United States · United States Congress · 3 June 1980
Amends the Internal Revenue Code to increase the earned income exclusion for United States citizens working abroad, who are bona fide residents of a foreign country, from an annual rate of $20,000 to: (1) $50,000; or (2) $65,000, if such persons have been working abroad for three years. 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. Reduces from 17 to 11 months the residency requirement for such exclusion. Waives such requirement if the Secretary of the Treasury determines that such citizens who would otherwise qualify for the exclusion were forced to leave a foreign country before they had resided 11 consecutive months because of civil unrest, war, or other adverse conditions precluding the normal conduct of business. Reduces from 17 to 11 months the foreign residence requirement with respect to the deduction for certain housing expenses of living abroad. Revises the formula for determining the base housing amount with regard to such deduction to make it 16 percent of the salary of a GS-14, step 1. Repeals similar deductions for cost-of-living differential, schooling expenses, home leave travel expenses, and residence in a hardship area. 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. Amends the Internal Revenue Code, with respect to the six-month deadline for exempting exports from the manufacturer's excise tax, to grant discretion to the Secretary of the Treasury to extend such deadline for an additional 11 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 the Treasury to approve the duty-free entry of machinery, materials, and fuel to be used or consumed solely in the manufacture or production of goods in a foreign trade zone only if such goods are not subsequently entered into the customs territory of the United States. Specifies criteria for approval of applications for such duty-exemptions. Requires the Foreign Trade Zones Board to include in its annual report to Congress a summary of its activities and programs in each zone which are intended to increase the use of such zones to expand United States exports.
United States · United States Congress · 2 June 1980
Amends the Internal Revenue Code to provide for the deductibility of employer contributions to a deferred compensation plan of employees who are nonresident aliens.
United States · United States Congress · 29 May 1980
National Export Policy Act of 1980 - 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 direct the Export-Import Bank to adopt export finance programs comparable in structure to those extraordinary measures of official export credits offered by competing countries, until such financing is limited by international agreements. Requires the Bank to report annually to Congress as to whether any additional appropriations or any increases in its commitment authority or ceiling levels are necessary to carry out this Act. States that this Act shall not take effect until six months after enactment, unless the President defers the effective date for an additional six months. Declares it to be the policy of the Congress that the Export-Import Bank of the United States should facilitate, particularly in the presence of foreign officially-supported export credit competition, exports to countries: (1) having insufficient access to international credit facilities; (2) demonstrating reasonable economic progress; and (3) offering adequate formal assurances of repayment (currently, must offer sufficient likelihood of repayment). Increases the aggregate amount of loans and contractual liability of guarantees and insurance which may be outstanding at any one time. Requires such activities to be carried out through the Export Expansion Facility. Provides for the capitalization of such Facility. Establishes staggered, ten-year terms of office for the Bank directors. Declares that the House and Senate Appropriations Committees should 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 United States citizens working abroad, who are bona fide residents of a foreign country, from an annual rate of $20,000 to: (1) $50,000; or (2) $65,000, 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. Waives the residency requirements to qualify for such exclusion for those required to leave a foreign country because of civil unrest, war, or similar adverse conditions precluding the normal conduct of business. Reduces from 17 to 11 months the foreign residency requirement with respect to the deduction for certain housing expenses of living abroad. Revises the formula for determining the base housing amount with regard to such deduction to make it 16 percent of the salary of a GS-14, step 1. Repeals similar deductions for cost-of-living differential, schooling expenses, home leave travel expenses, and residence in a hardship area. 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. 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 to promote export trade associations and trading companies. Provides for automatic certification of existing associations. Requires that all applications for certification be kept confidential with specified exceptions. 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. Title V: Amendments to Other Laws That Hinder Exports - Amends the Foreign Corrupt Practices Act of 1977 to change the name of such Act to the Business Practices and Records Act. Amends the Securities Exchange Act of 1934 to require issuers of securities to keep their books and maintain a system of internal accounting controls in accordance with generally accepted accounting principles. Makes issuers liable for knowingly falsifying any books or for the intentionally wrongful maintenance or circumvention of the system of internal accounting controls. Requires only good faith efforts by issuers holding 50 percent or less of the equity capital to use their influence to cause transactions and dispositions of assets to be carried out consistent with such provisions. Repeals the provisions specifying prohibited foreign corrupt practices by issuers. Amends the Business Practices and Records Act to include issuers within the provisions specifying prohibited foreign corrupt practices by domestic concerns. Permits items of value to be given to foreigners in specified circumstances, including courtesy items, demonstration expenses, and payments lawful under the laws of the country of the intended recipient. Directs the Attorney General 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 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. 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 1980 - Directs the Secretary of Commerce to promote export trading companies and facilitate contracts between producers of exportable goods and export trading companies. Authorizes any banking organization to invest up to 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 the 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 concerning implementation of this Act and any recommendations. 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. Directs the Export-Import Bank of the United States to provide loan guarantees to export trading companies or exporters to be secured by accounts receivable or inventories when adequate financing is not otherwise available and such guarantees will facilitate expansion of exports. Small Business Export Expansion Act of 1980 - Amends the Small Business Act to authorize the Administrator of the Small Business Administration (SBA) to permit participating lending institutions to take actions on behalf of the Administrator with respect to deferred participation loans. Empowers the SBA either directly or in cooperation with lending institutions, to extend credit for export purposes to enable small business concerns to develop foreign markets. Limits the extension of such credit to periods of 18 months or less. Sets a maximum of $750,000 which may be committed to any borrower from the business loan and investment revolving fund. Establishes within the Administration an Office of International Trade to promote sales opportunities for small business goods and services abroad. Requires such Office to: (1) provide small businesses with access to current and complete export information; (2) encourage greater small business participation in trade fairs, shows, missions, and other domestic and overseas export development activities of the Department of Commerce; and (3) assign full-time export development specialists to each Administration regional office. Directs the Administrator, after consultation with specified agencies, to establish an export promotion center in each of two regional offices of the Administration where field offices of the Department of Commerce and the Internal Revenue Service exist. Requires each such center to serve as a one- stop information center on Federal Government export assistance, financing programs available to small business, and other provisions of law governing exporting for small business. Requires: (1) a progress report on the implementation of such centers to the appropriate Congressional committees within six months of enactment of this Act; and (2) an evaluation, within two years after enactment, of the effectiveness of such centers in developing and expanding small business exports. Authorizes the Secretary of Commerce to make grants to qualified applicants to encourage the development and implementation of small business international marketing programs. Sets forth eligibility requirements for applicants. Prohibits the use of any Federal funds to directly underwrite any small business participation in foreign trade missions abroad. Requires each small business international marketing program to: (1) have a full-time staff director to manage program activities; (2) have access to export specialists to counsel and assist small business clients; and (3) establish an advisory board. Directs the Secretary to require, as a condition to any grant, that an additional amount equal to twice the amount of such grant be provided from sources other than the Federal Government. Directs the Secretary to develop a plan to evaluate such programs to: (1) determine the impact of such programs on the small businesses assisted; (2) determine the amount of export sales generated by such businesses; and (3) make recommendations concerning continuation and/or expansion of the program. Requires the establishment of at least one small business international program within each region of the Department of Commerce. Directs the Secretary of Commerce, through the International Trade Administration, to maintain a central clearinghouse for the collection, dissemination, and exchange of information between such programs. Directs the Secretary 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. International Education Programs Act - Amends the Higher Education Act of 1965 to direct the Secretary of Education to make grants to, and contracts with, institutions of higher education to pay the Federal share of the cost of programs designed to promote linkages between such institutions and the American business community engaged in international economic activities. Requires higher education institutions to apply for such grants and contracts. Limits the amount of Federal assistance. Provides for an advisory board to consider the grants made, or contracts entered into, and to review programs established under this section. 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. Directs the Secretary of Agriculture to report to Congress annually concerning the export credit sales program. Abolishes such fund effective October 1, 1983. 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. Requests the President to take action to establish an International Wheat Exporting Commission which would establish an annual minimum world market price for wheat and prescribe export quotas. Requires the President to keep Congress informed about the establishment of such Commission and to report annually once such Commission is established. 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 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 1980 - 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 United States 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 United States 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. Stipulates that nothing in this part shall be construed as terminating any of OPIC's statutory authority. Requires the President 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. Requires the Director of the International Development Cooperation Agency (IDCA) to transfer the functions of the Office of Reimbursable Development from the Agency for International Development to an independent functional status within the IDCA. 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 make an annual report 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 services; (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 · 20 May 1980
Amends the Internal Revenue Code to allow a deduction for cash and other personal property contributions to a savings account created or organized exclusively for the purpose of paying the educational expenses of the taxpayer or the taxpayer's child. Limits the amount of such deduction to $1,000 per year, adjusted for inflation. Limits the duration of eligibility for such deduction to calendar years prior to the account beneficiary's 21st birthday, or prior to the beneficiary's enrollment as a full-time student at an eligible educational institution of higher learning, whichever occurs earlier. Excludes distributions from such an account from the gross income of the payee so long as such distributions are used to defray the beneficiary's tuition, fees, books and supplies, and reasonable living expenses. Specifies sanctions for the use of account funds for other than such educational purposes. Treats qualified distributions as income to the beneficiary for the taxable year in which the beneficiary attains age 25, and for each of the following nine years, in successive apportionments equal to ten percent of the total amount of such distributions. Allows a deduction for cash and other personal property contributions to a savings account created or organized for the benefit of the taxpayer (or the taxpayer and spouse if married) for the exclusive purpose of purchasing the first dwelling purchased by such individual as a principal residence. Limits the maximum annual deduction to $1,500 ($3,000 in the case of married individuals filing jointly), with a maximum lifetime deduction of $15,000 ($30,000 in the case of married individuals filing jointly). Provides for annual inflation adjustment of such amounts. Excludes distributions from such account from gross income so long as they are used exclusively for the purchase of a first principal dwelling. Provides for recapture of such distribution upon a subsequent sale of such first dwelling if another house is not purchased with the proceeds. Requires reduction of the $100,000 exclusion from gross income of proceeds from the sale of a principal residence by a taxpayer 55 years of age or older if such residence had been purchased with distributions from a tax-exempt housing savings account. Limits the amount of such reduction to the amount of any such distribution excluded from gross income.
United States · United States Congress · 20 May 1980
Authorizes and requests the President to designate the week beginning October 5, 1980, as "National Port Week." Requires the Secretary of Commerce to report to Congress on the conditions of U.S. public ports.
United States · United States Congress · 15 May 1980
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to prohibit the payment of disability insurance benefits to: (1) any individual for any month during which such individual is an inmate of a penal institution after being convicted of a crime or a facility for the criminally insane or other psychiatric facility after having been found (a) not guilty of a crime by reason of insanity or (b) mentally incompetent to stand trial; and (2) any individual otherwise entitled to benefits on the basis of the wages and income of such inmate for the same period.
United States · United States Congress · 15 May 1980
Title I: Export Trading Companies - Export Trading Company Act of 1980 - Directs the Secretary of Commerce to promote export trading companies and facilitate contacts between producers of exportable goods and export trading companies. Authorizes any banking organization to invest up to 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 the 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 concerning implementation of this Act and any recommendations. 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. Directs the Export-Import Bank of the United States to provide loan guarantees to export trading companies or exporters to be secured by accounts receivable or inventories when adequate financing is not otherwise available and such guarantees will facilitate expansion of exports. Title II: Export Trade Associations - Export Trade Association Act of 1980 - 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. 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 to promote export trade associations and trading companies. Provides for automatic certification of existing associations. Requires that all applications for certification be kept confidential with specified exceptions. 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. Title III: Taxation of Export Trading Companies - Amends the Internal Revenue Code of 1954 to make 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. Amends the Internal Revenue Code of 1954 to make 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.
United States · United States Congress · 12 May 1980
Expresses the sense of the Senate that, during the leadership transition in Yugoslavia, the President should: (1) make clear U.S. opposition to Soviet attempts to violate or subvert Yugoslav independence; and (2) encourage other governments to announce publicly their continued support for Yugoslav independence.
United States · United States Congress · 6 May 1980
Declares that it is the sense of the Congress that the enactment of a withholding tax on interest and dividend payments would be detrimental to the economic well-being of the United States.
United States · United States Congress · 5 May 1980
Expresses the sense of the Senate that, during the leadership transition in Yugoslavia, the President should: (1) make clear U.S. opposition to Soviet attempts to violate or subvert Yugoslav independence; and (2) encourage other governments to announce publicly their continued support for Yugoslav independence.
United States · United States Congress · 1 May 1980
Extends the condolences of the Senate to the families of the eight American servicemen who lost their lives during the mission to rescue the hostages in Iran. Declares the sense of the Senate that the President order the American flag to be flown at half-mast on all government grounds from May 4 through May 11, 1980, as a mark of respect for such servicemen.
United States · United States Congress · 28 April 1980
Expresses the gratitude and commendation of the Senate to the military personnel who participated in the rescue attempt of the American hostages in Iran. Extends the condolences of the Senate to the families of those who sacrificed their lives in such attempt.
United States · United States Congress · 16 April 1980
Expresses the sense of the Senate that the President should: (1) request the Soviet Union to exchange scientific data regarding the outbreak of pulmonary anthrax near Sverdlovsk as provided for by the convention prohibiting bacteriological (biological) and toxin weapons; or (2) take appropriate international procedures or lodge a complaint with the United Nations Security Council, if the Soviet Union fails to make available such data.
United States · United States Congress · 18 March 1980
Rescinds $229,000,000 in appropriations provided for the purchase of furniture by Federal agencies and departments in fiscal year 1980. Requires the Director of the Office of Management and Budget to allocate such rescission among the agencies and departments and to report to the Committees on Appropriations of the House of Representatives and the Senate concerning the allocation. Rescinds $15,000,000 in appropriations made to the Federal Buildings Fund for the rental of space in fiscal year 1980.
United States · United States Congress · 4 March 1980
Export Trading Company Act of 1980 - Directs the Secretary of Commerce, through the Assistant Secretary of Commerce for Trade Promotion, to promote export trading companies and facilitate contacts between producers of exportable goods and export trading companies. Authorizes any banking organization to invest up to specified amounts in export trading companies without obtaining the prior approval of the appropriate Federal banking agency. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations after: (1) filing an application to make such investments with the appropriate Federal banking agency; and (2) proposed investment is not denied by such agency. Provides for judicial review of denial orders in the appropriate U.S. Court of Appeals. Sets forth the grounds for disapproval. Prohibits those banking organizations, and their affiliates, with an ownership interest in any export trading company from extending credit to such companies or customers of such companies on more favorable terms than those afforded to similar borrowers. Authorizes the Export-Import Bank of the United States to provide loans and guarantees to export trading companies for the financing of exports and export trade services in specified circumstances. Limits the amount of loans and guarantees to any one company and in the aggregate. Declares that such authority shall expire five years from enactment. Authorizes the Bank to provide loan guarantees to such companies or exporters to be secured by accounts receivable or inventories in specified circumstances. Permits State and local governments to participate in export trading companies. Declares that such companies shall be eligible for the Export-Import Bank's loans and guarantees under this Act. Amends the Webb-Pomerene Act to exempt export trading companies solely with respect to their export trade activities from antitrust restrictions. Amends the Internal Revenue Code of 1954 to make 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. Amends the Internal Revenue Code of 1954 to make 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.
United States · United States Congress · 4 March 1980
Expresses the sense of the Senate that the first concurrent resolution on the budget for fiscal year 1981 reported by the Committee on the Budget shall limit budget outlays to 21 per cent of the gross national product.
United States · United States Congress · 26 February 1980
Congratulates the members of the 1980 U.S. Winter Olympic team, its coaches and officials for a job well done. Recognizes the International Olympic Committee, the U.S. Olympic Committee, the Lake Placid Olympic Organizing Committee and the people of the Lake Placid area for their successful efforts in organizing and producing the XIII Winter Olympic Games.
United States · United States Congress · 21 February 1980
Designates February 26, 1980, as a national day of prayer, meditation, and unity if the hostages being held in Iran are not released by February 25, 1980.
United States · United States Congress · 20 February 1980
International Education Programs Act - Amends the Higher Education Act of 1965 (HEA) to establish a new title VI of such Act: "International Education Programs." Establishes International and Foreign Studies Programs under HEA. Authorizes the Secretary of Education to make grants to or contracts with institutions of higher education for establishing, strengthening, and operating graduate and undergraduate centers for modern foreign language studies, foreign area studies, international studies, and the international aspects of professional and other fields of study. Authorizes grants to such centers to maintain important library collections. Authorizes stipends to individuals undergoing advanced training at such centers. Authorizes grants for advanced international studies centers and for undergraduate international studies and foreign language programs to institutions of higher education, combinations of such institutions, and private nonprofit agencies and organizations. Authorizes the Secretary to conduct research and studies to contribute to such programs and the International Understanding programs established by this Act under the Elementary and Secondary Education Act of 1965 (ESEA). Directs the Secretary to publish an annual report on such matters. Directs the Secretary to make excellence the criterion of such grants and, consistent with such criterion, to seek an equitable distribution of such funds throughout the Nation. Directs the Secretary to convene meetings of an advisory board on the conduct of such HEA programs and the ESEA International Understanding programs. Authorizes appropriations to carry out such HEA International and Foreign Language programs for fiscal years 1981 through 1985. Establishes Business and International Education Programs under HEA. Directs the Secretary to make grants to and contracts with institutions of higher education to pay the Federal share of the cost of programs designed to promote linkages between such institutions and the American business community engaged in international economic activities. Limits the Federal share to 50 percent of the cost of such program for each fiscal year. Directs the Secretary to: (1) convene meetings of an advisory board on the conduct of such programs; and (2) publish an annual report on such matters. Authorizes appropriations to carry out the HEA Business and International Education Programs for fiscal years 1981 through 1985. Amends the Elementary and Secondary Education Act of 1965 (ESEA) to establish International Understanding programs under an "International Understanding Act." Authorizes the Secretary to stimulate, by grant or contract, educational programs to increase the understanding of students and the public in the U.S. about the cultures and actions of other nations in order to better evaluate the international and domestic impact of major national policies. Allows such assistance to be made: (1) to any public or private agency or organization; (2) for inservice training and for compilation and dissemination of information and resources, but not for equipment acquisition or facility remodeling; (3) for programs at all levels, including community, adult, and continuing education; and (4) for critically important foreign language instruction by local educational agencies. Authorizes appropriations for the ESEA International Understanding programs for fiscal years 1981 through 1985. Repeals the foreign studies and language development program of the National Defense Education Act of 1958 and the grant programs for advanced and undergraduate international studies of the International Education Act of 1966.
United States · United States Congress · 18 February 1980
Amends the Internal Revenue Code to exclude from gross income unemployment compensation payments (otherwise includible under the Revenue Act of 1978) which were made in 1979 after legal challenges to a 1973 work stoppage failed.
United States · United States Congress · 8 February 1980
Amends the Internal Revenue Code to increase the earned income exclusion for United States citizens working abroad, who are bona fide residents of a foreign country, from an annual rate of $20,000 to: (1) $50,000; or (2) $65,000, if such persons have been working abroad for more than two years. 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. Allows an exclusion from gross income for housing allowances or housing expenses which exceed 20 percent of earned income (determined without regard to such allowance). Repeals current provisions of the Code allowing tax deductions to such persons for certain living expenses abroad.
United States · United States Congress · 6 February 1980
Establishes an Independent Investigating Commission on Ethics to investigate allegations of improper conduct by Members of Congress arising out of the investigation by the Federal Bureau of Investigation known as "ABSCAM". Terminates the Commission one year after the initial appointment of all five members. Grants the Commission all the powers and authority of the Senate Select Committee on Ethics or the House Committee on Standards of Official Conduct when investigating the conduct of a Member of the Senate or a Member of the House of Representatives, respectively. Directs the Commission to report its findings to the appropriate Committee. Declares that the Commission shall not make findings of fact.
United States · United States Congress · 4 February 1980
Directs the Secretary of Health, Education, and Welfare to halt immediately implementation of those regulations relating to clinical laboratory personnel published October 12, 1979, and published as corrected October 23, 1979.
United States · United States Congress · 30 January 1980
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 non-personal service (unearned) income, applying each category to the lowest tax rates initially. Prohibits separate computations in the case of any individual with more than $10,000 in tax-preference.
United States · United States Congress · 20 December 1979
Expresses the Senate's support for efforts to win the freedom of the hostages in Iran. Calls upon all nations to join in cooperative efforts to restrict relations with Iran. Declares that: (1) any trial or public exploitation of the hostages would be viewed as added provocation; and (2) the American people will not be diverted from their determination that the hostages be freed.
United States · United States Congress · 15 December 1979
Calls upon all followers of Islam to prevail upon their brethren to: (1) release the American hostages held in Iran; and (2) until they are released, permit them to worship regularly in accordance with their religious faiths and meet with clergy of their faiths.
United States · United States Congress · 13 December 1979
Expresses the sense of the Senate that: (1) the Government has failed to comply with the Energy Policy and Conservation Act of 1975; (2) the Government should reduce its gasoline consumption by 15 percent in 1980 and its energy consumption by 20 percent by 1985; and (3) the President should adopt the recommendations in the General Accounting Office report of December 12, 1979, to implement a comprehensive Federal energy management plan.
United States · United States Congress · 11 December 1979
Declares that the Senate: (1) supports the efforts of the Secretary of State to secure the cooperation of other governments in securing the release of the hostages in Iran; (2) appreciates those actions already taken by foreign governments to secure the release of the hostages; (3) deplores companies seeking to profit by American economic measures against Iran; and (4) urges Japan to take affirmative measures to support American economic actions against Iran.
United States · United States Congress · 7 December 1979
Joint Export Marketing Assistance Act of 1979 - Directs the Secretary of Commerce to establish a program to promote export marketing activities for domestic industry. Authorizes the Secretary to enter into cooperative agreements with industrial corporations or groups of noncompeting corporations with limited exporting experience to develop foreign markets for their products. Requires the Secretary to direct specified market research for such projects to measure opportunities, determine the best methods, and indicate the prospects for success. Requires interested corporations to submit a proposal on the basis of such research incorporating specific marketing actions and a timetable for such actions for approval by the Secretary. Authorizes the Secretary to enter into agreements with those entities submitting approved proposals to share marketing costs for up to three years. Limits the Federal share of participation to 50 percent. Requires repayment of the Federal share within five years of the expiration of Federal participation.
United States · United States Congress · 7 December 1979
Expresses the sense of the Senate that the Government of the United Kingdom merits commendation for reducing tensions in Zimbabwe-Rhodesia and establishing a basis for peace in the region.
United States · United States Congress · 6 December 1979
Amends the Revenue Act of 1978 to provide that the credit or refund permitted with respect to the investment tax credit for single purpose agricultural or horticultural structures shall be allowed without regard to the statute of limitations or any rule of law (including res judicata) which may apply to taxable years to which the credit applies.
United States · United States Congress · 6 December 1979
Amends the Congressional Budget Act of 1974 to prohibit the adoption of any concurrent resolution on the budget which sets forth a level of total budget outlays in excess of 21 percent of the gross national product in fiscal year 1981, or 20 percent of the gross national product for each fiscal year thereafter. Establishes procedures to enable the President and the Congress to suspend such limitations on the level of budget outlays.
United States · United States Congress · 30 November 1979
Removes the jurisdiction of the Supreme Court of the United States and the Federal district courts over any case arising out of any State statute, ordinance, rule or regulation, which relates to the exercise of free religious expression or the saying of voluntary prayers in public schools and public buildings.
United States · United States Congress · 28 November 1979
Expresses the sense of the Senate that the American people and their representatives are united in their determination and efforts to achieve the immediate, safe, and unconditional release of all U.S. personnel. Calls upon the U.N. Security Council to take all necessary measures to secure the release of all U.S. personnel held hostage in Iran.
United States · United States Congress · 9 November 1979
Provides for the establishment of a national cemetery on the Delmarva Peninsula, and authorizes the acquisition of such lands in Delaware, Maryland, or Virginia.
United States · United States Congress · 8 November 1979
Authorizes the Vietnam Veterans Memorial Fund, Incorporated, to erect a memorial on public grounds in West Potomac Park in the District of Columbia in honor and recognition of the men and women of the armed forces who served in the Vietnam war.
United States · United States Congress · 1 November 1979
Chrysler Corporation Loan Guarantee Act of 1979 - Authorizes the Secretary of the Treasury to enter into commitments to guarantee loans made to Chrysler Corporation if the Secretary determines that: (1) such a commitment is needed to enable Chrysler to continue to operate and the failure to meet this need would adversely and seriously affect the employment or economic situation in the United States or any of its regions, or the degree of competition in the automobile industry; (2) Chrysler has submitted a feasible operating plan for its 1980 fiscal year and the next three fiscal years demonstrating its ability to continue as a going concern in the automobile business without additional Federal assistance after December 31, 1983; and (3) Chrysler has submitted a satisfactory financial plan which includes at least $1,500,000,000 in funds that are not guaranteed by the Federal Government. Requires a portion of such nonfederal funds to be in the form of commitments and concessions contributed after October 17, 1979, by financial institutions, Chrysler's creditors, shareholders, and employees, and management, State and local governments, labor unions, and other entities with an economic stake in Chrysler. Prohibits the amount of outstanding guarantees actually issued by the Secretary from ever proportionately exceeding the amount of such nonfederal funding obtained and not repaid. Permits Chrysler to obtain capital and cash in order to meet the required level of nonfederal funding through a merger, the sale of securities, assets, or other transactions consummated after October 17, 1979. Requires the Secretary to receive assurances as to the availability and adequacy of all financing contemplated by the financing plan before entering any commitments to guarantee loans. Stipulates that the Secretary may issue guarantees only pursuant to commitments. Requires such commitments to provide that guarantees will only be issued if the Secretary determines that: (1) Chrysler would otherwise be unable to obtain credit upon reasonable terms sufficient to meet the needs of its operating plan; (2) there is a reasonable prospect of repayment; (3) the loan bears interest at a reasonable rate determined by the Secretary not less than the current average yield on Treasury securities of comparable maturity; (4) Chrysler continues to comply with an operating and financial plan or a revision which is feasible and satisfactory to the Secretary; (5) Chrysler has agreed to deliver rolling four-year operating and financial plans to the Secretary and an annual analysis of deviations in performance from the targets set forth in such plans; and (6) Chrysler has complied with the requirements set forth in the terms of any commitment. Renders any determination made by the Secretary under this Act conclusive upon the issuance of a loan guarantee. States that the validity of any guarantee shall be incontestable except for fraud or material misrepresentation on the part of the holder thereof. Authorizes the Secretary to determine the form of all guarantees issued under this Act. Directs the Secretary to collect, at least once a year, a guarantee fee of at least one-half percent per annum on the outstanding guaranteed loan principal computed daily. Authorizes the Secretary to negotiate appropriate additional terms to compensate the United States for the risk it assumes in issuing loan guarantees. Requires that all guaranteed loans mature no later then December 31, 1990. Prohibits waiver or amendment of the terms of any guaranteed loan without the Secretary's consent. Requires each commitment to contain appropriate protective provisions. Directs the Secretary to require security for the loans guaranteed under this Act, subordination of existing creditors, and that Chrysler pay no dividends on any common or preferred stock. Permits the Secretary to waive such requirements if necessary to enable Chrysler to obtain financing and if, despite such waiver, there is a reasonable prospect of repayment. Directs the Secretary to require a change in Chrysler's management if the Secretary determines that the inability of Chrysler to obtain credit without guarantees is a result of the failure of management to exercise reasonable business prudence. Authorizes the Secretary to inspect the records of Chrysler or any of its affiliates for which an application for a loan guarantee has been submitted. Authorizes the General Accounting Office to conduct a detailed audit of Chrysler and its affiliates. Directs the Office to report the results of such audit to the Secretary and the Congress. Prohibits the outstanding principal amount of loans guaranteed by the Secretary from exceeding $1,500,000,000 at any one time. Directs the Secretary to enforce the rights of the United States as a guarantor under this Act. Entitles the Secretary to recover any payments made pursuant to a guarantee from Chrysler, its affiliates, or any other liable person. Empowers the Secretary to utilize all available remedies in enforcing the rights of the United States and to bring actions in the United States district courts or any other appropriate court to enforce compliance with this Act or the terms of any agreement. Grants jurisdiction to such courts to hear such actions and to fashion appropriate remedies. Prohibits the Secretary from guaranteeing any tax-exempt security either directly or indirectly if the guarantee provides significant collateral for other tax-exempt obligations. Authorizes the Secretary to waive the priority of the United States if necessary to facilitate financing contemplated by the financing plan provided the Secretary determines that, despite such waiver, there is a reasonable prospect of repayment. Stipulates that such a waiver may not subordinate the claims of the United States to any other creditor. Directs the Secretary to submit a annual report to the Congress on activities conducted pursuant to this Act. Authorizes the appropriation of funds necessary to carry out the provisions of this Act beginning in fiscal year 1979 and remaining available without fiscal year limitation. Limits the authority of the Secretary to make guarantees to the extent provided in advance by appropriation Acts.
United States · United States Congress · 1 November 1979
Amends the Tariff Act of 1930 to revise the method for determining the foreign market value of merchandise from nonmarket economies (current terminology is "State-controlled"). Stipulates that such value be based on the costs, expenses, and profits of free-market producers of such merchandise most comparable to the nonmarket economy producers. Amends the Trade Act of 1974 to require the International Trade Commission to investigate, and the President to request investigation into, whether the domestic market is disrupted due to imports from or artificial pricing by nonmarket economy countries (currently Communist countries). Revises the relief available as a result of such disruption caused by artificial pricing to: (1) require the President to take the action recommended the Commission, unless Congress approves different action by the President; and (2) exempt such relief from specified restrictions.
United States · United States Congress · 30 October 1979
Recreational Boating Safety and Facilities Improvement Act of 1979 - Amends the Federal Boat Safety Act of 1971 to include in the definitions of the terms "United States" and "State" the Commonwealth of the Northern Marianas, the Trust Territory of the Pacific Islands, and any other territory or possession over which the United States has jurisdiction. Directs the Secretary of the Department in which the Coast Guard is operating to implement and administer a national recreational boating safety and facilities improvement program. Authorizes the Secretary to allocate funds to States for accepted State recreational boating safety and facilities improvement programs if sufficient State matching funds are available. Directs the Secretary to accept State programs that include: (1) an approved vessel numbering system; (2) a cooperative boating safety assistance program with the Coast Guard; (3) sufficient patrol to enforce applicable State laws; (4) boating safety education; (5) a State agency to implement or coordinate the program and report to the Secretary; and (6) facilities improvement. Sets forth formulas for the allocation of funds among the States. Establishes in the Treasury a National Recreational Boating Safety and Facilities Improvement Fund from which the Secretary may allocate funds for accepted State programs. Requires that revenues attributable to the taxes on special motor fuels and gasoline used in motorboats be covered into such Fund. Authorizes appropriations for such State programs of $30,000,000 for each of fiscal years 1981 through 1984. Amends the Highway Revenue Act of 1956 to direct the Secretary of the Treasury to transfer certain amounts from the taxes received from special motor fuels and gasoline used in motorboats to the National Recreational Boating Safety and Facilities Improvement Fund.
United States · United States Congress · 12 October 1979
Constitutional Amendment - Limits the term of office of a justice or judge of the United States to ten years during good behavior and permits a reappointment for a second term by the President with the advice and consent of the Senate. Applies such limitation to persons appointed after the date of ratification.
United States · United States Congress · 26 September 1979
Estate Tax Adjustment Act of 1979 - Amends the Internal Revenue Code to increase the unified credits against the estate and gift taxes from $47,000 to $70,700, with increased phase-in amounts for 1979 and 1980. Increases from $175,000 to $250,000 the minimum gross estate necessary to impose on the executor of a United States citizen or resident the duty to make an estate tax return.
United States · United States Congress · 24 September 1979
Energy Mobilization Board Act of 1979 - Establishes the Energy Mobilization Board to administer jointly with the Department of Energy a priority energy project program. Authorizes the Board to decide and administer all matters within the jurisdiction of the Board under this Act, and to take final action on any such matters, except as otherwise stated. Sets forth the power and authority of the Board, and stipulates that the Board shall not interfere with labor-management relations or take any actions which conflict with the terms of existing labor- management contracts. Directs the Board to periodically review its activities under this Act and report to the Congress on the functioning of the selection and designation process for priority energy projects, and other matters. Authorizes any person planning or proposing an energy project to apply to the Secretary of Energy for the selection of such project as a candidate priority energy project. Requires that such application identify all Federal, State, and local licensing or permitting actions necessary for approval and development of such project and to contain detailed information of the project's design, economics, and environmental impacts. Directs the Secretary to select from all pending applications for priority designation between eight and twenty-four candidate priority energy projects which are to be forwarded to the Board for further examination under the provisions of this Act. Sets forth criteria for the Secretary's use in selecting such projects. Requires the Secretary to adopt procedures necessary to assure applicants, affected agencies and interested members of the public of the opportunity to participate in the Selection process. Authorizes the Board to make the final designation of priority energy projects based on the stated criteria. Allows the Board to extend the deadlines for receiving public comments on such designation and the time for ruling on an application for designation if more time is required for the comment period or the application is incomplete. Exempts the determinations made by the Secretary and the Board in designating such projects and the promulgation or revision of Project Decision Schedules from the environmental impact provisions of the National Environmental Policy Act of 1969 (NEPA). Requires the appropriate Federal agency to determine whether any Federal action relating to a designated project will be a major Federal action within the meaning of NEPA. Authorizes any person aggrieved by such determination to commence a civil action seeking judicial review of that determination under the provisions of this Act. Authorizes the Board, in consultation with the Council on Environmental Quality and appropriate State and local agencies, to require the preparation of a single environmental impact statement to reflect the actions of any or all Federal agencies to satisfy their obligations under NEPA. Stipulates that such statement may substitute for any similar requirement of State or local law if required by the Board, so long as such statement includes all information required under such laws. Provides for the appointment of a lead agency to supervise the preparation of such statement and sets forth the duties of such agency. Requires the Secretary to encourage applicants for priority energy project designation to file applications as soon as possible in order to expedite any eventual action or decision. Requires specified Federal agencies to submit certain information to the Board critical to their consideration of such projects. Requires that the Board notify the Governor and other appropriate local officials or agencies of any State which would be significantly affected by the completion of such projects and request them to supply compilations of significant actions required by State and local governments and by the applicant before the project can be completed and a tentative schedule for completing such actions. Directs the Board to establish a Project Decision Schedule containing deadlines for all Federal, State, and local actions relating to a priority energy project. Requires that final agency action be completed no later than one year after the applicant's application for such actions is complete, unless otherwise required by existing statutory obligations. Provides that upon petition of any agency with authority governed by a Project Decision Schedule, or of the applicant or any other interested party, the Board may make a modification of such schedule. Authorizes the Board to make such modifications only upon the determination that continued adherence to the schedule would be impractical or not in the public interest, that such modification is consistent with other provisions in this Act, and that the agency or applicant, as the case may be, has exercised due diligence in attempting to comply with the schedule. Authorizes the Board to certify that agency review has been completed and all approvals on the schedule have been granted, performed, or are not found to be necessary, and that further judicial review is barred pursuant to this Act. Provides mechanisms for the enforcement of Project Decision Schedules by appropriate action in the specified Federal or State court. Requires the Board to monitor compliance by the applicant and the agencies to the Project Decision Schedule. Authorizes the Board to terminate the priority designation of a project if certain evidence of noncompliance exists. Exempts the granting or denying of a public comment period extension from judicial review except as may be required by the U.S. Constitution. Authorizes judicial review of the designation or termination of a priority energy project designation in accordance with the provisions of this Act. Prohibits a court from staying or enjoining such actions pending appeal or trial de novo. Sets time limits for filing appeals or petitions for review of actions taken pursuant to this Act and bars any challenges to such actions which are not in conformance with these provisions, except as otherwise provided for. Directs such courts to expedite and consolidate such review to the greatest extent practicable. Grants exclusive jurisdiction to the Supreme Court to review any judgment or order of the lower court pursuant to this Act and directs the Supreme Court to expedite such review to the greatest extent practicable. Prohibits trial de novo by the reviewing court of any action pursuant to this Act. Directs the Board to revise a project decision schedule as necessary in the event a decision is rendered remanding any case or controversy to an agency. Terminates the authority of the Board on September 30, 1985.
United States · United States Congress · 17 September 1979
Alternative Energy Source and Conservation Tax Incentive Act of 1979 - Amends the Internal Revenue Code to increase from 15 percent to 50 percent (not to exceed $2,000) the percentage of qualified energy conservation expenditures allowable as a residential energy credit against an individual's income tax. Eliminates the limitation that such qualified expenditures be made only with respect to the taxpayer's principal residence. Raises from $2,200 to $5,000 the maximum amount of qualified renewable energy source expenditures allowable as a residential energy tax credit. Qualifies the differential cost of renewable energy source property which is a structural component of a building as one such expenditure. Extends eligibility for the residential energy tax credit to: (1) a landlord for installation of alternative energy equipment on rental residential property; and (2) a builder for installation of such equipment in a house built for sale (reserving such builder the option to pass such credit through to the first purchaser). Applies such credit to lease payments on such equipment (so long as the lessor certifies that he has not taken the credit himself). Permits a homeowner to file an amended return for his previous taxable year and receive such credit against the previous year's taxes for eligible energy expenditures in his current taxable year. Extends the tax credit for photovoltaic systems to homeowners. Revises the eligibility for such credit of the costs of drilling geothermal wells (but only if no deduction is taken for intangible drilling and development costs). Extends coverage of the ten percent business investment tax credit to all solar and wind energy property, including structural modifications and components. Allows an additional 20 percent energy investment tax credit for solar, wind, and geothermal expenditures. Makes hydroelectric properties (other than dams) eligible for such additional 20 percent credit. Makes wind-powered mechanical energy eligible for both credits. Makes utilities and private enterprises eligible: (1) for the additional 20 percent credit for purchase and installation of all wind and solar equipment; and (2) for a further ten percent credit for purchase and installation of cogeneration equipment. Makes heat pumps (including water well heat pumps) eligible for the 15 percent residential conservation credit and the ten percent energy tax credit for business. Extends the expiration date for such credits through fiscal year 2000. Increases the current four cents per gallon to a 40 cents per gallon exemption from the Federal special fuels diesel and gasoline excise taxes for each gallon of alcohol sold in an alcohol-gasoline (gasohol) mixture, and extends the expiration date of such exemption through fiscal year 2000. Allows a credit against income tax for any amount in excess of the excise taxes refunded or credited pursuant to such exemption. Includes the amount of such income tax credit in gross income for the applicable year. Requires the Secretary of the Treasury's annual gasohol report to Congress to include: (1) a calculation of the need for continued gasohol incentives (and the appropriate level); and (2) a comparison of the cost of alcohols produced from corn, wheat, wood and other substances. Allows van pools operated by non-employers (third parties or owner-operators) to take the same ten percent investment tax credit currently available to employers only.
![Official portrait of Sen. Roth Jr., William V. [R-DE]](https://www.congress.gov/img/member/r000460_200.jpg)