Allows certain New York City pension plans to retain their tax-exempt status, until 1982, under the provisions of the Internal Revenue Code, even though they purchase debt obligations issued by or for the city of New York. Permits participating pension plans to acquire city or agency obligations if the agreement is not disapproved by the Secretary of the Treasury.
Stipulates the factors to be taken into account by the Secretary, including: (1) the amount of debt obligations that a plan may acquire; (2) the terms of the obligations to be acquired; (3) the assurances of significant participation by the State or private sources; (4) the progress being made by the city towards a balanced budget; (5) the fact that an acquisition might result in the plan having a negative cash flow in the fiscal year of acquisition; and (6) the necessary reports and audits being submitted by the plans and the city.
Amend the Social Security Act to provide for continued Federal matching funds for child support collection and paternity establishment services to non-AFDC (Aid to Families with Dependent Children) families on a permanent basis.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
Reported to House from the Committee on Ways and Means with amendment, H. Rept. 95-163.
Reported to House from the Committee on Ways and Means with amendment, H. Rept. 95-163.
Measure called up under motion to suspend rules and pass in House.
Measure considered in House.
Passed/agreed to in House: Measure passed House, amended, roll call #179 (372-6).
Roll Call #179 (House)Measure passed House, amended, roll call #179 (372-6).
Roll Call #179 (House)Referred to Senate Committee on Finance.
Reported to Senate from the Committee on Finance with amendment, S. Rept. 95-956.
Reported to Senate from the Committee on Finance with amendment, S. Rept. 95-956.
Senate vitiated its action on report of 6/26/78.
Reported to Senate from the Committee on Finance with amendment, S. Rept. 95-956.
Reported to Senate from the Committee on Finance with amendment, S. Rept. 95-956.
Call of calendar in Senate.
Measure considered in Senate.
Passed/agreed to in Senate: Measure passed Senate, amended.
Measure passed Senate, amended.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line