United States · United States Congress · 18 March 1975
American Folklife Preservation Act - Creates an American Folklife Center in the Library of Congress. Provides that the center shall be subject to the supervision and direction of a board of trustees. Specifies the composition of such board, including four members appointed by the President, eight members appointed by the Librarian of Congress, the Librarian of Congress, and the Director of the Center. Authorizes the Center to establish and implement a program of contracts, grants, and scholarships to preserve, protect, revitalize and disseminate American folklife traditions and arts. Provides that no payment shall be made pursuant to this Act to carry out any research or training over a period in excess of two years. States that such research or training may be extended to a period not to exceed five years with the concurrance of at least two-thirds of the members of the board. Provides that no former employee of the Federal government shall be eligible to receive any grant or other assistance under this Act in the two-year period following the termination of such employment. Requires the Center to submit to the Library of Congress, an annual report of its operations under this Act. Authorizes such sums as may be necessary to carry out this Act.
United States · United States Congress · 17 March 1975
Tax and Loan Account Interest Act - Terminates the insurance of any bank under the Federal Deposit Insurance Act, which fails to pay the Federal funds rate of interest on all tax and loan accounts.
United States · United States Congress · 6 March 1975
Exempts the first sale of the share of a State or local government or a subdivision thereof in crude oil produced in the United States from the mineral or leasehold estate of any State or local government or subdivision-owned lands for purposes of the Emergency Petroleum Allocation Act of 1973.
United States · United States Congress · 6 March 1975
Expresses the disapproval of the Congress to the President's recent proposal to eliminate the use of appropriated funds to meet the payroll costs of Department of Defense agency's commissary employees.
United States · United States Congress · 5 March 1975
Directs the Comptroller General to audit annually the Federal Reserve Board, the Federal Advisory Council, the Federal Open Market Committee, and all Federal Reserve banks and branches. Requires the Comptroller General to report to the Congress within six months after the end of each fiscal year on the results of the audit. States that such report shall specifically indicate any program, financial transaction, or undertaking observed in the course of the audit which in the opinion of the Comptroller General has been carried out without legal authority.
United States · United States Congress · 3 March 1975
Securities Reform Act -Title I: Regulation of Exchanges and Associations - Includes within the term "member," for purposes of the Act, any person who agrees to be regulated by an exchange and with respect to whom the exchange undertakes to enforce the Federal securities laws and the exchange rules. Makes registered national securities exchanges and associations subject to identical regulatory provisions. States that any registered broker or dealer meeting applicable capital or competency requirements must be allowed to join any registered national securities exchange. Requires the governing body of every such exchange to contain public representatives, and requires the exchange to provide adequate resources to permit the public representatives to employ staff or retain professional personnel independent of the exchange staff. Prohibits registered national securities exchanges from imposing any schedule of prices or fixing rates of commissions, allowances, discounts, or other charges subject to a statutory timetable for the elimination of the current fixed minimum commission rate system. Gives persons denied membership on an exchange the right to seek review of such denial by the SEC and the courts. Permits members disciplined by an exchange to appeal such action to the SEC and to the courts. Provides that any proposed change in exchange rules must be filed with the SEC, which must publish such proposed change and allow interested persons a reasonable opportunity for comment thereon. States that the proposed change shall take effect forty-five days after publication by the SEC unless the SEC disapproves it. Allows registered national securities exchanges, with the concurrence of the SEC, to share the cost, functions and responsibility of the conduct of examinations and inspections of members, and to furnish copies of any reports of inspections or examinations to each other. Establishes new procedures to be followed by the Commission in compelling exchanges and registered associations to change their rules, and in regulating off-floor trading by exchange members. Gives the SEC the authority to suspend or expel exchange members who have violated exchange rules. Prohibits national securities exchanges and national securities associations from preventing their members from executing transactions for customers in other markets whenever those markets offer a better price to such customers. Requires the SEC to adopt rules to assure that customers are getting the best price from their brokers. Prohibits national securities exchanges and national securities associations from preventing its members from participating in any registered clearing agency or securities depository. Gives the SEC authority to investigate and bring injunctive actions for violations of National Association of Securities Distributors rules and exchange rules, and to bring injunctive actions to compel a registered national securities exchange or association to enforce compliance with the rules of such exchange or association. Title II: Financial Responsibility; Regulation of Brokers Dealers; Reports and Examinations - Broadens existing prohibitions on improper hypothecation of securities by brokers, dealers and members to embrace improper lending of such securities. Requires all members of a registered national securities exchange to register with the SEC. Requires persons registering as broker-dealers to file certified financial statements with their application (rather than verified statements). Requires that, within six months of the granting of an application for registration, the Commission, or an exchange, or the NASD as designated by the Commission, shall examine the new broker-dealer to determine whether it is operating in conformity with the Federal securities laws. Adds armed robbery and grand larceny to the list of statutory offenses which bar a person from becoming a broker-dealer. Requires the Commission, in cooperation with the exchanges and the NASD, to devise and administer a uniform examination which, with respect to partners, officers, and supervisory employees shall include questions relating to enumerated matters. Directs the SEC, by no later than July 1, 1975, to establish minimum capital requirements, providing for ample, liquid and permanent capital for brokers, dealers and members. Authorizes the Commission to classify brokers, dealers and members for purposes of establishing such requirements. Requires registered national securities exchanges to furnish copies of documents to the SEC upon request. Requires registered brokers, dealers and members to supply their customers with certified comparative balance sheets and income statements. Authorizes the Commission to adopt rules regulating the reporting of transactions and to prescribe uniformity in accounting procedures and systems of brokers and dealers and members. Title III: Development of a National Clearance and Settlement System - Authorizes the Commission to make rules applicable to brokers or dealers regulating the time and method of making settlements, payments and deliveries and closing of accounts. Provides that, in the exercise of this rulemaking authority, the Commission shall not affect the authority of the Board of Governors of the Federal Reserve System to regulate securities credit. Requires clearing agencies, securities depositories and transfer agents to register with the SEC, and establishes appropriate procedures. Sets forth procedures under which the Commission must grant or deny application for registration of clearing agencies and securities depositories. Authorizes the Commission to establish terms and conditions under which a clearing agency, securities depository or transfer agent may withdraw from registration. Gives the SEC direct rulemaking power over clearing agencies, securities depositories and transfer agents. Empowers the SEC to review clearing agency or securities depository action in the areas of disciplinary action or denial of admission to a participant. Grants the Commission disciplinary powers with respect to clearing agencies, securities depositories and transfer agents. Directs the SEC, on or before December 31, 1976, to take appropriate steps to eliminate the use of the stock certificate as a means of settlement of securities transactions between brokers and dealers. Authorizes the Commission to grant confidential treatment to material filed with it only under very limited conditions, including a finding that disclosure is not in the public interest. Empowers the Commission to prescribe rules with respect to the form or format of securities issued by companies, any class of whose securities is registered under the Act, or which would be required to be so registered except for the exemption from registration provided for securities of registered investment companies or insurance companies under certain conditions. Directs every issuer whose securities are registered on a national securities exchange to consolidate in a single person the functions of transfer agent and registrar. Directs the Securities and Exchange Commission to conduct a study to consider the public policy implications of the growing practice of registering securities in "street name" and to determine whether steps can be taken to facilitate communications between corporations and their shareholders while, at the same time, retaining benefits of such registration. Prohibits the imposition of state or local taxes on securities, or on the transfer of securities, solely because the facilities of a registered clearing agency or securities depository are physically located in the taxing jurisdiction. Requires registered national securities exchanges, associations, brokers, dealers, clearing agencies and securities depositories to: (1) report information about missing, lost or stolen securities to the SEC or such person as the SEC designates; and (2) require the fingerprinting of partners, directors, officers, and employees and the submittal of such fingerprints to the Attorney General of the United States for identification and appropriate processing. Title IV: Miscellaneous - Requires the SEC to include in its annual report to Congress certain designated information concerning the Commission's administration of the Freedom of Information Act. Raises the amount of the registration fee every national securities exchange must pay to the SEC from 1/500th of one percent to 1/100th of one percent of the dollar amount of sales of securities (other than certain governmental obligations) transacted on that exchange. Title V: Development of a National Securities Market System - Directs the Commission to establish a national market system for transactions in securities. Directs the Commission to make a study of the need for the establishment of a national regulatory body to administer the national market system, and to report its results to the Congress by December 31, 1976. Authorizes to be appropriated $300,000 for each study.
United States · United States Congress · 3 March 1975
National Science Foundation Authorization Act - Authorizes appropriations to the National Science Foundation for fiscal year 1976, including: (1) $367,300,000 for Scientific Research Project Support; (2) $101,500,000 for National and Special Research Programs; (3) $60,200,000 for National Research Centers; (4) $64,000,000 for Research Applied to National Needs; (5) $14,800,000 for Graduate Student Support; and (6) $8,000,000 for International Cooperative Scientific Activities. Authorizes the National Science Foundation to conduct a college science improvement program to improve the science education capabilities of predominantly undergraduate institutions. Authorizes $4,000,000 to be appropriated for fiscal year 1976, for expenses of the National Science Foundation incurred outside the United States to be paid in foreign currencies which are determined to be excess to the normal requirements of the United States. Instructs the Director of the National Science Foundation to keep the Committee on Science and Astronautics of the House of Representatives and the Committee on Labor and Public Welfare of the Senate fully and currently informed of the activities of the Foundation.
United States · United States Congress · 27 February 1975
Provides, under the Omnibus Crime Control and Safe Streets Act, that specific grants under such Act shall not be made to any State, unit of general local government, or public agency, unless there is in effect a law enforcement officer's bill of rights. States that such bill of rights must substantially provide as a minimum the rights enumerated in this Act, including: (1) the right of a law enforcement officer to engage in political activity during off-duty hours or to refrain from such activity; and (2) observance of specified standards with respect to the investigation of a law enforcement officer who is under investigation for alleged malfeasance, misfeasance, or nonfeasance of official duty, with a view to possible disciplinary action, demotion, dismissal, or criminal charges. States that such standards shall include: (1) informing the law enforcement officer of the nature of the investigation, the names of any complainants, and the identity and authority of the person conducting such investigation; (2) full recordation of the investigation; and (3) allowing the law enforcement officer to have his counsel present at any interrogation in connection with the investigation. Grants a law enforcement officer the right to recover pecuniary and other damages from persons violating any of the rights established under the bill of rights. Provides that no law enforcement officer shall be required to disclose, for the purposes of promotion or assignment, any item of his property, income, assets, debts, or expenditures. Establishes a Law Enforcement Officers' Grievance Commission composed of representatives of the general public, law enforcement agencies, and other public agencies. Gives the Commission the authority to receive, investigate, and determine grievances of any law enforcement officer, and to require testimony under oath and the production of documents. Defines terms used in this Act.
United States · United States Congress · 26 February 1975
Provides for certification by the State water pollution control agency of treatment projects within such State where the Administrator of the Environmental Protection Agency determines that such projects will be carried out in accordance with State laws and standards at least equivalent to those established by Federal law.
United States · United States Congress · 25 February 1975
Records Management Act - Requires the establishment of standards and procedures to assure efficient and effective Government records management. States that such standards and procedures shall seek to effectuate the following goals: (1) accurate and complete documentation of the policies and transactions for the Federal Government; (2) control of the quantity and quality of records produced by the Federal Government; (3) simplification of the processes through which records are created, stored, retrieved, and used; (4) the judicious preservation and disposal of records; (5) the establishment and maintenance of a system which focuses continuous attention upon records from their initial creation to their final disposition; (6) the establishment and maintenance of mechanisms of control with respect to records creation, in order to assure the prevention of unnessary records; and (7) the establishment and maintenance of such other systems or techniques as the Administrator considers necessary to carry out the purposes of this Act. Provides that the Administrator shall provide guidance and assistance to Federal agencies with respect to records creation, records maintenance and use, and records disposition. Directs the Administrator of General Services to: (1) conduct inspections or paperwork studies, at regular intervals as determined to be necessary by the Administrator, of the records and records management practices and and programs of every Federal agency; (2) require the head of every Federal agency to transmit a report to the Administrator with respect to the records and records management practices and programs of each such Federal agency during each period of two calendar years; (3) prescribe rules with respect to records management; and (4) order, to the extent he considers necessary, the head of any Federal agency to take specific action with respect to the records or records management practices of his agency. Establishes in the executive branch a Records Review Board to review any order issued by the Administrator under the provisions of this Act upon appeal by any Federal agency. Directs the head of each Federal agency to make and preserve records containing adequate and proper documentation of the organization, functions, policies, decisions, procedures, and essential transactions of the Federal agency and designed to furnish the information necessary to protect the legal and financial rights of the Federal Government and of persons directly affected by the activities of the Federal agency. Requires each agency head to establish safeguards against the removal or loss of records he determines to be necessary and required by the rules of the Administrator.
United States · United States Congress · 20 February 1975
Provides for a credit under the Internal Revenue Code for 20 percent of the amounts deposited by the taxpayer in an educational savings plan for himself or a dependent. Sets limitations on the amount of such credit, dependent upon the nature of the account. Defines "educational savings plan" and other terms used in this Act. Provides for the recapture of any such credit allocable to nonqualified noneducational uses or for failure to use the account. (Adds 26 U.S.C. 42)
United States · United States Congress · 19 February 1975
Tax and Loan Account Interest Act - Terminates the insurance of any bank under the Federal Deposit Insurance Act, which fails to pay the Federal funds rate of interest on all tax and loan accounts.
United States · United States Congress · 19 February 1975
Authorizes the Administrator of Veterans' Affairs to purchase from one or more life insurance companies a policy or policies of mortgage protection life insurance on a group basis for veterans unable to obtain commercial life insurance because of a service- connected disablility. Sets forth the maximum amount of insurance under a policy provided under this Act. Authorizes the Administrator to deduct insurance premiums from any compensation or other cash benefits payable to veteran by the Veterans' Administration, and to pay such premiums to the insurers. States that any amount of insurance in force under this Act on the date of death of an insured veteran shall be paid only to the holder of the mortgage loan on the veteran's home as a credit toward loan indebtedness. Requires each policy purchased under this Act to provide for the following: (1) reinsurance with other insurers which meet the Administrator's criteria; (2) that the Administrator may discontinue a whole policy, or exclude from coverage loans made after a date fixed by him; (3) issuance to each insured veteran of a certificate setting forth the benefits to which he is entitled; (4) any other provisions necessary to carry out this Act; and (5) an annual accounting to the Administrator of the amount of premiums paid, the total of all mortality and other claim charges incurred, and the amount of the insurer's expenses and risk charges. States that insurance under this Act shall terminate upon whichover of the following events first occurs: (1) satisfaction of the veteran's indebtedness under the loan upon which the insurance is based; (2) the veteran's 70th birthday; (3) termination of the veteran's ownership of the property securing the loan; (4) discontinuance of payment of premiums by the veteran; or (5) discontinuance of the entire contract or agreement. (Adds 38 U.S.C. 791-95)
United States · United States Congress · 19 February 1975
Declares it to be the sense of the House of Representatives that: (1) the Government of the United States should maintain and protect its sovereign rights and jurisdiction over the canal and zone, and should in no way cede, dilute, forfeit, negotiate, or transfer any of these sovereign rights, power, authority, jurisdiction, territory, or property that are indispensably necessary for the protection and security of the United States and the entire Western Hemisphere; (2) that there be no relinquishment or surrender of any presently vested United States sovereign right, power, or authority or property, tangible or intangible, except by treaty authorized by the Congress and duly ratified by the United States; and (3) that there be no recession to Panama, or other divestiture of any United States-owned property, tangible or intangible, without prior authorization by the Congress (House and Senate), as provided in article IV, section 3, clause 2 of the United States Constitution.
United States · United States Congress · 6 February 1975
Provides, under the Emergency Petroleum Allocation Act, that State-owned crude oil produced in the United States from any lease shall be exempt from regulations for the mandatory allocation of crude oil, residual fuel oil, and refined petroleum products.
United States · United States Congress · 6 February 1975
American Folklife Preservation Act - Creates an American Folklife Center in the Library of Congress. Provides that the center shall be subject to the supervision and direction of a board of trustees. Specifies the composition of such board, including four members appointed by the President, eight members appointed by the Librarian of Congress, the Librarian of Congress, and the Director of the Center. Authorizes the Center to establish and implement a program of contracts, grants, and scholarships to preserve, protect, revitalize and disseminate American folklife traditions and arts. Provides that no payment shall be made pursuant to this Act to carry out any research or training over a period in excess of two years. States that such research or training may be extended to a period not to exceed five years with the concurrance of at least two-thirds of the members of the board. Provides that no former employee of the Federal government shall be eligible to receive any grant or other assistance under this Act in the two-year period following the termination of such employment. Requires the Center to submit to the Library of Congress, an annual report of its operations under this Act. Authorizes such sums as may be necessary to carry out this Act.
United States · United States Congress · 6 February 1975
Establishes in the House of Representatives the Committee on Internal Security. Authorizes the Committee to make investigations of the extent, character, objectives, and activities within the United States of organizations, whether of foreign or domestic origin, their members, agents, and affiliates, which seek to establish a totalitarian dictatorship within the United States, or to overthrow the form of government of the United States or of any State, by force, violence, treachery, espionage, sabotage, insurrection, or any unlawful means.
United States · United States Congress · 5 February 1975
Prohibits any change in the status of any member of the uniformed services who is in a missing status as a result of service in Southeast Asia, until the provisions of the Paris Peace Accord of January 27, 1973, have been fully complied with by North Vietnam or the President has determined and reported to Congress that all reasonable actions have been taken to account for such members.
United States · United States Congress · 5 February 1975
American Folklife Preservation Act - Creates an American Folklife Center in the Library of Congress. Provides that the center shall be subject to the supervision and direction of a board of trustees. Specifies the composition of the board, including: four members appointed by the President, eight members appointed by the Librarian of Congress, the Librarian of Congress and the director of the Center. Authorizes the Center to establish and implement a program of contracts, grants, revitalize and scholarships to preserve, protect, revitalize and disseminate American folklife traditions and arts. Provides that no payment shall be made pursuant to this Act to carry out any research or training over a period in excess of two years, with specified exceptions. Provides that no former employee of the Federal government shall be eligible to receive any grant or other assistance under this Act in the two year period following the termination of such employment. Requires the Center to submit to the Librarian of Congress, for inclusion in its annual report to the Congress, an annual report of its operations under this Act. Authorizes to be appropriated to the Center to carry out the provisions of this Act $167,750 for fiscal year 1976, $710,000 for fiscal year 1977, and $1,716,000 for fiscal year 1978.
United States · United States Congress · 5 February 1975
Provides, under the Coastal Zone Management Act, for the establishment of a national policy with respect to the Nation's beach resources. Defines the terms used in this Act and states that it is the declared intention of Congress to exercise its constitutional power to protect the public's right to use the beaches. Provides that no person shall construct or maintain any barrier which interferes with the public's right to use the public beaches. Authorizes the Attorney General or U.S. district attorneys (1) to establish and protect the public's right to the beaches; (2) to determine the existing status of title, ownership, and control; and (3) to condemn easements to accomplish the purposes of this Act. Declares that actions brought under this Act may be for injunctive, declaratory, or other suitable relief. States that nothing in this Act shall be held to impair specified State interests in the beaches. Delcares that it is desirable that the States and Federal Government act together to protect the rights and interests of the public in the beaches. Authorizes the Secretary of Transportation to provide financial assistance to any State or political subdivision for the development and maintenance of transportation facilities necessary in connection with the use of public beaches. Authorizes to be appropriated such sums, not to exceed $30,000,000 for each of the fiscal years 1976, 1977, and 1978, for grants to States to plan and develop projects designed to secure the right of the public to the beaches.
United States · United States Congress · 5 February 1975
Expresses the sense of the House of Representatives that the President and the Secretary of the State should take the necessary steps, including the renewal of negotiations between the parties, signatory to the Paris agreement and the agreement with the Lao Patriotic Front, to finally determine the fate of all United States servicemen and civilians missing in Southeast Asia. Directs the Speaker of the House of Representatives to transmit a copy of this resolution to the President who is requested to report to the House in 90 days on steps taken to implement this Act.
United States · United States Congress · 3 February 1975
Authorizes, under the Communications Act of 1934, grants to States and units of local government for the establishment, equipping, and operation of emergency communications centers to make the national emergency telephone number 911 available throughout the United States. Authorizes appropriations of $5,000,000 and $7,500,000 for fiscal years 1975 and 1976, respectively, to make grants under this Act.
United States · United States Congress · 3 February 1975
Expresses the sense of Congress that the United States and the various political entities thereof should adopt "911" as the nationwide, uniform, emergency telephone number.
United States · United States Congress · 31 January 1975
American Folklife Preservation Act - Creates an American Folklife Center in the Library of Congress. Provides that the center shall be subject to the supervision and direction of a board of trustees. Specifies the composition of the board, including: four members appointed by the President, eight members appointed by the Librarian of Congress, the Librarian of Congress and the director of the Center. Authorizes the Center to establish and implement a program of contracts, grants, revitalize and scholarships to preserve, protect, revitalize and disseminate American folklife traditions and arts. Provides that no payment shall be made pursuant to this Act to carry out any research or training over a period in excess of two years, with specified exceptions. Provides that no former employee of the Federal government shall be eligible to receive any grant or other assistance under this Act in the two year period following the termination of such employment. Requires the Center to submit to the Librarian of Congress, for inclusion in its annual report to the Congress, an annual report of its operations under this Act. Authorizes to be appropriated to the Center to carry out the provisions of this Act $167,750 for fiscal year 1976, $710,000 for fiscal year 1977, and $1,716,000 for fiscal year 1978.
![Official portrait of Sen. Krueger, Robert C. [D-TX]](https://www.congress.gov/img/member/k000333_200.jpg)