Congress · Laws

A bill relating to the application of certain provisions of the Internal Revenue Code of 1954 to specified transactions by certain public employee retirement systems created by the State of New York or any of its political subdivisions.

Public Law 94-236 · H.R. 11700 · 94th Congress · began in the House

Signed by Gerald Ford (R) on Mar 19, 1976 · Economics and Public Finance

Sponsor: Rep. Charlie Rangel (D-NY-19)

Cosponsors (2): Rep. Otis Pike, Rep. Barber Conable

Passage votesYeaNay

HouseRecorded vote: 298 yea, 45 nay298–45
SenateMethod not stated

Data notes

The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.

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Summary

The Congressional Research Service’s plain-language summary of what the law does.

Provides that no pension plan or trust which was a party to the November 26, 1975, agreement of exchange of specified bonds of the Municipal Assistance Corporation for the City of New York (M.A.C.) for outstanding short-term obligations of New York City shall be considered to fail the requirements for qualified pension, profit-sharing, and stock bonus plans under the Internal Revenue Code or to have engaged in transactions which would nullify its tax-exempt status under the Code by merely engaging in enumerated transactions including: (1) agreeing to an amendment to the exchange agreement; (2) forebearing from any act prohibited by such agreement; (3) acquiring or holding any bond or note; and (4) investing or retaining investments in order to maintain the city of New York or to protect the sources of funds for retirement plans.

Requires trustees of each pension plan or trust which participates in the exchange offer to furnish a copy of the annual report filed with the New York State Insurance Department to the Secretary of the Treasury, the Chairman of the House Ways and Means Committee, and the Chairman of the Senate Finance Committee.

Who voted for it

Every House member of the 94th Congress on the ideology compass. Highlighted: the 298 who voted yea on final passage. Faded: everyone else, including those who voted nay, did not vote, or had not yet taken office.

298 yea45 nay89 present or did not vote

Dimension 2

Economic left–right

More liberalMore conservative

Democrats who voted yea(216)

Rep. Louis StokesD-OH-21
Rep. Pete StarkD-CA-9
Rep. Bella AbzugD-NY-20
Rep. James CormanD-CA-21
Rep. Ronald DellumsD-CA-8
Rep. Don EdwardsD-CA-10
Rep. Edward RoybalD-CA-25
Rep. Phillip BurtonD-CA-6
Rep. Bill ClayD-MO-1
Rep. Elizabeth HoltzmanD-NY-16
Rep. Shirley ChisholmD-NY-12
Rep. Henry WaxmanD-CA-24
Rep. Benjamin RosenthalD-NY-8
Rep. Charlie RangelD-NY-19
Rep. Frank ThompsonD-NJ-4
Rep. James OberstarD-MN-8
Rep. Barbara JordanD-TX-18
Rep. William FordD-MI-15
Rep. Frederick RichmondD-NY-14
Rep. Henry GonzálezD-TX-20
Rep. Harold JohnsonD-CA-1
Rep. Charles CarneyD-OH-19
Rep. James HowardD-NJ-3
Rep. John SeiberlingD-OH-14
Rep. Jonathan BinghamD-NY-22
Rep. John BurtonD-CA-5
Rep. John BrademasD-IN-3
Rep. Patsy MinkD-HI-2
Rep. James ScheuerD-NY-11
Rep. John McFallD-CA-14
Rep. Charles PriceD-IL-23
Rep. Edward KochD-NY-18
Rep. Joshua EilbergD-PA-4
Rep. Robert LeggettD-CA-4
Rep. Henry ReussD-WI-5
Rep. Joseph AddabboD-NY-7
Rep. Norman MinetaD-CA-13
Rep. Peter RodinoD-NJ-10
Rep. Stephen SolarzD-NY-13
Rep. George MillerD-CA-7
Rep. Henry HelstoskiD-NJ-9
Rep. Lloyd MeedsD-WA-2
Rep. John FaryD-IL-5
Rep. Sidney YatesD-IL-9
Rep. Ray MaddenD-IN-1
Rep. Helen MeynerD-NJ-13
Rep. Edward MezvinskyD-IA-1
Rep. William BrodheadD-MI-17
Rep. Dave ObeyD-WI-7
Rep. Thomas MorganD-PA-22
Rep. Frank AnnunzioD-IL-11
Rep. John MurphyD-NY-17
Rep. Dominick DanielsD-NJ-14
Rep. Fernand St. GermainD-RI-1
Rep. Floyd HicksD-WA-6
Rep. James BurkeD-MA-11
Rep. William LehmanD-FL-13
Rep. Robert DrinanD-MA-4
Rep. Daniel RostenkowskiD-IL-8
Rep. William BurlisonD-MO-10
Rep. Edward PattenD-NJ-15
Rep. James StantonD-OH-20
Rep. Morgan MurphyD-IL-2
Rep. Abner MikvaD-IL-10
Rep. Joseph KarthD-MN-4
Rep. George DanielsonD-CA-30
Rep. James O’HaraD-MI-12
Rep. Edward BeardD-RI-2
Rep. James WeaverD-OR-4
Rep. Dante FascellD-FL-15
Rep. Charles WilsonD-CA-31
Rep. Daniel FloodD-PA-11
Rep. John DentD-PA-21
Rep. Robert BerglandD-MN-7
Rep. Lucien NedziD-MI-14
Rep. William MoorheadD-PA-14
Rep. Jerry PattersonD-CA-38
Rep. Paul SarbanesD-MD-3
Rep. Robert KastenmeierD-WI-2
Rep. Richard OttingerD-NY-24
Rep. Joseph GaydosD-PA-20
Rep. Lionel Van DeerlinD-CA-42
Rep. Joseph EvinsD-TN-4
Rep. Jack BrooksD-TX-9
Rep. James HanleyD-NY-32
Rep. Bernice SiskD-CA-16
Rep. Harley StaggersD-WV-2
Rep. Robert JonesD-AL-5
Rep. Donald RiegleD-MI-7
Rep. Clement ZablockiD-WI-4
Rep. Charles VanikD-OH-22
Rep. Wayne HaysD-OH-18
Rep. James DelaneyD-NY-9
Rep. Tim HallD-IL-15
Rep. Carl PerkinsD-KY-7
Rep. William HungateD-MO-9
Rep. Brock AdamsD-WA-7
Rep. William CotterD-CT-1
Rep. Gerry StuddsD-MA-12
Rep. Herbert HarrisD-VA-8
Rep. Richard Vander VeenD-MI-5
Rep. Leslie AspinD-WI-1
Rep. Paul SimonD-IL-24
Rep. Neal SmithD-IA-4
Rep. Frederick RooneyD-PA-15
Rep. Leonor SullivanD-MO-3
Rep. Albert UllmanD-OR-2
Rep. Robert RoeD-NJ-8
Rep. Joseph MinishD-NJ-11
Rep. John MelcherD-MT-2
Rep. Robert CornellD-WI-8
Rep. Gene MaguireD-NJ-7
Rep. Thomas ReesD-CA-23
Rep. James FlorioD-NJ-1
Rep. Edward PattisonD-NY-29
Rep. James BlanchardD-MI-18
Rep. Gillis LongD-LA-8
Rep. Mike McCormackD-WA-4
Rep. Alvin BaldusD-WI-3
Rep. Gladys SpellmanD-MD-5
Rep. James WrightD-TX-12
Rep. James LloydD-CA-35
Rep. Max BaucusD-MT-1
Rep. George ShipleyD-IL-22
Rep. Henry NowakD-NY-37
Rep. Joseph FisherD-VA-10
Rep. Michael BlouinD-IA-2
Rep. Thomas DowneyD-NY-2
Rep. Allan HoweD-UT-2
Rep. Mark HannafordD-CA-34
Rep. Koln McKayD-UT-1
Rep. Clifford AllenD-TN-5
Rep. John JenretteD-SC-6
Rep. Otis PikeD-NY-1
Rep. Lester WolffD-NY-6
Rep. John KrebsD-CA-17
Rep. Joseph EarlyD-MA-3
Rep. Robert GiaimoD-CT-3
Rep. John MurthaD-PA-12
Rep. Thomas SteedD-OK-4
Rep. Bill AlexanderD-AR-1
Rep. Mendel DavisD-SC-1
Rep. Jerome TraxlerD-MI-8
Rep. John SlackD-WV-3
Rep. Martha KeysD-KS-2
Rep. Charles RoseD-NC-7
Rep. Lindy BoggsD-LA-2
Rep. William NatcherD-KY-2
Rep. Robert DuncanD-OR-3
Rep. Lunsford PreyerD-NC-6
Rep. Gus YatronD-PA-6
Rep. Jerome AmbroD-NY-3
Rep. John YoungD-TX-14
Rep. Samuel StrattonD-NY-28
Rep. John BreckinridgeD-KY-6
Rep. Bob CarrD-MI-6
Rep. John LaFalceD-NY-36
Rep. Thomas AshleyD-OH-9
Rep. Clarence LongD-MD-2
Rep. Charles WilsonD-TX-2
Rep. Norman D’AmoursD-NH-1
Rep. Tom HarkinD-IA-5
Rep. Kika de la GarzaD-TX-15
Rep. Martin RussoD-IL-3
Rep. Jake PickleD-TX-10
Rep. Berkley BedellD-IA-6
Rep. William RandallD-MO-4
Rep. Abraham KazenD-TX-23
Rep. Romano MazzoliD-KY-3
Rep. Les AuCoinD-OR-1
Rep. Butler DerrickD-SC-3
Rep. Floyd FithianD-IN-2
Rep. James SantiniD-NV
Rep. John RoushD-IN-4
Rep. Bo GinnD-GA-1
Rep. Patricia SchroederD-CO-1
Rep. Stephen NealD-NC-5
Rep. Tom BevillD-AL-4
Rep. Marilyn LloydD-TN-3
Rep. Carroll HubbardD-KY-1
Rep. Philip SharpD-IN-10
Rep. Richard WhiteD-TX-16
Rep. William HughesD-NJ-2
Rep. Lee HamiltonD-IN-9
Rep. Bill HefnerD-NC-8
Rep. David HendersonD-NC-3
Rep. George MahonD-TX-19
Rep. Paul RogersD-FL-11
Rep. Robert KruegerD-TX-21
Rep. Jack HightowerD-TX-13
Rep. James JonesD-OK-1
Rep. John BreauxD-LA-7
Rep. David EvansD-IN-6
Rep. Robert SikesD-FL-1
Rep. Jamie WhittenD-MS-1
Rep. Otto PassmanD-LA-5
Rep. Roy TaylorD-NC-11
Rep. Elliott LevitasD-GA-4
Rep. William NicholsD-AL-3
Rep. Lawrence FountainD-NC-2
Rep. James HaleyD-FL-8
Rep. Glenn EnglishD-OK-6
Rep. Marvin MathisD-GA-2
Rep. Andrew JacobsD-IN-11
Rep. Richard IchordD-MO-8
Rep. Williamson StuckeyD-GA-8
Rep. Charles BennettD-FL-3
Rep. Thomas DowningD-VA-1
Rep. Dale MilfordD-TX-24
Rep. Goodloe ByronD-MD-6
Rep. John FlyntD-GA-6
Rep. Joseph WaggonnerD-LA-4
Rep. William PoageD-TX-11
Rep. Sonny MontgomeryD-MS-3
Rep. Omar BurlesonD-TX-17
Rep. Dan DanielD-VA-5

Republicans who voted yea(82)

Rep. Charles WhalenR-OH-3
Rep. Peter PeyserR-NY-23
Rep. Gilbert GudeR-MD-8
Rep. Matthew RinaldoR-NJ-12
Rep. Silvio ConteR-MA-1
Rep. Edward BiesterR-PA-8
Rep. Frank HortonR-NY-34
Rep. Benjamin GilmanR-NY-26
Rep. Margaret HecklerR-MA-10
Rep. Joseph McDadeR-PA-10
Rep. William WalshR-NY-33
Rep. Mark AndrewsR-ND
Rep. Stewart McKinneyR-CT-4
Rep. Donald MitchellR-NY-31
Rep. Thomas RailsbackR-IL-19
Rep. William CohenR-ME-2
Rep. Jim JeffordsR-VT
Rep. Ronald SarasinR-CT-5
Rep. David EmeryR-ME-1
Rep. Hamilton FishR-NY-25
Rep. Don YoungR-AK
Rep. Joel PritchardR-WA-1
Rep. Millicent FenwickR-NJ-5
Rep. William HarshaR-OH-6
Rep. Elwood HillisR-IN-5
Rep. John StantonR-OH-11
Rep. Charles MosherR-OH-13
Rep. Norman LentR-NY-4
Rep. Edward MadiganR-IL-21
Rep. James ClevelandR-NH-2
Rep. John AndersonR-IL-16
Rep. John BuchananR-AL-6
Rep. Tennyson GuyerR-OH-4
Rep. Albert JohnsonR-PA-23
Rep. Garner ShriverR-KS-4
Rep. Donald ClausenR-CA-2
Rep. George O’BrienR-IL-17
Rep. Ralph RegulaR-OH-16
Rep. John JarmanD-OK-5
Rep. Robert CoughlinR-PA-13
Rep. Joe SkubitzR-KS-5
Rep. Charles ThoneR-NE-1
Rep. Burt TalcottR-CA-16
Rep. Paul FindleyR-IL-20
Rep. Albert QuieR-MN-1
Rep. William BroomfieldR-MI-19
Rep. Louis FreyR-FL-9
Rep. James QuillenR-TN-1
Rep. Clair BurgenerR-CA-43
Rep. George WhitehurstR-VA-2
Rep. Skip BafalisR-FL-10
Rep. William MooreR-LA-6
Rep. Elford CederbergR-MI-10
Rep. Robert McCloryR-IL-13
Rep. Robert DanielR-VA-4
Rep. Garry BrownR-MI-3
Rep. Virginia SmithR-NE-3
Rep. Guy Vander JagtR-MI-9
Rep. Manuel LujánR-NM-1
Rep. Henry HydeR-IL-6
Rep. Keith SebeliusR-KS-1
Rep. Robert LagomarsinoR-CA-19
Rep. Robert KastenR-WI-9
Rep. William SteigerR-WI-6
Rep. Alan SteelmanR-TX-5
Rep. James BroyhillR-NC-10
Rep. Manley ButlerR-VA-6
Rep. Thomas HagedornR-MN-2
Rep. Edwin ForsytheR-NJ-6
Rep. James RobinsonR-VA-7
Rep. Jack KempR-NY-38
Rep. William KetchumR-CA-18
Rep. David TreenR-LA-3
Rep. William FrenzelR-MN-3
Rep. Delbert LattaR-OH-5
Rep. Clarence BrownR-OH-7
Rep. Willis GradisonR-OH-1
Rep. James MartinR-NC-9
Rep. Barber ConableR-NY-35
Rep. Clarence MillerR-OH-10
Rep. Bud ShusterR-PA-9
Rep. Herman SchneebeliR-PA-17

Data notes

The House’s recorded vote on the final version of the law (roll call 661 in Voteview), matched to the vote the record cites and checked against its totals. Positions are each member’s DW-NOMINATE score for that Congress, as on the Ideology page; left to right is more liberal to more conservative. Paired and announced yea votes count as yea. Lists follow the compass, most liberal first. A name links to a profile only for members of the current Congress. A law passed by voice vote or unanimous consent has no member list, and neither does a vote Voteview has not yet recorded.

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Committees

The committees the bill was sent to, and what each did with it.

Ways and Means Committee · House · referred to, reported by

Data notes

A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.

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Timeline

From introduction to signing, newest first: the committees, the floor and the president. 12 actions.

Mar 19, 1976Became lawBecame law · Signed by President.
PresidentPresident · Public law 94-236.
Mar 9, 1976PresidentPresident · Measure presented to President.
PresidentPresident · Measure enrolled in Senate.
PresidentPresident · Measure enrolled in House.
Mar 4, 1976FloorFloor · Measure passed Senate.
FloorFloor · Measure called up by unanimous consent in Senate.
Mar 1, 1976FloorFloor · Measure passed House, amended, roll call #73 (298-45).House roll call 73
FloorFloor · Measure called up under motion to suspend rules and pass in House.
Feb 25, 1976CommitteeCommittee · Reported by House Ways and Means Committee
Feb 4, 1976CommitteeCommittee · Referred to House Ways and Means Committee
IntroducedIntroduced · Introduced in the House

Data notes

Shows the introduction, each committee and subcommittee step the source dates (referral, hearings, markup, report, discharge), and the floor, conference, presidential and became-law steps. Calendar placements, messages between the chambers, amendments and committee report numbers are not shown for laws before the 108th Congress. Two entries the source lists twice are shown once.

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Official record

The bill’s full text and every action, including introduction and committee steps, are on Congress.gov. Data through Oct 7, 2026.