Skip to content
PoliticalRepoPoliticalRepo

Person

Official portrait of Sen. Proxmire, William [D-WI]

Sen. Proxmire, William [D-WI]

United States · Official source

Records

1,556 records where Sen. Proxmire, William [D-WI] is listed as a sponsor, author, or other actor. Search with topics and years

Bill· SS. 1201 (100th)referred

A bill to prevent consumer abuses by credit repair organizations.

United States · United States Congress · 14 May 1987

Amends the Consumer Credit Protection Act to set forth the Credit Reporting Reform Act as revised title IV. Prohibits any credit services organization (any person who provides a service for the purpose of improving a buyer's credit record or obtaining an extension of credit for a buyer) from: (1) charging or receiving money prior to the completion of its services (unless it has obtained a $10,000 surety bond); (2) charging or receiving money solely for the referral of a buyer to a retailer if the credit which may be extended is upon substantially the same terms as those available to the general public; (3) advising any client to make an untrue or misleading statement; and (4) using any untrue or misleading statement in the offer or sale of its services. Requires the organization to provide the buyer with a written statement which includes a description of: (1) the buyer's rights; (2) the approximate price the buyer will be charged for the service; and (3) the services to be performed by the organization. Sets forth contract requirements and the rights of the buyer with regard to cancellation of such contract. Subjects any organization which fails to comply with any provision of this Act to civil liability. Grants any appropriate U.S. district court jurisdiction in such actions (without regard to the amount in controversy). Provides a two-year statute of limitations for such actions (unless the defendant has materially and willfully misrepresented any information required under this Act). Provides for the administrative enforcement of this Act by the Federal Trade Commission, as provided in the Federal Trade Commission Act.

Bill· SS. 1130 (100th)referred

Freedom of the Department of Defense Press Act of 1987

United States · United States Congress · 5 May 1987

Freedom of the Department of Defense Press Act of 1987 - Establishes the Commission on Freedom of the Department of Defense Press (the Commission). Directs the Commission to convene its first meeting within 15 days after the date on which all the members of the Commission have been appointed. Requires the Commission to: (1) examine the editorial policies and operations of the Department of Defense (DOD) and specified newspapers published by DOD in order to determine the amount of censorship and news management permitted within their editorial policies and operations; (2) identify and investigate complaints made to DOD and the Commission by members and former members of the Pacific and European editions of the Stars and Stripes with respect to the presence of censorship and news management practiced by such DOD publications; and (3) determine whether increased civilian participation in the editorial operations of such newspapers will decrease the likelihood of such censorship and news management practices. Directs the Commission, within 90 days after its first meeting, to report to the Secretary of Defense and to the Congress the results of its investigation, together with any appropriate recommendations. Authorizes the Commission to conduct hearings and secure information from various sources in order to aid its investigation. Outlines administrative procedures relating to the meetings and information-gathering powers of the Commission, including the ability to issue and enforce subpoenas; pay, travel expenses, and staff for members of the Commission; and the power to procure temporary and intermittent services in order to carry out its specified duties. Directs the Administrator of General Services to furnish the Commission, on a reimbursable basis, any administrative and support services requested by the Commission. Directs the Commission members, whenever possible, to use military transport when traveling to perform its functions. Terminates the Commission 60 days after the date on which the Commission submits its report, above. Directs payment of Commission expenses to be paid from Department of the Army funds.

Bill· SS. 1106 (100th)referred

Underground Nuclear Explosions Control Act of 1987

United States · United States Congress · 29 April 1987

Underground Nuclear Explosions Control Act of 1987 - Makes congressional findings concerning the testing of nuclear weapons. Prohibits the obligation of funds, during a two-year period beginning 180 days after enactment of this Act, for the conducting of an underground nuclear explosion: (1) with a yield greater than one kiloton, except for two test explosions, each with a yield not exceeding 15 kilotons; (2) at a location that is not part of a single designated test area; and (3) unless a public announcement has been made at least 30 days before the date of the explosion. Specifies that such prohibition shall not apply if the President certifies to the Congress (and the Congress approves such certification) that the Soviet Union: (1) has carried out such tests; or (2) has refused to implement reciprocal, in-country monitoring arrangements. Declares that such limitations on nuclear test explosions shall be supplanted by a U.S.-Soviet agreement which makes reductions in the number or yield of underground nuclear explosions permitted under treaties between the United States and the Soviet Union signed before January 1, 1987. Sets forth definitions. Specifies special procedures for considering legislation approving presidential certifications required by this Act.

Bill· SS. 1101 (100th)referred

A bill entitled the "Foreign Primary Dealer and Bank National Treatment Act of 1987".

United States · United States Congress · 28 April 1987

Expresses congressional findings, including that U.S. firms seeking to compete in Japan face discriminatory barriers which effectively preclude fair competition for Japanese business. Prohibits the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York from designating, or permitting continued designation of, any person of a foreign country as a primary dealer in Government debt instruments if U.S. companies are denied equal access in the acquisition of government debt instruments issued by such country. Allows exceptions to such requirement for countries involved in or negotiating bilateral agreements with the United States as of January 1, 1987. Amends the International Banking Act of 1978 to allow Federal banking agencies to deny any application or disapprove any notice by a foreign bank or bank holding company if the country in which such bank or bank holding company is chartered or incorporated does not accord to U.S. banks and holding companies equality of competitive opportunity with domestic banks and bank holding companies.

Bill· SS. 1009 (100th)open

A bill to accept the findings and to implement the recommendations of the Commission on Wartime Relocation and Internment of Civilians.

United States · United States Congress · 10 April 1987

Title I: Recognition of Injustice and Apology on Behalf of the Nation - States that the Congress accepts the findings of the Commission on Wartime Relocation and Internment of Civilians and recognizes that a grave injustice was done to both citizens and resident aliens of Japanese ancestry by the evacuation, relocation, and internment of civilians during World War II. Title II: United States Citizens of Japanese Ancestry and Resident Japanese Aliens - Requests the President to offer pardons to those convicted of violating laws during the internment period whose conduct was based on a refusal to accept racially or ethnically discriminatory treatment. Provides that Federal departments and agencies that review applications for restitution of positions, status, or entitlement lost during the internment period shall review such applications giving full consideration to the findings of the Commission. Establishes within the Treasury a Civil Liberties Public Education Fund. Authorizes appropriations for the Fund. Requires the Attorney General to pay $20,000 from the Fund in compensation to each surviving internee. Establishes a Board of Directors which shall be responsible for making disbursements from the Fund. Provides that disbursements from the Fund shall be used to: (1) sponsor research and public educational activities dealing with the internment; (2) fund studies of similar civil liberties abuses; (3) prepare and distribute hearings and findings of the Commission; and (4) promote the general welfare of the ethnic Japanese community in the United States. Title III: Aleutian and Pribilof Islands Restitution - Aleutian and Pribilof Islands Restitution Act - Establishes within the Treasury the Aleutian and Pribilof Islands Restitution Fund. Directs the Administrator of the Fund (the Aleutian/Pribilof Islands Association) to make restitution for certain Aleut losses sustained in World War II. Requires the Administrator to establish a trust of $5,000,000 and to distribute the interest of such trust for: (1) the benefit of the elderly, disabled, or seriously ill; (2) students in need of scholarship assistance; (3) preservation of Aleut cultural heritage and historical records; (4) the improvement of community centers of affected Aleut villages; and (5) other purposes to improve Aleut life. Authorizes the Administrator to rebuild and restore churches and church property damaged or destroyed in Aleut villages during World War II. Requires the Secretary of the Treasury to make payments of $12,000 from the fund to eligible Aleuts for any uncompensated personal property losses. Provides that such payments shall not be considered income or receipts for purposes of Federal taxes or determining eligibility for Federal benefits or assistance. Authorizes appropriations. Requires the Secretary of the Army to implement a program for the removal and disposal of live ammunition, obsolete buildings, abandoned machinery, and other hazardous debris remaining in populated areas of the lower Alaska Peninsula and the Aleutian Islands. States that the authority contained in this Act shall be supplemental to the authority of the Secretary of Defense in administering the Environmental Restoration Defense Account and shall be exercised only in the event that such account is inadequate to eliminate hazardous military debris from populated areas of the Lower Alaska Peninsula and the Aleutian Islands. Authorizes appropriations. Provides that bidding rights for surplus Federal property might be exercised by the Aleut Corporation in lieu of conveyance of Attu Island to the Aleut people, such island having been designated as wilderness. States that the bidding rights shall be exercised by the Aleut Corporation without any preference over any other bidder. Provides that an amount equal to $500 for each acre traditionally occupied by the Aleut people on Attu Island shall be transferred to the Corporation account established by this Act and made available to the Corporation for such bidding.

Bill· SS. 1027 (100th)referred

A bill to prohibit trade between the Soviet puppet regime in Afghanistan and the United States.

United States · United States Congress · 10 April 1987

Prohibits importation into the United States of any products grown, produced, or manufactured (in whole or in part) in Afghanistan and exported by the Democratic Republic of Afghanistan or any other faction supported by the Soviet Union. Prohibits exports to Afghanistan for the benefit of such a faction of any goods or technology subject to the jurisdiction of the United States.

Bill· SS. 1008 (100th)referred

A bill to provide for State regulation of the transportation of high level radioactive waste.

United States · United States Congress · 10 April 1987

Amends the Atomic Energy Act of 1954 to prohibit a person from transporting nuclear waste or spent nuclear fuel without a license from the Nuclear Regulatory Commission. Sets forth the application requirements and mandates the inclusion of an emergency response and mitigation plan outlining procedures to be taken in the event of a release or potential release of radioactive waste. Requires the Commission to prepare an environmental analysis according to specified guidelines prior to issuing a radioactive waste transportation license. Sets forth the conditions under which the Commission is authorized to issue such a license. Requires specified Federal bodies, in consultation with the States and affected Indian tribes, to determine the emergency response capabilities of corridor States and affected Indian tribes. Mandates the development and exercise of such emergency response plans within 12 months after a transportation license is issued. Proscribes any shipments unless such plans are developed and periodically exercised. Identifies the types of regulations which the States and Indian tribes may impose. States that such nuclear waste transportation restrictions are inapplicable if the Commission certifies that there are compelling reasons of public safety or national security which necessitate the immediate transportation of the waste to another site or facility.

Bill· SS. 998 (100th)referred

A bill entitled the "Micro Enterprise Loans for the Poor Act".

United States · United States Congress · 9 April 1987

Makes congressional findings concerning rural and urban poor in developing countries. Requires the Administrator of the agency responsible for administering the Foreign Assistance Act of 1961 to make assistance available to financial intermediaries in developing countries to enable them to provide loans and other assistance for micro and small enterprises of the poorest people. Specifies that such assistance may be made available for use by such financial intermediaries: (1) in extending credit for micro and small enterprises; (2) in extending credit for such purposes as food processing and production of cloth and clothing; (3) for the start-up costs incurred by a nongovernmental organization in becoming a financial intermediary; (4) for expenses incurred by financial intermediaries in providing training and technical assistance for micro and small enterprises; and (5) to provide other assistance necessary to the successful functioning of micro and small enterprises. Requires the Administrator to issue guidelines for financial intermediaries providing such assistance. Requires the Administrator to place primary emphasis on the development of the capacity of and use of indigenous nongovernmental organizations (especially those representing women, tribal people, and other minorities) which will provide credit and other assistance to micro and small enterprises. Requires the Administrator to conduct a benchmark survey to determine the total amount of assistance made available during FY 1987 for credit and other assistance for micro and small enterprises under the Foreign Assistance Act of 1961 and the Agricultural Trade Development and Assistance Act of 1954 and to report to the Congress on the results of such survey. Sets forth the total amounts of assistance to be provided for such programs for FY 1988 and 1989. Specifies that such amounts shall be made available from: (1) funds made available under provisions of the Foreign Assistance Act of 1961 relating to development assistance, Africa famine recovery and development, and economic support; (2) foreign currencies generated from specified sources; and (3) amounts paid to the United States on loans made to financial intermediaries. Specifies that at least 80 percent of such amounts shall be used in support of micro enterprises. Authorizes the Administrator to use economic assistance funds to provide assistance to the governments of developing countries on a loan basis repayable in foreign currencies. Requires notification to the Congress of the reprogramming of economic assistance funds made available to financial intermediaries under this Act. Requires the Administrator to encourage economic policies which promote micro and small enterprises in policy dialogues concerning economic policies with, and efforts to reform economic policies of, countries receiving economic assistance from the United States.

Bill· SS. 950 (100th)open

Administrative Law Judge Corps Act

United States · United States Congress · 8 April 1987

Administrative Law Judge Corps Act - Amends Federal law to establish, in Washington, D.C., an Administrative Law Judge Corps (the Corps) comprised of all current administrative law judges. States that the chief administrative law judge shall be the chief administrative officer of the Corps as well as its presiding judge. Specifies the qualifications for chief judge. States that such judge shall be appointed by the President, with the advice and consent of the Senate. Directs the chief judge to submit a written report to the President and the Congress at the end of each fiscal year concerning the business of the Corps during the preceding fiscal year. Establishes between four and ten divisions within the Corps, with each division headed by a division chief judge appointed initially by the President, with the consent of the Senate. Identifies initial divisions and their respective areas of jurisdiction. Specifies qualifications required for division chief judges. States that the Corps' policymaking body shall be the Council of the Corps (the Council) comprised of the chief judge and the division chief judges. Authorizes the Council to: (1) assign judges to divisions and to transfer or reassign judges from one division to another; (2) create or abolish divisions of the corps; (3) appoint persons as administrative law judges and members of the Corps; (4) file charges against an administrative law judge; (5) prescribe certain rules of practice and procedure for proceedings before the Corps; (6) issue rules and regulations for the efficient conduct of the Corps; and (7) perform other administrative functions. Establishes a Judicial Nomination Commission (the Commission) to submit a list of qualified nominees for positions of chief judge and division chief judges. Specifies officials who shall appoint a member to the Commission. Sets the terms of initial Corps appointments and the procedure for filling vacancies. Prescribes a procedure for recommending appointments to the President. Directs the Council to appoint new judges from a register maintained by the Office of Personnel Management. Confers jurisdiction upon members of the Corps to adjudicate cases under specified sections of the Administrative Procedure Act. Requires cases arising under such sections to be referred to the Corps. Directs the Council to issue regulations for assigning such cases. Requires guidelines for the removal and discipline of administrative law judges. Establishes a Complaints Resolution Board within the Corps to recommend action upon complaints against the official conduct of judges. Details the membership of such Board and the procedures to be followed. Declares Board proceedings and the contents of complaints to be privileged and confidential. Exempts documents and reports considered by the Board from the disclosure and publication requirements of the Freedom of Information Act. Exempts the Board from compliance with the public meeting requirements of specified Federal law. Directs the Corps' chief administrative law judge to study the various types of agency review to which decisions of administrative law judges are subject. Sets guidelines for such studies and directs the Council to report the findings of such studies to the President and the Congress. Authorizes appropriations.

Bill· SS. 924 (100th)open

Alcohol, Drug Abuse, and Mental Health Services Block Grant Amendments of 1987

United States · United States Congress · 6 April 1987

Alcohol, Drug Abuse, and Mental Health Services Block Grant Amendments of 1987 - Amends title XIX (Block Grants) of the Public Health Services Act to authorize appropriations for block grants for alcohol and drug abuse and mental health services for FY 1988 through 1992. Revises the formula for allotment of such block grants to States and territories and possessions of the United States.

Bill· SS. 898 (100th)referred

International Lending Institution Safety Act of 1987

United States · United States Congress · 1 April 1987

International Lending Institution Safety Act of 1987 - Amends the International Lending Supervision Act of 1983 to require Federal banking agencies to jointly review annually the aggregate transfer risk exposures of U.S. banking institutions to foreign countries categorized by such agencies as either Other Transfer Risk Problems (OTRP) or Substandard. Provides that in estimating the value of such transfer risk the agencies shall estimate the degree to which an actual or real value of such exposure would be less than the book value of such exposure. Specifies that such estimate of exposure shall be based upon the following factors: (1) the price that banks are receiving to sell or swap loans to such countries; (2) relevant factors in loan rescheduling and restructuring agreements; (3) prospects for resumption of regular debt service; (4) export earnings by such countries; (5) foreign exchange reserves held by such countries; (6) compliance with external debt service obligations; and (7) relevant external debt service history. Directs each appropriate Federal banking agency to require a banking institution to: (1) establish and maintain a special reserve in the amount of not less than one-tenth of the difference between the book value of the institution's total exposure to foreign countries categorized as either OTRP or Substandard and the actual or real value of such exposure; and (2) increase such reserve each year by an amount not less than one-tenth of such difference. Specifies that such reserves shall be considered as part of capital and surplus or allowances for possible loan losses for regulatory, supervisory, or disclosure purposes. Provides that amounts allocated to such reserves shall not be treated as a directed charge off pursuant to certain Treasury regulations. Requires the Federal banking agencies to conduct a study of any regulatory or accounting barriers to exchange of foreign debt for equity. Requires each such agency to transmit a report on such study to the Congress, including recommendations for legislation. Directs the Secretary of the Treasury to ensure that any rescheduling of the indebtedness of any foreign country to the United States shall be accompanied by commitments that such foreign country will enhance the conditions for private direct investment by U.S. business concerns as well as by nationals of the foreign country. Provides that failure to comply with such commitments shall render that country ineligible for further rescheduling of such indebtedness until such commitments are honored, unless the Secretary informs the Congress in writing that such failure stems from factors beyond the control of the foreign country and that it is in the best interest of the United States to waive the restriction.

Bill· SS. 852 (100th)referred

A bill to improve Federal Government accountability over Federal contracts by requiring the Administrator of the Office of Federal Procurement Policy to assume the duties and responsibilities previously assigned to the Cost-Accounting Standards Board, and to conduct periodic profitability studies, among other things.

United States · United States Congress · 26 March 1987

Title I: Cost-Accounting Standards - Cost-Accounting Standards Amendments Act of 1987 - Amends the Defense Production Act of 1950 to establish a Cost-Accounting and Profits Reports Advisory Council to advise and make recommendations to the Administrator of the Office of Federal Procurement Policy with respect to cost accounting standards and Federal procurement policy. Transfers all authority and duties of the former Cost Accounting Standards Board to the Administrator and expands such authority over defense contracts to cover all Government contracts. Provides that regulations promulgated by the Administrator shall apply to contracts in excess of $500,000 (currently, $100,000). Revises the method for determining interest rates under such regulations and their effective dates. Requires referral to the Administrator of any case before a Board of Contract Appeals which requires the interpretation of a cost accounting standard. Provides that the Administrator's interpretation shall be made a part of the formal record of the case to be considered by the Board in its decision. Title II: Periodic Profit Studies - Government Contractor Profit Reports Act of 1987 - Amends the Renegotiation Act of 1951 to establish an Office of Procurement Studies and Analysis in the Office of Federal Procurement Policy to: (1) develop a uniform reporting system to govern profit information submitted by Government contractors; (2) establish criteria and procedures for profit studies; and (3) provide recommendations to revise and develop profit policies relating to the negotiation of Government contracts. Authorizes the Administrator to exclude any class of Government contractors as a covered company. Defines "covered company" as one in receipt of payments of at least $50,000,000 in any year. Requires covered companies to report annually to the Administrator on specified cost and pricing data. Requires the Administrator to conduct a study of profits made by covered companies at least once every three years and to report to the Congress, the President, and the Comptroller General annually on such studies. Grants the Administrator access to all information of covered companies relating to provisions of this Act. Authorizes the Comptroller General to review any profit study. Authorizes appropriations.

Bill· SS. 837 (100th)open

Minimum Wage Restoration Act of 1988

United States · United States Congress · 25 March 1987

Minimum Wage Restoration Act of 1987 - Amends the Fair Labor Standards Act of 1938 to provide for specified annual increases in the minimum wage. Provides, after such increases reach a certain level, for annual indexing of the minimum wage to 50 percent of the average hourly rate in the private sector.

Bill· SS. 833 (100th)referred

Nuclear Waste Transportation Prohibition Through Urbanized Areas Act of 1987

United States · United States Congress · 25 March 1987

Nuclear Waste Transportation Prohibition Through Urbanized Areas Act of 1987 - Prohibits the transportation of high level radioactive waste or spent nuclear fuel by or for the Department of Energy to any temporary or permanent storage facility operated by or for such Department through an area designated as an urbanized area if the affected local government can identify a safer route.

Resolution· SRESS.Res. 176 (100th)open

A bill calling for the immediate release of all the children detained under the state of emergency regulations in South Africa.

United States · United States Congress · 25 March 1987

Declares that the Senate: (1) calls for the immediate release of all the children detained under state of emergency regulations in South Africa; and (2) pending the release of the children, calls on South Africa to permit parental access to the children, make public their names and their location, provide them with adequate food, clothing, and protection, and permit an international organization to verify the above and make sure that such children are not abused or tortured.

Law· SS. 825 (100th)enacted

Housing and Community Development Act of 1987

United States · United States Congress · 24 March 1987

Housing and Community Development Act of 1987 - Title I: Program Extensions and Amendments - Subtitle A: General Extension of Programs - Amends the National Housing Act to make authority permanent for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) mortgage co-insurance including rental rehabilitation and development projects; (5) graduated payment and indexed mortgage insurance; (6) mortgage insurance for armed forces civilian employees and defense housing for impacted areas; (7) mortgage insurance for land development; and (8) mortgage insurance for medical and dental group practice facilities. Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones through September 30, 1989. Limits premium increases through such period to not more than a prorated annual amount of ten percent. Amends the Housing and Urban Rural Recovery Act of 1983 to extend indefinitely the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families. Extends the Home Mortgage Disclosure Act of 1975 permanently. Amends the Housing Act of 1964 to extend urban rehabilitation loan authority through September 30, 1989. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through September 30, 1989, for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; and (2) mutual and self-help housing grant and loan authority. Subtitle B: Mortgage Insurance and Secondary Mortgage Programs - Amends the National Housing Act to set premium charge limits for Federal Housing Administration (FHA) mortgage insurance. Requires the Secretary of Housing and Urban Development to certify to the Congress 90 days prior to any fee increase that such increase is solely for the purpose of meeting anticipated insurance claims and administrative expenses. Raises FHA multi-family mortgage limits. Permits the refinancing of graduated payment mortgages for the total outstanding balance if refinancing would result in a lower monthly mortgage payment. Makes nursing homes, intermediate care facilities, and board and care homes eligible for health care facility refinancing mortgage insurance. Makes public nursing homes, intermediate care facilities, and board and care homes eligible for mortgage insurance. Provides, with regard to hospital mortgage insurance eligibility, that in States not having a certifying agency the required certification of need and feasibility may be provided through a State-conducted or commissioned independent study. Authorizes city and State housing authorities to use unexpended low-income rental and cooperative housing funds for interest and rental assistance payments if so agreed to by the housing authorities and the Department of Housing and Urban Development (HUD). Increases FHA authority to insure adjustable rate single-family mortgages. Prohibits the imposition of user fees on Government-sponored secondary mortgage market agencies. Amends the Federal National Mortgage Association Charter Act to permit the elimination of cumulative voting in the election of Federal National Mortgage Association (Fannie Mae) board members. Directs the Secretary to take appropriate administrative actions to reduce losses on mortgage insurance programs. Authorizes the Secretary to require mortgagors and lenders to report the taxpayer identification numbers of National Housing Act borrowers. Requires mortgagors with high default rates to submit reports, including proposed corrective steps, to the Secretary. Amends the National Housing Act to transfer mortgage insurance programs for Hawaiian homelands and Indian lands from the Mutual Mortgage Insurance Fund to the General Insurance Fund of the Treasury. Permits Native Hawaiians to transfer FHA-financed property to their children or surviving spouses who do not meet the legal definition of native Hawaiian. Provides applicants for National Housing Act property improvement or manufactured home loan insurance with the option, until January 1, 1988, of complying with either the regulations in effect prior to January 15, 1986, or the regulations published on October 25, 1985. Directs the Secretary to establish a demonstration program of home equity conversion mortgage insurance for elderly homeowners. Authorizes the Secretary to insure any home equity conversion mortgage eligible for insurance and to make insurance commitments to the extent the Secretary determines such mortgages: (1) have promise for improving the financial status or otherwise meeting the special needs of elderly homeowners; (2) will include appropriate risk safeguards for mortgagors; and (3) have acceptance potential in the private mortgage market. Sets forth provisions regarding: (1) eligibility; (2) disclosure; and (3) mortgagor information. Prohibits mortgages without a prior commitment from being insured after September 30, 1991. Limits: (1) the total number of insured mortgages to 2,500; and (2) insurance coverage to maximum one-family residence amounts under such Act. Prohibits the Secretary from insuring a home equity mortgage unless the mortgage defers repayment until the homeowner's death, sale of the house, or other occurrence as specified by the Secretary. Requires the Secretary to: (1) submit an interim program report to the Congress by September 30, 1989; (2) submit a preliminary program evaluation to the Congress by March 30, 1992, and biennial program reports thereafter; and (3) issue proposed implementing regulations. Amends the Federal National Mortgage Association Charter Act to permanently extend the authority of Fannie Mae to purchase residential second mortgages. Amends the Federal Home Loan Mortgage Corporation Act to permanently extend the authority of the Federal Home Loan Mortgage Corporation (Freddie Mac) to purchase residential second mortgages. Amends specified provisions of the National Housing Act regarding negotiated interest rates, including certain provisions regarding nursing home fire safety equipment. Amends the definition of veteran, for purposes of mortgage insurance and rehabilitation and neighborhood conservation housing insurance, to require that persons who enlisted in the armed forces after September 7, 1980, or who entered active duty after October 16, 1981, have their eligibility determined in accordance with specified Federal law. Repeals specified coinsurance provisions. Amends the Housing and Community Development Act of 1977 to repeal the requirement that HUD prepare annual prototype housing costs. States that any new credit authority provided by this Act shall be effective only to the extent that such amounts are approved in appropriation Acts. Subtitle C: Community and Neighborhood Development and Conservation Programs - Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through September 30, 1989. Reduces FY 1991 grants by 50 percent to any such entity that loses its entitlement classification, with the remaining 50 percent allocated to the small city community development program (for which such entity would be eligible). Gives cities becoming classified as metropolitan cities the option to defer such classification if they elect to have their population included in an urban county. Stipulates for FY 1988 that a city may elect not to retain its metropolitan city classification. Includes within the definition of urban county a county that has: (1) a combined population in excess of 175,000; (2) more than 50 percent of its housing units unsewered; and (3) a specified sole source acquifer. Extends through FY 1989 the transition classification of a designated urban county whose decreased population no longer entitles it to such designation. Defines the entire nonmetropolitan area of a State as the designated area for making community development block grant (CDBG) income determinations. Considers the counties of Kauai, Maui, and Hawaii in the State of Hawaii as cities for urban development action grant (UDAG) purposes. Authorizes UDAG appropriations through FY 1989. Modifies UDAG selection criteria so that: (1) 65 percent of such grants are awarded on the basis of distress, impact, and project quality and (2) 35 percent on project quality alone. Awards bonus points for certain cities that have not received a grant since October 15, 1984. Requires at least two rounds of UDAG grant competitions annually. Permits a city to retain any repaid UDAG funds. Requires the city to submit a plan to the Secretary for such funds' reuse. Prohibits the Secretary from discriminating against applications on the basis of the type of activity involved. Requires the Comptroller General to: (1) report to the Congress within six months, and every three years thereafter, regarding such selection criteria and eligibility standards; and (2) report to the Congress within three months of the final FY 1987 grant competition regarding targeting of grants, geographic distribution, funding levels, and economic development. Prohibits relocating a business from one UDAG area to another unless the Secretary determines that no adverse effect will result. Authorizes appropriations through FY 1989 for: (1) CDBG; and (2) urban homesteading. Extends the local property demonstration program through FY 1989. Extends the evaluation reporting date to December 31, 1989. Gives homesteading priority to lower income families. Amends the Housing Act of 1964 to prohibit risk premiums or loan fees under the rehabilitation loan program. Amends the Neighborhood Reinvestment Corporation Act to authorize appropriations for the Neighborhood Reinvestment Corporation through FY 1989. Modifies the composition of the Neighborhood Reinvestment Corporation Board to permit designated members rather than only the Chairmen of the Home Loan Bank Board, the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the National Credit Union Administration, to be on such Board. Amends the Housing and Urban-Rural Recovery Act of 1983 to authorize appropriations for the neighborhood development demonstration program through FY 1989. Amends the Housing and Community Development Act of 1974 to prohibit a State from deducting administrative expenses from distribution amounts in entitlement areas in excess of the sum of $100,000 ($102,000 under current law) plus 50 percent of a State's administrative expenses above $100,000. Authorizes the City of Hartford, Connecticut, to retain and use certain land disposition proceeds from the financially closed-out Sheldon Charter Oak, Section A Urban Renewal Project (No. Conn. R. 77). Subtitle D: Miscellaneous Program Amendment - Amends the National Flood Insurance Act to authorize appropriations for flood insurance programs through FY 1989. Directs the Secretary and the Secretary of Agriculture to: (1) collect social and ethnic data on the participants of their respective housing and related programs; and (2) include such information in their annual reports to the Congress. Amends the Solar Energy and Energy Conservation Bank Act to authorize appropriations for residential and commercial solar energy improvements through FY 1989. Amends the Housing and Urban Development Act of 1970 to authorize appropriations for housing research and project development through FY 1989. Title II: Housing Assistance - Subtitle A: Programs Under United States Housing Act of 1937 - Amends the United States Housing Act of 1937 to authorize FY 1988 and 1989 budget authority for lower income housing. Makes recaptured program funds for public housing development, comprehensive improvement assistance, or Indian housing available for reuse. Requires: (1) 15-year terms for annual contributions contracts for (section 8) existing dwellings; (2) administrative and preliminary fees to be calculated according to the method in effect prior to January 1, 1985; and (3) an annual adjustment of fair market rents as of October 1 of each year. Authorizes appropriations through FY 1989 for public housing authority (PHA) operating subsidies. Prohibits the Secretary from totally restricting public housing admissions to very-low income families. Provides a displacement exemption for low-income families. Authorizes appropriations through FY 1989 for the rental rehabilitation and development program. Extends eligibility to housing which is owned by State or locally chartered neighborhood nonprofit organizations. Sets rehabilitation assistance caps at $7,500 per unit for units with up to two bedrooms and $8,500 per unit for units with three or more bedrooms (current cap is $5,000 per unit). Gives grantees the option of basing their assisted housing rent on recent median area income or on such income at the time of the grantee's project application. Authorizes the Secretary to require HUD applicants or participants to provide social security or employer identification numbers in order to verify eligibility. Amends the Social Security Act to provide HUD with access to State wage or unemployment compensation records. Limits the use of such information to housing eligibility purposes. Sets forth applicant and participant protections. Imposes a criminal penalty for the wrongful request or disclosure of such information. Amends the United States Housing Act of 1937 to permit public housing residents to form resident management corporations. Requires such corporations to obtain fidelity bonding and insurance and have their records audited annually. Authorizes such projects to receive comprehensive improvement assistance. Provides for: (1) retention of excess revenues; and (2) resident management technical assistance and training. Limits financial assistance to: (1) $100,000 for any particular project; and (2) $1,500,000 for the total program. Provides lower income public housing residents with the opportunity to purchase project dwelling units through a qualifying resident management corporation. Requires, as conditions for resident ownership, that: (1) a resident management corporation be formed; (2) the corporation has entered into a contract with the PHA; and (3) the corporation has demonstrated its managerial ability for at least three years. Authorizes the Secretary to provide comprehensive improvement assistance to a project undergoing resident ownership activities. Sets forth purchase conditions, including: (1) PHA public hearings; (2) safety and livability determinations; and (3) PHA certification of sold unit replacement if justified by local low-income housing needs. Sets forth resale conditions, including: (1) permitted resale only to the resident management corporation, PHA, or other eligible low-income family; and (2) recapture of profit for any unit resold within five years. Requires that sale or recapture proceeds be used only to increase the number of available units. Permits PHA financing if no other source is available. Sets the interest rate at not less than 70 percent of the conventional mortgage rate. Requires HUD to continue to pay annual assistance to the project. Eliminates operating subsidies for a purchased building. Sets forth the following protection for nonpurchasing families: (1) eviction prohibition; (2) tenants' rights; (3) and rental and relocation assistance. Directs the Secretary to: (1) provide PHAs with the necessary financial assistance to carry out such ownership program; and (2) report annually to the Congress. States that after September 30, 1987, the Secretary shall reserve public housing funds only if: (1) funds are needed to complete units whose funding is already obligated; (2) at least 85 percent of the units meet, or will meet, HUD standards; (3) development is needed to replace disposed units or to comply with court orders or the Secretary's directions; or (4) the locality has demand for family housing that the PHA plans to meet with the development of not more than 100 units. Permits up to 20 percent of public housing development funds to be used for redesign or reconstruction of existing projects. Sets forth the findings of the Congress regarding the problems of substandard public housing and the need to reform the comprehensive grant program in order to provide stable assistance and capital and managerial improvements. Directs the Secretary, within one year of enactment of this Act, to: (1) complete the HUD public housing modernization study, and any other related studies; and (2) submit to the Congress specified funding allocation determinations. Revises the definition of "disability" under such Act. Subtitle B: Other Housing Assistance Programs - Prohibits subsidized project owners from discriminating against a certificate or voucher holder solely because of the status of such prospective tenant as the holder of a certificate or voucher. Amends the Housing Act of 1959 to authorize appropriations through FY 1989 for housing for the elderly or the handicapped. Bases interest rates on the most recently issued 30-year Treasury obligations. Requires that at least 15 percent of annual appropriations for such elderly or handicapped housing be allocated for the nonelderly handicapped. Directs the Secretary to establish new and more appropriate housing and related service options for the nonelderly handicapped. Replaces the existing subsidy system with 240-month contract to cover actual costs not covered by project income. Provides for the continued commitment of certain funds for the home ownership program. Amends the Congregate Housing Services Act of 1978 to authorize appropriations for congregate services through FY 1989. Directs the Secretary to contract for a report due to the Congress by September 30, 1989, which will: (1) document the number of elderly persons living in federally assisted housing at risk of institutionalization; (2) compare alternative congregate services delivery systems; and (3) assess the availability of Federal, State, and local financial support. Amends the Housing and Urban Development Act of 1965, with regard to rent supplement projects, to repeal the requirement that HUD furnish a project owner with certain renter information. Requires owners to give housing preference to persons in substandard housing. (Current law requires that such persons be given priority.) Includes among such preferred applicants persons who are paying more than 50 percent of their income for rent. Title III: Rural Housing - Amends the Housing Act of 1949 to extend rural housing insurance and guaranty authority through FY 1989. (Sets forth specified limits on such authority for FY 1988 and 1989.) Authorizes FY 1988 and 1989 appropriations for: (1) rehabilitation grants; (2) structural rehabilitation; (3) the meeting of obligations issued under the rural housing insurance fund; (4) farm labor housing; (5) self-help housing; (6) housing preservation; and (7) administrative costs. Authorizes the Secretary, as approved in FY 1988 and 1989 appropriations, to enter into rental assistance payment contracts. Extends the 10,000-20,000 population rural area classification date to September 30, 1989. Requires the Department of Agriculture to make or insure loans for rural manufactured homes for the same time period applicable under section 2 of the National Housing Act. Defines "very-low income families or persons" for rural housing loan purposes to mean those families or persons with incomes less than the appropriate levels established under the United States Housing Act of 1937, or those families and persons with incomes that do not exceed 50 percent of the median income for all nonmetropolitan areas in the State. Permits public and private tax-exempt nonprofit sponsors to treat loan packaging costs as eligible development costs. Directs the Secretary to develop tax and insurance escrow procedures for assisted homebuyers. Title IV: Fair Housing Demonstration - Authorizes the Secretary to make grants or enter into contracts through FY 1989 with State or local governments or private or public entities to formulate and carry out programs to prevent or eliminate discriminatory housing practices. Directs the Secretary to: (1) notify the appropriate congressional committees before entering into a grant or contract agreement; (2) submit a quarterly program summary to such committees; (3) issue implementing regulations; and (4) establish private enforcement guidelines. Authorizes FY 1988 and 1989 appropriations. Title V: Nehemiah Housing Opportunity Grants - Authorizes the Secretary to make grants to nonprofit organizations for noninterest bearing second mortgages for new or rehabilitated homes. Sets maximum loans at $15,000. Requires at least a ten percent downpayment. Prohibits leasing. Makes such loans repayable to the Secretary upon the sale, lease, or transfer of the property. Requires an eligible family to: (1) have an income not in excess of the greater of 115 percent of the local metropolitan median income for a family of four, or the national median income for a family of four; and (2) not have owned a home within three years. Sets forth criteria for: (1) grant selection; and (2) assistance conditions. Establishes in the Treasury the Nehemiah Housing Opportunity Fund. Requires an annual report to the Congress. Authorizes FY 1988 and 1989 appropriations.

Resolution· SRESS.Res. 174 (100th)referred

A resolution expressing the sense of the Senate condemning the Soviet-Cuban build-up in Angola and the severe human rights violations of the Marxist regime in Angola.

United States · United States Congress · 24 March 1987

Expresses the sense of the Senate that the United States, so long as Soviet and Cuban military forces occupy Angola, should encourage peace and national reconciliation in Angola through a negotiated settlement to the military conflict and stress the holding of free elections as outlined in the 1975 Alvor Agreement through: (1) support for Soviet and Cuban withdrawal and a negotiated peaceful settlement; and (2) consistent efforts by the President and the Secretary of State to convey to the Soviets that their continued presence in Angola hinders future U.S.-Soviet relations. Requests the President to use his authorities under the Export Administration Act to block U.S. business transactions which conflict with U.S. security interests in Angola. Expresses the sense of the Senate that the Secretary of State should: (1) review U.S. policy with respect to the U.S. refusal to recognize the Marxist Popular Movement for the Liberation of Angola (MPLA), the human rights record of the MPLA, and the worst 1985 voting record supporting U.S. interests in the United Nations; and (2) transmit to the Congress a report on the U.S. policy review, together with a determination on the current U.S. trade and business policy with respect to Angola.

Bill· SS. 790 (100th)open

Competitive Equality Banking Act of 1987

United States · United States Congress · 19 March 1987

Competitive Equality Banking Act of 1987 - Title I: Financial Institutions Competitive Equality - Amends the Bank Holding Company Act of 1956 to revise the definition of "bank" to include any bank whose deposits are insured by the Federal Deposit Insurance Corporation (FDIC) and any institution that: (1) accepts demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties; and (2) engages in the business of making commercial loans. Excludes from the definition: (1) a foreign bank solely by virtue of its having an insured or uninsured branch in the United States; (2) an insured thrift institution; (3) an organization that does not do business in the United States except as incident to its activities outside the United States; (4) certain institutions that function solely in a trust or fiduciary capacity; (5) a credit union; (6) any institution which engages only in credit card operations; (7) an Edge Act or Agreement corporation; and (8) an industrial loan company. Provides that credit card banks, trust companies, Edge Act and Agreement corporations and industrial loan companies shall be subject to: (1) the Federal Reserve Act's limitations on loans by a member bank to officers, directors, and principal shareholders of the bank or its parent; and (2) the anti-tying provisions of the Bank Holding Company Act Amendments of 1970. Grandfathers companies that controlled such entities that become "banks" under the definition of this Act (nonbank banks) as of March 5, 1987, in order that such companies shall not be limited by provisions of the Bank Holding Company Act, provided that the parent company does not: (1) obtain control of an additional bank or thrift institution; or (2) acquire more than five percent of the shares or assets of such a bank or thrift institution. Specifies that until the Congress has enacted proposals concerning all banks and bank holding companies, a bank may not: (1) engage in any activity in which it was not lawfully engaged as of March 5, 1987; (2) engage in any joint marketing with an affiliate in which it was not engaged as of March 5, 1987; (3) permit any overdraft on behalf of an affiliate, or overdraw its own account at a Federal Reserve Bank on behalf of an affiliate; or (4) increase its assets at an annual rate of more than seven percent. Prohibits an institution which becomes a bank under the revised definition of this Act and is controlled by a bank holding company from: (1) engaging in activities that would have made it a bank under prior definitions of "bank"; or (2) increasing the number of locations from which it conducts business after March 5, 1987. Allows State-chartered FDIC-insured savings banks that are owned by a bank holding company to engage in nonbanking activity which is authorized by State law. Requires that such activity be terminated within two years if the savings bank is acquired by a company which does not qualify as a savings bank holding company. Defines a "savings bank holding company" as any company which owns or controls one or more State-chartered savings banks if the assets of the subsidiary (which were chartered by a State on or before October 15, 1982) constitute at least 70 percent of the total assets of the holding company. Revises the definition of "thrift institution" to include any State-chartered savings bank whose holding company is registered as a savings and loan holding company under the Savings and Loan Holding Company Act. Exempts from the Bank Holding Company Act any company which owns or controls any State-chartered bank or trust company which is wholly owned by thrift institutions or savings banks and which restricts itself to performing certain limited services for thrift institutions. Amends the Federal Reserve Act to limit the type of transactions a member bank and its subsidiaries may engage in with an affiliate to those which are under substantially the same terms and conditions as those prevailing at the time for comparable transactions with nonaffiliated companies. Makes such limitation applicable to FDIC-insured nonmember banks. Provides that any company, other than a bank, which directly or indirectly acquires an Edge Act or Agreement corporation after March 5, 1987, should be considered a bank holding company for all purposes of the Bank Holding Company Act except for those provisions relating to the acquisition of additional banks. Amends the Federal Deposit Insurance Act to apply to FDIC-insured nonmember banks for one year the restrictions relating to affiliations between member banks and organizations engaged principally in certain securities activities and to employee relationships involving a member bank and a person or organization primarily engaged in certain securities activities. Amends the National Housing Act to revise the definition of "bank" and "bank holding company" to have the same meaning as in the Bank Holding Company Act. Provides that no savings and loan holding company which is not an insured institution may commence, or continue for more than two years after the date it becomes a holding company, any activity other than those presently permissible for a multiple savings and loan holding company with certain exceptions. Exempts from such restrictions unitary savings and loan holding companies whose subsidiary thrifts meet a qualified thrift lender test (thrifts which devote at least 60 percent of their assets to housing and related activities). Grandfathers unitary savings and loan holding companies formed before March 5, 1987, provided certain conditions are met. Provides that prohibitions on inter-affiliate transactions currently applicable to savings and loan holding companies shall not apply to transactions between a subsidiary thrift institution and affiliates engaged in activities permissible for a bank holding company under the Bank Holding Company Act. Provides that such transactions shall be subject to the restrictions of the Federal Reserve Act. Prohibits diversified savings and loan holding companies and their subsidiary thrift institutions from engaging in joint marketing activities. Provides that a State-chartered insured institution that is a subsidiary of a savings and loan holding company shall be subject to the anti-tying restrictions of the Home Owner's Loan Act of 1933 to the same extent and in the same manner as a Federal association. Establishes a procedure under which companies that own only State-chartered savings banks, which are normally treated as "banks" under the Bank Holding Company Act, may be regulated as savings and loan holding companies rather than as bank holding companies under the Bank Holding Company Act. Amends the Federal Home Loan Bank Act to provide that no member institution of a Federal Home Loan Bank shall be eligible for advances from that bank unless the member meets the qualified thrift lender test. Amends the National Housing Act to provide that provisions of the Banking Act of 1933 relating to affiliations between member banks and organizations engaged principally in certain securities activities and relating to certain officer, director, or employee relationships involving a member bank and a person or organization primarily engaged in certain securities activities shall be applicable to every insured institution in the same manner and to the extent as if such insured institution were a member bank. Allows a thrift institution operating in mutual form to reorganize into a holding company by: (1) forming an interim stock savings bank to be wholly owned by the mutual institution; and (2) transferring its assets and liabilities to the interim bank. Specifies that the institution seeking to reorganize in such manner must provide the Federal Home Loan Bank Board 60 days prior written notice. Deems such an application to be approved unless the Bank Board disapproves it within the 60-day period. Amends the Bank Holding Company Act of 1956 to allow an FDIC-insured savings bank operating in mutual form to reorganize so as to form a holding company under the same procedures. Provides that a corporation organized as such a holding company shall be regulated on the same terms and be subject to the same limitations as a stock savings bank holding company (as specified under this Act). Authorizes national banks to invest in property for lease financing transactions on a net lease basis, provided that such investment may not exceed ten percent of the assets of the association. Title II: Moratorium on Certain Nonbanking Activities - Imposes a moratorium, beginning March 6, 1987, and continuing through one year after the date of the enactment of this Act, on: (1) the approval of the acquisition by any bank holding company or by an insured bank of any entity engaged in the flotation, underwriting, public sale, or distribution of securities; (2) the issuance of any rule, regulation, or order that would have the effect of increasing the insurance powers of banks, bank holding companies, or their subsidiaries; (3) the approval of the acquisition by a bank holding company of any company, including a State-chartered bank, unless the bank holding company has agreed to limit the insurance activities of that company; (4) expansion by a national bank of its insurance activities into places where it was not conducting such activities as of March 5, 1987; and (5) the issuance of any rule, regulation, or order that would have the effect of increasing real estate powers of banks or bank holding companies or their banking or nonbanking subsidiaries. Title III: Recapitalization of FSLIC - Federal Savings and Loan Insurance Corporation Recapitalization Act of 1987 - Amends the Federal Home Loan Bank Act to direct the Federal Home Loan Bank Board (Board) to charter a corporation to be known as the Financing Corporation. Sets forth provisions concerning the membership, administration, and powers of such corporation. Requires each Federal Home Loan Bank to invest in the nonvoting capital stock of the Financing Corporation at such times and in such amounts as the Board may prescribe. Limits the aggregate amount of funds invested by all Federal Home Loan Banks in such capital stock. Limits the amount of funds which such Federal Home Loan Bank shall invest based on the reserves and profits of each Bank. Requires a pro rata distribution among all Federal Home Loan Banks of the amount such Banks are required to invest in the Financing Corporation. Limits the amount of obligations of the Financing Corporation which may be outstanding at any time. Requires that the net proceeds of any obligations issued by the Financing Corporation shall be invested in the capital certificates or capital stock issued by the Federal Savings and Loan Corporation (FSLIC). Grants tax exempt status to any obligations issued by the Financing Corporation. Authorizes the Financing Corporation to assess, with the approval of the Board, on each insured institution an assessment for each semiannual period equal to one-half of an amount not to exceed one-twelfth of one percent of the aggregate amount of all accounts of insured members of such insured institution for the year in which such semiannual period occurs. Authorizes supplemental assessments with the approval of the Board. Specifies that the total amount of assessments may not exceed interest and financing costs. Limits the use and disposition of assets of the Financing Corporation not invested in the FSLIC. Requires the Financing Corporation to invest in and hold in a segregated account a specified amount of zero coupon instruments to assure the repayment of principal on obligations of the Financing Corporation. Establishes a Federal Savings and Loan Insurance Corporation Industry Advisory Committee. Sets forth provisions concerning the membership, administration, and powers of such Advisory Committee. Requires the Advisory Council to: (1) review quarterly reports and budgets of the FSLIC; and (2) report annually to specified committees of the Congress concerning any reports and recommendations made by the Committee to the Board and the FSLIC during the year. Exempts such Committee from the requirements of the Federal Advisory Committee Act. Terminates the Financing Corporation and the Advisory Committee as soon as practicable after the earlier of: (1) the date by which all stock purchased by the Financing Corporation in the FSLIC has been retired; or (2) December 31, 2026. Provides that the Financing Corporation shall be deemed to be a "mixed ownership" Government corporation for purposes of the Government Corporations Control Act. Amends the National Housing Act to authorize the issuance and sale of capital certificates and stock by the FSLIC to the Financing Corporation. Provides that the Financing Corporation shall be the sole purchaser of both capital certificates and the capital stock issued by the FSLIC and that the proceeds from such purchase shall be included as part of the primary reserve of the FSLIC. Prohibits the FSLIC from paying any dividends to the Financing Corporation on the capital certificates and stock. Requires the FSLIC to establish an equity return account to be funded by contributions by the FSLIC according to a specified formula based on FSLIC reserves. Requires the Financing Corporation: (1) to transfer earnings on any investment of amounts in such equity account to its primary reserve account; and (2) upon maturity of its obligations, to pay off and retire any capital stock using only amounts accumulated in such equity return account. Reduces the amount of premiums that may be imposed on insured institutions by the FSLIC by an amount equal to assessments imposed by the Financing Corporation. Amends the Federal Home Loan Bank Act to allow the Board to authorize a Federal Home Loan Bank to declare and pay dividends out of its undivided profits or legal reserves if: (1) the Bank incurs a loss in connection with Financing Corporation stock and has reduced all other reserves to zero; and (2) there is an extraordinary need for member institutions of the bank to receive dividends. Limits the amounts of special premiums the FSLIC may assess in 1987 through 1991 unless severe pressures exist. Provides that any security interest granted to a Federal Home Loan Bank by any member of any Federal Home Loan Bank or any affiliate of any such member shall be entitled to priority over the claims of any party other than parties which have obtained a perfected security interest. Revises FSLIC report requirements to require the FSLIC to prepare quarterly reports and budgets and to submit semiannual reports and budgets to specified committees of the Congress. Requires the FSLIC to prescribe uniform accounting standards consistent with generally accepted accounting principles to be used by all insured institutions for the purpose of determining compliance with any rule or regulation issued by the FSLIC or the Federal Home Loan Bank Board to the same degree such standards are used to determine compliance with the rules and regulations of the Federal Reserve Board, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation. Specifies that such standards shall become effective on December 31, 1987, with respect to each insured institution, except an insured institution that files a plan acceptable to the Corporation for achieving compliance at the earliest feasible date but in no event later than December 31, 1993. Authorizes the General Accounting Office to audit the Federal Asset Disposition Association. Requires the Board to: (1) prepare and transmit to the Congress guidelines for dealing with troubled thrift institutions in a manner which will maximize the long term viability of the thrift industry at the lowest cost to the FSLIC; and (2) transmit to the Congress, by January 31, 1989, an evaluation of the effectiveness of such guidelines. Specifies the types of programs to be addressed in such guidelines. Prohibits the FSLIC or the Board from directing or requiring an insured institution or an association to establish reserves against, or write down the value of, any asset in an amount in excess of the amount that would result from an evaluation of the asset consistent with generally accepted accounting principles, as established by the Financial Accounting Standards Board. Requires the Federal Home Loan Bank Board to transmit a report to the Congress containing a detailed description of steps that the Board has taken and will take administratively, and of any legislation necessary, to prevent additional insolvencies of thrift institutions. Title IV: Emergency Acquisitions - Financial Institutions Emergency Acquisitions Amendments of 1987 - Amends the Garn-St Germain Depository Institutions Act of 1982 to reinstate provisions of the Deposit Insurance Flexibility Act which expired October 13, 1986, and extends such provisions until March 1, 1990. Amends the Federal Deposit Insurance Act to revise provisions governing interstate acquisitions of troubled banks involving Federal Deposit Insurance Corporation (FDIC) financial assistance. Authorizes an out-of-State bank or holding company to: (1) acquire a bank with total assets of $500,000,000 or more that is in danger of closing as certified by the appropriate Federal or State chartered authority; (2) acquire a holding company that controls insured bank subsidiaries which hold assets equal to at least $500,000,000, represent a third or more of the total assets of all bank subsidaries of such holding company, and are in danger of closing; (3) acquire such subsidiaries and affiliated banks; or (4) establish newly chartered banks in the State where such subsidiaries are chartered to merge with or purchase the assets and assume the liabilities of such subsidiaries and affiliated banks. Permits the FDIC to assist a merger or acquisition of an insured bank only at the request of the bank's directors or trustees. Provides that a bank which receives FDIC troubled bank assistance when it is eligible to be acquired by an out-of-State bank or holding company shall remain eligible for such acquisition so long as such assistance remains outstanding, with FDIC approval. Permits an out-of-State bank to make such an extraordinary acquisition under the Federal Deposit Insurance Act only if such ownership is otherwise specifically authorized. Provides that an out-of-State bank holding company which makes such an acquisition shall, two years after such acquisition (unless a shorter period is prescribed by State law), have the same rights to make additional acquisitions and to establish branches as an in-State bank holding company. Prohibits any holding company which makes such an acquisition from being required under State law to divest any other bank or from being prevented from acquiring any other bank or holding company by reason of such acquisition. Restructures priorities for FDIC authorization of such extraordinary acquisitions to be, in descending order, transactions between: (1) minority-controlled banks; (2) depository institutions of the same type within the same State; (3) institutions of the same type in different States which have reciprocal arrangements authorizing such acquisitions or, if no such arrangements exist, which are contiguous; (4) institutions of the same type in other different States; (5) different types of institutions in the same State; (6) different types of institutions in different States which have reciprocal arrangements authorizing such acquisitions or, if no such arrangements exist, which are contiguous; and (7) different types of institutions in other different States. Permits the FDIC to assist in the interstate acquisition of an open or closed bank where such acquisition is authorized under applicable State law. Prohibits the FDIC from providing acquisition assistance to a holding company subsidiary that is not an insured bank. Requires the FDIC to include in its annual report to the Congress a report describing extraordinary acquisitions during the preceding year and identifying the number of FDIC-assisted acquisitions. Amends the Bank Holding Company Act of 1956 to: (1) authorize the Federal Reserve Board to dispense with notice and hearing requirements for the acquisition by a bank holding company of a bank in danger of closing; (2) require the Board to publish in the Federal Register the order approving the acquisition and identifying any nonbanking activities involved in the acquisition; and (3) authorize the Board to reduce the post-approval waiting period to five days or eliminate such period with the concurrence of the Attorney General if the Board finds that immediate action is necessary to prevent the probable failure of a bank in danger of closing as certified by the appropriate Federal or State chartering authority. Authorizes the FDIC to organize a bridge bank to assume the deposits of, assume the liabilities of, purchase the assets of, and temporarily perform the functions of one or more closed insured banks if the FDIC Board of Directors determines that: (1) the amount necessary to operate the bridge bank will not exceed the cost of liquidating the closed banks; (2) continued operation of the insured banks is essential to the community; or (3) continued operation of the insured banks is in the interest of the depositors of the closed banks and the public. Provides that the bridge bank shall be a national bank, shall have all corporate powers of a national bank, with specified conditions, and shall be insured from the time of its organization. Requires the FDIC, at the direction of its Board of Directors, to: (1) make available sufficient funds for the bridge bank to operate; and (2) cause capital stock to be offered for sale in an amount sufficient to make possible the conduct of business of the bridge bank on a sound basis. Provides for the acquisition of the bridge bank by an out-of-State bank or holding company or by an insured depository institution located in the State where the closed bank was chartered but established by an out-of-State bank or holding company. Directs the FDIC to wind up the affairs of the bridge bank by voluntary dissolution or by the appointment of a receiver, unless the capital stock of the bridge bank is sold or its assets are taken over and its deposits assumed by another insured bank within two years from the date of its organization. Authorizes the FDIC, in order to facilitate the sale or merger of the bridge bank with another insured depository institution, to: (1) make loans or contributions to, make deposits in, purchase assets or securities of, or assume the liabilities of, such bank or the acquiring company; or (2) guarantee the bridge bank or the acquiring company against loss by reason of such sale or merger. Amends the National Housing Act to provide that when an FDIC-insured bank converts into an institution that is eligible for FSLIC insurance and applies for such insurance, such bank's FDIC insurance shall terminate automatically when the FSLIC insurance goes into effect. Exempts assessments and other income received by the FDIC, the FSLIC, the Federal Home Loan Bank Board, the Comptroller of the Currency, and the National Credit Union Administration from sequestration pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) and apportionment pursuant to the Anti-Deficiency Act. Title V: Credit Union Amendments - Amends the Garn-St Germain Depository Institutions Act of 1982 to eliminate the sunset provisions from the National Credit Union Administration's (NCUA) conservatorship and emergency merger authority. Amends the Federal Credit Union Act to authorize the NCUA to allow second mortgage and home improvement loans for terms longer than 15 years. Specifies that funds in shares, share certificates, and share draft accounts constitute a member's ownership interest in a credit union. Revises faithful performance bond requirements for credit union employees. Provides that membership officers may be selected from a credit union's membership (currently restricted to the board of directors). Revises provisions concerning the authority of a credit union to expel a member due to nonparticipation. Allows the NCUA to lease or purchase real or personal property without regard to other laws applicable to independent or executive agencies. Treats all funds of the NCUA as trust funds for purposes of the Balanced Budget and Emergency Deficit Control Act of 1985. Specifies that the NCUA's prohibition authority extends to both employees and agents of Federally-insured credit unions. Provides that if a person is removed, suspended, or prohibited from participating in the conduct of the affairs of an insured credit union, that person shall also be removed, suspended, or prohibited from participating in the affairs of all Federally-insured depository institutions, all bank holding companies, and all institutions chartered by the Farm Credit Administration. Authorizes the NCUA to impose a conservatorship when there is a willful violation of a cease-and-desist order which has become final or when there is a concealment of or refusal to submit documents or other records of a credit union to an NCUA examiner or to any lawful agent of the Board. Reduces from 90 days to 30 days the period the NCUA must allow State regulators to respond to the NCUA's proposed imposition of conservatorship in the case of a State-chartered, NCUA-insured institution. Specifies that a conservator shall have all the powers of the members, the directors, the officers, and the committees of a credit union and shall be authorized to operate a credit union in its own name or to conserve its assets in the manner and to the extent authorized by the NCUA. Allows an insured credit union which has been closed for liquidation to apply to a United States District Court within ten days of such closure for an order requiring the NCUA Board to show cause why it should not be prohibited from continuing such liquidation. Provides that the NCUA's liquidation powers shall not be subject to court regulation. Title VI: Deposit Availability - Fair Deposit Availability Act of 1987 - Sets forth depository institution disclosure requirements concerning: (1) the availability for withdrawal of funds deposited by check or similar instrument into a deposit account used primarily for personal, family, or household purposes; and (2) the computation of interest on deposited funds pending the receipt of provisional credit for the check or instrument. Requires the computation of interest on such deposited funds to begin no later than the date the institution receives provisional credit, unless the computation of interest begins at a later date for all deposits, including cash deposits, made to the account. Requires the Federal Reserve Board to promulgate interim regulations to expedite customer access to funds deposited by check or similar instrument into deposit accounts by expediting the process for returning all categories of unpaid items or other means. Specifies that such regulations shall provide that no more than six business days shall elapse between the day of deposit and the day of availability for funds deposited by check or similar instrument into deposit accounts at depository institutions. Allows limited exceptions to such time requirements. Requires the Federal Reserve Board to promulgate regulations, to become effective within 36 months after enactment of this Act, which will expedite customer access to funds deposited by check either by: (1) improving the check clearing system by expediting the process for returning unpaid items in order to ensure that receiving depository institutions can expect to learn of the nonpayment of any item and provide for the availability of funds deposited by check within four business days after such deposit, with specified exceptions; or (2) limiting the length of time during which funds deposited by check shall not be available for withdrawal, with certain exceptions, based upon the number of days necessary to provide provisional credit and considering such factors as the type of instrument, type of institution, and geographic location. Sets forth circumstances under which such regulations shall not apply. Permits the Board to suspend the applicability of such regulations to any class of checks if necessary to diminish an unacceptable level of losses due to check-related fraud. Requires depositors to receive notice of when funds will be available for withdrawal whenever exceptions to such regulations are invoked. Requires the Board to promulgate regulations, to become effective within 12 months after enactment of this Act, which require that funds deposited by check shall be available for withdrawal on the date the depository institution receives provisional credit where that check is: (1) endorsed only by the payee; and (2) drawn on the U.S. Treasury or the treasury of any State or local government located in the same State as the receiving depository institution. Sets forth provisions governing the administrative enforcement of this Act and the civil liability of institutions that fail to comply with this Act. Provides that State regulations that require funds deposited at State-chartered institutions to be available for withdrawal in a shorter period of time than required pursuant to this Act shall supersede this Act and shall apply to all federally insured depository institutions located in such State. Requires the Board to conduct a study and submit findings to the Congress on: (1) the effect of changes in fund availability and check clearing made by this Act; (2) the advisability of further changes; (3) an assessment of possible improvements in the check collection system; (4) an assessment of the use of electronics in payments; and (5) the need for improvements in the payments system. Amends the Federal Reserve Act to authorize all depository institutions to receive for deposit any evidences of transaction accounts from other institutions or from any office of any Federal Reserve bank without regard to any Federal or State law restricting the number or the physical location of such institutions.

Bill· SS. 786 (100th)referred

Financial Export Control Act

United States · United States Congress · 19 March 1987

Financial Export Control Act - Amends the Export Administration Act to state congressional findings that loans and other transfers of capital to the Soviet Union and its allies increase the ability of those countries to obtain sensitive goods and technology and to more easily divert funds to purposes inimical to U.S. interests. Declares that it is U.S. policy to use export controls to: (1) restrict the export of capital, the extension of credit, or the transfer of financial resources to destinations or persons abroad in order to promote the national security, including antiterrorism, interests of the United States; and (2) restrict the export of goods and technology where such export will likely support terrorism against U.S. citizens or benefit terrorists or countries supporting international terrorism. Authorizes the President to restrict the export or transfer of goods and technology if such export will likely support terrorism against U.S. citizens or benefit terrorists or countries supporting international terrorism. Provides for negotiations with other countries to obtain their cooperation with such export controls on capital, goods, and technology. Requires export license applications for the export of capital to be submitted to the Secretary of the Treasury, who shall make all determinations with respect to such application. Requires the annual report on the administration of the Export Administration Act of 1979 to include a report on actions taken to carry out export controls on capital. Amends the Federal Deposit Insurance Act to require that any notice of a change in control of an insured bank include the nationality of the person or persons making the acquisition. Sets forth criminal penalties for violation of any change in control requirement. Requires Federal banking agencies to disapprove any proposed acquisition which would result in the ownership or control of an insured bank by a country subject to national security export controls or a national agency, or instrumentality of any such country.

Bill· SS. 780 (100th)referred

A bill to amend the enforcement provisions of the Federal Election Campaign Act of 1971.

United States · United States Congress · 19 March 1987

Amends the Federal Election Campaign Act of 1971 to revise the enforcement provisions. Changes from mandatory to discretionary the requirement for the Federal Election Commission to attempt informally to prevent or correct a violation of this Act. Reduces the period for making such attempt from 90 to 45 days. Makes optional the requirement to make such an attempt for a period of at most 15 days, if the violation occurs during the 45 days prior to an election. Requires the conciliation agreement settling a violation to carry a civil penalty of a specified amount. Requires the Commission to refer a knowing and willful violation to the Attorney General and mandates the civil penalty for such violation. Expedites from 120 days to 60 days the time which an aggrieved party must wait before seeking judicial redress because the Commission dismissed, or failed to reasonably pursue, a complaint filed by such party. Allows the aggrieved party to file an action in any U.S. district court having jurisdiction. Revises the procedure for filing an action in the name of the complainant. Provides that any monetary award under such action be paid to the United States. Provides for a mandatory award of attorney fees and costs to the prevailing party.

Resolution· SRESS.Res. 167 (100th)open

ABM Treaty Interpretation Resolution

United States · United States Congress · 12 March 1987

ABM Treaty Interpretation Resolution - Declares the policy of the Senate with respect to the Constitution and as it applies in interpreting the ABM Treaty between the United States and the Soviet Union. States that the development, testing, or deployment of specified ABM systems is inconsistent with the Treaty and therefore requires an amendment to be agreed to by both countries.

Bill· SS. 708 (100th)open

Tongass Timber Reform Act

United States · United States Congress · 10 March 1987

Tongass Timber Reform Act - Amends the Alaska National Interest Lands Conservation Act to repeal the ongoing appropriations for timber utilization in the Tongass National Forest, Alaska. Repeals the requirement for identifying lands unsuitable for timber production in such forest, and repeals the reporting requirement on the adequacy of timber supply from such forest lands. Requires the biennial report on such Forest to include the impact of timber management on subsistence resources, wildlife, and fisheries habitats.

Bill· SS. 709 (100th)open

Democracy in Chile Act of 1987

United States · United States Congress · 10 March 1987

Democracy in Chile Act of 1987 - Declares that it is U.S. policy to: (1) encourage the peaceful return to democracy in Chile; (2) condemn continued acts of brutality by the Chilean Government as well as the assassination attempt against General Pinochet; (3) call for the adoption of a timetable for the transition to democracy and civilian rule; and (4) support efforts to establish the framework for such transition. Imposes the following sanctions against Chile beginning 30 days after enactment of this Act: (1) U.S. opposition to multilateral development bank loans or other assistance for Chile unless the assistance is directed specifically to programs which serve the basic human needs of the citizens of Chile; (2) denial of benefits to Chile under the Generalized System of Preferences and prohibition of duty-free treatment of imports from Chile; (3) denial of Overseas Private Investment Corporation loan or investment guarantees for Chile; (4) prohibition of imports of copper from Chile; and (5) termination of the United States-Chile air transportation agreement. Provides that such sanctions shall not apply if: (1) the President certifies to the Congress that Chile has made significant progress in complying with internationally recognized human rights and in restoring labor rights, has made significant progress in establishing a free multi-party electoral process, has ended the practice of forced exile and restrictions on the right of Chilean nationals to enter and leave their country, and has taken appropriate steps to investigate the deaths of Rodrigo Rojas de Negri, Orlando Letelier, and Ronni Moffitt; and (2) the Congress, within 30 days of receiving such certification, enacts a joint resolution approving such certification. Provides for expedited congressional consideration of such joint resolution.

Bill· SS. 691 (100th)open

A bill to limit the testing of anti-satellite weapons.

United States · United States Congress · 10 March 1987

Prohibits the obligation or expenditure of Department of Defense funds to carry out a test of the Space Defense System (anti-satellite weapon) against an object in space until the President certifies to the Congress that the Soviet Union has conducted such a test after the date of enactment of this Act. Provides that such prohibition shall be effective from the date of enactment of this Act until October 1, 1988.

Bill· SS. 676 (100th)open

Consumer Rail Equity Act

United States · United States Congress · 6 March 1987

Consumer Rail Equity Act - Reaffirms the intent of the Congress that the Railroad Revitalization and Regulatory Reform Act of 1976 and the Staggers Rail Act of 1980 be implemented in a manner which provides both greater competitive alternatives and adequate railroad revenues. Directs the Interstate Commerce Commission, when determining the existence or absence of effective competition, to consider only transportation competition for movement of the same commodity from the same point of origin to the same destination. States that a presumption of overall effective competition is not established by the fact that a railroad faces effective competition with respect to either a point of destination or a point of origin. Shifts the burden of proof regarding transportation rate reasonableness from the shipper to the rail carrier establishing the challenged rate. Declares that it is Federal policy to encourage and promote competitive transportation rates for domestically produced coal and other commodities in order to increase their competitive position in domestic and export markets. Directs the Commission to establish a rail cost adjustment factor which includes changes in railroad productivity, volume, and output mix. Directs the Commission to recompute and republish the Rail Cost Adjustment Factor according to prescribed guidelines. Provides that certain rail carrier rates shall be reduced to the extent of any subsequent decreases in rail cost adjustment factors. Confirms the Commission's authority to promulgate rates set forth in a specified adjudication. Includes within the standards used to determine railroad revenue adequacy: (1) identification of revenues, expenses, and investment base reasonably related to rail transportation service; (2) straight-line depreciation of assets reasonably related to rail transportation service, minus deferred tax reserves resulting from accelerated depreciation; and (3) actual cost of debt capital and reasonable estimates of the current cost of equity capital. Requires the Commission, when making revenue adequacy determinations, to consider specified indicators of a rail carrier's financial status. Requires the Commission to determine, on an annual basis, which rail carriers are earning adequate or inadequate revenues and to determine for each rail carrier the revenues required to achieve or maintain revenue adequacy. Allows (current law requires) the Commission to exempt persons from application of this Act when: (1) such application is not necessary to implement Federal transportation policy; and (2) the Commission finds there is no market dominance involved in the affected transaction. Mandates that the rates and practices applicable to such exempt persons shall not be considered a matter subject to the jurisdiction of the Commission. Requires any rail carrier providing service under certain line rates to participate in competitive joint rail rates through practicable interchange connections (or publish a competitive proportional rate) if requested to do so by a rail carrier (or shipper or receiver) who has an actual or practicable interchange connection. Directs the Commission, upon petition of any interested party, to require certain terminal facilities owned by a rail carrier in interstate or foreign commerce to be used by another rail carrier if the Commission finds: (1) it is in the public interest to do so; and (2) that the owner of such terminal facility will not suffer substantial impairment of its own business interests. Directs the Commission to require, upon petition by an interested party, that rail carriers enter into reciprocal switching agreements if such an agreement is in the public interest or necessary to provide alternative competitive rail service. Directs the Commission to establish reciprocal switching compensation at a level not to exceed the current percentage of the actual variable costs for such service (unless the carrier demonstrates that a higher level is reasonable and necessary). Revises railroad line abandonment procedures to provide that a rail carrier must wait one year before resubmitting a previously denied abandonment application, unless a substantial change in circumstances can be shown. Requires the Commission to hold hearings in communities affected by a proposed railroad line abandonment if requested to do so by community protestants. Requires the Commission to base its abandonment determination upon financial data regarding the facility proposed to be abandoned rather than upon financial data regarding industry-wide averages. Directs the Commission, when considering any application for a certificate of abandonment or discontinuance, to disregard the impact on traffic volume of any surcharge imposed under specified parts of this Act (unless the surcharge improves the financial performance of the line). Subjects to Commission review any State decision regarding intrastate rates, rules, and practices if a party to such State proceedings petitions for Commission review. Requires the Commission to take action on such petition within 120 days of its receipt. Authorizes the Commission to vacate a State decision found inconsistent with this Act.

Bill· SS. 686 (100th)referred

A bill to amend the Agricultural Act of 1949 to limit the quantity of milk protein products that may be imported into the United States.

United States · United States Congress · 6 March 1987

Amends the Agricultural Act of 1949 to limit annual imports of milk protein products (casein) to 50 percent of the average annual amount imported during the period 1981 through 1985. Directs the Secretary of Agriculture to establish a preferential import licensing system for such products based on the availability of domestic substitutes.

Bill· SS. 642 (100th)referred

Nuclear Waste Policy Act Amendments of 1987

United States · United States Congress · 3 March 1987

Nuclear Waste Policy Act Amendments of 1987 - Amends the Nuclear Waste Policy Act of 1982 to remove the statutory requirements and deadlines for second and subsequent nuclear waste repositories (thus eliminating Department of Energy authority to site such repositories). Removes the volume limitations placed upon first repositories. Directs the Secretary of Energy to revise the repository mission plan to reflect the provisions of this Act and to submit such revisions within six months after enactment of this Act. Prohibits the Secretary from expending funds from the Nuclear Waste Fund for any activity relating to a second or subsequent repository.

Bill· SS. 621 (100th)referred

Nuclear Waste Policy Reform Amendments Act of 1987

United States · United States Congress · 3 March 1987

Nuclear Waste Policy Reform Amendments Act of 1987 - Amends the Nuclear Waste Policy Act of 1982 to prohibit the Secretary of Energy from implementing nuclear waste disposal activities with respect to more than one repository. Declares that any such activities commenced (or decisions made by the Secretary) before the date of enactment of this Act shall be rescinded or terminated. Prohibits the Nuclear Regulatory Commission from authorizing the construction of more than one repository under such Act. Provides that if the Secretary does not meet the January 31, 1998, deadline for high-level radioactive waste disposal then the Secretary must cease all repository activities until: (1) the Nuclear Waste Repository Review Commission (established by this Act) submits a certain report to the Congress; and (2) the Congress specifically authorizes the continuation of such repository activities (thus imposing a moratorium on repository development). Removes the deadlines by which the Secretary and the President must submit candidate site nominations for second repository site characterizations. Prohibits the Secretary from nominating or recommending any crystalline rock site for site characterization for a repository. Removes the volume limitation placed upon a first repository. Establishes the Nuclear Waste Repository Review Commission (if a repository moratorium takes effect) to: (1) review scientific data regarding repository suitability; and (2) compare the use of repositories for radioactive waste disposal with alternative technologies for the permanent isolation of such waste. Requires the Review Commission to report to the Congress by a certain date regarding its activities and recommendations. Authorizes appropriations. Terminates such Commission upon submission of its report. Sets deadlines for draft revisions of the Secretary's mission plan under such Act.

Bill· SS. 616 (100th)reported

Full Credit Card Cost Disclosure Act

United States · United States Congress · 26 February 1987

Full Credit Card Cost Disclosure Act - Amends the Truth in Lending Act to require that all credit and charge card applications and solicitations include information regarding the annual interest rate, finance charge conditions, and other related charges and fees. Requires such information, as prescribed by the Board of Governors of the Federal Reserve System, to be prominently displayed in table form.