Internal Revenue Code to exclude from gross income of an individual any benefits paid under title II (Old Age, Survivors, and Disability Insurance) of the Social Security Act.
United States · United States Congress · 12 March 1980
Expresses the sense of the Senate that Members of Congress should request their States, constituents, and the Bureau of the Census to encourage older Americans to participate as census workers in the taking of the 1980 decennial census.
United States · United States Congress · 6 March 1980
Amends the Internal Revenue Code with respect to the exceptions for certain lending or finance businesses from the definition of a personal holding company. Revises the existing formula to increase the overall percentage of deductions directly allocable to a finance business in order to qualify it for exclusion from such definition. Increases from 60 months to 144 months the limitations on the maturity of commercial paper and loans dealt in or made by a qualifying finance business. Excepts from the computation of average maturities all open end credit transactions (revolving credit).
United States · United States Congress · 5 March 1980
Directs the Secretary of the Army, with respect to the Army National Guard, and the Secretary of the Air Force, with respect to the Air National Guard, to prescribe regulations for the accounting of property issued to the Guard and the fixing of responsibility for that property. Provides that individual members of the Guard may be held liable for lost, damaged, or destroyed property if under similar circumstances active service personnel would be so liable. Stipulates that such liability shall be taken out of pay unless cancelled by the respective Secretary. Provides that a State, or territory (including the District of Columbia, Puerto Rico, and the Canal Zone) may be held liable for property lost, damaged, or destroyed incident to such jurisdictions' authorized use. Stipulates that such liability shall be paid from non-Federal funds.
United States · United States Congress · 4 March 1980
Expresses the sense of the Senate that the first concurrent resolution on the budget for fiscal year 1981 reported by the Committee on the Budget shall limit budget outlays to 21 per cent of the gross national product.
United States · United States Congress · 26 February 1980
Authorizes and requests the President to issue a proclamation extending best wishes and expressing appreciation to Carl Vinson for his devotion to the United States.
United States · United States Congress · 26 February 1980
Congratulates the members of the 1980 U.S. Winter Olympic team, its coaches and officials for a job well done. Recognizes the International Olympic Committee, the U.S. Olympic Committee, the Lake Placid Olympic Organizing Committee and the people of the Lake Placid area for their successful efforts in organizing and producing the XIII Winter Olympic Games.
United States · United States Congress · 21 February 1980
Amends the Federal Election Campaign Act to include any loan, payment, or gift made for the purpose of participating or intervening in a political campaign for certain offices within the definition of a "contribution or expenditure" by a national bank, a corporation, or a labor organization for purposes of such Act and the Public Utility Holding Company Act. Allows a corporation or labor organization to establish and administer a separate contributory fund for political purposes provided that all contributions for or to the fund are made voluntarily and are unrelated to any fees required for membership or employment in such organization or corporation. Prohibits the payment of any costs of establishing or administering the fund from moneys obtained in any commercial transaction.
United States · United States Congress · 20 February 1980
Amends the Internal Revenue Code to: (1) eliminate the dollar maximums on the earned income exclusion for United States citizens working abroad who are bona fide residents of a foreign country; and (2) repeal the existing provisions allowing tax deductions for certain living expenses abroad.
United States · United States Congress · 6 February 1980
Amends the Emergency Agricultural Credit Adjustment Act of 1978 to raise from $4,000,000,000 to $6,000,000,000 the limit on the total principal balance outstanding at any time on loans insured or guaranteed under such Act. Extends the authority of the Secretary of Agriculture to make new contracts of insurance or guarantee under such Act until September 30, 1981.
United States · United States Congress · 4 February 1980
Rock Island Transition Act - Directs the Interstate Commerce Commission to continue directed service over specified lines of the Chicago, Rock Island and Pacific Railroad until April 2, 1980, or until such lines are sold. Directs the Commission to expedite proceedings involving the Rock Island. Requires the Commission to reach a final decision on specified proceedings involving a sale, transfer, or lease of any line of the Rock Island to a solvent carrier within a specified period. Directs the Secretary of Transportation to purchase redeemable preference shares or trustee certificates convertible to redeemable preference shares as necessary to facilitate the purchase of properties of the Rock Island by other railroads. Establishes a ceiling for the total par value of such shares which the Secretary may purchase. Exempts activities under this Act from the provisions of the National Environmental Policy Act.
United States · United States Congress · 22 January 1980
Authorizes the Secretary of Agriculture, without regard to whether producers of wheat, corn, and feed grains participated in the 1979 Federal program for such crops, to: (1) make nonrecourse loans available to such producers on their 1979 crops; and (2) make emergency loans to such producers, in conjunction with the Commodity Credit Corporation. Authorizes the Secretary to announce and carry out a cropland set-aside program for the 1980 crops of wheat, corn, and feed grains, upon determination that such action is in the public interest due of the suspension of grain exports to the Soviet Union. Authorizes the Secretary to modify and adjust such program.
United States · United States Congress · 20 December 1979
Amends the Commodity Credit Corporation Charter Act to establish in the Treasury an Agricultural Export Credit Revolving Fund to finance short-term export credit sales of agricultural commodities produced in the U.S. and to make loans for the construction or acquisition of facilities to improve the capacity of foreign countries to handle, market, process, store, or distribute such agricultural commodities. Requires that all sums received by the Commodity Credit Corporation from the liquidation of loans made to finance short-term export credit sales of such agricultural commodities be added to and become a part of such fund. Authorizes appropriations in specified amounts for fiscal years 1981 through 1983 to such fund. Directs the Secretary of Agriculture to report annually to Congress on the export credit sales program carried out by the Corporation in the last fiscal year. Abolishes such fund effective October 1, 1983. Requires that all unobligated money in such fund become a part of the miscellaneous receipts account of the Treasury.
United States · United States Congress · 20 December 1979
Expresses the Senate's support for efforts to win the freedom of the hostages in Iran. Calls upon all nations to join in cooperative efforts to restrict relations with Iran. Declares that: (1) any trial or public exploitation of the hostages would be viewed as added provocation; and (2) the American people will not be diverted from their determination that the hostages be freed.
United States · United States Congress · 19 December 1979
Occupational Safety and Health Improvements Act of 1980 - Amends the Occupational Safety and Health Act of 1970 to exempt employers who maintain workplaces which qualify as non-hazardous, according to specified standards, from inspections or investigations, with specified exceptions. Directs the Secretary of Labor to enter into agreements with State workers' compensation or other appropriate State agencies under which such State agency will submit an annual list of all employers having one or more reported occupational injuries resulting in two or more lost workdays during the preceding year. Requires employers wishing to claim qualification for such exemptions to file an affidavit with the Secretary relating to the safety records of their workplaces. Limits the type or the amount of penalties which may be assessed against employers who maintain an advisory safety committee and a regular consultation program. Requires employers who qualify for exemptions from inspections or limitations on penalties to maintain records to which the Secretary has access. Provides for review by the Occupational Safety and Health Review Commission and a U.S. court of appeals of rulings by the Secretary that workplaces do not qualify for exemptions from inspection or limitations on penalties. Prohibits considering consultant or committee reports or recommendations or employee assurances under this Act as evidence of a willful violation of such Act if the employer had a reasonable, good faith belief that the condition involved was not a violation. Prohibits specified liability claims against committees or consultants. Directs the Secretary to: (1) assist State agencies to make necessary procedural modifications; (2) report to Congress on State participation; (3) advise employers and employees of the provisions of this Act; (4) require inclusion of the provisions of this Act, or of similar provisions, for approval of State plans; (5) develop and implement other means to identify workplaces qualifying for exemption, as an alternative to the affidavit process; and (6) explore and report on other means to encourage voluntary self- initiative in workplaces to improve safety and health conditions. Authorizes the Secretary to make grants to State agencies to improve their administration of State workers' compensation programs. Authorizes appropriations in specified amounts through fiscal year 1985 for such purpose. Declares the effective date of this Act to be January 1, 1981.
United States · United States Congress · 15 December 1979
Calls upon all followers of Islam to prevail upon their brethren to: (1) release the American hostages held in Iran; and (2) until they are released, permit them to worship regularly in accordance with their religious faiths and meet with clergy of their faiths.
United States · United States Congress · 14 December 1979
Constitutional Amendment - Prohibits the adoption of any Federal budget in which expenditures exceed receipts unless approved by a rollcall vote of three-fifths of the Members of each House of Congress directed solely to that subject. Prohibits the Congress from passing and the President from signing any appropriation bill which would cause the total expenditures of the Federal Government to exceed its total receipts in any fiscal year. Permits the Congress to waive such provisions with respect to any single year in which a declaration of war is in effect. Prohibits any annual increase in the proportion of Federal receipts to the national income unless approved by a rollcall vote, directed solely to such purpose, of three-fifths of each House.
United States · United States Congress · 11 December 1979
Amends the Surface Mining Control and Reclamation Act of 1977 to include professional land surveyors within the class of individuals authorized by such Act to perform land surveys and prepare plans, maps, and cross-section maps as required by such Act for all surface mining and reclamation operations.
United States · United States Congress · 10 December 1979
Expresses the sense of Congress that the Soviet Union, Bulgaria, Yugoslavia, and Romania are urged: (1) to release certain political prisoners; and (2) to halt the incarceration and harassment of individuals contrary to the Helsinki Accords.
United States · United States Congress · 10 December 1979
Expresses the sense of Congress that the President should: (1) reaffirm U.S. commitment to the Helsinki Accords; (2) communicate to the Soviet Union U.S. disapproval of religious harassment of Christians in the Soviet Union and of the restrictions on such Christians' freedom to emigrate; and (3) advise the Soviet Union of U.S. expectation that the Soviet Union honor its commitments under the Helsinki Accords and under international law.
United States · United States Congress · 7 December 1979
Joint Export Marketing Assistance Act of 1979 - Directs the Secretary of Commerce to establish a program to promote export marketing activities for domestic industry. Authorizes the Secretary to enter into cooperative agreements with industrial corporations or groups of noncompeting corporations with limited exporting experience to develop foreign markets for their products. Requires the Secretary to direct specified market research for such projects to measure opportunities, determine the best methods, and indicate the prospects for success. Requires interested corporations to submit a proposal on the basis of such research incorporating specific marketing actions and a timetable for such actions for approval by the Secretary. Authorizes the Secretary to enter into agreements with those entities submitting approved proposals to share marketing costs for up to three years. Limits the Federal share of participation to 50 percent. Requires repayment of the Federal share within five years of the expiration of Federal participation.