Job Creation and Wage Enhancement Act of 1995

Summary

TABLE OF CONTENTS: Title I: Capital Gains Reform Title II: Neutral Cost Recovery Title III: Risk Assessment and Cost/Benefit Analysis for New Regulations Subtitle A: Risk Assessment and Communication Subtitle B: Analysis of Risk Reduction Benefits and Costs Subtitle C: Peer Review Title IV: Establishment of Federal Regulatory Budget Cost Control Title V: Strengthening of Paperwork Reduction Act Subtitle A: Authorization of Appropriations Subtitle B: Reducing the Burden of Federal Paperwork on the Public Subtitle C: Enhancing Government Responsibility and Accountability for Reducing the Burden of Federal Paperwork Subtitle D: Enhancing Agency Responsibility for Sharing and Disseminating Public Information Subtitle E: Additional Government Information Management Responsibility Subtitle F: Effective Dates Title VI: Strengthening Regulatory Flexibility Title VII: Regulatory Impact Analyses Title VIII: Protection Against Federal Regulatory Abuse Subtitle A: Citizens' Regulatory Bill of Rights Subtitle B: Private Sector Whistleblowers' Protection Title IX: Private Property Rights Protections and Compensation Title X: Establishment of Federal Mandate Budget Cost Control Title XI: Taxpayer Debt Buy-Down Title XII: Small Business Incentives Job Creation and Wage Enhancement Act of 1995 - Tit: I: Capital Gains Reform - Amends the Internal Revenue Code to allow a 50 percent income tax deduction for the net capital gain of both corporate and noncorporate taxpayers. (Sec. 1002) 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 or 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. (Sec. 1003) Allows an itemized deduction for losses arising from the sale or exchange of a principal residence. Title: : Neutral Cost Recovery - Allows the depreciation deduction to be computed based on a neutral recovery basis for property placed in service after December 31, 1994. Title III: Risk Assessment and Cost/Benefit Analysis for New Regulations - Subtitle A: Risk Assessment and Communication - Risk Assessment and Communication Act of 1995 - Requires the head of each Federal agency to apply specified principles when preparing risk assessments in order to assure that such assessments and all of their components distinguish scientific findings from other considerations and are scientifically objective, unbiased, and inclusive of all relevant data. (Sec. 3105) Directs such agencies to comply with specified requirements (with respect to risk estimates, exposure scenarios, comparisons, and substitution risks) in characterizing risk in any risk assessment document, regulatory proposal or decision, report to the Congress, or other document which is made available to the public. (Sec. 3106) Requires the President to: (1) issue guidelines, subject to periodic review, consistent with such risk assessment and characterization principles; and (2) provide a format for summarizing risk assessment results. Requires each Federal agency to publish a plan (including procedures for receiving and considering new information and risk assessments from the public) to review and revise any risk assessment published before a certain date if significant new information or methodologies are available that could significantly alter the results of such risk assessment; and evaluate for the Congress certain categories of policy and value judgments. Subtitle B: Analysis of Risk Reduction Benefits and Costs - Directs the President to require each executive agency to prepare specified assessments for each major rule designed to protect human health, safety, or the environment it proposes or promulgates. (Sec. 3201) Requires for any proposed or promulgated rule: (1) assessments of incremental costs and incremental risk reduction or other benefits associated with each significant regulatory alternative (SRA) considered in connection with the rule; (2) comparisons to other selected risks of any human health, safety, or environmental risks addressed by an SRA; and (3) a statement of substitution risks and other human health risks potentially posed by the SRAs. Requires for each final rule: (1) an assessment of the costs and risk reduction or other benefits associated with it, plus a certification that this assessment is based on an objective and unbiased scientific and economic evaluation of all significant and relevant information provided by interested parties; and (2) certain other certifications, including one that no statute-allowed regulatory alternative would achieve an equivalent risk reduction. Requires the head of each agency, for each such major rule, to publish its assessment information in the Federal Register. Subtitle C: Peer Review - Requires: (1) the head of each Federal agency to develop a systematic program meeting specified requirements for peer review of risk and economic assessments used by the agency for regulatory programs addressing human health, safety, or the environment; (2) each Federal agency to provide for peer review of scientific and economic information used for, among other things, evaluating certain risk assessments; and (3) the Director of the Office of Management and Budget (OMB) to order that peer review be provided for any major risk or cost assessment that may have a significant impact on public policy decisions. (Sec. 3301) Requires: (1) each Federal agency head to write a response to all significant peer review comments; and (2) all peer review comments, conclusions, and agency responses to be available to the public and part of the administrative record for judicial review purposes. Directs the President to appoint National Peer Review Panels to review annually all agency risk and cost assessment practices for programs designed to protect human health, safety, or the environment. Title IV: Establishment of Federal Regulatory Budget Cost Control - Amends the Congressional Budget Act of 1974 to require the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO) to jointly report to the President and the Congress on direct costs to the private sector of complying with Federal regulations. Requires such reports to be issued in five-year intervals. Provides for initial and subsequent annual reports to the President and the Congress on an aggregate regulatory baseline which is a project of the aggregate direct cost to the private sector of complying with Federal regulations for budget years and outyears. Requires a concurrent resolution on the budget to include reconciliation directives specifying changes: (1) in laws and regulations necessary to reduce, by specified percentages, such direct costs; and (2) in laws necessary to reduce, by specified percentages, personnel and administrative overhead and to achieve programmatic savings. Provides for the allocation of aggregate two-year regulatory authority among congressional committees. Requires the CBO to submit to the appropriate committees (except the Committees on Appropriations) an analysis of private sector regulatory costs for each public bill or resolution. (Sec. 4002) Requires the President's annual budget submissions to comply with reconciliation directives. (Sec. 4003) Amends the Regulatory Flexibility Act to require Federal agencies to prepare an analysis of the costs that will be incurred by small entities, other businesses, and individuals in complying with proposed agency rules. Title V: Strengthening of Paperwork Reduction Act - Paperwork Reduction Act of 1995 - Subtitle A: Authorization of Appropriations - Amends Federal law to authorize increased appropriations to the Office of Information and Regulatory Affairs (OIRA). Subtitle B: Reducing the Burden of Federal Paperwork on the Public - Amends Federal law to: (1) ensure coverage of all aspects of federally imposed paperwork burdens; and (2) revise provisions on assignment of tasks and deadlines, providing for Government-wide as well as individual agency goals of further reductions in such burdens by five percent increments each fiscal year for five fiscal years. Subtitle C: Enhancing Government Responsibility and Accountability for Reducing the Burden of Federal Paperwork - Amends Federal law with respect to the authority and functions of the OMB Director and public information collection activities, among other changes providing for: (1) procedures under which an agency must estimate the burden of compliance with any proposed collection of information; (2) expedited OMB review of proposed information collection requests; and (3) protection for whistleblowers of unauthorized paperwork burden. (Sec. 5306) Revises public participation requirements with regard to the review of information collections. (Sec. 5307) Provides that upon the request of an agency head, the Director shall approve a proposed change to an existing information collection request within 30 days after receiving it. Subtitle D: Enhancing Agency Responsibility for Sharing and Disseminating Public Information - Gives the Director additional specified functions related to agency dissemination and sharing of public information. (Sec. 5402) Delineates agency responsibilities for sharing and disseminating public information. (Sec. 5403) Abolishes the Federal Information Locator System, replacing it with systems for agency inventory of information dissemination products, available for public access by electronic means at no charge. Subtitle E: Additional Government Information Management Responsibility - Revises the statistical policy and coordination functions of the OMB Director. (Sec. 5503) Requires the Director's annual report to the Congress on Federal information policy coordination activities to include certain additional information, including listings of increases in paperwork burdens. (Sec. 5504) Includes as a new automatic data processing function of the Director developing and annually revising a five-year plan for meeting the automatic data processing equipment and other information technology needs of the Federal Government. Subtitle F: Effective Dates - Sets forth the effective dates for this title. Title VI: Strengthening Regulatory Flexibility - Amends Federal civil service law to repeal the ban on judicial review of regulatory flexibility analyses and other specified applications of such law to agency actions. (Sec. 6002) Requires consideration of direct and indirect effects of rules, as well as transmittal of proposed rules and initial regulatory flexibility analysis to the Chief Counsel for Advocacy of the Small Business Administration for possible reply in the form of a statement of opposition to the proposed rule. (Sec. 6004) Expresses the sense of the Congress that such official should be permitted to appear as amicus curiae in any action or case brought in a U.S. court for the purpose of reviewing a rule. Title VII: Regulatory Impact Analyses - Administrative Procedure Reform Act of 1995 - Amends Federal civil service law to: (1) provide for rulemaking notices for major rules, including a final Regulatory Impact Analysis; (2) add hearing requirements for proposed rules; (3) extend the comments period; and (4) require the head of an agency to publish in the Federal Register responses to comments received regarding the rule. (Sec. 7004) Provides for the general application of Executive Order 12291 (relating to Federal regulation requirements and regulatory impact analysis) to each agency, with each preliminary and final Regulatory Impact Analysis required for a rule under the Order containing specified information in lieu of the information currently required. (Sec. 7005) Prohibits an agency from adopting a major rule unless the final Regulatory Impact Analysis for the rule is approved by the OMB Director or by an individual designated by the Director for that purpose. (Sec. 7006) Prohibits, to the extent practicable, the head of an agency from publishing in the Federal Register any proposed major rule, summary of a proposed major rule, or Regulatory Impact Analysis unless the OMB Director certifies that, among other things, it: (1) is written in a reasonably simple and understandable manner and is easily readable; and (2) provides adequate notice of the content of the rule, summary, or Analysis to affected and interested persons that have some subject matter expertise. (Sec. 7007) Requires the OMB Director to report to the Congress analyses of rulemaking procedures of Federal agencies and their impact on the regulated public and regulatory process. Title VIII: Protection Against Federal Regulatory Abuse - Subtitle A: Citizens' Regulatory Bill of Rights - Grants certain regulatory rights, such as the right to have an attorney or accountant present, to any person who is the target of a Federal investigative or enforcement action upon the initiation of an inspection, investigation, or other official proceeding directed against that person, except in cases where to do so would substantially delay responding to an imminent danger to person or property or substantially or unreasonably impede a criminal investigation. Subtitle B: Private Sector Whistleblowers' Protection - Private Sector Whistleblowers' Protection Act of 1995 - Outlines protection against reprisal through specified prohibited regulatory practices for disclosure of information that any person subject to Federal or certain State regulation believes is indicative of waste, fraud, or abuse. (Sec. 8208) Provides that any person with reason to believe that an agency employee has engaged in a prohibited regulatory practice may request the Special Counsel to investigate. Title IX: Private Property Rights Protections and Compensation - Entitles a private property owner to receive compensation from the United States in accordance with specified guidelines for any agency infringement or deprivation of rights with regard to their property. Prescribes procedures for obtaining such compensation. Title X: Establishment of Federal Mandate Budget Cost Control - Amends the Congressional Budget Act of 1974 to set forth reporting requirements for OMB and CBO with respect to reducing the direct costs to States and local governments of complying with Federal mandates. Requires concurrent resolutions on the budget to provide for such reductions until such costs do not exceed three percent of the estimated gross domestic product for the same fiscal year as the costs will be incurred. Requires CBO to prepare an analysis of mandated costs for States and local governments for each public bill or resolution reported in the Congress (except those from Appropriations Committees). Requires a similar analysis in the President's annual budget submissions. (Sec. 10003) Requires initial regulatory flexibility analyses for proposed rules that establish or implement new Federal mandates to contain a description of the nature and amount of monetary costs to be incurred by State and local governments. Requires Federal agencies to prepare a cost estimate and cost/benefit analysis of such mandates that would cost State and local governments at least $10 million for a fiscal year. Title XI: Taxpayer Debt Buy-Down - Amends the Internal Revenue Code to allow every individual with adjusted income tax liability to designate on their tax returns that a portion of such liability (not to exceed ten percent) be used to reduce the public debt. (Sec. 11002) Establishes a Public Debt Reduction Trust Fund for the deposit of designated amounts. Makes amounts in such Trust Fund available only to pay at maturity, or to redeem or buy before maturity, any obligation of the Federal Government included in the public debt. Prohibits the reissuance of any obligation which is paid, redeemed, or bought with amounts from the Trust Fund. (Sec. 11003) Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to provide for the sequestration of amounts designated to the Trust Fund. Specifies accounts exempt from such sequestration. Includes aggregated amounts designated to the Trust Fund and amounts sequestered to reduce the public debt in sequestration preview and final reports. Title XII: Small Business Incentives - Amends the Internal Revenue Code to increase the unified credit against the estate tax and the unified credit against the gift tax and provide a cost-of-living adjustment for such credits. (Sec. 12002) Increases the dollar limitation on the election to expense certain depreciable business assets. (Sec. 12003) Provides qualifications for a home office as a principal place of business for purposes of the deductibility of expenses.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 4 January 1995

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committees on Commerce, Government Reform and Oversight, the Budget, Rules, the Judiciary, and Science, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 4 January 1995

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committees on Commerce, Government Reform and Oversight, the Budget, Rules, the Judiciary, and Science, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 4 January 1995

   Introduced

   Introduced in House

   Source: IntroReferral

4. 4 January 1995

   Introduced

   Introduced in House

   Source: IntroReferral

5. 5 January 1995

   Introduced

   Sponsor introductory remarks on measure. (CR E49)

   Source: IntroReferral

6. 13 January 1995

   Referred

   Referred for a period ending not later than February 3 1995, (or for a later time if the Chairman so designates) to the Subcommittee on Commerce, Trade, and Hazardous Materials.

   Source: Committee

7. 20 January 1995

   Referred

   Referred to the Subcommittee on National Economic Growth, Natural Resources and Regulatory Affairs.

   Source: Committee

8. 24 January 1995

   Committee

   Committee Hearings Held.

   Source: Committee

9. 25 January 1995

   Committee

   Committee Hearings Held.

   Source: Committee

10. 26 January 1995

    Committee

    Committee Hearings Held.

    Source: Committee

11. 31 January 1995

    Committee

    Committee Hearings Held on Title III, Risk Assessment and Cost/Benefit Analysis for New Regulations.

    Source: Committee

12. 1 February 1995

    Committee

    Joint Hearings Held by the Subcommittee on Commerce, Trade and Hazardous Materials and by the Subcommittee on Health and Environment.

    Source: Committee

13. 1 February 1995

    Committee

    Committee Hearings Held.

    Source: Committee

14. 2 February 1995

    Committee

    Joint Hearings Held by the Subcommittee on Commerce, Trade and Hazardous Materials and by the Subcommittee on Health and Environment.

    Source: Committee

15. 2 February 1995

    Committee

    Committee Hearings Held on Title III, Risk Assessment and Cost/Benefit Analysis for New Regulations.

    Source: Committee

16. 2 February 1995

    Committee

    Subcommittee on Commerce, Trade, and Hazardous Materials Discharged.

    Source: Committee

17. 3 February 1995

    Committee

    Subcommittee on Energy and Power Discharged.

    Source: Committee

18. 7 February 1995

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

19. 8 February 1995

    Reported

    Ordered to be Reported (Amended) by Voice Vote.

    Source: Committee

20. 8 February 1995

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

21. 9 February 1995

    Introduced

    Rereferred to the House Committee on Small Business for Titles V, VI and Section 4003.

    Source: IntroReferral

22. 9 February 1995

    Referred

    RE-REFERRAL OF H.R. 9 - Mr. Kolbe asked unanimous consent that titles V, VI and section 4003 of H.R. 9 be re-referred to the Committee on Small Business as an additional committee of jurisdiction. Agreed to without objection.

    Source: Floor

23. 15 February 1995

    Reported

    Reported (Amended) by the Committee on Commerce. H. Rept. 104-33, Part I.

    Source: Committee

24. 15 February 1995

    Reported

    Reported (Amended) by the Committee on Commerce. H. Rept. 104-33, Part I.

    Source: Committee

25. 2 March 1995

    Introduced

    Sponsor introductory remarks on measure. (CR H2494)

    Source: IntroReferral

26. 3 March 1995

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

27. 3 March 1995

    Vote

    On passage Passed by the Yeas and Nays: 277 - 141 (Roll no. 199).

    Source: Floor

28. 3 March 1995

    Vote

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 277 - 141 (Roll no. 199).

    Source: Floor

29. 3 March 1995

    Vote

    On motion to recommit with instructions Failed by recorded vote: 180 - 239 (Roll no. 198). (consideration: CR H2638)

    Source: Floor

30. 3 March 1995

    Floor

    The previous question was ordered pursuant to the rule.

    Source: Floor

31. 3 March 1995

    Floor

    Rule provides for consideration of H.R. 925 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. It shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule the amendment in the nature of a substitute recommended by the Committee on the Judiciary now printed in the bill. Measure will be considered read. Specified amendments are in order. After passage of H.R. 925, it shall be in order to consider in the House H.R. 9. All points of order against the bill and against its consideration are waived. The previous question shall be considered as ordered on the motion to amend and on the bill to final passage without intervening motion except one motion to recommit with or without instructions.

    Source: Floor

32. 3 March 1995

    Floor

    Mr. Spratt moved to recommit with instructions to Science, Space and Technology.

    Source: Floor

33. 3 March 1995

    Passed

    The House struck all after Section 1 and inserted in lieu thereof the provisions of a text composed of 4 divisions: 1) H.R. 830; 2) H.R. 925; 3) H.R. 926; and 4) H.R. 1022, as each bill was as passed by the House.

    Source: Floor

34. 3 March 1995

    Floor

    Considered under the provisions of rule H. Res. 101. (consideration: CR H2607-2639)

    Source: Floor

35. 9 March 1995

    Introduced

    Received in the Senate and read twice and referred to the Committee on Governmental Affairs.

    Source: IntroReferral

36. 13 March 1995

    Committee

    See Also H.R.1215.

    Source: Committee

Votes

No vote records are attached yet.

Versions

• Referred in Senate · 9 March 1995 · Download file
• Engrossed in House · 3 March 1995 · Download file
• Introduced in House · 9 February 1995 · Download file

Documents

8 official files

• Referred in Senate (text)

  Referred in Senate · EN · 9 March 1995

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• Passed House amended

  summary · EN · 3 March 1995

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Sponsors

• Rep. Archer, Bill [R-TX-7] · R · Sponsor
• Rep. DeLay, Tom [R-TX-22] · R · Sponsor
• Rep. Saxton, Jim [R-NJ-3] · R · Sponsor
• Rep. Smith, Linda [R-WA-3] · R · Sponsor
• Rep. Tauzin, W. J. (Billy) [R-LA-3] · R · Sponsor
• Rep. Hastert, J. Dennis [R-IL-14] · R · Sponsor
• Rep. Dornan, Robert K. [R-CA-46] · R · Sponsor
• Rep. Rohrabacher, Dana [R-CA-48] · R · Sponsor
• Rep. Blute, Peter I. [R-MA-3] · R · Sponsor
• Rep. Smith, Lamar [R-TX-21] · R · Sponsor
• Rep. Linder, John [R-GA-7] · R · Sponsor
• Rep. Kim, Jay [R-CA-41] · R · Sponsor
• Rep. Mica, John L. [R-FL-7] · R · Sponsor
• Rep. Bachus, Spencer [R-AL-6] · R · Sponsor
• Rep. Danner, Pat [D-MO-6] · D · Sponsor
• Rep. Hoke, Martin R. [R-OH-10] · R · Sponsor
• Rep. Clinger, William F., Jr. [R-PA-5] · R · Sponsor
• Rep. Ballenger, Cass [R-NC-10] · R · Sponsor
• Rep. Callahan, Sonny [R-AL-1] · R · Sponsor
• Rep. Shaw, E. Clay, Jr. [R-FL-22] · R · Sponsor
• Rep. Nussle, Jim [R-IA-2] · R · Sponsor
• Rep. Largent, Steve [R-OK-1] · R · Sponsor
• Rep. Cox, Christopher [R-CA-48] · R · Sponsor
• Rep. Stockman, Steve [R-TX-36] · R · Sponsor
• Rep. Smith, Nick [R-MI-7] · R · Sponsor
• Rep. Baker, Bill [R-CA-10] · R · Sponsor
• Rep. Herger, Wally [R-CA-2] · R · Sponsor
• Rep. Heineman, Frederick K. (Fred) [R-NC-4] · R · Sponsor
• Rep. Fowler, Tillie [R-FL-4] · R · Sponsor
• Rep. Sensenbrenner, F. James, Jr. [R-WI-5] · R · Sponsor
• Rep. Stearns, Cliff [R-FL-6] · R · Sponsor
• Sen. Hutchinson, Tim [R-AR] · R · Sponsor
• Rep. Hancock, Mel [R-MO-7] · R · Sponsor
• Sen. Talent, Jim [R-MO] · R · Sponsor
• Rep. Emerson, Bill [R-MO-8] · R · Sponsor
• Rep. English, Phil [R-PA-3] · R · Sponsor
• Sen. Ensign, John [R-NV] · R · Sponsor
• Rep. Hostettler, John N. [R-IN-8] · R · Sponsor
• Rep. Jones, Walter B., Jr. [R-NC-3] · R · Sponsor
• Rep. Tiahrt, Todd [R-KS-4] · R · Sponsor
• Rep. Myrick, Sue Wilkins [R-NC-9] · R · Sponsor
• Rep. Ewing, Thomas W. [R-IL-15] · R · Sponsor
• Rep. Houghton, Amo [R-NY-31] · R · Sponsor
• Rep. Cubin, Barbara [R-WY-At Large] · R · Sponsor
• Rep. Kingston, Jack [R-GA-1] · R · Sponsor
• Rep. Hastings, Doc [R-WA-4] · R · Sponsor
• Rep. Ganske, Greg [R-IA-4] · R · Sponsor
• Rep. Schaefer, Dan [R-CO-6] · R · Sponsor

Showing 48 of 147 sponsors and actors.

Related records

• related to ← Private Property Protection Act of 1995
• related to ← Paperwork Reduction Act of 1995
• related to ← Regulatory Reform and Relief Act
• related to ← Risk Assessment and Cost-Benefit Act of 1995