United States · United States Congress · 7 August 1987
Radioactive Materials Transportation Act of 1987 - Directs the Secretary of Transportation to employ an additional 20 safety inspectors above the aggregate number authorized for FY 1988 for certain Federal agencies, in order to promote radioactive materials transportation safety in cooperation with safety inspectors of the Nuclear Regulatory Commission and State and local governmental officials. Allocates such safety inspectors to the Research and Special Programs Administration, the Federal Railroad Administration, and the Federal Highway Administration. Amends the Hazardous Materials Transportation Act to subject to a civil penalty any persons who commit violations of such Act (currently such persons must knowingly commit violations). Establishes a minimum civil penalty for violations of such Act or of its regulations. Authorizes appropriations.
United States · United States Congress · 7 August 1987
Designates the week of May 2 through May 8, 1988, as National Drinking Water Week to enhance awareness of drinking water issues and recognition of the difference that drinking water makes to health, safety, and quality of life.
United States · United States Congress · 6 August 1987
Federal Aviation Administration Independent Establishment Act of 1987 - Establishes the Federal Aviation Administration as an independent Federal agency to succeed the Federal Aviation Administration of the Department of Transportation. Transfers to such independent agency all functions vested in the Federal Aviation Administration currently in the Department of Transportation, and all functions vested in such Department which are administered through the Federal Aviation Administration or are related to it. Authorizes appropriations.
United States · United States Congress · 30 July 1987
Amends rule XXV of the Standing Rules of the Senate to revise current committee structure by designating the following standing committees of the Senate: (1) National Priorities; (2) Agricultural Policy; (3) Defense Policy; (4) Commercial Policy; (5) Economic Policy; (6) Energy Policy; (7) Environmental Policy; (8) Foreign Policy; (9) Governmental Policy; (10) Judicial Policy; (11) Social Policy; (12) Native American Programs; (13) Senior American Programs; (14) Veteran American Programs; and (15) Entrepreneurial American Programs. Maintains the committees on Rules, Ethics, and Intelligence. Sets forth procedures for making committee assignments. Provides that each standing committee shall be responsible for appropriations legislation.
United States · United States Congress · 24 July 1987
Amends title XVIII (Medicare) of the Social Security Act to consider the aggregate number of resident workers who commute from the county in which a hospital is located to contiguous metropolitan statistical areas, rather than only considering the number of workers commuting to a single metropolitan area, for the purpose of determining whether such hospital should be paid at urban rather than rural rates.
United States · United States Congress · 22 July 1987
Federal Capital Budget Act of 1987 - Requires the budget submitted by the President to be a unified budget composed of a separate capital budget (representing only the major activities, projects, and programs which support the acquisition, construction, and rehabilitation of capital assets) and a separate operating budget (representing all other activities, projects, and programs). Sets forth informational requirements with respect to the unified budget. Requires the Comptroller General to review implementation of this Act and to report to the Congress on the appropriateness of the $500,000 threshold for classifying items under the capital budget section of the unified budget.
United States · United States Congress · 22 July 1987
Recognizes the importance of the agricultural export enhancement program established under the Food Security Act of 1985. Expresses the sense of the Congress that the Secretary of Agriculture should assure that sufficient FY 1987 through 1990 funding be available for such program.
United States · United States Congress · 22 July 1987
Expresses the sense of the Congress that the President should instruct the Permanent Representative of the United States to the United Nations to urge the Secretary General and Security Council to: (1) permit nonbelligerent ships in the Persian Gulf to fly the United Nations flag if such ships submit to inspection by United Nations observers to guarantee that no war material is being carried; (2) authorize United Nations peacekeeping vessels to escort such ships; and (3) determine what enforcement action should be taken in the event of an attack on ships under the United Nations flag. States that any such escort vessels and their crews should be provided by countries other than the Soviet Union and the United States.
United States · United States Congress · 21 July 1987
Methanol and Alternative Fuels Promotion Act of 1987 - Amends the Motor Vehicle Information and Cost Savings Act to authorize the Secretary of Transportation to revise the dual fuel passenger automobile driving range for automobiles operating on certain ethanol or methanol mixtures. Provides that for any ten consecutive model years between 1993 and 2005, a dual fuel passenger automobile manufacturer shall receive an average fuel economy increase according to specified guidelines. Declares that if a manufacturer makes methanol- or ethanol-powered or dual fuel passenger automobiles, the fuel economy of an automobile shall be based on the fuel content of the methanol or ethanol mixture used to operate it. Directs the Secretary to report annually to the Congress regarding ethanol and methanol promotion. Amends the Internal Revenue Code to declare that the determination of tax to be imposed regarding methanol-, ethanol-, or natural gas-powered or dual fuel passenger automobiles shall be based on the fuel economy rating established under the Motor Vehicle Information and Cost Savings Act.
United States · United States Congress · 15 July 1987
Designates the week beginning November 15, 1987, as African American Education Week. Authorizes and requests the President to issue a proclamation calling upon: (1) the Department of Education and State and local governments to support activities observing such week; (2) schools and communities with African Americans to demonstrate their commitment to the education of African Americans; and (3) community organizations to intensify their support of academic excellence by African Americans.
United States · United States Congress · 10 July 1987
Agricultural Producer and Farm Credit System Borrower Act of 1987 - Title I: Farm Credit System Liability and Insurance - Amends the Farm Credit Act of 1971 to provide that after December 31, 1992: (1) each Farm Credit System (FCS) institution shall be individually liable for its notes and other obligations; and (2) FCS institutions will no longer be jointly and severally liable. Establishes a Farm Credit System Insurance Corporation (Corporation) which shall insure the full payment of FCS institution interest and principal. States that the Farm Credit Reserve Fund Board (established by this Act) shall act as the Corporation's board of directors until its termination, upon which the Farm Credit Administration Board shall assume such duties. Sets forth Corporation powers. Prohibits an FCS institution from joining with other institutions in issuing consolidated obligations payable after December 31, 1992, unless it is insured by the Corporation. Funds the Corporation through institution insurance premiums and stock sales. Directs the Corporation to set uniform premium levels. Authorizes the Corporation, pursuant to enumerated conditions, to terminate an institution's insured status for uncorrected status or operations violations. Directs the Corporation to maintain a general reserve, and after the Reserve Board's termination, permits it to supplement such reserve through the issuance of federally-guaranteed bonds and other obligations. Caps such obligations at $1,000,000,000. Stipulates that such supplemental reserves may only be used for insurance purposes. Requires institutions to maintain adequate capital. Directs the Farm Credit Administration (FCA) to periodically consult with the Corporation regarding capitalization levels. Provides that the Corporation shall serve as a receiver for an insured institution in receivership. Sets forth related provisions. Sets forth Corporation fund provisions, including investment provisions. Authorizes the Corporation to make loans to, or purchase the assets of, an institution if the Board determines such action is necessary to reopen a closed institution or prevent the failure of an operating institution. Title II: Financial Assistance-Subtitle A: Farm Credit Reserve Fund and Financial Assistance - Amends the Farm Credit Act of 1971 to establish a Farm Credit Reserve Fund Board to temporarily administer Federal assistance to FCS institutions and oversee the loan restructuring process. Grants emergency powers through 1989 to the Board to permit it to manage financially-troubled institutions. Requires an annual report to the Congress. Establishes a Farm Credit Reserve Fund which shall be available to the Board to carry out its operations. Funds such Fund through: (1) guaranteed debt obligations; (2) assessments; (3) Capital Corporation asset transfers; (4) revolving fund transfers; (5) Farmers Home Administration (FmHA) land assets transfers; and (6) appropriated funds. (Provides initial funding through institution assessments.) Requires: (1) each FCS district to establish a special credit unit to review and make final disposition of all nonaccrual and high risk loans held by institutions within its district; and (2) each unit to develop a loan disposition plan which emphasizes the importance of keeping farmers on their land through deferrals and restructuring. Subtitle B: Termination of Capital Corporation and Reserve Fund - Directs FCA to terminate the Farm Credit System Capital Corporation: (1) 90 days after enactment of this Act; or (2) earlier, upon the recommendation of the Board of Directors of such Corporation. States that the Farm Credit Reserve Fund Board shall succeed to the Capital Corporation's rights, assets, and obligations. Title III: Stock Protection and Capitalization - Amends the Farm Credit Act of 1971 to require that through December 31, 1992, retired institution stock shall be redeemed at par value in interest-bearing notes, unless the borrower requests a cash payment. Provides for post-1992 payment only in cash. Requires institutions to adopt a capitalization plan that meets FCA minimum requirements and is based on generally accepted accounting principles. Title IV: Structural Changes in the Farm Credit System - Subtitle A: Mergers of Farm Credit System Institutions - Amends the Farm Credit Act of 1971 to make FCS structural changes regarding: (1) the merger of banks within a district; (2) the merger of like banks in different districts; (3) transfers by production credit associations to banks; (4) transfers by Federal land banks to Federal land bank associations; (5) the merger of associations into banks; (6) the merger of like and unlike associations; (7) institutional termination and dissolution; (8) the merger of service organizations; (9) prior approval of information disclosure and issuance of charters; and (10) the taxation (or exemption) of merged banks and associations. Requires the establishment of a FCS-wide finance committee. Subtitle B: General Provisions - Authorizes a Federal land bank association or production credit association to have on its board of directors a person who is not otherwise connected with FCS institutions. Authorizes such associations to borrow and lend money without the supervision or assistance of a Federal land bank. Authorizes an FCS institution to operate outside its normal service territory. Subtitle C: Effective Date - Makes this title effective 30 days after enactment of this Act. Title V: Agricultural Mortgage Secondary Market - Amends the Farm Credit Act of 1971 to establish a federally-chartered Federal Agricultural Mortgage Corporation to: (1) develop uniform underwriting, security appraisal, and repayment standards for qualified loans; (2) determine the eligibility of agricultural mortgage marketing facilities for credit enhancement of specific mortgage pools; and (3) provide credit enhancement for the repayment of qualified loan pool principal and interest. Sets forth provisions regarding: (1) the temporary and permanent boards of directors; (2) powers and duties; (3) capitalization through stock issuances; (4) agricultural mortgage marketing facilities' certification; (5) credit enhancement of qualified loans and the establishment of uniform underwriting, security appraisal, and repayment standards. Authorizes the Mortgage Corporation to charge fees to cover operating and credit enhancement expenses. Title VI: Export Financing and OFI Authorities - Amends the Farm Credit Act of 1971 to make permanent: (1) Federal intermediate credit banks' lending authority; and (2) cooperative banks' authority to finance certain import and export transactions. Authorizes Federal land banks to make loans and provide related financial assistance to other financing institutions. Title VII: Disposition of Acquired Property - Amends the Farm Credit Act of 1971 to express the sense of the Congress that FCS institutions: (1) should sell foreclosure-acquired property unless such sale would have a detrimental effect on farm land value; and (2) should try to make such sales to local people.
United States · United States Congress · 10 July 1987
Air Passenger Protection Act of 1987 - Amends the Federal Aviation Act of 1958 to direct the Secretary of Transportation to: (1) promulgate regulations requiring air carriers to submit to the Secretary on a monthly basis certain information regarding scheduled domestic air transportation; (2) publish such information in the Federal Register and in monthly public reports; (3) amend regulations regarding computerized airline reservation systems to require that specified flight times and related data be made available to the public; (4) promulgate regulations establishing certain uniform air carrier practices; (5) establish a 24-hour toll-free airline consumer hotline; and (6) establish an Advisory Committee to report to the Secretary and the Congress regarding the appropriate level of capacity in the air traffic control system.
United States · United States Congress · 10 July 1987
Expresses the sense of the Senate that: (1) the President should continue to make clear the support of the United States for the Haitian people's efforts to establish a democracy; (2) Haiti's National Council of Government should respect and abide by decisions made by the Provisional Election Council in conducting elections called for under the new Haitian constitution; (3) the Haitian armed forces should respect human rights and exercise restraint in carrying out their duties; and (4) all Haitians need to work to avoid further violence and allow the democratic transition to proceed in a peaceful atmosphere.
United States · United States Congress · 8 July 1987
Expresses the sense of the Congress that the U.S. Government should not provide any support for military or paramilitary operations in Angola until the President has informed the Congress and the public that such support is important to the national security and the Congress has approved such support. Authorizes any U.S. agency, during FY 1987 and 1988, to use its funds to conduct military or paramilitary operations in Angola or to provide aid to any group engaged in such operations only if such use of such funds is the openly acknowledged U.S. policy. Provides that such policy is considered openly acknowledged only if: (1) the President determines that U.S. support for such operations is important to national security and requests the Congress to approve support for such operations; and (2) the Congress enacts a joint resolution approving support for such operations.
United States · United States Congress · 26 June 1987
Quality Control Amendments of 1987 - Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to extend the moratorium on the reduction of payments to States for high erroneous payment rates under part A (Aid to Families with Dependent Children) of title IV of the Social Security Act through FY 1988. (Currently, such moratorium is set to expire at the close of June 1988.) Includes payments to States under title XIX (Medicaid) of the Act within such moratorium. Amends the Food Security Act of 1985 to place a moratorium on penalties for high erroneous payment rates under the Food Stamp program through FY 1988.
United States · United States Congress · 26 June 1987
Declares that the American people reaffirm their commitment to promoting the development of democracy in all the Americas. Expresses the sense of the Senate that: (1) the Government of Panama should respond to the points contained in the communique issued on June 17, 1987, by the Panamanian Episcopal Conference; (2) the vital interests of the United States in securing authentic democracy in Panama would be best served by the peaceful establishment of genuine democratic institutions in accordance with the Panamanian constitution; (3) compliance with internationally recognized human rights and the lifting of the suspension of constitutional guarantees are essential preconditions to the restoration of democracy in Panama; (4) an independent investigation into allegations against senior Panamanian civilian and military officials should be conducted by an objective group of Panamanians with authority to publish their findings without delay or fear of reprisal; and (5) the Government of Panama should direct the current commander of the Panama Defense Forces and any other implicated officials to relinquish their duties pending the outcome of the independent investigation.
United States · United States Congress · 25 June 1987
Expresses the sense of the Congress that the President should: (1) encourage and assist Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua in their planning and formulation of a comprehensive plan for their economic recovery and development; and (2) assist in the implementation of such plan and encourage other countries to join in extending such assistance to those Central American countries that have made substantial progress toward peaceful relations and peacekeeping mechanisms in their region and toward an open political system in the spirit of the present negotiations of those countries.
United States · United States Congress · 23 June 1987
Rural Recovery and Revitalization Act - Title I: Rural Development Program and Authority-Subtitle A: Rural Development Authority - Directs the Secretary of Agriculture (Secretary) to establish and maintain a revitalized nationwide rural development program as set forth in the Rural Development Act of 1972, the Rural Development Policy Act of 1980, and this Act. Establishes in the Department of Agriculture a Rural Development Authority (Authority) headed by an Assistant Secretary appointed by the Secretary, with the advice and consent of the Senate. Directs the Secretary to: (1) transfer to the Authority those agencies, offices, or entities in the Department that perform rural development functions, including certain loan programs currently administered by the Farmers Home Administration; (2) establish in the Authority units to perform the various categories of transferred functions, such as rural housing, research, and public affairs; and (3) report to specified congressional leadership within one year with respect to transfers made or to be made Directs the Comptroller General to investigate and report to the President and to the Congress within one year about services, functions, and missions of other Federal departments and agencies that could be transferred to the Authority. Subtitle B: Rural Development Assistance - Directs the Secretary to consolidate and coordinate, under the Authority, all rural development and assistance programs established by the Consolidated Farm and Rural Development Act, related programs administered by the Secretary, and, to the extent feasible, rural-oriented programs administered by other agencies. Amends the Consolidated Farm and Rural Development Act to: (1) remove the Secretary's authority to grant up to $15,000,000 annually for certain rural development technical assistance, rural community leadership development, and rural development planning projects; and (2) direct the Assistant Secretary of the Authority, under the rural industrialization assistance program, to provide matching grants to States and loan guarantees to State-designated recipients to fund these same rural development interests, and to develop plans designed to encourage the growth of private business enterprises in rural areas. Directs the Secretary to establish within the Commodity Credit Corporation (CCC) a Rural Fund for Development account, to be administered by the Assistant Secretary, to guarantee loans made to finance rural development projects. Instructs the CCC to make available to this fund at least $1,100,000,000 in either commodities or cash. Authorizes the Assistant Secretary to enter into agreements with State and private entities to guarantee loans for such rural development projects as the start-up costs of small businesses, plan construction, and equipment purchases. Describes the limitations on the amounts of such loans and the procedures applicable if a borrower defaults. Directs the Assistant Secretary to report annually to specified Congressional leadership concerning the loan program. Amends the Food Security Act of 1985 to: (1) extend through FY 1990 guarantees by the Secretary of loans to nonprofit national rural development and finance corporations; (2) revise the eligibility requirements for such loan guarantees; (3) earmark $50,000,000 of certain available funds for loan guarantees; and (4) authorize FY 1987 through 1990 appropriations. Directs the Assistant Secretary to use low quality grain from CCC inventories as collateral to guarantee loans under the subtitle to borrowers for the purpose of constructing or operating a grain processing facility. Title II: State Cooperative Agreements and Plans - Directs the Assistant Secretary to enter into cooperative agreements, based on comprehensive plans submitted by the States, to: (1) enable the States to carry out laws and implement Federal rural development programs; (2) provide matching grants to the States; and (3) assist States in the development and administration of Federal programs that provide educational opportunities, job training, health services, and other specified benefits to rural residents. Permits the Secretary and other Federal agency heads to enter into agreements with State and local governments to provide educational training, job training, health services, and other benefits to rural residents. Directs the Assistant Secretary, in cooperation with the Secretary, to use the Cooperative State Extension Service to inform rural residents about such programs. Establishes in the National Agricultural Library the National Rural Assistance Information Clearinghouse to distribute information and data about Federal, State, and local programs. Title III: Rural Technology Development Centers - Amends the Consolidated Farms and Rural Development Act to direct the Secretary to conduct pilot projects in States or universities to enable them to establish and operate centers for rural technology development. Requires applicants to submit plans for such centers, which must: (1) be located in rural areas; (2) be designed to improve the economic condition of the area through projects to collect, test, and disseminate information on relevant new services and products; (3) consult with colleges or universities administering rural development and small farm research and education programs under the Rural Development Act of 1972; (4) take steps to develop continuing sources of financial support; and (5) provide for the maximum application of technology in those rural areas strongly affected by a depressed farm economy. Sets forth criteria to be met by pilot projects established under this title. Permits the Secretary to provide employment-related technical assistance to economically distressed rural areas. Directs the Secretary, for each of FY 1988 through 1990, to make grants of up to $500,000 per project to public, private, or cooperative organizations, to Indian tribes on reservations, other tribal groups, or individuals to assist rural entities in funding projects for the development of marketing plans to promote rural economic development. Enumerates criteria to guide the Secretary in determining grant recipients. Provides for the monitoring of projects funded under this program. Directs the Secretary to report the monitoring results to specified congressional committees. Authorizes appropriations. Title IV: Rural Dislocation Set-Aside Program - Sets aside ten percent of certain funds provided to the Secretary of Labor in each of FY 1988 through 1992, for programs providing basic readjustment services to dislocated farmers, ranchers, and farm workers. Directs the Secretary of Labor to notify the Governors of eligible States of the availability of such funds. Bases State eligibility on the extent of declining farm equity and the percentage increase in the average debt-to-asset ratio of farms. Sets forth criteria based on farm population for the allocation of funds to eligible States. Requires the Governor of each eligible State to submit a plan describing the readjustment services to be provided. Specifies required contents of the plan. Indicates potential recipients of services under the plan, including individuals whose farm or ranch operations have ended or are likely to end as a result of foreclosure, bankruptcy, or other unfavorable economic circumstances. Enumerates possible activities and services to be included in the State plan, such as counseling services, vocational evaluation, job search, and training assistance, and various support services (transportation, meals, temporary shelter, dependent care). Title V: Rural Set-Asides and Priority - Directs agency heads, in cases when funds are allocated to States according to a mandated formula, to take specified actions that would result in benefits to rural areas from Federal procurement and construction projects. Amends the Office of Federal Procurement Policy Act to require the heads of executive agencies to give equal consideration to rural areas when determining the location of new Federal buildings and activities related to their construction. Title VI: Special Assistant for Agriculture and Rural Development - Directs the President, within 180 days after enactment of this Act, to establish in the White House an Office of Agriculture and Rural Development to coordinate executive branch programs affecting rural areas. Provides that the Office shall be headed by a Special Assistant appointed by the President. Directs the Special Assistant to: (1) systematically review Federal programs affecting rural areas; (2) monitor activities and legislation affecting rural areas; and (3) assist in the full preparation of a comprehensive rural development strategy designed to maximize the effectiveness and increase the responsiveness of Federal programs to rural areas. Requires the Secretary, within one year after enactment of this Act, to transmit the rural development strategy to the congressional agriculture committees and to report annually to such committees on any changes to such strategy. Requires the Special Assistant to use the Office of the President to maximize coordination of Federal programs affecting rural areas. Title VII: Technical Provisions - Subtitle A: Administration - Provides for transfer of personnel to the Rural Development Authority from the Farmers Home Administration as may be necessary with respect to the functions transferred to the Authority. Sets forth other administrative details relevant to these functions transfers. Subtitle B: Conforming Amendments - Amends the Consolidated Farm and Rural Development Act, the Community Economic Development Act of 1981, and other Federal law to reflect the creation of the Rural Development Authority and the transfer of certain functions to it. Amends the Food Security Act of 1985 to continue the program of guaranteed loans and grants to nonprofit national rural development and finance corporations (Under current law, the program ended as of FY 1987). Title VIII: Implementation - Mandates that this Act be implemented not later than six months after its enactment.
United States · United States Congress · 19 June 1987
Expresses the sense of the Senate that: (1) it is in the best interests of U.S. wheat producers to immediately receive the details of the program for the 1988 crop of wheat established under the Agricultural Act of 1949; and (2) such program should provide for an acreage limitation program under which a farm's wheat acreage would be limited to the wheat crop acreage base for the farm reduced by no more than 27 1/2 percent.
United States · United States Congress · 18 June 1987
Deceptive Mailings Prevention Act of 1987 - Designates as nonmailable matter any private solicitation which is offered in terms expressing or implying that the offeror of the solicitation is, or is affiliated with, one of the following agencies: the Social Security Administration, the Health Care Financing Administration, the Office of Family Assistance of the Department of Health and Human Services, the Veterans Administration, the Office of Personnel Management, the Federal Retirement Thrift Board, or the Thrift Investment Management System, or any program carried out by such entities. Allows the mailing of such matter if it contains a conspicuous disclaimer that it is not affiliated with the Federal Government and that it is a private solicitation. Establishes penalties for violations of this Act.
United States · United States Congress · 16 June 1987
Fiscal Procedures Reform Act of 1987 - Amends the Congressional Budget and Impoundment Control Act of 1974 to revise the Federal and congressional budget processes by establishing a two-year budgeting and appropriation cycle. Defines a "two-year fiscal period" as the 24-month period beginning on October 1 of each odd-numbered year. Sets forth a revised timetable for a biennial budget. Requires the Congress: (1) by May 15 of each odd-numbered year, to complete action on the concurrent resolution on the budget for the two-year fiscal period; and (2) by September 30 of each odd-numbered year, to complete action on all appropriation bills for the two-year fiscal period. Requires the President, by the following January 15th, to submit any revisions the President may desire in such budget. Requires any legislation which authorizes enactment of new budget authority or provides a certain type of spending authority to be referred to the Committee on Appropriations of the House or Senate. Requires the Director of the Congressional Budget Office to issue six-year (rather than five-year) budget projections beginning each fiscal year. Terminates the Budget Committees of the House of Representatives and the Senate and transfers their functions to the respective Committees on Appropriations. Sets forth the jurisdiction, authority, and membership of the House and Senate Committees on Appropriations. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to repeal the sequestration mechanism. Repeals certain provisions respecting the statutory limit on the public debt.
United States · United States Congress · 5 June 1987
Expresses the sense of the Senate that: (1) the President should endorse the original position of the United States in ongoing international negotiations to protect the Earth's ozone layer; and (2) the United States should continue to seek an international agreement which will provide for an immediate freeze in the production of the major ozone depleting chemicals at 1986 levels, an automatic reduction of not less than 50 percent in the production of such chemicals, and the virtual elimination of such chemicals.
United States · United States Congress · 4 June 1987
Tender Offer Disclosure and Fairness Act of 1987 - Amends the Securities Exchange Act of 1934 to decrease from five percent to three percent the amount of securities acquired in a corporation which triggers disclosure requirements. Reduces from ten days to one day the time in which public disclosure must be filed with the Securities and Exchange Commission (Commission). Requires such disclosure to include: (1) the identity of all persons with whom the filing person had communications regarding such acquisition within 90 days prior to the acquisition; (2) the sources of financing used to make the acquisition; (3) a statement by the filing person as to whether the acquisition is for the purpose of investment or for the purpose of taking control of such corporation; and (4) an itemized statement of all fees and other expenses paid or incurred in connection with the acquisition. Prohibits any person required to file such a disclosure from acquiring any additional amount of securities until the disclosure has been filed with the Commission and an announcement has been publicly disseminated. Requires that any material changes in facts relating to a filing must be made by the end of the next business day following such change. (Present law requires such a change to be made promptly.) Includes within the definition of those required to file such disclosures any group of two or more persons acting in concert or in a coordinated or consciously parallel manner (whether or not pursuant to an express agreement). (Present law requires disclosure only from groups of persons acting as a partnership, limited partnership, syndicate, or other group.) Prohibits anyone who has disclosed that the purpose of the acquisition is investment from making any tender offer for additional shares of securities until six months after the filing of an amended disclosure statement indicating that the purpose is to obtain control of the corporation. Makes unlawful: (1) the making of any false statements of material fact or the omission of any material fact regarding any required disclosure statement; and (2) engaging in any fraudulent, deceptive, or manipulative acts or practices in connection with any required disclosure statement. Provides for a private right of action for damages and equitable relief by the issuer of securities for any intentional disclosure violations or for any violation of margin requirements in connection with tender offer financing. Requires any person making a tender offer for shares of securities of a corporation to keep such offer open for a minimum of at least 35 business days. Prohibits any person to acquire more than 15 percent of any of the shares of any class of securities in a corporation unless such acquisition is made pursuant to a tender offer. Allows the Commission to exempt any person or transaction from such prohibition to the extent that such exemption is necessary or appropriate in the public interest and for the protection of investors. Prohibits an issuer from: (1) buying back its securities at a price above the market value (Greenmail) from any person holding more than three percent of those securities if that person held the stock less than six months, unless the stock is purchased by a tender offer open to all shareholders or the repurchase is approved by a majority of the issuer's shareholders; (2) during the pendency of a tender offer, entering into agreements that increase the current or future compensation (except for a routine increase) of any officer or director (Golden Parachute payments); and (3) establishing any rights to acquire any securities, during the pendency of the tender offer, if such rights would permit such shareholders to purchase securities of an acquiring company or the issuer (Poison Pill defense). Prohibits any person from acting as a "tender offer arbitrageur" unless registered with the Commission. Defines a "tender offer arbitrageur" as any person who regularly buys and sells registered securities, for his or her own account or for the account of others, in response to, or in anticipation of, a merger, tender offer, recapitalization, restructuring, or other similar transaction. Amends the Employee Retirement Income Security Act (ERISA) to exempt from liability for breach of fiduciary duties any employee benefit plan trustees who decide in response to a tender offer not to tender securities which are held in trust by the benefit plan. Prohibits any part of the residual assets of a benefit plan from being used to finance, directly or indirectly, any acquisition of the securities of the employer pursuant to a tender offer including the repayment, redemption, or refinancing of any indebtedness incurred by such person in connection with any such acquisition. Increases the insider trading criminal penalties from a maximum of five years imprisonment or a $100,000 fine to a maximum of ten years imprisonment or a $1,000,000 fine. Requires a minimum criminal penalty of one year imprisonment for perjury or obstruction of justice in connection with an insider trading investigation. States that the Congress declares that the internal affairs or governance of corporations shall be subject to regulation by the laws of the State under which such corporation is organized.
United States · United States Congress · 4 June 1987
Federal Campaign Reform Act of 1987 - Amends the Federal Election Campaign Act of 1971 to increase the limit a person is allowed to contribute to any candidate and the candidate's authorized political committees with respect to any election to Federal office from $1,000 to $1,500. Decreases the amount a multicandidate political committee is allowed to make to a candidate and the candidate's authorized political committees from $5,000 to $2,500. Requires corporations, labor organizations, and each national committee of a political party to file a report with the Commission if such entities have engaged in any otherwise exempt activity during the period for which the report is filed. Describes "otherwise exempt activities" as those activities which are exempt from disclosure requirements and which include any act of furnishing or making available services, payments, or other benefits excluded from the definition of contribution or expenditure. Declares that any nonprofit corporation receiving reduced postal rates which uses the mails to engage in any otherwise exempt activity during the 90-day period prior to a general or special election shall be subject to a civil penalty. Establishes reporting requirements for persons making independent expenditures in U.S. Senate elections totaling more than $10,000, and thereafter each time such persons make independent expenditures totaling more than $5,000. Subjects to such reporting requirements the exempt activities of corporations and labor organizations. Sets forth disclosure requirements for independent expenditures through broadcast communications on any radio or television station. Provides that an expenditure is not an independent expenditure where the person making an expenditure is in coordination, consultation, or concert with a candidate. Requires a candidate, within 15 days of qualifying for a primary election ballot, to file with the Commission and each other qualifying candidate a declaration stating whether or not such candidate intends to expend funds and incur personal loans for the primary and general election in the aggregate of $250,000 or more from the following sources: (1) personal funds; (2) family funds; and (3) personal loans incurred in connection with the campaign for office. Allows the opponents of such candidate to accept larger contribution amounts from individuals. Requires a candidate who files a declaration of intent not to expend more than $250,000 and who subsequently does exceed such amount, to file an amended declaration within 24 hours after exceeding such amount. Allows a candidate to repay a personal loan in connection with the candidate's campaign from contributions made to such candidate or any authorized committee of such candidate. Prohibits the repayment of any interest on the principal amount of such loan. Prohibits a candidate from making expenditures from personal funds, family funds, or from incurring personal loans in connection with the election campaign at any time within 60 days before such election. Requires that solicited or accepted contributions made through a check or money order be made payable to a specific payee by the original drawer of the check or money order when such amounts will be combined and contributed to a candidate for Federal office. Requires semiannual reports by a party political committee with respect to payments to such committee to defray establishment, administration, and solicitation costs. Requires the national committee of a political party to include in specified reports all funds received and disbursements made for purposes other than to influence a Federal election (soft money). Expresses the sense of the Congress that there should be established a bipartisan commission on campaign financing to develop a means of campaign financing which: (1) promotes the availability of qualified candidates for congressional office; (2) permits candidates, irrespective of their personal financial resources, the opportunity to communicate effectively with the electorate; (3) protects the integrity of the legislative process; (4) promotes participation of political parties in the electoral and legislative process; and (5) promotes public confidence in both the electoral and legislative processes. Declares that such commission should consider and study Federal laws and regulations and public commentary relating to financing congressional election campaigns.
United States · United States Congress · 4 June 1987
Authorizes the States to raise the speed limit to 65 miles per hour on highways on the Interstate System which are located outside of an urbanized area of 50,000 population or more and which: (1) are constructed according to specified interstate standards; or (2) are divided four-lane fully controlled access highways designed to accommodate such speeds.
United States · United States Congress · 29 May 1987
Designates the week beginning October 18, 1987, as Financial Independence Week. Urges all citizens to pursue financial independence through sound planning and management of their individual resources.
United States · United States Congress · 27 May 1987
Amends the Federal Aviation Act of 1958 to mandate that air carriers' representations regarding domestic airline schedules reflect the average actual arrival time for such carrier. Directs the Secretary of Transportation to: (1) conduct an ongoing review of such air carriers' representations and compliance; and (2) assess fines for violations of such mandate.
United States · United States Congress · 21 May 1987
National Quality Improvement Act of 1987 - Amends the Stevenson-Wydler Technology Innovation Act of 1980 to establish a National Quality Award, to be evidenced by a medal. Directs the President (on the basis of recommendations received from the Secretary of Commerce) or the Secretary of Commerce to periodically make the award to companies and other organizations which have substantially benefited the economic or social well-being of the United States through improvements in the quality of their goods and services resulting from the effective practice of quality management. Sets forth categories in which the award may be given and qualification criteria. Directs the Secretary to appoint a board of overseers to make suggestions for improvements in the award process. Directs the Director of the National Bureau of Standards to provide information about the awards and about the successful quality improvement strategies and programs of the award winners to all participants and to other appropriate groups. Provides that funding for the award program shall be through gifts from public and private sources and fees imposed upon organizations applying for the award. Directs the Secretary to prepare and submit to the President and the Congress a report on the progress, findings, and conclusions of activities conducted with respect to the award, along with recommendations for possible modifications.
United States · United States Congress · 21 May 1987
Declares that the United States should continue to aggressively pursue an agreement on international conflicts in agricultural trade policies. Expresses the sense of the Senate that the President should make a resolution of agricultural issues a primary priority during the seven nation economic summit in June. States that the seven nations participating should work together to reduce global grain and other agricultural products supplies and eliminate agricultural export subsidies.
United States · United States Congress · 14 May 1987
Medicare Rural Health Services Transition Act of 1987 - Amends title XVIII (Medicare) of the Social Security Act to direct the Secretary of Health and Human Services to establish a program providing grants to small rural hospitals to assist such hospitals in modifying the type or extent of health care services they provide so that their services more closely approximate the changing needs of rural communities and are integrated with other community health care services. Requires rural hospitals wishing to participate in the program to submit an application specifying the nature of the hospital's proposed grant project and a timetable (of no more than two years) for its completion to the State Governor, who shall transmit it to the Secretary within 30 days with his or her comments on such application. Directs the Secretary to consider such comments, each project's objectives, and each project's effect in reducing expenditures under part A (Hospital Insurance) of the Medicare program in choosing among applicants for such grants. Sets forth reporting requirements. Authorizes appropriations for FY 1988 and 1989.
United States · United States Congress · 14 May 1987
Expresses the sense of the Congress commending the Department of Agriculture on its 125th anniversary. Authorizes and requests the President to issue a proclamation commemorating such event.
![Official portrait of Sen. Kassebaum, Nancy Landon [R-KS]](https://www.congress.gov/img/member/549ffd7cef829ff27fc294bb4a5e8c9a_200.jpg)