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United States · Official source
1,556 records where Sen. Proxmire, William [D-WI] is listed as a sponsor, author, or other actor. Search with topics and years
United States · United States Congress · 15 December 1987
Raoul Wallenberg Monument Resolution - Authorizes the Raoul Wallenberg Tribute Committee to establish a monument to honor Raoul Wallenberg on Federal land in the District of Columbia or its environs. Prohibits the United States from paying any expense of the establishment of the monument.
United States · United States Congress · 8 December 1987
Designates April 1, 1988, as Run to Daylight Day.
United States · United States Congress · 20 November 1987
Financial Modernization Act of 1987 - Title I: Securities Affiliates of Bank Holding Companies - Amends the Banking Act of 1933 to repeal specified provisions of such Act which: (1) bar member banks from affiliating with securities firms; and (2) prohibit member banks from employing officers, directors, or employees who are also employed by a firm primarily engaged in securities underwriting. Amends the Bank Holding Company Act of 1956 to allow bank holding companies to own shares of securities affiliates which engage in: (1) underwriting, distributing, or dealing in securities of any type; (2) securities brokerage, investment advisory, or other accepted securities activities; and (3) other activities permitted by the Board of Governors of the Federal Reserve System. Establishes criteria for Board approval of such acquisitions. Prohibits mergers between certain large banks or bank holding companies (those having assets of more than $30,000,000,000) and large securities firms (those having assets of more than $15,000,000,000). Establishes criteria (including a notice requirement) for bank holding company funding of securities affiliates. Establishes capital adequacy criteria to be used by the Board in determining whether a bank holding company meets the acquisition guidelines. Establishes restrictions on inter-affiliate transactions, including prohibiting a member bank from: (1) extending credit to the securities affiliate; or (2) purchasing the assets of the securities affiliate. Requires each appropriate Federal banking agency to establish a program for: (1) enforcing compliance with the requirements of this Act; and (2) responding to consumer complaints. Provides that bank holding companies having a securities affiliate that accounts for at least 80 percent of the company's revenues and assets shall not be subject to the inspection, examination, or reporting requirements of the Board. States that acquisition applications which are not acted upon by the Board within 91 days shall be deemed to be granted. Preempts State laws which are inconsistent with this Act. Amends the Federal Deposit Insurance Act to impose additional restrictions on securities affiliations of insured banks. Authorizes national banks to: (1) underwrite certain types of government bonds; (2) sponsor unit investment trusts; and (3) distribute investment company securities. Title II: Expedited Procedures - Amends the Bank Holding Company Act of 1956 to establish (under limited circumstances, where a company acquires control of a bank in a reorganization) expedited procedures for forming a bank holding company. Exempts such formations from specified registration requirements under the Securities Act of 1933. Requires any bank holding company seeking to engage in certain nonbanking activities (as determined by the Board) to notify the Board of such intentions. Allows the Board 60 days to: (1) disapprove the proposal; or (2) extend the time period for Board consideration. Provides limited exceptions from such notice requirements. Requires the Board, in determining whether to disapprove an application under this Act, to consider whether the activity described would produce benefits to the public. Allows the Board to reduce the post-approval waiting period for: (1) bank holding company acquisitions; and (2) bank mergers.
United States · United States Congress · 17 November 1987
Allocates funds appropriated in satisfaction of a specified judgment awarded to the Wisconsin Band of Potawatomi Indians to the Hannahville Indian Community and the Forest County Potawatomi. Declares such funds to be held in trust by the United States. Requires such funds to be invested by the Secretary of the Interior for the benefit of such Indian tribe. Makes such funds available to the governing body of the tribe, on a budgetary basis and subject to the approval of the Secretary of the Interior, for tribal, social, and economic development programs for the tribe. Exempts such trust funds, and funds made available under this Act for programs or for distributions under any programs, from Federal, State, or local income taxes. Precludes such funds (or their availability) from being considered as income or resources, or otherwise utilized as the basis for denying or reducing the financial assistance or other benefits to which any household or individual would otherwise be entitled under the Social Security Act or, except for per capita payments in excess of $2,000, any other Federal or federally assisted program.
United States · United States Congress · 10 November 1987
Authorizes the Vietnam Women's Memorial Project, Inc., to establish a statue of a woman Vietnam veteran within the Vietnam Veterans Memorial, to honor and recognize the women of the U.S. armed forces who served in the Vietnam war. Expresses the sense of the Congress that after the addition of such statue, no further additions to the site should be authorized or undertaken. Directs the Secretary of the Interior to select a site for the statue within the Memorial. Makes the design proposal subject to the approval of the Secretary and the National Capital Planning Commission. Prohibits the United States or the District of Columbia from paying any expense of establishing the statue. Provides that authorization for the statue shall lapse unless: (1) the establishment of such statue is commenced within five years of the date of approval of this resolution; and (2) the Secretary certifies that sufficient funds to complete the statue are available prior to groundbreaking. Makes the Secretary responsible for the statue's maintenance and care. Exempts the Secretary from the requirement of seeking the approval of the Commission of Fine Arts in implementing this resolution.
United States · United States Congress · 5 November 1987
Genocide Convention Implementation Act of 1987 - Amends the Federal criminal code to establish the criminal offense of genocide. Sets forth penalties to be imposed upon anyone who commits or attempts to commit any of the acts which constitute genocide (a fine of $1,000,000 and/or imprisonment for up to 20 years, and life imprisonment if group members are killed). Sets forth criminal penalties (a fine of $500,000 and/or imprisonment for up to five years) for directly and publicly inciting an act of genocide.
United States · United States Congress · 5 November 1987
Persian Gulf Navigation Protection Act of 1987 - Declares that the requirements of the War Powers Resolution became operative with respect to U.S. armed forces in the Persian Gulf on October 19, 1987. Declares that it is U.S. policy in the Gulf to: (1) keep the sea lanes open to international commerce; (2) remain neutral in the Iran-Iraq war and seek a just end to that conflict; (3) preserve the integrity of other nonbelligerent countries bordering the Gulf; (4) prevent a strategic gain by the Soviet Union in the region; (5) urge U.S. allies to participate more fully in sharing the burden of achieving and preserving peace in the region; (6) defend U.S. armed forces against aggression; and (7) pursue efforts through the United Nations to implement a cease-fire in the Iran-Iraq war. Authorizes the President, for purposes of the War Powers Resolution, to continue to deploy U.S. armed forces in the Gulf, subject to the following restrictions: (1) prohibits reregistration of vessels owned by a government or national of a country bordering the Gulf under the U.S. flag; (2) allows U.S. armed forces to escort a vessel of such a country only if the government of such country agrees to reimburse the United States for costs incurred and only for six months after the date of enactment of this Act unless reauthorized by joint resolution; and (3) requires the President to consult with the Congress before using U.S. armed forces in hostilities (other than actions necessary to repel attacks against U.S. armed forces or U.S.-flag vessels). Requires the President to report to the Congress every 30 days after enactment of this Act on the progress made in implementing the policy set forth in this Act.
United States · United States Congress · 5 November 1987
Expresses the sense of the Congress that before November 18, 1987, the Secretary of State should inform the Soviet Government that the United States supports the right of the Latvian people to peacefully assemble to commemorate important dates in their history and should urge the Soviet Government to: (1) allow the Latvian people to publicly commemorate November 18, the anniversary of the founding of the independent Republic of Latvia, without reprisal; (2) allow the Western media access to Riga, Latvia, to report on that day's events; (3) halt harassment of Latvian human rights groups; and (4) release all Latvian prisoners of conscience, including human rights activists Linards Grantins and Gunars Astra, before such date. Urges the President to direct U.S. Government agencies to closely monitor the events of November 18, and to send an appropriate representative to observe that day's events. Urges the President and the Secretary to raise the issue of human rights and self-determination in the Baltic states during the next U.S.-Soviet summit.
United States · United States Congress · 30 October 1987
Individual Appropriations Act - Requires the committee of conference to report a separate conference report for each title of a bill or joint resolution making continuing appropriations for a period of 30 days or more, together with any amendments in disagreement for each title. Requires each title to be assigned a bill number and considered separately. Makes it out of order in the House of Representatives and the Senate: (1) to consider such bill or joint resolution unless each title corresponds to a regular appropriations bill; and (2) for any general provisions of such bill or joint resolution not to be contained in the appropriate title. Excludes any bill or joint resolution making supplemental appropriations from provisions of this Act. Makes such Act applicable to FY 1988, 1989, and 1990.
United States · United States Congress · 28 October 1987
Recognizes and congratulates the Minnesota Twins as World Champions of baseball.
United States · United States Congress · 27 October 1987
Declares that the Senate commends the organizers and participants of Justice For All Day and expresses gratitude to all persons who work to abolish poverty and ease the suffering of the poor.
United States · United States Congress · 20 October 1987
Designates April 8, 1988, as Dennis Chavez Day in recognition of the first American-born, Hispanic person elected to the Senate.
United States · United States Congress · 13 October 1987
Amends the copyright law to extend the manufacturing clause, which prohibits the importation of certain English language books by American authors not manufactured in the United States or Canada. Suspends such clause unless the percentage of imports reaches or exceeds four times domestic printing production during calendar year 1986 in which case such clause will be imposed for one year or until the Secretary of Commerce certifies the percentage of imports has fallen below the requisite level.
United States · United States Congress · 2 October 1987
Amends the Agricultural Act of 1949 to provide that, notwithstanding the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) and the subsequent sequestration order issued by the President (under such Act), FY 1987 dairy expenditure reductions shall be implemented through a reduction in the price received by milk producers rather than through a reduction in Commodity Credit Corporation payments for dairy product purchases. States that such reductions shall be no greater than needed to equal the reduction in milk support expenditures required by such order.
United States · United States Congress · 28 September 1987
Designates the month of October 1987 as National AIDS Awareness and Prevention Month.
United States · United States Congress · 7 August 1987
Former Presidents Act of 1987 - Title I: Former Presidents - Changes the amount of the annual allowance to which the surviving spouse of a deceased former President is entitled from $20,000 to two-thirds of the allowance to which a former President is entitled. Repeals the requirement that the spouse must waive the right to any other Government annuity or pension to qualify for such allowance. Authorizes the Administrator of General Services to provide to each former President, upon request: (1) one office; (2) compensation, without an aggregate ceiling, for members of an office staff who shall be subject to certain provisions of civil service laws; (3) payment for the travel and subsistence allowances for specified office employees; (4) communications services; (5) printing and binding expenses; and (6) appropriate equipment for such office. Allows any Federal employee to be detailed to the office staff of a former President with the consent of the employee's agency head. Declares that the cost of providing transportation by Government aircraft to former Presidents shall be paid from appropriations for such purpose. Authorizes the Administrator to provide a former Vice President with necessary services and facilities for concluding his or her office affairs which are similar to the services and facilities provided to a former President under this title. Prohibits the use of funds provided for necessary services and facilities of a former President or Vice President for partisan political activities or income generating activities. Prohibits the expenditure of such funds for a former President any time beyond 90 days after the former President dies. Requires each former President to submit to the Congress an annual report concerning activities carried out with the assistance of such funds. Authorizes appropriations to carry out the provisions of this title concerning the services and facilities to be provided for former Presidents and Vice Presidents. Repeals specified provisions of the Presidential Transition Act of 1963. Title II: Protection of Former Presidents and Former Vice Presidents - Prohibits the United States Secret Service from protecting a former President, former Vice President, or the spouse, widow, widower, or child of a former President, except as authorized under this title. Authorizes the Secret Service to protect: (1) a former President for five years after the individual becomes a former President; (2) the spouse or child of a former President for two years after the individual becomes a former President, and after such period to the extent that such protection is incidental to the protection of the former President; and (3) the widow or widower and each child of a former President for six months after the former President dies, or for any time remaining in the two-year period, if applicable. Permits the Secretary of the Treasury to reinstate the Secret Service protection of a former President for one year and of a spouse or minor child for six months after the original protection has been terminated upon finding that a threat warranting such protection exists. Authorizes additional extensions of such periods of protection if the Secretary has submitted a request for an extension to the Congress and 60 days of continuous session have expired after the date of such request. Authorizes the President to direct the Secret Service to protect a former President, or a spouse or child of a former President, if a threat warrants emergency action. Permits the Secretary to authorize Secret Service protection for a former Vice President for a period beginning on the last day of the individual's term and ending on the last day of the fiscal year in which the term expires, and upon finding that a threat exists which warrants such protection.
United States · United States Congress · 7 August 1987
Designates October 15, 1987, as National Safety Belt Use Day. Authorizes and requests the President to issue a proclamation calling on the people to wear safety belts and have their children use child safety seats, and encouraging public safety and law enforcement agencies to promote these devices.
United States · United States Congress · 6 August 1987
Federal Aviation Administration Independent Establishment Act of 1987 - Establishes the Federal Aviation Administration as an independent Federal agency to succeed the Federal Aviation Administration of the Department of Transportation. Transfers to such independent agency all functions vested in the Federal Aviation Administration currently in the Department of Transportation, and all functions vested in such Department which are administered through the Federal Aviation Administration or are related to it. Authorizes appropriations.
United States · United States Congress · 6 August 1987
Declares that specified Federal land located in Forest County and Oconto County, Wisconsin, is held in trust by the United States as the reservation of the Forest County Potawatomi Community of Wisconsin. Declares that specified Federal land located in Menominee County, Michigan, is held in trust by the United States as the reservation of the Hannahville Indian Community of Michigan.
United States · United States Congress · 3 August 1987
Recognizes the contributions of Rachel Carson to public awareness and understanding of environmental issues on the 25th anniversary of her book, "Silent Spring."
United States · United States Congress · 31 July 1987
Expresses the sense of the Senate: (1) supporting the President's efforts to gain Pakistan's compliance with its past commitments not to produce weapon-grade nuclear material; (2) urging the President to inform Pakistan that its verifiable compliance with such past commitments is vital to any further U.S. military assistance; and (3) urging the President to pursue an agreement by India and Pakistan to join the Nuclear Non-Proliferation Treaty, accept International Atomic Energy Agency safeguards, allow mutual inspection of one another's nuclear installations, renounce nuclear weapons through a joint declaration, and establish a nuclear weapons free zone in the Subcontinent.
United States · United States Congress · 30 July 1987
Regulatory Fairness Act - Amends the Federal Power Act to direct the Federal Energy Regulatory Commission to order a public utility to refund those amounts determined by the Commission to be in excess of just and reasonable rates or charges.
United States · United States Congress · 28 July 1987
Expresses the Senate's profound sorrow and regret at the death of Secretary of Commerce Howard Malcolm Baldrige, Jr.
United States · United States Congress · 24 July 1987
Amends title XVIII (Medicare) of the Social Security Act to consider the aggregate number of resident workers who commute from the county in which a hospital is located to contiguous metropolitan statistical areas, rather than only considering the number of workers commuting to a single metropolitan area, for the purpose of determining whether such hospital should be paid at urban rather than rural rates.
United States · United States Congress · 22 July 1987
Federal Financial Management Reform Act of 1987 - Provides for the appointment within the Department of the Treasury of an Under Secretary for Financial Management (Under Secretary). Requires the Under Secretary to be appointed by the President, by and with the advice and consent of the Senate. Sets forth the responsibilities of the Under Secretary, including: (1) developing and initiating a plan for an integrated financial management system for all executive agencies; (2) developing a methodology to define Federal agency assets and liabilities; (3) establishing an advisory Financial Management Improvement Council; and (4) reporting to the Congress annually on the development and implementation of the financial management plan. Authorizes appropriations for the employment of up to 30 persons who shall report to the Under Secretary. Requires the head of each agency to include with each appropriation request a statement as to whether and to what extent the amounts representing actual transactions and balances for the most recently completed fiscal year were derived from accounting systems which conform to the requirements prescribed by the Comptroller General and implemented by the Under Secretary. Requires such statements to be included in the President's annual budget for each pertinent budget section. Requires the designation of an agency chief financial officer in the: (1) Department of Agriculture; (2) Department of Commerce; (3) Department of Defense; (4) Department of Education; (5) Department of Energy; (6) Department of Health and Human Services; (7) Department of Housing and Urban Development; (8) Department of the Interior; (9) Department of Justice; (10) Department of Labor; (11) Department of State; (12) Department of Transportation; (13) Department of the Treasury; (14) Department of the Army; (15) Department of the Navy; (16) Department of the Air Force; (17) Defense Logistics Agency; (18) Environmental Protection Agency; (19) General Services Administration; (20) National Aeronautics and Space Administration; (21) Small Business Administration; and (22) Veterans Administration. Requires the agency chief financial officer to: (1) manage all financial management system operations of the agency; (2) advise the agency head on financial management; (3) develop an agency financial management system; and (4) transmit an annual report to the agency head and the Under Secretary containing an analysis of the status of agency financial management. Prohibits the President from including in his annual budget any recommendation for action that would require an increase in the borrowing authority, or public debt limit, of the United States by more than the applicable maximum deficit amount plus estimated surpluses in Government funds and accounts required to be invested by law. Requires savings resulting from financial management amendments made by this Act to be withheld from obligation each fiscal year and returned to the Treasury subject to specified conditions. Authorizes appropriations for the Under Secretary to conduct an assessment of the future organizational placement of Government-wide financial management leadership, including: (1) an evaluation of the creation of a financial management agency within the Executive Office of the President; and (2) Government-wide devices for improvement of financial accountability.
United States · United States Congress · 22 July 1987
Authorizes and requests the President to designate December 1987 as Made in the U.S.A. Month.
United States · United States Congress · 21 July 1987
Federal Insecticide, Fungicide, and Rodenticide Act Reform of 1987 - Title I: Definitions - Amends the Federal Insecticide, Fungicide, and Rodenticide Act to define specified terms for purposes of such Act. Title II: Registration of Pesticides - Authorizes the use of an arbitration procedure to determine compensation for the use of another registrant's health and safety data for expired-patent pesticides. Permits two or more pesticide registrants to jointly develop additional supporting data. Prohibits conditional registrations of additional uses unless in the public interest. Sets forth procedures for conducting interim administrative reviews of whether a registered pesticide or pesticide category poses unreasonable adverse environmental effects. Provides for public access to health and safety data submitted to support a registration application for a pesticide containing a new active ingredient, or to authorize the food use of a pesticide active ingredient. Provides criminal penalties for wrongful disclosure. Requires a person seeking such information to affirm that he or she is not working for a pesticide business. Requires the Environmental Protection Agency (EPA) to establish an inert ingredient priority list. Requires EPA to establish and enforce efficiency standards for antimicrobial control agents (including disinfectants), including standards for hospital and health facility use. Requires EPA to develop methods for testing the neurotoxicological and behavioral effects of pesticides. Title III: Reregistration of Registered Pesticides - Requires the reregistration of active ingredient pesticides with outstanding data requirements registered before November 1, 1984. Provides for a phased-in nine year reregistration period. Provides for annual registration fees based on active ingredients over a five-year period. Establishes a registration fund in the Treasury. Title IV: Certified Applicators - Makes it a violation for any person to use any pesticide as a commercial applicator unless such person is a certified commercial applicator or a registered commercial applicator under the direct supervision of a certified commercial applicator. Provides for the development of training materials and procedures, including standards for trainers and training programs. Provides for separate standards for commercial and private applicators. Requires refresher training. Title V: Administrative Review - Requires a request for a cancellation hearing to identify the disputed findings and to include a statement of reasons which support such request. Revises pesticide label change procedures, including prohibiting a label change that would be equivalent to a cancellation of use or make the product unmarketable. Revises administrative review provisions. Requires EPA to cancel or suspend a registration based on false or invalid data. Requires producers and other parties to notify EPA and the State regarding stored, cancelled, or suspended pesticides. Title VI: Reregistration of Establishments - Requires pesticide producers to have available for the public pesticide active ingredient fact sheets. Requires annual reports to EPA. Title VII: Books and Records - Sets forth recordkeeping provisions, including requirements regarding commercial applicators and pesticide dealers. Title VIII: Inspection of Establishments - Authorizes duly designated Federal and State officials or employees to inspect pesticide facilities. Title IX: Protection of Trade Secrets and Other Information - Authorizes EPA to disclose to a State data acquired under this Act if the State provides the data submitter with at least the same protection as provided for by this Act. Requires such disclosure if the State also permits a compensation action for wrongful disclosure. Title X: Standards Applicable to Pesticide Applicators - Repeals specified private applicator recordkeeping requirements. Title XI: Unlawful Acts - Revises specified provisions regarding unlawful activities under such Act. Title XII: Penalties - Increases specified civil and criminal penalties under such Act. Grants to the EPA witness and document subpoena authority. Title XIII: Indemnity - Requires EPA, before making any indemnification payment, to: (1) report to the appropriate congressional committees; and (2) have a prior specific line item fund appropriation. Title XIV: Administrative Procedure - Permits a private right of action for judicial review of an EPA regulation. Title XV: Imports and Exports - Prohibits the export of restricted use or unregistered pesticides without prior notification to the importer and to an appropriate regulatory official of such country. Requires EPA to: (1) notify foreign governments and appropriate international agencies of pesticide regulatory activities; (2) participate in international pesticide research and regulatory programs; (3) provide foreign governments with technical assistance in developing pesticide regulatory programs; and (4) survey countries that import U.S. pesticides or export agricultural products to the United States to ascertain existing pesticide regulations and control food residues. Title XVI: Disposal and Transportation - Requires EPA to develop: (1) design regulations for pesticide containers that will promote the safe storage and disposal of such pesticides; and (2) regulations for pesticide container residue removal. Requires an EPA pesticide container study and report to the Congress. Title XVII: Delegation and Cooperation - States that EPA actions under such Act shall not preempt certain Department of Labor enforcement activities under the Occupational Safety and Health Act of 1970. Title XVIII: State Cooperation, Aid, and Training - Authorizes EPA to enter into cooperative agreements with States and Indian tribes for: (1) pesticide enforcement activities, including personnel training; (2) applicator training; and (3) pesticide certification and licensing programs. Authorizes appropriations. Title XIX: Authority of States - Prohibits States, for a five-year period, from prohibiting the sale or use of specified household antimicrobial pesticides with pending State registrations until a final application determination has been made. Requires EPA to establish criteria for disapproving special local needs registrations that take into account geographic use patterns. Title XX: Authority of Administrator - Repeals specified congressional review provisions of such Act. Makes authority for the scientific advisory panel permanent and increases its membership. Requires EPA to: (1) promulgate regulations regarding the health, safety, and training of employees who mix, load, or apply pesticides and agricultural workers in pesticide-treated areas; and (2) report to the Congress. Title XXI: State Primary Enforcement Responsibility - Provides for the expiration of State primary pesticide enforcement responsibility as of September 1, 1990, unless EPA determines that a State has the authority to impose civil and criminal penalties at least equal to those under such Act. Title XXII: Failure by the State to Assure Enforcement of State Pesticide Use Regulations - Authorizes EPA action under specified conditions if a State fails to enforce its pesticide use regulations. Title XXIII: Authorization for Appropriations - Authorizes FY 1988 through 1992 appropriations. Title XXIV: Other Provisions - Directs the Secretary of Agriculture, in providing regional research grants, to provide support for the interregional project number 4 program (IR4 program). Extends patents for certain pesticide, chemical, and plant products that undergo regulatory review prior to commercial marketing. Provides that during the last two years of a registered pesticide's patent it shall not be an act of patent infringement to make, use, or sell such pesticide solely for testing reasonably related to the development or submission of certain required data. Amends the Federal Food, Drug, and Cosmetic Act to require that when a pesticide registration is withdrawn, cancelled, or suspended because of human dietary risk, EPA shall withdraw tolerances for residues of the pesticide, or any tolerance exemption. Title XXV: Clarifying and Technical Amendments - Sets forth technical amendments. Title XXVI: Effective Date - Makes the provisions of this Act, unless otherwise provided for, effective 60 days after enactment.
United States · United States Congress · 21 July 1987
Truth in Savings Act - Requires each advertisement, announcement, or solicitation by a depository institution which refers to a specific interest rate, yield, or rate of earnings on amounts deposited in a demand or interest-bearing account to state the following information clearly and conspicuously: (1) the annual percentage yield and the period such yield is in effect; (2) all minimum initial deposit, minimum balance, and time requirements for earning such yield; (3) the annual rates of simple interest; (4) fees or other conditions that could reduce the yield; (5) any interest penalty for early withdrawal; and (6) the effective percentage yield on the maturity date of any account maturing in less than one year. Authorizes the Board of Governors of the Federal Reserve System to exempt advertisements, announcements, or solicitations made by any broadcast or electronic medium or outdoor advertising displays not on the premises of a depository institution from the disclosure requirements relating to initial deposit requirements, rates of simple interest, or fees, if such disclosure would be unnecessarily burdensome. Prohibits any depository institution from advertising an account as a free or no-cost account if: (1) there are minimum balance or limited transaction requirements to avoid fees; or (2) there is any service fee, transaction fee, or similar charge imposed for such account. Prohibits any institution from making any advertisement, announcement, or solicitation that is inaccurate or misleading or that misrepresents its deposit contracts. Requires each depository institution to maintain a schedule, written in clear and plain language, of fees, charges, interest rates, and terms and conditions such as minimum balance and time requirements applicable to each class of accounts offered. Requires that such schedule be disclosed to potential customers and requesting individuals and mailed to account holders. Requires that account holders receive 30 days' advance notice of any change to be made in any term or condition required to be disclosed in the schedule if the change might reduce the yield or adversely affect any account holder. Directs the Board to require modified disclosure requirements concerning the annual yield on variable rate accounts, multiple rate accounts, guaranteed-rate accounts that mature in less than one year, and accounts for which the interest rate is not guaranteed. Requires a depository institution to calculate the amount of interest on an interest-bearing account based on the full amount of principal in the account for the stated calculation period at the rates of interest disclosed pursuant to the requirements of this Act. Specifies that such requirement shall not be construed as prohibiting or requiring the use of any particular method of compounding or crediting of interest. Directs the Board to provide for public notice and comment on, and to publish, model forms and clauses for common disclosures required by this Act. Provides for the enforcement of this Act and the civil liability of a depository institution that fails to comply with requirements of this Act. Sets forth limitations on such liability and factors to be considered by the court in determining class action awards. Provides that an institution may not be held liable for a violation if the institution demonstrates that the violation was not intentional and resulted from a bona fide error, or if the institution makes a notification of and an adjustment for errors within a specified time. Establishes U.S. district court jurisdiction and a one-year statute of limitations for actions brought under this Act. Directs the National Credit Union Administration to provide for the similar regulation of credit unions.
United States · United States Congress · 17 July 1987
Expresses the Senate's profound sorrow and regret at the death of economist Walter Wolfgang Heller.
United States · United States Congress · 10 July 1987
Expresses the sense of the Senate that: (1) the President should continue to make clear the support of the United States for the Haitian people's efforts to establish a democracy; (2) Haiti's National Council of Government should respect and abide by decisions made by the Provisional Election Council in conducting elections called for under the new Haitian constitution; (3) the Haitian armed forces should respect human rights and exercise restraint in carrying out their duties; and (4) all Haitians need to work to avoid further violence and allow the democratic transition to proceed in a peaceful atmosphere.
United States · United States Congress · 9 July 1987
Expresses the sense of the Senate that Irving Berlin be recognized for his musical accomplishments.
United States · United States Congress · 8 July 1987
Declares that the Congress encourages all Americans to read the Constitution within one year of its 200th anniversary and strongly encourages Members of Congress, Federal judges, and officials of the executive branch to set the example in studying this cornerstone of democratic government.
United States · United States Congress · 7 July 1987
Designates the week beginning on November 8, 1987, as National Women Veterans Recognition Week.
United States · United States Congress · 7 July 1987
Expresses the Senate's profound sorrow and regret at the death of economist Arthur F. Burns.
United States · United States Congress · 30 June 1987
Pet Protection Act of 1987 - States that any person using for any research purpose any animal acquired directly or indirectly from any animal shelter or from individuals who have not bred and raised such animal on their own premises shall not be eligible to receive Federal funds under any grant or research protocol of the National Institutes of Health.
United States · United States Congress · 24 June 1987
Ground Water Safety Act of 1987 - Amends the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) to require a pesticide registrant or reregistrant to submit information to the Administrator of the Environmental Protection Agency (EPA) regarding the pesticide's potential for groundwater leaching. (Directs the Administrator, upon such registration, to determine a pesticide's leaching potential.) Requires registrants, in the case of a positive leaching potential, to: (1) develop management practices to minimize such leaching; (2) disseminate such management information to applicators; and (3) conduct groundwater monitoring. Requires a registrant, upon detection of groundwater contamination, to notify EPA, the State, the owner of the property, and any other person(s) relying on the underground source for drinking water or household needs. States that if such contamination reaches or is likely to reach 25 percent of the EPA-established groundwater residue guidance level, the Administrator shall amend the registration to impose further restrictions on the pesticide's use. Authorizes the Administrator to consider the health effects of alternative pesticides in setting such restrictions. States that if contamination reaches 50 percent of the groundwater residue guidance level, the Administrator shall notify and provide relevant information to the affected State(s). Directs the Administrator, if an affected State fails to act, to prohibit the pesticide's use in the vicinity of the underground source of drinking water. Directs the Administrator to: (1) collect and make available to the public information on groundwater pesticide contamination; (2) provide technical assistance to States for groundwater protection programs; (3) conduct research activities to monitor the presence of pesticides in the unsaturated zone; and (4) enter into agreements with the Departments of Agriculture, Commerce, and the Interior to develop information systems for State and local officials, farmers, and applicators regarding soil, climate, and hydrology at specific pesticide use sites. Authorizes FY 1988 through 1992 appropriations. Requires States to develop and submit for EPA approval pesticide water pollution prevention programs. Authorizes: (1) the Administrator to provide financial assistance; and (2) FY 1988 through 1992 appropriations. Amends the Public Health Service Act to authorize the Administrator to issue groundwater residue guidance levels for FIFRA-registered pesticides.
United States · United States Congress · 23 June 1987
United States Trade Enhancement Act of 1987 - Title I: Export Administration Act Amendments - Amends the Export Administration Act of 1979 to exclude China from the definition of "controlled country" for purposes of such Act. Requires the Secretary of Commerce (Secretary) to grant a general license for exports to qualified foreign parties that the Secretary has certified have a high expectation of being reliable end-users. Defines qualified foreign parties to include Government entities from countries that have agreed to maintain export controls. Prohibits any fee from being charged in connection with the submission or processing of an export license application. Prohibits requiring permission (under the national security export control provisions) for the export of goods or technology to a country which maintains export controls on such goods or technology cooperatively with the United States pursuant to the agreement of the Coordinating Committee on Export Controls (COCOM), or a specified international agreement, if the export of such goods or technology to China on May 6, 1987, would require only notification to the participating governments of COCOM. Authorizes the Secretary to require notification to the Secretary of Commerce of such exports. Authorizes the Secretary to require a license for the export of such goods or technology to: (1) consignees; and (2) consignees in a country that is believed to be engaging in a practice of noncompliance with the COCOM agreement. Prohibits requiring permission to export to any country other than a controlled country of any goods or technology if the export of such goods or technology requires only notification of the participating governments of COCOM. Authorizes the Secretary to require notification to the Secretary of such exports. Declares that no permission to reexport any goods, technologies, or services subject to U.S. jurisdiction may be required for shipment: (1) to a consignee in any country which maintains export controls pursuant to a specified international agreement (except for certain highly critical goods, technologies, or services that are unilaterally controllable by the United States); or (2) from any country if such goods, technologies, or services to be reexported are incorporated in other products and no license is required for the export of either the incorporated material or the products into which they are incorporated, the value of the U.S. content of such products is 20 percent or less, or the goods are normal and usual replacements for U.S. origin components in a legally exported foreign made product and do not exceed the value of the U.S. content in the product. Requires such consignee to notify the Secretary at the time of reexport. Requires the President to resolve any disputes with respect to the placement of goods and technology on the Commodity Control List (list of goods and technology subject to export controls). Requires the Secretary to use data developed from his annual review of the Commodity Control List (CCL) in formulating U.S. proposals relating to multilateral controls imposed by COCOM. Sets forth specified responsibilities of the Secretary with respect to the CCL. Directs the Secretary to eliminate from the CCL, except for controls on goods or technology for which foreign availability does not exist or which the United States is negotiating multilateral cooperation, items unilaterally controlled by the United States from the CCL. Sets forth provisions relating to the review by the Secretary of certain controlled exports to China that have not been reviewed within the previous two years. Declares that applications for a license for exports to China of goods and technology controlled under the CCL for exhibition at a trade show shall carry a presumption of approval if the exhibitor adheres to specified conditions. Imposes a timetable for responses by the Secretary to allegations of foreign availability by export license applicants. Requires the Secretary to publish any assessment of such foreign availability. Requires the President to notify specified congressional committees when he has begun negotiations to eliminate the foreign availability of controlled items and why he believes it is important to the national security that such controls be maintained. Requires the Secretary to conduct annual reviews of the performance level of goods or technology below which: (1) exports to China require only notification of participating governments; and (2) no permission may be required for exports to a country which maintains export controls on such goods or technology cooperatively with the United States pursuant to the agreement of COCOM or a specified international agreement. Includes as an objective with respect to presidential negotiations with participating governments of COCOM the agreement to enhance cooperation among such governments in obtaining the agreement of governments outside of COCOM to restrict the export of goods and technology on the International Control List (ICL), to establish mechanisms to coordinate implementation of export control measures related to such agreements, and to remove items from the ICL if such items continue to be available to controlled countries or no longer serve COCOM's objectives. Prohibits export controls from being imposed on a good solely on the basis that such good contains controlled parts if specified conditions exist. Prohibits the Secretary, unless the President determines that the absence of export controls would be detrimental to national security, from requiring a validated export license for the export of goods or technology that the Secretary has determined are available in fact from sources outside the United States, if the goods or technology do not exceed the technical parameters of those available from sources outside the United States, to any country with respect which the source country does not place controls on such exports. Sets forth the procedures for obtaining a license for the export of such goods or technology. Imposes a timetable for responses by the Secretary to allegations of West-West foreign availability. Declares that foreign availability will be deemed to exist and the Secretary will be prohibited from requiring a license for the export of such goods or technology if such responses are not made within a specified time. Provides for interagency cooperation in determinations of foreign availability. Requires the President to pursue negotiations with the appropriate countries for the elimination of foreign availability. Requires the President to pursue negotiations with the appropriate countries for the elimination of foreign availability in cases where export controls are maintained. Declares that the President, before imposing export controls for foreign policy reasons, should choose diplomatic alternatives to export controls which offer opportunities of distinguishing the United States from, and expressing U.S. displeasure with, specific actions of foreign nations. Prohibits controls on the export of U.S. petroleum products, unless the President determines such controls are necessary. Requires the Secretary to approve or deny a request for a license to export controlled goods or technology whenever the Secretary of Defense fails, within 20 days of receiving notification of such request, to make specified recommendations and notifications to the President and Secretary. Permits non-U.S. citizens who violate the export control laws of a country to be debarred from contracting with any Federal agency for a period not to exceed five years. Provides for judicial review of civil penalties imposed by the Secretary and of orders by the Secretary that temporarily deny a person export privileges. Authorizes appropriations for FY 1988 and 1989 to the Department of Commerce for the functions of the Under Secretary of Commerce for Export Administration. Title II: Export Trading Company Amendments - Amends the Bank Holding Company Act of 1956 to set forth the following additional factors to be considered in determining whether a company is an "export trading company:" (1) the operations of such company during the first two years shall not be taken into account in making such determination; (2) not less than four consecutive years of operations of such company (not including the first two years of operation) shall be taken into account in such determination; and (3) fees derived from the facilitation, outside of the United States, of trade services shall be treated as revenue derived from exporting or facilitating exports to the extent the fees are remitted to the United States and the aggregate amount of such fees does not exceed one-half the amount of revenue derived from export operations or the facilitation of export services. Defines "facilitation of trade services." Prohibits the Board of Governors of the Federal Reserve System from disapproving a proposed investment solely on the basis of the proposed asset-to-equity ratio of the export trading company unless the proposed annual average ratio is greater than 15 to one. Prohibits the Board from establishing a maximum dollar limit on the value of goods which export trading companies may maintain in inventory. Authorizes the Board to establish a maximum dollar limit on the value of goods which an export trading company may maintain in inventory if the Board finds that such limitation is necessary to prevent risks that would affect the financial or managerial resources of an investor bank holding company. Amends the Export Trading Company Act of 1982 to require the Office of Export Trade within the Department of Commerce to establish a program to assist the operation of export intermediaries, including existing and newly formed export management companies. Requires the Secretary of Commerce to submit a report to the Congress on Department of Commerce activities to promote the formation of new, and the operation of existing and new, export promotion intermediaries, including export management companies, export trade associations, and export trading companies. Title III: Export Promotion - Requires the Secretary of State and the Secretary of Commerce to review the number of U.S. diplomatic personnel who are engaged in commercial duties to assist U.S. exporters and businesses doing business outside the United States. Requires such Secretaries to increase the number of such personnel upon a determination that such number is insufficient to carry out such duties. Requires each chief of a U.S. diplomatic mission to a country which is a major U.S. trading partner to transmit to the President and the Congress a report describing: (1) strategy used by such mission to expand U.S. exports; and (2) efforts of such mission to assist U.S. industries in expanding export sales. Expresses the sense of the Congress that, in order to promote procurement opportunities for U.S. firms, each U.S. executive director to a multilateral development bank should: (1) inform U.S. firms of bidding opportunities in foreign countries; (2) help such firms complete and submit bidding documents; (3) investigate complaints about the awarding of contracts; and (4) ensure that contract procedures are observed. Expresses the sense of the Congress that a Foreign Commercial Officer should be assigned to each U.S. executive director to assist in promoting opportunities for procurement of U.S. goods or services. Directs the Secretary of Commerce to develop and maintain an export promotion data system to provide trade information to U.S. firms. Requires the Secretary of Commerce to designate an office of the International Trade Administration to act as business liaison with multilateral development banks which do not have U.S. offices. Requires such office to disseminate information relating to new projects, bid specifications, and deadline dates for such projects. Authorizes the Secretary of Commerce to designate eight U.S. missions abroad at which the U.S. and Foreign Commercial Service Officer will be able to use the title Minister-Counselor. Requires the Secretary of Commerce to prepare a reference manual for U.S. firms containing information related to exporting, foreign investment, foreign market conditions, foreign laws affecting exports, and sources of export and foreign investment financing. Requires such manual to be distributed to all field offices of the Departments of Commerce and Agriculture, and to State departments of commerce. Title IV: Exchange Rates and International Economic Policy Coordination - Exchange Rates and International Economic Policy Coordination Act of 1987 - Declares it is U.S. policy that: (1) the United States and other major industrialized countries should take steps to coordinate monetary policies initiated at the Tokyo Economic Summit in May 1986; (2) the goal of policy coordination should be to eliminate trade imbalances and to stabilize exchange rates; and (3) the United States and such other countries should coordinate the participation by central banks in international currency markets, with the objective of reducing fluctuations in the values of currencies, deterring currency speculation, and promoting the adjustment of exchange rates. Requires the President to negotiate with other countries to: (1) achieve better coordination of macroeconomic policies of the major industrialized countries, including sustainable levels of trade and current account balances and stability in the exchange rates of the U.S. dollar and other currencies; (2) review the functioning of the international exchange rate system; and (3) develop a program for modification of such system to provide for long-term exchange rate stability. Directs the President to annually determine which countries manipulate the exchange rate between their currency and the U.S. dollar. Requires the President, if such countries have global current account surpluses and trade surpluses with the United States, to initiate negotiations with such countries in the International Monetary Fund or bilaterally to ensure that such countries regularly adjust the exchange rates between their currencies and the U.S. dollar. Requires the Secretary of the Treasury to submit to specified congressional committees a report regarding international economic policy. Sets forth the contents of such report. Amends the Federal Reserve Act to include, in a specified annual report of the Board of Governors of the Federal Reserve System to the Congress, an analysis of the impact of the U.S. dollar's exchange rate on the U.S. economy. Title V: International Debt - Subtitle A: General Provisions - Sets forth congressional findings concerning international debt issues and sets forth the purposes and policy of this title. Subtitle B: The International Debt Management Authority - International Debt Management Act - Requires the Secretary of the Treasury to initiate discussions with industrialized and developing countries for the purpose of establishing a multilateral financial intermediary which would: (1) purchase sovereign debt of less developed countries from private creditors at an appropriate discount; (2) enter into negotiations with debtor countries for the purpose of restructuring debt; and (3) assist the creditor banks in the voluntary disposition of their Third World loan portfolio. Lists specific proposals which the Secretary should include in any such discussions. Requires the Secretary to report to the Congress on a regular basis on the progress being made on such study and in such discussions. Requires the Secretary to review potential resources available to the United States and to multilateral financial institutions which could be used to support the creation of an international debt management facility. Expresses the sense of the Congress that: (1) a solution to the practice of capital transfers from developing countries is essential to solving the international debt problem and enhancing and sustaining economic growth in developing countries; and (2) the U.S. Executive Director of the International Monetary Fund (IMF) should begin discussions for the purpose of developing policy proposals for both developed countries and developing countries. Subtitle C: Regulatory Provisions Affecting International Debt - Declares that it is the policy of the United States that: (1) commercial banks should establish reserves against the risks inherent in international lending; and (2) U.S. commercial banks should have significant latitude to restructure the terms and conditions on their existing loans. Amends the International Lending Supervision Act of 1983 to require the appropriate Federal banking agencies to conduct a study of any regulatory or accounting barriers to exchanges of foreign debt for equity. Requires the Secretary of the Treasury to instruct the U.S. Executive Director of the World Bank to begin discussions on the appropriate role for the World Bank and the International Finance Corporation in supporting debt-to-equity swaps. Declares that it is the policy of the United States that the Secretary of the Treasury and the appropriate Federal banking agencies shall encourage the improvement of the economic health of the United States and other countries and of commercial banks by strengthening initiatives which address the high level of debt of certain heavily indebted international borrowers. Requires the Secretary and the banking agencies to report to the Congress on a study analyzing possible regulatory steps to encourage a reduction in the indebtedness of heavily indebted international borrowers to supervised banks in a way that would improve overall bank asset quality and reduce the burden of the loans on the countries themselves. Title VI: National Treatment of Financial Institutions - Amends the International Banking Act of 1978 to authorize a Federal banking agency (with the prior approval of the President) to deny any application by a foreign bank or foreign bank holding company if the country in which the foreign bank is chartered or the country in which the foreign bank holding company is incorporated or has its principal place of business does not accord to U.S. banks and bank holding companies the same competitive opportunities as it accords to domestic banks and bank holding companies. Prohibits the Federal Reserve Board and the Federal Reserve Bank of New York from designating any person of a foreign country as a primary dealer in Government debt instruments if that foreign country does not accord to U.S. companies the same competitive opportunities in the underwriting and distribution of Government debt instruments issued by that country as it accords to domestic companies. Allows an exception to such prohibition for countries having or negotiating bilateral agreements with the United States. Title VII: Foreign Corrupt Practices - Foreign Corrupt Practices Act Amendments of 1987 - Amends the Securities Exchange Act of 1934 to prohibit the imposition of criminal liability on securities issuers who fail to maintain an internal accounting controls system. Prohibits anyone from knowingly circumventing such accounting system for a purpose inconsistent with the accountability and accuracy goals of such system. Requires only good faith efforts at ensuring compliance by issuers who hold 50 percent or less of the voting power of domestic or foreign firms. Defines "reasonable assurances" and "reasonable detail." Repeals a provision relating to the unlawful use of the mails by a securities broker or dealer to affect a foreign exchange. Authorizes the Securities and Exchange Commission to transmit evidence concerning unlawful payments to foreign officials to the Attorney General, who shall annually report on the disposition of such referrals to the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Energy and Commerce. Amends the Foreign Corrupt Practices Act of 1977 to revise the prohibition against domestic concerns using any means of interstate commerce to make payments to a foreign official to obtain business. States that such a payment made directly or indirectly to a foreign official is illegal. Prohibits such payments that are made to: (1) influence a foreign official's act or induce such an official to violate a legal duty; or (2) induce a foreign official to affect a foreign government's act. Prohibits domestic concerns from using interstate commerce to direct or authorize an agent to make such a payment to a foreign official. Exempts from such prohibitions: (1) payments to foreign officials to expedite or to secure the performance of routine governmental action; (2) payments which constitute tokens of regard or esteem; (3) expenditures associated with selling, purchasing, or demonstrating goods; or (4) ordinary expenditures associated with performing a contract with a foreign government. Revises the fines and criminal penalties for violations of such Act. Empowers the Attorney General to undertake all civil investigations necessary to enforce such Act.
United States · United States Congress · 19 June 1987
Grants a Federal charter to the Non Commissioned Officers Association of the United States of America, Incorporated.
United States · United States Congress · 19 June 1987
Nuclear Waste Transportation Act of 1987 - Amends the Hazardous Materials Transportation Act to add a new Subtitle B: Transportation of High Level Radioactive Waste and Spent Nuclear Fuel, to provide that a package design shall be certified by the Nuclear Regulatory Commission (NRC) and adopted by the Secretary of Energy and the Secretary of Defense only after it has been proven in actual tests on full-scale packages, (not simulated tests, tests on scale models, or engineered analyses). Requires the Secretary of Energy to report to the NRC and to the Congress within one year of the date of enactment of this Act on whether foreign package design safety standards should be adopted in the United States. Mandates that as of the date of enactment of this Act, no high level radioactive waste may be transported by or for the Secretaries of Energy, of Defense, or of Transportation except in packages certified for such purpose by the NRC. Requires the NRC to conduct public hearings on the adequacy of the design standards and tests for packages used in radioactive waste transportation. Urges the Secretary of Transportation to give preference to rail transportation of radioactive waste when selecting shipping routes. Directs the Secretary of Transportation (the Secretary) to establish a licensing program for radioactive waste transportation. Prescribes guidelines for such program. Prohibits the Secretary from approving a radioactive waste transportation route through an area designated by the Bureau of the Census as an urbanized area if certain local officials of the affected area recommend a significantly safer route. Requires the Secretary to provide training for local public safety officials through whose jurisdictions the Federal Government plans to transport radioactive waste. Requires the appropriate Federal agency to notify the local public safety officials through whose jurisdiction the Federal Government plans to make unclassified shipments of radioactive waste. Authorizes the States and Indian tribes to impose regulations regarding radioactive waste transportation through their jurisdictions. Prescribes deadlines for the Secretary's prompt response to license applications. States that funding for activities under this Act shall be derived from the Nuclear Waste Fund.
United States · United States Congress · 19 June 1987
Expresses the sense of the Congress that: (1) the President should express to West Germany that the United States expects it to comply with its treaty obligations by extraditing terrorist Mohammed Hamadei to the United States; and (2) any action by West Germany that involves the exchange of Hamadei for German nationals being held hostage by terrorists will have extremely serious consequences for the relationship between the two countries.
United States · United States Congress · 17 June 1987
Constitutional Amendment - Requires the Congress and the President, prior to each fiscal year, to agree, by enactment of a joint resolution, on an estimate of total receipts for that fiscal year. Prohibits outlays for that year from exceeding such estimated receipts unless the Congress, by a three-fifths rollcall vote of each House, provides for a specific excess of outlays over receipts. Requires the Congress, whenever actual outlays exceed actual receipts for any fiscal year, to provide by law for the repayment of such excess in the ensuing fiscal year. Requires a three-fifths rollcall vote of each House to increase the public debt. Directs the President to submit to the Congress a proposed budget for each fiscal year in which total outlays do not exceed total receipts. Requires the approval by a majority of the total membership of each House by rollcall vote before any bill to increase revenue may become law. Waives this article for any fiscal year in which a declaration of war is in effect. Declares that total receipts shall include all receipts of the United States, except those derived from borrowing and total outlays shall include all outlays of the United States except those for repayment of debt principal.
United States · United States Congress · 11 June 1987
Amends provisions of postal law to eliminate the use of the franking privilege for mass mailings. Exempts from such prohibition mailings: (1) which are in direct response to communications from persons to whom the matter is mailed; (2) which consist of individually addressed responses on a specific issue to constituents; (3) to colleagues in the Congress or to other Government officials; (4) of news releases to the communications media; (5) which consist of news announcements on a specific issue individually addressed to the chief officer and any member of the board of directors of a corporation or organization with an interest in the specific issue; (6) which consist of materials not prepared by or relating to a Member of Congress; or (7) the sole purpose of which is to give notice of a town meeting.
United States · United States Congress · 9 June 1987
Performing Arts Labor Relations Amendments - Amends the National Labor Relations Act to exclude specified types of employers and performers in the performing arts from coverage under unfair labor practice provisions prohibiting specified contracts or agreements between employers and labor organizations and prohibiting specified actions of labor organizations to force or require cessation of dealings with others, joining of labor or employer organizations, or recognition of or negotiation with labor organizations not certified as representative. Permits such employers, excluding employers in the broadcasting or motion picture industries, to: (1) agree with a labor organization to make membership in such organization a condition of performing arts employment; and (2) make agreements with a labor organization covering performing artists even if the majority status of the organization has not yet been established. Defines "employer" to include purchasers of musical performance services. Defines "employee" to include independent contractors engaged to perform musical services.
United States · United States Congress · 4 June 1987
Tender Offer Disclosure and Fairness Act of 1987 - Amends the Securities Exchange Act of 1934 to decrease from five percent to three percent the amount of securities acquired in a corporation which triggers disclosure requirements. Reduces from ten days to one day the time in which public disclosure must be filed with the Securities and Exchange Commission (Commission). Requires such disclosure to include: (1) the identity of all persons with whom the filing person had communications regarding such acquisition within 90 days prior to the acquisition; (2) the sources of financing used to make the acquisition; (3) a statement by the filing person as to whether the acquisition is for the purpose of investment or for the purpose of taking control of such corporation; and (4) an itemized statement of all fees and other expenses paid or incurred in connection with the acquisition. Prohibits any person required to file such a disclosure from acquiring any additional amount of securities until the disclosure has been filed with the Commission and an announcement has been publicly disseminated. Requires that any material changes in facts relating to a filing must be made by the end of the next business day following such change. (Present law requires such a change to be made promptly.) Includes within the definition of those required to file such disclosures any group of two or more persons acting in concert or in a coordinated or consciously parallel manner (whether or not pursuant to an express agreement). (Present law requires disclosure only from groups of persons acting as a partnership, limited partnership, syndicate, or other group.) Prohibits anyone who has disclosed that the purpose of the acquisition is investment from making any tender offer for additional shares of securities until six months after the filing of an amended disclosure statement indicating that the purpose is to obtain control of the corporation. Makes unlawful: (1) the making of any false statements of material fact or the omission of any material fact regarding any required disclosure statement; and (2) engaging in any fraudulent, deceptive, or manipulative acts or practices in connection with any required disclosure statement. Provides for a private right of action for damages and equitable relief by the issuer of securities for any intentional disclosure violations or for any violation of margin requirements in connection with tender offer financing. Requires any person making a tender offer for shares of securities of a corporation to keep such offer open for a minimum of at least 35 business days. Prohibits any person to acquire more than 15 percent of any of the shares of any class of securities in a corporation unless such acquisition is made pursuant to a tender offer. Allows the Commission to exempt any person or transaction from such prohibition to the extent that such exemption is necessary or appropriate in the public interest and for the protection of investors. Prohibits an issuer from: (1) buying back its securities at a price above the market value (Greenmail) from any person holding more than three percent of those securities if that person held the stock less than six months, unless the stock is purchased by a tender offer open to all shareholders or the repurchase is approved by a majority of the issuer's shareholders; (2) during the pendency of a tender offer, entering into agreements that increase the current or future compensation (except for a routine increase) of any officer or director (Golden Parachute payments); and (3) establishing any rights to acquire any securities, during the pendency of the tender offer, if such rights would permit such shareholders to purchase securities of an acquiring company or the issuer (Poison Pill defense). Prohibits any person from acting as a "tender offer arbitrageur" unless registered with the Commission. Defines a "tender offer arbitrageur" as any person who regularly buys and sells registered securities, for his or her own account or for the account of others, in response to, or in anticipation of, a merger, tender offer, recapitalization, restructuring, or other similar transaction. Amends the Employee Retirement Income Security Act (ERISA) to exempt from liability for breach of fiduciary duties any employee benefit plan trustees who decide in response to a tender offer not to tender securities which are held in trust by the benefit plan. Prohibits any part of the residual assets of a benefit plan from being used to finance, directly or indirectly, any acquisition of the securities of the employer pursuant to a tender offer including the repayment, redemption, or refinancing of any indebtedness incurred by such person in connection with any such acquisition. Increases the insider trading criminal penalties from a maximum of five years imprisonment or a $100,000 fine to a maximum of ten years imprisonment or a $1,000,000 fine. Requires a minimum criminal penalty of one year imprisonment for perjury or obstruction of justice in connection with an insider trading investigation. States that the Congress declares that the internal affairs or governance of corporations shall be subject to regulation by the laws of the State under which such corporation is organized.
United States · United States Congress · 3 June 1987
Prohibits the proposed enhancement or upgrade in the sensitivity of technology of, or the capability of, Maverick missiles for Saudi Arabia.
United States · United States Congress · 29 May 1987
Authorizes and requests the President to designate the month of April as Fair Housing Month.
United States · United States Congress · 29 May 1987
Designates January 8, 1988, as National Skiing Day.
United States · United States Congress · 28 May 1987
Deterrence of State-Sponsored Terrorism Act of 1987 - Requires the Secretary of State to prepare and transmit annually to the Congress a report setting forth a list of countries repeatedly providing support for acts of international terrorism (terrorist list). Requires that certain sanctions be imposed upon the countries named in such terrorist list within 30 calendar days unless the President transmits a written determination to the Congress that the national interests of the United States or humanitarian interests dictate otherwise. Provides that the Congress may disapprove of the President's determination by enactment of a joint resolution within 30 legislative days. Specifies that such sanctions shall go into effect as of the date of enactment of such joint resolution. Authorizes the President to remove such sanctions upon a determination that it is in the national interest or in humanitarian interests to do so unless the Congress passes a joint resolution disapproving of such determination. Allows the President to remove such sanctions either partially or completely upon a certification to certain committees of the Congress that an emergency situation exists. Specifies that such sanctions shall consist of: (1) termination of all U.S. assistance to such country; (2) termination of the importation of technology and goods which are produced, grown, or manufactured in such country or the imposition of additional duties on such imports; (3) denial to all products of such country of duty-free tariff treatment under the Generalized System of Preferences; (4) termination of any air or sea transportation agreement in effect between the United States and such country; (5) U.S. opposition to any loan or other use of funds for that country by international financial institutions; (6) a presidential prohibition on the transfer out of the United States of any property or credit in which such country or a national has a financial interest; and (7) the denial of any income tax credits for the amount of any income, war profits, and excess profits taxes paid or accrued to such country by taxpayers of the United States. Expresses the sense of the Congress that in any case in which such a sanction is imposed against a country, the President should try to obtain the imposition of similar sanctions by U.S. allies. Specifies the procedure for congressional review of presidential determinations required by this Act for the consideration and enactment of joint resolutions of disapproval of such determinations.
United States · United States Congress · 28 May 1987
Designates July 20 of each year as Space Exploration Day.
United States · United States Congress · 28 May 1987
Designates the week of July 13, 1987, as Snow White Week.