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101 records in US in 1998
United States · United States Congress · 9 October 1998
Grants a Federal charter to the National Teachers Hall of Fame, Incorporated (a tax-exempt organization incorporated under the laws of Kansas).
United States · United States Congress · 9 October 1998
Amends the Foreign Relations Authorization Act, Fiscal Years 1992 and 1993 to: (1) redesignate the North-South Center as the Dante B. Fascell North-South Center; and (2) rename the North-South Center Act of 1991 as the Dante B. Fascell North-South Center Act of 1991.
United States · United States Congress · 9 October 1998
Directs the Secretary of the Treasury to prepare a report on the current Federal program costs and Federal revenues attributable to the Commonwealth of Puerto Rico, including (among other matters) possible alternative forms of Federal taxation in the Commonwealth of Puerto Rico which will result in revenues equal to or exceeding the annual costs of the Federal Government in the Commonwealth of Puerto Rico.
United States · United States Congress · 9 October 1998
Amends the Internal Revenue Code to: (1) increase the dependent care tax credit; (2) make such credit a refundable credit; and (3) increase allowable dependent care expenses.
United States · United States Congress · 9 October 1998
Hope for Children Act - Amends the Internal Revenue Code to: (1) increase the amount allowable for qualified adoption expenses; (2) permanently extend the credit for adoption expenses; and (3) adjust the limitations on such credit for inflation.
United States · United States Congress · 9 October 1998
Extends the law making continuing appropriations for FY 1999 through October 12, 1998.
United States · United States Congress · 8 October 1998
TABLE OF CONTENTS: Title I: Facilitating Affiliation Among Securities Firms, Insurance Companies, and Depository Institutions Subtitle A: Affiliations Subtitle B: Streamlining Supervision of Financial Holding Companies Subtitle C: Subsidiaries of National Banks Subtitle E (sic): Preservation of FTC Authority Subtitle F: Applying the Principles of National Treatment and Equality of Competitive Opportunity to Foreign Banks and Foreign Financial Institutions Subtitle G: Federal Home Loan Bank System Modernization Subtitle H: Direct Activities of Banks Subtitle I: Deposit Insurance Funds Subtitle J: Effective Date of Title Title II: Functional Regulation Subtitle A: Brokers and Dealers Subtitle B: Bank Investment Company Activities Subtitle C: Securities and Exchange Commission Supervision of Investment Bank Holding Companies Subtitle D: Studies Title III: Insurance Subtitle A: State Regulation of Insurance Subtitle B: National Association of Registered Agents and Brokers Title IV: Unitary Savings and Loan Holding Companies Title V: Financial Information Privacy Title VI: Miscellaneous Financial Services Act of 1998 - Title I: Facilitating Affiliation Among Securities Firms, Insurance Companies, and Depository Institutions - Subtitle A: Affiliations - Amends the Banking Act of 1933 (Glass-Steagall Act) to repeal the prohibitions: (1) against affiliation of any Federal Reserve member bank with an entity engaged principally in securities activities (securities affiliate); and (2) against simultaneous service by any officer, director, or employee of a securities firm as an officer, director, or employee of any member bank (interlocking directorates). (Sec. 102) Amends the Bank Holding Company Act of 1956 (BHCA) to exempt from its prohibition against interests in nonbanking organizations the shares of any company whose activities had been determined by the Board of Governors of the Federal Reserve System (the Board), as of the day before the date of enactment of this Act, to be so closely related to banking as to be a proper incident thereto. (Sec. 103) Creates a statutory mechanism for the establishment of financial holding companies (FHCs) whose subsidiary depository institutions are well-capitalized and well-managed and meet other specified criteria. Instructs the Board to establish and apply comparable capital standards to a foreign bank with a subsidiary bank or commercial lending company in the United States. Permits an FHC and a Board-supervised investment bank holding company (BHC) to engage in any activity and acquire the shares of any company whose activities have been determined by the Board to be either financial in nature, or incidental to financial activities. Mandates consultation and coordination, according to specified guidelines, between the Board and the Department of the Treasury regarding determination of whether an activity is financial in nature, or incidental to financial activities. Includes among such activities any investments, lending, insurance, securities transactions, certain financial operations abroad, and ownership or control of banking interests. Requires an FHC to make assurances that risk management procedures adequately protect insured depository institution subsidiaries, including reasonable measures to preserve separate corporate identity and limited liability. Mandates notification to the Board of certain large business combinations with FHCs or wholesale FHCs. Cites circumstances under which an FHC (and its foreign counterpart) may engage in nonfinancial activities. Permits FHCs which were not BHCs or foreign banks before becoming FHCs to retain limited non-financial activities and affiliations. Sets forth cross-marketing restrictions for FHC-controlled depository institutions. (Sec. 104) Preempts State anti-affiliation laws restricting transactions among insured depository institutions, wholesale financial institutions, insurance concerns, and national banks. Cites exceptions to such preemption, especially for State regulation of the business of insurance, including the retention of State capitalization requirements for an insurance entity acquired by another entity, and specified consumer protections. Prohibits State regulation of the insurance activities of an insured depository institution or wholesale financial institution in any way that discriminates adversely between insured depository institutions or wholesale financial institutions and other entities engaged in insurance activities. (Sec. 105) Requires that mutual bank holding companies be regulated on the same terms as bank holding companies. (Sec. 106) Amends the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (RNIBBEA) to apply its prohibition against deposit production offices to interstate branches acquired or established under this Act, including all branches of a bank owned by an out-of-State BHC. (Sec. 107) Amends the Federal Deposit Insurance Act (FDIA) to apply to any branch of a bank controlled by an out-of-State BHC certain requirements for branch closures by an interstate bank. (Sec. 108) Authorizes well-capitalized and well-managed limited purpose banks to engage in any banking activity. (Maintains the restriction that such banks may accept demand deposits or make commercial loans, but not both.) Prohibits such banks from permitting any overdraft (including intraday overdrafts), or incurring overdrafts in their accounts at a Federal Reserve Bank, on behalf of an affiliate, with certain exceptions. Permits such banks to: (1) issue corporate credit cards; (2) cross market affiliates; and (3) avoid divestiture by correcting violations within six months of receiving notice from the Board. (Sec. 109) Directs the Federal Trade Commission (FTC) to present interim reports to the Congress regarding an ongoing multistage study of consumer privacy issues. (Sec. 110) Directs the Comptroller General to study and report to the Congress on the projected impact that the enactment of this Act will have on financial institutions with total assets of $100 million or less. Subtitle B: Streamlining Supervision of Financial Holding Companies - Prohibits the Board from imposing any capital or capital adequacy criteria upon a non-depository institution FHC subsidiary that is in compliance with State or Federal capitalization rules, or is registered under the Investment Advisers Act of 1940. Prohibits the Board, in developing capital adequacy requirements, from taking into consideration any affiliated investment company which is not a bank holding company nor controlled by one holding 25 percent or more shares of the investment company worth more than $1 million. (Sec. 111) Authorizes the Board to transfer its BHC oversight authority to the appropriate Federal banking agency if a BHC is not significantly engaged in non-banking activities. Mandates Board deference to the SEC and relevant State securities and insurance authorities with respect to interpretations and enforcement of activities (functional regulation) within their respective jurisdictions. (Sec. 112) Provides that a declaration filed by a company seeking to be an FHC shall satisfy BHC registration requirements but not any requirement to file an application to acquire a bank. Revises BHCA divestiture procedures to permit a BHC to elect divestiture of either a nonbanking subsidiary or an insured depository institution. (Sec. 113) Declares ineffective and non-enforceable any Board actions requiring an insurance company BHC or a registered securities broker-dealer BHC to provide assets to a subsidiary insured depository institution if the State insurance authority, or the SEC, determines in writing that such actions would have a material adverse effect on the BHC's financial condition. Permits the Board to order divestiture of the subsidiary in lieu of other action. (Sec. 114) Authorizes the Board to restrict relationships or transactions between: (1) a BHC depository institution subsidiary and its affiliates (other than a subsidiary of the institution); and (2) a foreign bank and its U.S. affiliates. (Sec. 115) Grants the SEC exclusive authority to examine and inspect any non-BHC registered investment company. Prohibits a Federal banking agency from inspecting or examining such a non-BHC company. (Sec. 116) Prohibits the Board from taking any action under the BHCA or the FDIA against a BHC-regulated subsidiary unless it is necessary to prevent or redress an unsafe or unsound practice or breach of fiduciary duty by the subsidiary that poses a material risk to the financial safety, soundness or stability of an affiliated depository institution or to the domestic or international payment systems. (Sec. 117) Declares it is the intent of the Congress that the Board and State insurance regulators should: (1) coordinate their respective supervision of companies that control a depository institution and a company engaged in insurance activities; and (2) share relevant information on a confidential basis (including information regarding the financial health of the consolidated organization, and transactions and relationships between insurance companies and affiliated depository institutions). States that Federal banking agencies for depository institutions should also share information with State insurance regulators on a confidential basis regarding transactions and relationships between depository institutions and affiliated companies engaged in insurance activities. Sets forth guidelines for such information exchange and confidentiality. (Sec. 118) Declares that BHCA restrictions placed upon Board authority over bank holding companies and their nonbank subsidiaries shall also limit the authority of the Comptroller of the Currency and the Director of the Office of Thrift Supervision with respect to such companies and their nonbank subsidiaries. (Sec. 119) Amends the FDIA to prohibit the use of the Bank Insurance Fund (BIF) and the Savings Association Insurance Fund (SAIF) to benefit any affiliates or subsidiaries of certain insured depository institutions in receivership, in default, or in danger of default, or of any insured depository institution in such circumstances that is acquiring another insured depository institution. Subtitle C: Subsidiaries of National Banks - Amends Federal law governing national banks to set forth conditions under which subsidiaries of well-capitalized, well-managed national banks may, with the Comptroller of the Currency's approval, engage in financial activities impermissible for a national bank. Sets parameters within which a national bank subsidiary may underwrite non-credit related insurance, or engage in real estate or development activities. Requires a national bank that establishes or maintains a financial subsidiary to implement specified safeguards. Empowers the Comptroller of the Currency to enforce such safeguards. (Sec. 121) Permits a national bank to hold an interest in a company wholly-owned by insured depository institutions or their subsidiaries, and which engages in agency activities permissible for financial subsidiaries of national banks. (Sec. 122) Amends Federal criminal law to proscribe misrepresentations regarding depository institution liability for obligations of affiliates. (Sec. 123) Amends the Federal Reserve Act to repeal: (1) the Board's power to restrict the percentage of individual bank capital and surplus represented by loans secured by stock or bond collateral; and (2) the Board's duty to establish such restrictions with a view to preventing the undue use of bank loans for the speculative carrying of securities. (Sec. 124) Sets forth rules governing transactions between financial subsidiaries of a bank and the bank, and between such subsidiaries and nonbank affiliates. (Sec. 125) Amends the BHCA of 1956 to mandate the prior approval of the Board of Governors of the Federal Reserve System for any action that causes any bank with consolidated assets of at least $15 billion (or any group of affiliated banks with combined assets of at least $15 billion) to cease to be controlled by any bank holding company, financial holding company, or wholesale financial holding company. Subtitle E (sic): Preservation of FTC Authority - Amends the BHCA to require the Board to notify the FTC of its approval of a proposed acquisition, merger, or consolidation which involves acquisition of nonbanking interests. (Sec. 142) Directs certain Federal banking agencies to make data available to the Attorney General and the FTC that they deem necessary for antitrust review under specified statutes. (Sec. 143) Excludes from FTC jurisdiction any nondepository institution subsidiary or affiliate of a bank or savings association. Amends the Clayton Act to apply its premerger notification and waiting period requirements to any portion of a merger or acquisition transaction that does require notice under BHCA but does not require approval. (Sec. 144) Instructs the Comptroller General to report annually to the Congress on market concentration in the financial services industry and its impact on consumers. Subtitle F: Applying the Principles of National Treatment and Equality of Competitive Opportunity to Foreign Banks and Foreign Financial Institutions - Amends the International Banking Act of 1978 (IBA) to terminate the grandfathered authority of a foreign bank or company under the IBA to engage in any financial activity, if it files a BHCA declaration to function as a qualified BHC (QBHC). (Consequently, foreign banks with grandfathered affiliates would be permitted to keep them on the same terms and conditions that govern domestic banking organizations.) (Sec. 152) Amends the FDIA to allow insured foreign banks and foreign wholesale financial institutions (WFIs) to terminate deposit insurance voluntarily in the same manner and to the same extent as insured State or national banks. (Sec. 153) Amends the International Banking Act of 1978 to authorize the Board to examine any affiliate of a foreign bank conducting business in any State in which the Board deems it necessary to determine and enforce compliance with Federal banking law. Subtitle G: Federal Home Loan Bank System Modernization - Federal Home Loan Bank System Modernization Act of 1998 - Amends the Federal Home Loan Bank Act (FHLBA) to expand Federal Home Loan Bank (FHLB) membership parameters to make a Federal savings association's membership in the FHLB system voluntary instead of mandatory. Permits such an association to withdraw its membership (currently such withdrawal is prohibited). (Sec. 164) Modifies guidelines governing long-term advances to: (1) allow advances to any community financial institution for small businesses, agricultural, rural development, or low-income community development lending; (2) make the cash (as well as the deposits) of an FHLB eligible collateral for securing a bank's interest in a loan or advance; and (3) repeal the 30 percent of capital cap on the aggregate amount of outstanding advances secured by real estate related collateral. Includes within the categories of collateral eligible for bank loan secured loans for small business, agriculture, rural development, or low-income community development, or securities representing a whole interest in such secured loans, in the case of any community financial institution. Authorizes an FHLB to renew certain advances on its own determination without concurrence by the Federal Housing Finance Board (FHFB). Requires an FHLB member with an advance secured by insufficient eligible collateral to reduce its level of outstanding advances according to a schedule determined by the FHLB (currently, by the FHF Board). Authorizes such Board to: (1) review the collateral standards applicable to each Federal home loan bank for designated classes of collateral; and (2) require an increase in such standards for safety and soundness purposes. (Sec. 165) Revises eligibility criteria to permit certain community financial institutions to gain FHLB membership regardless of the percentage of total assets represented by residential mortgage loans. (Sec. 166) Amends the FHLBA to increase from two years to four years the term of an elective director of a Federal home loan bank. Repeals the mandates for: (1) a procedure for informal review of certain supervisory decisions; and (2) the Housing Opportunity Hotline program. Repeals: (1) the prohibition against an FHLB's acquisition of a bank building by purchase or over ten-year lease; (2) the requirement for FHFB approval of personnel decisions as well as the exercise of corporate powers by any FHLB; and (2) authorization for an FHLB president to be a member of the FHLB board. Grants the FHFB power to: (1) issue charges upon an FHLB or any executive officer or director for violation of law or regulation in connection with the granting of any application or other request by the bank, or any written agreement between the bank and the FHFB, and take affirmative action to correct conditions resulting from violations or practices, or to limit FHLB activities; (2) address insufficiencies in capital levels resulting from automatic membership of a Federal savings association in the local FHLB; and (3) sue and be sued. Repeals FHFB jurisdiction to approve the granting by an FHLB of a member's application to secure an advance. Expands the mandate of FHLB Affordable Housing Programs to include providing subsidies (in addition to subsidized interest rates) on advances for member lending for low- and moderate-income housing. Authorizes each FHLB board of directors to approve member requests for Affordable Housing Program subsidies. Revises guidelines governing reserves and dividends to permit dividend payments out of previously retained earnings or current net earnings (currently, only out of net earnings). Repeals the requirement for: (1) FHFB approval for such dividend payments; and (2) investment of FHLB reserves exclusively in U.S. obligations or certain other Federal Government-related securities. (Sec. 167) States that FHLB payments to the Resolution Funding Corporation to cover interest payments on obligations shall be a specified percentage of net earnings (currently an aggregate sum certain). Subtitle H: Direct Activities of Banks - Amends Federal banking law to provide that limitations placed on securities transactions by a national banking association for its own account do not apply to State, local, or municipal bond transactions by a well-capitalized national banking association. Subtitle I: Deposit Insurance Funds - Directs the Board of Directors of the Federal Deposit Insurance Corporation to study and report to the Congress on specified issues regarding the BIF and the SAIF, including their safety and soundness, and the adequacy of their reserve requirements in light of mergers and consolidations within the industry. Subtitle J: Effective Date of Title - Sets forth the effective date of Title I of this Act. Title II: Functional Regulation - Subtitle A: Brokers and Dealers - Amends the Securities Exchange Act of 1934 (Exchange Act) to include certain bank activities within the definition of "broker" and "dealer" (thus subjecting them to registration requirements and regulation under the Exchange Act). (Sec. 203) Requires a registered securities association to create a limited qualification category, without a testing requirement, for certain bank employees effecting sales as part of a non-public primary securities offering (private placement sales). (Sec. 204) Amends the FDIA to direct the appropriate Federal banking agencies to: (1) promulgate regulations and complaint procedures applicable to retail transactions, solicitations, advertising, or offers of any security by any insured depository institution or affiliate other than a registered broker or dealer; (2) jointly establish a grievance process for customer complaints against banks or bank employees arising in connection with securities sales or purchases; and (3) establish recordkeeping requirements for banks relying on exceptions and exemptions from the definitions of broker and dealer under the Exchange Act. (Sec. 206) Defines traditional banking product, and amends the Securities Exchange Act of 1934 to define a new banking product as a security that: (1) was not subject to Securities and Exchange Commission (SEC) regulation as a security before enactment of this subtitle; and (2) is not a traditional banking product. Includes as a traditional banking product any product or instrument promulgated in the Federal Register by the Board of Governors of the Federal Reserve System to be a new banking product. Prescribes procedural guidelines under which the SEC may obtain judicial review of the Board's promulgation. Requires the court to determine whether the subject product or instrument would be more appropriately regulated under either Federal banking laws or Federal securities laws. (Sec. 207) Amends the Securities Exchange Act of 1934 to define: (1) derivative instrument so as to exclude a traditional banking product; (2) qualified investor; and (3) government security, so as to include a qualified Canadian government obligation. Subtitle B: Bank Investment Company Activities - Amends the Investment Company Act of 1940 to authorize the SEC to prescribe conditions under which a bank or its affiliate serving as promoter, organizer, or principal underwriter for a registered management company or a registered unit investment trust may also serve as custodian of such company or trust. Permits the SEC to bring a civil action against a custodian for a registered investment company for breach of fiduciary duty involving personal misconduct. (Sec. 212) Declares it is unlawful for an affiliate, promoter, or principal underwriter for a registered investment company to lend to it or its subsidiaries in contravention of SEC prescriptions. (Sec. 213) Modifies the definition of "interested person" to identify transactions, services, and loans taking place during the six months preceding determination of an interested person which would make a person an affiliated person of a broker or dealer. Prohibits a registered investment company from having a majority of its board of directors consisting of personnel or senior officers of the subsidiaries of any one bank, or of any single BHC, its affiliates and subsidiaries. (Sec. 214) Modifies guidelines pertaining to unlawful misrepresentation of guarantees and the deceptive use of names. (Sec. 215) Modifies the definition of "broker" to exclude any person who would be deemed a broker solely by reason of the fact that such person is an underwriter for one or more investment companies. (Sec. 216) Modifies the definition of "dealer" to exclude an insurance or an investment company. (Sec. 217) Amends the Investment Advisers Act of 1940 to modify the definition of investment adviser to remove the exclusion for banks that advise investment companies. Revises the definitions of broker and dealer. (Sec. 220) Mandates interagency sharing between the appropriate Federal banking agency and the SEC of examination results and other information pertaining to the investment advisory activities of a registered BHC and its separately identifiable departments or divisions. (Sec. 221) Amends the Securities Act of 1933 and the Securities Exchange Act of 1934 to revise the exclusion from their purview of certain bank common trust funds to specify the exclusion of any interest or participation in any common trust fund or similar fund that is excluded from the definition of "investment company" under the Investment Company Act of 1940. Amends the Investment Company Act of 1940 to revise such exclusion guidelines for certain bank common trust funds. (Sec. 222) Amends the Investment Company Act of 1940 to prescribe circumstances under which an investment adviser holding shares of an investment company in a fiduciary capacity must transfer the power to vote such shares to the beneficial owners or to another non-affiliated fiduciary. Subtitle C: SEC Supervision of Investment Bank Holding Companies - Amends the Securities Exchange Act of 1934 to permit certain investment bank holding companies that do not have a bank or savings association affiliate to elect SEC supervision. (Sec. 231) Provides for voluntary withdrawal from SEC supervision by specified investment bank holding companies. Sets forth the parameters of SEC supervision of investment bank holding companies, including authority to set capital adequacy standards. Instructs the SEC, in developing its rules, to consider use of debt and other liabilities (double leverage) by the supervised investment BHC in order to fund capital investments in affiliates. Prohibits the SEC from imposing capital adequacy requirements on regulated nonbanking entities (other than a broker or a dealer) that are in compliance with the capital requirements of another Federal regulatory body or State insurance authority. Mandates SEC deference to appropriate regulatory banking agencies and State insurance regulators with respect to the banking and insurance laws under their purviews. Grants the SEC backup inspection authority for certain wholesale financial holding companies for monitoring and compliance enforcement purposes. Subtitle D: Studies - Directs the Comptroller General to report to the Congress on the efficacy, costs, and benefits of requiring a federally-insured depository institution to disclose to its retail consumers through the use of a logo or seal that its investment or insurance products are not FDIC-insured. (Sec. 242) Directs the Comptroller General to report to the Congress regarding the efficacy and benefits of uniformly limiting commissions and costs incurred by customers in the acquisition of financial products. Title III: Insurance - Subtitle A: State Regulation of Insurance - Declares that the McCarran-Ferguson Act remains the law of the United States. (Sec. 302) Mandates: (1) State licensure of any entity providing insurance in a State as principal or agent; and (2) State functional regulation of insurance sales activity. (Sec. 304) Prohibits a national bank and its subsidiaries from providing insurance as principal in a State, except for certain authorized products (which may not include title insurance or taxable annuity contracts). (Sec. 305) Prohibits national banks and subsidiaries from selling or underwriting title insurance, except for certain grandfathered banks and subsidiaries already doing so. (Sec. 306) Establishes expedited dispute resolution for regulatory conflicts between State insurance regulators and Federal financial regulators. (Sec. 307) Requires each Federal banking agency to: (1) issue consumer protection regulations (including physical segregation of banking activities from insurance product activities); and (2) prohibit discrimination against victims of domestic violence. Expresses the sense of the Congress that the States should adopt regulations prohibiting such discrimination regarding insurance products that are at least as strict as those under this Act. Mandates that the Federal banking agencies jointly establish a consumer complaint mechanism to address violations of this Act expeditiously. (Sec. 308) Preempts State law restricting: (1) insurance companies or insurance affiliates from becoming a financial holding company or acquiring control of a bank; and (2) the amount of an insurer's assets that can be invested in a bank (except that the insurer's State of domicile may limit such investments to five percent (or any higher threshold) of the insurer's admitted assets). Preempts State laws that restrict reorganization by an insurer from mutual form to stock form. Subtitle B: National Association of Registered Agents and Brokers - Sets forth a regulatory framework for uniform multistate licensing for insurance sales practices, to take effect only if a majority of the States have not enacted uniform laws and regulations governing the licensure of insurance sales by individuals and entities within three years after enactment of this Act. (Sec. 322) Establishes the National Association of Registered Agents and Brokers (the Association) as a non-profit, non-Federal agency, to provide a mechanism for uniform licensing, appointment, continuing education, and other insurance producer sales qualification requirements which can be adopted and applied on a multistate basis, while preserving the right of States to regulate insurance producers and insurance-related consumer protection and unfair trade practices. (Sec. 324) Subjects the Association (which shall not be considered a Federal agency or instrumentality) to regulation by the National Association of Insurance Commissioners (NAIC). Requires the Association to establish an office of consumer complaints. Vests management of the Association in a board of directors. Cites circumstances under which Association rules preempt State regulation of insurance producers. Requires the Association to coordinate with the National Association of Securities Dealers in order to mitigate administrative burdens that may result from dual membership. Title IV: Unitary Savings and Loan Holding Companies - Amends the Home Owners' Loan Act to prohibit new affiliations between savings and loan holding companies and certain commercial firms, except in specified circumstances. (Sec. 402) Permits Federal savings associations to convert into national banks if the resulting bank meets all applicable financial, management, and capital requirements. (Sec. 403) Amends specified Federal law to declare that any depository institution the charter of which is converted from that of a Federal savings association to a national bank or a State bank after enactment of this Act may retain the term "Federal" in its name so long as it remains an insured depository institution. Title V: Financial Information Privacy - Financial Information Privacy Act of 1998 - Amends the Consumer Credit Protection Act to: (1) specify the types of enterprises constituting a financial institution within its purview; and (2) authorize the Federal Trade Commission (FTC) to prescribe regulations clarifying or describing the types of institutions which shall be treated as financial institutions for purposes of this Act. (Sec. 501) Declares it a violation of this Act to obtain or solicit customer information of a financial institution relating to another person under false pretenses with intent to deceive. Exempts from such proscription: (1) law enforcement agencies; (2) financial institutions engaged in testing security procedures, investigating misconduct or negligence, or recovering customer information obtained or received under false pretenses; as well as (3) customer information of financial institutions available as a public record under Federal securities laws. Grants the FTC, certain banking regulatory agencies, and the States enforcement powers under this Act. Subjects violations of this Act to Federal civil and criminal penalties. Requires each Federal banking agency to issue advisories to the depository institutions under its jurisdiction relating to the deterrence and detection of the activities proscribed by this Act. Requires the Comptroller General to report to the Congress: (1) on the efficacy and adequacy of the remedies provided in this Act addressing attempts to obtain financial information by fraudulent means or by false pretenses; and (2) any recommendations for additional action to address threats to the privacy of financial information created by such attempts. Title VI: Miscellaneous - Amends Federal criminal law to cite circumstances under which a court may direct disclosure of grand jury information concerning a banking law violation to certain personnel of a Federal or State financial institution. (Sec. 602) Expresses the sense of the Senate Committee on Banking, Housing, and Urban Affairs that: (1) the small business tax provisions of the Internal Revenue Code should be more widely available to community banks; and (2) in conjunction with any financial modernization legislation the Congress should amend the Code for certain purposes. Urges such legislation to: (1) increase the number of S corporation shareholders; (2) permit S corporation stock to be held in individual retirement accounts (IRAs); (3) clarify that interest on investments held for safety, soundness, and liquidity purposes should not be considered passive income; (4) provide that bank director stock is not treated as a disqualifying second class of stock for S corporations; and (5) improve the tax treatment of bad debt and interest deductions. (Sec. 603) Amends the Federal Deposit Insurance Act to specify circumstances under which the Secretary of the Treasury may: (1) approve an affiliation between a depository institution and the Student Loan Marketing Association (SALLIE MAE) solely in its reorganized, privatized status as "the Holding Company", not in its status as a government sponsored enterprise (GSE); and (2) impose affiliation terms and conditions, including restrictions upon either the issuance of debt obligations by SALLIE MAE in its GSE status, or upon the use of proceeds from such obligations. (Current law prohibits affiliations between depository institutions and GSEs). Limits the value of the investment portfolio of SALLIE MAE in its GSE status in the event such affiliation should occur to the lesser of: (1) its value upon enactment of this Act; or (2) its value on the date such an affiliation is consummated. Grants the Secretary enforcement powers under the Higher Education Act of 1965. (Sec. 604) Amends the BHCA of 1956 to repeal certain authority, requirements, and restrictions relating to insurance activities of savings bank subsidiaries of bank holding companies.
United States · United States Congress · 8 October 1998
Worksite Child Care Development Center Act of 1998 - Amends the Internal Revenue Code to provide a limited tax credit for employers who provide child care assistance for dependents of their employees. Terminates such credit for taxable years beginning after December 31, 2008.
United States · United States Congress · 8 October 1998
Vaccine Injury Compensation Program Modification Act - Amends the Public Health Service Act with regard to the National Vaccine Injury Compensation Program to eliminate the $1,000 threshold requirement for unreimbursable expenses in a petition for compensation for a vaccine-related injury or death. Amends the Internal Revenue Code to: (1) make rotavirus gastroenteritis a taxable vaccine for Federal sales tax purposes; and (2) limit the payment of compensation for vaccine-related injury or death to injury or death only from a vaccine which is taxable at the time it is administered (after September 30, 1988). Prohibits appropriations to the Vaccine Injury Compensation Trust Fund on and after any expenditure from the Fund which is not permitted by specified Federal law.
United States · United States Congress · 8 October 1998
Amends Federal transportation law to increase the authorization of appropriations for the National Highway Traffic Safety Administration's motor vehicle safety and information programs for FY 1999 through 2001.
United States · United States Congress · 8 October 1998
TABLE OF CONTENTS: Title I: Extension and Modification of Certain Expiring Provisions Subtitle A: Tax Provisions Subtitle B: Generalized System of Preferences Title II: Other Provisions Title III: Revenue Offsets Title IV: Technical Corrections Title I: Extension and Modification of Certain Expiring Provisions - Subtitle A: Tax Provisions - Amends the Internal Revenue Code (IRC) to temporarily extend the: (1) credit for increasing research activities; and (2) work opportunity credit. (Sec. 103) Amends the Taxpayer Relief Act of 1997 to permanently extend income averaging for farmers. (Sec. 104) Extends permanently the special rule for contributions of stock for which market quotations are readily available. Establishes rules for the public inspection of the returns of private foundations. (Sec. 105) Revises provisions concerning the special rule for income derived in the active conduct of banking, financing, or similar businesses to provide, as general rule, that foreign personal holding company income shall not include qualified banking or financing income of an eligible controlled foreign corporation. Revises the definition of insurance income and provides that, as a general rule, foreign personal holding company income shall not include qualified insurance income of a qualifying insurance company. (Sec. 106) Extends provisions which permit the disclosure of tax return information to the Secretary of Education with respect to taxpayers who have certain student loans. Subtitle B: Generalized System of Preferences - Amends the Trade Act of 1974 to extend the Generalized System of Preferences through December 31, 1999. Provides for the retroactive application of certain liquidations and reliquidations. Title II: Other Provisions - Requires a comprehensive study and report of recovery periods and depreciation methods under the accelerated cost recovery system. (Sec. 202) Amends the Agricultural Market Transition Act to disregard specified payment options provided by the Emergency Farm Financial Relief Act. (Sec. 203) Provides for the deduction of 100 percent of the costs of the health insurance of self-employed individuals by the year 2003 (currently, by the year 2007). (Sec. 204) Increases the State private activity bond volume limit to $75 per resident or an aggregate limit of $225 million by calendar year 2007. (Sec. 205) Increases by one percent, for 1999 and 2000, the estimated tax safe harbor for those individuals with incomes over $150,000. Title III: Revenue Offsets - Amends IRC provisions concerning the complete liquidations of subsidiaries to provide that if a corporation receives a distribution form a regulated investment company or a real estate investment trust which is considered as being in complete liquidation of such company or trust, then such corporation shall treat as a dividend from such trust or company an amount equal to the deduction for dividends paid allowable to such company or trust by reason of such distribution. (Sec. 302) Adds any vaccine against rotavirus gastroenteritis to the list of taxable vaccines. (Sec. 303) Modifies the definitions of "mathematical or clerical error" and "specified liability loss." Title IV: Technical Corrections - Revises provisions of the IRC, the Internal Revenue Service Restructuring and Reform Act of 1998, the Taxpayer Relief Act of 1997, the Tax Reform Act of 1984, and the Transportation Equity Act for the 21st Century.
United States · United States Congress · 8 October 1998
Public Safety and Community Policing Grants Reauthorization Act of 1998 - Reauthorizes funding under the Omnibus Crime Control and Safe Streets Act of 1968 for the "Cops on the Beat" grant program through FY 2005. (Sec. 3) Revises such Act to: (1) allow grants made for hiring or rehiring additional career law enforcement officers or to promote redeployment of officers by hiring civilians to be renewed for an additional three-year period beginning the fiscal year after the last fiscal year during which a recipient receives its initial grant; (2) allow grants made for hiring or rehiring additional career law enforcement officers, in a case in which a recipient's initial grant has expired prior to the date of this Act's enactment, to be renewed for an additional three-year period beginning the fiscal year after the date of this Act's enactment; and (3) authorize to be appropriated such sums as may be necessary to carry out this section (but in a case in which a recipient receives a grant for an additional three-year period, the amount for any additional years shall be increased by three percent to reflect a cost of living adjustment). (Sec. 4) Amends matching funds requirements to provide that, in relation to a grant for a period exceeding one year for hiring or rehiring career law enforcement officers, the Federal share shall decrease from year to year for each three-year grant period (currently, for up to five years). (Sec. 5) Repeals a $75,000 cap on funding for hiring or rehiring a career law enforcement officer.
United States · United States Congress · 8 October 1998
Amends the Internal Revenue Code to permit, without payment of the ten-percent additional tax on early distributions from qualified retirement plans and under specified conditions, early distributions from employee stock ownership plans for qualified higher education expenses and qualified first-time homebuyer purchases.
United States · United States Congress · 8 October 1998
Amends the Internal Revenue Code concerning: (1) the treatment of bonds issued to finance electric output facilities; and (2) the special rules for nuclear decommissioning costs.
United States · United States Congress · 8 October 1998
Trade Adjustment Assistance Reform Act of 1998 - Amends the Trade Act of 1974 to authorize appropriations to the Department of Labor for FY 1999 through 2003 for trade adjustment assistance (TAA) for workers. (Sec. 2) Repeals the North American Free Trade Agreement (NAFTA) Transitional Adjustment Assistance Program (effectively eliminating TAA for workers under such program). (Sec. 3) Revises requirements for the filing of petitions for TAA for a group of workers adversely affected by imports. Authorizes employers of such workers, one-stop career centers, or State employment agencies to file on their behalf with the Governor of the State (currently, with the Secretary of Labor) a petition for certification of eligibility for such assistance. Requires the Governor to: (1) transmit the petition to the Secretary immediately; (2) ensure that rapid response assistance and basic readjustment services are made available to the workers; and (3) assist the Secretary in the review of the petition. Requires the Secretary to review such petitions for certification of eligibility within 40 days (currently, 60 days) of its filing. (Sec. 4) Adds as a factor in the Secretary's determination of the eligibility of a group of workers for TAA any shift in production by such workers' firm to a foreign country of articles like or directly competitive with articles produced by such firm. (Sec. 5) Directs the Secretary to collect and maintain certain information with respect to certifications of TAA. (Sec. 6) Revises enrollment in training requirements with respect to the payment of TAA to adversely affected workers to set forth certain time periods during which such enrollment must occur. Authorizes the Secretary to issue a statement to a worker waiving the enrollment in training requirements if it is determined that such training requirement is not feasible or appropriate for the worker, based on specified factors. (Sec. 8) Increases from 14 to 30 the number of days an adversely affected worker may have a scheduled break in a training program and still be treated as participating in the program for purposes of TAA eligibility. (Sec. 9) Increases the total annual amount of payments for worker training from $80 million to $150 million for any fiscal year. (Sec. 11) Authorizes the Secretary to secure for adversely affected workers certain employment services, including services provided through one-stop career centers. Provides for the coordination of employment services for adversely affected workers under the Job Training Partnership Act and the Workforce Investment Act of 1998. (Sec. 12) Authorizes an adversely affected worker to file an application with the Secretary for the provision of supportive services, including transportation, child and dependent care, and other similar services. Sets forth specified conditions with respect to such services. (Sec. 14) Makes unappropriated Treasury funds available in any fiscal year that TAA funds become exhausted. (Sec. 15) Authorizes appropriations to the Department of Labor for FY 1999 through 2003 for TAA for firms. (Sec. 16) Establishes the Presidential Commission on Workers and Economic Change in the New Economy to study and report to the President and the Congress on matters relating to economic dislocation and worker adjustment to such dislocations. Authorizes appropriations.
United States · United States Congress · 8 October 1998
Sets forth the rule (modified closed) for the further consideration of H.R. 4274 (Departments of Labor, Health and Human Services, and Education, and related agencies appropriations).
United States · United States Congress · 7 October 1998
TABLE OF CONTENTS: Title I: Coastal Impact Assistance Title II: Land and Water Conservation Fund Reform Title III: Wildlife Conservation and Restoration Reinvestment and Environmental Restoration Act of 1998 - Title I: Coastal Impact Assistance - Coastal Conservation and Impact Assistance Act of 1998 - Establishes the Outer Continental Shelf Impact Assistance Fund (OCSIAF) to provide impact assistance to coastal States from a portion (27 percent) of allocable new OCS revenues (payments received by the United States as royalties, net profit share payments, and related late-payment interest from natural gas and oil leases under the Outer Continental Shelf Lands Act). Sets forth a formula for use by the Secretary of the Interior to determine the portion of the allocable share of new revenues attributable to each coastal State and county eligible to receive impact assistance payments. Mandates that such OCS funds be expended by the eligible coastal States and counties for certain environmental projects and activities. Requires: (1) an eligible county to submit for the Governor's approval a plan setting forth the projects and activities for which it proposes to expend OCSIA funds; and (2) the Governor of each recipient State to account to the Congress for all OCSIAF monies received for the previous fiscal year. Title II: Land and Water Conservation Fund Reform - Land and Water Conservation Fund Reform Act of 1998 - Amends the Land and Water Conservation Fund Act of 1965 (LWCFA) to require an amount equal to 16 percent of specified Outer Continental Shelf revenues to be deposited in the Land and Water Conservation Fund (LWCF) in the Treasury. (Sec. 203) Makes such funds available, without further appropriation, to carry out LWCFA for each fiscal year through FY 2015. Authorizes appropriations to maintain a certain minimum total annual income of the LWCF. Makes certain amounts covered into the LWCF available for expenditure without appropriation. Allocates such funds as follows: (1) 45 percent for Federal acquisition of certain lands, waters, or interests, with 25 percent of such Federal funds to the Secretary of Agriculture and 75 percent to the Secretary of the Interior; (2) 45 percent for financial assistance to the States for land acquisition, urban conservation, and recreation projects under specified LWCFA provisions, apportioning 60 percent of such State funds to all States equally, 20 percent on the basis of relative State population, and 20 percent on the basis of relative urban population; and (3) ten percent for local governments through the Urban Parks and Recreation Recovery Program of the Department of the Interior. Provides for an LWCFA allocation of funds to Indian tribes and Alaska Native Village Corporations. Requires States to make at least 50 percent of the annual State apportionment under LWCFA available as grants to local governments. Replaces, within a five-year period, LWCFA requirements for comprehensive State plans with requirements for State action agendas. Allows each State to define its own priorities and criteria for selection of outdoor recreation and conservation acquisition and development projects eligible for LWCFA grants so long as it provides for public involvement in this process and publishes an accurate and current State Action Agenda for Community Recreation and Conservation. Requires such Agendas to: (1) be strategic, originating in broad- based and long-term needs, but focused on actions that can be funded over the next four years, and be updated every four years; (2) consider all providers of recreation and conservation lands, and correlate with other State, regional and local plans for parks, recreation, open space, and wetlands conservation; (3) address wetlands as important outdoor recreation and conservation resources, and incorporate a State wetlands priority conservation plan consistent with the national plan developed under the Emergency Wetlands Resources Act; and (4) be guided in part by recovery action programs developed by urban localities under the Urban Park and Recreation Recovery Act. Revises LWCFA conditions for approval of conversions. (Sec. 204) Amends the Urban Park and Recreation Recovery Act (UPRRA) to provide (in addition to the current types of at-risk recreation grants and recovery action program grants) for matching capital grants to local governments in the form of: (1) development grants for development and construction on existing or new neighborhood recreation sites, including indoor and outdoor recreation facilities, support facilities, and landscaping, but excluding routine maintenance and upkeep activities; and (2) acquisition grants for purchasing new parkland to be permanently dedicated and made accessible for public recreation use. Revises UPRRA requirements for: (1) eligibility; (2) matching grants; (3) coordination; and (4) conversion approval. Repeals the limitation on the use of UPRRA funds for acquisition of land or interests in land. Title III: Wildlife Conservation and Restoration - Wildlife Conservation and Restoration Act of 1998 - Amends the Federal Aid in Wildlife Restoration Act (FAWRA) to require an amount equal to seven percent of specified Outer Continental Shelf revenues to be deposited in a new subaccount in the Federal aid to wildlife restoration fund (FAWRF), to be invested and to be made available without further appropriation, for apportionment in FY 2000 and thereafter for State wildlife conservation and restoration programs. (Sec. 306) Sets forth requirements for: (1) allocation of such subaccount receipts; (2) applications for approval of, and development grants for, State wildlife conservation and restoration programs; and (3) coordination. (Sec. 307) Allows certain subaccount funds for such a State wildlife conservation and restoration program to be used for law enforcement and public relations (Sec. 308) Prohibits a State from receiving FAWRA matching funds if it diverts any funds from wildlife conservation purposes.
United States · United States Congress · 7 October 1998
Amends the Internal Revenue Code to expand the definition of "qualified foster care payment" to include a payment received by a licensed placement agency. (Current law requires an agency which is not a State or local agency to be a tax-exempt agency.)
United States · United States Congress · 7 October 1998
TABLE OF CONTENTS: Title I: Agriculture, Nutrition, and Forestry Subtitle A: Elimination of Permanent Agricultural Price Support and Production Adjustment Authority Subtitle B: Phaseout of Peanut Program Subtitle C: Other Agricultural Commodities Subtitle D: Forestry Subtitle E: Other Agricultural Programs Title II: Energy and Natural Resources Subtitle A: Hardrock Mining Royalty Subtitle B: Other Energy and Natural Resources Programs Title III: Defense Title IV: Commerce, Science, and Transportation Saving Taxpayers from Obsolete Programs and Spending Act of 1998 - Title I: Agriculture, Nutrition, and Forestry - Subtitle A: Elimination of Permanent Agricultural Price Support and Production Adjustment Authority - Eliminates agricultural price support and production adjustment authority. (Sec. 102) Repeals the Agricultural Market Transition Act. Amends the Federal Agriculture Improvement and Reform Act of 1996 to repeal flood risk reduction authority. Amends the Food Security Act of 1985 to repeal conservation farm option authority. (Sec. 103) Repeals the Agricultural Adjustment Act of 1938. Amends the Food and Agriculture Act of 1965 to repeal transfer of acreage allotment authority. Amends Federal law to repeal Burley tobacco acreage allotment authority. Amends the Food and Agriculture Act of 1962 to repeal wheat diversion authority. Amends Federal law to repeal cotton acreage allotment authority. (Sec. 105) Repeals the Agricultural Act of 1949, with specified exceptions. Amends the Food and Agriculture Act of 1977 to repeal the American Agriculture Protection program. Amends the Agricultural Trade Act of 1978 to repeal agricultural embargo authority. Amends the Food, Agriculture, Conservation, and Trade Act of 1990 to repeal the integrated farm management program. (Sec. 106) Repeals the Agricultural Adjustment Act, reenacted with amendments by the Agricultural Marketing Agreement Act of 1937. (Sec. 107) Amends the Food Security Commodity Reserve Act of 1996 to repeal the comparability of storage payment provision. (Sec. 108) Amends the Food, Agriculture, Conservation,, and Trade Act of 1990 to repeal milk price support and related programs. Amends the Food Security Act of 1985 to repeal the dairy products incentive program. Amends the Food and Agriculture Act of 1962 to repeal the acreage diversion programs. (Sec. 110) Makes the provisions of this subtitle effective as of October 1, 2003. Subtitle B: Phaseout of Peanut Program - Chapter 1 - Marketing Quotas for Peanuts - Amends the Agricultural Adjustment Act of 1938 to: (1) revise peanut marketing program provisions for crop years 1999 through 2001; and (2) terminate peanut quotas as of crop year 2002. Chapter 2 - Market Transition Programs for Peanuts - Amends the Agricultural Market Transition Act to revise the market transition program for 1999 through 2001 crops of quota and additional peanuts. (Sec. 126) Revises nonrecourse loan provisions for the 2002 and subsequent peanut crops. Chapter 3 - Implementation - Sets forth implementation provisions. Subtitle C: Other Agricultural Commodities - Amends the Agricultural Act of 1949 to extend tobacco deficit reduction assessment authority. (Sec. 132) Amends the Agricultural Market Transition Act to reduce sugarcane (and sugar beet) loan rates through crop year 2002. Requires such loans to be recourse loans. Eliminates sugar price supports and loans as of crop year 2003. Amends the Agricultural Adjustment Act of 1938 to eliminate sugar marketing quotas and allotments. Subtitle D: Forestry - Amends the National Forest Management Act of 1976 to eliminate below-cost timber sales from National Forest System lands. (Sec. 143) Amends the National Forest Roads and Trails Act to eliminate purchaser road credits as a financing method for national forest road construction. Subtitle E: Other Agricultural Programs - Amends the Rural Electrification Act of 1936 to eliminate insured electric loan interest subsidies. (Sec. 152) Amends the Agricultural Trade Act of 1978 to repeal the market access program. (Sec. 153) Eliminates the Wildlife Services Program of the Animal and Plant Health Inspection Service. Title II: Energy and Natural Resources - Subtitle A: Hardrock Mining Royalty - Requires the payment of a royalty to the Federal Government of five percent of the net smelter return from the production of locatable minerals, or mineral concentrates derived from a locatable mineral, produced from any mining claim located under the general mining laws. Establishes the Abandoned Minerals Mine Reclamation Fund, into which all such royalty receipts (and mining claim maintenance fees) shall be deposited for the reclamation and restoration of land and water resources adversely affected by past minerals activities (other than coal and fluid minerals activities). Identifies the kinds of land and waters eligible for reclamation expenditures. Authorizes appropriations for the Fund. (Sec. 204) Restricts the issuance of any patents for mining or mill site claims to those for which applications were filed, and certain statutory requirements governing vein or lode claims, placer claims, and mill site claims were complied with, before September 30, 1994. (Sec. 205) Sets forth annual claim maintenance fee requirements (which shall not apply to oil shale claims subject to claim maintenance fees under the Energy Policy Act of 1992). Subtitle B: Other Energy and Natural Resources Programs - Amends the Reclamation Reform Act of 1982 to define the terms "legal entity," "operator," and "single farm operation." (Sec. 211) Directs the Secretary of the Interior, for each parcel of land to which irrigation water is delivered or proposed to be delivered, to identify a single individual or legal entity as the owner, lessee, or operator. Allows irrigation water to be delivered at less than the normal per-acre cost to either: (1) a qualified recipient that reports gross farm income from a single farm operation in excess of $500,000 per taxable year; or (2) a limited recipient that received such water on or before October 1, 1981, and that reports gross farm income in excess of such amount. Provides an inflation adjustment for calendar years after 1997. Requires lessees (as well as owners and operators) of an irrigation district to furnish such district a certification of compliance with the Act. Allows the Secretary to require a lessee or operator to submit for examination a copy of a tax return for any taxable year in which the single farm operation of the lessee or operator received irrigation water at less than full cost. Repeals a provision exempting district lands held in trust from Federal reclamation ownership and cost pricing limitations. Directs the Secretary to establish penalties for failure to comply with the Act. Directs the Secretaries of the Interior, of the Treasury, and of Agriculture to enter into a memorandum of understanding to permit the Secretary of the Interior to have access to and use available information collected or maintained by either the Department of the Treasury or Agriculture that would aid in enforcement of the ownership and pricing limitations of Federal reclamation law. (Sec. 212) Amends the Federal Land Policy Management Act of 1976 to direct the Secretary of Agriculture, with respect to National Forest lands in the 16 contiguous Western States, and the Secretary of the Interior, with respect to public domain lands, where domestic livestock grazing is permitted under applicable law, to establish and implement an annual domestic livestock grazing fee equal to fair market value, based on a specified formula. Abolishes grazing advisory boards. Dedicates the U.S. share of grazing fee receipts to: (1) fish and wildlife habitat restoration and enhancement; (2) restoration and improved management of riparian areas; and (3) enforcement of applicable land management plans, allotment plans, and regulations. (Sec. 213) Directs the Secretary of Energy to sell all federally- owned and operated electric power generation and transmission facilities under the supervision of, or in coordination with, a Federal power marketing administration. Instructs the Secretary to obtain the highest practicable sales price for the facilities, including the value of future tax revenues that would have been derived from such facilities. Postulates compliance with environmental laws as a condition of any facility purchase. Requires the Secretary to terminate Federal power marketing operations upon sales completion. (Sec. 214) Directs the Secretary to terminate each Department of Energy program or activity that involves pyroprocessing of plutonium. Makes conforming changes to the Energy Policy Act of 1992. (Sec. 215) Prohibits the Secretary from conducting any petroleum research and development, and to report to the Congress on the attendant termination implementation plan. Authorizes appropriations. Title III: Defense - Directs the Secretary of Defense (Secretary, for purposes of this title) to report to the Congress recommendations on which of the following tactical fighter aircraft programs should be terminated if only two of such programs were to be funded: the F-A 18E-F; the F-22; or the Joint Strike Fighter. Requires the Secretary to terminate the recommended program, allowing funds to be expended on such program only for termination costs. Authorizes the Secretary to increase the number of tactical aircraft to be acquired under existing (full-scale) production programs to offset the number which were planned to be acquired under the terminated program. (Sec. 302) Directs the Secretary to close the Uniformed Services University of the Health Sciences upon the completion of the education and training of those enrolled as of December 31, 1998. Prohibits new students from being enrolled after such date. Allows funds available for the University to be expended only for: (1) completing the education and training of such eligible individuals; and (2) closing the University. (Sec. 303) Prohibits the Secretary from obligating or expending any amount of funds available for FY 1999 through 2003 for a Department of Defense (DOD) program that exceeds that portion of the total program amount that represents an allowance needed to meet increased program costs due to inflation, fluctuations in foreign exchange rates, or fuel fluctuations, over the total amount necessary to meet such increased costs. Requires the Secretary to return any excess amounts to the Treasury. (Sec. 304) Limits to $400 million the total amount to be obligated in any fiscal year after 1998 for the Army Theater High Altitude Area Defense program. Prohibits any further obligation or expenditure of such funds until an independent panel established by the Secretary certifies to the Secretary and the Congress that such program is programmatically sound. (Sec. 305) Directs the Secretary of the Navy to require transportation by air for crew members joining a naval vessel deployed abroad unless such Secretary determines that: (1) another means of transportation would be more cost-effective; or (2) the benefits of air transportation are outweighed by safety concerns or concerns about adverse effects on military capabilities. Directs such Secretary to report to the Secretary of Defense on improvements in Navy power projection and power projection support capabilities that result from implementation of the air transportation policy. (Sec. 306) Directs the Secretary to ensure that DOD maintains the most cost-effective, safe, and reliable combination of delivery vehicles that: (1) is necessary to carry not more than the number of warheads agreed to in the START II Treaty; and (2) comprises a force structure that is treaty-compliant. (Sec. 307) Directs the Secretary to terminate the D5 missile program, allowing program funds to be used only for termination costs. (Sec. 308) Directs the Secretary to: (1) expeditiously review DOD inventory requirements to identify excess equipment and supplies; and (2) increase by 50 percent by the end of FY 2003 the total amount realized from sales of excess inventory over such total during FY 1998. (Sec. 309) Directs the Secretary to terminate the Navy's Extremely Low Frequency Communication System program, allowing program funds to be used only for termination costs. (Sec. 310) Directs the Secretary to require all the armed forces to use a single tactical aircraft pilot training program, and, by the end of FY 1999, to select one service branch to train such individuals. Authorizes the Secretary to waive such requirement in the interests of national security. Title IV: Commerce, Science, and Transportation - Directs the Administrator of the National Aeronautics and Space Administration to terminate U.S. participation in the International Space Station program. Authorizes the Administrator to obligate up to $700 million of such program's funds for termination costs.
United States · United States Congress · 7 October 1998
TABLE OF CONTENTS: Title I: Outer Continental Shelf Impact Assistance Title II: State, Local, and Urban Conservation and Recreation Title III: Wildlife Conservation and Restoration Conservation and Reinvestment Act of 1998 - Title I: Outer Continental Shelf Impact Assistance - Establishes the Outer Continental Shelf Impact Assistance Fund (OCSIAF) to provide impact assistance to coastal States from a portion (27 percent) of allocable new OCS revenues (payments received by the United States as royalties, net profit share payments, and related late-payment interest from natural gas and oil leases under the Outer Continental Shelf Lands Act). Sets forth a formula for use by the Secretary of the Interior to determine the portion of the allocable share of new revenues attributable to each coastal State and county eligible to receive impact assistance payments. Mandates that such OCS funds be expended by the eligible coastal States and counties for certain environmental projects and activities. Requires: (1) an eligible county to submit for the Governor's approval a plan setting forth the projects and activities for which it proposes to expend OCSIA funds; and (2) the Governor of each recipient State to account to the Congress for all OCSIAF monies received for the previous fiscal year. Title II: State, Local, and Urban Conservation and Recreation - Amends the Land and Water Conservation Fund Act of 1965 (LWCFA) to require an amount equal to 23 percent of specified Outer Continental Shelf revenues to be deposited in the Land and Water Conservation Fund (LWCF) in the Treasury. (Sec. 203) Makes such funds available, without further appropriation, to carry out LWCFA for each fiscal year through FY 2015. Authorizes appropriations to maintain a certain minimum total annual income of the LWCF. Makes certain amounts covered into the LWCF available for expenditure without appropriation. Allocates such funds as follows: (1) 42 percent for Federal acquisition of certain lands, waters, or interests, with 25 percent of such Federal funds to the Secretary of Agriculture and 75 percent to the Secretary of the Interior; (2) 42 percent for financial assistance to the States for land acquisition, urban conservation, and recreation projects under specified LWCFA provisions, apportioning 60 percent of such State funds to all States equally, 20 percent on the basis of relative State population, and 20 percent on the basis of relative urban population; and (3) 16 percent for local governments through the Urban Parks and Recreation Recovery Program of the Department of the Interior. Provides for an LWCFA allocation of funds to Indian tribes and Alaska Native Village Corporations. Requires States to make at least 50 percent of the annual State apportionment under LWCFA available as grants to local governments. Replaces, within a five-year period, LWCFA requirements for comprehensive State plans with requirements for State action agendas. Allows each State to define its own priorities and criteria for selection of outdoor recreation and conservation acquisition and development projects eligible for LWCFA grants so long as it provides for public involvement in this process and publishes an accurate and current State Action Agenda for Community Recreation and Conservation. Requires such Agendas to: (1) be strategic, originating in broad- based and long-term needs, but focused on actions that can be funded over the next four years, and be updated every four years; (2) consider all providers of recreation and conservation lands, and correlate with other State, regional and local plans for parks, recreation, open space, and wetlands conservation; (3) address wetlands as important outdoor recreation and conservation resources, and incorporate a State wetlands priority conservation plan consistent with the national plan developed under the Emergency Wetlands Resources Act; and (4) be guided in part by recovery action programs developed by urban localities under the Urban Park and Recreation Recovery Act. Revises LWCFA conditions for approval of conversions. (Sec. 204) Amends the Urban Park and Recreation Recovery Act (UPRRA) to provide (in addition to the current types of at-risk recreation grants and recovery action program grants) for matching capital grants to local governments in the form of: (1) development grants for development and construction on existing or new neighborhood recreation sites, including indoor and outdoor recreation facilities, support facilities, and landscaping, but excluding routine maintenance and upkeep activities; and (2) acquisition grants for purchasing new parkland to be permanently dedicated and made accessible for public recreation use. Revises UPRRA requirements for: (1) eligibility; (2) matching grants; (3) coordination; and (4) conversion approval. Repeals the limitation on the use of UPRRA funds for acquisition of land or interests in land. Title III: Wildlife Conservation and Restoration - Amends the Federal Aid in Wildlife Restoration Act (FAWRA) to require an amount equal to ten percent of specified Outer Continental Shelf revenues to be deposited in a new subaccount in the Federal aid to wildlife restoration fund (FAWRF), to be invested and to be made available without further appropriation, for apportionment in FY 1999 and thereafter for State wildlife conservation and restoration programs. (Sec. 305) Sets forth requirements for: (1) allocation of such subaccount receipts; (2) applications for approval of, and development grants for, State wildlife conservation and restoration programs; and (3) coordination. (Sec. 306) Allows certain subaccount funds for such a State wildlife conservation and restoration program to be used for law enforcement and public relations (Sec. 307) Prohibits a State from receiving FAWRA matching funds if it diverts any funds from wildlife conservation purposes.
United States · United States Congress · 7 October 1998
Amends Internal Revenue Code provisions concerning the credit for increasing research activities provisions to provide for an increased credit for qualified medical research expenses.
United States · United States Congress · 7 October 1998
Amends the Internal Revenue Code to: (1) exempt certain transactions at fair market value between partnerships and private foundations from the tax on self-dealing; and (2) require the Secretary of the Treasury to establish a procedure for exemption from such taxes.
United States · United States Congress · 7 October 1998
Seniors Real Property Tax Relief Act of 1998 - Amends the Internal Revenue Code to: (1) allow a deduction for State and local real property taxes paid by certain taxpayers aged 65 or older who do not itemize their deductions; and (2) provide for the establishment of "senior citizen real property tax accounts" (trusts created exclusively for the purpose of paying the qualified property tax expenses of qualified beneficiaries).
United States · United States Congress · 7 October 1998
Waives, for the remainder of the 105th Congress, requirements for printing (on parchment or otherwise) the enrollment of any bill or joint resolution making general or continuing appropriations for FY 1999.
United States · United States Congress · 7 October 1998
Sets forth the rule (closed) for the consideration of H.J. Res. 131 (waiving certain enrollment requirements for the remainder of the 105th Congress with respect to certain bills or joint resolutions).
United States · United States Congress · 7 October 1998
Waives points of order against the consideration of the conference report on H.R. 4104 (making appropriations for the Department of the Treasury, U.S. Postal Service, Executive Office of the President, and certain independent agencies).
United States · United States Congress · 6 October 1998
Individual Social Security Retirement Accounts Act of 1997 - Expresses the sense of the Congress that: (1) it is the right of American workers to choose to remain in the current social security retirement system and to be protected from that system's becoming insolvent; and (2) the Federal Government should take all necessary actions to guarantee that for those Americans that choose to stay in the current system there shall be no increase in the normal retirement age and no reduction in the amount of social security benefits that they will receive. (Sec. 4) Amends the Internal Revenue Code to reduce social security taxes for eligible individuals, whether employed by others or self-employed, who elect to participate in the Individual Retirement Program (IRP) created under a new part B of title II (Old-Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) (part B eligible individual). Reduces the employers' tax for employers of such individuals. Reduces such social security taxes applicable to employees and employers even further for each calendar year beginning after 2000. Leaves the respective tax rates at their current levels with respect to individuals who remain covered under the current OASDI program (redesignated as part A of SSA title II). (Sec. 5) Amends SSA title II to require, under new part B, that employers have in effect an individual retirement payroll deduction plan (IRPDP) for eligible employees who elect to enroll under it. Requires the plan to provide for employers to deduct five percent of the employee's wages, together with an employer contribution also equal to five percent of the employee's wages, for transfer to the employee's personalized retirement account (PRA). Provides for deduction of: (1) up to an additional 20 percent of the employee's wages for payment to the employee's PRA or to the PRA of the employee's spouse, child, or grandchild, or any combination the employee designates. Allows the employee to designate that no contributions be deducted after the balance in the employee's PRA equals the minimum retirement annuity amount. Requires self-employed individuals to contribute at least ten percent of their income to their designated PRA. Allows the contribution of up to another 20 percent to such PRA or to the PRA of the individual's spouse, child, or grandchild. Makes certain employees who have not attained age 62 and who are not entitled to OASDI disability benefits eligible to elect to enroll under new part B. Makes such an election irrevocable, except during its first ten years. Entitles to a supplemental minimum benefit payment any eligible individual who attains normal retirement age without distributing any amounts from his or her PRA, but has less in it than the minimum retirement annuity amount. Requires a trustee of a PRA to purchase, from amounts available in the account, disability insurance and preretirement survivor benefits for each account holder. Provides for the treatment of PRA assets in the event of a divorce. Sets forth penalties for failure to establish and maintain an IRPDP. Amends the Internal Revenue Code to require amounts deducted from employee wages to be shown on their wage receipts. Amends the Employee Retirement Income Security Act of 1974 (ERISA) to exempt IRPDPs from certain requirements for employee benefit plans. (Sec. 6) Amends the Internal Revenue Code to exclude from an individual's gross income: (1) any amount paid to a PRA as the employer's contribution; or (2) half of the amount paid to such an account of a self-employed individual. Exempts such accounts from taxation (except the excise tax on certain prohibited transactions, and the tax on unrelated business income of charitable, etc. organizations). Provides that no amount paid or distributed from a PRA shall be includible in gross income, with the same treatment generally applying for rollovers, disability insurance, and preretirement benefit policy premiums. Imposes an excise tax on excess contributions to an account. (Sec. 7) Amends SSA title II to declare that eligible individuals under new part B shall be deemed not entitled to OASDI benefits, unless such individual revokes his or her PRA enrollment election. (Sec. 8) Directs the Commissioner of Social Security to certify to the Secretary of the Treasury whether an eligible individual was credited with wages and self-employment income under SSA title II part A immediately before the first calendar year for which the individual may distribute amounts from a PRA. Declares that no eligible individual who has not attained age 30 shall be eligible for a contribution recognition bond. Provides that, immediately upon receipt of such certification, the Secretary shall issue a contribution recognition bond to the trustee of the individual's PRA. Defines a contribution recognition bond as consisting of an obligation of the United States to make monthly payments into a PRA in an amount equal to the individual's primary insurance amount. Provides for upward adjustments in the amount of such a bond for: (1) individuals who have attained age 50; and (2) individuals over 30 who have not yet attained age 50. (Sec. 9) Establishes an independent Federal Personal Retirement Investment Board for PRA administration. Directs the Board to submit to the Congress a legislative proposal for the establishment of an independent Federal Personal Retirement Deposit Corporation (similar to the Federal Home Loan Mortgage Corporation), which shall receive amounts received under an IRPDP and distribute them quarterly to PRAs under the management and supervision of approved qualified investment firms and financial institutions. Requires such legislative proposal to provide for: (1) the privatization of those divisions of the Social Security Administration (SoSA) that the Board and Commissioner of Social Security determine would be best suited to carry out the duties of the Corporation; and (2) the eventual dissolution of SoSA's retirement benefits division after all the population are eligible individuals for purposes of new part B. Authorizes appropriations. (Sec. 10) Establishes in the Treasury the Personalized Retirement Social Security Account. Directs the Secretary of the Treasury to: (1) transfer funds in such account to the Federal Old-Age and Survivors Insurance Trust Fund upon the request of the Managing Trustees of such Trust Fund; and (2) pay into such account annually at the end of each fiscal year from FY 1999 through 2008 amounts totalling, in the aggregate, the projected and actual surplus, if any, in the total budget of the Government for that fiscal-year period. (Sec. 11) Provides that the growth of each individual mandatory program, except social security, shall not exceed a level that is adjusted for beneficiary and inflation growth. Prohibits the congressional budget resolution for a fiscal year from providing mandatory funding levels that exceed such levels. Prescribes legislative procedures to enforce such prohibition. (Sec. 12) Limits to the level of FY 1998 expenses, minus 15 percent, the obligations or expenditures of executive and judicial branch entities for overhead expenses for FY 1999 through 2010. Mandates conforming reductions in discretionary spending limits for FY 1999 through 2010 for purposes of the Congressional Budget Act of 1974 and the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). (Sec. 13) Directs the President to reduce discretionary spending limits under the Gramm-Rudman-Hollings Act for FY 1999 by five percent, and for FY 2000 through 2009 to a level equal to the levels provided for FY 1999 after such five-percent reduction. (Sec. 14) Directs the President to sell, redeem, or otherwise dispose of federally-owned lands, loans, and other Federal assets so as to yield $268 billion, which shall then be deposited into the Personalized Retirement Social Security Account.
United States · United States Congress · 6 October 1998
TABLE OF CONTENTS: Title I: Domestic Violence Prevention Subtitle A: Housing for Victims of Domestic Violence Subtitle B: Victims of Abuse Insurance Protection Subtitle C: Access to Safety and Advocacy Subtitle D: Conforming Amendments Subtitle E: Battered Immigrants Women's Economic Security Title II: Violence Against Women and the Workplace Subtitle A: National Clearinghouse on Domestic Violence and Sexual Assault in the Workplace Grant Subtitle B: Victims' Employment Rights Subtitle C: Workplace Violence Against Women Prevention Tax Credit Subtitle D: Employment Protection for Battered Women Subtitle E: Battered Women's Shelters and Services Title III: Protections for Victims of Domestic Violence Under Programs Authorized Under the Social Security Act Battered Women's Economic Security Act - Title I: Domestic Violence Prevention - Subtitle A: Housing for Victims of Domestic Violence - Domestic Violence Victims' Housing Act -Authorizes increased budget authority under section 8 of the United States Housing Act of 1937 to be made available exclusively to public housing agencies and qualified nonprofit organizations solely to provide tenant-based assistance to families who must leave their residence as a result of domestic violence. Subtitle B: Victims of Abuse Insurance Protection - Victims of Abuse Insurance Protection Act - Prohibits insurers from engaging in specified discriminatory practices with respect to individuals who are, have been, or may be the subject of abuse or have incurred or may incur abuse-related claims. Prescribes confidentiality guidelines governing disclosure of an individual's abuse status. (Sec. 127) Prohibits subrogation of claims resulting from abuse without the informed consent of the subject of abuse. (Sec. 128) Grants the Federal Trade Commission authority to enforce this Act. Authorizes a private cause of action in State or Federal court by a subject of abuse who has been adversely affected by actions of an insurer in violation of this Act. Subtitle C: Access to Safety and Advocacy - Access to Safety and Advocacy Act - Authorizes the Attorney General to make grants to certain eligible grantees to provide legal assistance to domestic violence victims, regardless of sexual orientation or immigration status. (Sec. 137) Authorizes appropriations and prescribes allocation guidelines. Subtitle D: Conforming Amendments - Sets forth conforming amendments to specified Federal law. Subtitle E: Battered Immigrant Women's Economic Security - Amends title IV part A (Temporary Assistance to Needy Families) (TANF) of the Social Security Act (SSA) to create a special category of eligibility for non-213A aliens (aliens without a sponsor's affidavit of support) who fall within specified domestic violence guidelines. (Sec. 152) Amends the Immigration and Nationality Act to cite circumstances in which the Attorney General may waive: (1) deportability for certain aliens who are first time domestic violence offenders, and are current in their court-ordered child support payments; and (2) inadmissibility criteria for certain aliens who are battered spouses whose family members are U.S. citizens, or lawful permanent residents. (Sec. 155) Grants access to naturalization for divorced victims of domestic abuse. Empowers the Attorney General to grant employment authorizations to certain aliens who are victims of domestic violence and whose applications for immigrant status are pending. (Sec. 158) Amends the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (PRWORA), and the Housing and Community Development Act of 1980, to declare certain battered aliens eligible for food stamps and housing assistance, respectively. (Sec. 160) Amends the Social Security Act to preclude the collection of information concerning the immigration status of a parent applying for assistance on behalf of a qualified child. (Sec. 162) Amends PRWORA to permit a battered alien to continue after divorce to count the qualifying quarters worked by the spouse- batterer during the marriage, thus enabling such alien to receive certain public benefits. Title II: Violence Against Women and the Workplace - Subtitle A: National Clearinghouse on Domestic Violence and Sexual Assault in the Workplace Grant - Authorizes the Attorney General to award a grant to a private non-profit entity (including one within the boundaries of an Indian reservation) for the establishment and operation of a national clearinghouse and resource center to provide information and assistance to employer and labor organization efforts to aid victims of domestic violence and sexual assault. Authorizes appropriations. Subtitle B: Victims' Employment Rights - Victims' Employment Rights Act - Prohibits employer discrimination regarding conditions or privileges of employment predicated upon an employee's status as a victim of domestic violence, sexual assault, or stalking. Subjects a violator to liability for monetary damages, and for equitable relief, including reinstatement and promotion. Subtitle C: Workplace Violence Against Women Prevention Tax Credit - Workplace Violence Against Women Prevention Tax Credit Act - Amends the Internal Revenue Code of 1986 (IRC) to provide a workplace safety program tax credit for 40 percent of the costs incurred or paid by an employer for violence against women safety and education. Subtitle D: Employment Protection for Battered Women - Battered Women's Employment Protection Act - Amends the IRC to mandate unemployment compensation for an individual separated from employment as a direct result of a domestic violence experience. (Sec. 243) Amends the Social Security Act to mandate that claims reviewers and hearing personnel are trained in the nature and dynamics of domestic violence and in ascertaining and keeping confidential information about domestic violence experiences so that employee separations stemming from domestic violence are screened, identified, and adjudicated in full confidentiality. (Sec. 244) Amends the Family and Medical Leave Act of 1993 and the Federal Medical Leave Act to entitle to leave those employees who must address the effects of domestic violence. Subtitle E: Battered Women's Shelters and Services - Battered Women's Shelters and Services Act - Amends the Family Violence Prevention and Services Act to: (1) authorize increased appropriations and extend them through FY 2003; and (2) specify amounts for information and technical assistance centers, as well as for State domestic violence coalitions. (Sec. 253) Instructs the Secretary of Health and Human Services (the Secretary) to deny State demonstration grant applications that fail to document the specific involvement of the State domestic violence coalition and other knowledgeable entities in the development of the State application. Revises guidelines governing fund allotment and information and technical assistance centers. Instructs the Secretary to award grants to: (1) develop and implement model community intervention strategies to address domestic violence in underserved populations; (2) enable State domestic violence coalitions to provide emergency assistance through an emergency assistance fund administered by such coalitions for victims of domestic violence; and (3) State domestic violence coalitions for technical assistance and training. Title III: Protections for Victims of Domestic Violence Under Programs Authorized under the Social Security Act - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to prescribe guidelines under which the Commissioner of Social Security shall grant a properly verified request for a change of social security number submitted by a victim of domestic violence. (Sec. 302) Prescribes guidelines under which States may grant temporary good cause waivers of compliance to victims of domestic violence without jeopardizing State compliance with TANF requirements. (Sec. 303) Extends to any unreasonable risk posed to the health, safety, or liberty of a parent or child certain protections from information disclosure applying to the Federal Parent Locator Service and any State plan for child and spousal support. (Sec. 304) Prescribes guidelines under which the Secretary shall award bonus grants to States for high performance in implementing a program designed to enhance the ability of recipients of assistance to become economically self-sufficient. Authorizes appropriations.
United States · United States Congress · 6 October 1998
TABLE OF CONTENTS: Title I: Amendments to the Internal Revenue Code of 1986 Title II: Unemployment Trust Fund Accounts Title III: Grants to States for Employment Security Administration Title IV: Extended Unemployment Compensation Act of 1998 Title V: Federal Employment Security Service Title VI: Advances to State Unemployment Compensation Benefit Accounts Title VII: Conforming Amendments Employment Security Financing Act of 1998 - Title I: Amendment to the Internal Revenue Code of 1996 - Amends the Internal Revenue Code (IRC) Chapter 23 to revise Federal Unemployment Tax Act (FUTA) employer excise tax rate requirements. (Sec. 101) Repeals the 0.2 surtax for calendar years 2004 through 2007. (Ends the current FUTA employer tax rate of 6.2 percent of total employee wages after 2003, and begins a 6.0 rate in 2004.) Requires, for calendar year 2000 and thereafter, such FUTA tax, including accounts receivable from prior years, to be collected by the State agencies responsible for administration of the State unemployment compensation law as agents for the Secretary of the Treasury. Requires amounts collected by such State agencies to be deposited in: (1) the Employment Security Administration Account (the ESAA) within the Unemployment Trust Fund (the Fund), for years prior to calendar year 2003; and (2) the State's Employment Security Administration Account (State ESAA) within the Fund, for calendar year 2003 and thereafter. Requires amounts collected after January 1, 2000, by the Internal Revenue Service (IRS) to be deposited in the Employment Security Transition Account (Transition ESA) within the Fund. (Sec. 103) Sets forth additional requirements for approval of State laws. (Sec. 105) Revises the definition of State unemployment funds. (Sec. 106) Defines a State Employment Security Administration Account (State ESAA) as a special account within the Unemployment Trust Fund (the Fund) to provide administrative funds to pay the cost of services performed by the State agency in accordance with FUTA and the Social Security Act. (Sec. 107) Provides for collection of FUTA taxes by, as well as payment of FUTA taxes to, State agencies. (Sec. 109) Amends the IRC to repeal the prohibition against assessment of unpaid FUTA taxes. Title II: Unemployment Trust Fund Accounts - Amends title IX (Employment Security Administrative Financing) of the Social Security Act (SSA) to establish in the Unemployment Trust Fund (the Fund): (1) a State Employment Security Administration Account (State ESAA) for each State; (2) a Supplemental Employment Security Administration Account (Supplemental ESAA) for the administration of employment security programs, under FUTA and SSA titles IX and III (Grants to States for Unemployment Compensation Administration), by States whose average civilian labor force populations number less than one million; and (3) the Secretary of Labor Employment Security Administration Account (Labor Secretary ESAA) for the Secretary to carry out administrative duties under such SSA and FUTA provisions. Makes appropriations to the Fund for credit to such accounts according to specified formulas. (Sec. 201) Authorizes to be made available from State ESAAs, upon State request and subject to appropriation by the legislative body of each State, in addition to amounts otherwise appropriated by the Congress, special administrative funds for: (1) determining whether individuals claiming unemployment compensation under conforming State laws are available to accept suitable work and have not refused suitable work as prescribed by the State unemployment law; (2) job search and placement services to individuals claiming unemployment compensation benefits and other job seekers including counseling, testing, occupational and labor market information, assessment, and referral to employers; (3) appropriate recruitment services and special technical services for employers; and (4) collection of the FUTA tax imposed under IRC. (Sec. 202) Amends SSA title IX to repeal authority for the Employment Security Administration Account (the ESAA) in the Unemployment Trust Fund. (Sec. 203) Authorizes, for FY 2004 and thereafter, certain administrative expenditures from State ESAAs for: (1) State administration of unemployment compensation laws; (2) public employment services under the Wagner-Peyser Act; (3) certain veterans' programs; (4) collection of amounts due under FUTA; and (5) administration of statistical programs essential for development of estimates of the gross domestic product and other national statistical series, including those related to employment and unemployment. Provides for such expenditures upon State request, subject to appropriation by the State legislative body, in amounts up to 140 percent of the amount appropriated to the State agency from Federal employment security funds for the previous fiscal year. Authorizes $5 million out of the Supplemental ESAA for each of FY 2000 through 2003 for expenditures by States whose average civilian labor force populations number less than one million, for: (1) determining whether individuals claiming unemployment compensation under conforming State laws are available to accept suitable work and have not refused suitable work as prescribed by the State unemployment law; (2) job search and placement services to individuals claiming unemployment compensation benefits and other job seekers including counseling, testing, occupational and labor market information, assessment, and referral to employers; and (3) appropriate recruitment services and special technical services for employers. Authorizes, for FY 2004 and thereafter, expenditures out of the Supplemental ESAA by States whose average civilian labor force populations number less than one million, for the same administrative purposes for which expenditures from State ESAAs are authorized. Establishes the Council of States with Lesser Populations to determine the allocation methodology for and to allocate such amounts from the Supplemental ESAA, subject to appropriation by the legislative body of each State. Authorizes, for FY 2004 and thereafter, expenditures from the Labor Secretary ESAA, in amounts up to 140 percent of that appropriated for the prior year, for the Department's performance of functions for the same administrative purposes for which expenditures from State ESAAs are authorized, plus: (1) establishment and maintenance of the employment security system under the Wagner-Peyser Act; and (2) payments of the Federal share of annual amortization costs of the unfunded liability for the State employment security agencies with independent retirement plans as determined by the Secretary. Directs the Secretary of the Treasury, for FY 2004 and thereafter, to pay from the Labor Secretary ESAA into the Treasury the amount determined by the Secretary of Labor to be allocated to the Department of the Treasury to cover its costs for performing its functions under: (1) SSA titles III (Unemployment Insurance), IX (Employment Security), and XII (Advances to State Unemployment Funds), including the expenses of banks for servicing unemployment benefit payment and clearing accounts which are offset by the maintenance of balances of Treasury funds with such banks; (2) FUTA; and (3) any Federal unemployment compensation law with respect to which responsibility for administration is vested in the Secretary of Labor. (Sec. 204) Provides for transfer of amounts attributable to reduced credits to State ESAAs. (Sec. 205) Provides for advances from a revolving fund within the Federal Unemployment Account (FUA) to State ESAAs. (Sec. 206) Provides for treatment of excess amounts in State ESAAs. (Sec. 207) Requires that excess amounts in the Federal Unemployment Account (FUA) be transferred to State ESAAs according to a State allocation formula. (Sec. 208) Repeals a reporting requirement relating to transfers between FUA and the ESAA. (Sec. 209) Terminates the Extended Unemployment Compensation Account (EUCA). Transfers at the end of FY 2003: (1) excess EUCA amounts to State ESAAs, according to a specified formula; and (2) the remaining EUCA balance to the Unemployment Compensation Benefits Accounts of the States in the Fund, with specified exceptions where a State is ineligible. (Sec. 210) Provides for treatment of amounts elected by ineligible States. (Sec. 211) Revises SSA requirements relating to State use of certain funds (known as Reed Act funds) transferred to a State unemployment benefit account. (Sec. 212) Revises SSA provisions for the Unemployment Trust Fund (the Fund). Requires deposit into: (1) the State's Unemployment Compensation Benefit Account (UCBA) of contributions and payments in lieu of contributions under the State law; (2) the State ESAA of State agency collections under FUTA and of certain other transfers or deposits under SSA and FUTA; and (3) the Transition ESA of IRS collections under FUTA after January 1, 2000. (Sec. 213) Provides as separate book accounts in the Fund: (1) the Transition ESA; (2) each State UCBA; (3) each State ESAA; (4) the Supplemental ESAA; (5) the Labor Secretary ESAA; (6) the FUA; (7) the Railroad Unemployment Insurance Account; and (8) the Railroad Unemployment Insurance Administration fund. Establishes within the Fund an Employment Security Transition Account (Transition ESA) to: (1) receive IRS collections under FUTA; and (2) transfer such moneys to other specified accounts within the Fund. (Sec. 214) Revises SSA requirements for payments to State agencies and to the Railroad Retirement Board. (Sec. 215) Repeals provisions for the Extended Unemployment Compensation Account (EUCA). Sets forth the terms of transfer of EUCA funds to State UCBAs. (Sec. 216) Amends SSA title IX to repeal interfund borrowing authority with respect to the ESAA, FUA, EUCA, and other Federal accounts. Title III: Grants to States for Employment Security Administration - Repeals requirements for use and payments of specified available funds to assist States in administering their unemployment compensation laws, under SSA title III (Grants to States for Unemployment Compensation Administration). (Sec. 302) Revises requirements relating to: (1) certification of State laws; (2) limitations on use of State UCBA funds; and (3) proper use of administrative funds, and replacement of such fund expended for other purposes. (Sec. 303) Provides that States shall not be required to comply with the Secretary of Labor's interpretations of methods of administration requirements under SSA title III, if such interpretations impose additional administrative burdens on them, unless the Congress enacts legislation approving such an interpretation. Title IV: Extended Unemployment Compensation Act of 1998 - Extended Unemployment Compensation Act of 1998 - Amends the Employment Security Amendments of 1970 to revise the title II Extended Unemployment Compensation Program (currently the Federal-State Extended Unemployment Compensation Act of 1970), as of November 1, 2003. (Sec. 401) Includes such extended compensation program among State law requirements under FUTA. Requires the State law to establish within the State UCBA an extended compensation account for each eligible individual who files. Deems State laws certified as meeting requirements of the Federal-State Extended Unemployment Compensation Act on October 31, 1999, as meeting certification requirements under this title (EUCA98) for the year ending October 31, 2000, as long as the State law is not amended so as to conflict with the requirements of this title. Sets forth extended unemployment compensation program requirements for the extended benefit period, on-and-off-indicators, rate of insured unemployment, and covered employment. Title V: Federal Employment Security Service - Amends the Wagner-Peyser Act (WPA) to direct the U.S. Employment Security Service (USESS), as of October 1, 1999, to assist in coordinating public employment services throughout the country and assure that the requirements of SSA titles III and IX and of FUTA are met. (Eliminates current functions of the USESS as of such date.) (Sec. 503) Revises WPA requirements for: (1) transfer of USESS property to States; and (2) State use of public employment service funds. (Sec. 504) Repeals, as October 1, 2003, WPA provisions for: (1) Federal appropriations authority; (2) Federal use of funds; (3) State and Federal planning, fiscal controls, and accounting procedures; (4) the Secretary's authority to make rules and establish performance standards; and (5) authorization of appropriations to the Secretary to provide funds for reimbursable agreements with the States to operate certain statistical programs for estimates of gross national product and other national statistical series, including those related to employment and unemployment. Title VI: Advances to State Unemployment Compensation Benefit Accounts - Amends SSA title XII (Advances to State Unemployment Funds) to revise requirements for: (1) transfers from the Federal Unemployment Account (FUA) to State UCBAs; (2) State use of such transferred funds; (3) determination of interest rate on such advances to States; and (4) repayable advances to FUA. Title VII: Conforming Amendments - Makes conforming amendments to the Balanced Budget Act of 1997 (Public Law 105-33) and the Taxpayer Relief Act of 1997 (Public Law 105-34).
United States · United States Congress · 5 October 1998
Amends the Internal Revenue Code to permit the State of Hawaii, notwithstanding any law or rule of law, to claim a refund or credit resulting from any tax overpayment on fuel purchased by the State during calendar years 1992 or 1993, if a claim is filed within 18 months of enactment.
United States · United States Congress · 5 October 1998
Prohibits the imposition of any Federal income tax on any amount received by an individual as a result of any settlement or adjudication arising out of any injustice experienced by the individual as a Holocaust victim.
United States · United States Congress · 5 October 1998
TABLE OF CONTENTS: Title I: Findings; Need to Replace the Income Tax Title II: Simplified USA Tax for Individuals Title III: Simplified USA Tax for Business Title IV: Deferred Compensation Plans Title V: Repeal of Estate and Gift Taxes Title VI: Technical and Administrative Changes; Effective Dates Simplified USA Tax Act of 1998 - Title I: Findings; Need to Replace the Income Tax - Sets forth findings, the main features of the Simplified USA Tax System, and the concepts and structure of the Simplified USA Tax System. Title II: Simplified USA Tax for Individuals - Establishes a new chapter 1 of the Internal Revenue Code (IRC), "Simplified USA Tax for Individuals." Establishes tax rates at 15, 25, and 30 percent. Sets forth provisions defining gross income, exclusions from gross income, alimony and child support deductions, personal and dependency deductions, the family living allowance, the homeowner deduction, the education deduction (equal, as a general rule, to the sum of all qualified education expenses), the philanthropic transfer deduction, the kiddie tax (concerning taxable income of children), and tax credits (including allowing a payroll tax credit). Sets forth provisions concerning a Roth IRA, a deductible IRA, annuities, endowment contracts, and life insurance contracts. Permits contributions to a Roth IRA of up to the amount of an individual's adjusted gross income. Provides, as a general rule, for the exclusion from gross income of Roth IRA distributions. Sets forth provisions concerning basis, business transactions, and nonrecognition transactions. Establishes rules for exclusion from gross income, rules relating to deductions, and rules for the rental of real estate. Requires a trust or estate to prepay the Simplified USA Tax for individuals. Sets the tax rate at 30 percent on the taxable income of a trust or estate when the taxable income exceeds $3,800. Sets forth rules concerning trusts and estates, including rules for credits, deductions, trust income, distributions, beneficiaries, charitable remainder trusts, reversionary interests, and funeral trusts. Title III: Simplified USA Tax for Businesses - Renumbers the current chapter 2 (Tax on Self-Employment Income) of the IRC as chapter 3. Establishes a new chapter 2, "Simplified USA Tax for Businesses." States that the tax equals the amount by which the business tax exceeds the payroll tax credit. Defines the "business tax" as the sum of: (1) 8 percent of the portion of the gross profits of the business entity for the taxable year that does not exceed $150,000; and (2) 12 percent of such portion of the gross profits of the business entity for the taxable year that exceeds $150,000. Directs the Secretary to prescribe rules under which the gross profits of business entities under common control are aggregated for purposes of applying the benefit of the lower rate. States that such rules shall be similar to rules applicable under IRC sections 1551 (Disallowance of the benefits of the graduated corporate rates and accumulated credit) and 1561 (Limitations on certain multiple tax benefits in the case of controlled corporations). Defines the "payroll tax credit" as a credit for the social security, railroad retirement, and hospital insurance taxes paid by an employer. Sets forth subchapters governing: (1) the basic rules for the business tax; (2) capital contributions, mergers, acquisitions, and distributions; (3) accounting method rules; (4) land and rental property; (5) insurance and financial products; (6) financial intermediation and financial institutions; (7) tax-exempt organizations; (8) cooperatives; (9) sourcing rules; (10) business conducted in a possession; (11) the payroll tax credit; (12) the import tax (as a general rule, eleven percent of the customs value of property or services); and (12) transition, administration, and consolidated returns (permitted, if it would have been permitted under the IRC provisions governing consolidated returns and such provisions were applied by treating each business entity as a corporation and its owners or partners as shareholders). Repeals chapter 6 (Consolidated Returns) of the IRC. Title IV: Deferred Compensation Plans - Provides, in general, that subchapter D (Deferred Compensation) of chapter 1 of the IRC is saved. Title V: Repeal of Estate and Gift Taxes - Repeals Subtitle B (Estate and Gift Taxes) of the IRC. Title VI: Technical and Administrative Changes: Effective Dates - Renames the IRC the "USA Tax Code." Makes other amendments to the IRC which reflect the amendments made by this Act.
United States · United States Congress · 5 October 1998
Amends the Internal Revenue Code to modify the tax on commercial aviation to and from airports located on islands having a population of 20,000 or less.
United States · United States Congress · 5 October 1998
Waives points of order against the consideration of the conference report on H.R. 4194 (Departments of Veterans Affairs and Housing and Urban Development and independent agencies appropriations).
United States · United States Congress · 2 October 1998
TABLE OF CONTENTS: Title I: Asbestos Resolution Corporation Title II: Medical Eligibility Determinations Title III: Alternative Dispute Resolution Title IV: Civil Actions Title V: Rules Applicable to Arbitrations and Civil Actions Title VI: Funding Title VII: Applicability; Pending Civil Action Title VIII: Miscellaneous Provisions Fairness in Asbestos Compensation Act of 1998 - Title I: Asbestos Resolution Corporation - Establishes the Asbestos Resolution Corporation which shall: (1) have exclusive authority to adopt rules for cost recovery, physician qualifications, alternative dispute resolution, exceptional medical cases, and disease eligibility; and (2) appoint a Medical Advisory Board. Title II: Medical Eligibility Determinations - Sets forth claimant medical eligibility determination criteria for: (1) nonmalignant conditions; (2) mesothelioma; (3) lung cancer; and (4) other cancer. (Sec. 205) Sets forth procedures for Corporation determination of a claimant's certificate of medical eligibility. (Sec. 206) Directs the Corporation to establish one or more exceptional medical claims panels. Sets forth application and acceptance provisions. (Sec. 207) Provides for: (1) confidentiality; and (2) U.S. district court review of Corporation determinations of eligibility. Title III: Alternative Dispute Resolution - Directs the Board to establish procedural rules for an alternative dispute resolution process. Sets forth provisions regarding: (1) motions officers; (2) respondent notification; (3) additional respondents; (4) grace period; (5) mediation and arbitration; and (6) subpoena powers. Title IV: Civil Actions - Prohibits: (1) a civil asbestos action unless the plaintiff has obtained a certificate of medical eligibility and release from mediation; and (2) a class action or other collective action without the consent of each defendant. (Sec. 404) Requires a penalty for a final offer made by a respondent in mediation if such offer is below a certain amount assigned by the jury or fact-finder. Title V: Rules Applicable to Arbitrations and Civil Actions - Sets forth arbitration and civil action rules with respect to: (1) issues to be decided; (2) relief; (3) timeliness defenses; (4) attorney's fees; and (5) nonpreclusion of nonmalignant claims upon subsequent malignancy claims. Title VI: Funding - Directs the Corporation to estimate its annual medical review and administrative and overhead costs and allocate proportionate cost shares among the previous year's respondents. Provides monetary penalties for noncooperation with the Corporation. (Sec. 602) Provides for mediation and arbitration costs to be charged on a per capita basis to participating respondents. (Sec. 603) Directs the Corporation to establish procedures for informal resolution of cost assessment disputes. Provides for U.S. district court review of cost assessment disputes. (Sec. 606) Establishes the Asbestos Resolution Corporation Trust Fund and transfers to it amounts received under this title and other amounts. Authorizes obligation of Fund amounts consistent with this Act, to remain available without fiscal year limitation. Title VII: Applicability; Pending Civil Actions - Makes this Act applicable to any civil asbestos action that has not resulted in a final, nonappealable judgment, with specified conditions applicable to pending civil actions. Title VIII: Miscellaneous Provisions - Defines specified terms. (Sec. 803) Makes this Act inapplicable to existing asbestos trusts, with an elective trust exception.
United States · United States Congress · 2 October 1998
Amends the Internal Revenue Code to modify the tax on commercial aviation to and from airports located on islands having a population of 20,000 or less.
United States · United States Congress · 2 October 1998
Structured Settlement Protection Act - Amends the Internal Revenue Code to: (1) impose an excise tax on persons acquiring structured settlement payments in factoring transactions; and (2) set forth related reporting requirements.
United States · United States Congress · 2 October 1998
Amends part A (Temporary Assistance for Needy Families) (TANF) of title IV of the Social Security Act to make any State with an increase in child poverty of five percent or more in a fiscal year ineligible for a high performance bonus for the next fiscal year.
United States · United States Congress · 2 October 1998
Community Savings and Investment Act of 1998 - Amends the Internal Revenue Code to: (1) establish a separate tax rate for a qualified community lender; and (2) permit the exclusion from gross income of distressed community banking income. Defines terms.
United States · United States Congress · 2 October 1998
Exempts from Federal taxation any portions of amounts paid to David R. Kaczynski of Schenectady, New York, and his wife, Linda E. Patrik, for information leading to the arrest of Theodore J. Kaczynski in the "Unabomber" case which are used to: (1) pay attorney's fees in connection with the "Unabomber case"; or (2) benefit "Unabomber" victims and their families. Exempts from Federal taxation all such payments received by such victims and their families.
United States · United States Congress · 2 October 1998
Amends Internal Revenue Code provisions concerning the exclusion of gain from certain small business stock to, among other things: (1) increase from 50 to 75 percent the amount of gain excluded from the sale certain small business stock; (2) reduce from five to three years the holding period applicable to such a sale; (3) make such exclusion available to corporations; and (4) make the stock of larger businesses eligible. Doubles the annual limitation on incentive stock options.
United States · United States Congress · 2 October 1998
Amends the Internal Revenue Code to allow, when certain conditions are met, vendor refunds of Federal excise taxes on kerosene used in unvented heaters for home heating purposes.
United States · United States Congress · 2 October 1998
Waives points of order against the consideration of the conference report on H.R. 4101 (Agriculture, Rural Development, Food and Drug Administration, and Related Agencies programs appropriations).
United States · United States Congress · 1 October 1998
TABLE OF CONTENTS: Title I: Investigating and Punishing Violent Crimes Against United States Nationals Abroad Title II: Strengthening the Borders of the United States Title III: Denying Safe Havens to International Criminals and Enhancing National Security Responses Title IV: Responding to Emerging International Crime Threats Title V: Promoting Global Cooperation in the Fight Against International Crime Title VI: Streamlining the Investigation and Prosecution of International Crimes in United States Courts International Crime and Anti-Terrorism Amendments of 1998 - Title I: Investigating and Punishing Violent Crimes Against United States Nationals Abroad - Amends the Federal criminal code to prohibit, and set penalties for, committing or attempting to commit extortion against a U.S. national. Authorizes prosecution for homicide, an attempt or conspiracy to commit homicide, or acts of physical violence with intent to cause, or resulting in, serious bodily injury with respect to U.S. nationals abroad where the Attorney General or the highest ranking subordinate of the Attorney General with responsibility for criminal prosecutions certifies in writing that the offense was intended to further the objectives of an organized criminal group (currently, limited to circumstances where such actions were intended to coerce, intimidate, or retaliate against a government or a civilian population). Specifies that such certification shall not be subject to judicial review. (Sec. 102) Prohibits, and sets penalties for, the murder or serious assault of a State or local law enforcement, judicial, or other official abroad while such official is engaged in, or if the prohibited activity occurs on account of the performance by that official of, training or providing technical or other assistance to the United States or a foreign government in connection with any program funded by the Federal Government. Limits prosecution and judicial review under this section. Title II: Strengthening the Borders of the United States - Prohibits, and sets felony penalties for, violence committed while eluding inspection or during violation of arrival, reporting, entry, or clearance requirements, including conspiracy and reckless endangerment. Prohibits, and sets penalties for: (1) failing to obey an order to heave to on being so ordered by an authorized Federal law enforcement officer; and (2) failing to comply with an order of such officer in connection with the boarding of the vessel, impeding or obstructing a boarding, arrest, or other law enforcement action authorized by Federal law, or providing false information to such an officer during a boarding regarding the destination, origin, ownership, registration, nationality, cargo, or crew of the vessel. Authorizes: (1) a foreign country to consent or waive objection to the enforcement of U.S. law by the United States under this subtitle by international agreement or, on a case-by-case basis, by radio, telephone, or similar oral or electronic means; (2) the Secretary of State or his or her designee to prove a consent or waiver by certification; and (3) the seizure and forfeiture of a vessel used in violation of this subtitle. Title III: Denying Safe Havens to International Criminals and Enhancing National Security Responses - Amends the Immigration and Nationality Act (INA) to make inadmissible for a visa or for admission into the United States any alien coming to the United States to avoid lawful prosecution in a foreign country for a crime involving moral turpitude (other than a purely political offense). Provides for the removal of such aliens to the country seeking prosecution of that alien unless, in the Attorney General's discretion, the removal is determined to be impracticable, inadvisable, or impossible. (Sec. 302) Amends the INA to provide for the inadmissibility of persons: (1) involved in racketeering and arms (or explosive material) trafficking; (2) who have benefited from illicit activities of drug traffickers; and (3) involved in international alien smuggling. (Sec. 305) Authorizes the Attorney General, if a person is arrested or charged in a foreign country in connection with an offense that would give rise to the forfeiture of property in the United States under the code or under the Controlled Substances Act (CSA), to apply to any Federal judge or magistrate judge in the district in which the property is located for an ex parte order restraining the property subject to forfeiture for up to 30 days, subject to specified requirements. (Sec. 306) Expands the Secretary's administrative summons authority under the Bank Secrecy Act. (Sec. 307) Increases the civil penalty and the criminal fine for violations of the International Emergency Economic Powers Act. (Sec. 308) Amends the Trading With the Enemy Act of 1917 to cover attempted violations of the Act. Title IV: Responding to Emerging International Crime Threats - Authorizes the interception of wire, oral, or electronic communications when such interception may provide or has provided evidence of a felony relating to computer fraud and attacks on computer systems. (Sec. 402) Specifies circumstances under which a person who commits an offense outside the United States that would constitute fraud or another prohibited related activity in connection with an access device shall be subject to the penalties for such offense as if it were committed in the United States. Title V: Promoting Global Cooperation in the Fight Against International Crime - Authorizes the Attorney General or the Secretary, whenever property is civilly or criminally forfeited under any provision of Federal law, to transfer such property or proceeds to a cooperating foreign country which participated in the seizure or forfeiture of the property. (Sec. 502) Amends the Federal judicial code to authorize the Attorney General to present a request made by a foreign government for assistance with respect to a foreign investigation, prosecution, or proceeding regarding a criminal matter the execution of which requires the use of compulsory measures in more than one judicial district, to a judge or judge magistrate of any one of such districts or of the U.S. District Court for the District of Columbia. Grants such judge or magistrate the authority to issue orders to execute the request. Title VI: Streamlining the Investigation and Prosecution of International Crimes in United States Courts - Authorizes the Attorney General to obligate, as necessary expenses from any appropriate appropriation account available to the Department of Justice in FY 1998 or any fiscal year thereafter, the cost of reimbursement to State or local law enforcement agencies for translation services and related expenses, including transportation expenses, in cases involving extradition or requests for mutual legal assistance from foreign governments. (Sec. 602) Amends the Federal judicial code to establish procedures governing the admission of foreign records in U.S. courts. (Sec. 603) Prohibits a defendant from receiving credit for any time spent in official detention in a foreign country if: (1) the defendant fled from, or remained outside of, the United States to avoid prosecution or imprisonment; (2) the United States officially requested the defendant's return to the United States for prosecution or imprisonment; and (3) the defendant is in custody in the foreign country pending surrender to the United States for prosecution or imprisonment.
United States · United States Congress · 1 October 1998
Amends the Internal Revenue Code, concerning the active business definition relating to distributions of stock and securities of a controlled corporation, to require that all corporations that are members of the same affiliated group be treated as a single corporation.
United States · United States Congress · 1 October 1998
Prohibits the Secretary of the Treasury under provisions of subpart F (Controlled Foreign Corporations) of part III (Income from Sources Without the United States) of subchapter N (Tax Based On Income From Sources Within or Without the United States) of the Internal Revenue Code from, among other things, issuing either temporary or final regulations relating to the treatment of hybrid transactions. Requires a study and report concerning such transactions.
United States · United States Congress · 1 October 1998
Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts (except those derived from borrowing) for that fiscal year unless the Congress, by a three-fifths roll call vote of each House, authorizes a specific excess of outlays over receipts. Bars any surplus of receipts (including interest) over outlays of the Federal Old-Age and Survivors Insurance and the Federal Disability Insurance Trust Funds from being counted for purposes of this article. Requires any deficit of receipts (including interest) relative to outlays of such trust funds to be counted and to be completely offset by a surplus of all other receipts over all other outlays. Requires a three-fifths roll call vote of each House to increase the public debt. Directs the President to submit a balanced budget to the Congress. Prohibits any bill to increase revenue from becoming law unless approved by a majority of each House by a roll call vote. Authorizes the Congress to waive these provisions when: (1) a declaration of war is in effect; or (2) the United States is engaged in military conflict which causes an imminent and serious military threat to national security as declared by a joint resolution which becomes law. Allows any enforcement or implementation legislation of the Congress to rely on estimates of outlays and receipts. Makes this article effective beginning with FY 2002 or with the second fiscal year beginning after its ratification, whichever is later.
United States · United States Congress · 1 October 1998
Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts (except those derived from borrowing) for that fiscal year unless the Congress, by a three-fifths roll call vote of each House, authorizes a specific excess of outlays over receipts. Bars any surplus of receipts (including interest) over outlays of the Federal Old-Age and Survivors Insurance and the Federal Disability Insurance Trust Funds from being counted for purposes of this article. Requires any deficit of receipts (including interest) relative to outlays of such trust funds to be counted and to be completely offset by a surplus of all other receipts over all other outlays. Requires a three-fifths roll call vote of each House to increase the public debt. Directs the President to submit a balanced budget to the Congress. Prohibits any bill to increase revenue from becoming law unless approved by a majority of each House by a roll call vote. Authorizes the Congress to waive these provisions when: (1) a declaration of war is in effect; or (2) the United States is engaged in military conflict which causes an imminent and serious military threat to national security as declared by a joint resolution which becomes law. Allows any enforcement or implementation legislation of the Congress to rely on estimates of outlays and receipts. Makes this article effective beginning with FY 2002 or with the second fiscal year beginning after its ratification, whichever is later.
United States · United States Congress · 1 October 1998
Amends the State Department Basic Authorities Act to increase: (1) the maximum rewards for information concerning international terrorism; and (2) the authorization of appropriations, without fiscal year limitation, for use in the payment of such awards. Adds to the list of actions for which rewards are available the furnishing of information leading to the arrest or conviction in any country, or transfer to, or conviction by, the International Criminal Tribunal for the Former Yugoslavia, of any individual who is the subject of an indictment by the Tribunal for serious violations of international humanitarian law. Declares that all determinations of the Secretary of State under this Act shall be final and not subject to judicial review. Authorizes appropriations.
United States · United States Congress · 1 October 1998
City of North Las Vegas Public Land Acquisition Act of 1998 - Authorizes the Secretary of the Interior to dispose of specified lands under the jurisdiction of the Bureau of Land Management in Clark County, Nevada. Permits Nevada or the unit of local government in whose jurisdiction the lands are located, to elect to obtain any such lands for local public purposes. Requires the Secretary, upon application by a unit of local government or regional governmental entity, to issue right-of-way grants on Federal lands in Clark County, Nevada, for all reservoirs, canals, channels, ditches, pipes, pipelines, tunnels, and other facilities and systems needed for: (1) the impoundment, storage, treatment, transportation, or distribution of water (other than water from the Virgin river) or wastewater; or (2) flood control management. Directs that, of the gross proceeds of sales of lands in a fiscal year: (1) five percent be paid directly to Nevada for use in the State's general education program; (2) ten percent be paid directly to the Southern Nevada Water Authority for water treatment and transmission facility infrastructure in Clark County; and (3) the remainder be deposited in a special account for use pursuant to the special account provisions specified under this Act. Requires that, in the case of a land exchange, the non-Federal party provide direct payments to Nevada and the Southern Nevada Water Authority. Allows amounts deposited in the special account to be expended by the Secretary for: (1) the acquisition of environmentally sensitive land in Nevada, with priority given to lands located within Clark County; (2) capital improvements at the Lake Mead National Recreation Area, the Desert National Wildlife Refuge, the Red Rock Canyon National Conservation Area and other areas administered by the Bureau in Clark County, and the Spring Mountains National Recreation Area; (3) development of a multispecies habitat conservation plan in Clark County; (4) development of parks, trails, and natural areas in Clark County pursuant to a cooperative agreement with a unit of local government; and (5) reimbursement of costs incurred by the Bureau's local offices in arranging sales or exchanges under this Act. Requires the Secretary to: (1) coordinate the use of the special account with the Secretary of Agriculture, Nevada, local governments, and other interested persons to ensure accountability and demonstrated results; and (2) submit an annual report on all transactions under this Act to the Senate Committee on Energy and Natural Resources and the House Committee on Resources. Authorizes the Secretary to: (1) acquire with proceeds of the special account environmentally sensitive land and interests; and (2) transfer, upon request by a grantee of lands within Clark County that are subject to a lease or patent issued under the Recreation and Public Purposes Act, the reversionary interest in such lands to other non-Federal lands.