Kongress-Research-Service-Berichte Juli 2015 2014 Farm Bill-Bestimmungen und WTO-Konformität 6. Januar 2012 R43817 Schnepf, Randy Abtreibung: Justizgeschichte und Legislative Antwort 24. März 2014 RL33467 Shimabukuro, Jon O. Affirmative Aktion und Vielfalt in der öffentlichen Bildung: Rechtliche Entwicklungen 18. Oktober 2012 , 2012 RL30410 Feder, Jody African-American Mitglieder des United States Congress: 1870-2012 26. November 2012 RL30378 Manning, Jennifer E. Shogan, Colleen J. Landwirtschaftliche Katastrophenhilfe 29. August 2013 RS21212 Shields, Dennis A. Landwirtschaft in der WTO: Grenzen für die häusliche Unterstützung September 18, 2014 RS20840 Schnepf, Randy Aiding, Abting und dergleichen: Ein abgekürzter Überblick über 18 USC 2. Oktober 24, 2014 R43770 Doyle, Charles Aiding, Abetting und dergleichen: Ein Überblick über 18 U. S.C. 2. Oktober 24, 2014 R43769 Doyle, Charles Alternative Mindeststeuer für Einzelpersonen 20. September 2012 RL30149 Maguire, Steven Analyse der Verteilung des Vermögens über die Haushalte, 1989-2010 17. Juli 2012 RL33433 Levine, Linda Analyse der regulatorischen Belastung auf kleine Banken 6. Januar 2012 R43999 Hoskins, Sean M. et al. Analyse des Steuerausschlusses für abgebrochene Hypothekeneinnahmen 12. Februar 2013 RL34212 Keightley, Mark P. Lunder, Erika Terminvereinbarung für US-Kreis - und Bezirksgericht Nominierungen: Ein Überblick 22. Oktober 2014 R43762 Rutkus, Denis Steven Mittel Unterausschuss Struktur: Geschichte von Änderungen von 1920 bis 2013 5. Februar 2013 RL31572 Tollestrup, Jessica Arctic National Wildlife Refuge (ANWR): Ein Primer für den 112. Kongress 14. Februar 2012 RL33872 Corn, M. Lynne et al. Auktion-Rate-Wertpapiere 17. Juli 2012 RL34672 Austin, D. Andrew Aviation War Risk Insurance: Hintergrund und Optionen für den Kongress 5. September 2014 R43715 Elias, Bart et al. Ballast-Wasser-Management, um Invasive Arten zu bekämpfen 10. April 2012 RL32344 Buck, Eugene H. Bayh-Dole Gesetz: Ausgewählte Probleme in der Patentpolitik und der Kommerzialisierung der Technologie 3. Dezember 2012 RL32076 Schacht, Wendy H. Breitband-Internet-Zugang und die digitale Teilung: Federal Assistance Programme 17. Juli 2013 RL30719 Kruger, Lennard G. Gilroy, Angele A. Breitband-Darlehen und Zuschuss-Programme in der USDA8217s Rural Utilities Service 12. Juli 2013 RL33816 Kruger, Lennard G. Budget Control Act und Trends in Discretionary Ausgaben 26. November, 2014 RL34424 Austin, D. Andrew Budget Versöhnung Prozess: Zeitplan der Legislative Aktion 24. Oktober 2013 RL30458 Lynch, Megan S. Kandidaten, Gruppen und die Kampagne Finanzen Umwelt 6. Januar 2012 IN10280 Garrett, R. Sam Casework in einem Kongresszentrum: Hintergrund, Regeln, Gesetze und Ressourcen 24. November 2014 RL33209 Petersen, R. Eric Chained Consumer Price Index: Was ist es und wäre es angemessen für Kosten-von-Leben Anpassungen Juni 12, 2013 RL32293 Whittaker, Julie M. Child Labor In Amerika: Geschichte, Politik und Legislative Issues 18. November 2013 RL31501 Mayer, Gerald Child Support Durchsetzung Programm Incentive Payments: Hintergrund und politische Fragen 2. Mai 2013 RL34203 Solomon-Fears, Carmen Child Welfare: Profile der aktuellen und ehemaligen älteren Pflege Jugendlichen Basierend auf der Nationalen Jugend in der Übergangsdatenbank (NYTD) 6. Oktober 2014 R43752 Fernandes-Alcantara, Adrienne L. Zivile Nukleare Abfallentsorgung 2. Dezember 2013 RL33461 Holt, Mark Saubere Kohle Darlehen Garantien und Steuer Anreize: Fragen in Kürze 19. August 2014 R43690 Folger, Peter Sherlock, Molly F. Clean Water Act: Eine Zusammenfassung des Gesetzes 30. Oktober 2014 RL30030 Copeland, Claudia Cloture Versuche auf Nominierungen: Daten und historische Entwicklung 26. Juni 2013 RL32878 Beth, Richard S. Codes of Conduct for Multinational Corporations: Ein Überblick April 16, 2013 RS20803 Jackson, James K. Gedenken im Kongress: Optionen für die Ehrung von Einzelpersonen, Gruppen und Veranstaltungen 6. Januar 2012 R43539 Straus, Jacob R. et al. Kommerzielle Fischerei Katastrophenhilfe Januar 10, 2013 RL34209 Upton, Harold F. Ausschuss Markup-Prozess im Repräsentantenhaus 28. November 2014 RL30244 Schneider, Judy Gemeinsame Core State Standards und Assessments: Hintergrund und Fragen 2. September 2014 R43711 Skinner, Rebecca R. Feder, Jody Common Core State Standards: Häufig gestellte Fragen 15. September 2014 R43728 Skinner, Rebecca R. Feder, Jody Häufig verwendete Bewegungen und Anfragen im Repräsentantenhaus 15. März 2013 RL32207 Davis, Christopher M. Community Services Block Stipendien (CSBG ): Hintergrund und Finanzierung Mai 24, 2013 RL32872 Spar, Karen Kongress-Aktion auf FY2015 Mittel Maßnahmen 5. November 2014 R43776 Tollestrup, Jessica Kongress-Budget-Resolutionen: Historische Informationen 7. Februar 2014 RL30297 Heniff, Bill Jr. Kongress-Goldmedaillen, 1776-2014 29. April 2014 RL30076 Glassman, Matthew Eric Kongress Mitgliedschaft und Ernennung Behörde für Beratungsgremien, Boards und Gruppen 5. Februar 2013 RL33313 Glassman, Matthew Eric Kongress-Nominierungen zu US Service Academies: Ein Überblick und Ressourcen für Outreach und Management 30. November 2012 RL33213 Petersen, R. Eric Kongress-Macht, um Bundesgerichte zu schaffen: Ein rechtlicher Überblick 1. Oktober 2014 R43746 Nolan, Andrew Thompson, Richard M. II Kongress-Gehälter und Zulagen 7. Januar 2014 RL30064 Brudnick, Ida A. Congress8217s Verachtung Macht und die Vollstreckung Von Kongress-Vorladungen: Eine Skizze 10. April 2014 RL34114 Garvey, Todd Dolan, Alissa M. Congress8217s Verachtung Macht und die Durchsetzung von Kongress-Vorladungen: Recht, Geschichte, Praxis und Prozedur 8. Mai 2014 RL34097 Garvey, Todd Dolan, Alissa M. Vertrag mit Inverted Domestic Corporations: Antworten auf häufig gestellte Fragen 7. November 2014 R43780 Manuel, Kate M. Lunder, Erika K. Kontrollierte Stoffe Gesetz: Regulatorische Anforderungen 13. Dezember 2012 RL34635 Yeh, Brian T. Kontroversen über Redefining 8220Fill Material8221 unter dem Clean Wassergesetz 21. August 2013 RL31411 Copeland, Claudia Cooperative RampD: Bundesanstrengungen zur Förderung der industriellen Wettbewerbsfähigkeit 3. Dezember 2012 RL33526 Schacht, Wendy H. Körperschaftsteuergrundlage Erosion und Profit Shifting (BEPS): Eine Prüfung der Daten 6. Januar 2012 R44013 Keightley, Mark P. et al. Zählen von Wahlbezählungen: Ein Überblick über die Verfahren auf der Gemeinsamen Tagung, Einschließlich Einwände von Mitgliedern des Kongresses 30. November 2012 RL32717 Maskell, Jack Rybicki, Elizabeth Crime Victims8217 Rights Act: Eine Zusammenfassung und rechtliche Analyse von 18 U. S.C. 3771 24. April 2012 RL33679 Doyle, Charles Kundenwahl und die Machtindustrie der Zukunft 22. September 2014 R43742 Campbell, Richard J. Cybercrime: Eine Skizze von 18 U. S.C. 1030 und verwandte Bundesstrafrecht 15. Oktober 2014 RS20830 Doyle, Charles Dark Pools im Aktienhandel: Politische Bedenken und jüngste Entwicklungen 26. September 2014 R43739 Kürzer, Gary Miller, Rena S. Schuldenlimit: Geschichte und jüngste Zunahmen 15. Oktober 2013 RL31967 Austin, D. Andrew Levit, Mindy R. Entschlossene Entschließung: Ein Budget-Enforcement-Tool 12. Juni 2013 RL31443 Lynch, Megan S. Verteidigung Akquisitionen: Wie und Wo DOD seine Vertragspartner verbringt 24. Oktober 1989 R44010 Schwartz, Moshe et al. Verteidigungsausgaben und die Haushaltskontrollgesetzbeschränkungen 24. Oktober 1989 R44039 Belasco, Amy Definition des Supervisors im Rahmen des Nationalen Arbeitsbeziehungsgesetzes 5. Juli 2012 RL34350 Mayer, Gerald Shimabukuro, Jon O. Verzögerter Bundeszuschuss Ausschluss: Probleme und Auswirkungen September 12, 2014 R43726 Keegan, Natalie Abwertender Dollar: Wirtschaftliche Effekte und politische Antwort 23. Februar 2012 RL34582 Elwell, Craig K. Streitbeilegung in der Welthandelsorganisation (WTO): Ein Überblick 26. November 2012 RS20088 Shedd, Daniel T. et al. Verteilung des Haushaltseinkommens und der Mittelklasse 10. März 2014 RS20811 Elwell, Craig K. Verteilungseffekte der Steuern auf Unternehmensgewinne, Investitionserträge und Stände 27. Dezember 2012 RL32517 Gravelle, Jane G. Lowry, Sean Doktrin der Konstitutionellen Vermeidung: A Rechtlicher Überblick 2. September 2014 R43706 Nolan, Andrew Dürre in den Vereinigten Staaten: Ursachen und Probleme für den Kongress 22. April 2013 RL34580 Folger, Peter et al. Drug Enforcement in den Vereinigten Staaten: Geschichte, Politik und Trends 2. Oktober 2014 R43749 Sacco, Lisa N. Drogenvergehen: Maximale Geldstrafen und Haftungsbeschränkungen wegen Verletzung des Bundesgesetzes über Gesellschaftsgesetze und Verwandte Gesetze 13. Dezember 2012 RL30722 Yeh, Brian T. Verdiente Einkommensteuergutschrift (EITC): Ein Überblick 22. Oktober 2014 RL31768 Falk, Gen Earned Income Tax Credit (EITC): Änderungen für 2012 und 2013 31. Januar 2013 RS21352 Scott, Christine Erdbeben: Risiko, Erkennung, Warnung, Und Forschung 18. Juli 2013 RL33861 Folger, Peter Ebola: Grundlagen über die Krankheit 3. Oktober 2014 R43750 Lister, Sarah A. Auswirkung des Firmeninsatzes auf Rentnervorteile, mit Anwendungen für die Automobil - und Kohleindustrie 22. September 2014 R43732 Rapaport, Carol Wirksamkeit des gemeinschaftlichen Thesaurierungsgesetzes 25. Juli 2014 R43661 Getter, Darryl E. Elder Justice Act: Hintergrund und Fragen für den Kongress 3. September 2014 R43707 Colello, Kirsten J. Wahlkolleg: Wie es in zeitgenössischen Präsidentschaftswahlen funktioniert 22. Oktober 2012 RL32611 Neale, Thomas H. Notfallplanung und gemeinschaftsrechtliches Gesetz (EPCRA): Eine Zusammenfassung 5. April 2012 RL32683 Schierow, Linda-Jo Mitarbeiter Aktienoptionen: Steuerliche Behandlung und Steuerfragen 15. Juni 2012 RL31458 Bickley, James M. Gefährdeter Artengesetz (ESA) und Ansprüche auf Eigentumsrechte Takings 7. Januar 2013 RL31796 Meltz, Robert Bedrohte Artengesetz und Klangwissenschaft 23. Januar 2013 RL32992 Corn, M. Lynne et al. Berechtigungen und angewiesene Ansprüche im Bundeshaushalt 26. November 2012 RS20129 Heniff, Bill Jr. Umweltgesetze: Zusammenfassungen der Hauptstatuten, die von der Umweltschutzbehörde verwaltet werden 20. Dezember 2013 RL30798 Bearden, David M. et al. Environmental Protection Agency (EPA): Mittel für FY2014 in P. L. 113-76 August 15, 2014 R43689 Esworthy, Robert Bearden, David M. EPA8217s Vorgeschlagene Treibhausgasverordnung: Implikationen für den Elektrizitätssektor 6. Januar 2012 R43621 Campbell, Richard J. Europäische Kämpfer in Syrien und Irak: Assessments, Responses und Ausgaben für die Vereinigten Staaten 8. November 2000 R44003 Archick, Kristin et al. Auswertung der aktuellen Haltung der Geldpolitik mit einer Taylor-Regel 30. Januar 2012 RS21821 Labonte, Marc Executive Orders: Ausgabe, Änderung und Widerruf April 16, 2014 RS20846 Chu, Vivian S. Garvey, Todd Export-Import Bank Reauthorization: Häufig gestellte Fragen 26. November 2014 R43671 Akhtar, Shayerah Ilias et al. Vertretung, Zensur, Vertretung und Fein: Legislative Disziplin im Repräsentantenhaus 2. Mai 2013 RL31382 Maskell, Jack Erweiterung der Arbeitslosenunterstützung Vorteile bei Rezessionen 2. Mai 2013 RL34340 Whittaker, Julie M. Isaacs, Katelin P. Fact Sheet: Ausgewählte Highlights Von HR 1735, das nationale Verteidigungsgenehmigungsgesetz für FY2016 24. Oktober 1989 R44019 Towell, Pat Fannie Mae8217s und Freddie Mac8217s Finanzprobleme 10. August 2012 RL34661 Weiss, N. Eric Bauernhof und Nahrungsmittelunterstützung unter UDSA8217s Abschnitt 32 Programm 18. November 2014 RL34081 Shields, Dennis A. Fatherhood Initiativen: Verbinden von Vätern mit ihren Kindern 28. Januar 2014 RL31025 Solomon-Fears, Carmen FDA8217s Behörde, um sicherzustellen, dass Medikamente, die Kindern vorschreiben, sind sicher und effektiv 25. Juni 2012 RL33986 Thaul, Susan Federal Communications Commission: Current Structure Und seine Rolle in der sich verändernden Telekommunikations-Landschaft November 18, 2013 RL32589 Figliola, Patricia Moloney Bundesvernünftigkeit der staatlichen und lokalen Steuern 10. November 2014 RL32781 Maguire, Steven Stupak, Jeffrey M. Bundesangestellte8217 Ruhestandssystem: Budget - und Treuhandfondsausgaben 24. März, 2014 RL30023 Isaacs, Katelin P. Bundesangestellte8217 Ruhestands-System: Die Rolle des Thrift-Sparplans 8. März 2013 RL30387 Isaacs, Katelin P. Federal Verbrauchsteuer auf Benzin und der Autobahn-Treuhandfonds: Eine kurze Geschichte 7. September 2012 RL30304 Bickley, James M. Federal Funding Lücken: Ein kurzer Überblick Oktober 11, 2013 RS20348 Tollestrup, Jessica Federal Grand Jury 6. Januar 2012 95-1135 Doyle, Charles Federal Landbesitz: Aktuelle Akquisitions - und Entsorgungsbehörden 13. Dezember 2012 RL34273 Vincent, Carol Hardy et Al. Bundesrepublik Deutschland: RL33586 Figliola, Patricia Moloney Bundespersonal: Umwandlung von Mitarbeitern aus besetzten (Non-Career-) Positionen zu Karriere-Positionen in der Exekutiv-Niederlassung 2. November 2012 RL34706 Schwemle, Barbara L. Bundesrechtsschutzgesetz: Wie werden sie erzwungen 7. Oktober 2014 RL34384 Esworthy, Robert-Bundesprogramme für arbeitslose Arbeiter verfügbar 9. Januar 2013 RL34251 Isaacs, Katelin P. et Al. Bundespräsidenten zur Steuer Marihuana: Eine ökonomische Analyse 13. November 2014 R43785 Gravelle, Jane G. Lowry, Sean Federal Rulemaking Prozess: Ein Überblick 17. Juni 2013 RL32240 Carey, Maeve P. Bundesgesetze: Was sie sind und wo finden sie März 21, 2012 RL30812 Foley, Cassandra L. Bundesbesteuerung von Ausländern, die in den Vereinigten Staaten arbeiten 18. Mai 2012 RS21732 Lunder, Erika K. Federal Trade Commission8217s Regulierung der Datensicherheit im Rahmen ihrer unlauteren oder irreführenden Handlungen oder Praktiken (UDAP) Behörde September 11, 2014 R43723 Stevens, Gina Föderalismus, Staatliche Souveränität und die Verfassung: Grundlagen und Grenzen der Kongressmacht 23. September 2013 RL30315 Thomas, Kenneth R. FHA-Versicherte Hauskredite: Ein Überblick April 18, 2013 RS20530 Jones, Katie Filibusters und Cloture in der Senat 31. Mai 2013 RL30360 Beth, Richard S. Heitshusen, Valerie Finanzierung der US-Handelsdefizit 24. März 2014 RL33274 Jackson, James K. Erster Tag eines neuen Kongresses: Ein Leitfaden für die Vorgänge am Hausboden 5. Dezember 2014 RL30725 Schneider , Judy et al. Erster Tag eines neuen Kongresses: Ein Leitfaden für Proceedings auf dem Senatsboden 5. Dezember 2014 RS20722 Koempel, Michael L. et al. Fluorid in Trinkwasser: Eine Überprüfung der Fluoridierung und Regulation Issues 5. April 2013 RL33280 Tiemann, Mary Food Recalls und andere FDA Administrative Durchsetzung Aktionen 20. November 2014 R43794 Lanza, Emily M. Ausländische Direktinvestitionen in den Vereinigten Staaten: Eine Wirtschaftsanalyse Dezember 11, 2013 RS21857 Jackson, James K. Ausländische Investition in den Vereinigten Staaten: Major Federal Gesetzliche Beschränkungen 17. Juni 2013 RL33103 Seitzinger, Michael V. Ausländisches Eigentum an US-finanziellen Vermögenswerten: Implikationen eines Rückzugs 8. April 2013 RL34319 Jackson, James K. Wald-Feuerschutz 7. März 2012 RL30755 Gorte, Ross W. Bracmort, Kelsi Ehemalige Präsidenten: Renten, Bürgschaften und andere Bundesleistungen 9. April 2014 RL34631 Ginsberg, Wendy Franking Privileg: Massensendungen und Massenkommunikation im Haus, 1997 -2012 11. Juni 2013 RL34458 Glassman, Matthew Eric Freie Übung der Religion durch eng verbundene Unternehmen: Implikationen von Burwell V. Hobby Lobby Stores, Inc. 23. Juli 2014 R43654 Brougher, Cynthia Freiheit der Navigation und Territorialmeere 8. November 2000 Finanzierung Für die älteren Amerikaner-Gesetz und andere Altern-Service-Programme 22. Februar 2013 RL33880 Napili, Angela Colello, Kirsten J. Zukunft der Internet-Governance: Sollten die USA ihre Autorität über ICANN 6. Januar 2012 R44022 Kruger, Lennard G. FY2016 Military Construction-Mittel : Präsident8217s Antrag und Haus Markup verglichen am 24. Oktober 1989 IN10262 Else, Daniel H. Generalisiertes Präferenzsystem: Hintergrund und Erneuerung Debatte 19. Mai 2014 RL33663 Jones, Vivian C. Globalisierung, Arbeitnehmer Unsicherheit und politische Ansätze 27. Februar 2012 RL34091 Ahearn , Raymond J. Regierung Sammlung von privaten Informationen: Hintergrund und Fragen im Zusammenhang mit den USA PATRIOT Act Reautorisierung in Kürze 15. April 2002 R44042 Liu, Edward C. et al. Wechselnde Gebühren: Überblick und Ausgaben 19. Juni 2012 RS21232 Vincent, Carol Hardy Gun Control Gesetzgebung 14. November 2012 RL32842 Krouse, William J. Health Care Flexible Ausgaben Konten 13. Juni 2012 RL32656 Mulvey, Janemarie Hilfe Amerika Vote Act und Wahlverwaltung: Überblick Und Issues 5. Dezember 2014 RS20898 Coleman, Kevin J. Fischer, Eric A. Hanf als landwirtschaftliche Rohstoffe 24. Juli 2013 RL32725 Johnson, Renee Heritage Bereiche: Hintergrund, Vorschläge und aktuelle Themen 4. Juni 2013 RL33462 Vincent, Carol Hardy Comay , Laura B. Hochpathogene Aviäre Influenza: Laufende Explosion 6. Januar 2012 IN10279 Greene, Joel L. Obdachlosigkeit: Gezielte Bundesprogramme und neuere Gesetzgebung 3. Februar 2014 RL30442 Perl, Libby et al. House Committee Stairs: Überlegungen, Entscheidungen und Aktionen als ein Kongress endet und ein neuer Kongress beginnt am 25. Oktober 2012 RL34679 Schneider, Judy Koempel, Michael L. House Offset Änderungen der Mittel Rechnungen: Procedural Considerations 29. September 2014 RL31055 Tollestrup, Jessica House Ständige Ausschussstühle und Ranking Minderheitenmitglieder: Regeln für die Auswahl von Verfahren 7. Oktober 2014 RS21165 Schneider, Judy Housing für Personen mit HIVAIDS leben 7. Januar 2013 RL34318 Perl, Libby Wie wurden kleine Banken von einer Finanzreform betroffen sein 14. Mai 2015 IN10276 Hoskins, Sean M. et al. Wie Maße zum Haus geholt werden Boden: Eine kurze Einleitung 2. November 2012 RS20067 Davis, Christopher M. Wie Maße zum Senat geholt werden: Eine kurze Einleitung 25. November 2013 RS20668 Davis, Christopher M. In Kürze: Optionen zu helfen Treffen Sie eine Kongressanforderung für die Kernwaffengrubenproduktion 18. Oktober 2006 R44047 Medalia, Jonathan E. In Re Terroristenangriffen am 11. September 2001: Forderungen gegen saudische Angeklagte im Rahmen des Auswärtigen Immunitätsgesetzes (FSIA) 27. Dezember 2013 RL34726 Elsea, Jennifer K. Erhöhung der Sozialversicherungsabrechnung Steuerbemessungsgrundlage: Optionen und Auswirkungen auf Steuerbelastungen Februar 5, 2013 RL33943 Hungerford, Thomas L. Individuelle Einkommensteuersätze und andere Schlüsselelemente der einzelnen Einkommensteuer: 1988 bis 2013 1. Februar 2013 RL34498 Guenther, Gary Industrial Competitiveness and Technological Advancement: Debatte über Regierungspolitik 3. Dezember 2012 RL33528 Schacht, Wendy H. Rechte an geistigem Eigentum Verletzungen: Bundesamt für Zivilrecht und Strafrechtsstrafen im Zusammenhang mit Urheberrechten, Marken und Patenten 13. Dezember 2012 RL34109 Yeh, Brian T. Internationaler Flugdienst Kontroversen: Häufig gestellte Fragen 6. Januar 2012 R44016 Tang, Rachel Y. Internationale Familienplanungsprogramme: Fragen für den Kongress 26. Juni 2012 RL33250 Blanchfield, Luisa Internationale Nahrungsmittelhilfe: US - und andere Geberbeiträge November 12, 2013 RS21279 Hanrahan, Charles E. Kanada, Carol International Illegaler Handel mit Wildtieren: Bedrohungen und US-Politik 23. Juli 2013 RL34395 Wyler, Liana Sun Sheikh, Pervaze A. Internationale Investitionsabkommen (IIAS): Häufig gestellte Fragen 6. Januar 2012 R44015 Weiss, Martin A, Et al. Internationales Gesetz und Vereinbarungen: Ihr Einfluss auf US-Gesetz 23. Januar 2014 RL32528 Garcia, Michael John Internationale Kinderkinderabführungen 27. Januar 2014 RS21261 Smith, Alison M. Einführung in die Krankenversicherung: Was sollte ein Konsument wissen 30. April 2015 R44014 Rapaport, Carol Iran8217s Außenpolitik 22. Mai 2002 R44017 Katzman, Kenneth Juvenile Opfer des häuslichen Sexhandels: Jugendliche Gerechtigkeitsprobleme 5. August 2014 R43677 Finklea, Kristin Keystone Xl Pipeline: Überblick und jüngste Entwicklungen 13. November 2014 R43787 Parfomak, Paul W. et al . Lame Duck Sessions Of Congress, 1935-2012 (74.-112. Kongresse) 19. September 2014 RL33677 Beth, Richard S. Tollestrup, Jessica Gesetzgebungsverfahren im Kongress: Grundquellen für Kongress-Mitarbeiter 6. Oktober 2014 RS21363 Manning, Jennifer E. Greene, Michael Legislative Verfahren für die Anpassung der öffentlichen Schuldenlimit: Ein kurzer Überblick 26. November 2012 RS21519 Heniff, Bill Jr. Obligatorische Mindestverurteilung Gesetzgebung in der 114. Kongress 6. Januar 2012 R44006 Doyle, Charles Obligatorische Ausgaben seit 1962 10. März 2014 RL33074 Levit, Mindy R. Austin, D. Andrew Obligatorische Impfungen: Vorläufige und gegenwärtige Gesetze 21. Mai 2014 RS21414 Cole, Jared P. Swendiman, Kathleen S. Karten von 2015 Individuelle Börsenanmeldung per Postleitzahl 6. Januar 2012 IN10282 Uberoi, Namrata K. et Al. Medaille der Ehre Empfänger: 1979-2014 29. Oktober 2014 RL30011 Leland, Anne Medicaid: Ein Primer 18. Juli 2012 RL33202 Herz, Elicia J. Medicare: Insolvenzprojektionen 3. Juli 2013 RS20946 Davis, Patricia A. Mitglieder des Kongresses Wer stirbt in Büro: Historische und gegenwärtige Praktiken 25. April 2012 RL34347 Petersen, R. Eric Manning, Jennifer E. Military Funeral Ehrungen und Militärfriedhöfe: Häufig gestellte Fragen 13. Januar 2014 RS21545 Torreon, Barbara Salazar Military Medical Care: Fragen und Antworten Januar 2, 2014 RL33537 Jansen, Don J. Militärischer Ruhestand: Hintergrund und jüngste Entwicklungen 28. Mai 2014 RL34751 Burrelli, David F. Torreon, Barbara Salazar Verschiedene Tarifrechnungen: Überblick und Themen für den Kongress 16. Juli 2012 RL33867 Jones, Vivian C. Fehlende Erwachsene: Hintergrund, Bundesprogramme und Themen für den Kongress 7. Mai 2013 RL34616 Fernandes-Alcantara, Adrienne L. Fehlende und ausgebeutete Kinder: Hintergrund, Politik und Probleme 1. August 2014 RL34050 Fernandes-Alcantara, Adrienne L. Geldpolitik und die Federal Reserve : Aktuelle Politik und Bedingungen 1. Juli 2014 RL30354 Labonte, Marc Geld für etwas: Musiklizenz im 21. Jahrhundert 6. Januar 2012 R43984 Scherer, Dana A. Geldwäsche: Ein Überblick über 18 USC 1956 und verwandtes Strafrecht 8. Februar 2012 RL33315 Doyle, Charles Bergspitze Bergbau: Hintergrund zu aktuellen Kontroversen Juli 16, 2014 RS21421 Copeland, Claudia Multilaterale Entwicklungsbanken: US-Beiträge FY2000-FY2013 1. Februar 2013 RS20792 Nelson, Rebecca M. Nanotechnologie: A Policy Primer 16. Dezember 2013 RL34511 Sargent, John F. Jr. Nationale Ambient Air Quality Standards (NAAQS) für Partikelmaterie (PM): Epa8217s 2006 Revisionen und assoziierte Themen 14. März 2013 RL34762 Esworthy, Robert Nationalpark System: Neue Einheiten aufbauen April 25, 2013 RS20158 Vincent, Carol Hardy Erdgas für Autos und LKWs: Optionen und Herausforderungen 19. November 2014 R43791 Canis, Bill et al. Neue US-Japan-Verteidigungsleitlinien vertiefen die Allianz-Kooperation November 8, 2000 IN10265 Rinehart, Ian E. Noncitizen Eignung für die öffentliche Unterstützung: Politische Übersicht und Trends 24. September 2014 RL33809 Wasem, Ruth Ellen Nichtmaritale Geburten: Ein Überblick 30. Juli 2014 R43667 Solomon - Fold, Carmen Kernenergie-Politik 15. Oktober 2014 RL33558 Holt, Mark Nukleare Waffen-Pit-Produktion: Optionen, um zu helfen, eine Kongress-Anforderung zu treffen 18. Oktober 2006 R44033 Medalia, Jonathan E. Obama-Bibliothek Wahrscheinlich Headed to Chicago8217s South Side 1. Mai 2015 IN10270 Richardson, Daniel J. Obstruktion der Gerechtigkeit: Ein Überblick über einige der Bundesstatuten, die die Einmischung von Gerichts-, Exekutiv - oder Gesetzgebungsaktivitäten verbieten 17. April 2014 RL34303 Doyle, Charles Offender Reentry: Korrekturstatistik, Wiedereingliederung in die Gemeinschaft und Rückkehr Juni 12, 2014 RL34287 James, Nathan Amt des Parlaments im Haus und Senat 12. November 2014 RS20544 Heitshusen, Valerie Büros der Inspektoren General - und Strafverfolgungsbehörde: In Kürze 8. September 2014 R43722 Ginsberg, Wendy Offshore-Öl - und Gasentwicklung: Legal Framework 26. September 2014 RL33404 Vann, Adam Offshoring (oder Offshore Outsourcing) und Job Loss unter US-Arbeitnehmer 17. Dezember 2012 RL32292 Levine, Linda Ölpest in US Coastal Waters: Hintergrund und Governance 11. Januar 2012 RL33705 Ramseur, Jonathan L. One - Minute Reden: Aktuelle Hauspraktiken 23. Januar 2013 RL30135 Schneider, Judy Organisation für wirtschaftliche Zusammenarbeit und Entwicklung 30. Oktober 2013 RS21128 Jackson, James K. Outsourcing und Insourcing Jobs in den USA Wirtschaft: Nachweis auf ausländischen Investmentdaten 21. Juni 2013 RL32461 Jackson, James K. Überblick über die Genehmigungsverfahren 25. November 2012 RS20371 Heniff, Bill Jr. Überblick über das Bundessteuersystem 21. November 2014 RL32808 Sherlock, Molly F. Marples, Donald J. Pakistan-US Beziehungen: Ausgaben für den 114. Kongress 8. November 2000 R44034 Kronstadt, K. Alan Paris Club und International Debt Relief 11. Dezember 2013 RS21482 Weiss, Martin A. Parteiführer im Haus: Wahl, Pflichten und Pflichten 14. August 2014 RS20881 Heitshusen, Valerie Parteiführer im Kongress der Vereinigten Staaten, 1789-2014 31. Juli 2014 RL30567 Heitshusen, Valerie Pay-Equity: Legislative und rechtliche Entwicklungen 22. November 2013 RL31867 Collins, Benjamin Feder, Jody Peace Corps: Aktuelle Themen 2. Dezember 2014 RS21168 Tarnoff, Curt Pestizid Verwendung und Wasserqualität: Sind die Gesetze ergänzend oder in Konflikt 13. Juli 2012 RL32884 Copeland, Claudia PILT (Zahlungen in Lieu von Steuern): Etwas vereinfacht 10. Dezember 2014 RL31392 Mais, M. Lynne Verschiebung und Umschuldung von Wahlen Zum Bundesamt 5. September 2014 RL32623 Maskell, Jack Potenzielle Auswirkungen des Zweiten Circuit8217s Urteil gegen Bulk Collection auf USA PATRIOT Act Reauthorization 8220April 15, 2002 Armut in den USA: 2013 25. September 2014 RL33069 Gabe, Thomas Armut: Major Themes in Vergangene Debatten und aktuelle Vorschläge 18. September 2014 R43731 Falk, Gene Spar, Karen Macht, um den Handel zu regulieren: Grenzen der Kongressmacht 16. Mai 2014 RL32844 Thomas, Kenneth R. Präsident der Vereinigten Staaten: Entschädigung 17. Oktober 2012 RS20115 Schwemle, Barbara L. Präsidentenbeauftragte Positionen, die Senatsbestätigung und - ausschüsse beantragen, die Nominierungen behandeln 25. November 2013 RL30959 Davis, Christopher M. Mansfield, Jerry W. Präsidenten-Nominierungsprozess: Aktuelle Ausgaben 27. Januar 2012 RL34222 Coleman, Kevin J. Präsidentschaftsreise: Politik und Kosten Mai 17, 2012 RS21835 Halchin, L. Elaine President8217s Budget-Anfrage: Überblick und Zeitplan der Mid-Session Review 16. Juli 2013 RL32509 Christensen, Michelle D. Präsident8217s Büro für Wissenschaft und Technologie Politik: Fragen für den Kongress 13. Januar 2014 RL34736 Sargent, John F. Jr. Shea, Dana A. Primer auf Behindertenvorteile: Sozialversicherung Invaliditätsversicherung (SSDI) und ergänzende Sicherheit Einkommen (SSI) 1. August 2014 RL32279 Morton, William R. Primer über die Überprüfung der Agentur Verzögerung und Vollstreckung Diskretion September 4, 2014 R43710 Shedd, Daniel T. Garvey, Todd Privatsphäre und bürgerliche Freiheiten Aufsichtsbehörde: Neue Unabhängige Agentur Status 27. August 2012 RL34385 Hatch, Garrett Datenschutz für Kunden Finanzinformationen 14. Juli 2014 RS20185 Murphy, M. Maureen Produktion Steuergutschrift Anreize für erneuerbare Elektrizität: Finanzieller Vergleich ausgewählter politischer Optionen 6. Januar 2012 R43340 Brown, Phillip Fragen der Privilegien des Hauses: Eine Analyse 6. Januar 2012 R44005 Lynch, Megan S. Racial Profiling: Rechtliche und Verfassungsfragen 16. April 2012 RL31130 Feder, Jody Erhalt von Geschenken von Bundesangestellten in der Exekutivbranche 5. Dezember 2014 R43660 Maskell, Jack Jüngste Änderungen in den Vermögens - und Vermögenssteuerbestimmungen 15. Februar 2013 R42959 Gravelle, Jane G. Recess Termine: Häufig gestellte Fragen 7. Juni, 2013 RS2308 Hogue, Henry B. Reduzierung des Haushaltsdefizits: Überblick über politische Fragen 7. August 2014 R43680 Labonte, Marc Reform der US International Taxation: Alternativen 27. Dezember 2012 RL34115 Gravelle, Jane G. Flüchtlingsassistenz und Umsiedlungspolitik 6. März 2014 RL31269 Bruno, Andorra Regulatory Relief for Banking: Ausgewählte Gesetzgebung im 114. Kongress 6. Januar 2012 R44035 Hoskins, Sean M. et al. Erforschung aktueller Bundesgesetze und Verordnungen: Ein Leitfaden für Ressourcen für Kongressabgeordnete 19. Februar 2014 RL33895 Mansfield, Jerry W. Ruhestand Vorteile für Mitglieder des Kongresses 13. Juni 2014 RL30631 Isaacs, Katelin P. Rolle der Heimat Senatoren in der Auswahl von Lower Bundesgericht Richter 11. Februar 2013 RL34405 Rutkus, Denis Steven Rollen und Pflichten eines Mitglieds des Kongresses 9. November 2012 RL33686 Petersen, R. Eric Regeln und Praktiken unter Berücksichtigung der Einnahmen Gesetzgebung im Haus und Senat 6. Januar 2012 R41408 Lynch, Megan S. Safe Trinkwassergesetz (SDWA): Eine Zusammenfassung des Gesetzes und seiner Hauptanforderungen 5. Februar 2014 RL31243 Tiemann, Mary Same-Sex Ehen: Rechtliche Fragen 6. Mai 2013 RL31994 Smith, Alison M. § 179 und Bonusabschreibung Aufwarten von Allowances: Aktuelles Gesetz, Legislativvorschläge im 112. Kongress und Wirtschaftseffekte 10. September 2012 RL31852 Guenther, Gary Ausgewählte Themen in der Heimatschutzpolitik für den 114. Kongress 7. Februar 1989 R44041 Maler, William L. Ausgewählte kürzlich abgelaufene Einzelsteuerbestimmungen (8220Extenders8221): In Kürze 17. Oktober 2014 R43688 Gravelle, Jane G. Senat Banking: Financial Regulatory Improvement Act 6. Januar 2012 IN10278 Hoskins, Sean M. et al. Senatsausschuss für Ethik: Eine kurze Geschichte seiner Evolution und Jurisdiktion 7. März 2013 RL30650 Straus, Jacob R. Servicemembers Zivilschutzgesetz (SCRA): Eine Erklärung 27. August 2014 RL34575 Mason, R. Chuck Sex Trafficking: Vorschläge in der 114. Kongress zur Änderung des Bundesstrafrechts 6. Januar 2012 R44007 Doyle, Charles Sexuelle Gewalt an Hochschulen am 23. Oktober 2014 R43764 McCallion, Gail Feder, Jody Abbruch der Bundesregierung: Ursachen, Prozesse und Effekte 8. September 2014 RL34680 Messing, Clinton T. Small Business Administration: Ein Primer auf Programmen 2. Mai 2013 RL33243 Dilger, Robert Jay Lowry, Sean Kleine Raffinerien und Ölfeld-Prozessoren: Chancen und Herausforderungen 11. August 2014 R43682 Andrews, Anthony et al. Sozialversicherungs-Invaliditätsversicherung (DI) Trust Fund: Hintergrund - und Solvabilitätsprobleme 6. Januar 2012 R43318 Morton, William R. Sozialversicherungsreform: Aktuelle Themen und Gesetzgebung 28. November 2012 RL33544 Nuschler, Dawn Sozialversicherungsreform: Rechtsanalyse des Sozialversicherungsgeldes Berechtigungsprobleme 17. September 2014 RL32822 Lanza, Emily M. Nicola, Thomas J. Soziale Sicherheit: Berechnung und Geschichte der Besteuerung von Leistungen 4. August 2014 RL32552 Meyerson, Noah P. Soziale Sicherheit: Große Entscheidungen im Haus und Senat seit 1935 15. Januar , 2014 RL30920 Sidor, Gary Soziale Sicherheit: Die Regierung Pension Offset (GPO) 23. April 2014 RL32453 Sidor, Gary Soziale Sicherheit: Der Treuhandfonds 31. Juli 2014 RL33028 Nuschler, Dawn Sidor, Gary Soziale Sicherheit: Treuhandfonds Investitionspraktiken 20. August , 2014 RS20607 Nuschler, Dawn Soziale Sicherheit: Was würde passieren, wenn die Trust Funds ausgegangen sind August 28, 2014 RL33514 Meyerson, Noah P. Sprecher des Hauses: Wahlen, 1913-2013 4. Januar 2013 RL30857 Beth, Richard S. Heitshusen, Valerie Special Order Speeches and Other Forms of Non-Legislative Debate in the House November 26, 2012 RS21174 Schneider, Judy Specialty Metal Clause: Oversight Issues and Options for Congress February 6, 2014 RL33751 Grasso, Valerie Bailey Staff Pay Levels for Selected Positions in House Member Offices, 2009-2013 November 3, 2014 R43775 Petersen, R. Eric et al. Staff Pay Levels for Selected Positions in Senators8217 Offices, FY2009-FY2013 November 3, 2014 R43774 Petersen, R. Eric et al. State and Local Economic Sanctions: Constitutional Issues February 20, 2013 RL33948 Garcia, Michael John Garvey, Todd State Minimum Wages: An Overview November 18, 2014 R43792 Bradley, David H. Status of a Member of the House Who Has Been Indicted for or Convicted of a Felony May 8, 2014 RL33229 Maskell, John Statutes of Limitation in Federal Criminal Cases: An Overview October 1, 2012 RL31253 Doyle, Charles Submission of the President8217s Budget in Transition Years May 17, 2012 RS20752 Christensen, Michelle D. Summary Report: FY2014 Supplemental Appropriations August 28, 2014 R43666 Painter, William L. Sunset of Section 215 of the USA PATRIOT Act of 2001 April 15, 2002 Supplemental Security Income (SSI): IncomeResource Limits and Accounts Exempt from Benefit Determinations January 25, 2013 RS20294 Moulta-Ali, Umar Support Offices in the House of Representatives: Roles and Authorities February 5, 2013 RL33220 Brudnick, Ida A. Survivor Benefits for Families of Civilian Federal Employees and Retirees December 18, 2012 RS21029 Isaacs, Katelin P. Take Care Clause and Executive Discretion in the Enforcement of Law September 4, 2014 R43708 Garvey, Todd Tax Expenditures: Overview and Analysis January 6, 2012 R44012 Marples, Donald J. Tax-Advantaged Accounts for Health Care Expenses: Side-by-Side Comparison, 2013 November 8, 2013 RS21573 Rapaport, Carol Taxation of Internet Sales and Access: Legal Issues December 1, 2014 R43800 Lunder, Erika K. Taxation of Unemployment Benefits February 7, 2013 RS21356 Whittaker, Julie M. Technology Transfer: Use of Federally Funded Research and Development December 3, 2012 RL33527 Schacht, Wendy H. Teenage Pregnancy Prevention: Statistics and Programs May 16, 2014 RS20301 Solomon-Fears, Carmen Telemarketing Regulation: National and State Do Not Call Registries August 14, 2014 R43684 Ruane, Kathleen Ann Temporary Assistance for Needy Families (TANF) Block Grant: A Primer on TANF Financing and Federal Requirements April 2, 2013 RL32748 Falk, Gene Temporary Assistance for Needy Families (TANF) Block Grant: Responses to Frequently Asked Questions September 19, 2014 RL32760 Falk, Gene Temporary Professional, Managerial, and Skilled Foreign Workers: Legislation in the 113th Congress September 30, 2014 R43745 Wasem, Ruth Ellen Tesla8217s Home Battery 8211 An Electricity Storage Breakthrough January 6, 2012 IN10271 Campbell, Richard J. et al. Text and Multimedia Messaging: Issues for Congress January 12, 2012 RL34632 Figliola, Patricia Moloney Stevens, Gina The National Nanotechnology Initiative: Overview, Reauthorization, and Appropriations Issues December 17, 2013 RL34401 Sargent, John F. Jr. Title IX, Sex Discrimination, and Intercollegiate Athletics: A Legal Overview December 7, 2012 RL31709 Feder, Jody Title X (Public Health Service Act) Family Planning Program September 3, 2014 RL33644 Napili, Angela Toxic Substances Control Act (TSCA): A Summary of the Act and Its Major Requirements April 1, 2013 RL31905 Schierow, Linda-Jo Tracking Federal Funds: USAspending. gov and Other Data Sources January 6, 2012 R44027 Gerli, Merete F. Trade Adjustment Assistance for Firms: Economic, Program, and Policy Issues August 4, 2014 RS20210 Harrison, Glennon J. Trade Adjustment Assistance for Workers: Reauthorization Proposals in the 114th Congress, in Brief January 6, 2012 R44009 Collins, Benjamin Trade Agreements: Impact on the U. S. Economy April 10, 2013 RL31932 Jackson, James K. Trade Promotion Authority (TPA) and the Role of Congress in Trade Policy January 13, 2014 RL33743 Cooper, William H. Traditional and Roth Individual Retirement Accounts (IRAs): A Primer January 30, 2013 RL34397 Topoleski, John J. Turkey: Background and U. S. Relations in Brief May 22, 2002 R44000 Zanotti, Jim U. S. Direct Investment Abroad: Trends and Current Issues December 11, 2013 RS21118 Jackson, James K. U. S. Greenhouse Gas Emissions: Recent Trends and Factors November 24, 2014 R43795 Ramseur, Jonathan L. U. S. International Trade: Trends and Forecasts October 19, 2012 RL33577 Williams, Brock R. Donnelly, J. Michael U. S. National Science Foundation: Experimental Program to Stimulate Competitive Research (EPSCoR) January 19, 2012 RL30930 Matthews, Christine M. U. S. National Science Foundation: Major Research Equipment and Facility Construction April 4, 2012 RS21267 Matthews, Christine M. U. S. Patent and Trademark Office Appropriations Process: A Brief Explanation August 28, 2014 RS20906 McLoughlin, Glenn J. U. S. Trade Concepts, Performance, and Policy: Frequently Asked Questions November 17, 2014 RL33944 Morrison, Wayne M. et al. U. S. Trade Remedy Laws and Nonmarket Economies: A Legal Overview January 31, 2013 RL33976 Smith, Jane M. U. S. Trade Situation for Fruit and Vegetable Products January 15, 2014 RL34468 Johnson, Renee Unauthorized Alien Students: Issues and Dream Act Legislation June 19, 2012 RL33863 Bruno, Andorra Unauthorized Aliens Residing in the United States: Estimates since 1986 December 13, 2012 RL33874 Wasem, Ruth Ellen Uncertainty in Financial Projections of Social Security January 6, 2012 IN10275 Meyerson, Noah P. Unemployment Insurance: Programs and Benefits February 12, 2014 RL33362 Whittaker, Julie M. Isaacs, Katelin P. Uniformed and Overseas Citizens Absentee Voting Act: Overview and Issues April 21, 2014 RS20764 Coleman, Kevin J. United Kingdom Election November 8, 2000 IN10266 Mix, Derek E. United States as a Net Debtor Nation: Overview of the International Investment Position December 17, 2013 RL32964 Jackson, James K. Using Business Tax Cuts to Stimulate the Economy January 18, 2013 RL31134 Gravelle, Jane G. Veterans and Homelessness November 13, 2014 RL34024 Perl, Libby Veterans8217 Benefits: The Department of Veterans Affairs and the Duty to Assist Claimants September 26, 2014 R43740 Shedd, Daniel T. Veterans Exposed to Agent Orange: Legislative History, Litigation, and Current Issues November 18, 2014 R43790 Panangala, Sidath Viranga Shedd, Daniel T. Vulnerable Youth: Background and Policies January 13, 2014 RL33975 Fernandes-Alcantara, Adrienne L. Vulnerable Youth: Federal Mentoring Programs and Issues January 20, 2012 RL34306 Fernandes-Alcantara, Adrienne L. What Are the Department of Defense (DOD) Policies on Transgender Service October 24, 1989 IN10264 Kamarck, Kristy N. Wildfire Damages to Homes And Resources: Understanding Causes and Reducing Losses March 12, 2012 RL34517 Bracmort, Kelsi Wildfire Protection in the Wildland-Urban Interface January 30, 2014 RS21880 Bracmort, Kelsi Women in the United States Congress, 1917-2014: Biographical and Committee Assignment Information, and Listings by State and Congress October 31, 2014 RL30261 Manning, Jennifer E. Brudnick, Ida A. Work Opportunity Tax Credit (WOTC) February 4, 2013 RL30089 Scott, Christine WTO Dispute Settlement: Status of U. S. Compliance in Pending Cases April 23, 2012 RL32014 Grimmett, Jeanne J. Zivotofsky v. Kerry: The Jerusalem Passport Case October 30, 2014 R43773 Elsea, Jennifer K. Excerpt The practice of granting a companys employees, officers, and directors options to purchase the companys stock has become widespread among American businesses. According to Information Technology Associates, 15 to 20 of public companies offer stock options to employees as a part of their compensation package, and over 10 million employees receive them. During the technology company boom of the 1990s, they were especially important to start-up companies, allowing them to avoid paying large cash salaries to attract talent. Employee stock options have been extolled as innovative compensation plans benefitting companies, stockholders, and employees. They have been condemned as schemes to enrich insiders at the expense of ordinary stockholders and as tax avoidance devices. This report explains the tax treatment of various types of employee stock options recognized by the Internal Revenue Code, examines some of the issues that have arisen because of the real and perceived tax benefits accorded employee stock options, and describes key laws and regulations concerning stock options, and discusses the book-tax gap as it relates to stock options and S. 1375 ( Ending Excessive Corporate Deductions for Stock Options Act ). Suggested Citation Bickley, J. M. (2012). Employee stock options: Tax treatment and tax issues . Washington, DC: Congressional Research Service. STOCK OPTIONS AND OVERTIME PAY CALCULATIONS UNDER THE FAIR LABOR STANDARDS ACT CRS Report for Congress Stock Options and Overtime Pay Calculation Under the Fair Labor Standards Act Updated May 30, 2000 William G. Whittaker Specialist in Labor Economics Domestic Social Policy Division Congressional Research Service 732 The Library of Congress Stock Options and Overtime Pay Calculation Under the Fair Labor Standards Act Summary For covered employees, overtime pay for hours worked in excess of 40 in a single week is calculated, under the Fair Labor Standards Act (FLSA), upon the basis of 1189 times a worker8217s regular rate of pay. Where the worker receives a straight cash wage, the calculation is relatively simple. But, compensation may also include non-cash benefits such as gifts, bona fide profit sharing, etc. and Section 7(e) of the Act explains how such elements are to be treated for regular rate calculation. How stock options and related items of value are to be treated may be less clear. On February 12, 1999, in response to a specific inquiry, the Wage and Hour Division of the Department of Labor dispatched an opinion letter explaining that, under the circumstances set forth in the inquiry, the value of stock options would not be exempt from inclusion in the FLSA regular rate calculation. The letter was precise and limited to a single case, but it provoked concerns in the employer community. Would the denial of exemption apply more broadly and, if so, might employers be subject to suit for back wages earned through overtime work The issue was taken up by the Labor Policy Association (LPA), an industry - oriented interest group based in Washington, D. C. There followed a series of conferences and exchanges of letters and, ultimately, a hearing before the House Subcommittee on Workforce Protections (March 2, 2000). After negotiations between the interested parties, legislation was introduced both in the House and Senate on March 29: H. R. 4109 (Ballenger), and S. 2323 (McConnell). On April 5, Representative Cunningham introduced H. R. 4182. On April 12, having by-passed the hearings process in the Senate, S. 2323 won Senate approval, 95 to 0 with 5 not voting. On May 3, the measure was called up in the House and passed by a vote of 421 to 0 with 13 not voting. The measure was signed by President Clinton (P. L. 106-202) on May 18, 2000. The immediate issue under the pending legislation is relatively narrow: the treatment of stock options for regular rate calculations. If the treatment of stock options (and related instruments) for regular rate purposes is not clarified, industry spokesmen have indicated, the granting of such options to hourly-paid workers is likely to cease 8212 or, at least, to be severely diminished. The exemption created under the pending legislation would remove one impediment to the continuation of such arrangements. Contents An Issue Emerges. 1 Industry Reaction. 2 A Hearing in the House. 4 Crafting a Legislative Solution. 4 Substance of the 8220Stock Option8221 Amendments. 6 The 8220Stock Option8221 Provisions. 6 Retroactive Immunity from Liability. 7 Other. 8 Comment. 8 Stock Options and Overtime Pay Calculation Under the Fair Labor Standards Act The Fair Labor Standards Act of 1938 (FLSA), as amended, is the basic federal statute dealing with minimum wages, overtime pay, and related issues. It requires that covered workers, employed for more than 40 hours in a single week, be paid at a rate of 1189 times their regular rate of pay. Since not all compensation is in cash, exceptions are made in the statute under Section 7(e) for various types of non-cash benefits (i. e. gifts, bona fide profit sharing plans, bona fide thrift or savings plans, etc.) that need not be included in the regular rate calculation. How stock options and related non-cash compensation are to be treated for regular rate purposes may not be entirely clear. In early 1999, the Department of Labor (DOL) issued an opinion letter suggesting that stock options might, under certain circumstances, be included as part of the regular rate calculation. 1 By implication, the opinion letter also raised the specter of potential retroactive liability for employers who had made stock options available to their employees. The result was a measure of concern among employers and a call for clarification. On March 2, 2000, the House Subcommittee on Workforce Protections conducted a hearing on the general issue of stock options and overtime pay calculation. Subsequently, on March 29, Senator Mitch McConnell (R-KY) introduced legislation to amend the FLSA to provide a clearer definition of regular rate where stock options are concerned (S. 2323). Parallel legislation (H. R. 4109) was introduced in the House by Representative Cass Ballenger (R-NC). 2 On April 12, without a hearing on the proposed legislation, S. 2323 was passed by the Senate: 95 yeas with 5 not voting. On May 3, the bill was called up in the House and approved by a vote of 421 to 0 with 13 not voting. It was signed by President Clinton on May 18, 2000 (P. L. 106-202). An Issue Emerges Early in 1999, inquiry was made to the Wage and Hour Division of the Department of Labor with respect to a particular case in which stock options were to be offered to employees. Could they, legitimately, be omitted from the calculation of 1 As a supplement to regulations developed through the rulemaking process, DOL periodically issues 8220opinion letters8221 designed to help fit statutory requirements to specific workplace situations. Thus, one has, in sequence: the statute, the implementing regulation, and 8220opinion letters.8221 The latter normally deal with individual cases. 2 See also H. R. 4182 (Cunningham), introduced on April 5, 2000. a worker8217s regular rate of pay In an opinion letter of February 12, 1999, DOL reviewed the particular circumstances set forth in the inquiry and stated: 8220No, the proposed stock option plan does not qualify for any of the exclusions from the regular 3 rate as defined in Section 7(e)(1) of the FLSA.8221 The advisory letter then responded to questions concerning stock option plans and the regular rate: i. e. questions dealing with calculation of value, terms of the option, when it must be exercised, etc. And, the letter closed by noting that 8220this opinion is based exclusively on the facts and circumstances8221 set forth in the inquiry. 8220Existence of any other factual or historical background not contained in your request might require a different conclusion than the one expressed herein.8221 4 Industry Reaction When the opinion letter of February 12 came to the attention of the Labor Policy Association (LPA), an industry-oriented interest group based in Washington, D. C. it provoked various concerns. Following consultation with member firms, LPA president Jeffrey McGuiness wrote to Secretary of Labor Alexis Herman asserting that 8220this new DOL policy will make it very difficult for companies to offer stock options to non-exempt employees8221 8212 that is, those employees not exempt from the overtime pay provisions of the FLSA. McGuiness stated the problem as follows: Under the ruling, employers must undertake an excessively complicated series of calculations to pay overtime on the profit earned by the hourly employees. For example, if a company were to give options to 10,000 non-exempt employees, all of whom worked some overtime, the company would have to do the following: 8226determine the exercise date for each share of stock exercised by each employee 8226determine the profit each employee made on the stock as of the exercise date 8226determine the overtime hours worked by each employee during the weeks the employee held the options 8226calculate the additional overtime owed to each employee and 8226cut a check for the additional overtime. Because employees can exercise options at any time during the life of the program, many of which allow employees to hold options for up to ten years, the overtime 5 calculations will become excessively cumbersome. Some days later, Representative William C. Goodling (R-Pa.), Chairman of the Committee on Education and the Workforce, wrote to Secretary Herman to protest that 8220confusing and overly-complicated wage and hour regulations already discourage many employers from fully motivating and rewarding their employees for 3 Section 7(e) of the FLSA defines 8220regular rate8221 for overtime pay calculation purposes and discusses the types of non-cash income that the regular rate shall not be deemed to include. 4 Opinion Letter from Daniel F. Sweeney, Office of Enforcement Policy, Wage and Hour Division, U. S. Department of Labor. February 12, 1999. 5 Jeffrey C. McGuiness to Alexis Herman, January 11, 2000. hard work. The Department8217s interpretation on stock option plans,8221 he added, 8220further compounds the problem.8221 6 Other exchanges followed. While it was argued that stock options for hourly - paid workers constituted a win-win situation, it was also noted that following that policy could subject employers to 8220unanticipated overtime expenses.8221 7 Unless the ambiguities raised by the opinion letter were clarified, it was suggested, employers would likely cease offering their hourly-paid employees stock options. DOL responded that it had 8220not ruled that stock option plans must always be reflected in overtime payments. Nor,8221 affirmed Wage and Hour Administrator T. Michael Kerr, 8220have we ruled that stock option plans cannot be structured to meet the requirements 8 of Section 7(e) of the Act. 8221 At that point, DOL sought to develop 8220a better understanding of how the law does or should apply to the broad variety of stock option plans8221 and undertook 8220extensive discussions with a broad range of groups. to identify the factors relevant to whether a stock option plan should or should not be included in the regular rate.8221 9 Meanwhile, interest groups similarly began to organize. The Employment Policy Foundation, educational arm of the LPA, suggested that the DOL position on stock 10 options could penalize millions of workers. The Coalition To Promote Employee Stock Ownership (organized in January 2000 in response to the DOL opinion letter) urged Congress 8220to develop legislation that allows companies to continue to offer stock options and other equity participation programs to non-exempt (hourly) 11 workers.8221 Meanwhile, Secretary Herman acknowledged that 8220the workplace is constantly changing, and that to maintain the spirit of the law, sometimes the letter of the law must change.8221 She affirmed: 8220If all interested parties work together in a 6 William C. Goodling to Alexis Herman, January 27, 2000. The letter was co-signed by three subcommittee chairmen from the Committee on Education and the Workforce. 7 James A. Klein, president, Association of Private Pension and Welfare Plans, to Alexis Herman, January 24, 2000. Under date of January 31, 2000, Representative Cunningham had circulated a 8220Dear Colleague8221 letter advising the Members of the issue and urging a legislative solution. On February 15, 2000, together with other Members, he took up the issue in a letter to Secretary Herman. See Bureau of National Affairs, Daily Labor Report, February 17, 2000: A12-A13. (Hereafter cited as DLR.) 8 T. Michael Kerr to Representative Cass Ballenger, Chairman, Subcommittee on Workforce Protections, February 28, 2000. 9 Ibid. 10 News Release, Employment Policy Foundation, March 2, 2000. 11 News Release, Coalition To Promote Employee Stock Ownership, March 2, 2000. The Coalition is identified as 8220composed of more than 100 companies and trade associations dedicated to working with Congress, the Administration and other groups to preserve the ability of non-exempt employees to receive the benefits of equity participation in their companies.8221 constructive way, we can arrive at a solution that will benefit both employees and their employers.8221 12 A Hearing in the House On March 2, a hearing on the stock option issue was conducted by the Subcommittee on Workforce Protections with Representative Ballenger as chairman. The hearing dealt only with the concept of stock options for hourly-paid workers no legislative language had yet been presented. Several industry spokespersons were among the witnesses. Randall MacDonald, Vice President of GTE and a member of the Board of Directors of the LPA, outlined how stock option plans work and pointed to certain 8220legal liabilities8221 in the wake of the opinion letter. Even if the Department of Labor decides not to enforce the policy outlines in the advisory opinion, the Fair Labor Standards Act provides a private right of action. Courts often view advisory opinion letters as indicative of how the Wage and Hour Division, which is the expert agency with regard to federal wage and hour matters, interprets the law and the regulations it enforces. Consequently, courts could still consider the letter as primary guidance in interpreting the FLSA. This means that employers who have tried to narrow the gap and give similar benefits to exempt and nonexempt employees could find themselves the subject of huge class - 13 action lawsuits based on this policy. Under questioning by the Subcommittee, Administrator Kerr acknowledged the need to resolve the current conflict promptly and expressed a willingness to cooperate with 14 the Subcommittee in developing an appropriate amendment to the FLSA. Crafting a Legislative Solution Through the next two weeks, negotiations continued between DOL and congressional staff, 8220complicated by differences over how to define the types of programs that would be covered by a new statutory exemption.8221 By some estimates, 8220between 7 million and 10 million nonmanagement workers receive some form of stock options.8221 But, DOL found that there 8220is not a lot of information8221 about the 12 News Release, U. S. Department of Labor, 8220Statement of Alexis M. Herman on Stock Options and the FLSA,8221 March 2, 2000. During the early weeks of 2000, the role of opinion letters had surfaced on two fronts: the stock option case, discussed here, and OSHA coverage of employees who work from their homes 8212 each, controversial. On February 15, 2000, Representative David McIntosh (R-IN), chairman, Government Reform Subcommittee on National Economic Growth, Natural Resources and Regulatory Affairs, conducted a hearing on the use of opinion letters. See Bureau of National Affairs, DLR, February 16, 2000: AA1-AA2, E1-E2. 13 Statement of J. Randall MacDonald before the House Subcommittee on Workforce Protections, March 2, 2000. 14 DLR, March 3, 2000: AA1-AA2. Kerr is quoted as having said that 8220the best solution would be to address this matter legislatively.8221 practice. 15 On March 22, Secretary Herman appeared before the House Appropriations Subcommittee on Labor, Health and Human Services, and Education, and, as recounted in the Daily Labor Report, restating her commitment 8220to resolving 16 the matter in a 8216way that is advantageous to American workers.82178221 A week later, on March 29, Secretary Herman joined with a bipartisan group of House and Senate Members to announce introduction of corrective legislation: S. 2323 (McConnell) and H. R. 4109 (Ballenger). The Daily Labor Report noted that the legislation, the Worker Economic Opportunity Act, 8220appears to be on a fast track.8221 It added: 8220Introduction of the measure was greeted with great fanfare, particularly from groups representing high tech employers, such as those in the information technology sector, that increasingly are relying on stock options to attract and retain employees.8221 17 The Senate would act first. Bypassing the hearings process, S. 2323 was called up for floor consideration on April 12. Senator McConnell opened discussion of the bill by declaring that 8220everybody wins with this proposal.8221 He pointed to 8220our 19308217s vintage labor laws8221 and stated: 8220It would be a travesty for us to let old laws steal this chance for the average employee to share in his or her company8217s economic growth.8221 He urged passage of the legislation so that 8220our 8216New Deal8217 labor laws8221 will not 8220strangle the benefits our 8216New Economy8217 offers to American workers.8221 Senator McConnell placed in the Record an endorsement from the U. S. Chamber of Commerce for S. 2323 and noted: 8220. this legislation includes a broad 8216safe harbor8217 that specifies that employers have no liability because of any stock options or similar programs that they have given to employees in the past.8221 18 Various Senators spoke in support of the legislation none in opposition. And, no questions critical of the proposal were raised. Senator Christopher Dodd (D-CT) advised that 8220the Clinton-Gore administration is a strong backer8221 of the legislation. Senator James Jeffords (R-VT) pointed out that stock option programs aid employers as 8220a key tool for employee recruitment, motivation and retention.8221 Senator Mike Enzi (R-WY) envisioned 8220secretaries, factory workers, janitors, mailroom clerks 8212 everybody8221 with stock options and argued that 8220the line is dimming on who is the employer and who is the employee.8221 Senator Edward Kennedy (D-MA) spoke in support of the FLSA, noting the 8220fundamental role8221 it has played 8220in ensuring a fairer standard of living for all American workers8221 and he warned Congress 8220to ensure that any changes in this important law do not undermine the wage and hour protections guaranteed to workers under the act.8221 He would support S. 2323, he said, 8220because it helps ensure that employers cannot misuse the act as an excuse to exclude rank and file workers from the stock option plans.8221 15 DLR, March 20, 2000: C1-C2. Italics added. The estimate is by the National Center for Employee Ownership. 16 DLR, March 29, 2000: A1-A2. 17 DLR, March 30, 2000: A12-A13. 18 Senate debate is summarized from: Congressional Record, April 12, 2000, p. S2575- S2586. Without dissenting argument, debate ended and the roll was called. S. 2323 was approved by a vote of 95 yeas with 5 members not voting. 19 On May 3, 2000, the bill was called up in the House. Support for the proposal was bipartisan. Major Owens (D-N. Y.), rising in behalf of the bill, expressed his full concurrence 8220that speculative stock options should not be subject to overtime and that invoking the requirements of the law at this late date ex post facto would be unfair 20 and unwise.8221 Representative Ballenger pointed to the bill as a means through which 8220to protect the stock option programs for rank and file employees.8221 And, he affirmed: 82208221Allowing hard-working rank and file employees to share in the growth of their companies is good for morale, good for families, and good for the country.8221 2 1 Following a brief debate during which no dissent was offered, the House voted 421 to 0 to pass the legislation (13 not voting). 22 On May 18, 2000, the bill was signed by President Clinton (P. L. 106-202). Substance of the 8220Stock Option8221 Amendments In the Fair Labor Standards Act, Section 7(e) defines 8220regular rate8221 for purposes of calculating overtime pay at 1189 times a worker8217s 8220regular rate.8221 Under it, there are seven sub-paragraphs that set forth what the regular rate 8220shall not be deemed to include.8221 The proposed legislation (S. 2323 and H. R. 4109) would add to that list an eighth paragraph. 23 The 8220Stock Option8221 Provisions The new Section 7(e)(8) excludes 8220any value or income derived from employer - provided grants or rights provided pursuant to a stock option, stock appreciation right, or bona fide employee stock purchase program which is not otherwise excludable under any of paragraphs (1) through (7) if82128221. It then sets forth a series of qualifiers: (A)grants are made pursuant to a program, the terms and conditions of which are communicated to participating employees either at the beginning of the employee8217s participation in the program or at the time of the grant (B)in the case of stock options and stock appreciation rights, the grant or right cannot be exercisable for a period of at least 6 months after the time of grant (except that grants or rights may become exercisable 19 Congressional Record, April 12, 2000: S2586. 20 Congressional Record, May 3, 2000, p. H2443. 21 Congressional Record, May 3, 2000, p. H2446. 22 Congressional Record, May 3, 2000, p. H2467. 23 The proponents of the legislation have placed in the Congressional Record (April 12, 2000, p. S2576-S2581), a statement of legislative intent and a section-by-section analysis of the proposal. because of an employee8217s death, disability, retirement, or a change in corporate ownership, or other circumstances permitted by regulation), and the exercise price is at least 85 percent of the fair market value of the stock at the time of grant (C)exercise of any grant or right is voluntary and (D)any determinations regarding the award of, and the amount of, employer-provided grants or rights that are based on performance are8212 (i)made based upon meeting previously established performance criteria (which may include hours of work, efficiency, or productivity) of any business unit consisting of at least 10 employees or of a facility, except that, any determinations may be based on length of service or minimum schedule of hours or days of work or (ii)made based upon the past performance (which may include any criteria) of one or more employees in a given period so long as the determination is in the sole discretion of the employer and not pursuant to any prior contract. Further, the proposed legislation modifies Section 7(h). The authors explain the purpose, here, as technical, 8220to make clear that the amounts excluded under Section 7(e) of the bill are not counted toward an employer8217s minimum wage requirement under Section 6 of the Fair Labor Standards Act and that the amounts excluded under Section 7(e)(1)-(4) and new Section 7(e)(8) are not counted toward overtime pay 24 under Section 7 of the Act.8221 Retroactive Immunity from Liability In order to avoid the possibility of an employee suit for back pay for overtime (based on the assumption (a) that a stock option program had been in effect, (b) that its value had not been taken into account when the worker8217s regular rate was calculated, and (c) that the Department were to enforce the thrust of the stock option opinion letter beyond the single case with which it dealt), the proposed legislation contains a clause providing retroactive immunity from such liability. No employer shall be liable under the Fair Labor Standards Act of 1938 for any failure to include in an employee8217s regular rate. any income or value derived from employer-provided grants or rights obtained pursuant to any stock option, stock appreciation right, or employee stock purchase program if8212 24 Congressional Record, April 12, 2000: S2581. (1)the grants or rights were obtained before the effective date described in Subsection (c) 25 (2)the grants or rights were obtained within the 12-month period beginning on the effective date described in Subsection (c), so long as such program was in existence on the date of enactment of this Act and will require shareholder approval to modify such program to comply with Section 7(e)(8). or (3)such program is provided under a collective bargaining agreement that is in effect on the effective date described in Subsection (c). Other The Secretary of Labor is given authority to 8220promulgate such regulations as may be necessary to carry out the amendments8221 set forth in the legislation. Finally, the entire package of amendments will become effective 90 days after the date of enactment. Comment From the hearing of the Subcommittee on Workforce Protections and from statements of proponents of the legislation, it seems clear that, in the wake of the DOL opinion letter of February 12, 1999, clarification was deemed necessary. Whether clarification could be achieved through the rulemaking process with greater flexibility than through legislation may be less clear. Nor is it clear that the pending legislative approach is necessarily the only possible option. 8220The Labor Department endorsed a narrow, targeted legislative fix confined to the particular issue raised in the opinion letter,8221 observed the Daily Labor Report, 8220while business groups pushed for a broad FLSA exemption that would recognize that stock ownership programs are fashioned in numerous different ways.8221 26 But both the Department and the authors of the pending legislation appear to have opted for legislation. The immediate issue of the pending legislation is not whether or not employers should institute stock option programs for their employees 8212 or whether such initiatives are wise public policy. The legislation would merely clarify the treatment of stock options for regular rate purposes under the FLSA. However, in the absence of such clarification, industry witnesses have argued that such stock option programs would likely be curtailed. With adoption of the legislation, an institutional impediment to these programs is removed. 25 Section (c) would make the amendments effective 90 days after the date of enactment. 26 DLR, March 29, 2000: A2.The Use of Blind Trusts by Federal Officials CRS Report for Congress The Use of Blind Tr usts By Feder a l Officials Jack Maskell Legislative Attorney American Law Division Summary A blind trust, as discussed in this report, is a device employed by a federal official to hold, administer and manage the private financial assets, investments and ownerships of the official, and his or her spouse and dependant children, as a method of conflict of interest avoidance. In establishing a qualified blind trust upon the approval of the appropriate supervisory ethics entity, the official transfers, without restriction, control and management of private assets to an independent trustee who may not communicate information about the identity of the holdings in the trust to the official. The trust is considered 8220blind8221 because eventually, through the sale of transferred assets and the purchase of new ones, the public officer will be shielded from knowledge of the identity of the specific assets in the trust. Without such knowledge, conflict of interest issues would be avoided because no particular asset in the trust could act as an influence upon the official duties that the officer performs for the Government. This report provides a brief discussion of the use of 8220blind trusts8221 by federal officials in the context of conflict of interest regulation and avoidance. Initially, it should be noted that there is no federal statute which expressly requires that particular federal officials place assets into a 8220blind trust8221 upon entering public service with the Federal Government. Rather, the use of a 8220blind trust8221 is one of several methods of conflict of interest avoidance under federal law and regulation. There are now uniform statutory requirements for the establishment and maintenance of blind trusts, and federal officials who are to use such devices, either voluntarily or as a remedial measure for identified conflicts of interest, must receive from their supervisory ethics office prior approval of the proposed trustee and the trust instrument to qualify the blind trust for ethics purposes. Background: Conflicts of Interest, Disclosure and Disqualification. The body of federal law and regulation concerning conflicts of interest and the private assets and investments of federal officials is generally directed at the concern, as expressed by the Supreme Court, 8220that an impairment of impartial judgment can occur in even the most well-meaning men when their personal economic interests are affected by Congressional Research Service 732 The Library of Congress the business they transact on behalf of the Government.8221 1 The underlying principle of federal conflict of interest regulation thus embodies the axiom 8220that a public servant owes undivided loyalty to the Government,8221 2 and that official decisions, advice and recommendations of officers of the Government be made in the public interest and not be tainted, even unintentionally, with influence from private or personal financial interests. 3 It is assumed, of course, that persons in or entering into Government service will own and possess financial assets, instruments and property to a somewhat similar extent as those comparably situated in the general population. Federal officers and employees are not, however, expected to divest themselves of all their worldly goods to avoid conflicts of interest. Rather, with respect to a federal official8217s personal ownership of assets, financial instruments, and income-producing property, the principal methods of conflict of interest regulation under federal law are disqualification and disclosure. Disqualification. The principal federal conflict of interest law provides that an official who administers federal law should not take any official action on, or make recommendations concerning any particular governmental matter in which that official, or one closely associated with the official, has a personal 8220financial interest.8221 4 That is, federal officials in the executive branch of Government, other than the President or Vice President, 5 must generally 8220recuse8221 or disqualify themselves from participating in any particular governmental matter in which they have a financial interest, or in which their spouse, dependant children, partner, or business with which they are associated, has a financial interest. Executive branch officials may also be required, under regulations promulgated by the Office of Government Ethics OGE, to recuse themselves from certain governmental matters affecting an even broader category of persons or entities with whom they have a 8220covered relationship.8221 6 Disclosure. To enforce conflict of interest provisions, to deter the ownership of assets which may raise ethical problems, and to provide public information and assurances concerning the ethical conduct of high-level Government officials, the identity and categories of amount of one8217s assets, ownerships, and property (as well as other detailed financial information), must be publicly disclosed by high-level federal officials upon entering Government and every year thereafter, under the provisions of the Ethics in Government Act of 1978. 7 Generally, the identity of the assets and ownerships of a covered official, such as stocks, bonds, interests in income-producing real property, stock 1 United States v. Mississippi Valley Generating Co. 364 U. S. 520, 549 (1960). 2 H. Rept. 87-748, 87th Congress, 1st Session, at 3 (1961), on revised conflict of interest laws. 3 H. Rept 87-748, supra at 4-6: 8220The attainment of one or more of these ends is impaired whenever there exists, or appears to exist an actual or potential conflict between the private interests of a Government employee and his duties as an official.8221 See also, Association of the Bar of the City of New York, Conflict of Interest and Federal Service, at 3-4 (1960). 4 18 U. S.C. 167 208. 5 18 U. S.C. 167 202(c) now expressly exempts the President and Vice President from 167 208. 6 5 C. F.R. 167167 2635.501, 2635.502. 7 P. L. 95-521, as amended see now 5 U. S.C. app. 167167 101 et seq. In addition to public disclosures required by law of high-ranking officials, confidential disclosures to employing agencies may be required from certain rank-and-file federal employees. 5 C. F.R. 167 2634.901 et seq. options, futures, mutual fund shares, and partnership shares, even those interests held in a 8220trust8221 managed by an independent trustee for the benefit of the official, are required to be disclosed by the public official in his or her disclosure reports, unless the trust meets one of the three exceptions in the law, including a 8220qualified blind trust.8221 8 For elected federal officials, that is, Members of Congress, the President and Vice President, public financial disclosure and the attendant publicity is the principal method of conflict of interest regulation, as such constitutional officers are not required by statute to disqualify or recuse themselves from the performance of their constitutional duties. 9 Remedial Measures for Conflicting Assets. Financial disclosure reports from covered officials, including the original entrance reports and the annual reports filed by May 15, are to be reviewed by supervisory ethics personnel to identify potential ethics and conflict problems, and to resolve any conflict of interest issues that may be raised by the ownership of certain assets by a particular public official. Remedial action which may be required by ethics officials to resolve identified conflicts of interest with respect to certain assets may include divestiture, establishment of a qualified blind trust, procurement of conflict of interest waivers, specific written recusal instruments, and requests for voluntary transfer or reassignment. 10 Although there is not a general divestiture requirement for federal officials entering Government service, 11 the regulation of federal conflict of interest law in the executive branch provides that certain financial interests may, as noted above, necessitate some remedial measure, including divestiture, for the official to come into compliance with federal conflict of interest laws or regulations. 12 Regulations issued by the Office of Government Ethics indicate that when the ownership of a particular asset would require, under federal law or regulation, an executive branch employee8217s disqualification or recusal from matters 8220so central or critical8221 to his or her job that it would 8220materially impair 8221 the employee8217s ability to perform the official duties of the office, or where it 8 5 U. S.C. app. 167 102(f)(1). The three exceptions are for (1) a 8220qualified blind trust,8221 (2) a trust created by a third party when the official has no knowledge of the assets in the trust, and (3) a 8220qualified diversified trust.8221 5 U. S.C. app. 167167 102(f)(2), (3)-(7), and (8). 9 Even before express statutory exemption (18 U. S.C. 167 202(c)), the disqualification law was interpreted not to apply to the President and Vice President since a statutory recusal rule might interfere with such officers8217 constitutional duties. See Department of Justice letter opinion to Chairman of the Senate Rules and Administration Committee, September 20, 1974. The recusal law has never applied to Members of Congress since a forced disqualification would be tantamount to a disenfranchisement and loss of representation for the Members8217 constituents. 10 5 U. S.C. app. 167106(b)(3) 5 C. F.R. 167 2634.605(b)(5)(ii). 11 While there is no law generally requiring federal employees to divest holdings, some statutes, often organic acts establishing an agency, may prohibit officials of such entities from having financial interests in the business or sector which the agency oversees. Also, an agency may by regulation prohibit or restrict ownership of certain assets by its officers and employees where, because of the mission of the agency, such interests would 8220cause a reasonable person to question the impartiality and objectivity with which agency programs are administered.8221 5 C. F.R. 167 2635.403(a). In such instances, these provisions may, in effect, require the divestiture of particular assets and holdings of certain individuals in or to be appointed to such positions. 12 5 U. S.C. app. 167 106(b)(3) see also 5 C. F.R. 167 2634.605(b)(4),(5). could adversely affect the agency8217s mission because another employee could not easily be substituted for the disqualified employee, then the official may be required by the supervisory ethics office to 8220divest8221 that particular asset. 13 Blind Trust as Remedial or Voluntary Measure. In some instances, the establishment of a 8220qualified blind trust8221 may be used as a conflict of interest avoidance device as an alternative to outright 8220divestiture8221 of particular assets or other measures. In addition to regular reviews and possible remediations, officials who are appointed by the President with the advice and consent of the Senate, must file a disclosure statement within five days of nomination. The statement is to be reviewed and any remedial action proposed by agency or department ethics officials, then reviewed and approved by the Office of Government Ethics, and then forwarded to the appropriate Senate committee. 14 In the executive review process, an 8220ethics agreement8221 may be entered into whereby the official, to avoid conflicts issues with respect to particular assets, agrees to certain remedial action, including the transfer of assets to a qualified blind trust, instead of divestiture or specific disqualification agreements. 15 The Senate committee initially reviewing such nomination, or the Senate as a whole, may also require from the nominee an agreement for the disposition of certain assets, including their sale or transfer to a blind trust as a condition of favorable action on the nomination regardless of, or in addition to, any executive branch actions and agreements. 16 In addition to the establishment of a blind trust as a remedial measure for specific conflicts of interest, blind trusts may also be created by officials on their own initiative to avoid potential conflict issues andor to ease reporting burdens. Blind trusts may be used by such Government officials even when the disqualification requirements of federal law do not apply to them, such as for Members of Congress, the President, and the Vice President. If such trusts meet the requirements of 8220qualified blind trusts8221 under federal law, then disclosure may be simplified for such officials, identifying only the trust and overall income from it, as opposed to all individual underlying assets and transactions. Requirements of a Qualified Blind Trust. The nature of a 8220blind trust,8221 generally, is such that the federal official will have no control over, will receive no communications about, and will (eventually as existing assets are sold and new ones obtained by the trustee) have no knowledge of the identity of the specific assets held in the trust. As such, once a blind trust is established and new assets obtained, an official will not need to (and will not be able to) identify the particular assets 13 5 C. F.R. 167 2635.403(b). When divestiture is required, an employee should be afforded a 8220reasonable amount of time8221 to dispose of the asset and may be able to ameliorate potential unfair tax burdens from such required sale by receiving a certificate of divestiture postponing capital gains taxes. 5 C. F.R. 167167 2635.403(d),(e), and 2634.1001 et. seq. 14 5 U. S.C. app. 167 101(b) 5 C. F.R 167 2634.602(a),(c)(1)(vi) 5 C. F.R 167 2634.605(c). 15 5 C. F.R. 1672634.605(c)(2)(iii)(B). 16 Any 8220conditions8221 must be agreed to before a vote, as a confirmation vote itself may not be 8220conditional.8221 Riddick and Fruman, Riddick8217s Senate Procedure, S. Doc. 101-28, at 940 (1992). in the 8220blind trust8221 in future financial disclosure reports, 17 and such assets will not be considered 8220financial interests8221 of the official for disqualification purposes. 18 The conflict of interest theory under which the blind trust provisions operate is that since the Government officer will not know the identity of the specific assets in the trust, those financial interests could not act as influences on his or her official decisions, thus avoiding real or apparent conflicts. 19 Assets originally placed into the trust will, of course, be known to the official, and therefore will generally continue to be 8220financial interests8221 of the public official for conflict of interest purposes until the trustee notifies the official 8220that such asset has been disposed of, or has a value of less than 1,000.8221 20 For a blind trust to be effective as a conflict of interest avoidance device the law recognizes that the official must be shielded from knowledge and control of the assets in the trust by making the trust truly 8220blind,8221 and by assuring that the trustee is actually independent of and autonomous from direction or influence of the reporting official. The statute therefore: (1) requires the trustee to be an independent professional and not be 8220associated8221 or 8220affiliated8221 with the official or any interested party (2) requires assets to be placed in the trust with no restrictions upon their sale or disposition at the discretion of the trustee (3) prohibits communications from the trustee to interested parties (other than to notify when an original asset has been disposed of or becomes valued at less than 1,000, and to give information on the overall value and income of the entire trust) (4) prohibits interested parties from attempting to learn the identification of the assets in the trust and (5) limits communications from the official to the trustee (other than instructions on distributions from the trust) except when in writing concerning general financial needs, new prohibitions on the holding of an asset, or new requirements to sell an original asset 8220due to the subsequent assumption of duties8221 of the reporting official. Prior to 1978, there was no federal law or regulation providing rules on 8220blind trusts8221 for federal officials and their use was widely inconsistent, sometimes being created only at the insistence of a Senate committee as a requirement for approval of a nomination. The structure and effectiveness of such trusts varied widely, and there existed no oversight or enforcement mechanisms concerning their operations. 21 With the passage of the Ethics in Government Act in 1978, there were for the first time specific requirements and uniform guidelines for the establishment, maintenance, operation and enforcement of 8220blind trusts8221 for federal officials. Among the specific requirements and features of a 8220qualified blind trust8221 under federal law are the following: Prior approval. Before a trust may be a 8220qualified blind trust8221 for conflict of interest purposes, the officer must receive prior approval of the trust instrument and the 17 5 U. S.C. app. 167102(f)(2)(A). 18 5 U. S.C. app. 167 102(f)(4)(A) 5 C. F.R. 167 2634.401(ii). 19 S. Rept. 95-639, 95 th Cong. 2d Sess. Report of the Committee on Governmental Affairs, 8220Blind Trusts,8221 at 2-5, 13 (1978) 5 C. F.R. 167 2634.401(b). 20 5 U. S.C. app. 167102(f)(4)(A) 5 C. F.R. 167 2634.401(a)(ii). An exception to this rule is provided in certain circumstances for well-diversified, marketable assets placed in a trust when the assets are not in the primary area of official responsibility of the Government officer. Note other requirements for this exception at 5 U. S.C. app. 167 102(f)(4)(B)(i)(I) - (V). 21 S. Rept. 95-639, supra at 6-7. See also OGE Opinion 86 x 12, September 8, 1986. trustee from the appropriate supervisory ethics office (5 U. S.C. app. 167 102(f)(3)(D)), that is, the Office of Government Ethics in the executive branch and the Senate Select Committee on Ethics or the House Committee on Standards of Official Conduct. Initial filing. After the trust is established the official, within 30 days, must file the executed trust agreement and a list of all assets originally transferred to the trust, and their categories of value, to the supervisory ethics office. 5 U. S.C. app. 167102(f)(5)(A). Independent trustee. The trustee must be a financial institution, a C. P.A. an attorney, a broker, or an investment advisor who is independent of the federal official or any person interested in the trust, and whose officers or employees are similarly independent. Such independence requires that the trustee and trust employees not be able to be influenced by the official or other interested parties in investment decisions, and not be 8220associated8221 or 8220affiliated8221 with, nor an employee, partner of or a relative of, the public official or any interested party to the trust. 5 U. S.C. app. 167 102(f)(3)(A). Unconditional transfer. The trust instrument must provide that the trustee of a blind trust has the freedom to be able to sell or dispose of any assets in the corpus of the trust at his or her discretion, unless a restriction on particular assets is expressly approved by the supervisory ethics office. 5 U. S.C. app. 167102(f)(3)(B). Prohibited assets. Assets originally transferred to the trust are still to be considered 8220financial interests8221 of the official for conflict of interest purposes until disposed of or their value becomes less than 1,000. 5 U. S.C. app. 167102(f)(4)(A). The trust should not contain in its inception any assets which the public official is expressly prohibited from holding by federal law or regulation. 5 U. S.C. app. 167102(f)(3)(C)(ii) see OGE Advisory Opinion 86 x 12, September 8, 1986. No communications. The trustee is prohibited from consulting or communicating with the beneficiaries or other interested parties in the trust concerning the identity of any asset in the trust, except to inform the officer when an original asset has been disposed of or its value has become less than 1,000, as required by law. The trustee is to prepare the tax return for the trust, and no reports concerning the holdings of the trust, but rather only information on the value and income of the trust as a whole, may be made to the official and interested parties. 5 U. S.C. app. 167167102(f)(3)(C), 102(f)(6)(A). The beneficiaries of the blind trust may not communicate with the trustee (other than for instructions for distributions from the trust) except in writing concerning (1) general financial needs or income of interested parties (2) notifications of a 8220law or regulation subsequently applicable8221 prohibiting the holding of an asset, or (3) directions to sell all of an original asset which now creates a real or apparent conflict of interest 8220due to the subsequent assumption of duties8221 of the reporting official. 5 U. S.C. app. 167 102(f)(3)(C)(vi). No peeking. The beneficiaries of the blind trust may not attempt to gain information about the identity of any assets held in the trust 5 U. S.C. app. 167167 Enforcement. The Attorney General is authorized to bring civil action for violations of these laws concerning communications and disclosures between trustees and blind trusts beneficiaries. 5 U. S.C. app. 167102(f)(6)(c).
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