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501 records in US in 1989
United States · United States Congress · 22 March 1989
Establishes in the House of Representatives the Select Committee on Housing and Tax Policy.
United States · United States Congress · 21 March 1989
Nuclear Regulatory Commission Authorization Act for Fiscal Years 1990 and 1991 - Authorizes appropriations for the Nuclear Regulatory Commission for FY 1990 and 1991 and for its Office of the Inspector General. Prescribes allocation guidelines. Requires the Commission to promulgate a user fee schedule. Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to repeal the requirement that the Commission submit to certain congressional committees a feasibility study regarding user charges.
United States · United States Congress · 21 March 1989
Deposit Insurance Reform and Regulatory Modernization Act of 1989 Title I: Common Management of All Federal Deposit Insurance Funds Established - Federal Deposit Insurance Reform and Simplification Act - Amends the National Housing Act to transfer the management of the Federal Savings and Loan Insurance Corporation (FSLIC) from the Federal Home Loan Bank Board (FHLBB) to the Federal Deposit Insurance Corporation (FDIC). Makes such transfer effective January 1, 1990. Requires the FDIC and the FHLBB to consult with and cooperate with each other in carrying out their respective duties. Specifies that all functions and activities of the FSLIC concerning the regulation of savings and loan holding companies shall be transferred to the FHLBB. Amends the Federal Credit Union Act to transfer the management of the National Credit Union Share Insurance Fund (NCUSIF) from the National Credit Union Administration (NCUA) to the FDIC. Makes such transfer effective January 1, 1990. Requires the FDIC and the NCUA to consult with and cooperate with each other in carrying out their respective duties. Title II: Federal Deposit Insurance Funds Combined; Federal Deposit Insurance Act Amendments - Federal Deposit Insurance Merger Act - Subtitle A: Merger of Federal Deposit Insurance Funds - Redesignates the FDIC as the Federal Deposit and Savings Insurance Corporation (FDSIC), effective January 1, 1994. Designates the FDSIC as the insurer of deposits in all eligible depository institutions, including: (1) institutions insured by the FDIC as of December 31, 1993; (2) new national banks when chartered by the Comptroller of the Currency; (3) State banks which become members of the Federal Reserve System; (4) savings and loan associations insured by the FSLIC as of December 31, 1993; (5) new savings and loan associations when chartered by the FHLBB; (6) credit unions insured by the NCUSIF as of December 31, 1994; and (7) new credit unions when chartered by the NCUA. Specifies procedures for uninsured State depository institutions to apply to become insured depository institutions. Establishes within the FDSIC the Federal Deposit Insurance Fund (Fund) consisting of the Permanent Insurance Fund of the FDIC and amounts transferred to the Fund from the primary and secondary reserves of the FSLIC and from the NCUSIF. Authorizes the FDSIC to limit the aggregate amount of public funds which may be invested in time and savings deposits in any insured depository institution by a Federal, State, or local government depositor on the basis of the size of any such depository institution. Allows an exception to such limitation with respect to deposits for which the government depositor has pledged collateral required as security for such deposits. Preserves any prior rights and obligations of the FSLIC and the NCUSIF arising before the effective date of the termination of the FSLIC and the NCUSIF. Makes technical and conforming amendments to the definitions of "bank" and other related terms. Sets forth new definitions relating to savings and loan associations, credit unions, and foreign banks. Makes technical and conforming amendments to the Federal Deposit Insurance Act to revise and set forth requirements concerning: (1) the coordination of activities with other examining agencies; (2) reporting; (3) the disposition of net assessment income; (4) adjustments to capital based on capital-to-insured deposits ratios; (5) continuing the business of an insured institution which lacks a quorum of directors due to suspension, which has lost its insured or member status, or which is under receivership; (6) payments to depositors of closed institutions; (7) the issuance of capital stock for a new depository institution; and (8) disqualifying offenses for directors or officers of insured institutions. Amends the Federal Deposit Insurance Act to provide that time and savings deposits held by insured depository institutions shall be lawful investments for and may be accepted as securities for: (1) all public funds of the United States; (2) fiduciary and trust funds under the authority or control of the United States; and (3) funds of all corporations organized under the laws of the United States. Allows insured depository institutions to be depositaries of public funds and fiscal agents of the United States, subject to regulations prescribed by the Secretary of the Treasury. Subtitle B: Termination of FSLIC; Amendments to National Housing Act - Terminates the FSLIC effective January 1, 1994. Requires the FDSIC to take such action as may be necessary to wind up the affairs of the FSLIC and to conclude its functions, including matters affecting the disposition of personnel, assets, liabilities, property, and records. Requires the Board of Directors of the FDSIC to ensure the transfer to the FDSIC of all assets, liabilities, property, and records of the FSLIC relating to any function that becomes a FDSIC responsibility. Makes technical and conforming amendments to the National Housing Act concerning the definition of "insured institution," the registration of new savings and loan holding companies, the continuation of the registration of existing holding companies, and reporting by the FHLBB to the FDSIC of insurance risks. Makes technical and conforming amendments to the Home Owners' Loan Act of 1933 and the Federal Home Loan Bank Act. Subtitle C: Termination of National Credit Union Share Insurance Fund - Terminates the NCUSIF as of January 1, 1995. Requires the FDSIC Board to ensure the transfer to the FDSIC of all assets, liabilities, property, and records of the NCUSIF. Repeals provisions of the Federal Credit Union Act relating to the NCUSIF. Subtitle D: Amendments to Other Acts - Makes specified technical and conforming amendments to various Federal laws relating to the banking industry, including the Bank Protection Act of 1968, the Home Mortgage Disclosure Act of 1975, the Community Reinvestment Act of 1977, the Depository Institution Management Interlocks Act, the Truth in Lending Act, the Fair Credit Reporting Act, the Equal Credit Opportunity Act, the Fair Debt Collection Practices Act, the Electronic Fund Transfer Act, the Federal criminal code, the Flood Disaster Protection Act of 1973, the International Banking Act of 1978, the Federal Credit Union Act, the Bank Holding Company Act Amendments of 1970, the Federal Reserve Act, the Bank Holding Company Act of 1956, and the Farm Credit Act of 1971. Title III: Merger of Federal Banking and Thrift Institution Regulatory Agencies - Federal Depository Institutions Commission Act - Redesignates the Federal Deposit Insurance Act as the Federal Depository Institutions Act. Subtitle A: Federal Depository Institutions Commission - Establishes the Federal Depository Institutions Commission. Sets the membership of the Commission at five members, four to be appointed by the President and one to be selected by the Chairman of Federal Reserve Board from the members of the Board. Sets the term of Commission members at seven years. Specifies that initial appointments shall be made so as to achieve staggered terms. Sets forth administrative powers of the Commission. Grants U.S. district courts jurisdiction over all cases to which the Commission is a party, with certain exceptions relating to cases involving the Commission as a receiver of a State depository institution or certain rights of a State depository institution under State law. Subtitle B: Regulation of National Banks - Transfers to the Commission all functions of the Comptroller of the Currency relating to the formation, supervision, and regulation of national banks, effective January 1, 1998. Makes technical and conforming amendments to various Federal statutes relating to the examination and supervision of national banks. Authorizes the Commission to require reports of condition or special reports from such banks at any time and to require the publication of such reports in local newspapers where the national banks are located. Redesignates certain Federal statutes as the National Bank Receivership Act of 1886. Authorizes the Commission, when acting as a receiver of a national bank, to use the assets of such bank to purchase any real or personal property in which the institution has an interest, if the property is being sold under any execution, foreclosure decree, or court order. Subtitle C: Regulation of Member Banks - Transfers to the Commission all functions of the Federal Reserve Board and the Federal reserve banks relating to the examination, supervision, and regulation of banks which are members of the Federal Reserve System, effective January 1, 1998. Exempts from such transfer and maintains with the Federal Reserve Board the authority to suspend member banks' use of Federal Reserve System credit facilities and the authority to permit State banks to subscribe to the stock in a Federal reserve bank. Makes technical and conforming amendments to the Federal Reserve Act, the Bank Holding Company Act of 1956, and other Federal banking statutes. Subtitle D: Regulation of Insured Depository Institutions - Transfers to the Commission all functions of the FDSIC relating to the examination, supervision, regulation and insurance of deposits of State-chartered non-member insured banks, effective January 1, 1998. Makes technical and conforming amendments to various Federal banking statutes. Subtitle E: Regulation of Thrift Institutions - Transfers to the Commission all functions of the FHLBB relating to the chartering, regulating, and examining of savings banks, savings and loan institutions, savings and loan holding companies, and holding company affiliates, effective January 1, 1998. Makes technical and conforming amendments to the Home Owners' Loan Act of 1933, the National Housing Act, and the Federal Home Loan Bank Act. Subtitle F: Regulation of Credit Unions - Transfers to the Commission all functions of the National Credit Union Administration Board, effective January 1, 1998. Makes technical and conforming amendments to the Federal Credit Union Act. Subtitle G: Termination and Transfer Provisions - Authorizes the President and the chairman of the Federal Reserve Board to appoint members of the Commission in advance of its effective date in order for the Commission to be prepared to carry out its functions on such effective date. Requires the Commission to consult with other banking regulatory agencies for the purpose of achieving the transfers and reorganizations required by this Act in the most efficient and least disruptive manner. Terminates the FDSIC (as established by this Act) effective January 1, 1998. Requires the Commission to wind up the affairs of the FDSIC, to conclude its functions, including matters affecting the disposition of personnel, assets, liabilities, property, and records and to transfer to the Commission all assets, liabilities, property, and records of the FDSIC. Terminates the National Credit Union Administration and Board, effective January 1, 1998. Requires the Commission to wind up the affairs of NCUA as of such date, to conclude its functions, including matters affecting the disposition of personnel, assets, liabilities, property, and records and to transfer to the Commission all assets, liabilities, property, and records of the NCUA. Requires the Commission to ensure the efficient transfer to the Commission of the assets, liabilities, property, and records relating to the functions of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Home Loan Bank Board transferred to the Commission. Subtitle H: Effective Date - Makes this title effective on January 1, 1998.
United States · United States Congress · 21 March 1989
Amends the Internal Revenue Code to permit an income tax credit, computed at the regular ten percent rate, of up to $100,000 for investments in certain depreciable property.
United States · United States Congress · 21 March 1989
Amends Internal Revenue Code provisions relating to the income tax deduction for the health insurance costs of self-employed individuals to: (1) increase the allowable deduction from 25 percent to 100 percent; and (2) make the deduction permanent (under current law it will expire after tax year 1989).
United States · United States Congress · 21 March 1989
Amends the Internal Revenue Code to reduce the maximum capital gains rate, with respect to up to $100,000 of gain, from: (1) 28 percent to 15 percent for noncorporate taxpayers; and (2) 34 percent to 15 percent for corporate taxpayers.
United States · United States Congress · 21 March 1989
Amends the Internal Revenue Code to disallow any income tax deduction for tobacco and tobacco product sales promotion expenses.
United States · United States Congress · 21 March 1989
Amends the Internal Revenue Code to disallow the Puerto Rico and possession income tax credit with respect to income from any trade or business involving the production or marketing (or both) of chicken products. Describes procedures to govern the recapture of previously allowed credits. Directs the Secretary of the Treasury to study and report to specified congressional committees concerning the effect of the Puerto Rico and possession tax credit on employment in the continental United States.
United States · United States Congress · 20 March 1989
Arms Control Authorization Act of 1989 - Title I: Arms Control and Disarmament Agency - Amends the Arms Control and Disarmament Act to authorize appropriations for the Arms Control and Disarmament Agency for FY 1990 through 1991. Requires the Director of the U.S. Arms Control and Disarmament Agency to study the advisability of establishing an Arms Control Implementation and Compliance Resolution Bureau to: (1) manage the implementation of arms control agreements; (2) coordinate the activities of specified commissions; and (3) prepare analyses and policy positions regarding the resolution of arms control compliance questions. Requires the Director to submit a report to the Congress on the results of such study together with recommendations with respect to the advisability of establishing such Bureau. Requires the President to establish an Arms Control Verification Working Group to: (1) examine verification approaches to arms reduction and control agreements; and (2) assess the relevance for such agreements of the verification provisions of the INF Treaty. Permits the use of appropriations for expenses of travel of Agency personnel outside the United States that continues beyond the end of a fiscal year. Title II: On-Site Inspection Activities - Requires the On-Site Inspection Agency to carry out its responsibilities under the direction and guidance of specified officials and to consult with such officials on a regular basis. Authorizes appropriations for the On-Site Inspection agency for FY 1990 and 1991.
United States · United States Congress · 20 March 1989
Foreign Relations Authorization Act, Fiscal Years 1990 and 1991 - Title I: The Department of State - Part A: Authorization of Appropriations; Allocation of Funds - Authorizes appropriations for FY 1990 and 1991 for the Department of State for: (1) the administration of foreign affairs; (2) international organizations and conferences; (3) international commissions; (4) migration and refugee assistance; (5) bilateral science and technology agreements; (6) Soviet-East European research and training; and (7) the Asia Foundation. Amends the State Department Basic Authorities Act to authorize the transfer into the Buying Power Maintenance Account of amounts deobligated from accounts for the administration of foreign affairs. Eliminates a percentage limitation on the transfer of authorized funds between specified Department of State accounts. Provides that if an amount appropriated pursuant to an Act other than an appropriation Act is less than the authorization amount and the Act provides for earmarked funds, such funds shall be reduced to an amount bearing the same ratio to such funds as the amount appropriated bears to the authorization amount. Authorizes amounts appropriated for the Department of State to be obligated for 12-month contracts for two fiscal years, provided that the total amount is obligated in the earlier fiscal year. Applies such provisions only to funds appropriated for FY 1987 and thereafter. Authorizes appropriations for U.S. participation in the 1992 Seville World's Fair. Part B: Department of State Authorities and Activities; Foreign Missions - Amends the State Department Basic Authorities Act to authorize the Secretary to use appropriated funds for: (1) obligations assumed in Germany on or after June 5, 1945; (2) telecommunications services; and (3) the provision of maximum physical security in Government-owned and leased properties abroad. Authorizes funds received by the Department in connection with the use of Blair House for FY 1990 and 1991 to be credited to the appropriate appropriations account and made available for maintenance and other expenses of Blair House. Amends the International Center Act to authorize the Department of State to charge Federal agencies for the lease or use of International Center facilities used for security and maintenance. Amends the State Department Basic Authorities Act to authorize the Secretary of State to require foreign missions to obtain benefits or comply with other terms of the Secretary if necessary to implement an exchange of property with a foreign country to be used in connection with diplomatic or consular establishments. Authorizes the Secretary, if it is determined that the purposes of the Foreign Service Buildings Act, 1926 can best be met by such exchanges of property, to transfer funds for the acquisition and maintenance of buildings abroad to the Working Capital Fund. Amends the Foreign Relations Authorization Act, Fiscal Years 1986 and 1987 to increase the amount of funds authorized for the construction of Foreign Service Institute training facilities. Amends the Arms Export Control Act to credit a specified amount of registration fees collected from manufacturers, exporters, or importers of designated defense articles or services to a Department of State account for FY 1990 and 1991. Repeals a provision of the Foreign Relations Authorization Act, Fiscal Years 1988 and 1989 concerning overseas assignments of Drug Enforcement Agency agents. Amends the Omnibus Diplomatic Security and Antiterrorism Act to eliminate the exemption for Agency for International Development (AID) regional inspector general offices from the Secretary of State's oversight for overseas staffing levels. Amends the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1989 to remove provisions regarding: (1) a prohibition on the use of funds to relocate AID regional inspector general offices; and (2) the number of positions authorized for such offices. Repeals a provision of the Foreign Relations Authorization Act, Fiscal Years 1988 and 1989 which requires the Secretary of State to report to the Congress on expenditures made from appropriations for emergencies in the diplomatic and consular service. Amends the American-Mexican Treaty Act of 1950 to authorize appropriations for the Department of State for official entertainment and other representation expenses within the United States for the U.S. section of the International Boundary and Water Commission. Authorizes the expenditure of appropriations available to the Commission for repairs of sanitation works threatened by the Colorado and Tijuana Rivers and for emergency actions against health threatening sanitation problems. Authorizes the President to carry out preliminary surveys, operations, and maintenance of the system constructed to intercept sewage flows from Tijuana and selected canyon areas. Prohibits the operation of the Anzalduas diversion dam for irrigation or water supply purposes in the United States unless arrangements have been made with the prospective water users for repayment to the Government of the allocated portions of such dam. Authorizes the Secretary of State, acting through the Commission, to conduct investigations relating to the drainage of transboundary waters between the United States and Mexico. Repeals provisions of the Foreign Relations Authorization Act, Fiscal Years 1988 and 1989 concerning the operations of diplomatic and consular posts and the United States Information Agency (USIA). Repeals a provision of a specified Act relating to the solemnization of marriages by consular officials. Adds the Department of State to the list of agencies to which criminal justice agencies are required to make available criminal history record information regarding individuals under investigation by the Department for determining the eligibility of such individuals for access to classified information or assignment to sensitive national security duties. Authorizes the U.S. Postal Service to establish branch post offices at diplomatic posts abroad. Requires the Department of State to transfer postal revenues to the Postal Service for expenses incurred in providing airmail service for such posts. Amends the State Department Basic Authorities Act to authorize special agents of the Department of State and the Foreign Service to make arrests without warrant for any offense concerning passport or visa issuance if there are grounds to believe that a person has committed or is committing such offense. Removes violations of specified sections of the criminal code from a list of violations for which such agents are authorized to make arrests without warrant. Part C: Diplomatic Immunity, Reciprocity and Security - Amends the Immigration and Nationality Act to make ineligible to receive a visa and to exclude from admission into the United States any alien who has committed a serious criminal offense and for whom immmunity from criminal jurisdiction was exercised with respect to such offense. Waives such excludability under certain conditions. Amends the Foreign Relations Authorization Act, Fiscal Years 1988 and 1989 to require the President, no later than October 1, 1990, to determine whether steps have been or will be taken to: (1) ensure that a new chancery building for the U.S. Embassy in Moscow can be safely and securely used; and (2) eliminate the damage to U.S. national security from electronic surveillance by Soviet facilities on Mount Alto. Expresses the sense of the Congress that a 1969 agreement (and related agreements, notes, and understandings) between the United States and the Soviet Union on reciprocal allocations for use free of charge of plots of land in Moscow and Washington, D.C., should be terminated if the President cannot make such determinations. Amends the State Department Basic Authorities Act to authorize the Secretary of State to make grants to child care facilities to offset in part the costs of such care in Moscow and other posts abroad where the Secretary determines that such facilities are necessary to the efficient operation of the post. Amends the Employee Polygraph Protection Act of 1988 to exempt the Department of State from a prohibition on administering lie detector tests, in any counterintelligence function, to individuals working under Department contracts. Part D: Personnel - Amends the Foreign Service Act of 1980 to require the Secretary of the Treasury, at the direction of the Secretary of State and the election of a foreign national employee, to transfer such employee's interest in the Civil Service Retirement and Disability Fund to a trust or other local retirement plan (except a social security plan). Deems such transfers to be a complete and final payment of benefits under Federal provisions governing civil service compensation. Amends the Foreign Service Act of 1980 to authorize judicial review of any separation for cause of a Foreign Service member. Makes technical amendments to provisions regarding the payment of travel expenses for Foreign Service members and their families in emergency situations. Revises Federal provisions regarding civil service compensation to extend the time period for which payments to employees whose evacuation has been ordered may be made. Revises Federal provisions regarding quarters, education, and cost-of-living allowances for Federal employees stationed in foreign countries. Amends the Foreign Service Act of 1980 to prohibit extra credit for foreign service at an unhealthful post from being used to determine the eligibility of a person to qualify as a former spouse of a Foreign Service employee or to compute such person's pro rata share of employee credit. Prohibits such credit for service as a part of a tour of duty. Entitles qualified former spouses of former USIA and AID employees to Foreign Service health and survivor benefits if such an employee retired before participation in the Foreign Service Retirement and Disability System was possible and the marriage lasted at least five years during the overseas assignment. Amends the State Department Basic Authorities Act to authorize the Secretary of State to make grants to post-secondary institutions or students (with special emphasis on minorities) to promote awareness of, and interest in, Foreign Service employment. Requires satisfactory educational progress by grant recipients for continued receipt of such grants. Amends the Foreign Service Act of 1980 to authorize Foreign Service members who receive presidential appointments to remain eligible for certain performance pay and leave in lieu of receiving the salary and leave of the appointed position. (Current law makes such members ineligible for performance pay.) Title II: International Organizations - Authorizes the President to continue U.S. membership in the International Sugar Organization and the International Tropical Timber Organization. Allows U.S. contributions to such organizations to be paid from funds appropriated for contributions to international organizations, beginning in FY 1991. Expresses the sense of the Congress that the President should ensure that the United Nations continues to pay sufficient attention to the United States and other major financial contributors in decision-making procedures on budgetary matters. Authorizes the President to withhold funds appropriated for the U.S. contribution to the United Nations or its agencies unless the United Nations has continued to implement the decision-making process in such manner. Amends the Foreign Relations Authorization Act, Fiscal Years 1988 and 1989 to repeal provisions regarding the U.S. contribution to the International Committee of the Red Cross and the recognition of the Red Shield of David. Title III: Immigration and Refugee Provisions - Amends the Migration and Refugee Assistance Act of 1962, as amended by the Foreign Relations Authorization Act, Fiscal Years 1986 and 1987 to make technical amendments to a provision regarding audits of funds received by the United Nations High Commissioner for Refugees.
United States · United States Congress · 20 March 1989
Authorizes appropriations for the Maritime Administration for FY 1990 for: (1) operating-differential subsidies; (2) research and development; (3) manpower, education, and training; (4) operating programs; and (5) national security support capabilities, including the National Defense Reserve Fleet and the Ready Reserve Force. Amends the Merchant Marine Act, 1936 to revise Federal provisions relating to the making of student incentive payments to individuals enrolled in State maritime academies. Directs the Secretary of Transportation to submit to the Congress a study on providing training opportunities for State, regional, and Federal maritime academy students that will produce licensed graduate officers. Amends the Merchant Marine Act, 1936 to set the cap on annual payments to regional maritime academies which meet certain requirements at $200,000. Amends the Merchant Ship Sales Act of 1946 to limit the purposes for which the Secretary of Transportation may enter into a contract for maintenance of the National Defense Reserve Fleet, including the Ready Reserve Force.
United States · United States Congress · 20 March 1989
Requires the cost-of-living adjustments in FY 1990 for persons receiving military retired pay or an annuity under a veterans' survivors' benefits program to take effect. Prohibits any reduction or suspension of such adjustments under any presidential order or any other provision of law, except applicable Federal armed forces provisions.
United States · United States Congress · 20 March 1989
Repeals provisions of the Internal Revenue Code that limit the deductibility of contributions to individual retirement plans by active participants in employer-maintained retirement plans.
United States · United States Congress · 17 March 1989
Repeals estate tax provisions of the Internal Revenue Code with respect to inclusion in the gross estate of the value of certain types of transfers with a retained life estate. Applies the repeal retroactively in connection with property transferred after December 17, 1987.
United States · United States Congress · 17 March 1989
Amends the Internal Revenue Code to require indexing, based on the gross national product deflator, of the adjusted basis of certain assets (corporate stock and tangible property that is a capital asset of property used in a trade or business) that have been held for more than one year at the time of sale or other transfer, solely for the purpose of determining gain or loss. Increases from one year to three years the holding period required for long-term capital gain or loss tax treatment.
United States · United States Congress · 17 March 1989
Amends the Internal Revenue Code to allow a nonrefundable 20 percent income tax credit for up to $3,000 of expenses incurred for radon-reduction equipment installed in a taxpayer's principal residence determined to have a radon level that needs to be reduced.
United States · United States Congress · 17 March 1989
Amends the Internal Revenue Code to require indexing, based on the gross national product deflator, of the adjusted basis of certain assets (corporate stock and tangible property that is a capital asset of property used in a trade or business) that have been held for more than one year at the time of sale or other transfer, solely for the purpose of determining gain or loss.
United States · United States Congress · 17 March 1989
Amends the Internal Revenue Code to allow an income tax deduction for interest on any indebtedness incurred to pay the educational expenses, including reasonable living expenses, of the taxpayer, spouse, or dependent.
United States · United States Congress · 17 March 1989
Revises the Federal Unemployment Tax Act definition of "employer" in the context of agricultural labor by: (1) increasing from $20,000 to $40,000 the amount of wages an employer must pay before triggering unemployment contribution requirements; and (2) indexing this amount in 1990 and thereafter.
United States · United States Congress · 17 March 1989
Section 89 Simplification Act - Amends Internal Revenue Code provisions relating to the new nondiscrimination requirements for coverage and benefits under certain statutory employee benefit plans to: (1) prescribe criteria for simplified health arrangements which, if offered by an employer, will be treated as meeting the nondiscrimination requirements of Internal Revenue Section 89; (2) increase from 17 1/2 hours to 25 hours per week (30 hours in 1989, 27 1/2 hours in 1990) the threshold number of work hours triggering requirements with respect to part-time employees; (3) apply noncompliance penalties (taxation of benefits) only with respect to highly compensated employees rather than with respect to all employees; (4) exempt the plans of entities with no highly compensated employees; and (5) revise rules relating to plan testing, aggregation of plans, and coverage valuation.
United States · United States Congress · 16 March 1989
Savers and Investors Act of 1989 - Amends the Internal Revenue Code to exempt any tax-deferred account (defined in this Act) from Federal income tax, except for taxes imposed on the unrelated business income of certain tax-exempt organizations. Requires such an account to be in the form of a trust created for the exclusive benefit of an individual or beneficiary. Enumerates other qualifying criteria and limitations governing the accounts. Taxes account distributions as ordinary income, but permits a tax-free rollover from one account to another. Lists special rules in connection with an account's loss of tax-exempt status. Requires the account trustee to report account data to the Secretary of the Treasury and to the investor.
United States · United States Congress · 16 March 1989
Repeals specified provisions of the Tax Reform Act of 1986 that eliminated income averaging. Amends the Internal Revenue Code to permit income averaging for a person: (1) actively engaged in the trade or business of farming, including aquaculture; and (2) whose average annual gross income for the three preceding taxable years is at least 50 percent attributable to farming. Allows an investment tax credit in connection with property used in the trade or business of farming. Creates special rules to allow qualified farm property to be depreciated according to the accelerated cost recovery system in effect prior to enactment of the Tax Reform Act of 1986. Reduces the maximum tax rate applied to net capital gains realized from sales of timber: (1) from 28 percent to 20 percent with respect to sales by individuals; and (2) from 34 percent to 28 percent with respect to sales by corporations.
United States · United States Congress · 16 March 1989
Community Service Corps Act of 1989 - Title I: Community Service Corps - Establishes the Community Service Corps (CSC), to be administered by Federal agencies and through a State grant component. Directs the Secretaries of the Interior and of Agriculture to establish the Federal component of the CSC within their agencies to administer programs on Federal lands. Encourages Federal agencies to enter into program agreements with program agencies, local governments, and nonprofit organizations. Directs the Secretary of the Interior to establish a program of grants to States to administer the State component of the CSC involving work on non-Federal public lands and waters. Directs each Governor to designate a State program agency. Authorizes any local government to establish a program agency to carry out the State component within its political subdivision if the State program agency has not been designated at the commencement of a fiscal year. Requires States carrying out such programs to provide mechanisms for participation by local governments and nonprofit organizations. Authorizes the CSC to carry out conservation, rehabilitation, and improvement projects relating to: (1) wildlife habitat, rangelands, parks, recreational areas; (2) urban revitalization and historical and cultural sites; (3) fish and fisheries; (4) roads and trails; (5) erosion, floods, droughts, and storm damage assistance and control; (6) streams, lakes, waterfront harbors, and ports; (7) wetlands protection and pollution control; (8) insect, disease, rodent, and fire prevention and control; (9) improvement of abandoned railroad bed and right-of-way; (10) energy conservation, renewable resources, and biomass recovery; (11) reclamation and improvement of strip-mined land; and (12) forestry, nursery, and cultural operations. Limits such projects to those on public lands or Indian lands, except where the administering Secretary determines that a project involving other lands will provide a public benefit. Encourages any land or water conservation or related program administered in any State under authority of any Federal program to use CSC services. Sets forth formulas for allocation of authorized funds under this title. Title II: Youth Skills Enhancement - Requires the administering Secretary or the Assistant Director (as the case may be) to provide guidance and assistance to States in securing certification of training skills or academic credit for competencies developed under this Act. Directs each program agency to: (1) maintain or enhance, through programs and projects under this Act, the educational skills of program enrollees; (2) assess an entering enrollee's educational level; (3) use at least ten percent of program funds to provide in-service training and educational materials and services for enrollees and persons serving in such projects; and (4) use at least ten percent of program funds for post-service education and training assistance. Directs appropriate State and local officials to certify standards and procedures for awarding academic credit and certifying educational attainment in such programs. Requires such standards and procedures to specify that any person serving in a program or project under this Act: (1) who is not a high school graduate shall participate in an educational component progressing toward a high school diploma or its equivalent; and (2) may arrange to receive academic credit in recognition of learning and skills obtained from service satisfactorily completed. Title III: Administrative Provisions - Sets forth: (1) requirements for award of grants to eligible entities, including matching requirements and limitations on use of funds; and (2) provisions for approval of applications and supervision of programs. Limits enrollment in the CSC to individuals who, at the time of enrollment, are: (1) 16 through 25 years old (15 through 21 years old in summer programs); and (2) U.S. citizens or nationals or lawful permanent resident aliens. Requires that special efforts be made to recruit individuals who are economically, socially, physically, and educationally disadvantaged. Prohibits acceptance for service of any person without a high school diploma or equivalent, unless that person has not been enrolled as a high school student during the three months before the acceptance date. Limits individual enrollment to a total of 24 months. Prohibits individuals (except special members) from remaining enrolled after attaining age 26. Requires the State job training coordinating council to appoint an advisory board for oversight and review of projects under this Act. Authorizes appropriations for FY 1990 and succeeding fiscal years to carry out this Act.
United States · United States Congress · 16 March 1989
Oil Pollution Liability and Compensation Act of 1989 - Title I: Oil Pollution Liability and Compensation - Imposes joint, several, and strict liability for specified removal costs and damages upon the party responsible for a vessel or facility from which oil is either discharged into certain waters, or which poses a substantial threat of such a discharge. Exempts from such liability certain discharges permitted under Federal, State, and local law. Defines conditions under which a mobile offshore drilling unit will be treated as either a tanker or as a facility for purposes of determining responsibility or excess liability. Sets forth defenses to liability under this Act. Sets forth limits to liability under this Act, with specified exceptions. Authorizes the Secretary of Transportation to establish by regulation a maximum liability limit. Requires the Secretary to report to the Congress from time to time regarding liability adjustments. Declares that the responsible party or his guarantor shall be liable to the claimant for interest on the amount paid in satisfaction of a claim for a specified period. Defines circumstances under which liability for injury to natural resources shall be to either: (1) the United States; (2) the affected State; or (3) a foreign government. Sets forth recovery and indemnification procedures. Sets forth the uses of the Oil Spill Liability Trust Fund (the Fund) including: (1) payment of removal costs and administrative expenses; and (2) contributions to the International Fund. Sets forth defenses to liability for such Fund and a specified maximum amount which may be paid from the Fund. Confers rights of subrogation upon the United States for payment of any claim by the Fund. Sets forth a claims procedure for removal costs or damages. Requires the Secretary to designate the source of a discharge and to immediately notify the responsible party or guarantor of such designation. Grants subrogation rights to any person (including the Fund) who pays compensation under this Act to any claimant for costs or damages. Requires the party responsible for certain vessels over 300 gross tons to establish and maintain evidence of financial responsibility to meet maximum liability limits. Requires the Secretary of the Treasury to withhold or revoke the clearance of any vessel which fails to certify such financial responsibility. Sets forth circumstances under which such vessels may be denied entry into U.S. ports or waters or have their oil cargo seized. Imposes a civil penalty for failure to comply with the financial responsibility requirement. Restricts judicial review of any regulation promulgated under this Act to the Circuit Court of Appeals for the District of Columbia. Grants the district courts original jurisdiction over all actions arising under this Act. Sets forth a limitation period for actions for removal costs, damages, or contribution. Title II: Conforming Amendments - Sets forth conforming amendments to certain related statutes. Title III: Implementation of International Conventions - States that during any period in which the Civil Liability Convention and the Fund Convention are in force with respect to the United States, owner liability for pollution damage arising from a ship-related incident shall be determined according to such Conventions. Grants recognition to the International Oil Pollution Compensation Fund as a legal person under Federal law, and deems the Director of such Fund to have irrevocably appointed the Secretary of State as the Fund's agent for service of process for legal proceedings involving the Fund within the United States. Exempts such Fund and its assets from all direct taxation in the United States. Provides that certain required contributions with respect to oil received in the United States shall be paid to the International Fund from the Oil Spill Liability Trust Fund. Grants recognition to any final judgment of a court of any country which is a party to either the Civil Liability Convention or the Fund Convention. Sets forth the financial responsibility requirements of shipowners whose vessels are subject to the Civil Liability Convention. Imposes specified sanctions and civil penalties upon persons violating the financial responsibility requirements. Waives all U.S. defenses based upon sovereign immunity with respect to any controversy arising under the Civil Liability Convention or the Fund Convention relating to any ship owned by the United States and used for commercial purposes. Authorizes the Secretary to prescribe regulations to implement this Act and all Federal obligations under the specified Oil Pollution Conventions.
United States · United States Congress · 16 March 1989
Amends the Internal Revenue Code to increase from $50,000 to $150,000 the amount of employer-provided group-term life insurance that may be excluded from an employee's gross income.
United States · United States Congress · 16 March 1989
Working Family Child Care Assistance Act of 1989 - Amends the Internal Revenue Code to allow a taxpayer a refundable income tax credit of 14 percent of up to $7,143 of earned income (maximum credit of $1,000 per child) for each dependent under age four. Decreases the credit amount for taxpayers with adjusted gross income over $8,000. Indexes amounts related to the credit. Makes this credit and the employment-related dependent care credit mutually exclusive. Authorizes employers to make advance payments of credit amounts in accordance with regulations to be prescribed by the Secretary of the Treasury.
United States · United States Congress · 16 March 1989
Amends the Internal Revenue Code to make natural gas found in tight sands formations eligible for the income tax credit for producing fuel from a nonconventional source. Makes this credit permanent with respect to gas found in such formations and to gas produced from Devonian shale. Applies the nonconventional fuels tax credit to alternative minimum tax calculations.
United States · United States Congress · 15 March 1989
Working Family Child Care Assistance Act of 1989 - Amends the Internal Revenue Code to allow a taxpayer a refundable income tax credit of 14 percent of up to $7,143 of earned income (maximum credit of $1,000 per child) for each dependent under age four. Decreases the credit amount for taxpayers with adjusted gross income over $8,000. Indexes amounts related to the credit. Makes this credit and the employment-related dependent care credit mutually exclusive. Authorizes employers to make advance payments of credit amounts in accordance with regulations to be prescribed by the Secretary of the Treasury.
United States · United States Congress · 15 March 1989
Section 89 Small Business Relief Act of 1989 - Amends Internal Revenue Code provisions relating to the new nondiscrimination requirements for coverage and benefits under certain statutory employee benefit plans to: (1) exempt the plans of employers having fewer than 20 employees; (2) delay until 1991 the effective date of the requirements; (3) increase from 17 1/2 hours to 25 hours per week the threshold number of work hours triggering requirements with respect to part-time employees; (4) treat any plan that offers the same benefits to all employees as complying with requirements (under current law compliance is based on the number of employees participating in the plan); and (5) decrease from 80 percent to 65 percent the coverage requirement under the alternative coverage test.
United States · United States Congress · 15 March 1989
Amends the Internal Revenue Code to permit certain licensed used automobile dealers to use the installment method of accounting in connection with the retail sale of any automobile that is more than three years old at the time of the sale if: (1) the sales price is $6,000 or less; and (2) the installment obligation arises solely from the sale in question and has a term of 36 months or less.
United States · United States Congress · 15 March 1989
Research and Experimental Credit Extension and Reform Act of 1989 - Amends the Internal Revenue Code to make permanent the income tax credit for qualified research expenditures by repealing the provisions that would terminate the credit for expenses incurred or paid after 1989. Revises the method for computing: (1) base period research expenses, adding a factor reflecting the gross national product growth rate; and (2) the tax credit, adding an alternative computation component. Applies the credit to in-house research expenses that the taxpayer pays or incurs for the principal purpose of using the research results in the active conduct of a future trade or business.
United States · United States Congress · 15 March 1989
Calls for the rejection of any proposed legislation that would require mail-order companies to collect out-of-State sales taxes.
United States · United States Congress · 15 March 1989
Expresses the sense of the Congress opposing further restrictions on the mortgage interest income tax deduction.
United States · United States Congress · 15 March 1989
Veterans' Home Loan Mortgage Indemnity Act of 1989 - Establishes a Veterans' Mortgage Indemnity Fund. Provides that the Indemnity Fund shall be available to the Secretary of Veterans Affairs for all operations with respect to guaranteed or insured Department of Veterans Affairs housing loans for which fees are collected, other than loans for property which has been disposed of by veterans to purchasers who will assume liability for such loan. Provides that the following sums shall be credited to the Indemnity Fund: (1) all fees collected from such housing loans, other than loans for property which has been disposed of by the veteran to a purchaser who will assume liability for such loan; (2) .25 percent of the original amount of all loans for which a fee is collected for the first three fiscal years beginning with the fiscal year in which such fee is collected; (3) all collections of principal and interest and the proceeds from property held or disposed of with respect to such loans; and (4) all income from investments of the Indemnity Fund that are required to be made by the Secretary of the Treasury in obligations of the United States. Increases the fee for a Department housing loan to 1.25 percent of the total loan amount. Provides that the following fees shall be collected: (1) one percent of the total loan amount with respect to housing loans obtained which are in default; and (2) .75 percent of the total loan amount with respect to loans for purchase or construction for which a down payment of at least five percent of the total purchase price or construction costs has been made. Provides for the waiver of such fees for veterans who are receiving compensation and whose disability is rated at least 30 percent. Provides that the provision prohibiting fee collection with respect to all loans closed after September 30, 1989, shall apply after such date only to loans which are in default or loans for property which has been disposed of to another purchaser. Provides that any veteran who pays a fee for such loans, other than loans which are in default or loans for property which has been disposed of, or who is exempt from paying such fee, shall have no liability to the Secretary with respect to such loan for any loss resulting from a default of the veteran. Revises provisions regarding the Loan Guaranty Revolving Fund to: (1) provide that it shall be available to the Secretary for all housing operations except those carried out by the Indemnity Fund; (2) limit the deposit of housing loan fees in such Fund, other than fees for loans for property which has been disposed of, to fees collected before the effective date of this Act; and (3) limit the deposit of principal and interest and the proceeds from property held or disposed of with respect to housing loans to loans guaranteed before the effective date of this Act. Revises a provision authorizing the Secretary to sell notes evidencing loans which are in default to permit such sale only if the amount received at the time of the sale is at least 90 percent of the unpaid balance of such loan. Revises a provision regarding basic entitlement to housing loans to authorize the Secretary, in computing the amount of guaranty entitlement available to a veteran, to exclude the amount of entitlement used for any loan which has been repaid in full. Allows only the presence of fraud (currently, fraud, misrepresentation, material fault, or lack of good faith) as a bar to the waiver of recovery of payments, overpayments, or benefits made by the Department when the Secretary determines that recovery would be against equity and good conscience. Prohibits the Secretary, in waiving indebtedness following the default of a veteran on a housing loan, to base such waiver on the balancing of fault or on whether such veteran may be able to repay the indebtedness.
United States · United States Congress · 15 March 1989
Drug Abuse Treatment Technical Corrections Act of 1989 - Amends the Public Health Service Act to revise the formula for allotments to States and territories for alcohol and drug abuse and mental health services block grants. Authorizes the Secretary of Health and Human Services, notwithstanding specified provisions of the Public Health Service Act, with respect to FY 1989, to waive a requirement that certain amounts paid to a State for such block grants, obligated by the State, and remaining unexpended at the end of the fiscal year, remain available during the succeeding fiscal year. Authorizes the Secretary to waive the requirement in specified provisions regarding minimum expenditures by States for alcohol and drug abuse activities if the Secretary determines that the incidence of intravenous drug abuse in the State does not require the level of funding required in such provisions. Amends provisions requiring a set-aside of a portion of the block grant funds for programs and services for women to require that the focus be on alcohol and drug abuse. Declares that provisions requiring States to use a portion of the block grants for group homes for recovering substance abusers do not apply to any U.S. territory other than the Commonwealth of Puerto Rico. Prohibits an allotment of block grant funds from being made to a State unless its legislature holds public hearings on the proposed use and distribution of funds. (Current law requires such hearings after the first fiscal year in which a State receives an allotment under provisions relating to set-aside for an Indian tribe or tribal organization.) Amends the Public Health Service Act to authorize the Administrator of the Alcohol, Drug Abuse, and Mental Health Administration to establish program advisory committees and to pay members of the committees. Amends the Public Health Service Act to require the National Deafness and Other Communication Disorders Advisory Board to be established not later than April 1, 1989. Allows exclusion, in computing the maximum number of commissioned officers of the Public Health Service authorized by law to hold a grade corresponding to brigadier or major general, for officers assigned to duty with the Department of Defense. (Current law allows exclusion for such officers only if assigned to duty with the office of the Assistant Secretary of Defense for Health Affairs.) Amends specified provisions of the Stewart B. McKinney Homeless Assistance Act (McKinney Act) and the Public Health Service Act to read as if the amendments made by title VI (Revision and Extension of Programs of Health Care for the Homeless) of the Stewart B. McKinney Homeless Assistance Amendments Act of 1988 had not been enacted. Amends the McKinney Act so as to authorize appropriations for a National Mental Health Education Program rather than for community mental health services demonstration projects. Amends the Public Health Service Act to allow recipients of grants for health service delivery to homeless individuals to provide dental, vision, and podiatry services as well as mental health and other services.
United States · United States Congress · 15 March 1989
Amends the Internal Revenue Code with respect to the corporate income tax exclusion of contributions to the capital of the taxpayer. Includes as a qualifying contribution any amount of money or property received by a regulated public utility (a utility required to provide electric energy, gas, water, or sewage disposal services) that: (1) is a contribution in aid of construction (as defined by regulations to be promulgated by the Secretary of the Treasury); (2) meets certain expenditure requirements; and (3) is not included in the taxpayer's rate base. Excludes amounts paid as customer connection fees. Adds conditions under which a taxpayer will be treated as a material participant in a business or trade for purposes of passive loss rules affecting income tax liability. Amends accounting provisions to: (1) permit an exception from required application of the percentage completion method in the case of certain construction contracts for condominiums or cooperatives; and (2) apply the exemption of residential construction contracts from long-term contract accounting rules retroactively with respect to contracts entered into after February 28, 1986.
United States · United States Congress · 15 March 1989
Foreign Aid Impact Assessment Act - Requires the President to submit to the Congress, by December 31, 1989, and December 31 of each third year thereafter, a report analyzing the impact and effectiveness of U.S. economic assistance provided during the preceding three fiscal years. Directs that such report include for each recipient country: (1) an analysis of the impact of such assistance on the country's economic development, including a description of the specific objectives sought and the extent to which they were not achieved and why; (2) a description of the amount and nature of the assistance provided by other donors during that period; (3) a discussion of the commitment of the host government to addressing the country's needs in each development sector; (4) a description of the trends in each sector; (5) statistical and other information necessary to the evaluation; and (6) a comparison of the analysis provided in the report with relevant analyses by international or nongovernmental organizations or donor countries. Requires that each report: (1) be submitted to the Congress as a separate document; and (2) identify those countries in which economic assistance has been most and least successful, explain why the assistance was not more successful, and specify what the United States has done as a result.
United States · United States Congress · 15 March 1989
Amends the Internal Revenue Code to set as the amount of a qualified artistic charitable contribution for income tax deduction purposes the fair market value of the property contributed (determined at the time of contribution). Defines "qualified artistic charitable contribution" as the contribution of certain literary, music, artistic, or scholarly composition, letter or memorandum, or similar property. Disregard the deduction for qualified artistic charitable contributions when determining alternative tax itemized deductions.
United States · United States Congress · 15 March 1989
Amends Internal Revenue Code provisions relating to the income tax deduction for the health insurance costs of self-employed individuals to: (1) increase the allowable deduction from 25 percent to 100 percent; and (2) make the deduction permanent (under current law it will expire after tax year 1989).
United States · United States Congress · 15 March 1989
Amends the Internal Revenue Code to increase the excise tax on cigarettes from: (1) $8 to $20.50 per thousand for small cigarettes; and (2) $16.80 to $43.05 per thousand for large ones.
United States · United States Congress · 15 March 1989
Toddler Tax Credit Act of 1989 - Amends the Internal Revenue Code to allow an individual a refundable income tax credit for each dependent child under the age of five. Establishes credit amounts as the lesser of: (1) $2,000 or 27 percent of income below $10,000 for a single qualified dependent; or (2) $3,000 or 40 percent of such income for more than one dependent. Reduces the credit for taxpayers earning more than $10,000. Makes this credit and the employment-related dependent care credit mutually exclusive. Applies phase-in amounts for tax years beginning in 1990 through 1993. Indexes post-1994 credit amounts. Authorizes advance toddler tax credit payments by employers to employees who provide certification of eligibility. Requires taxpayers to file information returns to reflect these payments. Disallows the earned income tax credit to taxpayers eligible for the toddler tax credit. Reduces the amount of the dependent care credit for taxpayers with adjusted gross income above $50,000.
United States · United States Congress · 15 March 1989
Research and Experimental Credit Extension and Reform Act of 1989 - Amends the Internal Revenue Code to make permanent the income tax credit for qualified research expenditures by repealing the provisions that would terminate the credit for expenses incurred or paid after 1989. Revises the method for computing: (1) base period research expenses, adding a factor reflecting the gross national product growth rate; and (2) the tax credit, adding an alternative computation component. Applies the credit to in-house research expenses that the taxpayer pays or incurs for the principal purpose of using the research results in the active conduct of a future trade or business.
United States · United States Congress · 14 March 1989
Martin Luther King, Jr., Federal Holiday Commission Extension Act - Makes permanent the Martin Luther King, Jr. Federal Holiday Commission. (Current law terminates the Commission on April 20, 1989.) 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). Amends existing requirements to make the Commission's report on its activities reflect the most recent observance of the holiday. Replaces provisions requiring all expenditures of the Commission to be from donated funds with provisions authorizing appropriations for each fiscal year. Makes payment of expenses for Commission members and staff salary subject to the availability of funds.
United States · United States Congress · 14 March 1989
Biennial Budget Act - Amends the Congressional Budget Act of 1974 to revise the Federal and congressional budget processes by establishing a two-year budgeting and appropriations cycle and timetable, beginning in the 102d Congress. Defines the budget biennium as the two consecutive fiscal years beginning on October 1 of any odd-numbered year. Devotes the first session of any Congress to the budget resolution and to appropriations decisions, retaining current deadlines in most cases. Changes relevant deadlines as follows to conform to the biennial scheme: (1) from April 1 to March 31 for the Senate Budget Committee's report on the concurrent resolution on the budget; (2) from June 15 to September 30 for completion of congressional action on reconciliation legislation; and (3) from June 30 to September 30 for completion of congressional action on appropriations bills. Devotes each second session to authorization activity, subject to deadlines of: (1) May 15 for the submission of the Congressional Budget Office (CBO) report to the Budget Committees; and (2) the last day of the session for completion of congressional action on bills and resolutions authorizing new budget authority for the next biennium. Changes from January 15 to February 15 of each year the date by which the CBO Director must submit to the Congress a report on authorizations. Requires the Director of the CBO to issue four-year projections of congressional budget action. (Current projections are on a five-year basis.) Amends provisions relating to the reconciliation process to: (1) increase from 20 hours to 100 hours the time of debate permitted in the Senate with respect to reconciliation measures; and (2) make it out of order in both the House and the Senate to consider any reconciliation legislation changing any provision of law other than one relating to new budget or spending authority, revenues, or the public debt limit. Revises the extent of projections to be included in CBO analyses of reported bills. Amends Federal law to require the President's budget for a biennium to be set forth in the same accounts as those set forth in the table titled "The Federal Program by Agency and Account" in the budget submitted for FY 1991. Requires the President to consult with committees having jurisdiction over programs affected by proposed changes before any changes may be made in the budget tables. (Current law requiring consultation with the Budget and Appropriations Committees remains unchanged.) Conforms provisions governing the President's budget, including maximum deficit amount requirements, to the biennial framework. Changes the due date for the President's report on estimated budget outlays and proposed budget authority, making the report due at the same time as the President's budget. Requires the Joint Economic Committee to submit its evaluation of these estimates by February 25 of each odd-numbered year. (The current annual deadline is March 1). Directs the heads of Federal executive agencies, the Comptroller General, and the Directors of the Congressional Budget Office, the Office of Technology Assessment, and the Congressional Research Service to provide studies, analyses, reports, and other documentation concerning program administration to assist the standing committees of the House and the Senate having jurisdiction over the programs in question. Amends the Rules of the House of Representatives to conform to the biennial framework.
United States · United States Congress · 14 March 1989
Quality of Life Action Act - Declares that every adult American: (1) able and willing to earn a living has a right to a choice among opportunities for paid employment at decent wages or for self-employment; and (2) unable to work for pay has the right to an adequate standard of living that rises with increases in the health and productivity of the society. Directs all Federal agencies to plan and carry out their policies and programs so all adult Americans may exercise these rights. Prohibits the Federal Reserve System or any other Federal agency from promoting recession, stagnation, or unemployment as a means of reducing wages and salaries or inflation. Directs the President, in each annual budget and economic report submitted after the date of enactment of this Act, to transmit to the Congress a staged program: (1) to help establish and maintain conditions under which the rights set forth in this Act may be enjoyed; and (2) to implement the Government's economic and social obligations under the Employment Act of 1946, the Full Employment and Balanced Growth Act of 1978, the Charter of the United Nations, and the Charter of the Organization of American States. Sets forth program objectives, which include: (1) providing incentives for enlarging employment opportunities; (2) increasing the opportunities for part-time employment; (3) preventing or controlling inflationary tendencies; (4) providing improved Federal incentives for investment, expansion, and increased employment; and (5) promoting conditions for more self-empowerment by those victimized by discrimination. Requires such program to include policies and projects to: (1) achieve American leadership in goods production; and (2) develop American leadership in services. Requires such policies and projects to include Federal grants and other incentives for short-term and long-term public works planning. Sets forth eligibility requirements for such grants and incentives. Requires the Government to cooperate with the United Nations and foreign governments in developing an international community based on rising living standards. Directs the President and the Congress to review laws, regulations, and procedures which may interfere with this Act and propose necessary changes. Requires the Government to make financial support for the International Monetary Fund and the International Bank for Reconstruction and Development conditional upon the development and implementation of policies and procedures which will: (1) raise the standard of living in countries receiving assistance; and (2) contribute to the economic viability, credit worthiness, and ability to import goods and services to the United States. Requires the President to propose and promote international and regional conferences on unemployment and underemployment. Directs the President, in the first annual message at the beginning of the first session of the Congress after the enactment of this Act, to include specific proposals for a Conversion Planning Fund, to be administered by agencies determined by the President. Provides that such Fund shall promote short- and long-term plans for coping with declines in civilian or military activities by developing specific policies, programs, and projects (including feasibility studies, education, on-the-job training, and inducements for necessary and desirable labor mobility) for the expansion of economic activities in sectors where additional or improved goods or services are needed. Requires, in addition to such other funds as may be authorized, that such Fund include no less than one percent of the amount appropriated for military purposes during each subsequent year. Directs the President, as part of such annual program, to transmit to the Congress a short- and long-range schedule for implementing the purposes of this Act. Requires such schedule to include recommendations for restructuring Federal budget priorities to provide for: (1) reducing wasteful or unnecessary military expenditures; (2) increasing Federal revenues; (3) reducing the interest on the Federal debt; (4) using public and private pension funds to help attain the goals of this Act; and (5) promoting or creating development banks in areas of high joblessness and poverty. Requires the President to include recommendations for promoting education activities within each State. Requires the Joint Economic Committee to monitor actions proposed or taken under this Act. Requires that budgetary data for specific programs include evaluations and quantitative estimates of impacts on: (1) gross and net outlays computed in terms of estimates of the effects of paid employment on reducing outlays and increasing tax receipts; and (2) benefits and costs to society. Requires that each overall budget message from the President to the Congress be based on policies and programs to reduce unemployment.
United States · United States Congress · 14 March 1989
Amends the Internal Revenue Code to treat as a de minimis (nontaxable) fringe benefit 50 percent of the employer's share of an off-premises meal furnished to an employee if: (1) the employer does not operate an on-premises eating facility for employees; (2) the employer pays no more than one-third of the cost of the meal; (3) a maximum of one meal per working day is provided; and (4) the meal is furnished during normal business hours.
United States · United States Congress · 14 March 1989
Amends the Internal Revenue Code to establish in the Treasury the Crime Victims Compensation Trust Fund. Appropriates to it amounts equivalent to receipts generated from the excise tax on pistols and revolvers.
United States · United States Congress · 14 March 1989
Domestic Corporation Taxation Equality Act of 1989 - Amends the Internal Revenue Code to prohibit, with specified exceptions, the States from imposing tax on corporate taxpayers on a worldwide unitary basis, unless a taxpayer unconditionally elects to be taxed that way. Includes an express prohibition against the unitary method with respect to a domestic corporation whose average U.S. payroll, property, and sales represent less than 20 percent of its total payroll, property, and sales. Permits a State to tax dividends received by domestic corporations from their foreign affiliates only to the extent that the State excludes from the tax base of the U.S. corporation: (1) at least 85 percent of such dividends; or (2) the portion of such dividends that effectively bears no Federal income tax after application of the foreign tax credit.
United States · United States Congress · 14 March 1989
Amends the Internal Revenue Code to permit an additional standard deduction of $600 for a taxpayer or spouse who is deaf or who is a paraplegic, a quadriplegic, a hemiplegic, or an amputee.
United States · United States Congress · 14 March 1989
Amends the Internal Revenue Code to exclude from the gross income of an individual up to $10,000 of distributions from an individual retirement account or qualified pension plan used within 180 days to purchase a residence that will be the first residence in which the taxpayer has a present ownership interest. Reduces the excludible amount for taxpayers with adjusted gross income above $30,000 ($50,000 for joint returns). Exempts from the penalty tax on early distributions from qualified retirement plans comparable withdrawals used to purchase the first residence in which the taxpayer's child has a present ownership interest.