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The Uniform Prudent Management of Institutional Funds Act (UPMIFA) is a uniform act that provides guidance on investment decisions and endowment expenditures for nonprofit and charitable organizations. As of 2012 [1] UPMIFA is the law in 49 states, the District of Columbia and the U.S. Virgin Islands. [2]
Mandatory spending plays a large role in larger fiscal trends. During economic downturns, government revenues fall and expenditures rise as more people become eligible for mandatory programs such as Unemployment Insurance and Income Security programs. This causes deficits to increase or surpluses to shrink.
The law includes the largest federal investment in public transit in history. [81] The law includes spending figures of $105 billion in public transport. It also spends $110 billion on fixing roads and bridges and includes measures for climate change mitigation and improving access for cyclists and pedestrians. [82]
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Construction block made from hempcrete Illustration of hemp concrete carbon emissions and sequestration, with a net emissions balance indicating carbon negativity. Hempcrete or hemplime is biocomposite material, a mixture of hemp hurds and lime, [1] sand, or pozzolans, which is used as a material for construction and insulation. [2]
The "polestar" of regulatory takings jurisprudence is Penn Central Transp. Co. v.New York City (1973). [3] In Penn Central, the Court denied a takings claim brought by the owner of Grand Central Terminal following refusal of the New York City Landmarks Preservation Commission to approve plans for construction of 50-story office building over Grand Central Terminal.
The Act effectively removed the impoundment power of the president and required him to obtain Congressional approval if he wants to rescind specific government spending. President Nixon signed the Act with little protest because the administration was then embroiled in the Watergate scandal and unwilling to provoke Congress. [6]
The Securities Investor Protection Corporation (SIPC / ˈ s ɪ p ɪ k /) is a federally mandated, non-profit, member-funded, United States government corporation created under the Securities Investor Protection Act (SIPA) of 1970 [3] that mandates membership of most US-registered broker-dealers.