United States · United States Congress · 1 October 1981
Amends the Immigration and Nationality Act to give first or fourth visa preference (sons and daughters of U.S. citizens) to an alien who was fathered by a U.S. serviceman after 1950 in Korea, Taiwan, Vietnam, Laos, Japan, Thailand, or the Philippines. Requires a five-year financial support guarantee signed by a U.S. citizen or permanent resident sponsor. Allows the Attorney General to enforce such guarantee against the sponsor in a civil suit unless such sponsor dies or is adjudicated bankrupt.
United States · United States Congress · 1 October 1981
Directs the United States Postal Service to provide and sell a postage stamp issue to commemorate the two hundredth anniversary of the presence of the bald eagle on the official seal of the United States of America. Provides that such stamp shall be issued in the denomination applicable to first-class mail up to one ounce in weight. Directs that such stamp shall be issued during the week of June 20, 1982.
United States · United States Congress · 1 October 1981
Expresses the support of the Senate for the growing acceptance of principles of freedom and democracy in Poland. Commends the President for extending agricultural credits and aid to Poland. Urges the President to develop a policy toward Poland commensurate with U.S. concerns, to extend additional agricultural credits to Poland, and to press other countries to assist Poland.
United States · United States Congress · 1 October 1981
Expresses the objection of Congress to the proposed sale to Saudi Arabia of airborne warning and control system (AWACS) aircraft, conformal fuel tanks, AIM- 9L Sidewinder air-to-air missiles, and aerial refueling aircraft.
United States · United States Congress · 23 September 1981
Title I: Policy - Expresses the need to establish and maintain a uniform Federal policy for the management and use of the results of federally sponsored science and technology research and development. Title II: Implementation - Directs the Secretary of Commerce to coordinate, direct, and review the implementation and administration of this policy through consultation with Federal agencies and departments. Authorizes the Secretary to assist agencies in promoting licensing, utilization, and protection of Federal inventions both here and aboard and to receive fees and royalties. Requires the Secretary to report annually to Congress on these activities, including relevent statistical data and recommendations. Terminates the authority of the Secretary under this Act seven years after enactment. Title III: Allocations of Rights-Government Contractors - Grants each agency title to any invention made under contract with that agency upon certification to the Secretary that the services of the contractor are for the operation of Federal research centers, if necessary to protect intelligence activities, or to further the policy of this Act. Requires Federal agency research contracts to: (1) require periodic written reports on the commercial utilization of the invention; (2) reserve to the United States at least an irrevocable, nonexclusive, nontransferable, paid-up license to make, use, and sell the invention; and (3) employ a single patent rights clause, detailing the time limits and obligations of each party for moving on the invention. Grants the contractor the right to retain title to the invention, subject to the right of the Federal agency to require its commercial utilization through licensing specified terms. Permits an agency to waive its rights if to do so would be in the public interest. Title IV: Miscellaneous - Makes technical and conforming amendments to specified Acts.
United States · United States Congress · 17 September 1981
Delays until 1983 the application of Revenue Ruling 81-216 which denies a tax exclusion of the interest on multiple lots of $1,000,000 each of industrial development bonds that are pooled and issued as one bond.
United States · United States Congress · 17 September 1981
Expresses the objection of Congress to the proposed sale to Saudi Arabia of airborne warning and control system (AWACS) aircraft, conformal fuel tanks, Sidewinder air-to-air missiles, and aerial refueling aircraft.
United States · United States Congress · 15 September 1981
Authorizes the President to present, on behalf of Congress, a specially struck gold medal to the widow of Roy Wilkins. Authorizes the Secretary of the Treasury to coin and sell bronze duplicates of such medal. Authorizes appropriations.
United States · United States Congress · 15 September 1981
Expresses the disapproval of Congress of the Federal Trade Commission's final rule relating to used motor vehicles submitted to Congress on September 10, 1981.
United States · United States Congress · 11 September 1981
Declares that the President of the United States, the Senate and the Senate Committee on Banking, Housing, and Urban Affairs should assure that the specific provisions of the Federal Reserve Act providing for agricultural, commercial, and broad regional representation on the Board of Governors are followed.
United States · United States Congress · 10 September 1981
Amends the Crude Oil Windfall Profit Tax Act of 1980, as amended by the Economic Recovery Tax Act of 1981, to repeal the termination date for the partial tax exclusion of dividends and interest. Increases the amount of such exclusion.
United States · United States Congress · 3 August 1981
Shipping Act of 1981 - Declares the objectives of United States regulation of international liner shipping, including: (1) to develop and maintain an efficient ocean transportation system through commercial means; (2) to foster reliable and responsible service by ocean common carriers and conferences; and (3) to permit cooperation among carriers. Authorizes specified conference and intermodal activities of ocean common carriers or other persons subject to this Act. Lists authorized activities of shippers' councils. Requires that a copy of every agreement entered into with respect to such activities be filed with the Federal Maritime Commission. Sets forth required contents of conference and shippers' council agreements. Describes criteria by which the Commission shall approve, modify, or reject such agreements. Authorizes a conference or ocean common carrier engaged in foreign commerce to utilize loyalty contracts according to certain requirements. Exempts specified agreements, contracts, and activities from the antitrust laws of the United States. Directs ocean common carriers to file with the Commission, and keep open to public inspection, tariffs showing all rates between all points on each carrier's routes. Sets forth procedures for rate changes and refunds of rate charges. Prohibits a controlled carrier from maintaining rates in its tariffs that are below a level that is just and reasonable. Describes standards by which such rates shall be approved or disapproved. Provides for Presidential review of any order of suspension or final order of disapproval of rates of a controlled carrier. Exempts specified carriers from the provisions of this Act. Requires that ocean freight forwarders and non-vessel-operating common carriers shall furnish a bond approved by the Commission. Directs that ocean common carriers shall compensate ocean freight forwarders in a specified manner. Prohibits certain acts by ocean common carriers, including: (1) rebating or refunding any portion of rates except in accordance with a tariff; (2) charging rates that are unreasonably low; or (3) making unfair or unjustly discriminatory contracts with shippers. Restricts certain acts by shippers, ocean freight forwarders, non-vessel-operating common carriers, and other persons. Authorizes ocean common carriers, shippers, or other persons to file with the Commission a complaint alleging a violation of this Act. Describes procedures for the investigation and adjudication of such complaints. Assesses civil penalties for violations of this Act. Makes provisions concerning orders of the Commission relating to violations of this Act or regulations hereunder. Permits the Commission to exempt any specified activity or class of agreements between ocean common carriers or other persons subject to this Act from the requirements of this Act.
United States · United States Congress · 3 August 1981
United States Olympic Development Fund Checkoff Act of 1981 - Permits taxpayers to designate on their income tax returns an election to contribute one dollar of their income tax refunds or one dollar forwarded with returns to support the fund established by this Act. Establishes in the Treasury of the United States a United States Olympic Development Fund. Appropriates to the Fund an amount equivalent to the amount designated on tax returns to be available to the Fund. Directs the Secretary of the Treasury to pay amounts so transferred to the U.S. Olympic Committee for use in a program of expansion and improvement of amateur athletics. Sets forth reporting requirements with respect to the expenditure of such funds by the Committee.
United States · United States Congress · 31 July 1981
Amends the Internal Revenue Code to allow a taxpayer to elect either an income tax credit of $250 or an income tax deduction of $1,000 for maintaining a household which includes as a member a dependent age 65 or over.
United States · United States Congress · 29 July 1981
Amends titles II (Old Age, Survivors and Disability Insurance) and XVIII (Medicare) of the Social Security Act to provide for the appointment to the Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, and the Federal Supplementary Medical Insurance Trust Fund of one representative of employers, one representative of employees, one representative of beneficiaries, and one individual highly qualified in the management of investment funds. Requires that investments made by the Board secure the maximum possible interest yield commensurate with the safety of the Trust Funds. Fixes the interest rates for public-debt obligations issued for purchase by the Trust Funds at the average market yield on all marketable interest bearing U.S. obligations forming part of the public debt, all marketable interest bearing obligations which are not U.S. obligations but which are guaranteed by the United States, and all marketable federally sponsored agency interest bearing obligations which are lawful investments for fiduciary and trust funds under Federal control. Authorizes the Managing Trustee to use the equipment and experts necessary to assure the maximum possible interest yield on Trust Fund investments.
United States · United States Congress · 17 July 1981
Establishes within the National Institutes of Health the Office of Drugs of Limited Commercial Value under the direction of the Director of the National Institutes of Health. Establishes within the Office an advisory council to advise the Director and make recommendations to the Secretary of Health and Human Services respecting the time required for drug approval under the Federal Food, Drug, and Cosmetic Act. Authorizes the Director to provide financial assistance to entities for the development of drugs of limited commercial value, defined as a drug for a condition or disease of low incidence, to undertake the development of such drugs, undertake studies to determine the potential and need for specific drugs, and coordinate the efforts of public and private entities engaged in the development of such drugs. Requires the submission and approval of an application containing the scientific basis for the development and the proposed therapeutic use of the drug and other specified information before financial assistance is provided. Requires each entity receiving funds to keep specified records. Requires the Director to report to Congress within two years on the effectiveness of this Act.
United States · United States Congress · 15 July 1981
Independent Local Newspaper Act of 1981 - Amends the Internal Revenue Code to provide for the establishment of independent local newspaper advance estate tax payment trusts to facilitate payment of the estate tax imposed upon the estate of a decedent who owned an interest in an independent local newspaper. Sets forth requirements for the establishment of such trusts, including requirements that such trusts: (1) be created pursuant to a plan adopted by the newspaper; (2) be governed by a written instrument which requires that contributions to and income of the trust be invested solely in obligations of the United States; (3) name as trustee a bank or another individual who is capable of administering such trust in compliance with the requirements of this Act; (4) maintain trust assets separately from other property; (5) accept contributions exclusively from independent local newspapers; (6) devote assets of the trust solely to the payment of the estate tax; and (7) distribute any excess funding of the trust to its beneficiaries or their estates. Limits an individual who owns interests in several independent local newspapers to participation in not more than one estate tax payment trust. Defines an "independent local newspaper" as a newspaper publication which is not a member of a chain and which maintains all its offices in a single city, community or metropolitan area, or, on January 1, 1981, within one State. Defines "excess funding" as the excess of the face value of the assets of a qualified trust over: (1) 70 percent of the value of a decedent's interest in an independent local newspaper which is includable in his gross estate; or (2) a decedent's estate tax which is attributable to his interest in an independent local newspaper included in his gross estate. Exempts independent local newspaper advance estate tax payment trusts and the individuals for whom such trusts are established from income taxation with respect to income earned by such trust. Terminates such tax-exempt status if the taxpayer's interest in the newspaper is sold, the newspaper itself is sold or ceases to qualify as an independent newspaper, or there is an excess funding of the trust. Provides that the amount of any excess funding shall be distributed to the individual for whom the trust was created and included in his gross income or gross estate. Allows an income tax deduction to local independent newspapers for contributions made to estate tax payment trusts. Limits the amount of such deduction to 50 percent of the taxable income derived from such newspaper for the taxable year. Requires the redetermination of the estate tax of an individual for whom an independent local newspaper advance estate tax payment trust is established and the inclusion in the gross estate of such individual of an amount equal to the estate tax payment made by such trust which is attributable to the individual's interest in the newspaper, if the trust or any heir of the individual sells, within 15 years of the death of such individual, any part of the interest in the newspaper with respect to which the trust was created. Provides for the gradual phaseout of any additional estate tax which is imposed due to the premature sale of a newspaper, if the sale does not occur prior to the ten to 15 year period following the death of the individual for whom the estate tax trust is established. Permits the shareholders of an independent local newspaper who receive the stock of a corporation which the newspaper controls to exclude from their gross income any gain realized as a result of such distribution if: (1) the shareholders do not sell such stock within five years after the date of its distribution; (2) the shareholders retain control of the newspaper for five years after the date of the distribution; and (3) the newspaper and the controlled corporation each continue to be engaged in the active conduct of a trade or business through the five year period beginning on the date of the distribution. Excludes from the gross estate of a decedent the value of any interest in an independent local newspaper which he holds at the time of his death and any estate tax payment made by an independent local newspaper advance estate tax payment trust. Permits the executor of an estate which includes an interest in an independent local newspaper to pay the estate tax in two or more (but not exceeding ten) equal installments. Limits the maximum amount of estate tax that may be paid in installments to the excess of the amount of estate tax over the tax that would have been imposed if the interest in the newspaper had not been included in the gross estate, reduced by all payments of the estate tax made by an independent local newspaper advance estate tax payment trust.
United States · United States Congress · 14 July 1981
Petroleum Disruption Management Act of 1981 - Title I: Sequential Management Authority and Activation - Directs the President to prescribe (and transmit to Congress for approval) four petroleum disruption management programs: (1) a Strategic Petroleum Reserve distribution program; (2) a private dedicated reserve program (PDR); (3) a national crude oil sharing program; and (4) a petroleum product disruption management program. Prohibits approval of a program unless each House of Congress, within 30 days of transmittal of a program, passes a resolution approving the program. Requires the President to submit a revised program if any program is not approved. Provides for the activation of a program whenever the President determines that a substantial or severe crude oil or energy supply disruption or interruption exists or is imminent, or a program is necessary in order to comply with the international energy program, and an approving joint resolution is passed within six days of transmittal. Limits such programs to 120 days duration. Permits the President to request successive 120-day extensions. Title II: Private Crude Oil and Petroleum Product Storage Incentives - Directs the President to report on the advisability and alternative means of: (1) reducing the tax liability of persons who draw down crude oil and petroleum product reserves during oil supply disruptions; and (2) providing tax or other incentives for the construction of private-sector oil and petroleum product storage facilities and the maintenance of increased private-sector crude oil or petroleum product reserves. Title III: Strategic Petroleum Reserve and Private Dedicated Reserve Distribution - Authorizes the President to distribute crude oil from the Strategic Petroleum Reserve, upon a determination that a substantial crude oil disruption exists, in amounts not in excess of 300,000 barrels daily for no more than 90 days annually. Provides for such distributions on a pro rata basis. Amends the Energy Policy and Conservation Act to prohibit the Strategic Petroleum Reserve Plan from becoming effective unless each House of Congress passes a resolution approving the Plan within 30 days of the Plan's transmittal to Congress. Requires that during a substantial crude oil disruption allocation shall be as provided for in this Act. Requires the Secretary of Energy to submit to Congress a report evaluating the expansion of the physical capacity of the Reserve through the use of temporary storage facilities. Directs the President to promulgate a rule establishing a PDR. Requires the rule establishing the PDR to: (1) provide for the equitable distribution of crude oil at competitive prices; (2) require designated refiners to provide crude oil to any qualified refiner experiencing a supply disruption; (3) distribute crude oil to such qualified refiners to permit them to operate at 95 percent of the national utilization rate; (4) provide that the obligation of each designated refiner to sell crude oil to qualified refiners shall be a given percentage of each designated refiner's average crude oil runs to distallation units during the previous 12 months; and (5) provide that the price paid by a qualified refiner will not exceed a stated level. Directs the Secretary to submit to Congress a report determining the minimum volume of reserves to be maintained in the Strategic Petroleum Reserve and analyzing the advisability of distributing crude oil from the Reserve in lieu of activating the PDR. Title IV: National Crude Oil Sharing Program - Directs the President to promulgate a rule establishing a national crude oil sharing program. Requires the rule establishing such program to: (1) provide for the equitable sharing of crude oil at competitive prices among all regions during a severe disruption; (2) require refiners to offer for sale any crude oil supplies that would permit their refineries to operate in excess of the national utilization rate; (3) assure that refiners are able to purchase sufficient crude oil to permit operation at the national utilization rate; (4) provide that the price paid by a refiner will not exceed the weight-averaged price during the previous 60-day period; (5) provide for directives requiring a refiner to adjust the percentage yield of a refined petroleum product in order to increase output of that product in a time of short supply; and (6) provide for the adjustment of the quantities of crude oil allocated among refiners so as to ensure desired production levels. Title V: Petroleum Product Programs - Directs the President to promulgate a standby regulation which when implemented will provide for the mandatory allocation of refined petroleum products produced in or imported into the country in amounts specified in and at ceiling prices specified in such regulation. Requires the standby regulation to provide for: (1) protection of public health, safety, and welfare (including maintenance of residential heating), and national defense; (2) maintenance of all public services; (3) maintenance of agricultural operations; (4) preservation of an economically sound and competitive petroleum industry; (5) equitable distribution of refined petroleum products at equitable prices; (6) allocation of refined petroleum products necessary to explore for and extract fuels and minerals; (7) economic efficiency; and (8) minimization of economic distortion. Requires the standby regulation, in specifying prices, to provide for a dollar-for-dollar pass through of net increases in the cost of crude oil and refined petroleum products at all levels of distribution from the producer to the retail level. Requires such regulation to provide for the establishment of a State set-aside program for refined petroleum products to be activated on a State-by-State basis. Provides that authority to carry out any rationing contingency plan under the Energy Policy and Conservation Act shall expire when this Act becomes effective. Title VI: Establishment of Advisory, Data Collection and Coordination Functions - Directs the President to establish: (1) an Energy Emergency Council, to be composed of members of the executive branch, to advise the President on matters relevant to the implementation of this Act and the activation and management of its programs; and (2) an Energy Advisory Committee, to consist of members of the petroleum industry and consumers, to advise the President and the Council on matters relevant to the implementation of this Act and the activation and management of its programs. Directs the Council, after consultation with the Committee, to evaluate the current energy information collection and monitoring systems within the Federal Government. Directs the Secretary to inform the Administrator of the Energy Information Administration whether the energy information now being collected is sufficient, whether changes are needed, and if so, to direct the Administrator to make the necessary changes. Directs the Secretary to submit to Congress a report examining the standards for activation of the programs. Title VII: Miscellaneous Provisions - Sets forth provisions relating to administration and enforcement, including: (1) application of provisions of the Economic Stabilization Act of 1970 to regulations, orders, and Presidential actions undertaken pursuant to this Act; and (2) setting forth monetary penalties for violations of this Act. Amends the Department of Energy Organization Act to include any rule, regulation, or order issued under this Act in adjustment provisions to prevent special hardship or inequity. Extends, until October 1, 1989, the authority for international voluntary agreements with respect to the International Energy Program under the Energy Policy and Conservation Act. Terminates this Act on October 1, 1989.
United States · United States Congress · 8 July 1981
Directs the Postmaster General to issue a commemorative postage stamp to honor the seventieth anniversary of the founding of the Girl Scouts of the United States of America. Provides that such stamp shall be issued in the denomination used for first-class mail up to one ounce in weight and shall be placed on sale on March 12, 1982.
United States · United States Congress · 8 July 1981
Airline Deregulation Amendments Act of 1981 - Amends the Federal Aviation Act of 1958 to modify the definition of "ticket agent" as used in such Act. Directs air carriers to file with the Civil Aeronautics Board until December 31, 1982, individual and joint fares and charges, classifications, rules, and services for or in connection with interstate and overseas passenger air transportation. Requires that such filings shall be made to the Secretary of Transportation between January 1, 1983, and December 31, 1984. Prohibits air carriers and ticket agents from charging or collecting greater or less or different compensation than that specified in such filings. Transfers the authority of the Board relating to foreign air transportation to the Department of Transportation. Accelerates to January 1, 1983, the transfer of specified authority of the Board. Allows the Board to approve any contract or agreement that reduces or eliminates competition if it finds that the contract or agreement is necessary to secure important public benefits, including the marketing and sale of transportation through ticket agents. Sets forth the expiration dates for specified authority of the Secretary relating to contract approvals. Revises the expiration date and contents of the Secretary's (formerly the Board's) report to Congress concerning the implementation of such Act. Prohibits the Board from issuing any final order or rule in regard to agreements among air carriers and agreements among foreign air carriers insofar as those agreements provide for the accreditation and supervision of travel agents. Directs the Board to forward the recommendations and analyses concerning such proceedings to the Secretary for final disposition. Prohibits the Board and the Department from attaching an expiration date on any certificate of public convenience and necessity. Deletes provisions concerning the issuance of such certificates for temporary authority to provide air transportation. Permits an air carrier to file an application with the Secretary seeking to revoke a temporary or experimental certificate to engage in foreign air transportation. Directs the Secretary to grant such application according to specified criteria. Requires that each air carrier or foreign air carrier shall keep on file with the Board after January 1, 1983, the established divisions of all joint rates, fares, and charges for air transportation in which such carrier participates.
United States · United States Congress · 22 June 1981
Postal Service Amendments of 1981 - Authorizes the United States Postal Service to issue written demands requiring access to books, records, documents, or other objects believed to relate to any postal offense or civil matter under investigation by the Postal Service. Provides for the enforcement of such a demand by the appropriate district court. Authorizes the Postal Service to issue an order requiring any person to cease and desist from conducting a lottery or scheme for obtaining money or property by false representations through the mail. Declares that the resumption of such an activity through the use of any instrumentality of interstate commerce shall be considered to be a failure to comply with such order. Permits the Postal Service, in investigating whether a person is conducting such an activity, to tender the price of any article or service that such person has offered for sale. Declares that failure by such person to provide such article or service, or failure to comply with a written demand of the Postal Service for access to materials, shall constitute probable cause to believe such person is engaged in such activities, warranting the detention of such person's incoming mail. Establishes a civil penalty to be assessed by the Postal Service, after an opportunity for an agency hearing, against any person who: (1) attempts to evade an order directing a postmaster to return mail addressed to such person; (2) fails to comply with a cease and desist order; or (3) assists another person in evading such an order.
United States · United States Congress · 22 June 1981
Declares that it is the general policy of the Federal Government to rely on competitive private industry to supply the products and services it needs. Requires the Director of the Office of Management and Budget, in coordination with the Administrator of the Office of Federal Procurement Policy, to administer such policy.
United States · United States Congress · 9 June 1981
Amends the Internal Revenue Code to revise requirements for the exclusion of interest on mortgage subsidy bonds. Repeals provisions which allow tax-exempt status for such bonds if 95 percent of the mortgages financed by such issues are in compliance with stated requirements. Provides that a showing that the issuing authority has tried in good faith to satisfy all requirements will cure a failure to meet any particular requirement if such failure is corrected within a reasonable time after its discovery. Allows bondholders to rely upon an issuer's good faith covenant as to compliance. Revises the new homeowner requirements to allow eligibility for bond-financed mortgages for persons who are residing in substandard housing or who have lost their homes because of natural disasters or governmental action. Changes the method of determining the average area purchase price for purposes of the purchase price requirements for bond-financed mortgages. Specifies that the average area purchase price shall not include residences which are not typically financed through normal real estate mortgage loans and that such prices may be determined separately for new and previously occupied homes. Revises the arbitrage requirements to increase the amount by which interest rates on tax-exempt mortgage subsidy bonds may exceed the interest rates on mortgages financed with such bonds. Changes the method of determining the yield on an issue. Specifies that issuers are not required to dispose of any investment and realize a loss in order to satisfy arbitrage restrictions. Allows two or more qualified mortgage bond issues of a single issuer to be combined for purposes of determining compliance with arbitrage requirements. Permits issuers to maintain a reasonable reserve against investment losses and to allocate credits or payments between eligible mortgagors. Exempts mortgages insured by the Federal Housing Administration or guaranteed by the Veterans Administration from certain mortgage assumption requirements. Includes energy impacted areas within the definition of targeted areas for purposes of the special treatment of targeted area residences. Transfers to the States the authority to designate areas of chronic economic distress. Limits the designation of areas of chronic economic distress to 25 percent of the geographic area within a State. Redefines statistical areas to include two or more statistical areas combined. Repeals the registration requirements for bond issues.
United States · United States Congress · 3 June 1981
Urban Jobs and Enterprise Zone Act of 1981 - Title I: Designation of Enterprise Zones - Amends the Internal Revenue Code to provide for the designation of enterprise zones, for a period ending December 31, 2001, and subject to the approval of the Secretary of Housing and Urban Development, by local governments or by State governments on behalf of local governments for purposes of extending the tax incentives and regulatory flexibility measures provided by titles II and III of this Act. Specifies that the Secretary may approve the designation of such zones only if: (1) the area is within the jurisdiction of the designating local government; (2) the boundary of the area is continuous and includes accessible vacant or underutilized properties; (3) the area has a population of at least 4,000 if any portion thereof is located within a standard metropolitan statistical area with a population of at least 50,000 or 2,500 otherwise, 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 agree in writing to follow a course of action which may include reducing tax rates, improving local services, simplifying or streamlining regulation of business, or receiving commitments of private entities to assist employees and residents of the area. Terminates the authority of the Secretary to designate enterprise zones on December 31, 1996. Sets forth minimum and maximum numbers of such designations. Describes areas to which preference shall be given in deciding to designate enterprise zones. Amends the Department of Housing and Urban Development Act to set forth the duties of the Secretary under this Act. Requires any property tax reduction effected by a local government under an agreed to program to be disregarded for purposes of determining the eligibility of a State or local government for Federal assistance or benefits. Expresses the sense of the Congress that whenever possible, foreign-trade zones should be established within enterprise zones and that in the case of any application for designation of a foreign-trade zone within an enterprise zone: (1) the Foreign-Trade Zone Board should expedite the application process; (2) the Board, in evaluating such application, should consider 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: Taxation - Subtitle A: Refundable Credits for Employers and Employees - Amends the Internal Revenue Code to allow employers a refundable income tax credit for five percent of the wages paid to unemployed or economically disadvantaged individuals who are certified as eligible under the Comprehensive Employment and Training Act and who perform at least 50 percent of their services within an enterprise zone. Disallows a deduction for the portion of the wages or salaries equal to the amount of such credit. Allows individuals who are employees of qualified businesses and at least 50 percent of whose services during the taxable year are performed in an enterprise zone a refundable tax credit for five percent of the earned income attributable to services performed in an enterprise zone during a 36-month period. Limits such credit to $1,500 for any taxable year. Defines "qualified business" as a person: (1) at least 50 percent of whose gross receipts are attributable to the active conduct of a trade or business within an enterprise zone; and (2) at least 40 percent of whose employees are individuals whose employment qualifies for the employers' credit allowed under this subtitle and who are hired after the later of the dates on which the conduct of a business in an enterprise zone is begun or the area is designated as such a zone. Subtitle B: Reduction in Capital Gain Tax Rates - Reduces the alternative tax on capital gains and increases the capital gains deduction. Qualifies certain low-income rental housing located in an enterprise zone for such treatment. Permits property to remain qualified for purposes of the revised capital gains treatment after a designation of an enterprise zone has terminated. Exempts gain from the sale or exchange of property used in a business in an enterprise zone from the computation of the minimum tax. Removes as an item of tax preference accelerated depreciation on real property used in such a business. Subtitle C: Reduction in Gross Income of Trades or Businesses Operating in Zone - Excludes from taxable income a specified percentage of the sum of any amount received by a qualified business from the active conduct of a trade or business within an enterprise zone and any interest on financing provided by a taxpayer to a qualified business in connection with the conduct of such business. Subtitle D: Other Incentives - Permits any qualified business to elect to use the cash receipts and disbursements method of accounting without regard to any inventory requirements if its gross receipts do not exceed $2,000,000 in any prior taxable year. Allows a 20-year carryover of net operating losses for qualified businesses. Qualifies for the investment tax credit low-income rental housing with respect to which the capital gains tax reduction is granted under subtitle B of this title. Subtitle E: Sense of the Congress with Respect to Tax Simplification - Expresses the sense of the Congress that the Internal Revenue Service should simplify the administration and enforcement of any provision of the Internal Revenue code affected by this title. Title III: Regulatory Flexibility - Revises the definition of "small entity" for purposes of the analysis of regulatory functions, to include qualified businesses (as defined in Title II of this Act), designating governments, and nonprofit enterprises operating within enterprise zones.
United States · United States Congress · 21 May 1981
Debt Collection Act of 1981 - Amends the Privacy Act of 1974 to permit a Federal agency to disclose individual records to a consumer reporting agency. Authorizes a Federal agency attempting to collect a claim under the Federal Claims Collection Act of 1966 to notify a consumer reporting agency that a person is responsible for a claim if: (1) the agency has sent a written notice informing the person that a consumer reporting agency will be contacted, describing the information to be disclosed, and explaining the person's right to dispute the agency's claim; (2) the person has not agreed to repay the claim or filed for review of the claim; (3) the agency, upon request, has reviewed the claim; and (4) the agency has obtained assurances that the consumer reporting agency complies with Federal laws governing the provision of consumer credit information. Requires the agency to notify the consumer reporting agency promptly concerning any change in the status or amount of the claim. Directs Federal agencies to require any individual applying for credit or financial assistance, which may result in indebtedness to the Government, to furnish his or her social security numbers. Authorizes an agency (including the United States Postal Service) to deduct installment payments from the pay of an employee or member of the Armed Forces or Armed Forces Reserve to offset any debts owed the Government. Limits the amount deducted to 25 percent of the individual's disposable pay. Makes murder or manslaughter of a Federal debt collector a Federal offense. Amends the Internal Revenue Code to authorize the Secretary of the Treasury to disclose to a Federal agency: (1) information concerning the tax liability of a Federal loan applicant; and (2) the mailing address of a taxpayer for use by employees or agents of the agency in collecting or compromising a Federal claim. Increases the rate of interest on delinquent taxes to 100 percent (currently 90 percent) of the prime rate quoted by commercial banks to large businesses. Permits the annual (currently biennial) adjustment of such interest rate. Allows the Government to collect claims by administrative offset beyond the six year statute of limitations on actions brought by the Government for money damages. Directs each agency to charge a minimum annual rate of interest on outstanding debts and to assess a penalty charge and handling costs on delinquent claims, except where another statute, statutorily mandated regulation, loan agreement, or contract either prohibits or explicitly fixes interest or penalty charges. Declares that service of legal process brought for the collection of U.S. claims shall be accomplished in accordance with the Federal Rules of Civil Procedure or as directed by the court. Requires the Director of the Office of Management and Budget to: (1) direct each agency with outstanding debts to submit to the Director and the Department of the Treasury an annual report on the status of the agency's loans and accounts receivable; and (2) report to Congress annually on the management of agency debt collection activities.
United States · United States Congress · 21 May 1981
Amends the Internal Revenue Code to exclude from gross income $1,000 ($2,000 for joint returns) of the interest earned on an All Savers Certificate in taxable years 1981, 1982, and 1983.
United States · United States Congress · 18 May 1981
Malt Beverage Interbrand Competition Act - Declares that no antitrust law shall prohibit the importer, brewer, or trademark licensee of a trademarked malt beverage from entering into an agreement granting a wholesale distributor the exclusive right to sell such beverage within any defined geographic area within a State, or limiting such distributor to the sale of such beverage for ultimate resale to consumers in that area, when such beverage has substantial competition from other malt beverages in that area. Declares that this Act shall not affect any provision of State law.
United States · United States Congress · 14 May 1981
Longshoremen's and Harbor Workers' Compensation Act Amendments of 1981 - Amends the Longshoremen's and Harbor Workers' Compensation Act to revise the definition of "employee" to exclude (in addition to the currently excluded masters, or crew members, of any vessel) persons who at the time of injury were: (1) officers or employees of any government; (2) engaged in any employment which is not a direct or integral part of vessel loading, unloading, repairing, building, or breaking; or (3) providing services on or for any vessel less than 65 feet in length, while covered by a State workers' compensation program. Conforms specified conditions, under which compensation for disability or death shall be payable, to the revised definitions made by this Act. Bars compensation for injuries occasioned (formerly, "solely occasioned") by employee intoxication or intention to injure self or others. Bars compensation or benefits for injuries or occupational diseases related to material medical conditions concealed by false representations by an employee. Sets the maximum rate of compensation, with specified exceptions, at the lesser of: (1) an amount equal to 80 percent of the employee's spendable earnings; or (2) an amount equal to 200 percent of the applicable national average weekly wage. Defines "spendable earnings" as the employee's average weekly wage reduced by amounts required to be withheld under Federal and State tax laws. Directs the Secretary of Labor to publish tables in the Federal Register showing the amount of such "spendable earnings" for various wage levels. Entitles an employee to choose an attending physician from an applicable listing established by the deputy commissioner. Directs the deputy commissioner to actively supervise such medical care. Requires an attending physician who refers an employee to a medical specialist or consulting physician to notify the employer and submit a report, with reasons for such referral, to the employer and the deputy commissioner. Requires such specialist or consultants to submit reports in order to collect fees. Requires an employee seeking recovery of expenses for medical treatment or services to obtain such treatment in a specified manner and to provide written notice to the employer within ten days after the first treatment or services. Establishes procedures for providing independent medical examinations when medical questions arise. Entitles employees to specified relief in cases where the workplace injury is the sole cause of an impairment or disability. Provides for reexaminations upon request of employer or employee. Repeals specified provisions which made certain physicians ineligible for employment as independent medical examiners unless otherwise agreed to. Requires that 80 percent of spendable earnings be paid to an employee during the continuance of permanent total disability, subject to specified limitations. Requires, for a determination of total disability, that an employee prove by substantial evidence that as a result of the injury, in cases other than ones of loss of two or more specified body parts, he or she is permanently unable to earn any wages in employment. Requires that 80 percent of spendable earnings be paid to an employee during the continuance of permanent total disability, subject to specified limitations. Requires, for a determination of total disability, that an employee prove by substantial evidence that as a result of the injury, in cases other than ones of loss of two or more specified body parts, he or she is permanently unable to earn any wages in employment. Requires that 80 percent of spendable earnings be paid to an employee during the continuance of temporary total disability, subject to specified limitations. Prohibits such compensation from being paid after the employee attains the retirement age for the appropriate industry and geographical region. Sets the compensation rate for permanent partial disability at 80 percent of the spendable earnings of the employee, subject to specified limitations. Sets terms and conditions for compensation for loss of hearing. Sets the number of weeks of compensation for injuries to the spine, in the absence of a herniated or ruptured disc. Extends specified limitations to the "other cases" category of permanent partial disability compensation and terminates such compensation after the employee attains the appropriate retirement age. Deletes a provision subjecting such compensation to reconsideration of the degree of impairment by the deputy commissioner. Bars employees suffering injuries in specified categories from seeking additional compensation in this "other cases" category. Allows employers to reduce permanent partial disability compensation when an employee's actual wages (or wage earning capacity) have increased or to suspend such compensation when such wages equal or exceed average weekly wages before the injury. Requires the approval of the deputy commissioner for such reductions or suspensions, with such approval to be reviewable by an administrative law judge. Allows employees whose actual wages (or wage earning capacity) decrease, solely as a result of the injury, to less than their average weekly wage before the injury to request reviews of their compensation payments. Eliminates a provision for death benefits for the survivors of an employee who had been receiving "other cases" category permanent partial disability compensation and who dies from causes other than the original injury. Retains the current compensation rate for temporary partial disability, but subjects such rate to specified limitations. Provides for the designation by the Secretary of an attorney to serve as a special fund representative, with specified powers, upon recommendation by an employer and insurance carrier. Revises provisions relating to: (1) compensation for employees undergoing vocational rehabilitation; (2) the wage earning capacity of injured employees in partial disability cases; and (3) approval of settlements by the deputy commissioner and the manner of payment of such settlements. Provides that entitlement to compensation for disease alleged to be derived in any part from the claimant's occupation be determined by application of the substantive workers' compensation law of the State in which the last exposure to the disease-producing or aggravating stimulus occurred. Eliminates a provision for death benefits if the employee who sustains permanent total disability due to the injury thereafter dies from causes other than the injury. Revises methods of determination of the average weekly wages of injured employees at the time of injury. Revises the formula for determining yearly increases in specified compensation for permanent total disability or death. Makes revisions relating to: (1) failure to give notice; (2) the period of installment payments; (3) the right to compensation controverted; (4) penalties for overdue compensation; and (5) notice of payment. Repeals provisions concerning the deputy commissioner's authority: (1) in cases of suspended payments; and (2) to discharge the employer's liability for compensation. Limits the total money allowance payable to an employee or dependent survivors. Provides for preliminary rulings by the deputy commissioner with respect to claims to become final orders if the parties do not request a hearing. Makes other revisions in claims procedures. Repeals provisions relating to the review of compensation orders and the Benefits Review Board. Establishes a new Benefits Review Board to be appointed by the President, with the advice and consent of the Senate (the former Board was appointed by the Secretary). Transfers to such Board all officers, assets, liabilities, contracts, property, and records of the Benefits Review Board in the Department of Labor. Revises the procedures, functions, powers, and duties of such Board. Revises provisions relating to: (1) powers of the deputy commissioner or an administrative law judge in proceedings under such Act; (2) fees for services; (3) institution of proceedings by a person entitled to compensation; and (4) compromises obtained by a person entitled to compensation. Raises the criminal penalty for misrepresentation in the submission of a claim from a misdemeanor to a felony punishable by up to five years imprisonment, a $50,000 fine, or both. Prohibits the Secretary from: (1) furnishing specified information and assistance in processing claims to persons covered under such Act (formerly permitted such information and assistance upon request); and (2) participating, except as an intervenor, in proceedings relating to this Act which are before any court. Repeals provisions authorizing the Secretary of Labor to establish and enforce safety rules and regulations for employers covered by such Act. Repeals provisions relating to an administration fund and to the availability of appropriations. Provides that the discharge or refusal to employ any employee who has filed a fraudulent claim for compensation shall not be a violation of antidiscrimination provisions of such Act. Provides that nothing contained in the amendments made by this Act shall be construed to reduce the amount of any benefits being received under the Longshoremen's and Harbor Workers' Compensation Act by any individual on the date of enactment of this Act.
United States · United States Congress · 14 May 1981
Uniformed Services Pay and Benefits Act of 1981 - Increases for members of the uniformed services according to specified schedules: (1) the monthly basic pay; (2) the basic allowance for subsistence; and (3) the basic allowances for quarters. Increases the monthly pay for cadets and midshipmen. Increases the incentive pay for the performance of hazardous duty by enlisted crew members according to a specified schedule. Increases aviation career incentive pay, particularly for specified officers who have frequently and regularly performed operational or proficiency flying duty required by orders for over 25 years. Excludes time spent as an enlisted member of the Navy when determining incentive pay for officers for the frequent and regular performance of operational submarine duty required by orders. Increases the special pay for diving duty. Permits a member to receive both such special pay and incentive pay for hazardous duty if such member is assigned by orders to perform specified duties. Permits an unserved period of an enlistment to be considered as part of an immediately subsequent term of reenlistment for bonus purposes. Requires that such bonus be paid in periodic installments (currently gives a member the option of lump sum payment). Permits nuclear-qualified officers of the naval service to execute a new active-service agreement for one period of not more than four years as specified. Permits the payment of special pay for the performance of unusually hazardous duty or duty performed under unusually severe working conditions. Permits the President to suspend such pay in time of war. Permits the payment of special pay to an officer of an armed force who has been certified by the Secretary concerned as having the technical qualifications for detail to engineering or scientific duty. Sets forth the terms and conditions for receiving such pay. Prohibits the payment of travel and transportation allowances to members upon separation from service or release from active duty unless such member has served at least 90 percent of the time such member originally agreed to serve. Exempts members who retire, who are placed on the temporary disability retired list, or who are discharged for hardship from such requirement. Permits the reimbursement of subsistence expenses incurred by a member of a uniformed service and the member's dependents during a period of up to four days while occupying temporary quarters incident to a change of permanent station. Limits the amount of such reimbursement to $110 a day. Permits the advance payment of departure, dependent transportation and dislocation allowances. Authorizes a member of a uniformed service who is denied leave between two tours of duty overseas because of military necessity to use travel and transportation allowances from his current duty station at the first time the member is granted leave. Permits the payment of allowances to a member of a uniformed service and authorized dependents serving at a specifically designated duty station abroad transportation to another location abroad having different social, climatic, or environmental conditions than those at the duty station, or to the United States. Permits the payment of roundtrip transportation expenses for a member stationed overseas and authorized dependents incident to emergency leave granted for reasons of personal emergency. Permits the payment of travel and transportation allowances to a uniformed service member performing temporary duty away from his permanent duty station for return to such station or another location. Entitles members of the Armed Forces Health Professions Scholarship Program to an initial uniform allowance. Permits members of such program to be advanced up to one month's pay upon reporting for active duty. Permits the reimbursement of professional expenses incurred by an officer on active duty who is a judge advocate or law specialist of one of the armed forces. Establishes an annual limit to such reimbursement. Directs the Secretary of Defense to compare regular military compensation with the rates of pay for similar levels of work in private enterprise, rather than the General Schedule rates of basic pay for civilian employees when determining appropriate adjustments in compensation. Requires the President to prepare and submit to Congress an alternative plan for compensation adjustments when necessary because of national security considerations, national emergency, or economic conditions affecting the general welfare. Makes such alternative effective at the beginning of the applicable fiscal year unless either House adopts a resolution disapproving such alternative within 30 days of transmittal. Excludes involuntary leave taken by a member of an armed force during the appellate review of certain courts-martial convictions from the period of active service for purposes of determining leave entitlement and accumulation. States that such member may be required to begin such leave at any time on or after sentence is approved. Prohibits punishment before trial without regard to the effective date of sentences. Permits the accused to be represented by more than one military counsel as specified. Extends from 30 to 60 days the period during which an accused may petition the Court of Military Appeals for review of a decision of a Court of Military Review. Requires an application within two years of sentencing for modification or vacation of a sentence or findings in a courts-martial case which has been finally reviewed, but not review by a Court of Military Review. Increases the amount of reimbursement for quarters for a member of the uniformed service on sea duty deprived of quarters on ship. Increases the number of cadets and midshipmen who may be in financial assistance programs at any one time.
United States · United States Congress · 12 May 1981
Omnibus Prisoner of War Act of 1981 - Authorizes the Administrator of the Veterans' Administration to establish an advisory committee to assess medical and other information concerning former prisoners of war. Directs the Administrator to include on such committee former prisoners of war from World Wars I and II, the Korean conflict, and the Vietnam era and authorities from specified medical fields. Includes chronic respiratory ailment, frozen feet, and gastro-intestinal disorder manifest to a degree of ten percent or more among the diseases presumed to have been incurred or aggravated by incarceration. Eliminates the two year manifestation limitation on psychoses for service-connected disability purposes. Entitles former prisoners of war to hospital or nursing home care and other medical care as needed.
United States · United States Congress · 12 May 1981
Expanded Ownership Act of 1981 - Amends the Internal Revenue Code to establish, without expiration dates, an investment tax credit percentage income tax for contributions by an employer to a tax credit employee stock ownership plan (ESOP). Sets the amount of such credit at a sum equal to the lesser of: (1) the aggregate value of employer securities transferred for the taxable year to a tax credit ESOP; or (2) one percent of the aggregate compensation paid or accrued during the taxable year to all employees under such a plan. Includes amounts of the credit as part of the investment tax credit amount. Denies business expense, production of income expense, or contribution to deferred-payment plan deductions for amounts required to be transferred to a tax credit ESOP. Allows an employer to take advantage of the investment tax credit even though he or she contributes employer securities to an ESOP with an aggregate value of less than one percent of the qualified investment. Allows an income tax deduction for employer contributions to an ESOP which are applied to the repayment of principal and interest on a loan incurred for the purpose of acquiring qualifying employer securities. Limits the deductible amount for principal contributions to 25 percent of the compensation otherwise paid or accrued to all employees under the plan for the taxable year. Exempts such an ESOP from the limitations otherwise imposed on annual additions to an employee stock ownership plan. Increases the permissible deduction for employer contributions made to both a stock bonus trust and a profit sharing trust if the additional amount deductible is attributable to a contribution of employer stock or amounts used for the acquisition of such stock. Allows an income tax deduction for cash dividends paid with respect to employer stock which is held by a tax credit ESOP or by a former employee or a beneficiary to whom the stock was distributed from a tax credit ESOP or an ESOP. Extends the partial exclusion for dividends received to such amounts. Excludes from the gross income of an ESOP or a tax credit ESOP participant any lump-sum distribution of employer securities (not to exceed $25,000) made from a qualified trust which is part of an ESOP or a tax credit ESOP. Deems contributions, bequests, or similar transfers of employer securities, under certain conditions, to an ESOP or to a tax credit ESOP as a deductible charitable contribution. Provides for nonrecognition of any long-term capital gain from the sale of small business stock to an ESOP, a tax credit ESOP, or a specified type of consumer cooperative, except to the extent that the taxpayer's sale price exceeds the cost of small business stock or small business investment company stock purchased by the taxpayer within 18 months after the date of such sale. Reduces the basis of such stock by the amount not recognized as gain. Prescribes a three-year statute of limitations for the assessment of any deficiency attributable to gain realized by the sale of small business stock. Relieves an estate of liability for payment of the estate tax to the extent that amounts of the tax are attributable to employer securities transferred to an ESOP pursuant to a written agreement guaranteeing that the tax will be paid by the plan in an amount equal to the lesser of: (1) the amount of the tax imposed upon the acquired employer securities; or (2) the amount of the tax imposed on the gross estate reduced by the sum of allowable credits. Permits the payment of such tax in installments. Exempts such transfers from the tax on prohibited transactions. Permits the use of nonvoting stock in tax credit employer stock ownership plans. Permits a tax credit ESOP, where ownership of all outstanding employer securities is restricted to employees, to distribute benefits in cash although it does not permit a participant to exercise the right to demand that benefits be distributed in employer securities. Allows a stock bonus plan which distributes benefits in cash to qualify as a deferred compensation plan if benefits may be distributed in the form of any securities of the employer held by a tax credit ESOP. Allows financial institutions whose securities are not readily tradable to reduce the period for exercise of a put option to a period of at least 60 days following the date of distribution of employer stock and an additional such period in the following plan year. Permits a trust which is part of an ESOP or a tax credit ESOP to be a shareholder in a subchapter S corporation. Permits distributions from a tax credit ESOP of employer securities allocated to a participant's account in the case of a sale of the assets of a division or a sale of the stock of a subsidiary and the transfer of the participant to the employment of the acquiring entity. Includes provision of cafeteria plan benefits in qualified cash or deferred arrangements, for purposes of applying participation and discrimination standards to profit-sharing or stock bonus plans.
United States · United States Congress · 12 May 1981
Expresses the sense of the Senate that Anatoly Shcharansky be released from prison in the Soviet Union, be given proper medical treatment, and be permitted to emigrate to Israel. Urges the President, the Secretary of State, and the U.S. delegation to the Madrid Conference on Security and Cooperation to continue to express U.S. opposition to the imprisonment of Anatoly Shcharansky.
United States · United States Congress · 11 May 1981
Consumer Product Safety Act Amendments of 1981 - Amends the Consumer Product Safety Act, the Flammable Fabrics Act, the Poison Prevention Packaging Act, and the Federal Hazardous Substances Act to prohibit the disclosure of all information obtained by the Consumer Product Safety Commission which relates to a trade secret. Requires the Commission, prior to disclosing information which will permit the public to identify the manufacturer or private labeler of a consumer product, to give such person an opportunity to mark such information as confidential and therefore barred from disclosure. Requires the Commission to notify a manufacturer or private labeler of its decision to disclose as non-confidential, information which has been so marked. Authorizes a person receiving such notice to bring an action in Federal court to restrain disclosure. Directs the Commission, to the extent practicable, to notify and provide a summary of information to the manufacturer or labeler of a consumer product, if the manner in which such product is described in the information will permit the public to ascertain the identity of the manufacturer or labeler. Requires the Commission to take reasonable steps to assure that such information is accurate and that its disclosure is fair in the circumstances and reasonably related to effectuating the purposes of the Acts. Requires the Commission to notify a manufacturer or labeler of its decision to disclose information which such person claims is inaccurate. Authorizes a person receiving such notice to bring an action in Federal court to restrain disclosure. Directs the Commission to publish a retraction of inaccurate or misleading information and to communicate to each manufacturer of a consumer product, as may be practicable, information with respect to significant risk of injury associated with the product. Eliminates the Commission's authority to promulgate by rulemaking consumer product safety standards with respect to composition, contents, design, construction, finish, or packaging of a consumer product. Retains such authority with respect to product performance and warnings. Directs the Commission to utilize voluntary consumer product safety standards instead of rulemaking standards whenever: (1) compliance with the voluntary standards would adequately reduce the risk of injury; and (2) substantial compliance with such standards is likely. Directs the Commission to utilize warning standards, instead of performance standards, whenever such warnings would adequately reduce the unreasonable risk of injury. Eliminates the current provision prohibiting the incorporation of any sampling plan in a safety standard. Eliminates the Commission's authority to extend invitations to outside persons to develop mandatory standards. Requires the Commission's advance notice of proposed rulemaking to include an invitation to outside persons to propose a voluntary consumer product safety standard. Requires the Commission to submit notice to the Congressional commerce committees. Amends the Consumer Product Safety Act, the Federal Hazardous Substances Act, and the Flammable Fabrics Act to require the Commission to prepare a preliminary regulatory analysis and a final regulatory analysis, containing specified information, before publishing or promulgating a consumer product safety rule. Requires such analyses to contain cost-benefit analyses. Requires costs and benefits in the final regulatory analysis to be expressed whenever feasible in monetary terms. Amends the Consumer Product Safety Act, the Federal Hazardous Substances Act, and the Flammable Fabrics Act to require the Commission to find that compliance with a voluntary standard is unlikely to result in elimination of risk or that substantial compliance with such standard is unlikely, before promulgating a regulation with respect to which persons have adopted a voluntary standard. Directs the Commission to assist groups during the rulemaking process in developing safety standards and, to the extent practicable and appropriate, in developing product safety standards and test methods. Repeals the authority of the Commission to prescribe procedures to insure that manufacturers of new consumer products (products incorporating a design, material, or form of energy exchange which have not been used substantially) notify the Commission before distributing such products in commerce. Requires the Commission to consider the following additional factors in determining the amount of a civil penalty: the nature of the product defect, the occurrence or absence of injury, and the number of products distributed. Eliminates the Product Safety Advisory Council, the National Advisory Committee for the Flammable Fabrics Act, and the technical advisory committee authorized under the Poison Prevention Packaging Act of 1970. Eliminates the authority of the Commission to order a manufacturer, distributor, or retailer to give public or actual notice of substantial product hazards. Deletes the definition of "substantial product hazard." Establishes a Congressional veto of consumer product safety rules or regulations promulgated under the Consumer Product Safety Act, the Federal Hazardous Substances Act, and the Flammable Fabrics Act. Provides that any regulation shall not take effect if both Houses of Congress adopt a concurrent resolution of disapproval within 90 days of its promulgation. Limits to five the number of field offices which the Commission may maintain. Directs the Commission to notify the Congressional commerce committees of any consumer product information or research grant in an amount greater than $50,000. Requires the Commission to study each rule promulgated after the date of enactment within five years of its promulgation. Requires that such study include economic, paperwork, and judicial impact analyses. Requires that orders issued by the Commission to persons to submit reports and answers to Commission questions be designed to place the least burden on such person as is practicable taking into account the order's purpose. Directs the Commission to appoint Chronic Hazards Advisory Panels to review the scientific data and other information respecting a consumer product which presents risk of injury from cancer, birth defects, gene mutations, or behavioral disorders. Prohibits the Commission from taking any action with respect to a consumer product unless a Panel determines that the product presents such risk. Excludes amusement park rides as "consumer products" for the purposes of such Act. Reduces the authorization of appropriations for the Consumer Product Safety Commission for fiscal year 1982. Applies the Congressional veto provision to rules promulgated after enactment and those already promulgated which are to become effective at least 90 days after enactment.
United States · United States Congress · 11 May 1981
Amends the Communications Act of 1934 to prohibit the Federal Communications Commission (FCC) from restricting the broadcast of the results or projected results of an election to choose Presidential electors until all polling places are closed. Establishes the Commission on the Effect of the Communications Industry on Voter Behavior to report to the President and the Congress on whether the practices of the communications industry affect voter behavior. Sets forth the composition and functions of such Commission. Authorizes appropriations to carry out this Act.
United States · United States Congress · 7 May 1981
Small Business Investment Act of 1981 - Amends the Internal Revenue Code to reduce corporate income tax rates. Exempts from income taxation any income resulting from the transfer of stock to an individual exercising a stock option under an incentive stock option plan. Specifies that the optionee may not dispose of stock within two years after an option is granted nor within one year after the transfer of shares. Requires that the optionee be an employee of the corporation granting such option at all times during the period after an option is granted and for three months after such option is exercised. Defines "incentive stock option" as an option granted to an individual in connection with employment by a corporation to purchase stock of such corporation. Sets forth the following conditions for the granting of such options: (1) approval of a plan for granting options by the shareholders of the corporation; (2) the granting of options within ten years of either the adoption or approval of the plan; (3) the termination of the option after ten years; (4) an option-price which is not less than the fair market value of the stock subject to such option; (5) the nontransferability of the option; and (6) the optionee may not hold more than ten percent of the stock of the corporation, unless the option price is at least 110 percent of the fair market value of the stock subject to the option and such option is terminable five years after it is granted. Allows corporations engaged in marketmaking activities a limited deduction equal to the lesser of: (1) the amount of additions during the taxable years to a reserve for gains from marketmaking activities; or (2) the amount of gain from such activities. Defines "marketmaking activities" as the purchase and sale by a dealer in securities of over -the-counter equity securities which are: (1) issued by a corporation with less than $25,000,000 in stock and securities outstanding; and (2) held primarily for sale to customers in the ordinary course of trade or business. Requires specified withdrawals from the marketmaking reserve at the close of the taxable year and includes amounts so withdrawn in gross income. Provides for nonrecognition of any long-term capital gain from the sale of small business stock, except to the extent that the taxpayer's sale price exceeds the cost of small business stock purchased by the taxpayer within 18 months after the date of such sale. Prescribes a three-year statute of limitations for the assessment of any deficiency attributable to gain realized by the sale of such stock. Increases the allowable number of shareholders in a Subchapter S Corporation from 15 to 25. Increases the allowable cost of used property eligible for the investment tax credit and allows a three-year carryback and seven-year carryover of the excess cost of such property. Permits the quarterly refund of excise taxes on special fuels used for nontaxable purposes by intercity, local, or school buses if $50 or more of the refundable amount is payable during any of the first three quarters of the taxable year. Reduces the estate and gift tax rates. Provides for an exemption of $300,000 reduced by amounts allowed as specific exemptions by repealed Code provisions from the gross estate and from the amount used in computing taxable gifts. Repeals the unified credit against the estate and gift taxes. Repeals the existing limitations on the marital deduction for gift and estate taxes. Increases from $3,000 to $10,000 the annual gift tax exclusion. Revises the definition of "qualified real property," for purposes of the special use valuation, to qualify property used by a member of the decedent's family. Permits disabled individuals and those receiving social security benefits to qualify for the special use valuation of certain farms and other real property if they have materially participated in the operation of the farm or business for five out of the eight years preceding the year in which they become disabled or eligible for such benefits. Permits the spouse of a decedent to use such valuation if the spouse has actually managed the farm or business for ten years preceding the decedent's death or takes over active management upon the decedent's death. Permits the owner of a woodland to qualify for the special use valuation if he or she has used such property for a farming purpose for ten years prior to the decedent's death. Reduces from 15 to ten years the length of time a qualified property must be held following the decedent's death before it can be disposed of without incurring a recapture of estate tax benefits. Permits active management rather than material participation as a test for qualification of the estate for spouses, children under 21, students, and disabled individuals who receive property from a decedent who qualified for special use valuation. Allows like kind exchange of property without loss of special use valuation qualification. Repeals the requirement that an heir elect special treatment for involuntary conversions of qualified real property, thus making such treatment automatic upon such conversion. Revises the method of valuing farms to permit the use of bases other than cash in calculating average annual gross rental, whether or not any portion of the property has in fact been rented. States that gifts made within three years of a decedent's death shall be valued as of the time of transfer rather than as of the date of death. Modifies the alternate extension of time for payment of the estate tax where the estate consists largely of an interest in a closely held business to: (1) allow an installment payment election if the value of the interest in the closely held business is either 35 percent of the value of the gross estate or 50 percent of the taxable estate; (2) increase to 50 percent the value of an interest disposed of which will accelerate the payment of tax; and (3) permit payment, but with a penalty, of an installment within six months after the due date. Allows a disclaimer of an interest in property for estate tax purposes in specified circumstances where such disclaimer does not result in the passing of the interest concerned under the applicable State law. Increases the capital gains deduction from 60 percent to 75 percent. Reduces the rate of alternative minimum tax for individuals. Reduces the alternative tax on the capital gains of corporations.
United States · United States Congress · 6 May 1981
Delinquent Payments Act of 1981 - Requires Federal agencies to pay interest on overdue payments to businesses for property or services. Specifies the procedure for computing such interest. Requires an agency to pay any such interest charges out of funds appropriated for its programs. Allows an agency to take advantage of an early payment discount only if payment is made within the time specified by the business. Directs each agency to report to Congress annually on interest payments made during the fiscal year.
United States · United States Congress · 6 May 1981
Waste, Fraud, and Abuse Reduction Act of 1981 - Requires that two percent of the funds appropriated for each Executive agency be withheld during each of fiscal years 1982 and 1983. Directs each agency: (1) to transmit to Congress a plan to reduce waste, fraud, and abuse in the administration of agency programs during each such year; and (2) by February 1 of each such year, to report to Congress on its efforts to implement such plan. Authorizes each agency which achieves reductions in waste, fraud, or abuse resulting in savings not exceeding the amount of appropriations withheld, or which determines that no waste, fraud, or abuse exists, to request that the withheld appropriations be released. Directs the Committee on Governmental Affairs of the Senate and the Committee on Government Operations of the House of Representatives to investigate each agency's reduction efforts and to transmit to the Committee on Appropriations of its respective House recommendations on whether all or part of the withheld appropriations should be made available to the agency. Authorizes the Committees on Appropriations to report a joint resolution directing the Secretary of the Treasury to release such funds.
United States · United States Congress · 4 May 1981
Product Liability Risk Retention Act of 1981 - Defines "risk retention group" to mean any corporation or insurance company formed under State law which: (1) is organized for the primary purpose of assuming and spreading product liability or completed operations liability risk exposure; (2) is chartered or licensed as an insurance company under State law; (3) does not exclude members for competitive advantage; and (4) consists of members whose principal activity is the manufacture, design, distribution, packaging or sale of a product. Defines "purchasing group" to mean any group of persons which has as one of its purposes the purchase of product liability or completed operations insurance on a group basis. Exempts risk retention groups and purchasing groups from State laws which prohibit, regulate, or otherwise discriminate against such groups. Enumerates requirements which a State may impose on a risk retention group, including compliance with unfair claims settlement practices laws, payment of taxes, and reporting requirements. Authorizes a State to license an agent or broker for a purchasing group. Stipulates that the ownership interests of members in a risk retention group shall not be considered securities or an investment company for purposes of the Federal securities laws or State blue sky laws.
United States · United States Congress · 30 April 1981
Regulatory Reform Act - Amends the Administrative Procedure Act to require the notice of proposed agency rulemaking to include: (1) a statement of the Congressional intent behind the rule; (2) a solicitation for public proposals for alternative methods; (3) a description of the data used in the rulemaking; and (4) a determination of whether the rule is a "major rule," as defined in this Act. Directs each agency to publish with such notice: (1) a description of the costs and benefits of and alternatives to the proposed rule; and (2) a justification for proposing the rule and selecting it over the alternatives. Requires agencies to give interested persons at least 60 days to submit written comments on any proposed rule and to make oral comments on major rules. Provides for a 30-day extension of such period. Directs each agency to publish with each final rule a statement of its basis and purpose, including an assessment of the public comments and a comparison of the costs, benefits, and adverse effects of the rule. Requires an agency officer or employee to prepare the rulemaking notice and the statement of the basis and purpose. Directs each agency to maintain, for judicial review, a public file of the paperwork and comments pertaining to each rulemaking proceeding. Allows an agency to promulgate an emergency rule without meeting the notice and comment requirements. Directs such agency: (1) to publish an explanation of the situation requiring the emergency rule and a justification of the emergency rule selected; and (2) to comply with normal rulemaking requirements as soon as practicable. Requires each agency to review its major rules every ten years. Directs each agency to: (1) publish and submit to the President a proposed review schedule; and (2) publish a final schedule within one year after enactment of this Act. Permits the President to select additional rules for review. Directs each agency to publish a notice of its proposed action regarding a reviewed rule. Requires that the notice: (1) assess the costs, benefits, and adverse effects of the rule; and (2) invite public proposals for modifications or alternatives to the rule. Requires an agency to follow normal rulemaking procedures when amending or rescinding a rule. Specifies procedures for renewing a rule without amendment. Directs a court reviewing an agency action to: (1) set aside any agency rule found to lack substantial support in the rulemaking file; (2) determine the authority or jurisdiction of the agency on the basis of the language of the authorizing statute or other evidence of legislative intent; and (3) accord no presumption in favor of or against agency action. Declares that when proceedings for review of the same agency action are instituted in two or more courts of appeals within ten days, the Administrative Office of the United States Courts shall select the court in which the record shall be filed by a system of random selection. Authorizes the courts not selected to grant preliminary relief pending transfer of their proceedings. Requires each agency to publish in the Federal Register, semiannually, an agenda of the rules the agency expects to propose, promulgate, renew, or withdraw within the next 12 months, including a schedule of the significant actions pertaining to each rule. Directs the President to publish, semiannually, a Calendar of Federal Regulations, listing each of the major rules included in the agenda.
United States · United States Congress · 30 April 1981
Residential Housing Tax Incentives Act of 1981 - Amends the Internal Revenue Code to exclude from gross income, for income tax purposes, interest earned on qualified housing savings certificates. Limits such exclusion to interest earned on $100,000 certificates ($200,000 if joint return is filed). Defines "qualified housing savings certificates" as investment certificates issued by regulated depository financial institutions with three or five year maturities. Specifies that the proceeds of such certificates be applied to the financing of single-family, owner-occupied residences. Prescribes limitations on the interest rate chargeable for mortgages financed with proceeds from a qualified housing savings certificate. Disqualifies families which have income more than twice the median family income for their area from receiving a mortgage financed from proceeds from a qualified housing savings certificate. Prescribes penalties for the improper use of qualified housing savings certificates.
![Official portrait of Sen. Kasten, Robert W., Jr. [R-WI]](https://www.congress.gov/img/member/k000019_200.jpg)