Limitation on Government Recordkeeping Requirements Act of 1980

[AI summary unavailable — showing source text] Limitation on Government Recordkeeping Requirements Act of 1980 - Prohibits any Federal agency from: (1) requiring any person to maintain, prepare, or produce any record (other than a record relating to a dangerous material) of an event after five years have expired since the event occurred; and (2) commencing an action against a person who violated a regulation if five years or more have expired since such violation occurred, except as otherwise provided by the Internal Revenue Code. Declares that this Act shall not apply in any case involving: (1) fraud; (2) a willfull or knowing violation; (3) a false statement of fact made to an agency; or (4) the omission of information necessary to make a statement not misleading.…