United States · United States Congress · 28 February 1989
Amends the Appalachian Regional Development Act of 1965 to authorize appropriations for FY 1990 through 1994 for the Appalachian development highway system. Directs the Appalachian Regional Commission to allocate funds appropriated under this Act among the States within the Appalachian region according to a specified formula.
United States · United States Congress · 23 February 1989
Common Sense Budget Act of 1989 - Amends Federal law to require both the President and the Congress to draft a budget based on estimates of current fiscal year spending, proposing increases or decreases based on this level (rather than on an estimated baseline). Amends the Congressional Budget Act of 1974 to require the Congressional Budget Office to use such a current fiscal year baseline in its report to the congressional budget committees, projecting growth for entitlement and discretionary spending based on current fiscal year spending.
United States · United States Congress · 22 February 1989
Requires U.S. coins to be redesigned, at the discretion of the Secretary of the Treasury, over the next six years. Requires the reverse side of the first coin redesigned to commemorate the bicentennial of the U.S. Constitution for a two-year period. Provides that the design on the obverse side of U.S. coins shall contain the likenesses of those displayed on current coins and shall be considered for redesign. Requires any such obverse redesigns to conform to the inscription requirements of current law. Requires the Secretary, in selecting new designs, to consider specified constitutional concepts. Requires the designs to be selected by the Secretary upon consultation with the United States Commission of Fine Arts. Requires that any profits from the sale of uncirculated and proof sets of U.S. coins be deposited in the Treasury and used solely to reduce the national debt.
United States · United States Congress · 22 February 1989
Martin Luther King, Jr., Federal Holiday Commission Extension Act - Extends the termination date of the Martin Luther King, Jr. Federal Holiday Commission to April 20, 1994. Makes the term of Commission members one year, except for Coretta Scott King (life term) and members of the family surviving Martin Luther King, Jr. (at the discretion of the family). Replaces provisions requiring all expenditures of the Commission to be from donated funds with provisions authorizing appropriations for FY 1989 through 1993. Makes payment of expenses for Commission members and staff salary subject to the availability of funds.
United States · United States Congress · 22 February 1989
Financial Institutions Reform, Recovery and Enforcement Act of 1989 - Title I: Purpose - Specifies the purposes of this Act, including regulatory reform, the establishment of an independent insurance agency to provide deposit insurance, and the provision of improved supervision and enhanced enforcement powers. Title II: Federal Deposit Insurance Corporation Authorities and Responsibilities - Amends the Federal Deposit Insurance Act to authorize the Federal Deposit Insurance Corporation (FDIC) to insure deposits held at savings associations as well as commercial banks. Increases the membership of the FDIC's Board of Directors from three to five members. Specifies that the additional two members shall be the Chairman of the Federal Home Loan Bank System and a citizen appointed by the President, by and with the advice and consent of the Senate. Revises certain definitions for the purposes of the Federal Deposit Insurance Act. Specifies that the term "insured deposit" shall include any liability which constituted an "insured account" within the meaning of the National Housing Act prior to the enactment of this Act, provided certain conditions are met. Specifies that the Federal Home Loan Bank System (FHLBS) shall be considered the appropriate Federal banking agency in the case of a savings association or a savings and loan holding company. Includes within the definition of "savings association" any institution that was supervised by the Federal Savings and Loan Insurance Corporation (FSLIC) prior to the enactment of this Act, a Federal savings and loan association or Federal savings bank, or a building and loan, savings and loan, homestead association, or a cooperative bank organized and operated under State law, or a corporation that the FDIC considers to be operating substantially in the same manner as a savings and loan association. Provides that every FSLIC insured savings association shall continue to be insured by the FDIC without application or approval. Provides that whenever a financial institution files an application or notice for membership with, or to commence or resume business with, the appropriate Federal banking agency, such agency must provide such application to the FDIC for comment. Requires such agency to take the FDIC's comment into account in deciding whether to grant the application. Provides that certain State financial institutions shall continue as insured institutions. Allows any Federal savings association authorized to do business by the FHLBS to become an insured financial institution upon the filing of an application with the FDIC together with a certificate issued by the FHLBS, unless insurance is denied by the FDIC. Sets forth procedures for the FDIC to evaluate such an application. Specifies the factors to be considered in granting or denying insurance coverage. Requires the FDIC to notify the FHLBS if such insurance coverage is denied, and to give specific reasons in writing for such denial. Requires every noninsured financial institution which becomes insured by the FDIC to pay any entrance fee prescribed by FDIC regulations. Requires that such fee be credited to either the Bank Insurance Fund (BIF) or the Savings Associations Insurance Fund (SAIF) depending on which fund the institution joins. Prohibits any insured financial institution from participating in any type of conversion transaction which would result in a change of membership from one such fund to the other without the approval of the FDIC. Places a five-year moratorium on the approval of such conversion transactions, except in limited circumstances. Requires financial institutions which participate in such conversion transactions to pay specified entrance and exit fees. Provides that whenever the FDIC incurs a loss in connection with the default of an insured financial institution, or in connection with providing assistance to an insured financial institution in danger of default, any other commonly-controlled insured financial institution shall be liable to the FDIC and on request shall reimburse the FDIC for any such loss. Specifies the method of calculating such liability. Sets forth procedures for imposing and collecting such liability. Limits the rights of any third parties in such proceedings. Provides that for a five-year period no BIF members shall be held liable for the default of a SAIF member and no SAIF members shall be held liable for the default of a BIF member. Defines "commonly-controlled" for purposes of determining such liability. Adds as a factor to be considered by the FDIC in evaluating applications for insurance coverage the risk presented to the Deposit Insurance Fund (DIF), the BIF, and the SAIF. Allows the FDIC, after reaching agreement with the other Federal banking agencies, to require insured financial institutions to file additional reports for insurance purposes. Requires the FDIC to set the assessment rate for insured financial institutions annually. Specifies that the annual assessment rate for BIF members shall be determined independently from the annual assessment rate for SAIF members. Prescribes the assessment rates for BIF members for 1989, 1990, and 1991 onward. Prescribes the assessment rates for SAIF members through 1990, for 1991 through 1993, and for 1994 onward. Allows the FDIC to raise or lower such assessment rates under specified circumstances. Limits any increase in the assessment rate to 50 percent over the annual assessment rate of the prior year. Specifies that such assessments shall be paid semiannually. Allows assessment credits to BIF members and SAIF members for years in which the ratio of the net worth of such funds to the value of insured deposits reaches a certain level. Specifies that such a credit shall be applied to the assessment becoming due for the next semiannual assessment period. Extends the provisions of the Change in Bank Control Act to savings associations as well as banks. Includes as an additional corporate power of the FDIC the authority to define any terms used in the Federal Deposit Insurance Act that are not specifically defined and to interpret the definitions of any terms that are not defined. Grants the FDIC the same authority to examine insured savings associations and to insure the deposits held at savings associations as it presently has with respect to insured banks. Establishes two insurance funds (the Bank Insurance Fund (BIF) and the Savings Associations Insurance Fund (SAIF)) to be used by the FDIC to carry out the insurance purposes of this Act. Specifies that such funds are both to be operated and administered by the FDIC. Requires such funds to be separately maintained and not commingled. Specifies that the BIF shall consist of the assets of the Permanent Insurance Fund and all amounts assessed of BIF members. Specifies that the SAIF shall consist of all amounts assessed of SAIF members (which are not required for the Financing Corporation or the Resolution Funding Corporation pursuant to this Act) and of funds provided by the Secretary of the Treasury according to a specific schedule for FY 1991 through FY 1999. Authorizes the Secretary to provide additional amounts for such fund if the minimum net worth of the fund falls below a certain level. Authorizes appropriations for such funds. Authorizes the FDIC to borrow funds for the use of the SAIF. Provides that such borrowings shall be a direct liability of the SAIF and shall be subject to certain limitations. Revises and defines the authorities and duties of the FDIC as the receiver or conservator for insured Federal financial institutions and for insured State financial institutions. Specifies that all insurance payments made on account of a closed bank or insured branch of a foreign bank shall be made only from the Bank Insurance Fund and all payments made on account of a closed savings association shall be made only from the Savings Association Insurance Fund. Provides that when the FDIC pays insurance to a depositor, the FDIC shall be subrogated to the depositor's claim against the financial institution. (Such right of subrogation now applies only to national banks.) Revises and defines the authorities and duties of the FDIC in the establishment of bridge banks in cases of failed or failing financial institutions. Authorizes the FDIC to use such bridge banks in the case of failed or failing financial institutions as well as banks. Increases from one to three the number of times a bridge bank may be granted a one-year extension of its corporate existence. Revises procedures for the termination and dissolution of bridge banks. Sets forth the method and procedures for the valuation and determination of claims by third persons against financial institutions in default. Establishes the FSLIC Resolution Fund (Fund). Specifies that such Fund shall be managed by the FDIC and shall be separately maintained and not commingled. Transfers to such Fund the reserves and assets, debts, obligations, contracts, and other liabilities of the FSLIC existing on the date of the dissolution of the FSLIC. Provides that such Fund shall be funded by: (1) income generated on the assets transferred to it; (2) proceeds of the resolution of insolvent thrift institutions which became insolvent prior to December 31, 1988 (to the extent such funds are not required by the Resolution Funding Corporation); (3) the proceeds from borrowings by the Financing Corporation; and (4) assessments on SAIF members levied prior to December 31, 1991, and not required by the Financing Corporation or the Resolution Trust Corporation. Provides for additional funding by the Secretary of the Treasury from appropriated funds in the event such other funds are insufficient. Limits any judgment resulting from a civil action against the FSLIC or the FDIC to the assets of such Fund. Dissolves such Fund upon the satisfaction of all debts and liabilities and the sale of all assets acquired in case resolutions. Requires that any funds remaining in such Fund be covered into the Treasury. Requires that any funds held in either the BIF or the SAIF must be invested in U.S. Government obligations or in obligations guaranteed by the U.S. Government. Requires that the funds from the BIF and the SAIF be invested separately and not commingled. Allows the FDIC to request a 90-day stay of any legal proceedings to which it becomes a party due to its acquisition of any asset or in the exercise of certain authorities. Requires the FDIC, in determining whether to provide assistance to financial institutions, to consider: (1) the immediate and long-term obligations of the FDIC with respect to such assistance; and (2) the Federal tax revenues which would be forgone. Provides that transfers of assets or liabilities associated with any trust business may be effected by the FDIC in connection with any asset purchase transaction without any further State or Federal approval. Revises provisions relating to certain agreements against the interests of the FDIC. Specifies that the Board of Directors of the FDIC may act by a 75 percent vote (current law requires a unanimous vote) in order to override a State's objection to an assisted interstate acquisition of an insured financial institution in default having $500,000,000 or more in assets. Revises certain rules relating to the interstate acquisitions of banks. Establishes separate rules relating to the interstate acquisitions of savings associations. Increases the borrowing authority of the FDIC from $3,000,000,000 to $5,000,000,000. Makes such borrowing authority subject to the approval of the Secretary of the Treasury. Limits any State or local tax penalties to which the FDIC may be subjected when acting as a receiver or conservator of a financial institution. Limits the borrowing of both the BIF and the SAIF to 50 percent of net worth or $10,000,000,000, whichever is less. Requires the FDIC to report to the Congress annually regarding its operations, activities, budget, receipts, and expenditures. (Current law requires an annual report regarding only the FDIC's operations.) Requires the FDIC to make quarterly reports to the Secretary of the Treasury and to the Office of Management and Budget with respect to the FDIC's financial operating plans and forecasts. Requires signs displayed by insured financial institutions to represent whether an institution is a BIF member or a SAIF member. Makes all insured financial institutions subject to the Bank Merger Act. Makes the FHLBS the responsible agency with respect to mergers where the acquiring, assuming, or resulting institution is to be a savings association. Provides that all insured State financial institutions, other than State member banks or district banks, would be subject to the requirement of prior FDIC consent to the reduction of capital. Requires any insured savings association which establishes or controls a new company or elects to conduct any new activity to notify the FDIC and the FHLBS. Requires such a savings association to deduct its investments in, and loans to, such company from its own capital for purposes of determining capital adequacy if the company is engaged in activities not permissible for a national bank. Grants the FDIC and the FHLBS certain enforcement powers with respect to any company controlled by an insured savings association. Authorizes the FDIC to determine activities which are incompatible with deposit insurance. Revises the statement of the policy of nondiscrimination against State nonmember banks under the Federal Deposit Insurance Act to include State savings associations. Eliminates the requirement of nondiscrimination on account of an institution having capital stock of less than the amount required for Federal Reserve membership. Title III: Savings Association Supervision Improvements - Amends the Home Owners' Loan Act of 1933 to specify the duties and responsibilities of the FHLBS with respect to the examination, supervision, and regulation of savings associations. States that such authorities are intended to encourage savings associations to maintain their role of providing credit for housing in a manner consistent with principles of safe and sound operation. Requires the FHLBS to prescribe accounting and disclosure standards for all savings associations. Provides that such standards shall incorporate generally accepted accounting principles to the same degree such principles are used to determine compliance with the rules and regulations of other Federal banking agencies. Requires that the rules, regulations, and policies of the FHLBS governing the operation of savings associations shall be no less stringent than those of the Comptroller of the Currency. Transfers specified provisions of the National Housing Act to the Home Owners Loan Act of 1933. Makes certain conforming name changes and certain technical amendments. Requires the FDIC to be appointed the receiver of insured State savings associations under certain circumstances. Requires insured State savings associations, as well as Federal savings associations, to abide by the rules of the FHLBS when converting from mutual to stock form or from stock to mutual form. Requires the FHLBS to establish for all savings associations capital standards that are no less stringent than those applied to national banks. Allows such capital standards to include goodwill as a component of capital. Specifies that in determining capital adequacy, any investments in, and loans to, a subsidiary engaged solely in mortgage banking activities shall not be deducted from the capital of savings associations. Requires that such capital standards must be fully implemented no later than June 1, 1991. Repeals specified provisions of the Home Owners' Loan Act of 1933 and the National Housing Act which provide capital forbearance to certain insured savings associations. Allows those savings associations operating under a capital forbearance plan previously approved pursuant to such provisions to continue to operate under such plans, provided such associations continue to adhere to such plans and continue to submit required reports. Provides that the expense of the examination of savings associations or their affiliates shall be assessed by the FHLBS upon savings associations in proportion to their assets or resources. Specifies procedures for making such assessments and remedies in cases where an affiliate refuses to pay examination costs, permit examination, or provide required information. Transfers provisions of the National Housing Act concerning the regulation of savings and loan holding companies to the Home Owners' Loan Act of 1933. Makes certain technical amendments to such provisions. Imposes certain sanctions upon savings associations that fail to achieve or maintain qualified thrift lender status. Requires such a savings association to convert its charter to a bank charter within three years unless it requalifies within one year. Prohibits such a savings association from engaging in certain activities until such conversion is complete. Treats a holding company which controls such a savings association as a bank holding company for all purposes of the Bank Holding Company Act of 1956. Charges an insurance fund exit fee upon such a conversion. Makes applicable to savings associations certain provisions of the Federal Reserve Act relating to transactions with affiliates and loans and extensions of credit to directors and controlling persons. Prohibits any savings association from carrying on any sale, plan, or practices or any advertising in violation of regulations promulgated by the FHLBS. Title IV: Dissolution and Transfer of Functions, Personnel, and Property of Federal Savings and Loan Insurance Corporation - Terminates the Federal Savings and Loan Insurance Corporation (FSLIC) 60 days after the enactment of this Act. Provides that all insurance and receivership functions previously performed by the FSLIC shall be performed by either the FDIC or the Resolution Trust Corporation. Provides for the continuation and enforcement of all rules, regulations, and orders of the FSLIC. Provides for the transfer of the personnel and property of the FSLIC to the FDIC and FHLBS. Requires the FSLIC to submit a written report of a final accounting of its finances and operations to the Secretary of the Treasury, the Office of Management and Budget, and the Congress immediately prior to its dissolution. Title V: Financing For Thrift Resolutions - Subtitle A: Resolution Trust Corporation - Establishes the Resolution Trust Corporation (RTC). Specifies the purposes of the RTC as: (1) carrying out a program to manage and resolve cases involving institutions insured by the FSLIC for which a receiver or conservator has been appointed or is appointed within three years following the enactment of this Act; (2) managing the assets of the Federal Asset Disposition Association (FADA); and (3) performing other authorized functions. Provides that the RTC shall have the same case resolution and financial assistance rights and powers as the FDIC. Specifies that the RTC shall not have the authority to obligate the FDIC or its funds and shall be subject to the same limitations as the FDIC in connection with providing assistance to, or liquidating or otherwise resolving cases involving, insured institutions. Establishes the Oversight Board of the RTC which shall consist of the Secretary of the Treasury, the Chairman of the Federal Reserve Board, and the Attorney General. Authorizes the Oversight Board to select a chief executive officer for the RTC. Specifies the corporate powers of the RTC. Specifies special powers of the RTC with respect to receiverships, conservatorships, and oversight of the institutions for which it is responsible. Requires the RTC to convert the FADA to a corporation or other business entity and to sell, wind down, or dissolve such corporation or entity within 180 days after the enactment of this Act. Authorizes the RTC to issue capital certificates to the Resolution Funding Corporation. Sets forth requirements and limitations concerning such capital certificates. Exempts the RTC from Federal, State, municipal, and local taxation, except taxes on real estate held by the RTC. Authorizes the RTC to remove any legal proceeding to which it may be a party from a State court to the U.S. District Court for the District of Columbia. Provides that any guarantees issued by the FSLIC after January 1, 1989, and before the enactment of this Act shall be converted into obligations, entitlements, and instruments of the RTC. Authorizes the RTC to borrow funds from the Treasury, on terms fixed by the Secretary of the Treasury, up to an aggregate of $5,000,000,000 outstanding at any one time. Subtitle B: Resolution Funding Corporation - Establishes the Resolution Funding Corporation (RFC). Specifies the purpose of the RFC as providing the RTC with the funds necessary to carry out the purposes of this Act. Establishes a directorate to manage the RFC which shall consist of: (1) the director of the Office of Finance of Federal Home Loan Banks; and (2) two members selected from the presidents of the Federal Home Loan Banks. Sets forth administrative provisions concerning the management of the RFC. Sets forth the powers and duties of the RFC. Provides for the capitalization of the RFC by the purchase of capital stock by Federal Home Loan Banks. Specifies the amounts each Federal Home Loan Bank shall invest in the capitalization of the RFC. Provides for additional sources of funds for the RFC. Limits the amount of bonds or similar obligations which the RFC may issue to $50,000,000,000. Provides that the RFC shall pay any interest due on such obligations from proceeds received by the RTC from the liquidation of financial institutions under its management. Provides that the proceeds of obligations issued by the RFC shall be invested in capital certificates issued by the RTC. Grants tax-exempt status to any obligations of the RFC. Terminates the RFC after the date by which all capital certificates purchased by the RFC in the RTC have been retired. Title VI: Thrift Acquisition Enhancement Provisions - Amends the Bank Holding Company Act to allow bank holding companies to acquire any savings association with the approval of the Federal Reserve Board beginning two years after the enactment of this Act. Prohibits the Federal Reserve Board from imposing any restrictions on transactions between a savings association and its holding company affiliates other than those restrictions presently imposed under the Federal Reserve Act. Amends the National Housing Act to allow a savings and loan holding company to hold up to five percent of the voting shares of an unaffiliated savings association or savings and loan holding company. Permits multiple savings and loan holding companies to acquire up to five percent of the voting shares of any non-subsidiary company. Title VII: Federal Home Loan Bank Act System Reforms - Subtitle A: Federal Home Loan Bank Act Amendments - Amends the Federal Home Loan Bank Act to abolish the Federal Home Loan Bank Board (FHLBB) and transfer all power and authority vested in the FHLBB to the Chairman of the Federal Home Loan Bank System (FHLBS). Provides that the FHLBS shall be a bureau of the Department of the Treasury. Provides that the Chairman of the FHLBS shall be appointed by the President, by and with the advice and consent of the Senate. Specifies that the Chairman of the FHLBB shall become the Chairman of the FHLBS. Sets forth administrative provisions concerning employees of the FHLBS. Provides that the FHLBS shall have and may exercise all functions which the FHLBB and the FSLIC exercised and which are not expressly transferred or consolidated into the FDIC or the RTC. Sets forth the procedures and requirements for the election of the Board of Directors of the Federal Home Loan Banks. Authorizes Federal Home Loan Banks to make loans to the Federal Deposit Insurance Corporation, subject to the concurrence of the Chairman of the FHLBS, for the use of the SAIF. Requires the senior supervisory employee of each Federal Home Loan Bank to report to the chief supervisory official of the FHLBS. Provides that such senior supervisory employee may be removed for cause by the Chairman of the FHLBS. Changes the name of the Federal Savings and Loan Advisory Council to the Thrift Advisory Council. Abolishes the Federal Savings and Loan Insurance Corporation Industry Advisory Committee. Subtitle B: Conforming Amendments - Makes specified conforming amendments to the Federal Home Loan Mortgage Corporation Act, the Deficiency Appropriation Act of 1936, the Housing Act of 1948, and the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Title VIII: Bank Conservation Act Amendments - Amends the Bank Conservation Act to revise provisions concerning the appointment of the FDIC as the conservator of a bank. Specifies the conditions under which the FDIC may be appointed as a conservator. Allows an affected bank to seek judicial review of the appointment of a conservator, except in cases where the bank has consented to the appointment of a conservator or the bank's deposit insurance has been terminated. Specifies that the Comptroller of the Currency shall have the exclusive power and jurisdiction to appoint a conservator for the bank. Requires the Comptroller to consult with the FDIC when examining and supervising an ongoing bank for which the FDIC has been appointed conservator, as long as the bank continues operations as an ongoing national bank. Revises provisions concerning the termination of a bank conservatorship. Revises the powers and duties of a conservator. Revises provisions concerning the liability of a conservator for acts performed pursuant to the conservatorship. Specifies that a conservator may be held liable only for acts which are found to be grossly negligent. Allows the Comptroller to indemnify the conservator. Title IX: Regulatory Authority and Criminal Enhancements - Enforcement Powers Improvement Act of 1989 - Subtitle A: Regulation of Financial Institutions - Makes technical amendments to the Federal Deposit Insurance Act with respect to a Federal banking agency's authority to impose sanctions on an "institution-related party" who participates in the affairs of an insured financial institution (both banks and savings associations.) Reduces from 120 days to 60 days the prior notice the FDIC must give of its intention to terminate a financial institution's deposit insurance. Reduces the period during which deposit insurance is continued in such cases from two years to a period of six months to two years at the discretion of the FDIC. Allows the FDIC to temporarily suspend deposit insurance upon a finding that an insured financial institution has no tangible shareholders' equity that qualifies under the capital guidelines or regulations of the appropriate Federal banking agency. Allows the appropriate Federal banking agency to issue cease and desist orders to require affirmative action to correct conditions resulting from certain violations or practices, including making restitution or reimbursement, providing indemnification, rescinding contracts, disposing of loans, or assets, restricting growth of the institution, or providing guarantees against loss. Allows such an order to limit the activities or functions of the financial institution or any institution-related party. Specifies that the FHLBS may exercise cease and desist authority with respect to savings and loan holding companies, any subsidiary of a savings and loan holding company, any service corporation of a savings association, and any subsidiary of any such service corporation. Revises the temporary cease and desist authority of the Federal banking regulatory agencies to delete the requirement that the agency must show a "substantial" dissipation of assets or a "serious" weakening of the condition of the financial institution. Provides that such a temporary order may place limitations on the activities or functions of the financial institution or prohibitions or restrictions on the growth of the institution or any institution-related party. Allows the use of such temporary cease and desist authority when a financial institution's records are so incomplete or inaccurate that the appropriate banking agency cannot determine the financial condition of the institution. Provides that such an order may require the institution to take such action necessary to restore the records to a complete and accurate state. Revises rules concerning the suspension or removal of any financial institution-related party. Deletes the requirement that the regulatory agency must show activity which results in "substantial" financial loss or other damage to the financial institution. Specifies the types of activity to be considered, including activity at any business institution or another financial institution other than the institution in question. (Current law provides for different standards depending on whether the activity took place at another institution or at the particular institution from which removal is sought.) Allows the temporary removal of an institution-related party pending a permanent removal if necessary for the protection of the institution or depositors. Provides that any institution-related party suspended or removed by such an order shall also be suspended or removed or prohibited from participation in the conduct of the affairs of any: (1) insured financial institution; (2) bank holding company or subsidiary; (3) Edge Act corporation; (4) service corporation or subsidiary; (5) savings and loan holding company or subsidiary; (6) federally-insured credit union; and (7) institution chartered under the Farm Credit Act of 1971. Exempts such a person from such industry-wide prohibitions if the appropriate Federal regulatory agency gives prior written approval. Specifies that such authority to proceed against any institution-related party shall not be affected by the resignation, termination of employment, or other separation of such person from an insured financial institution. Increases from $1,000 per day to $25,000 per day the civil penalty for the violation of a cease and desist order or an order for the suspension or removal of an institution-related party. Allows a penalty of up to $1,000,000 per day for violations made with reckless disregard for the safety and soundness of the financial institution. Imposes a $25,000 per day civil penalty (up to $1,000,000 per day in cases of reckless disregard for the safety and soundness of the financial institution) for a violation of: (1) any law or regulation relating to financial institutions; (2) any written condition imposed by the appropriate Federal banking agency in connection with the grant of any application or other request; or (3) any fiduciary duty. Imposes such penalty for any practice which results in a loss to the financial institution or pecuniary gain to the institution-related party. Imposes criminal penalties upon any person who participates in the affairs of any federally regulated financial institution, holding company, or subsidiary after having been suspended, removed from office, or prohibited from participating in the affairs of a financial institution by an order of the appropriate Federal banking regulatory agency. (Current law imposes criminal penalties only for participation in the affairs of the institution from which the person was prohibited, removed, or suspended.) Authorizes the Federal banking agencies to pay rewards for information which leads to a recovery which exceeds $50,000 in criminal fines, restitution, civil penalties, or forfeitures. Limits such a reward to the lesser of 25 percent of the recovery or $100,000. Prohibits a federally-insured financial institution from discharging or discriminating against any employee who provides information to any regulatory authority or to the Department of Justice regarding a possible violation of any law or regulation by the financial institution or its officers, directors or employees. Establishes a civil cause of action for any employee or former employee who believes he has been discharged or discriminated against in violation of such prohibition. Authorizes the FDIC to recommend that the FHLBS take any enforcement actions authorized with respect to any savings association. Requires the FDIC to take such action if the FHLBS does not take such enforcement actions. Increases from $100 per day to a maximum of $1,000,000 per day the penalty for unauthorized participation in the affairs of a financial institution by any person who has been convicted of any criminal offense involving dishonesty or a breach of trust. Makes both the depository institution and the individual involved subject to such penalty. (Current law makes only the depository institution subject to such penalty.) Imposes criminal penalties for the knowing violation of such prohibition, in addition to such civil penalty. Increases from $1,000 per day to $25,000 per day the civil penalty for specified violations of the Federal Reserve Act. Allows a penalty of up to $1,000,000 per day for any such violations made with reckless disregard for the safety and soundness of the financial institution. Amends the Bank Holding Company Act to increase the criminal and civil penalties for violations of such Act. Specifies that both criminal and civil penalties shall be cumulative. Increases the civil penalties for violations of the prohibitions against tying arrangements between subsidiaries of a bank holding company from $1,000 per day to $25,000 per day. Allows a penalty of up to $1,000,000 per day for violations made with reckless disregard for the safety and soundness of the financial institution. Makes similar increases in the civil penalty for refusal to permit examination of a national bank or affiliate and in the general civil penalty authority of the Comptroller of the Currency. Amends the Change in Bank Control Act to increase the civil penalties for violations of such Act from $10,000 per day to $25,000 per day. Allows a penalty of up to $1,000,000 per day for violations made with reckless disregard for the safety and soundness of the financial institution. Deletes the requirement that such a violation must be "willful." Sets forth procedures for the assessment and collection of such penalties. Amends the Bank Protection Act of 1968 to repeal requirements for insured financial institutions to submit reports with respect to security devices and procedures. Increases to $25,000 per day the penalty for national banks, State nonmember banks, Federal Reserve member banks, and bank holding companies which violate reporting requirements. Allows a penalty of up to $1,000,000 per day for violations made with reckless disregard for the safety and soundness of the financial institution. Revises such requirements to prohibit submission of any false, misleading, or incomplete reports or information. (Current law provides penalties only for failure to make required reports.) Subtitle B: Regulation by the Federal Home Loan Bank System - Specifies that the FHLBS shall have examination and supervision authority with respect to Federal savings associations. Requires savings associations to make reports of condition to the FHLBS. Imposes civil penalties of $25,000 per day for failure to submit such reports and for submitting false, misleading, or incomplete reports or information. Allows a penalty of up to $1,000,000 per day for violations of such reporting requirements from reckless disregard for the safety and soundness of a savings association. Increases the civil and criminal penalties for violations of the Savings and Loan Holding Company Act to conform with the penalties for Bank Holding Company Act violations. Provides that all ongoing litigation in which the FHLBB or the FSLIC are parties shall be pursued by either the FHLBS or the FDIC. Authorizes the FHLBS to continue certain pending enforcement actions initiated by the FHLBB or the FSLIC prior to the effective date of this Act. Subtitle C: Credit Unions - Amends the Federal Credit Union Act to revise the enforcement authority of the National Credit Union Administration (NCUA) to conform to the enforcement authorities of the other Federal banking regulatory agencies. Increases the penalties for violations of such Act to conform to the penalties for violations of other banking laws. Subtitle D: Right to Financial Privacy Act - Amends the Right to Financial Privacy Act to specify that the exceptions to the requirements of such Act apply to supervisory agencies of any financial institution, holding company, or any subsidiary of a financial institution or holding company. Specifies that such exceptions extend to: (1) any supervisory agency of financial records or information in the exercise of its supervisory, regulatory, or monetary functions, including conservatorship or receivership functions; (2) the Federal Reserve or any Federal Reserve bank in the exercise of its authority to extend credit to depository institutions and others; and (3) the RTC in the exercise of its conservatorship, receivership, or liquidation functions. Prohibits a financial institution which has been served a grand jury subpoena relating to possible crimes against financial institutions or regulatory agencies from notifying any customer whose records are sought or any other party about the existence or contents of any subpoena or any information that has been furnished to the grand jury in response to that subpoena. Imposes criminal penalties for violations of such prohibition. Subtitle E: Criminal Enhancements - Amends the Federal criminal code to increase the criminal penalties and impose civil penalties for: (1) financial institution bribery; (2) financial institution misapplication and embezzlement; (3) false entries on the books of financial institutions; (4) fraud on a deposit insurer; (5) false statements or overvaluations concerning financial institutions; and (6) financial institution fraud. Sets forth procedures for the imposition of civil penalties and the collection of any such penalties. Specifies that all criminal and civil penalties shall be cumulative. Increases the statute of limitations pertaining to such crimes from five years to ten years. Provides for civil forfeiture and criminal forfeiture of any property derived from proceeds traceable to specified crimes affecting federally insured financial institutions. Amends the Federal Rules of Criminal Procedure to allow the disclosure of certain matters occurring before a grand jury to certain Government attorneys to assist in the enforcement of Federal criminal or civil law. Allows certain other disclosures when permitted by a court. Authorizes appropriations for FY 1989 to the Department of Justice for investigations and prosecutions involving financial institution crimes. Title X: Study of Federal Deposit Insurance and Banking Regulation - Requires the Secretary of the Treasury to study and report to the Congress on the Federal deposit insurance system, including an appropriate structure for the offering of competitive products and services to consumers consistent with standards of safety and soundness. Title XI: Miscellaneous Provisions - Amends the Federal Credit Union Act to delete the requirement that every credit union maintain with the National Credit Union Share Insurance Fund (NCUSIF) a deposit equal to one percent of the credit union's insured shares. Authorizes the National Credit Union Administration (NCUA) to assess an additional insurance premium if the operating level of the NCUSIF falls below a minimum level. Allows a credit union to expense the one percent deposit over an eight-year period. Requires the Comptroller of the Currency, subject to the approval of the Secretary of the Treasury, to fix the compensation of the employees of the Office of the Comptroller of the Currency. Directs the Comptroller to seek to maintain comparability with the compensation at the other Federal banking regulatory agencies.
United States · United States Congress · 22 February 1989
Federal Retirees' Fairness Act of 1989 - Requires Federal agencies to ensure that employee personnel files include information concerning all Federal employment for retirement purposes within 180 days after an employee begins service with an agency. Requires an agency, if an employee gives at least four months to one year's notice of intent to retire, to: (1) inform such employee (or, if deceased, the employee's survivors) of any retirement counseling and applicable services; and (2) begin processing disability retirement applications not later than 30 days after the date of the application. Sets forth a schedule for processing applications for retirement deduction refunds and death benefits. Requires the Office of Personnel Management to compile quarterly information on the number of retirement applications submitted by agencies and their timeliness and accuracy. Requires the agency retirement counselor to conduct seminars at least twice a year.
United States · United States Congress · 22 February 1989
Forgotten Widows and Survivor Benefits Improvements Act of 1989 - Amends the National Defense Authorization Act, Fiscal Year 1989 to direct the Secretary of the military department concerned to pay an annuity to the qualified spouse (a surviving spouse who has not remarried) of a member of the armed forces who became entitled to retired or retainer pay by November 1, 1953, who did not elect to provide his or her surviving spouse with an annuity, and who died before March 31, 1974.
United States · United States Congress · 22 February 1989
Amends title XIX (Medicaid) of the Social Security Act to cover outreach activities designed to identify Medicaid-eligible pregnant women and children and encourage and assist them in securing Medicaid benefits. Sets the Federal share of the costs of such activities at 75 percent.
United States · United States Congress · 22 February 1989
COLA Equity Act of 1989 - Provides for all Federal civilian and military retirees to receive the full cost-of-living adjustments in annuities payable under Federal retirement systems for FY 1990 and 1991. (Includes benefits payable under the Civil Service Retirement and Disability System, military retirement and survivor benefit programs, the Foreign Service Retirement and Disability System, the Central Intelligence Agency Retirement and Disability System, and railroad retirement programs.) Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to exempt railroad retirement supplemental annuities from sequestration.
United States · United States Congress · 9 February 1989
Social Security Preservation Act - Amends the Congressional Budget and Impoundment Control Act of 1974 to exclude, beginning with FY 1990, Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund receipts and outlays from Federal deficit determinations for purposes of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Increases the permissible maximum deficit amounts for FY 1990 through 1992. Establishes allowable maximum deficits for FY 1993 and 1994, to reach zero with respect to FY 1995.
United States · United States Congress · 9 February 1989
Intergenerational Library Literacy Act - Amends the Library Services and Construction Act to authorize the Secretary of Education to make grants to local public libraries to establish demonstration projects using older adult volunteers to provide intergenerational library literacy programs for school children during afterschool hours. Directs the Secretary, within three years after first making a grant under this Act, to report to the Congress on such demonstration projects, including any recommendations on the establishment of a permanent program. Makes local public libraries which receive such demonstration grants ineligible during the same fiscal year to receive certain other grants for support of library literacy programs. Amends the Domestic Volunteer Service Act of 1973 to require the Director of the ACTION Agency, in making grants under the Retired Senior Volunteer Program, to give priority to programs of national significance, such as intergenerational library literacy programs.
United States · United States Congress · 9 February 1989
Expresses the sense of the Senate that the President should: (1) delay notifying the Congress of the sale of General Dynamics F-16 fighter aircraft technology to Japan for 60 days while a further review of such sale is made by specified executive departments; (2) examine such sale's impact on the competitiveness of the U.S. aerospace industry; and (3) submit within 60 days after enactment of this resolution a report containing his findings to the Senate Committees on Foreign Relations and Armed Services.
United States · United States Congress · 8 February 1989
Mowa Band of Choctaw Indians Recognition Act - Extends Federal recognition and associated services and benefits to the Mowa Band of Choctaw Indians of Alabama. Restores Federal rights and privileges abrogated by earlier statutes. Provides that nothing in this Act shall diminish any rights or privileges of the Band that existed prior to its enactment and that nothing in this Act alters any obligations: (1) with respect to property; (2) under any contract; or (3) to pay a tax levied before its enactment. Transfers all interests in lands held by the Band to the United States to be held in trust for the benefit of the Band. Requires the Band to transfer to the United States any interest in lands acquired after enactment of this Act. Provides that such lands shall constitute the Band's reservation. Authorizes the Band to adopt a constitution that will take effect only after being filed with the Secretary of the Interior. Limits membership in the Band, until a constitution is adopted, to every individual who: (1) is named in the tribal membership roll in effect on the enactment of this Act; or (2) is a descendant of any such individual. Provides that membership will be determined according to the constitution after its adoption.
United States · United States Congress · 8 February 1989
Television Broadcasting to Cuba Act - Directs the United States Information Agency (USIA) to provide television broadcasting to Cuba. Requires that any such television broadcasting be in accordance with all Voice of America standards. Requires the Director of the USIA to establish a Television Marti Service to be responsible for all television broadcasts to Cuba. Requires that all broadcasting by such Service avoid interference with any domestic television broadcasting. Amends the Radio Broadcasting to Cuba Act to rename the Advisory Board for Radio Broadcasting to Cuba as the Advisory Board for Broadcasting to Cuba. Specifies that such Board shall be responsible for both Radio Marti and Television Marti. Authorizes assistance to the USIA from other Government agencies to carry out the requirements of this Act. Authorizes appropriations for FY 1990 and 1991.
United States · United States Congress · 8 February 1989
Medicaid Home and Community Quality Services Act of 1989 - Amends title XIX (Medicaid) of the Social Security Act to require States to provide Medicaid coverage of community and family support services for severely disabled individuals who became disabled before age 22 and are living in a family home, foster family home, or community living facility. Requires that such services be provided in accordance with a written habilitation plan developed by an interdisciplinary team on the basis of a comprehensive assessment of the individual's strengths and the services and support necessary to: (1) enable such individual to attain or retain capabilities for independence or self-care; (2) promote interaction between disabled and nondisabled individuals within the community; and (3) enable disabled individuals who are over age 18 to engage in paid employment. Increases the age at which newly disabled individuals will be eligible for this Act's coverage so that eventually individuals who become disabled between age 22 and 50 will be covered. Lists the services which may comprise community and family support services, requiring that such services include at a minimum: (1) case management services; (2) individual and family support services; (3) specialized vocational services; and (4) protective intervention services. Excludes from such services: (1) room and board, other than room and board provided for less than six consecutive weeks and less than 12 weeks per year; (2) cash payments as a service; (3) aversive behavior intervention, management, or therapies; (4) services provided to a disabled individual living in a hospital, or skilled nursing or intermediate care facility; (5) educational services which the State makes generally available to its residents without cost and without regard to their income; and (6) services for which payment is made under title XVIII (Medicare), or part A (Aid to Families with Dependent Children) or B (Child Welfare Services) of title IV of the Act. Requires each State to make certain assurances regarding their provision of community and family support services and submit an implementation strategy to the Secretary of Health and Human Services. Requires that such implementation strategies: (1) describe the extent and scope of community and family support services provided to the severely disabled and the extent and scope of services provided to the severely disabled who are institutionalized; (2) set forth the objectives and a five-year strategy for expanding community and family support services for the severely disabled; (3) include certain procedures for transferring severely disabled, institutionalized individuals to family homes, foster family homes, or community living facilities; (4) set forth standards for the provision of community and family support services and a program for licensing and certifying all facilities and programs providing such services; (5) provide for assessments of the provision and affect of community and family support services and the correction of service deficiencies; (6) provide the public with an adequate opportunity to comment on the strategies; (7) set forth methods ensuring that the personnel providing community and family support services receive adequate training and are competent to provide such services; (8) provide that the State has in effect a management information system capable of collecting, storing, and retrieving data on the severely disabled who receive community and family support services; (9) provide an opportunity for an appeal and hearing before a hearing officer to individuals who believe themselves to be inappropriately served or denied an appropriate service, or who are being scheduled for an involuntary transfer from one living arrangement to another; (10) describe the methods to be used in administering community and family support services; and (11) set forth procedures to protect the interests of public employees who will be affected by the transfer of the severely disabled from public institutions. Allows States to provide any new community and family support service for up to three years without meeting the Medicaid requirements that it provide a service on a statewide basis and that the service be comparable in all parts of the State. Requires that intermediate care facility services for the mentally retarded include the ascertainment of the individual needs of each newly admitted individual by an interdisciplinary team within 30 days and the development of a written habilitation plan for each individual. Limits Medicaid payments to States for skilled nursing and intermediate care facility services furnished to individuals under age 65 who became disabled before age 22 to the amount payable for such services in the fiscal year ending after the enactment of this Act, increased if and by the extent to which the percentage increase in the consumer price index exceeds six percent. Makes such limitation inapplicable to facilities which have less than 16 beds or meet the size and location requirements for a community living facility. Requires States to have in effect a system to protect and advocate those rights of the severely disabled who are eligible for medical assistance which relate to the provision of such assistance. Provides Federal Medicaid matching funds for such system. Gives individuals who are adversely affected by a violation of this Act's requirements the right to bring an action to enjoin such violation. Allows States to set payment rates for community and family support services for the severely disabled. Authorizes States to treat severely disabled individuals under age 19 who are not in a medical institution as receiving benefits under title XVI (Supplemental Security Income) (SSI) of the Act for Medicaid eligibility purposes if they would be eligible for SSI benefits if institutionalized. Requires States to establish a uniform income standard for the severely disabled regardless of whether or not they are in a medical institution. Authorizes States to provide Medicaid coverage of disabled spouses and children who, except for the resources deemed to them, would be eligible for SSI benefits. Removes certain limitations on the Secretary's approval of reduction and correction plans for deficient intermediate care facilities for the mentally retarded. Makes individuals who are severely disabled and receiving or deemed to be receiving SSI benefits eligible for Medicaid as long as such qualifications continue to be satisfied. Directs the Secretary to establish, within the Health Care Financing Administration, a Bureau of Developmental Disabilities Services responsible for administering Medicaid programs for the severely disabled. Requires the Secretary to: (1) develop standards and a program for training Federal and State personnel who perform surveys of skilled nursing and intermediate care facilities to determine whether such facilities meet Medicaid participation requirements; and (2) periodically conduct studies of the reliability of such surveys and make the changes necessary to improve such reliability. Directs the Secretary to support the development of: (1) instruments to assess outcomes in the provision of this Act's services; and (2) competency-based personnel standards for agencies and organizations providing services to the severely disabled pursuant to this Act. Requires the Secretary to: (1) conduct an annual assessment of each State's compliance with this Act's requirements; and (2) issue final regulations regarding this Act's amendments prior to the first fiscal year beginning after this Act's enactment. Sets forth reporting requirements.
United States · United States Congress · 8 February 1989
Designates the week of April 23 through April 29, 1989, and the last full week of April of each subsequent year as National Organ and Tissue Donor Awareness Week.
United States · United States Congress · 7 February 1989
American Heritage Trust Act of 1989 - Title I: American Heritage Trust - Establishes the American Heritage Trust, comprised of the Land and Water Conservation Fund and the Historic Preservation Fund, to provide funding for the preservation of America's natural, historical, cultural, and outdoor recreational areas. Title II: Land and Water Conservation Fund - Amends the Land and Water Conservation Fund Act to require the Secretary of the Treasury to invest a portion of the Land and Water Conservation Fund in public debt securities. Requires that the interest from such investments be used for the preservation of the Nation's recreational areas. Requires any excess interest to be credited to the Treasury. Sets forth a formula for the allocation of such interest income to the Federal Government and the States. Sets forth specified requirements with respect to the apportionment of such income to local and State governments, Indian tribes, and Alaska Native Village Corporations. Title III: Historic Preservation Fund - Amends the National Historic Preservation Act to extend the Historic Preservation Fund through 2015. Requires the Secretary of the Treasury to invest a portion of such Fund in public debt securities. Requires that the interest from such investments be used for the preservation of historic sites. Provides for allocation of a percentage of annual appropriations for State historic preservation trust funds. Title IV: Miscellaneous Provisions - Requires the owner of any site that benefits from moneys derived from the American Heritage Trust to install a sign indicating that fact. Requires the Secretary of the Interior, within 18 months after enactment of this Act, to provide for a contest for elementary or secondary school children for the design of a symbol to represent such Trust and for use in such signs.
United States · United States Congress · 7 February 1989
Amends the Internal Revenue Code to exclude from gross income any income from U.S. savings bonds used to pay tuition and fees of any individual at an institution of higher learning or vocational school. (Current law limits the exclusion to educational expenses of the taxpayer, spouse, or dependent.)
United States · United States Congress · 7 February 1989
Amends the Internal Revenue Code to extend through 1992 the period during which qualified mortgage bonds and mortgage credit certificates may be issued. (Under current law, authority for these programs is due to expire as of 1990).
United States · United States Congress · 7 February 1989
Rural Health Manpower Assistance Act of 1989 - Amends part B (Supplementary Medical Insurance) of title XVIII (Medicare) of the Social Security Act to increase incentive payments by five percent for physicians who provide primary care services in rural areas. Directs the Secretary of Health and Human Services to enter into agreements with from five to ten hospitals for the conduct of three-year demonstration projects providing instruction and consultation to rural physicians. Sets forth reporting requirements. Authorizes appropriations for such projects. Requires the Secretary to conduct a study and submit a report to the Senate Committee on Finance by October 1, 1989, assessing the supply of rural health workers.
United States · United States Congress · 7 February 1989
Effects presidential line item veto authority by requiring that each item of any continuing appropriations bill that is agreed to in the same form by both the Senate and the House of Representatives be enrolled as a separate bill for presentation to the President.
United States · United States Congress · 2 February 1989
National Energy Policy Act of 1989 - Establishes as national goals: (1) that the amount of carbon dioxide in the atmosphere be reduced from 1988 levels by at least 20 percent by the year 2000 through a mix of Federal and State energy policies; and (2) the establishment of an international global agreement on the atmosphere by 1992. Title I: National Energy Plan - Requires the Secretary of Energy (the Secretary) to transmit to the Congress a "least cost national energy plan" with forecasts, priorities, inventories, and targets for meeting such national goals. Sets forth the plan's contents. Mandates revision and resubmission of the Plan to the Congress every two years. Title II: Office of Climate Protection - Establishes the Office of Climate Protection which shall be responsible for: (1) participation by the Department of Energy in various domestic and international agencies involved in global climate change analysis; and (2) the monitoring of U.S. energy policies for atmospheric and global warming effects, with annual reports on such effects. Title III: Energy Efficiency - Subtitle A - Directs the Secretary to: (1) assign a high priority to energy efficiency in departmental programs, buildings, and equipment; and (2) submit to the Congress evaluation reports regarding the policy options necessary to produce a two to four percent annual decrease in the energy use per unit of gross national product through the year 2005. Mandates that the President's budget requests for FY 1991 through 1993 include the Secretary's recommendations of amounts to be set aside for innovative energy efficiency research and development. Authorizes appropriations for energy efficiency research and development programs for FY 1991 through 1993. Requires the Secretary to issue a general request for proposals dealing with energy efficiency technologies. Sets forth guidelines for Federal financial assistance for such proposals. Authorizes appropriations. Directs the Secretary to establish and provide financial assistance to joint research and development ventures with specialized private firms and investors in order to establish at least five regional centers for energy-intensive industries. Requires such industries to conduct research and development on common industrial processes to improve energy efficiency and reduce production and emission of carbon dioxide and trace gases into the atmosphere. Authorizes appropriations for such centers and requires the industries for which the centers are established to contribute matching funds starting in 1992. Directs the Secretary to establish a Federal Energy Analysis Team to analyze and make recommendations regarding energy efficiency and the use of renewable energy in Federal buildings. Sets guidelines for the Federal building energy conservation program to be implemented by the Secretary and Federal agencies. Amends the National Energy Conservation Policy Act to repeal the prohibition against the supply or installation by a public utility of a residential energy conservation measure for residential customers. Requires the Secretary to promulgate guidelines for regulations to be formulated and implemented by State governments requiring the assignment of an energy efficiency rating to residential buildings. Directs the Secretary to establish a technical and managerial support program for State and local governments adopting energy efficiency rating systems or building codes. Adds incandescent and fluorescent lamps to the list of covered consumer products to which energy efficiency standards apply. Requires the Secretary to: (1) prescribe energy conservation standards and test procedures for such projects by January 1, 1990; and (2) establish energy efficiency labels for windows. Subtitle B - Amends the Public Utility Regulatory Policies Act of 1978 to direct the State regulatory authorities, nonregulated electric utilities, and nonregulated gas utilities to hold public hearings regarding the implementation of Federal standards concerning utility rates based upon least cost investment. Directs the Federal Energy Regulatory Commission (FERC) to prescribe rules encouraging the achievement of qualifying conservation. Mandates that such rules: (1) require that electric utilities offer to purchase qualifying conservation from qualifying cogeneration or small power production facilities; and (2) provide for the verification of conservation achievement. Prescribes rate guidelines for such electric utilities purchases. Title IV: Energy Research and Development Priorities - Directs the Secretary to establish priorities for energy research and development programs using prescribed criteria. Title V: State Energy Conservation Program - Amends the Energy Policy and Conservation Act to mandate that State energy conservation programs which receive Federal assistance include as a goal reduction of ten percent or more in the total amount of energy consumed in such State in the year 2000 from the projected energy consumption for such State in that year. Adds to Federal assistance eligibility prerequisites for proposed State energy conservation plans, including an emergency planning program for energy supply disruption. Repeals the National Energy Extension Service Act. Cites optional State energy conservation programs. Repeals the mandate for supplemental State energy conservation plans. Authorizes appropriations for energy conservation programs for FY 1991 through 1993. Establishes a State Energy Advisory Board to: (1) recommend and advise on the programs under this Act; (2) serve as liaison between the States and the Department of Energy on energy efficiency; and (3) report annually to the Secretary and the Congress on the status of State energy conservation programs. Authorizes the use of loan programs and performance contracting for the non-Federal share of energy conservation project costs under the grant program. Amends the Energy Conservation and Production Act regarding limitations upon Federal weatherization assistance for low-income persons. Lists conditions under which the Secretary is authorized to approve a State application for a waiver of: (1) the requirement that at least 40 percent of Federal weatherization assistance be used for weatherization materials; and (2) the limitations placed upon expenditures per dwelling unit for weatherization measures. Title VI: Renewable Energy - Subtitle A - Solar Development Initiative Act of 1989 - Directs the Secretary of Energy to develop a complementary solar and renewable energy research program which: (1) has near-term commercial applications; and (2) enhances the international competitiveness of the solar and renewable energy industries. Requires the Secretary to include funding for such program in the FY 1991 budget. Directs the Secretary of Energy to establish an information dissemination program for Federal procurement and loan officers regarding the application of solar heating and cooling technology in Federal buildings. Declares that it is the sense of the Congress that the renewable energy technologies programs established by the Secretary of Commerce should be funded in FY 1991 through 1993 through the Department of Energy at a specified minimum level. Amends the Caribbean Basin Economic Recovery Act to direct the President to take into account, when determining whether to designate a beneficiary country, the degree to which it undertakes self-help measures to promote energy self-sufficiency using locally available renewable energy resources. Mandates that the design for new Federal facilities for specified agencies include consideration of energy systems using solar energy or other renewable energy forms. Amends the Export-Import Bank Act of 1945 to mandate that a specified minimum percentage of loan authority be available only for solar and renewable energy loans. Amends the Foreign Assistance Act of 1961 to authorize the Overseas Private Investment Corporation to include among its special projects incentives, grants, and studies for renewable energy and other small business activities. Prohibits the use of administrative funds for such projects. Amends the Small Business Act to: (1) repeal provisions regarding loans to small business concerns for solar energy and energy conservation measures; (2) mandate that a certain percentage of loan authority be used only for small business energy measures; and (3) direct the Administrator of the Small Business Administration to give due consideration to the export potential of solar and renewable energy loan guarantees in an annual report to the Congress. Subtitle B - Renewable Energy and Energy Efficiency Technology Competitiveness Act of 1989 - Sets forth specified national goals for the current wind, photovoltaics, and solar thermal energy programs. Requires the President's budget requests for FY 1991 to contain the recommendations of the Secretary of Energy for specified Department of Energy research and development programs for 1995, including biofuels energy systems, solar buildings energy systems, ocean energy systems, and geothermal energy. Authorizes appropriations for FY 1991 through 1993 for: (1) the wind energy research program; (2) the photovoltaic energy systems program; (3) the solar thermal energy systems program; (4) the biofuels energy systems program; (5) the solar buildings energy systems program; (6) the ocean energy systems program; and (7) the geothermal program. Requires the Secretary to submit an options analysis to the Congress regarding the accelerated commercialization of specified renewable energy technologies. Directs the Secretary to establish joint research and development ventures in specified energy technologies, and to report to the Congress on the implementation of such plans. Directs the Secretary to establish the following advisory bodies: (1) Advisory Committee on Renewable Energy and Energy Efficiency Technology; (2) Advisory Subcommittee on Photovoltaic Energy Technology; (3) Advisory Subcommittee on Wind Energy Technology; (4) Advisory Subcommittee on Solar Thermal Energy Technology; (5) Advisory Subcommittee on Energy Performance in Factory-Made Housing; (6) Advisory Subcommittee on Advanced District Cooling Technology; and (7) Advisory Subcommittee on Renewable Energy and Energy Efficiency Technology Exports. Authorizes appropriations for FY 1991 through 1993 for such joint ventures. Requires the Committee on Renewable Energy, Commerce and Trade to promote renewable energy technology exports. Authorizes appropriations for such Committee activities for FY 1991 through 1993. Requires the Secretary to make annual reports to the Congress regarding the research programs and ventures under this Act. Requires each annual submission of the National Energy Policy Plan to be accompanied by a three-year strategic plan for energy technology research, development, and demonstration, including energy conservation and renewable energy technologies. Subtitle C - Directs the Secretary of Energy to implement a research program regarding: (1) fuel cell use of methane gas generated from biomass forms; (2) technologies using renewable energy sources (such as wind and solar energy) to produce hydrogen for fuel cell use; and (3) fuel cell technology for electric power production as backup spinning reserve components to renewable power systems in rural and isolated areas. Authorizes the Secretary to make grants to, and enter into contracts with, private research laboratories. Requires the Secretary to report to the Congress regarding the fuel cell research program. Authorizes appropriations for FY 1991. Amends the Energy Policy and Conservation Act to include industries using fuel cell technology under the Renewable Energy Industry Development Act. Directs the Administrator of the Environmental Protection Agency to prepare Federal guidelines, within 180 days after enactment of this Act, for cities and municipalities specifying environmental and safety standards for use of fuel cell technology. Directs the Secretary of Commerce, within the same period of time, to report to the Congress an assessment of the export market potential for integrated systems of fuel cells with renewable power technologies. Subtitle D - Hydrogen Research and Development Act - Directs the Secretary of Energy to prepare and submit to specified congressional committees a comprehensive five-year program management plan for a research and development program designed to permit the development of a domestic hydrogen fuel production capability within the shortest practicable time. Requires the Secretary to send the Congress annual plan descriptions, including any necessary plan modifications. Directs the Secretary to establish such program within the Department of Energy. Requires that the areas to be addressed in such program include production, liquefaction, transmission, distribution, storage, and utilization. Requires priority to be given to production techniques that use renewable energy sources as their primary energy sources. Directs the Secretary to conduct demonstrations to evaluate technical and nontechnical parameters to determine commercial applicability of hydrogen technology and to prepare a comprehensive large-scale hydrogen demonstration technology plan. Requires the Secretary to prepare a comprehensive technology application plan which shall include: (1) the potential applications for the use of hydrogen; (2) technical market and economic readiness assessments for such potential applications; (3) an assessment of Government actions needed to develop such application; and (4) an analysis of the impact of such applications on domestic energy supplies. Requires the Secretary to consult with other Federal agencies and departments in carrying out this program. Requires the establishment of a Hydrogen Technical Advisory Panel of the Energy Research Advisory Board to advise the Secretary on the conduct of the hydrogen program. Requires the Panel to submit an annual report on the program to the Energy Research Advisory Board, which shall subsequently report to the Secretary. Authorizes appropriations to carry out this title for FY 1991 through 1996. Directs the Administrator of the National Aeronautics and Space Administration (NASA) to prepare and submit to specified congressional committees a comprehensive five-year program management plan for a research and development program for the development of a domestic hydrogen-fueled aircraft capability within the shortest practicable time. Requires the Administrator to transmit to the Congress an annual plan description, including any necessary modifications with respect to the plan. Requires the Administrator to establish such program within NASA and to prepare and transmit to the Congress a comprehensive flight demonstration plan which shall confirm the technical feasibility, economic viability, and safety of liquid hydrogen as a fuel for commercial transport aircraft. Provides that the research and development program under this title shall include, at a minimum, the development of the systems associated with the production, transportation, storage, and handling of liquid hydrogen for commercial aircraft application. Provides that the Administrator shall consult with other Federal agencies and departments in carrying out the program. Establishes a Hydrogen-Fueled Aircraft Advisory Committee to advise the Administrator on the programs established by this title. Requires the Committee to report annually to the Administrator on its activities and on the status of such programs. Authorizes appropriations to carry out this title for FY 1992 through 1996. Title VII: Advanced Civilian Reactor Programs - Directs the Secretary to implement, according to certain guidelines, a research, development, and demonstration program for the generation of commercial electric power from nuclear fission. Authorizes appropriations for FY 1992 through 1994. Requires the Secretary to submit an annual comprehensive report to the Congress regarding the progress of reactor designs which meet the guidelines set out for such demonstration program. Title VIII: Fusion - Requires the Secretary to report to the Congress regarding international collaboration in research, development, and demonstration in technology for the production of electricity from magnetic and inertial confinement fusion. Title IX: Coal - Requires the Secretary, within nine months after the date of enactment of this Act, to provide the Congress with a comprehensive review of clean coal technologies to be developed in federally funded projects under the Department of Energy's Clean Coal Technology Program. Directs the Secretary to establish and implement: (1) research and development programs demonstrating techniques for carbon dioxide recovery and disposal from motor vehicles, electric utility power operations, and industrial manufacturing processes; and (2) a comprehensive program in the fundamental physics and chemistry of coal combustion. Directs the Secretary to support research to improve the efficiency of coal-generated electricity and industrial processes, giving priority to those projects with the greatest potential for reducing the generation of carbon dioxide. Authorizes appropriations for FY 1991 through 1993. Title X: Natural Gas - Directs the Secretary to enter into cooperative agreements with and to provide financial assistance to municipal governments to demonstrate the feasibility of using natural gas as a fuel for urban area mass transit. Sets as a prerequisite to such agreements that the participating municipal government provide at least 25 percent of the demonstration costs. Authorizes appropriations for FY 1991 through 1993. Requires the Secretary to submit a feasibility report to the Congress within nine months after the date of enactment of this Act pertaining to the use of natural gas in diesel-powered vehicles to facilitate compliance with emissions requirements. Directs the Secretary to implement a program promoting the development and commercialization of natural gas use in motor vehicle fleets by providing for the purchase and construction of alternative fuel vehicles and associated refueling equipment. Authorizes appropriations for FY 1991 through 1993. Directs the Secretary to implement a technician training program to convert conventional fuel vehicles to natural gas. Authorizes appropriations for FY 1991 through 1993. Directs the Secretary to enter into cooperative financial assistance agreements with the Gas Research Institute to perform research and development to improve natural gas vehicle technology. Directs the Secretary to implement a research, development, and demonstration program (including joint research and development ventures) on nonconventional natural gas recovery techniques, as well as improved techniques for recovering gas from discovered reservoirs. Directs the Secretary to enter into cooperative agreements with, and provide financial assistance to, certain parties to construct and demonstrate high efficiency heat engines. Authorizes appropriations. Requires the Secretary to transmit a biennially updated research and priorities list to certain congressional committees. Title XI: Natural Resource Policy - Subtitle A: General - Directs the Secretary of the Interior to conduct a study of the ecological and environmental resources that would be affected by a global climate change. Directs such Secretary and the Secretary of Agriculture to consider the relative impact on global warming of all Federal forest land management programs, including timber sales and reforestation. Directs the Secretary of Agriculture, in cooperation with the Secretary of the Interior, to report to the President and the Congress on the feasibility of a national forestation initiative. Requires the Secretary of Energy to submit to the Congress a study regarding the potential for reducing carbon dioxide emissions through targeted urban tree plantings designed to reduce air conditioning needs in buildings. Subtitle B: Tongass Timber Reform Act - Amends the Alaska National Interest Lands Conservation Act to repeal the ongoing appropriations for timber utilization in the Tongass National Forest, Alaska. Repeals the requirement for identifying lands unsuitable for timber production in such Forest. Repeals the reporting requirement on the adequacy of the timber supply from Forest lands. Requires the biennial report on such Forest to include the impact of timber management on subsistence resources, wildlife, fisheries habitats, biological diversity, the old growth rain forest ecosystem, and other specified items. Requires the southeast Alaska commercial fishing industry to be included, for cooperation and consultation, in a study of the Forest timber supply and demand. Directs the Secretary of Agriculture to terminate specified long-term timber sale contracts, and to revise the Tongass National Forest Land Management Plan of 1979 in a manner that fully protects long-term environmental and recreational concerns. Requires the Secretary to report to certain congressional committees regarding the status of such Forest Plan revision schedule. Imposes a moratorium on timber sales and harvest until the Forest Plan is completely revised and ready for implementation. Title XII: Basic Science Initiatives - Authorizes appropriations for FY 1991 through 1993 to specified Federal agencies to conduct certain climatological and ecological research. Title XIII: Development Assistance - Directs the Secretary of State, in conjunction with the Administrator of the Agency for International Development and other specified officials, to report to the Congress on the status of forest resources in tropical countries, including a forest plan with goals for each tropical country. Requires the Administrator to: (1) ensure that all financial support activities supported by U.S. bilateral foreign assistance are consistent with such plan; and (2) take into account each country's measure of success in meeting plan goals when allocating development assistance monies. Prescribes guidelines under which the Secretaries of State and of the Treasury are directed to promote multilateral tropical forestry programs and to report to the Congress regarding the progress made by each of the multilateral development banks, the United Nations Food and Agriculture Program, the United Nations Development Program, and the International Tropical Timber Organization. Directs the Secretary of Commerce to promulgate regulations within one year after the date of enactment of this Act requiring wood and products containing imported wood to bear a label disclosing the names of such wood and the countries of origin. Requires such Secretary to promulgate regulations prohibiting the importation of wood and wood products containing wood from: (1) tropical forest countries that have not achieved the forest plan goals; (2) countries that import wood or products containing wood harvested in tropical countries that have not achieved forest plan goals; and (3) countries that permit transit of wood or products containing wood harvested in tropical countries that have not achieved forest plan goals. Requires the Secretary to report annually to the Congress on the status of import controls with respect to tropical forest countries that have not achieved the forest plan goals. Amends the Foreign Assistance Act of 1961 to authorize the President to assist developing countries with research and development programs aimed at energy efficiency and energy transmission facilities in rural areas. Prohibits assistance for large-scale production of energy from fossil fuels. Prescribes guidelines under which the President is directed to provide support to aid-receiving countries with emphasis upon end use energy efficiency, least-cost energy planning, and energy conservation. Requires the President to report annually to the Congress regarding the bilateral energy program, including the progress made in reducing greenhouse gas emission. Directs the Secretary of the Treasury to instruct the U.S. Executive Director of each multilateral development bank to: (1) vigorously promote the adoption by each bank of an energy conservation and efficiency program containing specified components; and (2) oppose, except in certain instances, financial or technical assistance to any borrowing country if a least-cost energy plan prioritizing energy conservation, end use energy efficiency, and renewable energy sources is not in place. Directs the Secretary of State to instruct the Ambassador to the United Nations to: (1) vigorously encourage the United Nations Development Program implementing energy conservation and efficiency programs for recipient countries; and (2) oppose the adoption of country programs for any country for which a least-cost energy planning program giving priority to energy conservation, end use energy efficiency, and renewable energy sources is not in place. Requires the Secretary of the Treasury and the Secretary of State to report annually to the Congress regarding the progress of the multilateral development banks and the United Nations Development Program in implementing energy conservation measures. Authorizes the Secretary of the Treasury to modify the loan terms on up to one-half of the sovereign debt owed the United States by developing countries as a condition of adopting forest and energy conservation programs. Directs the Secretary to promulgate regulations implementing such environmental conservation and debt reduction program within one year after the enactment of this Act. Directs the Secretary to encourage the adoption of joint initiatives of debt reduction and conversion by the public and private sectors in member countries of the Organization for Economic Cooperation and Development. Directs the Administrator of the Agency for International Development to report biennially to the Congress regarding the status of energy conservation and efficiency for each country receiving Federal development assistance monies. Directs the Secretary of the Treasury to: (1) instruct the U.S. Executive Director to notify the staff of each multilateral development bank that future Federal contributions will be conditioned upon the successful implementation of a specified energy efficiency program; and (2) report annually to the Congress on the progress made by each multilateral development bank in implementing the energy efficiency program. Requires the Administrator of the Agency for International Development to report to the Congress regarding the options and strategies for the use of bilateral and multilateral development assistance programs sponsored by the United States to control emissions of certain greenhouse gases into the atmosphere. Title XIV: International Activities - Declares that it is the policy of the United States that the Secretary of State shall convene an international meeting in the United States by the end of 1992 to adopt a global climate protection convention with measures at least as stringent as those in this Act. Sets forth a percentage reduction schedule for emissions of specified gases. Directs the Secretary of State to: (1) initiate negotiations for the adoption of a binding multilateral agreement requiring specified reductions of nitrogen oxide emissions by 1998; (2) request and, if necessary, convene the parties to the Montreal protocol on substances that deplete the ozone layer for possible control measures reassessment; and (3) convene an international meeting to exchange information regarding nuclear safety issues, including nuclear waste disposal. Directs the Secretary of the Treasury to instruct the U.S. Executive Directors of multilateral development banks to promote lending policies which emphasize specified aspects of energy conservation, renewable energy sources, including measures for international energy cooperation, and world population reduction. Directs the Administrator of the Agency for International Development to take specified measures concerning: (1) biological diversity conservation; (2) renewable energy resources and conservation; (3) assistance to developing countries in the use of agricultural and industrial chemicals; and (4) a report to the Congress on Agency practices regarding the overseas use of renewable energy technologies. Declares U.S. policy with respect to domestic and international efforts to deal with the greenhouse effect. Requests the President to take steps to establish a long-term study of the greenhouse effect, beginning with a one-year cooperative international research program started during or before 1991. Names the year of such program the International Year of the Greenhouse Effect. Title XV: Moderating World Population Growth - Authorizes appropriations for FY 1991 through 1993 for international population and family planning assistance. Prohibits the use of such funds for: (1) involuntary sterilization; (2) abortion; or (3) the coercion of any person to accept family planning services.
United States · United States Congress · 2 February 1989
Air Travel Rights for Blind Individuals Act - Amends the Federal Aviation Act of 1958 to preclude an air carrier from establishing aircraft seating restrictions based upon a passenger's visual acuity or use of a white cane or dog guide or other such means of assistance.
United States · United States Congress · 2 February 1989
Tongass Timber Reform Act - Title I: Alaska National Interest Lands Conservation Act Amendments - Repeals specified provisions of the Alaska National Interest Lands Conservation Act (the Act) relating to: (1) the authorization of appropriations for the maintenance of the timber supply from the Tongass National Forest in Alaska to dependent industry; (2) the identification of Forest lands unsuitable for timber production; and (3) a specified report to the Congress by the Secretary of Agriculture on the timber supply and demand in southeastern Alaska. Amends the Act to include in a specified report to the Congress on the Forest: (1) the impact of timber harvest on wildlife and fisheries resources and recreation resources and tourism, biological diversity, and the old growth rain forest ecosystem; (2) timber supply and demand in southeastern Alaska; and (3) costs and revenues of the timber sale program. Requires the Secretary to terminate, not later than 90 days after enactment of this Act, specified timber sale contracts between the United States and the Alaska Pulp Corporation and the Ketchikan Pulp Company. Title II: Management of the Tongass National Forest - Directs the Secretary to revise the Tongass National Forest Land Management Plan of 1979, in conformance with this Act and other applicable laws, to increase protection of the Forest's resources critical to the interests of the commercial fishing, recreation, and tourism industries, and the subsistence users in southeast Alaska. Requires specified reports to certain congressional committees. Title III: Moratorium on Timber Sales and Harvest - Prohibits the sale or harvest of timber (including timber sale preparation or road construction) upon forest lands during the revision of the management plan.
United States · United States Congress · 2 February 1989
Amends the Federal Election Campaign Act of 1971 to repeal the exception which permits any individual who was a Member of Congress on January 8, 1980, to convert excess campaign contributions to personal use.
United States · United States Congress · 2 February 1989
Infant Mortality and Childrens Health Act of 1989 - Amends title XIX (Medicaid) of the Social Security Act to require States to cover children born after September 30, 1983, whose family income is below the Federal poverty level. Authorizes States to continue such coverage for one year after the family's income rises above the Federal poverty level. Phases in mandatory State coverage of pregnant women and infants whose family income is below 185 percent of the Federal poverty level. Deducts child and medical care costs from the income eligibility test. Requires the continuation of such coverage for women through the month in which the 60-day post-partum period expires, and for infants throughout their first year of life. Directs the Secretary of Health and Human Services to report to the Congress by July 1, 1990, on State error rates in determining the Medicaid eligibility of pregnant women and infants. Suspends error rate penalties attributable to such eligibility determinations made from July 1, 1989, until one year after the Secretary's report. Permits States to provide Medicaid coverage to all children whose family income is below the Federal poverty level. Requires that States make ambulatory prenatal care available to a pregnant woman during a presumptive eligibility period which ends when she is determined to be ineligible for Medicaid benefits or 14 days after she is determined to be eligible, but fails to apply. Amends title V (Maternal and Child Health Services) of the Act to require States to provide outreach services for Medicaid-eligible pregnant women and infants under such title. Amends the Medicaid program to reimburse States, at the Federal Medicaid assistance percentage, for outreach services identifying Medicaid-eligible pregnant women and infants and assisting them in applying for Medicaid coverage. Requires that States submit information to the Secretary, by April 1 of each year, pertaining to the supply of and demand for obstetrical and pediatric services and proposed Medicaid payment rates for such services so that the Secretary may determine whether such rates are sufficient to ensure that obstetrical and pediatric services will be at least as available to Medicaid beneficiaries as they are to the general population. Requires States to immediately revise rates determined to be insufficient. Increases, by 25 percent, the Federal share of Medicaid costs attributable to State demonstration projects to reduce infant mortality and childhood morbidity by improving the access of Medicaid-eligible pregnant women, infants, and children to obstetricians and pediatricians. Limits FY 1990 expenditures for such projects. Directs States to adjust Medicaid payments to disproportionate share hospitals to take into account exceptionally costly and lengthy inpatient hospital services for children. Requires States to: (1) coordinate Medicaid services with the special supplemental food program for women, infants, and children (WIC) under the Child Nutrition Act of 1966; and (2) notify Medicaid-eligible pregnant, breastfeeding, or postpartum women and children under age five of WIC program benefits. Directs the Secretary to develop, for use by January 1, 1990, a national toll-free phone number providing basic health information and health care referrals to pregnant women, new mothers, and other interested persons.
United States · United States Congress · 2 February 1989
Medicare Catastrophic Coverage Revision Act of 1989 - Delays, for one year, the implementation of the Medicare Catastrophic Coverage Act of 1988, except for provisions of such Act expanding benefits under part A (Hospital Insurance) of title XVIII (Medicare) of the Social Security Act.
United States · United States Congress · 2 February 1989
Community Revitalization Tax Act of 1989 - Amends Internal Revenue Code income tax accounting rules to treat rehabilitation investment credits and low-income housing credits as credits not derived from passive activities. Revises the limitation on the general business credit to allow a maximum annual credit equal to the first $20,000 of an individual taxpayer's income tax liability plus 80 percent of any excess liability.
United States · United States Congress · 2 February 1989
Constitutional Amendment - Declares that the Congress has the power to set reasonable limits on campaign expenditures by, in support of, or in opposition to any candidate in any primary or other election for Federal office. Declares that the States have such power with respect to State or local elections.
United States · United States Congress · 31 January 1989
Foreign Ownership Disclosure Act of 1989 - Requires any foreign person who holds or acquires a significant interest in a U.S. property or a controlling interest in a U.S. business enterprise to register with the Secretary of Commerce. Requires that any changes in such information be disclosed in an amended registration within a limited period of time. Sets forth penalties for the failure to comply with such registration requirements. Defines a "significant interest" in U.S. property as more than five percent of the total equity or ownership interests in assets or real property having a market value or gross sales in excess of specified amounts. Defines a "controlling interest" in a U.S. business enterprise as more than 25 percent of the total equity or ownership interests in a business enterprise having assets or gross sales in excess of specified amounts. Directs the Secretary to submit an annual report to the President and the Congress, concerning: (1) the extent and effects of foreign investment in the United States; and (2) the effectiveness and efficiency of the registration and reporting requirements of this Act. Directs the Secretary to compile a registry of foreign investments in the United States. Limits access to the information in such registry.
United States · United States Congress · 31 January 1989
Equity for Rural Hospitals Act of 1989 - Directs the Secretary of Health and Human Services to design a legislative proposal for eliminating the differences in average standardized Medicare payments (under title XVIII of the Social Security Act) to large urban, other urban, and rural hospitals by FY 1995, while recognizing appropriate cost differences among hospitals. Amends the Medicare program to provide additional payments to Medicare-dependent, small rural hospitals up to FY 1992 (when the transition to a single average standardized Medicare payment rate is required to begin), ensuring the coverage of such hospitals' reasonable operating costs for Medicare inpatient hospital services. Requires the recomputation of Medicare sole community hospital payment rates using the most recent information on hospital-specific costs per case and, if greater, national rather than regional prospective payment rates. Includes, in the Secretary's determination as to whether a hospital is a sole community hospital, consideration of the travel time to the nearest alternative source of inpatient care and the number of patients who seek health services which are unavailable in the hospital's area. Establishes the Medicare Geographical Classification Review Board to decide on a rural hospital's application for classification as an urban hospital for Medicare payment purposes. Amends the Omnibus Budget Reconciliation Act of 1987 to alter the Rural Health Care Transition Grant Program to extend and increase authorized appropriations for such program through FY 1992, and permit the Secretary to waive the hospital grant limit. Expands, from four to ten hospitals, a Medicare demonstration program covering additional costs incurred by teaching hospitals in sending their residents to rural hospitals for training. Requires the Secretary to establish five-year Medicare demonstration programs covering costs incurred by five hospitals in providing clinical training to undergraduate nurses.
United States · United States Congress · 31 January 1989
Proxmire Financial Modernization Act of 1989 - Title I: Securities Affiliates of Bank Holding Companies - Amends the Banking Act of 1933 (Glass-Steagall Act) to repeal specified provisions which: (1) prohibit a bank that is a member of the Federal Reserve System (member bank) from affiliating with a securities firm; and (2) prohibit member banks from employing officers, directors, or employees who are also employed by a firm primarily engaged in securities activities. Amends the Bank Holding Company Act of 1956 to allow bank holding companies to own shares of securities affiliates which engage in: (1) underwriting, distributing, or dealing in securities of any type; (2) securities brokerage, investment advisory, or other accepted securities activities; and (3) other activities permitted by the Board of Governors of the Federal Reserve System. Establishes criteria for Board approval of such acquisitions. Prohibits mergers between certain large banks or bank holding companies (those having assets of more than $30,000,000,000) and large securities firms (those having assets of more than $15,000,000,000). Establishes criteria (including a notice requirement) for bank holding company investment in securities affiliates. Establishes capital standards to be used by the Board in determining whether a bank holding company meets the acquisition guidelines. Restricts transactions between banks or insured institutions and securities affiliates, including: (1) extensions of credit directly or indirectly benefiting such affiliates; and (2) interlocking directorates. Requires each securities affiliate to prominently disclose to its customers that: (1) the securities affiliate is not a bank or a federally-insured institution and is separate from any affiliated bank or insured institution; and (2) the securities offered or sold are not deposits and are not insured by the Federal Deposit Insurance Corporation (FDIC) or the Federal Savings and Loan Corporation (FSLIC) and are not guaranteed by an affiliated bank or insured institution. Prohibits a bank, insured institution, or subsidiary from giving investment advice on securities dealt in by a securities affiliate without disclosing that the securities affiliate is underwriting, distributing, or dealing in the securities. Prohibits the disclosure of any nonpublic customer information between a securities affiliate and a bank, insured institution, or subsidiary without the customer's consent. Prohibits a securities affiliate from dealing in asset-related securities originated by an affiliated bank, insured institution, or subsidiary unless such securities are rated by a nationally recognized rating organization and are issued or guaranteed by the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, or the Government National Mortgage Association. Requires each appropriate Federal banking agency and the Securities and Exchange Commission (SEC) to establish a program for: (1) enforcing such restrictions; and (2) responding to consumer complaints about violations. Specifies that any securities affiliate of a bank holding company previously approved by the Federal Reserve Board must meet the requirements of this Act, unless the affiliate's activities are specifically authorized by statute for a national bank. Limits securities underwriting, distribution, and dealing by banks affiliated with a securities affiliate. Prohibits a securities affiliate from underwriting, distributing, or dealing in certain types of unsecured corporate debt securities or equity securities unless each of its affiliated banks is in compliance with any applicable risk-based capital standards issued by the appropriate Federal banking agency. Prohibits a securities affiliate from: (1) engaging in the underwriting, distributing, or dealing of securities issued by a registered investment company until 180 days after the enactment of this Act; or (2) engaging in the underwriting, distributing, or dealing of equity securities (other than those issued by a registered investment company) except pursuant to a joint resolution to be considered by the 102d Congress. Requires that a vote on such joint resolution be taken by April 1, 1991. States that acquisition applications which are not acted upon by the Board within 91 days shall be deemed to be granted. Repeals this requirement four years after enactment of this Act. Preempts State laws which are inconsistent with this Act. Amends the Federal Reserve Act to extend the prohibition against the purchasing of any security by a member bank during the existence of any underwriting or selling syndicate if any affiliate of the bank is a principal underwriter of that security from the day such syndicate terminates until 30 days after such termination. Amends the Federal Deposit Insurance Act to impose additional restrictions on securities affiliates of insured banks and on the distribution or underwriting of municipal revenue bonds by insured banks or affiliates thereof. Authorizes a national bank to: (1) underwrite certain types of State and local government bonds; and (2) sponsor unit investment trusts and distribute investment company securities, if such bank has no securities affiliate. Amends the International Banking Act of 1978 to prohibit: (1) U.S. banking activities by large foreign banks that become affiliated with large investment banking organizations with U.S. offices; and (2) U.S. investment banking activities by large foreign investment banking organizations that become affiliated with large bank holding companies or banks. Amends the Bank Holding Company Act to allow the establishment of diversified financial holding companies. Defines a "diversified financial holding company" as a company that directly or indirectly controls a bank and which: (1) engages only in financial activities; (2) devotes 80 percent of more of its consolidated assets to certain activities permissible under the Bank Holding Company Act; (3) has not more than 20 percent of its consolidated assets consisting of insured banks or thrift institutions; (4) has not more than 40 percent of its consolidated assets consisting of all types of banks or thrift institutions (insured, uninsured, domestic, or foreign); and (5) gives written notice to the Federal Reserve Board of its intent to be treated as a diversified financial holding company. Specifies that a diversified financial holding company shall not be considered as a bank holding company, but shall be subject to applicable Federal statutes relating to bank holding companies. Provides exemptions for diversified financial holding companies with respect to: (1) grandfathered rights to continue to engage in nonconforming financial activities; and (2) normal bank holding company examination and capital requirements. Subjects such diversified companies and subsidiary banks to restrictions applicable to bank holding companies with respect to joint marketing of affiliate services and lending to affiliates engaged in nonconforming activities. Permits the Federal Reserve Board to order a diversified company to divest any subsidiary bank not meeting capital standards. Requires the Federal Reserve Board, the Securities and Exchange Commission (SEC), the Federal Deposit Insurance Corporation (FDIC), the Comptroller of the Currency, and the Commodity Futures Trading Commission (CFTC) to review and coordinate their respective rules applicable to capital adequacy, reporting requirements, and transactions with affiliates on an ongoing basis. Requires such agencies to conduct a study and jointly submit a report to the Congress concerning: (1) the advisability of consolidated regulation of companies controlling banks or securities firms; (2) the appropriate techniques for supervising affiliate transactions within such firms; (3) the efforts to achieve international harmonization of the regulation of such firms; (4) the effect of financial activities outside the United States on securities activities and their regulation within the United States; (5) the advisability of establishing a permanent international framework to harmonize financial market regulation; (6) the nature and techniques used in supervising banking and securities organizations; and (7) the impact of financial services competition from firms that are neither banks nor securities firms. Directs the agencies to develop proposed revisions to harmonize the capital adequacy of banking and securities organizations using the recent international agreement among bank regulators as a model. Requires the agencies to submit an annual report to the Congress regarding their progress towards, and recommendations for, achieving harmony of financial institution regulations. Directs the Federal Reserve Board to conduct a study and submit a report to the Congress concerning the steps necessary to ensure the integrity and reliability of the large-dollar payments system in the United States. Sets forth expedited procedures for the consideration and vote by the 102d Congress on whether or not to permit securities affiliates to underwrite, distribute, and deal in equity securities. Title II: Expedited Procedures - Amends the Bank Holding Company Act of 1956 to establish (under limited circumstances, where a company acquires control of a bank in a reorganization) expedited procedures for forming a bank holding company. Exempts such formations from specified registration requirements under the Securities Act of 1933. Requires any bank holding company seeking to engage in certain nonbanking activities (as determined by the Board) to notify the Board of such intentions. Allows the Board 60 days to: (1) disapprove the proposal; or (2) extend the time period for Board consideration. Provides limited exceptions from such notice requirements. Requires the Board, in determining whether to disapprove an application under this Act, to consider whether the activity described would produce benefits to the public that outweigh possible adverse effects. Allows the Board to reduce the post-approval waiting period for: (1) bank holding company acquisitions; and (2) bank mergers. Provides that a national bank may own the stock of a bankers' bank or a bankers' bank holding company if such bankers' bank or holding company is owned exclusively by either banks or holding companies. Allows a bankers' bank chartered by the Comptroller of the Currency to be organized within a holding company provided that the holding company for the bankers' bank is owned by depository institutions and their holding companies. Permits the Federal Reserve Board to increase the limit for member banks on loans secured by stock or bond collateral to any one person to 15 percent of a bank's unimpaired capital and surplus. Title III: Brokers and Dealers - Amends the Securities Exchange Act of 1934 to revise the definition of "broker" to include a bank which publicly solicits brokerage business or receives compensation for such business in excess of the bank's transaction costs ("incentive compensation"). Provides that a bank shall not be considered to be a "broker" under such Act because it engages in certain exempted activities, including: (1) networking arrangements; (2) trust activities; (3) transactions in municipal and certain other securities; (4) transactions in employee benefit accounts, money market sweep accounts, or affiliate accounts; (5) private placement activities; and (6) less than 1,000 other securities transactions per year, provided the bank does not have a subsidiary or affiliate registered as a broker or dealer. Revises the definition of "dealer" to exclude banks which engage in certain exempted activities, including: (1) transactions in commercial paper, bankers' acceptances, commercial bills, or exempted securities; (2) transactions in municipal securities, provided the bank does not have a securities affiliate; (3) trust or fiduciary activities; and (4) securitization activities. Authorizes the SEC to exempt any person or class of persons from the definition of "broker" or "dealer" upon a finding that such an exemption is consistent with the public interest, the protection of investors, or the purposes of the Securities Exchange Act. Prohibits a bank from acting as a broker or dealer, except on an exclusively intrastate basis. Title IV: Bank Investment Company Activities - Amends the Investment Company Act of 1940 to require a registered investment company which places its assets with a bank that is an affiliated person, promoter, sponsor, organizer, or principal underwriter for such a company to do so only in accordance with regulations the SEC may adopt after written consultation with the appropriate Federal banking agency. Requires a unit investment trust which designates an affiliated bank as a trustee to do so only in accordance with regulations that the SEC may adopt after written consultation with the appropriate Federal banking agency. Prohibits an investment company from knowingly acquiring securities during an underwriting where the proceeds will be used to retire indebtedness owed to an affiliated bank. Prohibits a mutual fund from borrowing from an affiliated bank except pursuant to regulations adopted by the SEC. Revises the definition of "interested person" for purposes of the Investment Company Act to include any person (including a bank) that acts as custodian, or transfer agent, or engages in specific types of transactions with an investment company within the preceding six-month period. Extends the prohibition against officers, directors, and employees of any one bank constituting the majority of the board of directors of a registered investment company to the officers and directors of any one bank and its subsidiaries, or any one bank holding company and its affiliates and subsidiaries. Prohibits a registered investment company or persons who sell securities issued by a registered investment company from representing or implying that the company or security is insured by the FDIC or FSLIC or is guaranteed by, or is otherwise an obligation of, any insured institution. Authorizes the SEC to issue regulations to require such a company or person to disclose that such securities are not so insured or guaranteed. Revises the definition of "broker" and dealer" for purposes of the Investment Company Act and the Investment Advisers Act to conform to the revised definition of such terms in the Securities Exchange Act. Amends the Investment Advisers Act of 1940 to remove the exclusion from the definition of "investment adviser" for banks that advise investment companies. Requires the SEC to notify the appropriate Federal banking agency before initiating any examination, investigation, or enforcement action against any bank holding company, bank, or department or division of a bank registered or required to be registered under the Investment Advisers Act. Authorizes the SEC to share information with Federal, State, foreign, and self-regulatory organizations, officials, or agencies for law enforcement and regulatory purposes. Title V: Strengthened Enforcement Authority - Enforcement Powers Improvement Act of 1989 - Part A: Regulation of Banks - Amends the Federal Deposit Insurance Act to list the types of remedial relief that an appropriate Federal banking agency may require in a cease and desist order. Allows a Federal banking agency to issue a temporary cease and desist order where an insured bank's books and records are so incomplete or inaccurate that the agency is unable to determine the financial condition of the bank or the details or purposes of any transactions. Makes technical amendments with respect to a Federal agency's authority to remove or suspend any "institution-related party." States that the resignation or termination of an individual shall not affect the jurisdiction or authority of a Federal banking agency to take enforcement actions. Expands a Federal banking agency's authority to assess penalties to include violations of conditions imposed in writing by such agency in connection with the granting of any application or other request. Permits any individual who is the subject of a suspension, removal, or prohibition order under such Act, with agency approval, to reenter the industry. States that the authority granted to Federal banking agencies under such Act shall be in addition to, and not restricted by, any other authority provided by law. Increases the civil penalty for permitting certain convicted individuals to work at an insured bank. Subjects the individual, as well as the bank, to such penalty. Deletes the provision requiring that those assessed a civil money penalty under the Change in Bank Control Act of 1978 be afforded the right to a de novo trial in U.S. district court. States that such persons are entitled to an agency hearing and administrative review. Amends the Bank Protection Act of 1968 to eliminate a specified reporting requirement regarding the installation, maintenance, and operation of security devices and procedures. Modifies the civil money penalty assessment powers of Federal agencies with respect to inaccurate call reports and bank holding company reports. Part B: Regulation of Savings and Loan Associations - Amends the National Housing Act and the Home Owners' Loan Act of 1933 to allow the Federal Savings and Loan Insurance Corporation (FSLIC) and the Federal Home Loan Bank Board to: (1) order restitution or reimbursement from their institution-related parties to recover losses resulting from violations of law or other improper conduct; and (2) use a cease and desist order to limit the activities and functions of an institution-related individual or insured institution. States that temporary cease and desist orders may place limits on the activities and functions of institution-related parties, insured institutions, association-related parties, and Federal associations. Provides for the removal or suspension of institution and association-related parties based upon unsafe or unsound conduct causing financial loss or other damage to an insured institution or Federal association. States that a removal or suspension under such Act shall be deemed to be a removal or suspension from all federally insured institutions, bank holding companies, and Federal associations. Amends the National Housing Act and the Home Owners' Loan Act of 1933 to provide that the jurisdiction and authority granted to the FSLIC and the Bank Board under such Acts shall not be affected by the resignation or termination of any institution or association-related party. Makes procedural changes with respect to the civil money penalty authority of the FSLIC and the Bank Board. Amends the National Housing Act to require insured institutions, Federal savings banks, and savings and loan holding companies to make reports of condition to the FSLIC. Establishes civil penalties for failing to submit such reports within the period of time specified by the FSLIC and for making false or misleading reports. Part C: Credit Unions - Amends the Federal Credit Union Act to set forth the types of relief which the National Credit Union Administration Board (NCUAB) can require as part of a cease and desist order. Allows the NCUAB to issue a cease and desist order in cases in which a credit union's books and records are so incomplete or inaccurate that the NCUAB is unable to determine the financial condition of that credit union. Makes technical amendments with respect to the NCUAB's authority to remove or suspend any "institution-related party." Grants such removal authority to other Federal regulatory agencies. States that the resignation or termination of an individual shall not affect the jurisdiction or authority of the NCUAB to take enforcement actions. Expands the NCUAB's authority to assess penalties to include violations of conditions imposed in writing by such agency in connection with the granting of any application or other request. Permits any individual who is the subject of a suspension, removal, or prohibition order under such Act, with agency approval, to reenter the industry. Increases the civil penalty for permitting certain convicted individuals to work at an insured institution without NCUAB permission. Subjects the individual, as well as the institution, to such penalty. Eliminates certain reporting requirements regarding the installation, maintenance, and operation of security devices and procedures. Title VI: Truth in Savings and Investments - Truth in Savings and Investments Act - Requires each advertisement, announcement, or solicitation by a depository institution which refers to a specific interest rate, yield, or rate of earnings on amounts held in any account to state the following information clearly and conspicuously: (1) the annual percentage yield and the period such yield is in effect; (2) all minimum initial deposit, minimum balance, and time requirements for earning such yield; (3) fees or other conditions that could reduce the yield; and (4) any penalty for early withdrawal. Authorizes the Board of Governors of the Federal Reserve System to exempt advertisements, announcements, or solicitations made by any broadcast or electronic medium or outdoor advertising displays not on the premises of a depository institution from the disclosure requirements relating to initial deposit requirements or fees, if such disclosure would be unnecessarily burdensome. Prohibits any depository institution from advertising an account as a free or no-cost account if: (1) there are minimum balance or limited transaction requirements to avoid fees; or (2) there is any service fee or transaction fee imposed for such account. Prohibits any institution from making any advertisement, announcement, or solicitation that is inaccurate or misleading or that misrepresents its deposit contracts. Requires each depository institution to maintain a schedule, written in clear and plain language, of fees, charges, yields, and terms and conditions such as minimum balance and time requirements applicable to each class of accounts offered. Requires that such schedule be disclosed to potential customers and requesting individuals and mailed to account holders. Requires that account holders receive 30 days' advance notice of any change to be made in any term or condition required to be disclosed in the schedule if the change might reduce the yield or adversely affect any account holder. Directs the Board to require modified disclosure requirements concerning the annual yield on variable rate accounts, multiple rate accounts, guaranteed-rate accounts that mature in less than one year, and accounts for which the interest rate is not guaranteed. Requires a depository institution to calculate the amount of interest on an interest-bearing account using the average daily balance method (with certain exceptions) based on the full amount of principal in the account for each day of the stated calculation period at the rates of interest disclosed pursuant to the requirements of this Act. Specifies that such requirement shall not be construed as prohibiting or requiring the use of any particular method of compounding or crediting of interest. Directs the Board to provide for public notice and comment on, and to publish, model forms and clauses for common disclosures required by this Act. Provides for the enforcement of this Act and the civil liability of a depository institution that fails to comply with requirements of this Act. Sets forth limitations on such liability and factors to be considered by the court in determining class action awards. Provides that an institution may not be held liable for a violation if the institution demonstrates that the violation was not intentional and resulted from a bona fide error, or if the institution makes a notification of and an adjustment for errors within a specified time. Establishes U.S. district court jurisdiction and a one-year statute of limitations for actions brought under this Act. Directs the National Credit Union Administration to provide for the similar regulation of credit unions. Amends the Investment Company Act of 1940 to require the SEC to: (1) consult with the Federal Reserve Board in order to review regulations prescribed under specific Acts to determine if such regulations are providing consumers with the ability to compare savings and investment options; and (2) modify its regulations if necessary. Specifies that this Act supersedes any State laws relating to the disclosure of yields payable or terms for accounts or the determination of the balance on which interest is calculated. Title VII: Insurance Activities - Bank Holding Company and National Bank Improvements Act of 1989 - Amends the Bank Holding Company Act of 1956 to prohibit a bank holding company from engaging in any insurance activities in the United States, either directly or through any of its bank or nonbank subsidiaries, unless such activities qualify under specified exemptions. Accords grandfather rights with respect to specified insurance activities conducted by certain bank holding companies through State banks or subsidiaries. Amends the National Bank Act to provide that, with specified exceptions, a national bank or subsidiary thereof may engage in only those insurance activities which are limited to assuring the repayment of the outstanding balance due on a specific extension of credit by the national bank in the event of the death, disability, or involuntary unemployment of the debtor. Provides that a national bank located in an area with a population not exceeding 5,000 may engage in other insurance activities only so long as: (1) the insurance activities are confined to such an area; and (2) the insurance is sold only to residents of the State in which the bank is located or to natural persons employed in that State. Allows certain companies to continue to engage in insurance activities otherwise not permitted under this Act. Title VIII: Miscellaneous - Directs the Federal Reserve Board to conduct a study and submit a report to the Congress concerning the effects that hostile acquisitions in the banking industry could have on the safety, soundness, and stability of banking in the United States and on financial markets. Prohibits a grandfathered nonbank bank owned by a bank holding company on August 10, 1987, from making commercial loans or accepting demand deposits or transaction accounts unless authorized by the Federal Reserve Board as of August 10, 1987. Revises rules concerning joint marketing restrictions between an affiliated company and a grandfathered nonbank bank. Allows an industrial bank owned by a bank holding company to continue to engage in activities it was authorized to engage in on March 5, 1987. Specifies that a certain investment company shall be deemed to have been registered under the Investment Company Act of 1940 as of the date of its incorporation. Amends the Federal Power Act to allow a person to hold the position of officer or director of a public utility and officer or director of a bank, trust company, or banking association without authorization of the Federal Energy Regulatory Commission (FERC) as long as such bank, trust company, or banking association does not underwrite or participate in the marketing of securities (including commercial paper) of the public utility. Amends the Expedited Funds Availability Act to revise provisions concerning reasonable exceptions to the requirements of such Act and to set forth fund availability disclosure requirements with respect to cashier's, certified, and similar checks exceeding $5,000. Amends the Bank Holding Company Act of 1956 to exclude payroll tax filing service organizations from the definition of "bank" for purposes of such Act. Amends the International Banking Act of 1978 to authorize the appropriate Federal banking agencies to deny the application of a foreign bank or other company subject to the Bank Holding Company Act of 1956 to engage in U.S. banking activities if the President determines that the country in which such entity has its principal place of business, is chartered, or is incorporated does not accord to U.S. banks and bank holding companies the same competitive opportunities as it accords to domestic banks and bank holding companies. Amends the Securities Exchange Act of 1934 to provide similar authorization to the SEC to deny the application of brokers or dealers from countries which are determined not to accord to U.S. brokers and dealers the same competitive opportunities as accorded to domestic brokers and dealers. Requires the Federal Reserve Board to conduct a study and submit a report to the Congress concerning the need to continue the separation of full-service banking and commerce in the United States. Increases the criminal and civil penalties for willful violations of provisions of the Bank Holding Company Act of 1956. Requires national banks, savings and loan associations, and credit unions to include in their deposit account statement mailings to consumers information concerning financial consumers associations in States where such associations have been established and where such a requirement applies to State institutions.
United States · United States Congress · 31 January 1989
Postal Service Budgetary Treatment Act of 1989 - Declares that the receipts and disbursements of the Postal Service Fund: (1) shall not be included in the totals of the Federal budget or the congressional budget; (2) shall be exempt from Federal budget limitations on expenditures and net lending; and (3) shall not be counted for purposes of calculating the Federal deficit. Makes the U.S. Postal Service an off-budget Federal entity.
![Official portrait of Sen. Shelby, Richard C. [R-AL]](https://www.congress.gov/img/member/s000320_200.jpg)