Domestic Volunteer Service Act Amendments of 1986

[AI summary unavailable — showing source text] Domestic Volunteer Service Act Amendments of 1986 - Amends the Domestic Volunteer Service Act of 1973 (the Act) to set forth a volunteerism policy for ACTION, the Federal domestic volunteer agency. Revises provisions for Foster Grandparent Programs and for the Senior Companion Program to allow individuals who are not low-income persons to serve as nonstipend volunteers in such programs under specified conditions. Authorizes the ACTION Director (the Director) to: (1) accept in the name of ACTION funds received through solicitation of profit and nonprofit entities; and (2) employ or dispose of such funds for purposes of the Act. Requires that all such funds become part of the gift fund account of ACTION. Requires the Director to assure that a majority of the aggregate amount in each fiscal year of all unrestricted gifts to ACTION will be spent to support volunteer projects at the community level. Establishes in ACTION a National Voluntary Service Advisory Council to: (1) advise the Director with respect to policy matters arising in the administration of the Act; and (2) at the Director's request, review the effectiveness and operation of programs under the Act and make appropriate re…