United States · United States Congress · 11 April 1991
Elementary School Counseling Demonstration Act - Authorizes appropriations for the Secretary of Education to make demonstration grants to local education agencies to establish effective and innovative elementary school counseling programs that can serve as national models. Directs the Secretary to establish an Office of School Counseling, headed by a Director, in the Department of Education.
United States · United States Congress · 11 April 1991
Amends the Foreign Assistance Act of 1961 to declare that the Congress recognizes that prompt U.S. assistance is desirable to help alleviate suffering in the Baltic republics. Directs the Administrator of the Agency for International Development to: (1) furnish humanitarian assistance for the relief of the Estonian, Latvian, and Lithuanian people; and (2) solicit donations of humanitarian assistance for Estonia, Latvia, and Lithuania and cooperate with private relief agencies attempting to provide such assistance. Authorizes the Commander-in-Chief of the U.S. Transportation Command to provide all necessary airlift and sealift to transport donations of medical supplies to the Baltic peoples. Authorizes appropriations. Urges the President to begin negotiations with the nations surrounding Estonia, Latvia, and Lithuania, including Poland and the U.S.S.R., regarding the importation of humanitarian assistance.
United States · United States Congress · 11 April 1991
Declares that the Arab League should terminate its boycott against Israel and that the President should encourage U.S. allies and trading partners to enact laws prohibiting businesses from complying with such boycott and penalizing businesses that do comply.
United States · United States Congress · 9 April 1991
Amends the Employee Retirement Income Security Act of 1974 (ERISA) to provide that title I (Protection of Employee Benefit Rights) does not preempt any State law which provides for: (1) remedies against insurance company unfair practices in administering an employee benefit plan or in processing claims under such plan; (2) the payment of prevailing wages; or (3) standards or other requirements relating to apprenticeship or other training programs. Directs the Secretary of Labor to: (1) study the effect of ERISA preemption of State laws relating to employee benefit plans; and (2) report study results and recommendations to specified congressional committees.
United States · United States Congress · 9 April 1991
Authorizes the Indian American Forum for Political Education to establish a memorial on Federal land in the District of Columbia or its environs to honor Mahatma Gandhi. Prohibits the United States from paying any expense of establishing the memorial.
United States · United States Congress · 22 March 1991
Veterans Compensation Improvement Act of 1991 - Increases the rates of: (1) veterans' disability compensation; (2) additional compensation for veterans' dependents; (3) the clothing allowance for certain disabled veterans; (4) dependency and indemnity compensation for surviving spouses and children; and (5) supplemental dependency and indemnity compensation for disabled adult children. Requires such increases to be the same percentage as the increase in benefit amounts payable under title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act. Authorizes the Secretary of Veterans Affairs to make consistent adjustments administratively to the rates of disability compensation payable to certain persons who are not in receipt of compensation for service-connected disability or death. Requires the Secretary to publish such increases in the Federal Register at the same time that OASDI benefit increases are required to be published.
United States · United States Congress · 22 March 1991
Expresses the sense of the Congress that the United States and the Soviet Union should lead an effort to promptly repeal United Nations General Assembly Resolution 3379 (equating Zionism with racism.)
United States · United States Congress · 21 March 1991
Church Retirement Benefits Simplification Act of 1991 - Amends the Internal Revenue Code to recodify and revise qualifications for church retirement and pension plans. Makes employee contributions to such plans nonforfeitable. Allows ten-year vesting with a nonforfeitable right to 100 percent of accrued benefits derived from employer contributions. Allows five-to-15 year vesting with a nonforfeitable right to a percentage (25% to 100%) of such accrued benefits. Requires the plan to meet minimum vesting requirements. Provides that no employee shall be considered an officer, shareholder, supervisor, or highly compensated employee if such employee receives less than $50,000 per year. Excludes from such consideration employees covered by a collective bargaining agreement if retirement benefits were a subject of good faith bargaining. Recodifies the authority of a church or a convention or association of churches to be treated as an employer making contributions to retirement income accounts. Subjects church-related hospitals and universities to certain coverage and related rules in the case of a contract purchased by a church. Requires distributions from retirement income accounts provided by churches to be in accordance with distributions under cash or deferred arrangements. Provides for determining the beginning date for such distributions. Allows self-employed ministers and chaplains who work for non-church employers to participate in their church plans. Provides that certain rules aggregating employees do not apply to churches. Restores qualified voluntary employee contributions to church plans. Treats self-employed ministers as employees for purposes of certain welfare benefit plans and retirement income accounts. Allows a deduction for contributions to retirement income accounts by such ministers. Provides that a church plan maintained by more than one employer shall not be treated as a single plan. Provides that accounting methods of deferred compensation plans of State and local governments and tax-exempt organizations do not apply to a church plan. Exempts a church plan from the requirement to maintain separate accounts for medical benefits for key employees. Provides that the special rules for computing employee contributions to pension plans do not apply to certain foreign missionaries. Repeals the elective deferral catch-up limitation for church retirement income accounts. Allows church plans to annuitize benefits and increase benefit payments. Provides that rules for self-insured medical reimbursement plans are not applicable to church plans.
United States · United States Congress · 21 March 1991
Urban Schools of America (USA) Act of 1991 - Title I: Urban School Improvement - Authorizes appropriations for this title. Directs the Secretary of Education (the Secretary) to reserve five percent of specified funds for competitive grant awards to exemplary school programs. Directs the Secretary to allot, from remaining amounts, to each eligible local educational agency (LEA) with an approved application an amount based on that LEA's relative allocation under certain provisions of the Elementary and Secondary Education Act of 1965 for education of disadvantaged children (ESEA title I chapter 1). Provides for annual payments to eligible LEAs with approved applications if they comply with certain data collection requirements to monitor progress toward meeting national education goals, and demonstrate such progress. Requires each such LEA to reserve up to five percent of its allotment to make as many grants as practicable, for authorized activities, to community-based organizations or nonprofit partnerships between the LEA and a city-wide collaborative of private sector businesses. Sets limits on the time and the amount of funds to be used for planning purposes. Requires LEAs to use funds under this title to meet national education goals through programs designed to: (1) increase the academic achievement of urban school children to at least the national average; (2) prepare all urban children for school; (3) increase the graduation rates of urban students to at least the national average; (4) prepare urban school graduates to enter higher education, pursue careers, and exercise their responsibilities as citizens; (5) recruit and retain qualified teachers; and (6) decrease the use of drugs and alcohol by urban students, and enhance their physical and emotional health. Sets forth program accountability requirements: (1) in general, for initial grants, renewal grants, and renewal of school participation; (2) for achievement, including demonstration of improvement; and (3) for data collection to monitor progress in achieving national education goals. Authorizes the Secretary to make, from reserved funds, competitive incentive awards to individual schools participating in projects assisted under this title that demonstrate exemplary progress in meeting specified program requirements. Directs the Secretary, by January 1, 1993, to report on the impact of Federal regulations, guidelines, and policies on urban public schools. Requires LEAs desiring to receive an allotment under this Act to establish a local advisory group to: (1) advise on design and conduct of a needs assessment for participating schools; (2) assist in planning for community-wide collaboration in service delivery for youths in participating schools; (3) advise the LEA and the community on how they can work together to use multiple service providers; and (4) advise and assist program implementation and review program evaluation; (5) review and approve community-based organizations' applications; (6) advise on strategies for increasing parental involvement and the number of school volunteers and role models; and (7) review community-based programs' progress or national education goals. Allows use of a comparable existing local advisory group to comply with such requirement. Sets forth special rules relating to ranking of schools to determine relative need, in general, on the basis of achievement, poverty, and racial isolation. Requires each LEA receiving a grant to serve between ten and 20 percent of its schools. Requires eligible LEAs to have flexibility to serve homeless children, desegregating students, immigrants, migrants, or other highly mobile populations, within the program assisted under this title. Deems any approved program for any school served under certain ESEA title I chapter 1 provisions to be sufficient to meet the application and program accountability requirements of this title. Title II: School Building Repair and Renovation - Authorizes appropriations to assist eligible LEAs in repairing and renovating instructional facilities in city schools. Directs the Secretary to reserve one percent of such funds for monitoring activities under this title. Directs the Secretary to allot the remainder to eligible LEAs, which shall use half of such allotment for programs for school building repair and renovation, and half for programs for school environmental concerns and safety improvements. (Authorizes the Secretary to waive such 50 percent division in certain cases.) Directs the Secretary to allocate such funds on the basis of the number of: (1) children from families below the poverty line; (2) school buildings used for instructional purposes; and (3) school buildings more than 25 years old used for instructional purposes. Limits the period covered by a grant application to three years, and requires annual review by the Secretary. Lists types of programs eligible LEAs must conduct with their allotments for: (1) repair and renovation of school buildings; and (2) improvements related to environmental concerns and safety. Title III: Urban School Research - Authorizes appropriations, to carry out this title, for the National Institute for Urban Education (the Institute), established in the Department of Education by this title. Amends the Department of Education Organization Act to create an Assistant Secretary for Urban Education (the Assistant Secretary), who is to establish the Institute in the Department. Directs the Assistant Secretary to: (1) reserve 20 percent of funds for this title for operation of the Institute; and (2) from the remainder of such funds, make allotments to eligible LEAs on the basis of numbers of students. Directs the Institute to: (1) evaluate and disseminate results of activities under title I; (2) conduct research in urban education; (3) serve as a clearinghouse on urban education research findings, policies, and practices; (4) assist LEAs in developing research and evaluation to assess progress toward meeting national education goals; (5) provide training in research and evaluation; (6) design a research and evaluation strategy for assessing progress under this Act; and (7) design and test both common indicators and new multiple-measures of progress toward national education goals. Provides for an Institute Governing Board. Allows LEAs to use funds under this title for: (1) collaborative and coordinated research and evaluation of educational techniques or approaches in multiple cities served by eligible LEAS; (2) evaluation of projects assisted under title I; (3) dissemination of information on successful projects and approaches under title I; (4) design and implementation of programs for LEA technical assistance to individual schools and teachers involved in title I projects; (5) data and information management services for schools participating in a title I program; (6) staff training in such schools; (7) evaluation of progress in meeting national educational goals by LEAs receiving assistance under this Act; (8) staff training in test interpretation and use for diagnostic purposes; (9) information for parents on test results and interpretation; (10) research and evaluation technology and training; (11) tools for assessment of students in individualized instruction; (12) research on school policies and practices that may be barriers to student success; and (13) new, multiple, alternative assessments of student progress. Title IV: General Provisions - Establishes the Interagency Council on Urban Schools to: (1) review Federal programs to determine effects on urban schools' ability to meet national education goals; (2) track school progress toward such goals; (3) solicit advice and information for urban education experts and urban school representatives on improvement of Federal programs; (4) review Federal regulations for duplication or contradiction; (5) report annually to the Congress and the President on urban school progress; (6) review and recommend improvement or streamlinig of Federal data collection in urban schools; and (7) conduct research to help urban school practitioners improve school performance. Directs the President to conduct a White House Conference on Urban Education before October 30, 1993. Requires the Conference to: (1) develop recommendations and strategies for improving urban education; (2) marshal the forces of the private sector, governmental agencies at all levels, parents, teachers, communities, and education officials to assist urban schools in meeting national goals; and (3) conduct initial planning for a permanent national advisory commission on urban education. Requires a report to the President. Authorizes appropriations for such Conference. Establishes a National Commission on Urban Education (the Commission). Directs the Commission to: (1) study specified issues relating to urban schools; and (2) report, and recommend changes in Federal legislation, to the President and appropriate congressional committees. Terminates the Commission three years after its first meeting. Authorizes appropriations for the Commission. Requires eligible LEAs to use Federal funds received under this Act only to supplement but not supplant non-Federal funds.
United States · United States Congress · 21 March 1991
R & E Permanent Resolution Act of 1991 - Amends the Internal Revenue Code to make permanent the rules on the allocation of research and experimental expenditures. (Currently, such rules expire on August 1, 1991.)
United States · United States Congress · 21 March 1991
Declares that the Senate: (1) extends a warm welcome to His Excellency Lech Walesa, President of the Republic of Poland, upon the occasion of his State Visit to the United States; (2) recalls the historic ties between the people of both countries; (3) applauds his commitment to economic and political reform; (4) reaffirms the Senate's and U.S. people's support for the independence and security of Poland; (5) looks forward to cooperation with Poland on issues relating to security and stability in Europe; and (6) commends the Bush Administration's decision to reduce Poland's debt to the United States, applauds the Paris Club's decision to reduce Poland's foreign debt, and urges Poland's private creditors to do the same.
United States · United States Congress · 20 March 1991
Financial Institutions Safety and Consumer Choice Act of 1991 - Title I: Federal Deposit Insurance Reform - Subtitle A: Federal Deposit Insurance Reform - Amends the Federal Deposit Insurance Act to exclude from the meaning of "insured deposit": (1) any deposits obtained from a deposit broker, with certain exceptions; and (2) any depository institution investment contracts (BICs) with an employee benefit plan. Limits the amount of an insured deposit for any deposit to $100,000 per insured depository institution. Prohibits the Federal Deposit Insurance Corporation (FDIC) from providing insurance coverage on a pro-rata or pass-through basis to an employee benefit plan participant or beneficiary, with specified exceptions. States that certain retirement accounts under which participants and beneficiaries have the right to direct the investment assets held on their behalf by the plan will be insured in an aggregate amount up to $100,000 per participant per insured depository institution. (Terminates separate insurance for each account.) Limits the insurance coverage of trust funds to $100,000 per trust estate held on deposit by a trustee institution under an irrevocable trust. Requires the FDIC to study and report to the Congress on the feasibility of implementing a deposit insurance system based upon systemwide coverage limitations for each depositor. Directs the Board of Governors of the Federal Reserve System (the Board), as part of such feasibility study, to provide the FDIC with the results of a survey of the ownership of deposits held by individuals, including the dollar amount and type of deposit accounts held, and the type of financial institution in which they are held. Prohibits an insured depository institution which does not meet applicable minimum capital requirements, as well as its employees, from soliciting deposits by offering interest rates significantly higher than the prevailing rates offered by other insured depository institutions in such institution's normal market areas. Directs the FDIC to only provide assistance to any insured depository institution in such amounts as are necessary to satisfy its obligations to the institution's insured depositors at the least cost to the affected deposit insurance fund. Directs the FDIC to provide assistance to satisfy, in whole or in part, the institution's liability to its uninsured depositors if that would constitute the least-cost method of resolving the depository institution. States that upon a joint determination by the Board and the Secretary of the Treasury (the Secretary) that the FDIC cannot resolve an insured depository institution without causing a severe adverse impact upon the financial system, they shall direct the FDIC to provide assistance to satisfy such institution's liability to its depositors (or take whatever action is necessary to lessen the risk posed by such institution). Requires the FDIC Board of Directors to establish a risk-based assessment system for insured depository institutions based upon categories of risk. Prohibits an insured State bank from engaging as principal in any activity not permissible for a national bank unless: (1) the FDIC has determined that the activity poses no significant risk to the affected deposit insurance fund; and (2) the State bank is in compliance with federally prescribed capital standards. Prohibits equity investments by State banks which are impermissible for national banks (except for the equity interests in a subsidiary of which the State bank is a majority owner). Prohibits subsidiaries of insured State banks from engaging as principal in any type of activity that is impermissible for the subsidiary of a national bank unless: (1) the FDIC has determined that such activity poses no significant risk to the affected deposit insurance fund; and (2) the bank is in compliance with the minimum federally prescribed capital standards. Prohibits an insured State bank subsidiary from engaging in securities or insurance underwriting except to the extent such activities are permissible for national banks. Amends the Federal Reserve Act to authorize the Board to conduct annual on-site examinations of depository institutions under its jurisdiction (including their affiliates). Mandates that: (1) the appropriate Federal banking agencies and the Securities and Exchange Commission (SEC) jointly develop a supplemental disclosure method by which banks may include in their mandatory financial reports to such agencies the fair market value of assets and liabilities; (2) each insured bank provide to the appropriate Federal banking agency copies of audit reports; and (3) the appropriate Federal banking agencies develop a system to monitor interest rate risk, and adjust risk-based capital standards to reflect interest rate risk. Amends the Federal Credit Union Act to require as part of a credit union's insurance application that the applicant agree to make initial capitalization payments to the National Credit Union Share Insurance Fund according to prescribed guidelines, in addition to an annual insurance premium. Subtitle B: Reinsurance Demonstration Project - Directs the FDIC to establish a reinsurance demonstration project to determine the feasibility of developing a private reinsurance system. Establishes the Reinsurance Demonstration Project Committee to analyze, review, and report to the Congress the results of the reinsurance demonstration project. Title II: Financial Services Modernization - Subtitle A: Financial Services Holding Companies - Amends the Bank Holding Company Act to define financial services holding companies and diversified holding companies. Amends the Bank Holding Company Act of 1956 to specify additional financial entities prohibited from acquiring control or ownership of certain financial services organizations. Prohibits any insured depository institution (except foreign banks with insured branches in the United States) from becoming a financial services holding company or a diversified holding company. Sets forth expedited procedures for acquisition of additional banks by zone one financial services holding companies. Sets forth guidelines for acquisitions involving diversified holding companies. Provides that financial services holding companies (except certain foreign banks) cannot be banks. Modifies the guidelines for ownership interests in nonbanking organizations. Replaces the current "closely related" standard for permissible activities with a "financial nature" standard. Sets forth the permissible parameters for insurance and securities affiliates. Sets a deadline by which a financial services holding company must notify the appropriate Federal banking agency with respect to its ownership or control of the shares of a company engaged in qualified financial activities. Outlines permissible nonbanking activities and acquisitions for zone one financial services holding companies. Sets forth additional capital requirements for a financial services holding company that intends to engage in, or acquire, or retain the shares of a company engaged in a new financial activity. Sets forth certain restrictions on the activities of financial services holding companies. Prescribes guidelines for acquisition activities by diversified holding companies and their affiliates. Sets forth Federal administrative procedures for financial services holding companies and diversified holding companies (including their subsidiaries and affiliates). Prohibits the States from preventing or impeding certain acquisition or affiliation activities undertaken by: (1) insured depository institutions; (2) diversified holding companies; and (3) financial services holding companies. Amends the Bank Holding Company Act Amendments of 1970 to prohibit a financial services holding company or a diversified holding company from: (1) engaging in certain tying arrangements; or (2) transacting insider loans. Amends the Home Owners' Loan Act to exempt from its coverage financial services holding companies and diversified holding companies. Subtitle B: Financial Activities of National Banks - Amends the Banking Act of 1933 to provide that its limitations and restrictions with respect to certain securities activities conducted by a national bank for its own account shall not apply to the distribution of securities issued by investment companies. Amends the Banking Act of 1933 to repeal the proscription against: (1) the affiliation of member banks with organizations engaged principally in securities; and (2) member bank personnel serving simultaneously as employees or officers of securities organizations. Authorizes national banking associations located in certain small-sized population areas to sell insurance to residents of the State in which the association is located. Amends the Federal Reserve Act to: (1) set forth conditions under which a loan or extension of credit by a member bank shall not be deemed to be made to an affiliate; (2) require prior notification to the appropriate Federal banking agency before a financial services holding company may permit an insured depository institution under its control to engage in a covered transaction which exceeds five percent of its capital stock and surplus; and (3) revise definitions related to affiliates of member banks. Amends the Federal Deposit Insurance Act to require customer disclosure by an insured depository institution with respect to the non-insured status of its non-banking products. Subtitle C: Non-Banking Activities of Foreign Banks in the United States - Amends the International Banking Act of 1978 to set forth circumstances under which a foreign bank that maintains a branch or agency in the United States (or owns or controls a commercial lending company organized under State law) shall be subject to the provisions of this Act. Subtitle D: Amendments to the Securities Acts - Amends the Securities Act of 1933 to: (1) subject to its provisions certain bank-issued securities and certain savings association-issued securities; (2) exempt from its provisions certain bank and savings association instruments functioning as securities in a secured transaction; (3) exempt from its provisions equity securities transactions with respect to bank acquisition by a financial services holding company, or acquisition of a financial services holding company by a diversified holding company. Amends the Securities Exchange Act of 1934 to: (1) revise definitions relating to bank broker activities and bank dealer activities; (2) prohibit any bank from acting as broker or dealer except in the course of an exclusively intrastate business; and (3) prohibit certain securities transactions, with specified exceptions, taking place on bank premises which are commonly accessible to the general public for deposit-making purposes. Repeals the Federal agency administration provisions with respect to disclosure requirements for securities issued by insured depository institutions. Amends the Investment Company Act of 1940 to mandate that the custody of investment company assets or unit investment trusts by affiliates of either the registered management company or the registered unit investment trust must be in accordance with Securities and Exchange Commission (SEC) rules prescribed for the protection of investors. Prohibits a registered investment company from having a majority of its board of directors consisting of personnel of any one bank and its subsidiaries, or any one financial services holding company and its affiliates and subsidiaries. Grants the SEC additional rulemaking authority regarding bank-affiliated mutual funds. Prohibits registered investment company securities from being represented as: (1) guaranteed, sponsored, recommended or approved by any Federal agency; (2) insured by the FDIC; or (3) guaranteed or an obligation of any bank or insured institution. Provides that any person issuing or selling securities of an investment company whose name is similar to that of a bank may be required to disclose prominently that the investment company and its securities are neither FDIC-insured, nor guaranteed by an affiliated bank or insured institution, nor otherwise an obligation of such bank or insured institution. Authorizes the SEC to determine by order that use of a name similar to a bank is deceptive and misleading, and to take action accordingly. Amends the Investment Advisers Act of 1940 to include within the meaning of "investment adviser" any bank or financial services holding company which acts an investment adviser to a registered investment company (unless it performs such services through a separately identifiable division). Requires the SEC to give notice to the appropriate Federal banking agency prior to initiating any investigative or enforcement proceedings against a financial services holding company bank, or bank division acting as registered investment adviser. Amends the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Company Act of 1940 to exempt certain bank common trust funds from their coverage. Amends the Internal Revenue Code to provide that the transfer to a regulated investment company of all or substantially all of the assets of a common trust fund shall not result in a gain or loss to the common trust fund participants if the transfer is the result of a merger, conversion, reorganization, transfer or similar transaction. (Thus, if a bank were to transfer a common trust fund to a mutual fund, such transfer per se would not be considered a taxable event for the fund participants.) Directs the SEC to examine and report to the Congress on the appropriate treatment of: (1) bank collective investment funds and separate accounts under the securities laws and the Employee Retirement Income Security Act (ERISA); and (2) common trust funds under the securities laws. Subtitle E: Prompt Corrective Action - Amends the Federal Deposit Insurance Act to set forth: (1) definitional guidelines (including capital zones and critical capital level); and (2) permissible activities for banks within various capital zones (including financial services holding companies). Amends the Federal Deposit Insurance Act, the Bank Conservation Act, the Federal Reserve Act, and the Home Owners' Loan Act to set forth additional grounds for appointing conservators and receivers for specified undercapitalized depository institutions (as defined by their capital zones under this Act). Subtitle F: Nationwide Banking and Branching - Amends the Financial Services Holding Company Act to authorize nationwide banking, notwithstanding certain State laws, by: (1) a diversified holding company; (2) a financial services holding company; or (3) a foreign bank. Amends Federal banking law to permit a national banking association to establish and operate new branches at an initial location within any State in which a financial services holding company or State bank having the same home State (or chartered in the same home State as such association) could establish a branch. Provides for the interstate consolidation or merger of national banks, or State banks with national banks, and for the subsequent retention of pre-existing branches subject to regulatory approval. Amends the Federal Deposit Insurance Act to prohibit State proscription against interstate branching by State banks. Permits a host State to determine compliance by interstate branches with its regulations, and to coordinate regulatory supervision with other State bank authorities regarding branches of State-chartered banks. Amends the International Banking Act of 1978 to provide that during the three-year period starting on the date of enactment of this Act the Director may authorize foreign banks to establish and operate federally-chartered branches in the United States if such establishment is not prohibited by the law of the relevant State. Revises the limitations placed upon interstate branching by foreign banks to more closely conform with the limitations placed upon interstate branching by domestic banks. Amends the Home Owners' Loan Act to authorize approval by the appropriate Federal banking agency for a savings and loan holding company or a foreign bank to acquire interstate interests in savings associations. Permits the consummation of such approved acquisitions even though State law would otherwise prohibit or limit them. Title III: Regulatory Restructuring - Subtitle A: Office of Depository Institution Supervision - Establishes in the Department of the Treasury the Office of Depository Institutions Supervision (the Office) to be headed by a Director to: (1) grant or deny charters or other applications; (2) conduct examinations of banking entities within its purview; (3) appoint conservators or receivers for depository institutions; and (4) render a final decision in a contested administrative enforcement proceeding. Authorizes the Director to impose and collect from entities for which the Director is the appropriate Federal banking agency assessments, fees, and other user charges to meet the full cost of the Federal services provided. Subtitle B: Interim Provisions; Transfer of Functions, Personnel, and Property - Outlines interim administrative functions of the Office prior to the date that the functions of the Comptroller of the Currency and the Office of Thrift Supervision are transferred to it. Abolishes the Office of Thrift Supervision and the Office of the Comptroller of the Currency. Outlines transfer and interim provisions. Subtitle C: Regulatory and Supervisory Responsibility - Transfers to the Office all powers and duties vested in the Director of the Office of Thrift Supervision and the Comptroller of the Currency. Amends the Federal Deposit Insurance Act to designate the institutions for which the appropriate Federal banking agency is either: (1) the Director of the Office of Depository Institutions Supervision; or (2) the Board of Governors of the Federal Reserve System. Sets forth guidelines to determine the appropriate Federal banking agency for foreign banks and multiple bank subsidiaries. Requires the Director to conduct an annual on-site examination of each depository institution and branch of a foreign bank under his or her purview, with specified exceptions. Authorizes the Director to examine a depository institution and its affiliate in order to disclose fully their relationship and its effect upon the depository institution. Provides for civil money penalties for affiliates who refuse to cooperate with authorized examinations. Amends Federal law to set forth circumstances under which the Director may appoint a receiver for a national banking association. Subtitle D: Transfer of Federal Deposit Insurance Corporation Authority - Amends the Federal Deposit Insurance Act to subject financial services holding companies and their subsidiaries to certain of its enforcement proceedings. Repeals the proscription against participation by State nonmember insured banks in lotteries and related activities. Makes conforming amendments to the Federal Reserve Act. Directs the Chairman of the Board of the FDIC and the Chairman of the Board of Governors of the Federal Reserve System to determine jointly which FDIC employees are necessary to FDIC functions transferred to the Federal Reserve System by this Act, and to transfer such employees accordingly. Outlines the employee transfer program. Subtitle E: Litigation Authority - Authorizes the Director, the Board of Governors of the Federal Reserve System, the FDIC and the National Credit Union Administration to conduct litigation, subject to the prior consent and general direction and control of the Attorney General. Subtitle F: Reorganization of Boards of Directors - Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to make conforming amendments to organizational provisions regarding their respective boards of directors. Subtitle G: Savings Provisions for the Transfer of Authority from the Board of Governors of the Federal Reserve System to the Director - Sets forth savings provisions for the transfer of authority from the Board of Governors of the Federal Reserve System to the Director of the Office of Depository Institutions Supervision. Title IV: Bank Insurance Fund Recapitalization - Subtitle A: - Federal Deposit Insurance Corporation Borrowing - Amends the Federal Deposit Insurance Act to authorize the FDIC to borrow funds from any Federal Reserve bank to: (1) maintain or improve the liquidity of BIF; or (2) provide financial assistance with respect to an insured depository institution or its receivership or conservatorship. Sets a ceiling upon FDIC outstanding corporate debt from all Federal Reserve banks at any one time. Amends the Federal Reserve Act to authorize any Federal Reserve bank to make advances to the FDIC upon its request, subject to limitations set by the Board of Governors of the Federal Reserve System. Subtitle B: Federal Deposit Insurance Corporation Assessments - Amends the Federal Deposit Insurance Act to specify the maximum aggregate assessment to be charged semiannually to Bank Insurance Fund members. Grants the FDIC authority to make estimates and projections for the purpose of computing assessment rates and aggregate assessment target amounts. Authorizes the FDIC to pay interest and principal on its outstanding debt to a Federal Reserve bank from the semiannual BIF assessments. Title V: Miscellaneous Provisions - Subtitle A: Payment System Risk Reduction - Outlines the netting procedures to be used by financial institutions engaged in transactions with one another directly or through the auspices of financial institutions' clearing organization. Precludes any judicial or administrative proceeding from delaying or limiting the application of such netting procedures. Subtitle B: Right to Financial Privacy Act Amendments - Amends the Right to Financial Privacy Act of 1978 to permit the transfer of financial records of a financial institution by a Federal agency to the Attorney General for civil actions under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, or for forfeiture under Federal criminal law. Provides that the transferring agency shall not be deemed to have waived any privilege applicable to such records. Subtitle C: Reduction in Regulatory Burden - Amends the Home Mortgage Disclosure Act to repeal the exemption from certain mortgage loan information disclosure requirements granted to depository institutions with $30,000,000 or less in assets. Raises the general disclosure exemption threshold for depository institutions from $10,000,000 to $50,000,000 or less in assets, adjusted annually according to the Consumer Price Index. Requires the Secretary of the Treasury and the head of each appropriate Federal banking agency to review and report to the Congress on all laws and regulations under their jurisdiction to determine whether they: (1) adversely affect the capital position and profitability of insured depository institutions; and (2) impose duplicative paperwork and compliance requirements. Prohibits an appropriate Federal banking agency from requiring any institution under its jurisdiction to prepare or maintain data to comply with the Fair Housing Act, other than the data prescribed pursuant to the Home Mortgage Disclosure Act. Subtitles D: Expedited Funds Availability - Amends the Expedited Funds Availability Act with respect to the frequency of notices when funds will be held beyond statutory schedules to provide that no further notice is required after the required notice has been furnished until one year later or such other time as the exception for which the notice was provided ceases to apply, whichever is earlier. Subtitle E: Final Settlement Payment Procedure - Amends the Federal Deposit Insurance Act to authorize the FDIC as conservator or receiver of an insured insolvent institution to: (1) settle all uninsured and unsecured claims on the receivership with a final settlement payment which shall constitute full payment and disposition of its obligations to the claimants; and (2) undertake any supervisory actions and promulgate regulations necessary to implement its final settlement payment functions. Title VI: Technical and Conforming Amendments - Subtitle A: Severability; Transition References - Sets forth severability and transition provisions. Subtitle B: Technical and Conforming Amendments - Makes technical and conforming amendments to specified Federal Acts. Subtitle C: Repeal of Obsolete Provisions of Law - Repeals specified provisions of Federal law. Subtitle D: Effective Date - Sets forth the effective date of amendments made by this title.
United States · United States Congress · 14 March 1991
Establishes the Senate Select Committee on POW/MIA Affairs to receive, concurrently with other committees of the Senate with jurisdiction, all messages, petitions, memorials, and other matters relating to U.S. personnel unaccounted for from military conflicts.
United States · United States Congress · 13 March 1991
Title I - Product Liability Fairness Act - Declares that this Act governs any product liability action brought against a manufacturer or product seller, on any theory, for harm caused by a product. States that a civil action brought against a manufacturer or product seller for loss or damage to a product itself or commercial loss shall be governed by applicable commercial or contract law. Supersedes any inconsistent State law regarding recovery in such actions. Lists specific laws not superseded, including: (1) defense of sovereign immunity asserted by any State or by the United States; (2) any Federal law (except the Federal Employees Compensation Act and the Longshore and Harbor Workers' Compensation Act); (3) the Foreign Sovereign Immunities Act of 1976; (4) State choice-of-law rules; (5) the right of any court to transfer venue or to apply the law of a foreign nation or to dismiss a claim of a foreign nation or citizen on the ground of inconvenient forum; and (6) any statutory or common law cause of action, including an action to abate a nuisance, that authorizes a State or person to institute an action for civil damages or civil penalties, clean up costs, injunctions, restitution, cost recovery, punitive damages, or any other form of relief from contamination or pollution of the environment or the threat of it. Declares that U.S. district courts shall not have jurisdiction over any civil action under this Act, based on specified provisions of Federal law relating to district court jurisdiction. Declares that, if any provision of this Act would shorten the period during which a manufacturer or seller would otherwise be exposed to liability, the claimant may, notwithstanding that period, bring any civil action under this Act within one year after the effective date of this Act. Title II - Allows any claimant to bring a civil action for damages against a person for harm caused by a product under applicable State law, except to the extent such law is superseded by this title. Sets forth expedited settlement measures, including: (1) an option to include an offer of settlement, for a specific dollar amount, by the plaintiff in the complaint and by the defendant in a responsive pleading; and (2) awarding attorney's fees and costs, in certain circumstances, to the prevailing party if the other party does not accept the settlement offer. Sets forth alternative dispute resolution procedures, including: (1) an option, in lieu of or in addition to a settlement offer, for a claimant or a defendant to offer to proceed under any voluntary alternative dispute resolution procedure established or recognized under the law of the State in which the action is brought or maintained; and (2) awarding of attorney's fees and costs to the offering party if the court determines that a refusal to so proceed was unreasonable or not in good faith. Creates a rebuttable presumption that a refusal to so proceed was unreasonable, or not in good faith, if a verdict is rendered in favor of the offeror. Title III - Allows a person seeking to recover for harm caused by a product to bring a civil action against the manufacturer or seller under applicable State or Federal law, except to the extent such law is superseded by this Act. Establishes a standard of product seller liability for proximate causes of harm, established by a preponderance of the evidence, which fall under the categories of negligence or express warranty. Allows the trier of facts, in a negligence action, to consider the conduct of the seller with respect to: (1) the construction, inspection, or condition of the product; and (2) failure to pass on warnings or instructions from the manufacturer. Deems the seller not liable for failure to provide warnings or instructions unless the claimant establishes that the seller failed to: (1) provide warnings or instructions received while the product was in the seller's possession and control; or (2) make reasonable efforts to provide users with warnings and instructions which it received after the product left its possession and control. Deems a seller not liable except for breach of warranty where there was no opportunity to inspect the product in a manner which would or should, in the exercise of reasonable care, have revealed the aspect which allegedly caused the harm. Declares that the seller shall be treated as the manufacturer and be liable for harm caused by a product as if it were the manufacturer if: (1) the manufacturer is not subject to service of process in any State in which the action might have been brought; or (2) the court determines that the claimant would be unable to enforce a judgment against the manufacturer. Allows punitive damages, if otherwise permitted by applicable law, to be awarded in any civil action under this title to any claimant who establishes by clear and convincing evidence that the harm suffered was the result of conduct manifesting a manufacturer's or product seller's conscious, flagrant indifference to the safety of those persons who might be harmed by a product. Declares that a failure to exercise reasonable care in choosing among alternative product designs, formulations, instructions, or warnings is not of itself such conduct. Prohibits awarding punitive damages in the absence of a compensatory award, subject to exception. Prohibits punitive damages against a manufacturer or seller of a drug or medical device where: (1) the drug or device was subject to pre-market approval by the Food and Drug Administration (FDA); or (2) the drug is generally recognized as safe and effective under conditions established by the FDA. Prohibits punitive damages against a manufacturer of an aircraft where: (1) the aircraft was subject to pre-market certification by the Federal Aviation Administration (FAA); and (2) the manufacturer complied, after delivery, with FAA requirements and obligations with respect to continuing airworthiness. Provides for separate proceedings, if requested by the manufacturer or seller, with regard to punitive damages. Lists factors the trier of fact is allowed to consider in determining the amount of punitive damages. Bars any civil action under this title: (1) unless filed within two years after the claimant discovered or should have discovered the harm and its cause, subject to exception; and (2) if the product involved is a capital good that is alleged to have caused harm which is not a toxic harm unless filed within twenty-five years after delivery of the product, provided the claimant has received or would be eligible for State or Federal workers' compensation. Excludes a motor vehicle, vessel, aircraft, or railroad used primarily to transport passengers for hire from these time limitations. States that nothing in these provisions affects the right of any person who is subject to liability under this Act to obtain contribution or indemnity from any other person who is responsible for the harm. Requires reduction in the damages awarded by the sum of all State or Federal workers' compensation benefits to which the employee is or would be entitled. Requires a claimant in a civil action under this title who is or may be eligible to receive State or Federal workers' compensation to notify the claimant's employer of the civil action. Requires an action to be stayed, at the sole discretion of the claimant, until a final determination is made on the amount payable as workers' compensation benefits. Declares that, unless the manufacturer or seller has expressly agreed to indemnify or hold an employer harmless, neither the employer nor the workers' compensation insurance carrier shall have a right of subrogation, contribution, or implied indemnity against the manufacturer or seller or a lien against the claimant's recovery, except if the claimant's harm was not in any way caused by the fault of the claimant's employer or co-employees. Allows the employer or workers' compensation insurer to intervene in the action to prove that fact. Prohibits a third party tortfeasor, where workers' compensation is involved, from maintaining any action for implied indemnity or contribution against the employer, any coemployee, or the exclusive representative of the injured person. Prohibits, for a person who is or would have been entitled to receive workers' compensation, any other action, unless a State or Federal workers' compensation law permits recovery based on a claim of an intentional tort. Makes these provisions inapplicable and declares that applicable State law shall control if the employer or the workers' compensation insurer asserts a right of subrogation, contribution, or implied indemnity against the manufacturer or seller or a lien against the claimant's recovery. Declares that, in any product liability action, the liability of each defendant for noneconomic damages shall be several and not joint. Requires the trier of fact to determine the proportion of responsibility of each party for the claimant's harm. Establishes a complete defense, in any civil action under this Act in which all defendants are manufacturers or sellers, that the claimant was under the influence of alcohol or any drug and that, as a result, the claimant was more than 50 percent responsible for the event which resulted in the harm. Defines "drug" to mean any non-over-the-counter drug which has not been prescribed by a physician.
United States · United States Congress · 13 March 1991
Commends the governments and peoples of the Baltic states on their use of democratic processes to regain their independence. Urges the President, if so requested by the government of any Baltic state, to establish offices in such states to facilitate diplomatic relations, technical assistance, cultural exchanges, and other mutually beneficial programs.
United States · United States Congress · 12 March 1991
Savings and Investment Incentive Act of 1991 - Title I: Retirement Savings Incentives - Amends the Internal Revenue Code to remove the limitations on deductions for individual retirement plans and provides a cost of living adjustment for deductible amounts. Establishes special individual retirement accounts that are nondeductible. Makes such accounts nontaxable if earnings on contributions are held for at least five years. Applies the early withdrawal penalty to distributions made before the end of the five year-period. Title II: Penalty-Free Distributions - Provides exemptions from the ten-percent penalty on early withdrawals from individual retirement plans for: (1) first home purchases; (2) higher education expenses; and (2) financially devasting medical expenses.
United States · United States Congress · 12 March 1991
Link-up for Learning Demonstration Grant Act - Establishes a program of grants to local educational agencies (LEAs) in partnership with other eligible entities for coordinated educational and other student support services for at-risk youth. Authorizes the Secretary of Education (the Secretary) to award such grants to eligible entities to pay the Federal share of costs of specified activities. Sets forth special considerations in awarding grants. Allows such grants to be for up to three years, subject to satisfactory progress. Makes eligible to apply for such a grant (provided that at least one LEA in the partnership is eligible to receive financial assistance for disadvantaged children under chapter 1 title I of the Elementary and Secondary Education Act of 1965): (1) at least one LEA in partnership with at least one public agency; (2) at least one nonprofit organization, institution of higher education, or private enterprise in partnership with at least one LEA; or (3) an LEA that is receiving assistance under the Head Start Transition Project Act in partnership with any designated Head Start agency. Requires eligible entities, in order to receive such grants, to serve: (1) educationally deprived students, students eligible to be counted under chapter 1, or students in chapter 1 schoolwide projects, and their family members; and (2) any school, grade span, or program area if the project design is of adequate size, scope, and quality. Sets forth: (1) authorized uses of grant funds by LEAs; (2) application requirements; (3) application review coordination; and (4) various limitations. Requires each eligible entity desiring such a grant to establish a coordinated services advisory council to develop its application. Establishes a Federal Interagency Task Force consisting of the Secretaries of Education, Health and Human Services, and Housing and Urban Development, and other appropriate Federal agency heads, to identify means to facilitate interagency collaboration at Federal, State, and local levels to improve support services for at-risk students. Requires the Task Force to: (1) identify and eliminate program regulations or practices impeding coordination and collaboration; (2) develop and implement plans for jointly funded programs, unified eligibility and application procedures, and confidentiality regulations that facilitate information sharing; and (3) make recommendations to the Congress on legislative action to facilitate coordination of support services. Directs the Secretary of Education to: (1) conduct a study of grantees under this Act to identify regulatory and legislative obstacles to coordinated support services and innovative procedures and programs; and (2) report study results to the Congress with recommendations for legislative action. Limits the Federal share of project costs to 80 percent. Authorizes appropriations for FY 1992 through 1994.
United States · United States Congress · 12 March 1991
Condemns: (1) the arrest and detention of Kenyan citizens for the peaceful expression of political views; and (2) the Kenyan Government's disregard of human rights and fundamental freedoms. Calls upon the Kenyan Government to: (1) end intimidation and harassment of those critical of government policies and those working for democracy in Kenya; and (2) implement safeguards to ensure freedom of the press and independence of the judiciary and to guarantee civil and human rights for individuals detained by the Government. Amends the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1991 to prohibit making available, obligating, or expending funds appropriated by any Act under the heading "Foreign Military Financing Program" for FY 1990 for Kenya until specified conditions are met.
United States · United States Congress · 12 March 1991
Requests the Occupational Safety and Health Administration to publish, before the expiration of 102d Congress, proposed amended regulations that specify the components of an adequate operator training program and certification system for operators of powered industrial trucks.
United States · United States Congress · 12 March 1991
Calls upon: (1) Burma's State Law and Order Restoration Council to cede legal authority to a civilian government as mandated by the May 1990 elections; and (2) the United Nations Human Rights Commission to seek greater access to Burma for its Expert on human rights and to continue and expand its scrutiny of human rights in such country. Condemns: (1) the arrest and detention of Burmese citizens for the peaceful expression of their political views; and (2) such Government's disregard of human rights and fundamental freedoms. Urges: (1) the President to impose additional economic sanctions upon Burma pursuant to the Customs and Trade Act of 1990; (2) the United States to affirm its support for the resettlement of Burmese asylum seekers; and (3) the Government of Thailand to accord all displaced Burmese temporary safe haven, protection against return of those who might face persecution, and access to procedures for third country resettlement for those Burmese refugees who are without safe and reasonable alternatives.
United States · United States Congress · 12 March 1991
Condemns the Government of the People's Republic of China for human rights violations in China, including Tibet, and for the arrest and detention of Chinese citizens for the peaceful expression of their views. Calls upon such Government to: (1) release the number and names of political and religious prisoners, the charges against them, and the dates scheduled for their trials; (2) allow international human rights organizations to observe the trials of political prisoners and the Chinese judicial process and to allow the International Red Cross to visit detention and reeducation centers and prisons; and (3) cease its support of the Khmer Rouge forces in Cambodia. Urges the President to inform Chinese leaders that the persistence of human rights abuses and continued detention of political prisoners will have a negative effect upon decisions to renew most-favored-nation trade status.
United States · United States Congress · 7 March 1991
Federal Facility Compliance Act of 1991 - Requires Federal agencies to perform assessments of hazardous substance releases from solid waste management units at each hazardous substance treatment, storage, or disposal facility owned or operated by such agencies after November 19, 1980. Requires such assessments to indicate whether such facilities are in compliance with specified environmental laws and to be provided to the Environmental Protection Agency (EPA) and to States in which such facilities are located. Directs the EPA Administrator to inspect such facilities annually to enforce compliance with such laws. Requires such inspections to include an analysis of groundwater monitoring. Makes inspection records available to the public. Requires Federal agencies owning or operating such facilities to reimburse the EPA for inspection costs. Amends the Solid Waste Disposal Act to waive sovereign immunity for Federal agencies with respect to certain requirements under such Act. Makes Federal employees subject to criminal sanctions under Federal or State solid or hazardous waste laws. Permits Federal agencies to: (1) represent or expend funds to represent an employee in State criminal proceedings if the actions for which representation were requested appear to have been performed within the scope of the employee's employment; and (2) reimburse an employee for defense costs in Federal criminal proceedings if actions were performed within such scope. Authorizes the Administrator to commence enforcement actions against Federal agencies pursuant to this Act.
United States · United States Congress · 7 March 1991
Amends the Internal Revenue Code to permit tax-exempt private foundations and community foundations to establish tax-exempt cooperative service organizations to operate exclusively for charitable purposes. Declares that the excise tax based on investment income applies to such organizations.
United States · United States Congress · 7 March 1991
Expresses the sense of the Congress that: (1) all Arab nations should recognize Israel, end the economic boycott against Israel, end the state of belligerency with Israel, and enter into direct negotiations with Israel for the purpose of concluding peace treaties and establishing full diplomatic relations; and (2) the United States should use all available means to influence and encourage the Arab states which were allied with it in the Persian Gulf War to achieve those objectives.
United States · United States Congress · 6 March 1991
Amends the Internal Revenue Code to extend the targeted jobs credit permanently. Increases the maximum age requirement for economically disadvantaged youth from 23 to 25. Allows employers to use the targeted jobs credit for employment of economically disadvantaged Persian Gulf veterans.
United States · United States Congress · 6 March 1991
Amends the Internal Revenue Code to provide for the recapture of losses claimed by a savings and loan association by reason of certain acquisitions and such association, after January 3, 1991, becomes subject to the jurisdiction of a bankruptcy court or similar case or received Federal financial assistance. Describes such acquisition as one which occurred after November 10, 1988, and before January 1, 1989, and one which the Federal Savings and Loan Insurance Corporation (FSLIC) provided assistance. Excludes Federal financial assistance from the determination of earnings and profits. Requires that, except in specified instances, certain Federal financial assistance be taken into account when determining losses or certain bad debts of savings and loans institutions (thus denying income tax deductions for losses or bad debts to the extent Federal assistance has compensated for them).
United States · United States Congress · 6 March 1991
Social Security Notch Adjustment Act of 1991 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to establish a new formula for computing the primary insurance amount of individuals who attain age 65 in or after 1982 and would otherwise be subject to the benefit computation rules of the Social Security Amendments of 1977. Extends the application of such transitional benefit computation rules to those who become eligible for benefits before 1989. (Currently those who become eligible after 1983 are subject to the benefit computation rules of the Social Security Amendments of 1977.)
United States · United States Congress · 5 March 1991
Comprehensive Deposit Insurance Reform and Taxpayer Protection Act of 1991 - Requires Federal banking agencies to take specified steps to strengthen capital standards for insured depository institutions, including: (1) requiring enough capital to facilitate prompt corrective action to prevent loss to the Bank Insurance Fund (BIF) and Savings Association Insurance Fund (SAIF); and (2) improving risk-based standards and controlling interest-rate and concentration of credit risk. Amends the Federal Deposit Insurance Act to direct the Securities and Exchange Commission to facilitate the development of accounting principles for insured depository institutions that: (1) accurately reflect the economic condition of such institutions; and (2) facilitate effective supervision and prompt corrective action to resolve troubled institutions' problems at no cost to the BIF or SAIF. Requires that the accounting principles applicable to insured depository institutions be no less conservative than generally accepted accounting principles (GAAP). Permits the banking agencies to prescribe more conservative accounting principles than GAAP to meet the purposes of this Act. Requires each appropriate Federal banking agency to conduct an annual on-site examination of each insured depository institution under its jurisdiction. Exempts from such requirement institutions for which a conservator has been appointed, or which have been examined by the FDIC during the past 12-month period. Mandates that each appropriate Federal banking agency take prompt corrective action to ensure that problems of ensured depository institutions are resolved at no cost to either the BIF or the SAIF. Prohibits an insured depository institution from making any capital distribution if it would be undercapitalized as a result. Requires banking agencies to monitor: (1) undercapitalized insured depository institutions; and (2) compliance with capital-restoration plans and restrictions (including period reviews). Requires an undercapitalized insured depository institution to submit a capital restoration plan within the time-frame established by the appropriate Federal banking agency. Specifies plan contents. Prohibits a Federal banking agency from accepting a capital restoration plan unless each company having control of the insured depository institution guarantees its compliance with the plan until the capital standards have been satisfied for 12 consecutive months and the institution provides appropriate assurances of performance. Mandates the establishment of deadlines by Federal banking agencies for plan submission and review. Prohibits an undercapitalized insured depository institution from increasing its total assets. Sets forth asset growth restriction guidelines. Authorizes banking agencies to set forth certain restrictions upon an undercapitalized insured depository institution that fails to submit an acceptable capital restoration plan within agency-set limits (or that fails in any material respect to implement a plan accepted by the agency). Prohibits an undercapitalized insured depository institution from making certain compensation or bonus payments to its executive officers if it fails to: (1) submit an acceptable capital-restoration plan within agency-set deadlines; or (2) implement a capital-restoration plan accepted by the banking agency. Mandates that Federal banking agencies specify by regulation "critical capital levels" so that problems of insured depository institutions can be resolved at no cost to the BIF or SAIF when the institution's capital falls below such a level. Requires the concurrence of the Federal Deposit Insurance Corporation (FDIC) for any critical capital level that is less stringent than that specified by the FDIC for State nonmember insured banks. Prohibits an insured depository institution from making any payments of principal or interest on its subordinated debt unless it has capital sufficient to meet the critical capital level after making such payment. Mandates that the appropriate Federal banking agency: (1) appoint a conservator or receiver within 30 days after an institution's capital falls below the requisite critical level; and (2) place specified restrictions upon such institution's activities. Exempts from such restrictions institutions for which a conservator or receiver has been appointed. Requires the inspector general of the appropriate Federal banking agency to report to the Comptroller General and the FDIC with respect to: (1) the agency's supervision of an insured depository institution which has caused a loss to either the BIF or the SAIF; and (2) why the agency failed to resolve the institution's problems at no cost to either insurance fund. Requires public disclosure of such report. Amends the Federal Deposit Insurance Act, the Bank Conservation Act, and the Home Owners' Loan Act to cite as additional grounds for appointment of a conservator or receiver of a depository institution: (1) inability to achieve capital compliance standards by selling shares or obligations; (2) non-compliance with capital standards; (3) failure to submit an acceptable capital-restoration plan within the prescribed time-frame; (4) material failure to implement a capital-restoration plan; and (5) failure to achieve prescribed critical capital levels. Authorizes the Comptroller of the Currency to appoint a receiver for national banks on the same non-compliance grounds. Amends the Federal Deposit Insurance Act to authorize: (1) a banking agency to appoint the FDIC as sole conservator or receiver of any insured State depository institution; and (2) the FDIC to appoint itself as conservator or receiver for insured depository institutions to prevent loss to the affected deposit insurance fund. Provides that commitments made to specified regulatory agencies to maintain the capital of an insured depository institution may be enforced under this Act. Requires all deposits at insured depository institutions to be registered under a taxpayer or employer identification number. Sets forth guidelines for the calculation of the amount of deposit insurance providing that the maximum amount of any depositor's insured deposit at any insured depository institution shall be: (1) $100,000; and (2) an additional $100,000 for certain pension accounts established under profit-sharing plans, and individual retirement arrangements. Directs the FDIC to aggregate the amounts of all deposits in an institution registered under the depositor's taxpayer identification and to deduct any offsets. Prohibits deposits from being insured on a pro-rata or pass-through basis except for certain tax-exempt trusts and individual retirement arrangements. Prohibits an insured depository institution from accepting deposits from intermediaries (brokered deposits) unless: (1) it is in compliance with prescribed capital standards; and (2) it does not pay interest rates significantly exceeding those paid on deposits not made by or through intermediaries. Authorizes the FDIC to: (1) prohibit insured depository institutions from accepting deposits through any intermediary; and (2) establish terms under which such institutions may accept deposits from or through intermediaries. Directs the FDIC to: (1) exercise its authority so as to prevent insured depository institutions' acceptance of brokered deposits from posing any significant risk to the BIF, the SAIF, or the Resolution Trust Corporation (RTC); and (2) prescribe regulations prohibiting, except in certain circumstances, any insured depository institution that accepts brokered deposits from rapidly increasing its assets or permitting brokered deposits to increase at a rate exceeding the rate of increase of its total deposits, unless the FDIC permits. Directs the FDIC to satisfy its obligations to an institution's insured depositors according to guidelines for the least possible long-term cost to the affected deposit insurance fund. Provides that an affiliate of an insured depository institution shall be liable to the FDIC for up to a specified maximum of such institution's assets if the FDIC either: (1) incurs a loss in connection with such institution; or (2) provides assistance to an institution in danger of default. Directs the FDIC to establish a risk-based assessment system for insured depository institutions. Authorizes the FDIC to: (1) obtain private reinsurance covering not more than ten percent of any loss incurred by the FDIC with respect to such an institution, and base that institution's assessment rate on the cost of such reinsurance; and (2) establish separate risk-based assessment systems for BIF and SAIF members. Prescribes guidelines for such assessment system, including maintenance of designated reserve ratios. Makes assessments semiannual. Directs the FDIC to set the designated reserve ratio of the BIF separately from that of the SAIF. Sets forth recordkeeping requirements for assessment purposes. Authorizes the FDIC to restrict any activity of insured banks that poses a significant risk to the affected deposit insurance fund. Prohibits an insured State bank and its subsidiaries from engaging as principal in any activity that is impermissible for a national bank and its subsidiaries, unless specified conditions have been met. Prohibits State banks or their subsidiaries from directly acquiring any equity investment of a type or amount that is impermissible for a national bank or its subsidiaries. Exempts community development investments from this prohibition if the bank is in compliance with federally prescribed capital standards. Prohibits an insured bank from acquiring, directly or through a subsidiary, any corporate debt security that is not of investment grade. Amends the Federal Reserve Act to apply to subsidiaries as well as member banks the prohibition against making loans or extending credit (including assets purchases) in excess of established limits to executive officers or other specified insiders. Amends the Home Owner's Loan Act to apply the same prohibition to savings associations. Amends the Bank Holding Company Act Amendments of 1970 to apply to savings banks and savings associations certain prohibitions against tying arrangements and specified restrictions on correspondent accounts with respect to preferential loans. Amends the Federal Deposit Insurance Act with respect to nonmember insured banks and prohibitions against loans to executive officers and preferential loans to insiders, as well as proscriptions against extensions of credit to officers, directors and principal shareholders. Applies the credit extension proscription to any insured branch of a foreign bank, but not to the foreign bank itself solely because it has an insured branch. Amends the Federal Reserve Act to direct the Board of Governors of the Federal Reserve System (the Board) to limit, by regulation, an insured depository institution's exposure to any depository institution. Prohibits a depository institution from accepting deposits for the account of any insured depository institution unless the accepting institution has: (1) capital exceeding currently prescribed capital standards; and (2) such additional capital as the Board determines necessary to implement the purposes of this Act. Amends the Federal Deposit Insurance Act to direct the FDIC to satisfy its obligations to an institution's insured depositors according to guidelines for the least possible long-term cost to the affected deposit insurance fund. Provides that an affiliate of an insured depository institution shall be liable to the FDIC for up to a specified maximum of such institution's assets if the FDIC either: (1) incurs a loss in connection with such institution; or (2) provides assistance to an institution in danger of default. Sets forth guidelines for the certification as insured depository institutions of noninsured national non-member banks and State banks which became Federal Reserve members. Mandates that the financial status reports required of insured depository institutions with certain assets include: (1) estimates of the aggregate market value of assets and liabilities and the resulting estimated net worth and supporting data and assumptions used in preparing the estimates; and (2) disaggregated reports of assets, including participation in highly-leveraged transactions, holdings of noninvestment grade securities, commercial and industrial loans by sector, and other assets as specified by the appropriate Federal banking agency. Requires each depository institution to submit reports to the appropriate banking agency regarding: (1) the names of holders of more than five percent of the insured institution's equity securities and the maximum amount of securities held by each such holder during the preceding quarter; and (2) a description of activities conducted by the institution and its subsidiaries that are not permitted for national banks or for bank holding companies, with data on the magnitude of the activity. Makes such reports available to the public. Mandates that Federal banking agencies report annually to the Congress regarding: (1) the estimated number and aggregate assets of insured depository institutions likely to fail in the ensuing two years; (2) how insured depository institutions and their subsidiaries conduct activities not permitted for national banks or for bank holding companies; (3) the number and assets of insured depository institutions in various stages of solvency and capitalization; and (4) the extent of compliance with cease-and-desist orders, supervisory agreements, and capital restoration plans. Requires the FDIC to include in its annual status report to the Congress certain information pertaining to failed depository institutions and institutions which are either on the problem bank list or likely to be on it. Sets forth guidelines for confidential access by the Congressional Budget Office to a banking agency's: (1) internal rating list of institutions; and (2) list of troubled institutions. Directs the Comptroller General to: (1) review the oversight by the Federal banking agencies with respect to required reports of conditions; and (2) audit the failure estimates contained in specified reports. Directs the Securities and Exchange Commission to facilitate the development of: (1) disclosure guidelines for the purpose of accurate financial status disclosure and prompt corrective action to resolve troubled institutions' problems at no cost to the BIF or the SAIF; and (2) interpretive guidelines of accounting standards for the early disclosure of problem loans, and to prevent delay in recognizing losses that may result in loss to the BIF or the SAIF. Amends the Home Owner's Loan Act to repeal the conditions placed upon public disclosure of the reports of conditions supplied to the Director of the Office of Thrift Supervision with respect to Federal savings associations. Amends the Federal Deposit Insurance Act to provide that by becoming insured under the Act a depository institution consents to be bound by Federal statutes relating to the safety and soundness of insured depository institutions. Requires an uninsured depository institution to disclose its uninsured status clearly and conspicuously on signature cards, passbooks, periodic statements of account, and in all advertising according to specified guidelines. Exempts from the disclosure requirements certain institutions not accepting retail deposits. Authorizes the National Credit Union Administration to enforce the same disclosure by uninsured credit unions.
United States · United States Congress · 5 March 1991
Authorizes the President to present a gold medal to General Colin Powell in recognition of his exemplary performance in planning and coordinating the U.S. military response to the Iraqi invasion of Kuwait. Authorizes appropriations.
United States · United States Congress · 28 February 1991
Department of the Environment Act of 1991- Title I: Elevation of the Environmental Protection Agency to Cabinet Level - Department of the Environment Act - Redesignates the Environmental Protection Agency (EPA) as the Department of the Environment, an executive agency to be administered by a Secretary of the Environment. Encourages the Secretary to: (1) assist the Secretary of State in participating in international environmental protection agreements and organizations; (2) conduct research on international environmental problems and develop responses to such problems; and (3) provide technical and other assistance to foreign countries and international bodies to improve the environment. Provides for the continuance of specified EPA positions without renomination or reconfirmation. Establishes: (1) a Bureau of Environmental Statistics within the Department; and (2) an Advisory Council on Environmental Statistics to advise the Bureau on statistics and analyses. Authorizes appropriations. Authorizes the Secretary of the Environment to make grants to, and enter into contracts with, State and local governments to assist in data collection. Directs the Secretary to enter into an agreement with the National Academy of Sciences for a study and report on the adequacy of the Department's data collection procedures and capabilities. Sets forth administrative provisions concerning the acquisition of gifts, property, copyrights, and patents by the Department. Provides that the EPA seal shall be the official departmental seal until the Secretary approves another seal. Prescribes civil and criminal penalties for unauthorized uses of the seal. Authorizes the Secretary to promulgate regulations governing advisory committee standards of conduct and compensation. Sets forth conflict-of-interest disclosure requirements for persons entering into contracts or other arrangements for the provision of services with the Secretary. Directs the Secretary to promulgate regulations requiring public notice to be given when the award of a contract, agreement, or other arrangement may result in a conflict-of-interests. Title II: Environmental Role of the United States in International Organizations to Which It Belongs - Urges the Secretary of State to convene international conferences to encourage the exchange of information on energy efficiency and environmentally acceptable renewable energy sources. Requires the President to encourage the establishment of an international office to monitor annual generation of carbon dioxide and trace gases on a country-by-country basis. Title III: Establishment of the Commission on Improving Environmental Protection - Establishes the Commission on Improving Environmental Protection to make recommendations on the implementation of Federal environmental laws to protect human health and the environment. Authorizes appropriations. Title IV: Effective Date - Sets forth the effective date of this Act.
United States · United States Congress · 28 February 1991
Authorizes the President to present a gold medal to General H. Norman Schwarzkopf in recognition of his exemplary performance in coordinating the planning, strategy, and execution of U.S. combat action and his invaluable contributions to the United States and to the liberation of Kuwait. Authorizes appropriations.
United States · United States Congress · 28 February 1991
Applauds and expresses the appreciation of the Nation to President George Bush, Secretary of Defense Dick Cheney, Armed Forces Chief of Staff Colin Powell, Desert Storm Commander Norman Schwarzkopf, the American forces deployed in the Persian Gulf region, the forces from our coalition partners, and the families of American service men and women participating in Operation Desert Storm. Sends condolences to the families of those killed during such operation. Demands from Saddam Hussein: (1) the immediate release of all prisoners of war held by Iraq; (2) a complete accounting for all American and coalition forces listed as missing in action or otherwise unaccounted for; and (3) the immediate and unconditional release and return of all Kuwaiti citizens held by Iraqi forces. Urges all relevant authorities to seriously examine the issue of possible war crimes by Hussein and other Iraqi military leaders and forces and to hold Iraq responsible in principle for reparations for the destruction caused by the invasion and occupation of Kuwait.
United States · United States Congress · 26 February 1991
Comprehensive Maternal and Early Childhood Health Care Act - Amends the Public Health Service Act to provide for the use of certain funds appropriated for migrant health centers (MHCs) and community health centers (CHCs) for: (1) the development and operation of Comprehensive Perinatal and Early Childhood Health Programs (CPECHPs); and (2) expanding services for pregnant women and children where MHCs and CHCs are already operating Comprehensive Perinatal Care Programs. Provides for grants to MHCs and CHCs for the CPECHPs. Limits the amount of funds appropriated for CHCs which may be used to plan and develop CHCs. Authorizes appropriations for immunizing individuals without charge and for related research, demonstration projects, public information and education, and professional training. Directs the Secretary of Health and Human Services, through the Centers for Disease Control (CDC), to provide vaccines to the health department of each State, spending a specified minimum amount. Amends the Vaccine and Immunization Amendments of 1990 to direct the Secretary, through the CDC, to: (1) make grants to States (currently, to public and nonprofit private entities) for demonstration projects to provide, without administrative charge (currently, without charge), immunizations to children not over two years old; and (2) provide immunizations related to certain programs under the Public Health Service Act and the Child Nutrition Act of 1966; and (3) maintain private physician participation in immunization services and to encourage private physicians to provide such services to infants and children enrolled under title XIX (Medicaid) of the Social Security Act. Authorizes appropriations. Amends the Public Health Service Act to add substance abuse treatment and prevention services to the list of supplemental health services with regard to MHCs and CHCs. Replaces provisions mandating model drug and alcohol abuse projects for pregnant and postpartum women and their infants with provisions directing the Secretary, through the Director of the Office for Substance Abuse Prevention, to make demonstration grants for substance abuse prevention, education, and treatment projects serving pregnant and postpartum women and their infants. Includes in the services to be offered outreach, prenatal and postpartum health care, pediatric health care, support services such as child care and transportation, referrals, employment counseling, and case management. Requires that services covered by title XIX (Medicaid) of the Social Security Act be provided by an entity qualified to receive Medicaid payments. Requires non-Federal matching contributions in a specified ratio. Limits grants to five years; allows renewal. Directs the Secretary to assist the prenatal clinics in the United States in implementing smoking cessation programs to decrease rates of smoking during pregnancy. Authorizes the Secretary to make grants to or contracts with public entities for programs and policies to prevent and encourage cessation of tobacco use during pregnancy. Authorizes appropriations.
![Official portrait of Sen. Riegle, Donald W., Jr. [D-MI]](https://www.congress.gov/img/member/r000249_200.jpg)