The world's political record
Person
![Official portrait of Sen. Lugar, Richard G. [R-IN]](https://www.congress.gov/img/member/l000504_200.jpg)
United States · Official source
4,609 records where Sen. Lugar, Richard G. [R-IN] is listed as a sponsor, author, or other actor. Search with topics and years
United States · United States Congress · 6 February 1981
Requests the President to designate April 26, 1981, as "National Recognition Day for Veterans of the Vietnam era."
United States · United States Congress · 6 February 1981
Expresses the sense of the Senate that the Consumer Product Safety Commission, the Environmental Protection Agency, and the Food and Drug Administration should develop and validate an alternative nonanimal testing procedure.
United States · United States Congress · 5 February 1981
Family Enterprise Estate and Gift Tax Equity Act - Amends the Internal Revenue Code to reduce the estate and gift tax rates beginning in 1981. Increases the unified credit against the estate and gift taxes from $47,000 to $124,750 by specified annual increments through 1985. Increases from $175,000 to $600,000, by specified annual increments through 1985, the minimum gross estate requirement for filing of a return. 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. Qualifies estates of decedents who were disabled or retired for the special valuation of certain farms based on use if such decedents materially participated in the operation of the farm for five out of eight years preceding the year in which they became disabled or eligible for disability benefits. Permits the spouse of a decedent to use such valuation if the spouse has managed the farm or business for ten years preceding the decedent's death or takes over active management upon the decedent's death. Qualifies woodlands for the special use valuation if the decedent or a member of the decedent's family owned and farmed the property 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 and put to a qualified use 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. Repeals the $500,000 limitation on the reduction of the value of qualified real property permitted by the special use valuation. Allows the like kind exchange of property without loss of special use valuation eligibility. Revises the method of valuing farms by providing that the basis of such valuation shall be the average annual gross rental value. Authorizes the step-up in basis of such assets. Repeals the requirement that an heir elect special treatment for involuntary conversions of qualified real property, thus making such treatment automatic upon such conversion. 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. Authorizes an individual to elect to pay a gift tax rather than use the unified tax credit. 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.
United States · United States Congress · 5 February 1981
Amends the Internal Revenue Code to increase the amount of the earned income exclusion for U.S. citizens working abroad who are bona fide residents of a foreign country. Sets the amount of such exclusion at $50,000, plus 50 percent of the lesser of compensation exceeding $50,000 or $50,000. Repeals the requirement that such U.S. citizens work in hardship areas to be eligible for the tax exclusion. Reduces the length of the residency requirement for the tax exclusion. Provides for an income tax exclusion for the value of employer-provided lodging in a camp in cases where satisfactory housing is not generally available. Repeals the income tax deduction for certain living expenses of U.S. citizens abroad.
United States · United States Congress · 5 February 1981
Limits the quantity of automobiles that may be imported from Japan during each of calendar years 1981, 1982, and 1983, to 1,600,000.
United States · United States Congress · 3 February 1981
Intelligence Identities Protection Act of 1981 - Amends the National Security Act of 1947 to establish criminal penalties for any person who knowingly discloses information which identifies a U.S. covert intelligence agent. Establishes a maximum penalty of ten years' imprisonment and/or a $50,000 fine for any person who, having had authorized access to classified information which identifies a covert agent, learns the identity of a covert agent and intentionally discloses such information. Establishes a maximum penalty of five years' imprisonment and/or a $25,000 fine for any person who, having had authorized access to classified information, learns the identity of a covert agent and intentionally discloses such information. Establishes a maximum penalty of three years' imprisonment and/or a $15,000 fine for any person who, in the course of a "pattern of activities intended to identify" covert agents and with "reason to believe" that such activities would impair U.S. foreign intelligence activities, discloses information identifying an agent. Directs the President to establish procedures requiring Federal agencies to provide assistance in concealing the identity of U.S. intelligence agents.
United States · United States Congress · 3 February 1981
Amends the Export Administration Act of 1979 to require Congressional approval of any proposal to prohibit under such Act the export of agricultural commodities to a foreign country, other than in connection with a prohibition of all exports to such country. Limits the President's authority to restrict the export of goods and technology with military potential by forbidding the exercise of such authority to prohibit the export of agricultural commodities to any foreign country.
United States · United States Congress · 3 February 1981
Omnibus Small Business Capital Formation Act of 1981 - Title I: Income Taxation - Subtitle A: Capital Formation - Allows individual taxpayers a ten percent income tax credit for investment in small business incentive stock (stock issues aggregating less than $15,000,000 by corporations with equity capital of less than $25,000,000). Limits the amount of such credit to $1,000 ($2,000 for taxpayers filing jointly). Denies such credit to individuals who dispose of incentive stock within 12 months of purchase. Treats as long-term capital gain amounts actually paid to a taxpayer with respect to a small business participating debenture (SBPD) which constitute the distribution of a share of the earnings of the issuer. Defines "small business participating debenture" (SBPD) as a written debt instrument issued by a qualified small business which: (1) is a general obligation of such business; (2) bears interest at not less than specified by the Secretary of the Treasury; (3) has a fixed maturity; (4) grants no voting or conversion rights in the business to the purchaser; and (5) provides for the payment of a share of the issuer's total earnings. Defines "qualified small business" as one: (1) whose equity capital does not exceed $25,000,000: (2) the face value of all of whose outstanding SBPD's does not exceed $1,000,000; and (3) which has no outstanding securities subject to regulation by the Securities and Exchange Commission. Treats members of a controlled group of corporations as a single taxpayer. Denies capital gains treatment where the taxpayer is a "related party" to the SBPD issuer. Treats losses on small business participating debentures as ordinary losses. Allows an interest expense deduction for interest and share-of-earnings payments made on such debentures. Increases from 60 percent to 70 percent the deduction for capital gains from the sale or exchange of small business assets (equity interests in a business with net equity capital of less than $25,000,000). Reduces from 28 percent to 21 percent the alternative tax on such gain. 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 from 15 to 100 the permissible number of shareholders in a subchapter S corporation. Allows corporations engaged in marketmaking activities a limited deduction equal to the lesser of: (1) the amount of additions during the taxable year 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 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. Subtitle B: Capital Retention - Reduces corporate income tax rates. Revises the method for determining useful lives of business assets for purposes of computing allowable depreciation deductions. Replaces the asset depreciation range (ADR) method with a schedule of capital cost recovery periods for two classes of business property. Establishes capital cost recovery periods for the following classes of business property: (1) tangible property, five years; and (2) automobiles, taxis, and light-duty trucks (up to $100,000), three years. Permits calculation of the investment tax credit for such property without regard to the useful life of the property. Requires the recapture of depreciation amounts and investment tax credit amounts applicable to assets which are sold or otherwise disposed of prior to the expiration of the capital cost recovery period. Permits a taxpayer to deduct less than the full allowance for capital cost recovery in any taxable year. Permits a carryover to succeeding taxable years of any unused depreciation amounts. Disqualifies capital cost recovery property from the allowance for first year depreciation. Treats amounts claimed as the capital cost recovery of noncorporate lessors as an item of tax preference for purposes of the minimum tax. Adopts as an accounting practice the "half year convention" under which investments eligible for capital cost recovery treatment or the investment tax credit which are made at any time during the taxable year are deemed to be made in the middle of such year. Increases the accumulated earnings credit for corporations other than specified service corporations. Increases the allowable cost of used property eligible for the investment tax credit. Subtitle C: Employee Stock Options - 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) the 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. Subtitle D: Inventory Accounting for Small Businesses - Allows a qualified small business to elect the cash receipts and disbursements method of accounting regardless of any requirement to use inventories if: (1) the average annual gross receipts for the three preceding taxable years do not exceed $1,000,000; and (2) such small business was qualified for each of the two preceding taxable years. Allows a taxpayer who adopts the last-in, first-out (LIFO) method of accounting to spread increases in taxable income attributable to such change over a ten-year period. Permits a taxpayer who is required to change his method of accounting pursuant to Revenue Ruling 80-60 (inventory valuation) and Revenue Procedure 80-5 to effect such a change only for taxable years beginning after December 31, 1980. Title II: Estate and Gift Taxes - Increases the unified credit against the estate and gift taxes from $47,000 to $192,800. Makes such increase, in the case of the gift tax, in specified annual increments through 1985. Increases from $175,000 to $600,000 the minimum gross estate requiring filing of a return. Repeals the existing limitations on the marital deduction for gift and estate taxes. Increases from $3,000 to $6,000 the annual gift tax exclusion. 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 actively managed the property for ten years prior to 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. Repeals the $500,000 limitation on the reduction of the value of qualified real property permitted the special use valuation. Allows like kind exchange of property without loss of special use valuation qualification. Allows net crop share rentals to qualify for the special use valuation as well as cash rentals. Authorizes the step-up in basis of assets. Repeals the requirement that an heir elect special treatment for involuntary conversions of qualified real property, thus making such treatment automatic upon such conversion. 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. Authorizes an individual to elect to pay a gift tax rather than use the unified tax credit. 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.
United States · United States Congress · 3 February 1981
Expresses the sense of Congress that the President should implement the objectives of the International Year of Disabled Persons (1981).
United States · United States Congress · 3 February 1981
Expresses the sense of Congress that, in accordance with specified international agreements, the Soviet Union should provide proper medical care for Viktor Brailovsky and permit him to emigrate to Israel with his family. Urges the President to: (1) continue to express U.S. opposition to the imprisonment and treatment of Brailovsky; and (2) inform the Soviet Union that the United States, in evaluating its relations with other countries, will consider the extent to which those countries honor their commitments to human rights under international law.
United States · United States Congress · 29 January 1981
Declares that seven members of named families have resided since a certain date in the United States Embassy in Moscow and have been living there in accordance with United States laws. Authorizes the granting of a visa and admission to the United States for permanent residence to each individual. Provides that each individual shall be held and considered to have been lawfully admitted to the United States for permanent residence as of a specified date, and to have been physically present and residing therein continuously since such date.
United States · United States Congress · 29 January 1981
Child Care Agency Tax Amendments of 1980 - Amends the Internal Revenue Code to exempt from the windfall profit tax oil produced from interests held by or for a residential child care agency. Defines such an agency as a tax-exempt charitable organization operated primarily for the residential placement, care, or treatment of delinquent, dependent, neglected, or handicapped children.
United States · United States Congress · 29 January 1981
Amends the Internal Revenue Code to exempt interest paid on deposits by State and local governments of public funds, which are secured by tax-exempt securities, from provisions of the Internal Revenue Code which disallow income tax deductions for interest paid with respect to tax-exempt financing.
United States · United States Congress · 29 January 1981
Requests the President to designate March 16 of each year as "Freedom of Information Day."
United States · United States Congress · 27 January 1981
Federal Lending Program Control Act of 1981 - Declares that the purpose of this Act is to provide a basis for controlling loans and loan guarantees under Federal credit programs through the congressional budget process. Amends the Congressional Budget Act of 1974 to require the first concurrent resolution on the budget for each fiscal year to set forth the appropriate level of total gross obligations for the principal amount of direct loans and the appropriate level of total commitments to guarantee loans and to allocate such totals among the major functional categories of the budget. Directs each standing committee of the House and Senate to submit its estimates of direct loan obligations and loan guarantee commitments by March 15 of each year. Directs the House and Senate Banking Committees to submit recommendations to the Budget Committees for the aggregate levels of direct loans and loan guarantees in each fiscal year. Requires the joint explanatory statement accompanying a conference report on the concurrent resolution on the budget to include an estimated allocation of the total levels of direct loan obligations and loan guarantee commitments among the committees of the House and Senate. Directs the Committees on Appropriations to provide such an allocation among their subcommittees as soon as practicable after a budget resolution has been agreed to. Requires the House Committee on Appropriations, before reporting any regular appropriations bills, to submit a summary report to the House comparing the credit authority contained in such bills to the levels agreed to in the budget resolution Requires any report accompanying legislation conferring new budget authority or increasing tax expenditures to include information on direct loan obligations and loan guarantee commitments. Establishes a deadline for the completion of action on legislation providing credit authority. Requires the second concurrent resolution on the budget in any fiscal year and the reconciliation process to take into account Federal obligations and commitments on loans and loan guarantees. Declares out of order any measure brought up for consideration in either House which would increase the level of loan obligations and guarantee commitments agreed to in the budget process. Requires any authority to guarantee the payment of any indebtedness to be contingent on provisions in appropriation Acts. Amends the Budget and Accounting Act, 1921, to direct the President to include items relating to Federal loan obligations and guarantee commitments in the annual budget message to the Congress.
United States · United States Congress · 27 January 1981
Anti-Arson Act of 1981 - Establishes an Interagency Committee on Arson Prevention and Control to coordinate Federal anti-arson programs and to provide assistance to State and local governments for the prevention, detection, and control of arson. Directs the Committee to report to Congress on the success of its activities within 18 months of enactment. Terminates the Committee two years from the date of enactment. Requires the Director of the Federal Bureau of Investigation to: (1) classify arson as a major crime in the Uniform Crime Reports; and (2) develop a special statistical report for arson in cooperation with the National Fire Data Center. Directs the Administrator of the United States Fire Administration to: (1) conduct a research program for the development of techniques and equipment for use by State and local fire fighting and law enforcement personnel for arson prediction, prevention, and control; (2) establish anti-arson educational and training programs for State and local government; (3) develop materials for community awareness programs; and (4) provide information relative to the prevention, prediction, occurrence, and control of arson. Authorizes appropriations for the Administration for such purpose. Amends the National Housing Act to require that FAIR (fair access to insurance requirements) plans be issued only after insurers obtain information from a prospective policyholder with respect to arson.
United States · United States Congress · 27 January 1981
Makes the Federal tort claims procedure the exclusive remedy in medical malpractice actions resulting from federally authorized National Guard training activities (repeals the current provision covering such liability).
United States · United States Congress · 27 January 1981
Radio Deregulation Act of 1981 - Amends the Communications Act of 1934 to make licenses for the operation of a radio broadcasting station valid for an indefinite period of time. Permits any party in interest to petition the Federal Communications Commission for a revocation of such license. Requires such petition to contain specific allegations of fact to establish a prima facie case that the licensee has violated specific provisions of such Act or an order of the Commission. Requires the Commission to hold a hearing if a substantial and material question of fact is presented. Permits the Commission to grant an application for a license for a frequency in the radio broadcast service on a system of random selection. Requires the Commission to establish procedures for such selection within a specified period. Prohibits the Commission from requiring radio broadcast station licensees to provide specific types of programming or restricting the length or frequency of commercials. Requires the Commission to report to Congress annually on its progress in reviewing regulations applicable to radio broadcasting. Requires the Commission within three years to report to Congress on the impact of deregulation on radio programming.
United States · United States Congress · 27 January 1981
Patent Term Restoration Act of 1981 - Amends the patent law to extend the terms of patents which encompass specified products or a method for using a product, any of which are subject to certain nonpatent regulatory review periods. Sets forth the terms and conditions of such extension, including a seven year limitation. Directs the Commissioner of Patents to issue to the owner of record of a patent a certificate of extension stating the fact and length of the extension and identifying the product and the use and the claim to which such extension is applicable. Makes such certificate a part of the original patent. Limits the application of such patent term extension to patents for products subject to regulation under the Federal Food, Drug, and Cosmetic Act, the Public Health Service Act, the Federal Insecticide, Fungicide, and Rodenticide Act, the Toxic Substances Control Act, and the Act of March 4, 1913 (relating to virus, serum, toxin, and analogous products).
United States · United States Congress · 27 January 1981
Capital Cost Recovery Act of 1981 - Amends the Internal Revenue Code to revise the method for determining useful lives of business assets for purposes of computing allowable depreciation deductions. Replaces the asset depreciation range (ADR) method with a schedule of capital cost recovery periods for three classes of business property. Establishes capital cost recovery periods for the following classes of business property: (1) buildings and their structural components, ten years; (2) tangible property, five years; and (3) automobiles, taxis, and light-duty trucks (up to $100,000), three years. Permits calculation of the investment tax credit for such property without regard to the useful life of the property. Requires the recapture of depreciation amounts and investment tax credit amounts applicable to assets which are sold or otherwise disposed of prior to the expiration of the capital cost recovery period. Permits a taxpayer to deduct less than the full allowance for capital cost recovery in any taxable year. Permits a carryover to succeeding taxable years of any unused depreciation amounts. Disqualifies capital cost recovery property from the allowance for first year depreciation. Treats amounts claimed as the capital cost recovery of noncorporate lessors as an item of tax preference for purposes of the minimum tax. Adopts as an accounting practice the "half year convention" under which investments eligible for capital cost recovery treatment or the investment tax credit which are made at any time during the taxable year are deemed to be made in the middle of such year.
United States · United States Congress · 27 January 1981
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to repeal the limitation on outside income for beneficiaries age 65 or older.
United States · United States Congress · 23 January 1981
Savings and Retirement Income Incentive Act of 1981 - Amends the Crude Oil Windfall Profit Tax Act of 1980 to make permanent the income tax exclusion for dividend and interest income. Increases such tax exclusion for persons over age 65 to $500 ($1,000 for joint returns). Amends the Internal Revenue Code to increase to $2,000 the amount of the income tax deduction for contributions to individual retirement accounts. Eliminates the prohibition against certain pension plan participants (e.g. government and military personnel) from making deductible contributions to individual retirement accounts. Increases the amount of nondeductible contributions which an individual may make to an individual retirement account in a taxable year and over such individual's lifetime. Permits contributors to an individual retirement account to withdraw from such an account up to $10,000, without tax penalty, in order to purchase a first home or finance the higher education of a dependent child. Allows an income tax deduction for voluntary employee contributions to tax-qualified employer pension and annuity plans.
United States · United States Congress · 23 January 1981
Requests the President to designate the month of April 1981 as "Gospel Music Month."
United States · United States Congress · 22 January 1981
Grants a Federal charter to the United States Submarine Veterans of World War II.
United States · United States Congress · 22 January 1981
Constitutional Amendment - Defines "person" to include the unborn for the purpose of the right to life guarantee. Makes such amendment inapplicable to laws permitting medical procedures required to prevent the death of the mother.
United States · United States Congress · 21 January 1981
Expresses the jubilation and relief of the Senate at the release of the 52 Americans held hostage by Iran. Expresses appreciation for the efforts of various Government officials to secure the release of the hostages. Recognizes the patriotism of the military personnel who tried to rescue them. Thanks Algeria for its help in securing the hostages' release.
United States · United States Congress · 20 January 1981
Title I: Tax Treatment of Industrial Development Bonds Issued to Finance Pollution Control of Waste Disposal Facilities - Amends the Internal Revenue Code to define "air or water pollution control facilities," for purposes of the income tax exclusion of interest on industrial development bonds, to include depreciable equipment which is installed to control pollution through specified process changes in such pollution control facilities. Requires such equipment to meet Federal or State certification requirements in order to qualify for preferential tax treatment. Disallows an income tax exclusion for that portion of the bond proceeds which exceed the amount by which the acquisition and construction costs exceed the net profit reasonably expected to be derived through the recovery of wastes or by the operation of the pollution control facility over its useful life. Places specified dollar limits on the face amounts of obligations issued for air or water pollution control facilities at any new manufacturing or processing plant. Defines "hazardous waste or solid waste disposal facilities," for purposes of the exclusion of interest on industrial development bonds, to include depreciable property installed solely to comply with hazardous or solid waste management requirements imposed by the Solid Waste Disposal Act. Title II: Current Expensing of Amounts Paid or Incurred in Connection with the Construction or Erection of Pollution Control Facilities - Allows a taxpayer to elect to treat amounts paid or incurred in connection with the acquisition or construction of a certified pollution control facility as a currently deductible expense (amortizable over a period of 60 months under existing law). Revises the definition of "certified pollution control facility" to include treatment facilities made operational after January 1, 1976.
United States · United States Congress · 20 January 1981
Amends the Internal Revenue Code to permit taxpayers who do not itemize income tax deductions to claim a deduction from gross income for charitable contributions.
United States · United States Congress · 20 January 1981
Prohibits the issuance of any final Internal Revenue Service regulations which have the effect of increasing the rate of imputed interest with respect to: (1) loans between related organizations, trades, or businesses; or (2) deferred payments in the case of certain property sales.
United States · United States Congress · 19 January 1981
Title I: Export Trading Companies - Export Trading Company Act of 1981 - Directs the Secretary of Commerce to promote export trading companies by providing information and by facilitating contacts between producers of exportable goods and export trading companies. Authorizes any banking organization to invest specified amounts in export trading companies upon notifying, but without obtaining the prior approval of, the appropriate Federal banking agency, if such investment does not cause an export trading company to become a subsidiary of such organization. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations with prior approval of the appropriate Federal banking agency. Requires prior notification of such agencies in specified circumstances. Sets forth further limitations on export trading companies and investments by banking organizations. Specifies factors to be taken into consideration by the banking agencies. Permits such agencies to impose conditions in approving applications to invest in export trading companies. Requires such agencies to report to the appropriate Congressional committees with their recommendations concerning implementation of this Act, related changes in U.S. law, and effects of ownership of U.S. banks by foreign banking organizations. Provides for judicial review of denial orders in the appropriate U.S. Court of Appeals. Sets forth the grounds for disapproval. Provides for remand for further consideration by the banking agency. Directs the Economic Development Administration and the Small Business Administration to give special weight to export-related benefits when considering applications for loans and guarantees by export trading companies. Authorizes up to $20,000,000 to be appropriated for initial investments and operating expenses for each of fiscal years 1981-1985. Directs the Export-Import Bank of the United States to provide loan guarantees for expansion to export trading companies or exporters to be secured by accounts receivable or inventories when adequate financing is not otherwise available. Directs the Board of Directors to try to insure that a major share of such guarantees promotes exports from small, medium-size, and minority businesses or agricultural concerns. Title II: Export Trade Associations - Export Trade Association Act of 1981- Amends the Webb-Pomerene Act to exempt the export trade, export trade activities, and methods of operation of certified export trade associations and export trading companies from the antitrust laws. Delays the effectiveness of any certificate upon the notification of the Secretary of Commerce by the Attorney General or the Federal Trade Commission (FTC) of disagreement with the decision to issue a certificate. Sets forth the procedure to be followed by any association, company, or export trading company seeking certification under this Act and by the Secretary in issuing such certificates. Permits automatic certification for existing associations. Provides for appeal of the Secretary's denial of certification. Authorizes the Attorney General or the FTC to bring an action to invalidate a certification. Requires the Secretary, in consultation with the Attorney General and the FTC, to publish certification guidelines. Requires certified associations and export trading companies to submit annual reports to the Secretary. Directs the Secretary to establish within the Department of Commerce an Office of Export Trade. Requires such Office to report annually to the appropriate Congressional committees on all East-West trade transactions requiring validated licenses and on the role of U.S. export trading companies in such trade. Grants a temporary exemption from the Sherman Act antitrust provisions for existing associations. Requires, with specified exceptions, that all applications for certification be kept confidential. Authorizes the Secretary to require an association or trading company to modify its operation to be consistent with international obligations of the United States. Directs the President to appoint, with the Senate's advice and consent, a task force, seven years after enactment, to examine the effect of this Act and to make recommendations.
United States · United States Congress · 15 January 1981
Designates January 15, the birthday of Martin Luther King, Junior, as a legal public holiday.
United States · United States Congress · 15 January 1981
Grants a Federal charter to the Pearl Harbor Survivors Association.
United States · United States Congress · 6 January 1981
Steel Industry Compliance Extension Act of 1981 - Amends the Clean Air Act to authorize the Administrator of the Environmental Protection Agency to extend the date for compliance with emission limitation requirements by owners or operators of a stationary source in an iron- and steel-producing operation if: (1) the compliance date extension is necessary to allow the applicant to make capital investments in its operations to improve efficiency and productivity; (2) the funds freed by such extension will be used within two years for additional capital investments in the applicant's operations; (3) the Administrator and the applicant agree to a phased compliance program for each of the applicant's stationary sources; (4) the applicant has sufficient funds to comply with such program; (5) the applicant is in compliance with any existing Federal decrees applicable to its operations; and (6) the compliance date extension will not result in the degradation of air quality during the extension term. Prohibits the imposition of a noncompliance penalty under the Clean Air Act upon an owner or operator with a compliance date extension provided their stationary source remains in compliance with all the requirements of such extension. Makes available to the public all information obtained by the Administrator under this Act, subject to a specified exception. States that revision of a State implementation plan is not required because a compliance date extension has been granted if such plan would have met Clean Air Act requirements prior to the granting of such extension.
United States · United States Congress · 6 January 1981
Amends the Internal Revenue Code to increase from 60 percent to 75 percent the noncorporate capital gains deduction from gross income. Reduces the alternative minimum tax rate. Reduces from 28 percent to 17.5 percent the corporate alternative tax rate on capital gains.
United States · United States Congress · 6 January 1981
Amends the Clean Air Act to repeal the requirement that State implementation plans for meeting the national primary ambient air quality standard provide for periodic inspection and testing of motor vehicles.
United States · United States Congress · 6 January 1981
Commission on Presidential Nominations Resolution - Establishes the Commission on Presidential Nominations to make an investigation regarding the presidential nominating process. Directs the Commission to report to the President and Congress respecting such investigation including recommendations for the 1984 presidential elections. Terminates the Commission 60 days after submission of such report. Sets forth the powers of such Commission, and related administrative provisions. Authorizes necessary appropriations.
United States · United States Congress · 6 January 1981
Commends James duMaresq Clavell for his contributions to literature.
United States · United States Congress · 5 January 1981
State and Local Government Fiscal Note Act of 1981 - Amends the Congressional Budget Act of 1974 to require the Director of the Congressional Budget Office to estimate the costs which would be incurred by State or local governments in complying with any bill or resolution (likely to result in annual costs greater than $200,000,000 or have exceptional fiscal consequences) and compare such estimates with any made by congressional committees or Federal agencies. Authorizes appropriations.
United States · United States Congress · 5 January 1981
Grants a Federal charter to the Italian American War Veterans of the United States.
United States · United States Congress · 5 January 1981
Amends the Internal Revenue Code to extend the business expense deduction to any trade or business conducted in the home of the taxpayer. Eliminates the restrictions on the deductibility of expenses relating to the rental of a residence to a family member. Permits a taxpayer to make repairs on rental properties on a full-time basis without being treated as using such properties for personal purposes.
United States · United States Congress · 5 January 1981
Repeals the Federal requirement of incremental pricing under the Natural Gas Policy Act of 1978.
United States · United States Congress · 5 January 1981
United States - Mexico Good Neighbor Act of 1981 - Amends the Immigration and Nationality Act to direct the Attorney General to establish a program for the nonimmigrant admission of Mexican nationals as temporary workers in the United States. Directs the Attorney General to establish annual and monthly quotas for temporary worker visas. Limits temporary services or labor to 240 days per year. Stipulates that such visas shall not limit the geographic area within which an alien may work unless specific restrictions are requested by the Secretary of Labor in order to protect domestic workers. Makes an alien who violates the 240-day visa limitation or any imposed geographic restriction ineligible for another temporary visa for five years. Makes an alien who enters the United States illegally ineligible for a temporary work visa for ten years. Excludes such temporary Mexican workers from the definition of "immigrant" for purposes of the Immigration and Nationality Act. Includes such workers within the category of aliens whose nonimmigrant status may not be adjusted to that of an immigrant. Prohibits the Attorney General from consenting to the reapplication for admission of any such workers deported from the United States. Requires the Attorney General to report semiannually to Congress regarding the temporary worker visa program. Authorizes the Secretary of State to establish and expand United States Consulates in Mexico in order to implement such temporary worker program. Directs the Secretary of Labor to make the nature of such program known to Mexican nationals residing in the United States. Expresses the sense of the Congress that the President should establish with Mexico an Advisory Commission on the Mexico-United States Temporary Worker Visa program to advise the Attorney General with regard to such program. Authorizes necessary appropriations. Terminates such Mexican worker program ten years after enactment of this Act.
United States · United States Congress · 5 January 1981
Amends the Internal Revenue Code to exempt a certain portion of royalty owner oil production from the windfall profit tax. Limits the amount so exempted per quarter to ten barrels per day. Requires proportionate allocation of any production in excess of ten barrels per day between tier 1 oil, tier 2, and tier 3 oil, and within any tier on the basis of removal prices. Requires allocation of the ten barrel amount among royalty owners who are members of the same related group.
United States · United States Congress · 5 January 1981
Amends the Flood Control Act of 1965 to terminate the authorizations for the Lafayette, Big Pine, Clifty Creek, and Big Blue Dams and Reservoirs on the Wabash River, Indiana.
United States · United States Congress · 5 January 1981
Amends the Internal Revenue Code to allow an income tax deduction for cash and other personal property contributions to a savings account created or organized exclusively for the purpose of paying the educational expenses of the taxpayer or the taxpayer's child. Limits the amount of such deduction to $1,000 per year, adjusted for inflation. Limits eligibility for such deduction to the taxpayer and the taxpayer's child unless such child reaches age 21 by the year of contribution to the account, or is enrolled in an institution of higher education or vocational school for more than four weeks during such year. Excludes distributions from such an account from the gross income of the payee so long as such distributions are used to defray the beneficiary's tuition, fees, books and supplies, and reasonable living expenses. Specifies sanctions for the use of account funds for other than such educational purposes. Treats qualified distributions as income to the beneficiary for the taxable year in which the beneficiary attains age 25, and for each of the following nine years, in successive apportionments equal to ten percent of the total amount of such distributions. Allows a deduction for cash and other personal property contributions to a savings account created or organized for the benefit of the taxpayer (or the taxpayer and spouse if married) for the exclusive purpose of purchasing such individual's first principal residence. Limits the maximum annual deduction to $1,500 ($3,000 in the case of married individuals filing jointly), with a maximum lifetime deduction of $15,000 ($30,000 in the case of married individuals filing jointly). Provides for annual inflation adjustment of such amounts. Excludes distributions from such account from gross income so long as they are used exclusively for the purchase of a first principal residence. Provides for recapture of such distribution upon a subsequent sale of such first residence if another house is not purchased with the proceeds. Requires reduction of the $100,000 exclusion from gross income of proceeds from the sale of a principal residence by a taxpayer 55 years of age or older if such residence had been purchased with distributions from a tax-exempt housing savings account. Limits the amount of such reduction to the amount of any such distribution excluded from gross income.
United States · United States Congress · 5 January 1981
Amends the Internal Revenue Code to allow an income tax deduction for cash contributions made by an eligible employee to certain retirement savings and pension plans. Limits the amount of such deduction to the lesser of 15 percent of the employee's gross compensation or $1,000. Defines "eligible employee" as an employee who is an active participant for any part of the taxable year in: (1) a tax-exempt pension or profit-sharing plan; (2) an annuity plan; (3) a qualified bond purchase plan; or (4) a group retirement trust maintained by a labor organization.
United States · United States Congress · 5 January 1981
Amends the Internal Revenue Code to allow married couples, who do not file a single joint tax return with their spouses, to elect the same tax rates currently applicable to unmarried individuals (other than surviving spouses and heads of households), without regard to any community property laws. Entitles any married individual making such an election to claim the income tax credit for dependent care services, even though such individual did not contribute over half of the support of the dependent concerned.
United States · United States Congress · 5 January 1981
Employment Tax Act of 1981 - Amends the Internal Revenue Code to specify standards for determining whether certain individuals qualify as independent contractors for purposes of the tax on employment income. Treats an individual as an independent contractor if such individual: (1) controls the total number of his work hours; (2) does not maintain a principal place of business, or, if he does, such place of business is not provided, or is not provided rent-free, by the person for whom such individual performs services; (3) has substantial investment in his business and earns income based upon sale or output rather than upon number of hours worked; and (4) performs services pursuant to a written contract and is provided written notice of his responsibility with respect to income and self-employment taxes. Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to exclude from social security coverage service performed by an individual who qualifies as an independent contractor under the standards established by this Act.
United States · United States Congress · 5 January 1981
Requests the President to designate the week beginning with the Sunday preceding the fourth Thursday in November of each year as "National Family Week."
United States · United States Congress · 5 January 1981
Constitutional Amendment - Requires a two-thirds vote of both Houses of Congress to pass any concurrent resolution on the budget which carries a deficit.