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United States · Official source
2,614 records where Sen. Mitchell, George J. [D-ME] is listed as a sponsor, author, or other actor. Search with topics and years
United States · United States Congress · 3 August 1981
Disapproves the final rule promulgated by the Secretary of Commerce dealing with the Federal consistency provisions of the Coastal Zone Management Act of 1972.
United States · United States Congress · 31 July 1981
Amends the Tariff Schedules of the United States to lower the column one tariff on fish netting and fishing nets of textile materials other than cotton or vegetable fibers from 25 cents per pound plus 32.5 percent ad valorem to 17 percent.
United States · United States Congress · 31 July 1981
Amends the Magnuson Fishery Conservation and Management Act to declare that the United States shall assume exclusive fishery management authority over all fish within a specified fishery conservation zone (currently excludes highly migratory species).
United States · United States Congress · 30 July 1981
Requests the President to designate the week beginning October 4, 1981, as "National Port Week."
United States · United States Congress · 16 July 1981
Expresses the sense of the Senate that the President should: (1) negotiate an agreement limiting the export from Canada to the United States of both seed and tablestock potatoes; and (2) issue regulations to carry out such agreement.
United States · United States Congress · 15 July 1981
Environmental Poisoning Compensation Act - Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (the "Superfund Act") to extend the liability of specified owners, operators, or other responsible persons under such Act to cover any out-of-pocket medical expenses for personal injury resulting from a release of hazardous substances. Excludes liability for such medical expenses from the limitations on the amounts of liability set forth in such Act. Provides that such claims for medical expenses may be asserted against the Hazardous Substance Response Fund. Includes damages for personal injury under the definition of damages. Lowers (from 85 percent) to 66 2/3 percent the amount of the money credited to the Fund which is to be available only for certain purposes relating to governmental and other persons' response costs and to other specified governmental costs. Raises (from $1,380,000,000) to $3,000,000,000 the sum of the amounts received in the Fund which must be reached for the authority to collect environmental taxes (on petroleum and certain chemicals) to be terminated before September 30, 1985.
United States · United States Congress · 15 July 1981
Requests the President to designate October 16, 1981, as "World Food Day."
United States · United States Congress · 13 July 1981
Requests the President to designate the second full week in October of each year as "Legal Secretaries' Court Observance Week."
United States · United States Congress · 8 July 1981
Commends the disabled individuals who climbed Mount Rainier, Washington, on July 3, 1981.
United States · United States Congress · 25 June 1981
Low-Income Fuel and Weatherization Supplementary Assistance Act - Authorizes the Secretary of Health and Human Services to make grants to States to assist households with incomes below a specified level to meet home energy costs. Authorizes to be appropriated for fiscal years 1982 through 1986 to carry out such program 100 percent of all funds received by the Federal Government from collections and settlements for fuel overcharges, less all identifiable legitimate claims for such overcharges. Grants to the Governor of a State the discretion to allocate such grants as needed. Allocates funds for States, U.S. territories and possessions, and Indian tribes. Requires that a reasonable amount of such funds be reserved by each State for energy crisis intervention. Requires a State to submit to the Secretary an application for each fiscal year. Conditions allotments after the first fiscal year in which a State receives funds on the holding of public hearings in such State on the use and distribution of such funds. Requires that an applicant State agree to: (1) use such funds in accordance with this Act; (2) describe the households eligible for home energy assistance and give priority to certain households; (3) conduct outreach activities to inform people of the availability of such assistance; (4) coordinate activities with similar State and Federal programs; (5) describe the amount of assistance to be provided to participating households; (6) give special consideration in designating local administrative agencies to local public or private nonprofit agencies receiving funds under any other low-income energy assistance or weatherization program; (7) establish notification procedures in connection with direct payments by the State to home energy suppliers; (8) treat owners and renters equitably under the program under this Act; (9) use a maximum of ten percent of the State allotment for administrative expenses; (10) provide for fiscal control and fund accounting procedures and prepare an annual audit of expenditures under such program; and (11) cooperate with any Federal investigations pursuant to this Act. Requires the State to repay to the United States any amounts not expended under this Act. Authorizes the Secretary to offset such amounts against future grants to such State. Prohibits exclusion from participation in, or denial of benefits from, any program or activity funded under this Act on the basis of race, color, national origin, sex, age, or handicap. Directs the Secretary to withhold funds from any State which does not use its allotment in accordance with this Act. Prohibits the Secretary from withholding funds from a State for a minor failure to comply with this Act. Requires the Secretary to conduct investigations in States to evaluate and insure compliance with this Act. Prohibits the use of grants under this Act for the purchase or improvement of land or for the purchase, construction, or permanent improvement of any building or facility, except under specified circumstances.
United States · United States Congress · 25 June 1981
Straddles Tax Act of 1981 - Amends the Internal Revenue Code to provide that any loss from the holding of one or more positions in certain securities shall be recognized, for income tax deduction purposes, only to the extent that it exceeds the unrealized gain (gain which would be recognized if the position had been sold at its fair market value) from the holding of one or more positions which: (1) were acquired before the disposition resulting in the loss; (2) were offsetting positions; and (3) were not part of an identified straddle. Defines "offsetting position" to mean that there is a substantial reduction of the taxpayer's risk of loss from holding any position with respect to securities because the taxpayer also holds one or more other positions with respect to such securities (commonly referred to as a "straddle"). Creates a rebuttable presumption that two or more positions are offsetting, for purposes of the definition of a straddle, if: (1) they are in the same personal property, although they may be in a substantially altered form; (2) they are in debt instruments of a similar maturity or certain other debt instruments; (3) they are sold or marketed as such; (4) the aggregate margin requirement for such positions is lower than the sum of the margin requirement for each such position; or (5) there are other factors, as determined by the Secretary of the Treasury pursuant to regulations, which indicate that such positions are offsetting. Imposes a penalty upon a taxpayer who fails to report each position held with respect to which there is unrealized gain. Disallows as a deduction, and makes chargeable to capital account, interest and carrying charges with respect to personal property which is part of a straddle. Treats as sold at its fair market value any regulated futures contract held by the taxpayer at the close of the taxable year. Treats gain or loss with respect to such a contact as: (1) short-term capital gain or loss, to the extent of 40 percent of the gain or loss; and (2) long-term capital gain or loss, to the extent of 60 percent of the gain or loss. Exempts from the loss recognition provisions of the Internal Revenue Code any straddle consisting entirely of offsetting positions which are regulated futures contracts. Defines "regulated futures contract" as a contract: (1) which requires delivery of personal property; (2) with respect to which amounts deposited and withdrawn depend on a system of marking to market; and (3) which is traded on or subject to the rules of certain boards of trade. Exempts from the application of such rules any hedging transaction. Defines "hedging transaction" as any transaction: (1) which is entered into in the course of the trade or business primarily to reduce certain types of risk with respect to property or borrowing; and (2) which is clearly identified as such. Limits the three-year carryback of losses from regulated futures contracts to an amount which: (1) does not exceed the lesser of the capital gain net income from regulated futures contracts or all of the capital gain net income; and (2) does not increase or produce a net operating loss. Provides that obligations of the United States, a State or local government, or a U.S. possession issued on a discount basis and payable without interest in less than one year shall be treated as capital assets in determining tax consequences of gain or loss with respect to such obligations. Treats as ordinary income any gain realized from the sale or exchange of short-term government obligations which does not exceed an amount equal to the ratable share of the excess of the stated redemption price at maturity over the taxapayer's basis. Requires dealers in securities to identify securities which they acquire for personal investment purposes on the day such securities are acquired, for purposes of the capital gains tax treatment of such securities. Excludes from capital gains tax treatment gains by a securities dealer from the sale or exchange of any security, unless the security was clearly identified in the dealer's records before the end of the day after the date of acquisition, as a security held for investment (currently, before the end of the 30th day after the date of acquisition).
United States · United States Congress · 25 June 1981
Expresses the sense of the Senate that the parties to the major league baseball strike should enter into round-the-clock negotiations to reach a settlement.
United States · United States Congress · 18 June 1981
Research and Experimentation Equipment Donations Tax Act of 1981 - Amends the Internal Revenue Code to provide a deduction for a qualified research or education contribution by a corporation to a governmental unit or tax-exempt organization if: (1) the property donated is constructed by the taxpayer; (2) the contribution is made not later than two years after construction is completed; (3) the property is not exchanged for value; (4) the property is to be used by the donee solely for research or educational purposes; and (5) the taxpayer receives a written statement from the donee. Provides that the amount of the charitable contribution shall not be reduced for such qualified research or education contributions. Provides special rules for inventory placed in service by the taxpayer.
United States · United States Congress · 18 June 1981
Amends the Tariff Schedules of the United States to repeal the tariff on button blanks.
United States · United States Congress · 10 June 1981
Condemns the violence in Northern Ireland. Urges the exploration of all possible steps to avoid further deaths in the hunger strike and to achieve an immediate and humanitarian resolution of the strike issues. Urges Great Britain to exercise greater flexibility in administering prison rules in Northern Ireland and to invite the European Commission on Human Rights or other appropriate independent parties to participate in settling the strike. Urges the political leaders in Great Britain, Northern Ireland, and the Republic of Ireland to seek the earliest possible settlement in Northern Ireland through a negotiated agreement. Requests the President to express to the Prime Minister of Great Britain, American concern for an immediate hunger strike settlement and a lasting settlement of the conflict in Northern Ireland.
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 · 4 June 1981
Former Presidents Facilities and Services Reform Act of 1981 - Title I: Presidential Libraries - Directs the Administrator of General Services, in consultation with the Archivist of the United States and the Commissioner of the Public Buildings Service, to promulgate architectural and design standards for Presidential archival depositories. Authorizes the Administrator to accept, as private gifts or pursuant to agreements with State or local governments, institutes, or foundations, only such land, buildings, and equipment as are necessary to establish one depository in one building of a specified size for each President or former President. Requires the Administrator to submit a prospectus for each proposed depository to specified congressional committees. Prohibits the Administrator from accepting a gift or entering into an agreement to establish a depository if: (1) such committees adopt a resolution disapproving such prospectus within a specified period; or (2) the land, buildings, and equipment do not meet the architectural and design standards, unless Congress adopts a concurrent resolution approving the establishment of such depository regardless of noncompliance with such standards. Establishes similar restrictions governing changes to a depository. Requires the President, while holding office, to dispose of his or her Presidential records which have no administrative, historical, informational, or evidentiary value after obtaining the views of the Archivist of the United States concerning such disposal, unless the Archivist notifies the President that the Archivist intends to request advice from certain Congressional committees. Title II: Former Presidents - Changes the amount of the annual allowance to which the spouse of a deceased former President is entitled from $20,000 to two-thirds of the allowance to which a former President is entitled. Repeals the requirement that the spouse must waive the right to any other Government annuity or pension to qualify for such allowance. Authorizes the Administrator to provide to each former President, upon request: (1) one office; (2) compensation, without an aggregate ceiling, for members of an office staff who shall be subject to certain provisions of civil service laws; (3) payment for the travel and subsistence allowances for specified office employees; (4) communications services; and (5) printing and binding expenses. Allows any Federal employee to be detailed to the office staff of a former President with the consent of the employee's agency head. Authorizes the Administrator to provide a former Vice President with necessary services and facilities for winding up his or her office affairs which are similar to the services and facilities provided to a former President under this title. Prohibits the use of funds provided for necessary services and facilities of a former President or Vice President for partisan political activities or income generating activities. Permits a former President to use such funds to prepare his or her memoirs if the former President signs an agreement providing that the Public Printer will print and distribute such memoirs. Prohibits the expenditure of such funds for a former President any time beyond 90 days after the former President dies. Requires each former President to submit to Congress an annual report concerning activities carried out with the assistance of such funds. Authorizes appropriations to carry out the provisions of this title concerning the services and facilities to be provided for former Presidents and Vice Presidents. Repeals specified provisions of the Presidential Transition Act of 1963. Title III: Protection of Former Presidents, Former Vice Presidents, and Their Families - Prohibits the United States Secret Service from protecting a former President, former Vice President, or the spouse, widow, widower, or minor child of a former President except as authorized under this title. Authorizes the Secret Service to protect: (1) a former President for eight years after the individual becomes a former President; (2) the spouse or minor child of a former President to the extent that such protection is incidental to the protection of the former President; and (3) the widow or widower of a former President for six months after the former President dies. Permits the Secretary of the Treasury to reinstate the Secret Service protection of a former President for one year and of a spouse or minor child for six months after the original protection has been terminated upon finding that a serious threat warranting such protection exists. Authorizes additional extensions of such periods of protection upon the individual's written request and with the approval of an existing advisory committee established to determine whether protection should be furnished to certain Presidential or Vice Presidential candidates. Establishes the Advisory Panel on Secret Service Protection to review requests for extended protection and to make recommendations on such requests to such advisory committee. Permits the Secretary to authorize Secret Service protection for a former Vice President for a period beginning on the last day of the individual's Vice Presidential term and ending on the last day of the fiscal year in which the term expires, upon the former Vice President's written request, and upon finding that a threat exists which warrants such protection.
United States · United States Congress · 3 June 1981
Commercial and Multifamily Energy Tax Credit Act - Amends the Internal Revenue Code to revise the definition of specially defined energy property, for purposes of the investment tax credit, to: (1) extend treatment as a reduction of energy consumption in a commercial process to any reduction by a commercial facility (including hotels, office buildings, or educational, health care, or retail or wholesale trade facilities) in which the property specified is installed; and (2) include specified additional equipment and devices. Extends the residential energy credit to lessors of dwelling units. Reduces the amount of the credit which is allowed to lessors who take the depreciation deduction. Increases, for purposes of such credit, the allowable energy conservation and renewable energy source expenditures. Extends through 1985 the period for which the general energy percentage, for purposes of the investment tax credit, is applicable.
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 · 20 May 1981
Prohibits through December 31, 1982, the issuance of any regulations by the Internal Revenue Service on employee fringe benefits.
United States · United States Congress · 20 May 1981
Expresses the sense of the Senate that combating violent crime should be a national priority.
United States · United States Congress · 19 May 1981
Expresses the sense of the Senate that the continued access of farmer-owned oil refining cooperatives and independent oil refining businesses to crude oil at reasonable prices must be assured.
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
Amends the Omnibus Crime Control Act of 1970 to revise the mandatory penalties for using or carrying a firearm during commission of a Federal felony. Extends to first offenders the stipulations, currently applicable only to second offenders, that the court not suspend any sentence, grant probation, or impose concurrent sentences. Prohibits the granting of parole to any offender.
United States · United States Congress · 13 May 1981
Inventory Simplification and Reform Tax Act of 1981 - Amends the Internal Revenue Code to eliminate the qualification requirement for the last-in, first-out (LIFO) method of accounting that a taxpayer use no inventory method for financial reporting or credit purposes other than the LIFO method. Allows a taxpayer who adopts the LIFO method to spread increases in taxable income attributable to such change over a ten-year period. Allows an election by small businesses which use the dollar method of pricing inventories under the LIFO method and which have average annual receipts of $5,000,000 or less for the three taxable years ending with the year of election to use one inventory pool for any trade or business. Permits a wholesaler or retailer who uses such method to elect the use of inventory pools based on the applicable Government price index categories for all items of inventory. Allows the use of such index categories in the pricing of inventories under such dollar-value methods. Allows an election to use a link chain or index method to compute the LIFO value of dollar-value pool without regard to suitability or practicality of any other method. Repeals the requirement, with respect to liquidation plans adopted after December 31, 1981, that a corporation inventorying goods under the LIFO method treat the LIFO recapture amount with respect to distributed inventory assets as gain from the sale of such assets. Allows an election by small businesses which are at least half-owned by active participants in the trade or business and which have average annual gross receipts of $1,500,000 or less for the three taxable years ending with the year of election to use the cash receipts and disbursements method of accounting without regard to any inventory requirements.
United States · United States Congress · 13 May 1981
Expresses the concern of the Senate over the attack on Pope John Paul II.
United States · United States Congress · 13 May 1981
Declares that it is the sense of the Senate that the Senate Committee on Banking, Housing, and Urban Affairs should study, and report to Congress no later than August 1, 1981, on the advisability of seeking institutional reforms in the structure and operation of the Federal Reserve System as may be required to provide a stable and positive economic environment for growth and investment while reducing inflationary pressures. Requires such study to include: (1) the feasibility of implementing a dual prime rate; and (2) the advisability of increased Congressional supervision of policies affecting the Nation's monetary system.
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 · 8 May 1981
Amends the Uniform Time Act of 1966 to extend daylight saving time from the first Sunday in March rather than the last Sunday of April through the first Sunday in November rather than the last Sunday in October.
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 · 5 May 1981
States the disapproval of the Senate to proposed deferrals of budget authority D81-95 and D81-96 for Veterans' Administration medical care.
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
Deauthorizes that component of the Dickey-Lincoln School lakes project, Saint John River, Maine, known as the Dickey Dam and its associated transmission facilities.
United States · United States Congress · 29 April 1981
Employee Retirement Savings Contribution Act of 1981 - Amends the Internal Revenue Code to permit participants in tax-qualified retirement savings plans to make tax deductible contributions to such plans and to individual retirement accounts (IRA) to the extent of $2,000 or 15 percent of taxable compensation, whichever is lesser. Permits government employees not subject to social security taxes to claim a tax deduction for contributions to a retirement savings plan of up to $2,000, to the extent that contributions exceed the amount they would otherwise pay in social security taxes. Increases the maximum income tax deduction for contributions to an IRA to $2,000 ($2,250 for spousal IRAs). Treats employee contributions to retirement savings plans as employer contributions for purposes of the tax treatment of such contributions.
United States · United States Congress · 29 April 1981
Establishes a Special Joint Committee on the Centennial of the Birth of Franklin Delano Roosevelt. Directs that such committee be composed of sixteen Members of the Congress. Directs that such committee shall prepare an overall program for nationwide observances and make comprehensive plans for commemorating the one hundredth anniversary of the birth of Franklin Delano Roosevelt, including a joint session of Congress to be held on January 29, 1982. Provides that such committee shall terminate not later than April 30, 1982.
United States · United States Congress · 28 April 1981
Coastal Barrier Resources Act - Declares the findings and intentions of Congress in regard to the fish, wildlife, and other natural resources associated with the coastal barriers along the Atlantic and Gulf coasts of the United States. Establishes the Coastal Barrier Resources System (System) which shall consist of specified undeveloped coastal barriers on the Atlantic and Gulf coasts. Requires that certain coastal barrier maps shall be available for public inspection through the United States Fish and Wildlife Service. Directs the Secretary of the Interior to provide copies of such maps to the chief executive officer of: (1) each State and political subdivision in which a System unit is located, and (2) each affected Federal agency. Directs the Secretary to make necessary modifications to such maps and to notify specified Congressional committees of the same. Limits, to specified projects, Federal expenditures on such projects or financial assistance for purposes within the System. Lists those projects eligible for financial assistance. Requires the Director of the Office of Management and Budget to certify annually to Congress that the Federal agencies concerned have complied with the provisions of this Act. Declares that no provision of this Act shall be construed to invalidate any provision of State or local law. Sets forth the contents of reports to be filed by the Secretary with specified Congressional committees. Authorizes appropriations to the Department of the Interior for fiscal years 1982 through 1986 for the purposes of this Act.
United States · United States Congress · 27 April 1981
Excludes from determinations of authorized end strengths and grade limitations of the Department of Defense or the military departments retired officers of the armed forces recalled to active duty with the American Battle Monuments Commission.
United States · United States Congress · 8 April 1981
Veterans' Disability Compensation and Survivors' Benefits Act of 1981 - Title I: Veterans' Disability Compensation Benefits - Increases the rates of veterans' compensation for: (1) wartime disability compensation; or (2) additional compensation for dependents; and (3) clothing allowances paid to certain disabled veterans. Title II: Survivors' Dependency and Indemnity Compensation Benefits - Increases the rates of veterans' dependency and indemnity compensation for: (1) a surviving spouse; (2) surviving children; and (3) supplemental children's benefits. Title III: Effective Date - States that the provisions of this Act shall take effect on October 1, 1981.
United States · United States Congress · 8 April 1981
Extends from December 31, 1981, to September 30, 1982, the authority of the Administrator of Veterans' Affairs to contract for hospital care or medical services in Puerto Rico and the Virgin Islands without reference to patient loads or incidence of provision of medical services for veterans treated by the Veterans' Administration in the contiguous 48 states.
United States · United States Congress · 8 April 1981
Requests the President to designate August 13, 1981, as "National Blinded Veterans Recognition Day."
United States · United States Congress · 8 April 1981
Declares it to be the sense of the Senate that U.S. representatives to the World Health Assembly in May 1981 should vote in favor of the "International Code of Marketing of Breastmilk Substitutes" and that American and other countries' infant formula industries should comply with such code.
United States · United States Congress · 7 April 1981
Small Business Innovation Research Act of 1981 - Amends the Small Business Act to direct the Small Business Administration (SBA) to: (1) maintain an information program to provide small businesses an opportunity to participate in Federal small business innovation research (SBIR) programs; (2) coordinate a schedule for release of agency SBIR solicitations and prepare a master release schedule; (3) monitor SBIR programs within Federal agencies; and (4) report annually to the Congressional Small Business Committees on the SBIR programs. Requires each Federal agency with a research and development budget in excess of $100,000,000 in fiscal year 1982 or any subsequent fiscal year to spend a specified percentage of its budget in connection with an SBIR program. Requires each Federal agency with a research and development budget in excess of $20,000,000 for fiscal year 1982 or any subsequent fiscal year to establish specific goals for funding research and development agreements with small businesses. Directs each Federal agency with an SBIR program to report annually to the SBA the number of awards over $10,000 in amount made under the SBIR program and to concerns other than small business concerns. Directs the Administrator of the Office of Federal Procurement Policy, in conjunction with the SBA, to promulgate regulations for the conduct of the SBIR programs. States that this Act does not authorize the appropriation of funds.
United States · United States Congress · 7 April 1981
Economic Equity Act - Title I: Tax and Retirement Matters - Amends the Internal Revenue Code to provide that the maximum deduction for contributions to an individual retirement plan: (1) shall be computed separately for each individual who is married; and (2) in the case of a married individual who has no compensation or less compensation than that of the spouse, shall be determined as if such compensation were the same as that of the individual's spouse. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to require that a retirement plan that provides an annuity to a participant with at least ten years of creditable service shall provide a survivor's annuity for the spouse of a participant who dies before the annuity starting date in an amount not less than the amount that would have been made under the survivor's annuity if the participant had survived and retired on such annuity date. Provides that a participant's election not to take a joint and survivor's annuity shall not be effective unless the spouse of the participant consents in writing to such an election. Allows the assignment of the benefits of a qualified retirement plan in the case of a judgment decree or order relating to child support, alimony payments, or marital property rights pursuant to a State domestic relations law. Amends ERISA to lower the age limitation for participation in a qualified retirement plan from age 25 to age 21. Amends ERISA and the Internal Revenue Code to provide for accruals of creditable service to continue while an individual is on approved maternity or paternity leave at the rate of 20 hours service for each week of approved leave. Amends the Internal Revenue Code to: (1) increase the zero bracket amount; (2) lower the tax rate; (3) decrease withholding requirements; and (4) increase minimum filing requirements for heads of households. Entitles former spouses of members of the uniformed services, civil service employees, and Members of Congress, who were married for at least ten years during creditable service, to an annuity based upon a portion of retired or retainer pay. Amends the Survivor Benefit Plan of the uniformed services to make former spouses eligible for annuities under such plan. Provides for survivor's annuities for surviving former spouses of civil service employees or Members of Congress. Provides that the election of a member of the uniformed services, civil service employee, or Member of Congress not to make a joint and survivor's annuity shall not be effective unless the spouse and any former spouse consents in writing to such an election. Amends the Internal Revenue Code to provide a tax credit to employers of displaced homemakers. Title II: Day Care Program - Amends the Internal Revenue Code to revise the formula for determining the tax credit for household and dependent care services necessary for gainful employment. Provides that such credit may exceed tax liability. Increases the dollar limit for such credit from $2,000 to $2,500 (from $4,000 to $5,000 for two or more dependents). Allows a higher limit in the case of a taxpayer with children under two years of age. Increases the earned income limitation for such credit in the case of a spouse who is a student or incapable of self-care. Provides that employers may make advance payments of the credit to qualified employees. Excludes from gross income of an employee any amounts paid or expenses incurred by the employer for dependent care assistance to such employee. Title III: Armed Forces - Revises the rules for the distribution of the property of deceased members of the Air Force and Army by removing any gender distinctions from such rules. Establishes a distribution formula based on six classes: (1) beneficiary named in a will; (2) surviving spouse; (3) children; (4) parents; (5) siblings; and (6) next of kin. Eliminates sexual distinctions with regard to promotion procedures and procedures to remove reserve officers from active duty status in the Naval and Marine Corps Reserve. Requires the Secretary of Defense to make an annual report to the Congress concerning the status of women in the armed forces. Title IV: Estate Tax on Agricultural Property and Farm Loans - Amends the Internal Revenue Code to increase the unified credit against the estate and gift tax from $47,000 to $192,800 by specified annual increments through 1985. Increases the minimum gross estate requirement for filing a return from $175,000 to $600,000. Qualifies estates of decedents who were disabled or retired for the special valuation of certain farms based on use if they 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 during the period beginning on the date of deaths of the decedent and ending on the date of death of the spouse. 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 received 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. Provides that the interest rate on extended payments of estate taxes shall be the lower of six percent or 75 percent of the prime rate. Amends the Consolidated Farm and Rural Development Act to remove the preference to married persons in receiving farm improvement loans. Title V: Nondiscrimination in Insurance Act - Prohibits discrimination on the basis of race, color, religion, sex, or national origin in the consideration of applications for, or the granting of, insurance policies and the terms of such policies. Permits insurers who regularly provide insurance solely to persons of a single religious affiliation to continue to do so. Grants to State or local governments having insurance discrimination laws the primary opportunity to enforce this Act. Permits an aggrieved person to file a civil action in State or Federal court against an insurer, if a State or local authority: (1) has received notice of a complaint and fails to act within 60 days; or (2) has no insurance discrimination laws. Authorizes the Attorney General to bring a civil action in district court when there is reasonable cause to believe that a person or group is engaged in a pattern or practice of resistance to the rights granted by this Act and that such denial raises an issue of general public importance. Title VI: Regulatory Reform and Sex Neutrality - Requires the heads of each Federal administrative agency to conduct a review of the regulations of that agency to assure that such regulations are sex neutral. Requires that, to the extent practicable, all rules, regulations, documents, and other writings of Federal administrative agencies shall use words that are neutral as to gender, unless the subject matter specifically applies only to one sex or the words used do not result in sex-based discrimination. Title VII: Study of Enforcement of Alimony and Child Support Payments - Directs the Attorney General to undertake a study of the appropriate role of the Federal Government in the enforcement of delinquent payments of alimony, child support, and property settlement orders against an absent spouse or parent. Requires the Attorney General to submit to the President and the Congress not later than one year after enactment of this Act a report of such study together with recommendations for appropriate legislation.
United States · United States Congress · 2 April 1981
Noninstitutional Acute and Long-Term Care Services for the Elderly and Disabled Act - Amends the Social Security Act by adding a new title, title XXI (Noninstitutional Acute and Long-Term Care Services for the Elderly and the Disabled), to provide a comprehensive system of noninstitutional health, developmental, and social services for individuals with chronic disabilities. Entitles an eligible individual to the following benefits: (1) home health services; (2) homemaker-home health aide services; (3) adult day services; (4) respite care services for up to 14 days, or 336 hours, in any year; (5) service coordination; (6) home help services; and (7) other services, provided on a demonstration basis, which the Secretary of Health and Human Services determines may be of value. Sets forth definitions of such benefits. Provides benefits to every individual who: (1) has attained age 65; (2) is disabled and eligible for benefits under titles II (Old-Age, Survivors and Disability Insurance), XVI (Supplemental Security Income), XVIII (Medicare), and XIX (Medicaid) of the Act; (3) was eligible for such benefits and ceased to be so eligible, but only if loss of benefits would seriously jeopardize such individual's ability to continue to live in a noninstitutional community residence and such individual's income is not sufficient to allow such individual to provide a reasonable equivalent of the services available under this Act; or (4) has been certified as eligible by the Secretary of Health and Human Services. States that no eligible individual shall be eligible to receive any benefits under title XXI or any long-term care benefits under titles XVIII, XIX, or XX (Grants to States for Services) of the Act unless such individual has a plan of care, as specified in this Act, and has been screened and assessed by a preadmission assessment and screening team (PAT) in order to determine the types and frequency of services required by such individual and in order to assure the maximum level of independence for such individual. Requires the Governor of each State to designate the State agency or agencies which shall administer or supervise the administration of the State's PAT program. Directs such agency or agencies to designate entities responsible for establishing area PATs. Directs the Secretary to determine the composition of the PAT. Directs the Secretary to reimburse any PAT, and any State, for the reasonable costs incurred under this Act. Requires beneficiaries under title XXI to make copayments. Sets limits based on income for such copayments. Exempts those below the poverty line from copayments. Directs the Secretary to pay amounts for benefits incurred by an eligible individual in accordance with specified guidelines. Creates the Federal Long-Term Care Trust Fund into which specified funds will be deposited in order to make the payments required by this Act. Coordinates the provisions of this Act with titles XVIII, XIX, and XX of the Act by providing that no payment shall be made under such titles to or on behalf of an individual who is eligible under title XXI for services available under title XXI, unless the individual seeking coverage first undergoes a preadmission screening and assessment as provided in title XXI. States that this Act shall be effective between January 1, 1982, and December 31, 1987. Directs the Secretary to monitor the effects of this Act and report to the Congress. Directs the Comptroller General to also conduct an ongoing evaluation of the effects of this Act and to report to the Congress.
United States · United States Congress · 2 April 1981
Potato Research and Promotion Act of 1981 - Amends the Potato Research and Promotion Act to revise the National Potato Promotion Board's assessment rate beginning with fiscal year 1982. States that the failure of potato producers to approve an amendment to any research and promotion plan shall not invalidate the existing plan.
United States · United States Congress · 2 April 1981
Commends Secret Service Agents Timothy McCarthy and Jerry Parr and Metropolitan Police Officer Thomas Delahanty for their performance in the line of duty with respect to the assassination attempt on the life of the President of the United States.
United States · United States Congress · 26 March 1981
Amends the Internal Revenue Code to exclude from the gross investment income of life insurance companies dividends received by such companies from members of an affiliated group.
United States · United States Congress · 26 March 1981
Requests the President to designate the week of February 7 through 13, 1982, as "National Scleroderma Week."