=Title I: Product Liability Risk Retention= - Product Liability Risk Retention Act of 1980 - Defines a "risk retention group" as a corporation or other limited liability association taxable as a corporation or insurance company, formed under the laws of any State, Bermuda, or the Cayman Islands, which meets the following requirements: (1) its primary activity consists of assuming and spreading product liability exposure of its members; and is organized for the primary purpose of conducting such activity; (2) it is chartered as an insurance company; (3) it does not exclude any person from membership for competitive advantage; and (4) its members' principal activity consists of the manufacture, design, importation, distribution, packaging, lease, or sale of a product.

Defines a "purchasing group" as any group of persons having as one of its purposes the purchase of product liability insurance on a group basis.

Exempts a risk retention group from any State law to the extent that such law regulates, directly or indirectly, the operation of a risk retention group. Specifies exceptions to such exemption, including that a State may require such a group to pay taxes which are levied on admitted insurers and surplus lines insurers, comply with unfair claim settlement practices law, or reporting requirements.

Exempts such a group from any State law to the extent that such law: (1) requires or permits a group to participate in any insurance insolvency guaranty association; or (2) requires any insurance policy issued to a group to be countersigned by an insurance agent or broker residing in the State.

Exempts a purchasing group from any State law to the extent that such law: (1) prohibits the establishment of a purchasing group; (2) prohibits an insurer from providing to such a group advantage based on their loss and expense experience; (3) imposes certain other requirements on purchasing groups.

Exempts risk retention groups from the Federal securities laws and State blue sky laws.

=Title II: National Tourism Policy= - National Tourism Policy Act - Declares that the purpose of this Act is to establish a cooperative effort between the Federal Government and State and local governments and other concerned public and private organizations to implement a national tourism policy.

Establishes the National Tourism Policy Council as an independent entity within the executive branch to be the principal coordinating body for the policies, programs, and issues relating to tourism, recreation, or national heritage resources involving Federal departments, agencies, or other entities.

Establishes an Executive Committee within the Council comprised of a Chairman, Vice Chairman, and the Secretaries of specified Federal departments.

Establishes the following policy committees within the Council: (1) the Transportation of Facilitation Policy Committee; (2) the Economic Development Policy Committee; (3) the Energy and Natural Resources Policy Committee; and (4) the Health, Education, and Cultural Policy Committee. Specifies the membership of each such committee from various Federal agencies.

Directs each Policy Committee to review and comment on Federal agency program and planning documents that will have a substantial effect on tourism, recreation and heritage resource preservation which are appropriate to the Committee's functional responsibilities and agency representation.

Directs the National Tourism Policy Council to submit annual reports to the President for transmittal to the Congress regarding: (1) the activities of the Council and its Policy Committees; (2) the results of Council efforts to coordinate the policies and programs of member agencies that have a significant effect on tourism, recreation, and national heritage preservation, resolve interagency conflicts, and develop areas of cooperative program activity; (3) an analysis of problems referred to the Council along with a detailed statement of actions taken or anticipated to be taken to resolve such problems; and (4) such recommendations as the Council deems appropriate.

Authorizes appropriations of $500,000 for fiscal year 1982 to carry out the provisions of this title.

Establishes the United States Travel and Tourism Development Corporation as a nonprofit corporation which shall not be an agency or establishment of the United States.

Stipulates that the primary purpose of the Corporation shall be to develop and administer a comprehensive tourism program designed to stimulate and encourage travel to the United States by residents of other countries. Prohibits the Corporation's activities from competing with the activities of any State, city, or private agency.

Requires the Corporation to submit annual reports to the President for transmittal to the Congress detailing the Corporation's operations, activities, financial condition, and accomplishments during the previous year. Requires annual audits of the Corporation to be included in such report.

Directs the Corporation to undertake a comprehensive study of the funding levels required to effectively implement a comprehensive tourism development program and all alternative funding measures (other than direct Treasury funding) and to report its findings to the President and the Congress within six months.

Authorizes appropriations of up to $9,500,000 to the Corporation for fiscal year 1982.

Transfers the functions, funds, powers, and liabilities of the United States Travel Service to the Corporation.

Amends the International Travel Act of 1961 to authorize appropriations for fiscal year 1982 for programs to stimulate travel to the United States.

Authorizes the Secretary of Commerce to provide financial assistance to a region of not less than two States to implement a regional tourism promotional and marketing program.

Prohibits the Secretary from reducing the number of employees or the funding of U.S. Travel Service offices in foreign countries below fiscal year 1979 levels.

Product Liability Risk Retention Act of 1980 - Title I: Risk Retention Groups - Directs the Secretary of Commerce to promulgate standards for the approval of risk retention groups. Defines such groups as corporations, or other limited liability associations taxable as corporations, whose principal activity consists of assuming and spreading all or any portion of the product liability or completed operations liability risk exposure of its group participants and which are organized, under the laws of a State, for the primary purpose of conducting such activity.

Sets forth factors to be included in a group's application for approval. Enumerates standards which the Secretary must consider in approving any such group, including the amount and liquidity of its assets, soundness of its reserves, adequacy of the expertise and experience of those responsible for its management, adequacy of its loss prevention programs and those of its group participants, and failure to disclose material facts of circumstances bearing on its qualifications.

Directs the Secretary to issue certificates of approval to applicant groups upon determination that such groups have sound plans of operation in accordance with standards promulgated by the Secretary. Requires any refusal of approval to specify the factual conclusions and legal authority upon which it is based. Requires that such certificates of approval or such written refusals be issued within 90 days after the date of the receipt of the application.

Sets forth limitations on the risk coverage afforded to any one person in the group. Authorizes the Secretary to waive such limitations upon determination that the group is likely to be financially sound and capable of shifting and distributing the risks of its group participants.

Authorizes the Secretary to conduct audits of the applicant and its group participants. Requires such applicants to permit and pay the reasonable costs of such audits or examinations.

Prohibits the Secretary from issuing a certificate of approval to any group which, as determined by the Secretary, would exclude any person from membership therein solely to provide its members a competitive advantage over the person excluded.

Authorizes the Secretary to require a group to set a maximum amount of risk which it will accept. Requires such a group's participants to obtain insurance for losses in excess of such maximum limitations. Establishes requirements for the terms of such insurance coverage.

Requires all or a portion of an individual's product liability or completed operations risk exposure be assumed by the group. Prohibits a group from assuming liability for any person other than its members or its members' affiliates. Permits a group to assume liability which arises from an agreement of hold harmless or indemnity between a member and its supplier, purchaser, or consignee. Prohibits a group from making non-pro-rata assessments or retroactive adjustments based on the loss experience of a member. Sets forth requirements concerning the return of a withdrawing member's capital contribution. Prohibits such groups from acquiring reinsurance from its members or affiliates.

Directs the Secretary to require each group to maintain reserves: (1) to meet incurred losses and loss adjustment expenses; and (2) for unearned premiums paid or to be paid to the group by its group participants. Requires that such reserves be invested prudently.

Requires each group to submit information on plan changes and annual reports to the Secretary. Directs the Secretary to ensure that other required reports do not constitute an undue burden upon groups.

Declares that this Act shall preempt any State law relating to the formation operation, or provision of insurance-services to risk retention groups. Stipulates that this Act shall not affect the authority of a State to tax risk retention groups. Directs the Secretary to promulgate regulations relating to claims settlement practices of such groups, taking into consideration State laws on such matters.

Applies Federal antitrust laws to such groups. Exempts the ownership interests of such groups from Federal securities laws.

Limits the use of information obtained pursuant to this Act. Permits the Secretary to require data concerning the product liability claims experience of such groups.

Authorizes the Secretary to audit each group and to require each group to engage an independent accountant to examine its books, records, and financial statements.

Requires each group to pay an application fee and annual fees to cover supervisory expenses of the Secretary. Establishes a revolving fund in the Treasury in which specified amounts received by the Secretary under this Act shall be deposited and which shall be available to the Secretary, without fiscal year limitation, to carry out this Act.

Authorizes the Secretary to revoke the certificate of approval of a risk retention group. Enumerates circumstances in which such authority may be exercised. Requires that any risk retention group whose certificate of approval is thus revoked: (1) shall commence dissolution proceedings under applicable State laws within 30 days; and (2) shall provide for the return of capital contributions. to its members in installments within three years.

Requires that all hearings to revoke a group's certificate of approval be held in the District of Columbia.

Empowers the United States District Court for the District of Columbia to hear appeals from orders of the Secretary issued pursuant to this Act.

Title II: Group Purchase of Product Liability Insurance and Completed Operations Liability Insurance - Exempts any group seeking to purchase liability insurance, its members, or any person who provides such insurance from any State law which restricts group insurance or would prohibit or discriminate against the application of this Act.

Title III: Miscellaneous Provisions - Declares that this Act shall not be deemed to affect State tort law.

Directs the Secretary to issue rules and regulations and to take all other actions necessary or appropriate to implement this Act.

Directs the Secretary to report to the appropriate committees of Congress on the implementation of this Act.

Declares that this Act shall take effect 180 days after the date of its enactment and that title I of this Act shall cease to be in effect on the date four years after the effective date of this Act, but only if there exists no approved risk retention group on such date.

Product Liability Risk Retention Act of 1980 - Title I: Risk Retention Groups - Directs the Secretary of Commerce to promulgate standards for the approval of risk retention groups. Defines such groups as corporations, or other limited liability associations taxable as corporations, whose principal activity consists of assuming and spreading all or any portion of the product liability or completed operations liability risk exposure of its group participants and which are organized, under the laws of a State, for the primary purpose of conducting such activity.

Sets forth factors to be included in a group's application for approval. Enumerates standards which the Secretary must consider in approving any such group, including the amount and liquidity of its assets, soundness of its reserves, adequacy of the expertise and experience of those responsible for its management, adequacy of its loss prevention programs and those of its group participants, and failure to disclose material facts of circumstances bearing on its qualifications.

Directs the Secretary to issue certificates of approval to applicant groups upon determination that such groups have sound plans of operation in accordance with standards promulgated by the Secretary. Requires any refusal of approval to specify the factual conclusions and legal authority upon which it is based. Requires that such certificates of approval or such written refusals be issued within 90 days after the date of the receipt of the application.

Sets forth limitations on the risk coverage afforded to any one person in the group. Authorizes the Secretary to waive such limitations upon determination that the group is likely to be financially sound and capable of shifting and distributing the risks of its group participants.

Authorizes the Secretary to conduct audits of the applicant and its group participants. Requires such applicants to permit and pay the reasonable costs of such audits or examinations.

Prohibits the Secretary from issuing a certificate of approval to any group which, as determined by the Secretary, would exclude any person from membership therein solely to provide its members a competitive advantage over the person excluded.

Authorizes the Secretary to require a group to set a maximum amount of risk which it will accept. Requires such a group's participants to obtain insurance for losses in excess of such maximum limitations. Establishes requirements for the terms of such insurance coverage.

Requires all or a portion of an individual's product liability or completed operations risk exposure be assumed by the group. Prohibits a group from assuming liability for any person other than its members or its members' affiliates. Permits a group to assume liability which arises from an agreement of hold harmless or indemnity between a member and its supplier, purchaser, or consignee. Prohibits a group from making non-pro-rata assessments or retroactive adjustments based on the loss experience of a member. Sets forth requirements concerning the return of a withdrawing member's capital contribution. Prohibits such groups from acquiring reinsurance from its members or affiliates.

Directs the Secretary to require each group to maintain reserves: (1) to meet incurred losses and loss adjustment expenses; and (2) for unearned premiums paid or to be paid to the group by its group participants. Requires that such reserves be invested prudently.

Requires each group to submit information on plan changes and annual reports to the Secretary. Directs the Secretary to ensure that other required reports do not constitute an undue burden upon groups.

Declares that this Act shall preempt any State law relating to the formation operation, or provision of insurance-services to risk retention groups. Stipulates that this Act shall not affect the authority of a State to tax risk retention groups. Directs the Secretary to promulgate regulations relating to claims settlement practices of such groups, taking into consideration State laws on such matters.

Applies Federal antitrust laws to such groups. Exempts the ownership interests of such groups from Federal securities laws.

Limits the use of information obtained pursuant to this Act. Permits the Secretary to require data concerning the product liability claims experience of such groups.

Authorizes the Secretary to audit each group and to require each group to engage an independent accountant to examine its books, records, and financial statements.

Requires each group to pay an application fee and annual fees to cover supervisory expenses of the Secretary. Establishes a revolving fund in the Treasury in which specified amounts received by the Secretary under this Act shall be deposited and which shall be available to the Secretary, without fiscal year limitation, to carry out this Act.

Authorizes the Secretary to revoke the certificate of approval of a risk retention group. Enumerates circumstances in which such authority may be exercised. Requires that any risk retention group whose certificate of approval is thus revoked: (1) shall commence dissolution proceedings under applicable State laws within 30 days; and (2) shall provide for the return of capital contributions, as determined by the Secretary, to its members in installments within three years.

Requires that all hearings to revoke a group's certificate of approval be held in the District of Columbia.

Empowers the United States District Court for the District of Columbia to hear appeals from orders of the Secretary issued pursuant to this Act.

Title II: Group Purchase of Product Liability Insurance and Completed Operations Liability Insurance - Exempts any group seeking to purchase liability insurance, its members, or any person who provides such insurance from any State law which restricts group insurance or would prohibit or discriminate against the application of this Act.

Title III: Miscellaneous Provisions - Declares that this Act shall not be deemed to affect State tort law.

Directs the Secretary to issue rules and regulations and to take all other actions necessary or appropriate to implement this Act.

Directs the Secretary to report to the appropriate committees of Congress on the implementation of this Act.

Declares that this Act shall take effect 180 days after the date of its enactment and that title I of this Act shall cease to be in effect on the date four years after the effective date of this Act, but only if there exists no approved risk retention group on such date.

Product Liability Risk Retention Act of 1979 - Title I: Risk Retention Groups - Directs the Secretary of Commerce to promulgate standards for the approval of risk retention groups. Defines such groups as corporations, or other limited liability associations taxable as corporations, whose principal activity consists of assuming and spreading all or any portion of the product liability or completed operations liability risk exposure of its group participants and which are organized, under the laws of a State, for the primary purpose of conducting such activity.

Sets forth factors to be included in a group's application for approval. Enumerates Standards which the Secretary must consider in approving any such group, including the amount and liquidity of its assets, soundness of its reserves, adequacy of the expertise and experience of those responsible for its management, adequacy of its loss prevention programs and those of its group participants, and failure to disclose material facts of circumstances bearing on its qualifications.

Sets forth limitations on the risk coverage afforded to any one person in the group.

Authorizes the Secretary to waive such limitations upon determination that the group is likely to be financially sound and capable of shifting and distributing the risks of its group participants.

Directs the Secretary to issue certificates of approval to applicant groups upon determination that such groups have sound plans of operation in accordance with standards promulgated by the Secretary. Requires any refusal of approval to specify the factual conclusions and legal authority upon which it is based.

Authorizes the Secretary to conduct audits of the applicant and its group participants.

Authorizes the Secretary to require a group to set a maximum amount of risk which it will accept. Requires such a group's participants to obtain insurance for losses in excess of such maximum limitations. Establishes requirements for the terms of such insurance coverage.

Requires all or a portion of an individual's product liability or completed operations risk exposure be assumed by the group. Prohibits a group from assuming liability for any person other than its members or its members' affiliates. Permits a group to assume liability which arises from an agreement of hold harmless or indemnity between a member and its supplier, purchaser, or consignee. Prohibits a group from making non-pro-rata assessments or retroactive adjustments based on the loss experience of a member. Sets forth requirements concerning the return of a withdrawing member's capital contribution. Prohibits such groups from acquiring reinsurance from its members or affiliates.

Directs the Secretary to requires each group to maintain reserves: (1) to meet incurred losses and loss adjustment expenses; and (2) for unearned premiums paid or to be paid to the group by its group participants. Requires that such reserves be invested prudently.

Requires each group to submit information on plan changes and annual reports to the Secretary. Directs the Secretary to ensure that other required reports do not constitute as undue burden upon groups.

Declares that this Act shall preempt any State law relating to the formation operation, or provision of insurance-services to risk retention groups. Stipulates that this Act shall not effect the authority of a State to tax risk retention groups. Directs the Secretary to promulgate regulations relating to claims settlement practices of such groups and to consumer protection taking into consideration State laws on such matters.

Applies Federal antitrust laws to such groups. Exempts the ownership interests of such groups from the securities laws.

Limits the use of information obtained pursuant to this Act. Permits the Secretary to require data concerning the product liability claims experience of such groups.

Authorizes the Secretary to audit each group and to require each group to engage an independent accountant to examine its books, records, and financial statements.

Requires each group to pay an application fee and annual fees to cover supervisory expenses of the Secretary.

Authorizes the Secretary to revoke the certificate of approval of a risk retention group. Enumerates circumstances in which such authority may be exercised.

Requires that all hearings to revoke a group's certificate of approval be held in the District of Columbia.

Empowers the United States District Court for the District of Columbia to hear appeals from orders of the Secretary issued pursuant to this Act.

Title II: Group Purchase of Product Liability Insurance and Completed Operations Insurance - Exempts any group seeking to purchase liability insurance, its members, or any person who provides such insurance from any State law which restricts groups insurance or would prohibit or discriminate against the application of this Act.

Title III: Miscellaneous Provisions - Declares that this Act shall not be deemed to affect State tort law.

Directs the Secretary to issue rules and regulations and to take all other actions necessary or appropriate to implement this Act.

Directs the Secretary to report to the appropriate committees of Congress on the implementation of this Act.