United States · United States Congress · 21 May 1981
Debt Collection Act of 1981 - Amends the Privacy Act of 1974 to permit a Federal agency to disclose individual records to a consumer reporting agency. Authorizes a Federal agency attempting to collect a claim under the Federal Claims Collection Act of 1966 to notify a consumer reporting agency that a person is responsible for a claim if: (1) the agency has sent a written notice informing the person that a consumer reporting agency will be contacted, describing the information to be disclosed, and explaining the person's right to dispute the agency's claim; (2) the person has not agreed to repay the claim or filed for review of the claim; (3) the agency, upon request, has reviewed the claim; and (4) the agency has obtained assurances that the consumer reporting agency complies with Federal laws governing the provision of consumer credit information. Requires the agency to notify the consumer reporting agency promptly concerning any change in the status or amount of the claim. Directs Federal agencies to require any individual applying for credit or financial assistance, which may result in indebtedness to the Government, to furnish his or her social security numbers. Authorizes an agency (including the United States Postal Service) to deduct installment payments from the pay of an employee or member of the Armed Forces or Armed Forces Reserve to offset any debts owed the Government. Limits the amount deducted to 25 percent of the individual's disposable pay. Makes murder or manslaughter of a Federal debt collector a Federal offense. Amends the Internal Revenue Code to authorize the Secretary of the Treasury to disclose to a Federal agency: (1) information concerning the tax liability of a Federal loan applicant; and (2) the mailing address of a taxpayer for use by employees or agents of the agency in collecting or compromising a Federal claim. Increases the rate of interest on delinquent taxes to 100 percent (currently 90 percent) of the prime rate quoted by commercial banks to large businesses. Permits the annual (currently biennial) adjustment of such interest rate. Allows the Government to collect claims by administrative offset beyond the six year statute of limitations on actions brought by the Government for money damages. Directs each agency to charge a minimum annual rate of interest on outstanding debts and to assess a penalty charge and handling costs on delinquent claims, except where another statute, statutorily mandated regulation, loan agreement, or contract either prohibits or explicitly fixes interest or penalty charges. Declares that service of legal process brought for the collection of U.S. claims shall be accomplished in accordance with the Federal Rules of Civil Procedure or as directed by the court. Requires the Director of the Office of Management and Budget to: (1) direct each agency with outstanding debts to submit to the Director and the Department of the Treasury an annual report on the status of the agency's loans and accounts receivable; and (2) report to Congress annually on the management of agency debt collection activities.
United States · United States Congress · 18 May 1981
Malt Beverage Interbrand Competition Act - Declares that no antitrust law shall prohibit the importer, brewer, or trademark licensee of a trademarked malt beverage from entering into an agreement granting a wholesale distributor the exclusive right to sell such beverage within any defined geographic area within a State, or limiting such distributor to the sale of such beverage for ultimate resale to consumers in that area, when such beverage has substantial competition from other malt beverages in that area. Declares that this Act shall not affect any provision of State law.
United States · United States Congress · 12 May 1981
Expanded Ownership Act of 1981 - Amends the Internal Revenue Code to establish, without expiration dates, an investment tax credit percentage income tax for contributions by an employer to a tax credit employee stock ownership plan (ESOP). Sets the amount of such credit at a sum equal to the lesser of: (1) the aggregate value of employer securities transferred for the taxable year to a tax credit ESOP; or (2) one percent of the aggregate compensation paid or accrued during the taxable year to all employees under such a plan. Includes amounts of the credit as part of the investment tax credit amount. Denies business expense, production of income expense, or contribution to deferred-payment plan deductions for amounts required to be transferred to a tax credit ESOP. Allows an employer to take advantage of the investment tax credit even though he or she contributes employer securities to an ESOP with an aggregate value of less than one percent of the qualified investment. Allows an income tax deduction for employer contributions to an ESOP which are applied to the repayment of principal and interest on a loan incurred for the purpose of acquiring qualifying employer securities. Limits the deductible amount for principal contributions to 25 percent of the compensation otherwise paid or accrued to all employees under the plan for the taxable year. Exempts such an ESOP from the limitations otherwise imposed on annual additions to an employee stock ownership plan. Increases the permissible deduction for employer contributions made to both a stock bonus trust and a profit sharing trust if the additional amount deductible is attributable to a contribution of employer stock or amounts used for the acquisition of such stock. Allows an income tax deduction for cash dividends paid with respect to employer stock which is held by a tax credit ESOP or by a former employee or a beneficiary to whom the stock was distributed from a tax credit ESOP or an ESOP. Extends the partial exclusion for dividends received to such amounts. Excludes from the gross income of an ESOP or a tax credit ESOP participant any lump-sum distribution of employer securities (not to exceed $25,000) made from a qualified trust which is part of an ESOP or a tax credit ESOP. Deems contributions, bequests, or similar transfers of employer securities, under certain conditions, to an ESOP or to a tax credit ESOP as a deductible charitable contribution. Provides for nonrecognition of any long-term capital gain from the sale of small business stock to an ESOP, a tax credit ESOP, or a specified type of consumer cooperative, except to the extent that the taxpayer's sale price exceeds the cost of small business stock or small business investment company stock purchased by the taxpayer within 18 months after the date of such sale. Reduces the basis of such stock by the amount not recognized as gain. Prescribes a three-year statute of limitations for the assessment of any deficiency attributable to gain realized by the sale of small business stock. Relieves an estate of liability for payment of the estate tax to the extent that amounts of the tax are attributable to employer securities transferred to an ESOP pursuant to a written agreement guaranteeing that the tax will be paid by the plan in an amount equal to the lesser of: (1) the amount of the tax imposed upon the acquired employer securities; or (2) the amount of the tax imposed on the gross estate reduced by the sum of allowable credits. Permits the payment of such tax in installments. Exempts such transfers from the tax on prohibited transactions. Permits the use of nonvoting stock in tax credit employer stock ownership plans. Permits a tax credit ESOP, where ownership of all outstanding employer securities is restricted to employees, to distribute benefits in cash although it does not permit a participant to exercise the right to demand that benefits be distributed in employer securities. Allows a stock bonus plan which distributes benefits in cash to qualify as a deferred compensation plan if benefits may be distributed in the form of any securities of the employer held by a tax credit ESOP. Allows financial institutions whose securities are not readily tradable to reduce the period for exercise of a put option to a period of at least 60 days following the date of distribution of employer stock and an additional such period in the following plan year. Permits a trust which is part of an ESOP or a tax credit ESOP to be a shareholder in a subchapter S corporation. Permits distributions from a tax credit ESOP of employer securities allocated to a participant's account in the case of a sale of the assets of a division or a sale of the stock of a subsidiary and the transfer of the participant to the employment of the acquiring entity. Includes provision of cafeteria plan benefits in qualified cash or deferred arrangements, for purposes of applying participation and discrimination standards to profit-sharing or stock bonus plans.
United States · United States Congress · 12 May 1981
Expresses the sense of the Senate that Anatoly Shcharansky be released from prison in the Soviet Union, be given proper medical treatment, and be permitted to emigrate to Israel. Urges the President, the Secretary of State, and the U.S. delegation to the Madrid Conference on Security and Cooperation to continue to express U.S. opposition to the imprisonment of Anatoly Shcharansky.
United States · United States Congress · 6 May 1981
Delinquent Payments Act of 1981 - Requires Federal agencies to pay interest on overdue payments to businesses for property or services. Specifies the procedure for computing such interest. Requires an agency to pay any such interest charges out of funds appropriated for its programs. Allows an agency to take advantage of an early payment discount only if payment is made within the time specified by the business. Directs each agency to report to Congress annually on interest payments made during the fiscal year.
United States · United States Congress · 30 April 1981
Regulatory Reform Act - Amends the Administrative Procedure Act to require the notice of proposed agency rulemaking to include: (1) a statement of the Congressional intent behind the rule; (2) a solicitation for public proposals for alternative methods; (3) a description of the data used in the rulemaking; and (4) a determination of whether the rule is a "major rule," as defined in this Act. Directs each agency to publish with such notice: (1) a description of the costs and benefits of and alternatives to the proposed rule; and (2) a justification for proposing the rule and selecting it over the alternatives. Requires agencies to give interested persons at least 60 days to submit written comments on any proposed rule and to make oral comments on major rules. Provides for a 30-day extension of such period. Directs each agency to publish with each final rule a statement of its basis and purpose, including an assessment of the public comments and a comparison of the costs, benefits, and adverse effects of the rule. Requires an agency officer or employee to prepare the rulemaking notice and the statement of the basis and purpose. Directs each agency to maintain, for judicial review, a public file of the paperwork and comments pertaining to each rulemaking proceeding. Allows an agency to promulgate an emergency rule without meeting the notice and comment requirements. Directs such agency: (1) to publish an explanation of the situation requiring the emergency rule and a justification of the emergency rule selected; and (2) to comply with normal rulemaking requirements as soon as practicable. Requires each agency to review its major rules every ten years. Directs each agency to: (1) publish and submit to the President a proposed review schedule; and (2) publish a final schedule within one year after enactment of this Act. Permits the President to select additional rules for review. Directs each agency to publish a notice of its proposed action regarding a reviewed rule. Requires that the notice: (1) assess the costs, benefits, and adverse effects of the rule; and (2) invite public proposals for modifications or alternatives to the rule. Requires an agency to follow normal rulemaking procedures when amending or rescinding a rule. Specifies procedures for renewing a rule without amendment. Directs a court reviewing an agency action to: (1) set aside any agency rule found to lack substantial support in the rulemaking file; (2) determine the authority or jurisdiction of the agency on the basis of the language of the authorizing statute or other evidence of legislative intent; and (3) accord no presumption in favor of or against agency action. Declares that when proceedings for review of the same agency action are instituted in two or more courts of appeals within ten days, the Administrative Office of the United States Courts shall select the court in which the record shall be filed by a system of random selection. Authorizes the courts not selected to grant preliminary relief pending transfer of their proceedings. Requires each agency to publish in the Federal Register, semiannually, an agenda of the rules the agency expects to propose, promulgate, renew, or withdraw within the next 12 months, including a schedule of the significant actions pertaining to each rule. Directs the President to publish, semiannually, a Calendar of Federal Regulations, listing each of the major rules included in the agenda.
United States · United States Congress · 29 April 1981
Title I: Amendments to Title 18, United States Code (18 U.S.C. 921-928) - Amends the Gun Control Act of 1968 to redefine: (1) "manufacturer" to mean any person engaged in the "business of manufacturing" (instead of "manufacture" of) firearms or ammunition; and (2) "dealer" to exclude dealers in ammunition. Adds a new definition "engaged in the business" with respect to manufacturers, dealers, and importers. Defines as a manufacturer or dealer of firearms a person who manufactures or deals in a regular course of trade or business with the principal objective of livelihood and profit. Excludes as dealers persons making occasional sales or repairs of firearms. Eliminates certain activities involving ammunition from the coverage of the current prohibitions. Makes it unlawful for any person to transfer any firearm to a person who does not reside in the same State, if the transferor has reasonable cause to believe that acquisition of the firearm by such person would violate any State or local law or ordinance. Revises the current prohibition against certain classes of persons transporting a firearm or ammunition in interstate commerce to extend such prohibition to possession or receipt in commerce or affecting commerce of any firearm or ammunition. Includes as additional categories illegal aliens, dishonorably discharged members of the Armed Forces, and U.S. citizens who renounce their citizenship. Excludes ammunition dealers from the current licensing requirements. Declares that a licensed dealer's personal collection of firearms shall not be subject to recordkeeping requirements. Permits the Secretary of the Treasury to revoke a license only where the holder "willfully" violates a provision of the Act. Bars the Secretary from denying or revoking a license on the basis of violations which are alleged in criminal proceedings instituted against a licensee, where such individual is not convicted of such charges. Imposes as a condition for the inspection or examination of records, documents, firearms, or ammunition that the Secretary has probable cause to believe that a violation has occurred and that evidence may be found on the premises. Restricts the firearms information obtained from licensees which the Secretary may make available to State or local governments. Establishes a limited recordkeeping requirement for firearms collectors. Establishes a "willful" scienter (knowledge) requirement with respect to general violations of the Act. Revises the current offense of using or carrying a firearm during commission of a Federal felony to: (1) include use of a destructive device; (2) delete the act of "carrying" a firearm to commit a felony; and (3) limit such offense to felonies over which the Federal courts have exclusive jurisdiction. Retains the current penalty (one to ten years) for first offenses. Increases the penalty for second or subsequent offenses to five to 25 years' imprisonment (currently, two to 25 years). Extends to first offenders the stipulations, currently applicable only to second offenders, that the court not suspend any sentence or grant probation. Deletes the prohibition against concurrent sentences. Prohibits the granting of parole to first and subsequent offenders. Declares that no person shall be subject to the additional, mandatory penalties if use of the firearm or destructive device was to protect persons or property. Amends the forfeiture provision to subject to seizure any firearm or ammunition "involved in or used" in any violation of the Act (instead of "involved in or used or intended to be used"). Directs the court to award attorney fees to the prevailing party (other than the United States) in a proceeding for the return of seized firearms or ammunition. Requires the court to award such fees in any other action upon a finding that the action was without foundation or was initiated in bad faith. Limits seizure to firearms individually identified as involved in the violation. Revises the current procedure allowing persons who have been convicted of a crime to apply to the Secretary for relief from the firearms prohibitions to make the following changes. Permits any person prohibited from possessing, shipping, transporting, or receiving firearms or ammunition to apply for relief. Requires, instead of permits, the Secretary to grant release, unless the applicant will be likely to act in a manner dangerous to public safety. Permits any person who is denied relief to seek de novo judicial review in Federal court. Makes the authority of the Secretary to permit importation of certain types of firearms and ammunition nondiscretionary. Extends the types of sporting firearms which may be imported. Amends the rulemaking authority of the Secretary to provide that no regulation may require the transfer of records required under this Act to a facility owned, managed, or controlled by the United States or any State or the establishment of any system of registration of firearms, firearms owners, or firearms transactions. Requires a 90-day public comment period for proposed regulations (no period is currently specified). Establishes a Congressional veto procedure with respect to firearms regulations. Authorizes either House of Congress to adopt a resolution of disapproval within 90 days of the rule's promulgation. Prohibits the Secretary from prescribing regulations which require purchasers of black powder to complete affidavits or forms attesting to their exemption from certain provisions of the Federal criminal code. Declares any law or regulation promulgated by any State prohibiting the transfer of an unloaded and not readily accessible firearm or ammunition null and void. Title II: Amendments to Title VII of the Omnibus Crime Control and Safe Streets Act of 1968 - Repeals title VII of the Omnibus Crime Control and Safe Streets Act (relating to the receipt, possession, or transportation of firearms by felons, veterans dishonorably discharged, mental incompetents, illegal aliens, and persons renouncing their United States citizenship).
United States · United States Congress · 29 April 1981
Amends the Intergovernmental Personnel Act of 1970 to repeal specified provisions which: (1) establish an advisory council on intergovernmental personnel policy; (2) authorize the Office of Personnel Management to make grants to State and local governments for the development of personnel administration systems based on merit principles, for employee training, and for Government Service Fellowships; and (3) authorize or direct the Office to provide other types of personnel administration assistance to such governments. Amends the policy of such Act to place responsibility on the State and local governments for developing a high caliber State and local public service based on merit principles. Abolishes all statutory merit personnel requirements established as a condition of the receipt of Federal grants-in-aid by State and local governments.
United States · United States Congress · 29 April 1981
Repeals current Federal law regarding overtime compensation for Immigration and Naturalization Service employees performing inspection duties. Amends the Immigration and Nationality Act to make such overtime calculable under appropriate provisions of Title 5 of the United States Code.
United States · United States Congress · 28 April 1981
Coastal Barrier Resources Act - Declares the findings and intentions of Congress in regard to the fish, wildlife, and other natural resources associated with the coastal barriers along the Atlantic and Gulf coasts of the United States. Establishes the Coastal Barrier Resources System (System) which shall consist of specified undeveloped coastal barriers on the Atlantic and Gulf coasts. Requires that certain coastal barrier maps shall be available for public inspection through the United States Fish and Wildlife Service. Directs the Secretary of the Interior to provide copies of such maps to the chief executive officer of: (1) each State and political subdivision in which a System unit is located, and (2) each affected Federal agency. Directs the Secretary to make necessary modifications to such maps and to notify specified Congressional committees of the same. Limits, to specified projects, Federal expenditures on such projects or financial assistance for purposes within the System. Lists those projects eligible for financial assistance. Requires the Director of the Office of Management and Budget to certify annually to Congress that the Federal agencies concerned have complied with the provisions of this Act. Declares that no provision of this Act shall be construed to invalidate any provision of State or local law. Sets forth the contents of reports to be filed by the Secretary with specified Congressional committees. Authorizes appropriations to the Department of the Interior for fiscal years 1982 through 1986 for the purposes of this Act.
United States · United States Congress · 27 April 1981
Amends the Internal Revenue Code with respect to a person entitled to notice of a summons to a third-party recordkeeper to produce records of such person: (1) to repeal the current right of such person to stay compliance with the summons; and (2) to authorize such person to move to quash the summons within 14 days after notice is given. Requires accompaniment of such motion by an affidavit stating the reasons that the records sought are not relevant to a legitimate tax inquiry or any other legal basis for quashing the summons. Requires any third party upon receipt of a summons to proceed to assemble the records requested and to be prepared to deliver them at the required time.
United States · United States Congress · 9 April 1981
International Trade and Investment Reorganization Act of 1981 - Establishes the Department of International Trade and Investment to be administered by a Secretary of International Trade and Investment appointed by the President. Directs the Secretary, among other things, to: (1) coordinate U.S. policies for promoting beneficial international trade relationships; (2) negotiate U.S. international trade agreements; (3) protect American industry, agriculture, and labor from unfair or injurious foreign competition; (4) develop trade monitoring systems; (5) develop and implement U.S. policies concerning foreign investments; and (6) administer the U.S. Customs Service and maintain the U.S. tariff schedules. Transfers to the Secretary all functions of: (1) the U.S. Trade Representative; (2) the Secretary of Commerce relating to specified agencies, specified Acts, and international trade and investment; (3) the Secretary of the Treasury relating to international trade and investment, economic analysis of international trade and investment policies, and the U.S. Customs Service; and (4) the Secretary of State relating to international trade investment. Transfers to the Department the: (1) U.S. Customs Service; (2) Export-Import Bank of the United States; and (3) Overseas Private Investment Corporation. Transfers to the Department of Housing and Urban Development the Economic Development Administration and the Office of Regional Development. Transfers the Maritime Administration to the Department of Transportation. Transfers the National Oceanic and Atmospheric Administration to the Department of the Interior. Transfers the functions of the Director of the Census to the Director of the Bureau of the Census. Establishes an independent Bureau of the Census to be administered by a Director of the Census appointed by the President. Sets forth the Director's duties and functions. Amends the Trade Expansion Act to establish a Trade Policy Committee chaired by the Secretary of International Trade and Investment to assist the President in carrying out the functions vested in the President relating to trade agreements and import relief (replaces an interagency trade organization). Establishes the Trade Negotiating Subcommittee to advise the Secretary on management of international trade and investment negotiations. Sets forth administrative provisions applicable to the Department of International Trade and Investment. Directs the Secretary to submit a report annually to the President for submission to the Congress on the Department's activities. Provides for the transfer of personnel, assets, records, and funding to correspond with the transfers of functions, offices, and agencies made by this Act. Terminates: (1) any department or agency in which all the functions of such department or agency are transferred by this Act; (2) the Department of Commerce; and (3) the Office of the U.S. Trade Representative. Makes certain technical and conforming amendments to specified Acts so that the provisions of such Acts reflect the executive reorganization made by this Act. Provides for: (1) the separability of provisions of the Act; (2) interim officer appointments; and (3) initial appointment of officers created by this Act.
United States · United States Congress · 9 April 1981
National Export Policy Act of 1981 - Title I: General Findings and Purposes - Sets forth congressional findings and the purposes of this Act. Title II: Export Financing - Amends the Export - Import Bank Act of 1945 to establish staggered, ten-year terms of office for the Bank directors. Requires the House and Senate Appropriations Committees to consider limitations on Bank activities when considering appropriations for international trade activities rather than when considering foreign assistance activities. Title III: Export - Related Tax Policy - Amends the Internal Revenue Code to increase the earned income exclusion for citizens working abroad, who are bona fide residents of a foreign country, from an annual rate of $20,000 to $50,000 plus 50 percent of such individual's compensation which exceeds $50,000 but does not exceed $75,000, if such persons qualify as bona fide residents for certain specified periods. Allows separate exclusions to married individuals who are both working overseas, although one's excess exclusion cannot be used against income earned by the other. Provides a tax exclusion for such individuals for the amount by which such individual's housing expenses exceed 16 percent of a GS-14, step 1 salary level for a Federal employee. Permits such individuals to include in the computation of housing expenses the costs of a second foreign household if such individual's family resides outside the United States but not with the individual because of adverse living conditions where the individual resides. Repeals similar deductions for cost-of-living differential, schooling expenses, home leave travel expenses, and residence in a hardship area. Excludes from an employee's gross income any lodging furnished the employee by an employer in a camp which meets specified requirements. Repeals the current provisions relating to deductions for certain expenses of living abroad. Provides that the foreign bad debt loss deduction shall not exceed the greater of 15 percent of the taxpayer's taxable income from exports, or two percent of the taxpayer's export receivables outstanding at the close of the taxable year. Provides that the amount of bad debt losses that may be added to a bad debt reserve shall not exceed five percent of the taxpayer's export receivables outstanding as of the close of the taxable year. Permits the amortization, based on a period of 60 months, of: (1) foreign market studies; (2) foreign marketing expenses; and (3) foreign patents. Permits an income tax deduction for currency fluctuation losses on export credit which have not been repaid by the end of the taxable year. Authorizes the Secretary of the Treasury to extend the six-month deadline for exempting exports from the manufacturer's excise tax for an additional 12 months if it is determined, after consultation with the Secretary of State, that exports were delayed because of war, civil unrest, or similar adverse conditions in a foreign nation. Amends the Foreign Trade Zones Act to authorize the Secretary of Commerce to approve the duty-free entry of machinery, materials, and fuels to be used for the production of goods in a foreign trade zone if such goods are not subsequently entered into U.S. customs territory. Sets forth requirements before applications for such treatment will be approved. Makes such approval valid for six years. Requires the Foreign Trade Zones Board to include in its annual report to Congress a summary of activities and proposals to increase the use of foreign trade zones to expand U.S. exports. Makes banking organizations which have invested in an export trading company eligible for treatment as domestic international sales corporations (DISC). Includes the gross receipts from the export of services produced in the United States and from export trade services as qualified export receipts, in the case of a DISC which is an export trading company. Directs the Secretary of Commerce, with the Secretary of the Treasury, to develop and distribute information concerning the utilization of the DISC provisions. Makes export trading companies eligible for Subchapter S treatment if the shareholders of such companies are otherwise small business corporations. Exempts such companies from restrictions on the amount of foreign income they can receive and still be eligible for Subchapter S tax treatment. Title IV: Antitrust - Amends the Webb-Pomerene Act to exempt the export trade, export trade activities, and methods of operation of certified export trade associations and export trading companies from the antitrust laws. Delays the effectiveness of any certificate upon the notification of the Secretary of Commerce by the Attorney General or the Federal Trade Commission (FTC) of disagreement with the decision to issue a certificate. Sets forth the procedure to be followed by any association, company, or export trading company seeking certification under this Act and by the Secretary in issuing such certificates. Permits automatic certification of existing associations. Provides for appeal of the Secretary's denial of certification. Authorizes the Attorney General or the FTC to bring an action to invalidate a certification. Requires the Secretary, in consultation with the Attorney General and the FTC, to publish guidelines for determining whether an association or export trading company will meet the certification requirements. Requires certified associations and export trading companies to submit annual reports to the Secretary. Directs the Secretary to establish within the Department of Commerce an Office of Export Trade. Requires such Office to report annually to the appropriate congressional committees on all East-West trade transactions requiring validated licenses and on the role of U.S. export trading companies in such trade. Grants a temporary exemption from the Sherman Act antitrust provisions for existing associations. Requires, with specified exceptions, that all applications for certification be kept confidential. Authorizes the Secretary to require an association or trading company to modify its operation to be consistent with international obligations of the United States. Directs the President to appoint, with the Senate's advice and consent, a task force, seven years after enactment, to examine the effect of this Act and to make recommendations. Directs the Attorney General to study whether: (1) U.S. business conduct to expand exports conflicts with basic antitrust principles; and (2) a more liberal enforcement policy for overseas activities would impede implementation of the antitrust laws. Requires the Attorney General to identify such conduct which would not warrant prosecution under the antitrust laws. Sets forth the procedures for describing such permissible conduct and disclosing such descriptions. Authorizes the Secretary of Commerce to intervene in such suits and to provide legal assistance to exporters. Prohibits prosecution under the antitrust laws of exporters who: (1) have notified the Attorney General of their intention to engage in such designated conduct; or (2) receive an approval, or no objection, from the Attorney General concerning proposed transactions. Requires the Attorney General and the Secretary of Commerce to report to Congress concerning implementation of this section. Authorizes appropriations for the Attorney General and the Secretary of Commerce for carrying out the simplification of antitrust procedures. Title V: Amendments to Other Laws That Hinder Exports - Changes the name to the Business Practices and Records Act. Amends the Securities Exchange Act of 1934 to require securities issuers to maintain an internal accounting system that provides reasonable assurance that specified accountability and accuracy goals are met. Establishes the degree of previous knowledge necessary to find liability for violations of the accounting standards. Requires only good faith efforts at ensuring compliance by issuers who hold 50 percent or less of the equity of domestic or foreign firms. Transfers from the Security and Exchange Commission to the Department of Justice jurisdiction to enforce the antibribery prohibitions of the FCPA with respect to issuers. Changes the jurisdictional basis of the current corrupt practices prohibition to prohibit bribery "with respect to activities in interstate or foreign commerce" (currently, the basis is use of the mails or interstate commerce "in furtherance" of bribery). Prohibits payments or promises made "directly or indirectly" by a domestic concern to a foreign official if they are made to influence a foreign official's act or induce such an official to violate a legal duty. Prohibits domestic concerns from directing or authorizing such payments. Exempts from such prohibition any payment to a foreign official to facilitate or expedite performance of official duties which is customary in the country where made. Enumerates additional exemptions, including items of value given in return for hospitality or in token of regard and esteem, and marketing or demonstration expenses pertaining to the business presentation. Empowers the Attorney General to undertake any civil investigation which is necessary to enforce the Act. Makes the provision in the Business Practices and Records Act the exclusive Federal law authorizing Federal proceedings against a domestic concern for using the mails or any instrumentality of interstate commerce to violate such Act. Requires an interagency task force to issue guidelines specifying permissible conduct and arrangements associated with common types of export sales arrangements and business contracts and precautionary procedures creating a rebuttable presumption of compliance. Provides for the establishment of a Business Practices and Records Act Review Procedure to answer specific inquiries concerning enforcement of such Act. Requires the Attorney General to issue opinions regarding compliance. Makes such opinions final and binding on all parties if the conduct does not involve a violation. Requires annual reports to Congress by: (1) the Attorney General concerning actions taken pursuant to such Act; and (2) the Chairman of the Securities and Exchange Commission concerning the reporting requirements. Expresses the sense of the Congress that the President should negotiate agreements establishing standards of conduct for international business practices, a resolution procedure, and rates of commissions. Directs the President to report to Congress concerning the progress of such negotiations. Requires Congress to review the Business Practices and Records Act after receiving the President's report. Directs the President to report to Congress on the legal and practical consequences of specific action that the United States could take under existing law to: (1) promote international cooperation to prevent bribery of foreign officials, candidates, or parties in third countries; and (2) encourage persons or businesses operating in foreign countries to refrain from bribing foreign officials, candidates, or parties to the disadvantage of U. S. industry. Requires the report to contain recommendations for new legislation and an analysis of the potential effect on U. S. interests of the corruption of foreign officials and political leaders. Requires an export competitiveness impact statement from any issuing authority taking significant action which could affect adversely U.S. exports or the international competitive position of the United States and its exporters. Expresses the sense of Congress that export paperwork must be reduced to encourage export sales. Requires all agencies to minimize paperwork and reporting requirements. Title VI: Export Awareness and Export Promotion Programs - Export Trading Company Act of 1981 - Directs the Secretary of Commerce to promote export trading companies by providing information and by facilitating contacts between producers of exportable goods and export trading companies. Authorizes any banking organization to invest specified amounts in export trading companies upon notifying, but without obtaining the prior approval of, the appropriate Federal banking agency, if such investment does not cause an export trading company to become a subsidiary of such organization. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations with prior approval of the appropriate Federal banking agency. Requires prior notification of such agencies in specified circumstances. Sets forth further limitations on export trading companies and investments by banking organizations. Specifies factors to be taken into consideration by the banking agencies. Permits such agencies to impose conditions in approving applications to invest in export trading companies. Requires such agencies to report to the appropriate Congressional committees with their recommendations concerning implementation of this Act, related changes in U.S. law, and effects of ownership of U.S. banks by foreign banking organizations. Provides for judicial review of denial orders in the appropriate U.S. Court of Appeals. Sets forth the grounds for disapproval. Provides for remand for further consideration by the banking agency. Directs the Economic Development Administration and the Small Business Administration to give special weight to export-related benefits when considering applications for loans and guarantees by export trading companies. Authorizes appropriations for fiscal years 1982 through 1986 for such initial investments and operating expenses. Directs the Export-Import Bank of the United States to provide loan guarantees for expansion to export trading companies or exporters to be secured by accounts receivable or inventories when adequate financing is not otherwise available. Directs the Board of Directors to try to insure that a major share of such guarantees promotes exports from small, medium-size, and minority businesses or agricultural concerns. Amends the Small Business Act to empower the Small Business Administration to extend credit to finance export assistance. Sets a maximum of $750,000 which may be committed to any borrower from the business loan and investment revolving fund. Directs the Secretary of Commerce to enter into cooperative agreements with industrial corporations to develop foreign markets for their products. Requires the Secretary to direct specific market research for the products involved in foreign markets upon entering such agreements. Permits interested industrial corporations to submit a proposal incorporating specific marketing actions to the Secretary. Authorizes the Secretary to enter into a marketing agreement after approving any such proposal. Requires repayment of the Federal share of the costs by the entity entering into such an agreement. Authorizes appropriations to carry out such agreements. Directs each Federal agency and U.S. representative to any international organization to: (1) identify programs affecting the export of U.S. firms' services; (2) make available information concerning such programs; (3) establish programs to publicize export-related programs for services; and (4) modify those programs with an adverse effect on the export of services. Makes the Secretary of Commerce responsible for coordinating such programs. Directs the Department of Treasury to report to Congress concerning the feasibility of extending DISC treatment to the export of services. Title VII: Agricultural Exports - Amends the Commodity Credit Corporation Charter Act to establish the Agricultural Export Credit Revolving Fund to be available for: (1) the export of, or aid in the development of foreign markets for, agricultural commodities; and (2) loans for the acquisition of facilities in foreign countries to improve the countries' capacities to handle agri-commodities exported from the United States. Authorizes appropriations for such Fund for fiscal years 1982 through 1984. Directs the Secretary of Agriculture to report to Congress annually concerning the export credit sales program. Abolishes such fund effective October 1, 1984. Amends the Export-Import Bank Act of 1945 to require the ratio of credit extended by the Export-Import Bank for agricultural exports in comparison with the total amount extended be at least equivalent to the value of agricultural exports in comparison with total value of exports. Specifies exceptions to this requirement. Title VIII: International Agreements - Expresses the sense of Congress that: (1) the multilateral trade agreement be strongly implemented; and (2) the efforts must continue to secure a freer world trading environment. Directs the Secretary of Agriculture to implement a special export subsidy program for agricultural commodities to neutralize the effects of foreign export subsidy programs. Specifies the circumstances required before such program may be implemented. Expresses the sense of Congress that the President should enter into negotiations for international codes of: (1) official export financing; (2) business conduct; (3) reciprocity of antitrust enforcement; and (4) fair trade in services. Requires the President to report to Congress concerning the progress of such negotiations. Title IX: Government Support of Export Goals - Overseas Private Investment Corporation Act of 1981 - Establishes the Overseas Private Investment Corporation (OPIC) as an independent agency. Sets forth the duties of OPIC. Provides for the capital of OPIC to be paid in through the appropriation process and through transfer from OPIC's earned income. Sets forth the structure of OPIC with a Board of Directors, a President of the Corporation, an Executive Vice President of the Corporation, other officers and staff, and consultants. Authorizes OPIC to issue insurance to eligible investors covering new or existing investments protecting against specified risks. Authorizes OPIC to make arrangements with foreign governments or multilateral organizations for sharing liabilities. Limits the insurance that may be issued to a single investor. Authorizes OPIC to issue guarantees of loans and other investments. Sets forth limitations on such guarantees. Authorizes OPIC to make direct loans to privately owned or mixed publicly and privately owned firms for projects sponsored by or significantly involving small businesses or cooperatives. Limits the circumstances under which OPIC may acquire stock in any other corporation. Authorizes OPIC to initiate and support the identification, assessment, and promotion of private investment opportunities, with specified exceptions. Authorizes OPIC to administer special projects to provide private technical, professional, or managerial assistance in the development of human resources, skills, technology, capital savings, and intermediate financial institutions and cooperatives. Authorizes OPIC to engage in other insurance, reinsurance, and risk sharing activities with other insurance companies, financial institutions, persons, or groups. Limits the amount of reinsurance of liabilities which OPIC may issue. Limits the amount of maximum contingent liability pursuant to insurance or guarantees issued under this Act which may be outstanding at any one time. Establishes the: (1) Direct Investment Fund as a revolving fund to be available for direct investments; and (2) Insurance Reserve and Guaranty Reserve to be available for discharging liabilities. Authorizes appropriations to the investment and guaranty fund in specified circumstances. Authorizes OPIC to issue obligations in specified circumstances in order to discharge liabilities. Requires that all revenues and income transferred to or earned by OPIC be available to carry out OPIC's purposes. Directs OPIC to determine that suitable arrangements exist for protecting OPIC's interests in connection with any insurance, guaranty, or reinsurance issued under this Act. Pledges the full faith and credit of the United States for the full payment and performance of previous obligations. Sets forth conditions with respect to insurance, guaranty, and reinsurance coverage under this Act concerning fees, time limits, fraud, and settlement of disputes. Sets forth administrative provisions and duties applicable to OPIC. Requires OPIC to undertake to broaden the participation of small business, cooperatives, and other small investors in the development of small private enterprise in less developed friendly countries or areas. Directs OPIC to report annually to Congress concerning its operations. Amends the Foreign Assistance Act of 1961 to define "eligible investor" in terms of this Act with respect to housing guarantees. Repeals provisions: (1) prohibiting the transfer of OPIC funds between accounts; (2) authorizing the President to deny assistance to any less developed country which fails to enter into an agreement to institute the investment guaranty program; and (3) establishing OPIC. Declares that nothing in this part shall be construed as terminating any of OPIC's statutory authority. Requires the President of OPIC to submit to the appropriate Congressional committees any necessary technical or conforming amendments. Declares that the potential for U.S. exports shall be a primary decisionmaking factor in considering which projects to include in U.S. foreign aid programs. Declares that the Office of Management and Budget should assure that adequate budget allocations are made available to carry out the programs prescribed in this Act. Declares that the Department of Justice should do what it can to facilitate procedures for exporters. Declares that the Small Business Administration should: (1) be aware of the benefits of export to small business development; and (2) use every opportunity to provide information and assistance to potential exporters. Declares that the U.S. ability to export coal, nuclear power fuels, and other energy materials in a reliable manner should be a key consideration. Directs congressional committees to include in their reports the effect of the bill or resolution on the international competitiveness of the United States. Creates a National Export Council to: (1) serve as a national advisory body on matters relating to United States export trade; (2) act as a liaison among the communities represented by its membership; and (3) provide advice on Federal plans and actions that affect export promotion and development policies which have an impact on those communities represented by its membership. Requires the Council to report annually to the President and the Congress on its activities. Authorizes the Secretary of Commerce to appoint commercial ministers, counselors, and attaches (with the rank and privileges of other ministers, counselors, and attaches in U.S. embassies and consulates) to: (1) provide trade and commercial service; (2) engage in the promotion of U.S. exports; (3) file semiannual reports to the Secretary on market, industrial, and commodity conditions in their districts and on the implementation of multilateral and bilateral trade agreements; and (4) maintain current data on the commercial standing and capacity of foreign firms within their districts. Provides for domestic assignment, office logistics, allowances, and benefits of such ministers, counselors, and attaches. Directs the Comptroller General to report to Congress with any recommendations concerning: (1) the organization of international trading and financing programs in the United States; (2) the effectiveness of foreign export promotion programs; and (3) the trade activities of specified Federal agencies. Expresses the sense of Congress that the appropriate congressional committees should review periodically the trade organization of the U.S. Government.
United States · United States Congress · 8 April 1981
Amends the Congressional Budget and Impoundment Control Act of 1974 to require a two-thirds vote for the adoption of any concurrent resolution on the budget for a fiscal year which revises the concurrent resolution on the budget most recently agreed to for such fiscal year, if the appropriate levels set forth in such revision exceeds the appropriate levels set forth in the first concurrent resolution on the budget for such fiscal year.
United States · United States Congress · 8 April 1981
Farm Labor Contractor Registration Act Amendments of 1981 - Amends the Farm Labor Contractor Registration Act of 1963 to exempt from the definition of "farm labor contractor": (1) any person supplying migrant workers for employment in his own agricultural operation (currently the employer must personally engage in such hiring); (2) bona fide employees who perform such activity for their employer (currently full-time or regular employees who engage only incidentally in such activity); (3) any person who supplies students or other persons whose principal occupation is nonagricultural to perform certain seed industry work (currently only applies to corn and sorghum with a maximum four-week work period); and (4) nonprofit or cooperative associations of farmers, growers, or ranchers and their employees. Defines the terms "for such person's own operation" and "bona fide employee" for purposes of such Act. Redefines "migrant worker" to mean a seasonal or temporary agricultural worker who can not normally return to his or her domicile after each working day (currently anyone employed in agriculture).
United States · United States Congress · 8 April 1981
Amends the Internal Revenue Code to reduce from 70 percent to 50 percent the maximum rate of income tax for individuals. Requires separate computation of personal service income and nonpersonal service (unearned) income, applying each category to the lowest tax rates initially. Prohibits separate computations in the case of any taxpayer with more than $10,000 in tax preference items.
United States · United States Congress · 8 April 1981
Proclaims Raoul Wallenberg an honorary citizen of the United States. Requests the President to ascertain his whereabouts from the Soviet Union and to secure his freedom.
United States · United States Congress · 7 April 1981
Small Business Innovation Research Act of 1981 - Amends the Small Business Act to direct the Small Business Administration (SBA) to: (1) maintain an information program to provide small businesses an opportunity to participate in Federal small business innovation research (SBIR) programs; (2) coordinate a schedule for release of agency SBIR solicitations and prepare a master release schedule; (3) monitor SBIR programs within Federal agencies; and (4) report annually to the Congressional Small Business Committees on the SBIR programs. Requires each Federal agency with a research and development budget in excess of $100,000,000 in fiscal year 1982 or any subsequent fiscal year to spend a specified percentage of its budget in connection with an SBIR program. Requires each Federal agency with a research and development budget in excess of $20,000,000 for fiscal year 1982 or any subsequent fiscal year to establish specific goals for funding research and development agreements with small businesses. Directs each Federal agency with an SBIR program to report annually to the SBA the number of awards over $10,000 in amount made under the SBIR program and to concerns other than small business concerns. Directs the Administrator of the Office of Federal Procurement Policy, in conjunction with the SBA, to promulgate regulations for the conduct of the SBIR programs. States that this Act does not authorize the appropriation of funds.
United States · United States Congress · 7 April 1981
Reorganization Act of 1981 - Extends (for four years) the authority of the President to reorganize the Executive branch. Lengthens the period during which the President may amend or withdraw a reorganization plan submitted to Congress. Lengthens the period within which the Committee on Government Operations of the House or the Committee on Governmental Affairs of the Senate must report a resolution approving the plan or be discharged from consideration thereof. Directs the President to include, with each reorganization plan transmitted to Congress, a draft of any Executive order, Presidential directive, or other administrative action required in such reorganization. States that a reorganization plan may not rename an existing Executive department or create an independent agency. Revises the procedure for the Congressional veto of a reorganization plan. Declares that such a plan shall be effective if: (1) each House of Congress adopts a resolution approving the plan within 90 days of continuous session of Congress after the plan is transmitted to Congress; or (2) upon the expiration of such period, unless either House has rejected such a resolution.
United States · United States Congress · 7 April 1981
Voting Rights Act Amendments of 1981 - Amends the Voting Rights Act of 1965 to extend from August 6, 1982, to August 6, 1992: (1) the time period during which jurisdictions covered by the triggering mechanism must not have used a test or device to deny the right to vote on account of race in order to be released from coverage; and (2) the time period during which changes in voting laws must be precleared with the Federal Government. Extends the bilingual election requirements from August 6, 1985, to August 6, 1992. Restates the prohibition against denying the right to vote based on race to prohibit any State from imposing voting practices "in a manner which results in a denial or abridgement" of the right to vote.
United States · United States Congress · 7 April 1981
American Innovation and Employee Stock Ownership Act of 1981 - Amends the Internal Revenue Code to reduce the rate of tax on the net capital gains of individuals and corporations which realize gain from the sale of qualified securities issued by small business corporations. Defines "qualified securities" as stock or securities issued by corporations which meet specified requirements relating to size, employee ownership, and research and development expenditures.
United States · United States Congress · 7 April 1981
Requires annual (currently semiannual) cost of living adjustments in civil service annuities to be effective March 1. Requires the first increase in an annuity to equal one-twelfth of the applicable percentage change in the price index multiplied by the number of months the annuity was payable before the effective date of the increase.
United States · United States Congress · 7 April 1981
Amends the Federal Grant and Cooperative Agreement Act of 1977 to renew the authority of the Office of Management and Budget to exempt individual transactions and programs from the requirements of such Act.
United States · United States Congress · 2 April 1981
Financial Integrity Act of 1981 - Amends the Accounting and Auditing Act of 1950 to require the head of each executive agency to prepare and transmit to the President an annual report on the adequacy of the agency's systems of internal accounting and administrative control. Requires the report to include detailed plans for correcting any inadequacy. Directs the Comptroller General of the United States to: (1) establish guidelines for evaluating such systems; and (2) define internal auditing and administrative controls to prevent waste or misuse of agency funds or property and to assure accountability of assets.
United States · United States Congress · 2 April 1981
Potato Research and Promotion Act of 1981 - Amends the Potato Research and Promotion Act to revise the National Potato Promotion Board's assessment rate beginning with fiscal year 1982. States that the failure of potato producers to approve an amendment to any research and promotion plan shall not invalidate the existing plan.
United States · United States Congress · 2 April 1981
Commends James S. Brady, Press Secretary to the President, and expresses the desire of the Senate for his speedy recovery from a gunshot wound inflicted during an assassination attempt on the life of the President of the United States.
United States · United States Congress · 2 April 1981
Commends Secret Service Agents Timothy McCarthy and Jerry Parr and Metropolitan Police Officer Thomas Delahanty for their performance in the line of duty with respect to the assassination attempt on the life of the President of the United States.
United States · United States Congress · 31 March 1981
Federal Pay Comparability Reform Act of 1981 - Declares it to be the policy of Congress that: (1) General Schedule pay rates and benefits be comparable to 94 percent of the pay and benefits of non-Federal employees for the same levels of work; and (2) General Schedule pay rates shall vary between pay areas in accordance with non- Federal pay rates. Directs the President to adjust General Schedule pay in accordance with such policies. Requires the pay rates for statutory pay systems other than the General Schedule to be comparable to the national average General Schedule rates. Requires the pay agent's annual report to the President to compare General Schedule pay and Federal employee benefits rather than pay alone with the pay and benefits of non-Federal employees as determined by surveys to be conducted by the Bureau of Labor Statistics (BLS). Directs the President to designate General Schedule pay areas and establish locality rates of pay by raising, lowering, or maintaining the national average pay rates for each area according to the relationship between Federal and non-Federal pay in such area as determined by the BLS. Requires that the President be assisted by the pay agent and advised by the Advisory Committee on Federal Pay. Authorizes the President to establish special rates of pay for one or more grades of occupations in certain areas where the Government is having difficulty in recruiting or retaining well-qualified individuals for such positions. Directs the President to review such pay rates annually and to modify or abolish such rates if appropriate. Eliminates the salary table for General Schedule pay rates. Requires General Schedule pay rates to be established for each pay area. Repeals cost of living allowances for Federal employees stationed outside the continental United States or in Alaska. Renames the prevailing rate system the Federal wage system. Requires the pay and benefits of appropriated fund Federal wage employees to be comparable to 94 percent of the prevailing wages, together with the benefits, of non-Federal employees in the local wage area. Directs the Office of Personnel Management to: (1) schedule full-scale wage surveys every three years (currently every two years) and interim surveys annually; (2) require lead agencies to survey all non- Federal wages in a wage area rather than only private sector wages, to consider Federal and non-Federal benefits in establishing wage rates for Federal wage employees, and to provide for pay differentials for shift work; and (3) develop and effectuate a plan for adjusting wage rates for Federal wage employees to correspond to adjustments in the General Schedule and other statutory pay systems pursuant to any alternative plan submitted by the President. Repeals provisions providing for steps and step increases for each grade of a regular wage schedule and night differentials. Authorizes the President to modify provisions of Federal law relating to annual and sick leave and other paid leave of Federal employees to: (1) make Federal leave programs comparable with non-Federal programs; (2) provide greater flexibility to employees; or (3) improve the administration of Federal leave programs. Directs the President to report any such modification to Congress and to publish it in the Federal Register and the Code of Federal Regulations. Requires the President to determine the amount the Government will contribute each year toward an employee's life and health insurance premiums. Maintains the current minimum amounts of such contributions. Requires that pay rates under the General Schedule, other statutory pay systems, and the Federal Wage System be increased by at least two percent for each of the next five years. Prohibits any reduction in an existing employee benefit program for five years after enactment of this Act. Directs the President to increase military pay and allowances on October 1 of each year by the average percentage increase in non-Federal pay for the 12 months preceding the latest BLS survey. Authorizes the President to propose an alternative adjustment by September 1 if appropriate because of national security considerations, a national emergency, or economic conditions. Declares that such alternative plan shall become effective on October 1 unless a joint resolution disapproving it passes into law within 30 days of continuous session after it is transmitted to Congress. Directs the President to implement all of the provisions of this Act within three years after its enactment.
United States · United States Congress · 27 March 1981
Constitutional Amendment - Requires Congress to adopt for each year a budget which sets forth the total receipts and outlays of the United States. Prohibits the adoption of any budget in which outlays exceed total receipts, unless three-fifths of each House of Congress approve such budget. Prohibits Congress from passing and the President from signing any bill which would cause the total outlays for any year to exceed the total expenditures in the budget for such year. Prohibits the retention of receipts in any year for use of the Treasury in an amount which exceeds as a proportion of the national income, the amount retained for the prior year, unless a bill directed at approving a specific increase in such proportion has been passed by a majority of each House. Permits Congress to waive the provisions of this Act with respect to any single year in which a declaration of war is in effect.
United States · United States Congress · 26 March 1981
Federal Assistance Improvement Act of 1981 - Title I: Consolidation of Federal Assistance Programs - Directs the President: (1) prior to each regular session of Congress, to examine the various Federal assistance programs to determine if consolidation of any such programs is necessary or desirable; and (2) upon making such a determination, to transmit to Congress a plan for consolidating functionally related programs. Requires that such a plan: (1) designate a single agency to administer the plan and the consolidated programs; (2) specify the terms and conditions under which such programs will be administered; (3) expire no later than four years after its enactment; and (4) include a message describing the difference between the terms and conditions of the programs before and after consolidation, and assessing the plan's effects on the costs of implementing the programs. Directs the President to transmit a report on the administration of this title to Congress within 60 days of each session of Congress. Prohibits a consolidation plan from: (1) consolidating programs which are not functionally related; (2) designating as an administering agency any agency that did not administer one of the programs to be consolidated; (3) expanding the number or groups of persons eligible for assistance by consolidating programs; or (4) excluding any purposes or goals of consolidated programs from activities authorized by the plan. Terminates the consolidation authority under this title five years after it becomes effective. Declares that a consolidation plan shall become effective if Congress adopts a joint resolution approving it within 90 days after it is transmitted to Congress and the President approves that resolution. Sets forth House and Senate procedures for considering such a resolution. Authorizes the aggregation of appropriations for programs consolidated under such a plan. Title II: Financial Management and Audit of Federal Assistance Programs - Requires the Director of the Office of Management and Budget (OMB): (1) in consultation with the Comptroller General of the United States, to establish and maintain standard procedures to be used by all Federal agencies for implementing such procedures and for the administration, accounting, and financial auditing of Federal assistance to State and local governments, nonprofit organizations, and federally recognized Indian tribes; and (2) to prescribe directives to agencies for coordinating Federal, State, and local audits of assistance programs. Requires a single, independent, biennial, compliance and financial audit of State and local government entities, nonprofit organizations, and subgrantees which receive Federal assistance. Requires such an audit of an organization which receives less than $100,000 a year to be conducted quinquennially. Establishes the responsibility of State and local governments and nonprofit organizations to utilize independent auditors to conduct financial audits of Federal assistance recipients within their jurisdictions in accordance with generally accepted auditing standards. Makes the Federal Government responsible for: (1) using the quality review process to assure the proper performance of such audits; and (2) conducting audits which are not financial and compliance audits. Directs the OMB to establish methods of payment to independent auditors for the expense of performing all or any part of an audit of a Federal assistance program. Title III: Administration of Generally Applicable Federal Assistance Requirements - Amends the Intergovernmental Cooperation Act of 1968. Defines the term "generally applicable requirement" as any requirement with which a recipient of Federal assistance has to comply in order to achieve national policy objectives and which applies to programs administered by two or more agencies. Requires the President, within 120 days after enactment of this title, to designate Federal agencies to: (1) coordinate the preparation of national policy assistance standards for one or more generally applicable requirements in various subject areas; and (2) report on the implementation of such requirements. Directs each designated agency to develop such standards within one year of such designation and in consultation with Federal agencies and assistance recipients. Requires that such standards minimize the paperwork burden and compliance costs imposed on assistance recipients, include standard compliance procedures, and list the assistance programs to which they apply. Directs each agency which administers a program to which such standards apply to implement such standards within 120 days after they are published by a designated agency. Directs each designated agency to coordinate the implementation of such standards and to insure that such standards are revised only on the first day of each fiscal year. Requires the head of each assistance agency to designate a senior official to: (1) coordinate such agency's actions to comply with such standards; and (2) ensure active agency participation in the development and implementation of such standards. Authorizes such agency head to certify and accept State and local government requirements that contain the same requirements as national policy assistance standards. Directs assistance agencies to aid recipients in complying with such standards. Directs a designated agency to report to the President concerning any impediments to the development of such standards. Permits the President to direct the agency to prepare a proposed bill to remove such impediments. Allows the President to submit to Congress proposed legislation exempting certain programs from inappropriate generally applicable requirements. Authorizes the President to delegate responsibility for monitoring the overall implementation of this title to the Director of OMB or the head of any other Federal agency. Requires the President to: (1) establish a procedure for resolving disputes between designated agencies, assistance agencies, and assistance recipients over national policy assistance standards; and (2) publish a catalog of all such standards for generally applicable requirements in effect. Specifies circumstances under which implementation of a standard may be suspended. Authorizes the President or other official responsible for monitoring implementation of this title to suspend the implementation of a standard upon determining that its implementation will lead to serious, unanticipated consequences. Title IV: Joint Funding Simplification Act Amendments - Amends the Joint Funding Simplification Act of 1974 to require that Federal agencies take currently authorized actions pertaining to the joint funding of projects by various Federal programs. Provides for the establishment of integrated funding processes (currently joint management funds) for the administration of joint funds to such projects. Title V: Integrated Assistance - Amends the Intergovernmental Cooperation Act of 1968 to authorize each State or local government applying for Federal assistance to submit an integrated program plan representing an integrated approach to implementing several Federal assistance programs in the same functional category, and to provide for the administration of such plan by one agency. Directs the head of the agency administering one or more of the covered assistance programs to establish requirements governing approval of such a plan, including requirements designed to: (1) increase the efficiency of such programs; (2) reduce the rigidity, duplication of effort, and unnecessary expenditures of assistance programs; and (3) permit State and local governments to redirect part of the resources in the covered programs to other priorities that cross existing statutory assistance categories. Authorizes assistance applicants to propose transferring up to 20 percent of the funds of any one covered program among other covered programs. Requires an agency head to complete the review of a proposed plan in a timely fashion and to notify an applicant that its plan has been disapproved within 90 days of submission or the plan shall be considered to be approved. Declares that an approved plan shall be effective for only the fiscal year in which the application for funding is approved. Requires States to consult with local governments when developing integrated program plans. Terminates the authority provided under this title on September 30, 1986. Requires the Director of OMB to report to Congress by September 30, 1985, concerning the implementation of integrated program plans and recommendations on continuing integrated assistance. Title VI: Miscellaneous - Amends the Intergovernmental Cooperation Act of 1968 to direct the agency head administering an assistance program to waive requirements that a single or specific State or local agency or procedure be utilized to administer assistance under certain conditions. Repeals all requirements of Federal assistance programs intended to insure that Federal assistance does not reduce or replace relevant State or local government expenditures. Limits Congress to prescribing maintenance of effort requirements which: (1) require State or local governments to maintain the average expenditures for the aided program during the preceding two fiscal years or the Federal assistance will be reduced proportionate to the reduction in such expenditures; and (2) permit the administering agency head to waive the requirement if it would cause extraordinary fiscal hardship. Prohibits any Federal law from diminishing or superceding practices established by State law for expending Federal funds, designating a State agency to administer Federal assistance, or reviewing State plans and applications for such assistance.
United States · United States Congress · 19 March 1981
Requests the President to designate the week of May 10 to May 16, 1981, as "CARE Week" in observance of the thirty-fifth anniversary of CARE (the Cooperative for American Relief Everywhere, Inc.).
United States · United States Congress · 19 March 1981
Requires an embargo on the export of any goods or services to the Soviet Union during any period in which a grain embargo is in effect against such country.
United States · United States Congress · 17 March 1981
Amends the Internal Revenue Code to revise the definition of "return information." Defines as "nonreturn information" identifying information: (1) collected by the Secretary of the Treasury with respect to a taxpayer or return relating to liability for any penalty or other imposition or offense; and (2) any part of any written determination or any background file document closed to public inspection. Allows disclosure of return information to an officer or employee of the Department of Justice for use in preparing any administrative, judicial, or grand jury proceeding involving the enforcement of a specific Federal criminal statute (but not involving tax administration) or in an investigation which may result in such a proceeding. Authorizes such disclosure only by ex parte order of a Federal district court judge or magistrate. Sets forth grounds for the granting of such order. Permits further disclosure by the Government attorney who has authorized the application for the ex parte order to Government personnel required to assist in a criminal investigation. Requires the Secretary to disclose nonreturn information (other than nonreturn information which would identify a confidential informant or seriously impair a tax investigation), upon written request of the Head or the Inspector General of a Federal agency or the Attorney General or his designee, to such officers and employees as are directly engaged in, and solely for use in or preparation for, any administrative, judicial, or grand jury proceeding involving the enforcement of a specific Federal criminal statute (but not involving tax administration) or in an investigation which may result in such a proceeding. Permits further disclosure of such information so disclosed to such other Government personnel as the Federal official deems necessary to assist him during a criminal investigation or in preparation for the proceeding involved. Directs the Secretary to disclose, as soon as practicable, nonreturn information (other than information which would identify a confidential informant or seriously impair a tax investigation) which may constitute evidence of a violation of Federal criminal laws to the extent necessary to apprise the head of the appropriate Federal agency responsible for enforcing such laws. Authorizes the Secretary, upon recommendation to the Department of Justice for prosecution for violation of the Internal Revenue Code, to disclose to the Department return information reviewed, developed, or obtained during a tax investigation which constitutes evidence of a violation of Federal criminal laws. Allows information disclosed pursuant to this Act to be entered into evidence in a proceeding not involving tax administration or in an ancillary proceeding to which the United States is a party. Limits such disclosure to the extent required by applicable discovery requirements. Prohibits admission of such information into evidence if the Secretary determines that it would identify a confidential informant or seriously impair a tax investigation, unless a court otherwise directs disclosure. Permits the Secretary or his designee, in specified emergency circumstances, to disclose information to the extent necessary to apprise the appropriate Federal agency of such emergency. Permits the Internal Revenue Service to assist the Department of Justice or any other Federal agency in joint tax and nontax investigations of criminal matters which may involve tax violations. Allows a Federal official authorized to apply to a district court judge or magistrate for an ex parte order to disclose to the appropriate State attorney general or district attorney any return or nonreturn information in his possession which is relevant to the violation of a State felony statute. Authorizes the disclosure of return or nonreturn information to a competent authority of a foreign government which has a convention relating to the exchange of tax information with the United States. Provides a procedure for the disclosure of return or nonreturn information sought pursuant to a treaty on mutual assistance in criminal matters for use in an investigation or proceeding unrelated to the tax laws of the foreign country. Adds as an affirmative defense to a prosecution for the unauthorized disclosure of return or nonreturn information that such disclosure resulted from a good faith, but erroneous, interpretation of this Act. Permits a taxpayer aggrieved by the knowing or negligent disclosure by a Federal employee of return or nonreturn information in violation of this Act to bring a civil action for damages exclusively against the particular Federal agency.
United States · United States Congress · 12 March 1981
Business Accounting and Foreign Trade Simplification Act - Changes the name of the Foreign Corrupt Practices Act of 1977 (FCPA) to the Business Practices and Records Act. Amends the Securities Exchange Act of 1934 to require securities issuers to maintain an internal accounting system that provides reasonable assurance that specified accountability and accuracy goals are met. Establishes the degree of previous knowledge necessary to find liability for violations of the accounting standards. Requires only good faith efforts at ensuring compliance by issuers who hold 50 percent or less of the equity of domestic or foreign firms. Transfers from the Security and Exchange Commission to the Department of Justice jurisdiction to enforce the antibribery prohibitions of the FCPA with respect to issuers. Changes the jurisdictional basis of the current corrupt practices prohibition to prohibit bribery "with respect to activities in interstate or foreign commerce" (currently, the basis is use of the mails or interstate commerce "in furtherance" of bribery). Prohibits payments or promises made "directly or indirectly" by a domestic concern to a foreign official in order to obtain business. Prohibits such payments that are made to influence a foreign official's act or induce such an official to violate a legal duty. Prohibits domestic concerns from directing or authorizing such payments. Exempts from such prohibition any payment to a foreign official to facilitate or expedite performance of official duties and which is customary in the country where made. Enumerates additional exemptions, including items of value given in return for hospitality or in token of regard and esteem, and marketing or demonstration expenses pertaining to the business presentation. Empowers the Attorney General to undertake any civil investigation which is necessary to enforce the Act. Makes the provision in the Business Practices and Records Act the exclusive Federal law authorizing Federal proceedings against a domestic concern for using the mails or any instrumentality of interstate commerce to violate such Act. Requires an interagency task force to issue guidelines specifying: (1) permissible conduct and arrangements associated with common types of export sales arrangements; and (2) business contracts and precautionary procedures which would create a rebuttable presumption of compliance. Provides for the establishment of a Business Practices and Records Act Review Procedure to answer specific inquiries concerning enforcement of such Act. Requires the Attorney General to issue opinions regarding compliance. Makes such opinions final and binding on all parties if the conduct does not involve a violation. Requires annual reports to Congress by: (1) the Attorney General concerning actions taken pursuant to such Act; and (2) the Chairman of the Securities and Exchange Commission concerning the reporting requirements. Expresses the sense of the Congress that the President should negotiate agreements establishing standards of conduct for international business practices, a resolution procedure, and rates of commissions. Directs the President to report to Congress concerning the progress of such negotiations. Requires Congress to review the Business Practices and Records Act after receiving the President's report. Directs the President to report to Congress on the legal and practical consequences of specific action that the United States could take under existing law to: (1) promote international cooperation to prevent bribery of foreign officials, candidates, or parties in third countries; and (2) encourage persons or businesses operating in foreign countries to refrain from bribing foreign officials, candidates, or parties to the disadvantage of U. S. industry. Requires the report to contain recommendations for new legislation and an analysis of the potential effect on U. S. interests of the corruption of foreign officials and political leaders.
United States · United States Congress · 12 March 1981
Amends the Commodity Credit Corporation Charter Act to establish the Agricultural Export Credit Revolving Fund in the Treasury to assist in exporting agricultural products (including the construction or acquisition of overseas facilities). Terminates such fund effective October 1, 1984. Authorizes specified appropriations for fiscal years 1982 through 1984. Requires the Secretary of Agriculture to report annually to Congress respecting the Corporation's export credit sales program.
United States · United States Congress · 12 March 1981
Amends the Internal Revenue Code to exclude from gross income interest or dividends earned on savings deposits which are used by the deposit institutions for residential mortgage lending purposes.
United States · United States Congress · 10 March 1981
Economic Recovery Tax Act of 1981 - Title I: Individual Tax Rate Cuts - Amends the Internal Revenue Code to reduce individual and estate and trust income tax rates for 1981, 1982, 1983, and 1984, lowering the maximum rate to 50 percent in 1984. Repeals the 50 percent maximum tax rate on personal service income. Reduces the alternative minimum tax for noncorporate taxpayers. Title II: Incentives for Plant, Equipment, and Real Property - Amends the Internal Revenue Code to revise the method for determining useful lives of business assets for purposes of computing allowable depreciation deductions. Replaces the asset depreciation range (ADR) method with a schedule of capital cost recovery periods for three classes of business property. Establishes cost recovery periods for the following classes of business property: (1) Ten-year property, including owner-used buildings and their structural components and certain public utility property; (2) five-year property, including tangible property, and (3) three-year property, including automobiles, light-duty trucks, and certain tangible property used in connection with research and experimentation. Excludes from the category of recovery property: (1) property placed in service before January 1, 1981; (2) certain property eligible for amortization; and (3) certain depreciable real property. Requires the recapture of depreciation amounts and investment tax credit amounts applicable to assets which are sold or otherwise disposed of prior to the expiration of the capital cost recovery period. Revises the treatment of progress expenditure property with respect to the investment tax credit and the allowance for depreciation. Includes as recovery property, property which would have been depreciated using the retirement-replacement-betterment method. Provides special rules for recovery property predominantly used outside of the United States. Establishes definite useful lives for certain types of real property, (e.g., buildings, low-income housing, owner-occupied industrial and commercial buildings) which are not subject to change by the Internal Revenue Service upon audit. Allows current depreciation of any qualified progress expenditure property not yet placed in service. Revises the applicable percentage for determination of the investment tax credit to make eligible for such credit: (1) 100 percent of the basis of ten-year or five-year recovery property; and (2) 60 percent of the basis of three-year recovery property. Revises the progress expenditure rules to eliminate the useful life requirement for depreciable property being constructed by or for a taxpayer for use in trade or business (qualified progress expenditure property) and to apply to such property the revised percentages for determining the investment tax credit under this Act. Revises rules for the recapture of tax benefits upon the disposition of property eligible for the investment tax credit. Prescribes recapture percentages for each of the three classes of recovery property. Limits the amount of the investment tax credit to the amount that the taxpayer has at risk. Disqualifies capital cost recovery property from the allowance for first year depreciation. Repeals the retirement-replacement- betterment methods of depreciation allowed for certain types of property. Specifies that such property shall be depreciated using a ratable method. Requires the recapture as ordinary income of excess depreciation from recovery property which is subsequently sold or exchanged. Exempts accelerated depreciation on real property with a shortened audit-proof life and recovery property from classification as an item of tax preference for purposes of computing the minimum tax. Sets forth rules for treatment of the depreciation allowance for any recovery property under real property with a shortened audit-proof life in computing the earnings and profits of a corporation. Extends the carryover period for the net operating loss deduction, the investment tax credit, the work incentive program credit, and the new employee credit. Sets forth a method of computing the recovery allowance for recovery property and certain real property in the case of certain corporate acquisitions.
United States · United States Congress · 26 February 1981
Expresses the sense of Congress that Congress shall work its will and take final action no later than May 31, 1981, on the economic recovery proposals which President Reagan presented to the Congress on February 18, 1981.
United States · United States Congress · 24 February 1981
Tuition Tax Relief Act of 1981 - Amends the Internal Revenue Code to allow a refundable income tax credit for 50 percent of the educational expenses paid for the elementary, secondary, college, or vocational education of the taxpayer or the taxpayer's spouse or dependents. Sets forth maximum dollar amounts allowable as a credit. Excludes from eligibility for the credit educational expenses for: (1) elementary and secondary education at a privately operated institution of a State educational agency, other than an institution which offers education for the handicapped as a substitute to regular education; (2) part-time study; and (3) graduate study. Requires the individual for whom the tuition tax credit is allowed by this Act to be a full-time student or a half-time student during any four months of the calendar year. Excludes from the definition of "educational expenses" any amounts paid for books, supplies, and equipment for courses of instruction, meals, lodging, transportation, similar personal expenses, and education below the first-grade level. Forbids any construction of this Act as granting the Government additional authority to examine the books or activities of any church school. Requires that any amount received by the taxpayer as a tuition tax credit be disregarded for purposes of determining the eligibility of the taxpayer for Federal, State, or local educational assistance. Specifies that the granting of a tax credit to a student due to his enrollment in any educational institution shall not be considered as Federal assistance to such institution.
United States · United States Congress · 24 February 1981
Revises the congressional budget in order to: (1) reduce budget authority by $10.7 billion, and outlays by $4,8 billion, in fiscal year 1981; (2) reduce budget authority by $61.3 billion, and oulays by $41.4 billion, in fiscal year 1982; and (3) reduce budget authority by $88.4 billion, and outlays by $79.7 billion, in fiscal year 1983.
United States · United States Congress · 24 February 1981
Expresses the sense of Congress that agricultural resources are of strategic importance to the United States' future and calling for Federal cooperation with State and local governments and assistance to persons engaged in agriculture.
![Official portrait of Sen. Roth Jr., William V. [R-DE]](https://www.congress.gov/img/member/r000460_200.jpg)