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Bill· HRH.R. 3859 (102nd)referred
United States · United States Congress · 21 November 1991
Amends the Internal Revenue Code to allow a capital gains deduction for individuals for assets held from two to six years. Disallows such deduction in computing the alternative minimum tax. Requires indexing, based on the consumer price index, of the adjusted basis of certain assets (corporate stock and tangible property that is a capital asset of property used in a trade or business after December 31, 1991) that have been held for more than one year at the time of sale or other transfer, solely for the purpose of determining gain or loss. Provides for the inflation adjustment treatment of: (1) short sales; (2) regulated investment companies and real estate investment trusts; and (3) partnerships, S corporations, and common trust funds. Prohibits gain from the sale or other disposition of an indexed asset from being taken into account under the limitation on investment interest.
Bill· SS. 1997 (102nd)referred
United States · United States Congress · 20 November 1991
Amends the Internal Revenue Code and the Social Security Act to exclude from the social security tax on self-employment income amounts received by a former insurance salesman after retirement if: (1) such amounts are deferred or renewal commissions on policies sold before retirement; and (2) such salesman was not an employee for tax purposes.
Bill· HRH.R. 3828 (102nd)open
United States · United States Congress · 20 November 1991
Earned Income Credit Simplification Act of 1991 - Amends the Internal Revenue Code to revise the calculation of the earned income credit by: (1) repealing the supplemental young child credit and the health insurance credit; and (2) increasing the credit percentage of the taxpayer's earned income.
Bill· HRH.R. 3824 (102nd)referred
United States · United States Congress · 20 November 1991
Real Estate Recovery Act of 1991 - Title I: Resolution Trust Corporation Refinancing - Resolution Trust Corporation Refinancing Act of 1991 - Amends the Federal Home Loan Bank Act to provide additional funding to the RTC to complete the resolution of failed thrifts. Increases the RTC working capital borrowing limit. Amends the Federal Deposit Insurance Act to extend until September 30, 1993, the period during which the Office of Thrift Supervision must appoint the RTC as conservator or receiver of failed thrifts. Title II: Restructuring of the Oversight Board and the Resolution Trust Corporation - Resolution Trust Corporation Restructuring Act of 1991 - Amends the Federal Home Loan Bank Act to limit the accountability of the Oversight Board to the performance of its duties under such Act. Revises the composition of the Board. Authorizes the RTC to develop and establish overall goals and policies and authorizes the Board to review and require modification of such goals and policies. Provides for the management of the RTC by its Board of Directors instead of the FDIC. Revises the composition of the RTC Board of Directors. Revises RTC personnel provisions with respect to the use of FDIC employees. Provides for the appointment of a chief executive officer to the RTC by the Oversight Board. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to provide for the rights of FDIC employees assigned to the RTC at the time of its termination. Authorizes the Oversight Board to remove the RTC Board of Directors for cause and to appoint a new Board of Directors. Title III: Reduction in Capital Gains Tax for Individuals - Amends the Internal Revenue Code to reduce the individual and corporate capital gains rate from 34 percent to 15 percent. Reduces such tax to 7.5 percent for low- and middle-income taxpayers. Requires indexing, based on the gross national product deflator, of the adjusted basis of certain assets (corporate stock and tangible property that is a capital asset of property used in a trade or business) that have been held for more than one year at the time of sale or other transfer, solely for the purpose of determining gain or loss. Provides for indexing the limitation on capital losses of noncorporate taxpayers. Amends the Internal Revenue Code to eliminate the age requirement (55 years or older) and years-of-residency requirement for eligibility with respect to the one-time income tax exclusion of gain from the sale of a residence. Title IV: Credit for Purchase of New Principal Residence - Amends the Internal Revenue Code to allow a tax credit for the purchase of a principal residence of five percent of the purchase price of such residence. Limits such credit to $2,000. Makes such credit applicable to new principal residences acquired after October 31, 1991, and before November 1, 1992. Title V: Enterprise Zones - Subtitle A: Designation -Authorizes the Secretary of Housing and Urban Development (Secretary) to designate enterprise zones for purposes of providing tax and regulatory relief and improving local services. Limits choices to areas nominated by States and local governments. Limits the total number of areas that may be designated, and the time period of the designation. Authorizes the Secretary to designate a zone only if the area meets certain locational, demographic, unemployment, and poverty criteria. Requires nominating local governments, as a condition of the Secretary's designation, to agree in writing to follow a course of action that may include reducing tax rates, improving local services, simplifying or streamlining regulation of business, and providing job training to area residents. Describes areas to which the Secretary must give preference in selecting areas for designation. Requires the Secretary to report to the Congress every two years on the effects of such enterprise zones' designation in accomplishing the purposes of this Act. Subtitle B: Federal Income Tax Incentives - Allows a nonrefundable income tax credit to enterprise zone employees for five percent of any wages earned as do not exceed a specified amount. Phases out such credit. Provides for the nonrecognition of capital gain on the sale of enterprise zone property. Allows a taxpayer a deduction on the aggregate amount paid for the purchase of enterprise stock on its original issue by a qualified issuer. Requires any gain from the disposition of the stock to be treated as ordinary income. Excludes enterprise zone capital gains from income computation of alternative minimum taxes. Subtitle C: Regulatory Flexibility - Amends Federal law to revise the definition of "small entity" for purposes of the analysis of regulatory functions to include qualified business, government, and nonprofit enterprises operating within enterprise zones. Authorizes Federal agencies, upon request by a designating government, to waive or modify rules and regulations pertaining to the implementation of projects or activities within an enterprise zone. Requires agencies to approve the request if the resulting benefits of job creation, community development, or economic revitalization outweigh the public interest in retaining the rule unchanged. Disallows waiver or modification of a rule that would directly violate a statutory requirement or present a danger to the public health and safety. Subtitle D: Establishment of Foreign-Trade Zones in Enterprise Zones - Requires the Foreign-Trade Zone Board to consider on a priority basis and to expedite the processing of applications for the establishment of foreign-trade zones within enterprise zones. Requires the Secretary of the Treasury to give priority to, and expedite applications for, the establishment of ports of entry necessary to establish such zones. Subtitle E: Repeal of Title VII of the Housing and Community Development Act of 1987 - Repeals title VII (enterprise zone development) of the Housing and Community Development Act of 1987. Title VI: Appraisal Requirements and RTC and FDIC Inventory Property - Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to extend until July 1, 1992, the requirement for State certified or licensed appraisers in connection with federally-related appraisals. Requires the Secretary of Housing and Urban Development to annually study the real estate market conditions within local market areas to determine whether the sale of inventory property by the Resolution Trust Corporation (RTC) and the Federal Deposit Insurance Corporation (FDIC) is affecting or will affect the value of real estate within such areas. Directs the RTC and FDIC, upon a positive determination by the Secretary, to withhold from sale or other disposition any inventory properties within the affected market areas. Title VII: Tax-Free Withdrawals From Individual Retirement Accounts for First Home Purchases - Allows penalty-free distributions from individual retirement accounts of up to 25 percent of the account limit for first-time homebuyers. Title VIII: Treatment of Rental Property Operations Under Passive Loss Rules - Amends the Internal Revenue Code to provide for the treatment of rental and nonrental real estate activities under the limitations on losses from passive activities. Title IX: Investment Tax Credit - Amends the Internal Revenue Code to allow a business expense deduction for up to $250,000 (currently, $10,000) of depreciable business assets if property is used as an integral part of manufacturing, production, or extraction. Reduces such allowance by the amount by which the cost of such property exceeds $1,000,000 (currently, $200,000) for a taxable year. Excludes such depreciation deduction from the alternative minimum tax. Title X: Freeze on Banks' Total Capital Standard - Declares that the minimum amount of total capital which any insured depository institution may be required to maintain shall not exceed 7.25 percent of the total assets of such institution. Title XI: Clarification of Treatment of Certain FSLIC Financial Assistance - Requires that, except in specified instances, FSLIC assistance be taken into account when determining losses or bad debts of savings and loans institutions (thus denying income tax deductions for losses or bad debts to the extent such assistance has compensated for them). Describes FSLIC assistance as money or property provided to a domestic building and loan association by the Federal Savings and Loan Insurance Corporation, the FSLIC Resolution Fund, or the Resolution Trust Corporation.
Bill· HRH.R. 3830 (102nd)referred
United States · United States Congress · 20 November 1991
Long-Term Care Insurance Standards Act of 1991 - Title I: Excise Tax on Nonconforming Long-Term Care Insurance Policies - Amends the Internal Revenue Code to impose an excise tax on long-term care insurance policies that do not conform to Federal standards established under title II of this Act. Requires such tax, equal to 50 percent of the premium, to be paid by the policy issuer. Title II: Federal Standards for Long-Term Care Insurance Policies - Amends the Social Security Act to add a new title XXI under which the Secretary of Health and Human Services is required to establish, review annually, and revise as necessary Federal standards for long-term (12 months or longer) care insurance policies that incorporate specified requirements relating to: (1) consumer disclosure; (2) benefits and eligibility, including restrictions on inflation adjustments and policy forfeiture; (3) premium increase limitations and policy renewability, conversion, and replacement; (4) policy issuance and sale, including prohibitions against the sale or issuance of a policy to a beneficiary under Medicaid or under Medicare (titles XIX and XVIII, respectively, of the Social Security Act) or a Medicare supplemental policy if benefits are duplicated; and (5) issuer reporting of information on policies, premiums, lapse rates, and denials of applicants and claims. Directs the Secretary to establish a procedure for certifying long-term care insurance policies as meeting Federal standards. Deems a policy issued in and approved by a State to be certified if (and for so long as) the Secretary determines that the State has en effective regulatory program that applies and enforces the Federal standards.
Bill· HRH.R. 3829 (102nd)referred
United States · United States Congress · 20 November 1991
Amends the Internal Revenue Code to allow an income tax deduction for up to $4,000 of cash contributions to a housing savings account established for the benefit of the taxpayer for the exclusive purpose of purchasing the taxpayer's first principal residence. Limits total deductions to $15,000. Prohibits an individual from being a beneficiary of more than one account. Requires contributions to be made for five consecutive taxable years. Excludes account distributions from gross income if they are used exclusively for the purchase of a first principal residence. Imposes penalties in the form of additional taxes on excess contributions to an account or when account funds or distributions are used for other than the legitimate purposes for which the account was established. Requires the account trustee to report to the Secretary of the Treasury and to the account's beneficiary on the maintenance of the account. Imposes a penalty for failure to file required reports. Exempts an account from taxation (except for the tax on unrelated business income of a charitable organization), unless the beneficiary engages in specified prohibited transactions in connection with it.
Bill· HRH.R. 3835 (102nd)referred
United States · United States Congress · 20 November 1991
Amends the Federal Election Campaign Act of 1971 to decrease the limitation on contributions to candidates for Federal office by a multicandidate political committee to $1,000 (currently, $5,000) in the case of a nonparty multicandidate political committee. Prohibits a nonparty committee from acting as an intermediary or conduit (to facilitate bundling) with respect to such contributions. Prohibits a candidate for Federal office from establishing, maintaining, financing, or controlling a political committee (leadership committee) other than the principal campaign committee. Amends the Internal Revenue Code to allow a tax credit for congressional campaign contributions to candidates for the House of Representatives. Limits the amount of such credit to $100 ($200 in the case of a joint return). Disallows the use of such credit by estates and trusts. Amends the Internal Revenue Code to repeal the minimum tax deduction based on intangible drilling cost preferences. Bases such tax deduction on 50 percent of the marginal production depletion preference.
Bill· HRH.R. 3827 (102nd)referred
United States · United States Congress · 20 November 1991
Amends the Internal Revenue Code to allow an individual income tax deduction for up to $2,000 annually of contributions to a savings account established to pay the educational expenses (tuition, supplies, meals, and lodging) of any individual under age 19 at an institution of higher education or a vocational school. Disallows the deduction for contributions to an account maintained for any individual aged 19 or older. Requires any account balance to be distributed after the beneficiary attains age 27. Excludes from gross income any account distributions that are used to pay educational expenses of the eligible beneficiary. Exempts an account from taxation (except for the tax on unrelated business income of a charitable organization) unless a contributor or the beneficiary engages in specified prohibited transactions in connection with it. Imposes a ten percent surtax on distributions not used for educational purposes. Requires the account trustee to report to the Secretary of the Treasury and to the account's beneficiary concerning the account. Imposes a penalty for failure to report. Allows taxpayers who do not otherwise itemize deductions to deduct for contributions to an education savings account. Imposes penalty taxes in connection with excess contributions or prohibited transactions associated with an account.
Resolution· HRESH.Res. 288 (102nd)open
United States · United States Congress · 20 November 1991
Sets forth the rule for the consideration of H.R. 3644 (presidential elections).
Bill· SS. 1985 (102nd)open
United States · United States Congress · 19 November 1991
Title I: Bankruptcy Review Commission - National Bankruptcy Review Commission Act - Establishes the National Bankruptcy Review Commission to investigate and report to the Congress, the Chief Justice, and the President on issues relating to business bankruptcies. Terminates the Commission after submission of such report. Authorizes appropriations. Title II: Commercial and Credit Matters - Amends Federal bankruptcy law to allow State pension funds and the Pension Benefit Guaranty Corporation (PBGC) to sit on creditor committees. Provides that filing of a petition in bankruptcy does not operate as an automatic stay of: (1) an audit by a governmental unit to determine tax liability; (2) the issuance to the debtor of a notice of tax deficiency; (3) of a demand for tax returns; (4) an assessment of an uncontested or agreed upon tax liability; of (5) withholding of income from a debtor's wages and collection of amounts withheld, pursuant to the debtor's authorization of such withholding and collection for the benefit of a pension or similar plan, to the extent the amounts withheld and collected are used solely as payments on a loan from such plan. Excludes from a debtor's estate any assets and benefits accumulated for the debtor's benefit under a pension or similar plan, as well as any rights of the debtor to such assets or benefits (thus resolving the "anti-alienation problem"). Deems perfected upon the filing of a petition in bankruptcy any cash collateral which is an interest in rents or leases, in real property, held by a creditor and duly recorded in the public records. Declares that a trustee in bankruptcy may not avoid a transfer: (1) if the transfer sought to be recovered to an insider is on account of goods or services sold and delivered to the debtor in the ordinary course of business; and (2) the transferee is deemed to be an insider solely because the transferee holds a guaranty of payment or performance from another insider of the debtor. Establishes the legal parameters under which a business debtor (or a party in interest) may elect to convert the case to bankruptcy proceedings customized to small businesses. Sets forth special temporary bankruptcy procedures for small businesses. Provides for three-year testing of such procedures in eight judicial districts. Codifies existing Federal law which authorizes a court to issue supplemental permanent injunctions barring claims against a reorganized debtor and redirecting such claims to a debtor-funded trust. Title III: Individual Debtors - Sets forth procedures by which regular income-earning debtors who go into straight bankruptcies under Chapter 7 may elect to go into Chapter 13 bankruptcies (thus having the opportunity to reorganize their debts and pay off their creditors over time). Requires that persons who file for bankruptcy be informed of the consequences of doing so. Requires final hearings on a petition for relief from the automatic stay to conclude within 60 days of the petition's filing, unless for good cause they cannot. Requires any hearing to reaffirm a debt to take place before the discharge being granted. Declares that a trustee's plan may not modify the claim of a person holding a primary or a junior security interest in real property or a manufactured home that is the debtor's principal residence. States that courts should begin making payouts under chapter 13 as soon as practicable. Sets forth additional conditions on the ability of a creditor to seek satisfaction of a debt from a codebtor on a debt stayed under chapter 13. Subrogates such codebtor's rights if the creditor's relief is granted. Title IV: Miscellaneous - Extends from October 1, 1993, until October 1, 1995, the bankruptcy provisions applicable to the debt adjustment of a family farmer with regular annual income. Provides various update modifications. Directs the Judicial Conference of the United States to report to the Congress on efforts to automate and computerize the bankruptcy courts and provide necessary information about the bankruptcy system. Title V: Technical Corrections - Sets forth technical corrections to affected legislation.
Bill· SS. 1984 (102nd)open
United States · United States Congress · 19 November 1991
Consumer Confidence and Financial Flexibility Act of 1991 - Amends the Internal Revenue Code to allow penalty-free withdrawals from qualified retirement plans beginning on the date of the enactment of this Act and ending on December 31, 1992, to purchase or improve real property or to purchase durable goods. Restricts such withdrawals to individuals whose adjusted gross income for 1991 does not exceed: (1) $100,000 in the case of married individuals filing a joint return; (2) $50,000 in the case of a married individual filing a separate return; and (3) $75,000 in the case of any other taxpayer. Limits the aggregate amount which may be treated as qualified withdrawals with respect to all plans of an individual to $10,000. Requires the inclusion of withdrawn amounts in gross income ratably over a four-year period. Provides for one-year extensions of the following: (1) rules governing the allocation of research and experimental expenditures; (2) the low-income housing credit; (3) the authority to issue mortgage revenue bonds and mortgage credit certificates; and (4) the targeted jobs credit.
Bill· HRH.R. 3813 (102nd)referred
United States · United States Congress · 19 November 1991
Misclassification of Employees Act - Title I: Amendments Relating to Internal Revenue Code of 1986 - Amends the Internal Revenue Code to provide for the waiver of employment tax liability for employers for any period if: (1) the employer did not treat an individual as an employee for purposes of employment taxes; (2) the treatment of such individual was based on a reasonable good faith misapplication of the common law rules used for determining the employer-employee relationship; (3) Federal tax returns for such period were filed on a basis consistent with the treatment of such individual as not being an employee; (4) the employer (and any predecessor) did not treat any other individual holding a substantially similar position as an employee for employment tax purposes after December 31, 1977; and (5) the employer enters into a closing agreement with the Secretary of the Treasury with respect to treating such individual as an employee. Amends the Revenue Act of 1978 to require an employer to have a reasonable basis for not treating an individual as an employee. Repeals the use of a prior audit as a reasonable basis. Removes the prohibition against regulations and rulings on employment status. Amends the Internal Revenue Code to provide for the determination of whether an individual is an employee of another person for purposes of unemployment compensation. Title II: Amendments to Federal Property and Administrative Services Act of 1949 - Amends the Federal Property and Administrative Services Act of 1949 to provide for the classification of persons as employees and independent contractors under certain procurement contracts for purposes of any employment tax. Title III: Amendments to Title 10, United States Code - Amends the military law to provide for the classification of persons as employees and independent contractors under defense contracts for purposes of any employment tax.
Bill· HRH.R. 3805 (102nd)referred
United States · United States Congress · 19 November 1991
Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 - Title I: Resolution Trust Corporation Refinancing - Amends the Federal Home Loan Bank Act to provide additional interim funding for the Resolution Trust Corporation (RTC). Amends the Federal Deposit Insurance Act to modify the terms under which the RTC shall be appointed receiver of a failed depository institution by the Director of the Office of Thrift Supervision. Amends the Federal Home Loan Bank Act to extend the receivership duties of the RTC. Title II: Restructuring and Improvement of the Resolution Trust Corporation - Modifies the guidelines for staffing the RTC. Establishes the office of chief executive officer of the RTC to be appointed by the President with the advice and consent of the Senate. Directs the Oversight Board to review overall strategies, policies, and goals established by the RTC for its activities. (Currently the Oversight Board establishes such strategies and goals.) Declares that the RTC shall be managed by its Board of Directors. Outlines the powers of the chief executive officer of the RTC. Title III: Minorities, Women, and Small Business Provisions - Sets forth guidelines for increased participation of minorities and women in the contracting process applied by the RTC. Authorizes the RTC to make available to any minority or women's depository institution the operation of a failed savings institution located in a predominantly minority neighborhood. Amends the Community Reinvestment Act to extend community investment credit to any depository institution which makes one of its branches in a predominantly minority neighborhood available to a minority or women's depository institution under certain circumstances. Amends the Federal Home Loan Bank Act to authorize the RTC, under certain circumstances, to provide assistance for minority-owned depository institutions and minority investors for the acquisition of any savings association for which it has been appointed conservator or receiver. Declares that a certain minority interim capital assistance program established by the Oversight Board is hereby established by law. Directs the RTC to provide assistance under such program for minority-owned depository institutions and minority investors for the acquisition of any savings association for which the RTC has been appointed conservator or receiver, and which before such appointment was not a minority-owned association. Extends the period for repayment of capital assistance under such program. Mandates an annual goal for the RTC that presents the maximum practicable opportunity for small business concerns (and those operated by socially and economically disadvantaged individuals) to participate in the performance of RTC contract awards. Title IV: Miscellaneous Housing Provisions - Amends the Federal Home Loan Bank Act to empower the RTC to develop risk sharing structures and other credit enhancements with respect to eligible residential properties in order to assist in the provision of property ownership, rental, and cooperative housing opportunities for lower- and moderate-income families. Requires the RTC to study and report to the Congress on the feasibility and efficacy of providing credit enhancements with respect to tax-exempt bonds issued on behalf of nonprofit organizations with respect to the disposition of eligible residential properties. Directs the Secretary of Housing and Urban Development to consider and accept a specified final statement of community development objectives and projected use of funds which the city of Petersburg, Virginia, is authorized to submit in connection with a grant under the Housing and Community Development Act of 1974. Title V: Resolution Trust Corporation Affordable Housing Program - Amends the Federal Home Loan Bank Act to prescribe guidelines for the disposition of eligible residential property (including condominiums) acquired by the RTC in its capacity as conservator or receiver and earmarked for lower-income occupancy. Authorizes the RTC to transfer such properties to qualifying households and for-profit entities for lower-income use, as well as to certain nonprofit organizations and public agencies.
Bill· HRH.R. 3822 (102nd)referred
United States · United States Congress · 19 November 1991
Amends the Internal Revenue Code to increase the limitation on the one-time exclusion of gain from the sale of a principal residence by an individual who has attained age 55 and provide a cost-of-living adjustment for such amount. Increases the unified credit against the estate tax and the unified credit against the gift tax and provides a cost-of-living adjustment for such credits. Reduces the capital gains tax for a taxpayer other than a corporation by allowing deduction of 50 percent of the net capital gain. Provides for computing such deduction for estates and trusts. Disallows such deduction against the minimum tax.
Bill· HRH.R. 3814 (102nd)referred
United States · United States Congress · 19 November 1991
Amends the Internal Revenue Code to allow tax-free withdrawals from individual retirement plans for the educational expenses of a child. Limits such withdrawals to $2,000 per year per child. Excludes such withdrawals from gross income determinations.
Bill· HRH.R. 3810 (102nd)referred
United States · United States Congress · 19 November 1991
Amends the Internal Revenue Code to provide an investment tax credit for manufacturing and other productive equipment. Provides for determining such credit.
Bill· HRH.R. 3823 (102nd)referred
United States · United States Congress · 19 November 1991
Medication Price Control Act of 1990 - Amends the Internal Revenue Code to disallow the credit for increasing research activities for any drug which is determined by the Food and Drug Administration to essentially duplicate in medical importance and therapeutic usage one or more already marketed drugs. Requires any taxpayer that claimed such a credit to notify the Secretary of the Treasury of such a determination through an information return. Disallows such research credit for taxpayers who charge an excessive price for any new therapeutic medication manufactured by the taxpayer.
Bill· HRH.R. 3815 (102nd)referred
United States · United States Congress · 19 November 1991
Amends the Internal Revenue Code to exclude from the gross income of a first-time homebuyer the amount of any individual retirement plan distributions used within a reasonable period to purchase, construct, or reconstruct a principal residence. Limits such distribution to the excess of $15,000 over the aggregated amount so treated for all prior taxable years. Excludes such distributions from the penalty for early withdrawals from retirement plans.
Resolution· HRESH.Res. 286 (102nd)passed
United States · United States Congress · 19 November 1991
Waives points of order against the consideration of the conference report on H.R. 2521 (armed forces funding).
Resolution· HRESH.Res. 285 (102nd)passed
United States · United States Congress · 19 November 1991
Waives points of order against the consideration of the conference report on H.R. 2038 (intelligence activities funding).
Bill· SS. 1983 (102nd)referred
United States · United States Congress · 18 November 1991
Prohibits the Secretary of Health and Human Services from implementing any final regulation prior to September 30, 1992, changing the treatment of voluntary contributions, provider-paid taxes, or transfers of intergovernmental taxes utilized by States to receive Federal matching funds under title XIX (Medicaid) of the Social Security Act. Provides that such delay in implementation shall not apply with respect to amounts expended as medical assistance in States which did not have a program that uses voluntary contributions, provider-paid taxes, or transfers of intergovernmental taxes as medical assistance under Medicaid as of November 15, 1991.
Bill· HRH.R. 3798 (102nd)referred
United States · United States Congress · 18 November 1991
Real Estate Recovery Act of 1991 - Title I: Reduction in Capital Gains Tax for Individuals - Amends the Internal Revenue Code to reduce the individual and corporate capital gains rate from 34 percent to 15 percent. Reduces such tax to 7.5 percent for low- and middle-income taxpayers. Requires indexing, based on the gross national product deflator, of the adjusted basis of certain assets (corporate stock and tangible property that is a capital asset of property used in a trade or business) that have been held for more than one year at the time of sale or other transfer, solely for the purpose of determining gain or loss. Provides for indexing the limitation on capital losses of noncorporate taxpayers. Amends the Internal Revenue Code to eliminate the age requirement (55 years or older) and years-of-residency requirement for eligibility with respect to the one-time income tax exclusion of gain from the sale of a residence. Title II: Credit for Purchase of New Principal Residence - Amends the Internal Revenue Code to allow a tax credit for the purchase of a principal residence of five percent of the purchase price of such residence. Limits such credit to $2,000. Makes such credit applicable to new principal residences acquired after October 31, 1991, and before November 1, 1992. Title III: Enterprise Zones - Subtitle A: Designation -Authorizes the Secretary of Housing and Urban Development (Secretary) to designate enterprise zones for purposes of providing tax and regulatory relief and improving local services. Limits choices to areas nominated by States and local governments. Limits the total number of areas that may be designated, and the time period of the designation. Authorizes the Secretary to designate a zone only if the area meets certain locational, demographic, unemployment, and poverty criteria. Requires nominating local governments, as a condition of the Secretary's designation, to agree in writing to follow a course of action that may include reducing tax rates, improving local services, simplifying or streamlining regulation of business, and providing job training to area residents. Describes areas to which the Secretary must give preference in selecting areas for designation. Requires the Secretary to report to the Congress every two years on the effects of such enterprise zones' designation in accomplishing the purposes of this Act. Subtitle B: Federal Income Tax Incentives - Allows a nonrefundable income tax credit to enterprise zone employees for five percent of any wages earned as do not exceed a specified amount. Phases out such credit. Provides for the nonrecognition of capital gain on the sale of enterprise zone property. Allows a taxpayer a deduction on the aggregate amount paid for the purchase of enterprise stock on its original issue by a qualified issuer. Requires any gain from the disposition of the stock to be treated as ordinary income. Excludes enterprise zone capital gains from income computation of alternative minimum taxes. Subtitle C: Regulatory Flexibility - Amends Federal law to revise the definition of "small entity" for purposes of the analysis of regulatory functions to include qualified business, government, and nonprofit enterprises operating within enterprise zones. Authorizes Federal agencies, upon request by a designating government, to waive or modify rules and regulations pertaining to the implementation of projects or activities within an enterprise zone. Requires agencies to approve the request if the resulting benefits of job creation, community development, or economic revitalization outweigh the public interest in retaining the rule unchanged. Disallows waiver or modification of a rule that would directly violate a statutory requirement or present a danger to the public health and safety. Subtitle D: Establishment of Foreign-Trade Zones in Enterprise Zones - Requires the Foreign-Trade Zone Board to consider on a priority basis and to expedite the processing of applications for the establishment of foreign-trade zones within enterprise zones. Requires the Secretary of the Treasury to give priority to, and expedite applications for, the establishment of ports of entry necessary to establish such zones. Subtitle E: Repeal of Title VII of the Housing and Community Development Act of 1987 - Repeals title VII (enterprise zone development) of the Housing and Community Development Act of 1987. Title IV: Appraisal Requirements and RTC and FDIC Inventory Property - Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to extend until July 1, 1992, the requirement for State certified or licensed appraisers in connection with federally-related appraisals. Requires the Secretary of Housing and Urban Development to annually study the real estate market conditions within local market areas to determine whether the sale of inventory property by the Resolution Trust Corporation (RTC) and the Federal Deposit Insurance Corporation (FDIC) is affecting or will affect the value of real estate within such areas. Directs the RTC and FDIC, upon a positive determination by the Secretary, to withhold from sale or other disposition any inventory properties within the affected market areas. Title V: Tax-Free Withdrawals From Individual Retirement Accounts for First Home Purchases - Allows penalty-free distributions from individual retirement accounts of up to 25 percent of the account limit for first-time homebuyers. Title VI: Treatment of Rental Property Operations Under Passive Loss Rules - Amends the Internal Revenue Code to provide for the treatment of rental and nonrental real estate activities under the limitations on losses from passive activities. Title VII: Production Investment Incentive - Amends the Internal Revenue Code to allow a business expense deduction for up to $250,000 (currently, $10,000) of depreciable business assets if property is used as an integral part of manufacturing, production, or extraction. Reduces such allowance by the amount by which the cost of such property exceeds $1,000,000 (currently, $200,000) for a taxable year. Excludes such depreciation deduction from the alternative minimum tax. Title VIII: Freeze on Banks' Total Capital Standard - Declares that the minimum amount of total capital which any insured depository institution may be required to maintain shall not exceed 7.25 percent of the total assets of such institutions. Title IX: Resolution Trust Corporation Refinancing - Resolution Trust Corporation Refinancing Act of 1991 - Amends the Federal Home Loan Bank Act to provide additional funding to the RTC to complete the resolution of failed thrifts. Increases the RTC working capital borrowing limit. Amends the Federal Deposit Insurance Act to extend until September 30, 1993, the period during which the Office of Thrift Supervision must appoint the RTC as conservator or receiver of failed thrifts. Title X: Restructuring of the Oversight Board and the Resolution Trust Corporation - Resolution Trust Corporation Restructuring Act of 1991 - Amends the Federal Home Loan Bank Act to limit the accountability of the Oversight Board to the performance of its duties under such Act. Revises the composition of the Board. Authorizes the RTC to develop and establish overall goals and policies and authorizes the Board to review and require modification of such goals and policies. Provides for the management of the RTC by its Board of Directors instead of the FDIC. Revises the composition of the RTC Board of Directors. Revises RTC personnel provisions with respect to the use of FDIC employees. Provides for the appointment of a chief executive officer to the RTC by the Oversight Board. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 provide for the rights of FDIC employees assigned to the RTC at the time of its termination. Authorizes the Oversight Board to remove the RTC Board of Directors for cause and to appoint a new Board of Directors. Title XI: Clarification of Treatment of Certain FSLIC Financial Assistance - Requires that, except in specified instances, FSLIC assistance be taken into account when determining losses or bad debts of savings and loans institutions (thus denying income tax deductions for losses or bad debts to the extent such assistance has compensated for them). Describes FSLIC assistance as money or property provided to a domestic building and loan association by the Federal Savings and Loan Insurance Corporation, the FSLIC Resolution Fund, or the Resolution Trust Corporation.
Bill· HRH.R. 3801 (102nd)referred
United States · United States Congress · 18 November 1991
Amends the Internal Revenue Code to exclude from gross income the qualified military benefits of retired military personnel employed as administrators or instructors in the Junior Reserve Officers' Training Corps.
Resolution· HRESH.Res. 283 (102nd)passed
United States · United States Congress · 18 November 1991
Sets forth the rule for the consideration of H.R. 3595 (Medicaid).
Bill· SS. 1966 (102nd)referred
United States · United States Congress · 14 November 1991
National Child Protection Act of 1991 - Establishes a national criminal background check system to which a designated agency in each State is required to report child abuse crime information, for purposes of background checks of child care providers. Directs the Attorney General to establish: (1) guidelines for the reporting of such information; and (2) timetables for each State to report such information to such system (with a three-year deadline for all States to be reporting at a specified level of currency). Requires State agencies to maintain close liason for information exchange and technical assistance in cases of child abuse with the National Centers: (1) on Child Abuse and Neglect; (2) for Missing and Exploited Children; and (3) for the Prosecution of Child Abuse. Directs the Attorney General to publish annually: (1) a Statistical summary of the child abuse crime information reported under this Act; and (2) a summary of each State's progress in reporting child abuse crime information to the national criminal background check system. Requires the Administrator of the Office of Juvenile Justice and Delinquency Prevention to conduct a study to determine various factors relating to potential child abuse crimes and offenders, based on a statistically significant sample of convicted child abuse offenders and other relevant information. Requires a report on such study to be submitted to specified congressional committee officials. Provides for background check procedures. Allows entities that provide child care or child care placement services (including business or organizations that license or certify others to provide such services) to request State agencies to review State and Federal records through the national system, and other criminal justice recordkeeping systems, to determine if a child care provider is under indictment for, or has been convicted of, a background check crime. (Defines "provider" as one who is now or seeks to be: (1) employed by, or a volunteer with, a qualified entity; (2) an owner or operator of a qualified entity; or (3) having unsupervised access to any child to whom the qualified entity provides child care.) Directs the Attorney General to establish guidelines for such State background check procedures, permitting equivalent procedures under specified conditions. Authorizes the Attorney General to: (1) exchange Federal Bureau of Investigation identification records with authorized agencies for purposes of such background checks; and (2) authorize by regulation further dissemination of such records by authorized agencies for such purposes. Directs the Attorney General to: (1) prescribe by regulation any other measures necessary to carry out this Act; and (2) encourage use of the best technology available in conducting background checks. Amends the Omnibus Crime Control and Safe Streets Act of 1968 to provide for use of certain formula grants to improve State record systems and the sharing of records of child abuse crime information to implement this Act. Directs the Attorney General to make additional grants to States to improve specified aspects of the child abuse crime information system, subject to appropriations and with preference to States having the lowest percent currency of case dispositions in computerized criminal history files. Authorizes appropriations for such additional grants. Authorizes the Attorney General, beginning one year after enactment of this Act, to reduce by up to ten percent the allocation to a State for a fiscal year under title I of the Omnibus Crime Control and Safe Streets Act of 1968 if the State is not in compliance with the child abuse crime information timetable established for it under this Act.
Bill· HRH.R. 3777 (102nd)referred
United States · United States Congress · 14 November 1991
Gulf of Mexico Protection and Restoration Act of 1991 - Amends the Federal Water Pollution Control Act to direct the Administrator of the Environmental Protection Agency to implement a comprehensive plan for improving and protecting the water quality of the Gulf of Mexico. Requires the Administrator to award grants for research to develop baseline scientific data regarding the environmental quality of the Gulf for use in preparing and evaluating the plan. Makes State agencies, nonprofit research organizations, and universities eligible for grants. Directs the Administrator, at the request of the Governor of a Gulf State affected by the plan, to make a grant for implementing the plan to the State if the State commits to implement the plan and has an approved proposal. Sets forth State proposal requirements. Limits: (1) the Federal share of State grants to 50 percent of the total cost of implementing the proposal; and (2) administrative costs supported by a grant to ten percent of the portion of the grant expended per fiscal year. Defines a "Gulf State" as Alabama, Florida, Louisiana, Mississippi, Texas, Puerto Rico, and the Virgin Islands. Authorizes and allocates appropriations.
Bill· HRH.R. 3768 (102nd)passed
United States · United States Congress · 14 November 1991
Federal Deposit Insurance Corporation Improvement Act of 1991 - Title I: Safety and Soundness- Subtitle A: Deposit Insurance Funds - Amends the Federal Deposit Insurance Act to increase from $5,000,000,000 to $30,000,000,000 the amount of credit available from the Treasury to the Federal Deposit Insurance Corporation (FDIC). Sets maximum limits upon the outstanding obligations of the Bank Insurance fund (BIF) and the Savings Association Insurance Fund (SAIF). Directs the Comptroller General to report quarterly to certain congressional committees regarding FDIC compliance with such obligation limitations. Mandates a repayment schedule as a prerequisite to any such borrowing. Requires the Secretary of the Treasury to submit a copy of such schedule to certain congressional committees and to consult with them regarding repayment terms. Authorizes the FDIC to impose special assessments upon insured depository institutions (in addition to existing assessments) if emergency assessments are required and if they are allocated between the BIF and SAIF according to their respective needs. Sets forth guidelines the BIF must follow when borrowing from its members. Subtitle B: Supervisory Reforms - Prescribes guidelines for: (1) mandatory annual on-site examinations of all insured depository institutions; and (2) fiscal status reports from all insured depository institutions (except for certain small-sized insured depository institutions). Sets forth guidelines for assessments to cover FDIC costs of conducting examinations of insured depository institutions and their affiliates. Outlines the application procedure for deposit insurance. Requires the FDIC to study and report to the Congress on ways to streamline Federal banking regulatory requirements. Subtitle C: Accounting Reforms - Mandates that: (1) the accounting principles applicable to all insured depository institutions be uniform and consistent with generally accepted accounting principles; (2) each appropriate Federal banking agency implement certain accounting principles (maintaining uniform accounting standards to use in determining compliance with statutory requirements of insured depository institutions); and (3) each appropriate Federal banking agency report annually to certain congressional committees on any differences between its accounting or capital standards and those used by other agencies. Requires each insured depository institution to include in its annual status report the total number and aggregate dollar amount of its outstanding loans to specified small businesses and farms. Exempts certain small-sized depository institutions from this requirement. Amends the Federal Deposit Insurance Act to require certain large institutions engaged in interstate banking to submit reports of financial conditions (including specified aspects of loan data for each State in which such institutions maintain branches). Subtitle D: Prompt Regulatory Action - Requires each appropriate Federal banking agency and the FDIC to prescribe regulations for implementation of a prompt regulatory action system which includes: (1) uniform standards; (2) minimum capital requirements; (3) deadlines for submission and review of capital restoration plans; (4) standards for safety and soundness; and (5) asset growth guidelines. Sets capital distribution restrictions for any insured depository institution that does not meet all currently applicable capital standards after making such distribution. Requires undercapitalized depository institutions to submit capital restoration plans with specified contents. Sets forth regulatory guidelines and restrictions for depository institutions according to risk categories (including the appointment of conservators or receivers for national banks and Federal savings associations not in compliance with statutory capital standards). Authorizes the FDIC Board of Directors to appoint the FDIC as sole conservator or receiver of an insured depository institution (after consultation with the appropriate Federal or State agency) after a determination that specified risk conditions have been met. Subtitle E: Least-Cost Resolution - Mandates that FDIC assistance to troubled insured depository institutions be in accord with prescribed least-cost resolution guidelines to ensure that such assistance is the least costly of all possible methods to the affected deposit insurance fund. Mandates an annual General Accounting Office (GAO) audit of the FDIC and the Resolution Trust Corporation to determine compliance with such least-cost approach. Sets forth procedural guidelines with respect to: (1) creditors' claims; (2) data collection; (3) financial services industry impact analyses before resolution of a troubled insured depository institution; and (4) financial assistance prior to appointment of a receiver of conservator. Amends the Federal Reserve Act to set forth limitations on advances by a Federal Reserve bank to an undercapitalized depository institution. Amends the Federal Deposit Insurance Act to direct the FDIC upon providing assistance to a troubled institution to: (1) remove its board of directors; and (2) treat shareholders' claims with regard to such institution as if the institution were closed. Subtitle F: Federal Insurance for State Chartered Depository Institutions - Uniform Depositor Protection Act of 1991 - Sets a deadline by which State depository institutions or credit unions must obtain deposit insurance as a prerequisite to accepting deposits. Subtitle G: Technical Corrections - Amends the Federal Deposit Insurance Act to: (1) grant the FDIC all rights, powers, and duties to implement its duties with respect to the assets and liabilities of the Federal Savings and Loan Insurance Corporation (FSLIC) Resolution Fund; and (2) declare the FDIC successor to the FSLIC as conservator or receiver of certain depository institutions. Title II: Regulatory Improvement - Subtitle A: Regulation of Foreign Banks - Amends the International Banking Act of 1978 to prohibit a foreign bank from establishing any branch or agency in the United States without prior approval of the Board of Governors of the Federal Reserve System (the Board). Outlines approval and termination procedures. Authorizes the Board to examine each branch or agency of a foreign bank or foreign entities engaged in lending practices. Mandates annual on-site examinations of such entities and outlines a coordinated examination procedure with the Comptroller of the Currency and the FDIC. Prohibits foreign banks from establishing representative offices without the Board's prior approval. Amends the Federal Deposit Insurance Act to require a financial institution to file a consolidated report with the appropriate Federal banking agency if the credit it extends (currently, if the loan or loans it makes) to an insured depository institution is secured by 25 percent or more of any class of shares of an insured depository institution. Amends the International Banking Act of 1978 to authorize the Board, the Comptroller of the Currency, the FDIC, and the Director of the Office of Thrift Supervision to disclose to their foreign counterparts information obtained in the course of exercising supervisory or examination authority, subject to confidentiality requirements. Sets forth a civil money penalty schedule for violations of such Act by a foreign bank. Amends the Bank Holding Company Act of 1956 to declare that consideration of a bank's managerial resources by the Board includes the competence, experience, and integrity of its officers, directors, and principal shareholders. Subtitle B: Customer and Consumer Provisions - Sets a deadline by which each appropriate Federal banking agency must submit to certain congressional committees recommendations with respect to reducing paperwork and improving the administration and enforcement of the Community Reinvestment Act of 1977. Directs GAO to study and report to the Congress on the examination processes used by Federal banking agencies to evaluate compliance with the Community Reinvestment Act of 1977. Amends the Community Reinvestment Act of 1977 to require the appropriate Federal financial supervisory agency to consider and give credit for capital investment, loan participation, and other ventures undertaken by nonminority-owned and nonwomen-owned financial institutions with minority and women-owned financial institutions and with low-income credit unions that help meet the credit needs of their local communities. Amends the Equal Credit Opportunity Act to require specified Federal agencies to: (1) refer to the Attorney General any cases in which there is reason to believe that a pattern or practice of credit discrimination exists with respect to credit application denials or discouragement; and (2) notify the Secretary of Housing and Urban Development of those cases in which there is reason to believe that a violation of the Fair Housing Act has occurred. Prohibits any appropriate Federal banking agency from requiring an institution to engage in data collection to fulfill Fair Housing Act requirements (other than under the Home Mortgage Disclosure Act). Requires the Secretary of the Treasury and the head of each appropriate Federal banking agency to review and report to the Congress on laws and regulations which might adversely affect the capital position and profitability of insured depository institutions. Amends the Expedited Funds Availability Act with respect to funds held beyond statutory schedules to mandate a one-year interval between required notices to the depositor. Amends the Electronic Fund Transfer Act to proscribe: (1) any preauthorized electronic fund transfer from a consumer's account on the basis of any form of check negotiation by a consumer; or (2) treatment of any provision contained in a check received by a depository institution and negotiated by a consumer as constituting an electronic funds transfer authorization. Amends the Expedited Funds Availability Act to make permanent the four-business days waiting period before a depositor may withdraw funds deposited at an automated teller machine owned or operated by a depository institution other than his own. Amends the Federal Deposit Insurance Act to set forth notification and policy guidelines to be followed by an insured depository institution with respect to advance notice of branch closures. Subtitle C: Bank Enterprise Act - Bank Enterprise Act of 1991 - Directs the Board and the FDIC to establish minimum requirements according to prescribed criteria so that certain accounts providing basic consumer transaction services at insured depository institutions may qualify as lifeline accounts. Amends the Federal Deposit Insurance Act to provide that an insured depository institution's assessment rate with respect to such lifeline accounts shall be one-half the maximum rate. Sets forth assessment procedures. Directs the Community Enterprise Assessment Credit Board (established by this Act) to issue guidelines according to specified criteria to determine community enterprise assessment credits for: (1) eligible insured depository institutions providing financial assistance to low- and moderate-income clients in distressed communities; (2) small business developers; and (3) nonprofit developers. Establishes the Community Enterprise Assessment Credit Board to establish procedures for accepting and considering applications by insured depository institutions for such assessment credits. Outlines the criteria under which an insured depository institution shall be treated as either a community development organization or a bank. Sets forth criteria for community development banks, organizations and corporations (thus making entities which meet such criteria eligible for specified insurance premium credits). Title III: Federal Deposit Insurance Reform - Subtitle A: Activities - Amends the Federal Deposit Insurance Act to authorize the FDIC to impose additional restrictions on certain troubled institutions with respect to: (1) the acceptance of brokered deposits; and (2) the acceptance, renewal, or rollover of funds obtained through any deposit broker. Prohibits a troubled institution from soliciting deposits by offering interest rates significantly higher than prevailing rates offered by other insured depository institutions on comparable deposits. Sets an interim maximum assessment rate for BIF members until a risk-based assessment system has been established by the Board of Directors according to criteria prescribed by this Act. Directs the Board of Directors to analyze and report to the Congress the impact of a risk-based assessment system upon specified aspects of mortgage lending. Sets limitations upon insured State banks and their subsidiaries with respect to activities that are impermissible for national banks, including insurance underwriting and equity investments. Retains savings bank life insurance activities by certain insured banks in New York, Connecticut, or Massachusetts. Prohibits an insured State bank, except in certain States, from acquiring or retaining any equity investment of a type or in an amount that is not permissible for a national bank. Authorizes the FDIC to require investment divestiture by an insured State bank if it determines that such investment will have an adverse effect on the safety and soundness of the bank. Directs the FDIC to study, and consequently address, any risks posed to insurance funds by equity investments of insured banks. Requires the appropriate Federal banking agencies to: (1) adopt joint uniform regulations prescribing standards for loans or extensions of credit by insured depository institutions that are secured by unimproved real estate or are made to finance construction; and (2) develop a system to monitor interest rate risk and adjust risk-based capital standards to reflect interest rate risk. Prescribes guidelines for the FDIC to take enforcement action against insured depository institutions and institution-affiliated parties. (Currently the FDIC is authorized to take such actions only against savings associations). Subtitle B: Coverage - Treats as uninsured deposits bank investment contracts between an insured depository institution and an employee benefit plan that permit benefit-responsive withdrawals or transfers without penalty. Excludes such uninsured deposits from the assessment base of insured depository institutions. Sets a maximum ceiling for insured deposits at $100,000.00. Directs the FDIC to provide deposit insurance coverage for deposits accepted on a pass-through basis to employee benefit plan participants or beneficiaries. Terminates such coverage by a specified deadline if the depository institution has not met specified minimum capitalization requirements. Declares that certain self-directed individual retirement accounts shall be aggregated and insured up to $100,000 per participant per insured depository institution. Includes within such maximum coverage certain trust funds and interbank deposits by a fiduciary depository institution. Requires the FDIC to study and report to the Congress on: (1) the cost and feasibility of tracking insured and uninsured deposits of any individual; and (2) the exposure of the Federal Government with respect to all insured depository institutions. Requires the Federal Reserve Board to report to the FDIC the results of a survey conducted as part of such cost-benefit analysis regarding the ownership, dollar amount, and type of deposits held by (individuals, including the type of financial institutions in which the deposit accounts are held). Proscribes payments on foreign deposits by a Federal entity. Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to establish civil penalties for failure by an insured depository institution to make accurate certified statements of its assessment base, or of the amount of deposit insurance premium due. Subtitle C: Demonstration Project and Studies - Directs the FDIC to study and report to the Congress on the feasibility of: (1) authorizing insured depository institutions to offer both insured and uninsured deposit accounts to customers; and (2) establishing a private reinsurance system. Subtitle D: Credit Unions - Amends the Federal Credit Union Act to authorize the National Credit Union Administration Board to appoint itself as liquidating agency of any federally insured State credit union upon a determination that it is insolvent or bankrupt. Subtitle E: FDIC Property Disposition - Amends the Federal Deposit Insurance Act to establish the parameters for a three-year FDIC affordable housing program for very low-income, low income, and moderate-income families (including single-family, multi-family, and condominium properties). Directs the FDIC to establish an Affordable Housing Program Office to implement this Act. Directs the Secretary of Housing and Urban Development (HUD) to include in the HUD annual report to the Congress a detailed description of activities undertaken to implement this program. Directs the FDIC and the RTC to coordinate with one another in carrying out their responsibilities under this program. Title IV: Miscellaneous Provisions - Subtitle A: Payment System Risk Reduction - Sets forth general netting rules and parameters to ensure that covered contractual payment obligations and entitlements between any two financial institutions or financial clearinghouses are netted pursuant to the conditions of applicable netting contracts. Subtitle B: Right to Financial Privacy Act of 1978 - Amends the Right to Financial Privacy Act of 1978 to authorize a Federal entity to transfer to the Department of Justice financial institution records for use in certain civil actions or criminal forfeiture actions, regardless of whether such actions are also directed at a customer of the institution States that such transfer does not constitute a waiver of any privilege pertaining to such records. Subtitle C: Final Settlement Payment Procedure - Amends the Federal Deposit Insurance Act to authorize the FDIC to settle uninsured and unsecured claims on an institution in receivership with a final settlement payment which must reflect an average of the FDIC's receivership recovery experience. Subtitle D: Miscellaneous Committees, Studies, and Reports - Establishes the Commission on the Thrift Industry to investigate and report to the President and certain congressional committees on the future status of the thrift industry. Terminates the Commission after submission of its report. Establishes the Bank Insurance Fund Advisory Committee to submit an annual report to certain congressional committees regarding business conditions and regulatory matters affecting BIF members. Requires the Federal Reserve Board, the FDIC, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, and the National Credit Union Administration to report to the Congress the results of a jointly conducted feasibility study on: (1) assessing Federal Reserve banks an amount equal to imputed earnings on reserves held at such banks by insured depository institutions; and (2) the likely effects of such assessments upon the Federal banking and insurance fund system. Establishes the Depository Institutions Reform Advisory Committee to report to the President, each House of Congress, the SEC, and each appropriate Federal banking agency on: (1) the current regulatory and supervisory scheme for financial institutions; (2) ways to ensure the safe and sound operation of depository institutions; and (3) ways to minimize losses to the deposit insurance funds. Terminates the Committee after submission of its report. Directs the Comptroller General to report to the Congress by a specified deadline regarding the effects of requiring insured depository institutions to cash Federal Government checks in areas with a disproportionately high Federal worker client base. Amends the Federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to provide that the Federal Advisory Committee Act does not apply to the Credit Standards Advisory Board (thus giving such Board permanent status). Subtitle E: Utilization of Private Sector - Amends the Federal Deposit Insurance Act to direct the FDIC to utilize private sector resources if it determines that such course is beneficial in implementing its responsibilities. Requires the FDIC to present a semiannual status report to the Congress which includes specified information with respect to its assets and liabilities, and the assets and liabilities of institutions for which it is conservator or receiver. Requires the FDIC and the Resolution Trust Corporation to implement procedures to: (1) minimize payments for legal, accounting, and investment banking services; and (2) provide diverse geographical representation of such services. Subtitle F: Emergency Assistance for Rhode Island - Directs the Secretary of the Treasury to guarantee the repayment of a specified amount borrowed by the State of Rhode Island (or the Depositors Economic Protection Corporation) in order to expedite the repayment of depositors at State-chartered banks and credit unions in receivership, and to facilitate the resolution of such receiverships. Sets forth guarantee terms. Subtitle G: Qualified Thrift Lender Test Improvements - Qualified Thrift Lender Reform Act of 1991 - Amends the Home Owners' Loan Act to provide that a savings association shall have the status of a qualified thrift lender if its qualified thrift investments continue to equal or exceed 70 percent of its portfolio assets on a monthly average basis in nine out of every 12 months. Increases from ten percent to 20 percent the amount of liquid assets which are excludable from a savings association's portfolio assets when determining the asset base against which qualified thrift investments are calculated. Modifies the definition of qualified thrift assets to include additional investments. Increases from five percent to ten percent the maximum percentage of allowable consumer loans. Subtitle H: Prohibition on Entering Secrecy Agreements and Protective Orders - Amends the Federal Deposit Insurance Act to prohibit the FDIC from entering into any agreement or approving any protective order which prohibits it from disclosing the settlement terms in an action for damages or restitution brought by it as conservator or receiver of an insured depository institution. Subtitle I: Establishment of Capital Standard Requirement - Mandates that Federal banking regulatory agencies establish minimum capital standards at least equal to the minimum capital requirements under all international accords on capital standards for financial institutions to which the United States has agreed. Subtitle J: Bank and Thrift Employee Provisions - Directs the FDIC in its capacity as a successor of a failed depository institution to: (1) continue group health plan coverage for the former employees of such institution in the same manner as the institution was obligated to provide such coverage; and (2) require any successor institution to continue to provide such health plan coverage in a like manner. Subtitle K: Severability - Sets forth severability provisions. Subtitle L: Sense of the House of Representatives on the Credit Crisis - Expresses the sense of the House of Representatives that immediate and coordinated action should be taken by the Congress and the President to arrest the credit crisis, and that efforts should be undertaken to: (1) remove barriers to pension funds seeking to invest in real estate; (2) remove arbitrary obstacles to private forms of credit enhancement; (3) consider the impact of risk-based capital standards on commercial and residential real estate; (4) end market-to-market liquidation based appraisals; (5) encourage loan renewals; (6) communicate the supervisory policy to bank examiners in the field; and (7) modify the passive loss rules and encourage loan restructures. Title V: Depository Institutions Conversions - Amends the Federal Deposit Insurance Act to authorize any insured depository institution to participate in specified conversion transactions with the prior written approval of the responsible regulatory agency. Sets forth guidelines for assessments on deposits of the former depository institution (i.e., deposit held before conversion). Permits certain interstate conversion transactions. Mandates expedited approval procedures with respect to an application by a State non-member insured bank to acquire another insured depository institution. Provides for allocation of insurance losses between the BIF and the SAIF in the event the depository institution resulting from the conversion transaction goes into or appears in danger of going into default. Amends the Home Owners' Loan Act, the Bank Holding Company Act of 1956, and Federal banking law with respect to national banks to authorize bank mergers, consolidations and other acquisitions by Federal savings associations, national banks, and certain companies which control banks but are not statutorily treated as bank holding companies.
Bill· HRH.R. 3780 (102nd)referred
United States · United States Congress · 14 November 1991
Requires that of the amounts appropriated for FY 1992 for travel expenses for officers and employees of the Federal Government, not more than 75 percent be obligated or spent for such expenses and 25 percent be returned to the Treasury to reduce the Federal budget deficit.
Bill· HRH.R. 3785 (102nd)referred
United States · United States Congress · 14 November 1991
Fiscal Accountability Act of 1991 - Title I: Reauthorizations of Government Programs - Requires each Government program to be reauthorized at least once during each sunset reauthorization cycle. (Sunset reauthorization cycle means the period of five Congresses beginning with the 103d Congress and with each sixth Congress following the 103d Congress.) Sets forth the procedure in the House of Representatives and the Senate for the consideration of any legislation which authorizes new budget authority. Exempts from the requirements of this Act specified items, such as interest on Federal debts, health care services, general retirement and disability payments, litigation activities which have as their objectives the protection and implementation of civil rights guaranteed by the Constitution, and specified retirement pay and benefits. Title II: Program Inventory - Directs the Comptroller General and the Director of the Congressional Budget Office, in cooperation with the Director of the Congressional Research Service, to prepare an inventory of Federal programs. Declares that the purpose of such program inventory is to advise and assist the Congress in carrying out reauthorization and reexamination requirements and to link such reauthorization and review process with the budget process. Requires the Comptroller General to submit such program inventory to each House of Congress no later than January 1, 1992. Directs the congressional committees, the Congressional Budget Office, and the Congressional Research Service to review the program inventory and to suggest revisions. Requires that the program inventory be revised at the end of each session of the Congress and that such revisions be reported to each House. Title III: Program Reexamination - Requires each committee of the Senate and the House of Representatives to reexamine selected programs or groups of programs over which it has jurisdiction. Sets forth procedures for such review and criteria for selection of program areas for evaluation. Title IV: Citizens' Commission On The Organization And Operation Of Government - Authorizes establishment of a Citizens' Commission on the Organization and Operation of Government as an independent instrumentality of the United States. Requires the Commission to conduct a study and investigation of the organization and methods of operation of Federal executive entities and authorities. Requires Commission reports to the President and specified congressional committees detailing its findings and recommendations for changes to increase the effectiveness of Government programs, services, and activities. Authorizes appropriations. Title V: Miscellaneous - Sets forth miscellaneous provisions to carry out the purposes of this Act. Directs the President, with the cooperation of the head of each appropriate agency, to submit to the Congress a regulatory duplication and conflicts report for all programs scheduled for reauthorization in the next Congress. Requires specified congressional committees to report on a review of the procedures established under this Act by December 31, 1998, and every five years thereafter. Authorizes appropriations through FY 2002.
Bill· HRH.R. 3781 (102nd)referred
United States · United States Congress · 14 November 1991
Amends the Internal Revenue Code to repeal occupational taxes relating to the production or sale of distilled spirits, wines, and beer.
Bill· HRH.R. 3788 (102nd)referred
United States · United States Congress · 14 November 1991
Amends the Internal Revenue Code to exempt personal service corporations which use an accrual method of accounting for its last taxable year ending before the date of enactment of this Act from restrictions on deducting year-end regular compensation paid to any employee who is not a key employee.
Bill· HRH.R. 3775 (102nd)referred
United States · United States Congress · 14 November 1991
Amends the Internal Revenue Code to require taxpayers who determine depreciation under the income forecast method to pay interest under the look-back method for any recomputation year. Requires such determinations to include, in the case of a film produced for theatrical or television exhibition, estimated income from subsequent television exhibition or syndication. Establishes a formula for such recomputations to recapture foregone tax revenues. Provides for taxing certain rents and royalties paid to foreign subsidiaries as foreign personal holding company income.
Resolution· HRESH.Res. 281 (102nd)passed
United States · United States Congress · 14 November 1991
Waives points of order against the consideration of the conference report on H.R. 2100 (armed forces funding).
Bill· SS. 1958 (102nd)open
United States · United States Congress · 13 November 1991
Federal Property and Administrative Services Authorization Act of 1991 - Amends the Federal Property and Administrative Services Act of 1949 to authorize appropriations for functions and activities under the Act, including operations of the General Services Administration (GSA), through FY 1993. Title I: Amendments To Federal Property and Administrative Services Act of 1949 - Amends the Federal Property and Administrative Services Act of 1949 to set forth provisions analogous to those contained in the National Defense Authorization Act for Fiscal Year 1991 concerning an agency's responsibilities regarding statements of evaluation factors in a contract solicitation. Raises the cost and pricing data threshold under the Federal Property and Administrative Services Act of 1949 to $500,000. Title II: Brooks Act Amendments - Provides that specified provisions of the Federal Property and Administrative Services Act of 1949: (1) concerning the procurement, maintenance, operation, and use of automatic data processing equipment may be cited as the Brooks Automatic Data Processing Act; and (2) concerning the procurement of architectural and engineering services may be cited as the Brooks Architect-Engineers Act. Amends the Brooks Automatic Data Processing Act to: (1) extend the Administrator's authority to procurements of automatic data processing equipment (ADPE) conducted on behalf of a Federal agency; (2) allow the Administrator to revoke a delegation of procurement authority either before or after a contract is awarded; (3) allow GSA's board of contract appeals to accept protests against procurements conducted on behalf of a Federal agency; (4) allow such board to dismiss protests that are frivolous or have been brought in bad faith, to impose costs for violations of or failures to comply with its orders and decisions, to order resolicitation, cancellation of an award, or termination of a contract, and to direct that an award be made in accordance with its decision in providing relief; (5) require all settlement agreements providing for or contemplating the dismissal of a protest to be submitted to such board for approval or disapproval; (6) require agencies to reimburse the judgment fund when either awards or settlements are paid out of that fund; (7) allow prevailing (currently "interested") parties to be awarded protest resolution costs; (8) revise the definition of "protest" to include protests of procurements conducted on behalf of a Federal agency; (9) revise the definition of "interested party" to delete the requirement that a party have a direct economic interest in the procurement; (10) define "prevailing party"; and (11) provide for GSA oversight of agency ADPE procurements. Title III: Miscellaneous Provisions - Amends the Competition in Contracting Act of 1984 to revise the authority of the Comptroller General to award costs and fees to successful procurement protesters to make such costs and fees payable as a matter of law, rather than as a consequence of the Comptroller General's discretion. Subjects to judicial review the entitlement of an interested party to recover such costs and fees. Amends the Office of Federal Procurement Policy Act to require that agencies debrief losing vendors, upon their request, after a contract is awarded on a basis other than price alone. Provides vendors with the opportunity for additional post-award information. Makes the failure of an agency to provide a debriefing subject to protest.
Bill· SS. 1957 (102nd)referred
United States · United States Congress · 13 November 1991
Amends the Internal Revenue Code to restore the deduction for interest on an automobile loan for indebtedness incurred after December 31, 1991, and before January 1, 1993.
Bill· HRH.R. 3757 (102nd)referred
United States · United States Congress · 13 November 1991
Emergency Unemployment Compensation Act of 1991 - Title I: Emergency Unemployment Compensation Program - Establishes an emergency unemployment compensation program. Allows any State to enter into and participate in an agreement with the Secretary of Labor (the Secretary) under which the State agency which administers the State unemployment compensation law will make payments of emergency unemployment compensation: (1) to individuals who have exhausted all rights to regular compensation under State law, have no rights to such regular compensation or any additional State or Federal compensation, and are not receiving Canadian compensation; and (2) for any week of unemployment beginning in the individual's eligibility period. Sets forth provisions relating to exhaustion of regular benefits and weekly amount of emergency benefits equal to regular benefits. Authorizes a State Governor to elect to trigger off an extended compensation period to provide emergency unemployment compensation to individuals who have exhausted their rights to regular compensation under State law, if the State is in a 20-week period or a 13-week period as defined under this Act. Begins such periods three weeks after the first week in which specified triggering requirements are met (and ends them three weeks after the first week in which such requirements are not met). Triggers the 20-week period for any week if: (1) the adjusted rate of insured unemployment (IUR) for such week and the immediately preceding 12 weeks is at least five percent; or (2) the average rate of total unemployment (TUR) in such State for the most recent six-calendar month period for which data are published before the close of such week is at least nine percent. Triggers the 13-week period for any week if: (1) the State IUR for such week and the immediately preceding 12 weeks is at least four percent; or (2) the State IUR for such period is at least 2.5 percent and the benefit exhaustion rate in the State for the most recent month for which data are available before the close of such week is at least 29 percent. Requires a State, under such an agreement, to establish an emergency unemployment compensation account with respect to the benefit year of each eligible individual who files an application. Limits benefit payments to not more than the amount in the individual's account. Sets forth formulas for determining the amount in such account. Provides that the applicable limit in such account shall be equal to: (1) 20 weeks for a 20-week period, determined as described above; (2) 13 weeks for a 13-week period, determined as described above; and (3) six weeks of benefits for any other period. Sets forth special rules relating to such applicable limits. Requires reduction in such account by the amount of extended benefits received by the individual relating to the same benefit year under the Federal-State Extended Unemployment Compensation Act of 1970. Sets the weekly benefit amount at the amount of regular compensation (including dependents' allowances) payable under the State law to the individual for such week for total unemployment. Provides for determination of periods and applicable triggers. Provides for a minimum period. Provides, in general, that no emergency unemployment compensation shall be payable to any individual under this Act for any week beginning: (1) before the later of November 17, 1991, or the first week following the week in which an agreement under this Act is entered into; or (2) after July 4, 1992. Sets forth transition and reachback provisions for the eligibility of certain individuals for such benefits, as exceptions to such general rule. Provides for payments to States having such agreements for emergency unemployment compensation. Sets forth financing provisions. Requires that funds in the extended unemployment compensation account of the Unemployment Trust Fund be used to make payments to States having agreements under this Act. Authorizes appropriations to the extended unemployment compensation account of sums necessary to pay emergency unemployment compensation payable: (1) under specified provisions for former members of the Armed Forces; and (2) on the basis of certain services performed for nonprofit organizations or governmental entities, to which certain Internal Revenue Code provisions relating to State unemployment compensation law apply. Sets forth provisions relating to fraud and overpayments. Defines the individual eligibility period under this Act. Title II: Demonstration Program to Provide Job Search Assistance - Directs the Secretary to carry out a demonstration program to determine the feasibility of implementing job search assistance programs. Requires selection of three States to participate in such program, based on specified criteria. Requires that at least one of these States will replicate a prior successful demonstration project for job search assistance. Sets forth requirements for the program agreement with these States. Requires a job search assistance program, for purposes of this title, to: (1) require certain unemployment compensation recipients to participate in a qualified intensive job search program (the program) after receiving such compensation for at least six but not more than ten weeks during any benefit year; (2) entitle such individuals to an intensive job search program voucher; and (3) disqualify those who do not satisfactorily participate in such program from receiving such compensation for a specified period of not more than ten weeks. Makes such program requirements applicable to such recipients if, during a specified three-year period, they had at least 126 weeks of employment at wages of $30 or more a week with their last employer (or an equivalent amount computed under prescribed regulations). Sets forth exceptions to such program requirements and program qualifications. Provides that such vouchers entitle the organization (including the State employment service) providing the program to a payment from the State agency equal to the lesser of: (1) the reasonable costs of providing the program; or (2) the average weekly benefit amount in the State. Requires Federal payments from the extended unemployment compensation account to each participating State's account in the Unemployment Trust Fund in an amount equal to the payments made by the State agency for such program vouchers. Provides for payments on a calendar month basis, and for certification by the Secretary. Directs the Secretary to submit two interim reports and a final report to the Congress on the demonstration program under this title. Title III: Other Provisions - Amends specified Federal law to repeal certain limitations on payment of unemployment compensation to former members of the Armed Forces. Reduces the length of required active duty by reserves for purposes for such payment. Amends the Federal Unemployment Tax Act (FUTA) provisions of the Internal Revenue Code to allow optional unemployment benefits for certain school employees, by making denial of such benefits discretionary rather than mandatory. Amends the Social Security Act to establish an Advisory Council on Unemployment Compensation. Directs the Secretary of Labor to establish such a council by February 1, 1992, and every fourth year thereafter. Requires each such council to evaluate the unemployment compensation program. Sets forth membership and staff provisions. Requires each council to report to the President and the Congress by February 1 of the second year following the year in which it is required to be established. Requires the first Council report to include findings and recommendations on determining eligibility for extended unemployment benefits on the basis of unemployment statistics for regions, States, or subdivisions of States. Directs the Secretary, within 12 months, to report to the Congress a proposal for revising the method of allocating grants among the States for administration of the unemployment insurance program. Prohibits the Secretary from revising such method until 12 months after such report is submitted to the Congress. Title IV: Financing Provisions - Amends the Deficit Reduction Act of 1984 to provide for permanent extension of provisions relating to collection of nontax debts owed to Federal agencies. Amends the Federal Unemployment Tax Act (FUTA) provisions of the Internal Revenue Code to extend the surtax imposed on employers through 1996. Amends the Internal Revenue Code to limit the use of the preceding year's tax for purposes of determining individual estimated tax payments. Title V: Railroad Unemployment Insurance - Amends the Railroad Unemployment Insurance Act to provide temporary extended railroad unemployment insurance benefits, to railroad employees who have less than ten years of service, for certain periods of high national unemployment. Provides for such extended benefits for up to 13 weeks (65 days of unemployment), through July 4, 1992. Sets forth transition and reachback provisions. Title VI: Guaranteed Student Loans - Amends title IV (Student Assistance) of the Higher Education Act of 1965 (HEA) to revise provisions relating to the Stafford student loan program (including guaranteed student loans and federally-insured student loans). Requires, in the case of such student loan applicants over age 21, that the lender: (1) obtain a credit report; and (2) require a cosigner for such applicants who have adverse credit histories. Allows the lender to charge such applicants for the actual cost of such credit reports, up to $25. Requires the lender to obtain the borrower's driver's license number, if any, at the time of application for such a student loan. Directs eligible institutions to require borrowers of any student loan under HEA to supply the following exit interview information: (1) their expected permanent address after leaving the institution; (2) the name and address of their expected employer; and (3) the name and address of their next of kin. Requires student loan interest-subsidy insurance program agreements to require the lender to obtain the borrower's authorization for entry of judgment against the borrower in the event of default. Provides for wage garnishment for student loan collection. Authorizes a guaranty agency, or the Secretary where appropriate, to garnish the disposable pay of an individual to collect the amount owed or the required repayment, subject to certain conditions. Provides for data matching. Authorizes the Secretary of Education to obtain from Federal agencies specified information relating to an individual for student loan collection purposes.
Bill· HRH.R. 3766 (102nd)referred
United States · United States Congress · 13 November 1991
Buyer Encouragement Act - Amends the Internal Revenue Code to allow a deduction for personal interest paid or accrued on indebtedness which is incurred: (1) after the earlier of December 31, 1991, or the date of enactment of this Act; and (2) on or before the date which is 18 months after such enactment. Declares that such allowance does not apply to indebtedness which is incurred to refinance any indebtedness incurred on or before the applicable date.
Resolution· HRESH.Res. 278 (102nd)passed
United States · United States Congress · 13 November 1991
Sets forth the rule for the consideration of H.R. 2130 (National Oceanic and Atmospheric Administration funding).
Bill· SS. 1950 (102nd)referred
United States · United States Congress · 12 November 1991
Amends the Internal Revenue Code to extend for one year the following expiring provisions: (1) the credit for increasing research activities; (2) the targeted jobs credit; (3) the tax exclusion for employer-provided educational assistance; (4) the authority to issue qualified small issue bonds to finance manufacturing facilities and farm property; (5) the itemized deduction for health insurance costs of self-employed individuals; (6) the authority to issue mortgage revenue bonds and mortgage credit certificates; (7) the rules on allocating research and experimental expenditures in determining income from sources within or without the United States; (8) the low-income housing credit; (9) the energy investment credit for solar and geothermal property; (10) the credit for clinical testing expenses for certain drugs for rare diseases or conditions; and (11) the minimum tax exception for gifts of appreciated tangible property.
Bill· SS. 1952 (102nd)referred
United States · United States Congress · 12 November 1991
Amends the Internal Revenue Code to repeal provisions relating to limitations on passive activity losses and credits.
Bill· SS. 1948 (102nd)referred
United States · United States Congress · 12 November 1991
Amends the Internal Revenue Code regarding estates and trusts to provide rules for the gratuitous transfer of qualified employer securities to an employee stock ownership plan from charitable remainder trusts.
Bill· HRH.R. 3752 (102nd)open
United States · United States Congress · 12 November 1991
Amends the Internal Revenue Code to extend for one year the following expiring provisions: (1) the credit for increasing research activities; (2) the targeted jobs credit; (3) the tax exclusion for employer-provided educational assistance; (4) the authority to issue qualified small issue bonds to finance manufacturing facilities and farm property; (5) the itemized deduction for health insurance costs of self-employed individuals; (6) the authority to issue mortgage revenue bonds and mortgage credit certificates; (7) the rules on allocating research and experimental expenditures in determining income from sources within or without the United States; (8) the low-income housing credit; (9) the energy investment credit for solar and geothermal property; (10) the credit for clinical testing expenses for certain drugs for rare diseases or conditions; (11) the minimum tax exception for gifts of appreciated tangible property; and (12) the tax exclusion for employer-provided group legal services plans.
Bill· HRH.R. 3755 (102nd)referred
United States · United States Congress · 12 November 1991
Emergency Unemployment Compensation Act of 1991 - Title I: Emergency Unemployment Compensation Program - Establishes an emergency unemployment compensation program. Allows any State to enter into and participate in an agreement with the Secretary of Labor (the Secretary) under which the State agency which administers the State unemployment compensation law will make payments of emergency unemployment compensation: (1) to individuals who have exhausted all rights to regular compensation under State law, have no rights to such regular compensation or any additional State or Federal compensation, and are not receiving Canadian compensation; and (2) for any week of unemployment beginning in the individual's eligibility period. Sets forth provisions relating to exhaustion of regular benefits and weekly amount of emergency benefits equal to regular benefits. Authorizes a State Governor, in a period of a seven or eight percent total unemployment rate in that State (as defined under this Act), to elect to trigger an extended compensation period to provide emergency unemployment compensation to individuals who have exhausted their rights to regular compensation under State law. Requires a State, under such an agreement, to establish an emergency unemployment compensation account with respect to the benefit year of each eligible individual who files an application. Limits benefit payments to not more than the amount in the individual's account. Sets forth formulas for determining the amount in such account. Provides that the applicable limit in such account shall be equal to: (1) 20 for an eight-percent period, i.e. one triggered by an adjusted total unemployment rate (TUR) of eight percent or more in the State, for the most recent six calendar months with available data; (2) 13 for a seven-percent period; and (3) seven for a six-percent period or for any other period. Sets forth special rules relating to such applicable limits. Requires reduction in such account by the amount of extended benefits received by the individual relating to the same benefit year under the Federal-State Extended Unemployment Compensation Act of 1970. Sets the weekly benefit amount at the amount of regular compensation (including dependents' allowances) payable under the State law to the individual for such week for total unemployment. Provides for determination of periods and applicable triggers. Provides for a minimum period of at least 13 weeks. Provides, in general, that no emergency unemployment compensation shall be payable to any individual under this Act for any week beginning: (1) before the later of November 17, 1991, or the first week following the week in which an agreement under this Act is entered into; or (2) after August 1, 1992. Sets forth transition and reachback provisions for the eligibility of certain individuals for such benefits, as exceptions to such general rule. Provides for payments to States having such agreements for emergency unemployment compensation. Sets forth financing provisions. Requires that funds in the extended unemployment compensation account of the Unemployment Trust Fund be used to make payments to States having agreements under this Act. Sets forth provisions relating to fraud and overpayments. Defines the eligible period under this Act. Provides that in no event shall an individual's period of eligibility include any weeks after the 39th week after the end of the benefit year for which the individual exhausted rights to regular compensation or extended compensation. Title II: Other Provisions - Amends specified Federal law to repeal certain limitations on payment of unemployment compensation to former members of the Armed Forces. Reduces the length of required active duty by reserves for purposes for such payment. Amends the Federal Unemployment Tax Act (FUTA) provisions of the Internal Revenue Code to allow optional unemployment benefits for certain school employees, by making denial of such benefits discretionary rather than mandatory. Amends the Railroad Unemployment Insurance Act to provide temporary extended railroad unemployment insurance benefits, to railroad employees who have less than ten years of service, for certain periods of high national unemployment. Provides for such extended benefits for up to 13 weeks (65 days of unemployment), through July 4, 1992. Sets forth transition and reachback provisions. Amends the Social Security Act to establish an Advisory Council on Unemployment Compensation. Directs the Secretary of Labor to establish such a council by February 1, 1992, and every fourth year thereafter. Requires each such council to evaluate the unemployment compensation program. Sets forth membership and staff provisions. Requires each council to report to the President and the Congress by February 1 of the second year following the year in which it is required to be established. Requires the first Council report to include findings and recommendations on determining eligibility for extended unemployment benefits on the basis of unemployment statistics for regions, States, or subdivisions of States. Directs the Secretary, within 12 months, to report to the Congress a proposal for revising the method of allocating grants among the States for administration of the unemployment insurance program. Prohibits the Secretary from revising such method until 12 months after such report is submitted to the Congress. Title III: Budgetary Provisions - Provides for reductions in foreign aid. Requires, for each of FY 1992 through 1995, a sequestration of the specified applicble amount for such fiscal year for foreign aid (not including any assistance to the Camp David Accord countries). Provides that any changes in budget authority or outlays resulting from this Act shall not be considered for any purpose under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Exempts payments under title I (emergency unemployment compensation) of this Act from any order issued under specified sequestration provisions of such Act.
Law· HJRESH.J.Res. 374 (102nd)enacted
United States · United States Congress · 12 November 1991
Extends the law making further continuing appropriations for FY 1992.
Bill· SS. 1932 (102nd)open
United States · United States Congress · 7 November 1991
Enterprise Capital Formation Act of 1991 - Amends the Internal Revenue Code to allow a deduction for gain on investments in new small business stock (seed capital) held for at least five years. Establishes special rules for such investments. Provides for determining the maximum capital gains rate for small business net capital gain or seed capital gain. Treats capital gains on the sale of such stock as a preference item for purposes of the minimum tax.
Bill· SS. 1944 (102nd)open
United States · United States Congress · 7 November 1991
Health Promotion and Disease Prevention Act of 1991 - Title I: Health Promotion and Disease Prevention Assistance - Health Promotion and Disease Prevention Assistance Act of 1991 - Subtitle A: Preventive Health and Health Services Block Grant - Amends the Public Health Service Act to authorize appropriations for block grants. Modifies requirements regarding: (1) State reports to the Secretary of Health and Human Services; (2) health status indicators and reports; (3) application requirements; and (4) health promotion and disease prevention related to women's health. Amends the Year 2000 Health Objectives Planning Act to authorize appropriations to carry out the Act and to establish and operate State Health Objectives Advisory Committees under specified provisions of the Public Health Service Act. Amends the Public Health Service Act to authorize appropriations for centers for research and demonstration of health promotion and disease prevention. Subtitle B: National Health Objectives Project Grants to States - Requires appropriations exceeding a certain amount under general block grant authorizations to be used to carry out this subtitle. Provides for the amount of the allotment to each State and each Indian tribe or tribal organization. Provides for the uses of the funds, including assessing public health needs and health status and providing other types of assistance. Requires a State to: (1) develop a State health objectives plan containing at least five objectives from the national objectives list described by the Secretary; and (2) establish a State Health Objectives Advisory Committee. Directs the Secretary to establish: (1) the National Health Objectives Advisory Committee; (2) national health priorities, including three core priorities which must be included in each State plan; and (3) an estimate of the personnel and training needed to accomplish the national priorities. Subtitle C: Categorical Programs - Mandates grants for: (1) demonstration projects for preventing conditions or diseases affecting women; (2) demonstration projects for the promotion of women's health; and (3) development and dissemination of information on health promotion and disease prevention related to women's health. Authorizes establishment of a national information clearinghouse to disseminate information concerning prevention of injuries in locations not covered by the Occupational Safety and Health Act of 1970. Authorizes grants and contracts to help public schools implement programs to prevent injuries. Mandates grants for the establishment of ten demonstration projects for the prevention of injuries in locations not covered by the Occupational Safety and Health Act of 1970. Authorizes appropriations to carry out injury research and control provisions. Establishes the Office of Adolescent Health. Sets forth Office activities, including: (1) establishing a national clearinghouse; (2) establishing the National Advisory Committee on Adolescent Health; and (3) developing a national strategic plan to access adolescent health issues. Mandates grants and contracts for multidisciplinary projects to: (1) use innovative methods to train health care practitioners to serve adolescents; and (2) demonstrate and evaluate innovative models to prevent adolescent violence. Authorizes appropriations. Requires grantees under provisions relating to community programs on childhood lead poisoning: (1) to provide screening, referral for both treatment and environmental intervention (currently, for treatment), and education; and (2) with regard to services provided under title XIX (Medicaid) of the Social Security Act, to be or work with a qualified Medicaid provider. Revises other requirements. Authorizes appropriations. Authorizes setting aside a specified percentage of amounts appropriated for related programs in addition to the grants. Establishes: (1) a national program to educate health professionals and paraprofessionals and the general public on lead poisoning; (2) a concerted technology assessment and epidemiology program on lead poisoning; and (3) the Interagency Task Force on the Prevention of Lead Poisoning. Authorizes appropriations to carry out provisions relating to the prevention and control of sexually transmitted diseases. Authorizes grants to determine: (1) the prevalence, mortality rates, and stage at diagnosis of prostate cancer; and (2) current prostate cancer screening and diagnosis practices and their effectiveness. Mandates grants for demonstration projects for the prevention of diseases that disproportionately affect minorities. Authorizes appropriations. Title II: Coordination of Health Promotion and Disease Prevention Activities - Health Promotion and Disease Prevention Coordination Act of 1991 - Modifies the duties of the Office of Disease Prevention and Health Promotion. Authorizes appropriations to carry out specified provisions relating to health information and health promotion. Establishes an interdepartmental group for coordination and cooperation regarding multidimensional school health programs. Removes references to health information from provisions authorizing the Secretary to conduct and to support through grants and contracts research on health information and health promotion, preventive health services, and education in the appropriate use of health care. Mandates an annual report to the President and appropriate congressional committees (currently, the President and the Congress) on the status of the nation's health (currently, on the status of health information and health promotion, preventive health services, and education in the appropriate use of health care). Modifies the report contents. Mandates, with respect to the health concerns of individuals from disadvantaged backgrounds, including racial and ethnic minorities, the development of model curricula and programs for health information and education for use in community and work place settings. Authorizes grants for improving the health status in minority communities through the operation of State offices of minority health established to monitor and facilitate the achievement of the Health Objectives for the Year 2000. Requires certain activities under the grants, including establishment within a State of a clearinghouse for certain information relating to minorities and health care. Authorizes appropriations. Terminates the program after aggregate appropriations reach a specified level. Title III: Centers for Disease Control and Prevention Foundation - Centers for Disease Control and Prevention Foundation Act of 1991 - Establishes the Centers for Disease Control and Prevention Foundation as a nonprofit corporation to support efforts to prevent disease, injury, and disability, and to promote health. Requires the Foundation to establish a fund to provide endowments for positions at the Centers for Disease Control and Prevention (endowment fund). Allows those positions to be held by individuals without regard to whether the individuals are Federal Government employees. Authorizes appropriations. Prohibits providing appropriated funds to the endowment fund. Authorizes the Secretary to make limited additional amounts available to carry out this title. Title IV: Preventable Cases of Infertility - Authorizes grants for carrying out certain activities, with regard to any treatable sexually transmitted disease that can cause infertility in women if treatment is not received for the disease, including counseling, screening, treatment, referrals, public information and education, training health care providers, and data collection. Authorizes appropriations. Authorizes grants for research on the manner in which service delivery under this title may be improved. Authorizes appropriations. Title V: Miscellaneous - Establishes the Secretary's Advisory Council on Health Promotion. Authorizes the transfer of a limited percentage of any appropriation under the Public Health Service Act to provide for the operation of the Council. Limits the total amount transferred in a fiscal year. Requires that the Surgeon General: (1) notify active members of the Commissioned Corps concerning guidelines for clinical practice developed or issued by the Public Health Service; and (2) ensure that the members are using the guidelines. Directs the Secretary to inform the Surgeon Generals of the uniformed services, the Secretary of Veterans Affairs, and the Administrator of the Office of Personnel Management concerning any guidelines for clinical practice developed by the Public Health Service. Amends the Comprehensive Smoking Education Act, the Education Amendments of 1978, the Veterans' Benefits and Services Act of 1988, the Public Health Service Act, the Health Omnibus Programs Extension of 1988, the Health Research Extension Act of 1985, the Comprehensive Environmental Response, Compensation and Liability Act of 1980, and other Federal law to change certain references to the Centers for Disease Control to references to the Centers for Disease Control and Prevention. Mandates a study and report to specified congressional committees regarding bloodborne disease transmission in the health care setting.
Bill· SS. 1933 (102nd)open
United States · United States Congress · 7 November 1991
Health Professions Training and Nurse Education Improvement and Reauthorization Act of 1991 - Title I: Provisions Relating to Title VII - Health Professions Training Improvement and Reauthorization Act of 1991 - Subtitle A: General Provisions - Amends title VII (Health Research and Teaching Facilities and Training of Professional Health Personnel) of the Public Health Service Act to change the composition of the National Advisory Council on Health Professions Education and establish the Subcommittee on Allied Health. Prohibits making a grant, loan guarantee, or interest subsidy payment to specified types of educational institutions and programs which discriminate on the basis of race, color, religion, gender, national origin, age, disability, marital status, or educational affiliation (currently, on the basis of sex). Adds graduate programs in clinical social work to the list of institutions and programs covered. Modifies requirements and authorizations concerning the collection and reporting of certain data about specified types of health professionals. Requires all grant or contract applicants under title VII to instruct all trainees regarding precautions to prevent transmission of bloodborne diseases. Sets forth priorities in the awarding of competitive grants under titles VII or title VIII (Nurse Education) of the Act. Subtitle B: Student Assistance - Sets forth limits on the total principal amount of new loans made and installments paid for specified fiscal years under the Federal program of insured loans to health professions graduate students. Extends the date after which insurance may not be granted for loans or installments. Sets forth additional circumstances under which principal repayment may be deferred. Modifies loan consolidation requirements, including removing provisions prohibiting, in certain circumstances, the inclusion of such an insured loan in a consolidated loan under the authority of the Student Loan Marketing Association. Prohibits interest on such loans from being compounded more frequently than annually (currently, semiannually). Sets a maximum rate of interest. Provides for a quarterly special allowance to eligible loan holders based on a percentage of the unpaid principal of all eligible loans held by that holder. Requires an increase in the allowance if not promptly paid. Allows the educational institution or program attended by the borrower to assist in the collection of a delinquent loan by providing information on the borrower to lenders and holders. Mandates performance standards and fees to be paid by lenders and holders for the servicing of loans and for the processing of loan default claims. Requires (currently, allows) reduction in Federal payments to borrowers who are practicing their professions and have defaulted on their loans. Modifies the circumstances under which a lender or holder is not required to prosecute an action for default. Requires assessment of a risk-based premium on an eligible borrower and, if required, an eligible institution that is based on the default rate of the eligible institution involved. Allows an institution to pay off the outstanding principal and interest owed by defaulters to reduce the risk category of the institution. Removes provisions regulating premiums for insurance on the loans. Bars Federal or State time limits on enforcement of repayment of the loans. Allows the student loan insurance fund to be used for making payments in connection with the administration as well as for the collection or default of insured loans. Authorizes the use of a specified amount for the Office for Health Education Assistance Loans. Requires that borrowers under the loan insurance program who enter and remain in specified primary care fields receive preference for participation in the National Health Service Corps Loan Repayment Program. Increases the maximum amount which may be repaid per year in return for the borrower serving in a health professional shortage area. Cancels the borrower's repayment obligation on death or total permanent disability (currently, on death). Limits discharge through bankruptcy. Mandates a report to specified congressional committees regarding the default rates for each institution, lender, and loan holder. Modifies the authority of the Secretary of Health and Human Services to issue regulations regarding specified aspects of the loan insurance program. Requires each participating institution to have an annual workshop on the requirements of the program and require all student borrowers to attend. Establishes, in the Bureau of Health Professions, the Office for Health Education Assistance Loans to achieve a reduction in the number and amounts of defaults on loans made or guaranteed under specified provisions. Authorizes appropriations for Federal capital contributions to student loan funds under specified provisions. Subtitle C: Direct Student Loan Health Demonstration Program - Establishes a direct student loan health demonstration program to make assistance available to certain institutions for those institutions to use to make direct loans to health professions students. Directs the Secretary to borrow up to a specified amount from the Secretary of the Treasury each year to provide the assistance to the institutions. Authorizes selection of up to 20 eligible institutions for the program. Sets forth institutional eligibility and other requirements. Makes student borrowers under this program ineligible for loans under other specified provisions. Requires certain collection efforts. Terminates the authority to make loans under these provisions five years after enactment. Modifies the loan repayment program for allied health personnel to allow repayment in exchange for service in a medically underserved or rural community that can demonstrate a shortage of allied health professionals in a recognized discipline. (Current law allows repayment in exchange for service in one of a list of types of facilities and agencies.) Authorizes appropriations for scholarships for students in specified health fields schools who are of exceptional financial need. Repeals provisions mandating grants for medical school scholarships for individuals agreeing to enter family practice (known as Lister Hill scholars). Authorizes appropriations for scholarships for individuals from disadvantaged backgrounds. Modifies eligibility requirements for individuals to participate in a loan repayment program regarding service on the faculties of certain health professions schools. Limits payments to 20 percent of the principal and interest due on a loan (currently, 50 percent) of the principal and interest due on a loan for a given repayment year). Authorizes appropriations. Subtitle D: Grants and Contracts for Programs and Projects - Modifies application requirements and priorities regarding grants to establish, maintain, or improve departments of family medicine. Authorizes appropriations. Requires that agreements for developing and operating area health education center programs remain in effect for six years. Sets forth priorities. Mandates contracts to health education and training centers to improve services along the U.S.-Mexico border and in other high-impact urban or rural areas (currently, along the U.S.-Mexico border). Sets forth priorities. Authorizes agreements with eligible schools of medicine and osteopathic medicine for the planning, development, and operation of State supported area health education center programs meeting specified requirements. Authorizes appropriations. Requires matching non-Federal contributions. Adds a school of osteopathic medicine, a school of public health, and a graduate program in clinical psychology to the definition of "health professions school" for provisions mandating grants or contracts (currently, mandating grants) for programs of excellence in health professions education for minority individuals. Authorizes appropriations for such grants. Allows grants and contracts under existing provisions to be used to: (1) plan, develop, and operate, or participate in (currently, to plan, develop, and operate) a professional training program, including a residency or internship program (currently a residency program) in internal medicine or pediatrics for allopathic and osteopathic students, interns, residents, or practicing physicians (currently, for residents); and (2) provide financial assistance to allopathic and osteopathic students, interns, residents, practicing physicians, or other medical personnel (currently, to residents) who plan to work in general internal medicine and general pediatrics. Authorizes appropriations. Modifies eligibility requirements. Allows grants and contracts for educational assistance to individuals from disadvantaged backgrounds to be used for graduate programs in clinical social work. Modifies preferences (currently, priorities) in making the grants and contracts. Authorizes appropriations. Removes provisions setting aside certain funds for specified purposes. Authorizes limited payment of stipends. Authorizes appropriations for grants for retention programs for health professions schools with individuals with disadvantaged backgrounds. Authorizes grants and contracts to increase the number of underrepresented minority faculty at certain types of health professions schools. Authorizes appropriations. Replaces provisions authorizing grants for two-year schools of medicine or osteopathy with provisions authorizing grants and contracts for studies and demonstration projects regarding health professions education, licensing, credentialing, continuing competency, and discipline. Replaces provisions authorizing grants and contracts for model projects on faculty and curriculum development and development of new clinical training sites with provisions authorizing grants and contracts regarding chiropractic health care. Repeals provisions authorizing grants and contracts for training in preventive medicine. Transfers and authorizes appropriations for remaining similar provisions. Authorizes appropriations for grants and contracts for training physician assistants. Authorizes appropriations for grants and contracts for: (1) studies and demonstration projects regarding health professions education, licensing, credentialing, continuing competency, and discipline; (2) chiropractic health care; and (3) certain projects with respect to hospitals and schools of podiatric medicine. Amends provisions relating to training with respect to acquired immune deficiency syndrome (AIDS) to modify eligibility for grants and contracts and allow such awards to be used with regard to: (1) faculty, students, and health professions practitioners (currently, faculty and students); (2) individuals infected with the human immunodeficiency virus (HIV) and individuals at high risk for such infection (currently, individuals with AIDS); and (3) developing curricula for care, treatment, and prevention (currently, care and treatment). Modifies preferences in making grants. Authorizes appropriations for: (1) the grants; and (2) grants to assist dental schools and certain programs with respect to oral health care to patients with AIDS. Modifies eligibility requirements regarding grants and contracts relating to geriatric education. Allows certain grants and contracts to be used to train physicians and dentists to teach geriatric medicine, geriatric psychiatry, or geriatric dentistry (currently, to teach geriatric medicine or geriatric dentistry). Modifies the associated training options. Authorizes appropriations. Subtitle E: Personnel in Public Health, Health Administration and Allied Health - Adds references to Healthy People 2000: National Health Promotion and Disease Prevention Objectives to provisions authorizing grants and contracts for certain special projects involving schools of public health. Sets forth purposes of such projects. Authorizes appropriations. Authorizes appropriations for grants for: (1) graduate programs in health administration; and (2) traineeships for students in other graduate programs. Requires that public health traineeships under existing provisions be used to increase the number of graduate students preparing to serve the Healthy People 2000 objectives. Sets forth priorities and preferences and modifies program requirements. Authorizes appropriations. Replaces provisions authorizing grants and contracts relating to the training of allied health professionals with provisions authorizing grants and contracts for: (1) increasing program enrollments or establishing programs to increase the number of individuals in allied health professions with demonstrated personnel shortages to provide individuals to serve in medically underserved or rural communities; (2) planning, developing, establishing, and operating certain allied health training programs; and (3) training centers for allied health professions for student traineeships. Authorizes appropriations. Allows grants and contracts for training of allied health professions to be used with regard to postbaccalaureate (currently, doctoral or postdoctoral) training. Sets forth preferences. Authorizes appropriations. Replaces provisions authorizing grants and contracts for educational assistance to disadvantaged individuals in allied health training with provisions establishing the Division of Allied Health in the Bureau of Health Professions. Subtitle F: Miscellaneous Programs - Modifies the functions and composition of and authorizes appropriations for the Council on Graduate Medical Education. Modifies the uses of grants and contracts under provisions relating to rural health training (currently, to health care for rural areas). Changes eligibility requirements. Removes provisions mandating a study of manpower training needs in rural areas. Authorizes appropriations. Establishes the Council on Medical Licensure to take specified actions, including giving advice regarding the establishment and operation of a system of verifying and maintaining information on the qualifications of individuals to practice medicine. Directs the Secretary of Health and Human Services to determine whether the system is operating efficiently and without discrimination on the basis of race, color, religion, gender, national origin, age, disability, marital status, or educational affiliation and, if the system fails either test, to make recommendations regarding establishment of an alternative system. Mandates an annual study of at least ten States regarding licensure of domestic and foreign medical graduates. Subtitle G: Repealers and Technical and Conforming Amendments - Repeals provisions relating to grants and loan guarantees and interest subsidies for construction of teaching facilities for medical, dental, and other health personnel. Modifies testing requirements for admission to the United States of aliens who are graduates of unaccredited medical schools. Title II: Provisions Relating to Title VIII - Nurse Education Improvement and Reauthorization Act of 1991 - Amends title VIII (Nurse Education) of the Public Health Service Act to authorize grants and contracts for special projects to: (1) provide education for nurses serving in medically underserved or rural communities (currently, provide continuing education for nurses); and (2) provide nursing education courses to rural areas (currently, to rural areas through telecommunications via satellite). Removes provisions authorizing grants and contracts for: (1) facilitating agreements between health facilities and nursing students regarding repayment of educational loans by the facilities in return for service by the students in the facilities; and (2) geriatrics health education centers. Allows grants for innovative hospital nursing practice models to also be used for models in primary care and long-term care settings. Authorizes appropriations. Authorizes appropriations for grants and contracts relating to advanced nurse education. Removes provisions requiring certain special considerations in making grants and contracts for the education of nurse practitioners and nurse midwives. Authorizes appropriations. Authorizes grants and contracts for support, including traineeships and fellowships, to develop resources or strengthen programs or faculty to address the National Health Objectives for the Year 2000. Authorizes appropriations. Authorizes appropriations for grants and contracts to increase nursing education opportunities for individuals from disadvantaged backgrounds. Makes non-nurses as well as nurses eligible for traineeships for masters and doctoral degree nursing programs, requiring non-nurses to first complete basic nursing preparation. Removes provisions authorizing grants for postbaccalaureate fellowships for faculty for certain studies. Authorizes appropriations for grants and contracts for advanced nurse education. Authorizes appropriations for grants for: (1) traineeships for licensed registered nurses to become nurse anesthetists and for developing and operating programs for the education of nurse anesthetists; and (2) improvement of existing programs for the education of nurse anesthetists. Authorizes appropriations for loan repayments, under existing provisions, in exchange for service in certain health facilities. Repeals provisions authorizing appropriations for allotments to schools of nursing for Federal capital contributions to their student loan funds. Amends remaining provisions relating to Federal capital contributions to allow allotted funds which have been returned to the Secretary of Health and Human Services to be available until expended (currently, to be available in the fiscal year of return and the subsequent fiscal year). Modifies requirements regarding the capital distribution of the balance of the loan fund. Requires certain scholarship recipients to serve as a nurse for a period equal to the number of years of the scholarship (currently, for a period of not less than two years). Authorizes appropriations. Repeals provisions authorizing loans to nursing students who enter into agreements with health facilities to engage in employment as nurses during a period of time not more than the period during which the students receive loan assistance. Prohibits making grants, loan guarantees, or interest subsidy payments under title VIII (Nurse Education) of the Public Health Service Act to any school of nursing which discriminates on the basis of race, color, religion, gender, national origin, age, disability, marital status, or educational affiliation (currently, on the basis of sex). Requires a report to specified congressional committees to be submitted every two years (currently, biannually). Authorizes grants for fellowships to licensed vocational or practical nurses, nursing assistants, and other paraprofessional nursing personnel to assist in obtaining professional nursing education to attain the level of registered nurse. Requires a fellowship recipient to contract with a long-term care facility certified under titles XVIII (Medicare) or XIX (Medicaid) of the Social Security Act to engage in full-time employment at the registered nurse level for a period not less than the period of assistance to the fellowship recipient. Authorizes appropriations. Authorizes grants to nursing schools for the establishment or expansion of clinical training sites or training affiliations to provide training and experience in primary care. Authorizes appropriations. Title III: Miscellaneous Provisions - Provides for the continuation of any grant or contract in effect on enactment of this Act for that grant or contract's full duration, notwithstanding termination by any provision of this Act.
Bill· SS. 1945 (102nd)open
United States · United States Congress · 7 November 1991
Emergency Unemployment Compensation Act of 1991 - Title I: Emergency Unemployment Compensation Program - Establishes an emergency unemployment compensation program. Allows any State to enter into and participate in an agreement with the Secretary of Labor (the Secretary) under which the State agency which administers the State unemployment compensation law will make payments of emergency unemployment compensation: (1) to individuals who have exhausted all rights to regular compensation under State law, have no rights to such regular compensation or any additional State or Federal compensation, and are not receiving Canadian compensation; and (2) for any week of unemployment beginning in the individual's eligibility period. Sets forth provisions relating to exhaustion of regular benefits and weekly amount of emergency benefits equal to regular benefits. Authorizes a State Governor, in a period of a seven or eight percent total unemployment rate in that State (as defined under this Act), to elect to trigger an extended compensation period to provide emergency unemployment compensation to individuals who have exhausted their rights to regular compensation under State law. Requires a State, under such an agreement, to establish an emergency unemployment compensation account with respect to the benefit year of each eligible individual who files an application. Limits benefit payments to not more than the amount in the individual's account. Sets forth formulas for determining the amount in such account. Provides that the applicable limit in such account shall be equal to: (1) 20 for an eight-percent period, i.e. one triggered by a total unemployment rate (TUR) of eight percent or more in the State, seasonally adjusted, for the most recent six calendar months with available data; (2) 13 for a seven-percent period; and (3) seven for a six-percent period or for any other period. Sets forth special rules relating to such applicable limits. Requires reduction in such account by the amount of extended benefits received by the individual relating to the same benefit year under the Federal-State Extended Unemployment Compensation Act of 1970. Sets the weekly benefit amount at the amount of regular compensation (including dependents' allowances) payable under the State law to the individual for such week for total unemployment. Provides for determination of periods and applicable triggers. Provides for a minimum period of at least 13 weeks. Provides, in general, that no emergency unemployment compensation shall be payable to any individual under this Act for any week beginning: (1) before the later of November 17, 1991, or the first week following the week in which an agreement under this Act is entered into; or (2) after August 1, 1992. Sets forth transition and reachback provisions for the eligibility of certain individuals for such benefits, as exceptions to such general rule. Provides for payments to States having such agreements for emergency unemployment compensation. Sets forth financing provisions. Requires that funds in the extended unemployment compensation account of the Unemployment Trust Fund be used to make payments to States having agreements under this Act. Sets forth provisions relating to fraud and overpayments. Defines the eligible period under this Act. Provides that in no event shall an individual's period of eligibility include any weeks after the 39th week after the end of the benefit year for which the individual exhausted rights to regular compensation or extended compensation. Title II: Demonstration Program to Provide Job Search Assistance - Directs the Secretary to carry out a demonstration program to determine the feasibility of implementing job search assistance programs. Requires selection of three States to participate in such program, based on specified criteria. Requires that at least one of these States will replicate a prior successful demonstration project for job search assistance. Sets forth requirements for the program agreement with these States. Requires a job search assistance program, for purposes of this title, to: (1) require certain unemployment compensation recipients to participate in a qualified intensive job search program (the program) after receiving such compensation for at least six but not more than ten weeks during any benefit year; (2) entitle such individuals to an intensive job search program voucher; and (3) disqualify those who do not satisfactorily participate in such program from receiving such compensation for a specified period of not more than ten weeks. Makes such program requirements applicable to such recipients if, during a specified three-year period, they had at least 126 weeks of employment at wages of $30 or more a week with their last employer (or an equivalent amount computed under prescribed regulations). Sets forth exceptions to such program requirements and program qualifications. Provides that such vouchers entitle the organization (including the State employment service) providing the program to a payment from the State agency equal to the lesser of: (1) the reasonable costs of providing the program; or (2) the average weekly benefit amount in the State. Requires Federal payments from the extended unemployment compensation account to each participating State's account in the Unemployment Trust Fund in an amount equal to the payments made by the State agency for such program vouchers. Provides for payments on a calendar month basis, and for certification by the Secretary. Directs the Secretary to submit two interim reports and a final report to the Congress on the demonstration program under this title. Title III: Other Provisions - Amends specified Federal law to repeal certain limitations on payment of unemployment compensation to former members of the armed forces. Reduces the length of required active duty by reserves for purposes of such payment. Amends the Federal Unemployment Tax Act (FUTA) provisions of the Internal Revenue Code to allow optional unemployment benefits for certain school employees, by making denial of such benefits discretionary rather than mandatory. Amends the Railroad Unemployment Insurance Act to provide temporary extended railroad unemployment insurance benefits, to railroad employees who have less than ten years of service, for certain periods of high national unemployment. Provides for such extended benefits for up to 13 weeks (65 days of unemployment), through July 4, 1992. Sets forth transition and reachback provisions. Amends the Social Security Act to establish an Advisory Council on Unemployment Compensation. Directs the Secretary to establish such a council by February 1, 1992, and every fourth year thereafter. Requires each such council to evaluate the unemployment compensation program. Sets forth membership and staff provisions. Requires each council to report to the President and the Congress by February 1 of the second year following the year in which it is required to be established. Requires the first Council report to include findings and recommendations on determining eligibility for extended unemployment benefits on the basis of unemployment statistics for regions, States, or subdivisions of States. Directs the Secretary, within 12 months, to report to the Congress a proposal for revising the method of allocating grants among the States for administration of the unemployment insurance program. Prohibits the Secretary from revising such method until 12 months after such report is submitted to the Congress. Directs the Secretary to give special consideration to providing services to dislocated workers in the Washington and Oregon timber industries in determining specified programs and activities to be funded under the Job Training Partnership Act in FY 1991 and 1992. Title IV: Budgetary Provisions - Subtitle A: Emergency Treatment - Provides that the following emergency designation provisions shall take effect only if, on or before the enactment date of this Act, the President: (1) has not submitted to the Congress either of the two written declarations described under specified effectiveness provisions of subtitles B and C; or (2) has submitted to the Congress both of such declarations. Provides that all direct spending amounts provided, and all appropriations authorized, by this Act shall be treated as emergency requirements designated by the President and the Congress under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Subtitle B: Reductions in Foreign Aid and Other Spending - Provides that this subtitle shall take effect only if the President: (1) submits to the Congress, not later than the enactment date of this Act, a written declaration of need for reductions in foreign aid and other spending; and (2) has not submitted, on or before such date, the written declaration described in subtitle C. Part I: Foreign Aid Reductions - Provides for reductions in foreign aid. Decreases certain discretionary spending limits in new budget authority, and outlays (under the Congressional Budget Act of 1974, as amended by the Balanced Budget and Emergency Deficit Control Act of 1985) for specified international categories and discretionary categories. Prohibits any such reductions from being achieved through reduction of: (1) domestic discretionary spending; or (2) assistance to the Camp David countries. Part II: Collection of Nontax Debts - Amends the Deficit Reduction Act to 1984 to provide for permanent extension of provisions relating to collection of nontax debts owed to Federal agencies. Part III: Guaranteed Student Loans - Amends title IV (Student Assistance) of the Higher Education of 1965 (HEA) to revise provisions relating to the Stafford student loan program (including guaranteed student loans and federally-insured student loans). Requires, in the case of such student loan applicants over age 21, that the lender: (1) obtain a credit report; and (2) require a cosigner for such applicants who have adverse credit histories. Allows the lender to charge such applicants for the actual cost of such credit reports, up to $25. Requires the lender to obtain the borrower's driver's license number, if any, at the time of application for such a student loan. Directs eligible institutions to require borrowers of any student loan under HEA to supply the following exit interview information: (1) their expected permanent address after leaving the institution; (2) the name and address of their expected employer; and (3) the name and address of their next of kin. Requires student loan interest-subsidy insurance program agreements to require the lender to obtain the borrower's authorization for entry of judgment against the borrower in the event of default. Provides for wage garnishment for student loan collection. Authorizes a guaranty agency, or the Secretary where appropriate, to garnish the disposable pay of an individual to collect the amount owed or the required repayment, subject to certain conditions. Provides for data matching. Authorizes the Secretary of Education to obtain from Federal agencies specified information relating to an individual for student loan collection purposes. Amends the Higher Education Technical Amendments of 1991 (P.L. 102-26) to revise provisions relating to limitation of actions for collection of student loan repayments and grant overpayments. Subtitle C: Alternative Financing Provisions - Provides that this subtitle and parts II and III of subtitle B shall take effect only if the President: (1) submits to the Congress, not later than the enactment date of this Act, a written declaration of the need for the financing provisions under this subtitle; and (2) has not submitted, on or before such date, the written declaration described in subtitle B. Amends the Federal Unemployment Tax Act (FUTA) provisions of the Internal Revenue Code to extend the surtax imposed on employers through 1996. Amends the Internal Revenue Code to limit the use of the preceding year's tax for purposes of determining individual estimated tax payments. Subtitle D: General Budgetary Provisions - Exempts payments (including budget authority and outlays for administrative expenses incurred in connection with this Act) relating to emergency unemployment compensation under titles I, II, and III of this Act from any order issued under specified sequestration provisions of the Balanced Budget and Emergency Deficit Control Act of 1985. Provides that all receipts and direct spending amounts provided, and all appropriations authorized, by this Act shall be counted as zero for all purposes under the Balanced Budget and Emergency Deficit Control Act of 1985 and for purposes of all points of order under the Congressional Budget Act of 1974, with specified exceptions for considering such amounts for: (1) construction of the baseline for the President's budget and the congressional budget; and (2) adjustment of the maximum deficit amount to reflect up-to-date reestimates of the effects of this Act on the deficit.
Bill· SS. 1934 (102nd)referred
United States · United States Congress · 7 November 1991
Amends the Merchant Marine Act, 1936, and the Internal Revenue Code to permit participants in the Merchant Marine Capital Construction Fund to reduce their self-employment income by the amount of contributions to such Fund. Makes nonqualified withdrawals subject to the self-employment tax.
Bill· SS. 1929 (102nd)referred
United States · United States Congress · 7 November 1991
Amends the Internal Revenue Code to exclude from gross income interest received during a taxable year up to $2,500 ($5,000 in the case of a joint return). Makes such exclusion applicable to distributions from regulated investment companies and real estate investment trusts. Makes certain nonresident aliens ineligible for such exclusion.