Howell Heflin

The Committee's decision to increase the time period to 20 days was proposed to conform bankruptcy law practices to most State's practices. I would like to clarify just one point with the Senator from Tennessee, however. That is that while…

First, let me point out that under current Federal law a trustee may not avoid a transfer that creates a purchase money security interest in property acquired by a debtor that is perfected on or before 10 days of the debtor receiving…

I am sympathetic to the issue that the distinguished Senator from Alaska has raised. Many financial institutions in my State have expressed concern about these reporting requirements. And the Senator is correct that in nearly all consumer…

My fear is that this is subject to legislative definition. If it is subject to legislative definition, then we can have a broad group of expenditures that would come under the category of capital investments. If it is in any way related to…

All right. Now, what interpretation can we give of capital investments? What is the definition and what would be inclusive and what would be exclusive, and what guidelines would we use in determining what capital investments are?

Let me ask the Senator about section 4 where he uses the words ``total estimated receipts of the operating funds shall exclude those derived from,'' and it says ``net borrowing.'' In the Simon amendment, it includes borrowing derived from…

You adopt a budget in advance. The budget is in advance of a fiscal year. Section 2, for example, says not later than the first Monday in February the President shall submit for the fiscal year beginning in that calendar year. You are…

The way I read the language, the article shall be suspended for any fiscal year which is for 1 year and the first fiscal year thereafter. We, of course, are dealing with a budget that is adopted prior to the fiscal year. In other words…

I am cognizant of that, and that causes me some concern with regard to the Simon amendment, also. Like the words operating funds--again, what is operating funds? What is excluded from operating funds, and what is included with them? That…

Well, we are dealing with the Constitution here, and we are dealing with words of estimation and the statutory construction that is given to it. I have some question as to what these words mean, what is included within it. We are dealing…

I interpret that to mean that over a 2-year period, which is 24 months, if estimated in the last 6 months of that 24-month period, there would be economic growth less than 1 percent; therefore, it would go into effect. That seems to me to…

Victor Poole, the senior member of the Alabama State Board of Education, announced in December that he will not be a candidate for reelection this year. Victor is known throughout the State as a tenacious advocate for his constituents in…

I am proud of this dedicated group of singers, and am pleased to extend my congratulations to them for having had the opportunity to perform at the Washington National Cathedral.