Psychotropic Substances Act of 1978

(Senate agreed to House amendments with an amendment)

Psychotropic Substances Act - =Title I: Enabling Provisions for the Convention on Psychotropic Substances= - Amends the Controlled Substances Act, the Controlled Substances Import and Export Act, the Federal Food, Drug, and Cosmetic Act and the Public Health Service Act to meet obligations under the Convention on Psychotropic Substances.

=Title II: Criminal Penalties and Piperidine Reporting= - Sets forth penalties for the manufacture, distribution, or possession with intent to manufacture or distribute phencyclidine (PCP) and its salts.

Prohibits the possession of piperidine with intent to manufacutre, or with reasonable cause to believe such piperidine will be used to manufacture phencyclidine.

Establishes criminal penalties for violation of such prohibition.

Requires, with respect to each transfer of piperidine, that the seller report certain information about the buyer to the Attorney General and that the buyer present positive identification. Requires importers to report such shipment of piperidine received.

Requires the Attorney General, after consultation with the Secretary of Health, Education, and Welfare, to analyze and evaluate the impact and effectiveness of this Title, particularly on the illicit manufacture and use of phencyclidine and on legitimate distributions and uses of piperidine, and to report his findings and recommendations to the President and the Congress.

=Title III: Forfeiture of Proceeds of Illegal Drug Transactions= - Provides for the seizure and forfeiture of moneys, negotiable instruments, and securities furnished in exchange for controlled substances.