United States · United States Congress · 27 November 1979
Amends the Small Business Act to increase the loan limitations to small business concerns for the following: (1) plant construction, or residential or commercial construction; (2) organizations for the handicapped and such concerns established, acquired, or operated by the handicapped; (3) such concerns located in urban or rural areas of high unemployment or low-income individuals, or those concerns owned by low-income individuals; and (4) solar energy and energy conservation measures.
United States · United States Congress · 27 November 1979
Amends the Internal Revenue Code to exclude from gross income dividends received from a domestic corporation up to $100 during a taxable year and interest earned on a withdrawable savings account in a savings bank. Limits the amount of interest excludable to that amount which exceeds the amount of interest or dividends received by the taxpayer during the preceding taxable year up to $500. Permits individuals age 65 and over to exclude a full $500 for a taxable year.
United States · United States Congress · 26 November 1979
Small Business Export Expansion Act of 1979 - Title I: Small Business Export Expansion Assistance - Amends the Small Business Act to authorize the Small Business Administration (SBA) to make grants to qualified applicants to encourage the development and implementation of a small business international marketing program. Stipulates that not more than one-third of such grants be used for the purpose of hiring personnel. Sets forth eligibility requirements for applicants. Requires each small business international marketing program to: (1) have a full-time staff director to manage program activities; (2) have access to export specialists to counsel and assist small business clients; and (3) establish an advisory board of nine members appointed by the Governor of the State in which the applicant is located. Sets forth operational procedures for such advisory board. Directs the SBA to maintain a central clearinghouse for the collection, dissemination, and exchange of information between small business international marketing programs. Authorizes appropriations through fiscal year 1982 for such programs. Title II: Export Promotion Centers - Directs the Administrator of SBA, after consultation with specified agencies, to establish an Export Promotion Center in each regional office of the Department of Commerce. Requires the Export-Import Bank of the United States, the Internal Revenue Service, the Overseas Private Investment Corporation, and the SBA to each designate at least one full-time employee to serve as the agency representative in each Center. Directs the Administrator to report to the Senate Select Committee on Small Business and the House Small Business Committee on the progress made in implementing this title, not later than six months after enactment of this Act. Directs the Administration to establish a plan for the evaluation of the international marketing program to be submitted annually to the appropriate congressional committees. Title III: Small Business Export Financing Assistance - Authorizes the Administration to make loans to small businesses for export purposes. Provides that in agreements to participate in loans on a deferred basis participation by the Administration shall be 90 percent of the balance of the loan outstanding at the time of disbursement. Title IV: Small Business Investment Companies - Amends the Small Business Investment Act of 1958 to authorize the Administration to make commitments, by contract, to guarantee qualifying investments by small business investment companies licensed pursuant to this Act. Limits such contracts to specified aggregate amounts of guarantee eligibility. Provides that such guarantees be granted with respect to initial and subsequent (to the effective date of this Act) investments made in eligible small business concerns. States that such guarantees shall not exceed 50 percent of each net investment loss. Directs that such guarantees be granted to such concerns which are or will be engaged in continuous export business operations, giving preference to new-to-export small businesses. Sets forth requirements necessary to qualify for a guarantee of qualifying investments and terms and conditions under which the Administration may void or suspend any such contractual commitments.
United States · United States Congress · 20 November 1979
Amends the Motor Vehicle Information and Cost Savings Act to permit the inclusion of a manufacturer's imported automobiles with its domestically-produced automobiles for model years 1980 through 1986 for purposes of determining such manufacturer's compliance with the average fuel economy standards required under this Act, where the average fuel economy standard is dependent upon reasonably selected technology which is not within the ability of such manufacturer to develop.
United States · United States Congress · 8 November 1979
Authorizes the Vietnam Veterans Memorial Fund, Incorporated, to erect a memorial on public grounds in West Potomac Park in the District of Columbia in honor and recognition of the men and women of the armed forces who served in the Vietnam war.
United States · United States Congress · 8 November 1979
Expresses the sense of the Senate that: (1) all countries and all people be urged to respond generously to Cambodian relief efforts; (2) Cambodian authorities be encouraged to allow the use of all possible avenues for delivering food and medical supplies; and (3) the United States and the United Nations should express their expectation that the great power supporters of the factions in Cambodia share in international responsibility for averting famine.
United States · United States Congress · 6 November 1979
Estate and Gift Tax Amendments of 1979 - Amends the Internal Revenue Code to provide an unlimited marital deduction for estate and gift tax purposes. Increases from 50 percent to 65 percent the amount of the adjusted value of a gross estate which a qualified farm property must constitute before the special use valuation for farms and other closely held businesses is applicable to such estate. Eliminates the "material participation" requirements for the application of such special use valuation. Repeals the $500,000 limitation on the reduction of the value of qualified real property permitted for application of the special use valuation. Reduces from 15 to ten years the length of time a qualified property must be held following decedent's death before it can be sold or otherwise disposed of without incurring a recapture of estate tax benefits. Exempts from such recapture requirements any exchange of qualified real property, within the ten year period, for other qualified real property. Repeals the requirement that an heir elect special treatment for involuntary conversions of qualified real property, thus making such treatment automatic upon such a conversion. Provides for valuation of qualified real property for estate tax purposes on the basis of net share rentals (the excess of the value of the produce received by the lessor of the land over the cash operating expenses of growing such produce), whenever the average gross cash rental basis would be inappropriate. Increases from $3,000 to $6,000 the annual gift tax exclusion. Includes only the excess of such exclusion in the value of the gross estate of a decedent where the gift was made within three years before such decedent's death.
United States · United States Congress · 1 November 1979
Chrysler Corporation Loan Guarantee Act of 1979 - Authorizes the Secretary of the Treasury to enter into commitments to guarantee loans made to Chrysler Corporation if the Secretary determines that: (1) such a commitment is needed to enable Chrysler to continue to operate and the failure to meet this need would adversely and seriously affect the employment or economic situation in the United States or any of its regions, or the degree of competition in the automobile industry; (2) Chrysler has submitted a feasible operating plan for its 1980 fiscal year and the next three fiscal years demonstrating its ability to continue as a going concern in the automobile business without additional Federal assistance after December 31, 1983; and (3) Chrysler has submitted a satisfactory financial plan which includes at least $1,500,000,000 in funds that are not guaranteed by the Federal Government. Requires a portion of such nonfederal funds to be in the form of commitments and concessions contributed after October 17, 1979, by financial institutions, Chrysler's creditors, shareholders, and employees, and management, State and local governments, labor unions, and other entities with an economic stake in Chrysler. Prohibits the amount of outstanding guarantees actually issued by the Secretary from ever proportionately exceeding the amount of such nonfederal funding obtained and not repaid. Permits Chrysler to obtain capital and cash in order to meet the required level of nonfederal funding through a merger, the sale of securities, assets, or other transactions consummated after October 17, 1979. Requires the Secretary to receive assurances as to the availability and adequacy of all financing contemplated by the financing plan before entering any commitments to guarantee loans. Stipulates that the Secretary may issue guarantees only pursuant to commitments. Requires such commitments to provide that guarantees will only be issued if the Secretary determines that: (1) Chrysler would otherwise be unable to obtain credit upon reasonable terms sufficient to meet the needs of its operating plan; (2) there is a reasonable prospect of repayment; (3) the loan bears interest at a reasonable rate determined by the Secretary not less than the current average yield on Treasury securities of comparable maturity; (4) Chrysler continues to comply with an operating and financial plan or a revision which is feasible and satisfactory to the Secretary; (5) Chrysler has agreed to deliver rolling four-year operating and financial plans to the Secretary and an annual analysis of deviations in performance from the targets set forth in such plans; and (6) Chrysler has complied with the requirements set forth in the terms of any commitment. Renders any determination made by the Secretary under this Act conclusive upon the issuance of a loan guarantee. States that the validity of any guarantee shall be incontestable except for fraud or material misrepresentation on the part of the holder thereof. Authorizes the Secretary to determine the form of all guarantees issued under this Act. Directs the Secretary to collect, at least once a year, a guarantee fee of at least one-half percent per annum on the outstanding guaranteed loan principal computed daily. Authorizes the Secretary to negotiate appropriate additional terms to compensate the United States for the risk it assumes in issuing loan guarantees. Requires that all guaranteed loans mature no later then December 31, 1990. Prohibits waiver or amendment of the terms of any guaranteed loan without the Secretary's consent. Requires each commitment to contain appropriate protective provisions. Directs the Secretary to require security for the loans guaranteed under this Act, subordination of existing creditors, and that Chrysler pay no dividends on any common or preferred stock. Permits the Secretary to waive such requirements if necessary to enable Chrysler to obtain financing and if, despite such waiver, there is a reasonable prospect of repayment. Directs the Secretary to require a change in Chrysler's management if the Secretary determines that the inability of Chrysler to obtain credit without guarantees is a result of the failure of management to exercise reasonable business prudence. Authorizes the Secretary to inspect the records of Chrysler or any of its affiliates for which an application for a loan guarantee has been submitted. Authorizes the General Accounting Office to conduct a detailed audit of Chrysler and its affiliates. Directs the Office to report the results of such audit to the Secretary and the Congress. Prohibits the outstanding principal amount of loans guaranteed by the Secretary from exceeding $1,500,000,000 at any one time. Directs the Secretary to enforce the rights of the United States as a guarantor under this Act. Entitles the Secretary to recover any payments made pursuant to a guarantee from Chrysler, its affiliates, or any other liable person. Empowers the Secretary to utilize all available remedies in enforcing the rights of the United States and to bring actions in the United States district courts or any other appropriate court to enforce compliance with this Act or the terms of any agreement. Grants jurisdiction to such courts to hear such actions and to fashion appropriate remedies. Prohibits the Secretary from guaranteeing any tax-exempt security either directly or indirectly if the guarantee provides significant collateral for other tax-exempt obligations. Authorizes the Secretary to waive the priority of the United States if necessary to facilitate financing contemplated by the financing plan provided the Secretary determines that, despite such waiver, there is a reasonable prospect of repayment. Stipulates that such a waiver may not subordinate the claims of the United States to any other creditor. Directs the Secretary to submit a annual report to the Congress on activities conducted pursuant to this Act. Authorizes the appropriation of funds necessary to carry out the provisions of this Act beginning in fiscal year 1979 and remaining available without fiscal year limitation. Limits the authority of the Secretary to make guarantees to the extent provided in advance by appropriation Acts.
United States · United States Congress · 1 November 1979
Capital Formation Incentive Act of 1979 - Amends the Internal Revenue Code to allow a corporation engaged in certain market making activities a deduction from gross income for additions to a reserve for gains for such activities during the taxable year. Defines "market making activities" as the purchase and sale of over-the-counter equity securities by a dealer in securities, or any specialist permitted to act as a dealer, who holds himself out as being willing to buy and sell over-the-counter equity securities for his own account on a regular or continuing basis. Limits eligible securities to over-the-counter equity securities of corporations which, on the last day of the taxable year of the taxpayer preceding the taxable year of the sale or exchange, had $25,000,000 or less of equity securities in such corporation outstanding. Restricts the availability of such deduction to a reserve which has no more than $1,000,000 as of the close of the taxable year, after specified required adjustments. Prohibits any deduction if the amount of the additions to the reserve for the taxable year exceeds 30 percent of the fair market value of average monthly inventory positions carried for market making activities by the taxpayer during such year.
United States · United States Congress · 25 October 1979
Venture Capital Investment Act of 1979 - Title I: Amendments to the Securities Act of 1933 - Amends the Securities Act of 1933 to include within the private offering exemption from full registration any transaction involving securities bearing a legend stating that such securities may not be sold or transferred except to accredited investors provided all purchasers of such securities are accredited investors or persons the issuer reasonably believes to be accredited investors. Exempts from registration (under the exemption for transactions not involving an issuer, underwriter, or dealer) any resale of a security bearing such a legend if the purchaser is an accredited investor or a person reasonably believed to be an accredited investor. Defines the term "accredited investor" to include: (1) banks, insurance companies, investment companies and their subsidiaries, and any fund, trust or account administered by a bank or insurance company; and (2) persons designated by regulation of the Securities and Exchange Commission on the basis of expertise or net worth. Provides that a venture capital company engaging in the distribution of restricted securities (securities acquired in a transaction or chain of transactions not involving a public offering) shall not be considered an underwriter if such a company has been the beneficial owner of the restricted securities for a period of at least five years. Defines "venture capital company" for purposes of the Securities Act of 1933 and the Investment Company Act of 1940 to include only those companies which: (1) primarily engage in activities such as providing capital to industry, financing promotional enterprises, purchasing securities for which no ready market exists, or reorganizing companies; and (2) have at least 80 percent of their assets (excluding Government securities, short-term paper, and cash) in securities obtained in connection with a private offering, resale of restricted securities, or corporate reorganization. Title II: Amendments to the Investment Company Act of 1940 - Amends the Investment Company Act of 1940 to exempt from regulation under such Act as an investment company: (1) any venture capital company which is a reporting company under the Securities Exchange Act of 1934; (2) any venture capital company for a period of 180 days after its securities become beneficially owned by more than 100 persons; and (3) any venture capital company which presently proposes to make a public offering of its securities for 180 days after filing its registration statement and 60 days following its effective date or withdrawal, whichever last occurs. Prohibits a venture capital company from: (1) engaging in any business in interstate commerce in which a majority of its directors would be deemed interested if it were an investment company; and (2) selling or disposing of any securities it owns in any manner or amounts except those permitted under the Securities Act of 1933 for securities acquired in a private offering. Restricts the directors, officers, employees, and controlling shareholders of a venture capital company in owning and purchasing securities of the companies in which the venture capital company invests. Permits a venture capital company to register as an investment company though it would be entitled to an exemption under this Act provided it is not a personal holding company as defined in the Internal Revenue Code of 1954. Directs the Securities and Exchange Commission to promulgate regulations to implement this Act within 180 days of its enactment.
United States · United States Congress · 24 October 1979
Chrysler Corporation Emergency Loan Guarantee Act - Establishes an Emergency Loan Guarantee Board composed of the Secretary of the Treasury, the Secretary of Labor, and the Secretary of Commerce. Authorizes the Board to guarantee loans made to Chrysler Corporation and to enter other appropriate contracts to carry out the provisions of this Act. Designates the Secretary of the Treasury as Chairman of the Board. Requires all decisions of the Board to be made by majority vote. Imposes the following contributions on any loan guaranteed by the Board: (1) the loan must be needed to enable Chrysler to continue operations which if curtailed would seriously and adversely affect the economic or employment situation in the United States or any of its regions; (2) Chrysler must be unable to obtain credit upon reasonable terms without such a guarantee; (3) Chrysler's prospective earning power, together with any security it pledges, must furnish reasonable assurance that the loan will be repaid; (4) the lender must certify that it would not make the loan without such a guarantee; (5) the term of the loan must not exceed ten years; and (6) the loan must bear interest at a rate determined by the Board taking into account the reduced risk afforded by the guarantee and interest rates on otherwise comparable loans. Directs the Board to collect a guarantee fee to cover the administrative expenses of the Federal Government in making a loan guarantee. Requires the Board, to the maximum extent feasible, to ensure that the Government is compensated for the risk it assumes in issuing a guarantee by collecting additional guarantee fees or by other appropriate methods. Conditions Chrysler's eligibility for loan guarantees on its establishment of an employee stock ownership plan (ESOP) which: (1) satisfies the requirements of the Internal Revenue Code of 1954; (2) acquires Chrysler equity securities, bonds, debentures, notes or other instruments evidencing an indebtedness with the proceeds of a loan guaranteed under this Act; (3) is administered by a committee representing Chrysler, its employees participating in the ESOP, the trustee of the ESOP, the Secretary of the Treasury, and the Secretary of Labor; (4) will acquire noncallable preferred Chrysler stock convertible to common by direction of the ESOP committee at its fair market value as of October 23, 1979, in an aggregate amount not less than $250,000,000 or 25 percent of the loan guarantee, whichever is greater; (5) contains an agreement by Chrysler to make annual contributions sufficient to permit the ESOP to amortize the loan made by Chrysler to the ESOP; (6) grants all participants a nonforfeitable interest in their accounts; and (7) requires an annual allocation of all securities the ESOP acquires to the accounts of each participant in substantially equal amounts. Directs the Board to make every effort to assure that guaranteed loans to Chrysler are secured by sufficient property to fully collateralize the amount of the loan guarantee. Prohibits Chrysler, while any guaranteed loan remains unpaid, from declaring any dividend on its common stock or from making payments on any other indebtedness. Permits the Board to waive such prohibitions if such action is consistent with the interests of the United States. Directs the Board to require Chrysler to make changes in its management and fiscal operations and to develop a long-range plan if the Board determines that the inability of Chrysler to obtain credit in the normal capital markets is a result of a failure on the part of management to exercise reasonable business prudence. Prohibits the Board from guaranteeing any loan until it has received Chrysler's audited financial statement and has been afforded access to Chrysler's records. Requires a lender to exhaust all of its remedies under a guarantee agreement before any payment under the guarantee of the United States becomes due. Directs the Board to assure that any loan agreement guaranteed under this Act contains the usual provisions to protect the guarantor including strictures against waiver or amendment without the consent of the Board. States that the guarantee of the United States shall be in force with respect to advances under a loan agreement only if: (1) the Board receives ten days notice in writing of the advance; (2) the lender certifies that Chrysler is not in default, except that in cases where the lender reports the circumstances of a default the Board may guarantee an advance if it is consistent with the interests of the United States; and (3) Chrysler provides the Board with a plan concerning the expenditures which will be made with the advance. Requires Chrysler to report all instances in which advances were not expended in accordance with such plan. Requires that all guarantee agreements give the Board priority interest over the lender in any collateral securing the loan and any outstanding earlier loans. States that any sums that Chrysler has on deposit with the lender which are subject to offset under the bankruptcy laws shall be considered collateral in which the Board has priority over the lender. Authorizes the Board to inspect and copy Chrysler's records. Directs the General Accounting Office to conduct an audit of Chrysler at least once a year if an application for a guarantee has been made or if a guarantee is outstanding. Requires the Office to report the results of such audits to the Board and the Congress. Sets forth the maximum obligation of the Board under all outstanding loan guarantees made under this Act. States that such assistance may be only in such amounts as provided in advance in appropriation Acts. Establishes an emergency loan guarantee fund in the Treasury to cover the expenses and obligations of the Board. Requires that all guarantee fees be deposited in such fund. Permits the Board to use any Federal Reserve bank as its fiscal agent provided the bank is reimbursed for any expenses or losses incurred acting in such capacity. Directs the Attorney General to enforce the rights of the United States as a guarantor under this Act. Requires all sums recovered by the Attorney General to be deposited in the emergency loan guarantee fund. Entitles the Board to recovery of any payments made by Chrysler or any other liable person pursuant to a guarantee agreement. Directs the Board to ensure that lenders and other persons maintain their unguaranteed financial assistance to Chrysler at the level provided from October 1, 1978, to October 31, 1979. Directs the Board to submit an annual report to the Congress on its operations. Requires the Board to submit a report to Congress within six months of the enactment of this Act which contains recommendations on the need to continue the guarantee program beyond the termination date of this Act. Terminates the authority of the Board to enter new guarantee agreements on December 31, 1983.
United States · United States Congress · 22 October 1979
Authorizes the printing of a revised edition of the "Handbook for Small Business" as a Senate document. Directs the printing of 6,000 additional copies of such document for the use of the Senate Select Committee on Small Business.
United States · United States Congress · 12 October 1979
Prohibits the annual rate of pay for Senators, Members of the House of Representatives, Delegates to the House of Representatives, the Resident Commissioner from Puerto Rico, the President pro tempore of the Senate, the majority and minority leaders of the Senate and the House, and the Speaker of the House of Representatives from exceeding the rate of salary payable for such office or position on September 30, 1978.
United States · United States Congress · 4 October 1979
Small Business Innovation Act of 1979 - Title I: Research and Development Contracts - Amends the Small Business Act to direct the Small Business Administration (SBA) to advise, assist, and monitor Federal agencies in meeting the small business research and development set-asides required under this Act. Directs the SBA to develop an information program to assure that each qualified small business concern has the opportunity to participate in the Federal agency Small Business Innovation Research (SBIR) programs. Requires the SBA to report annually to the appropriate committees of Congress on the activities of Federal agencies in meeting and development set-asides and on the SBIR programs. Directs each Federal agency to set-aside for award to small business concerns a specified percentage of its budget for prime research and development contracts. Sets forth the percentage for fiscal year 1980 and each succeeding fiscal year until such percentage equals ten percent of the total dollar amount of such contracts. Stipulates that such set-asides apply to basic and applied research and development. Requires each Federal agency having an annual research and development budget of more than $100,000,000 to establish an SBIR program where one percent of its 1980 research and development budget and of its subsequent budgets would be reserved for contract awards to small business firms specifically in connection with the SBIR program. Sets forth responsibilities of each such Federal agency with respect to the administration of an SBIR program as follows: (1) determine categories of projects; (2) issue SBIR solicitations; (3) receive and evaluate proposals; (4) select awardees for SBIR contracts; (5) administer such contracts; (6) make payments to SBIR contractors; and (7) make quarterly reports on the SBIR program to the SBA. Allows such agencies to include the value of SBIR contracts in determining whether such goals are met. Prohibits contract awards to small business concerns for research and development which result from competitive or single source selections other than under an SBIR program to be counted as meeting any portion of the percentage requirements established pursuant to this Act. Directs the Administrator of the Office of Federal Procurement Policy, in conjunction with the SBA and the National Science Foundation, to issue regulations for conduct by Federal agencies which shall: (1) provide a simplified acquisition process for the program with SBIR requests for proposals being standardized throughout the Federal Government; and (2) include uniform requirements for patent rights and rights in data. Requires the Administrator for Federal Procurement Policy, in cooperation with the SBA, to establish simplified regulations for all Federal agencies for the award of research and development contracts to small business concerns. Directs the Administrator to insure that such regulations shall: (1) eliminate provisions of research contracts which require businesses to absorb expenses of performance of such contract and require Federal agencies to negotiate fees for all services and expenses relative to awarded contracts; (2) prohibit Federal agencies from excluding any small business concern from competition for such contracts on the same terms and conditions as any other business concern; (3) require each agency to consider and review unsolicited research and development proposals from small business concerns; (4) require agencies to consider small businesses on an equal basis with any other business concern in the award of sole source research contracts; (5) require that independent research and development costs and the bid and proposal costs incurred by small businesses shall be attributable to the contract in the fiscal year such expenses are incurred; (6) require agencies to evaluate the feasibility of dividing large scale proposed contracts into small segments to facilitate participation of small businesses; (7) require agency staff and consultants to provide fair and equal opportunity to small businesses owned by women and minorities and to provide guidance and counseling to such businesses; (8) require Federal agencies to evaluate personnel engaged in the awarding of research contracts; and (9) establish the responsibility of Federal agencies to identify the agency procedures in awarding research contracts which discriminate against small business concerns and take appropriate action to eliminate such procedures. Title II: Patents - States that it is the objective of this title to amend existing patent procedures in order to promote the marketing of inventions developed under federally supported research and development projects. Permits any organization or firm to elect, within a reasonable amount of time, to retain title to such inventions. Permits Federal agencies which have supported such projects to retain title to inventions through their funding agreements in specified circumstances. Requires review of agency determinations that such circumstances exist by the Comptroller General and the Chief Counsel for Advocacy of the Small Business Administration. Directs the Comptroller General to report to Congress on the implementation of this Act by Federal agencies. Enumerates provisions which must be included in funding agreements between a Federal agency and a small business firm or nonprofit organization including provisions: (1) to insure the rights of the Federal Government under this Act; (2) to provide that the agency shall have a nonexclusive, nontransferable, irrevocable and paid-up license to use the invention; (3) to prohibit a nonprofit organization from assigning rights to the invention without the approval of the Federal agency; (4) to prohibit such an organization from granting exclusive rights from the earlier of five years from the first commercial use of the invention or eight years from the date of invention; and (5) to require such organizations to use their royalties and earnings to support scientific research or education. Authorizes a Federal agency to transfer or assign its rights, acquired from an agency employee as coinventor, to an inventor electing to acquire title to an invention. Prohibits funding agreements with small business firms or nonprofit organizations from containing provisions allowing a Federal agency to require licensing to third parties of inventions which are not inventions conceived or first actually reduced to practice under a Federal contract or grant without written justification from the head of such agency. Allows such licensing upon a determination by the agency head that such action is necessary to achieve the practical application of the subject invention or work object. Empowers any Federal agency to require inventors or their assigns to grant licenses in order to: (1) achieve practical application of the invention in its field of uses; (2) alleviate health or safety needs; (3) meet requirements for public use specified by Federal regulations; or (4) achieve participation by United States industry in the manufacture of an invention. Entitles the government to collect up to 15 percent of all net income above specified amounts received by a patent holder until government research funds have been repaid. Restricts the assignment and licensing of rights by patent holders to foreign owned or controlled firms unless such persons agree that any products embodying the subject invention or produced through the use of the subject invention will be manufactured substantially in the United States. Authorizes Federal agencies to withhold information on inventions from public disclosure. Specifies the authority of Federal agencies with respect to obtaining patents, granting licenses, and transferring custody of patents. Authorizes the Administrator of General Services to promulgate regulations specifying the terms upon which any federally-owned invention may be licensed. Sets forth the procedure whereby Federal agencies may grant exclusive or partially exclusive licenses in any invention covered by a federally-owned domestic patent or patent application. Prohibits licensing which lessens competition. Directs that small business firms be given preference in exclusive or partially exclusive licensing. Enumerates provisions which must be contained in any grant of a license by a Federal agency. Declares that this Act shall take precedence over any other Act in the disposition of inventions. Directs the Commissioner of Patents and Trademarks to establish regulations governing: (1) the citation to the Patent and Trademark Office of prior art patents or publications which are pertinent to a later patent; and (2) the reexamination of a patent to determine whether such a prior patent or publication has any bearing on the patentability of any claim of such patent. Authorizes any individual to: (1) cite to the Office any such prior patent; and (2) request such a reexamination. Requires the Commissioner within 90 days of such a request to make a determination as to whether the cited prior patent raises a new question of the patentability of any claim of the later patent. Authorizes the Commissioner on his or her own initiative to make such a determination at any time. States that a determination that no new question is raised shall be final. Directs the Commissioner, upon determining that there is a new question of patentability, to order and conduct a reexamination. Requires that the patent owner be provided at least two months to file a statement on such question and that the person making the reexamination request be provided two months to respond to such statement. Declares that the patent owner shall be provided an opportunity in any reexamination to amend any claim of the patent in order to distinguish the claim from the prior patent cited, or in response to a decision adverse to the patentability of the claim. Authorizes the owner to appeal any adverse decision. Directs the Commissioner, upon the conclusion of any reexamination or appeal proceeding, to issue and publish a certificate cancelling any unpatentable claim, confirming any valid claim, and incorporating any amended claim in the patent. Declares that no prior patent or publication may be relied upon as evidence of nonpatentability in a civil action involving the validity or infringement of a patent unless: (1) the prior patent or publication was cited by or to the Office regarding application or reexamination proceedings for the patent; or (2) the court concludes that consideration of the prior patent or publication in such proceedings is unnecessary for adjudication. Sets forth circumstances under which a court may stay the proceedings of a civil action involving the infringement or validity of a patent to enable either party to such action to secure a determination on a request for reexamination of the patent by the Patent and Trademark Office. Provides the moving party in such action the right to dismiss the complaint commencing such action. Title III: Amendments to the Internal Revenue Code of 1954 - Small Business Research and Development Tax Incentive Act of 1979 - Amends the Internal Revenue Code to allow taxpayers who sell small business stock to recognize the gain from such sale to the extent such gain exceeds the cost of the purchase of other small business stock within 18 months after such sale. Sets forth definitions and special rules applicable to such nonrecognition of gain. Provides procedures for the reduction of basis of small business stock purchased during such 18-month period. Provides, upon notification to the Secretary of the Treasury, a three-year statutory period for the assessment of any deficiency attributable to any such gain. Sets forth the procedure for determining the period for which the taxpayer has held small business stock which resulted in nonrecognition of gain on the sale of such stock. Allows a taxpayer, other than a corporation, to deduct a specified percentage of his net small business capital gain from his gross income applicable to stock acquired after December 31, 1979. Declares that in the case of a qualified small business concern, a net operating loss in any taxable year after December 31, 1979, shall be a net operating loss carryover to each of the ten taxable years following such loss. Allows a qualified small business concern to treat research and experimental expenditures for the acquisition or improvement of property as expenses not chargeable to its capital account. Allows such concerns to treat such expenditures for any property subject to a depreciation or depletion allowance as deferred expenses, and in the case of a building such deferred expense shall be allowed ratably over a period of 120 months. Allows a tax exclusion for small business concerns engaged in a trade or business other than real estate, for deposits made into a reserve for research and development with specified limitations. Disallows a deduction for amounts paid from a reserve for research and development which is used by the taxpayer for research and experimental expenditures, if such expenditures may be taken into account by the taxpayer under other provisions of the Code. Specifies the percentage the taxpayer must include in gross income for amounts from the reserve not used for research and development. Specifies that a contribution to such reserve may be made only in cash for purposes of this Act. Sets forth requirements and procedures for treatment of such reserve when the taxpayer ceases to be a small business concern. Sets forth the definition of qualified stock options and requirements under which employees may use such granted stock options. Amends the Internal Revenue Code to allow small business corporations to include 100 shareholders, provided such corporations are not venture capital corporations. Makes amendments under this title applicable to taxable years beginning after December 31, 1979. Title IV: Regulatory Flexibility - Regulatory Flexibility Act - Requires Federal agencies to include the following information in the general notice of a proposed rule: (1) the goals and purpose of the rule; (2) the estimated number of individuals, businesses, organizations, and governmental jurisdictions affected by the rule; (3) a statement that the agency seeks alternative proposals which could achieve the goal of the proposed rule at a lower cost to individuals, small businesses, small organizations, and small governmental jurisdictions; and (4) a list of the measures necessary for compliance with any reporting requirement affecting more than ten persons. Requires Federal agencies to accept and consider alternative proposals to a proposed rule and to publish those proposals with justification of the selection of the final rule. Defines a small business, small organization, small governmental jurisdiction, and an individual as used in this Act. Directs each agency to publish a plan for reviewing its rules within 180 days after enactment of this Act. Requires each agency to determine whether such rules are efficiently achieving the goals of the implementing legislation. Directs the agency to publish, annually, a list of the rules to be issued and reviewed during the next year.
United States · United States Congress · 2 October 1979
Teacher Corps Amendments Act of 1979 - Amends the Higher Education Act of 1965 to extend the authorization of appropriations for the Teacher Corps program through fiscal year 1982.
United States · United States Congress · 28 September 1979
Domestic Violence Prevention and Services Act - Authorizes the Secretary of Health, Education, and Welfare to make grants to States, local public agencies, and nonprofit organizations for projects designed to prevent domestic violence and to provide immediate shelter and other assistance for victims and dependents of victims of domestic violence. Stipulates that such funds may not be used for direct payment to any victim of domestic violence or to a dependent of such victim, and that no income eligibility standard may be imposed for anyone seeking services under this Act. Requires each State receiving assistance to report annually to the Secretary on the implementation of programs and projects under this Act. Directs the Secretary to designate within the Office of the Secretary an administrative unit to serve as the National Center on Domestic Violence, to be responsible for: (1) the coordination (through the interagency council established by this Act) of all Federal programs relating to domestic violence; (2) the operation of a national clearinghouse to collect and disseminate information relating to domestic violence; (3) the development of a national media campaign to increase public awareness of the problems of domestic violence and the availability of services for its victims; and (4) keeping Congress informed with respect to the implementation of this Act. Requires the Secretary to report annually to Congress on the programs authorized by this Act. Requires that the records of any person subject to any program, project, or activity assisted under this Act be subject to the confidentiality provisions of the Drug Abuse Office and Treatment Act of 1972. Directs the Secretary to evaluate and report to Congress within two years of the first obligation of State grants on the effectiveness of the programs under this Act. Establishes an Interagency Domestic Violence Council to assist the Director of the National Center in coordinating all Federal programs regarding the prevention of domestic violence. Directs the Secretary to report within 90 days of the end of fiscal year 1981 and of each subsequent fiscal year to certain congressional committees specific information relating to applications for assistance for domestic violence research. Authorizes appropriations through fiscal year 1983 to carry out this Act.
United States · United States Congress · 28 September 1979
Amends the Internal Revenue Code to provide that the net operating loss carryover period for a taxpaying entity which ceases to be a real estate investment trust shall be the same as the net operating loss carryover period for an entity which continues to qualify as a real estate investment trust.
United States · United States Congress · 26 September 1979
Estate Tax Adjustment Act of 1979 - Amends the Internal Revenue Code to increase the unified credits against the estate and gift taxes from $47,000 to $70,700, with increased phase-in amounts for 1979 and 1980. Increases from $175,000 to $250,000 the minimum gross estate necessary to impose on the executor of a United States citizen or resident the duty to make an estate tax return.
United States · United States Congress · 25 September 1979
Stipulates that a Federal court shall not deny an application for habeas corpus relief by a person in custody under a State court order on the grounds that: (1) the State afforded such person a full and fair opportunity to raise and have decided his claim; or (2) the applicant did not raise the claim at trial or in any pretrial proceeding unless after a hearing the court finds that the applicant understandingly and knowingly forwent the privilege of seeking to vindicate his claim in the State courts. Applies the same provisions with respect to a prisoner in Federal custody who moves the court to vacate, set aside, or correct his sentence.
United States · United States Congress · 25 September 1979
Privacy Protection Act of 1979 - Requires a subpoena duces tecum be issued for matter in control of a person whom there is no probable cause to believe has committed a crime in connection with an investigation or prosecution of such criminal offense by government employees. Permits warrants to be issued to search for or seize such matter only if: (1) there is probable cause to believe that such matter would be destroyed or hidden; (2) there is probable cause to believe that such matter is contraband; or (3) the identity of the possessor of such matter cannot be determined within a reasonable time with reasonable effort. Makes evidence obtained in violation of this Act inadmissible in any court. States that governmental units and government employees shall be jointly and severally liable to any person deprived of any right under this Act. Provides for damages to be awarded to such persons.
United States · United States Congress · 25 September 1979
Omnibus Crime Control and Safe Streets Act Amendments of 1979 - Amends the Federal criminal code to provide, with respect to an interception of communications where a covert method of entry into private premises to install and remove a electronic interception device is to be utilized, that: (1) the application for an order state whether such entry is to be utilized and the reasons why illegal entry must be employed instead of legal methods of entry; and (2) an order authorizing interception specify whether a covert method of entry is to be utilized and the reasons why legal methods of entry would be unlikely to succeed or would be too dangerous to the officers attempting to install the interception device.
United States · United States Congress · 24 September 1979
Economic Opportunity Amendments of 1979 - Amends the Economic Opportunity Act of 1964 to add a new title XI: Energy Conservation Services Act of 1979 to establish a weatherization program to enable low-income and near-poor individuals and families, particularly families and groups in which the elderly or handicapped reside, to participate in energy assistance programs designed to reduce energy consumption and the impact of high energy costs. Directs the Director of the Office of Economic Opportunity to establish a weatherization program to improve the thermal efficiency of the dwellings of low-income and near-poor individuals and families and to provide access to low-cost, dispersed alternative energy sources. Authorizes the Director to make grants to States and to Indian tribal organizations for such purposes. Directs the Director to issue regulations to carry out such program, and sets forth the nature of such regulations. Authorizes appropriations to carry out such program for fiscal years 1980 through 1989 and establishes allotments to the States of such funds. Sets forth limitations on the amount of such grants made for the purchase of weatherization materials, for labor costs, and for program support. Requires States and approved area applicants to submit a weatherization plan in order to receive weatherization assistance. Describes required components of such plans, and directs the Director to establish procedures for the approval of such plan. Requires States seeking such assistance to establish a State weatherization policy council to be appointed by the chief executive officer of the State. Sets forth the duties of such council, including the reviewing of the operation of weatherization programs conducted by each local project and the preparing of the weatherization plans required by this Act. Authorizes a State, after having been approved for financial assistance, to designate community action agencies or political subdivisions as local weatherization projects and to provide financial assistance to such projects. Sets forth requirements for obtaining such designation. States that individuals or families having incomes equal to or less than 85 percent of the lower living standard income level, as defined in this Act, shall be eligible for participation in weatherization programs. Sets forth administrative provisions for such programs. Requires the Director to prescribe procedures for appeals, notice, and hearings in the event applications for financial assistance are rejected or not acted upon within the specified period of time. Authorizes the Director to provide technical assistance to States, areas, and local projects for conducting such programs and to provide training for personnel needed in connection with such programs. Requires the Director to provide for continuous evaluation and monitoring of programs established under this Act, and to publish the results of such evaluations. Directs the Director to submit such publications to the appropriate congressional committees. Directs the Director to prepare an annual report on the weatherization assistance program for submission to Congress and the President. Authorizes the Director to provide financial assistance to projects and activities designed to educate and counsel low-income and near-poor energy consumers in energy-conservation practices and sound residential energy management, self-help activities in energy conservation and alternative energy applications, and maintenance of weatherization and alternative energy improvements. Directs the President to establish procedures assuring the coordination of all Federal energy assistance programs affecting low-income and near-poor individuals and families. Directs the Director to conduct outreach activities to inform and enroll such individuals and families in such programs. Authorizes the Director to provide financial assistance for research, demonstration, or pilot projects designed to assist in developing new approaches to enable low-income and near-poor individuals and families to participate in energy conservation programs for reducing the impact of high energy costs and reducing energy consumption. Requires the Director to make a public announcement of the award of such grants or contracts and of the results or recommendations made as a result of such activities. Directs the Director to prepare summaries of the result of such activities for submission to the appropriate congressional committees. Stipulates that any assistance provided under this Act shall not be considered income or resources for any purposes, including the determination of eligibility for participation under any Federal, State, or local programs. Repeals provisions under the Economic Opportunity Act of 1964 requiring the establishment of an "Emergency Food and Medical Services" program.
United States · United States Congress · 24 September 1979
Residential Energy Efficiency Program of 1979 - Amends the State residential energy conservation plan provisions of the National Energy Conservation Policy Act to authorize the Secretary of Energy to institute an alternative home energy efficiency program in any State, political subdivision, utility service area, or geographical area thereof. Exempts persons subject to such program from the requirements and prohibitions contained in the utility program established under such Act. Sets forth requirements for such alternative home energy efficiency program, including: (1) a requirement that the Secretary designate a Federal, State, or local agency to negotiate a contract with an energy conservation company to undertake a home energy retrofit program in a specified geographic area for a specified per unit price to be paid by such agency; (2) a requirement that such energy conservation company comply with specified criteria concerning such home energy retrofit program; and (3) a requirement that the designated agency establish accurate normalized measurements of energy use by type of energy before and after the installation of such retrofit measures to determine the saving produced by such energy conservation company. Directs the Secretary to provide funds to designated agencies to pay energy conservation companies for energy actually saved. Requires public utilities to make periodic payments to the Secretary not to exceed the value of the savings in a given year realized by such utilities as a result of the energy actually saved. Authorizes such utilities to sell any energy available to it as a result of a home energy retrofit program to willing nonresidential buyers. Authorizes the Secretary to issue notes or other obligations in order to finance such energy retrofit programs in the event the moneys received from public utilities under this Act are insufficient to finance such programs. Places limitations on the Secretary's authority to enter into such contracts depending on the amount of payments received from public utilities pursuant to this Act. Requires the Secretary, prior to instituting any program authorized by this Act, to provide for public comment. Expands the definition of "residential buildings" for the purposes of this Act to include buildings having more than four dwelling units.
United States · United States Congress · 21 September 1979
Authorizes the President, on behalf of the Congress, to present a gold medal of appropriate design to Simon Wiesenthal in recognition of his contribution to international justice through the documentation and location of war criminals from World War II. Authorizes the Secretary of the Treasury to strike bronze duplicates of such medal for sale to the public.
United States · United States Congress · 21 September 1979
Product Liability Risk Retention Act of 1979 - Title I: Risk Retention Groups - Directs the Secretary of Commerce to promulgate standards for the approval of risk retention groups. Defines such groups as entities formed to assume or spread the liability of two or more persons arising from products liability claims or defective construction claims. Enumerates standards which the Secretary may consider in approving any such group including the amount and liquidity of its assets, soundness of its reserves, adequacy of its insurance coverage, and its overall plan of operations. Sets forth factors to be included in a group's application for approval. Authorizes the Secretary to conduct audits of the applicant. Sets forth limitations on the risk coverage afforded to any one person in the group. Authorizes the Secretary to make approval conditional as necessary. Requires any refusal of approval to specify the factual conclusions and legal authority upon which is is based. Authorizes the Secretary to require a group to set a maximum amount of risk which it will accept. Requires such a group's participants to obtain insurance for losses in excess of such maximum limitations. Establishes requirements for the terms of such insurance coverage. Prohibits a group from assuming liability for any person other than its members or its members' affiliates. Permits a group to assume liability which arises from an agreement of hold harmless or indemnity between a member and its supplier, purchaser, or consignee. Requires all or a portion of an individual's product liability or completed operations risk exposure be assumed by the group. Sets forth requirements concerning the return of a withdrawing member's capital contribution. Prohibits such groups from acquiring reinsurance from its members or affiliates. Prohibits a group from making non-pro-rata assessments or retroactive adjustments based on the loss experience of a member. Directs the Secretary to require each group to maintain reserves which it shall hold as a fiduciary for the benefit of claimants against its members. Prohibits a group from having any interest in the securities or debts or its members or their affiliates. Requires each group to submit annual reports to the Secretary. Declares that this Act shall preempt any State law relating to the formation, operation, or provision of insurance-services to risk retention groups. Stipulates that this Act shall not effect the authority of a State to tax risk retention groups. Applies Federal antitrust laws to such groups. Exempts the ownership interest of such groups from the securities laws. Limits the use of information obtained pursuant to this Act. Permits the Secretary to require data concerning the product liability claims experience of such groups. Authorizes the Secretary to audit each group and to require each group to engage an independent accountant to examine its books, records, and financial statements. Requires each group to pay an application fee and annual fees to cover supervisory expenses of the Secretary. Authorizes the Secretary to revoke the certificate of approval of a risk retention group. Enumerates circumstances in which such authority may be exercised. Requires that all hearings to revoke a group's certificate of approval be held in the District of Columbia. Exempts such hearings from requirements of law relating to agency adjudications. Empowers the United States District Court for the District of Columbia to hear appeals from orders of the Secretary issued pursuant to this Act. Requires the proceeds from a group's reinsurance policies to be paid to the group's receiver or other appropriate judicial officer if the group is adjudged insolvent. Title II: Group Purchase of Product Liability and Completed Operations Insurance - Exempts any group seeking to purchase liability insurance, its members, or any person who provides such insurance from any State law which restricts group insurance or would prohibit or discriminate against the application of this Act. Title III: Miscellaneous Provisions - Declares that this Act shall not be deemed to affect State tort law. Directs the Secretary to issue rules and regulations and to take all other actions necessary or appropriate to implement this Act.
United States · United States Congress · 18 September 1979
Amends the Internal Revenue Code to qualify small hydroelectric property, including fish passageways, for the investment tax credit against income tax. Makes such property eligible for a 20 percent credit in addition to the existing ten percent credit. Extends the period of qualification through December 31, 1985. Exempts small hydroelectric property from the public utility property depreciation deduction rules, at the taxpayer's election. Reduces the asset depreciation life of such property from 40-60 years to ten years for buildings and five years for equipment. Increases from one-and-a-half percent to four percent the annual asset guideline repair allowance percentage. Allows a 100 percent investment credit for any such property with a useful life of five years or more. Excludes from gross income the interest on State and local bonds funding small hydroelectric power generating projects.
United States · United States Congress · 17 September 1979
Alternative Energy Source and Conservation Tax Incentive Act of 1979 - Amends the Internal Revenue Code to increase from 15 percent to 50 percent (not to exceed $2,000) the percentage of qualified energy conservation expenditures allowable as a residential energy credit against an individual's income tax. Eliminates the limitation that such qualified expenditures be made only with respect to the taxpayer's principal residence. Raises from $2,200 to $5,000 the maximum amount of qualified renewable energy source expenditures allowable as a residential energy tax credit. Qualifies the differential cost of renewable energy source property which is a structural component of a building as one such expenditure. Extends eligibility for the residential energy tax credit to: (1) a landlord for installation of alternative energy equipment on rental residential property; and (2) a builder for installation of such equipment in a house built for sale (reserving such builder the option to pass such credit through to the first purchaser). Applies such credit to lease payments on such equipment (so long as the lessor certifies that he has not taken the credit himself). Permits a homeowner to file an amended return for his previous taxable year and receive such credit against the previous year's taxes for eligible energy expenditures in his current taxable year. Extends the tax credit for photovoltaic systems to homeowners. Revises the eligibility for such credit of the costs of drilling geothermal wells (but only if no deduction is taken for intangible drilling and development costs). Extends coverage of the ten percent business investment tax credit to all solar and wind energy property, including structural modifications and components. Allows an additional 20 percent energy investment tax credit for solar, wind, and geothermal expenditures. Makes hydroelectric properties (other than dams) eligible for such additional 20 percent credit. Makes wind-powered mechanical energy eligible for both credits. Makes utilities and private enterprises eligible: (1) for the additional 20 percent credit for purchase and installation of all wind and solar equipment; and (2) for a further ten percent credit for purchase and installation of cogeneration equipment. Makes heat pumps (including water well heat pumps) eligible for the 15 percent residential conservation credit and the ten percent energy tax credit for business. Extends the expiration date for such credits through fiscal year 2000. Increases the current four cents per gallon to a 40 cents per gallon exemption from the Federal special fuels diesel and gasoline excise taxes for each gallon of alcohol sold in an alcohol-gasoline (gasohol) mixture, and extends the expiration date of such exemption through fiscal year 2000. Allows a credit against income tax for any amount in excess of the excise taxes refunded or credited pursuant to such exemption. Includes the amount of such income tax credit in gross income for the applicable year. Requires the Secretary of the Treasury's annual gasohol report to Congress to include: (1) a calculation of the need for continued gasohol incentives (and the appropriate level); and (2) a comparison of the cost of alcohols produced from corn, wheat, wood and other substances. Allows van pools operated by non-employers (third parties or owner-operators) to take the same ten percent investment tax credit currently available to employers only.
United States · United States Congress · 7 September 1979
Economic Opportunity Amendments of 1979 - Amends the Economic Opportunity Act of 1964 to add a new title, Title XI "Comprehensive Energy Conservation Service," which may be cited as the Comprehensive Energy Conservation Services Act of 1979. Establishes a comprehensive energy conservation service program to enable low-income and near-poor individuals and families, particularly the elderly, to participate in energy assistance programs designed to reduce energy consumption and the impact of high energy costs. Directs the Director of the Office of Economic Opportunity to establish a weatherization program to improve the thermal efficiency of the dwellings of low-income and near-poor individuals and families and to provide access to low-cost, dispersed alternative energy sources. Authorizes the Director to make grants to States and to Indian tribal organizations for such purposes. Directs the Director to issue regulations to carry out such program, and sets forth the nature of such regulations. Authorizes appropriations to carry out such program for fiscal years 1980 through 1989 and establishes allotments of such funds to be followed by the Director. Sets forth limitations on the amount of such grants made for the purchase of weatherization materials, for labor costs, and for program support. Requires States and approved area applicants to submit a weatherization plan in order to receive weatherization assistance. Describes required components of such plans, and directs the Director to establish procedures for the approval of such plan. Requires States seeking such assistance to establish a State weatherization policy council to be appointed by the chief executive officer of the State. Sets forth the duties of such council, including the reviewing of the operation of weatherization programs conducted by each local project and the preparing of the weatherization plans required by this Act. Authorizes a State, after having been approved for financial assistance, to designate community action agencies or political subdivisions as local weatherization projects and to provide financial assistance to such projects. Sets forth requirements for obtaining such designation. States that individuals or families having incomes equal to or less than 85 percent of the lower living standard income level, as defined in this Act, shall be eligible for participation in weatherization programs. Sets forth administrative provisions for such programs. Requires the Director to prescribe procedures for appeals, notice, and hearings in the event applications for financial assistance are rejected or not acted upon within the specified period of time. Authorizes the Director to provide technical assistance to States, areas, and local projects for conducting such programs and to provide training for personnel needed in connection with such programs. Requires the Director to provide for continuous evaluation and monitoring of programs established under this Act, and to publish the results of such evaluations. Directs the Director to submit such publications to the appropriate congressional committees. Directs the Director to prepare an annual report on the weatherization assistance program for submission to Congress and the President. Directs the Director to establish an energy assistance payments program and a crisis intervention program. Authorizes the Director to make grants to States to help low- income and near-poor individuals pay for increased home energy costs, and to provide short-term assistance and counseling to such individuals and their families when threatened with hardship or danger to health or life from lack of fuel, utility shutoff, or other energy-related crises. Authorizes appropriations to carry out such programs for fiscal years 1981 through 1983 and establishes allotments of such funds. Sets forth limitations on the amount of such grants made for energy assistance payments and for crisis intervention. Requires States and approved area applicants to submit an energy assistance and crisis intervention plan in order to receive financial assistance under this Act. Describes required components of such plans, and requires the Director to establish procedures for the approval of such plans. States that individuals or families having income equal to or less than 85 percent of the lower living standards income level, as defined in this Act, shall be eligible for energy assistance payments and for crisis intervention assistance. Authorizes payments under such programs to be made to residential energy suppliers, eligible individuals and families, or to some combination thereof. Requires a State to establish benefit levels, and sets forth criteria for setting such benefit levels. Requires eligible States or areas to designate agencies to administer such programs. Sets forth administrative provisions for such program. Requires the Director to prescribe procedures for appeals, notice, and hearings in the event applications for financial assistance are rejected or not acted upon within the specified period of time. Authorizes the Director to provide technical assistance to States, areas, and local projects for conducting such programs and to provide training for personnel needed in connection with such programs. Requires the Director to provide for continuous evaluation and monitoring of such programs, and to publish the results of such evaluations. Directs the Director to submit such publications to the appropriate congressional committees. Directs the Director to prepare an annual report on such programs for submission to Congress and the President. Authorizes the Director to provide financial assistance to projects and activities designed to educate and counsel low-income and near-poor energy consumers in energy-conservation practices and sound residential energy management, self-help activities in energy conservation and alternative energy applications, and maintenance of weatherization and alternative energy improvements. Directs the President to establish procedures assuring the coordination of all Federal energy assistance programs affecting low-income and near-poor individuals and families. Directs the Director to conduct outreach activities to inform and enroll such individuals and families in such programs. Authorizes the Director to provide financial assistance for research, demonstration, or pilot projects designed to assist in developing new approaches to enable low-income and near-poor individuals and families to participate in energy conservation programs for reducing the impact of high energy costs and reducing energy consumption. Directs the Director to make a public announcement of the award of such grants or contracts and of the results or recommendations made as a result of such activities. Directs the Director to prepare summaries of the result of such activities for submission to the appropriate congressional committees. Stipulates that any assistance provided under this Act shall not be considered income or resources for any purposes, including the determination of eligibility for participation under any Federal, State, or local programs. Repeals provisions under the Economic Opportunity Act of 1964 requiring the establishment of an "Emergency Energy Conservation Services" program.
United States · United States Congress · 3 August 1979
Patent Law Amendments of 1979 - Directs the Commissioner of Patents and Trademarks to establish regulations governing: (1) the citation to the Patent and Trademark Office of prior art patents or publications which are pertinent to a later patent; and (2) the reexamination of a patent to determine whether such a prior patent or publication has any bearing on the patentability of any claim of such patent. Authorizes any individual to: (1) cite to the Office any such prior patent; and (2) request such a reexamination. Requires the Commissioner within 90 days of such a request to make a determination as to whether the cited prior patent raises a new question of the patentability of any claim of the later patent. Authorizes the Commissioner on his or her own initiative to make such a determination at any time. States that a determination that no new question is raised shall be final. Directs the Commissioner, upon determining that there is a new question of patentability, to order and conduct a reexamination. Requires that the patent owner be provided at least two months to file a statement on such question and that the person making the reexamination request be provided two months to respond to such statement. Declares that the patent owner shall be provided an opportunity in any reexamination to amend any claim of the patent in order to distinguish the claim from the prior patent cited, or in response to a decision adverse to the patentability of the claim. Authorizes the owner to appeal any adverse decision. Directs the Commissioner, upon the conclusion of any reexamination or appeal proceeding, to issue and publish a certificate cancelling any unpatentable claim, confirming any valid claim, and incorporating any amended claim in the patent. Declares that no prior patent or publication may be relied upon as evidence of nonpatentability in a civil action involving the validity or infringement of a patent unless: (1) the prior patent or publication was cited by or to the Office regarding application or reexamination proceedings for the patent; or (2) the court concludes that consideration of the prior patent or publication in such proceedings is unnecessary for adjudication. Sets forth circumstances under which a court may stay the proceedings of a civil action involving the infringement or validity of a patent to enable either party to such action to secure a determination on a request for reexamination of the patent by the Patent and Trademark Office. Provides the moving party in such action the right to dismiss the complaint commencing such action.
United States · United States Congress · 3 August 1979
Authorizes two named individuals to file within one year claims for refund and credit of overpayment of income taxes paid for specified years, and renders inapplicable certain provisions of the Internal Revenue Code to such credit or refund.
United States · United States Congress · 3 August 1979
Amends the Internal Revenue Code to prohibit any State, or political subdivision thereof, which imposes an income tax on a corporation from taking into account any amount of income belonging to, or attributable to, any foreign corporation which is also a member of an affiliated group to which the domestic corporation belongs, unless such amount is subject to Federal income tax. Prohibits any State, or political subdivision thereof, from taxing or otherwise taking into account a certain percentage (determined according to specified formulae) of any dividend received by a corporation from a foreign corporation (or by a domestic corporation treated as having received such a dividend). Allows such State, or political subdivision, to take into account only a tax for which a Federal foreign tax credit would be allowed.
United States · United States Congress · 30 July 1979
National Student Loan Reform Act - Declares the purposes of this Act to be to: (1) ensure capital availability for student loans by strengthening the campus-based direct loan program; (2) adjust repayment schedules, and otherwise improve collection procedures, to make repayment sensitive to ability to repay and to reduce the default rate; and (3) guarantee loans to eligible borrowers so as to facilitate providing the expected family contributions (or, in the case of independent students, the expected self-help contribution) to the cost of higher education. Amends the Higher Education Act of 1965 to direct the Student Loan Marketing Association (Association) to enter into agreements with eligible institutions for making low-interest loans to students directly through such institutions. Sets forth the terms of such agreements. Stipulates that: (1) the conditions of such loans shall be determined by the institution, subject to any requirements or limitations prescribed by the Association; (2) the amount of such loans shall equal the cost of attendance minus any scholarships or other loans, the expected family income or self-help contribution, and any other Federal assistance; (3) such loans will be made to accepted or attending students in financial need who are carrying at least one-half the normal academic workload; and (4) such loans shall be evidenced by a written agreement. Stipulates with regard to repayment that: (1) the repayment period shall begin nine months after a student graduates or ceases to carry the required workload, and continue for a maximum of 15 years; (2) repayment may be in either equal or graduated installments at the option of the student borrower; (3) payments may be accelerated or paid in full without penalty; (4) the interest rate shall be seven percent; (5) no security or endorsement shall be required unless the student borrower is a minor; (6) the loan shall be cancelled upon the death or permanent total disability of the student borrower; (7) no repayment shall be required while the borrower is in school, or for up to three years while in the Armed Forces, Peace Corps, or a volunteer under the Domestic Volunteer Act of 1973; (8) repayment extensions may be made; and (9) partial ban cancellation shall be made for certain teaching positions and combat veterans. Establishes a loan program guaranteed by the Association to meet the cost of the expected family contribution under this Act. Authorizes necessary appropriations to the student ban insurance fund for such loans and related expenses. Transfers such funds availability from the Commissioner of Education to the Association. Provides that the Association shall pay an eligible institution ten dollars per academic year year for each enrolled student on whose behalf such family-contribution loan is made. Limits such new family-contribution loans to fiscal years 1981-1985, and prohibits payments for existing loans after September 30, 1989. Stipulates with regard to such family-contribution loans: (1) the institution must certify to the lender the amount of the expected family contribution; (2) such loans shall be 100 percent insured; (3) the student must have been accepted, or already enrolled, on at least a half- time basis; (4) such loans will be made without security and without endorsement; (5) repayment shall begin no more than nine months after graduation or after the student ceases to be at least a half-time student, and shall be over a period of not less than five nor more than ten years; (6) principal need not be paid (but interest shall accrue) if the student is enrolled at least half-time (including graduate school), in a rehabilitation training program, or unable to find (for up to 12 months) full-time employment; (7) interest, at a rate of one percent less than the Treasury rate, shall accrue and paid during the term of the loan, except that such interest may be deferred until repayment of the principal starts; and (8) payments may be accelerated without penalty. Provides that, upon application by an eligible lender, the Association shall issue certificates of insurance covering the loan and setting forth the amount and terms of the insurance. Authorizes the Association to issue to a lender a certificate of comprehensive coverage to cover all qualifying loans made by such lender within a specified cutoff date and up to a specified aggregate maximum. Sets forth lender recovery procedures for defaulting loans. Provides that the Association shall repay the loans of bankrupt, diseased, or disabled borrowers. Revises provisions regarding special allowance payments to lenders to: (1) change the formula for computing such allowance; and (2) extend the five percent limit on such allowance from October 1, 1977, to October 1, 1980. Eliminates the provision providing for a District of Columbia student loan insurance program. Authorizes Federal credit unions to make family-contribution loans to eligible borrowers. Terminates existing lending programs (Guaranteed Student Loan Program and the National Direct Student Loan Program) six months after the enactment of this Act. Provides for the dissolution of the existing Student Loan Marketing Association and the assumption, and expansion, of such Association's functions by a newly created Association. Includes within such new Association's functions: (1) the authority to continue to purchase, sell, collect or otherwise deal in specified existing student loan programs; (2) the authority to contract with State guaranty agencies (and compensate them for services) for collecting student loans, distributing loan funds to institutions, monitoring and auditing student loan programs, and providing technical assistance and information regarding such loans. Authorizes the Association to issue notes, bonds, or other obligations, with the concurrence of the Secretary of the Treasury. Provides that the obligations of the Association shall constitute general obligations of the United States.
United States · United States Congress · 30 July 1979
State Social Security Deposit Act of 1979 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to direct a State to pay to the Secretary of the Treasury, within 30 days following the end of each month, OASDI contributions related to the employment of State employees.
United States · United States Congress · 25 July 1979
Alternative Energy Source and Conservation Tax Incentive Act of 1979 - Amends the Internal Revenue Code to change the formula for computation of the residential energy tax credit for individuals to increase the maximum amount of such credit from $2,200 to $3,000. Extends eligibility for such credit to: (1) a landlord for installation of alternative energy equipment on rental residential property; and (2) a builder for installation of such equipment in a house built for sale (reserving such builder the option to pass such credit through to the first purchaser). Applies such credit to lease payments on such equipment (so long as the lessor certifies that he has not taken the credit himself). Allows owners of various residences to take such credit for a prorated share of the costs of jointly purchased equipment. Permits a homeowner to file an amended return for his previous taxable year and receive such credit against the previous year's taxes for eligible energy expenditures in his current taxable year. Extends the tax credit for photovoltaic systems to homeowners. Revises the eligibility for such credit of the costs of drilling geothermal wells (but only if no deduction is taken for intangible drilling and development costs). Extends coverage of the ten percent business investment tax credit to all solar and wind energy property, including structural modifications and components. Allows an additional 20 percent energy investment tax credit for solar, wind, and geothermal expenditures. Makes hydroelectric properties (other than dams) eligible for such additional 20 percent credit. Makes wind-powered mechanical energy eligible for both credits. Makes utilities and private enterprises eligible: (1) for the additional 20 percent credit for purchase and installation of all wind and solar equipment; and (2) for a further ten percent credit for purchase and installation of cogeneration equipment. Makes heat pumps eligible for the 15 percent residential conservation credit and the ten percent energy tax credit for business. Extends the expiration date for such credits through fiscal year 2000. Increases the current four cents per gallon to a 40 cents per gallon exemption from the Federal special fuels diesel and gasoline excise taxes for each gallon of alcohol sold in an alcohol-gasoline (gasohol) mixture. Extends the expiration date of such exemption through fiscal year 2000. Allows a credit against income tax for any amount in excess of the excise taxes refunded or credited pursuant to such exemption. Requires the Secretary of the Treasury's annual gasohol report to Congress to include: (1) a calculation of the need for continued gasohol incentives (and the appropriate level); and (2) a comparison of the cost of alcohols produced from corn, wheat, wood and other substances. Allows van pools operated by non- employers (third parties or owner-operators) to take the same ten percent investment tax credit currently available to employers only.
United States · United States Congress · 21 July 1979
Amends the Federal Power Act to permit the Federal Energy Regulatory Commission to enter into agreements with States under which State authorities may exercise the licensing authority of the Commission with respect to small hydroelectric projects at existing dams.
United States · United States Congress · 20 July 1979
Amends the Internal Revenue Code to require the payment of excise tax on the sale of certain sporting goods at the close of the quarter immediately following the quarter in which sale of such goods was made.
United States · United States Congress · 19 July 1979
Amends the Internal Revenue Code to exclude from gross income a corporate stock distribution to a stockholder based upon the reinvestment of stock dividends in the corporation by such stockholder pursuant to his election to participate in a qualified dividend reinvestment plan, as defined in this Act. Limits the amount of such exclusion to $1,500 per year. Establishes a rebuttable presumption that a distribution made by a corporation which purchases its common stock within one year of such distribution shall not be deemed a distribution pursuant to a qualified dividend reinvestment plan.
United States · United States Congress · 18 July 1979
Venture Capital Company Act of 1979 - Amends the Investment Company Act of 1940 to exempt any qualified venture capital company from regulation under such Act as an investment company if it has a class of equity securities registered under the Securities Exchange Act of 1934. Provides a limited exemption to venture capital companies whose securities are owned by more than 100 persons or which proposes to make a public offering of its securities. Defines "established venture capital company" to qualify for such exemptions only those companies which: (1) have been engaged in specified promotional activities for the preceding five continuous years; and (2) have 60 percent of their net assets in securities which were acquired in transactions not involving registration under the Securities Act of 1933. Requires any exempted venture capital company whose securities are owned by more than 100 persons to have a majority of outside, independent directors on its board. Requires any such company to sell or dispose of the securities it owns only in the manner and amounts permitted by the provisions of the Securities Act of 1933 governing the sale of securities acquired in transactions not involving a public offering. Restricts the directors, officers, employees and controlling shareholders of any such company in owning and purchasing securities of the companies in which it invests.
United States · United States Congress · 17 July 1979
Health Maintenance Organizations Medicare Reimbursement Amendments of 1979 - Amends title XVIII (Medicare) of the Social Security Act to revise provisions relating to payments to and contractual arrangements with health maintenance organizations (HMO) on behalf of individuals eligible for Medicare. Directs the Secretary of Health, Education, and Welfare to determine annually a per capita rate of payment for each class of individuals entitled to benefits under such title who are enrolled pursuant to this Act with a HMO. Directs the Secretary to define classes of members based on such factors as age, sex, institutional status, disability status and place of residence. Provides a rate for each class equal to 95 percent of the adjusted average per capita cost for that class. Defines the term "adjusted average per capita cost" to mean the average per capita amount that the Secretary estimates would be payable for services furnished under the Medicare program, if the services were to be furnished by other than an HMO. Provides that every individual entitled to benefits under parts A (Hospital Insurance) and B (Supplementary Medical Insurance) of title XVIII or part B only shall be eligible to enroll with an HMO with which the Secretary has contracted to provide services. Sets limits on an HMO's premium rate and the actuarial value of its other charges for individuals enrolled under this Act. Authorizes the Secretary to contract with any HMO that can provide the benefits required by this Act.
United States · United States Congress · 13 July 1979
Longshoremen's and Harbor Worker's Compensation Act Amendments of 1979 - Amends the Longshoremen's and Harbor Worker's Compensation Act to: (1) extend coverage to ship cleaners, lashers, and ship carpenters; and (2) define "longshoring operation", "ship repairman", "ship builder", and "point of rest" for purposes of such Act. Extends the current maximum rates of compensation for disability to compensation for death. Entitles an injured employee to choose an attending physician from a panel designated by the employer and authorized by the deputy commission. Requires an attending physician who refers an employee to a medical specialist or physician to notify the employer with respect to such referral. Requires an employee seeking recovery of expenses for medical treatment to request the employer to furnish such treatment within 21 days of the first treatment. Establishes procedures for providing independent medical examinations when medical questions arise, including guidelines for the determination of the degree of physical impairment. Provides that, except for certain specified injuries, permanent and total disability shall be determined only if as a result of the injury, the employee is unable to earn any wages in the same or other employment. Specifies that compensation for permanent, partial disability as listed in the Act shall not be subject to such restriction but shall be exclusive for those disabilities listed. Allows the employer to suspend or reduce the payment of compensation for permanent, partial disability under specified circumstances. Eliminates death benefits for the survivors of an employee who had been receiving permanent, partial disability compensation and who dies from causes other than the original injury. Establishes procedures for: (1) approval, disapproval, and appeal from disapproval of settlement applications; and (2) payment and computation of lump sum payment to discharge the settlement. Limits increases in disability compensation tied to wage increases to a maximum of three percent per year. Provides that failure to give notice of injury or death shall not act as a bar to a claim if the employer or insurance carrier has actual knowledge that the injury or death was employment related. Revises provisions with respect to payment of compensation awards, including the imposition of a maximum allowance for an injury of $100,000, except in cases of permanent, total disability or death. Repeals the statutory presumptions related to claims under the Act. Revises various provisions with respect to administrative and court review of compensation orders.
United States · United States Congress · 12 July 1979
Amends the Bankruptcy Act to stipulate that, for the period between December 18, 1977, and November 6, 1978, an abandonment or sale of the properties of a railroad in reorganization need not be approved by the Interstate Commerce Commission. Authorizes the Commission to direct a willing provider of truck or water transportation to transport the traffic of shippers using a railroad line abandoned pursuant to a court decree under the Bankruptcy Act if such transportation would be more efficient than directed rail carriage. Sets forth employee protection arrangements for individuals displaced from their employment on account of such an abandonment. Stipulates that a rail carrier required to provide such protective arrangements shall be reimbursed for such costs by the Railroad Retirement Board. Requires the rail carrier to repay such sums when the Board determines that the financial condition of the carrier permits such reimbursement. Authorizes appropriations to the Board for such reimbursements.
United States · United States Congress · 12 July 1979
Amends the Internal Revenue Code to exclude from a taxpayer's gross income interest or dividends on savings deposits or withdrawable savings accounts from a bank or a savings institution. Limits such exclusion to the excess of such interest or dividends for the taxable year over such interest or dividends received during the preceding year, up to a maximum of $100.
United States · United States Congress · 9 July 1979
Farm Credit Act Amendments of 1979 - Title I: Federal Land Banks and Associations - Amends the Farm Credit Act of 1971 to authorize any Federal land bank, under the supervision of the Farm Credit Administration, to: (1) participate in loans with other Farm Credit System institutions (i.e., Federal land banks, Federal land bank associations, Federal intermediate credit banks, production credit associations, and banks for cooperatives); (2) participate in loans which the land banks are authorized to make with lenders which are not Farm Credit System institutions; (3) sell interests in loans to such lenders; (4) buy from and sell to Farm Credit System institutions interests in loans, other extended financial assistance, and nonvoting stock; (5) make other investments; (6) accept contributions to their capital from Federal land bank associations; (7) enter into agreements with other Farm Credit System institutions to share loan and other losses; (8) issue nonvoting stock to borrowers as a patronage refund; and (9) make or participate with other lenders in long-term real estate mortgage loans not exceeding 85 percent of the appraised value of the real estate security. Makes producers and harvesters of aquatic products eligible for Federal land bank services. Authorizes Federal land bank associations to make capital contributions to a Federal land bank. States that a member of a Federal land bank association need not make the required purchases of land stock with respect to that part of a loan derived from a lender which is not a Farm Credit System institution. Authorizes the Federal land bank associations to pay dividends on a differential basis between different classes and issues of stock and participation certificates corresponding to the value of such classes and issues to the capital or earnings of the Federal land bank in its district. Permits the Federal land bank associations to agree to share loan and other losses with other Farm Credit System institutions. Title II: Federal Intermediate Credit Banks and Production Credit Associations - Authorizes the Federal Intermediate Credit Banks, subject to the supervision of the Farm Credit Administration, to: (1) buy from and sell to Farm Credit System institutions interests in loans, other extended financial assistance and nonvoting stock; (2) make other investments; (3) agree to share loan and other losses with other Farm Credit System institutions; (4) participate with other Farm Credit System institutions in making loans; and (5) issue nonvoting stock to such institutions. Authorizes the Federal intermediate credit banks to discount for, or purchase from other financial institutions loans made to producers and harvesters of aquatic products. Permits any Federal intermediate credit bank to transfer more than 25 percent of its net earnings after expenses to its allocated reserve account (presently, not more than 25 percent of such earnings may be transferred to this account). Authorizes each production credit association, subject to the supervision of the intermediate credit bank in its district and the Farm Credit Administration, to: (1) buy from and sell to any bank in the Farm Credit System interests in loans, other financial assistance extended, and nonvoting stock; (2) participate in loans with other Farm Credit System institutions; (3) agree to share loan and other losses with other Farm Credit System Institutions; (4) issue participation certificates to eligible borrowers in lieu of nonvoting stock; and (5) issue participation certificates or nonvoting stock to any financial institution outside the Farm Credit System with which the association participates in a loan in satisfaction of the requirement that a borrower own such stock or participation certificates. Requires a borrower to own only that amount of stock or participation certificates which is proportionate to that portion of a loan retained by a production credit association when it participates with another lender in making a loan. Authorizes the production credit associations to extend loan assistance to bona fide farmers, ranchers, and producers and harvesters of aquatic products for basic processing and marketing directly related to the borrower's operations. Title III: Banks and Cooperatives - Empowers each bank for cooperatives, subject to the supervision of the Farm Credit Administration, to: (1) participate with other Farm Credit System institutions in making loans; (2) deposit its securities and current funds with any domestic or foreign financial organization (presently, such deposits must be made at a member bank in the Federal Reserve System); (3) buy and sell bankers' acceptances which are obligations of member banks in the Federal Reserve System; (4) buy and sell other obligations including those which arise in the course of transactions which the bank has assisted through loans; (5) buy from and sell to Farm Credit System institutions interests in loans, other financial assistance extended and nonvoting stock; (6) make other investments; (7) invest in foreign and domestic business entities to facilitate the obtaining of credit information and the performance of services related to international transactions; (8) maintain credit balances to assist in the transfer of funds between parties to authorized transactions; (9) agree to share loan and other losses with other Farm Credit System institutions; and (10) issue participation certificates to parties who may not be issued voting stock. Requires all participation certificates, voting and nonvoting stock issued by the banks for cooperatives to be retired at par value. Authorizes the banks for cooperatives to: (1) offer a currency exchange for eligible cooperative associations; and (2) extend loans, loan participation commitments, and other technical and financial assistance to any domestic or foreign party in which a member cooperative has an ownership interest or which engages with the cooperative in dealings in agricultural or aquatic products, farm supplies or the lease of property, provided such assistance substantially benefits the member cooperative. Enables cooperatives solely engaged in furnishing aquatic business services to borrow from the banks for cooperatives. Reduces the degree of ownership in a cooperative which must be held by farmers, producers or harvesters of aquatic products, or other cooperative associations in order to make such a cooperative eligible to borrow from a bank for cooperatives. Requires a bank for cooperatives to retire any equity held by a borrower in default or dissolution at fair market value not to exceed the par value of the equity interest of the borrower. Prohibits the retirement or cancellation of such an equity interest if the bank's capital structure would be adversely affected. Permits each bank for cooperatives to transfer more than 25 percent of its net annual savings to a surplus account. Authorizes the banks for cooperatives to pay patronage refunds to borrowers in the form of participation certificates. Title IV: Provisions Applicable to Two or More Classes of Institutions of the System - Declares that interest rates established by the Farm Credit Administration for loans made by Farm Credit System institutions shall preempt any interest rate limitation imposed by State law. States that when two or more Farm Credit System institutions participate in a loan as authorized by this Act, the terms of such loan shall be those agreed upon by the institutions. Requires that such factors as borrower eligibility, membership, term, amount, loan security and purchase of stock or participation certificates by the borrower are to be governed by the provisions of law applicable to the institution originating the loan. Exempts credit transactions of Farm Credit System institutions from the provisions of any State statute or any other law or regulation which impose, with regard to a credit transaction, any duty or requirement which had been imposed by the Truth in Lending Act before amendment. Authorizes the institutions of the Farm Credit System to organize corporations to perform non-lending functions and services which such institutions are authorized to perform. Empowers the Governor of the Farm Credit Administration to review and revise the charters of such corporations. States that such corporations shall be subject to supervision and examination by the Administration. Title V: District and Farm Credit Administration Organization - Revises the process for the election of farm credit district directors by reducing from three to two the number of nominees in the election poll. Establishes the rate of compensation for the Federal Farm Credit Board at the daily equivalent of the rate prescribed for grade GS-18 of the General Schedule. Authorizes the Board to fix the salary of the Governor of the Farm Credit Administration at any level not exceeding the maximum rate of basic pay in the Executive Schedule. Authorizes the Governor to appoint Deputy Governors to provide assistance in the functioning of the Farm Credit Administration. Exempts the Administration from provisions of Federal law relating to appointments in the competitive civil service, travel expenses, allowances, procurement, and property disposition. Credits employees of Farm Credit System institutions with specified leave and retirement benefits when they are transferred to Federal service in the Farm Credit Administration.
United States · United States Congress · 27 June 1979
Taxpayer Protection and Reimbursement Act - Title I: Amendments to Internal Revenue Code of 1954 - Amends the Internal Revenue Code to award reasonable court costs, including attorneys' fees, to the prevailing party (other than the United States or a creditor of the prevailing party) in any civil action in any court of the United States for the determination, collection, or refund of any tax, interest, or penalty imposed under the Internal Revenue Code. Limits the amount of such award to $20,000 for any one civil action. Includes within the definition of "attorneys' fees" amounts paid to an individual who is not an attorney, but who is authorized to practice before the Tax Court. Defines "prevailing party" as a party who recovers all, or all but an insignificant portion of the amount in controversy in a civil tax proceding, or whose position is sustained as to all, or all but an insignificant portion, of the issues involved, and who establishes that the position of the United States in the civil action was unreasonable. Disallows costs and attorneys' fees for certain civil actions involving declaratory judgments. Title II: Amendments to Title 28 - Incorporates into title 28 (Judiciary and Judicial Procedure) of the United States Code the amendments set forth in title I of this Act.
United States · United States Congress · 27 June 1979
Capital Cost Recovery Act of 1979 - 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. Allows a ten percent investment tax credit for buildings and tangible property, and six percent credit for automobiles, taxis, and light-duty trucks. 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 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 · 25 June 1979
Replacement Motor Fuels Act of 1979 - Directs the Secretary of Energy to establish a program to promote the development and use of replacement fuels in the United States to replace gasoline used as a motor fuel with replacement motor fuel containing the maximum percentage of alcohol or other liquid produced from coal, oil, shale, or other substances as is economically and technically feasible. Directs the Secretary to determine with respect to replacement fuels, the most suitable raw materials for their production, the nature of the distribution systems and production processes of such fuels, the technical and economic feasibility of including liquids extracted from oil shale and coal in such program, and the technical and economic feasibility of reaching goal of replacing 20 percent of the gasoline used as a motor fuel with replacement fuels by the year 1992. Directs the Secretary to set production goals for replacement fuels for each of calendar years through 1981 through 1987. Sets forth the manner of determining the percentage of replacement fuel by volume to be contained in the total quantity of gasoline and replacement fuel sold annually in commerce in the United States in calendar years 1981 through 1990, and directs the Secretary to issue a rule setting the minimum percentage replacement fuel to be sold for year 1981 through 1986 by any refiner. Sets forth provisions for the enforcement of such requirements. Authorizes the appropriation of up to $1,000,000 for fiscal year 1980 to carry out this Act.
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