Datasets:

dreamproit

/

bill_labels_us

like 5

[ { "text": "That Congress— (1) recognizes and celebrates the abolition of slavery more than 150 years ago in the Latin American countries of Mexico, Chile, Uruguay, Bolivia, Colombia, Ecuador, Argentina, Peru, and Venezuela; (2) recognizes the social, political, and cultural contributions of enslaved blacks and their descendants in Latin America; (3) acknowledges the impact of slavery and the existence of racial discrimination that have led to disparate social conditions and lack of civil liberties in Latin America; (4) urges the United States Government to work with the governments of Latin American countries to promote the visibility of the descendants of enslaved blacks in such countries and to recognize the importance of supporting international and regional efforts to eliminate racial and ethnic discrimination, such as the International Convention on the Elimination of All Forms of Racial Discrimination (signed at New York on December 21, 1965); and (5) urges the countries of Latin America to work with the United States and the international community to assist in addressing poverty and other targets in accordance with the United Nations Millennium Development Goals (as contained in United Nations General Assembly Resolution 55/2 (September 2000)).", "id": "H7AE088A6C5384E7BADF6F9B212F6C170", "header": null, "nested": [], "links": [] } ]

[ "Argentina", "Blacks", "Bolivia", "Chile", "Civil Rights and Liberties, Minority Issues", "Colombia", "Congress", "Congressional tributes", "Ecuador", "Ethnic relations", "Human rights", "Latin America", "Mexico", "Minorities", "Peru", "Poverty", "Racial discrimination", "Slavery", "Social Welfare", "Treaties", "United Nations", "Uruguay", "Venezuela" ]

[ { "text": "That Congress— (1) denounces the horrific killings of Margaret Hassan, the Iraqi head of CARE International’s Iraq operations, and Dutch filmmaker Theo van Gogh as acts of terrorism and condemns all such monstrous acts committed in the name of Islam; (2) strongly urges Muslim countries and leading clerics and practitioners of the Islamic faith to take the lead in denouncing, marginalizing, and thwarting the violence committed in the name of Islam against unarmed and helpless victims; (3) similarly calls on people of all faiths to denounce such barbarous acts committed against Muslims; and (4) strongly encourages the Government of the Kingdom of Saudi Arabia to deny access to Islamic holy sites in Saudi Arabia both to individuals who are members of organizations that have taken credit for, and to individuals who have committed, any crime or act of terrorism, barbarism, or mutilation in the name of Islam.", "id": "HDD20B1695FA64AD39F1B78C87CBED08F", "header": null, "nested": [], "links": [] } ]

[ "Arts, Culture, Religion", "Assault", "Charities", "Clergy", "Crime and Law Enforcement", "EBB Terrorism", "Europe", "Iraq", "Iraq compilation", "Islam", "Islamic countries", "Islamic fundamentalism", "Middle East and North Africa", "Motion pictures", "Murder", "Muslims", "Netherlands", "Nongovernmental organizations", "Political violence", "Religion", "Saudi Arabia", "Social Welfare", "Terrorism", "Victims of crimes" ]

[ { "text": "That it is the sense of the Congress that— (1) a commemorative postage stamp should be issued by the United States Postal Service in honor of Matthew Lyon; and (2) the Citizens’ Stamp Advisory Committee should recommend to the Postmaster General that such a stamp be issued.", "id": "HA5D9DFA5E445465294299D86A77973CF", "header": null, "nested": [], "links": [] }, { "text": "", "id": "H8E6232A0013E49AF9D3321F225307DBB", "header": null, "nested": [], "links": [] } ]

[ "American Revolution", "Arts, Culture, Religion", "Authors and authorship", "Civil Rights and Liberties, Minority Issues", "Congress", "Ex-Members of Congress", "Freedom of speech", "Government Operations and Politics", "History", "Postage stamps", "Vermont" ]

[ { "text": "That it is the sense of Congress that the United States Air Force should continue to honor and learn from the example provided by the Tuskegee Airmen as it faces the challenges of the 21st century and the war on terror.", "id": "H9342CAAF7E8C40AE9C2D4922D4DB231D", "header": null, "nested": [], "links": [] } ]

[ "Air force", "Armed Forces and National Security", "Blacks", "Congress", "Congressional tributes", "History", "Military history", "Minorities", "World War II" ]

[ { "text": "That", "id": "H49D72074EABE488684FD6CB8D43181E4", "header": null, "nested": [], "links": [] }, { "text": "the Congress— (1) acknowledges and welcomes the strong relationship formed between the United States and Ukraine since the restoration of Ukraine’s independence in 1991; (2) recognizes that a precondition for the full integration of Ukraine into the Western community of nations, including as an equal member in institutions such as the North Atlantic Treaty Organization (NATO), is its establishment of a genuinely democratic political system; (3) expresses its strong and continuing support for the efforts of the Ukrainian people to establish a full democracy, the rule of law, and respect for human rights in Ukraine; (4) urges the Government of Ukraine to guarantee freedom of association and assembly, including the right of candidates, members of political parties, and others to freely assemble, to organize and conduct public events, and to exercise these and other rights free from intimidation or harassment by local or national officials or others acting at their behest; (5) urges the Government of Ukraine to meet its Organization for Security and Cooperation in Europe (OSCE) commitments on democratic elections and to address issues previously identified by the Office of Democratic Institutions and Human Rights (ODIHR) of the OSCE in its final reports on the 2002 parliamentary elections and the 1999 presidential elections, such as illegal interference by public authorities in the campaign and a high degree of bias in the media; (6) urges the Ukrainian authorities to ensure— (A) the full transparency of election procedures before, during, and after the 2004 presidential elections; (B) free access for Ukrainian and international election observers; (C) multiparty representation on all election commissions; (D) unimpeded access by all parties and candidates to print, radio, television, and Internet media on a non-discriminatory basis; (E) freedom of candidates, members of opposition parties, and independent media organizations from intimidation or harassment by government officials at all levels via selective tax audits and other regulatory procedures, and in the case of media, license revocations and libel suits, among other measures; (F) a transparent process for complaint and appeals through electoral commissions and within the court system that provides timely and effective remedies; and (G) vigorous prosecution of any individual or organization responsible for violations of election laws or regulations, including the application of appropriate administrative or criminal penalties; (7) further calls upon the Government of Ukraine to guarantee election monitors from the ODIHR, other participating States of the OSCE, Ukrainian political parties, candidates’ representatives, nongovernmental organizations, and other private institutions and organizations, both foreign and domestic, unobstructed access to all aspects of the election process, including unimpeded access to public campaign events, candidates, news media, voting, and post-election tabulation of results and processing of election challenges and complaints; and (8) pledges its enduring support and assistance to the Ukrainian people’s establishment of a fully free and open democratic system, their creation of a prosperous free market economy, their establishment of a secure independence and freedom from coercion, and their country’s assumption of its rightful place as a full and equal member of the Western community of democracies.", "id": "H3C7A4B4C7D86495685DBF5643D5BC65C", "header": null, "nested": [], "links": [] } ]

[ "Administration of justice", "Appellate procedure", "Civil Rights and Liberties, Minority Issues", "Commerce", "Crime and Law Enforcement", "Democracy", "Election administration", "Election candidates", "Europe", "Free enterprise", "Freedom of association", "Freedom of the press", "Government Operations and Politics", "Grievance procedures", "Human rights", "International agencies", "Internet", "Law", "Libel and slander", "Licenses", "Mass media", "NATO countries", "Nongovernmental organizations", "Opposition (Political science)", "Political advertising", "Political parties", "Political persecution", "Political violence", "Press and politics", "Prosecution", "Radio", "Rule of law", "Science, Technology, Communications", "Tax auditing", "Taxation", "Television", "Ukraine" ]

[ { "text": "That the Congress— (1) supports the goals and ideals of National Preparedness Month; (2) supports the designation of National Preparedness Month; and (3) urges the Federal Government, States, localities, schools, nonprofit organizations, businesses, other entities, and the people of the United States to observe National Preparedness Month with appropriate events and activities that promote citizen and community preparedness for terrorist attacks and other emergencies.", "id": "HF486B3E65E944F0E9B33DDB8C64706AB", "header": null, "nested": [], "links": [] } ]

[ "Citizen participation", "Crime and Law Enforcement", "EBB Terrorism", "Emergency Management", "Government Operations and Politics", "Special months", "Terrorism" ]

[ { "text": "That it is the sense of Congress that— (1) the United States should formally withdraw from the United Nations Educational, Scientific, and Cultural Organization (UNESCO); and (2) any funds appropriated as of the date of the adoption of this resolution for use towards the contribution of the United States to UNESCO, but not yet transferred to UNESCO, should be returned to the Treasury of the United States.", "id": "HDD12D976652841EDBA4175637337D47D", "header": null, "nested": [], "links": [] } ]

[ "Appropriations", "Economics and Public Finance", "International agencies", "United Nations", "United Nations finances" ]

[ { "text": "That", "id": "HDB5204F17EC74E1DA807662D164CC175", "header": null, "nested": [], "links": [] }, { "text": "Congress commends The Garden Club of America for the many contributions it has made in our Nation’s capital and in communities across America, and sends its best wishes on the occasion of its 91st annual meeting in Washington, DC, on April 24 through 27, 2004.", "id": "H6A606FD316DC404E99C2265FF1F95EB", "header": null, "nested": [], "links": [] } ]

[ "Agriculture and Food", "Associations, institutions, etc.", "Conferences", "Congress", "Congressional tributes", "District of Columbia", "Gardening" ]

[ { "text": "That Congress— (1) supports the goals and ideals of National Purple Heart Recognition Day; (2) encourages all Americans to learn about the history of the Purple Heart and to honor its recipients; and (3) requests that the President issue a proclamation calling on the people of the United States to conduct appropriate ceremonies, activities, and programs to demonstrate support for people who have been awarded the Purple Heart.", "id": "H197BA0AC3BFD4B5192C9376F12BD007B", "header": null, "nested": [], "links": [] } ]

[ "Armed Forces and National Security", "Military medals, decorations, etc.", "Special days", "War casualties" ]

[ { "text": "That the Congress— (1) reaffirms the policies and principles of the McCarran Amendment that have been recognized by Supreme Court decisions and recognizes that, as a matter of practice, the United States should adhere and defer to State water law; and (2) commends Western States that maintain comprehensive systems for the quantification of rights to use water for all beneficial purposes, including environmental protection and enhancement.", "id": "H0C0F4054914943B6903846E0E6D600F9", "header": null, "nested": [], "links": [] } ]

[ "Commemorations", "Congress", "Congressional tributes", "Environmental Protection", "Federal-state relations", "Government Operations and Politics", "Government liability", "Legislation", "State laws", "Supreme Court decisions", "Water Resources Development", "Water rights", "Water use", "West (U.S.)" ]

[ { "text": "That it is the sense of Congress that the United States must commit all necessary resources to encourage growth in the number of family farms, to develop and fully fund programs that facilitate a return of family farmers to the land, to ensure that farmers receive an income adequate to covering cost of production plus a fair profit for food, fiber, and biofuel producers, to make foreign trade policy that is consistent with these aims, and to protect the efforts of farmers themselves to organize for their economic viability.", "id": "HEF7F3CA6BA4E4C2195C0CED0DEEE7503", "header": null, "nested": [], "links": [] } ]

[ "Agricultural cooperatives", "Agriculture in foreign trade", "Family farms", "Farm income", "Farmers", "Foreign Trade and International Finance", "International Affairs", "Marketing of farm produce" ]

[ { "text": "That— (1) it is the sense of the Congress that music education grounded in rigorous instruction is an important component of a well-rounded academic curriculum and should be available to every student in every school; and (2) the Congress recognizes the International Music Products Association for its efforts to designate a Music Education Month in order to highlight the important role that school music programs play in the academic and social development of children.", "id": "H4EB8FB3A68354689917449B775404C7B", "header": null, "nested": [], "links": [] }, { "text": "", "id": "H358D3E15561C47ECBEBE349C10159BF7", "header": null, "nested": [], "links": [] } ]

[ "Arts, Culture, Religion", "Associations, institutions, etc.", "Child development", "Commemorations", "Congress", "Congressional tributes", "Curricula", "Elementary and secondary education", "Elementary education", "Families", "Higher education", "Music", "Secondary education", "Special months" ]

[ { "text": "That it is the sense of the Congress that rates of compensation for civilian employees of the United States should be adjusted at the same time, and in the same proportion, as are rates of compensation for members of the uniformed services.", "id": "HE7B2B272A06542D08076E26CE3FEF44", "header": null, "nested": [], "links": [] } ]

[ "Armed Forces and National Security", "Federal employees", "Military pay", "Salaries" ]

[ { "text": "That Congress— (1) congratulates the University of Denver men’s hockey team for winning the 2004 NCAA men’s hockey national championship; (2) recognizes the achievements of all the team’s players, coaches, and support staff and invites them to the United States Capitol Building to be honored; (3) requests that the President recognize the achievements of the University of Denver men’s hockey team and invite the team members to the White House for an appropriate ceremony honoring a national championship team; and (4) directs the Clerk of the House of Representatives to make available to the University of Denver enrolled copies of this resolution for appropriate display and to transmit an enrolled copy of this resolution to each coach and member of the 2004 NCAA men’s hockey national championship team.", "id": "H1B567796F9E54E5292B7F63447088900", "header": null, "nested": [], "links": [] }, { "text": "", "id": "HF099927D1BD242418B7FBD40C05801B9", "header": null, "nested": [], "links": [] } ]

[ "Athletes", "Capitol (Washington, D.C.)", "College sports", "Colorado", "Congress", "Congressional tributes", "Education", "Government Operations and Politics", "Higher education", "Hockey", "Sports and Recreation", "White House (Washington, D.C.)" ]

[ { "text": "That the Congress— (1) commends the Poppenhusen Institute and the College Point community for establishing the first free kindergarten in the United States; and (2) supports the strong beginning provided by kindergartens across the United States to the Nation’s children.", "id": "HDA29481EE51649549FE6C941ED742BA0", "header": null, "nested": [], "links": [] }, { "text": "", "id": "H64A85EB8B9EC4807AE55CC67267BE4F", "header": null, "nested": [], "links": [] } ]

[ "Congress", "Congressional tributes", "Education", "Elementary and secondary education", "Elementary education", "New York State" ]

[ { "text": "", "id": "H33C54FBD20414395B200C6DE242545D8", "header": null, "nested": [], "links": [] }, { "text": "", "id": "HB38C29BA991D490CBEEB070086FD92DF", "header": null, "nested": [], "links": [] }, { "text": "1. Use of Capitol Grounds for national peace officers’ memorial service \n(a) In general \nThe National Fraternal Order of Police and its auxiliary (in this resolution referred to as the sponsor ) shall be permitted to sponsor a public event, the 22nd annual National Peace Officers’ Memorial Service (in this resolution jointly referred to as the event ), on the Capitol Grounds, in order to honor the law enforcement officers who died in the line of duty during 2003. (b) Date of event \nThe event shall be held on May 15, 2004, or on such other date as the Speaker of the House of Representatives and the Committee on Rules and Administration of the Senate jointly designate.", "id": "H85FFBC665D294DFFBCC1CA80B439E500", "header": "Use of Capitol Grounds for national peace officers’ memorial service", "nested": [ { "text": "(a) In general \nThe National Fraternal Order of Police and its auxiliary (in this resolution referred to as the sponsor ) shall be permitted to sponsor a public event, the 22nd annual National Peace Officers’ Memorial Service (in this resolution jointly referred to as the event ), on the Capitol Grounds, in order to honor the law enforcement officers who died in the line of duty during 2003.", "id": "HF9C228B5DEE246B69B39134B3B70BE36", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Date of event \nThe event shall be held on May 15, 2004, or on such other date as the Speaker of the House of Representatives and the Committee on Rules and Administration of the Senate jointly designate.", "id": "H45A7DB5C1BB3439683E6B949F41212A", "header": "Date of event", "nested": [], "links": [] } ], "links": [] }, { "text": "2. Terms and conditions \n(a) In general \nUnder conditions to be prescribed by the Architect of the Capitol and the Capitol Police Board, the event shall be— (1) free of admission charge and open to the public; and (2) arranged not to interfere with the needs of Congress. (b) Expenses and liabilities \nThe sponsor shall assume full responsibility for all expenses and liabilities incident to all activities associated with the event.", "id": "H77CC18E88B774725827EF0FA78ACA1D", "header": "Terms and conditions", "nested": [ { "text": "(a) In general \nUnder conditions to be prescribed by the Architect of the Capitol and the Capitol Police Board, the event shall be— (1) free of admission charge and open to the public; and (2) arranged not to interfere with the needs of Congress.", "id": "H35A66995901247E99B3636DC85C8EFF", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Expenses and liabilities \nThe sponsor shall assume full responsibility for all expenses and liabilities incident to all activities associated with the event.", "id": "HC22BA84C648A4ACE87A100E44EA94C0", "header": "Expenses and liabilities", "nested": [], "links": [] } ], "links": [] }, { "text": "3. Event preparations \nSubject to the approval of the Architect of the Capitol, the sponsor is authorized to erect upon the Capitol Grounds such stage, sound amplification devices, and other related structures and equipment, as may be required for the event.", "id": "H602AA5AB18D44A1FBD04A1D38CAB192D", "header": "Event preparations", "nested": [], "links": [] }, { "text": "4. Enforcement of restrictions \nThe Capitol Police Board shall provide for enforcement of the restrictions contained in section 5104(c) of title 40, United States Code, concerning sales, advertisements, displays, and solicitations on the Capitol Grounds, as well as other restrictions applicable to the Capitol Grounds, in connection with the event.", "id": "H9A702DC0A976438CBA1853DFCABF784D", "header": "Enforcement of restrictions", "nested": [], "links": [ { "text": "section 5104(c)", "legal-doc": "usc", "parsable-cite": "usc/40/5104" } ] } ]

[ "Capitol (Washington, D.C.)", "Commemorations", "Crime and Law Enforcement", "Law enforcement officers", "Monuments and memorials", "Police", "Public Lands and Natural Resources" ]

[ { "text": "That Congress honors the members of the Army Motor Transport Service that served during World War II and participated in the trucking operation known as the Red Ball Express for their service and contribution to the Allied advance following the D-Day invasion.", "id": "H03DAF54776304FB6B79185C20076F51B", "header": null, "nested": [], "links": [] } ]

[ "Armed Forces and National Security", "Army", "Blacks", "Congress", "Congressional tributes", "History", "Military personnel", "Military transportation", "Minorities", "Transportation and Public Works", "Trucking", "World War II" ]

[ { "text": "That it is the sense of the Congress that the United States flag flown over the United States Capitol should be lowered to half-mast one day each month in honor of the brave men and women from the United States who have lost their lives in military conflicts.", "id": "H8E75BEA1F6E449FAB57812472258A204", "header": null, "nested": [], "links": [] } ]

[ "Armed Forces and National Security", "Capitol (Washington, D.C.)", "Congress", "Congressional tributes", "Flags", "Iraq compilation", "War casualties" ]

[ { "text": "That Congress urges the President to issue a proclamation calling upon the people of the United States to annually observe Patriot Day, September 11, with appropriate and personal expressions of voluntary service, charity, and compassion toward others which honor the lives lost on that day, and embrace the spirit of selflessness and unity demonstrated by the efforts of those who participated in the rescue, recovery, and voluntary service activities.", "id": "H160216E6C8A1452594C6D6DD546CA819", "header": null, "nested": [], "links": [] } ]

[ "Charities", "Crime and Law Enforcement", "EBB Terrorism", "September 11, 2001", "Social Welfare", "Special days", "Terrorism", "Volunteer workers" ]

[ { "text": "That the Congress— (1) supports the designation, during spring 2005, of National Horticultural Therapy Week in order to improve the quality of life for all and increase opportunities for each individual to positively connect with the natural world; and (2) urges Federal and State governmental entities and the people of the United States to observe such Week with appropriate ceremonies and activities.", "id": "H0B2132A7458C4F6FA644D200695646E3", "header": null, "nested": [], "links": [] } ]

[ "Agriculture and Food", "Gardening", "Horticulture", "Quality of life", "Special weeks" ]

[ { "text": "1. Authorization of printing \n(a) In General \nThere shall be printed as a House document the book entitled History of the United States Capitol by Glenn Brown, as prepared under the auspices of the Architect of the Capitol with support from the United States Capitol Preservation Commission and the United States Capitol Historical Society. (b) Specifications \nThe document described in subsection (a) shall include illustrations and shall be in the style, form, manner, and binding as directed by the Joint Committee on Printing after consultation with the Clerk of the House of Representatives and the Secretary of the Senate.", "id": "H310E7749075B488B89AAC2E7C41ECA4D", "header": "Authorization of printing", "nested": [ { "text": "(a) In General \nThere shall be printed as a House document the book entitled History of the United States Capitol by Glenn Brown, as prepared under the auspices of the Architect of the Capitol with support from the United States Capitol Preservation Commission and the United States Capitol Historical Society.", "id": "HD32D181A8FCF422A9B80EABF16F3EFA4", "header": "In General", "nested": [], "links": [] }, { "text": "(b) Specifications \nThe document described in subsection (a) shall include illustrations and shall be in the style, form, manner, and binding as directed by the Joint Committee on Printing after consultation with the Clerk of the House of Representatives and the Secretary of the Senate.", "id": "HA255D713010448E48C4955F1A92FAA43", "header": "Specifications", "nested": [], "links": [] } ], "links": [] }, { "text": "2. Number of Copies \nIn addition to the usual number, there shall be printed for the use of the House of Representatives and Senate the lesser of— (1) 7,000 copies of the document described in section 1(a), to be allocated as determined jointly by the Clerk of the House of Representatives and the Secretary of the Senate; or (2) such maximum number of copies of the document as does not have a total production and printing cost of more than $182,000, with distribution to be allocated as described in paragraph (1).", "id": "H42184CBA63DE42BF893419C580F98EFE", "header": "Number of Copies", "nested": [], "links": [] } ]

[ "Arts, Culture, Religion", "Books", "Capitol (Washington, D.C.)", "Congressional publications", "Government Operations and Politics", "History", "House of Representatives", "Members of Congress" ]

[ { "text": "That the Congress— (1) recognizes the 40th anniversary of the founding of the Mississippi Freedom Democratic Party and the Party’s accomplishments at the 1964 Democratic National Convention; and (2) encourages the people of the United States to recognize the accomplishments of the Mississippi Freedom Democratic Party by committing themselves to the fundamental principles of freedom, equality, and democracy.", "id": "H1C8044EB364C4D6AB6E67ECA16A6545C", "header": null, "nested": [], "links": [] } ]

[ "Anniversaries", "Civil Rights and Liberties, Minority Issues", "Civil rights movements", "Civil rights workers", "Democracy", "Democratic Party", "Government Operations and Politics", "Minorities", "Mississippi", "Political conventions", "Political parties", "Racial discrimination", "Voting rights" ]

[ { "text": "", "id": "HF7F1B587F53E42FE9200B9AC86DD68FD", "header": null, "nested": [], "links": [] }, { "text": "That— (1) the Congress recognizes and honors the 50th anniversary of the Supreme Court decision in Brown v. Board of Education of Topeka; (2) the Congress encourages all people of the United States to recognize the importance of the Supreme Court decision in Brown v. Board of Education of Topeka; and (3) by celebrating the 50th anniversary of the Brown v. Board of Education of Topeka, the Nation will be able to refresh and renew the importance of equality in society.", "id": "HAE70D08550B74C07AB19B5DD21F7B25E", "header": null, "nested": [], "links": [] } ]

[ "Anniversaries", "Civil Rights and Liberties, Minority Issues", "Congress", "Congressional tributes", "Desegregation in education", "Education", "Elementary and secondary education", "Higher education", "History", "Law", "Supreme Court decisions" ]

[ { "text": "That Congress— (1) congratulates Jimmy Haywood and Kenny Roy for setting world records in civil aviation history; and (2) commends the Aerosquad After School Program at Tomorrow’s Aeronautical Museum in Compton, California, as well as other youth aviation programs that encourage young minorities to enter the field of civil aviation.", "id": "HCB504E49A453486E963CE3BD55480334", "header": null, "nested": [], "links": [] } ]

[ "Aircraft pilots", "Arts, Culture, Religion", "Blacks", "California", "Congress", "Congressional tributes", "Education", "Elementary and secondary education", "Families", "Flight training", "Labor and Employment", "Minorities", "Minority education", "Museums", "Secondary education", "Transportation and Public Works" ]

[ { "text": "That Congress— (1) supports the goals and ideals of National Computer Security Awareness Month; and (2) should work with Federal agencies, national organizations, businesses, and educational institutions to encourage the implementation and development of existing and future computer security standards, practices, and technologies in order to enhance the state of computer security in the United States.", "id": "HE1D6FF4CCCA04BCB81CE66F92438E052", "header": null, "nested": [], "links": [] } ]

[ "Computer security measures", "Science, Technology, Communications", "Special months" ]

[ { "text": "That Congress— (1) supports the long quest for peace, justice, and prosperity of the people of the Republic of Haiti; (2) implores all sides involved in Haiti’s current political crisis to rely on dialogue and negotiations to affect political change; (3) calls on Haitian President Aristide to announce early elections that will serve democracy, the Haitian Constitution, and give a voice to all the people; (4) commends the Haitian communities in exile for continuing to strive for peace and democracy in Haiti, sustaining families in Haiti that are unable to survive economically with financial remittances, and for providing steadfast advocacy for Haiti; (5) calls on the United States Government to— (A) assume a leadership role in the international community to end the violence in Haiti and assist with a subsequent peace agreement, to provide for political transition and establishment of a sustainable democracy with good governance in Haiti, and establish an economic reconstruction processes for Haiti; and (B) play a strong and proactive role in developing peace and reconciliation initiatives in furtherance of an enduring solution to the on-going crisis in Haiti; (6) calls on the Secretary of State to— (A) request a special session of the United Nations General Assembly to consider whether the United Nations should organize a peace-building mission to Haiti; (B) provide leadership and participate in negotiations; and (C) seek, through diplomacy and negotiations, an accord that ends the conflict in Haiti, bringing peace to its people, and establishing an environment conducive to the maintenance of regional security, political stability, democracy and governance, the observation of human rights, and the pursuit of economic growth, development and trade; (7) calls on the Secretary of Defense to play a lead role in establishing and, if necessary, deploying an international stabilization force to Haiti; (8) requests the Administrator of the United States Agency for International Development (USAID) to— (A) commit to providing humanitarian assistance to the people of Haiti to save lives, alleviate suffering, and mitigate the impact of the emergency situations emerging from the crisis, including providing emergency food, supplies, and commodities; and (B) coordinate relief efforts with national and international nongovernmental organizations and other donors; (9) urges the international community to— (A) provide support for peacekeeping operations in Haiti to end the violence, achieve peace, and restore stability; and (B) support humanitarian efforts to meet the urgent and dire needs of the Haitian people and to consult and cooperate closely with the appropriate Haitian leaders and civil society representatives as well as other governments and international organizations; and (10) urges the United Nations to— (A) to adopt a resolution to establish a United Nations mission for Haiti that will work to establish and ensure a long-term peace in Haiti; and (B) to deploy a peacekeeping and human rights presence in Haiti in order to develop and implement a plan that measurably builds the capacity of the Government of Haiti to respond to and meet the rights of its citizens, including, the right to health, water, education, life, security of person, and due process.", "id": "H168F6B308A274BDD95EC539DEC168CCF", "header": null, "nested": [], "links": [] } ]

[ "Agriculture and Food", "Armed Forces and National Security", "Caribbean area", "Civil Rights and Liberties, Minority Issues", "Commemorations", "Congress", "Congressional tributes", "Democracy", "Economic assistance", "Economic development", "Economic growth", "Economics and Public Finance", "Food relief", "Foreign Trade and International Finance", "Foreign leaders", "Government Operations and Politics", "Haiti", "Haiti compilation", "Haitians", "Human rights", "Insurgency", "International agencies", "International cooperation", "International military forces", "International relief", "Latin America", "Law", "Nongovernmental organizations", "Peace", "Peace negotiations", "Peace treaties", "Peacekeeping forces", "Political violence", "United Nations" ]

[ { "text": "That it is the sense of Congress that the Secretary of Defense, Federal banking agencies, the National Credit Union Administration, and the Federal Trade Commission should work to mitigate the financial hardships experienced by the members of the reserve component as a direct result of being called to active duty, including issuing guidance and rules that allow for the consideration of appropriate deferral of home loans by financial institutions.", "id": "H01704014F18542AF9C66F21359231948", "header": null, "nested": [], "links": [] } ]

[ "Administrative procedure", "Armed forces reserves", "Department of Defense", "Department of the Treasury", "Federal Deposit Insurance Corporation", "Federal Reserve System", "Federal Trade Commission", "Finance and Financial Sector", "Government Operations and Politics", "Government corporations", "Housing and Community Development", "Independent regulatory commissions", "Law", "Mortgage banks", "Mortgages", "National Credit Union Administration" ]

[ { "text": "That the Congress— (1) recognizes and supports the goals and ideals of Life Insurance Awareness Month ; and (2) requests the President to issue a proclamation calling on the Federal Government, States, localities, schools, nonprofit organizations, businesses, other entities, and the people of the United States to observe Life Insurance Awareness Month with appropriate programs and activities.", "id": "H4C6F9931FD014B4FADA400CECA13435F", "header": null, "nested": [], "links": [] } ]

[ "Finance and Financial Sector", "Life insurance", "Special months" ]

[ { "text": "That Congress— (1) supports the goals and ideals of Melanoma/Skin Cancer Detection and Prevention Month and Melanoma Day; and (2) urges the people of the United States to protect themselves from the dangers of ultraviolet exposure, to conduct a regular self-examination of the skin to detect changes in its appearance, and to obtain an annual skin cancer screening.", "id": "H0D5E4EDBE2804468AE3BC22B37251897", "header": null, "nested": [], "links": [] } ]

[ "Environmental Protection", "Health", "Medical screening", "Medical tests", "Physical examinations", "Preventive medicine", "Self-care", "Skin cancer", "Special days", "Special months", "Ultraviolet radiation" ]

[ { "text": "That the Congress supports the goals and ideals of National Volunteer Blood Donor Month.", "id": "HD544DA5B34F044D8A99171E3E07224F1", "header": null, "nested": [], "links": [] } ]

[ "Blood", "Donation of organs, tissues, etc.", "Health", "Special months" ]

[ { "text": "That Congress—", "id": "H487D88C1F8F945BFB62800B1B69C80C5", "header": null, "nested": [], "links": [] }, { "text": "(1) supports the construction by Israel of a security fence to prevent Palestinian terrorist attacks; and (2) condemns the decision by the United Nations General Assembly to request the International Court of Justice to render an opinion on the legality of the security fence.", "id": "H871097D86154435F00630053748B6676", "header": null, "nested": [], "links": [] } ]

[ "EBB Terrorism", "International courts", "Israel", "Law", "Middle East and North Africa", "Palestinians", "Security measures", "Terrorism", "United Nations" ]

[ { "text": "That— (1) the United States commends the people of the Republic of China on Taiwan for having established a democracy and for repeatedly reaffirming their dedication to democratic ideals and human rights; and (2) it is the sense of Congress that— (A) the President of the United States should recognize the Republic of China on Taiwan as a sovereign government, separate from the authoritarian communist regime in Beijing, and immediately resume normal diplomatic relations with the Republic of China on Taiwan; (B) the United States should enter into a bilateral agreement with the Republic of China on Taiwan, acknowledging a sense of unity between the Republic of China on Taiwan and the United States, and a common determination to maintain safety and regional security in the West Pacific region; and (C) the Republic of China on Taiwan should be permitted to participate fully in all international organizations for which statehood is a requirement for membership, including the United Nations.", "id": "HC41B261E036745079715B8E0EFD8C446", "header": null, "nested": [], "links": [] } ]

[ "China", "Civil Rights and Liberties, Minority Issues", "Commemorations", "Congress", "Congressional tributes", "Democracy", "East Asia", "Government Operations and Politics", "Human rights", "International agencies", "Recognition (International law)", "Sovereignty", "Taiwan", "Treaties", "United Nations" ]

[ { "text": "That the Congress— (1) supports an increase in the allocation of funds to the Republic of Haiti because of the terrible destruction brought on by Hurricane Jeanne; and (2) for such reason, encourages the expedited delivery of emergency aid to Haiti.", "id": "H6FB357110CFF42BD8DC46C6CECB9C73E", "header": null, "nested": [], "links": [] } ]

[ "Caribbean area", "Disaster relief", "Economic assistance", "Emergency Management", "Haiti", "Haiti compilation", "Hurricanes", "Latin America" ]

[ { "text": "That Congress— (1) congratulates the United States Air Force Academy on its 50th Anniversary; (2) acknowledges the continued excellence of the United States Air Force Academy and its critical role in the defense of the United States; and (3) recognizes the outstanding service to the Nation that graduates from the United States Air Force Academy have provided.", "id": "H70708788DEF44721A1202BE22D413D52", "header": null, "nested": [], "links": [] } ]

[ "Air force", "Anniversaries", "Armed Forces and National Security", "Colorado", "Congress", "Congressional tributes", "Education", "Higher education", "Military education", "Officer personnel", "Service academies" ]

[ { "text": "That it is the sense of the Congress that— (1) the President should direct the United States Trade Representative to withdraw the United States from the Agreement on Government Support for Civil Aircraft that was entered into with the European Community in 1992; and (2) the President should direct the United States Trade Representative immediately to file a consultation request, under the Understanding on Rules and Procedures Governing the Settlement of Disputes of the World Trade Organization, on the matter of serious injury to the commercial aviation industry of the United States.", "id": "HDCB9CFF0718C45F09976B1C59893AF31", "header": null, "nested": [], "links": [] } ]

[ "Aircraft industry", "Commerce", "Commercial aircraft", "Dispute settlement", "Europe", "European Union", "Free trade", "International Affairs", "International agencies", "International competitiveness", "Subsidies", "Trade agreements", "Transportation and Public Works" ]

[ { "text": "That Congress— (1) recognizes the importance in history of the 150th anniversary of diplomatic relations between the United States and Japan; and (2) calls for expanded political, economic, strategic, and cultural ties between the Japanese and American people and their respective governments.", "id": "HBE93EC269FB94EE69C757442B52406A7", "header": null, "nested": [], "links": [] } ]

[ "Anniversaries", "Commemorations", "East Asia", "Japan", "Recognition (International law)" ]

[ { "text": "That the Congress— (1) recognizes and celebrates the 50th anniversary of the Brown v. Board of Education decision; (2) encourages all Americans to recognize and celebrate the 50th anniversary of the Brown v. Board of Education decision; and (3) renews its commitment to continuing and building on the legacy of Brown with a pledge to acknowledge and address the modern day disparities that remain.", "id": "HCE64DB5D478346C0B78CA9C391F818A4", "header": null, "nested": [], "links": [] } ]

[ "Anniversaries", "Civil Rights and Liberties, Minority Issues", "Desegregation in education", "Education", "Elementary and secondary education", "Higher education", "History", "Law", "Supreme Court decisions" ]

[ { "text": "That Congress— (1) recognizes the health risks associated with childhood obesity; (2) recognizes the spirit of Jacob Mock Doub and his contribution to encouraging youth of all ages to be physically active and fit, especially through bicycling; (3) expresses its sense that National Take a Kid Mountain Biking Day should be established in honor of Jacob Mock Doub; and (4) encourages parents, schools, civic organizations, and students to promote increased physical activity among youth in the United States.", "id": "HE8510A1A524741D4BFAC6EDC4844A788", "header": null, "nested": [], "links": [] }, { "text": "", "id": "H8F583F79D0BB459A9133421159D13D07", "header": null, "nested": [], "links": [] } ]

[ "Athletes", "Bicycles", "Child health", "Education", "Elementary and secondary education", "Exercise", "Families", "Health", "Obesity", "Physical education and training", "Physical fitness", "Special days", "Sports and Recreation", "Transportation and Public Works" ]

[ { "text": "That", "id": "H295C59EE99E34984AD9120EDC04100FE", "header": null, "nested": [], "links": [] }, { "text": "the Congress— (1) congratulates the Citizens Savings Bank & Trust of Nashville, Tennessee, on the occasion of the 100th anniversary of the bank, for its dedication and service to the people of Tennessee; (2) recognizes the vital role the Nation’s minority-owned banks have played in providing financial services and resources to minority individuals and businesses, particularly in communities that have been underserved by other institutions; and (3) honors the Nation’s minority-owned banks for their historic and continuing contributions to the economic and social well-being of the communities they serve.", "id": "HC73C695084824E0EB155DDA6669E09CE", "header": null, "nested": [], "links": [] } ]

[ "Anniversaries", "Commerce", "Congress", "Congressional tributes", "Finance and Financial Sector", "Minorities", "Minority business enterprises", "Tennessee" ]

[ { "text": "That", "id": "H8737CD7B375646E5A6CA8547DE5EB5D4", "header": null, "nested": [], "links": [] }, { "text": "the Congress— (1) supports the observance of Breast Cancer Awareness Month in order to provide a special opportunity to offer education on the importance of monthly breast self-examinations and annual mammograms; (2) salutes the more than 2,000,000 breast cancer survivors in the United States and the efforts of victims, volunteers, and professionals who combat breast cancer each day; (3) recognizes and applauds the national and community organizations for their work in promoting awareness about breast cancer, providing information, and offering treatment to its sufferers; and (4) urges organizations and health practitioners to use this opportunity to promote awareness about breast cancer, to support monthly self-examinations, and to encourage annual mammograms.", "id": "H048264E6E22E4244967EA9372EF81431", "header": null, "nested": [], "links": [] } ]

[ "Breast cancer", "Congress", "Congressional tributes", "Health", "Health education", "Mammography", "Medical personnel", "Medical tests", "Self-care", "Social Welfare", "Special months", "Victims", "Volunteer workers", "Women", "Women's health" ]

[ { "text": "That it is the sense of Congress that Honorable Percy Sutton be recognized as primarily responsible for the rebirth of the legendary Apollo Theatre of Harlem and as a trailblazer in business, politics, telecommunications, and law.", "id": "H5F8C011684E349B1B1EFE74C400987E", "header": null, "nested": [], "links": [] } ]

[ "Arts, Culture, Religion", "Blacks", "Civil Rights and Liberties, Minority Issues", "Civil rights workers", "Commerce", "Congress", "Congressional tributes", "Entrepreneurs", "Government Operations and Politics", "Lawyers", "Local officials", "Minorities", "New York City", "New York State", "Science, Technology, Communications", "State legislators", "Theater" ]

[ { "text": "That Congress— (1) recognizes the continuing legacy of the Buffalo Soldiers throughout the world; (2) supports the designation of a Buffalo Soldiers Heritage Month to recognize the contributions of the Buffalo Soldiers and for their bravery and service to the United States; and (3) urges the President to issue a proclamation calling upon the people of the United States to observe such month each year with appropriate ceremonies and activities.", "id": "H3FEA86138E424FEC94C69ECFDDF68229", "header": null, "nested": [], "links": [] } ]

[ "Armed Forces and National Security", "Army", "Black history", "Blacks", "Congress", "Congressional tributes", "History", "Military history", "Military personnel", "Minorities", "Special months" ]

[ { "text": "That— (1) the Congress commemorates the courage displayed by the Little Rock Nine as an example of American sacrifice through extreme adversity; and (2) it is the sense of the Congress that— (A) the design and construction of a visitor center at Little Rock Central High School National Historic Site should be fully funded by the Congress; and (B) the new facilities should open by September 2007 in order to commemorate the 50th anniversary of the historic events that occurred at Little Rock Central High School.", "id": "H8CA51D942395416F84F604319C719468", "header": null, "nested": [], "links": [] } ]

[ "Anniversaries", "Arkansas", "Black history", "Blacks", "Building construction", "Civil Rights and Liberties, Minority Issues", "Civil rights workers", "Commemorations", "Desegregation in education", "Education", "Elementary and secondary education", "Government Operations and Politics", "Historic sites", "History", "Minorities", "Secondary education", "Tourism" ]

[ { "text": "That it is the sense of Congress that an artistic tribute to commemorate the speech given by President Ronald Reagan at the Brandenburg Gate on June 12, 1987, during which he uttered the immortal lines Mr. Gorbachev, tear down this wall! , should be placed within the United States Capitol.", "id": "H7C0DBC61936B4111A87C95693100CB93", "header": null, "nested": [], "links": [] } ]

[ "Art", "Arts, Culture, Religion", "Capitol (Washington, D.C.)", "Cold War", "Congress", "Congressional tributes", "Europe", "Ex-presidents", "German reunification", "Germany", "Government Operations and Politics", "History", "International Affairs", "Presidential messages", "Reagan Administration", "U.S.S.R." ]

[ { "text": "That Congress honors past and current members of the Armed Forces of the United States and their families by encouraging every American to wear a red poppy on Memorial Day as a sign of admiration and thanks to those individuals who died to preserve freedom and democracy in the United States.", "id": "HBF79BD969CC445B18407CAE4958F6BCC", "header": null, "nested": [], "links": [] } ]

[ "Commemorations", "Flowers", "Government Operations and Politics", "Memorial Day", "Public Lands and Natural Resources", "Signs and symbols", "War casualties" ]

[ { "text": "That the Congress— (1) recognizes the impact that Tourette Syndrome can have on people living with the disorder; (2) recognizes the importance of an early diagnosis and proper treatment of Tourette Syndrome; (3) recognizes the need for enhanced public awareness of Tourette Syndrome; (4) supports the goals and ideals of National Tourette Syndrome Awareness Month, as designated by the Tourette Syndrome Association; and (5) encourages the President to issue a proclamation calling on the people of the United States and interested organizations to observe National Tourette Syndrome Awareness Month.", "id": "H17DF35BBDAE84C3C91CC969E695B5F32", "header": null, "nested": [], "links": [] } ]

[ "Health", "Health education", "Nervous system diseases", "Special months", "Syndromes" ]

[ { "text": "That Congress— (1) recognizes the 40th anniversary of the Latin American Research and Service Agency and congratulates the organization on reaching this important milestone; (2) commends the board of directors, executive director, and staff of the Latin American Research and Service Agency for addressing the needs and concerns of Latino and Hispanic Americans; and (3) expresses appreciation to the Latin American Research and Service Agency for outstanding contributions to public policy.", "id": "HAC1AD80EE9C94EE2B97D9C25BC5BAF6C", "header": null, "nested": [], "links": [] } ]

[ "Anniversaries", "Congress", "Congressional tributes", "Government Operations and Politics", "Hispanic Americans", "Minorities", "Nonprofit organizations", "Policy sciences", "Social Welfare" ]

[ { "text": "That it is the sense of Congress that— (1) the United States Postal Service should issue a commemorative postage stamp to promote public awareness of, and increased research relating to, Chrohn’s Disease; and (2) the Citizens’ Stamp Advisory Committee of the United States Postal Service should recommend to the Postmaster General that such a stamp be issued.", "id": "H40C7E978A679468A8043198FD82214A6", "header": null, "nested": [], "links": [] } ]

[ "Child health", "Digestive diseases", "Families", "Government Operations and Politics", "Health", "Postage stamps" ]

[ { "text": "That the Congress recognizes the bravery and courage of the members of the United States Armed Forces who participated in the Battle of Peleliu and of all veterans who fought in the Pacific Theater during World War II.", "id": "H8B1782FDF3F04954BE6857973969A5A2", "header": null, "nested": [], "links": [] }, { "text": "2. The Congress urges the Secretary of the Interior— (1) to recognize the year 2004 as the 60th anniversary of the Battle of Peleliu and the end of Imperial Japanese control of Palau during World War II; (2) to work to protect the historic sites of the Peleliu Battlefield National Historic Landmark; and (3) to establish commemorative programs honoring the Americans who fought at those sites.", "id": "H80E0A3BDA0C44104BCD400349DDBF28C", "header": null, "nested": [], "links": [] } ]

[ "Anniversaries", "Armed Forces and National Security", "Historic sites", "History", "International Affairs", "Military parks", "Oceania", "Palau Islands", "Public Lands and Natural Resources", "World War II" ]

[ { "text": "That the following article is proposed as an amendment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of three-fourths of the several States within seven years after the date of its submission for ratification: — 1. Whenever the right to choose the President devolves upon the House of Representatives, the Members of the House shall cast votes on an individual basis, and the candidate receiving the greatest number of votes cast by the Members shall be the President so long as such number is a majority of the votes cast. 2. For purposes of a meeting of the House to cast votes under section 1, a majority of the House shall constitute a quorum, except that a member or Members must be present from at least two-thirds of the States..", "id": "H43D28DB40168463EB6C4D92DC167FD2F", "header": null, "nested": [], "links": [] }, { "text": "1. Whenever the right to choose the President devolves upon the House of Representatives, the Members of the House shall cast votes on an individual basis, and the candidate receiving the greatest number of votes cast by the Members shall be the President so long as such number is a majority of the votes cast.", "id": "HB1AF5D3DB6AD4BC8A178A8EB3BE7002E", "header": null, "nested": [], "links": [] }, { "text": "2. For purposes of a meeting of the House to cast votes under section 1, a majority of the House shall constitute a quorum, except that a member or Members must be present from at least two-thirds of the States.", "id": "H3CFFDBC0D6DE45269C92C5923E34CA8F", "header": null, "nested": [], "links": [] } ]

[ "Congress", "Congressional voting", "Constitutional amendments", "House of Representatives", "House rules and procedure", "Law", "Presidential elections" ]

[ { "text": "1. Short title \nThis joint resolution may be cited as the Every Vote Counts Amendment.", "id": "H88FC9EBED0114B5482B01E109402291C", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Constitutional Amendment \nThe following article is proposed as an amendment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of three-fourths of the several States within seven years after the date of its submission for ratification: — 1. The President and Vice President shall be elected by the people of the several States and the district constituting the seat of government of the United States. 2. The electors in each State shall have the qualifications requisite for electors of Senators and Representatives in Congress from that State, except that the legislature of any State may prescribe less restrictive qualifications with respect to residence and Congress may establish uniform residence and age qualifications. 3. The persons having the greatest number of votes for President and Vice President shall be elected. 4. Each elector shall cast a single vote jointly applicable to President and Vice President. Names of candidates may not be joined unless they shall have consented thereto and no candidate may consent to the candidate’s name being joined with that of more than one other person. 5. The Congress may by law provide for the case of the death of any candidate for President or Vice President before the day on which the President-elect or Vice President-elect has been chosen, and for the case of a tie in any election. 6. This article shall apply with respect to any election for President and Vice President held after the expiration of the 1-year period which begins on the date of the ratification of this article..", "id": "H040F728EF1A04299004C78EDFC5CF78D", "header": "Constitutional Amendment", "nested": [], "links": [] }, { "text": "1. The President and Vice President shall be elected by the people of the several States and the district constituting the seat of government of the United States.", "id": "HE913FF4FD9A04C420019A23C508F116", "header": null, "nested": [], "links": [] }, { "text": "2. The electors in each State shall have the qualifications requisite for electors of Senators and Representatives in Congress from that State, except that the legislature of any State may prescribe less restrictive qualifications with respect to residence and Congress may establish uniform residence and age qualifications.", "id": "H96D2AD08382F482086C8AC035D34D6B4", "header": null, "nested": [], "links": [] }, { "text": "3. The persons having the greatest number of votes for President and Vice President shall be elected.", "id": "H288CF606288A4318912DED4479A5D5C6", "header": null, "nested": [], "links": [] }, { "text": "4. Each elector shall cast a single vote jointly applicable to President and Vice President. Names of candidates may not be joined unless they shall have consented thereto and no candidate may consent to the candidate’s name being joined with that of more than one other person.", "id": "HD9FDE5502E9F41B296047BF7153CB0F", "header": null, "nested": [], "links": [] }, { "text": "5. The Congress may by law provide for the case of the death of any candidate for President or Vice President before the day on which the President-elect or Vice President-elect has been chosen, and for the case of a tie in any election.", "id": "H892FCB0E7DA641658D35953D9D68E0A0", "header": null, "nested": [], "links": [] }, { "text": "6. This article shall apply with respect to any election for President and Vice President held after the expiration of the 1-year period which begins on the date of the ratification of this article.", "id": "H9D0FF09E6E0444B4819370C544315D62", "header": null, "nested": [], "links": [] } ]

[ "Constitutional amendments", "Death", "Election candidates", "Electoral college", "Law", "Presidential elections", "Presidential succession", "Vice Presidents" ]

[ { "text": "That the following article is proposed as an amendment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of three-fourths of the several States: — 1. The President and Vice President shall be elected jointly by the direct vote of the citizens of the United States, without regard to whether the citizens are residents of a State. 2. The persons having the greatest number of votes for President and Vice President shall be elected, so long as such persons have a majority of the votes cast. 3. Congress shall have the power to enforce this article through appropriate legislation. 4. This article shall apply with respect to any election for President and Vice President held after the expiration of the 1-year period which begins on the date of the ratification of this article..", "id": "H18B4E342A5EE47EF9BC700D2005CCB4E", "header": null, "nested": [], "links": [] }, { "text": "1. The President and Vice President shall be elected jointly by the direct vote of the citizens of the United States, without regard to whether the citizens are residents of a State.", "id": "H422613E3E9AC4A2D8C2DAB46F8ED2F45", "header": null, "nested": [], "links": [] }, { "text": "2. The persons having the greatest number of votes for President and Vice President shall be elected, so long as such persons have a majority of the votes cast.", "id": "H6AC73F6111224E6591C34C54EAA50073", "header": null, "nested": [], "links": [] }, { "text": "3. Congress shall have the power to enforce this article through appropriate legislation.", "id": "H6EA4771ECD0A422AA5AA6828E5AA4B11", "header": null, "nested": [], "links": [] }, { "text": "4. This article shall apply with respect to any election for President and Vice President held after the expiration of the 1-year period which begins on the date of the ratification of this article.", "id": "HB1C239C967CF46A9B06F64C9F4A918D3", "header": null, "nested": [], "links": [] } ]

[ "Constitutional amendments", "Electoral college", "Law", "Presidential elections", "Residence requirements" ]

[ { "text": "That Congress, on behalf of the American people— (1) recognizes— (A) the 100th anniversary year of the founding of the Ford Motor Company, which has been a significant part of the social, economic, and cultural heritage of the United States and many other nations and a revolutionary industrial and global institution; and (B) the truly wondrous achievements of the Ford Motor Company, as its employees, retirees, shareholders, suppliers, dealers, its many customers, automotive enthusiasts, and friends worldwide, commemorate and celebrate its 100th anniversary milestone year; (2) congratulates the Ford Motor Company for its achievements; and (3) expects that the Ford Motor Company will continue to have an even greater impact in the 21st century and beyond in providing innovative products that are affordable and environmentally sustainable, and that will enhance personal mobility for generations to come.", "id": "H062B5A3BE5144423A166504E1C4300F6", "header": null, "nested": [], "links": [] } ]

[ "Anniversaries", "Automobile industry", "Automobiles", "Commerce", "Congress", "Congressional tributes", "Economics and Public Finance", "Environmental Protection", "Sustainable development", "Transportation and Public Works" ]

[ { "text": "That Congress— (1) recognizes the 60th anniversary of the the battle in the European theater of operations during World War II known as the Battle of the Bulge, which began with a German surprise attack in the Ardennes forest region of Belgium and Luxembourg and ended with an Allied victory that made possible the defeat of Nazi Germany four months later; (2) honors those who gave their lives during the Battle of the Bulge; (3) authorizes the President to issue a proclamation calling upon the people of the United States to honor the veterans of the Battle of the Bulge with appropriate programs, ceremonies, and activities; and (4) reaffirms the bonds of friendship between the United States and both Belgium and Luxembourg.", "id": "HC4F0B39815064D009CA200B9652004D", "header": null, "nested": [], "links": [] } ]

[ "Anniversaries", "Armed Forces and National Security", "Belgium", "Commemorations", "Congress", "Congressional tributes", "Europe", "History", "Luxembourg", "Military history", "War casualties", "World War II" ]

[ { "text": "That the following article is proposed as an amendment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of three-fourths of the several States within seven years after the date of its submission for ratification: — 1. The President and Vice President shall be elected by the people of the several States and the district constituting the seat of government of the United States. 2. The electors in each State shall have the qualifications requisite for electors of the most populous branch of the legislature of the State; although Congress may establish uniform age qualifications. 3. Each elector shall cast a single vote for two persons who have consented to the joining of their names as candidates for President and Vice President. No elector shall be prohibited from casting a vote for a candidate for President or Vice President because either candidate, or both, are inhabitants of the same State as the elector. 4. The pair of candidates having the greatest number of votes for President and Vice President shall be elected. 5. The times, places, and manner of holding such elections and entitlement to inclusion on the ballot shall be determined by Congress. 6. The Congress may by law provide for the case of the death or any other disqualification of any candidate for President or Vice President before the day on which the President-elect or Vice President-elect has been chosen; and for the case of a tie in any election. 7. This article shall take effect one year after the first day of January following ratification..", "id": "HCBE34C9C464D86A8468B5D99A4B6CFF", "header": null, "nested": [], "links": [] }, { "text": "1. The President and Vice President shall be elected by the people of the several States and the district constituting the seat of government of the United States.", "id": "H481210324C1FEC7B353FFFB6CD0D6E8", "header": null, "nested": [], "links": [] }, { "text": "2. The electors in each State shall have the qualifications requisite for electors of the most populous branch of the legislature of the State; although Congress may establish uniform age qualifications.", "id": "HF5FC13C140C6207505676EB75300D7E", "header": null, "nested": [], "links": [] }, { "text": "3. Each elector shall cast a single vote for two persons who have consented to the joining of their names as candidates for President and Vice President. No elector shall be prohibited from casting a vote for a candidate for President or Vice President because either candidate, or both, are inhabitants of the same State as the elector.", "id": "H2A98B86A48027A99231579B1DDB8EDA", "header": null, "nested": [], "links": [] }, { "text": "4. The pair of candidates having the greatest number of votes for President and Vice President shall be elected.", "id": "H3CF8351B4D2F2B700F6E4FBE9600FDA", "header": null, "nested": [], "links": [] }, { "text": "5. The times, places, and manner of holding such elections and entitlement to inclusion on the ballot shall be determined by Congress.", "id": "H51329A064745F2053053439FC3B5D02", "header": null, "nested": [], "links": [] }, { "text": "6. The Congress may by law provide for the case of the death or any other disqualification of any candidate for President or Vice President before the day on which the President-elect or Vice President-elect has been chosen; and for the case of a tie in any election.", "id": "H8C5B48014E2DCE63F1D978BA6FEF5DA", "header": null, "nested": [], "links": [] }, { "text": "7. This article shall take effect one year after the first day of January following ratification.", "id": "H7039F86343F724A4266AD1BEC5A1C8D", "header": null, "nested": [], "links": [] } ]

[ "Constitutional amendments", "Death", "Election candidates", "Electoral college", "Law", "Presidential elections", "Presidential succession", "Vice Presidents" ]

[ { "text": "That the following article is proposed as an amendment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of three-fourths of the several States within seven years after the date of its submission for ratification: — 1. The right of citizens of the United States to vote in the election for President and Vice President shall not be denied or abridged by the United States or by any State on account of residency in a territory or commonwealth of the United States. 2. The Congress shall have power to enforce this article by appropriate legislation..", "id": "H1A038F87AB4843A295611F39500066E0", "header": null, "nested": [], "links": [] }, { "text": "1. The right of citizens of the United States to vote in the election for President and Vice President shall not be denied or abridged by the United States or by any State on account of residency in a territory or commonwealth of the United States.", "id": "H9889E5DFE8584413BB51B92DC4C063BF", "header": null, "nested": [], "links": [] }, { "text": "2. The Congress shall have power to enforce this article by appropriate legislation.", "id": "H2E88C8A9A2024127B1E5CB2300B145ED", "header": null, "nested": [], "links": [] } ]

[ "Civil Rights and Liberties, Minority Issues", "Constitutional amendments", "Federal-territorial relations", "Law", "Presidential elections", "Territories (U.S.)", "Voting rights" ]

[ { "text": "That the following article is proposed as an amendment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of three-fourths of the several States within seven years after the date of its submission for ratification: — 1. No person shall be a Senator or Representative in Congress who shall not have attained the age of twenty one years..", "id": "H2BE6BB61BB3546DD930256722E8B91E0", "header": null, "nested": [], "links": [] }, { "text": "1. No person shall be a Senator or Representative in Congress who shall not have attained the age of twenty one years.", "id": "H04BFDCC2F2D24499A45603FCA1BA76A5", "header": null, "nested": [], "links": [] } ]

[ "Age", "Constitutional amendments", "House of Representatives", "Law", "Members of Congress", "Senate" ]

[ { "text": "That the following article is proposed as an amendment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of three-fourths of the several States within seven years after the date of its submission for ratification: — A person who is a citizen of the United States, who has been a citizen of the United States for at least 20 years, and who is otherwise eligible to hold the Office of the President, is not ineligible to hold that Office by reason of not being a native born citizen of the United States..", "id": "H224BA3C924E4404DB641DAB77ED79DBB", "header": null, "nested": [], "links": [] }, { "text": "A person who is a citizen of the United States, who has been a citizen of the United States for at least 20 years, and who is otherwise eligible to hold the Office of the President, is not ineligible to hold that Office by reason of not being a native born citizen of the United States.", "id": "HED0C27E638294E729FF0F7EFB200DE1B", "header": null, "nested": [], "links": [] } ]

[ "Citizenship", "Constitutional amendments", "Immigrants", "Immigration", "Law" ]

[ { "text": "That the Congress— (1) recognizes the historic significance of the 105th anniversary of the founding of the Veterans of Foreign Wars of the United States (the VFW); (2) congratulates the VFW on achieving that milestone; (3) commends the approximately 2,000,000 veterans who belong to the VFW and thanks them for their service to their fellow veterans and the Nation; and (4) calls upon the President to issue a proclamation recognizing the anniversary of the VFW and the contributions made by the VFW to veterans and the Nation and calling upon the people of the United States to observe such anniversary with appropriate ceremonies and activities.", "id": "H8866B7EC65F44C57BD3D64C9F1C9224F", "header": null, "nested": [], "links": [] }, { "text": "", "id": "HE81FB8E21F454B4F92F98F7011F424D7", "header": null, "nested": [], "links": [] } ]

[ "Anniversaries", "Armed Forces and National Security", "Congress", "Congressional tributes", "History", "Veterans' organizations" ]

[ { "text": "1. Designation of Pearl Harbor Memorial Site Visitor Center \n(a) Designation \nThe visitor center at the U.S.S. Arizona Memorial in Hawaii is hereby designated as the Pearl Harbor Memorial Site Visitor Center. (b) Reference \nAny reference to the visitor center at the U.S.S. Arizona Memorial in Hawaii, in any law, regulation, map, document, record, or other paper of the United States shall be considered to be a reference to the Pearl Harbor Memorial Site Visitor Center.", "id": "H5B1005B6A0EB476FA8A3A978DD26F802", "header": "Designation of Pearl Harbor Memorial Site Visitor Center", "nested": [ { "text": "(a) Designation \nThe visitor center at the U.S.S. Arizona Memorial in Hawaii is hereby designated as the Pearl Harbor Memorial Site Visitor Center.", "id": "HEE133302351144C69D155011618BD92C", "header": "Designation", "nested": [], "links": [] }, { "text": "(b) Reference \nAny reference to the visitor center at the U.S.S. Arizona Memorial in Hawaii, in any law, regulation, map, document, record, or other paper of the United States shall be considered to be a reference to the Pearl Harbor Memorial Site Visitor Center.", "id": "H21FB2F0E03794E9AA7D1649521BF0021", "header": "Reference", "nested": [], "links": [] } ], "links": [] } ]

[ "Government Operations and Politics", "Hawaii", "History", "Monuments and memorials", "Names", "Tourism", "World War II" ]

[ { "text": "1. SBIR awards to business concerns owned by venture capital operating companies or employee benefit or pension plans \n(a) In general \nSection 9(f) of the Small Business Act ( 15 U.S.C. 638(f) ) is amended by adding at the end the following: (4) Eligibility \nA business concern shall not be prevented from participating in the Small Business Innovation Research Program solely because such business concern is owned in part by— (A) a venture capital operating company that is managed and controlled by 1 or more United States citizens or permanent resident aliens; or (B) an employee benefit or pension plan.. (b) Rulemaking authority \nNot later than 180 days after the date of the enactment of this Act, the Administrator of the Small Business Administration shall issue regulations to— (1) carry out the amendment made by subsection (a); (2) ensure that a Small Business Innovation Research award is not given to a business concern that is majority owned by— (A) another business concern that is ineligible to participate in the Small Business Innovation Research Program; or (B) a venture capital operating company or an employee benefit or pension plan that is the alter ego, instrumentality, or identity of another business concern that is ineligible to participate in the Small Business Innovation Research Program.", "id": "H3FBAF6DF28AD4C7DBAA583147C00D0DB", "header": "SBIR awards to business concerns owned by venture capital operating companies or employee benefit or pension plans", "nested": [ { "text": "(a) In general \nSection 9(f) of the Small Business Act ( 15 U.S.C. 638(f) ) is amended by adding at the end the following: (4) Eligibility \nA business concern shall not be prevented from participating in the Small Business Innovation Research Program solely because such business concern is owned in part by— (A) a venture capital operating company that is managed and controlled by 1 or more United States citizens or permanent resident aliens; or (B) an employee benefit or pension plan..", "id": "H0EE04CC65DC0433F89B7F3F9B46E342D", "header": "In general", "nested": [], "links": [ { "text": "15 U.S.C. 638(f)", "legal-doc": "usc", "parsable-cite": "usc/15/638" } ] }, { "text": "(b) Rulemaking authority \nNot later than 180 days after the date of the enactment of this Act, the Administrator of the Small Business Administration shall issue regulations to— (1) carry out the amendment made by subsection (a); (2) ensure that a Small Business Innovation Research award is not given to a business concern that is majority owned by— (A) another business concern that is ineligible to participate in the Small Business Innovation Research Program; or (B) a venture capital operating company or an employee benefit or pension plan that is the alter ego, instrumentality, or identity of another business concern that is ineligible to participate in the Small Business Innovation Research Program.", "id": "HA1641FB62D614D458967D212FF9C16B2", "header": "Rulemaking authority", "nested": [], "links": [] } ], "links": [ { "text": "15 U.S.C. 638(f)", "legal-doc": "usc", "parsable-cite": "usc/15/638" } ] } ]

[ "Administrative procedure", "Employee benefit plans", "Finance and Financial Sector", "Government Operations and Politics", "Government and business", "Government contractors", "Industrial research", "Labor and Employment", "Law", "Pension funds", "Research and development", "Science, Technology, Communications", "Small Business Administration", "Small business", "Venture capital" ]

[ { "text": "1. Authorization of appropriations \nSection 1001(a)(20) of title I of the Omnibus Crime Control and Safe Streets Act of 1968 ( 42 U.S.C. 3793(a)(20) ) is amended by striking fiscal years 2001 through 2004 and inserting fiscal years 2004 through 2009.", "id": "H076E2DA1171C466C8FB19F2C65951B4", "header": "Authorization of appropriations", "nested": [], "links": [ { "text": "42 U.S.C. 3793(a)(20)", "legal-doc": "usc", "parsable-cite": "usc/42/3793" } ] } ]

[ "Authorization", "Case management", "Courts of special jurisdiction", "Criminal courts", "Department of Justice", "Disabled", "Drug abuse", "Economics and Public Finance", "Federal aid to law enforcement", "Government Operations and Politics", "Health", "Law", "Mental health services", "Mental illness", "Mentally disabled", "Rehabilitation of criminals", "Social Welfare" ]

[ { "text": "1. Certain Restricted Air Space Waiver \nSection 521(a)(2) of the Transportation, Treasury, and Independent Agencies Appropriations Act, 2004 ( Public Law 108–199 , div. F) is amended— (1) by striking and at the end of subparagraph (B)(v); (2) by striking the period at the end of subparagraph (C) and inserting the following: ; and ; and (3) by adding at the end the following: (D) to allow the operation of an aircraft participating in an air show in restricted airspace if the Administrator of the Federal Aviation Administration, in consultation with the Secretary of the Department of Homeland Security, determines that the safety of an event is not compromised..", "id": "H065A1B60822B408B882539F464551FED", "header": "Certain Restricted Air Space Waiver", "nested": [], "links": [ { "text": "Public Law 108–199", "legal-doc": "public-law", "parsable-cite": "pl/108/199" } ] } ]

[ "Administrative remedies", "Air routes", "Aircraft", "Airspace (Law)", "Arts, Culture, Religion", "Aviation safety", "Department of Transportation", "Exhibitions", "Government Operations and Politics", "Law" ]

[ { "text": "1. Short title \nThis Act may be cited as the.", "id": "HA42F4427447E49AAB5067FF199013700", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Extension of the Temporary Assistance for Needy Families block grant program through June 30, 2004 \n(a) In general \nActivities authorized by part A of title IV of the Social Security Act , and by sections 510, 1108(b), and 1925 of such Act, shall continue through June 30, 2004, in the manner authorized for fiscal year 2003, notwithstanding section 1902(e)(1)(A) of such Act. Grants and payments may be made pursuant to this authority through the third quarter of fiscal year 2004 at the level provided for such activities through the third quarter of fiscal year 2003. (b) Conforming amendment \nSection 403(a)(3)(H)(ii) of the Social Security Act ( 42 U.S.C. 603(a)(3)(H)(ii) ) is amended by striking March 31 and inserting June 30.", "id": "H00ADD2A5DB1E4B80899168A0D2519402", "header": "Extension of the Temporary Assistance for Needy Families block grant program through June 30, 2004", "nested": [ { "text": "(a) In general \nActivities authorized by part A of title IV of the Social Security Act , and by sections 510, 1108(b), and 1925 of such Act, shall continue through June 30, 2004, in the manner authorized for fiscal year 2003, notwithstanding section 1902(e)(1)(A) of such Act. Grants and payments may be made pursuant to this authority through the third quarter of fiscal year 2004 at the level provided for such activities through the third quarter of fiscal year 2003.", "id": "H79B930D2605D4A4AA2D02EBEB8CDBFF", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Conforming amendment \nSection 403(a)(3)(H)(ii) of the Social Security Act ( 42 U.S.C. 603(a)(3)(H)(ii) ) is amended by striking March 31 and inserting June 30.", "id": "H7E94E02EF54D453BBC5244405977ED9", "header": "Conforming amendment", "nested": [], "links": [ { "text": "42 U.S.C. 603(a)(3)(H)(ii)", "legal-doc": "usc", "parsable-cite": "usc/42/603" } ] } ], "links": [ { "text": "42 U.S.C. 603(a)(3)(H)(ii)", "legal-doc": "usc", "parsable-cite": "usc/42/603" } ] }, { "text": "3. Extension of the national random sample study of child welfare and child welfare waiver authority through June 30, 2004 \nActivities authorized by sections 429A and 1130(a) of the Social Security Act shall continue through June 30, 2004, in the manner authorized for fiscal year 2003. Grants and payments may be made pursuant to this authority through the third quarter of fiscal year 2004 at the level provided for such activities through the third quarter of fiscal year 2003.", "id": "H7EE2F2EACF994E4B9BCB5DD7A04E66", "header": "Extension of the national random sample study of child welfare and child welfare waiver authority through June 30, 2004", "nested": [], "links": [] }, { "text": "4. Recalibration of caseload reduction credit \n(a) In general \nSection 407(b)(3)(A)(ii) of the Social Security Act ( 42 U.S.C. 607(b)(3)(A)(ii) ) is amended to read as follows: (ii) the average monthly number of families that received assistance under the State program funded under this part during the base year.. (b) Conforming amendment \nSection 407(b)(3)(B) of such Act ( 42 U.S.C. 607(b)(3)(B) ) is amended by striking and eligibility criteria and all that follows through the close parenthesis and inserting and the eligibility criteria in effect during the then applicable base year. (c) Base year defined \nSection 407(b)(3) of such Act ( 42 U.S.C. 607(b)(3) ) is amended by adding at the end the following: (C) Base year defined \nIn this paragraph, the term base year means, with respect to a fiscal year— (i) if the fiscal year is fiscal year 2004, fiscal year 1996; (ii) if the fiscal year is fiscal year 2005, fiscal year 1998; (iii) if the fiscal year is fiscal year 2006, fiscal year 2001; or (iv) if the fiscal year is fiscal year 2007 or any succeeding fiscal year, the then 4th preceding fiscal year..", "id": "H0CCE8FE05EBD49B2B63DBD3D4D8D871F", "header": "Recalibration of caseload reduction credit", "nested": [ { "text": "(a) In general \nSection 407(b)(3)(A)(ii) of the Social Security Act ( 42 U.S.C. 607(b)(3)(A)(ii) ) is amended to read as follows: (ii) the average monthly number of families that received assistance under the State program funded under this part during the base year..", "id": "H93E44974FEE7481C80891C3D997C01BA", "header": "In general", "nested": [], "links": [ { "text": "42 U.S.C. 607(b)(3)(A)(ii)", "legal-doc": "usc", "parsable-cite": "usc/42/607" } ] }, { "text": "(b) Conforming amendment \nSection 407(b)(3)(B) of such Act ( 42 U.S.C. 607(b)(3)(B) ) is amended by striking and eligibility criteria and all that follows through the close parenthesis and inserting and the eligibility criteria in effect during the then applicable base year.", "id": "H254C2E14A380463B81FB7D7277F9121", "header": "Conforming amendment", "nested": [], "links": [ { "text": "42 U.S.C. 607(b)(3)(B)", "legal-doc": "usc", "parsable-cite": "usc/42/607" } ] }, { "text": "(c) Base year defined \nSection 407(b)(3) of such Act ( 42 U.S.C. 607(b)(3) ) is amended by adding at the end the following: (C) Base year defined \nIn this paragraph, the term base year means, with respect to a fiscal year— (i) if the fiscal year is fiscal year 2004, fiscal year 1996; (ii) if the fiscal year is fiscal year 2005, fiscal year 1998; (iii) if the fiscal year is fiscal year 2006, fiscal year 2001; or (iv) if the fiscal year is fiscal year 2007 or any succeeding fiscal year, the then 4th preceding fiscal year..", "id": "HDB84C2D62F5F4F6FB36765DA5B90A6B0", "header": "Base year defined", "nested": [], "links": [ { "text": "42 U.S.C. 607(b)(3)", "legal-doc": "usc", "parsable-cite": "usc/42/607" } ] } ], "links": [ { "text": "42 U.S.C. 607(b)(3)(A)(ii)", "legal-doc": "usc", "parsable-cite": "usc/42/607" }, { "text": "42 U.S.C. 607(b)(3)(B)", "legal-doc": "usc", "parsable-cite": "usc/42/607" }, { "text": "42 U.S.C. 607(b)(3)", "legal-doc": "usc", "parsable-cite": "usc/42/607" } ] } ]

[ "Aid to dependent children", "Cash welfare block grants", "Child abuse", "Child welfare", "Crime and Law Enforcement", "Economics and Public Finance", "Families", "Government Operations and Politics", "Governmental investigations", "Health", "Labor and Employment", "Medicaid", "Sexual abstinence", "Welfare waivers", "Welfare work participation" ]

[ { "text": "1. Short title; table of contents \n(a) Short title \nThis Act may be cited as the Mutual Fund Reform Act of 2004. (b) Table of contents \nThe table of contents for this Act is as follows: Sec. 1. Short title; table of contents Sec. 2. Definitions Sec. 3. Rulemaking Title I—Fund governance Sec. 101. Independent directors Sec. 102. Study of director compensation and independence Sec. 103. Fiduciary duties of directors Sec. 104. Fiduciary duty of investment adviser Sec. 105. Termination of fund advisers Sec. 106. Independent accounting and auditing Sec. 107. Prevention of fraud; internal compliance and control procedures Title II—Fund transparency Sec. 201. Cost consolidation and clarity Sec. 202. Advisor compensation and ownership of fund shares Sec. 203. Point of sale and additional disclosure of broker compensation Sec. 204. Breakpoint discounts Sec. 205. Portfolio turnover ratio Sec. 206. Proxy voting policies and record Sec. 207. Customer information from account intermediaries Sec. 208. Advertising Title III—Fund regulation and oversight Sec. 301. Prohibition of asset-based distribution expenses Sec. 302. Prohibition on revenue sharing, directed brokerage, and soft dollar arrangements Sec. 303. Market timing Sec. 304. Elimination of stale prices Sec. 305. Prohibition of short term trading; mandatory redemption fees Sec. 306. Prevention of after-hours trading Sec. 307. Ban on joint management of mutual funds and hedge funds Sec. 308. Selective disclosures Title IV—Studies Sec. 401. Study of adviser conflict of interest Sec. 402. Study of coordination of enforcement efforts Sec. 403. Study of Commission organizational structure Sec. 404. Trends in arbitration clauses Sec. 405. Hedge fund regulation Sec. 406. Investor education and the Internet", "id": "HF84100C443EBE5D35E94659484E88EC", "header": "Short title; table of contents", "nested": [ { "text": "(a) Short title \nThis Act may be cited as the Mutual Fund Reform Act of 2004.", "id": "H5E59E3BA453AA4471FF608BF2DF1AB6", "header": "Short title", "nested": [], "links": [] }, { "text": "(b) Table of contents \nThe table of contents for this Act is as follows: Sec. 1. Short title; table of contents Sec. 2. Definitions Sec. 3. Rulemaking Title I—Fund governance Sec. 101. Independent directors Sec. 102. Study of director compensation and independence Sec. 103. Fiduciary duties of directors Sec. 104. Fiduciary duty of investment adviser Sec. 105. Termination of fund advisers Sec. 106. Independent accounting and auditing Sec. 107. Prevention of fraud; internal compliance and control procedures Title II—Fund transparency Sec. 201. Cost consolidation and clarity Sec. 202. Advisor compensation and ownership of fund shares Sec. 203. Point of sale and additional disclosure of broker compensation Sec. 204. Breakpoint discounts Sec. 205. Portfolio turnover ratio Sec. 206. Proxy voting policies and record Sec. 207. Customer information from account intermediaries Sec. 208. Advertising Title III—Fund regulation and oversight Sec. 301. Prohibition of asset-based distribution expenses Sec. 302. Prohibition on revenue sharing, directed brokerage, and soft dollar arrangements Sec. 303. Market timing Sec. 304. Elimination of stale prices Sec. 305. Prohibition of short term trading; mandatory redemption fees Sec. 306. Prevention of after-hours trading Sec. 307. Ban on joint management of mutual funds and hedge funds Sec. 308. Selective disclosures Title IV—Studies Sec. 401. Study of adviser conflict of interest Sec. 402. Study of coordination of enforcement efforts Sec. 403. Study of Commission organizational structure Sec. 404. Trends in arbitration clauses Sec. 405. Hedge fund regulation Sec. 406. Investor education and the Internet", "id": "HE87D4F47409D83D6A76770B0781E28F", "header": "Table of contents", "nested": [], "links": [] } ], "links": [] }, { "text": "2. Definitions \nIn this Act, the following definitions shall apply: (1) Commission \nThe term Commission means the Securities and Exchange Commission. (2) Investment adviser \nThe term investment adviser has the same meaning as in section 2(a)(20) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–2(a)(20) ). (3) Investment company \nThe term investment company has the same meaning as in section 3 of the Investment Company Act of 1940 ( 15 U.S.C. 80–3 ). (4) Registered investment company \nThe term registered investment company means an investment company that is registered under section 8 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–8 ).", "id": "H2083924D4B8B69F3D9261F873B21D7B", "header": "Definitions", "nested": [], "links": [ { "text": "15 U.S.C. 80a–2(a)(20)", "legal-doc": "usc", "parsable-cite": "usc/15/80a-2" }, { "text": "15 U.S.C. 80–3", "legal-doc": "usc", "parsable-cite": "usc/15/80-3" }, { "text": "15 U.S.C. 80a–8", "legal-doc": "usc", "parsable-cite": "usc/15/80a-8" } ] }, { "text": "3. Rulemaking \n(a) Timing \nUnless otherwise specified in this Act or the amendments made by this Act, the Commission shall issue, in final form, all rules and regulations required by this Act and the amendments made by this Act not later than 180 days after the date of enactment of this Act. (b) Authority to define terms \nThe Commission may, in issuing rules and regulations under this Act or the amendments made by this Act, define any term used in this Act or such amendments that is not otherwise defined for purposes of this Act or such amendment, as the Commission determines necessary and appropriate. (c) Exemption authority \nThe Commission may, in issuing rules and regulations under this Act or the amendments made by this Act, exempt any investment company or other person from the application of such rules, as the Commission determines is necessary and appropriate, in the public interest or for the protection of investors.", "id": "H04F18AFF46A48603DA1160B51DE2D3E", "header": "Rulemaking", "nested": [ { "text": "(a) Timing \nUnless otherwise specified in this Act or the amendments made by this Act, the Commission shall issue, in final form, all rules and regulations required by this Act and the amendments made by this Act not later than 180 days after the date of enactment of this Act.", "id": "H109CFAD74D39B04127841C89E30787D", "header": "Timing", "nested": [], "links": [] }, { "text": "(b) Authority to define terms \nThe Commission may, in issuing rules and regulations under this Act or the amendments made by this Act, define any term used in this Act or such amendments that is not otherwise defined for purposes of this Act or such amendment, as the Commission determines necessary and appropriate.", "id": "H7DD596D140F0F50CE0009E8E150042F", "header": "Authority to define terms", "nested": [], "links": [] }, { "text": "(c) Exemption authority \nThe Commission may, in issuing rules and regulations under this Act or the amendments made by this Act, exempt any investment company or other person from the application of such rules, as the Commission determines is necessary and appropriate, in the public interest or for the protection of investors.", "id": "H3834C6E14F6C51548E8AD28CF041B00", "header": "Exemption authority", "nested": [], "links": [] } ], "links": [] }, { "text": "101. Independent directors \n(a) Independent fund boards \nSection 10(a) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–10(a) ) is amended— (1) by striking shall have and inserting the following: shall— (1) have ; (2) by striking 60 per centum and inserting 25 percent ; (3) by striking the period at the end and inserting a semicolon; and (4) by adding at the end the following: (2) have as chairman of its board of directors an interested person of such registered company; or (3) have as a member of its board of directors any person that is not an interested person of such registered investment company— (A) who has served without being approved or elected by the shareholders of such registered investment company at least once every 5 years; and (B) unless such director has been found, on an annual basis, by a majority of the directors who are not interested persons, after reasonable inquiry by such directors, not to have any material business or familial relationship with the registered investment company, a significant service provider to the company, or any entity controlling, controlled by, or under common control with such service provider, that is likely to impair the independence of the director.. (b) Action by independent directors \nSection 10 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–10 ) is amended by adding at the end the following: (i) Independent committee \n(1) In general \nThe members of the board of directors of a registered investment company who are not interested persons of such registered investment company shall establish a committee comprised solely of such members, which committee shall be responsible for— (A) selecting persons to be nominated for election to the board of directors; (B) adopting qualification standards for the nomination of directors; and (C) determining the compensation to be paid to directors. (2) Disclosure \nThe standards developed under paragraph (1)(B) shall be disclosed in the registration statement of the registered investment company.. (c) Definition of interested person \nSection 2(a)(19) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–2 ) is amended— (1) in subparagraph (A)— (A) in clause (iv), by striking two and inserting 5 ; and (B) by striking clause (vii) and inserting the following: (vii) any natural person who has served as an officer or director, or as an employee within the preceding 10 fiscal years, of an investment adviser or principal underwriter to such registered investment company, or of any entity controlling, controlled by, or under common control with such investment adviser or principal underwriter; (viii) any natural person who has served as an officer or director, or as an employee within the preceding 10 fiscal years, of any entity that has within the preceding 5 fiscal years acted as a significant service provider to such registered investment company, or of any entity controlling, controlled by, or under the common control with such service provider; (ix) any natural person who is a member of a class of persons that the Commission, by rule or regulation, determines is unlikely to exercise an appropriate degree of independence as a result of— (I) a material business relationship with the investment company or an affiliated person of such investment company; (II) a close familial relationship with any natural person who is an affiliated person of such investment company; or (III) any other reason determined by the Commission. ; (2) in subparagraph (B)— (A) in clause (iv), by striking two and inserting 5 ; and (B) by striking clause (vii) and inserting the following: (vii) any natural person who is a member of a class of persons that the Commission, by rule or regulation, determines is unlikely to exercise an appropriate degree of independence as a result of— (I) a material business relationship with such investment adviser or principal underwriter or affiliated person of such investment adviser or principal underwriter; (II) a close familial relationship with any natural person who is an affiliated person of such investment adviser or principal underwriter; or (III) any other reason as determined by the Commission.. (d) Definition of significant service provider \nSection 2(a) of the Investment Company Act of 1940 is amended by adding at the end the following: (53) Significant service provider \n(A) In general \nNot later than 270 days after the date of enactment of the Mutual Fund Reform Act of 2004 , the Commission shall issue final rules defining the term significant service provider. (B) Requirements \nThe definition developed under paragraph (1) shall include, at a minimum, the investment adviser and principal underwriter of a registered investment company for purposes of paragraph (19)..", "id": "H496048B346FB485FFFF056B7823178F", "header": "Independent directors", "nested": [ { "text": "(a) Independent fund boards \nSection 10(a) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–10(a) ) is amended— (1) by striking shall have and inserting the following: shall— (1) have ; (2) by striking 60 per centum and inserting 25 percent ; (3) by striking the period at the end and inserting a semicolon; and (4) by adding at the end the following: (2) have as chairman of its board of directors an interested person of such registered company; or (3) have as a member of its board of directors any person that is not an interested person of such registered investment company— (A) who has served without being approved or elected by the shareholders of such registered investment company at least once every 5 years; and (B) unless such director has been found, on an annual basis, by a majority of the directors who are not interested persons, after reasonable inquiry by such directors, not to have any material business or familial relationship with the registered investment company, a significant service provider to the company, or any entity controlling, controlled by, or under common control with such service provider, that is likely to impair the independence of the director..", "id": "H8BB5C2B741B2E869E04C45A492C43CE", "header": "Independent fund boards", "nested": [], "links": [ { "text": "15 U.S.C. 80a–10(a)", "legal-doc": "usc", "parsable-cite": "usc/15/80a-10" } ] }, { "text": "(b) Action by independent directors \nSection 10 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–10 ) is amended by adding at the end the following: (i) Independent committee \n(1) In general \nThe members of the board of directors of a registered investment company who are not interested persons of such registered investment company shall establish a committee comprised solely of such members, which committee shall be responsible for— (A) selecting persons to be nominated for election to the board of directors; (B) adopting qualification standards for the nomination of directors; and (C) determining the compensation to be paid to directors. (2) Disclosure \nThe standards developed under paragraph (1)(B) shall be disclosed in the registration statement of the registered investment company..", "id": "H7F16E4A94B0DE55AB9ED8E82E66B4FE", "header": "Action by independent directors", "nested": [], "links": [ { "text": "15 U.S.C. 80a–10", "legal-doc": "usc", "parsable-cite": "usc/15/80a-10" } ] }, { "text": "(c) Definition of interested person \nSection 2(a)(19) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–2 ) is amended— (1) in subparagraph (A)— (A) in clause (iv), by striking two and inserting 5 ; and (B) by striking clause (vii) and inserting the following: (vii) any natural person who has served as an officer or director, or as an employee within the preceding 10 fiscal years, of an investment adviser or principal underwriter to such registered investment company, or of any entity controlling, controlled by, or under common control with such investment adviser or principal underwriter; (viii) any natural person who has served as an officer or director, or as an employee within the preceding 10 fiscal years, of any entity that has within the preceding 5 fiscal years acted as a significant service provider to such registered investment company, or of any entity controlling, controlled by, or under the common control with such service provider; (ix) any natural person who is a member of a class of persons that the Commission, by rule or regulation, determines is unlikely to exercise an appropriate degree of independence as a result of— (I) a material business relationship with the investment company or an affiliated person of such investment company; (II) a close familial relationship with any natural person who is an affiliated person of such investment company; or (III) any other reason determined by the Commission. ; (2) in subparagraph (B)— (A) in clause (iv), by striking two and inserting 5 ; and (B) by striking clause (vii) and inserting the following: (vii) any natural person who is a member of a class of persons that the Commission, by rule or regulation, determines is unlikely to exercise an appropriate degree of independence as a result of— (I) a material business relationship with such investment adviser or principal underwriter or affiliated person of such investment adviser or principal underwriter; (II) a close familial relationship with any natural person who is an affiliated person of such investment adviser or principal underwriter; or (III) any other reason as determined by the Commission..", "id": "HBBF000B4495ECA277F99B5A991DAD21", "header": "Definition of interested person", "nested": [], "links": [ { "text": "15 U.S.C. 80a–2", "legal-doc": "usc", "parsable-cite": "usc/15/80a-2" } ] }, { "text": "(d) Definition of significant service provider \nSection 2(a) of the Investment Company Act of 1940 is amended by adding at the end the following: (53) Significant service provider \n(A) In general \nNot later than 270 days after the date of enactment of the Mutual Fund Reform Act of 2004 , the Commission shall issue final rules defining the term significant service provider. (B) Requirements \nThe definition developed under paragraph (1) shall include, at a minimum, the investment adviser and principal underwriter of a registered investment company for purposes of paragraph (19)..", "id": "HF857A1A24099CCA644EA6A88DFCC731", "header": "Definition of significant service provider", "nested": [], "links": [] } ], "links": [ { "text": "15 U.S.C. 80a–10(a)", "legal-doc": "usc", "parsable-cite": "usc/15/80a-10" }, { "text": "15 U.S.C. 80a–10", "legal-doc": "usc", "parsable-cite": "usc/15/80a-10" }, { "text": "15 U.S.C. 80a–2", "legal-doc": "usc", "parsable-cite": "usc/15/80a-2" } ] }, { "text": "102. Study of director compensation and independence \n(a) In general \nThe Commission shall conduct a study of— (1) whether any limits should be placed upon the amount of compensation paid by a registered investment company or any affiliate of such company to a director thereof; and (2) whether a director of a registered investment company who is otherwise not an interested person of a registered investment company, as defined in section 2(a)(19) of the Investment Company Act of 1940 , as amended by this Act, but serves as a director of multiple registered investment companies, or receives substantial compensation from the investment adviser of any such company, should be considered an interested person for purposes of section 2 of the Investment Company Act of 1940. (b) Report \nNot later than 1 year after the date of enactment of this Act, the Commission shall submit a report regarding the study conducted under subsection (a) to— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Financial Services of the House of Representatives.", "id": "HD3705BBB46CC9D4AB0D4AC90B3F7BDE", "header": "Study of director compensation and independence", "nested": [ { "text": "(a) In general \nThe Commission shall conduct a study of— (1) whether any limits should be placed upon the amount of compensation paid by a registered investment company or any affiliate of such company to a director thereof; and (2) whether a director of a registered investment company who is otherwise not an interested person of a registered investment company, as defined in section 2(a)(19) of the Investment Company Act of 1940 , as amended by this Act, but serves as a director of multiple registered investment companies, or receives substantial compensation from the investment adviser of any such company, should be considered an interested person for purposes of section 2 of the Investment Company Act of 1940.", "id": "H1F76F2F644C93F1C5D9B0BB2CD6004E", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Report \nNot later than 1 year after the date of enactment of this Act, the Commission shall submit a report regarding the study conducted under subsection (a) to— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Financial Services of the House of Representatives.", "id": "HB92CB8A444812DDEFF771EB627F0B12", "header": "Report", "nested": [], "links": [] } ], "links": [] }, { "text": "103. Fiduciary duties of directors \nSection 10 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–10 ), as amended by this Act, is amended by adding at the end the following: (j) Fiduciary duty of directors \n(1) In general \nThe members of the board of directors of a registered investment company shall have a fiduciary duty to act with loyalty and care, in the best interests of the shareholders. (2) Rulemaking \nThe Commission shall promulgate rules to clarify the scope of the fiduciary duty under paragraph (1), which rules shall, at a minimum, require the directors of a registered investment company to— (A) determine the extent to which independent and reliable sources of information are sufficient to discharge director responsibilities; (B) negotiate management and advisory fees with due regard for the actual cost of such services, including economies of scale; (C) evaluate the totality of fees with reference to the interests of shareholders; (D) evaluate the quality of the management of the company and potentially superior alternatives; (E) evaluate the quality, comprehensiveness, and clarity of disclosures to shareholders regarding costs; (F) evaluate any distribution or marketing plan of the company, including its costs and benefits; (G) evaluate the size of the portfolio of the company and its suitability to the interests of shareholders; (H) implement and monitor policies to ensure compliance with applicable securities laws; and (I) implement and monitor policies with respect to predatory trading practices..", "id": "H1D65B0E44E3E13E736270D89F1FF93B", "header": "Fiduciary duties of directors", "nested": [], "links": [ { "text": "15 U.S.C. 80a–10", "legal-doc": "usc", "parsable-cite": "usc/15/80a-10" } ] }, { "text": "104. Fiduciary duty of investment adviser \nSection 36 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–35(b) ) is amended— (1) by redesignating subsection (c) as subsection (d); and (2) by inserting after subsection (b) the following: (c) Duties with respect to compensation and provision of information \nFor purposes of subsections (a) and (b), the fiduciary duty of an investment adviser— (1) with respect to any compensation received, may require reasonable reference to the actual costs of the adviser and economies of scale; and (2) shall include a duty to supply such material information as is necessary for the independent directors of a registered investment company with whom the adviser is employed to review and govern such company..", "id": "H5E41FCC049110AA3968696A57DF75A3", "header": "Fiduciary duty of investment adviser", "nested": [], "links": [ { "text": "15 U.S.C. 80a–35(b)", "legal-doc": "usc", "parsable-cite": "usc/15/80a-35" } ] }, { "text": "105. Termination of fund adviser \nThe Commission shall promulgate such rules as it determines necessary in the public interest or for the protection of investors to facilitate the process through which the independent directors of a registered investment company may terminate the services of the investment adviser of such company in the good faith exercise of their fiduciary duties, without undue exposure to financial or litigation risk.", "id": "H6557DBCE4E2AEB50B73D7094D449EAA", "header": "Termination of fund adviser", "nested": [], "links": [] }, { "text": "106. Independent accounting and auditing \n(a) Amendments \nSection 32 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–31 ) is amended— (1) in subsection (a)— (A) by striking paragraphs (1) and (2) and inserting the following: (1) such accountant shall have been selected at a meeting held within 30 days before or after the beginning of the fiscal year or before the annual meeting of stockholders in that year by the vote, cast in person, of a majority of the members of the audit committee of such registered investment company; (2) such selection shall have been submitted for ratification or rejection at the next succeeding annual meeting of stockholders if such meeting be held, except that any vacancy occurring between annual meetings, due to the death or resignation of the accountant, may be filled by the vote of a majority of the members of the audit committee of such registered company, cast in person at a meeting called for the purpose of voting on such action; ; and (B) by adding at the end the following: The Commission, by rule, regulation, or order, may exempt a registered management company or registered face-amount certificate company otherwise subject to this subsection from the requirement in paragraph (1) that the votes by the members of the audit committee be cast at a meeting in person, when such a requirement is impracticable, subject to such conditions as the Commission may require. ; and (2) by adding at the end the following: (d) Audit committee requirements \n(1) Requirements as prerequisite to filing financial statements \nAny registered management company or registered face-amount certificate company that files with the Commission any financial statement signed or certified by an independent public accountant shall comply with the requirements of paragraphs (2) through (6) of this subsection and any rule or regulation of the Commission issued thereunder. (2) Responsibility relating to independent public accountants \nThe audit committee of the registered investment company, in its capacity as a committee of the board of directors, shall be directly responsible for the appointment, compensation, and oversight of the work of any independent public accountant employed by the registered investment company (including resolution of disagreements between management and the auditor regarding financial reporting) for the purpose of preparing or issuing the audit report or related work, and each such independent public accountant shall report directly to the audit committee. (3) Independence \n(A) In general \nEach member of the audit committee of the registered investment company shall be a member of the board of directors of the company, and shall otherwise be independent. (B) Criteria \nIn order to be considered to be independent for purposes of this paragraph, a member of an audit committee of a registered investment company may not, other than in his or her capacity as a member of the audit committee, the board of directors, or any other board committee— (i) accept any consulting, advisory, or other compensatory fee from the registered investment company or the investment adviser or principal underwriter of the registered investment company; or (ii) be an interested person of the registered investment company. (4) Complaints \nThe audit committee of the registered investment company shall establish procedures for— (A) the receipt, retention, and treatment of complaints received by the registered investment company regarding accounting, internal accounting controls, or auditing matters; and (B) the confidential, anonymous submission by employees of the registered investment company and its investment adviser or principal underwriter of concerns regarding questionable accounting or auditing matters. (5) Authority to engage advisers \nThe audit committee of the registered investment company shall have the authority to engage independent counsel and other advisers, as it determines necessary to carry out its duties. (6) Funding \nThe registered investment company shall provide appropriate funding, as determined by the audit committee, in its capacity as a committee of the board of directors, for payment of compensation— (A) to the independent public accountant employed by the registered investment company for the purpose of rendering or issuing the audit report; and (B) to any advisers employed by the audit committee under paragraph (5). (7) Audit committee \nFor purposes of this subsection, the term audit committee means— (A) a committee (or equivalent body) established by and amongst the board of directors of a registered investment company for the purpose of overseeing the accounting and financial reporting processes of the company and audits of the financial statements of the company; and (B) if no such committee exists with respect to a registered investment company, the entire board of directors of the company.. (b) Conforming amendment \nSection 10A(m) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78j–1(m) ) is amended by adding at the end the following: (7) Exemption for investment companies \nEffective one year after the date of enactment of the Mutual Fund Reform Act of 2004 , for purposes of this subsection, the term issuer shall not include any investment company that is registered under section 8 of the Investment Company Act of 1940.. (c) Implementation \nThe Commission shall issue final regulations to carry out section 32(d) of the Investment Company Act of 1940 , as added by subsection (a) of this section.", "id": "H16A9DCAC4D1DF47B74BD489B6486A17", "header": "Independent accounting and auditing", "nested": [ { "text": "(a) Amendments \nSection 32 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–31 ) is amended— (1) in subsection (a)— (A) by striking paragraphs (1) and (2) and inserting the following: (1) such accountant shall have been selected at a meeting held within 30 days before or after the beginning of the fiscal year or before the annual meeting of stockholders in that year by the vote, cast in person, of a majority of the members of the audit committee of such registered investment company; (2) such selection shall have been submitted for ratification or rejection at the next succeeding annual meeting of stockholders if such meeting be held, except that any vacancy occurring between annual meetings, due to the death or resignation of the accountant, may be filled by the vote of a majority of the members of the audit committee of such registered company, cast in person at a meeting called for the purpose of voting on such action; ; and (B) by adding at the end the following: The Commission, by rule, regulation, or order, may exempt a registered management company or registered face-amount certificate company otherwise subject to this subsection from the requirement in paragraph (1) that the votes by the members of the audit committee be cast at a meeting in person, when such a requirement is impracticable, subject to such conditions as the Commission may require. ; and (2) by adding at the end the following: (d) Audit committee requirements \n(1) Requirements as prerequisite to filing financial statements \nAny registered management company or registered face-amount certificate company that files with the Commission any financial statement signed or certified by an independent public accountant shall comply with the requirements of paragraphs (2) through (6) of this subsection and any rule or regulation of the Commission issued thereunder. (2) Responsibility relating to independent public accountants \nThe audit committee of the registered investment company, in its capacity as a committee of the board of directors, shall be directly responsible for the appointment, compensation, and oversight of the work of any independent public accountant employed by the registered investment company (including resolution of disagreements between management and the auditor regarding financial reporting) for the purpose of preparing or issuing the audit report or related work, and each such independent public accountant shall report directly to the audit committee. (3) Independence \n(A) In general \nEach member of the audit committee of the registered investment company shall be a member of the board of directors of the company, and shall otherwise be independent. (B) Criteria \nIn order to be considered to be independent for purposes of this paragraph, a member of an audit committee of a registered investment company may not, other than in his or her capacity as a member of the audit committee, the board of directors, or any other board committee— (i) accept any consulting, advisory, or other compensatory fee from the registered investment company or the investment adviser or principal underwriter of the registered investment company; or (ii) be an interested person of the registered investment company. (4) Complaints \nThe audit committee of the registered investment company shall establish procedures for— (A) the receipt, retention, and treatment of complaints received by the registered investment company regarding accounting, internal accounting controls, or auditing matters; and (B) the confidential, anonymous submission by employees of the registered investment company and its investment adviser or principal underwriter of concerns regarding questionable accounting or auditing matters. (5) Authority to engage advisers \nThe audit committee of the registered investment company shall have the authority to engage independent counsel and other advisers, as it determines necessary to carry out its duties. (6) Funding \nThe registered investment company shall provide appropriate funding, as determined by the audit committee, in its capacity as a committee of the board of directors, for payment of compensation— (A) to the independent public accountant employed by the registered investment company for the purpose of rendering or issuing the audit report; and (B) to any advisers employed by the audit committee under paragraph (5). (7) Audit committee \nFor purposes of this subsection, the term audit committee means— (A) a committee (or equivalent body) established by and amongst the board of directors of a registered investment company for the purpose of overseeing the accounting and financial reporting processes of the company and audits of the financial statements of the company; and (B) if no such committee exists with respect to a registered investment company, the entire board of directors of the company..", "id": "HB6592B034123FED2B350F7A93BC9B5D", "header": "Amendments", "nested": [], "links": [ { "text": "15 U.S.C. 80a–31", "legal-doc": "usc", "parsable-cite": "usc/15/80a-31" } ] }, { "text": "(b) Conforming amendment \nSection 10A(m) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78j–1(m) ) is amended by adding at the end the following: (7) Exemption for investment companies \nEffective one year after the date of enactment of the Mutual Fund Reform Act of 2004 , for purposes of this subsection, the term issuer shall not include any investment company that is registered under section 8 of the Investment Company Act of 1940..", "id": "H155E544F464405B47975098B2EE1D3D", "header": "Conforming amendment", "nested": [], "links": [ { "text": "15 U.S.C. 78j–1(m)", "legal-doc": "usc", "parsable-cite": "usc/15/78j-1" } ] }, { "text": "(c) Implementation \nThe Commission shall issue final regulations to carry out section 32(d) of the Investment Company Act of 1940 , as added by subsection (a) of this section.", "id": "HED4C7C4C4EB549075AB494BF9BA2A90", "header": "Implementation", "nested": [], "links": [] } ], "links": [ { "text": "15 U.S.C. 80a–31", "legal-doc": "usc", "parsable-cite": "usc/15/80a-31" }, { "text": "15 U.S.C. 78j–1(m)", "legal-doc": "usc", "parsable-cite": "usc/15/78j-1" } ] }, { "text": "107. Prevention of fraud; internal compliance and control procedures \n(a) Detection and prevention of fraud \nSection 17(j) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–17(j) ) is amended to read as follows: (j) Detection and prevention of fraud \n(1) Commission rules to prohibit fraud, deception, and manipulation \nIt shall be unlawful for any affiliated person of or principal underwriter for a registered investment company or any affiliated person of an investment adviser of or principal underwriter for a registered investment company, to engage in any act, practice, or course of business in connection with the purchase or sale, directly or indirectly, by such person of any security held or to be acquired by such registered investment company, or any security issued by such registered investment company or by an affiliated registered investment company, in contravention of such rules as the Commission may adopt to define, and prescribe means reasonably necessary to prevent, such acts, practices, or courses of business as are fraudulent, deceptive or manipulative. (2) Codes of ethics \nThe rules adopted under paragraph (1) shall include requirements for the adoption of codes of ethics by a registered investment company and investment advisers of, and principal underwriters for, such investment companies establishing such standards as are reasonably necessary to prevent such acts, practices, or courses of business. Such rules and regulations shall require each such registered investment company to disclose such codes of ethics (and any changes therein) in the periodic report to shareholders of such company, and to disclose such code of ethics and any waivers and material violations thereof on a readily accessible electronic public information facility of such company and in such additional form and manner as the Commission shall require by rule or regulation. (3) Additional compliance procedures \nThe rules adopted under paragraph (1) shall— (A) require each registered investment company and investment adviser to adopt and implement general policies and procedures reasonably designed to prevent violations of this title, the Securities Act of 1933 ( 15 U.S.C. 78a et seq. ), the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq. ), the Sarbanes-Oxley Act of 2002 ( 15 U.S.C. 7201 et seq. ) and amendments made by that Act, the Trust Indenture Act of 1939 ( 15 U.S.C. 77aaa et seq. ), the Investment Advisers Act of 1940 ( 15 U.S.C. 80b et seq. ), the Securities Investor Protection Act of 1970 ( 15 U.S.C. 78aaa et seq. ), subchapter II of chapter 53 of title 31, United States Code, chapter 2 of title I of Public Law 91–508 ( 12 U.S.C. 1951 et seq. ), or section 21 of the Federal Deposit Insurance Act ( 12 U.S.C. 1829b ); (B) require each registered investment company and registered investment adviser to review such policies and procedures annually for their adequacy and the effectiveness of their implementation; and (C) require each registered investment company to appoint a chief compliance officer to be responsible for overseeing such policies and procedures— (i) whose compensation shall be approved by the members of the board of directors of the company who are not interested persons of the company; (ii) who shall report directly to the members of the board of directors of the company who are not interested persons of such company, privately as such members request, but not less frequently than annually; and (iii) whose report to such members shall include any violations or waivers of, and any other significant issues arising under, such policies and procedures. (4) Certifications \nThe rules adopted under paragraph (1) shall require each senior executive officer, or such officers designated by the Commission, of an investment adviser of a registered investment company to certify in each periodic report to shareholders, or other appropriate disclosure document, that— (A) procedures are in place for verifying that the determination of current net asset value of any redeemable security issued by the company used in computing periodically the current price for the purpose of purchase, redemption, and sale complies with the requirements of this title and the rules and regulations issued under this title, and the company is in compliance with such procedures; (B) procedures are in place to ensure that, if the shares of the company are offered as different classes of shares, such classes are designed in the interests of shareholders, and could reasonably be an appropriate investment option for a shareholder; (C) procedures are in place to ensure that information about the portfolio securities of the company is not disclosed in violation of the securities laws or the code of ethics of the company; (D) the members of the board of directors who are not interested persons of the company have reviewed and approved the compensation of the portfolio manager of the company in connection with their consideration of the investment advisory contract under section 15(c); and (E) the company has established and enforces a code of ethics, as required by paragraph (2).. (b) Whistleblower protection \nSection 1514A(a) of title 18, United States Code, is amended by striking the matter preceding paragraph (1) and inserting the following: (a) Whistleblower protection for employees of publicly traded companies and registered investment companies \nNo company with a class of securities registered under section 12 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78l ), or that is required to file reports under section 15(d) of the Securities and Exchange Act of 1934 ( 15 U.S.C. 78o(d) ), or that is an investment adviser, principal underwriter, or significant service provider (as such terms are defined under section 2(a) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–2(a) ) of an investment company which is registered under section 8 of the Investment Company Act of 1940 , or any officer, employee, contractor, subcontractor, or agent of such company, may discharge, demote, suspend, threaten, harass, or in any other manner discriminate against an employee in the terms and conditions of employment because of any lawful act done by the employee—.", "id": "H4C7D5DF2417368BE45AE958035874CF", "header": "Prevention of fraud; internal compliance and control procedures", "nested": [ { "text": "(a) Detection and prevention of fraud \nSection 17(j) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–17(j) ) is amended to read as follows: (j) Detection and prevention of fraud \n(1) Commission rules to prohibit fraud, deception, and manipulation \nIt shall be unlawful for any affiliated person of or principal underwriter for a registered investment company or any affiliated person of an investment adviser of or principal underwriter for a registered investment company, to engage in any act, practice, or course of business in connection with the purchase or sale, directly or indirectly, by such person of any security held or to be acquired by such registered investment company, or any security issued by such registered investment company or by an affiliated registered investment company, in contravention of such rules as the Commission may adopt to define, and prescribe means reasonably necessary to prevent, such acts, practices, or courses of business as are fraudulent, deceptive or manipulative. (2) Codes of ethics \nThe rules adopted under paragraph (1) shall include requirements for the adoption of codes of ethics by a registered investment company and investment advisers of, and principal underwriters for, such investment companies establishing such standards as are reasonably necessary to prevent such acts, practices, or courses of business. Such rules and regulations shall require each such registered investment company to disclose such codes of ethics (and any changes therein) in the periodic report to shareholders of such company, and to disclose such code of ethics and any waivers and material violations thereof on a readily accessible electronic public information facility of such company and in such additional form and manner as the Commission shall require by rule or regulation. (3) Additional compliance procedures \nThe rules adopted under paragraph (1) shall— (A) require each registered investment company and investment adviser to adopt and implement general policies and procedures reasonably designed to prevent violations of this title, the Securities Act of 1933 ( 15 U.S.C. 78a et seq. ), the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq. ), the Sarbanes-Oxley Act of 2002 ( 15 U.S.C. 7201 et seq. ) and amendments made by that Act, the Trust Indenture Act of 1939 ( 15 U.S.C. 77aaa et seq. ), the Investment Advisers Act of 1940 ( 15 U.S.C. 80b et seq. ), the Securities Investor Protection Act of 1970 ( 15 U.S.C. 78aaa et seq. ), subchapter II of chapter 53 of title 31, United States Code, chapter 2 of title I of Public Law 91–508 ( 12 U.S.C. 1951 et seq. ), or section 21 of the Federal Deposit Insurance Act ( 12 U.S.C. 1829b ); (B) require each registered investment company and registered investment adviser to review such policies and procedures annually for their adequacy and the effectiveness of their implementation; and (C) require each registered investment company to appoint a chief compliance officer to be responsible for overseeing such policies and procedures— (i) whose compensation shall be approved by the members of the board of directors of the company who are not interested persons of the company; (ii) who shall report directly to the members of the board of directors of the company who are not interested persons of such company, privately as such members request, but not less frequently than annually; and (iii) whose report to such members shall include any violations or waivers of, and any other significant issues arising under, such policies and procedures. (4) Certifications \nThe rules adopted under paragraph (1) shall require each senior executive officer, or such officers designated by the Commission, of an investment adviser of a registered investment company to certify in each periodic report to shareholders, or other appropriate disclosure document, that— (A) procedures are in place for verifying that the determination of current net asset value of any redeemable security issued by the company used in computing periodically the current price for the purpose of purchase, redemption, and sale complies with the requirements of this title and the rules and regulations issued under this title, and the company is in compliance with such procedures; (B) procedures are in place to ensure that, if the shares of the company are offered as different classes of shares, such classes are designed in the interests of shareholders, and could reasonably be an appropriate investment option for a shareholder; (C) procedures are in place to ensure that information about the portfolio securities of the company is not disclosed in violation of the securities laws or the code of ethics of the company; (D) the members of the board of directors who are not interested persons of the company have reviewed and approved the compensation of the portfolio manager of the company in connection with their consideration of the investment advisory contract under section 15(c); and (E) the company has established and enforces a code of ethics, as required by paragraph (2)..", "id": "H4A0FDB054A8213AB5A371C8E40CB3FA", "header": "Detection and prevention of fraud", "nested": [], "links": [ { "text": "15 U.S.C. 80a–17(j)", "legal-doc": "usc", "parsable-cite": "usc/15/80a-17" }, { "text": "15 U.S.C. 78a et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/78a" }, { "text": "15 U.S.C. 78a et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/78a" }, { "text": "15 U.S.C. 7201 et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/7201" }, { "text": "15 U.S.C. 77aaa et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/77aaa" }, { "text": "15 U.S.C. 80b et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/80b" }, { "text": "15 U.S.C. 78aaa et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/78aaa" }, { "text": "chapter 53", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/31/53" }, { "text": "Public Law 91–508", "legal-doc": "public-law", "parsable-cite": "pl/91/508" }, { "text": "12 U.S.C. 1951 et seq.", "legal-doc": "usc", "parsable-cite": "usc/12/1951" }, { "text": "12 U.S.C. 1829b", "legal-doc": "usc", "parsable-cite": "usc/12/1829b" } ] }, { "text": "(b) Whistleblower protection \nSection 1514A(a) of title 18, United States Code, is amended by striking the matter preceding paragraph (1) and inserting the following: (a) Whistleblower protection for employees of publicly traded companies and registered investment companies \nNo company with a class of securities registered under section 12 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78l ), or that is required to file reports under section 15(d) of the Securities and Exchange Act of 1934 ( 15 U.S.C. 78o(d) ), or that is an investment adviser, principal underwriter, or significant service provider (as such terms are defined under section 2(a) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–2(a) ) of an investment company which is registered under section 8 of the Investment Company Act of 1940 , or any officer, employee, contractor, subcontractor, or agent of such company, may discharge, demote, suspend, threaten, harass, or in any other manner discriminate against an employee in the terms and conditions of employment because of any lawful act done by the employee—.", "id": "H0179B2EF4C9CC68A8AE019979069F36", "header": "Whistleblower protection", "nested": [], "links": [ { "text": "Section 1514A(a)", "legal-doc": "usc", "parsable-cite": "usc/18/1514A" }, { "text": "15 U.S.C. 78l", "legal-doc": "usc", "parsable-cite": "usc/15/78l" }, { "text": "15 U.S.C. 78o(d)", "legal-doc": "usc", "parsable-cite": "usc/15/78o" }, { "text": "15 U.S.C. 80a–2(a)", "legal-doc": "usc", "parsable-cite": "usc/15/80a-2" } ] } ], "links": [ { "text": "15 U.S.C. 80a–17(j)", "legal-doc": "usc", "parsable-cite": "usc/15/80a-17" }, { "text": "15 U.S.C. 78a et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/78a" }, { "text": "15 U.S.C. 78a et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/78a" }, { "text": "15 U.S.C. 7201 et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/7201" }, { "text": "15 U.S.C. 77aaa et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/77aaa" }, { "text": "15 U.S.C. 80b et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/80b" }, { "text": "15 U.S.C. 78aaa et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/78aaa" }, { "text": "chapter 53", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/31/53" }, { "text": "Public Law 91–508", "legal-doc": "public-law", "parsable-cite": "pl/91/508" }, { "text": "12 U.S.C. 1951 et seq.", "legal-doc": "usc", "parsable-cite": "usc/12/1951" }, { "text": "12 U.S.C. 1829b", "legal-doc": "usc", "parsable-cite": "usc/12/1829b" }, { "text": "Section 1514A(a)", "legal-doc": "usc", "parsable-cite": "usc/18/1514A" }, { "text": "15 U.S.C. 78l", "legal-doc": "usc", "parsable-cite": "usc/15/78l" }, { "text": "15 U.S.C. 78o(d)", "legal-doc": "usc", "parsable-cite": "usc/15/78o" }, { "text": "15 U.S.C. 80a–2(a)", "legal-doc": "usc", "parsable-cite": "usc/15/80a-2" } ] }, { "text": "201. Cost consolidation and clarity \n(a) Expense ratio computation \n(1) In general \nThe Commission shall, by rule, develop a standardized method of calculating the expense ratio of a registered investment company that accounts for as many operating costs to shareholders of such companies as is practicable. (2) Separate disclosures \nIn developing the method of calculation required under paragraph (1), if the Commission determines that the inclusion of certain costs in such calculation will lead to a significant risk of confusing or misleading shareholders, the Commission shall develop separate standardized methods for the calculation and disclosure of such costs. (b) Transaction cost ratio \nThe Commission shall, by rule, develop a standardized method of computing the transaction cost ratio of a registered investment company that practicably and fairly accounts for actual transaction costs to shareholders, including, at a minimum, brokerage commissions and bid-ask spread costs. Such computation, if necessary for ease of administration, may be based upon a fair method of estimation or a standardized derivation from easily ascertainable information. (c) Disclosure of expense ratio and transaction cost ratio \nThe Commission shall, by rule, require the prominent disclosure of the expense ratio and the transaction cost ratio of a registered company, both separately and as a total investment cost ratio, in— (1) each annual report of the registered investment company; (2) any prospectus of the registered investment company, as part of a fee table; and (3) such other filings with the Commission as the Commission determines appropriate. (d) Actual cost disclosure \nThe Commission shall, by rule, require, on at least an annual basis, the prominent disclosure in the shareholder account statement of a registered investment company of the actual dollar amount of the projected annual costs of each shareholder of the company, based upon the asset value of the shareholder at the time of the disclosure. (e) Definition of fees and expenses \n(1) In general \nThe Commission shall, by rule, define all specific allowable types or categories of fees and expenses that may be borne by the shareholders of a registered investment company. (2) New fees and expenses \nNo new fee or expense, other than any defined under paragraph (1), shall be borne by the shareholders of a registered investment company, unless the Commission finds that such new fee or expense fairly reflects the services provided to, or is in the best interests of the shareholders of— (A) a particular registered investment company; (B) specific types or categories of registered investment companies; or (C) registered investment companies in general. (f) Cost structures \nThe Commission shall promulgate such rules or regulations as are necessary— (1) to promote the standardization and simplification of the disclosure of the cost structures of registered investment companies; and (2) to ensure that the shareholders of such registered investment companies receive all material information regarding such costs— (A) in a nonmisleading manner; and (B) in such form and prominence as to facilitate, to the extent practicable, ease of comprehension and comparison of such costs. (g) Descriptions of fees, expenses, and costs \nThe Commission shall, by rule, require— (1) the disclosure, in any annual or periodic report filed with the Commission or any prospectus delivered to the shareholders of a registered investment company, of all types of fees, expenses, or costs borne by shareholders; (2) a clear definition of each such fee, expense, or cost; and (3) information as to where shareholders may find out more information concerning such fees, expenses, or costs.", "id": "H102DF9CA43F74F0E372F08A9CC45E74", "header": "Cost consolidation and clarity", "nested": [ { "text": "(a) Expense ratio computation \n(1) In general \nThe Commission shall, by rule, develop a standardized method of calculating the expense ratio of a registered investment company that accounts for as many operating costs to shareholders of such companies as is practicable. (2) Separate disclosures \nIn developing the method of calculation required under paragraph (1), if the Commission determines that the inclusion of certain costs in such calculation will lead to a significant risk of confusing or misleading shareholders, the Commission shall develop separate standardized methods for the calculation and disclosure of such costs.", "id": "HB378597E47C7C5C4E98CFF871CDAB91", "header": "Expense ratio computation", "nested": [], "links": [] }, { "text": "(b) Transaction cost ratio \nThe Commission shall, by rule, develop a standardized method of computing the transaction cost ratio of a registered investment company that practicably and fairly accounts for actual transaction costs to shareholders, including, at a minimum, brokerage commissions and bid-ask spread costs. Such computation, if necessary for ease of administration, may be based upon a fair method of estimation or a standardized derivation from easily ascertainable information.", "id": "H1F377ED948154E4236131392B36DE20", "header": "Transaction cost ratio", "nested": [], "links": [] }, { "text": "(c) Disclosure of expense ratio and transaction cost ratio \nThe Commission shall, by rule, require the prominent disclosure of the expense ratio and the transaction cost ratio of a registered company, both separately and as a total investment cost ratio, in— (1) each annual report of the registered investment company; (2) any prospectus of the registered investment company, as part of a fee table; and (3) such other filings with the Commission as the Commission determines appropriate.", "id": "H82F76528481E2FFF82FFDB92E4C0000", "header": "Disclosure of expense ratio and transaction cost ratio", "nested": [], "links": [] }, { "text": "(d) Actual cost disclosure \nThe Commission shall, by rule, require, on at least an annual basis, the prominent disclosure in the shareholder account statement of a registered investment company of the actual dollar amount of the projected annual costs of each shareholder of the company, based upon the asset value of the shareholder at the time of the disclosure.", "id": "H0C2CC6834525CC35B63CA99F0857F8F", "header": "Actual cost disclosure", "nested": [], "links": [] }, { "text": "(e) Definition of fees and expenses \n(1) In general \nThe Commission shall, by rule, define all specific allowable types or categories of fees and expenses that may be borne by the shareholders of a registered investment company. (2) New fees and expenses \nNo new fee or expense, other than any defined under paragraph (1), shall be borne by the shareholders of a registered investment company, unless the Commission finds that such new fee or expense fairly reflects the services provided to, or is in the best interests of the shareholders of— (A) a particular registered investment company; (B) specific types or categories of registered investment companies; or (C) registered investment companies in general.", "id": "HABF42CA34AE7F295FD26C99C41FCFB5", "header": "Definition of fees and expenses", "nested": [], "links": [] }, { "text": "(f) Cost structures \nThe Commission shall promulgate such rules or regulations as are necessary— (1) to promote the standardization and simplification of the disclosure of the cost structures of registered investment companies; and (2) to ensure that the shareholders of such registered investment companies receive all material information regarding such costs— (A) in a nonmisleading manner; and (B) in such form and prominence as to facilitate, to the extent practicable, ease of comprehension and comparison of such costs.", "id": "H316312234C8F30284677BAAECAEB4A5", "header": "Cost structures", "nested": [], "links": [] }, { "text": "(g) Descriptions of fees, expenses, and costs \nThe Commission shall, by rule, require— (1) the disclosure, in any annual or periodic report filed with the Commission or any prospectus delivered to the shareholders of a registered investment company, of all types of fees, expenses, or costs borne by shareholders; (2) a clear definition of each such fee, expense, or cost; and (3) information as to where shareholders may find out more information concerning such fees, expenses, or costs.", "id": "H253B40614472FA6879F6A9A69F75C26", "header": "Descriptions of fees, expenses, and costs", "nested": [], "links": [] } ], "links": [] }, { "text": "202. Advisor compensation and ownership of fund shares \n(a) Compensation of investment adviser \nThe Commission shall, by rule, require— (1) the disclosure to the shareholders of a registered investment company of— (A) the amount and structure of, or the method used to determine, the compensation paid by the registered investment company to the portfolio manager or portfolio management team of the investment adviser; and (B) the ownership interest in such company of the portfolio manager or portfolio management team; and (2) the disclosure to the board of directors of the registered investment company of all transactions in the securities of the company by the portfolio manager or management team of the investment adviser of such company. (b) Form of disclosure \nThe disclosures required under subparagraphs (A) and (B) of subsection (a)(1) shall be made by a registered investment company in— (1) the registration statement of the company; and (2) any other filings with the Commission that the Commission determines appropriate.", "id": "H8D31FD3C442265D0A33E1381F602E4C", "header": "Advisor compensation and ownership of fund shares", "nested": [ { "text": "(a) Compensation of investment adviser \nThe Commission shall, by rule, require— (1) the disclosure to the shareholders of a registered investment company of— (A) the amount and structure of, or the method used to determine, the compensation paid by the registered investment company to the portfolio manager or portfolio management team of the investment adviser; and (B) the ownership interest in such company of the portfolio manager or portfolio management team; and (2) the disclosure to the board of directors of the registered investment company of all transactions in the securities of the company by the portfolio manager or management team of the investment adviser of such company.", "id": "HDA5B08404A81EFD176AEE89AA2AAEB5", "header": "Compensation of investment adviser", "nested": [], "links": [] }, { "text": "(b) Form of disclosure \nThe disclosures required under subparagraphs (A) and (B) of subsection (a)(1) shall be made by a registered investment company in— (1) the registration statement of the company; and (2) any other filings with the Commission that the Commission determines appropriate.", "id": "HE8E70CF24EB92D0A801DBAA1F06F800", "header": "Form of disclosure", "nested": [], "links": [] } ], "links": [] }, { "text": "203. Point of sale and additional disclosure of broker compensation \nSection 15(b) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78o(b) ) is amended by adding at the end the following: (11) Broker disclosures in mutual fund transactions \n(A) In general \nEach broker shall disclose in writing to each person that purchases the shares of an investment company registered under section 8 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–8 )— (i) the source and amount of any compensation received or to be received by the broker in connection with such transaction; and (ii) such other information as the Commission determines appropriate. (B) Timing of disclosure \nThe disclosures required under subparagraph (A) shall be made at or before the time of the purchase transaction. (C) Limitation \nThe disclosures required under subparagraph (A) may not be made exclusively in— (i) a registration statement or prospectus of the registered investment company; or (ii) any other filing of a registered investment company with the Commission..", "id": "HFA92BCDD45AF3562E2A0FCA4D2F3E8D", "header": "Point of sale and additional disclosure of broker compensation", "nested": [], "links": [ { "text": "15 U.S.C. 78o(b)", "legal-doc": "usc", "parsable-cite": "usc/15/78o" }, { "text": "15 U.S.C. 80a–8", "legal-doc": "usc", "parsable-cite": "usc/15/80a-8" } ] }, { "text": "204. Breakpoint discounts \nThe Commission, by rule, shall require the disclosure by any registered investment company, in any quarterly or other periodic report filed with the Commission, information concerning discounts on front-end sales loads for which shareholders may be eligible, including the minimum purchase amounts required for such discounts.", "id": "HE9AC3AA2464865500CDB5A965D168FF", "header": "Breakpoint discounts", "nested": [], "links": [] }, { "text": "205. Portfolio turnover ratio \nThe Commission, by rule, shall require the disclosure, by any registered investment company, in any quarterly or periodic report filed with the Commission, and in any prospectus delivered to the shareholders of such company, of the portfolio turnover ratio of the company, and an explanation of its meaning and implications for cost and performance. Such rules shall require the disclosures to be prominently displayed within the appropriate document.", "id": "H46F8547E459DDD2A29CF15955C81DE5", "header": "Portfolio turnover ratio", "nested": [], "links": [] }, { "text": "206. Proxy voting policies and record \nSection 30 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–29 ) is amended by adding at the end the following: (k) Proxy voting disclosure \n(1) In general \nEach registered investment company, other than a small business investment company, shall file with the Commission, not later than August 31 of each year, an annual report, on a form prescribed by the Commission by rule, containing the proxy voting record of the registrant and policies of the company with respect to the voting of such proxies for the most recent 12-month period ending on June 30. (2) Notice in financial statements \nThe financial statements of each registered investment company shall state that information regarding how the company voted proxies and proxy voting policies relating to portfolio securities during the most recent 12-month period ending on June 30 is available— (A) without charge, upon request, by calling a specified toll-free (or collect) telephone number; or on or through the company’s website at a specified Internet address, or both; and (B) on the website of the Commission..", "id": "H25DAC87D4D9F82FD9AF349889F1CD84", "header": "Proxy voting policies and record", "nested": [], "links": [ { "text": "15 U.S.C. 80a–29", "legal-doc": "usc", "parsable-cite": "usc/15/80a-29" } ] }, { "text": "207. Customer information from account intermediaries \n(a) In general \nThe Commission shall, by rule, require that each account intermediary of a registered investment company provide to such company, with respect to each account serviced by the intermediary, such information as is necessary for the company to enforce its investment, trading, and fee policies. (b) Requirements \nThe information provided by a registered investment company under subsection (a) shall include, at a minimum— (1) the name under which the account is opened with the intermediary; (2) the taxpayer identification number of such person; (3) the mailing address of such person; and (4) individual transaction data for all purchases, redemptions, transfers, and exchanges by or on behalf of such person. (c) Privacy of information \nThe information provided under subsection (a), and the use thereof, shall be subject to all Federal and State laws with regard to privacy and proprietary information.", "id": "HAE6BF376496816C1966561AB5F00CCA", "header": "Customer information from account intermediaries", "nested": [ { "text": "(a) In general \nThe Commission shall, by rule, require that each account intermediary of a registered investment company provide to such company, with respect to each account serviced by the intermediary, such information as is necessary for the company to enforce its investment, trading, and fee policies.", "id": "HADD135C349A566C8FCB704A9DB9B88F", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Requirements \nThe information provided by a registered investment company under subsection (a) shall include, at a minimum— (1) the name under which the account is opened with the intermediary; (2) the taxpayer identification number of such person; (3) the mailing address of such person; and (4) individual transaction data for all purchases, redemptions, transfers, and exchanges by or on behalf of such person.", "id": "HE043132A47754C96B782A8B1D9D268D", "header": "Requirements", "nested": [], "links": [] }, { "text": "(c) Privacy of information \nThe information provided under subsection (a), and the use thereof, shall be subject to all Federal and State laws with regard to privacy and proprietary information.", "id": "H21F55DDA408EF8DE239ACC8AFBEFCA2", "header": "Privacy of information", "nested": [], "links": [] } ], "links": [] }, { "text": "208. Advertising \n(a) Performance advertising \nThe Commission shall promulgate such rules as the Commission determines necessary with respect to the advertising of a registered investment company regarding— (1) unrepresentative short-term performance; (2) performance based upon an undisclosed or improbable event; and (3) performance based upon incomplete or misleading data. (b) Dollar and time-weighted returns \n(1) In general \nSubject to paragraph (2), the Commission shall, by rule, require each registered investment company to disclose, in its annual report and any prospectus delivered to shareholders, dollar-weighted returns and time-weighted returns for each of— (A) the preceding fiscal year; (B) the preceding 5 fiscal years; (C) the preceding 10 fiscal years; and (D) the life of the company. (2) Exception \nThe Commission may omit or require additional disclosures required under paragraph (1) for such time periods as the Commission determines necessary. (3) Commission use of benchmarks \nThe Commission may require, in the interest of facilitating non-misleading disclosures, that any performance-related advertising by a registered investment company be accompanied by such benchmarks as the Commission may deem appropriate. (c) Subsidized yields \nThe Commission shall, by rule, require that any registered investment company that discloses in any publication a subsidized yield to disclose in the same publication the amount and duration of such subsidy.", "id": "HFF85766D4E1A83E8714F4A900000FAD", "header": "Advertising", "nested": [ { "text": "(a) Performance advertising \nThe Commission shall promulgate such rules as the Commission determines necessary with respect to the advertising of a registered investment company regarding— (1) unrepresentative short-term performance; (2) performance based upon an undisclosed or improbable event; and (3) performance based upon incomplete or misleading data.", "id": "HDAB168394C7399EE464232818CD8E00", "header": "Performance advertising", "nested": [], "links": [] }, { "text": "(b) Dollar and time-weighted returns \n(1) In general \nSubject to paragraph (2), the Commission shall, by rule, require each registered investment company to disclose, in its annual report and any prospectus delivered to shareholders, dollar-weighted returns and time-weighted returns for each of— (A) the preceding fiscal year; (B) the preceding 5 fiscal years; (C) the preceding 10 fiscal years; and (D) the life of the company. (2) Exception \nThe Commission may omit or require additional disclosures required under paragraph (1) for such time periods as the Commission determines necessary. (3) Commission use of benchmarks \nThe Commission may require, in the interest of facilitating non-misleading disclosures, that any performance-related advertising by a registered investment company be accompanied by such benchmarks as the Commission may deem appropriate.", "id": "HC2CC14A04CF10E7DDA18548AFDFAF93", "header": "Dollar and time-weighted returns", "nested": [], "links": [] }, { "text": "(c) Subsidized yields \nThe Commission shall, by rule, require that any registered investment company that discloses in any publication a subsidized yield to disclose in the same publication the amount and duration of such subsidy.", "id": "HA3900E5F44AB3C029185DE92A6BFA8D", "header": "Subsidized yields", "nested": [], "links": [] } ], "links": [] }, { "text": "301. Prohibition of asset-based distribution expenses \n(a) Repeal of rule 12b–1 \n(1) In general \nBeginning 180 days after the date of enactment of this Act (or such earlier time as the Commission may elect), as in effect on the date of enactment of this Act, section 270.12b–1 of chapter II of title 17 of the Code of Federal Regulations, promulgated under section 12 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–12 ), is repealed, and shall have no force or effect. (2) Preservation of actions \nParagraph (1) shall have no effect on any case pending or penalty imposed under section 270.12b–1 of the Code of Federal Regulations prior to the date of repeal under paragraph (1). (b) Payment of distribution expenses from management fee \nSection 12 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–12 ) is amended by adding at the end the following: (h) Payment of distribution expenses \nNotwithstanding any provision of subsection (b), or any rule or regulation promulgated thereunder, distribution expenses incurred by an investment adviser may be paid out of the management fee received by the investment adviser.. (c) Sums expended promoting sale of securities \nThe Commission shall, by rule— (1) require that any sums expended by the investment adviser of a registered investment company to promote or facilitate the sale of the securities of such company be disclosed to the board of directors of the company; (2) require that such sums be accounted for and identified in the expense ratio of any such company; and (3) authorize the board of directors of any such company to prohibit its investment adviser from using any compensation received from the company for distribution expenses that the board determines not to be in the best interest of the shareholders of the company. (d) Prohibition of asset-based fees \nSection 12 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–12 ), as amended by subsection (a), is amended by adding at the end the following: (i) Asset-based fees \n(1) In general \nIt shall be unlawful for any registered investment company to pay asset-based fees to any broker or dealer in connection with the offer or sale of the securities of such investment company. (2) Definition of asset-based fees \nThe Commission shall, by rule, define the term asset-based fees for purposes of this subsection..", "id": "H49A03FC04CC5E7786CBE018D826DBA3", "header": "Prohibition of asset-based distribution expenses", "nested": [ { "text": "(a) Repeal of rule 12b–1 \n(1) In general \nBeginning 180 days after the date of enactment of this Act (or such earlier time as the Commission may elect), as in effect on the date of enactment of this Act, section 270.12b–1 of chapter II of title 17 of the Code of Federal Regulations, promulgated under section 12 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–12 ), is repealed, and shall have no force or effect. (2) Preservation of actions \nParagraph (1) shall have no effect on any case pending or penalty imposed under section 270.12b–1 of the Code of Federal Regulations prior to the date of repeal under paragraph (1).", "id": "HA897AB69403EFC00A1A6F3B600E007C", "header": "Repeal of rule 12b–1", "nested": [], "links": [ { "text": "15 U.S.C. 80a–12", "legal-doc": "usc", "parsable-cite": "usc/15/80a-12" } ] }, { "text": "(b) Payment of distribution expenses from management fee \nSection 12 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–12 ) is amended by adding at the end the following: (h) Payment of distribution expenses \nNotwithstanding any provision of subsection (b), or any rule or regulation promulgated thereunder, distribution expenses incurred by an investment adviser may be paid out of the management fee received by the investment adviser..", "id": "HA7F358874C717257BDD62698DF99E54", "header": "Payment of distribution expenses from management fee", "nested": [], "links": [ { "text": "15 U.S.C. 80a–12", "legal-doc": "usc", "parsable-cite": "usc/15/80a-12" } ] }, { "text": "(c) Sums expended promoting sale of securities \nThe Commission shall, by rule— (1) require that any sums expended by the investment adviser of a registered investment company to promote or facilitate the sale of the securities of such company be disclosed to the board of directors of the company; (2) require that such sums be accounted for and identified in the expense ratio of any such company; and (3) authorize the board of directors of any such company to prohibit its investment adviser from using any compensation received from the company for distribution expenses that the board determines not to be in the best interest of the shareholders of the company.", "id": "HF2D4DCFA40E82B88CE5B578DFB6F8FA", "header": "Sums expended promoting sale of securities", "nested": [], "links": [] }, { "text": "(d) Prohibition of asset-based fees \nSection 12 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–12 ), as amended by subsection (a), is amended by adding at the end the following: (i) Asset-based fees \n(1) In general \nIt shall be unlawful for any registered investment company to pay asset-based fees to any broker or dealer in connection with the offer or sale of the securities of such investment company. (2) Definition of asset-based fees \nThe Commission shall, by rule, define the term asset-based fees for purposes of this subsection..", "id": "H69FD0D8D4DD5742B39C508A82CA900B", "header": "Prohibition of asset-based fees", "nested": [], "links": [ { "text": "15 U.S.C. 80a–12", "legal-doc": "usc", "parsable-cite": "usc/15/80a-12" } ] } ], "links": [ { "text": "15 U.S.C. 80a–12", "legal-doc": "usc", "parsable-cite": "usc/15/80a-12" }, { "text": "15 U.S.C. 80a–12", "legal-doc": "usc", "parsable-cite": "usc/15/80a-12" }, { "text": "15 U.S.C. 80a–12", "legal-doc": "usc", "parsable-cite": "usc/15/80a-12" } ] }, { "text": "302. Prohibition on revenue sharing, directed brokerage, and soft dollar arrangements \n(a) In general \nThe Investment Company Act of 1940 ( 15 U.S.C. 80a–1 et seq. ) is amended by inserting after section 12 the following: 12A. Prohibition on revenue sharing, directed brokerage, and soft dollar arrangements \n(a) Revenue sharing arrangements \nIt shall be unlawful for any investment adviser to enter into a revenue sharing arrangement with any broker or dealer with respect to the securities of a registered investment company. (b) Directed brokerage arrangements \nIt shall be unlawful for any registered investment company, or any affiliate of such company, to enter into a directed brokerage arrangement with a broker or dealer. (c) Soft-dollar arrangements \nIt shall be unlawful for any registered investment company or registered investment adviser to enter into a soft-dollar arrangement with any broker or dealer. (d) Regulations respecting Section 28(E) of the Securities Exchange Act of 1934 \nThe Commission shall, by rule, narrow the soft-dollar safe harbor under section 28(e) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78bb(e)(1) ) to promote such parity as the Commission determines appropriate, and in the best interests of shareholders of a registered investment company, between registered investment companies governed by section 12A, and companies not covered by section 12A. (e) Definitions \n(1) In general \nIn this section— (A) the term directed brokerage arrangement means the direction of discretionary brokerage by an investment company or an affiliate of that company, to a broker or dealer in exchange for services other than trade executions; (B) the term revenue sharing arrangement means any direct or indirect payment made by an investment adviser (or any affiliate of an investment adviser) to a broker or dealer for the purpose of promoting the sales of securities of a registered investment company, other than any payment made directly by a shareholder as a commission for the purchase of such securities; (C) the term soft-dollar arrangement means payments to a broker or dealer for best trade executions in exchange for, or which generate credits for, services or products other than trade executions; and (D) the term trade executions has the meaning given that term by the Commission, by rule; (2) Regulations \nThe Commission may, by rule, refine the definitions under paragraph (1), define such other terms as the Commission determines necessary, and otherwise tailor the proscriptions set forth under this section to achieve the purposes of— (A) protecting the best interests of shareholders of a registered investment company; (B) minimizing or eliminating conflicts with the best interests of shareholders of a registered investment company; (C) enhancing market negotiation for and price competition in trade execution services, and products and services previously obtained under arrangements prohibited by this section; (D) ensuring the transparency of transactions for trade executions, and products and services previously obtained under arrangements prohibited by this section, and disclosure to shareholders of costs associated with trade executions, and products and services previously obtained under arrangements prohibited by this section, that is simplified, clear, and comprehensible; and (E) providing reasonable safe harbors for conduct otherwise consistent with such purposes.. (b) Technical and conforming amendment \nSection 28(e)(1) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78bb(e)(1) ) is amended by striking This section is exclusive and inserting Except as provided under section 12A of the Investment Company Act of 1940 , this section is exclusive.", "id": "HC15FB71B424F3A737B7524B853AA2B1", "header": "Prohibition on revenue sharing, directed brokerage, and soft dollar arrangements", "nested": [ { "text": "(a) In general \nThe Investment Company Act of 1940 ( 15 U.S.C. 80a–1 et seq. ) is amended by inserting after section 12 the following: 12A. Prohibition on revenue sharing, directed brokerage, and soft dollar arrangements \n(a) Revenue sharing arrangements \nIt shall be unlawful for any investment adviser to enter into a revenue sharing arrangement with any broker or dealer with respect to the securities of a registered investment company. (b) Directed brokerage arrangements \nIt shall be unlawful for any registered investment company, or any affiliate of such company, to enter into a directed brokerage arrangement with a broker or dealer. (c) Soft-dollar arrangements \nIt shall be unlawful for any registered investment company or registered investment adviser to enter into a soft-dollar arrangement with any broker or dealer. (d) Regulations respecting Section 28(E) of the Securities Exchange Act of 1934 \nThe Commission shall, by rule, narrow the soft-dollar safe harbor under section 28(e) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78bb(e)(1) ) to promote such parity as the Commission determines appropriate, and in the best interests of shareholders of a registered investment company, between registered investment companies governed by section 12A, and companies not covered by section 12A. (e) Definitions \n(1) In general \nIn this section— (A) the term directed brokerage arrangement means the direction of discretionary brokerage by an investment company or an affiliate of that company, to a broker or dealer in exchange for services other than trade executions; (B) the term revenue sharing arrangement means any direct or indirect payment made by an investment adviser (or any affiliate of an investment adviser) to a broker or dealer for the purpose of promoting the sales of securities of a registered investment company, other than any payment made directly by a shareholder as a commission for the purchase of such securities; (C) the term soft-dollar arrangement means payments to a broker or dealer for best trade executions in exchange for, or which generate credits for, services or products other than trade executions; and (D) the term trade executions has the meaning given that term by the Commission, by rule; (2) Regulations \nThe Commission may, by rule, refine the definitions under paragraph (1), define such other terms as the Commission determines necessary, and otherwise tailor the proscriptions set forth under this section to achieve the purposes of— (A) protecting the best interests of shareholders of a registered investment company; (B) minimizing or eliminating conflicts with the best interests of shareholders of a registered investment company; (C) enhancing market negotiation for and price competition in trade execution services, and products and services previously obtained under arrangements prohibited by this section; (D) ensuring the transparency of transactions for trade executions, and products and services previously obtained under arrangements prohibited by this section, and disclosure to shareholders of costs associated with trade executions, and products and services previously obtained under arrangements prohibited by this section, that is simplified, clear, and comprehensible; and (E) providing reasonable safe harbors for conduct otherwise consistent with such purposes..", "id": "H9AA0DC374DBDBE12FD773299A8B42D9", "header": "In general", "nested": [], "links": [ { "text": "15 U.S.C. 80a–1 et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/80a-1" }, { "text": "15 U.S.C. 78bb(e)(1)", "legal-doc": "usc", "parsable-cite": "usc/15/78bb" } ] }, { "text": "(b) Technical and conforming amendment \nSection 28(e)(1) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78bb(e)(1) ) is amended by striking This section is exclusive and inserting Except as provided under section 12A of the Investment Company Act of 1940 , this section is exclusive.", "id": "H9C2E08444E0598E36B6DC7BCB617E1E", "header": "Technical and conforming amendment", "nested": [], "links": [ { "text": "15 U.S.C. 78bb(e)(1)", "legal-doc": "usc", "parsable-cite": "usc/15/78bb" } ] } ], "links": [ { "text": "15 U.S.C. 80a–1 et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/80a-1" }, { "text": "15 U.S.C. 78bb(e)(1)", "legal-doc": "usc", "parsable-cite": "usc/15/78bb" }, { "text": "15 U.S.C. 78bb(e)(1)", "legal-doc": "usc", "parsable-cite": "usc/15/78bb" } ] }, { "text": "12A. Prohibition on revenue sharing, directed brokerage, and soft dollar arrangements \n(a) Revenue sharing arrangements \nIt shall be unlawful for any investment adviser to enter into a revenue sharing arrangement with any broker or dealer with respect to the securities of a registered investment company. (b) Directed brokerage arrangements \nIt shall be unlawful for any registered investment company, or any affiliate of such company, to enter into a directed brokerage arrangement with a broker or dealer. (c) Soft-dollar arrangements \nIt shall be unlawful for any registered investment company or registered investment adviser to enter into a soft-dollar arrangement with any broker or dealer. (d) Regulations respecting Section 28(E) of the Securities Exchange Act of 1934 \nThe Commission shall, by rule, narrow the soft-dollar safe harbor under section 28(e) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78bb(e)(1) ) to promote such parity as the Commission determines appropriate, and in the best interests of shareholders of a registered investment company, between registered investment companies governed by section 12A, and companies not covered by section 12A. (e) Definitions \n(1) In general \nIn this section— (A) the term directed brokerage arrangement means the direction of discretionary brokerage by an investment company or an affiliate of that company, to a broker or dealer in exchange for services other than trade executions; (B) the term revenue sharing arrangement means any direct or indirect payment made by an investment adviser (or any affiliate of an investment adviser) to a broker or dealer for the purpose of promoting the sales of securities of a registered investment company, other than any payment made directly by a shareholder as a commission for the purchase of such securities; (C) the term soft-dollar arrangement means payments to a broker or dealer for best trade executions in exchange for, or which generate credits for, services or products other than trade executions; and (D) the term trade executions has the meaning given that term by the Commission, by rule; (2) Regulations \nThe Commission may, by rule, refine the definitions under paragraph (1), define such other terms as the Commission determines necessary, and otherwise tailor the proscriptions set forth under this section to achieve the purposes of— (A) protecting the best interests of shareholders of a registered investment company; (B) minimizing or eliminating conflicts with the best interests of shareholders of a registered investment company; (C) enhancing market negotiation for and price competition in trade execution services, and products and services previously obtained under arrangements prohibited by this section; (D) ensuring the transparency of transactions for trade executions, and products and services previously obtained under arrangements prohibited by this section, and disclosure to shareholders of costs associated with trade executions, and products and services previously obtained under arrangements prohibited by this section, that is simplified, clear, and comprehensible; and (E) providing reasonable safe harbors for conduct otherwise consistent with such purposes.", "id": "HC5D963CA4701425F6849289FD6CD35C", "header": "Prohibition on revenue sharing, directed brokerage, and soft dollar arrangements", "nested": [ { "text": "(a) Revenue sharing arrangements \nIt shall be unlawful for any investment adviser to enter into a revenue sharing arrangement with any broker or dealer with respect to the securities of a registered investment company.", "id": "HFBEF9C42456FEAB1FEC6ADAAB3200D8", "header": "Revenue sharing arrangements", "nested": [], "links": [] }, { "text": "(b) Directed brokerage arrangements \nIt shall be unlawful for any registered investment company, or any affiliate of such company, to enter into a directed brokerage arrangement with a broker or dealer.", "id": "H2895543B4F8B836DFE9F98B5F378245", "header": "Directed brokerage arrangements", "nested": [], "links": [] }, { "text": "(c) Soft-dollar arrangements \nIt shall be unlawful for any registered investment company or registered investment adviser to enter into a soft-dollar arrangement with any broker or dealer.", "id": "H4EC7520C4CBCCFB6C0822E92E7695B4", "header": "Soft-dollar arrangements", "nested": [], "links": [] }, { "text": "(d) Regulations respecting Section 28(E) of the Securities Exchange Act of 1934 \nThe Commission shall, by rule, narrow the soft-dollar safe harbor under section 28(e) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78bb(e)(1) ) to promote such parity as the Commission determines appropriate, and in the best interests of shareholders of a registered investment company, between registered investment companies governed by section 12A, and companies not covered by section 12A.", "id": "HAD4D9CFB48D48B784759FE8D113999F", "header": "Regulations respecting Section 28(E) of the Securities Exchange Act of 1934", "nested": [], "links": [ { "text": "15 U.S.C. 78bb(e)(1)", "legal-doc": "usc", "parsable-cite": "usc/15/78bb" } ] }, { "text": "(e) Definitions \n(1) In general \nIn this section— (A) the term directed brokerage arrangement means the direction of discretionary brokerage by an investment company or an affiliate of that company, to a broker or dealer in exchange for services other than trade executions; (B) the term revenue sharing arrangement means any direct or indirect payment made by an investment adviser (or any affiliate of an investment adviser) to a broker or dealer for the purpose of promoting the sales of securities of a registered investment company, other than any payment made directly by a shareholder as a commission for the purchase of such securities; (C) the term soft-dollar arrangement means payments to a broker or dealer for best trade executions in exchange for, or which generate credits for, services or products other than trade executions; and (D) the term trade executions has the meaning given that term by the Commission, by rule; (2) Regulations \nThe Commission may, by rule, refine the definitions under paragraph (1), define such other terms as the Commission determines necessary, and otherwise tailor the proscriptions set forth under this section to achieve the purposes of— (A) protecting the best interests of shareholders of a registered investment company; (B) minimizing or eliminating conflicts with the best interests of shareholders of a registered investment company; (C) enhancing market negotiation for and price competition in trade execution services, and products and services previously obtained under arrangements prohibited by this section; (D) ensuring the transparency of transactions for trade executions, and products and services previously obtained under arrangements prohibited by this section, and disclosure to shareholders of costs associated with trade executions, and products and services previously obtained under arrangements prohibited by this section, that is simplified, clear, and comprehensible; and (E) providing reasonable safe harbors for conduct otherwise consistent with such purposes.", "id": "H60437B8C4F96D9A44518F0B2E1B414C", "header": "Definitions", "nested": [], "links": [] } ], "links": [ { "text": "15 U.S.C. 78bb(e)(1)", "legal-doc": "usc", "parsable-cite": "usc/15/78bb" } ] }, { "text": "303. Market timing \n(a) In general \nThe Commission shall, by rule, require— (1) the disclosure in any registration statement filed with the Commission by a registered investment company of the market timing policies of that company and the procedures adopted to enforce such policies; and (2) that any registered investment company that declines to adopt restrictions on market timing disclose such fact in the registration statement of the company, and in any advertising or other publicly available documents, as the Commission determines necessary. (b) Fundamental investment policy \nThe policies required to be disclosed under paragraph (1) shall be deemed fundamental investment policies for purposes of sections 8(b)(3) and 13(a)(3) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–8(b)(3) and 80a–13(a)(3)).", "id": "HF7797F3345254514978EFC8ABC6ED4D", "header": "Market timing", "nested": [ { "text": "(a) In general \nThe Commission shall, by rule, require— (1) the disclosure in any registration statement filed with the Commission by a registered investment company of the market timing policies of that company and the procedures adopted to enforce such policies; and (2) that any registered investment company that declines to adopt restrictions on market timing disclose such fact in the registration statement of the company, and in any advertising or other publicly available documents, as the Commission determines necessary.", "id": "HA8711604497EF7DB10967382505DCCC", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Fundamental investment policy \nThe policies required to be disclosed under paragraph (1) shall be deemed fundamental investment policies for purposes of sections 8(b)(3) and 13(a)(3) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–8(b)(3) and 80a–13(a)(3)).", "id": "H80F6F40847A7DEF4BA1E6BB84293A5D", "header": "Fundamental investment policy", "nested": [], "links": [ { "text": "15 U.S.C. 80a–8(b)(3)", "legal-doc": "usc", "parsable-cite": "usc/15/80a-8" } ] } ], "links": [ { "text": "15 U.S.C. 80a–8(b)(3)", "legal-doc": "usc", "parsable-cite": "usc/15/80a-8" } ] }, { "text": "304. Elimination of stale prices \n(a) In general \nNot later than 90 days after the date of enactment of this Act, the Commission shall prescribe, by rule or regulation, standards concerning the obligation of registered investment companies under the Investment Company Act of 1940 , to apply and use fair value methods of determination of net asset value when market quotations are unavailable or do not accurately reflect the fair market value of the portfolio securities of such a company, in order to prevent dilution of the interests of long-term shareholders or as necessary in the public interest or for the protection of shareholders. (b) Content \nThe rule or regulation prescribed under subsection (a) shall identify, in addition to significant events, the conditions or circumstances from which such an obligation will arise, such as the need to value securities traded on foreign exchanges, and the methods by which fair value methods shall be applied in such events, conditions, and circumstances.", "id": "HEC9D591A4174B5D9568BB1B94DE0012", "header": "Elimination of stale prices", "nested": [ { "text": "(a) In general \nNot later than 90 days after the date of enactment of this Act, the Commission shall prescribe, by rule or regulation, standards concerning the obligation of registered investment companies under the Investment Company Act of 1940 , to apply and use fair value methods of determination of net asset value when market quotations are unavailable or do not accurately reflect the fair market value of the portfolio securities of such a company, in order to prevent dilution of the interests of long-term shareholders or as necessary in the public interest or for the protection of shareholders.", "id": "H12CBEEFB4C71819DEB9A1DA01380DDA", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Content \nThe rule or regulation prescribed under subsection (a) shall identify, in addition to significant events, the conditions or circumstances from which such an obligation will arise, such as the need to value securities traded on foreign exchanges, and the methods by which fair value methods shall be applied in such events, conditions, and circumstances.", "id": "HACA39F9C4675056B422A86AC64B8885", "header": "Content", "nested": [], "links": [] } ], "links": [] }, { "text": "305. Prohibition of short term trading; mandatory redemption fees \n(a) Short-term trading prohibited \nSection 17 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–17 ) is amended by adding at the end the following: (k) Short-term trading prohibited \n(1) Prohibition \nIt shall be unlawful for any officer, director, partner, or employee of a registered investment company, any affiliated person, investment adviser, or principal underwriter of such company, or any officer, director, partner, or employee of such an affiliated person, investment adviser, or principal underwriter, to engage in any short-term transaction, in any securities issued by such company, or any affiliate of such company. (2) Limitation \nThis subsection does not prohibit any transaction in a money market fund, or in funds, the investment policy of which expressly permits short-term transactions, or such other category of registered investment company as the Commission shall specify, by rule. (3) Definition \nFor purposes of this subsection, the term short-term transaction has the meaning given that term by the Commission, by rule.. (b) Mandatory redemption fees \nThe Commission shall, by rule, require any registered investment company that does not allow for market timing practices to charge a redemption fee upon the short-term redemption of any securities of such company. In determining the application of mandatory redemption fees, shares shall be considered in the reverse order of their purchase. (c) Increased redemption fees permitted for short-term trading \nNot later than 90 days after the date of enactment of this Act, the Commission shall permit a registered investment company to charge redemption fees in excess of 2 percent upon the redemption of any securities of such company that are redeemed within such period after their purchase as the Commission specifies in such rule to deter short term trading that is unfair to the shareholders of such company. (d) Deadline for rules \nThe Commission shall prescribe rules to implement section 17(k) of the Investment Company Act of 1940 , as added by subsection (a) of this section, not later than 90 days after the date of enactment of this Act.", "id": "H900D7090442C6373C9D7B281C4F4EC6", "header": "Prohibition of short term trading; mandatory redemption fees", "nested": [ { "text": "(a) Short-term trading prohibited \nSection 17 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–17 ) is amended by adding at the end the following: (k) Short-term trading prohibited \n(1) Prohibition \nIt shall be unlawful for any officer, director, partner, or employee of a registered investment company, any affiliated person, investment adviser, or principal underwriter of such company, or any officer, director, partner, or employee of such an affiliated person, investment adviser, or principal underwriter, to engage in any short-term transaction, in any securities issued by such company, or any affiliate of such company. (2) Limitation \nThis subsection does not prohibit any transaction in a money market fund, or in funds, the investment policy of which expressly permits short-term transactions, or such other category of registered investment company as the Commission shall specify, by rule. (3) Definition \nFor purposes of this subsection, the term short-term transaction has the meaning given that term by the Commission, by rule..", "id": "HE3916D0B48C269939AC3FCA359DCB95", "header": "Short-term trading prohibited", "nested": [], "links": [ { "text": "15 U.S.C. 80a–17", "legal-doc": "usc", "parsable-cite": "usc/15/80a-17" } ] }, { "text": "(b) Mandatory redemption fees \nThe Commission shall, by rule, require any registered investment company that does not allow for market timing practices to charge a redemption fee upon the short-term redemption of any securities of such company. In determining the application of mandatory redemption fees, shares shall be considered in the reverse order of their purchase.", "id": "H082EC5CB470A22B9B009E7BDE8E4C97", "header": "Mandatory redemption fees", "nested": [], "links": [] }, { "text": "(c) Increased redemption fees permitted for short-term trading \nNot later than 90 days after the date of enactment of this Act, the Commission shall permit a registered investment company to charge redemption fees in excess of 2 percent upon the redemption of any securities of such company that are redeemed within such period after their purchase as the Commission specifies in such rule to deter short term trading that is unfair to the shareholders of such company.", "id": "H4B3F6B6648EBDBA948856D9E331F11B", "header": "Increased redemption fees permitted for short-term trading", "nested": [], "links": [] }, { "text": "(d) Deadline for rules \nThe Commission shall prescribe rules to implement section 17(k) of the Investment Company Act of 1940 , as added by subsection (a) of this section, not later than 90 days after the date of enactment of this Act.", "id": "H4F0778D646FE16CB04C141BAF073670", "header": "Deadline for rules", "nested": [], "links": [] } ], "links": [ { "text": "15 U.S.C. 80a–17", "legal-doc": "usc", "parsable-cite": "usc/15/80a-17" } ] }, { "text": "306. Prevention of after-hours trading \n(a) Additional rules required \nThe Commission shall issue rules to prevent transactions in the securities of any registered investment company in violation of section 22 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–22 ), including after-hours trades that are executed at a price based on a net asset value that was determined as of a time prior to the actual execution of the transaction. (b) Trades collected by intermediaries \nThe Commission shall determine the circumstances under which to permit, subject to rules of the Commission and an annual independent audit of such trades, the execution of after-hours trades that are provided to a registered investment company by a broker, dealer, retirement plan administrator, insurance company, or other intermediary, after the time as of which the net asset value was determined.", "id": "H2B09BD0640BD182298EE10B2ACCC5DB", "header": "Prevention of after-hours trading", "nested": [ { "text": "(a) Additional rules required \nThe Commission shall issue rules to prevent transactions in the securities of any registered investment company in violation of section 22 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–22 ), including after-hours trades that are executed at a price based on a net asset value that was determined as of a time prior to the actual execution of the transaction.", "id": "H47EB40AA46060C91A2518C9D19A7DCC", "header": "Additional rules required", "nested": [], "links": [ { "text": "15 U.S.C. 80a–22", "legal-doc": "usc", "parsable-cite": "usc/15/80a-22" } ] }, { "text": "(b) Trades collected by intermediaries \nThe Commission shall determine the circumstances under which to permit, subject to rules of the Commission and an annual independent audit of such trades, the execution of after-hours trades that are provided to a registered investment company by a broker, dealer, retirement plan administrator, insurance company, or other intermediary, after the time as of which the net asset value was determined.", "id": "H97D41D6B46202BB53045CAB998EEA39", "header": "Trades collected by intermediaries", "nested": [], "links": [] } ], "links": [ { "text": "15 U.S.C. 80a–22", "legal-doc": "usc", "parsable-cite": "usc/15/80a-22" } ] }, { "text": "307. Ban on joint management of mutual funds and hedge funds \n(a) Amendment \nSection 15 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–15 ) is amended by adding at the end the following: (h) Ban on joint management of mutual funds and hedge funds \n(1) Prohibition of joint management \nIt shall be unlawful for any individual to serve or act as the portfolio manager or investment adviser of a registered open-end investment company if such individual also serves or acts as the portfolio manager or investment adviser of an investment company that is not registered or of such other categories of companies as the Commission shall prescribe by rule in order to prohibit conflicts of interest, such as conflicts in the selection of the portfolio securities. (2) Exceptions \nNotwithstanding paragraph (1), the Commission may, by rule, regulation, or order, permit joint management by a portfolio manager in exceptional circumstances when necessary to protect the interest of shareholders, provided that such rule, regulation, or order requires— (A) enhanced disclosure by the registered open-end investment company to shareholders of any conflicts of interest raised by such joint management; and (B) fair and equitable policies and procedures for the allocation of securities to the portfolios of the jointly managed companies, and certification by the members of the board of directors who are not interested persons of such registered open-end investment company, in the periodic report to shareholders, or other appropriate disclosure document, that such policies and procedures of such company are fair and equitable. (3) Definition \nFor purposes of this subsection, the term portfolio manager means the individual or individuals who are designated as responsible for decision-making in connection with the securities purchased and sold on behalf of a registered open-end investment company, but shall not include individuals who participate only in making research recommendations or executing transactions on behalf of such company.. (b) Deadline for rules \nThe Commission shall prescribe rules to implement section 15(h) of the Investment Company Act of 1940 , as added by subsection (a) of this section, not later than 90 days after the date of enactment of this Act.", "id": "H54DAB52341694E59DD317682A99DA0A", "header": "Ban on joint management of mutual funds and hedge funds", "nested": [ { "text": "(a) Amendment \nSection 15 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–15 ) is amended by adding at the end the following: (h) Ban on joint management of mutual funds and hedge funds \n(1) Prohibition of joint management \nIt shall be unlawful for any individual to serve or act as the portfolio manager or investment adviser of a registered open-end investment company if such individual also serves or acts as the portfolio manager or investment adviser of an investment company that is not registered or of such other categories of companies as the Commission shall prescribe by rule in order to prohibit conflicts of interest, such as conflicts in the selection of the portfolio securities. (2) Exceptions \nNotwithstanding paragraph (1), the Commission may, by rule, regulation, or order, permit joint management by a portfolio manager in exceptional circumstances when necessary to protect the interest of shareholders, provided that such rule, regulation, or order requires— (A) enhanced disclosure by the registered open-end investment company to shareholders of any conflicts of interest raised by such joint management; and (B) fair and equitable policies and procedures for the allocation of securities to the portfolios of the jointly managed companies, and certification by the members of the board of directors who are not interested persons of such registered open-end investment company, in the periodic report to shareholders, or other appropriate disclosure document, that such policies and procedures of such company are fair and equitable. (3) Definition \nFor purposes of this subsection, the term portfolio manager means the individual or individuals who are designated as responsible for decision-making in connection with the securities purchased and sold on behalf of a registered open-end investment company, but shall not include individuals who participate only in making research recommendations or executing transactions on behalf of such company..", "id": "H94A6484544AA401CE879C8B26916BF4", "header": "Amendment", "nested": [], "links": [ { "text": "15 U.S.C. 80a–15", "legal-doc": "usc", "parsable-cite": "usc/15/80a-15" } ] }, { "text": "(b) Deadline for rules \nThe Commission shall prescribe rules to implement section 15(h) of the Investment Company Act of 1940 , as added by subsection (a) of this section, not later than 90 days after the date of enactment of this Act.", "id": "HC567E5404703E82FEBA494819311B49", "header": "Deadline for rules", "nested": [], "links": [] } ], "links": [ { "text": "15 U.S.C. 80a–15", "legal-doc": "usc", "parsable-cite": "usc/15/80a-15" } ] }, { "text": "308. Selective disclosures \n(a) In general \nThe Commission shall promulgate such rules as the Commission determines necessary to prevent the selective disclosure by a registered investment company of material information relating to the portfolio of securities held by such company. (b) Requirements \nThe rules promulgated under subsection (a) shall treat selective disclosures of material information by a registered investment company in substantially the same manner as selective disclosures by issuers of securities registered under section 12 of the Securities Exchange Act of 1934 under the rules of the Commission.", "id": "HEEAF844C4F586A079927FA94C42EF31", "header": "Selective disclosures", "nested": [ { "text": "(a) In general \nThe Commission shall promulgate such rules as the Commission determines necessary to prevent the selective disclosure by a registered investment company of material information relating to the portfolio of securities held by such company.", "id": "H92E1F50642DAECD7E65BEBAB98381CC", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Requirements \nThe rules promulgated under subsection (a) shall treat selective disclosures of material information by a registered investment company in substantially the same manner as selective disclosures by issuers of securities registered under section 12 of the Securities Exchange Act of 1934 under the rules of the Commission.", "id": "HC34B87FF4ACD6A97F872C68B8742E9D", "header": "Requirements", "nested": [], "links": [] } ], "links": [] }, { "text": "401. Study of adviser conflict of interest \n(a) In general \nThe Commission shall conduct a study of— (1) the consequences of the inherent conflicts of interest confronting investment advisers employed by registered investment companies; (2) the extent to which legislative or regulatory measures could minimize such conflicts of interest; and (3) the extent to which legislative or regulatory measures could incentivize internal management of a registered investment company. (b) Report \nNot later than 1 year after the date of enactment of this Act, the Commission shall submit a report on the results of the study required under subsection (a) to— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Financial Services of the House of Representatives.", "id": "HAD715F3349B6647A4819228ED4AD1CD", "header": "Study of adviser conflict of interest", "nested": [ { "text": "(a) In general \nThe Commission shall conduct a study of— (1) the consequences of the inherent conflicts of interest confronting investment advisers employed by registered investment companies; (2) the extent to which legislative or regulatory measures could minimize such conflicts of interest; and (3) the extent to which legislative or regulatory measures could incentivize internal management of a registered investment company.", "id": "H3A2EEFB640A4F1FA17659BB3CE8A71D", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Report \nNot later than 1 year after the date of enactment of this Act, the Commission shall submit a report on the results of the study required under subsection (a) to— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Financial Services of the House of Representatives.", "id": "H0AA01DDF4E376E2B95EE3BAEBF22E82", "header": "Report", "nested": [], "links": [] } ], "links": [] }, { "text": "402. Study of coordination of enforcement efforts \n(a) In general \nThe Comptroller General of the United States, with the cooperation of the Commission, shall conduct a study of the coordination of enforcement efforts between— (1) the headquarters of the Commission; (2) the regional offices of the Commission; and (3) State regulatory and law enforcement agencies. (b) Report \nNot later than 1 year after the date of enactment of this Act, the Commission shall submit a report on the results of the study required under subsection (a) to— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Financial Services of the House of Representatives.", "id": "H4DA7EF0F4ED81EF0CBCC09B24611B07", "header": "Study of coordination of enforcement efforts", "nested": [ { "text": "(a) In general \nThe Comptroller General of the United States, with the cooperation of the Commission, shall conduct a study of the coordination of enforcement efforts between— (1) the headquarters of the Commission; (2) the regional offices of the Commission; and (3) State regulatory and law enforcement agencies.", "id": "H7FFAEAC44D1FE50F77B87CA91198CD1", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Report \nNot later than 1 year after the date of enactment of this Act, the Commission shall submit a report on the results of the study required under subsection (a) to— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Financial Services of the House of Representatives.", "id": "H525C02DF42562E2B5D94C4ACF51AD4D", "header": "Report", "nested": [], "links": [] } ], "links": [] }, { "text": "403. Study of Commission organizational structure \n(a) In general \nThe Comptroller General of the United States, with the cooperation of the Commission, shall conduct a study of— (1) the current organizational structure of the Commission with respect to the regulation of investment companies; (2) whether the organizational structure and resources of the Commission sufficiently credit the importance of oversight of investment companies to the 95 million investors in such companies within the United States; (3) whether certain organizational features of that structure, such as the separation of regulatory and enforcement functions, are sufficient to promote the optimal understanding of the current practices of investment companies; and (4) whether a separate regulatory entity would improve or impair effective oversight. (b) Report \nNot later than 1 year after the date of enactment of this Act, the Comptroller General shall submit a report on the results of the study required under subsection (a) to— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Financial Services of the House of Representatives.", "id": "HBAA40FCB4B76E3ACA9488D9926A0500", "header": "Study of Commission organizational structure", "nested": [ { "text": "(a) In general \nThe Comptroller General of the United States, with the cooperation of the Commission, shall conduct a study of— (1) the current organizational structure of the Commission with respect to the regulation of investment companies; (2) whether the organizational structure and resources of the Commission sufficiently credit the importance of oversight of investment companies to the 95 million investors in such companies within the United States; (3) whether certain organizational features of that structure, such as the separation of regulatory and enforcement functions, are sufficient to promote the optimal understanding of the current practices of investment companies; and (4) whether a separate regulatory entity would improve or impair effective oversight.", "id": "H1022844F4CE4C0BEB238C2B4B54EA00", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Report \nNot later than 1 year after the date of enactment of this Act, the Comptroller General shall submit a report on the results of the study required under subsection (a) to— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Financial Services of the House of Representatives.", "id": "H6450A8B0469B1675965CC089266EB33", "header": "Report", "nested": [], "links": [] } ], "links": [] }, { "text": "404. Trends in arbitration clauses \n(a) In general \nThe Commission shall conduct a study on the trends in arbitration clauses between brokers, dealers, and investors since December 31, 1995, and alternative means to avert the filing of claims in Federal or State courts. (b) Report \nNot later than 1 year after the date of enactment of this Act, the Commission shall submit a report on the results of the study required under subsection (a) to— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Financial Services of the House of Representatives.", "id": "H6A8C4FD34C6492CF23A90C85A97D60B", "header": "Trends in arbitration clauses", "nested": [ { "text": "(a) In general \nThe Commission shall conduct a study on the trends in arbitration clauses between brokers, dealers, and investors since December 31, 1995, and alternative means to avert the filing of claims in Federal or State courts.", "id": "HA8E1814C4207CD1C37AEBA946BB7007", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Report \nNot later than 1 year after the date of enactment of this Act, the Commission shall submit a report on the results of the study required under subsection (a) to— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Financial Services of the House of Representatives.", "id": "HCEFD9B654EEEF1D6A984BF8E92E0D00", "header": "Report", "nested": [], "links": [] } ], "links": [] }, { "text": "405. Hedge fund regulation \n(a) In general \nThe Commission shall conduct a study of whether additional regulation of alternative investment vehicles, such as hedge funds, is appropriate to deter the recurrence of trading abuses, manipulation of registered investment companies by unregistered investment companies, or other distortions that may harm investors in registered investment companies. (b) Report \nNot later than 1 year after the date of enactment of this Act, the Commission shall submit a report on the results of the study required under subsection (a) to— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Financial Services of the House of Representatives.", "id": "H3CDD8E874ADEB55106E11A9D59FFBCF", "header": "Hedge fund regulation", "nested": [ { "text": "(a) In general \nThe Commission shall conduct a study of whether additional regulation of alternative investment vehicles, such as hedge funds, is appropriate to deter the recurrence of trading abuses, manipulation of registered investment companies by unregistered investment companies, or other distortions that may harm investors in registered investment companies.", "id": "HC9E0B89E48D0D414283C1E898C7F4EB", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Report \nNot later than 1 year after the date of enactment of this Act, the Commission shall submit a report on the results of the study required under subsection (a) to— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Financial Services of the House of Representatives.", "id": "H34583E8E47B9FCA167F00F83D02CD00", "header": "Report", "nested": [], "links": [] } ], "links": [] }, { "text": "406. Investor education and the Internet \n(a) In general \nThe Commission shall conduct a study of— (1) the means of enhancing the role of the Internet in educating investors and providing timely information regarding laws, regulations, enforcement proceedings, and individual registered investment companies; (2) the feasibility of mandating that each registered investment company maintain a website on which shall be posted filings of the registered investment company with the Commission and any other material information related to the registered investment company; and (3) the means of ensuring that the EDGAR database maintained by the Commission is user-friendly and contains a search engine that facilitates the expeditious location of material information. (b) Report \nNot later than 1 year after the date of enactment of this Act, the Commission shall submit a report on the results of the study required under subsection (a) to— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Financial Services of the House of Representatives.", "id": "H50D3BC5C44D1FE4AFA8E49BD650033D", "header": "Investor education and the Internet", "nested": [ { "text": "(a) In general \nThe Commission shall conduct a study of— (1) the means of enhancing the role of the Internet in educating investors and providing timely information regarding laws, regulations, enforcement proceedings, and individual registered investment companies; (2) the feasibility of mandating that each registered investment company maintain a website on which shall be posted filings of the registered investment company with the Commission and any other material information related to the registered investment company; and (3) the means of ensuring that the EDGAR database maintained by the Commission is user-friendly and contains a search engine that facilitates the expeditious location of material information.", "id": "HA71A8BB84C7625720E9B4B8A5B97F57", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Report \nNot later than 1 year after the date of enactment of this Act, the Commission shall submit a report on the results of the study required under subsection (a) to— (1) the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2) the Committee on Financial Services of the House of Representatives.", "id": "HCEF0299F476D188AE27AB986F6CEDA4", "header": "Report", "nested": [], "links": [] } ], "links": [] } ]

[ "Accounting", "Administrative procedure", "Advertising", "Auditing", "Auditing and auditors", "Brokers", "Business ethics", "Chief executive officers", "Civil Rights and Liberties, Minority Issues", "Commerce", "Commercial arbitration", "Conflict of interests", "Congress", "Congressional investigations", "Congressional reporting requirements", "Consultants", "Consumer education", "Contracts", "Corporate finance", "Corporate management", "Corporation directors", "Corporation reports", "Cost accounting", "Crime and Law Enforcement", "Crime prevention", "Deceptive advertising", "Derivative securities", "Disciplining of employees", "Discrimination in employment", "Dismissal of employees", "Electronic government information", "Executive compensation", "Executive reorganization", "Families", "Federal-state relations", "Fees", "Financial services", "Financial statements", "Government Operations and Politics", "Government paperwork", "Government publicity", "Governmental investigations", "Grievance procedures", "Independent regulatory commissions", "Information disclosure (Securities law)", "Information services", "Insider trading in securities", "Internet", "Investment advisers", "Investment banking", "Investments", "Investors", "Labor and Employment", "Law", "Lawyers", "Legislation", "Marketing", "Mutual funds", "Restrictive trade practices", "Sales promotion", "Science, Technology, Communications", "Securities and Exchange Commission", "Securities fraud", "Securities industry", "Securities regulation", "Stock exchanges", "Stockholders", "Telephone", "Trusts and trustees", "Valuation", "Web sites", "Whistle blowing" ]

[ { "text": "1. Short title \nThis Act may be cited as the Act Commemorating the LITE, or Lifetime Innovations of Thomas Edison.", "id": "H6BB4FDB9E6C34AA588478809F08410F4", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Findings and purpose \n(a) Findings \nCongress finds the following: (1) The Edison National Historic Site, located in West Orange, New Jersey, is a vital part of America’s national system of parks which preserves Thomas Alva Edison’s research and development laboratories, library, papers, and artifacts, as well as his home. (2) The Site is a national historic treasure and contains the world’s largest collection of materials related to Thomas Edison, encompassing an estimated 5,000,000 pages of documents, over 400,000 artifacts, approximately 35,000 sound recordings, and 10,000 books from Edison’s personal library. (3) Thomas Edison is one of America’s greatest inventors, whose inexhaustible energy and genius produced 1,093 patents in his lifetime, more than any other American, including patents for the incandescent light bulb, the motion picture camera, and the phonograph. (4) In 1928, Thomas Edison was awarded the Congressional Gold Medal for the development and application of inventions that have revolutionized civilization in the last century. (5) In 1998, Congress again honored Thomas Edison by directing the Secretary of the Treasury to mint a commemorative coin celebrating the 125th anniversary of Edison’s invention of the light bulb to be celebrated in 2004. (6) The Edison National Historic Site is one of America’s most endangered historic places. The National Park Service, in its General Management Plan and Development Concept Plan, identified the need for numerous actions to preserve, protect, restore, and enhance the Site and determined that sufficient government funds are not likely to be appropriated to complete these necessary actions in the foreseeable future. (7) On November 6, 1997, the National Park Service signed an agreement with the Thomas Alva Edison Preservation Foundation (now the Edison Preservation Foundation), establishing a public-private partnership to jointly raise money to fund identified improvements at the Edison National Historic Site so as to leave the Site unimpaired for the enjoyment of future generations. (b) Purposes \nThe purposes of this Act are— (1) to recognize and pay tribute to Thomas Alva Edison and his innovations; and (2) to preserve, protect, restore, and enhance the Edison National Historic Site to ensure public use and enjoyment of the Site as an educational, scientific, and cultural center.", "id": "H4D9D7D4796B34E778800DF7999CD55C3", "header": "Findings and purpose", "nested": [ { "text": "(a) Findings \nCongress finds the following: (1) The Edison National Historic Site, located in West Orange, New Jersey, is a vital part of America’s national system of parks which preserves Thomas Alva Edison’s research and development laboratories, library, papers, and artifacts, as well as his home. (2) The Site is a national historic treasure and contains the world’s largest collection of materials related to Thomas Edison, encompassing an estimated 5,000,000 pages of documents, over 400,000 artifacts, approximately 35,000 sound recordings, and 10,000 books from Edison’s personal library. (3) Thomas Edison is one of America’s greatest inventors, whose inexhaustible energy and genius produced 1,093 patents in his lifetime, more than any other American, including patents for the incandescent light bulb, the motion picture camera, and the phonograph. (4) In 1928, Thomas Edison was awarded the Congressional Gold Medal for the development and application of inventions that have revolutionized civilization in the last century. (5) In 1998, Congress again honored Thomas Edison by directing the Secretary of the Treasury to mint a commemorative coin celebrating the 125th anniversary of Edison’s invention of the light bulb to be celebrated in 2004. (6) The Edison National Historic Site is one of America’s most endangered historic places. The National Park Service, in its General Management Plan and Development Concept Plan, identified the need for numerous actions to preserve, protect, restore, and enhance the Site and determined that sufficient government funds are not likely to be appropriated to complete these necessary actions in the foreseeable future. (7) On November 6, 1997, the National Park Service signed an agreement with the Thomas Alva Edison Preservation Foundation (now the Edison Preservation Foundation), establishing a public-private partnership to jointly raise money to fund identified improvements at the Edison National Historic Site so as to leave the Site unimpaired for the enjoyment of future generations.", "id": "HD52E65AE723445CCB7B189F4517CE2FE", "header": "Findings", "nested": [], "links": [] }, { "text": "(b) Purposes \nThe purposes of this Act are— (1) to recognize and pay tribute to Thomas Alva Edison and his innovations; and (2) to preserve, protect, restore, and enhance the Edison National Historic Site to ensure public use and enjoyment of the Site as an educational, scientific, and cultural center.", "id": "H42F5B4A9368D4D71816F9E00B48F0061", "header": "Purposes", "nested": [], "links": [] } ], "links": [] }, { "text": "3. Thomas Edison National Historical Park \n(a) Establishment \nThere is established the Thomas Edison National Historical Park as a unit of the National Park System (hereafter the Historical Park ). (b) Boundaries \nThe Historical Park shall be comprised of— (1) all property owned by the United States in the Edison National Historic Site as well as all property authorized to be acquired by the Secretary of the Interior for inclusion in the Edison National Historic Site before the date of the enactment of this Act, as generally depicted on the map entitled the Edison National Historic Site , numbered 20003B, and dated April 1977; and (2) all property authorized to be acquired for inclusion in the Historical Park by this Act or other law enacted after the date of the enactment of this Act. (c) Map \nThe map of the Historical Park shall be on file and available for public inspection in the appropriate offices of the National Park Service.", "id": "HABEEC085747E43CFBD68CEF4423C94B", "header": "Thomas Edison National Historical Park", "nested": [ { "text": "(a) Establishment \nThere is established the Thomas Edison National Historical Park as a unit of the National Park System (hereafter the Historical Park ).", "id": "HCEA8036779EE4B44829CD3C854FF44F4", "header": "Establishment", "nested": [], "links": [] }, { "text": "(b) Boundaries \nThe Historical Park shall be comprised of— (1) all property owned by the United States in the Edison National Historic Site as well as all property authorized to be acquired by the Secretary of the Interior for inclusion in the Edison National Historic Site before the date of the enactment of this Act, as generally depicted on the map entitled the Edison National Historic Site , numbered 20003B, and dated April 1977; and (2) all property authorized to be acquired for inclusion in the Historical Park by this Act or other law enacted after the date of the enactment of this Act.", "id": "H00F83CFF558B4696A100A4A31BEF719F", "header": "Boundaries", "nested": [], "links": [] }, { "text": "(c) Map \nThe map of the Historical Park shall be on file and available for public inspection in the appropriate offices of the National Park Service.", "id": "H9E5E6011086B4542A470F20CC764C48", "header": "Map", "nested": [], "links": [] } ], "links": [] }, { "text": "4. Administration \n(a) In general \nThe Secretary shall administer the Historical Park in accordance with this Act and with the provisions of law generally applicable to units of the National Park System, including the Acts entitled An Act to establish a National Park Service, and for other purposes, approved August 25, 1916 (39 Stat. 535; 16 U.S.C. 1 et seq. ) and An Act to provide for the preservation of historic American sites, buildings, objects, and antiquities of national significance, and for other purposes, approved August 21, 1935 ( 16 U.S.C. 461 et seq. ). (b) Acquisition of property \n(1) Real property \nThe Secretary may acquire land or interests in land within the boundaries of the Historical Park, from willing sellers only, by donation, purchase with donated or appropriated funds, or exchange. (2) Personal property \nThe Secretary may acquire personal property associated with, and appropriate for, interpretation of the Historical Park. (c) Cooperative agreements \nThe Secretary may consult and enter into cooperative agreements with interested entities and individuals to provide for the preservation, development, interpretation, and use of the Historical Park. (d) Repeal of superseded law \nPublic Law 87-628 (76 Stat. 428), regarding the establishment and administration of the Edison National Historic Site, is repealed. (e) References \nAny reference in a law, map, regulation, document, paper, or other record of the United States to the Edison National Historic Site shall be deemed to be a reference to the Thomas Edison National Historical Park.", "id": "HD1BCD5F8CCD943AE919600B192CCBA72", "header": "Administration", "nested": [ { "text": "(a) In general \nThe Secretary shall administer the Historical Park in accordance with this Act and with the provisions of law generally applicable to units of the National Park System, including the Acts entitled An Act to establish a National Park Service, and for other purposes, approved August 25, 1916 (39 Stat. 535; 16 U.S.C. 1 et seq. ) and An Act to provide for the preservation of historic American sites, buildings, objects, and antiquities of national significance, and for other purposes, approved August 21, 1935 ( 16 U.S.C. 461 et seq. ).", "id": "HDF2BFB82EF3B4A8FAA94D4E1E632FEE0", "header": "In general", "nested": [], "links": [ { "text": "16 U.S.C. 1 et seq.", "legal-doc": "usc", "parsable-cite": "usc/16/1" }, { "text": "16 U.S.C. 461 et seq.", "legal-doc": "usc", "parsable-cite": "usc/16/461" } ] }, { "text": "(b) Acquisition of property \n(1) Real property \nThe Secretary may acquire land or interests in land within the boundaries of the Historical Park, from willing sellers only, by donation, purchase with donated or appropriated funds, or exchange. (2) Personal property \nThe Secretary may acquire personal property associated with, and appropriate for, interpretation of the Historical Park.", "id": "H6D838810856D4FDEB5DE44413EE93E36", "header": "Acquisition of property", "nested": [], "links": [] }, { "text": "(c) Cooperative agreements \nThe Secretary may consult and enter into cooperative agreements with interested entities and individuals to provide for the preservation, development, interpretation, and use of the Historical Park.", "id": "H3A9122D302E24246A745FA18FFF9BB96", "header": "Cooperative agreements", "nested": [], "links": [] }, { "text": "(d) Repeal of superseded law \nPublic Law 87-628 (76 Stat. 428), regarding the establishment and administration of the Edison National Historic Site, is repealed.", "id": "H5553752D0F1843C49C78452F005932F6", "header": "Repeal of superseded law", "nested": [], "links": [] }, { "text": "(e) References \nAny reference in a law, map, regulation, document, paper, or other record of the United States to the Edison National Historic Site shall be deemed to be a reference to the Thomas Edison National Historical Park.", "id": "HA934A1521C20493EBE6E8F92EEE9258B", "header": "References", "nested": [], "links": [] } ], "links": [ { "text": "16 U.S.C. 1 et seq.", "legal-doc": "usc", "parsable-cite": "usc/16/1" }, { "text": "16 U.S.C. 461 et seq.", "legal-doc": "usc", "parsable-cite": "usc/16/461" } ] }, { "text": "5. Authorization of appropriations \nThere is authorized to be appropriated such sums as may be necessary to carry out this Act.", "id": "HC4B4F168678B4D1BBFFAB203D19CDF57", "header": "Authorization of appropriations", "nested": [], "links": [] } ]

[ "Commemorations", "Historic sites", "History", "Intellectual property", "Inventors", "Land transfers", "National parks", "New Jersey", "Science, Technology, Communications", "Scientists" ]

[ { "text": "1. Grants to Assist Tribes in the Federal Acknowledgement Process \n(a) Grants \nThe Secretary of the Interior may provide a grant to an entity to assist the entity in preparing, submitting, or otherwise supporting a petition to the Bureau of Acknowledgement and Recognition in the Department of the Interior for recognition or rerecognition of such entity as an Indian tribe. (b) Amount \nThe Secretary may not provide a grant to an entity under this section in an amount that exceeds $500,000 in any fiscal year. (c) Outside Financing \n(1) Prohibition \n(A) In General \nThe Secretary may not provide a grant under this section to an entity unless the entity agrees that it will not accept funds to assist in the Federal acknowledgement process from any other source that may benefit financially from the recognition or rerecognition of the entity as an Indian tribe. (B) Penalties \nIf the Secretary determines that an entity has violated the requirement of subparagraph (A), the Secretary— (i) may not provide any additional assistance under this section to the entity; and (ii) shall seek reimbursement from the entity in an amount equal to amounts received under a grant provided under this section plus reasonable interest. (2) Prior Acceptance of Funds \nThe Secretary may not provide a grant under this section to an entity that has accepted funds from a source that may benefit financially from the recognition or rerecognition of the entity as an Indian tribe until one year after the date on which the entity accepted the funds. (3) Waiver \nThe Secretary may waive the penalty requirements contained in clauses (i) and (ii) of paragraph (1)(B) or the one-year waiting period requirement contained in paragraph (2), as the case may be, if the Secretary determines that the entity has returned the total amount of funds received from all sources that may benefit financially from the recognition or rerecognition of the entity as an Indian tribe. (d) Definitions \nIn this section: (1) Indian tribe \nThe term Indian tribe has the meaning given the term in section 4 of the Indian Self-Determination and Education Assistance Act ( 25 U.S.C. 450b ). (2) Secretary \nThe term Secretary means the Secretary of the Interior.", "id": "H62444C7FD27A443AB49B4BDA9C4EB00", "header": "Grants to Assist Tribes in the Federal Acknowledgement Process", "nested": [ { "text": "(a) Grants \nThe Secretary of the Interior may provide a grant to an entity to assist the entity in preparing, submitting, or otherwise supporting a petition to the Bureau of Acknowledgement and Recognition in the Department of the Interior for recognition or rerecognition of such entity as an Indian tribe.", "id": "H7AAC528B56F543269262D0AD93A4B06", "header": "Grants", "nested": [], "links": [] }, { "text": "(b) Amount \nThe Secretary may not provide a grant to an entity under this section in an amount that exceeds $500,000 in any fiscal year.", "id": "H8ECA11AA48E344C1B5B343D54C3229AF", "header": "Amount", "nested": [], "links": [] }, { "text": "(c) Outside Financing \n(1) Prohibition \n(A) In General \nThe Secretary may not provide a grant under this section to an entity unless the entity agrees that it will not accept funds to assist in the Federal acknowledgement process from any other source that may benefit financially from the recognition or rerecognition of the entity as an Indian tribe. (B) Penalties \nIf the Secretary determines that an entity has violated the requirement of subparagraph (A), the Secretary— (i) may not provide any additional assistance under this section to the entity; and (ii) shall seek reimbursement from the entity in an amount equal to amounts received under a grant provided under this section plus reasonable interest. (2) Prior Acceptance of Funds \nThe Secretary may not provide a grant under this section to an entity that has accepted funds from a source that may benefit financially from the recognition or rerecognition of the entity as an Indian tribe until one year after the date on which the entity accepted the funds. (3) Waiver \nThe Secretary may waive the penalty requirements contained in clauses (i) and (ii) of paragraph (1)(B) or the one-year waiting period requirement contained in paragraph (2), as the case may be, if the Secretary determines that the entity has returned the total amount of funds received from all sources that may benefit financially from the recognition or rerecognition of the entity as an Indian tribe.", "id": "HBCAFD7C2E62D49818B45E277AE2E00D5", "header": "Outside Financing", "nested": [], "links": [] }, { "text": "(d) Definitions \nIn this section: (1) Indian tribe \nThe term Indian tribe has the meaning given the term in section 4 of the Indian Self-Determination and Education Assistance Act ( 25 U.S.C. 450b ). (2) Secretary \nThe term Secretary means the Secretary of the Interior.", "id": "H943DA4D99B9646C382BD66E0083E7DB6", "header": "Definitions", "nested": [], "links": [ { "text": "25 U.S.C. 450b", "legal-doc": "usc", "parsable-cite": "usc/25/450b" } ] } ], "links": [ { "text": "25 U.S.C. 450b", "legal-doc": "usc", "parsable-cite": "usc/25/450b" } ] } ]

[ "Collection of accounts", "Economics and Public Finance", "Federal aid to Indians", "Federal-Indian relations", "Fines (Penalties)", "Fund raising", "Law", "Minorities" ]

[ { "text": "1. Short title \nThis Act may be cited as.", "id": "HED7EA35890A543B69735F38A32B69C1", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Tax-exempt financing for United Nations facilities \n(a) In general \nSection 145 of the Internal Revenue Code of 1986 (relating to qualified 501(c)(3) bonds) is amended by adding at the end the following new subsection: (f) Special rule relating to bonds for United Nations facilities \n(1) In general \nFor purposes of this part, the term qualified 501(c)(3) bond includes a bond issued as part of an issue 95 percent or more of the net proceeds of which are used to provide a United Nations facility described in paragraph (2). Such bonds need not satisfy the requirements of paragraphs (1) and (2) of subsection (a). (2) United nations facility \nFor purposes of paragraph (1), the term United Nations facility means property used by the United Nations or any agency or instrumentality thereof, whether or not constituting a 501(c)(3) organization, so long as— (A) such property is used in conjunction with, but is outside, the United Nations headquarters district, as defined in Annex 1 to the Agreement between the United Nations and the United States of America, as approved August 4, 1947; and (B) costs for such United Nations facility are first incurred after April 1, 2002. (3) Financing not treated as loan \nFor purposes of section 148, financing of such United Nations facility shall not be treated as a loan to the United Nations or otherwise by reason of unencumbered ownership by the United Nations of such United Nations facility when such bond is no longer outstanding.. (b) Effective date \nThe amendment made by this section shall take effect on the date of the enactment of this Act.", "id": "HBEED2631C1D64242A384E45F5C7F3C6D", "header": "Tax-exempt financing for United Nations facilities", "nested": [ { "text": "(a) In general \nSection 145 of the Internal Revenue Code of 1986 (relating to qualified 501(c)(3) bonds) is amended by adding at the end the following new subsection: (f) Special rule relating to bonds for United Nations facilities \n(1) In general \nFor purposes of this part, the term qualified 501(c)(3) bond includes a bond issued as part of an issue 95 percent or more of the net proceeds of which are used to provide a United Nations facility described in paragraph (2). Such bonds need not satisfy the requirements of paragraphs (1) and (2) of subsection (a). (2) United nations facility \nFor purposes of paragraph (1), the term United Nations facility means property used by the United Nations or any agency or instrumentality thereof, whether or not constituting a 501(c)(3) organization, so long as— (A) such property is used in conjunction with, but is outside, the United Nations headquarters district, as defined in Annex 1 to the Agreement between the United Nations and the United States of America, as approved August 4, 1947; and (B) costs for such United Nations facility are first incurred after April 1, 2002. (3) Financing not treated as loan \nFor purposes of section 148, financing of such United Nations facility shall not be treated as a loan to the United Nations or otherwise by reason of unencumbered ownership by the United Nations of such United Nations facility when such bond is no longer outstanding..", "id": "HD7E08721425B41318249CD409F928D60", "header": "In general", "nested": [], "links": [ { "text": "Section 145", "legal-doc": "usc", "parsable-cite": "usc/26/145" } ] }, { "text": "(b) Effective date \nThe amendment made by this section shall take effect on the date of the enactment of this Act.", "id": "H2EDEC3710F6E40819D86CCA16B09D1AF", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "Section 145", "legal-doc": "usc", "parsable-cite": "usc/26/145" } ] } ]

[ "Finance and Financial Sector", "Income tax", "International Affairs", "Tax-exempt securities", "United Nations", "United Nations finances" ]

[ { "text": "101. Short title \nThis Act may be cited as the National Oceanic and Atmospheric Administration Organic Act of 2004.", "id": "HC8B3C27A680145DF95A131E9244224BC", "header": "Short title", "nested": [], "links": [] }, { "text": "102. Establishment \nThere is established within the Department of Commerce, the National Oceanic and Atmospheric Administration.", "id": "HDF65473016314890BD74AE76F7C9AD33", "header": "Establishment", "nested": [], "links": [] }, { "text": "103. Definitions \nAs used in this Act: (1) The terms NOAA and Administration mean the National Oceanic and Atmospheric Administration established by section 102. (2) The term Secretary means the Secretary of Commerce. (3) The terms Under Secretary or Administrator mean the Under Secretary of Commerce for Oceans and Atmosphere and Administrator of the National Oceanic and Atmospheric Administration. (4) The terms Assistant Secretary or Deputy Administrator mean the Assistant Secretary of Commerce for Oceans and Atmosphere and Deputy Administrator of the National Oceanic and Atmospheric Administration.", "id": "HD1077407A06F4C968E3CAECE08B398AF", "header": "Definitions", "nested": [], "links": [] }, { "text": "104. Positions \n(a) Under secretary \nThere shall be within NOAA an Under Secretary of Commerce for Oceans and Atmosphere and Administrator of the National Oceanic and Atmospheric Administration appointed by the President by and with the advice and consent of the Senate. Subject to the authority of the Secretary of Commerce, the Under Secretary shall be the head of NOAA and shall have authority, direction and control of NOAA. Any authority, power or function vested by law in NOAA, or any officer, employee or part of NOAA, is vested in, and may be exercised by, the Under Secretary. The Under Secretary may, without being relieved of the Under Secretary’s responsibility, perform any of the Under Secretary’s functions or duties, or exercise any of the Under Secretary’s powers through, or with the aid of, such persons in, or organizations of, NOAA as the Under Secretary may designate. (b) Assistant secretary \nThere shall be within NOAA an Assistant Secretary of Commerce for Oceans and Atmosphere and Deputy Administrator of the National Oceanic and Atmospheric Administration. The Assistant Secretary shall be appointed by the President, by and with the advice and consent of the Senate. The Assistant Secretary shall perform such functions as the Under Secretary may prescribe. The Assistant Secretary shall perform the functions of the Under Secretary during the disability of the Under Secretary or when the office of Under Secretary is vacant. (c) Deputy under secretary \nThere shall be within NOAA a Deputy Under Secretary of Commerce for Oceans and Atmosphere appointed in the Senior Executive Service, without regard to limitations under section 3133 of Title 5, United States Code, by the Secretary. The Deputy Under Secretary shall perform the functions of the Assistant Secretary during the disability of the Assistant Secretary or when the office of Assistant Secretary is vacant. (d) Establishment of additional positions \nTo carry out the functions of NOAA assigned by law, and consistent with applicable law including title II of the National Oceanic and Atmospheric Administration Commissioned Officer Corps Act of 2002 ( Public Law 107–372 ), the Under Secretary may establish positions within NOAA and prescribe the authorities and duties of such positions.", "id": "HBDCE6650A5804F55A84200774C5D75E7", "header": "Positions", "nested": [ { "text": "(a) Under secretary \nThere shall be within NOAA an Under Secretary of Commerce for Oceans and Atmosphere and Administrator of the National Oceanic and Atmospheric Administration appointed by the President by and with the advice and consent of the Senate. Subject to the authority of the Secretary of Commerce, the Under Secretary shall be the head of NOAA and shall have authority, direction and control of NOAA. Any authority, power or function vested by law in NOAA, or any officer, employee or part of NOAA, is vested in, and may be exercised by, the Under Secretary. The Under Secretary may, without being relieved of the Under Secretary’s responsibility, perform any of the Under Secretary’s functions or duties, or exercise any of the Under Secretary’s powers through, or with the aid of, such persons in, or organizations of, NOAA as the Under Secretary may designate.", "id": "HBBF91B980DA24374B34B00A7C8C8E69F", "header": "Under secretary", "nested": [], "links": [] }, { "text": "(b) Assistant secretary \nThere shall be within NOAA an Assistant Secretary of Commerce for Oceans and Atmosphere and Deputy Administrator of the National Oceanic and Atmospheric Administration. The Assistant Secretary shall be appointed by the President, by and with the advice and consent of the Senate. The Assistant Secretary shall perform such functions as the Under Secretary may prescribe. The Assistant Secretary shall perform the functions of the Under Secretary during the disability of the Under Secretary or when the office of Under Secretary is vacant.", "id": "HF854AE807FE84ADAB9512DCEA94B5302", "header": "Assistant secretary", "nested": [], "links": [] }, { "text": "(c) Deputy under secretary \nThere shall be within NOAA a Deputy Under Secretary of Commerce for Oceans and Atmosphere appointed in the Senior Executive Service, without regard to limitations under section 3133 of Title 5, United States Code, by the Secretary. The Deputy Under Secretary shall perform the functions of the Assistant Secretary during the disability of the Assistant Secretary or when the office of Assistant Secretary is vacant.", "id": "H1859C23243854589AB86E9FF0470F412", "header": "Deputy under secretary", "nested": [], "links": [] }, { "text": "(d) Establishment of additional positions \nTo carry out the functions of NOAA assigned by law, and consistent with applicable law including title II of the National Oceanic and Atmospheric Administration Commissioned Officer Corps Act of 2002 ( Public Law 107–372 ), the Under Secretary may establish positions within NOAA and prescribe the authorities and duties of such positions.", "id": "H5A0E33E6D8814C8AA53143F41F652566", "header": "Establishment of additional positions", "nested": [], "links": [ { "text": "Public Law 107–372", "legal-doc": "public-law", "parsable-cite": "pl/107/372" } ] } ], "links": [ { "text": "Public Law 107–372", "legal-doc": "public-law", "parsable-cite": "pl/107/372" } ] }, { "text": "105. Purposes and authorities \n(a) Purposes \nNOAA’s purposes shall be to: (1) observe, assess and predict the status of and changes in ocean, coastal, and Great Lakes ecosystems, and in the atmosphere, including the near-space environment; (2) manage, protect and restore the Nation's ocean, coastal and Great Lakes areas, living and nonliving marine resources, including fisheries, and vulnerable species and habitats, including ecosystem approaches; (3) collect, store, analyze and provide reliable scientific data and information through means including research, observations (in-situ and remotely sensed), forecasts and assessments relating to weather (including space weather), climate, air quality, water, marine resources and ecosystems that can be used as a basis for sound management and public safety decisions; (4) protect lives and property and expand economic opportunities; and (5) pursue its purposes complementary to, and in partnership with, Federal agencies, instrumentalities and laboratories; State and local governments; Native American tribes and organizations; international organizations; foreign governments; educational institutions; nonprofit organizations; commercial organizations; and other public and private persons or entities, as appropriate. (b) Basic authorities \nIn addition to any other authority provided to the Under Secretary by law or by delegation from the Secretary, the Under Secretary shall have the following authorities with respect to NOAA and the implementation of this Act: (1) Authorities that were, immediately prior to the enactment of this Act, vested by law, including under Reorganization Plan No. 4 of 1970 ( 5 U.S.C. App. 1 ), in NOAA, or in the Secretary with respect to NOAA. (2) Authority to promulgate rules and regulations as necessary or appropriate. (3) Without regard to section 3324(a) and (b) of Title 31, authority to enter into and perform such contracts, leases, grants, cooperative agreements, or other transactions (without regard to 31 U.S.C. 6301 et seq. ), as may be necessary to carry out NOAA's purposes and authorities, on terms it deems appropriate, with Federal agencies, instrumentalities and laboratories; State and local governments; Native American tribes and organizations; international organizations; foreign governments; educational institutions; nonprofit organizations; commercial organizations; and other public and private persons or entities. (4) Authority to accept from any source, hold, administer, invest, dispose of and utilize gifts, bequests, or devises of services, money, securities or property (whether real, personal, intellectual or of any other kind) or any interest therein, and the income therefrom or the proceeds upon disposition thereof, without regard to section 1342 of Title 31, United States Code, and such money, income or proceeds shall be available to NOAA for obligation and expenditure to carry out the purposes of NOAA under this Act. (5) Authority to use, with their consent, and with or without reimbursement, the services, equipment, personnel, and facilities of: Federal agencies, instrumentalities and laboratories; State and local governments; Native American tribes and organizations; international organizations; foreign governments; educational institutions; nonprofit organizations; commercial organizations; and other public and private persons or entities. (6) Authority to disseminate information and conduct education and outreach in direct support of the purposes outlined under section 105(a). (7) Authority to— (A) acquire (by purchase, lease, or otherwise), lease, invest, sell, dispose of or convey services, money, securities or property (whether real, personal, intellectual or of any other kind) or interest therein; and (B) construct, improve, repair, operate, maintain and dispose of real or personal property, including but not limited to buildings, facilities, and land. (8) Authority to— (A) purchase or hire passenger motor vehicles as necessary for the implementation of this Act; (B) procure the services of experts or consultants (or of organizations of experts or consultants) as described in and in accordance with the first two sentences of section 3109(b) of Title 5, and, when determined necessary by the Under Secretary, without regard to the time limitation in the first sentence of section 3109(b), at respective daily rates of pay for individuals which are not more than the daily equivalent of the rate of basic pay then currently paid for Level III of the Executive Schedule of section 5313 of Title 5, and pay in connection with such services travel expenses of individuals, including transportation and per diem in lieu of subsistence while such individuals are traveling from their homes or places of business to official duty stations and return as may be authorized by law; (C) install, repair, and maintain telephones and telephone wiring and pay telephone service tolls or other charges with respect to residences owned or leased by the United States Government and, to the extent necessary to implement this Act, other private residences, without regard to section 1348 of Title 31, United States Code; and (D) expend appropriations for official reception and representation. (c) Protection against misuse of name, initials and seal \n(1) No person may, except with the written permission of the Under Secretary, knowingly use the words National Oceanic and Atmospheric Administration , the initials NOAA , the seal of NOAA, or the name, acronym or seal of any component or program of NOAA, or any colorable imitation of such words, initials, or seal in connection with any merchandise, impersonation, solicitation, or commercial activity in a manner reasonably calculated to convey the impression that such use is approved, endorsed, or authorized by NOAA, or is likely to cause confusion as to the source or origin of goods or services provided therewith. (2) Whenever it appears to the Attorney General that any person is engaged or is about to engage in an act or practice which constitutes or will constitute conduct prohibited by subparagraph (1), the Attorney General may initiate a civil proceeding in a district court of the United States to enjoin such act or practice. Such court shall proceed as soon as practicable to the hearing and determination of such action and may, at any time before final determination, enter such restraining orders or prohibitions, or take such other action as is warranted, to prevent injury to the United States or to any person or class of persons for whose protection the action is brought.", "id": "HE8FD6540A3C9467A004053001FF34B41", "header": "Purposes and authorities", "nested": [ { "text": "(a) Purposes \nNOAA’s purposes shall be to: (1) observe, assess and predict the status of and changes in ocean, coastal, and Great Lakes ecosystems, and in the atmosphere, including the near-space environment; (2) manage, protect and restore the Nation's ocean, coastal and Great Lakes areas, living and nonliving marine resources, including fisheries, and vulnerable species and habitats, including ecosystem approaches; (3) collect, store, analyze and provide reliable scientific data and information through means including research, observations (in-situ and remotely sensed), forecasts and assessments relating to weather (including space weather), climate, air quality, water, marine resources and ecosystems that can be used as a basis for sound management and public safety decisions; (4) protect lives and property and expand economic opportunities; and (5) pursue its purposes complementary to, and in partnership with, Federal agencies, instrumentalities and laboratories; State and local governments; Native American tribes and organizations; international organizations; foreign governments; educational institutions; nonprofit organizations; commercial organizations; and other public and private persons or entities, as appropriate.", "id": "HBA6074A099EC4AB6B716E4FE5E2439DD", "header": "Purposes", "nested": [], "links": [] }, { "text": "(b) Basic authorities \nIn addition to any other authority provided to the Under Secretary by law or by delegation from the Secretary, the Under Secretary shall have the following authorities with respect to NOAA and the implementation of this Act: (1) Authorities that were, immediately prior to the enactment of this Act, vested by law, including under Reorganization Plan No. 4 of 1970 ( 5 U.S.C. App. 1 ), in NOAA, or in the Secretary with respect to NOAA. (2) Authority to promulgate rules and regulations as necessary or appropriate. (3) Without regard to section 3324(a) and (b) of Title 31, authority to enter into and perform such contracts, leases, grants, cooperative agreements, or other transactions (without regard to 31 U.S.C. 6301 et seq. ), as may be necessary to carry out NOAA's purposes and authorities, on terms it deems appropriate, with Federal agencies, instrumentalities and laboratories; State and local governments; Native American tribes and organizations; international organizations; foreign governments; educational institutions; nonprofit organizations; commercial organizations; and other public and private persons or entities. (4) Authority to accept from any source, hold, administer, invest, dispose of and utilize gifts, bequests, or devises of services, money, securities or property (whether real, personal, intellectual or of any other kind) or any interest therein, and the income therefrom or the proceeds upon disposition thereof, without regard to section 1342 of Title 31, United States Code, and such money, income or proceeds shall be available to NOAA for obligation and expenditure to carry out the purposes of NOAA under this Act. (5) Authority to use, with their consent, and with or without reimbursement, the services, equipment, personnel, and facilities of: Federal agencies, instrumentalities and laboratories; State and local governments; Native American tribes and organizations; international organizations; foreign governments; educational institutions; nonprofit organizations; commercial organizations; and other public and private persons or entities. (6) Authority to disseminate information and conduct education and outreach in direct support of the purposes outlined under section 105(a). (7) Authority to— (A) acquire (by purchase, lease, or otherwise), lease, invest, sell, dispose of or convey services, money, securities or property (whether real, personal, intellectual or of any other kind) or interest therein; and (B) construct, improve, repair, operate, maintain and dispose of real or personal property, including but not limited to buildings, facilities, and land. (8) Authority to— (A) purchase or hire passenger motor vehicles as necessary for the implementation of this Act; (B) procure the services of experts or consultants (or of organizations of experts or consultants) as described in and in accordance with the first two sentences of section 3109(b) of Title 5, and, when determined necessary by the Under Secretary, without regard to the time limitation in the first sentence of section 3109(b), at respective daily rates of pay for individuals which are not more than the daily equivalent of the rate of basic pay then currently paid for Level III of the Executive Schedule of section 5313 of Title 5, and pay in connection with such services travel expenses of individuals, including transportation and per diem in lieu of subsistence while such individuals are traveling from their homes or places of business to official duty stations and return as may be authorized by law; (C) install, repair, and maintain telephones and telephone wiring and pay telephone service tolls or other charges with respect to residences owned or leased by the United States Government and, to the extent necessary to implement this Act, other private residences, without regard to section 1348 of Title 31, United States Code; and (D) expend appropriations for official reception and representation.", "id": "H1D4C9F4031294919B2A5C100861785FF", "header": "Basic authorities", "nested": [], "links": [ { "text": "5 U.S.C. App. 1", "legal-doc": "usc-appendix", "parsable-cite": "usc-appendix/5/1" }, { "text": "31 U.S.C. 6301 et seq.", "legal-doc": "usc", "parsable-cite": "usc/31/6301" } ] }, { "text": "(c) Protection against misuse of name, initials and seal \n(1) No person may, except with the written permission of the Under Secretary, knowingly use the words National Oceanic and Atmospheric Administration , the initials NOAA , the seal of NOAA, or the name, acronym or seal of any component or program of NOAA, or any colorable imitation of such words, initials, or seal in connection with any merchandise, impersonation, solicitation, or commercial activity in a manner reasonably calculated to convey the impression that such use is approved, endorsed, or authorized by NOAA, or is likely to cause confusion as to the source or origin of goods or services provided therewith. (2) Whenever it appears to the Attorney General that any person is engaged or is about to engage in an act or practice which constitutes or will constitute conduct prohibited by subparagraph (1), the Attorney General may initiate a civil proceeding in a district court of the United States to enjoin such act or practice. Such court shall proceed as soon as practicable to the hearing and determination of such action and may, at any time before final determination, enter such restraining orders or prohibitions, or take such other action as is warranted, to prevent injury to the United States or to any person or class of persons for whose protection the action is brought.", "id": "H31A7BA17B3D0405CB6785003BCA86EF5", "header": "Protection against misuse of name, initials and seal", "nested": [], "links": [] } ], "links": [ { "text": "5 U.S.C. App. 1", "legal-doc": "usc-appendix", "parsable-cite": "usc-appendix/5/1" }, { "text": "31 U.S.C. 6301 et seq.", "legal-doc": "usc", "parsable-cite": "usc/31/6301" } ] }, { "text": "106. Conforming amendments, repeals and transition \n(a) The Reorganization Plan No. 4 of 1970 ( 5 U.S.C. App. 1 ) is repealed. (b) Any reference, in any law, rule, regulation, directive, or instruction, or certificate or other official document, in force immediately prior to enactment of this Act— (1) to the National Oceanic and Atmospheric Administration shall be deemed to refer and apply to the National Oceanic and Atmospheric Administration established by section 102 of this Act; (2) to the Under Secretary of Commerce for Oceans and Atmosphere, or to the Administrator of the National Oceanic and Atmospheric Administration, shall be deemed to refer and apply to the Under Secretary of Commerce for Oceans and Atmosphere and Administrator of the National Oceanic and Atmospheric Administration to whom subsection 104(a) of this Act refers; and (3) to any other position in NOAA shall be deemed to refer and apply to that same position in the National Oceanic and Atmospheric Administration established by section 102 of this Act. (c) Subsections 407(a) and 407(b) of Public Law 99–659 (15 U.S.C. 1503b and 1507c) are repealed. (d) Conforming amendments to executive schedule \nTitle 5 of the United States Code is amended— (1) in section 5314, by striking Under Secretary of Commerce for Oceans and Atmosphere, the incumbent of which also serves as Administrator of the National Oceanic and Atmospheric Administration. and inserting in lieu thereof Under Secretary of Commerce for Oceans and Atmosphere and Administrator of the National Oceanic and Atmospheric Administration. ; and (2) in section 5315, by striking Assistant Secretary of Commerce for Oceans and Atmosphere, the incumbent of which also serves as Deputy Administrator of the National Oceanic and Atmospheric Administration. and inserting in lieu thereof Assistant Secretary of Commerce for Oceans and Atmosphere and Deputy Administrator of the National Oceanic and Atmospheric Administration.. (e) Transition; initial appointments \nNotwithstanding any provision in subsections 104(a) and (b) of this Act to the contrary, the first individual appointed to the position of Under Secretary, and the first individual appointed to the position of Assistant Secretary, shall be appointed by the President alone.", "id": "H4B8A8D5CF4BB4CB6BB43FF3BA8C94F9", "header": "Conforming amendments, repeals and transition", "nested": [ { "text": "(a) The Reorganization Plan No. 4 of 1970 ( 5 U.S.C. App. 1 ) is repealed.", "id": "H0684E47BAA8143D987FDA39549625561", "header": null, "nested": [], "links": [ { "text": "5 U.S.C. App. 1", "legal-doc": "usc-appendix", "parsable-cite": "usc-appendix/5/1" } ] }, { "text": "(b) Any reference, in any law, rule, regulation, directive, or instruction, or certificate or other official document, in force immediately prior to enactment of this Act— (1) to the National Oceanic and Atmospheric Administration shall be deemed to refer and apply to the National Oceanic and Atmospheric Administration established by section 102 of this Act; (2) to the Under Secretary of Commerce for Oceans and Atmosphere, or to the Administrator of the National Oceanic and Atmospheric Administration, shall be deemed to refer and apply to the Under Secretary of Commerce for Oceans and Atmosphere and Administrator of the National Oceanic and Atmospheric Administration to whom subsection 104(a) of this Act refers; and (3) to any other position in NOAA shall be deemed to refer and apply to that same position in the National Oceanic and Atmospheric Administration established by section 102 of this Act.", "id": "HE6D71EF0F0E84EE9A28F0835F5378E6", "header": null, "nested": [], "links": [] }, { "text": "(c) Subsections 407(a) and 407(b) of Public Law 99–659 (15 U.S.C. 1503b and 1507c) are repealed.", "id": "H482689084D24436A8321842BC67E3EAB", "header": null, "nested": [], "links": [ { "text": "Public Law 99–659", "legal-doc": "public-law", "parsable-cite": "pl/99/659" } ] }, { "text": "(d) Conforming amendments to executive schedule \nTitle 5 of the United States Code is amended— (1) in section 5314, by striking Under Secretary of Commerce for Oceans and Atmosphere, the incumbent of which also serves as Administrator of the National Oceanic and Atmospheric Administration. and inserting in lieu thereof Under Secretary of Commerce for Oceans and Atmosphere and Administrator of the National Oceanic and Atmospheric Administration. ; and (2) in section 5315, by striking Assistant Secretary of Commerce for Oceans and Atmosphere, the incumbent of which also serves as Deputy Administrator of the National Oceanic and Atmospheric Administration. and inserting in lieu thereof Assistant Secretary of Commerce for Oceans and Atmosphere and Deputy Administrator of the National Oceanic and Atmospheric Administration..", "id": "H2457317127724443A6F529C26B51D104", "header": "Conforming amendments to executive schedule", "nested": [], "links": [] }, { "text": "(e) Transition; initial appointments \nNotwithstanding any provision in subsections 104(a) and (b) of this Act to the contrary, the first individual appointed to the position of Under Secretary, and the first individual appointed to the position of Assistant Secretary, shall be appointed by the President alone.", "id": "HCEC81A1EEFF2453BB151708FF6BF7B7D", "header": "Transition; initial appointments", "nested": [], "links": [] } ], "links": [ { "text": "5 U.S.C. App. 1", "legal-doc": "usc-appendix", "parsable-cite": "usc-appendix/5/1" }, { "text": "Public Law 99–659", "legal-doc": "public-law", "parsable-cite": "pl/99/659" } ] }, { "text": "107. Savings provision \nAll rules and regulations, determinations, standards, contracts, certifications, authorizations, appointments, delegations, results and findings of investigations, or other actions duly issued, made, or taken by or pursuant to or under the authority of any statute which resulted in the assignment of functions or activities to the Secretary, the Department of Commerce, the Under Secretary, or any other official of NOAA, as are in effect immediately before enactment of this Act shall continue in full force and effect after enactment of this Act until modified or rescinded.", "id": "HFFF13761B9E342FC8743F9499CEFEFB4", "header": "Savings provision", "nested": [], "links": [] }, { "text": "108. No effect on other authorities \nThis Act does not amend or alter the provisions of other applicable acts unless otherwise noted. Nothing in this Act shall derogate from the duties and functions of any other agency or otherwise alter current authorities relating to those agencies.", "id": "H49D55206FAFA4043A8593253EE023DC3", "header": "No effect on other authorities", "nested": [], "links": [] }, { "text": "201. Amendments \nSections 2 through 8 of the National Advisory Committee on Oceans and Atmosphere Act of 1977 ( Public Law 95–63 , as amended, 33 U.S.C. 857-13 through 857-18) are amended as follows: (1) In section 2 ( 33 U.S.C. 857-13 ), delete the phrase 18 members to be. (2) Subsection 3(a) ( 33 U.S.C. 857-14(a) ) is amended to read as follows: (a) Appointment and qualifications \n(1) The members of the Committee, who may not be full-time officers or employees of the United States, shall be appointed by the Under Secretary of Commerce for Oceans and Atmosphere (hereinafter the Under Secretary). Members shall be appointed only from among individuals who are eminently qualified by way of knowledge and expertise in one or more of the purposes of the National Oceanic and Atmospheric Administration. (2) The Under Secretary shall appoint, as original members, any current members of the National Oceanic and Atmospheric Administration Science Advisory Board who wish to serve in such capacity, together with any additional qualified individuals necessary to fulfill the purposes of the Committee.. (3) Subsection 3(b) ( 33 U.S.C. 857-14(b) ) is revised to read as follows: (b) Terms \n(1) The term of office of a member of the Committee shall be 3 years; except that initial terms of the original appointees shall be staggered to assure continuity of administration. (2) Any individual appointed to fill a vacancy occurring before the expiration of the term for which his or her predecessor was appointed shall be appointed for the remainder of such term. No individual may serve for more than two consecutive three-year terms. A member may serve after the date of the expiration of the term of office for which appointed until his or her successor has taken office.. (4) In subsection 3(c) ( 33 U.S.C. 857-14(c) ), delete President and insert in lieu thereof Under Secretary. (5) Subsection 3(d) ( 33 U.S.C. 857-14(d) ) is revised to read as follows: (d) Duties \nThe Committee shall advise the Under Secretary with respect to the programs administered by the National Oceanic and Atmospheric Administration.. (6) Delete sections 4 and 6 (33 U.S.C. 857-15 and 857-17, respectively), and renumber the remaining sections accordingly. In new section 4, delete for a GS-18 and insert in lieu thereof provided for Level IV of the Executive Schedule Pay Rates. (7) By striking National Advisory Committee on Oceans and Atmosphere wherever that term may appear in sections 2 through 8 of the National Advisory Committee on Oceans and Atmosphere Act of 1977 ( Public Law 95–63 , an amended, 33 U.S.C. 857-13 through 857-18) and substitute in lieu thereof NOAA Advisory Committee on Oceans and Atmosphere.", "id": "H7D4A979E7CE94FE0B1CABA05005F9605", "header": "Amendments", "nested": [], "links": [ { "text": "Public Law 95–63", "legal-doc": "public-law", "parsable-cite": "pl/95/63" }, { "text": "33 U.S.C. 857-13", "legal-doc": "usc", "parsable-cite": "usc/33/857-13" }, { "text": "33 U.S.C. 857-14(a)", "legal-doc": "usc", "parsable-cite": "usc/33/857-14" }, { "text": "33 U.S.C. 857-14(b)", "legal-doc": "usc", "parsable-cite": "usc/33/857-14" }, { "text": "33 U.S.C. 857-14(c)", "legal-doc": "usc", "parsable-cite": "usc/33/857-14" }, { "text": "33 U.S.C. 857-14(d)", "legal-doc": "usc", "parsable-cite": "usc/33/857-14" }, { "text": "Public Law 95–63", "legal-doc": "public-law", "parsable-cite": "pl/95/63" } ] } ]

[ "Advice and consent of the Senate", "Air pollution control", "Animals", "Civil actions and liability", "Climate", "Coastal zone", "Congress", "Department of Commerce", "Ecosystem management", "Endangered species", "Environmental Protection", "Environmental monitoring", "Executive reorganization", "Federal advisory bodies", "Federal officials", "Fishery management", "Government Operations and Politics", "Great Lakes", "Habitat conservation", "Injunctions", "Law", "Marine and coastal resources, fisheries", "Marine mammals", "Marine pollution", "Marine resources conservation", "Meteorological research", "Meteorology", "Names", "Oceanographic research", "Oceanography", "Presidential appointments", "Remote sensing", "Restoration ecology", "Salaries", "Science, Technology, Communications", "Signs and symbols", "Space activities", "Water Resources Development", "Water pollution control", "Weather forecasting", "Wildlife conservation", "Wildlife management" ]

[ { "text": "1. Short title \nThis Act may be cited as the Permanent Sales Tax Deduction Act of 2004.", "id": "HF4818A3DFEF343D5863C9F345B4D2723", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Deduction of State and local sales taxes made permanent \nParagraph (5) of section 164(b) of the Internal Revenue Code of 1986 is amended by striking subparagraph (I).", "id": "H4DAD9C52FA854BAB96A18BDAE62B315", "header": "Deduction of State and local sales taxes made permanent", "nested": [], "links": [ { "text": "section 164(b)", "legal-doc": "usc", "parsable-cite": "usc/26/164" } ] } ]

[ "Government Operations and Politics", "Income tax", "Local taxation", "Sales tax", "State taxation", "Tax deductions" ]

[ { "text": "1. Short title \nThis Act may be cited as the PRIDE Plus Act.", "id": "H2FCBD07EC84B4D839332674CA7ECD17D", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Northern and Northeastern Kentucky \n(a) Northern and northeastern kentucky defined \nIn this section, the term Northern and Northeastern Kentucky means the counties of Bath, Boone, Boyd, Bracken, Campbell, Carroll, Carter, Elliot, Fleming, Gallatin, Grant, Greenup, Harrison, Henry, Kenton, Lewis, Mason, Nicholas, Oldham, Owen, Pendleton, Robertson, Scott, and Trimble, Kentucky. (b) Establishment of program \nThe Secretary of the Army may establish a program to provide environmental assistance to non-Federal interests in Northern and Northeastern Kentucky. (c) Form of assistance \nAssistance under this section may be in the form of design and construction assistance for water-related environmental infrastructure and resource protection and development projects in Northern and Northeastern Kentucky, including projects for wastewater treatment and related facilities, water supply and related facilities, environmental restoration, and surface water resource protection and development. (d) Public ownership requirement \nThe Secretary may provide assistance for a project under this section only if the project is publicly owned. (e) Local cooperation agreements \n(1) In general \nBefore providing assistance under this section, the Secretary shall enter into a local cooperation agreement with a non-Federal interest to provide for design and construction of the project to be carried out with the assistance. (2) Requirements \nEach local cooperation agreement entered into under this subsection shall provide for the following: (A) Plan \nDevelopment by the Secretary, in consultation with appropriate Federal and State officials, of a facilities or resource protection and development plan, including appropriate engineering plans and specifications. (B) Legal and institutional structures \nEstablishment of such legal and institutional structures as are necessary to ensure the effective long-term operation of the project by the non-Federal interest. (3) Cost sharing \n(A) In general \nThe Federal share of the project costs under each local cooperation agreement entered into under this subsection shall be 75 percent. The Federal share may be in the form of grants or reimbursements of project costs. (B) Credit for design work \nThe non-Federal interest shall receive credit for the reasonable costs of design work completed by the non-Federal interest before entering into a local cooperation agreement with the Secretary for a project. (C) Credit for interest \nIn case of a delay in the funding of the non-Federal share of a project that is the subject of an agreement under this section, the non-Federal interest shall receive credit for reasonable interest incurred in providing the non-Federal share of the project’s costs. (D) Land, easements, and rights-of-way credit \nThe non-Federal interest shall receive credit for land, easements, rights-of-way, and relocations toward the non-Federal share of project costs (including all reasonable costs associated with obtaining permits necessary for the construction, operations, and maintenance of the project on publicly owned or controlled land), but not to exceed 25 percent of total project costs. (E) Operations and maintenance \nThe non-Federal share of operation and maintenance costs for projects constructed with assistance provided under this section shall be 100 percent. (f) Applicability of other federal and state laws \nNothing in this section waives, limits, or otherwise affects the applicability of any provision of Federal or State law that would otherwise apply to a project to be carried out with assistance provided under this section. (g) Report \nNot later than December 31, 2005, the Secretary shall transmit to Congress a report on the results of the program carried out under this section, including a recommendation concerning whether the program should be implemented on a national basis. (h) Authorization of appropriations \nThere is authorized to be appropriated to carry out this section $10,000,000. Such funds shall remain available until expended.", "id": "H8399759DFB8F4506BE290283D53B49F5", "header": "Northern and Northeastern Kentucky", "nested": [ { "text": "(a) Northern and northeastern kentucky defined \nIn this section, the term Northern and Northeastern Kentucky means the counties of Bath, Boone, Boyd, Bracken, Campbell, Carroll, Carter, Elliot, Fleming, Gallatin, Grant, Greenup, Harrison, Henry, Kenton, Lewis, Mason, Nicholas, Oldham, Owen, Pendleton, Robertson, Scott, and Trimble, Kentucky.", "id": "HD2E848E8ACD2491BBC6C114E040010DE", "header": "Northern and northeastern kentucky defined", "nested": [], "links": [] }, { "text": "(b) Establishment of program \nThe Secretary of the Army may establish a program to provide environmental assistance to non-Federal interests in Northern and Northeastern Kentucky.", "id": "H38B5F0F1E1104DF19B641C6D2922F268", "header": "Establishment of program", "nested": [], "links": [] }, { "text": "(c) Form of assistance \nAssistance under this section may be in the form of design and construction assistance for water-related environmental infrastructure and resource protection and development projects in Northern and Northeastern Kentucky, including projects for wastewater treatment and related facilities, water supply and related facilities, environmental restoration, and surface water resource protection and development.", "id": "HB1A54D905C0645F2A600F08FA143CF46", "header": "Form of assistance", "nested": [], "links": [] }, { "text": "(d) Public ownership requirement \nThe Secretary may provide assistance for a project under this section only if the project is publicly owned.", "id": "HF7352D71B81449DB94DA076B8400D3BE", "header": "Public ownership requirement", "nested": [], "links": [] }, { "text": "(e) Local cooperation agreements \n(1) In general \nBefore providing assistance under this section, the Secretary shall enter into a local cooperation agreement with a non-Federal interest to provide for design and construction of the project to be carried out with the assistance. (2) Requirements \nEach local cooperation agreement entered into under this subsection shall provide for the following: (A) Plan \nDevelopment by the Secretary, in consultation with appropriate Federal and State officials, of a facilities or resource protection and development plan, including appropriate engineering plans and specifications. (B) Legal and institutional structures \nEstablishment of such legal and institutional structures as are necessary to ensure the effective long-term operation of the project by the non-Federal interest. (3) Cost sharing \n(A) In general \nThe Federal share of the project costs under each local cooperation agreement entered into under this subsection shall be 75 percent. The Federal share may be in the form of grants or reimbursements of project costs. (B) Credit for design work \nThe non-Federal interest shall receive credit for the reasonable costs of design work completed by the non-Federal interest before entering into a local cooperation agreement with the Secretary for a project. (C) Credit for interest \nIn case of a delay in the funding of the non-Federal share of a project that is the subject of an agreement under this section, the non-Federal interest shall receive credit for reasonable interest incurred in providing the non-Federal share of the project’s costs. (D) Land, easements, and rights-of-way credit \nThe non-Federal interest shall receive credit for land, easements, rights-of-way, and relocations toward the non-Federal share of project costs (including all reasonable costs associated with obtaining permits necessary for the construction, operations, and maintenance of the project on publicly owned or controlled land), but not to exceed 25 percent of total project costs. (E) Operations and maintenance \nThe non-Federal share of operation and maintenance costs for projects constructed with assistance provided under this section shall be 100 percent.", "id": "HCE13C176740F48E5950018C5001B5B5F", "header": "Local cooperation agreements", "nested": [], "links": [] }, { "text": "(f) Applicability of other federal and state laws \nNothing in this section waives, limits, or otherwise affects the applicability of any provision of Federal or State law that would otherwise apply to a project to be carried out with assistance provided under this section.", "id": "HCB989A80F0E14D998028F7FF006E42A4", "header": "Applicability of other federal and state laws", "nested": [], "links": [] }, { "text": "(g) Report \nNot later than December 31, 2005, the Secretary shall transmit to Congress a report on the results of the program carried out under this section, including a recommendation concerning whether the program should be implemented on a national basis.", "id": "H5F320BD72E1D4456B992BAB406CCB063", "header": "Report", "nested": [], "links": [] }, { "text": "(h) Authorization of appropriations \nThere is authorized to be appropriated to carry out this section $10,000,000. Such funds shall remain available until expended.", "id": "H9F3E018AB2824B0EA9476766F30065DE", "header": "Authorization of appropriations", "nested": [], "links": [] } ], "links": [] } ]

[ "Congress", "Congressional reporting requirements", "Economics and Public Finance", "Environmental Protection", "Federal aid to water pollution control", "Federal aid to water resources development", "Government Operations and Politics", "Infrastructure", "Intergovernmental fiscal relations", "Kentucky", "Public Lands and Natural Resources", "Restoration ecology", "Waste water treatment", "Water supply", "Water treatment plants" ]

[ { "text": "1. Short title \nThis Act may be cited as the.", "id": "HFF0DB7127CEB492DAF00D8396326A23E", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Denial of deduction for employer-provided vacation flights in excess of the amount of such flights treated as employee compensation \n(a) In general \nParagraph (2) of section 274(e) of the Internal Revenue Code of 1986 (relating to expenses treated as compensation) is amended by adding at the end the following: The amount allowable as a deduction by reason of this paragraph with respect to an aircraft provided by the taxpayer shall not exceed the expenses for goods, services, and facilities relating to such aircraft which are treated as such compensation and wages.. (b) Reduction in public debt \nThe increase in Federal receipts in the United States Treasury by reason of the amendment made by subsection (a) shall be used solely for reduction of the public debt, and for such purpose the Secretary of the Treasury shall deposit an amount equal to such receipts in the account specified in section 3113(d) of title 31, United States Code. (c) Effective date \nThe amendment made by subsection (a) shall apply to expenses incurred after the date of the enactment of this Act in taxable years ending after such date.", "id": "H2F844259EC2C475E812800C99FAFA561", "header": "Denial of deduction for employer-provided vacation flights in excess of the amount of such flights treated as employee compensation", "nested": [ { "text": "(a) In general \nParagraph (2) of section 274(e) of the Internal Revenue Code of 1986 (relating to expenses treated as compensation) is amended by adding at the end the following: The amount allowable as a deduction by reason of this paragraph with respect to an aircraft provided by the taxpayer shall not exceed the expenses for goods, services, and facilities relating to such aircraft which are treated as such compensation and wages..", "id": "HA8839BC41A3C48CE9F03B3E1D9E7E0D3", "header": "In general", "nested": [], "links": [ { "text": "section 274(e)", "legal-doc": "usc", "parsable-cite": "usc/26/274" } ] }, { "text": "(b) Reduction in public debt \nThe increase in Federal receipts in the United States Treasury by reason of the amendment made by subsection (a) shall be used solely for reduction of the public debt, and for such purpose the Secretary of the Treasury shall deposit an amount equal to such receipts in the account specified in section 3113(d) of title 31, United States Code.", "id": "HD1DEEA1551A9462484C5B9FB13CAF074", "header": "Reduction in public debt", "nested": [], "links": [ { "text": "section 3113(d)", "legal-doc": "usc", "parsable-cite": "usc/31/3113" } ] }, { "text": "(c) Effective date \nThe amendment made by subsection (a) shall apply to expenses incurred after the date of the enactment of this Act in taxable years ending after such date.", "id": "HA155FA2D37C34BFF9B3F2506B7382537", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "section 274(e)", "legal-doc": "usc", "parsable-cite": "usc/26/274" }, { "text": "section 3113(d)", "legal-doc": "usc", "parsable-cite": "usc/31/3113" } ] } ]

[ "Aircraft", "Commerce", "Economics and Public Finance", "Expense accounts", "Fringe benefits", "Income tax", "Labor and Employment", "Leave of absence", "Private aviation", "Public debt", "Tax deductions", "Transportation and Public Works", "Wages" ]

[ { "text": "1. Short title \nThis Act may be cited as the Children’s Listbroker Privacy Act.", "id": "H222E557693204EDAA42F953B1F9B009E", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Findings \nCongress finds the following: (1) Commercial list brokers routinely advertise and sell detailed information on children, including names, addresses, ages, and other data, for use in marketing. This data is commonly available on children as young as two years old, enabling marketers to target specific demographics such as junior high school, elementary school, or even preschool. (2) Commercially available marketing databases can be very large, covering millions of children. (3) Commercially available marketing databases can include a variety of information on the children they cover, from ethnicity to family income to hobbies and interests. (4) Money spent on marketing to children has been estimated at $12 billion per year. (5) Several Federal statutes, including section 1061 of the No Child Left Behind Act, the Children’s Online Privacy Protection Act, and the Family and Educational Rights and Privacy Act, restrict the collection and disclosure of information about children or students under specified circumstances. When data on children is collected in a manner that is outside the scope of those statutes, however, Federal law does not significantly restrict the commercial sale or resale of such data. (6) The ability to sell information about children to marketers for a profit creates an economic incentive to find new and creative ways to collect and compile such information, and possibly to circumvent or subvert the intent of those federal statutes that do govern the collection of information about children or students. There are a variety of means and sources that marketers and list brokers can and do use to compile names, addresses, and other data about children.", "id": "H7436B4C9DFBF469785C045815D8FD322", "header": "Findings", "nested": [], "links": [] }, { "text": "3. Restriction on sale or purchase of children’s personal information \n(a) In general \nIt is unlawful— (1) to sell personal information about an individual the seller knows to be a child; (2) to purchase personal information about an individual identified by the seller as a child, for the purpose of marketing to that child; or (3) for a person who has provided a certification pursuant to subsection (b)(2), in connection with the purchase of personal information about an individual identified by the seller as a child, to engage in any practice that violates the terms of the certification. (b) Exceptions \n(1) Parental consent \nSubsection (a) shall not apply to any sale, purchase, or use of personal information about a child if the parent of the child has granted express consent to that sale, purchase, or use of the information. (2) Certification \nSubsection (a)(1) shall not apply to the sale of personal information about a child if the purchaser certifies to the seller, electronically or in writing, before the sale is completed— (A) the purpose for which the information will be used by the purchaser; and (B) that the purchaser will neither— (i) use the information for marketing that child; nor (ii) permit the information to be used by others for the purpose of marketing to that child.", "id": "H3C445C89F232459CBC47D0E4E46932D9", "header": "Restriction on sale or purchase of children’s personal information", "nested": [ { "text": "(a) In general \nIt is unlawful— (1) to sell personal information about an individual the seller knows to be a child; (2) to purchase personal information about an individual identified by the seller as a child, for the purpose of marketing to that child; or (3) for a person who has provided a certification pursuant to subsection (b)(2), in connection with the purchase of personal information about an individual identified by the seller as a child, to engage in any practice that violates the terms of the certification.", "id": "HE388678E8B364C7098C0007B187F100", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Exceptions \n(1) Parental consent \nSubsection (a) shall not apply to any sale, purchase, or use of personal information about a child if the parent of the child has granted express consent to that sale, purchase, or use of the information. (2) Certification \nSubsection (a)(1) shall not apply to the sale of personal information about a child if the purchaser certifies to the seller, electronically or in writing, before the sale is completed— (A) the purpose for which the information will be used by the purchaser; and (B) that the purchaser will neither— (i) use the information for marketing that child; nor (ii) permit the information to be used by others for the purpose of marketing to that child.", "id": "H47EB459C85FC403197C4884039E7D98D", "header": "Exceptions", "nested": [], "links": [] } ], "links": [] }, { "text": "4. Administration and enforcement \n(a) In general \nExcept as provided in subsection (b), this Act shall be enforced by the Federal Trade Commission as if the violation of section 3 of this Act were an unfair or deceptive act or practice proscribed under section 18(a)(1)(B) of the Federal Trade Commission Act ( 15 U.S.C. 57a(a)(1)(B) ). (b) Enforcement by certain other agencies \nCompliance with this Act shall be enforced under— (1) section 8 of the Federal Deposit Insurance Act ( 12 U.S.C. 1818 ), in the case of— (A) national banks, and Federal branches and Federal agencies of foreign banks, by the Office of the Comptroller of the Currency; (B) member banks of the Federal Reserve System (other than national banks), branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured State branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act (12 U.S.C. 601 and 611), by the Board; and (C) banks insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System) and insured State branches of foreign banks, by the Board of Directors of the Federal Deposit Insurance Corporation; (2) section 8 of the Federal Deposit Insurance Act ( 12 U.S.C. 1818 ), by the Director of the Office of Thrift Supervision, in the case of a savings association the deposits of which are insured by the Federal Deposit Insurance Corporation; (3) the Federal Credit Union Act ( 12 U.S.C. 1751 et seq. ) by the National Credit Union Administration Board with respect to any Federal credit union; (4) part A of subtitle VII of title 49, United States Code, by the Secretary of Transportation with respect to any air carrier or foreign air carrier subject to that part; (5) the Packers and Stockyards Act, 1921 ( 7 U.S.C. 181 et seq. ) (except as provided in section 406 of that Act ( 7 U.S.C. 226 , 227)), by the Secretary of Agriculture with respect to any activities subject to that Act; and (6) the Farm Credit Act of 1971 ( 12 U.S.C. 2001 et seq. ) by the Farm Credit Administration with respect to any Federal land bank, Federal land bank association, Federal intermediate credit bank, or production credit association. (c) Exercise of certain powers \nFor the purpose of the exercise by any agency referred to in subsection (b) of its powers under any Act referred to in that subsection, a violation of section 3 of this Act is deemed to be a violation of a requirement imposed under that Act. In addition to its powers under any provision of law specifically referred to in subsection (b), each of the agencies referred to in that subsection may exercise, for the purpose of enforcing compliance with any requirement imposed under section 3 of this Act, any other authority conferred on it by law. (d) Actions by the Commission \nThe Commission shall prevent any person from violating section 3 of this Act in the same manner, by the same means, and with the same jurisdiction, powers, and duties as though all applicable terms and provisions of the Federal Trade Commission Act ( 15 U.S.C. 41 et seq. ) were incorporated into and made a part of this Act. Any entity that violates any provision of that section is subject to the penalties and entitled to the privileges and immunities provided in the Federal Trade Commission Act in the same manner, by the same means, and with the same jurisdiction, power, and duties as though all applicable terms and provisions of the Federal Trade Commission Act were incorporated into and made a part of that section. (e) Preservation of Commission authority \nNothing contained in this section shall be construed to limit the authority of the Commission under any other provision of law.", "id": "H4FAE65FDF7E146E2004C5F316DE64942", "header": "Administration and enforcement", "nested": [ { "text": "(a) In general \nExcept as provided in subsection (b), this Act shall be enforced by the Federal Trade Commission as if the violation of section 3 of this Act were an unfair or deceptive act or practice proscribed under section 18(a)(1)(B) of the Federal Trade Commission Act ( 15 U.S.C. 57a(a)(1)(B) ).", "id": "H0BE71C056E484FCD831CBFA347B71BC", "header": "In general", "nested": [], "links": [ { "text": "15 U.S.C. 57a(a)(1)(B)", "legal-doc": "usc", "parsable-cite": "usc/15/57a" } ] }, { "text": "(b) Enforcement by certain other agencies \nCompliance with this Act shall be enforced under— (1) section 8 of the Federal Deposit Insurance Act ( 12 U.S.C. 1818 ), in the case of— (A) national banks, and Federal branches and Federal agencies of foreign banks, by the Office of the Comptroller of the Currency; (B) member banks of the Federal Reserve System (other than national banks), branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured State branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act (12 U.S.C. 601 and 611), by the Board; and (C) banks insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System) and insured State branches of foreign banks, by the Board of Directors of the Federal Deposit Insurance Corporation; (2) section 8 of the Federal Deposit Insurance Act ( 12 U.S.C. 1818 ), by the Director of the Office of Thrift Supervision, in the case of a savings association the deposits of which are insured by the Federal Deposit Insurance Corporation; (3) the Federal Credit Union Act ( 12 U.S.C. 1751 et seq. ) by the National Credit Union Administration Board with respect to any Federal credit union; (4) part A of subtitle VII of title 49, United States Code, by the Secretary of Transportation with respect to any air carrier or foreign air carrier subject to that part; (5) the Packers and Stockyards Act, 1921 ( 7 U.S.C. 181 et seq. ) (except as provided in section 406 of that Act ( 7 U.S.C. 226 , 227)), by the Secretary of Agriculture with respect to any activities subject to that Act; and (6) the Farm Credit Act of 1971 ( 12 U.S.C. 2001 et seq. ) by the Farm Credit Administration with respect to any Federal land bank, Federal land bank association, Federal intermediate credit bank, or production credit association.", "id": "H76026CD1FEC244B4976D8F4BBECFDB30", "header": "Enforcement by certain other agencies", "nested": [], "links": [ { "text": "12 U.S.C. 1818", "legal-doc": "usc", "parsable-cite": "usc/12/1818" }, { "text": "12 U.S.C. 1818", "legal-doc": "usc", "parsable-cite": "usc/12/1818" }, { "text": "12 U.S.C. 1751 et seq.", "legal-doc": "usc", "parsable-cite": "usc/12/1751" }, { "text": "7 U.S.C. 181 et seq.", "legal-doc": "usc", "parsable-cite": "usc/7/181" }, { "text": "7 U.S.C. 226", "legal-doc": "usc", "parsable-cite": "usc/7/226" }, { "text": "12 U.S.C. 2001 et seq.", "legal-doc": "usc", "parsable-cite": "usc/12/2001" } ] }, { "text": "(c) Exercise of certain powers \nFor the purpose of the exercise by any agency referred to in subsection (b) of its powers under any Act referred to in that subsection, a violation of section 3 of this Act is deemed to be a violation of a requirement imposed under that Act. In addition to its powers under any provision of law specifically referred to in subsection (b), each of the agencies referred to in that subsection may exercise, for the purpose of enforcing compliance with any requirement imposed under section 3 of this Act, any other authority conferred on it by law.", "id": "HAA752DA6F3094BC29B9439D26381A16", "header": "Exercise of certain powers", "nested": [], "links": [] }, { "text": "(d) Actions by the Commission \nThe Commission shall prevent any person from violating section 3 of this Act in the same manner, by the same means, and with the same jurisdiction, powers, and duties as though all applicable terms and provisions of the Federal Trade Commission Act ( 15 U.S.C. 41 et seq. ) were incorporated into and made a part of this Act. Any entity that violates any provision of that section is subject to the penalties and entitled to the privileges and immunities provided in the Federal Trade Commission Act in the same manner, by the same means, and with the same jurisdiction, power, and duties as though all applicable terms and provisions of the Federal Trade Commission Act were incorporated into and made a part of that section.", "id": "H4FE5F7D146B84DD7AF54BCA085D00C0", "header": "Actions by the Commission", "nested": [], "links": [ { "text": "15 U.S.C. 41 et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/41" } ] }, { "text": "(e) Preservation of Commission authority \nNothing contained in this section shall be construed to limit the authority of the Commission under any other provision of law.", "id": "H548F70160D794266AE15CC92E9D135D1", "header": "Preservation of Commission authority", "nested": [], "links": [] } ], "links": [ { "text": "15 U.S.C. 57a(a)(1)(B)", "legal-doc": "usc", "parsable-cite": "usc/15/57a" }, { "text": "12 U.S.C. 1818", "legal-doc": "usc", "parsable-cite": "usc/12/1818" }, { "text": "12 U.S.C. 1818", "legal-doc": "usc", "parsable-cite": "usc/12/1818" }, { "text": "12 U.S.C. 1751 et seq.", "legal-doc": "usc", "parsable-cite": "usc/12/1751" }, { "text": "7 U.S.C. 181 et seq.", "legal-doc": "usc", "parsable-cite": "usc/7/181" }, { "text": "7 U.S.C. 226", "legal-doc": "usc", "parsable-cite": "usc/7/226" }, { "text": "12 U.S.C. 2001 et seq.", "legal-doc": "usc", "parsable-cite": "usc/12/2001" }, { "text": "15 U.S.C. 41 et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/41" } ] }, { "text": "5. Actions by States \n(a) In general \n(1) Civil actions \nIn any case in which the attorney general of a State has reason to believe that an interest of the residents of that State has been or is threatened or adversely affected by the engagement of any person in a practice that section 3 of this Act, the State, as parens patriae, may bring a civil action on behalf of the residents of the State in a district court of the United States of appropriate jurisdiction— (A) to enjoin that practice; (B) to enforce compliance with the rule; (C) to obtain damage, restitution, or other compensation on behalf of residents of the State; or (D) to obtain such other relief as the court may consider to be appropriate. (2) Notice \n(A) In general \nBefore filing an action under paragraph (1), the attorney general of the State involved shall provide to the Commission— (i) written notice of that action; and (ii) a copy of the complaint for that action. (B) Exemption \n(i) In general \nSubparagraph (A) shall not apply with respect to the filing of an action by an attorney general of a State under this subsection, if the attorney general determines that it is not feasible to provide the notice described in that subparagraph before the filing of the action. (ii) Notification \nIn an action described in clause (i), the attorney general of a State shall provide notice and a copy of the complaint to the Commission at the same time as the attorney general files the action. (b) Intervention \n(1) In general \nOn receiving notice under subsection (a)(2), the Commission shall have the right to intervene in the action that is the subject of the notice. (2) Effect of intervention \nIf the Commission intervenes in an action under subsection (a), it shall have the right— (A) to be heard with respect to any matter that arises in that action; and (B) to file a petition for appeal. (c) Construction \nFor purposes of bringing any civil action under subsection (a), nothing in this subtitle shall be construed to prevent an attorney general of a State from exercising the powers conferred on the attorney general by the laws of that State to— (1) conduct investigations; (2) administer oaths or affirmations; or (3) compel the attendance of witnesses or the production of documentary and other evidence. (d) Actions by the Commission \nIn any case in which an action is instituted by or on behalf of the Commission for violation of section 2 of this Act, no State may, during the pendency of that action, institute an action under subsection (a) against any defendant named in the complaint in that action for violation of that section. (e) Venue; service of process \n(1) Venue \nAny action brought under subsection (a) may be brought in the district court of the United States that meets applicable requirements relating to venue under section 1391 of title 28, United States Code. (2) Service of process \nIn an action brought under subsection (a), process may be served in any district in which the defendant— (A) is an inhabitant; or (B) may be found.", "id": "H12D3C6709393463C80A54758BEAE49B8", "header": "Actions by States", "nested": [ { "text": "(a) In general \n(1) Civil actions \nIn any case in which the attorney general of a State has reason to believe that an interest of the residents of that State has been or is threatened or adversely affected by the engagement of any person in a practice that section 3 of this Act, the State, as parens patriae, may bring a civil action on behalf of the residents of the State in a district court of the United States of appropriate jurisdiction— (A) to enjoin that practice; (B) to enforce compliance with the rule; (C) to obtain damage, restitution, or other compensation on behalf of residents of the State; or (D) to obtain such other relief as the court may consider to be appropriate. (2) Notice \n(A) In general \nBefore filing an action under paragraph (1), the attorney general of the State involved shall provide to the Commission— (i) written notice of that action; and (ii) a copy of the complaint for that action. (B) Exemption \n(i) In general \nSubparagraph (A) shall not apply with respect to the filing of an action by an attorney general of a State under this subsection, if the attorney general determines that it is not feasible to provide the notice described in that subparagraph before the filing of the action. (ii) Notification \nIn an action described in clause (i), the attorney general of a State shall provide notice and a copy of the complaint to the Commission at the same time as the attorney general files the action.", "id": "HD0E0EE9D18084440BADC4C6D6E82C9EC", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Intervention \n(1) In general \nOn receiving notice under subsection (a)(2), the Commission shall have the right to intervene in the action that is the subject of the notice. (2) Effect of intervention \nIf the Commission intervenes in an action under subsection (a), it shall have the right— (A) to be heard with respect to any matter that arises in that action; and (B) to file a petition for appeal.", "id": "HF8BD999D52C1491D8FD9007DE1A4ACE6", "header": "Intervention", "nested": [], "links": [] }, { "text": "(c) Construction \nFor purposes of bringing any civil action under subsection (a), nothing in this subtitle shall be construed to prevent an attorney general of a State from exercising the powers conferred on the attorney general by the laws of that State to— (1) conduct investigations; (2) administer oaths or affirmations; or (3) compel the attendance of witnesses or the production of documentary and other evidence.", "id": "H18B818B1CBEF4EF19DCB0239538DAAFD", "header": "Construction", "nested": [], "links": [] }, { "text": "(d) Actions by the Commission \nIn any case in which an action is instituted by or on behalf of the Commission for violation of section 2 of this Act, no State may, during the pendency of that action, institute an action under subsection (a) against any defendant named in the complaint in that action for violation of that section.", "id": "HFE7F312A6C8643DEBCA6262FB7503700", "header": "Actions by the Commission", "nested": [], "links": [] }, { "text": "(e) Venue; service of process \n(1) Venue \nAny action brought under subsection (a) may be brought in the district court of the United States that meets applicable requirements relating to venue under section 1391 of title 28, United States Code. (2) Service of process \nIn an action brought under subsection (a), process may be served in any district in which the defendant— (A) is an inhabitant; or (B) may be found.", "id": "H265FA4E723C240088C6F92E4D5A8CD7", "header": "Venue; service of process", "nested": [], "links": [ { "text": "section 1391", "legal-doc": "usc", "parsable-cite": "usc/28/1391" } ] } ], "links": [ { "text": "section 1391", "legal-doc": "usc", "parsable-cite": "usc/28/1391" } ] }, { "text": "6. Definitions \nIn this Act: (1) Child \nThe term child means an individual under the age of 16. (2) Commission \nThe term Commission means the Federal Trade Commission. (3) Express consent \n(A) In general \nThe term express consent means an affirmative indication of permission in writing or electronic form. The term express consent does not include consent inferred from a failure to indicate affirmatively that consent is denied or withheld. (B) Prerequisites \nExpress consent is not valid unless— (i) before granting the consent the individual granting the consent was informed of the purpose for which the information would be sold, purchased, or used; and (ii) consent was not granted as a condition for making a product, service, or warranty available to the individual or the child to which the information pertains. (4) Marketing \nThe term marketing means making a communication to encourage the purchase or use of a commercial product or service. For purposes of this paragraph, a product or service shall be considered to be commercial if some or all of the proceeds from the sale inure to the benefit of an enterprise conducted for profit. (5) Parent \nThe term parent includes a legal guardian. (6) Personal information \nThe term personal information means identifiable information about an individual, including— (A) a name; (B) a home or other physical address including street name and name of a city or town; (C) an e-mail address or online username; (D) a telephone number; (E) a Social Security number; or (F) any other information that permits a specific individual to be identified. (7) Purchase; sell; sale \nIn section 3, the terms purchase , sell , and sale include the purchase and sale of the right to use personal information, without regard to whether— (A) the right is limited or unlimited; (B) the transaction is characterized as a purchase, sale, lease, or otherwise; and (C) the consideration for the transaction is monetary, goods, or services.", "id": "H81927843BB7B4216A1001C884EFC753D", "header": "Definitions", "nested": [], "links": [] }, { "text": "7. Effective date \nThis Act shall take effect 6 months after the date of enactment.", "id": "H51BABBFA46754BE99E003F51569C6465", "header": "Effective date", "nested": [], "links": [] } ]

[ "Bank records", "Business records", "Child welfare", "Civil Rights and Liberties, Minority Issues", "Civil actions and liability", "Consumer education", "Consumer protection", "Damages", "Directories", "Families", "Finance and Financial Sector", "Fines (Penalties)", "Government Operations and Politics", "Government paperwork", "Identification devices", "Injunctions", "Law", "Marketing", "Names", "Parent and child", "Parties to actions", "Restrictive trade practices", "Right of privacy", "Sales promotion", "Social Welfare", "Social security numbers" ]

[ { "text": "1. Pigment Yellow 154 \n(a) In general \nHeading 9902.32.18 of the Harmonized Tariff Schedule of the United States is amended by striking 12/31/2002 and inserting 12/31/2006. (b) Effective date \nThe amendment made by subsection (a) applies with respect to goods entered, or withdrawn from warehouse for consumption, on or after January 1, 2003.", "id": "H7F0BB677E40845CC9BDB5B92DBB05E1", "header": "Pigment Yellow 154", "nested": [ { "text": "(a) In general \nHeading 9902.32.18 of the Harmonized Tariff Schedule of the United States is amended by striking 12/31/2002 and inserting 12/31/2006.", "id": "H3C05EDADD9F8449BB7005D8746C6C462", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Effective date \nThe amendment made by subsection (a) applies with respect to goods entered, or withdrawn from warehouse for consumption, on or after January 1, 2003.", "id": "HF2215CE9D09046F49BE504536979C891", "header": "Effective date", "nested": [], "links": [] } ], "links": [] } ]

[ "Commerce", "Dyes and dyeing", "Tariff" ]

[ { "text": "1. Bullying and Harassment Prevention Policies, Programs, and Statistics \n(a) State Reporting Requirements \nSection 4112(c)(3)(B)(iv) of the Safe and Drug-Free Schools and Communities Act ( 20 U.S.C. 7112(c)(3)(B)(iv) ) is amended by inserting , including bullying and harassment, after violence. (b) State Application \nSection 4113(a) of such Act ( 20 U.S.C. 7113(a) ) is amended— (1) in paragraph (9)— (A) in subparagraph (C), by striking and at the end; and (B) by adding at the end the following: (E) the incidence and prevalence of reported incidents of bullying and harassment; and (F) the perception of students regarding their school environment, including with respect to the prevalence and seriousness of incidents of bullying and harassment and the responsiveness of the school to those incidents; ; (2) in paragraph (18), by striking and at the end; (3) in paragraph (19), by striking the period at the end and inserting ; and ; and (4) by adding at the end the following: (20) provides an assurance that the State educational agency will provide assistance to districts and schools in their efforts to prevent and appropriately respond to incidents of bullying and harassment and describes how the agency will meet this requirement.. (c) Local Educational Agency Program Application \nSection 4114(d) of such Act ( 20 U.S.C. 7114(d) ) is amended— (1) in paragraph (2)(B)(i)— (A) in the matter preceding subclause (I), by striking the semicolon and inserting a comma; (B) in subclause (I), by striking and at the end; and (C) by adding at the end the following: (III) performance indicators for bullying and harassment prevention programs and activities; and ; and (2) in paragraph (7)— (A) in subparagraph (A), by inserting , including bullying and harassment after disorderly conduct ; (B) in subparagraph (D), by striking and at the end; and (C) by adding at the end the following: (F) annual notice to parents and students describing the full range of prohibited conduct contained in the discipline policies described in subparagraph (A); and (G) complaint procedures for students or parents that seek to register complaints regarding the prohibited conduct contained in the discipline policies described in subparagraph (A), including— (i) the name of the school or district officials who are designated as responsible for receiving such complaints; and (ii) timelines that the school or district will follow in the resolution of such complaints;. (d) Authorized Activities \nSection 4115(b)(2) of such Act ( 20 U.S.C. 7115(b)(2) ) is amended— (1) in subparagraph (A)— (A) in clause (vi), by striking and at the end; (B) in clause (vii), by striking the period at the end and inserting ; and ; and (C) by adding at the end the following: (viii) teach students about the consequences of bullying and harassment. ; and (2) in subparagraph (E), by adding at the end the following: (xxiii) Programs that address the causes of bullying and harassment and that train teachers, administrators, and counselors regarding strategies to prevent bullying and harassment and to effectively intervene when such incidents occur.. (e) Reporting \nSection 4116(a)(2)(B) of such Act ( 20 U.S.C. 7116(a)(2)(B) ) is amended by inserting , including bullying and harassment, after drug use and violence. (f) Impact Evaluation \nSection 4122 of such Act ( 20 U.S.C. 7132 ) is amended— (1) in subsection (a)(2), by striking and school violence and inserting school violence, including bullying and harassment, ; and (2) in the first sentence of subsection (b), by inserting , including bullying and harassment, after drug use and violence. (g) Definitions \n(1) Drug and Violence Prevention \nParagraph (3)(B) of section 4151 of such Act ( 20 U.S.C. 7151 ) is amended by inserting , bullying, and other harassment after sexual harassment and abuse. (2) Protective Factor, Buffer, or Asset \nParagraph (6) of such section is amended by inserting , including bullying and harassment after violent behavior. (3) Risk Factor \nParagraph (7) of such section is amended by inserting , including bullying and harassment after violent behavior. (4) Bullying, Harassment, and Violence \nSuch section is further amended by adding at the end the following: (12) Bullying \nThe term bullying means conduct, including conduct that is based on a student’s actual or perceived identity with regard to race, color, national origin, gender, disability, sexual orientation, religion, or any other distinguishing characteristics that may be defined by a State or local educational agency, that— (A) is directed at one or more students; (B) substantially interferes with educational opportunities or educational programs of such students; and (C) adversely affects the ability of a student to participate in or benefit from the school’s educational programs or activities by placing a student in reasonable fear of physical harm. (13) Harassment \nThe term harassment means conduct, including conduct that is based on a student’s actual or perceived identity with regard to race, color, national origin, gender, disability, sexual orientation, religion, or any other distinguishing characteristics that may be defined by a State or local educational agency, that— (A) is directed at one or more students; (B) substantially interferes with educational opportunities or educational programs of such students; and (C) adversely affects the ability of a student to participate in or benefit from the school’s educational programs or activities because the conduct as reasonably perceived by the student is so severe, pervasive, and objectively offensive. (14) Violence \nThe term violence includes bullying and harassment.. (h) Effect on Other Laws \n(1) Amendment \nThe Safe and Drug-Free Schools and Communities Act ( 20 U.S.C. 7101 et seq. ) is amended by adding at the end the following: 4156. Effect on Other Laws \n(a) Federal and State Nondiscrimination Laws \nNothing in this part shall be construed to alter legal standards regarding, or limit rights available to victims of, bullying or harassment under other Federal or State laws, including title VI of the Civil Rights Act of 1964 ( 42 U.S.C. 2000d et seq. ), title IX of the Education Amendments of 1972 ( 20 U.S.C. 1681 et seq. ), section 504 of the Rehabilitation Act of 1973 ( 29 U.S.C. 794 ), or the Americans with Disabilities Act of 1990 ( 42 U.S.C. 12101 et seq. ). (b) Free Speech and Expression Laws \nNothing in this part shall be construed to alter legal standards regarding, or affect the rights available to individuals under, other Federal laws that establish protections for freedom of speech and expression.. (2) Clerical Amendment \nThe table of contents of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 6301 et seq. ) is amended by adding after the item relating to section 4155 the following: Sec. 4156. Effect on other laws.", "id": "HD6054A76BBD54BE684216EF794A3C713", "header": "Bullying and Harassment Prevention Policies, Programs, and Statistics", "nested": [ { "text": "(a) State Reporting Requirements \nSection 4112(c)(3)(B)(iv) of the Safe and Drug-Free Schools and Communities Act ( 20 U.S.C. 7112(c)(3)(B)(iv) ) is amended by inserting , including bullying and harassment, after violence.", "id": "HEE95825A4404447A89F7085F35E2F61", "header": "State Reporting Requirements", "nested": [], "links": [ { "text": "20 U.S.C. 7112(c)(3)(B)(iv)", "legal-doc": "usc", "parsable-cite": "usc/20/7112" } ] }, { "text": "(b) State Application \nSection 4113(a) of such Act ( 20 U.S.C. 7113(a) ) is amended— (1) in paragraph (9)— (A) in subparagraph (C), by striking and at the end; and (B) by adding at the end the following: (E) the incidence and prevalence of reported incidents of bullying and harassment; and (F) the perception of students regarding their school environment, including with respect to the prevalence and seriousness of incidents of bullying and harassment and the responsiveness of the school to those incidents; ; (2) in paragraph (18), by striking and at the end; (3) in paragraph (19), by striking the period at the end and inserting ; and ; and (4) by adding at the end the following: (20) provides an assurance that the State educational agency will provide assistance to districts and schools in their efforts to prevent and appropriately respond to incidents of bullying and harassment and describes how the agency will meet this requirement..", "id": "H0D1868F74B044DF0B3DBF564DFE000E4", "header": "State Application", "nested": [], "links": [ { "text": "20 U.S.C. 7113(a)", "legal-doc": "usc", "parsable-cite": "usc/20/7113" } ] }, { "text": "(c) Local Educational Agency Program Application \nSection 4114(d) of such Act ( 20 U.S.C. 7114(d) ) is amended— (1) in paragraph (2)(B)(i)— (A) in the matter preceding subclause (I), by striking the semicolon and inserting a comma; (B) in subclause (I), by striking and at the end; and (C) by adding at the end the following: (III) performance indicators for bullying and harassment prevention programs and activities; and ; and (2) in paragraph (7)— (A) in subparagraph (A), by inserting , including bullying and harassment after disorderly conduct ; (B) in subparagraph (D), by striking and at the end; and (C) by adding at the end the following: (F) annual notice to parents and students describing the full range of prohibited conduct contained in the discipline policies described in subparagraph (A); and (G) complaint procedures for students or parents that seek to register complaints regarding the prohibited conduct contained in the discipline policies described in subparagraph (A), including— (i) the name of the school or district officials who are designated as responsible for receiving such complaints; and (ii) timelines that the school or district will follow in the resolution of such complaints;.", "id": "H0623B1C2354F471D97FCF818DCF9E731", "header": "Local Educational Agency Program Application", "nested": [], "links": [ { "text": "20 U.S.C. 7114(d)", "legal-doc": "usc", "parsable-cite": "usc/20/7114" } ] }, { "text": "(d) Authorized Activities \nSection 4115(b)(2) of such Act ( 20 U.S.C. 7115(b)(2) ) is amended— (1) in subparagraph (A)— (A) in clause (vi), by striking and at the end; (B) in clause (vii), by striking the period at the end and inserting ; and ; and (C) by adding at the end the following: (viii) teach students about the consequences of bullying and harassment. ; and (2) in subparagraph (E), by adding at the end the following: (xxiii) Programs that address the causes of bullying and harassment and that train teachers, administrators, and counselors regarding strategies to prevent bullying and harassment and to effectively intervene when such incidents occur..", "id": "H59557F0451804AEEA4BFDA8E63D9196B", "header": "Authorized Activities", "nested": [], "links": [ { "text": "20 U.S.C. 7115(b)(2)", "legal-doc": "usc", "parsable-cite": "usc/20/7115" } ] }, { "text": "(e) Reporting \nSection 4116(a)(2)(B) of such Act ( 20 U.S.C. 7116(a)(2)(B) ) is amended by inserting , including bullying and harassment, after drug use and violence.", "id": "H1E5CE6EB79B440E8923F0092887BF400", "header": "Reporting", "nested": [], "links": [ { "text": "20 U.S.C. 7116(a)(2)(B)", "legal-doc": "usc", "parsable-cite": "usc/20/7116" } ] }, { "text": "(f) Impact Evaluation \nSection 4122 of such Act ( 20 U.S.C. 7132 ) is amended— (1) in subsection (a)(2), by striking and school violence and inserting school violence, including bullying and harassment, ; and (2) in the first sentence of subsection (b), by inserting , including bullying and harassment, after drug use and violence.", "id": "HB5F007B9D5CD4AD58BFD077B5C4463C6", "header": "Impact Evaluation", "nested": [], "links": [ { "text": "20 U.S.C. 7132", "legal-doc": "usc", "parsable-cite": "usc/20/7132" } ] }, { "text": "(g) Definitions \n(1) Drug and Violence Prevention \nParagraph (3)(B) of section 4151 of such Act ( 20 U.S.C. 7151 ) is amended by inserting , bullying, and other harassment after sexual harassment and abuse. (2) Protective Factor, Buffer, or Asset \nParagraph (6) of such section is amended by inserting , including bullying and harassment after violent behavior. (3) Risk Factor \nParagraph (7) of such section is amended by inserting , including bullying and harassment after violent behavior. (4) Bullying, Harassment, and Violence \nSuch section is further amended by adding at the end the following: (12) Bullying \nThe term bullying means conduct, including conduct that is based on a student’s actual or perceived identity with regard to race, color, national origin, gender, disability, sexual orientation, religion, or any other distinguishing characteristics that may be defined by a State or local educational agency, that— (A) is directed at one or more students; (B) substantially interferes with educational opportunities or educational programs of such students; and (C) adversely affects the ability of a student to participate in or benefit from the school’s educational programs or activities by placing a student in reasonable fear of physical harm. (13) Harassment \nThe term harassment means conduct, including conduct that is based on a student’s actual or perceived identity with regard to race, color, national origin, gender, disability, sexual orientation, religion, or any other distinguishing characteristics that may be defined by a State or local educational agency, that— (A) is directed at one or more students; (B) substantially interferes with educational opportunities or educational programs of such students; and (C) adversely affects the ability of a student to participate in or benefit from the school’s educational programs or activities because the conduct as reasonably perceived by the student is so severe, pervasive, and objectively offensive. (14) Violence \nThe term violence includes bullying and harassment..", "id": "H3A36DF0D2522466BB717625D7B301E60", "header": "Definitions", "nested": [], "links": [ { "text": "20 U.S.C. 7151", "legal-doc": "usc", "parsable-cite": "usc/20/7151" } ] }, { "text": "(h) Effect on Other Laws \n(1) Amendment \nThe Safe and Drug-Free Schools and Communities Act ( 20 U.S.C. 7101 et seq. ) is amended by adding at the end the following: 4156. Effect on Other Laws \n(a) Federal and State Nondiscrimination Laws \nNothing in this part shall be construed to alter legal standards regarding, or limit rights available to victims of, bullying or harassment under other Federal or State laws, including title VI of the Civil Rights Act of 1964 ( 42 U.S.C. 2000d et seq. ), title IX of the Education Amendments of 1972 ( 20 U.S.C. 1681 et seq. ), section 504 of the Rehabilitation Act of 1973 ( 29 U.S.C. 794 ), or the Americans with Disabilities Act of 1990 ( 42 U.S.C. 12101 et seq. ). (b) Free Speech and Expression Laws \nNothing in this part shall be construed to alter legal standards regarding, or affect the rights available to individuals under, other Federal laws that establish protections for freedom of speech and expression.. (2) Clerical Amendment \nThe table of contents of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 6301 et seq. ) is amended by adding after the item relating to section 4155 the following: Sec. 4156. Effect on other laws.", "id": "HEFE6DAC124E849D3BE8EF032007E1E5E", "header": "Effect on Other Laws", "nested": [], "links": [ { "text": "20 U.S.C. 7101 et seq.", "legal-doc": "usc", "parsable-cite": "usc/20/7101" }, { "text": "42 U.S.C. 2000d et seq.", "legal-doc": "usc", "parsable-cite": "usc/42/2000d" }, { "text": "20 U.S.C. 1681 et seq.", "legal-doc": "usc", "parsable-cite": "usc/20/1681" }, { "text": "29 U.S.C. 794", "legal-doc": "usc", "parsable-cite": "usc/29/794" }, { "text": "42 U.S.C. 12101 et seq.", "legal-doc": "usc", "parsable-cite": "usc/42/12101" }, { "text": "20 U.S.C. 6301 et seq.", "legal-doc": "usc", "parsable-cite": "usc/20/6301" } ] } ], "links": [ { "text": "20 U.S.C. 7112(c)(3)(B)(iv)", "legal-doc": "usc", "parsable-cite": "usc/20/7112" }, { "text": "20 U.S.C. 7113(a)", "legal-doc": "usc", "parsable-cite": "usc/20/7113" }, { "text": "20 U.S.C. 7114(d)", "legal-doc": "usc", "parsable-cite": "usc/20/7114" }, { "text": "20 U.S.C. 7115(b)(2)", "legal-doc": "usc", "parsable-cite": "usc/20/7115" }, { "text": "20 U.S.C. 7116(a)(2)(B)", "legal-doc": "usc", "parsable-cite": "usc/20/7116" }, { "text": "20 U.S.C. 7132", "legal-doc": "usc", "parsable-cite": "usc/20/7132" }, { "text": "20 U.S.C. 7151", "legal-doc": "usc", "parsable-cite": "usc/20/7151" }, { "text": "20 U.S.C. 7101 et seq.", "legal-doc": "usc", "parsable-cite": "usc/20/7101" }, { "text": "42 U.S.C. 2000d et seq.", "legal-doc": "usc", "parsable-cite": "usc/42/2000d" }, { "text": "20 U.S.C. 1681 et seq.", "legal-doc": "usc", "parsable-cite": "usc/20/1681" }, { "text": "29 U.S.C. 794", "legal-doc": "usc", "parsable-cite": "usc/29/794" }, { "text": "42 U.S.C. 12101 et seq.", "legal-doc": "usc", "parsable-cite": "usc/42/12101" }, { "text": "20 U.S.C. 6301 et seq.", "legal-doc": "usc", "parsable-cite": "usc/20/6301" } ] }, { "text": "4156. Effect on Other Laws \n(a) Federal and State Nondiscrimination Laws \nNothing in this part shall be construed to alter legal standards regarding, or limit rights available to victims of, bullying or harassment under other Federal or State laws, including title VI of the Civil Rights Act of 1964 ( 42 U.S.C. 2000d et seq. ), title IX of the Education Amendments of 1972 ( 20 U.S.C. 1681 et seq. ), section 504 of the Rehabilitation Act of 1973 ( 29 U.S.C. 794 ), or the Americans with Disabilities Act of 1990 ( 42 U.S.C. 12101 et seq. ). (b) Free Speech and Expression Laws \nNothing in this part shall be construed to alter legal standards regarding, or affect the rights available to individuals under, other Federal laws that establish protections for freedom of speech and expression.", "id": "H3AA5A23150EE477FA70093DC375EFE", "header": "Effect on Other Laws", "nested": [ { "text": "(a) Federal and State Nondiscrimination Laws \nNothing in this part shall be construed to alter legal standards regarding, or limit rights available to victims of, bullying or harassment under other Federal or State laws, including title VI of the Civil Rights Act of 1964 ( 42 U.S.C. 2000d et seq. ), title IX of the Education Amendments of 1972 ( 20 U.S.C. 1681 et seq. ), section 504 of the Rehabilitation Act of 1973 ( 29 U.S.C. 794 ), or the Americans with Disabilities Act of 1990 ( 42 U.S.C. 12101 et seq. ).", "id": "H5794E96736A246EFB18700325B1F3D87", "header": "Federal and State Nondiscrimination Laws", "nested": [], "links": [ { "text": "42 U.S.C. 2000d et seq.", "legal-doc": "usc", "parsable-cite": "usc/42/2000d" }, { "text": "20 U.S.C. 1681 et seq.", "legal-doc": "usc", "parsable-cite": "usc/20/1681" }, { "text": "29 U.S.C. 794", "legal-doc": "usc", "parsable-cite": "usc/29/794" }, { "text": "42 U.S.C. 12101 et seq.", "legal-doc": "usc", "parsable-cite": "usc/42/12101" } ] }, { "text": "(b) Free Speech and Expression Laws \nNothing in this part shall be construed to alter legal standards regarding, or affect the rights available to individuals under, other Federal laws that establish protections for freedom of speech and expression.", "id": "H0083EFD08A554C76B2468816BD9B6183", "header": "Free Speech and Expression Laws", "nested": [], "links": [] } ], "links": [ { "text": "42 U.S.C. 2000d et seq.", "legal-doc": "usc", "parsable-cite": "usc/42/2000d" }, { "text": "20 U.S.C. 1681 et seq.", "legal-doc": "usc", "parsable-cite": "usc/20/1681" }, { "text": "29 U.S.C. 794", "legal-doc": "usc", "parsable-cite": "usc/29/794" }, { "text": "42 U.S.C. 12101 et seq.", "legal-doc": "usc", "parsable-cite": "usc/42/12101" } ] } ]

[ "Child safety", "Civil Rights and Liberties, Minority Issues", "Crime and Law Enforcement", "Disabled", "Discrimination against the disabled", "Discrimination in education", "Economics and Public Finance", "Educational accountability", "Educational counseling", "Educational statistics", "Elementary and secondary education", "Elementary education", "Families", "Federal aid to education", "Government Operations and Politics", "Government paperwork", "Grievance procedures", "Minorities", "Parent-school relationships", "Racial discrimination", "Religion", "Religious liberty", "School administration", "School discipline", "School personnel", "Secondary education", "Sex discrimination", "Sexual harassment", "Teachers", "Women", "Youth violence" ]

[ { "text": "1. Short title; table of contents \n(a) Short title \nThis Act may be cited as the. (b) Table of contents \nThe table of contents of this Act is as follows: Sec. 1. Short title; table of contents Sec. 2. Findings and purposes Title I—Prohibition of Racial profiling Sec. 101. Prohibition Sec. 102. Enforcement Title II—Programs to eliminate Racial profiling by Federal law enforcement agencies Sec. 201. Policies to eliminate racial profiling Title III—Programs to eliminate Racial profiling by State and local law enforcement agencies Sec. 301. Policies required for grants Sec. 302. Best practices development grants Title IV—Department of Justice reports on Racial profiling in the United States Sec. 401. Attorney General to issue reports on racial profiling in the United States Sec. 402. Limitation on use of data Title V—Definitions and miscellaneous provisions Sec. 501. Definitions Sec. 502. Severability Sec. 503. Savings clause", "id": "HC649970BE82943A1BAC946C7A8D357C", "header": "Short title; table of contents", "nested": [ { "text": "(a) Short title \nThis Act may be cited as the.", "id": "H81D8EFCFECED4C9293CC41543696632D", "header": "Short title", "nested": [], "links": [] }, { "text": "(b) Table of contents \nThe table of contents of this Act is as follows: Sec. 1. Short title; table of contents Sec. 2. Findings and purposes Title I—Prohibition of Racial profiling Sec. 101. Prohibition Sec. 102. Enforcement Title II—Programs to eliminate Racial profiling by Federal law enforcement agencies Sec. 201. Policies to eliminate racial profiling Title III—Programs to eliminate Racial profiling by State and local law enforcement agencies Sec. 301. Policies required for grants Sec. 302. Best practices development grants Title IV—Department of Justice reports on Racial profiling in the United States Sec. 401. Attorney General to issue reports on racial profiling in the United States Sec. 402. Limitation on use of data Title V—Definitions and miscellaneous provisions Sec. 501. Definitions Sec. 502. Severability Sec. 503. Savings clause", "id": "H82C5AF1D91954E2D86392FF7285B1D90", "header": "Table of contents", "nested": [], "links": [] } ], "links": [] }, { "text": "2. Findings and purposes \n(a) Findings \nCongress finds the following: (1) Federal, State, and local law enforcement agents play a vital role in protecting the public from crime and protecting the Nation from terrorism. The vast majority of law enforcement agents nationwide discharge their duties professionally and without bias. (2) The use by police officers of race, ethnicity, religion, or national origin in deciding which persons should be subject to traffic stops, stops and frisks, questioning, searches, and seizures is improper. (3) In his address to a Joint Session of Congress on February 27, 2001, President George W. Bush declared that racial profiling is wrong and we will end it in America. He directed the Attorney General to implement this policy. (4) In June 2003, the Department of Justice issued a Policy Guidance regarding racial profiling by Federal law enforcement agencies which stated: Racial profiling in law enforcement is not merely wrong, but also ineffective. Race-based assumptions in law enforcement perpetuate negative racial stereotypes that are harmful to our rich and diverse democracy, and materially impair our efforts to maintain a fair and just society. (5) The Department of Justice Guidance is a useful first step, but does not achieve the President’s stated goal of ending racial profiling in America: it does not apply to State and local law enforcement agencies, does not contain a meaningful enforcement mechanism, does not require data collection, and contains an overbroad exception for immigration and national security matters. (6) Current efforts by State and local governments to eradicate racial profiling and redress the harms it causes, while also laudable, have been limited in scope and insufficient to address this national problem. Therefore, Federal legislation is needed. (7) Statistical evidence from across the country demonstrates that racial profiling is a real and measurable phenomenon. (8) As of November 15, 2000, the Department of Justice had 14 publicly noticed, ongoing, pattern or practice investigations involving allegations of racial profiling, and had filed 5 pattern and practice lawsuits involving allegations of racial profiling, with 4 of those cases resolved through consent decrees. (9) A large majority of individuals subjected to stops and other enforcement activities based on race, ethnicity, religion, or national origin are found to be law abiding and therefore racial profiling is not an effective means to uncover criminal activity. (10) A 2001 Department of Justice report on citizen-police contacts in 1999 found that, although African-Americans and Hispanics were more likely to be stopped and searched, they were less likely to be in possession of contraband. On average, searches and seizures of African-American drivers yielded evidence only 8 percent of the time, searches and seizures of Hispanic drivers yielded evidence only 10 percent of the time, and searches and seizures of white drivers yielded evidence 17 percent of the time. (11) A 2000 General Accounting Office report on the activities of the United States Customs Service during fiscal year 1998 found that— (A) black women who were United States citizens were 9 times more likely than white women who were United States citizens to be x-rayed after being frisked or patted down; (B) black women who were United States citizens were less than half as likely as white women who were United States citizens to be found carrying contraband; and (C) in general, the patterns used to select passengers for more intrusive searches resulted in women and minorities being selected at rates that were not consistent with the rates of finding contraband. (12) In some jurisdictions, local law enforcement practices such as ticket and arrest quotas, and similar management practices, may have the unintended effect of encouraging law enforcement agents to engage in racial profiling. (13) Racial profiling harms individuals subjected to it because they experience fear, anxiety, humiliation, anger, resentment, and cynicism when they are unjustifiably treated as criminal suspects. By discouraging individuals from traveling freely, racial profiling impairs both interstate and intrastate commerce. (14) Racial profiling damages law enforcement and the criminal justice system as a whole by undermining public confidence and trust in the police, the courts, and the criminal law. (15) In the wake of the September 11, 2001, terrorist attacks, many Arabs, Muslims, Central and South Asians, and Sikhs, as well as other immigrants and Americans of foreign descent, were treated with generalized suspicion and subjected to searches and seizures based upon religion and national origin, without trustworthy information linking specific individuals to criminal conduct. Such profiling has failed to produce tangible benefits, yet has created a fear and mistrust of law enforcement agencies in these communities. (16) Racial profiling violates the equal protection clause of the Constitution. Using race, ethnicity, religion, or national origin as a proxy for criminal suspicion violates the constitutional requirement that police and other government officials accord to all citizens the equal protection of the law. Arlington Heights v. Metropolitan Housing Development Corporation, 429 U.S. 252 (1977). (17) Racial profiling is not adequately addressed through suppression motions in criminal cases for two reasons. First, the Supreme Court held, in Whren v. United States, 517 U.S. 806 (1996), that the racially discriminatory motive of a police officer in making an otherwise valid traffic stop does not warrant the suppression of evidence. Second, since most stops do not result in the discovery of contraband, there is no criminal prosecution and no evidence to suppress. (18) A comprehensive national solution is needed to address racial profiling at the Federal, State, and local levels. Federal support is needed to combat racial profiling through specialized training of law enforcement agents, improved management systems, and the acquisition of technology such as in-car video cameras. (b) Purposes \nThe purposes of this Act are— (1) to enforce the constitutional right to equal protection of the laws, pursuant to the Fifth Amendment and section 5 of the 14th Amendment to the Constitution of the United States; (2) to enforce the constitutional right to protection against unreasonable searches and seizures, pursuant to the Fourth Amendment to the Constitution of the United States; (3) to enforce the constitutional right to interstate travel, pursuant to section 2 of article IV of the Constitution of the United States; and (4) to regulate interstate commerce, pursuant to clause 3 of section 8 of article I of the Constitution of the United States.", "id": "HB4A0AB3E51514E54A77E5E1E05E9B2B3", "header": "Findings and purposes", "nested": [ { "text": "(a) Findings \nCongress finds the following: (1) Federal, State, and local law enforcement agents play a vital role in protecting the public from crime and protecting the Nation from terrorism. The vast majority of law enforcement agents nationwide discharge their duties professionally and without bias. (2) The use by police officers of race, ethnicity, religion, or national origin in deciding which persons should be subject to traffic stops, stops and frisks, questioning, searches, and seizures is improper. (3) In his address to a Joint Session of Congress on February 27, 2001, President George W. Bush declared that racial profiling is wrong and we will end it in America. He directed the Attorney General to implement this policy. (4) In June 2003, the Department of Justice issued a Policy Guidance regarding racial profiling by Federal law enforcement agencies which stated: Racial profiling in law enforcement is not merely wrong, but also ineffective. Race-based assumptions in law enforcement perpetuate negative racial stereotypes that are harmful to our rich and diverse democracy, and materially impair our efforts to maintain a fair and just society. (5) The Department of Justice Guidance is a useful first step, but does not achieve the President’s stated goal of ending racial profiling in America: it does not apply to State and local law enforcement agencies, does not contain a meaningful enforcement mechanism, does not require data collection, and contains an overbroad exception for immigration and national security matters. (6) Current efforts by State and local governments to eradicate racial profiling and redress the harms it causes, while also laudable, have been limited in scope and insufficient to address this national problem. Therefore, Federal legislation is needed. (7) Statistical evidence from across the country demonstrates that racial profiling is a real and measurable phenomenon. (8) As of November 15, 2000, the Department of Justice had 14 publicly noticed, ongoing, pattern or practice investigations involving allegations of racial profiling, and had filed 5 pattern and practice lawsuits involving allegations of racial profiling, with 4 of those cases resolved through consent decrees. (9) A large majority of individuals subjected to stops and other enforcement activities based on race, ethnicity, religion, or national origin are found to be law abiding and therefore racial profiling is not an effective means to uncover criminal activity. (10) A 2001 Department of Justice report on citizen-police contacts in 1999 found that, although African-Americans and Hispanics were more likely to be stopped and searched, they were less likely to be in possession of contraband. On average, searches and seizures of African-American drivers yielded evidence only 8 percent of the time, searches and seizures of Hispanic drivers yielded evidence only 10 percent of the time, and searches and seizures of white drivers yielded evidence 17 percent of the time. (11) A 2000 General Accounting Office report on the activities of the United States Customs Service during fiscal year 1998 found that— (A) black women who were United States citizens were 9 times more likely than white women who were United States citizens to be x-rayed after being frisked or patted down; (B) black women who were United States citizens were less than half as likely as white women who were United States citizens to be found carrying contraband; and (C) in general, the patterns used to select passengers for more intrusive searches resulted in women and minorities being selected at rates that were not consistent with the rates of finding contraband. (12) In some jurisdictions, local law enforcement practices such as ticket and arrest quotas, and similar management practices, may have the unintended effect of encouraging law enforcement agents to engage in racial profiling. (13) Racial profiling harms individuals subjected to it because they experience fear, anxiety, humiliation, anger, resentment, and cynicism when they are unjustifiably treated as criminal suspects. By discouraging individuals from traveling freely, racial profiling impairs both interstate and intrastate commerce. (14) Racial profiling damages law enforcement and the criminal justice system as a whole by undermining public confidence and trust in the police, the courts, and the criminal law. (15) In the wake of the September 11, 2001, terrorist attacks, many Arabs, Muslims, Central and South Asians, and Sikhs, as well as other immigrants and Americans of foreign descent, were treated with generalized suspicion and subjected to searches and seizures based upon religion and national origin, without trustworthy information linking specific individuals to criminal conduct. Such profiling has failed to produce tangible benefits, yet has created a fear and mistrust of law enforcement agencies in these communities. (16) Racial profiling violates the equal protection clause of the Constitution. Using race, ethnicity, religion, or national origin as a proxy for criminal suspicion violates the constitutional requirement that police and other government officials accord to all citizens the equal protection of the law. Arlington Heights v. Metropolitan Housing Development Corporation, 429 U.S. 252 (1977). (17) Racial profiling is not adequately addressed through suppression motions in criminal cases for two reasons. First, the Supreme Court held, in Whren v. United States, 517 U.S. 806 (1996), that the racially discriminatory motive of a police officer in making an otherwise valid traffic stop does not warrant the suppression of evidence. Second, since most stops do not result in the discovery of contraband, there is no criminal prosecution and no evidence to suppress. (18) A comprehensive national solution is needed to address racial profiling at the Federal, State, and local levels. Federal support is needed to combat racial profiling through specialized training of law enforcement agents, improved management systems, and the acquisition of technology such as in-car video cameras.", "id": "H787F3FCA106D4A00B88BFEB28200DE61", "header": "Findings", "nested": [], "links": [] }, { "text": "(b) Purposes \nThe purposes of this Act are— (1) to enforce the constitutional right to equal protection of the laws, pursuant to the Fifth Amendment and section 5 of the 14th Amendment to the Constitution of the United States; (2) to enforce the constitutional right to protection against unreasonable searches and seizures, pursuant to the Fourth Amendment to the Constitution of the United States; (3) to enforce the constitutional right to interstate travel, pursuant to section 2 of article IV of the Constitution of the United States; and (4) to regulate interstate commerce, pursuant to clause 3 of section 8 of article I of the Constitution of the United States.", "id": "HA8B3981E86A14AB99901A90237E33F55", "header": "Purposes", "nested": [], "links": [] } ], "links": [] }, { "text": "101. Prohibition \nNo law enforcement agent or law enforcement agency shall engage in racial profiling.", "id": "HD75E8A8D01654B92ABF796F5479B590", "header": "Prohibition", "nested": [], "links": [] }, { "text": "102. Enforcement \n(a) Remedy \nThe United States, or an individual injured by racial profiling, may enforce this title in a civil action for declaratory or injunctive relief, filed either in a State court of general jurisdiction or in a district court of the United States. (b) Parties \nIn any action brought pursuant to this title, relief may be obtained against— (1) any governmental unit that employed any law enforcement agent who engaged in racial profiling; (2) any agent of such unit who engaged in racial profiling; and (3) any person with supervisory authority over such agent. (c) Nature of proof \nProof that the routine or spontaneous investigatory activities of law enforcement agents in a jurisdiction have had a disparate impact on racial, ethnic, or religious minorities shall constitute prima facie evidence of a violation of this title. (d) Attorney’s fees \nIn any action or proceeding to enforce this title against any governmental unit, the court may allow a prevailing plaintiff, other than the United States, reasonable attorney’s fees as part of the costs, and may include expert fees as part of the attorney’s fee.", "id": "H0301F8BAD1AE4753BFD8A2E31419F2F1", "header": "Enforcement", "nested": [ { "text": "(a) Remedy \nThe United States, or an individual injured by racial profiling, may enforce this title in a civil action for declaratory or injunctive relief, filed either in a State court of general jurisdiction or in a district court of the United States.", "id": "H7ACB5AC4B9624399921260A72243B2A7", "header": "Remedy", "nested": [], "links": [] }, { "text": "(b) Parties \nIn any action brought pursuant to this title, relief may be obtained against— (1) any governmental unit that employed any law enforcement agent who engaged in racial profiling; (2) any agent of such unit who engaged in racial profiling; and (3) any person with supervisory authority over such agent.", "id": "HB477F6E54B804C81ABE4F8D4E218D9D3", "header": "Parties", "nested": [], "links": [] }, { "text": "(c) Nature of proof \nProof that the routine or spontaneous investigatory activities of law enforcement agents in a jurisdiction have had a disparate impact on racial, ethnic, or religious minorities shall constitute prima facie evidence of a violation of this title.", "id": "H997316B71517433EA415D343F4930052", "header": "Nature of proof", "nested": [], "links": [] }, { "text": "(d) Attorney’s fees \nIn any action or proceeding to enforce this title against any governmental unit, the court may allow a prevailing plaintiff, other than the United States, reasonable attorney’s fees as part of the costs, and may include expert fees as part of the attorney’s fee.", "id": "H18C91FD2E6F442F4934584A468B2C2F4", "header": "Attorney’s fees", "nested": [], "links": [] } ], "links": [] }, { "text": "201. Policies to eliminate Racial profiling \n(a) In general \nFederal law enforcement agencies shall— (1) maintain adequate policies and procedures designed to eliminate racial profiling; and (2) cease existing practices that encourage racial profiling. (b) Policies \nThe policies and procedures described in subsection (a)(1) shall include— (1) a prohibition on racial profiling; (2) the collection of data on routine investigatory activities sufficient to determine if law enforcement agents are engaged in racial profiling and submission of that data to the Attorney General; (3) independent procedures for receiving, investigating, and responding meaningfully to complaints alleging racial profiling by law enforcement agents of the agency; (4) procedures to discipline law enforcement agents who engage in racial profiling; and (5) such other policies or procedures that the Attorney General deems necessary to eliminate racial profiling.", "id": "H9FEC303B618B436BB09DC230CF8FB030", "header": "Policies to eliminate Racial profiling", "nested": [ { "text": "(a) In general \nFederal law enforcement agencies shall— (1) maintain adequate policies and procedures designed to eliminate racial profiling; and (2) cease existing practices that encourage racial profiling.", "id": "H7DABC6BBEC3C4311A254C42965732F82", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Policies \nThe policies and procedures described in subsection (a)(1) shall include— (1) a prohibition on racial profiling; (2) the collection of data on routine investigatory activities sufficient to determine if law enforcement agents are engaged in racial profiling and submission of that data to the Attorney General; (3) independent procedures for receiving, investigating, and responding meaningfully to complaints alleging racial profiling by law enforcement agents of the agency; (4) procedures to discipline law enforcement agents who engage in racial profiling; and (5) such other policies or procedures that the Attorney General deems necessary to eliminate racial profiling.", "id": "HF066A8364C4A407598ECF12655BE6CBA", "header": "Policies", "nested": [], "links": [] } ], "links": [] }, { "text": "301. Policies required for grants \n(a) In general \nAn application by a State or governmental unit for funding under a covered program shall include a certification that such unit and any agency to which it is redistributing program funds— (1) maintains adequate policies and procedures designed to eliminate racial profiling; and (2) has ceased any existing practices that encourage racial profiling. (b) Policies \nThe policies and procedures described in subsection (a) shall include— (1) a prohibition on racial profiling; (2) the collection of data on routine investigatory activities sufficient to determine if law enforcement agents are engaged in racial profiling, and submission of that data to the Attorney General; (3) independent procedures for receiving, investigating, and responding meaningfully to complaints alleging racial profiling by law enforcement agents; (4) procedures to discipline law enforcement agents who engage in racial profiling; and (5) such other policies or procedures that the Attorney General deems necessary to eliminate racial profiling. (c) Noncompliance \nIf the Attorney General determines that a grantee is not in compliance with conditions established under this title, the Attorney General shall withhold the grant, in whole or in part, until the grantee establishes compliance. The Attorney General shall provide notice regarding State grants and opportunities for private parties to present evidence to the Attorney General that a grantee is not in compliance with conditions established under this title.", "id": "H4670965711CE4DB4A3B56CB4ED03FB7B", "header": "Policies required for grants", "nested": [ { "text": "(a) In general \nAn application by a State or governmental unit for funding under a covered program shall include a certification that such unit and any agency to which it is redistributing program funds— (1) maintains adequate policies and procedures designed to eliminate racial profiling; and (2) has ceased any existing practices that encourage racial profiling.", "id": "H477371B4C3AD4E37995E5CBEE766EF2", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Policies \nThe policies and procedures described in subsection (a) shall include— (1) a prohibition on racial profiling; (2) the collection of data on routine investigatory activities sufficient to determine if law enforcement agents are engaged in racial profiling, and submission of that data to the Attorney General; (3) independent procedures for receiving, investigating, and responding meaningfully to complaints alleging racial profiling by law enforcement agents; (4) procedures to discipline law enforcement agents who engage in racial profiling; and (5) such other policies or procedures that the Attorney General deems necessary to eliminate racial profiling.", "id": "HED34BDAFF2EE4F28B400DC8C05CBD486", "header": "Policies", "nested": [], "links": [] }, { "text": "(c) Noncompliance \nIf the Attorney General determines that a grantee is not in compliance with conditions established under this title, the Attorney General shall withhold the grant, in whole or in part, until the grantee establishes compliance. The Attorney General shall provide notice regarding State grants and opportunities for private parties to present evidence to the Attorney General that a grantee is not in compliance with conditions established under this title.", "id": "HD8CB4B19B7E04F09B4DE4F934D1E9F16", "header": "Noncompliance", "nested": [], "links": [] } ], "links": [] }, { "text": "302. Best practices development grants \n(a) Grant authorization \nThe Attorney General may make grants to States, law enforcement agencies and other governmental units, Indian tribal governments, or other public and private entities, to develop and implement best practice devices and systems to ensure the racially neutral administration of justice. (b) Uses \nThe funds provided pursuant to subsection (a) may be used to support— (1) development and implementation of training to prevent racial profiling and to encourage more respectful interaction with the public; (2) acquisition and use of technology to facilitate the collection of data regarding routine investigatory activities in order to determine if law enforcement agents are engaged in racial profiling; (3) acquisition and use of technology to verify the accuracy of data collection, including in-car video cameras and portable computer systems; (4) development and acquisition of early warning systems and other feedback systems that help identify officers or units of officers engaged in or at risk of racial profiling or other misconduct, including the technology to support such systems; (5) establishment or improvement of systems and procedures for receiving, investigating, and responding meaningfully to complaints alleging racial, ethnic, or religious bias by law enforcement agents; and (6) establishment or improvement of management systems to ensure that supervisors are held accountable for the conduct of their subordinates. (c) Equitable distribution \nThe Attorney General shall ensure that grants under this section are awarded in a manner that reserves an equitable share of funding for small and rural law enforcement agencies. (d) Authorization of appropriations \nThe Attorney General shall make available such sums as are necessary to carry out this section from amounts appropriated for programs administered by the Attorney General.", "id": "H35E464A522834FE2B0AD58AD9DB77BFC", "header": "Best practices development grants", "nested": [ { "text": "(a) Grant authorization \nThe Attorney General may make grants to States, law enforcement agencies and other governmental units, Indian tribal governments, or other public and private entities, to develop and implement best practice devices and systems to ensure the racially neutral administration of justice.", "id": "HDC5BB2874DC44BF48F70A66500CB5B63", "header": "Grant authorization", "nested": [], "links": [] }, { "text": "(b) Uses \nThe funds provided pursuant to subsection (a) may be used to support— (1) development and implementation of training to prevent racial profiling and to encourage more respectful interaction with the public; (2) acquisition and use of technology to facilitate the collection of data regarding routine investigatory activities in order to determine if law enforcement agents are engaged in racial profiling; (3) acquisition and use of technology to verify the accuracy of data collection, including in-car video cameras and portable computer systems; (4) development and acquisition of early warning systems and other feedback systems that help identify officers or units of officers engaged in or at risk of racial profiling or other misconduct, including the technology to support such systems; (5) establishment or improvement of systems and procedures for receiving, investigating, and responding meaningfully to complaints alleging racial, ethnic, or religious bias by law enforcement agents; and (6) establishment or improvement of management systems to ensure that supervisors are held accountable for the conduct of their subordinates.", "id": "H7869AF846E3542C4B19FE96F2F86B209", "header": "Uses", "nested": [], "links": [] }, { "text": "(c) Equitable distribution \nThe Attorney General shall ensure that grants under this section are awarded in a manner that reserves an equitable share of funding for small and rural law enforcement agencies.", "id": "H4275B4BCE37F48879288A000BE4BE426", "header": "Equitable distribution", "nested": [], "links": [] }, { "text": "(d) Authorization of appropriations \nThe Attorney General shall make available such sums as are necessary to carry out this section from amounts appropriated for programs administered by the Attorney General.", "id": "HA3611C9A992A40A9B63CDEAF9610F83", "header": "Authorization of appropriations", "nested": [], "links": [] } ], "links": [] }, { "text": "401. Attorney General to issue reports on Racial profiling in the United States \n(a) Reports \n(1) In general \nNot later than 2 years after the enactment of this Act, and each year thereafter, the Attorney General shall submit to Congress a report on racial profiling by Federal, State, and local law enforcement agencies in the United States. (2) Scope \nThe reports issued pursuant to paragraph (1) shall include— (A) a summary of data collected pursuant to sections 201(b)(2) and 301(b)(2) and any other reliable source of information regarding racial profiling in the United States; (B) the status of the adoption and implementation of policies and procedures by Federal law enforcement agencies pursuant to section 201; (C) the status of the adoption and implementation of policies and procedures by State and local law enforcement agencies pursuant to sections 301 and 302; and (D) a description of any other policies and procedures that the Attorney General believes would facilitate the elimination of racial profiling. (b) Data collection \nNot later than 6 months after the enactment of this Act, the Attorney General shall by regulation establish standards for the collection of data under sections 201(b)(2) and 301(b)(2), including standards for setting benchmarks against which collected data shall be measured. Such standards shall result in the collection of data, including data with respect to stops, searches, seizures, and arrests, that is sufficiently detailed to determine whether law enforcement agencies are engaged in racial profiling and to monitor the effectiveness of policies and procedures designed to eliminate racial profiling. (c) Public access \nData collected under sections 201(b)(2) and 301(b)(2) shall be available to the public.", "id": "H1696D707222A42FFB17F19AEB7082CA5", "header": "Attorney General to issue reports on Racial profiling in the United States", "nested": [ { "text": "(a) Reports \n(1) In general \nNot later than 2 years after the enactment of this Act, and each year thereafter, the Attorney General shall submit to Congress a report on racial profiling by Federal, State, and local law enforcement agencies in the United States. (2) Scope \nThe reports issued pursuant to paragraph (1) shall include— (A) a summary of data collected pursuant to sections 201(b)(2) and 301(b)(2) and any other reliable source of information regarding racial profiling in the United States; (B) the status of the adoption and implementation of policies and procedures by Federal law enforcement agencies pursuant to section 201; (C) the status of the adoption and implementation of policies and procedures by State and local law enforcement agencies pursuant to sections 301 and 302; and (D) a description of any other policies and procedures that the Attorney General believes would facilitate the elimination of racial profiling.", "id": "H82FD3869339A46E6BDEEBC946623050", "header": "Reports", "nested": [], "links": [] }, { "text": "(b) Data collection \nNot later than 6 months after the enactment of this Act, the Attorney General shall by regulation establish standards for the collection of data under sections 201(b)(2) and 301(b)(2), including standards for setting benchmarks against which collected data shall be measured. Such standards shall result in the collection of data, including data with respect to stops, searches, seizures, and arrests, that is sufficiently detailed to determine whether law enforcement agencies are engaged in racial profiling and to monitor the effectiveness of policies and procedures designed to eliminate racial profiling.", "id": "H16B9730374F642E8ACA0F3C266388F56", "header": "Data collection", "nested": [], "links": [] }, { "text": "(c) Public access \nData collected under sections 201(b)(2) and 301(b)(2) shall be available to the public.", "id": "HB6BE385E50BE4E77A570A36B1594B552", "header": "Public access", "nested": [], "links": [] } ], "links": [] }, { "text": "402. Limitation on use of data \nInformation released pursuant to section 401 shall not reveal the identity of any individual who is detained or any law enforcement officer involved in a detention.", "id": "H45B4BB38FB4E44F7A9C6BD5161FED871", "header": "Limitation on use of data", "nested": [], "links": [] }, { "text": "501. Definitions \nIn this Act: (1) Covered program \nThe term covered program means any program or activity funded in whole or in part with funds made available under— (A) the Edward Byrne Memorial State and Local Law Enforcement Assistance Programs (part E of title I of the Omnibus Crime Control and Safe Streets Act of 1968 ( 42 U.S.C. 3750 et seq. )); (B) the Cops on the Beat program under part Q of title I of the Omnibus Crime Control and Safe Streets Act of 1968 ( 42 U.S.C. 3796dd et seq. ), but not including any program, project, or other activity specified in section 1701(d)(8) of that Act ( 42 U.S.C. 3796dd(d)(8) ); and (C) the Local Law Enforcement Block Grant program of the Department of Justice, as described in appropriations Acts. (2) Governmental unit \nThe term governmental unit means any department, agency, special purpose district, or other instrumentality of Federal, State, local, or Indian tribal government. (3) Law enforcement agency \nThe term law enforcement agency means a Federal, State, local, or Indian tribal public agency engaged in the prevention, detection, or investigation of violations of criminal, immigration, or customs laws. (4) Law enforcement agent \nThe term law enforcement agent means any Federal, State, local, or Indian tribal official responsible for enforcing criminal, immigration, or customs laws, including police officers and other agents of Federal, State, and local law enforcement agencies. (5) Racial profiling \nThe term racial profiling means the practice of a law enforcement agent relying, to any degree, on race, ethnicity, religion, or national origin in selecting which individuals to subject to routine or spontaneous investigatory activities, or in deciding upon the scope and substance of law enforcement activity following the initial investigatory procedure, except when there is trustworthy information, relevant to the locality and timeframe, that links persons of a particular race, ethnicity, religion, or national origin to an identified criminal incident or scheme. (6) Routine or spontaneous investigatory activities \nThe term routine or spontaneous investigatory activities means the following activities by law enforcement agents: interviews; traffic stops; pedestrian stops; frisks and other types of body searches; consensual or nonconsensual searches of the persons or possessions (including vehicles) of motorists or pedestrians; inspections and interviews of entrants into the United States that are more extensive than those customarily carried out; immigration related workplace investigations; and such other types of law enforcement encounters compiled by the FBI and the Justice Department’s Bureau of Justice Statistics.", "id": "HFC4ACD507BDA486CA3ECC05EAD55DDAA", "header": "Definitions", "nested": [], "links": [ { "text": "42 U.S.C. 3750 et seq.", "legal-doc": "usc", "parsable-cite": "usc/42/3750" }, { "text": "42 U.S.C. 3796dd et seq.", "legal-doc": "usc", "parsable-cite": "usc/42/3796dd" }, { "text": "42 U.S.C. 3796dd(d)(8)", "legal-doc": "usc", "parsable-cite": "usc/42/3796dd" } ] }, { "text": "502. Severability \nIf any provision of this Act or the application of such provision to any person or circumstance is held to be unconstitutional, the remainder of this Act and the application of the provisions of such to any person or circumstance shall not be affected thereby.", "id": "H20EDE5110D9440AF94E95DC6F001736", "header": "Severability", "nested": [], "links": [] }, { "text": "503. Savings clause \nNothing in this Act shall be construed to limit legal or administrative remedies under section 1979 of the Revised Statutes of the United States ( 42 U.S.C. 1983 ), section 210401 of the Violent Crime Control and Law Enforcement Act of 1994 ( 42 U.S.C. 14141 ), the Omnibus Crime Control and Safe Streets Act of 1968 ( 42 U.S.C. 3701 et seq. ), and title VI of the Civil Rights Act of 1964 ( 42 U.S.C. 2000d et seq. ).", "id": "HEE90077D2375457093B9639F298C1F39", "header": "Savings clause", "nested": [], "links": [ { "text": "42 U.S.C. 1983", "legal-doc": "usc", "parsable-cite": "usc/42/1983" }, { "text": "42 U.S.C. 14141", "legal-doc": "usc", "parsable-cite": "usc/42/14141" }, { "text": "42 U.S.C. 3701 et seq.", "legal-doc": "usc", "parsable-cite": "usc/42/3701" }, { "text": "42 U.S.C. 2000d et seq.", "legal-doc": "usc", "parsable-cite": "usc/42/2000d" } ] } ]

[ "Alien labor", "Arrest", "Block grants", "Civil Rights and Liberties, Minority Issues", "Civil actions and liability", "Civil rights enforcement", "Community policing", "Computers", "Congress", "Congressional reporting requirements", "Criminal investigation", "Criminal statistics", "Disciplining of employees", "Discrimination in criminal justice administration", "Economics and Public Finance", "Ethnic groups", "Evidence (Law)", "Expert witnesses", "Federal aid to law enforcement", "Freedom of information", "Government Operations and Politics", "Government paperwork", "Government vehicles", "Governmental investigations", "Immigration", "Indian law enforcement", "Injunctions", "Judicial opinions", "Labor and Employment", "Law", "Law enforcement officers", "Legal fees", "Minorities", "Pedestrians", "Police", "Police-community relations", "Prejudice", "Racial discrimination", "Religion", "Religious liberty", "Science, Technology, Communications", "Searches and seizures", "Traffic accidents and safety", "Transportation and Public Works", "Video tape recording" ]

[ { "text": "1. Short title \nThis Act may be cited as the.", "id": "H8DBEB2C508F44FF08E7F6BA841721600", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Findings \nCongress finds that— (1) there are many sites honoring Presidents located throughout the United States, including Presidential birthplaces, homes, museums, burial sites, and tombs; (2) most of the sites are owned, operated, and maintained by non-Federal entities such as State and local agencies, family foundations, colleges and universities, libraries, historical societies, historic preservation organizations, and other nonprofit organizations; (3) Presidential sites are often expensive to maintain; (4) many Presidential sites are in need of capital, technological, and interpretive display improvements for which funding is insufficient or unavailable; and (5) to promote understanding of the history of the United States by recognizing and preserving historic sites linked to Presidents of the United States, the Federal Government should provide grants for the maintenance and improvement of Presidential sites.", "id": "H6BDBF20182DB43848144F032E7928189", "header": "Findings", "nested": [], "links": [] }, { "text": "3. Definitions \nIn this Act: (1) Grant Commission \nThe term Grant Commission means the Presidential Site Grant Commission established by section 4(d). (2) Presidential site \nThe term Presidential site means a site related to a President of the United States that has national significance and is— (A) managed, maintained, and operated for, and is accessible to, the public; and (B) owned or operated by— (i) a State; or (ii) a private institution, organization, or person. (3) Secretary \nThe term Secretary means the Secretary of the Interior, acting through the Director of the National Park Service.", "id": "H4250A985C24342F7A0008E7D2595F3B5", "header": "Definitions", "nested": [], "links": [] }, { "text": "4. Grants for Presidential sites \n(a) In general \nThe Secretary shall award grants for major maintenance and improvement projects at Presidential sites to owners or operators of Presidential sites in accordance with this section. (b) Use of grant funds \n(1) In general \nA grant awarded under this section may be used for— (A) repairs or capital improvements at a Presidential site (including new construction for necessary modernization) such as— (i) installation or repair of heating or air conditioning systems, security systems, or electric service; or (ii) modifications at a Presidential site to achieve compliance with requirements under titles II and III of the Americans with Disabilities Act of 1990 ( 42 U.S.C. 12131 et seq. ); and (B) interpretive improvements to enhance public understanding and enjoyment of a Presidential site. (2) Allocation of funds \n(A) In general \nOf the funds made available to award grants under this Act— (i) 15 percent shall be used for emergency projects, as determined by the Secretary; (ii) 65 percent shall be used for grants for Presidential sites with— (I) a 3-year average annual operating budget of less than $700,000 (not including the amount of any grant received under this section); and (II) an endowment in an amount that is less than 3 times the annual operating budget of the site; and (iii) 20 percent shall be used for grants for Presidential sites with— (I) an annual operating budget of $700,000 or more (not including the amount of any grant received under this section); and (II) an endowment in an amount that is equal to or more than 3 times the annual operating budget of the site. (B) Unexpended funds \nIf any funds allocated for a category of projects described in subparagraph (A) are unexpended, the Secretary may use the funds to award grants for another category of projects described in that subparagraph. (c) Application and award procedure \n(1) In general \nNot later than a date to be determined by the Secretary, an owner or operator of a Presidential site may submit to the Secretary an application for a grant under this section. (2) Involvement of Grant Commission \n(A) In general \nThe Secretary shall forward each application received under paragraph (1) to the Grant Commission. (B) Consideration by Grant Commission \nNot later than 60 days after receiving an application from the Secretary under subparagraph (A), the Grant Commission shall return the application to the Secretary with a recommendation of whether the proposed project should be awarded a Presidential site grant. (C) Recommendation of Grant Commission \nIn making a decision to award a Presidential site grant under this section, the Secretary shall take into consideration any recommendation of the Grant Commission. (3) Award \nNot later than 180 days after receiving an application for a Presidential site grant under paragraph (1), the Secretary shall— (A) award a Presidential site grant to the applicant; or (B) notify the applicant, in writing, of the decision of the Secretary not to award a Presidential site grant. (4) Matching requirements \n(A) In general \nThe Federal share of the cost of a project at a Presidential site for which a grant is awarded under this section shall not exceed 50 percent. (B) Non-federal share \nThe non-Federal share of the cost of a project at a Presidential site for which a grant is awarded under this section may be provided in cash or in kind. (d) Presidential Site Grant Commission \n(1) In general \nThere is established the Presidential Site Grant Commission. (2) Composition \nThe Grant Commission shall be composed of— (A) the Director of the National Park Service; and (B) 4 members appointed by the Secretary as follows: (i) A State historic preservation officer. (ii) A representative of the National Trust for Historic Preservation. (iii) A representative of a site described in subsection (b)(2)(A)(ii). (iv) A representative of a site described in subsection (b)(2)(A)(iii). (3) Term \nA member of the Grant Commission shall serve a term of 2 years. (4) Duties \nThe Grant Commission shall— (A) review applications for Presidential site grants received under subsection (c); and (B) recommend to the Secretary projects for which Presidential site grants should be awarded. (5) Ineligibility of sites during term of representative \nA site described in clause (iii) or (iv) of paragraph (2)(B) shall be ineligible for a grant under this Act during the 2-year period in which a representative of the site serves on the Grant Commission. (6) Nonapplicability of faca \nThe Grant Commission shall not be subject to the Federal Advisory Committee Act (5 U.S.C. App.). (e) Authorization of appropriations \nThere is authorized to be appropriated to carry out this Act $5,000,000 for each of fiscal years 2004 through 2008, to remain available until expended.", "id": "HDE49D14E125940F5A202A7E73BC1E4D5", "header": "Grants for Presidential sites", "nested": [ { "text": "(a) In general \nThe Secretary shall award grants for major maintenance and improvement projects at Presidential sites to owners or operators of Presidential sites in accordance with this section.", "id": "H76D72A1E6CBE42A091212DFADD57F0B8", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Use of grant funds \n(1) In general \nA grant awarded under this section may be used for— (A) repairs or capital improvements at a Presidential site (including new construction for necessary modernization) such as— (i) installation or repair of heating or air conditioning systems, security systems, or electric service; or (ii) modifications at a Presidential site to achieve compliance with requirements under titles II and III of the Americans with Disabilities Act of 1990 ( 42 U.S.C. 12131 et seq. ); and (B) interpretive improvements to enhance public understanding and enjoyment of a Presidential site. (2) Allocation of funds \n(A) In general \nOf the funds made available to award grants under this Act— (i) 15 percent shall be used for emergency projects, as determined by the Secretary; (ii) 65 percent shall be used for grants for Presidential sites with— (I) a 3-year average annual operating budget of less than $700,000 (not including the amount of any grant received under this section); and (II) an endowment in an amount that is less than 3 times the annual operating budget of the site; and (iii) 20 percent shall be used for grants for Presidential sites with— (I) an annual operating budget of $700,000 or more (not including the amount of any grant received under this section); and (II) an endowment in an amount that is equal to or more than 3 times the annual operating budget of the site. (B) Unexpended funds \nIf any funds allocated for a category of projects described in subparagraph (A) are unexpended, the Secretary may use the funds to award grants for another category of projects described in that subparagraph.", "id": "H8154ADFEAD964EDF95BEF8B53D3CF9B", "header": "Use of grant funds", "nested": [], "links": [ { "text": "42 U.S.C. 12131 et seq.", "legal-doc": "usc", "parsable-cite": "usc/42/12131" } ] }, { "text": "(c) Application and award procedure \n(1) In general \nNot later than a date to be determined by the Secretary, an owner or operator of a Presidential site may submit to the Secretary an application for a grant under this section. (2) Involvement of Grant Commission \n(A) In general \nThe Secretary shall forward each application received under paragraph (1) to the Grant Commission. (B) Consideration by Grant Commission \nNot later than 60 days after receiving an application from the Secretary under subparagraph (A), the Grant Commission shall return the application to the Secretary with a recommendation of whether the proposed project should be awarded a Presidential site grant. (C) Recommendation of Grant Commission \nIn making a decision to award a Presidential site grant under this section, the Secretary shall take into consideration any recommendation of the Grant Commission. (3) Award \nNot later than 180 days after receiving an application for a Presidential site grant under paragraph (1), the Secretary shall— (A) award a Presidential site grant to the applicant; or (B) notify the applicant, in writing, of the decision of the Secretary not to award a Presidential site grant. (4) Matching requirements \n(A) In general \nThe Federal share of the cost of a project at a Presidential site for which a grant is awarded under this section shall not exceed 50 percent. (B) Non-federal share \nThe non-Federal share of the cost of a project at a Presidential site for which a grant is awarded under this section may be provided in cash or in kind.", "id": "H32DC93E544A64633A251C36C50D6A7EB", "header": "Application and award procedure", "nested": [], "links": [] }, { "text": "(d) Presidential Site Grant Commission \n(1) In general \nThere is established the Presidential Site Grant Commission. (2) Composition \nThe Grant Commission shall be composed of— (A) the Director of the National Park Service; and (B) 4 members appointed by the Secretary as follows: (i) A State historic preservation officer. (ii) A representative of the National Trust for Historic Preservation. (iii) A representative of a site described in subsection (b)(2)(A)(ii). (iv) A representative of a site described in subsection (b)(2)(A)(iii). (3) Term \nA member of the Grant Commission shall serve a term of 2 years. (4) Duties \nThe Grant Commission shall— (A) review applications for Presidential site grants received under subsection (c); and (B) recommend to the Secretary projects for which Presidential site grants should be awarded. (5) Ineligibility of sites during term of representative \nA site described in clause (iii) or (iv) of paragraph (2)(B) shall be ineligible for a grant under this Act during the 2-year period in which a representative of the site serves on the Grant Commission. (6) Nonapplicability of faca \nThe Grant Commission shall not be subject to the Federal Advisory Committee Act (5 U.S.C. App.).", "id": "HF53D5B734C1F4CD4A8227BB008D71B9", "header": "Presidential Site Grant Commission", "nested": [], "links": [] }, { "text": "(e) Authorization of appropriations \nThere is authorized to be appropriated to carry out this Act $5,000,000 for each of fiscal years 2004 through 2008, to remain available until expended.", "id": "HC96ED11CF0214CCB8E97091045008933", "header": "Authorization of appropriations", "nested": [], "links": [] } ], "links": [ { "text": "42 U.S.C. 12131 et seq.", "legal-doc": "usc", "parsable-cite": "usc/42/12131" } ] } ]

[ "Architecture and the disabled", "Building construction", "Commemorations", "Construction costs", "Disabled", "Economics and Public Finance", "Federal advisory bodies", "Grants-in-aid", "Historic sites", "History", "Maintenance and repair", "Presidential residences", "Public Lands and Natural Resources" ]

[ { "text": "1. Short title \nThis Act may be cited as the Safe Drinking Water for Healthy Communities Act of 2004.", "id": "H69E26EE4CB1D45E097A55884F0E2EEE8", "header": "Short title", "nested": [], "links": [] }, { "text": "2. National primary drinking water regulation for perchlorate \nSection 1412(b)(12) of the Safe Drinking Water Act ( 42 U.S.C. 300g–1(b)(12) ) is amended by adding at the end the following: (C) Perchlorate \n(i) Schedule and standard \nNotwithstanding the deadlines set forth in paragraph (1), the Administrator shall promulgate a national primary drinking water regulation for perchlorate pursuant to this subsection, in accordance with the schedule established by this subparagraph. (ii) Proposed regulations \nNot later than January 31, 2006, the Administrator shall propose a national primary drinking water regulation for percholate. (iii) Final regulations \nNot later than July 31, 2007, after notice and opportunity for public comment, the Administrator shall promulgate a national primary drinking water regulation for perchlorate..", "id": "H9697EDC9B81246FC875680F3E45585E", "header": "National primary drinking water regulation for perchlorate", "nested": [], "links": [ { "text": "42 U.S.C. 300g–1(b)(12)", "legal-doc": "usc", "parsable-cite": "usc/42/300g-1" } ] } ]

[ "Administrative procedure", "Chemicals", "Environmental Protection Agency", "Government Operations and Politics", "Law", "Potable water", "Standards", "Water Resources Development", "Water pollution control" ]

[ { "text": "1. Compensation of Certain Losses for the Heirs of Henry D. Espy of St. Louis, Missouri \n(a) Definition \nIn this section, the term heirs of Henry D. Espy means Mary Espy, Mary Espy Rhodes Hoover, Frances Espy Rankin, Jeannette Espy Burton, Mark Espy, Damon Espy, Jamisette Espy, Ashley Espy, Luke Espy, Reuben Gresham, Melanie Espy, Jasmine Espy, Jake Espy, Jeanne Hoover, Robert Hoover, Harold Logan, Andrew Logan, Minda Logan, Andrew Logan II, Gabrielle Logan, Justin Logan, and Randall Rhodes Logan. (b) Payment \nThe Secretary of the Treasury shall pay, using funds in the Treasury not otherwise appropriated, to the heirs of Henry D. Espy of St. Louis, Missouri, as their interests may appear, an amount equal to the difference between— (1) the fair market value of land owned by Henry D. Espy located in Gifford, Indian River County, Florida, that was taken by the United States in an eminent domain proceeding in 1942, as determined by an appraisal satisfactory to the Secretary and the heirs of Henry D. Espy; and (2) sums already paid by the United States to Henry D. Espy in connection with such taking. (c) Settlement \nThe payment under subsection (b) shall be in full settlement of all claims of the heirs of Henry D. Espy arising from the 1942 taking referred to in such subsection. (d) No Inference of Liability \nNothing in this section shall be construed as an inference of liability on the part of the United States. (e) Limitation on Agents’ and Attorneys’ Fees \nAny contract to the contrary notwithstanding, no more than ten percent of the payment required by subsection (b) may be paid to or received by any agent or attorney for services rendered in connection with obtaining such payment. Any person who violates this subsection shall be guilty of a misdemeanor and shall be subject to a fine in the amount provided in title 18, United States Code.", "id": "H408D1D544F754E5F89AD9600DDF723F6", "header": "Compensation of Certain Losses for the Heirs of Henry D. Espy of St. Louis, Missouri", "nested": [ { "text": "(a) Definition \nIn this section, the term heirs of Henry D. Espy means Mary Espy, Mary Espy Rhodes Hoover, Frances Espy Rankin, Jeannette Espy Burton, Mark Espy, Damon Espy, Jamisette Espy, Ashley Espy, Luke Espy, Reuben Gresham, Melanie Espy, Jasmine Espy, Jake Espy, Jeanne Hoover, Robert Hoover, Harold Logan, Andrew Logan, Minda Logan, Andrew Logan II, Gabrielle Logan, Justin Logan, and Randall Rhodes Logan.", "id": "H684093BB08B24F55941C4EA3924F9E5F", "header": "Definition", "nested": [], "links": [] }, { "text": "(b) Payment \nThe Secretary of the Treasury shall pay, using funds in the Treasury not otherwise appropriated, to the heirs of Henry D. Espy of St. Louis, Missouri, as their interests may appear, an amount equal to the difference between— (1) the fair market value of land owned by Henry D. Espy located in Gifford, Indian River County, Florida, that was taken by the United States in an eminent domain proceeding in 1942, as determined by an appraisal satisfactory to the Secretary and the heirs of Henry D. Espy; and (2) sums already paid by the United States to Henry D. Espy in connection with such taking.", "id": "HB4BC3834D7B44D06A1A300FE2372C96D", "header": "Payment", "nested": [], "links": [] }, { "text": "(c) Settlement \nThe payment under subsection (b) shall be in full settlement of all claims of the heirs of Henry D. Espy arising from the 1942 taking referred to in such subsection.", "id": "H433662A5FB8F4E139654C5249FED4F7F", "header": "Settlement", "nested": [], "links": [] }, { "text": "(d) No Inference of Liability \nNothing in this section shall be construed as an inference of liability on the part of the United States.", "id": "H2B1654515109418982E198FFCB2F3900", "header": "No Inference of Liability", "nested": [], "links": [] }, { "text": "(e) Limitation on Agents’ and Attorneys’ Fees \nAny contract to the contrary notwithstanding, no more than ten percent of the payment required by subsection (b) may be paid to or received by any agent or attorney for services rendered in connection with obtaining such payment. Any person who violates this subsection shall be guilty of a misdemeanor and shall be subject to a fine in the amount provided in title 18, United States Code.", "id": "H20C3D834166041E6B7469807135771F5", "header": "Limitation on Agents’ and Attorneys’ Fees", "nested": [], "links": [] } ], "links": [] } ]

[ "Claims", "Real property" ]

[ { "text": "1. Short title \nThis Act may be cited as the Deep Sea Coral Protection Act.", "id": "HB8BF079D654F46D99700F4F800FD3845", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Findings \nThe Congress finds the following: (1) Ecosystem-based management of our marine environment has been recommended by numerous reports and advisory bodies, including the Pew Oceans Commission and the United States Commission on Ocean Policy. On the subject of corals, including deep sea corals, both commission reports recommended both the continued study and protection of coral ecosystems. (2) Complex seafloor habitats created by structure-forming organisms including deep sea corals and sponges are essential to numerous fish species, including commercially and recreationally targeted species, which rely on such complex habitats for spawning, food, and shelter from predation. For example, more than 1,300 species live among lophelia coral reefs in the Northeastern Atlantic Ocean. (3) Deep sea corals typically exhibit slow growth, extreme longevity, and highly patchy distribution predominately along continental margins, seamounts, undersea canyons, and ridges. (4) Living organisms, such as deep sea corals and sponges, that create complex habitat have not been adequately studied for the potential benefit to society or for the ecological importance that such organisms provide to fish species and other forms of marine life. (5) Some deep sea corals have a growth ring structure that provides a living record of changes in water temperature and other information that can be used to track global climate change over time. (6) Deep sea corals are a future source of new biomedical compounds for the pharmaceutical and biotechnical industries. (7) The exceptional diversity, uniqueness, and vulnerability of deep sea corals necessitates that the mapping and conservation of such species be given a high priority. (8) There is national and international recognition of the importance of deep sea coral habitats. The European Union, Australia, New Zealand, Canada, and Norway have prohibited the use of fishing gear that employs mobile bottom-tending fishing gear in some areas where deep sea corals exist. Further, several of the Councils have taken action to protect the fragile habitat of deep sea corals. (9) Deep sea coral habitats are subject to growing human pressures, particularly as a result of the rapid spread of deep sea mobile bottom-tending fisheries into new regions and new grounds, aided by the development of navigational, fish-finding, and other technologies. (10) The National Research Council found that 95 percent of the damage to deep sea corals is caused by bottom trawls. In the National Research Council 2002 report to the Congress on the effects of trawling and dredging on seafloor habitats, the National Research Council stated that we currently have enough information about the destruction of structured habitats caused by bottom trawling/dredging and recommend for their immediate protection through the use of no bottom trawl/dredge zones.", "id": "H4102ECF4A2594A63A151417969D4DFB0", "header": "Findings", "nested": [], "links": [] }, { "text": "3. Policy \nIt is the policy of the United States to employ preventative and precautionary strategies to protect deep sea corals and sponges, including the protection of such organisms as are found in the continental margins, canyons, seamounts, and ridges of the world’s oceans, and the habitats of such organisms from damage from gear and equipment used in commercial fishing, particularly mobile bottom-tending gear.", "id": "HD7097B05A1D34731996B3D27D7AEDB4", "header": "Policy", "nested": [], "links": [] }, { "text": "4. Definitions \nIn this Act: (1) Coral Management Area \nThe term Coral Management Area means an area designated as a Coral Management Area under section 9. (2) Coral Study Area \nThe term Coral Study Area means an area designated as a Coral Study Area under section 8. (3) Council \nThe term Council means any regional fishery management council established by section 302 of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1852 ). (4) Deep sea coral and sponge ecosystem \nThe term deep sea coral and sponge ecosystem means a community of living deep sea coral or sponge species, the benthic and non-benthic species associated with them, and the living and nonliving physical and chemical components that constitute habitat for corals and sponges. (5) Deep sea corals \nThe term deep sea corals means all species of the phylum Cnidaria in the orders Antipatharia (black corals), Scleractinia (stony corals), Gorgonacea (horny corals), Alcyonacea (soft corals), and Pennatulacea (sea pens) of the class Anthozoa, and in the order Hydrocorallina (hydrocorals) of the class Hydrozoa, that occur at a depth of 50 meters or more and do not contain symbiotic algae. (6) Deep sea sponge \nThe term deep sea sponge means any species of the phylum Porifera that occur at a depth of 50 meters or more. (7) Exclusive Economic Zone \nThe term exclusive economic zone has the meaning given that term in section 3 of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1802 ). (8) Mobile bottom-tending fishing gear \nThe term mobile bottom-tending fishing gear means any trawl or dredge fishing gear that contacts the seafloor while in use, including pelagic fishing gear that contacts the seafloor while in use, otter trawls, and scallop dredges. (9) Secretary \nThe term Secretary means the Secretary of Commerce.", "id": "HEE4D29F43ECD4D9ABA529CC965C5D887", "header": "Definitions", "nested": [], "links": [ { "text": "16 U.S.C. 1852", "legal-doc": "usc", "parsable-cite": "usc/16/1852" }, { "text": "16 U.S.C. 1802", "legal-doc": "usc", "parsable-cite": "usc/16/1802" } ] }, { "text": "5. Mapping and research \n(a) Requirement for mapping and research \nThe Secretary shall direct the Under Secretary of Commerce for Oceans and Atmosphere to carry out a comprehensive program to explore, research, identify, and map deep sea corals and sponges, that— (1) includes an annual research strategy that compares areas open to mobile bottom-tending gear with areas designated as Coral Management Areas; and (2) prioritizes Coral Study Areas for evaluation to determine whether— (A) their designation as such areas should be terminated; and (B) they should be designated as Coral Management Areas. (b) Description of mapping and research \nThe comprehensive program carried out under subsection (a) shall include— (1) creating maps of the locations of deep sea coral and sponge ecosystems; and (2) conducting research related to deep sea corals and sponges and the habitats of deep sea corals and sponges, including— (A) the natural history of such species; (B) taxonomic classification of such species; (C) ecological role of such species; and (D) the benefits of such species and habitats.", "id": "H5F04EF9EF3B243B08445DF5200A713A", "header": "Mapping and research", "nested": [ { "text": "(a) Requirement for mapping and research \nThe Secretary shall direct the Under Secretary of Commerce for Oceans and Atmosphere to carry out a comprehensive program to explore, research, identify, and map deep sea corals and sponges, that— (1) includes an annual research strategy that compares areas open to mobile bottom-tending gear with areas designated as Coral Management Areas; and (2) prioritizes Coral Study Areas for evaluation to determine whether— (A) their designation as such areas should be terminated; and (B) they should be designated as Coral Management Areas.", "id": "H6F1F2BF8705540919057752B91BE4100", "header": "Requirement for mapping and research", "nested": [], "links": [] }, { "text": "(b) Description of mapping and research \nThe comprehensive program carried out under subsection (a) shall include— (1) creating maps of the locations of deep sea coral and sponge ecosystems; and (2) conducting research related to deep sea corals and sponges and the habitats of deep sea corals and sponges, including— (A) the natural history of such species; (B) taxonomic classification of such species; (C) ecological role of such species; and (D) the benefits of such species and habitats.", "id": "H3734048FFBCC48E78043AD533DE03CC6", "header": "Description of mapping and research", "nested": [], "links": [] } ], "links": [] }, { "text": "6. Data review and recommendations \n(a) Requirement for review \nAt least once every 2 calendar years, the Secretary shall appoint an advisory panel from a list of names recommended by the Chair of the National Research Council to review all available data related to deep sea corals and deep sea sponges. Such data shall include— (1) data related to the analysis of bycatch carried out under section 8(a); (2) data related to the research carried out under section 5; and (3) data obtained from any Federal agency under subsection (b). (b) Data from Federal entities \nThe head of any Federal agency that holds information related to the ocean floor, specifically including information related to the habitat of deep sea corals and deep sea sponges, shall, upon request, furnish such information to the Secretary who shall make it available to the Advisory Panel. (c) Recommendations \n(1) In general \nNot later than 30 days after completing the annual review required by subsection (a), the advisory panel shall submit to the Secretary a recommendation that— (A) each area identified as a deep sea coral and sponge ecosystem in such annual review be designated as a Coral Management Area; and (B) any area containing a potential or actual deep sea coral and sponge ecosystem for which additional research is needed be designated as a Coral Study Area. (2) Publication \nThe Secretary shall publish in the Federal Register a notice of availability of each recommendation submitted to the Secretary under paragraph (1).", "id": "HD922D03906784DFEAF5CA25E148F008C", "header": "Data review and recommendations", "nested": [ { "text": "(a) Requirement for review \nAt least once every 2 calendar years, the Secretary shall appoint an advisory panel from a list of names recommended by the Chair of the National Research Council to review all available data related to deep sea corals and deep sea sponges. Such data shall include— (1) data related to the analysis of bycatch carried out under section 8(a); (2) data related to the research carried out under section 5; and (3) data obtained from any Federal agency under subsection (b).", "id": "HB8A9826B2E6A469BB42627E0FDBF08B", "header": "Requirement for review", "nested": [], "links": [] }, { "text": "(b) Data from Federal entities \nThe head of any Federal agency that holds information related to the ocean floor, specifically including information related to the habitat of deep sea corals and deep sea sponges, shall, upon request, furnish such information to the Secretary who shall make it available to the Advisory Panel.", "id": "H4FC8FFAB0296473AAAE96203E1A13DF8", "header": "Data from Federal entities", "nested": [], "links": [] }, { "text": "(c) Recommendations \n(1) In general \nNot later than 30 days after completing the annual review required by subsection (a), the advisory panel shall submit to the Secretary a recommendation that— (A) each area identified as a deep sea coral and sponge ecosystem in such annual review be designated as a Coral Management Area; and (B) any area containing a potential or actual deep sea coral and sponge ecosystem for which additional research is needed be designated as a Coral Study Area. (2) Publication \nThe Secretary shall publish in the Federal Register a notice of availability of each recommendation submitted to the Secretary under paragraph (1).", "id": "HAA1181A84FDF4175BE9855F969978343", "header": "Recommendations", "nested": [], "links": [] } ], "links": [] }, { "text": "7. Prohibition on use of mobile bottom-tending fishing gear in Coral Study Areas and Coral Management Areas \n(a) Closure upon designation \nThe use of all mobile bottom-tending fishing gears is prohibited in any area designated as a Coral Study Area or a Coral Management Area. (b) Other measures not restricted \nNothing in this Act shall restrict the ability of the Secretary of Commerce, acting on his or her own or with the advice of the appropriate Council, to promulgate stronger fishery or habitat protection measures, as authorized under other laws, within a Coral Study Area or Coral Management Area. (c) Savings clause \nAll rules and regulations issued by the Secretary under the Magnuson-Stevens Fishery Management and Conservation Act pertaining to coral conservation, management, or protection shall continue to apply after the date of enactment of this Act until modified or rescinded by the Secretary pursuant to the requirements of this Act.", "id": "H1D062ED341C149619DBB70BBF77D0541", "header": "Prohibition on use of mobile bottom-tending fishing gear in Coral Study Areas and Coral Management Areas", "nested": [ { "text": "(a) Closure upon designation \nThe use of all mobile bottom-tending fishing gears is prohibited in any area designated as a Coral Study Area or a Coral Management Area.", "id": "HD7572D40CF564E3B88CD6CDA2303AF32", "header": "Closure upon designation", "nested": [], "links": [] }, { "text": "(b) Other measures not restricted \nNothing in this Act shall restrict the ability of the Secretary of Commerce, acting on his or her own or with the advice of the appropriate Council, to promulgate stronger fishery or habitat protection measures, as authorized under other laws, within a Coral Study Area or Coral Management Area.", "id": "H8E92C867EF16449B8E2677196CBC3F21", "header": "Other measures not restricted", "nested": [], "links": [] }, { "text": "(c) Savings clause \nAll rules and regulations issued by the Secretary under the Magnuson-Stevens Fishery Management and Conservation Act pertaining to coral conservation, management, or protection shall continue to apply after the date of enactment of this Act until modified or rescinded by the Secretary pursuant to the requirements of this Act.", "id": "HF2CCE7486CBA4E089CCE34F195CA10F7", "header": "Savings clause", "nested": [], "links": [] } ], "links": [] }, { "text": "8. Coral Study Areas \n(a) Study areas identified through fishing records \nThe Secretary shall designate as a Coral Study Area any area that is located within the exclusive economic zone for which— (1) records of commercial fishing trips maintained by the National Marine Fisheries Service demonstrate that the area has not been fished using mobile bottom-tending gear during the 3-year period ending prior to the enactment of this Act and for which records are available; or (2) there are no reliable records maintained by the National Marine Fisheries Service regarding such fishing, and that the Secretary determines is beyond the reasonable depth limits of mobile bottom-tending fishing gear currently in use. (b) Study areas identified through bycatch records, research, or mapping \nThe Secretary shall review on a continuing basis bycatch records, research, mapping, and survey data obtained from areas of the Exclusive Economic Zone open to fishing with commercial mobile bottom-tending gear to determine if these data indicate the actual or potential presence of a deep sea coral and sponge ecosystem. If the Secretary determines that the data indicate the actual or potential presence of a deep sea coral and sponge ecosystem, the Secretary shall designate the area as a Coral Study Area. The designation shall expire upon decision by the Secretary to terminate the designation pursuant to subsection (d) of this section. (c) Study areas recommended by the Advisory Panel \n(1) Proposed rule \nNot later than 30 days after receiving a recommendation pursuant to section 6(c)(1)(B), the Secretary shall publish in the Federal Register a proposed rule to designate any recommended area as a Coral Study Area. (2) Comment period \nThe Secretary shall accept comments on any proposed rule published under paragraph (1) for 60 days after the date of the publication of such proposed rule. (3) Final determination \nNot later than 120 days after the publication of such proposed rule, the Secretary shall designate the area recommended under section 6(c)(1)(B) as a Coral Study Area unless the Secretary finds no rational basis for the recommendation. (d) Termination of study area designation \nThe Secretary, sua sponte or upon recommendation of the Council having advisory duties for the fisheries of the area, may determine that an area or part of an area that is designated as a Coral Study Area pursuant to subsections (a), (b), or (c) shall no longer be designated as a Coral Study Area, if the area is— (1) designated as a Coral Management Area pursuant to section 9; or (2) does not warrant designation as a Coral Management Area pursuant to the criteria in subsection 9(b) and is reopened to mobile bottom-tending fishing gears, unless the use of mobile bottom-tending fishing gear in such area is prohibited by any other provision of law.", "id": "HAE9D9A52EBF549DAB450BB2F13C6F861", "header": "Coral Study Areas", "nested": [ { "text": "(a) Study areas identified through fishing records \nThe Secretary shall designate as a Coral Study Area any area that is located within the exclusive economic zone for which— (1) records of commercial fishing trips maintained by the National Marine Fisheries Service demonstrate that the area has not been fished using mobile bottom-tending gear during the 3-year period ending prior to the enactment of this Act and for which records are available; or (2) there are no reliable records maintained by the National Marine Fisheries Service regarding such fishing, and that the Secretary determines is beyond the reasonable depth limits of mobile bottom-tending fishing gear currently in use.", "id": "H440AF83A2BB24E4A80C2F46B460851DF", "header": "Study areas identified through fishing records", "nested": [], "links": [] }, { "text": "(b) Study areas identified through bycatch records, research, or mapping \nThe Secretary shall review on a continuing basis bycatch records, research, mapping, and survey data obtained from areas of the Exclusive Economic Zone open to fishing with commercial mobile bottom-tending gear to determine if these data indicate the actual or potential presence of a deep sea coral and sponge ecosystem. If the Secretary determines that the data indicate the actual or potential presence of a deep sea coral and sponge ecosystem, the Secretary shall designate the area as a Coral Study Area. The designation shall expire upon decision by the Secretary to terminate the designation pursuant to subsection (d) of this section.", "id": "HE80CA302DAF8471DA269F85D35D8E46", "header": "Study areas identified through bycatch records, research, or mapping", "nested": [], "links": [] }, { "text": "(c) Study areas recommended by the Advisory Panel \n(1) Proposed rule \nNot later than 30 days after receiving a recommendation pursuant to section 6(c)(1)(B), the Secretary shall publish in the Federal Register a proposed rule to designate any recommended area as a Coral Study Area. (2) Comment period \nThe Secretary shall accept comments on any proposed rule published under paragraph (1) for 60 days after the date of the publication of such proposed rule. (3) Final determination \nNot later than 120 days after the publication of such proposed rule, the Secretary shall designate the area recommended under section 6(c)(1)(B) as a Coral Study Area unless the Secretary finds no rational basis for the recommendation.", "id": "HE67827F76F7642E59E93F25E58B176B1", "header": "Study areas recommended by the Advisory Panel", "nested": [], "links": [] }, { "text": "(d) Termination of study area designation \nThe Secretary, sua sponte or upon recommendation of the Council having advisory duties for the fisheries of the area, may determine that an area or part of an area that is designated as a Coral Study Area pursuant to subsections (a), (b), or (c) shall no longer be designated as a Coral Study Area, if the area is— (1) designated as a Coral Management Area pursuant to section 9; or (2) does not warrant designation as a Coral Management Area pursuant to the criteria in subsection 9(b) and is reopened to mobile bottom-tending fishing gears, unless the use of mobile bottom-tending fishing gear in such area is prohibited by any other provision of law.", "id": "H85331980AB464393A168B803B886BA9D", "header": "Termination of study area designation", "nested": [], "links": [] } ], "links": [] }, { "text": "9. Coral Management Areas \n(a) Initial designations \nEach area bounded by the following coordinates is designated as a Coral Management Area: (1) Alaska deep sea coral gardens \n(A) Adak Canyon 51°38´59´´ N. x 177°03´00´´ W., 51°38´59´´ N. x 177°00´00´´ W., 51°30´00´´ N. x 177°00´00´´ W., 51°30´00´´ N. x 177°03´00´´ W. (B) Bobrof Island 51°57´36´´ N. x 177°29´24´´ W., 51°57´36´´ N. x 177°19´48´´ W., 51°51´35´´ N. x 177°19´48´´ W., 51°51´35´´ N. x 177°29´24´´ W. (C) Cape Moffet 51°55´47´´ N. x 176°52´47´´ W., 51°55´47´´ N. x 176°48´36´´ W., 51°58´11´´ N. x 176°46´48´´ W., 52°00´00´´ N. x 176°46´48´´ W., 52°00´00´´ N. x 176°52´47´´ W. (D) Great Sitkin 52°09´35´´ N. x 176°12´36´´ W., 52°09´35´´ N. x 176°05´59´´ W., 52°06´35´´ N. x 176°05´59´´ W., 52°04´47´´ N. x 176°12´36´´ W. (E) Semisopochnoi Island 51°53´24´´ N. x 179°53´23´´ W., 51°53´24´´ N. x 179°46´48´´ W., 51°48´36´´ N. x 179°46´48´´ W., 51°48´36´´ N. x 179°53´23´´ W. (F) Ulak Island 51°22´11´´ N. x 178°58´47´´ W., 51°25´47´´ N. x 179°05´59´´ W., 51°22´11´´ N. x 179°05´59´´ W., 51°25´47´´ N. x 178°58´47´´ W. (2) Oceanographer canyon \n40°30´ N. x 68°11´ W., 40°10´ N. x 68°10´ W., and 40°10´ N. x 68°00´ W. (3) Lydonia canyon \n40°36´ N. x 67°45´ W., 40°15´ N. x 67°45´ W., and 40°15´ N. x 67°35´ W. (4) Oculina reefs \n(A) 27°30´ N. x 80° W., 28°30´ N. x 80° W., and the 183-meter contour. (B) 28°30´ N. x 80° W., 28°30´ N. x 80°03´ W., 28°29´ N. x 80° W., and 28°29´ N. x 80°03´ W. (C) 28°17´ N. x 80° W., 28°16´ N. x 80° W., 28°17´ N. x 80°03´ W., and 28°16´ N. x 80°03´ W. (5) Lophelia/enallopsammia habitat \n(A) Northern Lophelia Banks 34°23´30´´ N. x 75°45´ W., 34°13´30´´ N. x 75°57´ W., 34°19´30´´ N. x 75°41´30´´ W., 34°9´ N. x 75°53´ W. (B) Southern Lophelia Banks 33°40´ N. x 76°29´ W., 33°36´ N. x 76°34´ W., 33°34´ N. x 76°23´ W., 33°29´ N. x 76°28´ W. (C) Stetson Area 32°8´ N. x 77°42´30´´ W., 31°42´30´´ N. x 77°42´30´´ W., 32°8´ N. x 77°17´ W., 31°42´30´´ N. x 77°17´ W. (D) 30°53´ N. x 79°41´30´´ W., 30°48´30´´ N. x 79°32´ W., 30°16´45´´ N. x 79°18´20´´ W., 30°10´30´´ N. x 79°46´15´´ W., 30°22´ N. x 79°56´30´´ W. (E) 29°55´ N. x 79°39´ W., 30°5´ N. x 78°40´ W., 29°8´ N. x 79°45´ W., 28°50´ N. x 79°38´ W., 28°55´ N. x 79°2´ W. (F) 28°50´ N. x 79°38´ W., 28°9´ N. x 79°6´ W., 27°27´ N. x 79°29´50´´ W., 27°57´30´´ N. x 79°32´30´´ W., 27°57´30´´ N. x 79°45´ W., 28°7´30´´ N. x 79°45´ W., 28°7´30´´ N. x 79°40´ W. (G) 27°19´ N. x 79°31´ W., 27° N. x 79°32´ W., 27° N. x 79°22´ W. (6) Bear seamount \n39°52´ N. x 67°30´ W., 39°58´ N. x 67°30´ W., 39°58´ N. x 67°50´ W., and 39°52´ N. x 67°50´ W. (b) Areas identified from research on Coral Study Areas \nThe Secretary shall designate as a Coral Management Area all or any part of a Coral Study Area if— (1) the area has been surveyed for the presence of deep sea corals and deep sea sponges; (2) there is a deep sea coral and sponge ecosystem present in the area; and (3) the Secretary determines that the use of mobile bottom-tending fishing gear in such area would cause more than minimal and temporary damage to deep sea corals or deep sea sponges located in such area. (c) Areas recommended by the Advisory Panel \n(1) Proposed rule \nNot later than 30 days after receiving a recommendation pursuant to section 6(c)(1)(A), the Secretary shall publish in the Federal Register a proposed rule to designate any recommended area as a Coral Management Area. (2) Comment period \nThe Secretary shall accept comments on any proposed rule published under paragraph (1) for 60 days after the date of the publication of such proposed rule. (3) Final determination \nNot later than 120 days after the publication of such proposed rule, the Secretary shall designate the area recommended under section 6(c)(1)(A) as a Coral Management Area unless the Secretary finds no rational basis for the recommendation.", "id": "HA28A04E338F340A3883188746D9E4213", "header": "Coral Management Areas", "nested": [ { "text": "(a) Initial designations \nEach area bounded by the following coordinates is designated as a Coral Management Area: (1) Alaska deep sea coral gardens \n(A) Adak Canyon 51°38´59´´ N. x 177°03´00´´ W., 51°38´59´´ N. x 177°00´00´´ W., 51°30´00´´ N. x 177°00´00´´ W., 51°30´00´´ N. x 177°03´00´´ W. (B) Bobrof Island 51°57´36´´ N. x 177°29´24´´ W., 51°57´36´´ N. x 177°19´48´´ W., 51°51´35´´ N. x 177°19´48´´ W., 51°51´35´´ N. x 177°29´24´´ W. (C) Cape Moffet 51°55´47´´ N. x 176°52´47´´ W., 51°55´47´´ N. x 176°48´36´´ W., 51°58´11´´ N. x 176°46´48´´ W., 52°00´00´´ N. x 176°46´48´´ W., 52°00´00´´ N. x 176°52´47´´ W. (D) Great Sitkin 52°09´35´´ N. x 176°12´36´´ W., 52°09´35´´ N. x 176°05´59´´ W., 52°06´35´´ N. x 176°05´59´´ W., 52°04´47´´ N. x 176°12´36´´ W. (E) Semisopochnoi Island 51°53´24´´ N. x 179°53´23´´ W., 51°53´24´´ N. x 179°46´48´´ W., 51°48´36´´ N. x 179°46´48´´ W., 51°48´36´´ N. x 179°53´23´´ W. (F) Ulak Island 51°22´11´´ N. x 178°58´47´´ W., 51°25´47´´ N. x 179°05´59´´ W., 51°22´11´´ N. x 179°05´59´´ W., 51°25´47´´ N. x 178°58´47´´ W. (2) Oceanographer canyon \n40°30´ N. x 68°11´ W., 40°10´ N. x 68°10´ W., and 40°10´ N. x 68°00´ W. (3) Lydonia canyon \n40°36´ N. x 67°45´ W., 40°15´ N. x 67°45´ W., and 40°15´ N. x 67°35´ W. (4) Oculina reefs \n(A) 27°30´ N. x 80° W., 28°30´ N. x 80° W., and the 183-meter contour. (B) 28°30´ N. x 80° W., 28°30´ N. x 80°03´ W., 28°29´ N. x 80° W., and 28°29´ N. x 80°03´ W. (C) 28°17´ N. x 80° W., 28°16´ N. x 80° W., 28°17´ N. x 80°03´ W., and 28°16´ N. x 80°03´ W. (5) Lophelia/enallopsammia habitat \n(A) Northern Lophelia Banks 34°23´30´´ N. x 75°45´ W., 34°13´30´´ N. x 75°57´ W., 34°19´30´´ N. x 75°41´30´´ W., 34°9´ N. x 75°53´ W. (B) Southern Lophelia Banks 33°40´ N. x 76°29´ W., 33°36´ N. x 76°34´ W., 33°34´ N. x 76°23´ W., 33°29´ N. x 76°28´ W. (C) Stetson Area 32°8´ N. x 77°42´30´´ W., 31°42´30´´ N. x 77°42´30´´ W., 32°8´ N. x 77°17´ W., 31°42´30´´ N. x 77°17´ W. (D) 30°53´ N. x 79°41´30´´ W., 30°48´30´´ N. x 79°32´ W., 30°16´45´´ N. x 79°18´20´´ W., 30°10´30´´ N. x 79°46´15´´ W., 30°22´ N. x 79°56´30´´ W. (E) 29°55´ N. x 79°39´ W., 30°5´ N. x 78°40´ W., 29°8´ N. x 79°45´ W., 28°50´ N. x 79°38´ W., 28°55´ N. x 79°2´ W. (F) 28°50´ N. x 79°38´ W., 28°9´ N. x 79°6´ W., 27°27´ N. x 79°29´50´´ W., 27°57´30´´ N. x 79°32´30´´ W., 27°57´30´´ N. x 79°45´ W., 28°7´30´´ N. x 79°45´ W., 28°7´30´´ N. x 79°40´ W. (G) 27°19´ N. x 79°31´ W., 27° N. x 79°32´ W., 27° N. x 79°22´ W. (6) Bear seamount \n39°52´ N. x 67°30´ W., 39°58´ N. x 67°30´ W., 39°58´ N. x 67°50´ W., and 39°52´ N. x 67°50´ W.", "id": "H8AB930D6498E49F5BCFA9347C750B927", "header": "Initial designations", "nested": [], "links": [] }, { "text": "(b) Areas identified from research on Coral Study Areas \nThe Secretary shall designate as a Coral Management Area all or any part of a Coral Study Area if— (1) the area has been surveyed for the presence of deep sea corals and deep sea sponges; (2) there is a deep sea coral and sponge ecosystem present in the area; and (3) the Secretary determines that the use of mobile bottom-tending fishing gear in such area would cause more than minimal and temporary damage to deep sea corals or deep sea sponges located in such area.", "id": "H68F5A06DC8CE44E7A75F9030EC2DEEBC", "header": "Areas identified from research on Coral Study Areas", "nested": [], "links": [] }, { "text": "(c) Areas recommended by the Advisory Panel \n(1) Proposed rule \nNot later than 30 days after receiving a recommendation pursuant to section 6(c)(1)(A), the Secretary shall publish in the Federal Register a proposed rule to designate any recommended area as a Coral Management Area. (2) Comment period \nThe Secretary shall accept comments on any proposed rule published under paragraph (1) for 60 days after the date of the publication of such proposed rule. (3) Final determination \nNot later than 120 days after the publication of such proposed rule, the Secretary shall designate the area recommended under section 6(c)(1)(A) as a Coral Management Area unless the Secretary finds no rational basis for the recommendation.", "id": "HE944FEE419FE4B99A7E9A4CD95256D60", "header": "Areas recommended by the Advisory Panel", "nested": [], "links": [] } ], "links": [] }, { "text": "10. Penalties and enforcement \n(a) Civil penalties \nThe civil penalties set forth in section 308 of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1858 ) shall apply to a person who is found by the Secretary, after notice and an opportunity for a hearing in accordance with section 554 of title 5, United States Code, to have violated the prohibitions in section 7. (b) Criminal offenses \n(1) Prohibited acts \nIt is unlawful for any person— (A) to refuse to permit any officer authorized to enforce the provisions of this Act (as provided for in subsection (d)) to board a fishing vessel subject to such person’s control for purposes of conducting any search or inspection in connection with the enforcement of this Act or any regulation issued pursuant to this Act; (B) to forcibly assault, resist, oppose, impede, intimidate, or interfere with any such authorized officer in the conduct of any search or inspection described in subparagraph (A); (C) to resist a lawful arrest for any act prohibited by this Act; (D) to interfere with, delay, or prevent, by any means, the apprehension or arrest of another person, knowing that such other person has committed any act prohibited by this Act; (E) to knowingly and willfully submit to a Council, the Secretary, or the Advisory Panel false information regarding any matter that the Council, Secretary, or Advisory Panel is considering in the course of carrying out this Act; or (F) to forcibly assault, resist, oppose, impede, intimidate, sexually harass, bribe, or interfere with any observer on a vessel under this Act, or any data collector employed by the National Marine Fisheries Service or under contract to any person to carry out responsibilities under this Act. (2) Punishment \nA person is guilty of an offense if such person commits any act prohibited by paragraph (1). Such offense is punishable by the punishments set forth in section 309(b) of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1859(b) ). (c) Civil forfeitures \nAny fishing vessel (including its fishing gear, furniture, appurtenances, stores, and cargo) used, and fish (or the fair market value thereof) taken or retained, in any manner, in connection with or as a result of the commission of a violation of the prohibitions in section 7 (other than such a violation for which the issuance of a citation is sufficient sanction) shall be subject to the civil forfeiture provisions set out in section 310 of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1860 ). (d) Enforcement \nThe provisions of this Act shall be enforced by the officers responsible for the enforcement of the Magnuson-Stevens Fishery Conservation and Management Act as provided for in subsection (a) of section 311 of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1861 ). Such officers shall have the powers and authorities to enforce this Act as are provided in such section.", "id": "H346DEA7421484062814DECCD1B216400", "header": "Penalties and enforcement", "nested": [ { "text": "(a) Civil penalties \nThe civil penalties set forth in section 308 of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1858 ) shall apply to a person who is found by the Secretary, after notice and an opportunity for a hearing in accordance with section 554 of title 5, United States Code, to have violated the prohibitions in section 7.", "id": "HDCBEA19E7BB24FC1BAD94BF2E308FFC5", "header": "Civil penalties", "nested": [], "links": [ { "text": "16 U.S.C. 1858", "legal-doc": "usc", "parsable-cite": "usc/16/1858" }, { "text": "section 554", "legal-doc": "usc", "parsable-cite": "usc/5/554" } ] }, { "text": "(b) Criminal offenses \n(1) Prohibited acts \nIt is unlawful for any person— (A) to refuse to permit any officer authorized to enforce the provisions of this Act (as provided for in subsection (d)) to board a fishing vessel subject to such person’s control for purposes of conducting any search or inspection in connection with the enforcement of this Act or any regulation issued pursuant to this Act; (B) to forcibly assault, resist, oppose, impede, intimidate, or interfere with any such authorized officer in the conduct of any search or inspection described in subparagraph (A); (C) to resist a lawful arrest for any act prohibited by this Act; (D) to interfere with, delay, or prevent, by any means, the apprehension or arrest of another person, knowing that such other person has committed any act prohibited by this Act; (E) to knowingly and willfully submit to a Council, the Secretary, or the Advisory Panel false information regarding any matter that the Council, Secretary, or Advisory Panel is considering in the course of carrying out this Act; or (F) to forcibly assault, resist, oppose, impede, intimidate, sexually harass, bribe, or interfere with any observer on a vessel under this Act, or any data collector employed by the National Marine Fisheries Service or under contract to any person to carry out responsibilities under this Act. (2) Punishment \nA person is guilty of an offense if such person commits any act prohibited by paragraph (1). Such offense is punishable by the punishments set forth in section 309(b) of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1859(b) ).", "id": "H8132A85FF0884EF497B7D259AA33EB01", "header": "Criminal offenses", "nested": [], "links": [ { "text": "16 U.S.C. 1859(b)", "legal-doc": "usc", "parsable-cite": "usc/16/1859" } ] }, { "text": "(c) Civil forfeitures \nAny fishing vessel (including its fishing gear, furniture, appurtenances, stores, and cargo) used, and fish (or the fair market value thereof) taken or retained, in any manner, in connection with or as a result of the commission of a violation of the prohibitions in section 7 (other than such a violation for which the issuance of a citation is sufficient sanction) shall be subject to the civil forfeiture provisions set out in section 310 of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1860 ).", "id": "H4235993BDFC64BE68B37D55216CDE06", "header": "Civil forfeitures", "nested": [], "links": [ { "text": "16 U.S.C. 1860", "legal-doc": "usc", "parsable-cite": "usc/16/1860" } ] }, { "text": "(d) Enforcement \nThe provisions of this Act shall be enforced by the officers responsible for the enforcement of the Magnuson-Stevens Fishery Conservation and Management Act as provided for in subsection (a) of section 311 of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1861 ). Such officers shall have the powers and authorities to enforce this Act as are provided in such section.", "id": "H16A9F54A1DDA4C55BE5E5E77C30D4CD", "header": "Enforcement", "nested": [], "links": [ { "text": "16 U.S.C. 1861", "legal-doc": "usc", "parsable-cite": "usc/16/1861" } ] } ], "links": [ { "text": "16 U.S.C. 1858", "legal-doc": "usc", "parsable-cite": "usc/16/1858" }, { "text": "section 554", "legal-doc": "usc", "parsable-cite": "usc/5/554" }, { "text": "16 U.S.C. 1859(b)", "legal-doc": "usc", "parsable-cite": "usc/16/1859" }, { "text": "16 U.S.C. 1860", "legal-doc": "usc", "parsable-cite": "usc/16/1860" }, { "text": "16 U.S.C. 1861", "legal-doc": "usc", "parsable-cite": "usc/16/1861" } ] }, { "text": "11. International protections for deep sea corals and sponges \nThe President is encouraged to work with appropriate foreign entities to develop the data necessary to identify areas located within international waters that would benefit from additional protection for deep sea corals and sponges.", "id": "H2F6E30FCADA3464AA5B9B3BEBE9CD90", "header": "International protections for deep sea corals and sponges", "nested": [], "links": [] }, { "text": "12. Reports \n(a) Report to Congress \n(1) Report requirement \nOn the date that is 3 years after the date of enactment of this Act, and every 3 years thereafter, the Secretary shall submit to the Congress a report on the activities undertaken to carry out this Act. (2) Content \nEach report required by this subsection shall include a description of— (A) the activities carried out to protect and monitor deep sea corals and deep sea sponges; (B) any area designated as either a Coral Study Area pursuant to section 8 or a Coral Management Area pursuant to section 9; (C) any area the designation of which as a Coral Study Area is terminated and that is opened to mobile bottom-tending fishing pursuant to subsection 8(d); (D) a summary of any bycatch or other data that indicates the actual or potential presence of a deep sea coral and sponge ecosystem; and (E) a summary of the research strategy created pursuant to section 5. (b) Published report \n(1) Report requirement \nAt least every 2 years the Secretary shall prepare and publish a report that— (A) provides a description of any area that the Secretary— (i) has designated as a Coral Study Area under section 8; (ii) has designated as a Coral Management Area under section 9; or (iii) has determined shall no longer be designated as a Coral Study Area under section 8(c); (B) summarizes any bycatch data that indicated the presence of a deep sea coral and sponge ecosystem; and (C) summarizes the research strategy created pursuant to section 5. (2) Notice \nThe Secretary shall publish in the Federal Register a notice of availability of each report required by this subsection.", "id": "H5A926D3653E940F6991908B4F6F7C846", "header": "Reports", "nested": [ { "text": "(a) Report to Congress \n(1) Report requirement \nOn the date that is 3 years after the date of enactment of this Act, and every 3 years thereafter, the Secretary shall submit to the Congress a report on the activities undertaken to carry out this Act. (2) Content \nEach report required by this subsection shall include a description of— (A) the activities carried out to protect and monitor deep sea corals and deep sea sponges; (B) any area designated as either a Coral Study Area pursuant to section 8 or a Coral Management Area pursuant to section 9; (C) any area the designation of which as a Coral Study Area is terminated and that is opened to mobile bottom-tending fishing pursuant to subsection 8(d); (D) a summary of any bycatch or other data that indicates the actual or potential presence of a deep sea coral and sponge ecosystem; and (E) a summary of the research strategy created pursuant to section 5.", "id": "H6B9400D3D7AE4EA7B117C1761B1F4DE1", "header": "Report to Congress", "nested": [], "links": [] }, { "text": "(b) Published report \n(1) Report requirement \nAt least every 2 years the Secretary shall prepare and publish a report that— (A) provides a description of any area that the Secretary— (i) has designated as a Coral Study Area under section 8; (ii) has designated as a Coral Management Area under section 9; or (iii) has determined shall no longer be designated as a Coral Study Area under section 8(c); (B) summarizes any bycatch data that indicated the presence of a deep sea coral and sponge ecosystem; and (C) summarizes the research strategy created pursuant to section 5. (2) Notice \nThe Secretary shall publish in the Federal Register a notice of availability of each report required by this subsection.", "id": "H1ACF42D352E340F4987E1B947D88CC11", "header": "Published report", "nested": [], "links": [] } ], "links": [] }, { "text": "13. Authorization of appropriations \nThere is authorized to be appropriated to the Secretary to carry out this Act $50,000,000 for each of fiscal years 2005 through 2009.", "id": "H89396E3C1E174785B6FBE821D14B6DB8", "header": "Authorization of appropriations", "nested": [], "links": [] } ]

[ "Administrative procedure", "Animals", "Assault", "Biological research", "Bribery", "Congress", "Congressional reporting requirements", "Coral reefs", "Crime and Law Enforcement", "Department of Commerce", "Ecological research", "Ecological surveys", "Ecosystem management", "Environmental Protection", "Environmental monitoring", "Equipment and supplies", "Federal advisory bodies", "Fines (Penalties)", "Fishery management", "Fishing boats", "Forfeiture", "Fraud", "Fugitives from justice", "Government Operations and Politics", "Government publicity", "Habitat conservation", "International Affairs", "International environmental cooperation", "Law", "Maps", "Marine and coastal resources, fisheries", "Marine animals", "Marine resources conservation", "Obstruction of justice", "Oceanographic research", "Oceanography", "Research natural areas", "Science, Technology, Communications", "Searches and seizures", "Sexual harassment", "Territorial waters", "Women" ]

[ { "text": "1. Increase amount of capital losses which may offset ordinary income \n(a) In general \nParagraph (1) of section 1211(b) of the Internal Revenue Code of 1986 (relating to limitation on capital losses for taxpayers other than corporations) is amended by striking $3,000 ($1,500 and inserting $9,000 (1/2 such amount. (b) Adjustment for Inflation \nSection 1211 of such Code (relating to limitation on capital losses) is amended by adding at the end the following new subsection: (c) Adjustment for Inflation \n(1) In general \nIn the case of any taxable year beginning in a calendar year after 2004, the $9,000 amount contained in subsection (b)(1) shall be increased by an amount equal to— (A) such amount, multiplied by (B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins by substituting calendar year 2003 for calendar year 1992 in subparagraph (B) thereof. (2) Rounding \nIf any increase determined under paragraph (1) is not a multiple of $1,000, such increase shall be rounded to the next highest multiple of $1,000.. (c) Effective Date \nThe amendments made by this section shall apply to taxable years beginning after December 31, 2003.", "id": "HBAB9492D239441769155862F69B63100", "header": "Increase amount of capital losses which may offset ordinary income", "nested": [ { "text": "(a) In general \nParagraph (1) of section 1211(b) of the Internal Revenue Code of 1986 (relating to limitation on capital losses for taxpayers other than corporations) is amended by striking $3,000 ($1,500 and inserting $9,000 (1/2 such amount.", "id": "H1C5295DDF2FB440FB9008DAB7E60FBC0", "header": "In general", "nested": [], "links": [ { "text": "section 1211(b)", "legal-doc": "usc", "parsable-cite": "usc/26/1211" } ] }, { "text": "(b) Adjustment for Inflation \nSection 1211 of such Code (relating to limitation on capital losses) is amended by adding at the end the following new subsection: (c) Adjustment for Inflation \n(1) In general \nIn the case of any taxable year beginning in a calendar year after 2004, the $9,000 amount contained in subsection (b)(1) shall be increased by an amount equal to— (A) such amount, multiplied by (B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins by substituting calendar year 2003 for calendar year 1992 in subparagraph (B) thereof. (2) Rounding \nIf any increase determined under paragraph (1) is not a multiple of $1,000, such increase shall be rounded to the next highest multiple of $1,000..", "id": "H18A5DB42027B4C36B396BD61A15DE82C", "header": "Adjustment for Inflation", "nested": [], "links": [] }, { "text": "(c) Effective Date \nThe amendments made by this section shall apply to taxable years beginning after December 31, 2003.", "id": "H33AD74610E424C09892FABC47BA61700", "header": "Effective Date", "nested": [], "links": [] } ], "links": [ { "text": "section 1211(b)", "legal-doc": "usc", "parsable-cite": "usc/26/1211" } ] } ]

[ "Capital", "Cost of living adjustments", "Economics and Public Finance", "Finance and Financial Sector", "Income tax", "Indexing (Economic policy)", "Losses", "Tax deductions" ]

[ { "text": "1. Short title \nThis Act may be cited as the Jobs Investment Act of 2004.", "id": "HD30165F2CCDA4E339FED619308155300", "header": "Short title", "nested": [], "links": [] }, { "text": "2. State tax incentives for investment in the acquisition, construction, installation, and rehabilitation of improvements, real estate, fixtures, equipment, and facilities \n(a) In general \nA State may provide to any entity— (1) a credit against any tax or fee owed to the State under a State law; or (2) any other tax incentive, determined by the State to be appropriate, in an amount calculated under a formula determined by the State, for investment in the acquisition, construction, installation, and rehabilitation of improvements, real estate, fixtures, equipment, and facilities located in the State by the entity that receives such credit or such incentive. (b) Effect on interstate commerce \nAny action taken by a State in accordance with this section with respect to a tax or fee payable, or incentive applicable, for any period beginning after the date of the enactment of this Act shall— (1) be considered to be a reasonable regulation of commerce; and (2) not be considered an undue burden in interstate commerce or otherwise impair, restrain, or discriminate against interstate commerce.", "id": "H0384813F05B44E64A7492845EBFCFF6", "header": "State tax incentives for investment in the acquisition, construction, installation, and rehabilitation of improvements, real estate, fixtures, equipment, and facilities", "nested": [ { "text": "(a) In general \nA State may provide to any entity— (1) a credit against any tax or fee owed to the State under a State law; or (2) any other tax incentive, determined by the State to be appropriate, in an amount calculated under a formula determined by the State, for investment in the acquisition, construction, installation, and rehabilitation of improvements, real estate, fixtures, equipment, and facilities located in the State by the entity that receives such credit or such incentive.", "id": "H8CB4743550C7453881176FC8FBAC2BD", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Effect on interstate commerce \nAny action taken by a State in accordance with this section with respect to a tax or fee payable, or incentive applicable, for any period beginning after the date of the enactment of this Act shall— (1) be considered to be a reasonable regulation of commerce; and (2) not be considered an undue burden in interstate commerce or otherwise impair, restrain, or discriminate against interstate commerce.", "id": "H41764AF7671D4F41A7C157A7AEBC4149", "header": "Effect on interstate commerce", "nested": [], "links": [] } ], "links": [] } ]

[ "Administrative fees", "Capital investments", "Commerce", "Corporation taxes", "Economics and Public Finance", "Federal-state relations", "Finance and Financial Sector", "Income tax", "Interstate commerce", "Law", "Location of industries", "State laws", "State taxation", "Tax credits", "Tax incentives", "Taxation", "User charges" ]

[ { "text": "1. Short title \nThis Act may be cited as the.", "id": "H2D495D8B69B24FAEAEAABC66008DD33D", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Findings \nCongress finds that— (1) inefficiency and ineffectiveness in Federal programs undermines the confidence of the American people in the Government and reduces the Federal Government’s ability to adequately address vital public needs; (2) insufficient information on program performance seriously disadvantages Federal managers in their efforts to improve program efficiency and effectiveness; (3) congressional policy making, spending decisions, and program oversight are handicapped by insufficient attention to program performance and results; (4) programs performing similar or duplicative functions that exist within a single agency or across multiple agencies should be identified and their performance and results shared among all such programs to improve their performance and results; (5) advocates of good government continue to seek ways to improve accountability, focus on results, and integrate the performance of programs with decisions about budgets; (6) with the passage of the Government Performance and Results Act of 1993, the Congress directed the executive branch to seek improvements in the effectiveness, efficiency, and accountability of Federal programs by having agencies focus on program results; and (7) the Government Performance and Results Act of 1993 provided a strong framework for the executive branch to monitor the long-term goals and annual performance of its departments and agencies.", "id": "HB4F89B7D24B34DFA85DDD146C1D16454", "header": "Findings", "nested": [], "links": [] }, { "text": "3. Purpose \nThe purposes of this Act are— (1) to improve the Government Performance and Results Act of 1993 by implementing a program review and evaluation process that attempts to determine the strengths and weaknesses of Federal programs with a particular focus on the results produced by individual programs; (2) to use the information gathered in the review and evaluation process to build on the groundwork laid in the Government Performance and Results Act of 1993 to help the executive branch make informed management decisions and evidence-based funding requests aimed at achieving positive results; and (3) to provide congressional policy makers the information needed to conduct more effective oversight, to make better-informed authorization decisions, and to make more evidence-based spending decisions that achieve positive results for the American people.", "id": "H53CA9B39E38E42178266620600B9942C", "header": "Purpose", "nested": [], "links": [] }, { "text": "4. Program Review and Evaluation \n(a) Requirement for Program Reviews \nChapter 11 of title 31, United States Code, as amended by the Government Performance and Results Act of 1993, is amended by adding at the end the following new section: 1120. Program review and evaluation \n(a) Review \nThe Director of the Office of Management and Budget shall conduct a review of each program activity at least once every 5 fiscal years. (b) Review requirements \nIn conducting a review of a program activity under subsection (a), the Director of the Office of Management and Budget shall— (1) consult with the relevant agency; and (2) evaluate the purpose, design, strategic plan, management, and results of the program, and such other matters as the Director considers appropriate. (c) Criteria for Identifying Programs To Review \nThe Director of the Office of Management and Budget shall develop criteria for identifying program activities to be reviewed each fiscal year. In developing the criteria, the Director shall take into account the advantages of reviewing during the same fiscal year any program activities that are performing similar functions or have similar purposes. (d) Criteria for more frequent reviews \nThe Director of the Office of Management and Budget shall make every effort to review program activities more frequently than required under subsection (a) in cases in which program activities are determined to be of higher priority, special circumstances exist, improvements have been made, or the head of the relevant agency and the Director determine that more frequent review is warranted. (e) Report \nThe results of the reviews conducted during a fiscal year shall be submitted in a report to Congress at the same time that the President submits the next budget under section 1105 of this title after the end of that fiscal year.. (b) Guidance \nNot later than 6 months after the date of the enactment of this Act, the Director of the Office of Management and Budget shall prescribe guidance to implement the requirements of section 1120 of title 31, United States Code, as added by subsection (a). (c) Conforming Amendment \nSection 1115(g) of title 31, United States Code, is amended by striking 1119 and inserting 1120.", "id": "H74B3CC6BBB6D4FF6B65888302F659898", "header": " Program Review and Evaluation", "nested": [ { "text": "(a) Requirement for Program Reviews \nChapter 11 of title 31, United States Code, as amended by the Government Performance and Results Act of 1993, is amended by adding at the end the following new section: 1120. Program review and evaluation \n(a) Review \nThe Director of the Office of Management and Budget shall conduct a review of each program activity at least once every 5 fiscal years. (b) Review requirements \nIn conducting a review of a program activity under subsection (a), the Director of the Office of Management and Budget shall— (1) consult with the relevant agency; and (2) evaluate the purpose, design, strategic plan, management, and results of the program, and such other matters as the Director considers appropriate. (c) Criteria for Identifying Programs To Review \nThe Director of the Office of Management and Budget shall develop criteria for identifying program activities to be reviewed each fiscal year. In developing the criteria, the Director shall take into account the advantages of reviewing during the same fiscal year any program activities that are performing similar functions or have similar purposes. (d) Criteria for more frequent reviews \nThe Director of the Office of Management and Budget shall make every effort to review program activities more frequently than required under subsection (a) in cases in which program activities are determined to be of higher priority, special circumstances exist, improvements have been made, or the head of the relevant agency and the Director determine that more frequent review is warranted. (e) Report \nThe results of the reviews conducted during a fiscal year shall be submitted in a report to Congress at the same time that the President submits the next budget under section 1105 of this title after the end of that fiscal year..", "id": "H3BDEDDEE9E2A4F43BCC3004C9F3218F9", "header": "Requirement for Program Reviews", "nested": [], "links": [ { "text": "Chapter 11", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/31/11" } ] }, { "text": "(b) Guidance \nNot later than 6 months after the date of the enactment of this Act, the Director of the Office of Management and Budget shall prescribe guidance to implement the requirements of section 1120 of title 31, United States Code, as added by subsection (a).", "id": "HA4366072222D4336BF3900F36B74AD1E", "header": "Guidance", "nested": [], "links": [ { "text": "section 1120", "legal-doc": "usc", "parsable-cite": "usc/31/1120" } ] }, { "text": "(c) Conforming Amendment \nSection 1115(g) of title 31, United States Code, is amended by striking 1119 and inserting 1120.", "id": "H2FB9ABCD396E46F689D100FEA85D11C", "header": "Conforming Amendment", "nested": [], "links": [ { "text": "Section 1115(g)", "legal-doc": "usc", "parsable-cite": "usc/31/1115" } ] } ], "links": [ { "text": "Chapter 11", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/31/11" }, { "text": "section 1120", "legal-doc": "usc", "parsable-cite": "usc/31/1120" }, { "text": "Section 1115(g)", "legal-doc": "usc", "parsable-cite": "usc/31/1115" } ] }, { "text": "1120. Program review and evaluation \n(a) Review \nThe Director of the Office of Management and Budget shall conduct a review of each program activity at least once every 5 fiscal years. (b) Review requirements \nIn conducting a review of a program activity under subsection (a), the Director of the Office of Management and Budget shall— (1) consult with the relevant agency; and (2) evaluate the purpose, design, strategic plan, management, and results of the program, and such other matters as the Director considers appropriate. (c) Criteria for Identifying Programs To Review \nThe Director of the Office of Management and Budget shall develop criteria for identifying program activities to be reviewed each fiscal year. In developing the criteria, the Director shall take into account the advantages of reviewing during the same fiscal year any program activities that are performing similar functions or have similar purposes. (d) Criteria for more frequent reviews \nThe Director of the Office of Management and Budget shall make every effort to review program activities more frequently than required under subsection (a) in cases in which program activities are determined to be of higher priority, special circumstances exist, improvements have been made, or the head of the relevant agency and the Director determine that more frequent review is warranted. (e) Report \nThe results of the reviews conducted during a fiscal year shall be submitted in a report to Congress at the same time that the President submits the next budget under section 1105 of this title after the end of that fiscal year.", "id": "H8BC78A5F22624CF0AA8028BBD000C733", "header": "Program review and evaluation", "nested": [ { "text": "(a) Review \nThe Director of the Office of Management and Budget shall conduct a review of each program activity at least once every 5 fiscal years.", "id": "H45C95F5408FA410E8B482292A7DC8651", "header": "Review", "nested": [], "links": [] }, { "text": "(b) Review requirements \nIn conducting a review of a program activity under subsection (a), the Director of the Office of Management and Budget shall— (1) consult with the relevant agency; and (2) evaluate the purpose, design, strategic plan, management, and results of the program, and such other matters as the Director considers appropriate.", "id": "H0DF7EE6BEF8D48B3B161A949C54E9FA9", "header": "Review requirements", "nested": [], "links": [] }, { "text": "(c) Criteria for Identifying Programs To Review \nThe Director of the Office of Management and Budget shall develop criteria for identifying program activities to be reviewed each fiscal year. In developing the criteria, the Director shall take into account the advantages of reviewing during the same fiscal year any program activities that are performing similar functions or have similar purposes.", "id": "H196AA64FAA69405AA1C069E9E0F5615C", "header": "Criteria for Identifying Programs To Review", "nested": [], "links": [] }, { "text": "(d) Criteria for more frequent reviews \nThe Director of the Office of Management and Budget shall make every effort to review program activities more frequently than required under subsection (a) in cases in which program activities are determined to be of higher priority, special circumstances exist, improvements have been made, or the head of the relevant agency and the Director determine that more frequent review is warranted.", "id": "H46CF20946E214CA6AEF00016A3C4CD85", "header": "Criteria for more frequent reviews", "nested": [], "links": [] }, { "text": "(e) Report \nThe results of the reviews conducted during a fiscal year shall be submitted in a report to Congress at the same time that the President submits the next budget under section 1105 of this title after the end of that fiscal year.", "id": "H4A6A7EB02A7745368048E66FB779AB3D", "header": "Report", "nested": [], "links": [] } ], "links": [] }, { "text": "5. Strategic Planning Amendments \n(a) Change in Deadline for Strategic Plan \nSubsection (a) of section 306 of title 5, United States Code, is amended by striking Not later than September 30, 1997, and inserting Not later than September 30 of each year following a year in which an election for President occurs, beginning with September 30, 2005,. (b) Change in Period of Coverage of Strategic Plan \nSubsection (b) of section 306 of title 5, United States Code, is amended to read as follows: (b) Each strategic plan shall cover the 4-year period beginning on October 1 of the year following a year in which an election for President occurs..", "id": "H8F8E8ACBAC6D4B1EBF8BDA10C285EBEE", "header": "Strategic Planning Amendments", "nested": [ { "text": "(a) Change in Deadline for Strategic Plan \nSubsection (a) of section 306 of title 5, United States Code, is amended by striking Not later than September 30, 1997, and inserting Not later than September 30 of each year following a year in which an election for President occurs, beginning with September 30, 2005,.", "id": "HB65D64788CC442FAB589F3C012C5352", "header": "Change in Deadline for Strategic Plan", "nested": [], "links": [ { "text": "section 306", "legal-doc": "usc", "parsable-cite": "usc/5/306" } ] }, { "text": "(b) Change in Period of Coverage of Strategic Plan \nSubsection (b) of section 306 of title 5, United States Code, is amended to read as follows: (b) Each strategic plan shall cover the 4-year period beginning on October 1 of the year following a year in which an election for President occurs..", "id": "HD5EA2102ED51476AA00064C8DA5695FF", "header": "Change in Period of Coverage of Strategic Plan", "nested": [], "links": [ { "text": "section 306", "legal-doc": "usc", "parsable-cite": "usc/5/306" } ] } ], "links": [ { "text": "section 306", "legal-doc": "usc", "parsable-cite": "usc/5/306" }, { "text": "section 306", "legal-doc": "usc", "parsable-cite": "usc/5/306" } ] } ]

[ "Congress", "Congressional reporting requirements", "Economics and Public Finance", "Electronic government information", "Government publicity", "Performance measurement", "Planning-programming-budgeting", "Productivity in government", "Science, Technology, Communications", "Strategic planning", "Waste in government spending", "Web sites" ]

[ { "text": "1. Credit against the alternative minimum tax where stock acquired pursuant to an incentive stock option is sold or exchanged at a loss \n(a) In general \nSection 53 of the Internal Revenue Code of 1986 (relating to credit for prior year minimum tax liability) is amended by adding at the end the following new subsection: (e) Special rule in case of incentive stock options \n(1) In general \nThe amount determined under subsection (c) for any taxable year beginning after December 31, 2003, shall be not less than the incentive stock option tax. (2) Incentive stock option tax \nFor purposes of this subsection, the term incentive stock option tax means the excess (if any) of— (A) the aggregate tax imposed by section 55 by reason of section 56(b)(3) for all prior taxable years with respect to stock if— (i) such stock is sold or exchanged during the taxable year or any prior taxable year, and (ii) a loss is recognized on such sale or exchange for purposes of part VI, over (B) the aggregate increase in the amount determined under subsection (c) by reason of this subsection for all prior taxable years. (b) Effective date \nThe amendment made by this section shall apply to taxable years beginning after December 31, 2003.", "id": "H7C35CEA9AB6D4A76BA738E1FF0BECC84", "header": "Credit against the alternative minimum tax where stock acquired pursuant to an incentive stock option is sold or exchanged at a loss", "nested": [ { "text": "(a) In general \nSection 53 of the Internal Revenue Code of 1986 (relating to credit for prior year minimum tax liability) is amended by adding at the end the following new subsection: (e) Special rule in case of incentive stock options \n(1) In general \nThe amount determined under subsection (c) for any taxable year beginning after December 31, 2003, shall be not less than the incentive stock option tax. (2) Incentive stock option tax \nFor purposes of this subsection, the term incentive stock option tax means the excess (if any) of— (A) the aggregate tax imposed by section 55 by reason of section 56(b)(3) for all prior taxable years with respect to stock if— (i) such stock is sold or exchanged during the taxable year or any prior taxable year, and (ii) a loss is recognized on such sale or exchange for purposes of part VI, over (B) the aggregate increase in the amount determined under subsection (c) by reason of this subsection for all prior taxable years.", "id": "H434CAE719CAE407FB53DC8E6B1224B56", "header": "In general", "nested": [], "links": [ { "text": "Section 53", "legal-doc": "usc", "parsable-cite": "usc/26/53" } ] }, { "text": "(b) Effective date \nThe amendment made by this section shall apply to taxable years beginning after December 31, 2003.", "id": "HAB5AE1FC8C664B389382AA30D97190B7", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "Section 53", "legal-doc": "usc", "parsable-cite": "usc/26/53" } ] } ]

[ "Employee stock options", "Finance and Financial Sector", "Income tax", "Labor and Employment", "Losses", "Minimum tax", "Tax credits" ]

[ { "text": "1. Short title \nThis Act may be cited as.", "id": "H1694A843F213404C93FB9811A539728F", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Findings \nCongress finds the following: (1) Since World War II, hundreds of thousands of men and women have served in building the Nation’s nuclear defense and, in the course of this work, have been exposed to beryllium, ionizing radiation, and other hazards unique to nuclear weapons production and testing, including tens of thousands of workers in New Mexico. The purpose of the Energy Employees Occupational Illness Compensation Program Act of 2000 (in this section referred to as the Act ), which was enacted on October 30, 2000, is to provide for timely, uniform, and adequate compensation of covered employees and, where applicable, survivors of such employees, suffering from illnesses incurred by such employees in the performance of duty for the Department of Energy and certain of its contractors and subcontractors. (2) Executive Order No. 13179 required the Secretary of Health and Human Services to carry out the Act’s statutory requirement to issue and implement procedures for conducting radiation dose reconstruction, to establish the scientific basis for compensation, and to issue regulations under which classes of workers could petition to become members of a Special Exposure Cohort and under which such petitions could be evaluated. Pursuant to the Act, workers may petition to be members of a Special Exposure Cohort when it is not feasible to estimate dose with sufficient accuracy and there is a reasonable likelihood that exposures to radiation may have endangered the health of the class of workers. Special Exposure Cohort status provides an automatic presumption of causation for 22 radiation-related cancers without the need for attempting to estimate radiation dose, and is intended to remove an otherwise insurmountable burden of proof. Such Special Exposure Cohorts have been designated by Congress at Paducah, Kentucky, Portsmouth, Ohio, the K–25 facility at Oak Ridge, Tennessee, and the Amchitka Island Test site in Alaska. (3) The National Institute for Occupational Safety and Health was tasked with conducting radiation dose reconstructions under the Act. As of April 16, 2004, the Institute has completed 15 out of 571 radiation dose reconstructions for covered workers at Los Alamos, New Mexico. The Institute has completed only 18 out of 765 dose reconstructions in New Mexico. Sick workers are dying while awaiting a determination on their claims, and in many cases the delays have caused them to lose hope. (4) Congressional intent undergirding the statutory requirement to allow additional Special Exposure Cohorts was explained by Senator Jeff Bingaman, an original cosponsor, as part of the floor debate on the enactment of the Act on October 12, 2000. He stated that this provision was added for a significant minority who were exposed to radiation but for whom it would be infeasible to reconstruct their dose. There are several reasons why … this infeasibility might exist. First relevant dose records might be missing or might not exist altogether. Second there might be a way to reconstruct the dose, but it would be prohibitively expensive to do so. Finally it might take so long to reconstruct a dose for a group of workers that they will all be dead before we have an answer that can be used to determine their eligibility.. (5) Dose reconstruction is being interminably delayed for claimants at Los Alamos National Laboratory. A May 5, 2004, report to Congress by the Centers for Disease Control regarding obstacles to records recovery needed for radiation dose reconstruction states that: Los Alamos National Laboratory has not submitted individual bioassay data, nor detailed external dosimetry data. The submittals consist of derived dose quantities, which cannot readily be used in dose reconstructions because they use a different methodology than NIOSH uses for dose reconstructions. (6) Hearings and investigations reveal that there was not appropriate worker monitoring for mixed neutron and gamma radiation for certain time periods, doubtful reliability of radiation dosimetry reports provided to claimants for certain time periods, and for some claimants, access has been denied to particular monitoring records. One of the workers who testified at a Department of Energy hearing in Espanola, New Mexico, in 2000 described how he could fall through the cracks of a system that operated solely on dose histories. He was a supervisor at what was called the hot dump at Los Alamos. Environmental restoration reports indicate that more than 80 different radionuclides were taken there to be disposed of, making it very difficult to resconstruct dose amounts for each worker. (7) Over the course of the atomic weapons program at Los Alamos, health-related documents were withheld from the workers and public in order to shield the Government and its contractors from public criticism, concerns about union demands for hazardous duty pay, and real or perceived liability. (8) Memoranda indicate that air concentrations of radionuclides at Area G of Los Alamos were systematically underreported in environmental surveillance reports issued to the public in the late 1980’s and early 1990’s, according to the Pueblo Office of Environmental Protection in 1992. (9) During the 2003 and 2004 regular sessions, the New Mexico legislature, through the leadership of State Representative Ray Ruiz, enacted Joint Memorials calling upon the United States Congress to enact comprehensive reforms to subtitle B and subtitle D of the Act to remedy the injustices to workers made sick from employment by contractors and subcontractors at Los Alamos. House Joint Memorial 16 (2003) and House Joint Memorial 20 (2004) state in relevant part: those employees who are unable to obtain records establishing past exposures and employees whose claims of radiation exposure are in jeopardy of being denied due to scientific uncertainty in causation determinations should receive the benefit of the doubt and be compensated under the federal act. (10) The memorial also urges that, in enacting Federal reform legislation with respect to the Act: special exposure cohorts be established for employees in area G and the linear accelerator at Los Alamos national laboratory, and for security guards and all construction workers, due to the impossibility of accurately reconstructing past radiation doses.. (11) The predicates for a Special Exposure Cohort for Los Alamos workers have been met. For some, dose records are missing or are incomplete; for others, it is requiring a costly research effort, the reliability of the Institute’s dose estimates may be open to question, and for virtually all Los Alamos claimants, the Institute is taking so long to estimate dose that claimants are dying off before they ever receive a determination. Justice has been denied through interminable delays. New Mexico’s large population of potentially eligible claimants at Department of Energy facilities should not have to wait another generation or more to be compensated for their occupational illnesses.", "id": "HC627BC861ED7466F8D34ED37ED2BC55E", "header": "Findings", "nested": [], "links": [] }, { "text": "3. Definition of member of Special Exposure Cohort to include workers at Los Alamos National Laboratory, Los Alamos, New Mexico \n(a) In general \nSection 3621(14) of the Energy Employees Occupational Illness Compensation Program Act of 2000 ( 42 U.S.C. 7384l(14) ) is amended— (1) by redesignating subparagraph (C) as subparagraph (D); and (2) by inserting after subparagraph (B) the following: (C) The employee was so employed for a number of work days aggregating at least 250 work days during the period 1945 through 2000 at Los Alamos National Laboratory, Los Alamos, New Mexico, as a cohort-eligible Los Alamos worker (as defined in paragraph (18)) for work carried out under contract to the Department of Energy, and, during such employment— (i) was monitored through the use of— (I) dosimetry badges for exposure at the plant of the external parts of employee's body to radiation; or (II) biossays, in vivo monitoring, or breath samples for exposure at the plant to internal radiation; or (ii) worked in a job that had exposures comparable to a job that is monitored, or should have been monitored, under standards of the Department of Energy in effect on the date of the enactment of this subparagraph through the use of dosimetry badges for monitoring external radiation exposures, or bioassays or in vivo monitoring for internal radiation exposures.. (b) Cohort-eligible Los Alamos workers \nSection 3621 of such Act is further amended by adding at the end the following new paragraph: (18) The term cohort-eligible Los Alamos worker applies to employment— (A) in Area G or at the linear accelerator; (B) as a security guard or construction worker; or (C) in any area of Los Alamos National Laboratory and in any capacity, if all records necessary for radiation dose reconstruction under this Act with respect to that employee have not been received by the National Institute for Occupational Safety and Health from the Department of Energy or its contractors within 200 days after receipt of the claim under this Act with respect to that employee..", "id": "H0DEE9077EDEF4FD984F887B2AECA1892", "header": "Definition of member of Special Exposure Cohort to include workers at Los Alamos National Laboratory, Los Alamos, New Mexico", "nested": [ { "text": "(a) In general \nSection 3621(14) of the Energy Employees Occupational Illness Compensation Program Act of 2000 ( 42 U.S.C. 7384l(14) ) is amended— (1) by redesignating subparagraph (C) as subparagraph (D); and (2) by inserting after subparagraph (B) the following: (C) The employee was so employed for a number of work days aggregating at least 250 work days during the period 1945 through 2000 at Los Alamos National Laboratory, Los Alamos, New Mexico, as a cohort-eligible Los Alamos worker (as defined in paragraph (18)) for work carried out under contract to the Department of Energy, and, during such employment— (i) was monitored through the use of— (I) dosimetry badges for exposure at the plant of the external parts of employee's body to radiation; or (II) biossays, in vivo monitoring, or breath samples for exposure at the plant to internal radiation; or (ii) worked in a job that had exposures comparable to a job that is monitored, or should have been monitored, under standards of the Department of Energy in effect on the date of the enactment of this subparagraph through the use of dosimetry badges for monitoring external radiation exposures, or bioassays or in vivo monitoring for internal radiation exposures..", "id": "H8D42941595634867BBA3FAC8D8623260", "header": "In general", "nested": [], "links": [ { "text": "42 U.S.C. 7384l(14)", "legal-doc": "usc", "parsable-cite": "usc/42/7384l" } ] }, { "text": "(b) Cohort-eligible Los Alamos workers \nSection 3621 of such Act is further amended by adding at the end the following new paragraph: (18) The term cohort-eligible Los Alamos worker applies to employment— (A) in Area G or at the linear accelerator; (B) as a security guard or construction worker; or (C) in any area of Los Alamos National Laboratory and in any capacity, if all records necessary for radiation dose reconstruction under this Act with respect to that employee have not been received by the National Institute for Occupational Safety and Health from the Department of Energy or its contractors within 200 days after receipt of the claim under this Act with respect to that employee..", "id": "H173D913AA07A46E4B3EF7214C5CB409B", "header": "Cohort-eligible Los Alamos workers", "nested": [], "links": [] } ], "links": [ { "text": "42 U.S.C. 7384l(14)", "legal-doc": "usc", "parsable-cite": "usc/42/7384l" } ] } ]

[ "Armed Forces and National Security", "Compensation (Law)", "Construction workers", "Crime and Law Enforcement", "Department of Energy", "Energy", "Environmental Protection", "Government Operations and Politics", "Government contractors", "Government liability", "Health", "Labor and Employment", "Laboratories", "New Mexico", "Nuclear weapons", "Occupational health and safety", "Private police", "Radiation", "Radiation victims", "Science, Technology, Communications" ]

[ { "text": "1. Suspension of duty on Cobaltate(1-), bis[3-[[1-(3-chlorophenyl)-4,5-dihydro-3-methyl-5-(oxo- kO)-1H-pyrazol-4-yl]azo-kN1]-4-(hydroxy- kO)benzenesulfonamidato(2-)]-, sodium \n(a) In general \nSubchapter II of chapter 99 of the Harmonized Tariff Schedule of the United States is amended by inserting in numerical sequence the following: 9902.35.13 Cobaltate(1-), bis[3-[[1-(3-chlorophenyl)-4,5-dihydro-3-methyl-5-(oxo- kO)-1H-pyrazol-4-yl]azo-kN1]-4-(hydroxy- kO)benzenesulfonamidato(2-)]-, sodium (CAS No. 73612-40-5) (provided for in subheading 3204.12.45) Free No Change No Change On or Before 12/31/2007. (b) Effective date \nThe amendment made by subsection (a) applies to articles entered, or withdrawn from warehouse for consumption, on or after the 15th day after the date of the enactment of this Act.", "id": "H3D1CBCCA8820484AA26B3F5F50F5D9B9", "header": "Suspension of duty on Cobaltate(1-), bis[3-[[1-(3-chlorophenyl)-4,5-dihydro-3-methyl-5-(oxo- kO)-1H-pyrazol-4-yl]azo-kN1]-4-(hydroxy- kO)benzenesulfonamidato(2-)]-, sodium", "nested": [ { "text": "(a) In general \nSubchapter II of chapter 99 of the Harmonized Tariff Schedule of the United States is amended by inserting in numerical sequence the following: 9902.35.13 Cobaltate(1-), bis[3-[[1-(3-chlorophenyl)-4,5-dihydro-3-methyl-5-(oxo- kO)-1H-pyrazol-4-yl]azo-kN1]-4-(hydroxy- kO)benzenesulfonamidato(2-)]-, sodium (CAS No. 73612-40-5) (provided for in subheading 3204.12.45) Free No Change No Change On or Before 12/31/2007.", "id": "H923F874C08584B60B114196C7835C159", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Effective date \nThe amendment made by subsection (a) applies to articles entered, or withdrawn from warehouse for consumption, on or after the 15th day after the date of the enactment of this Act.", "id": "H76078EF3115B4B68A8C3E7961D7726D5", "header": "Effective date", "nested": [], "links": [] } ], "links": [] } ]

[ "Commerce", "Dyes and dyeing", "Tariff" ]

[ { "text": "1. Short title; table of contents \n(a) Short title \nThis Act may be cited as the. (b) Table of contents \nSec. 1. Short title; table of contents Sec. 2. Findings and purposes Sec. 3. Fairness in broadcasting Sec. 4. Broadcasting ownership limitations Sec. 5. Invalidation of media ownership deregulation Sec. 6. Review process for media ownership Sec. 7. Public interest reports Sec. 8. Prevention of programming vertical integration", "id": "H881720A16FF6450DAC7CA9CB6C6D876", "header": "Short title; table of contents", "nested": [ { "text": "(a) Short title \nThis Act may be cited as the.", "id": "HF5249642A8EE4E6A87F8D385B4C320E7", "header": "Short title", "nested": [], "links": [] }, { "text": "(b) Table of contents \nSec. 1. Short title; table of contents Sec. 2. Findings and purposes Sec. 3. Fairness in broadcasting Sec. 4. Broadcasting ownership limitations Sec. 5. Invalidation of media ownership deregulation Sec. 6. Review process for media ownership Sec. 7. Public interest reports Sec. 8. Prevention of programming vertical integration", "id": "HA63F77754FA84E569079B3C5417BBFE8", "header": "Table of contents", "nested": [], "links": [] } ], "links": [] }, { "text": "2. Findings and purposes \n(a) Findings \nThe Congress finds the following: (1) The Communications Act of 1934 requires the Federal Communications Commission and broadcast licensees to promote the public interest. The Commission has long had rules in place to promote the goals of localism, diversity, and competition. (2) The Supreme Court, on numerous occasions, has upheld the Commission's and Congress's right to establish media protections because a monopolization of ideas is antithetical to our democracy. (3) In 1945, the Supreme Court declared, the widest possible dissemination of information from diverse and antagonistic sources is essential to the welfare of the public, that a free press is a condition of a free society. (4) In 1969, the Supreme Court declared, it is the purpose of the First Amendment to preserve an uninhibited marketplace of ideas in which truth will ultimately prevail, rather than to countenance monopolization of that market, whether it be by the Government itself or a private licensee. (5) Over the past two decades there has been a gradual shift of control in the public's airwaves into the hands of fewer private entities. (6) Private entities can exert control over the public's access to information as many of the rules designed to foster diversity, competition, localism, and production of independent news and entertainment have been weakened or repealed. (7) The past two decades have produced technological advances. Approximately 80 percent of U.S. households subscribe to cable or satellite systems offering multiple channels of video programming. The rapid growth of the Internet added another source of information to traditional media outlets. Over 71 percent of Americans have some form of online access. (8) These advances have dramatically increased the number of information pipelines into Americans' homes. Despite the increase in information outlets, ownership and control of those is shrinking. A handful of companies control a large portion of both programming and distribution. Five companies now own the broadcast networks, 90 percent of the top 50 cable networks, produce three-quarters of all prime time programming, and control 70 percent of the prime time television market share. The same companies that own the nation's most popular newspapers and networks also own over 85 percent of the top 20 Internet news sites. (9) While the Internet has become a new source of information, the vast majority of Americans continue to rely on television, newspaper, and radio as their primary sources of news information. Ownership of traditional news sources has been consolidated over the past 25 years. Two-thirds of America’s independent newspapers have been lost since 1975 and according to the Department of Justice's Merger Guidelines every local newspaper market in the U.S. is highly concentrated. (10) One-third of America's independent TV stations have vanished since 1975 and there has been a 34 percent decline in the number of radio station owners since the Telecommunications Act of 1996. There has been a severe decline in the number of minority owned broadcast stations. At the end of the 1990’s, minorities owned just 1.9 percent of the U.S. television stations and 4 percent of the nation's AM and FM radio stations. (11) As the major networks have been allowed greater vertical integration, the percentage of independently produced pilots and new series on the four national broadcast networks has declined from 87.5 percent in 1990 to 22.5 percent in 2002. (12) The media ownership rules adopted by the FCC on June 2, 2003 as part of its 2002 Biennial Regulatory Review will allow further consolidation of the media industry. Under the June 2, 2003, ruling— (A) in the largest metropolitan areas one company is allowed to own three television stations, eight radio stations, the daily newspaper, even if it is the only daily newspaper, the cable system, the all-news channel on that cable system, and the Internet news sites associated with each of those enterprises; (B) networks are able to purchase additional TV stations, further nationalizing broadcast TV and limiting local communities' ability to influence what programming it will see; (C) over 80 percent of U.S. markets where TV mergers are permitted will qualify as highly concentrated, according to the anti-trust market definitions contained in the Department of Justice's merger guidelines; (D) the cross-media ownership that is permitted would reduce the number of independent daily news sources in many markets to a level 20 times above the threshold used by the Department of Justice to trigger antitrust investigations in other industries; and (E) in one-newspaper towns and cities, the new cross-media ownership regulations would permit one company to have a 90 percent market share of the newspaper circulation, one-third of the TV audience, and one-third of the radio audience. (13) The weakening of media protections, and subsequent consolidation of the media industry, has allowed companies to ignore their obligations to serve the public interest and severely reduce localism, diversity, and competition in today's media. (14) The current state of today's media threatens the ability of our democracy to function because it does not allow for the widest possible dissemination of information from diverse and antagonistic sources and shrinks the marketplace of ideas. (b) Purposes \nThe purposes of this Act are— (1) to inform the public of the scope of media rules and regulations that have been weakened and lost over the past two decades; (2) to restore fairness in broadcasting; (3) to reduce media concentration; (4) to ensure that broadcasters meet their public interest requirements; and (5) to promote diversity, localism, and competition in American media", "id": "H3580F62A8D814F9089A41E2900775BFD", "header": "Findings and purposes", "nested": [ { "text": "(a) Findings \nThe Congress finds the following: (1) The Communications Act of 1934 requires the Federal Communications Commission and broadcast licensees to promote the public interest. The Commission has long had rules in place to promote the goals of localism, diversity, and competition. (2) The Supreme Court, on numerous occasions, has upheld the Commission's and Congress's right to establish media protections because a monopolization of ideas is antithetical to our democracy. (3) In 1945, the Supreme Court declared, the widest possible dissemination of information from diverse and antagonistic sources is essential to the welfare of the public, that a free press is a condition of a free society. (4) In 1969, the Supreme Court declared, it is the purpose of the First Amendment to preserve an uninhibited marketplace of ideas in which truth will ultimately prevail, rather than to countenance monopolization of that market, whether it be by the Government itself or a private licensee. (5) Over the past two decades there has been a gradual shift of control in the public's airwaves into the hands of fewer private entities. (6) Private entities can exert control over the public's access to information as many of the rules designed to foster diversity, competition, localism, and production of independent news and entertainment have been weakened or repealed. (7) The past two decades have produced technological advances. Approximately 80 percent of U.S. households subscribe to cable or satellite systems offering multiple channels of video programming. The rapid growth of the Internet added another source of information to traditional media outlets. Over 71 percent of Americans have some form of online access. (8) These advances have dramatically increased the number of information pipelines into Americans' homes. Despite the increase in information outlets, ownership and control of those is shrinking. A handful of companies control a large portion of both programming and distribution. Five companies now own the broadcast networks, 90 percent of the top 50 cable networks, produce three-quarters of all prime time programming, and control 70 percent of the prime time television market share. The same companies that own the nation's most popular newspapers and networks also own over 85 percent of the top 20 Internet news sites. (9) While the Internet has become a new source of information, the vast majority of Americans continue to rely on television, newspaper, and radio as their primary sources of news information. Ownership of traditional news sources has been consolidated over the past 25 years. Two-thirds of America’s independent newspapers have been lost since 1975 and according to the Department of Justice's Merger Guidelines every local newspaper market in the U.S. is highly concentrated. (10) One-third of America's independent TV stations have vanished since 1975 and there has been a 34 percent decline in the number of radio station owners since the Telecommunications Act of 1996. There has been a severe decline in the number of minority owned broadcast stations. At the end of the 1990’s, minorities owned just 1.9 percent of the U.S. television stations and 4 percent of the nation's AM and FM radio stations. (11) As the major networks have been allowed greater vertical integration, the percentage of independently produced pilots and new series on the four national broadcast networks has declined from 87.5 percent in 1990 to 22.5 percent in 2002. (12) The media ownership rules adopted by the FCC on June 2, 2003 as part of its 2002 Biennial Regulatory Review will allow further consolidation of the media industry. Under the June 2, 2003, ruling— (A) in the largest metropolitan areas one company is allowed to own three television stations, eight radio stations, the daily newspaper, even if it is the only daily newspaper, the cable system, the all-news channel on that cable system, and the Internet news sites associated with each of those enterprises; (B) networks are able to purchase additional TV stations, further nationalizing broadcast TV and limiting local communities' ability to influence what programming it will see; (C) over 80 percent of U.S. markets where TV mergers are permitted will qualify as highly concentrated, according to the anti-trust market definitions contained in the Department of Justice's merger guidelines; (D) the cross-media ownership that is permitted would reduce the number of independent daily news sources in many markets to a level 20 times above the threshold used by the Department of Justice to trigger antitrust investigations in other industries; and (E) in one-newspaper towns and cities, the new cross-media ownership regulations would permit one company to have a 90 percent market share of the newspaper circulation, one-third of the TV audience, and one-third of the radio audience. (13) The weakening of media protections, and subsequent consolidation of the media industry, has allowed companies to ignore their obligations to serve the public interest and severely reduce localism, diversity, and competition in today's media. (14) The current state of today's media threatens the ability of our democracy to function because it does not allow for the widest possible dissemination of information from diverse and antagonistic sources and shrinks the marketplace of ideas.", "id": "HBF509DCA2BE74F1E84B154B4BB2DFC2F", "header": "Findings", "nested": [], "links": [] }, { "text": "(b) Purposes \nThe purposes of this Act are— (1) to inform the public of the scope of media rules and regulations that have been weakened and lost over the past two decades; (2) to restore fairness in broadcasting; (3) to reduce media concentration; (4) to ensure that broadcasters meet their public interest requirements; and (5) to promote diversity, localism, and competition in American media", "id": "H277067D63DB447D9B5473CCF38FCD2C", "header": "Purposes", "nested": [], "links": [] } ], "links": [] }, { "text": "3. Fairness in broadcasting \nSection 315 of the Communications Act of 1934 ( 47 U.S.C. 315 ) is amended— (1) by redesignating subsections (a) through (d) as subsections (b) through (e), respectively; and (2) by inserting before subsection (b) the following new subsection: (a) Public interest obligation to cover publicly important issues \nA broadcast licensee shall afford reasonable opportunity for the discussion of conflicting views on issues of public importance. The enforcement and application of the requirement imposed by this subsection shall be consistent with the rules and policies of the Commission in effect on January 1, 1987..", "id": "H494F557A66FD44EC9C61E002168F29AD", "header": "Fairness in broadcasting", "nested": [], "links": [ { "text": "47 U.S.C. 315", "legal-doc": "usc", "parsable-cite": "usc/47/315" } ] }, { "text": "4. Broadcasting ownership limitations \n(a) Establishment of broadcasting multiple ownership limitations \nPart I of title III of the Communications Act of 1934 is amended by inserting after section 339 ( 47 U.S.C. 339 ) the following new section: 340. Broadcasting multiple ownership limitations \n(a) National television audience reach limitation \nThe Commission shall not permit any license for a commercial television broadcast station to be granted, transferred, or assigned to any party (including all parties under common control) if the grant, transfer, or assignment of such license would result in such party or any of its stockholders, partners, or members, officers, or directors, directly or indirectly, owning, operating or controlling, or having a cognizable interest in television stations which have an aggregate national audience reach exceeding 35 percent. (b) Radio ownership limitations \n(1) National radio ownership limitations \nThe Commission shall modify section 73.3555 of its regulations (47 C.F.R. 73.3555) to establish provisions limiting the number of AM or FM broadcast stations which may be owned or controlled by one entity nationally. Such limitation shall not exceed 5 percent of the total number of AM and FM broadcast stations. (2) Local radio ownership limitations \nThe Commission shall revise section 73.3555(a) of its regulations (47 C.F.R. 73.3555) to provide that— (A) in a radio market with 45 or more commercial radio stations, a party may own, operate, or control up to 6 commercial radio stations, not more than 4 of which are in the same service (AM or FM); (B) in a radio market with between 30 and 44 (inclusive) commercial radio stations, a party may own, operate, or control up to 5 commercial radio stations, not more than 3 of which are in the same service (AM or FM); (C) in a radio market with between 15 and 29 (inclusive) commercial radio stations, a party may own, operate, or control up to 4 commercial radio stations, not more than 2 of which are in the same service (AM or FM), except that a party may not own, operate, or control more than 25 percent of the stations in such market; and (D) in a radio market with 14 or fewer commercial radio stations, a party may own, operate, or control up to 3 commercial radio stations, not more than 2 of which are in the same service (AM or FM), except that a party may not own, operate, or control more than 40 percent of the stations in such market. (c) Cable/Broadcasting ownership restrictions \nThe Commission shall not permit any license for a commercial television broadcast station to be granted, transferred, or assigned to any party (including all parties under common control) if the grant, transfer, or assignment of such license would result in such party or any of its stockholders, partners, or members, officers, or directors, directly or indirectly, owning, operating or controlling, or having a cognizable interest in such station and directly or indirectly owning or controlling a cable television system whose service area overlaps in whole or in part with such television broadcast station's predicted Grade B contour, computed in accordance with section 73.684 of the Commission's regulations (47 C.F.R. 73.684). (d) No grandfathering \nThe Commission shall require any party (including all parties under common control) that holds licenses for commercial broadcast stations in excess of the limitations contained in subsection (a), (b), or (c) to divest itself of such licenses as may be necessary to come into compliance with such limitation within one year after the date of enactment of this section. (e) Section not subject to forbearance \nSection 10 of this Act shall not apply to the requirements of this section. (f) Definitions \n(1) National audience reach \nThe term national audience reach means— (A) the total number of television households in the Nielsen Designated Market Area (DMA) markets in which the relevant stations are located, or as determined under a successor measure adopted by the Commission to delineate television markets for purposes of this section; divided by (B) the total national television households as measured by such DMA data (or such successor measure) at the time of a grant, transfer, or assignment of a license. No market shall be counted more than once in making this calculation. The Commission shall not provide any discount in the measurement of national audience reach for UHF stations, or on the basis of any other class or category of television station. (2) Cognizable interest \nExcept as may otherwise be provided by regulation by the Commission, the term cognizable interest means any partnership or direct ownership interest and any voting stock interest amounting to 5 percent or more of the outstanding voting stock of a licensee.. (b) Conforming amendments \n(1) Section 629 of the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 2004, is repealed. Subject to the amendments made by this subsection, section 202 of the Telecommunications Act of 1996 shall be applied as if such section 629 had not been enacted. This paragraph shall be effective as if enacted on the day after the date of enactment of Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 2004. (2) Subsections (a) and (b) of section 202 of the Telecommunications Act of 1996 ( Public Law 104–104 ; 110 Stat. 110) are repealed (3) Section 202(c)(1) of such Act is amended— (A) by striking its regulations and all that follows through by eliminating and inserting its regulations (47 C.F.R. 73.3555) by eliminating ; (B) by striking ; and at the end of subparagraph (A) and inserting a period; and (C) by striking subparagraph (B).", "id": "HBBE0ADA9FD0F47B7A8DD2D4BE983271", "header": "Broadcasting ownership limitations", "nested": [ { "text": "(a) Establishment of broadcasting multiple ownership limitations \nPart I of title III of the Communications Act of 1934 is amended by inserting after section 339 ( 47 U.S.C. 339 ) the following new section: 340. Broadcasting multiple ownership limitations \n(a) National television audience reach limitation \nThe Commission shall not permit any license for a commercial television broadcast station to be granted, transferred, or assigned to any party (including all parties under common control) if the grant, transfer, or assignment of such license would result in such party or any of its stockholders, partners, or members, officers, or directors, directly or indirectly, owning, operating or controlling, or having a cognizable interest in television stations which have an aggregate national audience reach exceeding 35 percent. (b) Radio ownership limitations \n(1) National radio ownership limitations \nThe Commission shall modify section 73.3555 of its regulations (47 C.F.R. 73.3555) to establish provisions limiting the number of AM or FM broadcast stations which may be owned or controlled by one entity nationally. Such limitation shall not exceed 5 percent of the total number of AM and FM broadcast stations. (2) Local radio ownership limitations \nThe Commission shall revise section 73.3555(a) of its regulations (47 C.F.R. 73.3555) to provide that— (A) in a radio market with 45 or more commercial radio stations, a party may own, operate, or control up to 6 commercial radio stations, not more than 4 of which are in the same service (AM or FM); (B) in a radio market with between 30 and 44 (inclusive) commercial radio stations, a party may own, operate, or control up to 5 commercial radio stations, not more than 3 of which are in the same service (AM or FM); (C) in a radio market with between 15 and 29 (inclusive) commercial radio stations, a party may own, operate, or control up to 4 commercial radio stations, not more than 2 of which are in the same service (AM or FM), except that a party may not own, operate, or control more than 25 percent of the stations in such market; and (D) in a radio market with 14 or fewer commercial radio stations, a party may own, operate, or control up to 3 commercial radio stations, not more than 2 of which are in the same service (AM or FM), except that a party may not own, operate, or control more than 40 percent of the stations in such market. (c) Cable/Broadcasting ownership restrictions \nThe Commission shall not permit any license for a commercial television broadcast station to be granted, transferred, or assigned to any party (including all parties under common control) if the grant, transfer, or assignment of such license would result in such party or any of its stockholders, partners, or members, officers, or directors, directly or indirectly, owning, operating or controlling, or having a cognizable interest in such station and directly or indirectly owning or controlling a cable television system whose service area overlaps in whole or in part with such television broadcast station's predicted Grade B contour, computed in accordance with section 73.684 of the Commission's regulations (47 C.F.R. 73.684). (d) No grandfathering \nThe Commission shall require any party (including all parties under common control) that holds licenses for commercial broadcast stations in excess of the limitations contained in subsection (a), (b), or (c) to divest itself of such licenses as may be necessary to come into compliance with such limitation within one year after the date of enactment of this section. (e) Section not subject to forbearance \nSection 10 of this Act shall not apply to the requirements of this section. (f) Definitions \n(1) National audience reach \nThe term national audience reach means— (A) the total number of television households in the Nielsen Designated Market Area (DMA) markets in which the relevant stations are located, or as determined under a successor measure adopted by the Commission to delineate television markets for purposes of this section; divided by (B) the total national television households as measured by such DMA data (or such successor measure) at the time of a grant, transfer, or assignment of a license. No market shall be counted more than once in making this calculation. The Commission shall not provide any discount in the measurement of national audience reach for UHF stations, or on the basis of any other class or category of television station. (2) Cognizable interest \nExcept as may otherwise be provided by regulation by the Commission, the term cognizable interest means any partnership or direct ownership interest and any voting stock interest amounting to 5 percent or more of the outstanding voting stock of a licensee..", "id": "H5A9A092EC2F24B098417822903EC25C1", "header": "Establishment of broadcasting multiple ownership limitations", "nested": [], "links": [ { "text": "47 U.S.C. 339", "legal-doc": "usc", "parsable-cite": "usc/47/339" } ] }, { "text": "(b) Conforming amendments \n(1) Section 629 of the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 2004, is repealed. Subject to the amendments made by this subsection, section 202 of the Telecommunications Act of 1996 shall be applied as if such section 629 had not been enacted. This paragraph shall be effective as if enacted on the day after the date of enactment of Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 2004. (2) Subsections (a) and (b) of section 202 of the Telecommunications Act of 1996 ( Public Law 104–104 ; 110 Stat. 110) are repealed (3) Section 202(c)(1) of such Act is amended— (A) by striking its regulations and all that follows through by eliminating and inserting its regulations (47 C.F.R. 73.3555) by eliminating ; (B) by striking ; and at the end of subparagraph (A) and inserting a period; and (C) by striking subparagraph (B).", "id": "H1EFD5E69F0A84ED3B725AFD54246EFE6", "header": "Conforming amendments", "nested": [], "links": [ { "text": "Public Law 104–104", "legal-doc": "public-law", "parsable-cite": "pl/104/104" } ] } ], "links": [ { "text": "47 U.S.C. 339", "legal-doc": "usc", "parsable-cite": "usc/47/339" }, { "text": "Public Law 104–104", "legal-doc": "public-law", "parsable-cite": "pl/104/104" } ] }, { "text": "340. Broadcasting multiple ownership limitations \n(a) National television audience reach limitation \nThe Commission shall not permit any license for a commercial television broadcast station to be granted, transferred, or assigned to any party (including all parties under common control) if the grant, transfer, or assignment of such license would result in such party or any of its stockholders, partners, or members, officers, or directors, directly or indirectly, owning, operating or controlling, or having a cognizable interest in television stations which have an aggregate national audience reach exceeding 35 percent. (b) Radio ownership limitations \n(1) National radio ownership limitations \nThe Commission shall modify section 73.3555 of its regulations (47 C.F.R. 73.3555) to establish provisions limiting the number of AM or FM broadcast stations which may be owned or controlled by one entity nationally. Such limitation shall not exceed 5 percent of the total number of AM and FM broadcast stations. (2) Local radio ownership limitations \nThe Commission shall revise section 73.3555(a) of its regulations (47 C.F.R. 73.3555) to provide that— (A) in a radio market with 45 or more commercial radio stations, a party may own, operate, or control up to 6 commercial radio stations, not more than 4 of which are in the same service (AM or FM); (B) in a radio market with between 30 and 44 (inclusive) commercial radio stations, a party may own, operate, or control up to 5 commercial radio stations, not more than 3 of which are in the same service (AM or FM); (C) in a radio market with between 15 and 29 (inclusive) commercial radio stations, a party may own, operate, or control up to 4 commercial radio stations, not more than 2 of which are in the same service (AM or FM), except that a party may not own, operate, or control more than 25 percent of the stations in such market; and (D) in a radio market with 14 or fewer commercial radio stations, a party may own, operate, or control up to 3 commercial radio stations, not more than 2 of which are in the same service (AM or FM), except that a party may not own, operate, or control more than 40 percent of the stations in such market. (c) Cable/Broadcasting ownership restrictions \nThe Commission shall not permit any license for a commercial television broadcast station to be granted, transferred, or assigned to any party (including all parties under common control) if the grant, transfer, or assignment of such license would result in such party or any of its stockholders, partners, or members, officers, or directors, directly or indirectly, owning, operating or controlling, or having a cognizable interest in such station and directly or indirectly owning or controlling a cable television system whose service area overlaps in whole or in part with such television broadcast station's predicted Grade B contour, computed in accordance with section 73.684 of the Commission's regulations (47 C.F.R. 73.684). (d) No grandfathering \nThe Commission shall require any party (including all parties under common control) that holds licenses for commercial broadcast stations in excess of the limitations contained in subsection (a), (b), or (c) to divest itself of such licenses as may be necessary to come into compliance with such limitation within one year after the date of enactment of this section. (e) Section not subject to forbearance \nSection 10 of this Act shall not apply to the requirements of this section. (f) Definitions \n(1) National audience reach \nThe term national audience reach means— (A) the total number of television households in the Nielsen Designated Market Area (DMA) markets in which the relevant stations are located, or as determined under a successor measure adopted by the Commission to delineate television markets for purposes of this section; divided by (B) the total national television households as measured by such DMA data (or such successor measure) at the time of a grant, transfer, or assignment of a license. No market shall be counted more than once in making this calculation. The Commission shall not provide any discount in the measurement of national audience reach for UHF stations, or on the basis of any other class or category of television station. (2) Cognizable interest \nExcept as may otherwise be provided by regulation by the Commission, the term cognizable interest means any partnership or direct ownership interest and any voting stock interest amounting to 5 percent or more of the outstanding voting stock of a licensee.", "id": "HCBB8558E4D9B40E59800A098F9E3480", "header": "Broadcasting multiple ownership limitations", "nested": [ { "text": "(a) National television audience reach limitation \nThe Commission shall not permit any license for a commercial television broadcast station to be granted, transferred, or assigned to any party (including all parties under common control) if the grant, transfer, or assignment of such license would result in such party or any of its stockholders, partners, or members, officers, or directors, directly or indirectly, owning, operating or controlling, or having a cognizable interest in television stations which have an aggregate national audience reach exceeding 35 percent.", "id": "H125442A84FAD441BB9458D8881568E07", "header": "National television audience reach limitation", "nested": [], "links": [] }, { "text": "(b) Radio ownership limitations \n(1) National radio ownership limitations \nThe Commission shall modify section 73.3555 of its regulations (47 C.F.R. 73.3555) to establish provisions limiting the number of AM or FM broadcast stations which may be owned or controlled by one entity nationally. Such limitation shall not exceed 5 percent of the total number of AM and FM broadcast stations. (2) Local radio ownership limitations \nThe Commission shall revise section 73.3555(a) of its regulations (47 C.F.R. 73.3555) to provide that— (A) in a radio market with 45 or more commercial radio stations, a party may own, operate, or control up to 6 commercial radio stations, not more than 4 of which are in the same service (AM or FM); (B) in a radio market with between 30 and 44 (inclusive) commercial radio stations, a party may own, operate, or control up to 5 commercial radio stations, not more than 3 of which are in the same service (AM or FM); (C) in a radio market with between 15 and 29 (inclusive) commercial radio stations, a party may own, operate, or control up to 4 commercial radio stations, not more than 2 of which are in the same service (AM or FM), except that a party may not own, operate, or control more than 25 percent of the stations in such market; and (D) in a radio market with 14 or fewer commercial radio stations, a party may own, operate, or control up to 3 commercial radio stations, not more than 2 of which are in the same service (AM or FM), except that a party may not own, operate, or control more than 40 percent of the stations in such market.", "id": "H97877835ACDC48668DD18FBB88A4B495", "header": "Radio ownership limitations", "nested": [], "links": [] }, { "text": "(c) Cable/Broadcasting ownership restrictions \nThe Commission shall not permit any license for a commercial television broadcast station to be granted, transferred, or assigned to any party (including all parties under common control) if the grant, transfer, or assignment of such license would result in such party or any of its stockholders, partners, or members, officers, or directors, directly or indirectly, owning, operating or controlling, or having a cognizable interest in such station and directly or indirectly owning or controlling a cable television system whose service area overlaps in whole or in part with such television broadcast station's predicted Grade B contour, computed in accordance with section 73.684 of the Commission's regulations (47 C.F.R. 73.684).", "id": "H6F396BD1CAB54864A300005786302800", "header": "Cable/Broadcasting ownership restrictions", "nested": [], "links": [] }, { "text": "(d) No grandfathering \nThe Commission shall require any party (including all parties under common control) that holds licenses for commercial broadcast stations in excess of the limitations contained in subsection (a), (b), or (c) to divest itself of such licenses as may be necessary to come into compliance with such limitation within one year after the date of enactment of this section.", "id": "H2D5AA6B0BFDA4300A5AD661E1C7D83F7", "header": "No grandfathering", "nested": [], "links": [] }, { "text": "(e) Section not subject to forbearance \nSection 10 of this Act shall not apply to the requirements of this section.", "id": "H2F4481D40AF9467694B4959B1808BE4", "header": "Section not subject to forbearance", "nested": [], "links": [] }, { "text": "(f) Definitions \n(1) National audience reach \nThe term national audience reach means— (A) the total number of television households in the Nielsen Designated Market Area (DMA) markets in which the relevant stations are located, or as determined under a successor measure adopted by the Commission to delineate television markets for purposes of this section; divided by (B) the total national television households as measured by such DMA data (or such successor measure) at the time of a grant, transfer, or assignment of a license. No market shall be counted more than once in making this calculation. The Commission shall not provide any discount in the measurement of national audience reach for UHF stations, or on the basis of any other class or category of television station. (2) Cognizable interest \nExcept as may otherwise be provided by regulation by the Commission, the term cognizable interest means any partnership or direct ownership interest and any voting stock interest amounting to 5 percent or more of the outstanding voting stock of a licensee.", "id": "HBBC9C45B053446769243E46032A15BF8", "header": "Definitions", "nested": [], "links": [] } ], "links": [] }, { "text": "5. Invalidation of media ownership deregulation \n(a) Definition \nFor purposes of this section, the term media ownership proceeding means the Federal Communications Commission proceeding on broadcast media ownership rules (MB Docket No. 02–277, MM Docket No. 01–235, MM Docket No. 01–317, and MM Docket No. 00–244). (b) New rules invalidated \nExcept as provided in subsection (d), the final rules adopted by the Federal Communications Commission pursuant to its media ownership proceeding, and announced by the Commission on June 2, 2003, shall be invalid and without legal effect. (c) Reinstatement of previous rules \nExcept as provided in subsection (d), any rule of the Federal Communications Commission that was in effect on June 1, 2003, and that was amended, repealed, or otherwise modified by the Commission pursuant to the media ownership proceeding is hereby reinstated as it was in effect on June 1, 2003. Any such rule shall be applied and enforced both prospectively after the date of enactment of this Act and retroactively to June 2, 2003, as if the media ownership proceeding had not occurred. (d) Exception \nThis section shall not apply to the limitations required by section 340 of the Communications Act of 1934, as added by section 4 of this Act. (e) Use of biennial review prohibited \nThe Federal Communications Commission shall not apply section 202(h) of the Telecommunications Act of 1996 or section 11(b) of the Communications Act of 1934 ( 47 U.S.C. 161(b) ) to any review of broadcast media ownership rules after the date of enactment of this Act.", "id": "H6DC1E1454C69400ABDD3CF8B44A76819", "header": "Invalidation of media ownership deregulation", "nested": [ { "text": "(a) Definition \nFor purposes of this section, the term media ownership proceeding means the Federal Communications Commission proceeding on broadcast media ownership rules (MB Docket No. 02–277, MM Docket No. 01–235, MM Docket No. 01–317, and MM Docket No. 00–244).", "id": "H8CD3BCB317A647119B48686FD91F1674", "header": "Definition", "nested": [], "links": [] }, { "text": "(b) New rules invalidated \nExcept as provided in subsection (d), the final rules adopted by the Federal Communications Commission pursuant to its media ownership proceeding, and announced by the Commission on June 2, 2003, shall be invalid and without legal effect.", "id": "H76A609ED9E20475E857924A313C5DA9E", "header": "New rules invalidated", "nested": [], "links": [] }, { "text": "(c) Reinstatement of previous rules \nExcept as provided in subsection (d), any rule of the Federal Communications Commission that was in effect on June 1, 2003, and that was amended, repealed, or otherwise modified by the Commission pursuant to the media ownership proceeding is hereby reinstated as it was in effect on June 1, 2003. Any such rule shall be applied and enforced both prospectively after the date of enactment of this Act and retroactively to June 2, 2003, as if the media ownership proceeding had not occurred.", "id": "H89E3FD141DE440AB94C33FBB8D045CA7", "header": "Reinstatement of previous rules", "nested": [], "links": [] }, { "text": "(d) Exception \nThis section shall not apply to the limitations required by section 340 of the Communications Act of 1934, as added by section 4 of this Act.", "id": "H9A6D0416536548F8A8C6E92EFB1CBB41", "header": "Exception", "nested": [], "links": [] }, { "text": "(e) Use of biennial review prohibited \nThe Federal Communications Commission shall not apply section 202(h) of the Telecommunications Act of 1996 or section 11(b) of the Communications Act of 1934 ( 47 U.S.C. 161(b) ) to any review of broadcast media ownership rules after the date of enactment of this Act.", "id": "H5998BBA7B07949C29B9984BF77C4A714", "header": "Use of biennial review prohibited", "nested": [], "links": [ { "text": "47 U.S.C. 161(b)", "legal-doc": "usc", "parsable-cite": "usc/47/161" } ] } ], "links": [ { "text": "47 U.S.C. 161(b)", "legal-doc": "usc", "parsable-cite": "usc/47/161" } ] }, { "text": "6. Review process for media ownership \n(a) Five-year review process \nThe Commission shall, once each 5 years beginning in 2006, conduct a review of— (1) how the Commission’s regulations concerning media ownership promote and protect localism, competition, diversity of voices in the media, diversity in broadcast ownership, children's programming, small and local broadcasters, technological advancement; and (2) what regulations should be strengthened, added, eliminated, or altered, consistent with the priorities described in paragraph (1). (b) Report to Congress \nThe Commission shall, promptly after the conclusion of each review under subsection (a), submit a report thereon to Congress. (c) Publication of final rules prior to comment; hearings \nBefore issuing any final rule concerning limitations on media ownership, the Commission shall— (1) publish such rule in the Federal Register; (2) conduct not less than 5 public hearings in various regions of the country to afford the public a reasonable opportunity to comment on such rule; and (3) widely advertise the time and place of such hearings in advance.", "id": "H0AE7B76929D54F58B441E5C83C826FAB", "header": "Review process for media ownership", "nested": [ { "text": "(a) Five-year review process \nThe Commission shall, once each 5 years beginning in 2006, conduct a review of— (1) how the Commission’s regulations concerning media ownership promote and protect localism, competition, diversity of voices in the media, diversity in broadcast ownership, children's programming, small and local broadcasters, technological advancement; and (2) what regulations should be strengthened, added, eliminated, or altered, consistent with the priorities described in paragraph (1).", "id": "H6EE09FAE416748B2009FD4AFBDFA264C", "header": "Five-year review process", "nested": [], "links": [] }, { "text": "(b) Report to Congress \nThe Commission shall, promptly after the conclusion of each review under subsection (a), submit a report thereon to Congress.", "id": "H41D115EBC63B4E73AC3000449D4673C4", "header": "Report to Congress", "nested": [], "links": [] }, { "text": "(c) Publication of final rules prior to comment; hearings \nBefore issuing any final rule concerning limitations on media ownership, the Commission shall— (1) publish such rule in the Federal Register; (2) conduct not less than 5 public hearings in various regions of the country to afford the public a reasonable opportunity to comment on such rule; and (3) widely advertise the time and place of such hearings in advance.", "id": "HFA941ACED2F24255B695262587344183", "header": "Publication of final rules prior to comment; hearings", "nested": [], "links": [] } ], "links": [] }, { "text": "7. Public interest reports \nSection 309(k) of the Communications Act of 1934 ( 47 U.S.C. 309(k) ) is amended by adding at the end the following new paragraph: (5) Public interest service reports required \nFor the purposes of enabling the Commission to render the determinations required by paragraph (1)(A), each broadcast licensee, at least one every 2 years, shall submit to the Commission and publish, or otherwise make broadly available to the public at no cost, a report on how the broadcast station is meeting the requirement to serve the public interest. The information in such report shall include— (A) the broadcaster's attempts to ascertain and satisfy local community needs; (B) the broadcaster's use of public service announcements; (C) the level and variety of the broadcaster's children’s programming and the extent of the broadcaster's restraint from improper commercial advertising during children’s programming; and (D) the level and variety of the broadcaster's nonentertainment programming, particularly public affairs programming; and (E) the broadcaster's proposals for future programming..", "id": "H4E9622D9AD7F4927BAEA14AD017E00D0", "header": "Public interest reports", "nested": [], "links": [ { "text": "47 U.S.C. 309(k)", "legal-doc": "usc", "parsable-cite": "usc/47/309" } ] }, { "text": "8. Prevention of programming vertical integration \nPart I of title III of the Communications Act of 1934 is amended by inserting after section 340 (as added by section 3) the following new section: 341. Prevention of programming vertical integration \n(a) Limitations on vertical integration in the acquisition of programming \nThe Commission shall, in accordance with subsection (b), prescribe rules to prevent the persons controlling the distribution of video programming over network distribution systems from acquiring unreasonable proportions of such programming from subsidiaries or affiliates contrary to the public interest in the goals of diversity and competition in the media marketplace. (b) Minimum standards \nThe rules required by subsection (a) shall, at a minimum— (1) for any of the four largest national television networks, prohibit such network from distributing network produced programming over such network in an amount that exceeds, for any month, more than 60 percent of their primetime programming; (2) for any other national television network, other than a network described in paragraph (3), prohibit such network from distributing network produced programming over such network in an amount that exceeds, for any month, more than 70 percent of their primetime programming; (3) for a national television network that has been in operation for less than 3 years, prohibit such network from distributing network produced programming over such network in an amount that exceeds, for any month, more than 90 percent of their primetime programming; (4) for a cable network that is owned or controlled by a large cable operator or by a national television network, prohibit such network from distributing network produced programming over such networks in an amount that exceeds, for any month, more than 65 percent of their primetime programming; and (5) for any other cable networks, prohibit such network from distributing network produced programming over such network in an amount that exceeds, for any month, more than 75 percent of their primetime programming. (c) Definitions \nAs used in this section: (1) Network produced programming \nThe term network produced programming means programming that is owned or produced by an entity controlled by or affiliated with the same entity owning or controlling the network, or one over which the network has sole or joint creative control, acts as the distributor, or has a financial interest, but does not include programming that is owned or produced, or under the sole creative control, by an affiliated television broadcast station that is not owned or controlled by such network. (2) Primetime programming \nThe term primetime programming means programming broadcast during the hours of 8 p.m. to 11 p.m., Monday through Sunday, but does not include newscasts, sports programs, or telecasts of feature films. (3) Cable network \nThe term cable network means a cable channel that broadcasts video programming which is primarily intended for the direct receipt by a cable operator or a satellite operator for their retransmission to cable or satellite subscribers, but does not include a cable channel that reaches less than 16 million cable households. (4) Large cable operator \nThe term large cable operator means a cable operator, as such term is defined in section 602, that has 3,000,000 or more subscribers in the aggregate nationwide..", "id": "H1B8FC2320A0A44BB866F2BEB6D95C308", "header": "Prevention of programming vertical integration", "nested": [], "links": [] }, { "text": "341. Prevention of programming vertical integration \n(a) Limitations on vertical integration in the acquisition of programming \nThe Commission shall, in accordance with subsection (b), prescribe rules to prevent the persons controlling the distribution of video programming over network distribution systems from acquiring unreasonable proportions of such programming from subsidiaries or affiliates contrary to the public interest in the goals of diversity and competition in the media marketplace. (b) Minimum standards \nThe rules required by subsection (a) shall, at a minimum— (1) for any of the four largest national television networks, prohibit such network from distributing network produced programming over such network in an amount that exceeds, for any month, more than 60 percent of their primetime programming; (2) for any other national television network, other than a network described in paragraph (3), prohibit such network from distributing network produced programming over such network in an amount that exceeds, for any month, more than 70 percent of their primetime programming; (3) for a national television network that has been in operation for less than 3 years, prohibit such network from distributing network produced programming over such network in an amount that exceeds, for any month, more than 90 percent of their primetime programming; (4) for a cable network that is owned or controlled by a large cable operator or by a national television network, prohibit such network from distributing network produced programming over such networks in an amount that exceeds, for any month, more than 65 percent of their primetime programming; and (5) for any other cable networks, prohibit such network from distributing network produced programming over such network in an amount that exceeds, for any month, more than 75 percent of their primetime programming. (c) Definitions \nAs used in this section: (1) Network produced programming \nThe term network produced programming means programming that is owned or produced by an entity controlled by or affiliated with the same entity owning or controlling the network, or one over which the network has sole or joint creative control, acts as the distributor, or has a financial interest, but does not include programming that is owned or produced, or under the sole creative control, by an affiliated television broadcast station that is not owned or controlled by such network. (2) Primetime programming \nThe term primetime programming means programming broadcast during the hours of 8 p.m. to 11 p.m., Monday through Sunday, but does not include newscasts, sports programs, or telecasts of feature films. (3) Cable network \nThe term cable network means a cable channel that broadcasts video programming which is primarily intended for the direct receipt by a cable operator or a satellite operator for their retransmission to cable or satellite subscribers, but does not include a cable channel that reaches less than 16 million cable households. (4) Large cable operator \nThe term large cable operator means a cable operator, as such term is defined in section 602, that has 3,000,000 or more subscribers in the aggregate nationwide.", "id": "H378E843232504618AC109E841B65AB00", "header": "Prevention of programming vertical integration", "nested": [ { "text": "(a) Limitations on vertical integration in the acquisition of programming \nThe Commission shall, in accordance with subsection (b), prescribe rules to prevent the persons controlling the distribution of video programming over network distribution systems from acquiring unreasonable proportions of such programming from subsidiaries or affiliates contrary to the public interest in the goals of diversity and competition in the media marketplace.", "id": "H9746A3C7DEED4334BAEFC66B1E4CCC89", "header": "Limitations on vertical integration in the acquisition of programming", "nested": [], "links": [] }, { "text": "(b) Minimum standards \nThe rules required by subsection (a) shall, at a minimum— (1) for any of the four largest national television networks, prohibit such network from distributing network produced programming over such network in an amount that exceeds, for any month, more than 60 percent of their primetime programming; (2) for any other national television network, other than a network described in paragraph (3), prohibit such network from distributing network produced programming over such network in an amount that exceeds, for any month, more than 70 percent of their primetime programming; (3) for a national television network that has been in operation for less than 3 years, prohibit such network from distributing network produced programming over such network in an amount that exceeds, for any month, more than 90 percent of their primetime programming; (4) for a cable network that is owned or controlled by a large cable operator or by a national television network, prohibit such network from distributing network produced programming over such networks in an amount that exceeds, for any month, more than 65 percent of their primetime programming; and (5) for any other cable networks, prohibit such network from distributing network produced programming over such network in an amount that exceeds, for any month, more than 75 percent of their primetime programming.", "id": "H5774965591B94599B26675A3EC3984E", "header": "Minimum standards", "nested": [], "links": [] }, { "text": "(c) Definitions \nAs used in this section: (1) Network produced programming \nThe term network produced programming means programming that is owned or produced by an entity controlled by or affiliated with the same entity owning or controlling the network, or one over which the network has sole or joint creative control, acts as the distributor, or has a financial interest, but does not include programming that is owned or produced, or under the sole creative control, by an affiliated television broadcast station that is not owned or controlled by such network. (2) Primetime programming \nThe term primetime programming means programming broadcast during the hours of 8 p.m. to 11 p.m., Monday through Sunday, but does not include newscasts, sports programs, or telecasts of feature films. (3) Cable network \nThe term cable network means a cable channel that broadcasts video programming which is primarily intended for the direct receipt by a cable operator or a satellite operator for their retransmission to cable or satellite subscribers, but does not include a cable channel that reaches less than 16 million cable households. (4) Large cable operator \nThe term large cable operator means a cable operator, as such term is defined in section 602, that has 3,000,000 or more subscribers in the aggregate nationwide.", "id": "H6E83762549234FF09B7D50981800FD7", "header": "Definitions", "nested": [], "links": [] } ], "links": [] } ]

[ "Administrative procedure", "Advertising", "Affiliated corporations", "Cable television", "Commerce", "Competition", "Congress", "Congressional reporting requirements", "Corporate divestiture", "Deregulation", "Economic concentration", "Education", "Educational television", "Elementary and secondary education", "Fairness doctrine", "Families", "Federal Communications Commission", "Government Operations and Politics", "Government paperwork", "Higher education", "Independent regulatory commissions", "Law", "Licenses", "Minorities", "Minority business enterprises", "Public interest", "Public meetings", "Public service advertising", "Radio broadcasting", "Radio stations", "Regulatory impact statements", "Restrictive trade practices", "Small business", "Subsidiary corporations", "Technological innovations", "Television and children", "Television broadcasting", "Television industry", "Television programs", "Television stations" ]

[ { "text": "1. Short title \nThis Act may be cited as the.", "id": "H9086EF25C2374AC393A0009FC236726", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Army combat recognition ribbon \n(a) Requirement similar to that for Navy Combat Action Ribbon \n(1) Chapter 357 of title 10, United States Code, is amended by adding at the end the following new section: 3757. Combat recognition ribbon \n(a) Requirement \nThe Secretary of the Army shall establish a combat recognition ribbon to recognize participation by members of the Army in combat. The Secretary shall award the combat recognition ribbon to each member of the Army who meets the criteria for that ribbon based upon service performed after August 1, 1990. (b) Criteria for award \nThe Secretary shall establish the criteria for award of the combat recognition ribbon. To the maximum extent practicable, the criteria for the award of such ribbon shall be based upon, and be similar to, the criteria for award of the Navy Combat Action Ribbon, including any special criteria for service during a particular period of time or in a specific location. (c) Limitation \nThe combat recognition ribbon may not be awarded to a member of the Army with respect to the same period of service as service for which the member was awarded the Combat Infantryman Badge or the Combat Medic Badge.. (2) The table of sections at the beginning of such chapter is amended by adding at the end the following new item: 3757. Combat recognition ribbon. (b) Implementation for service before date of enactment \nThe Secretary of the Army shall establish procedures to provide for the implementation of section 3757 of title 10, United States Code, as added by subsection (a), with respect to service during the period beginning on August 1, 1990, and ending on the date of the enactment of this Act. Such procedures shall include a requirement for submission of an application for award of a ribbon under that section with respect to service before the date of the enactment of this Act and the furnishing of such information as the Secretary may specify. Such procedures shall be established not later than 180 days after the date of the enactment of this Act.", "id": "H180D7FC4E8B94A24006054CD3D75BCE0", "header": "Army combat recognition ribbon", "nested": [ { "text": "(a) Requirement similar to that for Navy Combat Action Ribbon \n(1) Chapter 357 of title 10, United States Code, is amended by adding at the end the following new section: 3757. Combat recognition ribbon \n(a) Requirement \nThe Secretary of the Army shall establish a combat recognition ribbon to recognize participation by members of the Army in combat. The Secretary shall award the combat recognition ribbon to each member of the Army who meets the criteria for that ribbon based upon service performed after August 1, 1990. (b) Criteria for award \nThe Secretary shall establish the criteria for award of the combat recognition ribbon. To the maximum extent practicable, the criteria for the award of such ribbon shall be based upon, and be similar to, the criteria for award of the Navy Combat Action Ribbon, including any special criteria for service during a particular period of time or in a specific location. (c) Limitation \nThe combat recognition ribbon may not be awarded to a member of the Army with respect to the same period of service as service for which the member was awarded the Combat Infantryman Badge or the Combat Medic Badge.. (2) The table of sections at the beginning of such chapter is amended by adding at the end the following new item: 3757. Combat recognition ribbon.", "id": "H1002B43CC48440CC94F4C959784FBA53", "header": "Requirement similar to that for Navy Combat Action Ribbon", "nested": [], "links": [ { "text": "Chapter 357", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/10/357" } ] }, { "text": "(b) Implementation for service before date of enactment \nThe Secretary of the Army shall establish procedures to provide for the implementation of section 3757 of title 10, United States Code, as added by subsection (a), with respect to service during the period beginning on August 1, 1990, and ending on the date of the enactment of this Act. Such procedures shall include a requirement for submission of an application for award of a ribbon under that section with respect to service before the date of the enactment of this Act and the furnishing of such information as the Secretary may specify. Such procedures shall be established not later than 180 days after the date of the enactment of this Act.", "id": "HCCA922A639C44FE286502FEF5724A26", "header": "Implementation for service before date of enactment", "nested": [], "links": [ { "text": "section 3757", "legal-doc": "usc", "parsable-cite": "usc/10/3757" } ] } ], "links": [ { "text": "Chapter 357", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/10/357" }, { "text": "section 3757", "legal-doc": "usc", "parsable-cite": "usc/10/3757" } ] }, { "text": "3757. Combat recognition ribbon \n(a) Requirement \nThe Secretary of the Army shall establish a combat recognition ribbon to recognize participation by members of the Army in combat. The Secretary shall award the combat recognition ribbon to each member of the Army who meets the criteria for that ribbon based upon service performed after August 1, 1990. (b) Criteria for award \nThe Secretary shall establish the criteria for award of the combat recognition ribbon. To the maximum extent practicable, the criteria for the award of such ribbon shall be based upon, and be similar to, the criteria for award of the Navy Combat Action Ribbon, including any special criteria for service during a particular period of time or in a specific location. (c) Limitation \nThe combat recognition ribbon may not be awarded to a member of the Army with respect to the same period of service as service for which the member was awarded the Combat Infantryman Badge or the Combat Medic Badge.", "id": "H61407996C3814295BF6BCE66B74FE2B2", "header": "Combat recognition ribbon", "nested": [ { "text": "(a) Requirement \nThe Secretary of the Army shall establish a combat recognition ribbon to recognize participation by members of the Army in combat. The Secretary shall award the combat recognition ribbon to each member of the Army who meets the criteria for that ribbon based upon service performed after August 1, 1990.", "id": "H0400575C8F54463B9CE44E18A89913CE", "header": "Requirement", "nested": [], "links": [] }, { "text": "(b) Criteria for award \nThe Secretary shall establish the criteria for award of the combat recognition ribbon. To the maximum extent practicable, the criteria for the award of such ribbon shall be based upon, and be similar to, the criteria for award of the Navy Combat Action Ribbon, including any special criteria for service during a particular period of time or in a specific location.", "id": "HED29AE8C6AF2429D938C467C57FEBB03", "header": "Criteria for award", "nested": [], "links": [] }, { "text": "(c) Limitation \nThe combat recognition ribbon may not be awarded to a member of the Army with respect to the same period of service as service for which the member was awarded the Combat Infantryman Badge or the Combat Medic Badge.", "id": "HB378FF48B6B0425FB400B69B09003B27", "header": "Limitation", "nested": [], "links": [] } ], "links": [] } ]

[ "Army", "Commemorations", "Military medals, decorations, etc." ]

[ { "text": "1. Short title \nThis Act may be cited as the.", "id": "H58D52F0C3343497193F7B48D2DC9376", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Penalty of death for kingpins of child sex slave trafficking enterprises \nSection 1591 of title 18, United States Code, is amended— (1) by redesignating subsection (c) as subsection (d); (2) by inserting after subsection (b) the following: (c) Whoever acts as a child sex trafficking kingpin shall be subject to the penalty of death, or imprisoned for life if that penalty is not imposed. ; and (3) in subsection (d) (as so redesignated by paragraph (1)), by adding at the end the following: (4) The term child sex trafficking kingpin means a person who violates subsection (a), if the violation is a part of a continuing series of violations of that subsection— (A) which are undertaken by that person in concert with 5 or more other persons with respect to whom that person occupies a position of organizer, a supervisory position, or any other position of management; and (B) from which that person obtains substantial income or resources..", "id": "H016BDFA0EFE24AD38837D62532A4F66E", "header": "Penalty of death for kingpins of child sex slave trafficking enterprises", "nested": [], "links": [ { "text": "Section 1591", "legal-doc": "usc", "parsable-cite": "usc/18/1591" } ] } ]

[ "Capital punishment", "Child labor", "Child sexual abuse", "Civil Rights and Liberties, Minority Issues", "Families", "Forced labor", "Labor and Employment", "Life imprisonment", "Organized crime", "Prostitution", "Sentences (Criminal procedure)", "Sex offenders", "Slavery" ]

[ { "text": "1. Suspension of duty on Foron Blue S-BGL granules \n(a) In General \nSubchapter II of chapter 99 of the Harmonized Tariff Schedule of the United States is amended by inserting in numerical sequence the following new heading: 9902.35.06 Foron Blue S-BGL granules (anthraquinone dye) (CAS No. 31529-83-6) (provided for in subheading 3204.11.10 Free No change No change On or before 12/31/2008 (b) Effective Date \nThe amendment made by subsection (a) applies to articles entered, or withdrawn from warehouse for consumption, on or after the 15th day after the date of the enactment of this Act.", "id": "HAAC59D28E0D241F28B70FBB27BEC2D00", "header": "Suspension of duty on Foron Blue S-BGL granules", "nested": [ { "text": "(a) In General \nSubchapter II of chapter 99 of the Harmonized Tariff Schedule of the United States is amended by inserting in numerical sequence the following new heading: 9902.35.06 Foron Blue S-BGL granules (anthraquinone dye) (CAS No. 31529-83-6) (provided for in subheading 3204.11.10 Free No change No change On or before 12/31/2008", "id": "HE9502ED108734CDAAECBA9D4D563900", "header": "In General", "nested": [], "links": [] }, { "text": "(b) Effective Date \nThe amendment made by subsection (a) applies to articles entered, or withdrawn from warehouse for consumption, on or after the 15th day after the date of the enactment of this Act.", "id": "HDF144929110142560089EEE6120091E", "header": "Effective Date", "nested": [], "links": [] } ], "links": [] } ]

[ "Commerce", "Dyes and dyeing", "Tariff" ]

[ { "text": "1. Short title \nThis Act may be cited as the International Remittance Consumer Protection Act of 2004.", "id": "H26B7E55309B54BC5001B35152D00CD42", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Findings \nThe Congress finds as follows: (1) In 2003, worker remittances from the United States to Latin America reached $31,000,000,000 and that volume is expected to rise as the region is both the fastest growing remittance market in the world and has the highest volume of remittances in the world. (2) Of the $31,000,000,000 in remittances to Latin America, $14,000,000,000 went to Mexico: an amount exceeding the country’s total revenues from tourism, and representing more than 2/3 of the value of petroleum exports and roughly 180 percent of the amount of agricultural exports. (3) Remittances account for at least 10 percent of the gross domestic product of 6 countries in Latin America: Haiti, Nicaragua, El Salvador, Jamaica, the Dominican Republic, and Guyana. (4) The Declaration of Nuevo León from the January 2004 Special Summit of the Americas recognized that … remittances are an important source of capital in many countries of the Hemisphere …. (5) The Declaration of Nuevo León also committed the countries of the Americas to … take concrete actions to promote the establishment, as soon as possible, of necessary conditions, in order to achieve the goal of reducing by at least half the regional average cost of these transfers no later than 2008. (6) Studies have shown that that, on average, around 10 percent of remittances received are saved or invested by the recipients which supports 2 conclusions: that some percentage of recipients are therefore in a position to use remittance money to create new businesses and that financial institutions can also use remittances as the basis of credit for entrepreneurs starting small or micro-enterprises. (7) Since affordable, long-term mortgages are not widely available in many countries of the Western Hemisphere, financial institutions can increase the number of mortgages they provide to poor people in the region by using remittances as the basis for credit. (8) The Multilateral Investment Fund of the Inter-American Development Bank estimates that in February of 2004, the average cost in the United States of sending a remittance to a Latin American country was roughly 8 percent of the amount remitted. (9) The Multilateral Investment Fund also estimates that roughly 61 percent of adult foreign-born Hispanic persons living in the United States, about 10,000,000 people, send remittances to their countries of origin in Latin America and that the amount of the average remittance to Latin America ranges between $200 and $300. (10) The Multilateral Investment Fund estimates that the States of California, New York, Texas, Florida, Illinois, and New Jersey each remit more than $1,000,000,000 annually to Latin America, and will account for $21,700,000,000, or roughly 70 percent of the $31,000,000,000 in remittances going to Latin America in 2004. (11) Recent surveys show that nearly 80 percent of individuals sending remittances use international money transfer companies, and fewer than 10 percent use banks and credit unions. (12) Roughly 1/2 of Latin American immigrants in the United States hold bank accounts, and only 10 percent of the recipients in Latin America of remittances from the United States hold bank accounts. (13) Individuals and families without access to the banking system, in the United States and elsewhere in the Americas, pay higher fees, have difficulty conducting financial transactions, and lack the ability to establish credit records or obtain other benefits from financial institutions. (14) The Federal banking agencies (as defined in section 3 of the Federal Deposit Insurance Act) recently agreed to notify financial institutions that the remittances services they offer to consumers can receive consideration in any evaluation under the Community Reinvestment Act of 1977 as both a retail service, and as a community development service if remittances serve to increase access to financial services by low- and moderate-income individuals. (15) The Federal banking agencies also agreed that current regulations under the Community Reinvestment Act of 1977 provide for a distinction between the mere provision of remittances services by a financial institution and the responsiveness of such services to the financial services needs of low- and moderate-income individuals—thereby allowing for the consideration of lower cost remittances services in an evaluation under such Act. (16) The increased participation of regulated financial institutions, such as banks, savings associations, and credit unions, holds the potential for reducing the costs of remittances while at the same time offering the opportunity to bank the unbanked in Latin American immigrant communities in the United States.", "id": "H80CCD8ADB651461BAE70C156B200009B", "header": "Findings", "nested": [], "links": [] }, { "text": "3. Treatment of remittance transfers \n(a) In general \nThe Electronic Fund Transfer Act ( 15 U.S.C. 1693 et seq. ) is amended— (1) in section 902(b), by inserting and remittance after electronic fund ; (2) by redesignating sections 918, 919, 920, and 921 as sections 919, 920, 921, and 922, respectively; and (3) by inserting after section 917 the following: 918. Remittance transfers \n(a) Disclosures required for remittance transfers \n(1) In general \nEach remittance transfer provider shall make disclosures to consumers, as specified by this section and augmented by regulation of the Board. (2) Specific disclosures \nIn addition to any other disclosures applicable under this title, a remittance transfer provider shall clearly and conspicuously disclose, in writing and in a form that the consumer may keep, to each consumer requesting a remittance transfer— (A) at the time at which the consumer makes the request, and prior to the consumer making any payment in connection with the transfer— (i) the total amount of currency that will be required to be tendered by the consumer in connection with the remittance transfer; (ii) the amount of currency that will be sent to the designated recipient of the remittance transfer, using the values of the currency into which the funds will be exchanged; (iii) the total remittance transfer cost, identified as the Total Cost ; and (iv) an itemization of the charges included in clause (iii), as determined necessary by the Board; and (B) at the time at which the consumer makes payment in connection with the remittance transfer, if any— (i) a receipt showing— (I) the information described in subparagraph (A); (II) the promised date of delivery; (III) the name and telephone number or address of the designated recipient; and (ii) a notice containing— (I) information about the rights of the consumer under this section to resolve errors; and (II) appropriate contact information for the remittance transfer provider and its State licensing authority and Federal or State regulator, as applicable. (3) Exemption authority \nThe Board may, by rule, and subject to subsection (d)(3), permit a remittance transfer provider— (A) to satisfy the requirements of paragraph (2)(A) orally if the transaction is conducted entirely by telephone; (B) to satisfy the requirements of paragraph (2)(B) by mailing the documents required under such paragraph to the consumer not later than 1 business day after the date on which the transaction is conducted, if the transaction is conducted entirely by telephone; and (C) to satisfy the requirements of subparagraphs (A) and (B) of paragraph (2) with 1 written disclosure, but only to the extent that the information provided in accordance with paragraph (2)(A) is accurate at the time at which payment is made in connection with the subject remittance transfer. (b) Foreign language disclosures \nThe disclosures required under this section shall be made in English and in the same languages principally used by the remittance transfer provider, or any of its agents, to advertise, solicit, or market, either orally or in writing, at that office, if other than English. (c) Remittance transfer errors \n(1) Error resolution \n(A) In general \nIf a remittance transfer provider receives oral or written notice from the consumer within 365 days of the promised date of delivery that an error occurred with respect to a remittance transfer, including that the full amount of the funds to be remitted was not made available to the designated recipient in the foreign country, the remittance transfer provider shall resolve the error pursuant to this subsection. (B) Remedies \nNot later than 90 days after the date of receipt of a notice from the consumer pursuant to subparagraph (A), the remittance transfer provider shall, as applicable to the error and as designated by the consumer— (i) refund to the consumer the total amount of funds tendered by the consumer in connection with the remittance transfer which was not properly transmitted; (ii) make available to the designated recipient, without additional cost to the designated recipient or to the consumer, the amount appropriate to resolve the error; (iii) provide such other remedy, as determined appropriate by rule of the Board for the protection of consumers; or (iv) demonstrate to the consumer that there was no error. (2) Regulations \nThe Board shall establish, by regulation, clear and appropriate standards for remittance transfer providers with respect to error resolution relating to remittance transfers, to protect consumers from such errors. (d) Applicability of other provisions of law \n(1) Applicability of title 18 and title 31 provisions \nA remittance transfer provider may only provide remittance transfers if such provider is in compliance with the requirements of section 5330 of title 31, United States Code, and section 1960 of title 18, United States Code, as applicable. (2) Applicability of this title \n(A) Exclusions for certain remittances \nA remittance transfer that is not an electronic fund transfer, as defined in section 903, shall not be subject to any of sections 905 through 913. (B) Full applicability for certain remittances \nA remittance transfer that is an electronic fund transfer, as defined in section 903, shall be subject to all provisions of this title that are otherwise applicable to electronic fund transfers under this title. (3) Rule of construction \nNothing in this section shall be construed— (A) to affect the application to any transaction, to any remittance provider, or to any other person of any of the provisions of subchapter II of chapter 53 of title 31, United States Code, section 21 of the Federal Deposit Insurance Act , or chapter 2 of title I of Public Law 91–508 , or any regulations promulgated thereunder; or (B) to cause any fund transfer that would not otherwise be treated as such under paragraph (2) to be treated as an electronic fund transfer, or as otherwise subject to this title, for the purposes of any of the provisions referred to in subparagraph (A) or any regulation prescribed under such subparagraph. (e) Publication of exchange rates \nThe Secretary of the Treasury shall make available to the public in electronic form, not later than noon on each business day, the dollar exchange rate for all foreign currencies, using any methodology that the Secretary determines appropriate, which may include the methodology used pursuant to section 613(b) of the Foreign Assistance Act of 1961. (f) Agents and subsidiaries \nA remittance transfer provider shall be liable for any violation of this section by any agent or subsidiary of that remittance transfer provider. (g) Definitions \nFor purposes of this section, the following definitions shall apply: (1) Exchange rate fee \nThe term exchange rate fee means the difference between the total dollar amount transferred, valued at the exchange rate offered by the remittance transfer provider, and the total dollar amount transferred, valued at the exchange rate posted by the Secretary of the Treasury in accordance with subsection (e) on the business day prior to the initiation of the subject remittance transfer. (2) Remittance transfer \nThe term remittance transfer means the electronic (as defined in section 106(2) of the Electronic Signatures in Global and National Commerce Act) transfer of funds at the request of a consumer located in any State to a person in another country that is initiated by a remittance transfer provider, whether or not the consumer is an account holder of the remittance transfer provider or whether or not the remittance transfer is also an electronic fund transfer, as defined in section 903. (3) Remittance transfer provider \nThe term remittance transfer provider means any person or financial institution that provides remittance transfers on behalf of consumers in the normal course of its business, whether or not the consumer is an account holder of that person or financial institution. (4) State \nNotwithstanding the definition contained in section 903, the term State means any of the several States, the Commonwealth of Puerto Rico, the District of Columbia, and any territory or possession of the United States. (5) Total remittance transfer cost \nThe term total remittance transfer cost means the total cost of a remittance transfer expressed in dollars, including all fees charged by the remittance transfer provider, including the exchange rate fee.. (b) Effect on State laws \nSection 919 of the Electronic Fund Transfer Act ( 12 U.S.C. 1693q ) is amended— (1) in the 1st sentence, by inserting or remittance transfers (as defined in section 918) after transfers ; and (2) in the 2nd sentence, by inserting , or remittance transfer providers (as defined in section 918), in the case of remittance transfers, after financial institutions.", "id": "H02D8D123C1C44019AE1000E76697253C", "header": "Treatment of remittance transfers", "nested": [ { "text": "(a) In general \nThe Electronic Fund Transfer Act ( 15 U.S.C. 1693 et seq. ) is amended— (1) in section 902(b), by inserting and remittance after electronic fund ; (2) by redesignating sections 918, 919, 920, and 921 as sections 919, 920, 921, and 922, respectively; and (3) by inserting after section 917 the following: 918. Remittance transfers \n(a) Disclosures required for remittance transfers \n(1) In general \nEach remittance transfer provider shall make disclosures to consumers, as specified by this section and augmented by regulation of the Board. (2) Specific disclosures \nIn addition to any other disclosures applicable under this title, a remittance transfer provider shall clearly and conspicuously disclose, in writing and in a form that the consumer may keep, to each consumer requesting a remittance transfer— (A) at the time at which the consumer makes the request, and prior to the consumer making any payment in connection with the transfer— (i) the total amount of currency that will be required to be tendered by the consumer in connection with the remittance transfer; (ii) the amount of currency that will be sent to the designated recipient of the remittance transfer, using the values of the currency into which the funds will be exchanged; (iii) the total remittance transfer cost, identified as the Total Cost ; and (iv) an itemization of the charges included in clause (iii), as determined necessary by the Board; and (B) at the time at which the consumer makes payment in connection with the remittance transfer, if any— (i) a receipt showing— (I) the information described in subparagraph (A); (II) the promised date of delivery; (III) the name and telephone number or address of the designated recipient; and (ii) a notice containing— (I) information about the rights of the consumer under this section to resolve errors; and (II) appropriate contact information for the remittance transfer provider and its State licensing authority and Federal or State regulator, as applicable. (3) Exemption authority \nThe Board may, by rule, and subject to subsection (d)(3), permit a remittance transfer provider— (A) to satisfy the requirements of paragraph (2)(A) orally if the transaction is conducted entirely by telephone; (B) to satisfy the requirements of paragraph (2)(B) by mailing the documents required under such paragraph to the consumer not later than 1 business day after the date on which the transaction is conducted, if the transaction is conducted entirely by telephone; and (C) to satisfy the requirements of subparagraphs (A) and (B) of paragraph (2) with 1 written disclosure, but only to the extent that the information provided in accordance with paragraph (2)(A) is accurate at the time at which payment is made in connection with the subject remittance transfer. (b) Foreign language disclosures \nThe disclosures required under this section shall be made in English and in the same languages principally used by the remittance transfer provider, or any of its agents, to advertise, solicit, or market, either orally or in writing, at that office, if other than English. (c) Remittance transfer errors \n(1) Error resolution \n(A) In general \nIf a remittance transfer provider receives oral or written notice from the consumer within 365 days of the promised date of delivery that an error occurred with respect to a remittance transfer, including that the full amount of the funds to be remitted was not made available to the designated recipient in the foreign country, the remittance transfer provider shall resolve the error pursuant to this subsection. (B) Remedies \nNot later than 90 days after the date of receipt of a notice from the consumer pursuant to subparagraph (A), the remittance transfer provider shall, as applicable to the error and as designated by the consumer— (i) refund to the consumer the total amount of funds tendered by the consumer in connection with the remittance transfer which was not properly transmitted; (ii) make available to the designated recipient, without additional cost to the designated recipient or to the consumer, the amount appropriate to resolve the error; (iii) provide such other remedy, as determined appropriate by rule of the Board for the protection of consumers; or (iv) demonstrate to the consumer that there was no error. (2) Regulations \nThe Board shall establish, by regulation, clear and appropriate standards for remittance transfer providers with respect to error resolution relating to remittance transfers, to protect consumers from such errors. (d) Applicability of other provisions of law \n(1) Applicability of title 18 and title 31 provisions \nA remittance transfer provider may only provide remittance transfers if such provider is in compliance with the requirements of section 5330 of title 31, United States Code, and section 1960 of title 18, United States Code, as applicable. (2) Applicability of this title \n(A) Exclusions for certain remittances \nA remittance transfer that is not an electronic fund transfer, as defined in section 903, shall not be subject to any of sections 905 through 913. (B) Full applicability for certain remittances \nA remittance transfer that is an electronic fund transfer, as defined in section 903, shall be subject to all provisions of this title that are otherwise applicable to electronic fund transfers under this title. (3) Rule of construction \nNothing in this section shall be construed— (A) to affect the application to any transaction, to any remittance provider, or to any other person of any of the provisions of subchapter II of chapter 53 of title 31, United States Code, section 21 of the Federal Deposit Insurance Act , or chapter 2 of title I of Public Law 91–508 , or any regulations promulgated thereunder; or (B) to cause any fund transfer that would not otherwise be treated as such under paragraph (2) to be treated as an electronic fund transfer, or as otherwise subject to this title, for the purposes of any of the provisions referred to in subparagraph (A) or any regulation prescribed under such subparagraph. (e) Publication of exchange rates \nThe Secretary of the Treasury shall make available to the public in electronic form, not later than noon on each business day, the dollar exchange rate for all foreign currencies, using any methodology that the Secretary determines appropriate, which may include the methodology used pursuant to section 613(b) of the Foreign Assistance Act of 1961. (f) Agents and subsidiaries \nA remittance transfer provider shall be liable for any violation of this section by any agent or subsidiary of that remittance transfer provider. (g) Definitions \nFor purposes of this section, the following definitions shall apply: (1) Exchange rate fee \nThe term exchange rate fee means the difference between the total dollar amount transferred, valued at the exchange rate offered by the remittance transfer provider, and the total dollar amount transferred, valued at the exchange rate posted by the Secretary of the Treasury in accordance with subsection (e) on the business day prior to the initiation of the subject remittance transfer. (2) Remittance transfer \nThe term remittance transfer means the electronic (as defined in section 106(2) of the Electronic Signatures in Global and National Commerce Act) transfer of funds at the request of a consumer located in any State to a person in another country that is initiated by a remittance transfer provider, whether or not the consumer is an account holder of the remittance transfer provider or whether or not the remittance transfer is also an electronic fund transfer, as defined in section 903. (3) Remittance transfer provider \nThe term remittance transfer provider means any person or financial institution that provides remittance transfers on behalf of consumers in the normal course of its business, whether or not the consumer is an account holder of that person or financial institution. (4) State \nNotwithstanding the definition contained in section 903, the term State means any of the several States, the Commonwealth of Puerto Rico, the District of Columbia, and any territory or possession of the United States. (5) Total remittance transfer cost \nThe term total remittance transfer cost means the total cost of a remittance transfer expressed in dollars, including all fees charged by the remittance transfer provider, including the exchange rate fee..", "id": "H8830ADB9FEAE4C15B58356B59081D9F6", "header": "In general", "nested": [], "links": [ { "text": "15 U.S.C. 1693 et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/1693" }, { "text": "section 5330", "legal-doc": "usc", "parsable-cite": "usc/31/5330" }, { "text": "section 1960", "legal-doc": "usc", "parsable-cite": "usc/18/1960" }, { "text": "chapter 53", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/31/53" }, { "text": "Public Law 91–508", "legal-doc": "public-law", "parsable-cite": "pl/91/508" } ] }, { "text": "(b) Effect on State laws \nSection 919 of the Electronic Fund Transfer Act ( 12 U.S.C. 1693q ) is amended— (1) in the 1st sentence, by inserting or remittance transfers (as defined in section 918) after transfers ; and (2) in the 2nd sentence, by inserting , or remittance transfer providers (as defined in section 918), in the case of remittance transfers, after financial institutions.", "id": "H6F3F4A6967CC4C96BF5F43A43B0691A4", "header": "Effect on State laws", "nested": [], "links": [ { "text": "12 U.S.C. 1693q", "legal-doc": "usc", "parsable-cite": "usc/12/1693q" } ] } ], "links": [ { "text": "15 U.S.C. 1693 et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/1693" }, { "text": "section 5330", "legal-doc": "usc", "parsable-cite": "usc/31/5330" }, { "text": "section 1960", "legal-doc": "usc", "parsable-cite": "usc/18/1960" }, { "text": "chapter 53", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/31/53" }, { "text": "Public Law 91–508", "legal-doc": "public-law", "parsable-cite": "pl/91/508" }, { "text": "12 U.S.C. 1693q", "legal-doc": "usc", "parsable-cite": "usc/12/1693q" } ] }, { "text": "918. Remittance transfers \n(a) Disclosures required for remittance transfers \n(1) In general \nEach remittance transfer provider shall make disclosures to consumers, as specified by this section and augmented by regulation of the Board. (2) Specific disclosures \nIn addition to any other disclosures applicable under this title, a remittance transfer provider shall clearly and conspicuously disclose, in writing and in a form that the consumer may keep, to each consumer requesting a remittance transfer— (A) at the time at which the consumer makes the request, and prior to the consumer making any payment in connection with the transfer— (i) the total amount of currency that will be required to be tendered by the consumer in connection with the remittance transfer; (ii) the amount of currency that will be sent to the designated recipient of the remittance transfer, using the values of the currency into which the funds will be exchanged; (iii) the total remittance transfer cost, identified as the Total Cost ; and (iv) an itemization of the charges included in clause (iii), as determined necessary by the Board; and (B) at the time at which the consumer makes payment in connection with the remittance transfer, if any— (i) a receipt showing— (I) the information described in subparagraph (A); (II) the promised date of delivery; (III) the name and telephone number or address of the designated recipient; and (ii) a notice containing— (I) information about the rights of the consumer under this section to resolve errors; and (II) appropriate contact information for the remittance transfer provider and its State licensing authority and Federal or State regulator, as applicable. (3) Exemption authority \nThe Board may, by rule, and subject to subsection (d)(3), permit a remittance transfer provider— (A) to satisfy the requirements of paragraph (2)(A) orally if the transaction is conducted entirely by telephone; (B) to satisfy the requirements of paragraph (2)(B) by mailing the documents required under such paragraph to the consumer not later than 1 business day after the date on which the transaction is conducted, if the transaction is conducted entirely by telephone; and (C) to satisfy the requirements of subparagraphs (A) and (B) of paragraph (2) with 1 written disclosure, but only to the extent that the information provided in accordance with paragraph (2)(A) is accurate at the time at which payment is made in connection with the subject remittance transfer. (b) Foreign language disclosures \nThe disclosures required under this section shall be made in English and in the same languages principally used by the remittance transfer provider, or any of its agents, to advertise, solicit, or market, either orally or in writing, at that office, if other than English. (c) Remittance transfer errors \n(1) Error resolution \n(A) In general \nIf a remittance transfer provider receives oral or written notice from the consumer within 365 days of the promised date of delivery that an error occurred with respect to a remittance transfer, including that the full amount of the funds to be remitted was not made available to the designated recipient in the foreign country, the remittance transfer provider shall resolve the error pursuant to this subsection. (B) Remedies \nNot later than 90 days after the date of receipt of a notice from the consumer pursuant to subparagraph (A), the remittance transfer provider shall, as applicable to the error and as designated by the consumer— (i) refund to the consumer the total amount of funds tendered by the consumer in connection with the remittance transfer which was not properly transmitted; (ii) make available to the designated recipient, without additional cost to the designated recipient or to the consumer, the amount appropriate to resolve the error; (iii) provide such other remedy, as determined appropriate by rule of the Board for the protection of consumers; or (iv) demonstrate to the consumer that there was no error. (2) Regulations \nThe Board shall establish, by regulation, clear and appropriate standards for remittance transfer providers with respect to error resolution relating to remittance transfers, to protect consumers from such errors. (d) Applicability of other provisions of law \n(1) Applicability of title 18 and title 31 provisions \nA remittance transfer provider may only provide remittance transfers if such provider is in compliance with the requirements of section 5330 of title 31, United States Code, and section 1960 of title 18, United States Code, as applicable. (2) Applicability of this title \n(A) Exclusions for certain remittances \nA remittance transfer that is not an electronic fund transfer, as defined in section 903, shall not be subject to any of sections 905 through 913. (B) Full applicability for certain remittances \nA remittance transfer that is an electronic fund transfer, as defined in section 903, shall be subject to all provisions of this title that are otherwise applicable to electronic fund transfers under this title. (3) Rule of construction \nNothing in this section shall be construed— (A) to affect the application to any transaction, to any remittance provider, or to any other person of any of the provisions of subchapter II of chapter 53 of title 31, United States Code, section 21 of the Federal Deposit Insurance Act , or chapter 2 of title I of Public Law 91–508 , or any regulations promulgated thereunder; or (B) to cause any fund transfer that would not otherwise be treated as such under paragraph (2) to be treated as an electronic fund transfer, or as otherwise subject to this title, for the purposes of any of the provisions referred to in subparagraph (A) or any regulation prescribed under such subparagraph. (e) Publication of exchange rates \nThe Secretary of the Treasury shall make available to the public in electronic form, not later than noon on each business day, the dollar exchange rate for all foreign currencies, using any methodology that the Secretary determines appropriate, which may include the methodology used pursuant to section 613(b) of the Foreign Assistance Act of 1961. (f) Agents and subsidiaries \nA remittance transfer provider shall be liable for any violation of this section by any agent or subsidiary of that remittance transfer provider. (g) Definitions \nFor purposes of this section, the following definitions shall apply: (1) Exchange rate fee \nThe term exchange rate fee means the difference between the total dollar amount transferred, valued at the exchange rate offered by the remittance transfer provider, and the total dollar amount transferred, valued at the exchange rate posted by the Secretary of the Treasury in accordance with subsection (e) on the business day prior to the initiation of the subject remittance transfer. (2) Remittance transfer \nThe term remittance transfer means the electronic (as defined in section 106(2) of the Electronic Signatures in Global and National Commerce Act) transfer of funds at the request of a consumer located in any State to a person in another country that is initiated by a remittance transfer provider, whether or not the consumer is an account holder of the remittance transfer provider or whether or not the remittance transfer is also an electronic fund transfer, as defined in section 903. (3) Remittance transfer provider \nThe term remittance transfer provider means any person or financial institution that provides remittance transfers on behalf of consumers in the normal course of its business, whether or not the consumer is an account holder of that person or financial institution. (4) State \nNotwithstanding the definition contained in section 903, the term State means any of the several States, the Commonwealth of Puerto Rico, the District of Columbia, and any territory or possession of the United States. (5) Total remittance transfer cost \nThe term total remittance transfer cost means the total cost of a remittance transfer expressed in dollars, including all fees charged by the remittance transfer provider, including the exchange rate fee.", "id": "HA2EC729C8BF246C5AC193300D1001DE0", "header": "Remittance transfers", "nested": [ { "text": "(a) Disclosures required for remittance transfers \n(1) In general \nEach remittance transfer provider shall make disclosures to consumers, as specified by this section and augmented by regulation of the Board. (2) Specific disclosures \nIn addition to any other disclosures applicable under this title, a remittance transfer provider shall clearly and conspicuously disclose, in writing and in a form that the consumer may keep, to each consumer requesting a remittance transfer— (A) at the time at which the consumer makes the request, and prior to the consumer making any payment in connection with the transfer— (i) the total amount of currency that will be required to be tendered by the consumer in connection with the remittance transfer; (ii) the amount of currency that will be sent to the designated recipient of the remittance transfer, using the values of the currency into which the funds will be exchanged; (iii) the total remittance transfer cost, identified as the Total Cost ; and (iv) an itemization of the charges included in clause (iii), as determined necessary by the Board; and (B) at the time at which the consumer makes payment in connection with the remittance transfer, if any— (i) a receipt showing— (I) the information described in subparagraph (A); (II) the promised date of delivery; (III) the name and telephone number or address of the designated recipient; and (ii) a notice containing— (I) information about the rights of the consumer under this section to resolve errors; and (II) appropriate contact information for the remittance transfer provider and its State licensing authority and Federal or State regulator, as applicable. (3) Exemption authority \nThe Board may, by rule, and subject to subsection (d)(3), permit a remittance transfer provider— (A) to satisfy the requirements of paragraph (2)(A) orally if the transaction is conducted entirely by telephone; (B) to satisfy the requirements of paragraph (2)(B) by mailing the documents required under such paragraph to the consumer not later than 1 business day after the date on which the transaction is conducted, if the transaction is conducted entirely by telephone; and (C) to satisfy the requirements of subparagraphs (A) and (B) of paragraph (2) with 1 written disclosure, but only to the extent that the information provided in accordance with paragraph (2)(A) is accurate at the time at which payment is made in connection with the subject remittance transfer.", "id": "H7227A4C690C14B87A0799C7BB9775F54", "header": "Disclosures required for remittance transfers", "nested": [], "links": [] }, { "text": "(b) Foreign language disclosures \nThe disclosures required under this section shall be made in English and in the same languages principally used by the remittance transfer provider, or any of its agents, to advertise, solicit, or market, either orally or in writing, at that office, if other than English.", "id": "H4EE1DAA49AD546248530DE1E02D0DC3E", "header": "Foreign language disclosures", "nested": [], "links": [] }, { "text": "(c) Remittance transfer errors \n(1) Error resolution \n(A) In general \nIf a remittance transfer provider receives oral or written notice from the consumer within 365 days of the promised date of delivery that an error occurred with respect to a remittance transfer, including that the full amount of the funds to be remitted was not made available to the designated recipient in the foreign country, the remittance transfer provider shall resolve the error pursuant to this subsection. (B) Remedies \nNot later than 90 days after the date of receipt of a notice from the consumer pursuant to subparagraph (A), the remittance transfer provider shall, as applicable to the error and as designated by the consumer— (i) refund to the consumer the total amount of funds tendered by the consumer in connection with the remittance transfer which was not properly transmitted; (ii) make available to the designated recipient, without additional cost to the designated recipient or to the consumer, the amount appropriate to resolve the error; (iii) provide such other remedy, as determined appropriate by rule of the Board for the protection of consumers; or (iv) demonstrate to the consumer that there was no error. (2) Regulations \nThe Board shall establish, by regulation, clear and appropriate standards for remittance transfer providers with respect to error resolution relating to remittance transfers, to protect consumers from such errors.", "id": "HAD26BD52B4334584AF891D391C5B64D8", "header": "Remittance transfer errors", "nested": [], "links": [] }, { "text": "(d) Applicability of other provisions of law \n(1) Applicability of title 18 and title 31 provisions \nA remittance transfer provider may only provide remittance transfers if such provider is in compliance with the requirements of section 5330 of title 31, United States Code, and section 1960 of title 18, United States Code, as applicable. (2) Applicability of this title \n(A) Exclusions for certain remittances \nA remittance transfer that is not an electronic fund transfer, as defined in section 903, shall not be subject to any of sections 905 through 913. (B) Full applicability for certain remittances \nA remittance transfer that is an electronic fund transfer, as defined in section 903, shall be subject to all provisions of this title that are otherwise applicable to electronic fund transfers under this title. (3) Rule of construction \nNothing in this section shall be construed— (A) to affect the application to any transaction, to any remittance provider, or to any other person of any of the provisions of subchapter II of chapter 53 of title 31, United States Code, section 21 of the Federal Deposit Insurance Act , or chapter 2 of title I of Public Law 91–508 , or any regulations promulgated thereunder; or (B) to cause any fund transfer that would not otherwise be treated as such under paragraph (2) to be treated as an electronic fund transfer, or as otherwise subject to this title, for the purposes of any of the provisions referred to in subparagraph (A) or any regulation prescribed under such subparagraph.", "id": "H77523F13E9904C7EB8B0577FA3B6F4F3", "header": "Applicability of other provisions of law", "nested": [], "links": [ { "text": "section 5330", "legal-doc": "usc", "parsable-cite": "usc/31/5330" }, { "text": "section 1960", "legal-doc": "usc", "parsable-cite": "usc/18/1960" }, { "text": "chapter 53", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/31/53" }, { "text": "Public Law 91–508", "legal-doc": "public-law", "parsable-cite": "pl/91/508" } ] }, { "text": "(e) Publication of exchange rates \nThe Secretary of the Treasury shall make available to the public in electronic form, not later than noon on each business day, the dollar exchange rate for all foreign currencies, using any methodology that the Secretary determines appropriate, which may include the methodology used pursuant to section 613(b) of the Foreign Assistance Act of 1961.", "id": "HBA5A5EB9082F4DD2ABC255D8CCF8B29", "header": "Publication of exchange rates", "nested": [], "links": [] }, { "text": "(f) Agents and subsidiaries \nA remittance transfer provider shall be liable for any violation of this section by any agent or subsidiary of that remittance transfer provider.", "id": "H92300559D8424928A37C65A773F892DA", "header": "Agents and subsidiaries", "nested": [], "links": [] }, { "text": "(g) Definitions \nFor purposes of this section, the following definitions shall apply: (1) Exchange rate fee \nThe term exchange rate fee means the difference between the total dollar amount transferred, valued at the exchange rate offered by the remittance transfer provider, and the total dollar amount transferred, valued at the exchange rate posted by the Secretary of the Treasury in accordance with subsection (e) on the business day prior to the initiation of the subject remittance transfer. (2) Remittance transfer \nThe term remittance transfer means the electronic (as defined in section 106(2) of the Electronic Signatures in Global and National Commerce Act) transfer of funds at the request of a consumer located in any State to a person in another country that is initiated by a remittance transfer provider, whether or not the consumer is an account holder of the remittance transfer provider or whether or not the remittance transfer is also an electronic fund transfer, as defined in section 903. (3) Remittance transfer provider \nThe term remittance transfer provider means any person or financial institution that provides remittance transfers on behalf of consumers in the normal course of its business, whether or not the consumer is an account holder of that person or financial institution. (4) State \nNotwithstanding the definition contained in section 903, the term State means any of the several States, the Commonwealth of Puerto Rico, the District of Columbia, and any territory or possession of the United States. (5) Total remittance transfer cost \nThe term total remittance transfer cost means the total cost of a remittance transfer expressed in dollars, including all fees charged by the remittance transfer provider, including the exchange rate fee.", "id": "HB87415463B9C431CB9489D1DBEA7800", "header": "Definitions", "nested": [], "links": [] } ], "links": [ { "text": "section 5330", "legal-doc": "usc", "parsable-cite": "usc/31/5330" }, { "text": "section 1960", "legal-doc": "usc", "parsable-cite": "usc/18/1960" }, { "text": "chapter 53", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/31/53" }, { "text": "Public Law 91–508", "legal-doc": "public-law", "parsable-cite": "pl/91/508" } ] }, { "text": "4. Federal Credit Union Act amendment \nParagraph (12) of section 107 of the Federal Credit Union Act ( 12 U.S.C. 1757(12) ) is amended to read as follows: (12) in accordance with regulations prescribed by the Board— (A) to provide remittance transfers, as defined in section 918(h) of the Electronic Fund Transfer Act , to persons in the field of membership; and (B) to cash checks and money orders for persons in the field of membership for a fee;.", "id": "H926B7F5CCB3444998D57CE74A8364094", "header": "Federal Credit Union Act amendment", "nested": [], "links": [ { "text": "12 U.S.C. 1757(12)", "legal-doc": "usc", "parsable-cite": "usc/12/1757" } ] }, { "text": "5. Automated clearinghouse system \n(a) Expansion of system \nThe Board of Governors of the Federal Reserve System shall work with the Federal reserve banks to expand the use of the automated clearinghouse system for remittance transfers to foreign countries, with a focus on countries that receive significant remittance transfers from the United States, based on— (1) the number, volume, and sizes of such transfers; (2) the significance of the volume of such transfers, relative to the external financial flows of the receiving country; and (3) the feasibility of such an expansion. (b) Report to Congress \nBefore the end of the 180-day period beginning on the date of the enactment of this Act, and on April 30 biannually thereafter, the Board of Governors of the Federal Reserve System shall submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives on the status of the automated clearinghouse system and its progress in complying with the requirements of this section.", "id": "H22D95D8A74834E999E51D0A793E32DCF", "header": "Automated clearinghouse system", "nested": [ { "text": "(a) Expansion of system \nThe Board of Governors of the Federal Reserve System shall work with the Federal reserve banks to expand the use of the automated clearinghouse system for remittance transfers to foreign countries, with a focus on countries that receive significant remittance transfers from the United States, based on— (1) the number, volume, and sizes of such transfers; (2) the significance of the volume of such transfers, relative to the external financial flows of the receiving country; and (3) the feasibility of such an expansion.", "id": "HC2B4869393AE414D8CB097469C4ED5AA", "header": "Expansion of system", "nested": [], "links": [] }, { "text": "(b) Report to Congress \nBefore the end of the 180-day period beginning on the date of the enactment of this Act, and on April 30 biannually thereafter, the Board of Governors of the Federal Reserve System shall submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives on the status of the automated clearinghouse system and its progress in complying with the requirements of this section.", "id": "H330D984A31FD47CBA2F46251D095C7B2", "header": "Report to Congress", "nested": [], "links": [] } ], "links": [] }, { "text": "6. Expansion of financial institution provision of remittance transfers \n(a) Provision of guidelines to institutions \nEach of the Federal banking agencies (as defined in section 3 of the Federal Deposit Insurance Act ) and the National Credit Union Administration shall provide guidelines to financial institutions under the jurisdiction of the agency regarding— (1) the offering of low-cost remittance transfers and no-cost or low-cost basic consumer accounts; (2) the availability of agency services to remittance transfer providers; and (3) specific options for financial institutions to use to take advantage of automated clearing systems, including the FedACH International Services offered by the Board of Governors of the Federal Reserve System and the Federal reserve banks, to transmit remittances at low cost. (b) Content of guidelines \nGuidelines provided to financial institutions under this section shall include— (1) information as to the methods of providing remittance transfer services; (2) the potential economic opportunities in providing low-cost remittance transfers; and (3) the potential value to financial institutions of broadening their financial bases to include persons that use remittance transfers. (c) Assistance to financial literacy Commission \nThe Secretary of the Treasury and each agency referred to in subsection (a) shall, as part of their duties as members of the Financial Literacy and Education Commission, assist that Commission in improving the financial literacy and education of consumers who send remittances. (d) Multimedia campaign \nThe Secretary of the Treasury shall, as part of the national public service multimedia campaign established under section 518(a) of the Fair and Accurate Credit Transactions Act of 2003, undertake a multilingual multimedia campaign to inform populations that are remittance users of the low-cost options for remittance transfers available to them, such as services provided by depository institutions and credit unions.", "id": "H92FCA74E94194B36886C120816A1CEEA", "header": "Expansion of financial institution provision of remittance transfers", "nested": [ { "text": "(a) Provision of guidelines to institutions \nEach of the Federal banking agencies (as defined in section 3 of the Federal Deposit Insurance Act ) and the National Credit Union Administration shall provide guidelines to financial institutions under the jurisdiction of the agency regarding— (1) the offering of low-cost remittance transfers and no-cost or low-cost basic consumer accounts; (2) the availability of agency services to remittance transfer providers; and (3) specific options for financial institutions to use to take advantage of automated clearing systems, including the FedACH International Services offered by the Board of Governors of the Federal Reserve System and the Federal reserve banks, to transmit remittances at low cost.", "id": "HAA7CB7C4EC914CBDB6FCDC51BAE3417D", "header": "Provision of guidelines to institutions", "nested": [], "links": [] }, { "text": "(b) Content of guidelines \nGuidelines provided to financial institutions under this section shall include— (1) information as to the methods of providing remittance transfer services; (2) the potential economic opportunities in providing low-cost remittance transfers; and (3) the potential value to financial institutions of broadening their financial bases to include persons that use remittance transfers.", "id": "HC3C604F10EF648CC9248E3ED74CB91", "header": "Content of guidelines", "nested": [], "links": [] }, { "text": "(c) Assistance to financial literacy Commission \nThe Secretary of the Treasury and each agency referred to in subsection (a) shall, as part of their duties as members of the Financial Literacy and Education Commission, assist that Commission in improving the financial literacy and education of consumers who send remittances.", "id": "H2A986FB510084DC68619007CA9342B58", "header": "Assistance to financial literacy Commission", "nested": [], "links": [] }, { "text": "(d) Multimedia campaign \nThe Secretary of the Treasury shall, as part of the national public service multimedia campaign established under section 518(a) of the Fair and Accurate Credit Transactions Act of 2003, undertake a multilingual multimedia campaign to inform populations that are remittance users of the low-cost options for remittance transfers available to them, such as services provided by depository institutions and credit unions.", "id": "H73BE1129EB2D49388CA0A5A363009FC6", "header": "Multimedia campaign", "nested": [], "links": [] } ], "links": [] }, { "text": "7. AID assistance to increase capital and lower remittance transfer costs \n(a) In general \nPart I of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2151 et seq. ) is amended by adding at the end the following: 13 Social Investment and Economic Development for the Americas \n499H. Facilitating flows of personal remittances \n(a) In general \nThe President, acting through the Administrator of the United States Agency for International Development, shall provide assistance to leverage personal remittances and reduce the cost of remittances sent to Latin America and the Caribbean by— (1) increasing access to financial institutions for the poor and working with local financial institutions to reduce fees and other costs associated with sending or receiving remittances; (2) working with local financial institutions to develop programs whereby personal remittances could be used as the basis of credit for mortgages and loans for small business, microenterprises, housing, and other enterprises; and (3) providing matching funds for United States’ private entities that send remittances for development projects in Latin America and the Caribbean. (b) Implementation \nThe United States Agency for International Development shall follow the best practices of the Inter-American Development Bank and other appropriate organizations when designing and implementing programs that leverage personal remittances and reduce the cost of remittances sent to Latin America and the Caribbean.. (b) GAO study regarding the effectiveness and success of pilot projects implemented by the United States Agency for International Development \n(1) Study \nThe Comptroller General of the United States shall conduct a study on the effectiveness and success of the pilot projects that have been implemented by the United States Agency for International Development’s missions in Mexico, El Salvador, and Jamaica, and through the United States Agency for International Development’s Global Development Alliance. (2) Report \nBefore the end of the 1-year period beginning on the date of the enactment of this Act, the Comptroller General shall submit a report to the Congress on the findings and conclusions resulting from the study conducted under paragraph (1), together with such recommendations for legislative or administrative action as the Comptroller General may determine to be appropriate.", "id": "HDD4A4C3C5404468B85259BC5D2EDB1D5", "header": "AID assistance to increase capital and lower remittance transfer costs", "nested": [ { "text": "(a) In general \nPart I of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2151 et seq. ) is amended by adding at the end the following: 13 Social Investment and Economic Development for the Americas \n499H. Facilitating flows of personal remittances \n(a) In general \nThe President, acting through the Administrator of the United States Agency for International Development, shall provide assistance to leverage personal remittances and reduce the cost of remittances sent to Latin America and the Caribbean by— (1) increasing access to financial institutions for the poor and working with local financial institutions to reduce fees and other costs associated with sending or receiving remittances; (2) working with local financial institutions to develop programs whereby personal remittances could be used as the basis of credit for mortgages and loans for small business, microenterprises, housing, and other enterprises; and (3) providing matching funds for United States’ private entities that send remittances for development projects in Latin America and the Caribbean. (b) Implementation \nThe United States Agency for International Development shall follow the best practices of the Inter-American Development Bank and other appropriate organizations when designing and implementing programs that leverage personal remittances and reduce the cost of remittances sent to Latin America and the Caribbean..", "id": "HDED5BF78ADE84FB983D9001976B77300", "header": "In general", "nested": [], "links": [ { "text": "22 U.S.C. 2151 et seq.", "legal-doc": "usc", "parsable-cite": "usc/22/2151" } ] }, { "text": "(b) GAO study regarding the effectiveness and success of pilot projects implemented by the United States Agency for International Development \n(1) Study \nThe Comptroller General of the United States shall conduct a study on the effectiveness and success of the pilot projects that have been implemented by the United States Agency for International Development’s missions in Mexico, El Salvador, and Jamaica, and through the United States Agency for International Development’s Global Development Alliance. (2) Report \nBefore the end of the 1-year period beginning on the date of the enactment of this Act, the Comptroller General shall submit a report to the Congress on the findings and conclusions resulting from the study conducted under paragraph (1), together with such recommendations for legislative or administrative action as the Comptroller General may determine to be appropriate.", "id": "HEDE9CF777F0E4C5AB860344426D3A6D9", "header": "GAO study regarding the effectiveness and success of pilot projects implemented by the United States Agency for International Development", "nested": [], "links": [] } ], "links": [ { "text": "22 U.S.C. 2151 et seq.", "legal-doc": "usc", "parsable-cite": "usc/22/2151" } ] }, { "text": "499H. Facilitating flows of personal remittances \n(a) In general \nThe President, acting through the Administrator of the United States Agency for International Development, shall provide assistance to leverage personal remittances and reduce the cost of remittances sent to Latin America and the Caribbean by— (1) increasing access to financial institutions for the poor and working with local financial institutions to reduce fees and other costs associated with sending or receiving remittances; (2) working with local financial institutions to develop programs whereby personal remittances could be used as the basis of credit for mortgages and loans for small business, microenterprises, housing, and other enterprises; and (3) providing matching funds for United States’ private entities that send remittances for development projects in Latin America and the Caribbean. (b) Implementation \nThe United States Agency for International Development shall follow the best practices of the Inter-American Development Bank and other appropriate organizations when designing and implementing programs that leverage personal remittances and reduce the cost of remittances sent to Latin America and the Caribbean.", "id": "HB2A63ADBB6C84A33ACC654FAA5A506B6", "header": "Facilitating flows of personal remittances", "nested": [ { "text": "(a) In general \nThe President, acting through the Administrator of the United States Agency for International Development, shall provide assistance to leverage personal remittances and reduce the cost of remittances sent to Latin America and the Caribbean by— (1) increasing access to financial institutions for the poor and working with local financial institutions to reduce fees and other costs associated with sending or receiving remittances; (2) working with local financial institutions to develop programs whereby personal remittances could be used as the basis of credit for mortgages and loans for small business, microenterprises, housing, and other enterprises; and (3) providing matching funds for United States’ private entities that send remittances for development projects in Latin America and the Caribbean.", "id": "HB036109609BA4312985C86E275AF98AC", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Implementation \nThe United States Agency for International Development shall follow the best practices of the Inter-American Development Bank and other appropriate organizations when designing and implementing programs that leverage personal remittances and reduce the cost of remittances sent to Latin America and the Caribbean.", "id": "H2FBF90BDB8844121A206B3FF404448D", "header": "Implementation", "nested": [], "links": [] } ], "links": [] }, { "text": "8. Inter-American Development Bank assistance to facilitate flows of personal remittances \nThe Inter-American Development Bank Act (22 U.S.C. 283—283z–10) is amended by adding at the end the following new section: 39. Facilitating flows of personal remittances \nThe Secretary of the Treasury shall instruct the United States Executive Director at the Bank to use the voice, vote, and influence of the United States to urge the Bank to provide assistance to— (1) increasing access to financial institutions for the poor and working with local financial institutions to reduce fees and other costs associated with sending or receiving remittances; (2) working with local financial institutions to develop programs whereby personal remittances could be used as the basis of credit for mortgages and loans for small business, microenterprises, housing, and other enterprises; and (3) providing matching funds for United States’ private entities that send remittances for development projects in Latin America and the Caribbean..", "id": "H717F3A9DFD7E4FF7AE755048A269D3C6", "header": "Inter-American Development Bank assistance to facilitate flows of personal remittances", "nested": [], "links": [] }, { "text": "39. Facilitating flows of personal remittances \nThe Secretary of the Treasury shall instruct the United States Executive Director at the Bank to use the voice, vote, and influence of the United States to urge the Bank to provide assistance to— (1) increasing access to financial institutions for the poor and working with local financial institutions to reduce fees and other costs associated with sending or receiving remittances; (2) working with local financial institutions to develop programs whereby personal remittances could be used as the basis of credit for mortgages and loans for small business, microenterprises, housing, and other enterprises; and (3) providing matching funds for United States’ private entities that send remittances for development projects in Latin America and the Caribbean.", "id": "HEFEC1DCF5ABE41A58D969D4F6738BF34", "header": "Facilitating flows of personal remittances", "nested": [], "links": [] }, { "text": "9. Study and report on remittances \n(a) Study \nThe Comptroller General of the United States shall conduct a study and analysis of the remittance transfer system, including an analysis of its impact on consumers. (b) Areas of consideration \nThe study conducted under this section shall include, to the extent that information is available— (1) an estimate of the total amount, in dollars, transmitted from individuals in the United States to other countries, including per country data, historical data, and any available projections concerning future remittance levels; (2) a comparison of the amount of remittance funds, in total and per country, to the amount of foreign trade, bilateral assistance, and multi-development bank programs involving each of the subject countries; (3) an analysis of the methods used to remit the funds, with estimates of the amounts remitted through each method and descriptive statistics for each method, such as market share, median transaction size, and cost per transaction, including through— (A) depository institutions; (B) postal money orders and other money orders; (C) automatic teller machines; (D) wire transfer services; and (E) personal delivery services; (4) an analysis of advantages and disadvantages of each remitting method listed in subparagraphs (A) through (E) of paragraph (3); (5) an analysis of the types and specificity of disclosures made by various types of remittance transaction providers to consumers who send remittances; and (6) if reliable data are unavailable, recommendations concerning options for the Congress to consider to improve the state of information on remittances from the United States. (c) Report to Congress \nBefore the end of the 1-year period beginning on the date of the enactment of this Act, the Comptroller General shall submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives on the results of the study conducted under this section.", "id": "HFEB2CF40994C46F0B49BE85C32C44441", "header": "Study and report on remittances", "nested": [ { "text": "(a) Study \nThe Comptroller General of the United States shall conduct a study and analysis of the remittance transfer system, including an analysis of its impact on consumers.", "id": "H85B1785485BD4D72AA7190C0FC9246AF", "header": "Study", "nested": [], "links": [] }, { "text": "(b) Areas of consideration \nThe study conducted under this section shall include, to the extent that information is available— (1) an estimate of the total amount, in dollars, transmitted from individuals in the United States to other countries, including per country data, historical data, and any available projections concerning future remittance levels; (2) a comparison of the amount of remittance funds, in total and per country, to the amount of foreign trade, bilateral assistance, and multi-development bank programs involving each of the subject countries; (3) an analysis of the methods used to remit the funds, with estimates of the amounts remitted through each method and descriptive statistics for each method, such as market share, median transaction size, and cost per transaction, including through— (A) depository institutions; (B) postal money orders and other money orders; (C) automatic teller machines; (D) wire transfer services; and (E) personal delivery services; (4) an analysis of advantages and disadvantages of each remitting method listed in subparagraphs (A) through (E) of paragraph (3); (5) an analysis of the types and specificity of disclosures made by various types of remittance transaction providers to consumers who send remittances; and (6) if reliable data are unavailable, recommendations concerning options for the Congress to consider to improve the state of information on remittances from the United States.", "id": "H5DCEFDEA46434F72AA88B177480300E9", "header": "Areas of consideration", "nested": [], "links": [] }, { "text": "(c) Report to Congress \nBefore the end of the 1-year period beginning on the date of the enactment of this Act, the Comptroller General shall submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives on the results of the study conducted under this section.", "id": "HAC961ECEB559400BA011BCBEA904C7FD", "header": "Report to Congress", "nested": [], "links": [] } ], "links": [] } ]

[ "Administrative procedure", "Automated clearing houses", "Automated teller machines", "Bank accounts", "Bank loans", "Caribbean area", "Commerce", "Congress", "Congressional investigations", "Congressional reporting requirements", "Consumer education", "Consumer protection", "Credit unions", "Department of the Treasury", "Developing countries", "Development credit institutions", "Economic assistance", "Economic development", "Economic statistics", "Economics and Public Finance", "El Salvador", "Electronic funds transfers", "Electronic government information", "English language", "Federal Deposit Insurance Corporation", "Federal Reserve System", "Federal preemption", "Fees", "Financial institutions", "Financial services", "Foreign Trade and International Finance", "Foreign banks and banking", "Foreign exchange", "Foreign loans", "Government Operations and Politics", "Government paperwork", "Government publicity", "Housing and Community Development", "Housing finance", "International Affairs", "Jamaica", "Language and languages", "Latin America", "Law", "Licenses", "Mexico", "Mortgage banks", "Mortgages", "National Credit Union Administration", "Public service advertising", "Science, Technology, Communications", "Small business", "Standards", "State laws" ]

[ { "text": "1. Permanent resident status for Rona Ramon, Asaf Ramon, Tal Ramon, Yiftach Ramon, and Noah Ramon \n(a) In general \nNotwithstanding subsections (a) and (b) of section 201 of the Immigration and Nationality Act, Rona Ramon, Asaf Ramon, Tal Ramon, Yiftach Ramon, and Noah Ramon shall each be eligible for issuance of an immigrant visa or for adjustment of status to that of an alien lawfully admitted for permanent residence upon filing an application for issuance of an immigrant visa under section 204 of such Act or for adjustment of status to lawful permanent resident. (b) Adjustment of status \nIf Rona Ramon, Asaf Ramon, Tal Ramon, Yiftach Ramon, or Noah Ramon enters the United States before the filing deadline specified in subsection (c), he or she shall be considered to have entered and remained lawfully and shall, if otherwise eligible, be eligible for adjustment of status under section 245 of the Immigration and Nationality Act as of the date of the enactment of this Act. (c) Deadline for application and payment of fees \nSubsections (a) and (b) shall apply only if the application for issuance of an immigrant visa or the application for adjustment of status is filed with appropriate fees within 2 years after the date of the enactment of this Act. (d) Reduction of immigrant visa number \nUpon the granting of an immigrant visa or permanent residence to Rona Ramon, Asaf Ramon, Tal Ramon, Yiftach Ramon, and Noah Ramon, the Secretary of State shall instruct the proper officer to reduce by 5, during the current or next following fiscal year, the total number of immigrant visas that are made available to natives of the country of the aliens’ birth under section 203(a) of the Immigration and Nationality Act or, if applicable, the total number of immigrant visas that are made available to natives of the country of the aliens’ birth under section 202(e) of such Act. (e) Denial of preferential immigration treatment for certain relatives \nThe natural parents, brothers, and sisters of Rona Ramon, Asaf Ramon, Tal Ramon, Yiftach Ramon, and Noah Ramon shall not, by virtue of such relationship, be accorded any right, privilege, or status under the Immigration and Nationality Act.", "id": "H0CF36AB90F834F2280411289198D3635", "header": "Permanent resident status for Rona Ramon, Asaf Ramon, Tal Ramon, Yiftach Ramon, and Noah Ramon", "nested": [ { "text": "(a) In general \nNotwithstanding subsections (a) and (b) of section 201 of the Immigration and Nationality Act, Rona Ramon, Asaf Ramon, Tal Ramon, Yiftach Ramon, and Noah Ramon shall each be eligible for issuance of an immigrant visa or for adjustment of status to that of an alien lawfully admitted for permanent residence upon filing an application for issuance of an immigrant visa under section 204 of such Act or for adjustment of status to lawful permanent resident.", "id": "H8212847E14AF4ABC85743F188F1507D4", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Adjustment of status \nIf Rona Ramon, Asaf Ramon, Tal Ramon, Yiftach Ramon, or Noah Ramon enters the United States before the filing deadline specified in subsection (c), he or she shall be considered to have entered and remained lawfully and shall, if otherwise eligible, be eligible for adjustment of status under section 245 of the Immigration and Nationality Act as of the date of the enactment of this Act.", "id": "H5E6A8B53019A4DD0A68B5443E981B87", "header": "Adjustment of status", "nested": [], "links": [] }, { "text": "(c) Deadline for application and payment of fees \nSubsections (a) and (b) shall apply only if the application for issuance of an immigrant visa or the application for adjustment of status is filed with appropriate fees within 2 years after the date of the enactment of this Act.", "id": "H810AD776980142189CB6CD853608DA6B", "header": "Deadline for application and payment of fees", "nested": [], "links": [] }, { "text": "(d) Reduction of immigrant visa number \nUpon the granting of an immigrant visa or permanent residence to Rona Ramon, Asaf Ramon, Tal Ramon, Yiftach Ramon, and Noah Ramon, the Secretary of State shall instruct the proper officer to reduce by 5, during the current or next following fiscal year, the total number of immigrant visas that are made available to natives of the country of the aliens’ birth under section 203(a) of the Immigration and Nationality Act or, if applicable, the total number of immigrant visas that are made available to natives of the country of the aliens’ birth under section 202(e) of such Act.", "id": "H78463B80412145F8BB641100A39880EE", "header": "Reduction of immigrant visa number", "nested": [], "links": [] }, { "text": "(e) Denial of preferential immigration treatment for certain relatives \nThe natural parents, brothers, and sisters of Rona Ramon, Asaf Ramon, Tal Ramon, Yiftach Ramon, and Noah Ramon shall not, by virtue of such relationship, be accorded any right, privilege, or status under the Immigration and Nationality Act.", "id": "H23205127EBAA411F85ABB60FB6BDF34", "header": "Denial of preferential immigration treatment for certain relatives", "nested": [], "links": [] } ], "links": [] } ]

[ "Immigration" ]

[ { "text": "1. Suspension of duty on 1,2 Pentanediol \n(a) In general \nSubchapter II of chapter 99 of the Harmonized Tariff Schedule of the United States is amended by inserting in numerical sequence the following: 9902.34.33 1,2 Pentanediol (CAS No. 5343-02-0) (provided for in subheading 2905.39.90) Free No change No change On or before 12/31/2007. (b) Effective date \nThe amendment made by subsection (a) applies to articles entered, or withdrawn from warehouse for consumption, on or after the 15th day after the date of the enactment of this Act.", "id": "HE9A819FD362B41E691F2CED7F3993CB4", "header": "Suspension of duty on 1,2 Pentanediol", "nested": [ { "text": "(a) In general \nSubchapter II of chapter 99 of the Harmonized Tariff Schedule of the United States is amended by inserting in numerical sequence the following: 9902.34.33 1,2 Pentanediol (CAS No. 5343-02-0) (provided for in subheading 2905.39.90) Free No change No change On or before 12/31/2007.", "id": "H9BED87177BD5454FA0AFA3100A8D3C", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Effective date \nThe amendment made by subsection (a) applies to articles entered, or withdrawn from warehouse for consumption, on or after the 15th day after the date of the enactment of this Act.", "id": "H6DBFF21C40384A248ED91C6744832BCB", "header": "Effective date", "nested": [], "links": [] } ], "links": [] } ]

[ "Chemicals", "Tariff" ]

[ { "text": "1. Cross sound cable order \nNotwithstanding Department of Energy Order No. 202–03–4, issued by the Secretary of Energy on May 7, 2004, or any other provision of law, Department of Energy Order No. 202–03–2, issued by the Secretary of Energy on August 28, 2003, is reinstated effective on the date of enactment of this Act and shall remain in effect unless rescinded by Act of Congress.", "id": "HDF93AF39F62B459FA8E4D6576D003451", "header": "Cross sound cable order", "nested": [], "links": [] } ]

[ "Administrative procedure", "Connecticut", "Department of Energy", "Electric power distribution", "Electric power transmission", "Government Operations and Politics", "Law", "Long Island Sound", "New York State" ]

[ { "text": "1. Short title \nThis Act may be cited as the Alaska Native Allotment Subdivision Act.", "id": "H78D4C6DB4CB24CB68E379482A601E3DE", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Definitions \nIn this Act: (1) Restricted land \nThe term restricted land means land in the State that is subject to Federal restrictions against alienation and taxation. (2) Secretary \nThe term Secretary means the Secretary of the Interior. (3) State \nThe term State means the State of Alaska.", "id": "HC419F036770E4395B35C4FBDE7575025", "header": "Definitions", "nested": [], "links": [] }, { "text": "3. Subdivision and dedication of Alaska Native restricted land \n(a) In general \nAn Alaska Native owner of restricted land may, subject to the approval of the Secretary— (1) subdivide the restricted land in accordance with the laws of the— (A) State; or (B) applicable local platting authority; and (2) execute a certificate of ownership and dedication with respect to the restricted land subdivided under paragraph (1) with the same effect under State law as if the restricted land subdivided and dedicated were held by unrestricted fee simple title. (b) Ratification of prior subdivisions and dedications \nAny subdivision or dedication of restricted land executed before the date of enactment of this Act that has been approved by the Secretary and by the relevant State or local platting authority, as appropriate, shall be considered to be ratified and confirmed by Congress as of the date on which the Secretary approved the subdivision or dedication.", "id": "H2E44082E468B4CA6BB73226E00F67677", "header": "Subdivision and dedication of Alaska Native restricted land", "nested": [ { "text": "(a) In general \nAn Alaska Native owner of restricted land may, subject to the approval of the Secretary— (1) subdivide the restricted land in accordance with the laws of the— (A) State; or (B) applicable local platting authority; and (2) execute a certificate of ownership and dedication with respect to the restricted land subdivided under paragraph (1) with the same effect under State law as if the restricted land subdivided and dedicated were held by unrestricted fee simple title.", "id": "HC4B9435C7E924A879B00B9D54C8312F6", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Ratification of prior subdivisions and dedications \nAny subdivision or dedication of restricted land executed before the date of enactment of this Act that has been approved by the Secretary and by the relevant State or local platting authority, as appropriate, shall be considered to be ratified and confirmed by Congress as of the date on which the Secretary approved the subdivision or dedication.", "id": "H91A2C59862B84DC9B6D6723D33DBA690", "header": "Ratification of prior subdivisions and dedications", "nested": [], "links": [] } ], "links": [] }, { "text": "4. Effect on status of land not dedicated \nExcept in a case in which a specific interest in restricted land is dedicated under section 3(a)(2), nothing in this Act terminates, diminishes, or otherwise affects the continued existence and applicability of Federal restrictions against alienation and taxation on restricted land or interests in restricted land (including restricted land subdivided under section 3(a)(1)).", "id": "H5DDFCA45C9DA45529C3021C385B8BBE8", "header": "Effect on status of land not dedicated", "nested": [], "links": [] } ]

[ "Alaska", "Federal-Indian relations", "Government Operations and Politics", "Indian lands", "Indigenous peoples", "Land subdivision", "Land transfers", "Land use", "Local laws", "Minorities", "Public Lands and Natural Resources", "State laws" ]

[ { "text": "1. Short title \nThis Act may be cited as the International Space Station Independent Safety Commission Act of 2004.", "id": "HBECB2271F4FA4FDD8B142E1EA05E0092", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Definitions \nFor purposes of this Act— (1) the term Commission means the Commission established under this Act; (2) the term ISS means the International Space Station; (3) the term NASA means the National Aeronautics and Space Administration; (4) the term NASA Administrator means the Administrator of NASA; and (5) the term NTSB means the National Transportation Safety Board.", "id": "HF0BD2F41B76A446481EF06F416DCF016", "header": "Definitions", "nested": [], "links": [] }, { "text": "3. Establishment of Commission \n(a) Establishment \nThe President shall establish an independent, nonpartisan Commission within the executive branch to discover and assess any vulnerabilities of the International Space Station that could lead to its destruction, compromise the health of its crew, or necessitate its premature abandonment. (b) Deadline for establishment \nThe President shall issue an executive order establishing a Commission within 30 days after the date of enactment of this Act.", "id": "HAC14E877EAB541C1A0C569DA1C37AF2F", "header": "Establishment of Commission", "nested": [ { "text": "(a) Establishment \nThe President shall establish an independent, nonpartisan Commission within the executive branch to discover and assess any vulnerabilities of the International Space Station that could lead to its destruction, compromise the health of its crew, or necessitate its premature abandonment.", "id": "H54CE567ED89C41F2BF838679E507DA6F", "header": "Establishment", "nested": [], "links": [] }, { "text": "(b) Deadline for establishment \nThe President shall issue an executive order establishing a Commission within 30 days after the date of enactment of this Act.", "id": "H7592359106D443D896363D43F6AECD8C", "header": "Deadline for establishment", "nested": [], "links": [] } ], "links": [] }, { "text": "4. Composition of Commission \n(a) Number of commissioners \nThe Commission shall consist of 15 members. (b) Selection \nThe members of the Commission shall be chosen in the following manner: (1) The Chairman of the NTSB shall be a member of the Commission. (2) The President shall appoint the remaining 14 members, and shall designate the Chairman and Vice Chairman of the Commission from among its members. (3) Five of the 14 members appointed by the President shall be selected by the President in the following manner: (A) The majority leader of the Senate, the minority leader of the Senate, the Speaker of the House of Representatives, the minority leader of the House of Representatives, and the President of the collective-bargaining organization including the largest number of NASA engineers, shall each provide to the President a list of candidates for membership on the Commission. (B) The President shall select one of the candidates from each of the 5 lists for membership on the Commission. (4) (A) With the exception of the Chairman of the NTSB, no officer or employee of the Federal Government shall serve as a member of the Commission. (B) No member of the Commission shall have, or have pending, a contractual relationship with NASA. (C) The President may waive the prohibitions in subparagraphs (A) and (B) with respect to the selection of not more than 2 members of the Commission. (5) The President shall not appoint any individual as a member of the Commission who has a current or former relationship with the NASA Administrator that the President determines would constitute a conflict of interest. (6) To the extent practicable, the President shall ensure that the members of the Commission include some individuals with experience relative to human-carrying spacecraft, as well as some individuals with investigative experience and some individuals with legal experience. (7) To the extent practicable, the President shall seek diversity in the membership of the Commission. (c) Deadline for appointment \nAll members of the Commission shall be appointed no later than 60 days after issuance of the executive order establishing the Commission. (d) Initial meeting \nThe Commission shall meet and begin operations as soon as practicable. (e) Quorum; vacancies \nAfter its initial meeting, the Commission shall meet upon the call of the Chairman or a majority of its members. Eight members of the Commission shall constitute a quorum. Any vacancy in the Commission shall not affect its powers, but shall be filled in the same manner in which the original appointment was made.", "id": "H04CA053C8C1D431890E8F2001CF32137", "header": "Composition of Commission", "nested": [ { "text": "(a) Number of commissioners \nThe Commission shall consist of 15 members.", "id": "H75B510B9FD2C4904B435AA350000A762", "header": "Number of commissioners", "nested": [], "links": [] }, { "text": "(b) Selection \nThe members of the Commission shall be chosen in the following manner: (1) The Chairman of the NTSB shall be a member of the Commission. (2) The President shall appoint the remaining 14 members, and shall designate the Chairman and Vice Chairman of the Commission from among its members. (3) Five of the 14 members appointed by the President shall be selected by the President in the following manner: (A) The majority leader of the Senate, the minority leader of the Senate, the Speaker of the House of Representatives, the minority leader of the House of Representatives, and the President of the collective-bargaining organization including the largest number of NASA engineers, shall each provide to the President a list of candidates for membership on the Commission. (B) The President shall select one of the candidates from each of the 5 lists for membership on the Commission. (4) (A) With the exception of the Chairman of the NTSB, no officer or employee of the Federal Government shall serve as a member of the Commission. (B) No member of the Commission shall have, or have pending, a contractual relationship with NASA. (C) The President may waive the prohibitions in subparagraphs (A) and (B) with respect to the selection of not more than 2 members of the Commission. (5) The President shall not appoint any individual as a member of the Commission who has a current or former relationship with the NASA Administrator that the President determines would constitute a conflict of interest. (6) To the extent practicable, the President shall ensure that the members of the Commission include some individuals with experience relative to human-carrying spacecraft, as well as some individuals with investigative experience and some individuals with legal experience. (7) To the extent practicable, the President shall seek diversity in the membership of the Commission.", "id": "HC1CA3B1B1F6441D2A6A169E37C937EBC", "header": "Selection", "nested": [], "links": [] }, { "text": "(c) Deadline for appointment \nAll members of the Commission shall be appointed no later than 60 days after issuance of the executive order establishing the Commission.", "id": "HB15C6674457546ACB424F69DE41ED2F8", "header": "Deadline for appointment", "nested": [], "links": [] }, { "text": "(d) Initial meeting \nThe Commission shall meet and begin operations as soon as practicable.", "id": "HC65D986E0C1544FA9E12594179F5C2B", "header": "Initial meeting", "nested": [], "links": [] }, { "text": "(e) Quorum; vacancies \nAfter its initial meeting, the Commission shall meet upon the call of the Chairman or a majority of its members. Eight members of the Commission shall constitute a quorum. Any vacancy in the Commission shall not affect its powers, but shall be filled in the same manner in which the original appointment was made.", "id": "H1E21E7E669CB4AFD90BC8DBDB4DD6F75", "header": "Quorum; vacancies", "nested": [], "links": [] } ], "links": [] }, { "text": "5. Tasks of the Commission \nThe Commission shall, to the extent possible, undertake the following tasks: (1) Catalog threats to and vulnerabilities of the ISS, including design flaws, natural phenomena, computer software or hardware flaws, sabotage or terrorist attack, number of crewmembers, and inability to adequately deliver replacement parts and supplies, and management or procedural deficiencies. (2) Make recommendations for corrective actions. (3) Provide any additional findings or recommendations considered by the Commission to be important, whether or not they are related to ISS safety. (4) Prepare a report to Congress, the President, and the public.", "id": "H0CB0346FBD6143C7A7AF72047C42E06F", "header": "Tasks of the Commission", "nested": [], "links": [] }, { "text": "6. Powers of Commission \n(a) In general \n(1) Hearings and evidence \nThe Commission or, on the authority of the Commission, any subcommittee or member thereof, may, for the purpose of carrying out this Act— (A) hold such hearings and sit and act at such times and places, take such testimony, receive such evidence, administer such oaths; and (B) subject to paragraph (2)(A), require, by subpoena or otherwise, the attendance and testimony of such witnesses and the production of such books, records, correspondence, memoranda, papers, and documents, as the Commission or such designated subcommittee or designated member may determine advisable. (2) Subpoenas \n(A) Issuance \n(i) In general \nA subpoena may be issued under this subsection only— (I) by the agreement of the Chairman and the Vice Chairman; or (II) by the affirmative vote of 8 members of the Commission. (ii) Signature \nSubject to clause (i), subpoenas issued under this subsection may be issued under the signature of the Chairman or any member designated by a majority of the Commission, and may be served by any person designated by the Chairman or by a member designated by a majority of the Commission. (B) Enforcement \n(i) In general \nIn the case of contumacy or failure to obey a subpoena issued under subparagraph (A), the United States district court for the judicial district in which the subpoenaed person resides, is served, or may be found, or where the subpoena is returnable, may issue an order requiring such person to appear at any designated place to testify or to produce documentary or other evidence. Any failure to obey the order of the court may be punished by the court as a contempt of that court. (ii) Additional enforcement \nIn the case of a failure of a witness to comply with a subpoena or to testify when summoned under authority of this section, the Commission may, by majority vote, certify a statement of fact constituting such failure to the appropriate United States attorney, who may bring the matter before a grand jury for its action, under the same statutory authority and procedures as if the United States attorney had received a certification under sections 102 through 104 of the Revised Statutes of the United States (2 U.S.C. 192 through 194). (b) Contracting \nThe Commission may, to such extent and in such amounts as are provided in appropriation Acts, enter into contracts to enable the Commission to discharge its duties under this Act. (c) Information from federal agencies \n(1) In general \nThe Commission may secure directly from any executive department, bureau, agency, board, commission, office, independent establishment, or instrumentality of the Government, information, suggestions, estimates, and statistics for the purposes of this Act. Each department, bureau, agency, board, commission, office, independent establishment, or instrumentality shall, to the extent authorized by law, furnish such information, suggestions, estimates, and statistics directly to the Commission, upon request made by the Chairman, the chairman of any subcommittee created by a majority of the Commission, or any member designated by a majority of the Commission. (2) Receipt, handling, storage, and dissemination \nInformation shall be received, handled, stored, and disseminated by members of the Commission and its staff consistent with all applicable statutes, regulations, and Executive orders. (d) Assistance from federal agencies \n(1) General services administration \nThe Administrator of General Services shall provide to the Commission on a reimbursable basis administrative support and other services for the performance of the Commission’s tasks. (2) Other departments and agencies \nIn addition to the assistance prescribed in paragraph (1), departments and agencies of the United States may provide to the Commission such services, funds, facilities, staff, and other support services as they may determine advisable and as may be authorized by law. (3) NASA engineering and safety center \nThe NASA Engineering and Safety Center shall provide data and technical support as requested by the Commission. (e) Postal services \nThe Commission may use the United States mails in the same manner and under the same conditions as departments and agencies of the United States.", "id": "H46307AFE7DE848E58100464DD43DA15E", "header": "Powers of Commission", "nested": [ { "text": "(a) In general \n(1) Hearings and evidence \nThe Commission or, on the authority of the Commission, any subcommittee or member thereof, may, for the purpose of carrying out this Act— (A) hold such hearings and sit and act at such times and places, take such testimony, receive such evidence, administer such oaths; and (B) subject to paragraph (2)(A), require, by subpoena or otherwise, the attendance and testimony of such witnesses and the production of such books, records, correspondence, memoranda, papers, and documents, as the Commission or such designated subcommittee or designated member may determine advisable. (2) Subpoenas \n(A) Issuance \n(i) In general \nA subpoena may be issued under this subsection only— (I) by the agreement of the Chairman and the Vice Chairman; or (II) by the affirmative vote of 8 members of the Commission. (ii) Signature \nSubject to clause (i), subpoenas issued under this subsection may be issued under the signature of the Chairman or any member designated by a majority of the Commission, and may be served by any person designated by the Chairman or by a member designated by a majority of the Commission. (B) Enforcement \n(i) In general \nIn the case of contumacy or failure to obey a subpoena issued under subparagraph (A), the United States district court for the judicial district in which the subpoenaed person resides, is served, or may be found, or where the subpoena is returnable, may issue an order requiring such person to appear at any designated place to testify or to produce documentary or other evidence. Any failure to obey the order of the court may be punished by the court as a contempt of that court. (ii) Additional enforcement \nIn the case of a failure of a witness to comply with a subpoena or to testify when summoned under authority of this section, the Commission may, by majority vote, certify a statement of fact constituting such failure to the appropriate United States attorney, who may bring the matter before a grand jury for its action, under the same statutory authority and procedures as if the United States attorney had received a certification under sections 102 through 104 of the Revised Statutes of the United States (2 U.S.C. 192 through 194).", "id": "H5D4EF4C039124812900067941152FD2E", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Contracting \nThe Commission may, to such extent and in such amounts as are provided in appropriation Acts, enter into contracts to enable the Commission to discharge its duties under this Act.", "id": "HE1DDB5C94CBD4562003614BB6C99DB2D", "header": "Contracting", "nested": [], "links": [] }, { "text": "(c) Information from federal agencies \n(1) In general \nThe Commission may secure directly from any executive department, bureau, agency, board, commission, office, independent establishment, or instrumentality of the Government, information, suggestions, estimates, and statistics for the purposes of this Act. Each department, bureau, agency, board, commission, office, independent establishment, or instrumentality shall, to the extent authorized by law, furnish such information, suggestions, estimates, and statistics directly to the Commission, upon request made by the Chairman, the chairman of any subcommittee created by a majority of the Commission, or any member designated by a majority of the Commission. (2) Receipt, handling, storage, and dissemination \nInformation shall be received, handled, stored, and disseminated by members of the Commission and its staff consistent with all applicable statutes, regulations, and Executive orders.", "id": "H5108F806C53242DC9600A1B46905DEB1", "header": "Information from federal agencies", "nested": [], "links": [] }, { "text": "(d) Assistance from federal agencies \n(1) General services administration \nThe Administrator of General Services shall provide to the Commission on a reimbursable basis administrative support and other services for the performance of the Commission’s tasks. (2) Other departments and agencies \nIn addition to the assistance prescribed in paragraph (1), departments and agencies of the United States may provide to the Commission such services, funds, facilities, staff, and other support services as they may determine advisable and as may be authorized by law. (3) NASA engineering and safety center \nThe NASA Engineering and Safety Center shall provide data and technical support as requested by the Commission.", "id": "HD8B67DAC4BFE4003AFA144996309A129", "header": "Assistance from federal agencies", "nested": [], "links": [] }, { "text": "(e) Postal services \nThe Commission may use the United States mails in the same manner and under the same conditions as departments and agencies of the United States.", "id": "HCCA3D56EA23D4E99B393A1A26F96E923", "header": "Postal services", "nested": [], "links": [] } ], "links": [] }, { "text": "7. Public meetings, information, and hearings \n(a) Public meetings and release of public versions of reports \nThe Commission shall— (1) hold public hearings and meetings to the extent appropriate; and (2) release public versions of the reports required under this Act. (b) Public hearings \nAny public hearings of the Commission shall be conducted in a manner consistent with the protection of information provided to or developed for or by the Commission as required by any applicable statute, regulation, or Executive order.", "id": "H4F472123B2664FEEB99CD2C03FFC6407", "header": "Public meetings, information, and hearings", "nested": [ { "text": "(a) Public meetings and release of public versions of reports \nThe Commission shall— (1) hold public hearings and meetings to the extent appropriate; and (2) release public versions of the reports required under this Act.", "id": "H3EB380C480BE4224A3392B9908364C9F", "header": "Public meetings and release of public versions of reports", "nested": [], "links": [] }, { "text": "(b) Public hearings \nAny public hearings of the Commission shall be conducted in a manner consistent with the protection of information provided to or developed for or by the Commission as required by any applicable statute, regulation, or Executive order.", "id": "H1B5563FD26C842B28D00BBF0D81D9033", "header": "Public hearings", "nested": [], "links": [] } ], "links": [] }, { "text": "8. Staff of Commission \n(a) In general \n(1) Appointment and compensation \nThe Chairman, in consultation with Vice Chairman, in accordance with rules agreed upon by the Commission, may appoint and fix the compensation of a staff director and such other personnel as may be necessary to enable the Commission to carry out its functions, without regard to the provisions of title 5, United States Code, governing appointments in the competitive service, and without regard to the provisions of chapter 51 and subchapter III of chapter 53 of such title relating to classification and General Schedule pay rates, except that no rate of pay fixed under this paragraph may exceed the equivalent of that payable for a position at level V of the Executive Schedule under section 5316 of title 5, United States Code. Employees of NASA shall not be appointed to the staff of the Commission. (2) Personnel as federal employees \n(A) In general \nThe executive director and any personnel of the Commission shall be considered employees under section 2105 of title 5, United States Code, for purposes of chapters 63, 81, 83, 84, 85, 87, 89, and 90 of that title. (B) Members of commission \nSubparagraph (A) does not apply to members of the Commission. (b) Detailees \nAny Federal Government employee, except for an employee of NASA, may be detailed to the Commission without reimbursement from the Commission, and such detailee shall retain the rights, status, and privileges of his or her regular employment without interruption. (c) Consultant services \nThe Commission may procure the services of experts and consultants in accordance with section 3109 of title 5, United States Code, but at rates not to exceed the daily rate paid a person occupying a position at level IV of the Executive Schedule under section 5315 of title 5, United States Code. Any consultant or expert whose services are procured under this subsection shall disclose any contract or association it has with NASA or any NASA contractor.", "id": "H3569FA02973F4FF298447BCC714BFA35", "header": "Staff of Commission", "nested": [ { "text": "(a) In general \n(1) Appointment and compensation \nThe Chairman, in consultation with Vice Chairman, in accordance with rules agreed upon by the Commission, may appoint and fix the compensation of a staff director and such other personnel as may be necessary to enable the Commission to carry out its functions, without regard to the provisions of title 5, United States Code, governing appointments in the competitive service, and without regard to the provisions of chapter 51 and subchapter III of chapter 53 of such title relating to classification and General Schedule pay rates, except that no rate of pay fixed under this paragraph may exceed the equivalent of that payable for a position at level V of the Executive Schedule under section 5316 of title 5, United States Code. Employees of NASA shall not be appointed to the staff of the Commission. (2) Personnel as federal employees \n(A) In general \nThe executive director and any personnel of the Commission shall be considered employees under section 2105 of title 5, United States Code, for purposes of chapters 63, 81, 83, 84, 85, 87, 89, and 90 of that title. (B) Members of commission \nSubparagraph (A) does not apply to members of the Commission.", "id": "HFD7E75530DF844EA00007CAFEE36DE68", "header": "In general", "nested": [], "links": [ { "text": "section 5316", "legal-doc": "usc", "parsable-cite": "usc/5/5316" }, { "text": "section 2105", "legal-doc": "usc", "parsable-cite": "usc/5/2105" } ] }, { "text": "(b) Detailees \nAny Federal Government employee, except for an employee of NASA, may be detailed to the Commission without reimbursement from the Commission, and such detailee shall retain the rights, status, and privileges of his or her regular employment without interruption.", "id": "H1E2FC0C5E7CC4987A21C2D96832957D7", "header": "Detailees", "nested": [], "links": [] }, { "text": "(c) Consultant services \nThe Commission may procure the services of experts and consultants in accordance with section 3109 of title 5, United States Code, but at rates not to exceed the daily rate paid a person occupying a position at level IV of the Executive Schedule under section 5315 of title 5, United States Code. Any consultant or expert whose services are procured under this subsection shall disclose any contract or association it has with NASA or any NASA contractor.", "id": "HC0142166C2AD4C19ADAA180C2749C23", "header": "Consultant services", "nested": [], "links": [ { "text": "section 3109", "legal-doc": "usc", "parsable-cite": "usc/5/3109" }, { "text": "section 5315", "legal-doc": "usc", "parsable-cite": "usc/5/5315" } ] } ], "links": [ { "text": "section 5316", "legal-doc": "usc", "parsable-cite": "usc/5/5316" }, { "text": "section 2105", "legal-doc": "usc", "parsable-cite": "usc/5/2105" }, { "text": "section 3109", "legal-doc": "usc", "parsable-cite": "usc/5/3109" }, { "text": "section 5315", "legal-doc": "usc", "parsable-cite": "usc/5/5315" } ] }, { "text": "9. Compensation and travel expenses \n(a) Compensation \nEach member of the Commission may be compensated at not to exceed the daily equivalent of the annual rate of basic pay in effect for a position at level IV of the Executive Schedule under section 5315 of title 5, United States Code, for each day during which that member is engaged in the actual performance of the duties of the Commission. (b) Travel expenses \nWhile away from their homes or regular places of business in the performance of services for the Commission, members of the Commission shall be allowed travel expenses, including per diem in lieu of subsistence, in the same manner as persons employed intermittently in the Government service are allowed expenses under section 5703(b) of title 5, United States Code.", "id": "HACDBB044AD1342578D76ADE87CAD3F81", "header": "Compensation and travel expenses", "nested": [ { "text": "(a) Compensation \nEach member of the Commission may be compensated at not to exceed the daily equivalent of the annual rate of basic pay in effect for a position at level IV of the Executive Schedule under section 5315 of title 5, United States Code, for each day during which that member is engaged in the actual performance of the duties of the Commission.", "id": "H8C6B09E6C084433D87EE7619AC530009", "header": "Compensation", "nested": [], "links": [ { "text": "section 5315", "legal-doc": "usc", "parsable-cite": "usc/5/5315" } ] }, { "text": "(b) Travel expenses \nWhile away from their homes or regular places of business in the performance of services for the Commission, members of the Commission shall be allowed travel expenses, including per diem in lieu of subsistence, in the same manner as persons employed intermittently in the Government service are allowed expenses under section 5703(b) of title 5, United States Code.", "id": "H1A476A51BBF544208587AC2CCF9E8843", "header": "Travel expenses", "nested": [], "links": [ { "text": "section 5703(b)", "legal-doc": "usc", "parsable-cite": "usc/5/5703" } ] } ], "links": [ { "text": "section 5315", "legal-doc": "usc", "parsable-cite": "usc/5/5315" }, { "text": "section 5703(b)", "legal-doc": "usc", "parsable-cite": "usc/5/5703" } ] }, { "text": "10. Security clearances for commission members and staff \nThe appropriate Federal agencies or departments shall cooperate with the Commission in expeditiously providing to the Commission members and staff appropriate security clearances to the extent possible pursuant to existing procedures and requirements. No person shall be provided with access to classified information under this Act without the appropriate security clearances.", "id": "HFC1F896CA1F74D81879251C377C25129", "header": "Security clearances for commission members and staff", "nested": [], "links": [] }, { "text": "11. Reporting requirements and termination \n(a) Interim reports \nThe Commission may submit to the President and Congress interim reports containing such findings, conclusions, and recommendations for corrective actions as have been agreed to by a majority of Commission members. (b) Final report \nThe Commission shall submit to the President and Congress, and make concurrently available to the public, a final report containing such findings, conclusions, and recommendations for corrective actions as have been agreed to by a majority of Commission members. Such report shall include any minority views or opinions not reflected in the majority report. (c) Termination \n(1) In general \nThe Commission, and all the authorities of this Act with respect to the Commission, shall terminate 60 days after the date on which the final report is submitted under subsection (b). (2) Administrative activities before termination \nThe Commission may use the 60-day period referred to in paragraph (1) for the purpose of concluding its activities, including providing testimony to committees of Congress concerning its reports and disseminating the final report. (d) National Academy of Sciences review \nThe NASA Administrator shall enter into an arrangement with the National Academy of Sciences for a review of compliance with the recommendations of the Commission. The National Academy of Sciences may consult with former members of the Commission as appropriate. The NASA Administrator shall transmit a report to the Congress containing the results of the review not later than 18 months after the date the final report of the Commission is submitted under section 11(b).", "id": "H205482182D65426CB9D635C2C6F7861B", "header": "Reporting requirements and termination", "nested": [ { "text": "(a) Interim reports \nThe Commission may submit to the President and Congress interim reports containing such findings, conclusions, and recommendations for corrective actions as have been agreed to by a majority of Commission members.", "id": "H4B7CB09C5662460196643041F0222926", "header": "Interim reports", "nested": [], "links": [] }, { "text": "(b) Final report \nThe Commission shall submit to the President and Congress, and make concurrently available to the public, a final report containing such findings, conclusions, and recommendations for corrective actions as have been agreed to by a majority of Commission members. Such report shall include any minority views or opinions not reflected in the majority report.", "id": "H0A89A8A8AAD64AAB92391600343275BC", "header": "Final report", "nested": [], "links": [] }, { "text": "(c) Termination \n(1) In general \nThe Commission, and all the authorities of this Act with respect to the Commission, shall terminate 60 days after the date on which the final report is submitted under subsection (b). (2) Administrative activities before termination \nThe Commission may use the 60-day period referred to in paragraph (1) for the purpose of concluding its activities, including providing testimony to committees of Congress concerning its reports and disseminating the final report.", "id": "HEA9C12B5970742A893FDBE70E43745C", "header": "Termination", "nested": [], "links": [] }, { "text": "(d) National Academy of Sciences review \nThe NASA Administrator shall enter into an arrangement with the National Academy of Sciences for a review of compliance with the recommendations of the Commission. The National Academy of Sciences may consult with former members of the Commission as appropriate. The NASA Administrator shall transmit a report to the Congress containing the results of the review not later than 18 months after the date the final report of the Commission is submitted under section 11(b).", "id": "HFFCD3CF90CBC443DA96372A683D30049", "header": "National Academy of Sciences review", "nested": [], "links": [] } ], "links": [] }, { "text": "12. Funding \nSuch sums as are necessary to carry out this Act are authorized to be appropriated. Sums authorized by this Act shall remain available until the termination of the Commission.", "id": "H8AC4047196DF418382546E2B1198A212", "header": "Funding", "nested": [], "links": [] } ]

[ "Accident prevention", "Armed Forces and National Security", "Astronautics", "Astronauts", "Computer software", "Computers", "Congress", "Congressional reporting requirements", "Crime and Law Enforcement", "Emergency Management", "Federal advisory bodies", "Government Operations and Politics", "Government publicity", "Governmental investigations", "International Affairs", "International cooperation in astronautics", "Presidential commissions", "Sabotage", "Space activities", "Space stations", "Terrorism", "Transportation and Public Works", "Transportation safety" ]

[ { "text": "1. Short title and table of contents \n(a) Short title \nThis Act may be cited as the Retirement Enhancement Revenue Act of 2004. (b) Table of contents \nThe table of contents is as follows: Sec. 1. Short title and table of contents Title I—Public employee pension plans Sec. 101. New qualification requirements for public employee pension plans Title II—Pension improvements Sec. 201. Automatic enrollment of all employees in 401(k) plans Sec. 202. Diversification requirements for defined contribution plans that hold employer securities Sec. 203. Improvements in simplified employee pensions Sec. 204. Pension integration rules Sec. 205. Increase to age 75 for beginning mandatory distributions Sec. 206. Restrictions on exclusion of unionized employees from participation in 401(k) plans Sec. 207. Removal of $5,000 limit on plans subject to automatic rollover upon mandatory distribution Title III—Tax credits to promote pension coverage Sec. 301. Savers credit made refundable and permanent Sec. 302. Credit for qualified pension plan contributions of small employers Sec. 303. Notice Title IV—Improved pension protections for women Sec. 401. Modifications of joint and survivor annuity requirements Sec. 402. Entitlement of divorced spouses to railroad retirement annuities independent of actual entitlement of employee Sec. 403. Extension of tier II railroad retirement benefits to surviving former spouses pursuant to divorce agreements Title V—Defined benefit plans which include qualified cash or deferred arrangements Sec. 501. Defined benefit plan with deferred compensation arrangement in a single plan Sec. 502. Defined benefit accruals satisfy 401(k) safe harbor Sec. 503. Additional accruals under defined benefit plan provided as matching contributions Sec. 504. Limitation on deductions where combination of defined contribution plan and defined benefit plan Sec. 505. Conforming amendments to the Employee Retirement Income Security Act of 1974 Title VI—Additional amendments Sec. 601. Exemption from prohibited transaction rules for certain aborted emergent transactions Sec. 602. Loans from retirement plans for health insurance and job training expenses Sec. 603. Treatment of unclaimed benefits Sec. 604. Income averaging of corrected civil service annuity benefit payments Sec. 605. Prohibited transaction exemption for the provision of investment advice Sec. 606. Increase in deductible contributions to single-employer defined benefit plan upon payment of increased premium to the Pension Benefit Guaranty Corporation Sec. 607. Exemption from prohibited transaction rules for certain aborted emergent transactions Sec. 608. Pension benefit information Sec. 609. Permanency of transition rule in Retirement Protection Act of 1994 Title VII—General provisions Sec. 701. General effective date Sec. 702. Plan amendments", "id": "H3F1883602FDF4E4FBE4785DCF6DA055E", "header": "Short title and table of contents", "nested": [ { "text": "(a) Short title \nThis Act may be cited as the Retirement Enhancement Revenue Act of 2004.", "id": "H31D8A96B3C1E4C2D96E154E5517C65C4", "header": "Short title", "nested": [], "links": [] }, { "text": "(b) Table of contents \nThe table of contents is as follows: Sec. 1. Short title and table of contents Title I—Public employee pension plans Sec. 101. New qualification requirements for public employee pension plans Title II—Pension improvements Sec. 201. Automatic enrollment of all employees in 401(k) plans Sec. 202. Diversification requirements for defined contribution plans that hold employer securities Sec. 203. Improvements in simplified employee pensions Sec. 204. Pension integration rules Sec. 205. Increase to age 75 for beginning mandatory distributions Sec. 206. Restrictions on exclusion of unionized employees from participation in 401(k) plans Sec. 207. Removal of $5,000 limit on plans subject to automatic rollover upon mandatory distribution Title III—Tax credits to promote pension coverage Sec. 301. Savers credit made refundable and permanent Sec. 302. Credit for qualified pension plan contributions of small employers Sec. 303. Notice Title IV—Improved pension protections for women Sec. 401. Modifications of joint and survivor annuity requirements Sec. 402. Entitlement of divorced spouses to railroad retirement annuities independent of actual entitlement of employee Sec. 403. Extension of tier II railroad retirement benefits to surviving former spouses pursuant to divorce agreements Title V—Defined benefit plans which include qualified cash or deferred arrangements Sec. 501. Defined benefit plan with deferred compensation arrangement in a single plan Sec. 502. Defined benefit accruals satisfy 401(k) safe harbor Sec. 503. Additional accruals under defined benefit plan provided as matching contributions Sec. 504. Limitation on deductions where combination of defined contribution plan and defined benefit plan Sec. 505. Conforming amendments to the Employee Retirement Income Security Act of 1974 Title VI—Additional amendments Sec. 601. Exemption from prohibited transaction rules for certain aborted emergent transactions Sec. 602. Loans from retirement plans for health insurance and job training expenses Sec. 603. Treatment of unclaimed benefits Sec. 604. Income averaging of corrected civil service annuity benefit payments Sec. 605. Prohibited transaction exemption for the provision of investment advice Sec. 606. Increase in deductible contributions to single-employer defined benefit plan upon payment of increased premium to the Pension Benefit Guaranty Corporation Sec. 607. Exemption from prohibited transaction rules for certain aborted emergent transactions Sec. 608. Pension benefit information Sec. 609. Permanency of transition rule in Retirement Protection Act of 1994 Title VII—General provisions Sec. 701. General effective date Sec. 702. Plan amendments", "id": "H1BAA8D34C92F44D3A3331D8448053F5C", "header": "Table of contents", "nested": [], "links": [] } ], "links": [] }, { "text": "101. New qualification requirements for public employee pension plans \n(a) In general \nSubsection (a) of section 401 of the Internal Revenue Code of 1986 (relating to requirements for qualification) is amended by inserting after paragraph (34) the following new paragraph: (35) Public employee pension plans \nA trust forming a part of a public employee pension plan (as defined in section 420C(a)(9)) shall not constitute a qualified trust under this section unless the requirements of subpart F of this part are met in connection with such plan. (b) Requirements \nPart I of subchapter D of chapter 1 of such Code (relating to pension, profit-sharing, stock bonus plans, etc.) is amended by inserting after subpart E the following new subpart: F Public employee pension plans \nSec. 420A. Reporting and disclosure requirements Sec. 420B. Review by qualified review boards of changes in employer contributions Sec. 420C. Definitions and coverage 420A. Reporting and disclosure requirements \n(a) In general \nA public employee pension plan does not meet the requirements of section 401(a)(35) unless the terms of the plan include the requirements of this section. (b) Required disclosures \nThe plan shall provide that, within 210 days after the close of each plan year, the administrator of the plan shall furnish to each participant, and to each beneficiary receiving benefits under the plan— (1) a statement of the assets and liabilities of the plan aggregated by categories and valued at their current value, and the same data displayed in comparative form for the end of the previous plan year, (2) a statement of receipts and disbursements during the preceding 12-month period aggregated by general sources and applications, (3) a report containing— (A) a description of all investments and assets of the plan, including their value, (B) the names and positions of all of the trustees of the plan, and the time remaining before the expiration of their term, (C) a description of the method of trustee selection, (D) a description of any changes in investment policy of the plan during the fiscal year, (E) an evaluation of the long-term solvency of the plan, including the number of participants and beneficiaries and a summary of their benefits, and a projection of the amount of benefits expected to be paid for the fifth, tenth, and fifteenth plan year following the date of the publication of the report, and (F) the percentage which the current value of the assets of the plan is of the current liability under the plan, and (4) any other material as is necessary to fairly summarize the latest annual report. Such information shall be written and calculated to be understood by the average plan participant, and shall be sufficiently accurate and comprehensive to reasonably apprise such participants and beneficiaries of their rights and obligations under the plan. (c) Availability of plan documents for examination \nThe plan shall provide that the administrator shall make copies of the plan description and the latest annual report and the bargaining agreement, trust agreement, contract, or other instruments under which the plan was established or is operated available for examination by any plan participant or beneficiary in the principal office of the administrator and in such other places as may be necessary to make available all pertinent information to all participants (including such places as the Secretary may prescribe by regulations). (d) Availability of information upon request \nThe plan shall provide that the administrator shall, upon written request of any participant or beneficiary, furnish a copy of the latest annual report, any terminal report, the bargaining agreement, trust agreement, contract, or other instruments under which the plan is established or operated. The administrator may make a reasonable charge to cover the cost of furnishing such complete copies. The Secretary may by regulation prescribe the maximum amount which will constitute a reasonable charge under the preceding sentence. 420B. Review by qualified review boards of changes in employer contributions \n(a) In general \nA public employee pension plan does not meet the requirements of section 401(a)(35) unless, under the plan, changes in employer contributions are subject to review by a qualified review board established for the plan as provided in this section. For purposes of this section, the term qualified review board means a board— (1) whose membership is determined under the law of the principal State in accordance with subsection (b), and (2) whose powers are determined under the law of the principal State in accordance with subsection (c). (b) Membership \n(1) In general \nThe membership of a qualified review board established for a plan shall consist of 3 members selected from among individuals who, by means of their education and experience, have demonstrated expertise in the area of pension fund management, as follows: (A) one member is appointed by the Governor of the State, (B) one member is selected by the participants in the plan, by means of an election held in such form and manner as shall be prescribed in regulations of the Secretary, and (C) one member is selected jointly by the Governor and by a representative of participants in the plan (from a certified list of pension experts established in accordance with paragraph (2)). Each member of the board shall have 1 vote. Members of the board shall serve for such equivalent terms as shall be prescribed under the law of the principal State. (2) Certified list of experts \nThe Governor of the State shall, for purposes of paragraph (1)(C), establish and maintain with respect to each public employee pension plan (for which such State is the principal State) a certified list of pension experts meeting the requirements for membership on the qualified review board. Individuals may be included on such list only by agreement between the Governor of the State and a representative elected by participants in the plan, entered into by means of collective bargaining in such form and manner as shall be prescribed in regulations of the Secretary. (c) Powers \nThe board shall be treated as a qualified review board for purposes of this section with respect to any public employee pension plan (for which such State is the principal State) only if the powers of such board under the law of the principal State include review by the board, for approval or disapproval by the board, of any change in the terms of such plan, as a necessary prerequisite for such change to take effect, if— (1) such change would have the effect of changing levels of employer contributions to the plan, and (2) such review is requested, in such form and manner as shall be prescribed in regulations of the Secretary, by— (A) at least one-third of the total number of trustees of any trust fund forming a part of the plan, or (B) the head of any employee organization representing at least 20 percent of the total number of active participants in the plan. The board may be treated as a qualified review board for purposes of this section only if, under the law of the principal State, any such change submitted to such review by the board may take effect only upon approval of the change by the board. 420C. Definitions and coverage \n(a) Definitions \nFor purposes of this subpart— (1) Administrator \nThe term administrator means— (A) the board of trustees, retirement board, or similar person with administrative responsibilities in connection with a plan, or any other person specifically so designated in connection with any requirement of this subpart by the terms of the instrument or instruments under which the plan is operated, including but not limited to the law of any State or of any political subdivision of any State, or (B) in any case in which there is no person described in subparagraph (A) in connection with the plan, the plan sponsor. (2) Beneficiary \nThe term beneficiary means a person designated by a participant, or by the terms of a public employee pension plan, who is or may become entitled to a benefit thereunder. (3) Current liability \nThe term current liability has the meaning provided in section 302(d)(7) of the Employee Retirement Income Security Act of 1974. (4) Employee \nThe term employee means any individual employed by an employer, employer representative, or other person required to make employer contributions under the plan. (5) Employee organization \nThe term employee organization means any labor union or any organization of any kind, or any agency or employee representation committee, association, group, or plan, in which employees participate and which exists for the purpose, in whole or in part, of dealing with employers or employer representatives concerning a public employee pension plan or other matters incidental to employment relationships; or any employees’ beneficiary association organized for the purpose, in whole or in part, of establishing such a plan. (6) Employer \nThe term employer means— (A) the government of any State or of any political subdivision of a State, (B) any agency or instrumentality of a government referred to in subparagraph (A), or (C) any agency or instrumentality of two or more governments referred to in subparagraph (A). (7) Employer contribution \nThe term employer contribution means any contribution to a public employee pension plan other than a contribution made by a participant in the plan. (8) Employer representative \nThe term employer representative means— (A) any group or association consisting, in whole or in part, of employers acting, in connection with a public employee pension plan, for an employer, or (B) any person acting, in connection with a public employee pension plan, indirectly in the interest of an employer or of a group or association described in subparagraph (A). (9) Public employee pension plan \nThe terms public employee pension plan and plan mean any plan, fund, or program which was heretofore or is hereafter established or maintained, in whole or in part, by an employer, an employer representative, or an employee organization, or by a combination thereof, to the extent that by its express terms or as a result of surrounding circumstances such plan, fund, or program— (A) provides retirement income to employees, or (B) results in a deferral of income by employees for periods extending to the termination of covered employment or beyond, regardless of the method of calculating the contributions made to the plan, the method of calculating the benefits under the plan, or the method of distributing benefits from the plan. (10) Principal State \nThe term principal State means, for any plan year with respect to a public employee pension plan, the State in which, as of the beginning of such plan year, the largest percentage of the participants of the plan employed in any single State is employed. (11) Governor \nThe term Governor means, in connection with a public employee pension plan, the Governor (or equivalent official) of the principal State. (12) Participant \nThe term participant means any individual who is or may become eligible to receive a benefit of any type from a public employee pension plan or whose beneficiaries may be eligible to receive any such benefit. (13) Person \nThe term person means a State, a political subdivision of a State, any agency or instrumentality of a State or a political subdivision of a State, an individual, a partnership, a joint venture, a corporation, a mutual company, a joint-stock company, a trust, an estate, an unincorporated organization, an association, or an employee organization. (14) Plan sponsor \nThe term plan sponsor means— (A) in the case of a plan established or maintained solely for employees of a single employer, such employer, (B) in the case of a plan established or maintained by an employee organization, the employee organization, or (C) in the case of a plan established or maintained by two or more employers or jointly by one or more employers and one or more employee organizations, the association, committee, board of trustees, or other similar group of representatives of the parties who establish or maintain the plan. (15) Plan year \nThe term plan year means, with respect to a plan, the calendar, policy, or fiscal year on which the records of the plan are kept. (16) State \nThe term State means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, American Samoa, and Guam. (b) Coverage \n(1) In general \nExcept as provided in paragraph (2), this subpart shall apply to any public employee pension plan. (2) Exceptions from coverage \nThe provisions of this subpart shall not apply to— (A) any employee benefit plan described in section 4(a) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1003(a) ), which is not exempt under section 4(b)(1) of such Act ( 29 U.S.C. 1003(b)(1) ), (B) any plan which is unfunded and is maintained by an employer or employer representative primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees, (C) any arrangement which would be a severance pay arrangement, as defined in regulations of the Secretary of Labor under section 3(2)(B)(i) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1002(2)(B)(i) ), if the employer were an employer within the meaning of section 3(5) of such Act ( 29 U.S.C. 1002(5) ), (D) any agreement to the extent it is a coverage agreement entered into pursuant to section 218 of the Social Security Act ( 42 U.S.C. 418 ), (E) any individual retirement account or any individual retirement annuity within the meaning of section 408, or a retirement bond within the meaning of section 409, (F) any plan described in section 401(d), (G) any individual account plan consisting of an annuity contract described in section 403(b), (H) any eligible State deferred compensation plan, as defined in section 457(b), or (I) any plan maintained solely for the purpose of complying with applicable workers’ compensation laws or disability insurance laws..", "id": "H50954745C59E43DC85715F7267F2011D", "header": "New qualification requirements for public employee pension plans", "nested": [ { "text": "(a) In general \nSubsection (a) of section 401 of the Internal Revenue Code of 1986 (relating to requirements for qualification) is amended by inserting after paragraph (34) the following new paragraph: (35) Public employee pension plans \nA trust forming a part of a public employee pension plan (as defined in section 420C(a)(9)) shall not constitute a qualified trust under this section unless the requirements of subpart F of this part are met in connection with such plan.", "id": "HCBEE048FF18144078832B1655F9F8DF4", "header": "In general", "nested": [], "links": [ { "text": "section 401", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "(b) Requirements \nPart I of subchapter D of chapter 1 of such Code (relating to pension, profit-sharing, stock bonus plans, etc.) is amended by inserting after subpart E the following new subpart: F Public employee pension plans \nSec. 420A. Reporting and disclosure requirements Sec. 420B. Review by qualified review boards of changes in employer contributions Sec. 420C. Definitions and coverage 420A. Reporting and disclosure requirements \n(a) In general \nA public employee pension plan does not meet the requirements of section 401(a)(35) unless the terms of the plan include the requirements of this section. (b) Required disclosures \nThe plan shall provide that, within 210 days after the close of each plan year, the administrator of the plan shall furnish to each participant, and to each beneficiary receiving benefits under the plan— (1) a statement of the assets and liabilities of the plan aggregated by categories and valued at their current value, and the same data displayed in comparative form for the end of the previous plan year, (2) a statement of receipts and disbursements during the preceding 12-month period aggregated by general sources and applications, (3) a report containing— (A) a description of all investments and assets of the plan, including their value, (B) the names and positions of all of the trustees of the plan, and the time remaining before the expiration of their term, (C) a description of the method of trustee selection, (D) a description of any changes in investment policy of the plan during the fiscal year, (E) an evaluation of the long-term solvency of the plan, including the number of participants and beneficiaries and a summary of their benefits, and a projection of the amount of benefits expected to be paid for the fifth, tenth, and fifteenth plan year following the date of the publication of the report, and (F) the percentage which the current value of the assets of the plan is of the current liability under the plan, and (4) any other material as is necessary to fairly summarize the latest annual report. Such information shall be written and calculated to be understood by the average plan participant, and shall be sufficiently accurate and comprehensive to reasonably apprise such participants and beneficiaries of their rights and obligations under the plan. (c) Availability of plan documents for examination \nThe plan shall provide that the administrator shall make copies of the plan description and the latest annual report and the bargaining agreement, trust agreement, contract, or other instruments under which the plan was established or is operated available for examination by any plan participant or beneficiary in the principal office of the administrator and in such other places as may be necessary to make available all pertinent information to all participants (including such places as the Secretary may prescribe by regulations). (d) Availability of information upon request \nThe plan shall provide that the administrator shall, upon written request of any participant or beneficiary, furnish a copy of the latest annual report, any terminal report, the bargaining agreement, trust agreement, contract, or other instruments under which the plan is established or operated. The administrator may make a reasonable charge to cover the cost of furnishing such complete copies. The Secretary may by regulation prescribe the maximum amount which will constitute a reasonable charge under the preceding sentence. 420B. Review by qualified review boards of changes in employer contributions \n(a) In general \nA public employee pension plan does not meet the requirements of section 401(a)(35) unless, under the plan, changes in employer contributions are subject to review by a qualified review board established for the plan as provided in this section. For purposes of this section, the term qualified review board means a board— (1) whose membership is determined under the law of the principal State in accordance with subsection (b), and (2) whose powers are determined under the law of the principal State in accordance with subsection (c). (b) Membership \n(1) In general \nThe membership of a qualified review board established for a plan shall consist of 3 members selected from among individuals who, by means of their education and experience, have demonstrated expertise in the area of pension fund management, as follows: (A) one member is appointed by the Governor of the State, (B) one member is selected by the participants in the plan, by means of an election held in such form and manner as shall be prescribed in regulations of the Secretary, and (C) one member is selected jointly by the Governor and by a representative of participants in the plan (from a certified list of pension experts established in accordance with paragraph (2)). Each member of the board shall have 1 vote. Members of the board shall serve for such equivalent terms as shall be prescribed under the law of the principal State. (2) Certified list of experts \nThe Governor of the State shall, for purposes of paragraph (1)(C), establish and maintain with respect to each public employee pension plan (for which such State is the principal State) a certified list of pension experts meeting the requirements for membership on the qualified review board. Individuals may be included on such list only by agreement between the Governor of the State and a representative elected by participants in the plan, entered into by means of collective bargaining in such form and manner as shall be prescribed in regulations of the Secretary. (c) Powers \nThe board shall be treated as a qualified review board for purposes of this section with respect to any public employee pension plan (for which such State is the principal State) only if the powers of such board under the law of the principal State include review by the board, for approval or disapproval by the board, of any change in the terms of such plan, as a necessary prerequisite for such change to take effect, if— (1) such change would have the effect of changing levels of employer contributions to the plan, and (2) such review is requested, in such form and manner as shall be prescribed in regulations of the Secretary, by— (A) at least one-third of the total number of trustees of any trust fund forming a part of the plan, or (B) the head of any employee organization representing at least 20 percent of the total number of active participants in the plan. The board may be treated as a qualified review board for purposes of this section only if, under the law of the principal State, any such change submitted to such review by the board may take effect only upon approval of the change by the board. 420C. Definitions and coverage \n(a) Definitions \nFor purposes of this subpart— (1) Administrator \nThe term administrator means— (A) the board of trustees, retirement board, or similar person with administrative responsibilities in connection with a plan, or any other person specifically so designated in connection with any requirement of this subpart by the terms of the instrument or instruments under which the plan is operated, including but not limited to the law of any State or of any political subdivision of any State, or (B) in any case in which there is no person described in subparagraph (A) in connection with the plan, the plan sponsor. (2) Beneficiary \nThe term beneficiary means a person designated by a participant, or by the terms of a public employee pension plan, who is or may become entitled to a benefit thereunder. (3) Current liability \nThe term current liability has the meaning provided in section 302(d)(7) of the Employee Retirement Income Security Act of 1974. (4) Employee \nThe term employee means any individual employed by an employer, employer representative, or other person required to make employer contributions under the plan. (5) Employee organization \nThe term employee organization means any labor union or any organization of any kind, or any agency or employee representation committee, association, group, or plan, in which employees participate and which exists for the purpose, in whole or in part, of dealing with employers or employer representatives concerning a public employee pension plan or other matters incidental to employment relationships; or any employees’ beneficiary association organized for the purpose, in whole or in part, of establishing such a plan. (6) Employer \nThe term employer means— (A) the government of any State or of any political subdivision of a State, (B) any agency or instrumentality of a government referred to in subparagraph (A), or (C) any agency or instrumentality of two or more governments referred to in subparagraph (A). (7) Employer contribution \nThe term employer contribution means any contribution to a public employee pension plan other than a contribution made by a participant in the plan. (8) Employer representative \nThe term employer representative means— (A) any group or association consisting, in whole or in part, of employers acting, in connection with a public employee pension plan, for an employer, or (B) any person acting, in connection with a public employee pension plan, indirectly in the interest of an employer or of a group or association described in subparagraph (A). (9) Public employee pension plan \nThe terms public employee pension plan and plan mean any plan, fund, or program which was heretofore or is hereafter established or maintained, in whole or in part, by an employer, an employer representative, or an employee organization, or by a combination thereof, to the extent that by its express terms or as a result of surrounding circumstances such plan, fund, or program— (A) provides retirement income to employees, or (B) results in a deferral of income by employees for periods extending to the termination of covered employment or beyond, regardless of the method of calculating the contributions made to the plan, the method of calculating the benefits under the plan, or the method of distributing benefits from the plan. (10) Principal State \nThe term principal State means, for any plan year with respect to a public employee pension plan, the State in which, as of the beginning of such plan year, the largest percentage of the participants of the plan employed in any single State is employed. (11) Governor \nThe term Governor means, in connection with a public employee pension plan, the Governor (or equivalent official) of the principal State. (12) Participant \nThe term participant means any individual who is or may become eligible to receive a benefit of any type from a public employee pension plan or whose beneficiaries may be eligible to receive any such benefit. (13) Person \nThe term person means a State, a political subdivision of a State, any agency or instrumentality of a State or a political subdivision of a State, an individual, a partnership, a joint venture, a corporation, a mutual company, a joint-stock company, a trust, an estate, an unincorporated organization, an association, or an employee organization. (14) Plan sponsor \nThe term plan sponsor means— (A) in the case of a plan established or maintained solely for employees of a single employer, such employer, (B) in the case of a plan established or maintained by an employee organization, the employee organization, or (C) in the case of a plan established or maintained by two or more employers or jointly by one or more employers and one or more employee organizations, the association, committee, board of trustees, or other similar group of representatives of the parties who establish or maintain the plan. (15) Plan year \nThe term plan year means, with respect to a plan, the calendar, policy, or fiscal year on which the records of the plan are kept. (16) State \nThe term State means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, American Samoa, and Guam. (b) Coverage \n(1) In general \nExcept as provided in paragraph (2), this subpart shall apply to any public employee pension plan. (2) Exceptions from coverage \nThe provisions of this subpart shall not apply to— (A) any employee benefit plan described in section 4(a) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1003(a) ), which is not exempt under section 4(b)(1) of such Act ( 29 U.S.C. 1003(b)(1) ), (B) any plan which is unfunded and is maintained by an employer or employer representative primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees, (C) any arrangement which would be a severance pay arrangement, as defined in regulations of the Secretary of Labor under section 3(2)(B)(i) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1002(2)(B)(i) ), if the employer were an employer within the meaning of section 3(5) of such Act ( 29 U.S.C. 1002(5) ), (D) any agreement to the extent it is a coverage agreement entered into pursuant to section 218 of the Social Security Act ( 42 U.S.C. 418 ), (E) any individual retirement account or any individual retirement annuity within the meaning of section 408, or a retirement bond within the meaning of section 409, (F) any plan described in section 401(d), (G) any individual account plan consisting of an annuity contract described in section 403(b), (H) any eligible State deferred compensation plan, as defined in section 457(b), or (I) any plan maintained solely for the purpose of complying with applicable workers’ compensation laws or disability insurance laws..", "id": "HBC1BA40F00E24846A48B6B5176F6CF7D", "header": "Requirements", "nested": [], "links": [ { "text": "29 U.S.C. 1003(a)", "legal-doc": "usc", "parsable-cite": "usc/29/1003" }, { "text": "29 U.S.C. 1003(b)(1)", "legal-doc": "usc", "parsable-cite": "usc/29/1003" }, { "text": "29 U.S.C. 1002(2)(B)(i)", "legal-doc": "usc", "parsable-cite": "usc/29/1002" }, { "text": "29 U.S.C. 1002(5)", "legal-doc": "usc", "parsable-cite": "usc/29/1002" }, { "text": "42 U.S.C. 418", "legal-doc": "usc", "parsable-cite": "usc/42/418" } ] } ], "links": [ { "text": "section 401", "legal-doc": "usc", "parsable-cite": "usc/26/401" }, { "text": "29 U.S.C. 1003(a)", "legal-doc": "usc", "parsable-cite": "usc/29/1003" }, { "text": "29 U.S.C. 1003(b)(1)", "legal-doc": "usc", "parsable-cite": "usc/29/1003" }, { "text": "29 U.S.C. 1002(2)(B)(i)", "legal-doc": "usc", "parsable-cite": "usc/29/1002" }, { "text": "29 U.S.C. 1002(5)", "legal-doc": "usc", "parsable-cite": "usc/29/1002" }, { "text": "42 U.S.C. 418", "legal-doc": "usc", "parsable-cite": "usc/42/418" } ] }, { "text": "420A. Reporting and disclosure requirements \n(a) In general \nA public employee pension plan does not meet the requirements of section 401(a)(35) unless the terms of the plan include the requirements of this section. (b) Required disclosures \nThe plan shall provide that, within 210 days after the close of each plan year, the administrator of the plan shall furnish to each participant, and to each beneficiary receiving benefits under the plan— (1) a statement of the assets and liabilities of the plan aggregated by categories and valued at their current value, and the same data displayed in comparative form for the end of the previous plan year, (2) a statement of receipts and disbursements during the preceding 12-month period aggregated by general sources and applications, (3) a report containing— (A) a description of all investments and assets of the plan, including their value, (B) the names and positions of all of the trustees of the plan, and the time remaining before the expiration of their term, (C) a description of the method of trustee selection, (D) a description of any changes in investment policy of the plan during the fiscal year, (E) an evaluation of the long-term solvency of the plan, including the number of participants and beneficiaries and a summary of their benefits, and a projection of the amount of benefits expected to be paid for the fifth, tenth, and fifteenth plan year following the date of the publication of the report, and (F) the percentage which the current value of the assets of the plan is of the current liability under the plan, and (4) any other material as is necessary to fairly summarize the latest annual report. Such information shall be written and calculated to be understood by the average plan participant, and shall be sufficiently accurate and comprehensive to reasonably apprise such participants and beneficiaries of their rights and obligations under the plan. (c) Availability of plan documents for examination \nThe plan shall provide that the administrator shall make copies of the plan description and the latest annual report and the bargaining agreement, trust agreement, contract, or other instruments under which the plan was established or is operated available for examination by any plan participant or beneficiary in the principal office of the administrator and in such other places as may be necessary to make available all pertinent information to all participants (including such places as the Secretary may prescribe by regulations). (d) Availability of information upon request \nThe plan shall provide that the administrator shall, upon written request of any participant or beneficiary, furnish a copy of the latest annual report, any terminal report, the bargaining agreement, trust agreement, contract, or other instruments under which the plan is established or operated. The administrator may make a reasonable charge to cover the cost of furnishing such complete copies. The Secretary may by regulation prescribe the maximum amount which will constitute a reasonable charge under the preceding sentence.", "id": "H621BAA43DB964FC98F21DEA7EC6D83EC", "header": "Reporting and disclosure requirements", "nested": [ { "text": "(a) In general \nA public employee pension plan does not meet the requirements of section 401(a)(35) unless the terms of the plan include the requirements of this section.", "id": "HE89851708E0146F7BBF173B8FFCFB5C3", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Required disclosures \nThe plan shall provide that, within 210 days after the close of each plan year, the administrator of the plan shall furnish to each participant, and to each beneficiary receiving benefits under the plan— (1) a statement of the assets and liabilities of the plan aggregated by categories and valued at their current value, and the same data displayed in comparative form for the end of the previous plan year, (2) a statement of receipts and disbursements during the preceding 12-month period aggregated by general sources and applications, (3) a report containing— (A) a description of all investments and assets of the plan, including their value, (B) the names and positions of all of the trustees of the plan, and the time remaining before the expiration of their term, (C) a description of the method of trustee selection, (D) a description of any changes in investment policy of the plan during the fiscal year, (E) an evaluation of the long-term solvency of the plan, including the number of participants and beneficiaries and a summary of their benefits, and a projection of the amount of benefits expected to be paid for the fifth, tenth, and fifteenth plan year following the date of the publication of the report, and (F) the percentage which the current value of the assets of the plan is of the current liability under the plan, and (4) any other material as is necessary to fairly summarize the latest annual report. Such information shall be written and calculated to be understood by the average plan participant, and shall be sufficiently accurate and comprehensive to reasonably apprise such participants and beneficiaries of their rights and obligations under the plan.", "id": "HD993EC25BC8A40A8AFE39A966E592D5", "header": "Required disclosures", "nested": [], "links": [] }, { "text": "(c) Availability of plan documents for examination \nThe plan shall provide that the administrator shall make copies of the plan description and the latest annual report and the bargaining agreement, trust agreement, contract, or other instruments under which the plan was established or is operated available for examination by any plan participant or beneficiary in the principal office of the administrator and in such other places as may be necessary to make available all pertinent information to all participants (including such places as the Secretary may prescribe by regulations).", "id": "HE47D7F9993D24FCAB0267D4ECF65622C", "header": "Availability of plan documents for examination", "nested": [], "links": [] }, { "text": "(d) Availability of information upon request \nThe plan shall provide that the administrator shall, upon written request of any participant or beneficiary, furnish a copy of the latest annual report, any terminal report, the bargaining agreement, trust agreement, contract, or other instruments under which the plan is established or operated. The administrator may make a reasonable charge to cover the cost of furnishing such complete copies. The Secretary may by regulation prescribe the maximum amount which will constitute a reasonable charge under the preceding sentence.", "id": "H5EE6EF4BB9624873A161FFB62D40539D", "header": "Availability of information upon request", "nested": [], "links": [] } ], "links": [] }, { "text": "420B. Review by qualified review boards of changes in employer contributions \n(a) In general \nA public employee pension plan does not meet the requirements of section 401(a)(35) unless, under the plan, changes in employer contributions are subject to review by a qualified review board established for the plan as provided in this section. For purposes of this section, the term qualified review board means a board— (1) whose membership is determined under the law of the principal State in accordance with subsection (b), and (2) whose powers are determined under the law of the principal State in accordance with subsection (c). (b) Membership \n(1) In general \nThe membership of a qualified review board established for a plan shall consist of 3 members selected from among individuals who, by means of their education and experience, have demonstrated expertise in the area of pension fund management, as follows: (A) one member is appointed by the Governor of the State, (B) one member is selected by the participants in the plan, by means of an election held in such form and manner as shall be prescribed in regulations of the Secretary, and (C) one member is selected jointly by the Governor and by a representative of participants in the plan (from a certified list of pension experts established in accordance with paragraph (2)). Each member of the board shall have 1 vote. Members of the board shall serve for such equivalent terms as shall be prescribed under the law of the principal State. (2) Certified list of experts \nThe Governor of the State shall, for purposes of paragraph (1)(C), establish and maintain with respect to each public employee pension plan (for which such State is the principal State) a certified list of pension experts meeting the requirements for membership on the qualified review board. Individuals may be included on such list only by agreement between the Governor of the State and a representative elected by participants in the plan, entered into by means of collective bargaining in such form and manner as shall be prescribed in regulations of the Secretary. (c) Powers \nThe board shall be treated as a qualified review board for purposes of this section with respect to any public employee pension plan (for which such State is the principal State) only if the powers of such board under the law of the principal State include review by the board, for approval or disapproval by the board, of any change in the terms of such plan, as a necessary prerequisite for such change to take effect, if— (1) such change would have the effect of changing levels of employer contributions to the plan, and (2) such review is requested, in such form and manner as shall be prescribed in regulations of the Secretary, by— (A) at least one-third of the total number of trustees of any trust fund forming a part of the plan, or (B) the head of any employee organization representing at least 20 percent of the total number of active participants in the plan. The board may be treated as a qualified review board for purposes of this section only if, under the law of the principal State, any such change submitted to such review by the board may take effect only upon approval of the change by the board.", "id": "H4401F7E76A5C4E219B716B60C9D03BE6", "header": "Review by qualified review boards of changes in employer contributions", "nested": [ { "text": "(a) In general \nA public employee pension plan does not meet the requirements of section 401(a)(35) unless, under the plan, changes in employer contributions are subject to review by a qualified review board established for the plan as provided in this section. For purposes of this section, the term qualified review board means a board— (1) whose membership is determined under the law of the principal State in accordance with subsection (b), and (2) whose powers are determined under the law of the principal State in accordance with subsection (c).", "id": "H096F3AF5F16E4CB1A5F1C910C12825C5", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Membership \n(1) In general \nThe membership of a qualified review board established for a plan shall consist of 3 members selected from among individuals who, by means of their education and experience, have demonstrated expertise in the area of pension fund management, as follows: (A) one member is appointed by the Governor of the State, (B) one member is selected by the participants in the plan, by means of an election held in such form and manner as shall be prescribed in regulations of the Secretary, and (C) one member is selected jointly by the Governor and by a representative of participants in the plan (from a certified list of pension experts established in accordance with paragraph (2)). Each member of the board shall have 1 vote. Members of the board shall serve for such equivalent terms as shall be prescribed under the law of the principal State. (2) Certified list of experts \nThe Governor of the State shall, for purposes of paragraph (1)(C), establish and maintain with respect to each public employee pension plan (for which such State is the principal State) a certified list of pension experts meeting the requirements for membership on the qualified review board. Individuals may be included on such list only by agreement between the Governor of the State and a representative elected by participants in the plan, entered into by means of collective bargaining in such form and manner as shall be prescribed in regulations of the Secretary.", "id": "H8AE1A471BEED4B25ACB0E78EFE709759", "header": "Membership", "nested": [], "links": [] }, { "text": "(c) Powers \nThe board shall be treated as a qualified review board for purposes of this section with respect to any public employee pension plan (for which such State is the principal State) only if the powers of such board under the law of the principal State include review by the board, for approval or disapproval by the board, of any change in the terms of such plan, as a necessary prerequisite for such change to take effect, if— (1) such change would have the effect of changing levels of employer contributions to the plan, and (2) such review is requested, in such form and manner as shall be prescribed in regulations of the Secretary, by— (A) at least one-third of the total number of trustees of any trust fund forming a part of the plan, or (B) the head of any employee organization representing at least 20 percent of the total number of active participants in the plan. The board may be treated as a qualified review board for purposes of this section only if, under the law of the principal State, any such change submitted to such review by the board may take effect only upon approval of the change by the board.", "id": "H4AFDF60559F34B9CB03D7C56457330D0", "header": "Powers", "nested": [], "links": [] } ], "links": [] }, { "text": "420C. Definitions and coverage \n(a) Definitions \nFor purposes of this subpart— (1) Administrator \nThe term administrator means— (A) the board of trustees, retirement board, or similar person with administrative responsibilities in connection with a plan, or any other person specifically so designated in connection with any requirement of this subpart by the terms of the instrument or instruments under which the plan is operated, including but not limited to the law of any State or of any political subdivision of any State, or (B) in any case in which there is no person described in subparagraph (A) in connection with the plan, the plan sponsor. (2) Beneficiary \nThe term beneficiary means a person designated by a participant, or by the terms of a public employee pension plan, who is or may become entitled to a benefit thereunder. (3) Current liability \nThe term current liability has the meaning provided in section 302(d)(7) of the Employee Retirement Income Security Act of 1974. (4) Employee \nThe term employee means any individual employed by an employer, employer representative, or other person required to make employer contributions under the plan. (5) Employee organization \nThe term employee organization means any labor union or any organization of any kind, or any agency or employee representation committee, association, group, or plan, in which employees participate and which exists for the purpose, in whole or in part, of dealing with employers or employer representatives concerning a public employee pension plan or other matters incidental to employment relationships; or any employees’ beneficiary association organized for the purpose, in whole or in part, of establishing such a plan. (6) Employer \nThe term employer means— (A) the government of any State or of any political subdivision of a State, (B) any agency or instrumentality of a government referred to in subparagraph (A), or (C) any agency or instrumentality of two or more governments referred to in subparagraph (A). (7) Employer contribution \nThe term employer contribution means any contribution to a public employee pension plan other than a contribution made by a participant in the plan. (8) Employer representative \nThe term employer representative means— (A) any group or association consisting, in whole or in part, of employers acting, in connection with a public employee pension plan, for an employer, or (B) any person acting, in connection with a public employee pension plan, indirectly in the interest of an employer or of a group or association described in subparagraph (A). (9) Public employee pension plan \nThe terms public employee pension plan and plan mean any plan, fund, or program which was heretofore or is hereafter established or maintained, in whole or in part, by an employer, an employer representative, or an employee organization, or by a combination thereof, to the extent that by its express terms or as a result of surrounding circumstances such plan, fund, or program— (A) provides retirement income to employees, or (B) results in a deferral of income by employees for periods extending to the termination of covered employment or beyond, regardless of the method of calculating the contributions made to the plan, the method of calculating the benefits under the plan, or the method of distributing benefits from the plan. (10) Principal State \nThe term principal State means, for any plan year with respect to a public employee pension plan, the State in which, as of the beginning of such plan year, the largest percentage of the participants of the plan employed in any single State is employed. (11) Governor \nThe term Governor means, in connection with a public employee pension plan, the Governor (or equivalent official) of the principal State. (12) Participant \nThe term participant means any individual who is or may become eligible to receive a benefit of any type from a public employee pension plan or whose beneficiaries may be eligible to receive any such benefit. (13) Person \nThe term person means a State, a political subdivision of a State, any agency or instrumentality of a State or a political subdivision of a State, an individual, a partnership, a joint venture, a corporation, a mutual company, a joint-stock company, a trust, an estate, an unincorporated organization, an association, or an employee organization. (14) Plan sponsor \nThe term plan sponsor means— (A) in the case of a plan established or maintained solely for employees of a single employer, such employer, (B) in the case of a plan established or maintained by an employee organization, the employee organization, or (C) in the case of a plan established or maintained by two or more employers or jointly by one or more employers and one or more employee organizations, the association, committee, board of trustees, or other similar group of representatives of the parties who establish or maintain the plan. (15) Plan year \nThe term plan year means, with respect to a plan, the calendar, policy, or fiscal year on which the records of the plan are kept. (16) State \nThe term State means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, American Samoa, and Guam. (b) Coverage \n(1) In general \nExcept as provided in paragraph (2), this subpart shall apply to any public employee pension plan. (2) Exceptions from coverage \nThe provisions of this subpart shall not apply to— (A) any employee benefit plan described in section 4(a) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1003(a) ), which is not exempt under section 4(b)(1) of such Act ( 29 U.S.C. 1003(b)(1) ), (B) any plan which is unfunded and is maintained by an employer or employer representative primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees, (C) any arrangement which would be a severance pay arrangement, as defined in regulations of the Secretary of Labor under section 3(2)(B)(i) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1002(2)(B)(i) ), if the employer were an employer within the meaning of section 3(5) of such Act ( 29 U.S.C. 1002(5) ), (D) any agreement to the extent it is a coverage agreement entered into pursuant to section 218 of the Social Security Act ( 42 U.S.C. 418 ), (E) any individual retirement account or any individual retirement annuity within the meaning of section 408, or a retirement bond within the meaning of section 409, (F) any plan described in section 401(d), (G) any individual account plan consisting of an annuity contract described in section 403(b), (H) any eligible State deferred compensation plan, as defined in section 457(b), or (I) any plan maintained solely for the purpose of complying with applicable workers’ compensation laws or disability insurance laws.", "id": "H88E2BDF0DA7B46F09584BCF95CC4BB2", "header": "Definitions and coverage", "nested": [ { "text": "(a) Definitions \nFor purposes of this subpart— (1) Administrator \nThe term administrator means— (A) the board of trustees, retirement board, or similar person with administrative responsibilities in connection with a plan, or any other person specifically so designated in connection with any requirement of this subpart by the terms of the instrument or instruments under which the plan is operated, including but not limited to the law of any State or of any political subdivision of any State, or (B) in any case in which there is no person described in subparagraph (A) in connection with the plan, the plan sponsor. (2) Beneficiary \nThe term beneficiary means a person designated by a participant, or by the terms of a public employee pension plan, who is or may become entitled to a benefit thereunder. (3) Current liability \nThe term current liability has the meaning provided in section 302(d)(7) of the Employee Retirement Income Security Act of 1974. (4) Employee \nThe term employee means any individual employed by an employer, employer representative, or other person required to make employer contributions under the plan. (5) Employee organization \nThe term employee organization means any labor union or any organization of any kind, or any agency or employee representation committee, association, group, or plan, in which employees participate and which exists for the purpose, in whole or in part, of dealing with employers or employer representatives concerning a public employee pension plan or other matters incidental to employment relationships; or any employees’ beneficiary association organized for the purpose, in whole or in part, of establishing such a plan. (6) Employer \nThe term employer means— (A) the government of any State or of any political subdivision of a State, (B) any agency or instrumentality of a government referred to in subparagraph (A), or (C) any agency or instrumentality of two or more governments referred to in subparagraph (A). (7) Employer contribution \nThe term employer contribution means any contribution to a public employee pension plan other than a contribution made by a participant in the plan. (8) Employer representative \nThe term employer representative means— (A) any group or association consisting, in whole or in part, of employers acting, in connection with a public employee pension plan, for an employer, or (B) any person acting, in connection with a public employee pension plan, indirectly in the interest of an employer or of a group or association described in subparagraph (A). (9) Public employee pension plan \nThe terms public employee pension plan and plan mean any plan, fund, or program which was heretofore or is hereafter established or maintained, in whole or in part, by an employer, an employer representative, or an employee organization, or by a combination thereof, to the extent that by its express terms or as a result of surrounding circumstances such plan, fund, or program— (A) provides retirement income to employees, or (B) results in a deferral of income by employees for periods extending to the termination of covered employment or beyond, regardless of the method of calculating the contributions made to the plan, the method of calculating the benefits under the plan, or the method of distributing benefits from the plan. (10) Principal State \nThe term principal State means, for any plan year with respect to a public employee pension plan, the State in which, as of the beginning of such plan year, the largest percentage of the participants of the plan employed in any single State is employed. (11) Governor \nThe term Governor means, in connection with a public employee pension plan, the Governor (or equivalent official) of the principal State. (12) Participant \nThe term participant means any individual who is or may become eligible to receive a benefit of any type from a public employee pension plan or whose beneficiaries may be eligible to receive any such benefit. (13) Person \nThe term person means a State, a political subdivision of a State, any agency or instrumentality of a State or a political subdivision of a State, an individual, a partnership, a joint venture, a corporation, a mutual company, a joint-stock company, a trust, an estate, an unincorporated organization, an association, or an employee organization. (14) Plan sponsor \nThe term plan sponsor means— (A) in the case of a plan established or maintained solely for employees of a single employer, such employer, (B) in the case of a plan established or maintained by an employee organization, the employee organization, or (C) in the case of a plan established or maintained by two or more employers or jointly by one or more employers and one or more employee organizations, the association, committee, board of trustees, or other similar group of representatives of the parties who establish or maintain the plan. (15) Plan year \nThe term plan year means, with respect to a plan, the calendar, policy, or fiscal year on which the records of the plan are kept. (16) State \nThe term State means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, American Samoa, and Guam.", "id": "H0ED62582F9BD493892927DB562FFE2DA", "header": "Definitions", "nested": [], "links": [] }, { "text": "(b) Coverage \n(1) In general \nExcept as provided in paragraph (2), this subpart shall apply to any public employee pension plan. (2) Exceptions from coverage \nThe provisions of this subpart shall not apply to— (A) any employee benefit plan described in section 4(a) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1003(a) ), which is not exempt under section 4(b)(1) of such Act ( 29 U.S.C. 1003(b)(1) ), (B) any plan which is unfunded and is maintained by an employer or employer representative primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees, (C) any arrangement which would be a severance pay arrangement, as defined in regulations of the Secretary of Labor under section 3(2)(B)(i) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1002(2)(B)(i) ), if the employer were an employer within the meaning of section 3(5) of such Act ( 29 U.S.C. 1002(5) ), (D) any agreement to the extent it is a coverage agreement entered into pursuant to section 218 of the Social Security Act ( 42 U.S.C. 418 ), (E) any individual retirement account or any individual retirement annuity within the meaning of section 408, or a retirement bond within the meaning of section 409, (F) any plan described in section 401(d), (G) any individual account plan consisting of an annuity contract described in section 403(b), (H) any eligible State deferred compensation plan, as defined in section 457(b), or (I) any plan maintained solely for the purpose of complying with applicable workers’ compensation laws or disability insurance laws.", "id": "H0B927B028ED34A14BAF0FCA83383A133", "header": "Coverage", "nested": [], "links": [ { "text": "29 U.S.C. 1003(a)", "legal-doc": "usc", "parsable-cite": "usc/29/1003" }, { "text": "29 U.S.C. 1003(b)(1)", "legal-doc": "usc", "parsable-cite": "usc/29/1003" }, { "text": "29 U.S.C. 1002(2)(B)(i)", "legal-doc": "usc", "parsable-cite": "usc/29/1002" }, { "text": "29 U.S.C. 1002(5)", "legal-doc": "usc", "parsable-cite": "usc/29/1002" }, { "text": "42 U.S.C. 418", "legal-doc": "usc", "parsable-cite": "usc/42/418" } ] } ], "links": [ { "text": "29 U.S.C. 1003(a)", "legal-doc": "usc", "parsable-cite": "usc/29/1003" }, { "text": "29 U.S.C. 1003(b)(1)", "legal-doc": "usc", "parsable-cite": "usc/29/1003" }, { "text": "29 U.S.C. 1002(2)(B)(i)", "legal-doc": "usc", "parsable-cite": "usc/29/1002" }, { "text": "29 U.S.C. 1002(5)", "legal-doc": "usc", "parsable-cite": "usc/29/1002" }, { "text": "42 U.S.C. 418", "legal-doc": "usc", "parsable-cite": "usc/42/418" } ] }, { "text": "201. Automatic enrollment of all employees in 401(k) plans \n(a) In general \nSubparagraph (A) of section 401(m)(11) of the Internal Revenue Code of 1986 (relating to additional alternative method of satisfying nondiscrimination tests) is amended by striking and at the end of clause (ii), by striking the period at the end of clause (iii) and inserting , and , and by inserting after clause (iii) the following new clause: (iv) meets the requirements of subparagraph (C).. (b) Minimum coverage requirements \nParagraph (11) of section 401(m) of such Code is amended by adding at the end the following new subparagraph: (C) Minimum coverage requirements \nThe requirements of this subparagraph are met if— (i) the plan meets the requirements of section 410(b), or (ii) the plan is offered to all eligible employees. For purposes of clause (ii) a plan shall be treated as offered to an eligible employee if, under the plan, employer contributions are made on the employee’s behalf under the plan, unless, pursuant to an election by the employee, payments are made to the employee directly in cash in lieu of such employer contributions.. (c) Preemption of State law \nThe amendments made by this section supersede any provision of a statute, regulation, or rule of a State or political subdivision of a State that would otherwise require an employer to obtain an employee’s consent before making a deduction from the wages of such employee. (d) Guidelines for meeting fiduciary requirements \nSection 404(a) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1104(a) ) is amended by adding at the end the following new paragraph: (3) (A) The Secretary shall prescribe by regulation guidelines for compliance with the requirements of the diversification requirement of paragraph (1)(C) and the prudence requirement (to the extent that it requires diversification) of paragraph (1)(B) in the case of plans which are treated as in compliance with the requirements of section 401(m)(2) of the Internal Revenue Code of 1986 solely by reason of compliance with the requirements of section 401(m)(11) of such Code. Such guidelines shall consist of criteria for meeting a standard of well-balanced and highly diversified investment of plan assets. Compliance with such guidelines shall be deemed compliance with such requirements. (B) The criteria prescribed by the Secretary pursuant to subparagraph (A) shall include at least the following: (i) sufficiently limited investment of plan assets in securities issued by any single issuer (other than in obligations issued by, or guaranteed as to both principal and interest by, the Government of the United States); (ii) sufficient diversification of investment among and within asset classes, which shall include at least sufficient diversification measured as between stocks and bonds, sufficient diversification measured as among varieties of stock categorized by large capitalization, medium capitalization, and small capitalization, and sufficient diversification measured as between investment funds focused on growth and investment funds focused on income; and (iii) adequate prospects for a reasonable rate of return on the investment, together with adequate assurance against loss of principal and minimization of fees and other associated costs chargeable to participants..", "id": "H592BE120D79F4C638189CF8858C447F1", "header": "Automatic enrollment of all employees in 401(k) plans", "nested": [ { "text": "(a) In general \nSubparagraph (A) of section 401(m)(11) of the Internal Revenue Code of 1986 (relating to additional alternative method of satisfying nondiscrimination tests) is amended by striking and at the end of clause (ii), by striking the period at the end of clause (iii) and inserting , and , and by inserting after clause (iii) the following new clause: (iv) meets the requirements of subparagraph (C)..", "id": "H399EEF2FE86043CDBDCF2BB316BA12FC", "header": "In general", "nested": [], "links": [ { "text": "section 401(m)(11)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "(b) Minimum coverage requirements \nParagraph (11) of section 401(m) of such Code is amended by adding at the end the following new subparagraph: (C) Minimum coverage requirements \nThe requirements of this subparagraph are met if— (i) the plan meets the requirements of section 410(b), or (ii) the plan is offered to all eligible employees. For purposes of clause (ii) a plan shall be treated as offered to an eligible employee if, under the plan, employer contributions are made on the employee’s behalf under the plan, unless, pursuant to an election by the employee, payments are made to the employee directly in cash in lieu of such employer contributions..", "id": "H897557A2E5ED44B0A142F25220009E3", "header": "Minimum coverage requirements", "nested": [], "links": [] }, { "text": "(c) Preemption of State law \nThe amendments made by this section supersede any provision of a statute, regulation, or rule of a State or political subdivision of a State that would otherwise require an employer to obtain an employee’s consent before making a deduction from the wages of such employee.", "id": "HC71DB3FE58974C1987420030450013F1", "header": "Preemption of State law", "nested": [], "links": [] }, { "text": "(d) Guidelines for meeting fiduciary requirements \nSection 404(a) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1104(a) ) is amended by adding at the end the following new paragraph: (3) (A) The Secretary shall prescribe by regulation guidelines for compliance with the requirements of the diversification requirement of paragraph (1)(C) and the prudence requirement (to the extent that it requires diversification) of paragraph (1)(B) in the case of plans which are treated as in compliance with the requirements of section 401(m)(2) of the Internal Revenue Code of 1986 solely by reason of compliance with the requirements of section 401(m)(11) of such Code. Such guidelines shall consist of criteria for meeting a standard of well-balanced and highly diversified investment of plan assets. Compliance with such guidelines shall be deemed compliance with such requirements. (B) The criteria prescribed by the Secretary pursuant to subparagraph (A) shall include at least the following: (i) sufficiently limited investment of plan assets in securities issued by any single issuer (other than in obligations issued by, or guaranteed as to both principal and interest by, the Government of the United States); (ii) sufficient diversification of investment among and within asset classes, which shall include at least sufficient diversification measured as between stocks and bonds, sufficient diversification measured as among varieties of stock categorized by large capitalization, medium capitalization, and small capitalization, and sufficient diversification measured as between investment funds focused on growth and investment funds focused on income; and (iii) adequate prospects for a reasonable rate of return on the investment, together with adequate assurance against loss of principal and minimization of fees and other associated costs chargeable to participants..", "id": "HA95B4B5DF30F474BB3B1B1007D3D7692", "header": "Guidelines for meeting fiduciary requirements", "nested": [], "links": [ { "text": "29 U.S.C. 1104(a)", "legal-doc": "usc", "parsable-cite": "usc/29/1104" }, { "text": "section 401(m)(2)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] } ], "links": [ { "text": "section 401(m)(11)", "legal-doc": "usc", "parsable-cite": "usc/26/401" }, { "text": "29 U.S.C. 1104(a)", "legal-doc": "usc", "parsable-cite": "usc/29/1104" }, { "text": "section 401(m)(2)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "202. Diversification requirements for defined contribution plans that hold employer securities \n(a) In general \nSubsection (a) of section 401 of the Internal Revenue Code of 1986 (relating to requirements for qualification), as amended by this Act, is further amended by inserting after paragraph (35) the following new paragraph: (36) Diversification requirements for defined contribution plans that hold employer securities \n(A) In general \nIn the case of a defined contribution plan described in this subsection that includes a trust which is exempt from tax under section 501(a) and which holds employer securities that are readily tradable on an established securities market, such trust shall not constitute a qualified trust under this section unless such plan meets the requirements of subparagraphs (B) and (C). (B) Elective deferrals invested in employer securities \n(i) In general \nIn the case of the portion of the account attributable to elective deferrals which is invested in employer securities, a plan meets the requirements of this subparagraph if each applicable individual in such plan may elect to direct the plan to divest any portion of such securities in the individual’s account and to reinvest an equivalent amount in other investment options which meet the requirements of subparagraph (D). The preceding sentence shall apply to the extent that the amount attributable to reinvested portion exceeds the amount to which a prior election under this subparagraph or paragraph (28) applies. (ii) Applicable individual \nFor purposes of this subparagraph, the term applicable individual means— (I) any participant in the plan, (II) any beneficiary who is an alternate payee (within the meaning of section 414(p)(8)) under an applicable qualified domestic relations order (within the meaning of section 414(p)(1)(A)), and (III) any beneficiary of a deceased participant or alternate payee. (C) Other employer contributions \n(i) In general \nIn the case of the portion of the account attributable to employer contributions (other than elective deferrals) which is invested in employer securities, a plan meets the requirements of this subparagraph if each qualified participant in the plan may elect to direct the plan to divest any portion of such securities in the participant’s account and to reinvest an equivalent amount in other investment options which meet the requirements of subparagraph (E). The preceding sentence shall apply to the extent that the amount attributable to such reinvested portion exceeds the amount to which a prior election under this subparagraph or paragraph (28) applies. (ii) Qualified participant \nFor purposes of this subparagraph, the term qualified participant means— (I) any participant in the plan who has completed at least 3 years of service (as determined under section 411(a)) under the plan, (II) any beneficiary who, with respect to a participant who met the service requirement in subclause (I), is an alternate payee (within the meaning of section 414(p)(8)) under an applicable qualified domestic relations order (within the meaning of section 414(p)(1)(A)), and (III) any beneficiary of a deceased participant who met the service requirement in subclause (I) or alternate payee described in subclause (II). (D) Investment options \nThe requirements of this subparagraph are met if the plan offers not less than 3 investment options (not inconsistent with regulations prescribed by the Secretary) other than employer securities. (E) Preservation of authority of plan to limit investment \nNothing in this paragraph shall be construed to limit the authority of a plan to impose limitations on the portion of plan assets in any account which may be invested in employer securities. (F) Other definitions and rules \nFor purposes of this paragraph— (i) Employer securities \nThe term employer securities shall have the meaning given such term by section 407(d)(1) of the Employee Retirement Income Security Act of 1974. (ii) Elective deferrals \nFor purposes of this subparagraph, the term elective deferrals means an employer contribution described in section 402(g)(3)(A) and any employee contribution. (iii) Election \nElections under this paragraph shall be not less frequently than quarterly. (iv) Employee stock ownership plan \nThe term employee stock ownership plan shall have the same meaning given to such term by section 4975(e)(7).. (b) Conforming amendments \n(1) Section 401(a)(28) of such Code is amended by adding at the end the following new subparagraph: (D) Application \nThis paragraph shall not apply with respect to employer securities which are readily tradable on an established securities market.. (2) Section 409(h)(7) of such Code is amended by inserting at the end or subparagraph (B) or (C) of section 401(a)(36). (3) Section 4975(e)(7) of such Code is amended by adding at the end the following new sentence: A plan shall not fail to be treated as an employee stock ownership plan merely because the plan meets the requirements of section 401(a)(36) (or provides greater diversification rights) or because participants in such plan exercise diversification rights under such section (or greater diversification rights available under the plan).. (4) Section 4980(c)(3)(A) of such Code is amended by striking if— and all that follows and inserting if the requirements of subparagraphs (B) and (C) are met.. (5) Section 407 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1107 ) is amended by adding at the end the following new subsection: (g) Notwithstanding section 408(e) or any other provision of this title, an individual account plan may not include provisions that do not meet the requirements of section 401(a)(36)(B) of the Internal Revenue Code of 1986..", "id": "H42E8031D45F4639226242BB4B8A6BB2", "header": "Diversification requirements for defined contribution plans that hold employer securities", "nested": [ { "text": "(a) In general \nSubsection (a) of section 401 of the Internal Revenue Code of 1986 (relating to requirements for qualification), as amended by this Act, is further amended by inserting after paragraph (35) the following new paragraph: (36) Diversification requirements for defined contribution plans that hold employer securities \n(A) In general \nIn the case of a defined contribution plan described in this subsection that includes a trust which is exempt from tax under section 501(a) and which holds employer securities that are readily tradable on an established securities market, such trust shall not constitute a qualified trust under this section unless such plan meets the requirements of subparagraphs (B) and (C). (B) Elective deferrals invested in employer securities \n(i) In general \nIn the case of the portion of the account attributable to elective deferrals which is invested in employer securities, a plan meets the requirements of this subparagraph if each applicable individual in such plan may elect to direct the plan to divest any portion of such securities in the individual’s account and to reinvest an equivalent amount in other investment options which meet the requirements of subparagraph (D). The preceding sentence shall apply to the extent that the amount attributable to reinvested portion exceeds the amount to which a prior election under this subparagraph or paragraph (28) applies. (ii) Applicable individual \nFor purposes of this subparagraph, the term applicable individual means— (I) any participant in the plan, (II) any beneficiary who is an alternate payee (within the meaning of section 414(p)(8)) under an applicable qualified domestic relations order (within the meaning of section 414(p)(1)(A)), and (III) any beneficiary of a deceased participant or alternate payee. (C) Other employer contributions \n(i) In general \nIn the case of the portion of the account attributable to employer contributions (other than elective deferrals) which is invested in employer securities, a plan meets the requirements of this subparagraph if each qualified participant in the plan may elect to direct the plan to divest any portion of such securities in the participant’s account and to reinvest an equivalent amount in other investment options which meet the requirements of subparagraph (E). The preceding sentence shall apply to the extent that the amount attributable to such reinvested portion exceeds the amount to which a prior election under this subparagraph or paragraph (28) applies. (ii) Qualified participant \nFor purposes of this subparagraph, the term qualified participant means— (I) any participant in the plan who has completed at least 3 years of service (as determined under section 411(a)) under the plan, (II) any beneficiary who, with respect to a participant who met the service requirement in subclause (I), is an alternate payee (within the meaning of section 414(p)(8)) under an applicable qualified domestic relations order (within the meaning of section 414(p)(1)(A)), and (III) any beneficiary of a deceased participant who met the service requirement in subclause (I) or alternate payee described in subclause (II). (D) Investment options \nThe requirements of this subparagraph are met if the plan offers not less than 3 investment options (not inconsistent with regulations prescribed by the Secretary) other than employer securities. (E) Preservation of authority of plan to limit investment \nNothing in this paragraph shall be construed to limit the authority of a plan to impose limitations on the portion of plan assets in any account which may be invested in employer securities. (F) Other definitions and rules \nFor purposes of this paragraph— (i) Employer securities \nThe term employer securities shall have the meaning given such term by section 407(d)(1) of the Employee Retirement Income Security Act of 1974. (ii) Elective deferrals \nFor purposes of this subparagraph, the term elective deferrals means an employer contribution described in section 402(g)(3)(A) and any employee contribution. (iii) Election \nElections under this paragraph shall be not less frequently than quarterly. (iv) Employee stock ownership plan \nThe term employee stock ownership plan shall have the same meaning given to such term by section 4975(e)(7)..", "id": "H5F84B3C64669E58AE8933D9A46D5D3B", "header": "In general", "nested": [], "links": [ { "text": "section 401", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "(b) Conforming amendments \n(1) Section 401(a)(28) of such Code is amended by adding at the end the following new subparagraph: (D) Application \nThis paragraph shall not apply with respect to employer securities which are readily tradable on an established securities market.. (2) Section 409(h)(7) of such Code is amended by inserting at the end or subparagraph (B) or (C) of section 401(a)(36). (3) Section 4975(e)(7) of such Code is amended by adding at the end the following new sentence: A plan shall not fail to be treated as an employee stock ownership plan merely because the plan meets the requirements of section 401(a)(36) (or provides greater diversification rights) or because participants in such plan exercise diversification rights under such section (or greater diversification rights available under the plan).. (4) Section 4980(c)(3)(A) of such Code is amended by striking if— and all that follows and inserting if the requirements of subparagraphs (B) and (C) are met.. (5) Section 407 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1107 ) is amended by adding at the end the following new subsection: (g) Notwithstanding section 408(e) or any other provision of this title, an individual account plan may not include provisions that do not meet the requirements of section 401(a)(36)(B) of the Internal Revenue Code of 1986..", "id": "H4048C971496F4E21C6CE599AA22CBCD", "header": "Conforming amendments", "nested": [], "links": [ { "text": "29 U.S.C. 1107", "legal-doc": "usc", "parsable-cite": "usc/29/1107" }, { "text": "section 401(a)(36)(B)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] } ], "links": [ { "text": "section 401", "legal-doc": "usc", "parsable-cite": "usc/26/401" }, { "text": "29 U.S.C. 1107", "legal-doc": "usc", "parsable-cite": "usc/29/1107" }, { "text": "section 401(a)(36)(B)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "203. Improvements in simplified employee pensions \n(a) Participation requirements \nParagraph (2) of section 408(k) of the Internal Revenue Code of 1986 (relating to participation requirements) is amended— (1) in subparagraph (A), by adding and at the end, and (2) by striking subparagraphs (B) and (C) and inserting the following: (B) has completed at least 3 years of service (as defined in section 411(a)(5)) for the employer.. (b) Nondiscrimination rules \nSubparagraph (C) of section 408(k)(3) of such Code (requiring contribution to bear uniform relationship to total compensation) is amended— (1) in the heading, by striking must bear uniform relationship to total compensation and inserting must be uniform , and (2) by inserting after unless contributions thereto the following: are uniform for all employees maintaining a simplified employee pension or. (c) Consent to participation not required \nParagraph (2) of section 408(k) of such Code (relating to participation requirements) is amended by adding at the end the following new flush sentence: An employer may establish and maintain a simplified employee pension for an employee without the employee’s consent.. (d) Separate treatment of contributions to simplified employee pensions \nSubsection (h) of section 404 of such Code is amended by striking paragraphs (2) and (3) and inserting the following new paragraph: (2) Limitation based on combination of plans inapplicable \nContributions to a simplified employee pension shall not be taken into account for purposes of subsection (a)(7).. (e) Joint and survivor annuity requirements \nSection 408(k) of such Code is amended— (1) by redesignating paragraph (9) as paragraph (10), and (2) by inserting after paragraph (8) the following new paragraph: (9) Joint and survivor annuity requirements \nRequirements similar to the requirements of section 401(a)(11) shall apply with respect to annuities purchased with amounts distributed from simplified employee pensions.. (f) Annual reporting requirements for simplified employee pensions \nParagraph (1) of section 408(l) of such Code (relating to simplified employer reports) is amended to read as follows: (1) In general \nThe Secretary shall require by regulations that an employer who makes a contribution on behalf of an employee to a simplified employee pension shall provide simplified annual reports. The reports required by this subsection shall be filed in such manner, and information with respect to such contributions shall be furnished to the employee in such manner, as may be required by regulations, except that such reports shall include information sufficient to allow the employee to determine that the simplified employee pension is in compliance with the requirements of this section.. (g) Deductibility of contributions to simplified employee pensions in connection with domestic service \n(1) In general \nSection 404 of such Code (relating to deductions for contributions of an employer to an employee’s trust or annuity plan and compensation under a deferred-payment plan) is amended by adding at the end the following new subsection: (o) Deductibility of contributions to simplified employee pensions in connection with domestic service \n(1) In general \nSolely for purposes of subsection (a), contributions by an employer to a simplified employee pension of an employee in connection with service constituting domestic service employment shall be treated as if such contributions would otherwise be deductible under section 162 but for subsection (a). (2) Domestic service employment \nFor purposes of paragraph (1), the term domestic service employment means domestic service in a private home of the employer (within the meaning of the last sentence of section 3510(c)) in any case in which taxes are imposed by chapter 21 or 23 on remuneration paid for such service.. (2) Effective date \nThe amendment made by this subsection shall apply to taxable years beginning after December 31, 2004.", "id": "HD1866FB1B72C402D9182FDF1B44D63DC", "header": "Improvements in simplified employee pensions", "nested": [ { "text": "(a) Participation requirements \nParagraph (2) of section 408(k) of the Internal Revenue Code of 1986 (relating to participation requirements) is amended— (1) in subparagraph (A), by adding and at the end, and (2) by striking subparagraphs (B) and (C) and inserting the following: (B) has completed at least 3 years of service (as defined in section 411(a)(5)) for the employer..", "id": "H12ED1468B4A74C988B6FD4A073C626D0", "header": "Participation requirements", "nested": [], "links": [ { "text": "section 408(k)", "legal-doc": "usc", "parsable-cite": "usc/26/408" } ] }, { "text": "(b) Nondiscrimination rules \nSubparagraph (C) of section 408(k)(3) of such Code (requiring contribution to bear uniform relationship to total compensation) is amended— (1) in the heading, by striking must bear uniform relationship to total compensation and inserting must be uniform , and (2) by inserting after unless contributions thereto the following: are uniform for all employees maintaining a simplified employee pension or.", "id": "HE690A3ED9B7D41F0856B6DD02628BC8B", "header": "Nondiscrimination rules", "nested": [], "links": [] }, { "text": "(c) Consent to participation not required \nParagraph (2) of section 408(k) of such Code (relating to participation requirements) is amended by adding at the end the following new flush sentence: An employer may establish and maintain a simplified employee pension for an employee without the employee’s consent..", "id": "HB06239D05CA742AF913E415D9BDB80D5", "header": "Consent to participation not required", "nested": [], "links": [] }, { "text": "(d) Separate treatment of contributions to simplified employee pensions \nSubsection (h) of section 404 of such Code is amended by striking paragraphs (2) and (3) and inserting the following new paragraph: (2) Limitation based on combination of plans inapplicable \nContributions to a simplified employee pension shall not be taken into account for purposes of subsection (a)(7)..", "id": "HB7C8867A6DAF40EE943B5BA2E7D60296", "header": "Separate treatment of contributions to simplified employee pensions", "nested": [], "links": [] }, { "text": "(e) Joint and survivor annuity requirements \nSection 408(k) of such Code is amended— (1) by redesignating paragraph (9) as paragraph (10), and (2) by inserting after paragraph (8) the following new paragraph: (9) Joint and survivor annuity requirements \nRequirements similar to the requirements of section 401(a)(11) shall apply with respect to annuities purchased with amounts distributed from simplified employee pensions..", "id": "H33262CED369A422DBD40FE2F75C8EB64", "header": "Joint and survivor annuity requirements", "nested": [], "links": [] }, { "text": "(f) Annual reporting requirements for simplified employee pensions \nParagraph (1) of section 408(l) of such Code (relating to simplified employer reports) is amended to read as follows: (1) In general \nThe Secretary shall require by regulations that an employer who makes a contribution on behalf of an employee to a simplified employee pension shall provide simplified annual reports. The reports required by this subsection shall be filed in such manner, and information with respect to such contributions shall be furnished to the employee in such manner, as may be required by regulations, except that such reports shall include information sufficient to allow the employee to determine that the simplified employee pension is in compliance with the requirements of this section..", "id": "HAE864180495C44799E1CE19B8FB90046", "header": "Annual reporting requirements for simplified employee pensions", "nested": [], "links": [] }, { "text": "(g) Deductibility of contributions to simplified employee pensions in connection with domestic service \n(1) In general \nSection 404 of such Code (relating to deductions for contributions of an employer to an employee’s trust or annuity plan and compensation under a deferred-payment plan) is amended by adding at the end the following new subsection: (o) Deductibility of contributions to simplified employee pensions in connection with domestic service \n(1) In general \nSolely for purposes of subsection (a), contributions by an employer to a simplified employee pension of an employee in connection with service constituting domestic service employment shall be treated as if such contributions would otherwise be deductible under section 162 but for subsection (a). (2) Domestic service employment \nFor purposes of paragraph (1), the term domestic service employment means domestic service in a private home of the employer (within the meaning of the last sentence of section 3510(c)) in any case in which taxes are imposed by chapter 21 or 23 on remuneration paid for such service.. (2) Effective date \nThe amendment made by this subsection shall apply to taxable years beginning after December 31, 2004.", "id": "H8D9716838AD548A890A2A998BA5888B8", "header": "Deductibility of contributions to simplified employee pensions in connection with domestic service", "nested": [], "links": [] } ], "links": [ { "text": "section 408(k)", "legal-doc": "usc", "parsable-cite": "usc/26/408" } ] }, { "text": "204. Pension integration rules \n(a) Applicability of new integration rules extended to all existing accrued benefits \nNotwithstanding subsection (c)(1) of section 1111 of the Tax Reform Act of 1986 (relating to effective date of application of nondiscrimination rules to integrated plans) (100 Stat. 2440), effective for plan years beginning after the date of the enactment of this Act, the amendments made by subsection (a) of such section 1111 shall also apply to benefits attributable to plan years beginning on or before December 31, 1988. (b) Integration disallowed for simplified employee pensions \n(1) In general \nSubparagraph (D) of section 408(k)(3) of the Internal Revenue Code of 1986 (relating to permitted disparity under rules limiting discrimination under simplified employee pensions) is repealed. (2) Conforming amendment \nSubparagraph (C) of such section 408(k)(3) is amended by striking and except as provided in subparagraph (D),. (3) Effective date \nThe amendments made by this subsection shall apply with respect to taxable years beginning on or after January 1, 2005. (c) Eventual repeal of integration rules \nEffective for plan years beginning on or after January 1, 2006— (1) subparagraphs (C) and (D) of section 401(a)(5) of the Internal Revenue Code of 1986 (relating to pension integration exceptions under nondiscrimination requirements for qualification) are repealed, and subparagraphs (E), (F), and (G) of such section 401(a)(5) are redesignated as subparagraphs (C), (D), and (E), respectively, and (2) subsection (l) of section 401 of such Code (relating to permitted disparity in plan contributions or benefits) is repealed.", "id": "H735B6A6AA82C4A719E3F366E00474F44", "header": "Pension integration rules", "nested": [ { "text": "(a) Applicability of new integration rules extended to all existing accrued benefits \nNotwithstanding subsection (c)(1) of section 1111 of the Tax Reform Act of 1986 (relating to effective date of application of nondiscrimination rules to integrated plans) (100 Stat. 2440), effective for plan years beginning after the date of the enactment of this Act, the amendments made by subsection (a) of such section 1111 shall also apply to benefits attributable to plan years beginning on or before December 31, 1988.", "id": "HFBDA98645D294ED393C3CC59C63CF58", "header": "Applicability of new integration rules extended to all existing accrued benefits", "nested": [], "links": [] }, { "text": "(b) Integration disallowed for simplified employee pensions \n(1) In general \nSubparagraph (D) of section 408(k)(3) of the Internal Revenue Code of 1986 (relating to permitted disparity under rules limiting discrimination under simplified employee pensions) is repealed. (2) Conforming amendment \nSubparagraph (C) of such section 408(k)(3) is amended by striking and except as provided in subparagraph (D),. (3) Effective date \nThe amendments made by this subsection shall apply with respect to taxable years beginning on or after January 1, 2005.", "id": "H198B9D12DA404124B5D7560976CD93D0", "header": "Integration disallowed for simplified employee pensions", "nested": [], "links": [ { "text": "section 408(k)(3)", "legal-doc": "usc", "parsable-cite": "usc/26/408" } ] }, { "text": "(c) Eventual repeal of integration rules \nEffective for plan years beginning on or after January 1, 2006— (1) subparagraphs (C) and (D) of section 401(a)(5) of the Internal Revenue Code of 1986 (relating to pension integration exceptions under nondiscrimination requirements for qualification) are repealed, and subparagraphs (E), (F), and (G) of such section 401(a)(5) are redesignated as subparagraphs (C), (D), and (E), respectively, and (2) subsection (l) of section 401 of such Code (relating to permitted disparity in plan contributions or benefits) is repealed.", "id": "HC3BCFB91E7344A0D8CE0179584B79DB3", "header": "Eventual repeal of integration rules", "nested": [], "links": [ { "text": "section 401(a)(5)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] } ], "links": [ { "text": "section 408(k)(3)", "legal-doc": "usc", "parsable-cite": "usc/26/408" }, { "text": "section 401(a)(5)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "205. Increase to age 75 for beginning mandatory distributions \n(a) Qualified pension plans \nSubparagraph (C) of section 401(a)(9) of the Internal Revenue Code of 1986 (relating to required distributions) is amended by striking age 70 1/2 each place it appears and inserting the applicable age. (b) Applicable age \nSubparagraph (C) of section 401(a)(9) of such Code is amended by adding at the end the following new clause: (v) Applicable age \n(I) In general \nFor purposes of this clause, the term applicable age shall be determined in accordance with the following table: Applicable Calendar year: age: 2005 71 2006 72 2007 73 2008 74 2009 and each calendar year thereafter 75. (II) Election to use age of spouse \nFor purposes of this subparagraph, an employee who files a joint return for a taxable year may elect to substitute the age of the employee’s spouse for his age.. (c) Individual retirement accounts \nParagraph (1) of section 219(d) of such Code is amended— (1) by striking age 70 1/2 in the text and inserting the applicable age (as defined in section 401(a)(9)(C)(v)) , and (2) by striking age 70 1/2 in the heading and inserting the applicable age. (d) Roth IRA’s \nParagraph (4) of section 408A(c) of such Code is amended— (1) by striking age 70 1/2 in the text and inserting the applicable age (as defined in section 401(a)(9)(C)(v)) , and (2) by striking age 70 1/2 in the heading and inserting the applicable age.", "id": "HAA836E56896F4E48A88B0719FB26A4D6", "header": "Increase to age 75 for beginning mandatory distributions", "nested": [ { "text": "(a) Qualified pension plans \nSubparagraph (C) of section 401(a)(9) of the Internal Revenue Code of 1986 (relating to required distributions) is amended by striking age 70 1/2 each place it appears and inserting the applicable age.", "id": "H9F0205716EC644C09E15B40038C355CB", "header": "Qualified pension plans", "nested": [], "links": [ { "text": "section 401(a)(9)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "(b) Applicable age \nSubparagraph (C) of section 401(a)(9) of such Code is amended by adding at the end the following new clause: (v) Applicable age \n(I) In general \nFor purposes of this clause, the term applicable age shall be determined in accordance with the following table: Applicable Calendar year: age: 2005 71 2006 72 2007 73 2008 74 2009 and each calendar year thereafter 75. (II) Election to use age of spouse \nFor purposes of this subparagraph, an employee who files a joint return for a taxable year may elect to substitute the age of the employee’s spouse for his age..", "id": "H7602BF57222F42B1B3FD43FEA0690944", "header": "Applicable age", "nested": [], "links": [] }, { "text": "(c) Individual retirement accounts \nParagraph (1) of section 219(d) of such Code is amended— (1) by striking age 70 1/2 in the text and inserting the applicable age (as defined in section 401(a)(9)(C)(v)) , and (2) by striking age 70 1/2 in the heading and inserting the applicable age.", "id": "HD425DA4656F94228B68792A5FA711875", "header": "Individual retirement accounts", "nested": [], "links": [] }, { "text": "(d) Roth IRA’s \nParagraph (4) of section 408A(c) of such Code is amended— (1) by striking age 70 1/2 in the text and inserting the applicable age (as defined in section 401(a)(9)(C)(v)) , and (2) by striking age 70 1/2 in the heading and inserting the applicable age.", "id": "HC6DAD98F69614BC28587E8F7F98C74B6", "header": "Roth IRA’s", "nested": [], "links": [] } ], "links": [ { "text": "section 401(a)(9)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "206. Restrictions on exclusion of unionized employees from participation in 401(k) plans \nParagraph (4) of section 401(k) of the Internal Revenue Code of 1986 (relating to other requirements) is amended by adding at the end the following new subparagraph: (D) Benefits subject of bargaining \nA cash or deferred arrangement of any employer shall not be treated as a qualified cash or deferred arrangement if any employee of such employer— (i) who is described in section 410(b)(3)(A), and (ii) who is not eligible to benefit under the arrangement, is not otherwise covered under an employee pension benefit plan (as defined in section 3(2)(A) of the Employee Retirement Income Security Act of 1974) which is maintained for employees of such employer pursuant to an agreement which the Secretary of Labor finds to be a collective bargaining agreement between employee representatives and one or more employers and which is qualified under section 401(a)..", "id": "H50B6BC73D4A942ADB1ADD89B9B70754B", "header": "Restrictions on exclusion of unionized employees from participation in 401(k) plans", "nested": [], "links": [ { "text": "section 401(k)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "207. Removal of $5,000 limit on plans subject to automatic rollover upon mandatory distribution \nSection 401(a)(31)(B) of the Internal Revenue Code of 1986 (relating to certain mandatory distributions) is amended— (1) in clause (i), by striking In case of a trust which is part of an eligible plan, such trust and inserting A trust , (2) in clause (i)(I), by striking in excess of $1,000 , and (3) by striking clause (ii) and inserting the following new clause: (ii) Distribution described \nA distribution from a plan is described in this clause if such distribution is an immediate distribution of the entire nonforfeitable accrued benefit of the participant and is in excess of $1,000..", "id": "H8D916A3F6C39472E863BB5F88424D5B5", "header": "Removal of $5,000 limit on plans subject to automatic rollover upon mandatory distribution", "nested": [], "links": [ { "text": "Section 401(a)(31)(B)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "301. Savers credit made refundable and permanent \n(a) Savers credit made refundable \n(1) In general \nThe Internal Revenue Code of 1986 is amended by redesignating section 25B as section 35A and by moving such section after section 35 in subpart C of part IV of subchapter A of chapter 1 of such Code (relating to refundable credits). (2) Conforming amendments \n(A) Section 35A of such Code, as so redesignated, is amended by striking subsection (g) and redesignating subsection (h) as subsection (g). (B) Subparagraph (B) of section 24(b)(3) of such Code is amended by striking sections 23 and 25B and inserting section 23. (C) Subparagraph (C) of section 25(e)(1) of such Code is amended by striking 25B,. (D) Each of the following provisions of such Code are amended by striking 24, and 25B and inserting and 24 : (i) Section 26(a)(1). (ii) Section 904(h). (iii) Section 1400C(d). (E) Paragraph (2) of section 1324(b) of title 31, United States Code, is amended by inserting or 35A after section 35. (F) The table of sections for subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by striking the item relating to section 25 B. (G) The table of sections for subpart C of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 35 the following new item: Sec. 35A. Elective deferrals and IRA contributions by certain individuals. (b) Savers credit made permanent \n(1) In general \nSection 35A of the Internal Revenue Code of 1986, as amended by this section, is amended by striking subsection (g). (2) Repeal of EGTRRA sunset \nTitle IX of the Economic Growth and Tax Relief Reconciliation Act of 2001 shall not apply to section 618 of such Act.", "id": "H17F991327BBF4E4A85B55130C2481B37", "header": "Savers credit made refundable and permanent", "nested": [ { "text": "(a) Savers credit made refundable \n(1) In general \nThe Internal Revenue Code of 1986 is amended by redesignating section 25B as section 35A and by moving such section after section 35 in subpart C of part IV of subchapter A of chapter 1 of such Code (relating to refundable credits). (2) Conforming amendments \n(A) Section 35A of such Code, as so redesignated, is amended by striking subsection (g) and redesignating subsection (h) as subsection (g). (B) Subparagraph (B) of section 24(b)(3) of such Code is amended by striking sections 23 and 25B and inserting section 23. (C) Subparagraph (C) of section 25(e)(1) of such Code is amended by striking 25B,. (D) Each of the following provisions of such Code are amended by striking 24, and 25B and inserting and 24 : (i) Section 26(a)(1). (ii) Section 904(h). (iii) Section 1400C(d). (E) Paragraph (2) of section 1324(b) of title 31, United States Code, is amended by inserting or 35A after section 35. (F) The table of sections for subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by striking the item relating to section 25 B. (G) The table of sections for subpart C of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 35 the following new item: Sec. 35A. Elective deferrals and IRA contributions by certain individuals.", "id": "HAD94622FC8D041D7BE004841CCCDD722", "header": "Savers credit made refundable", "nested": [], "links": [ { "text": "section 1324(b)", "legal-doc": "usc", "parsable-cite": "usc/31/1324" }, { "text": "chapter 1", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/26/1" }, { "text": "section 25", "legal-doc": "usc", "parsable-cite": "usc/26/25" } ] }, { "text": "(b) Savers credit made permanent \n(1) In general \nSection 35A of the Internal Revenue Code of 1986, as amended by this section, is amended by striking subsection (g). (2) Repeal of EGTRRA sunset \nTitle IX of the Economic Growth and Tax Relief Reconciliation Act of 2001 shall not apply to section 618 of such Act.", "id": "H27722EA58B3A4E97A196E401F575F611", "header": "Savers credit made permanent", "nested": [], "links": [ { "text": "Section 35A", "legal-doc": "usc", "parsable-cite": "usc/26/35A" } ] } ], "links": [ { "text": "section 1324(b)", "legal-doc": "usc", "parsable-cite": "usc/31/1324" }, { "text": "chapter 1", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/26/1" }, { "text": "section 25", "legal-doc": "usc", "parsable-cite": "usc/26/25" }, { "text": "Section 35A", "legal-doc": "usc", "parsable-cite": "usc/26/35A" } ] }, { "text": "302. Credit for qualified pension plan contributions of small employers \n(a) In general \nSubpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to business related credits) is amended by adding at the end the following new section: 45G. Small employer pension plan contributions \n(a) General rule \nFor purposes of section 38, in the case of an eligible employer, the small employer pension plan contribution credit determined under this section for any taxable year is an amount equal to 50 percent of the amount which would (but for subsection (f)(1)) be allowed as a deduction under section 404 for such taxable year for qualified employer contributions made to any qualified retirement plan on behalf of any nonhighly compensated employee. (b) Credit limited to 3 years \nThe credit allowable by this section shall be allowed only with respect to the period of 3 taxable years beginning with the taxable year in which the qualified retirement plan becomes effective. (c) Qualified employer contribution \nFor purposes of this section— (1) Defined contribution plans \nIn the case of a defined contribution plan, the term qualified employer contribution means the amount of nonelective and matching contributions to the plan made by the employer on behalf of any nonhighly compensated employee to the extent such amount does not exceed 3 percent of such employee’s compensation from the employer for the year. (2) Defined benefit plans \nIn the case of a defined benefit plan, the term qualified employer contribution means the amount of employer contributions to the plan made on behalf of any nonhighly compensated employee to the extent that the accrued benefit of such employee derived from such contributions for the year do not exceed the equivalent (as determined under regulations prescribed by the Secretary and without regard to contributions and benefits under the Social Security Act) of 3 percent of such employee’s compensation from the employer for the year. (d) Qualified retirement plan \n(1) In general \nThe term qualified retirement plan means any plan described in section 401(a) which includes a trust exempt from tax under section 501(a) if the plan meets— (A) the contribution requirements of paragraph (2), (B) the vesting requirements of paragraph (3), and (C) the distributions requirements of paragraph (4). (2) Contribution requirements \n(A) In general \nThe requirements of this paragraph are met if, under the plan— (i) the employer is required to make nonelective contributions of at least 1 percent of compensation (or the equivalent thereof in the case of a defined benefit plan) for each nonhighly compensated employee who is eligible to participate in the plan, and (ii) except in the case of a defined benefit plan, allocations of nonelective employer contributions are either in equal dollar amounts for all employees covered by the plan or bear a uniform relationship to the total compensation, or the basic or regular rate of compensation, of the employees covered by the plan. (B) Compensation limitation \nThe compensation taken into account under subparagraph (A) for any year shall not exceed the limitation in effect for such year under section 401(a)(17). (3) Vesting requirements \nThe requirements of this paragraph are met if the plan satisfies the requirements of subparagraph (A) or (B). (A) 3-year vesting \nA plan satisfies the requirements of this subparagraph if an employee who has completed at least 3 years of service has a nonforfeitable right to 100 percent of the employee’s accrued benefit derived from employer contributions. (B) 5-year graded vesting \nA plan satisfies the requirements of this subparagraph if an employee has a nonforfeitable right to a percentage of the employee’s accrued benefit derived from employer contributions determined under the following table: The nonforfeitable Years of service: percentage is: 1 20 2 40 3 60 4 80 5 or more 100. (4) Distribution requirements \n(A) In general \nExcept as provided in subparagraph (B), the requirements of this paragraph are met if, under the plan— (i) in the case of a profit-sharing or stock bonus plan, amounts are distributable only as provided in section 401(k)(2)(B), and (ii) in the case of a pension plan, amounts are distributable subject to the limitations applicable to other distributions from the plan. (B) Distributions within 5 years after separation, etc \nIn no event shall a plan meet the requirements of this paragraph unless, under the plan, amounts distributed— (i) after separation from service or severance from employment, and (ii) within 5 years after the date of the earliest employer contribution to the plan, may be distributed only in a direct trustee-to-trustee transfer to a plan having the same distribution restrictions as the distributing plan. (e) Other definitions \nFor purposes of this section— (1) Eligible employer \nThe term eligible employer has the meaning given such term by section 408(p)(2)(C)(i). (2) Nonhighly compensated employees \nThe term highly compensated employee has the meaning given such term by section 414(q) (determined without regard to section 414(q)(1)(B)(ii)). (f) Special rules \n(1) Disallowance of deduction \nNo deduction shall be allowed for that portion of the qualified employer contributions paid or incurred for the taxable year which is equal to the credit determined under subsection (a). (2) Election not to claim credit \nThis section shall not apply to a taxpayer for any taxable year if such taxpayer elects to have this section not apply for such taxable year. (g) Recapture of credit on forfeited contributions \nIf any accrued benefit which is forfeitable by reason of subsection (d)(3) is forfeited, the employer’s tax imposed by this chapter for the taxable year in which the forfeiture occurs shall be increased by 35 percent of the employer contributions from which such benefit is derived to the extent such contributions were taken into account in determining the credit under this section. (h) Regulations \nThe Secretary shall prescribe such regulations as may be appropriate to carry out the purposes of this section, including regulations to prevent the abuse of the purposes of this section through the use of multiple plans. (i) Termination \nThis section shall not apply to any plan established after December 31, 2012.. (b) Credit allowed as part of general business credit \nSection 38(b) of such Code (defining current year business credit) is amended by striking plus at the end of paragraph (13), by striking the period at the end of paragraph (14) and inserting , plus , and by adding at the end the following new paragraph: (16) in the case of an eligible employer (as defined in section 45G(e)), the small employer pension plan contribution credit determined under section 45G(a).. (c) Conforming amendments \n(1) Section 39(d) of such Code is amended by adding at the end the following new paragraph: (11) No carryback of small employer pension plan contribution credit before January 1, 2002 \nNo portion of the unused business credit for any taxable year which is attributable to the small employer pension plan contribution credit determined under section 45G may be carried back to a taxable year beginning before January 1, 2005.. (2) Subsection (c) of section 196 of such Code is amended by striking and at the end of paragraph (9), by striking the period at the end of paragraph (10) and inserting , and , and by adding at the end the following new paragraph: (11) the small employer pension plan contribution credit determined under section 45G(a).. (3) The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item: Sec 45G. Small employer pension plan contributions. (d) Effective date \nThe amendments made by this section shall apply to contributions paid or incurred in taxable years beginning after December 31, 2004.", "id": "H5F19310A9A7E4FC2B1E48523AC479195", "header": "Credit for qualified pension plan contributions of small employers", "nested": [ { "text": "(a) In general \nSubpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to business related credits) is amended by adding at the end the following new section: 45G. Small employer pension plan contributions \n(a) General rule \nFor purposes of section 38, in the case of an eligible employer, the small employer pension plan contribution credit determined under this section for any taxable year is an amount equal to 50 percent of the amount which would (but for subsection (f)(1)) be allowed as a deduction under section 404 for such taxable year for qualified employer contributions made to any qualified retirement plan on behalf of any nonhighly compensated employee. (b) Credit limited to 3 years \nThe credit allowable by this section shall be allowed only with respect to the period of 3 taxable years beginning with the taxable year in which the qualified retirement plan becomes effective. (c) Qualified employer contribution \nFor purposes of this section— (1) Defined contribution plans \nIn the case of a defined contribution plan, the term qualified employer contribution means the amount of nonelective and matching contributions to the plan made by the employer on behalf of any nonhighly compensated employee to the extent such amount does not exceed 3 percent of such employee’s compensation from the employer for the year. (2) Defined benefit plans \nIn the case of a defined benefit plan, the term qualified employer contribution means the amount of employer contributions to the plan made on behalf of any nonhighly compensated employee to the extent that the accrued benefit of such employee derived from such contributions for the year do not exceed the equivalent (as determined under regulations prescribed by the Secretary and without regard to contributions and benefits under the Social Security Act) of 3 percent of such employee’s compensation from the employer for the year. (d) Qualified retirement plan \n(1) In general \nThe term qualified retirement plan means any plan described in section 401(a) which includes a trust exempt from tax under section 501(a) if the plan meets— (A) the contribution requirements of paragraph (2), (B) the vesting requirements of paragraph (3), and (C) the distributions requirements of paragraph (4). (2) Contribution requirements \n(A) In general \nThe requirements of this paragraph are met if, under the plan— (i) the employer is required to make nonelective contributions of at least 1 percent of compensation (or the equivalent thereof in the case of a defined benefit plan) for each nonhighly compensated employee who is eligible to participate in the plan, and (ii) except in the case of a defined benefit plan, allocations of nonelective employer contributions are either in equal dollar amounts for all employees covered by the plan or bear a uniform relationship to the total compensation, or the basic or regular rate of compensation, of the employees covered by the plan. (B) Compensation limitation \nThe compensation taken into account under subparagraph (A) for any year shall not exceed the limitation in effect for such year under section 401(a)(17). (3) Vesting requirements \nThe requirements of this paragraph are met if the plan satisfies the requirements of subparagraph (A) or (B). (A) 3-year vesting \nA plan satisfies the requirements of this subparagraph if an employee who has completed at least 3 years of service has a nonforfeitable right to 100 percent of the employee’s accrued benefit derived from employer contributions. (B) 5-year graded vesting \nA plan satisfies the requirements of this subparagraph if an employee has a nonforfeitable right to a percentage of the employee’s accrued benefit derived from employer contributions determined under the following table: The nonforfeitable Years of service: percentage is: 1 20 2 40 3 60 4 80 5 or more 100. (4) Distribution requirements \n(A) In general \nExcept as provided in subparagraph (B), the requirements of this paragraph are met if, under the plan— (i) in the case of a profit-sharing or stock bonus plan, amounts are distributable only as provided in section 401(k)(2)(B), and (ii) in the case of a pension plan, amounts are distributable subject to the limitations applicable to other distributions from the plan. (B) Distributions within 5 years after separation, etc \nIn no event shall a plan meet the requirements of this paragraph unless, under the plan, amounts distributed— (i) after separation from service or severance from employment, and (ii) within 5 years after the date of the earliest employer contribution to the plan, may be distributed only in a direct trustee-to-trustee transfer to a plan having the same distribution restrictions as the distributing plan. (e) Other definitions \nFor purposes of this section— (1) Eligible employer \nThe term eligible employer has the meaning given such term by section 408(p)(2)(C)(i). (2) Nonhighly compensated employees \nThe term highly compensated employee has the meaning given such term by section 414(q) (determined without regard to section 414(q)(1)(B)(ii)). (f) Special rules \n(1) Disallowance of deduction \nNo deduction shall be allowed for that portion of the qualified employer contributions paid or incurred for the taxable year which is equal to the credit determined under subsection (a). (2) Election not to claim credit \nThis section shall not apply to a taxpayer for any taxable year if such taxpayer elects to have this section not apply for such taxable year. (g) Recapture of credit on forfeited contributions \nIf any accrued benefit which is forfeitable by reason of subsection (d)(3) is forfeited, the employer’s tax imposed by this chapter for the taxable year in which the forfeiture occurs shall be increased by 35 percent of the employer contributions from which such benefit is derived to the extent such contributions were taken into account in determining the credit under this section. (h) Regulations \nThe Secretary shall prescribe such regulations as may be appropriate to carry out the purposes of this section, including regulations to prevent the abuse of the purposes of this section through the use of multiple plans. (i) Termination \nThis section shall not apply to any plan established after December 31, 2012..", "id": "HF73747650BA742340008822D69E9FD20", "header": "In general", "nested": [], "links": [ { "text": "chapter 1", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/26/1" } ] }, { "text": "(b) Credit allowed as part of general business credit \nSection 38(b) of such Code (defining current year business credit) is amended by striking plus at the end of paragraph (13), by striking the period at the end of paragraph (14) and inserting , plus , and by adding at the end the following new paragraph: (16) in the case of an eligible employer (as defined in section 45G(e)), the small employer pension plan contribution credit determined under section 45G(a)..", "id": "HE4AA727E1DD24AA5B65C61009CD5C792", "header": "Credit allowed as part of general business credit", "nested": [], "links": [] }, { "text": "(c) Conforming amendments \n(1) Section 39(d) of such Code is amended by adding at the end the following new paragraph: (11) No carryback of small employer pension plan contribution credit before January 1, 2002 \nNo portion of the unused business credit for any taxable year which is attributable to the small employer pension plan contribution credit determined under section 45G may be carried back to a taxable year beginning before January 1, 2005.. (2) Subsection (c) of section 196 of such Code is amended by striking and at the end of paragraph (9), by striking the period at the end of paragraph (10) and inserting , and , and by adding at the end the following new paragraph: (11) the small employer pension plan contribution credit determined under section 45G(a).. (3) The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item: Sec 45G. Small employer pension plan contributions.", "id": "HFBBAA07A11554F52A530CDB8D26D70CE", "header": "Conforming amendments", "nested": [], "links": [] }, { "text": "(d) Effective date \nThe amendments made by this section shall apply to contributions paid or incurred in taxable years beginning after December 31, 2004.", "id": "H9AD94432570A4A11AED841B3960000AC", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "chapter 1", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/26/1" } ] }, { "text": "45G. Small employer pension plan contributions \n(a) General rule \nFor purposes of section 38, in the case of an eligible employer, the small employer pension plan contribution credit determined under this section for any taxable year is an amount equal to 50 percent of the amount which would (but for subsection (f)(1)) be allowed as a deduction under section 404 for such taxable year for qualified employer contributions made to any qualified retirement plan on behalf of any nonhighly compensated employee. (b) Credit limited to 3 years \nThe credit allowable by this section shall be allowed only with respect to the period of 3 taxable years beginning with the taxable year in which the qualified retirement plan becomes effective. (c) Qualified employer contribution \nFor purposes of this section— (1) Defined contribution plans \nIn the case of a defined contribution plan, the term qualified employer contribution means the amount of nonelective and matching contributions to the plan made by the employer on behalf of any nonhighly compensated employee to the extent such amount does not exceed 3 percent of such employee’s compensation from the employer for the year. (2) Defined benefit plans \nIn the case of a defined benefit plan, the term qualified employer contribution means the amount of employer contributions to the plan made on behalf of any nonhighly compensated employee to the extent that the accrued benefit of such employee derived from such contributions for the year do not exceed the equivalent (as determined under regulations prescribed by the Secretary and without regard to contributions and benefits under the Social Security Act) of 3 percent of such employee’s compensation from the employer for the year. (d) Qualified retirement plan \n(1) In general \nThe term qualified retirement plan means any plan described in section 401(a) which includes a trust exempt from tax under section 501(a) if the plan meets— (A) the contribution requirements of paragraph (2), (B) the vesting requirements of paragraph (3), and (C) the distributions requirements of paragraph (4). (2) Contribution requirements \n(A) In general \nThe requirements of this paragraph are met if, under the plan— (i) the employer is required to make nonelective contributions of at least 1 percent of compensation (or the equivalent thereof in the case of a defined benefit plan) for each nonhighly compensated employee who is eligible to participate in the plan, and (ii) except in the case of a defined benefit plan, allocations of nonelective employer contributions are either in equal dollar amounts for all employees covered by the plan or bear a uniform relationship to the total compensation, or the basic or regular rate of compensation, of the employees covered by the plan. (B) Compensation limitation \nThe compensation taken into account under subparagraph (A) for any year shall not exceed the limitation in effect for such year under section 401(a)(17). (3) Vesting requirements \nThe requirements of this paragraph are met if the plan satisfies the requirements of subparagraph (A) or (B). (A) 3-year vesting \nA plan satisfies the requirements of this subparagraph if an employee who has completed at least 3 years of service has a nonforfeitable right to 100 percent of the employee’s accrued benefit derived from employer contributions. (B) 5-year graded vesting \nA plan satisfies the requirements of this subparagraph if an employee has a nonforfeitable right to a percentage of the employee’s accrued benefit derived from employer contributions determined under the following table: The nonforfeitable Years of service: percentage is: 1 20 2 40 3 60 4 80 5 or more 100. (4) Distribution requirements \n(A) In general \nExcept as provided in subparagraph (B), the requirements of this paragraph are met if, under the plan— (i) in the case of a profit-sharing or stock bonus plan, amounts are distributable only as provided in section 401(k)(2)(B), and (ii) in the case of a pension plan, amounts are distributable subject to the limitations applicable to other distributions from the plan. (B) Distributions within 5 years after separation, etc \nIn no event shall a plan meet the requirements of this paragraph unless, under the plan, amounts distributed— (i) after separation from service or severance from employment, and (ii) within 5 years after the date of the earliest employer contribution to the plan, may be distributed only in a direct trustee-to-trustee transfer to a plan having the same distribution restrictions as the distributing plan. (e) Other definitions \nFor purposes of this section— (1) Eligible employer \nThe term eligible employer has the meaning given such term by section 408(p)(2)(C)(i). (2) Nonhighly compensated employees \nThe term highly compensated employee has the meaning given such term by section 414(q) (determined without regard to section 414(q)(1)(B)(ii)). (f) Special rules \n(1) Disallowance of deduction \nNo deduction shall be allowed for that portion of the qualified employer contributions paid or incurred for the taxable year which is equal to the credit determined under subsection (a). (2) Election not to claim credit \nThis section shall not apply to a taxpayer for any taxable year if such taxpayer elects to have this section not apply for such taxable year. (g) Recapture of credit on forfeited contributions \nIf any accrued benefit which is forfeitable by reason of subsection (d)(3) is forfeited, the employer’s tax imposed by this chapter for the taxable year in which the forfeiture occurs shall be increased by 35 percent of the employer contributions from which such benefit is derived to the extent such contributions were taken into account in determining the credit under this section. (h) Regulations \nThe Secretary shall prescribe such regulations as may be appropriate to carry out the purposes of this section, including regulations to prevent the abuse of the purposes of this section through the use of multiple plans. (i) Termination \nThis section shall not apply to any plan established after December 31, 2012.", "id": "H999406EFCB6C4702AFD2F36B167C6EA5", "header": "Small employer pension plan contributions", "nested": [ { "text": "(a) General rule \nFor purposes of section 38, in the case of an eligible employer, the small employer pension plan contribution credit determined under this section for any taxable year is an amount equal to 50 percent of the amount which would (but for subsection (f)(1)) be allowed as a deduction under section 404 for such taxable year for qualified employer contributions made to any qualified retirement plan on behalf of any nonhighly compensated employee.", "id": "HE82E46B37A4D4B74BB39A4A798EA7CC3", "header": "General rule", "nested": [], "links": [] }, { "text": "(b) Credit limited to 3 years \nThe credit allowable by this section shall be allowed only with respect to the period of 3 taxable years beginning with the taxable year in which the qualified retirement plan becomes effective.", "id": "HF889AF7DA8034D19B0F94453FC5E2542", "header": "Credit limited to 3 years", "nested": [], "links": [] }, { "text": "(c) Qualified employer contribution \nFor purposes of this section— (1) Defined contribution plans \nIn the case of a defined contribution plan, the term qualified employer contribution means the amount of nonelective and matching contributions to the plan made by the employer on behalf of any nonhighly compensated employee to the extent such amount does not exceed 3 percent of such employee’s compensation from the employer for the year. (2) Defined benefit plans \nIn the case of a defined benefit plan, the term qualified employer contribution means the amount of employer contributions to the plan made on behalf of any nonhighly compensated employee to the extent that the accrued benefit of such employee derived from such contributions for the year do not exceed the equivalent (as determined under regulations prescribed by the Secretary and without regard to contributions and benefits under the Social Security Act) of 3 percent of such employee’s compensation from the employer for the year.", "id": "H86A8040667684F3E9B2238B58F8E008F", "header": "Qualified employer contribution", "nested": [], "links": [] }, { "text": "(d) Qualified retirement plan \n(1) In general \nThe term qualified retirement plan means any plan described in section 401(a) which includes a trust exempt from tax under section 501(a) if the plan meets— (A) the contribution requirements of paragraph (2), (B) the vesting requirements of paragraph (3), and (C) the distributions requirements of paragraph (4). (2) Contribution requirements \n(A) In general \nThe requirements of this paragraph are met if, under the plan— (i) the employer is required to make nonelective contributions of at least 1 percent of compensation (or the equivalent thereof in the case of a defined benefit plan) for each nonhighly compensated employee who is eligible to participate in the plan, and (ii) except in the case of a defined benefit plan, allocations of nonelective employer contributions are either in equal dollar amounts for all employees covered by the plan or bear a uniform relationship to the total compensation, or the basic or regular rate of compensation, of the employees covered by the plan. (B) Compensation limitation \nThe compensation taken into account under subparagraph (A) for any year shall not exceed the limitation in effect for such year under section 401(a)(17). (3) Vesting requirements \nThe requirements of this paragraph are met if the plan satisfies the requirements of subparagraph (A) or (B). (A) 3-year vesting \nA plan satisfies the requirements of this subparagraph if an employee who has completed at least 3 years of service has a nonforfeitable right to 100 percent of the employee’s accrued benefit derived from employer contributions. (B) 5-year graded vesting \nA plan satisfies the requirements of this subparagraph if an employee has a nonforfeitable right to a percentage of the employee’s accrued benefit derived from employer contributions determined under the following table: The nonforfeitable Years of service: percentage is: 1 20 2 40 3 60 4 80 5 or more 100. (4) Distribution requirements \n(A) In general \nExcept as provided in subparagraph (B), the requirements of this paragraph are met if, under the plan— (i) in the case of a profit-sharing or stock bonus plan, amounts are distributable only as provided in section 401(k)(2)(B), and (ii) in the case of a pension plan, amounts are distributable subject to the limitations applicable to other distributions from the plan. (B) Distributions within 5 years after separation, etc \nIn no event shall a plan meet the requirements of this paragraph unless, under the plan, amounts distributed— (i) after separation from service or severance from employment, and (ii) within 5 years after the date of the earliest employer contribution to the plan, may be distributed only in a direct trustee-to-trustee transfer to a plan having the same distribution restrictions as the distributing plan.", "id": "HF4F2F09AC6104CFA98DE5006B2AAF900", "header": "Qualified retirement plan", "nested": [], "links": [] }, { "text": "(e) Other definitions \nFor purposes of this section— (1) Eligible employer \nThe term eligible employer has the meaning given such term by section 408(p)(2)(C)(i). (2) Nonhighly compensated employees \nThe term highly compensated employee has the meaning given such term by section 414(q) (determined without regard to section 414(q)(1)(B)(ii)).", "id": "H648DB7B36CD54E429CA39386B59DFFE6", "header": "Other definitions", "nested": [], "links": [] }, { "text": "(f) Special rules \n(1) Disallowance of deduction \nNo deduction shall be allowed for that portion of the qualified employer contributions paid or incurred for the taxable year which is equal to the credit determined under subsection (a). (2) Election not to claim credit \nThis section shall not apply to a taxpayer for any taxable year if such taxpayer elects to have this section not apply for such taxable year.", "id": "HBF84CB09D1924A61A14315FEB300E785", "header": "Special rules", "nested": [], "links": [] }, { "text": "(g) Recapture of credit on forfeited contributions \nIf any accrued benefit which is forfeitable by reason of subsection (d)(3) is forfeited, the employer’s tax imposed by this chapter for the taxable year in which the forfeiture occurs shall be increased by 35 percent of the employer contributions from which such benefit is derived to the extent such contributions were taken into account in determining the credit under this section.", "id": "H467D5B5AA8EA4A2592309F66176E1C51", "header": "Recapture of credit on forfeited contributions", "nested": [], "links": [] }, { "text": "(h) Regulations \nThe Secretary shall prescribe such regulations as may be appropriate to carry out the purposes of this section, including regulations to prevent the abuse of the purposes of this section through the use of multiple plans.", "id": "HB754878B845C422BAA9F34007710EDB", "header": "Regulations", "nested": [], "links": [] }, { "text": "(i) Termination \nThis section shall not apply to any plan established after December 31, 2012.", "id": "H1261571BC65A44EBA71E05E586AB311D", "header": "Termination", "nested": [], "links": [] } ], "links": [] }, { "text": "303. Notice \nThe Secretary of the Treasury shall establish an ongoing program, in coordination with employers, under which the Secretary shall ensure that employees and other affected individuals remain fully and effectively notified of the availability of tax credits under sections 35, 35A, and 45G of the Internal Revenue Code of 1986.", "id": "HF7202B4E141F4C0B8B15C5DE048D669F", "header": "Notice", "nested": [], "links": [] }, { "text": "401. Modifications of joint and survivor annuity requirements \n(a) Amount of annuity \n(1) Option to elect qualified alternative joint and survivor annuity form of benefit upon waiver of qualified joint and survivor annuity form of benefit \nSection 417(a)(1)(A) of the Internal Revenue Code of 1986 is amended to read as follows: (A) under the plan, each participant— (i) may elect at any time during the applicable election period to waive the qualified joint and survivor annuity form of benefit, (ii) may elect at any time during the applicable election period to waive the qualified preretirement survivor annuity form of benefit, (iii) may elect at any time during the applicable election period, in any case in which the qualified joint and survivor annuity form of benefit is not provided by reason of a waiver under clause (i), to be provided a qualified alternative joint and survivor annuity form of benefit, and (iv) may revoke any such election at any time during the applicable election period, and. (2) Qualified alternative joint and survivor annuity defined \nSection 417 of such Code is amended by adding at the end the following new subsection: (i) Definition of qualified optional survivor annuity \n(1) In general \nFor purposes of this section, the term qualified alternative joint and survivor annuity means an annuity— (A) for the life of the participant with a survivor annuity for the life of the spouse which is equal to the applicable percentage (determined under paragraph (2)) of (and not greater than 100 percent of) the amount of the annuity which is payable during the joint lives of the participant and the spouse, and (B) which is the actuarial equivalent of a single annuity for the life of the participant. Such term also includes any annuity form having the effect of an annuity described in the preceding sentence. (2) Applicable percentage \n(A) In general \nFor purposes of paragraph (1)— (i) if the base survivor annuity percentage is less than 75 percent, the applicable percentage is 75 percent, and (ii) if the base survivor annuity percentage is equal to at least 75 percent, the applicable percentage is 50 percent. (B) Survivor annuity percentage \nFor purposes of subparagraph (A), the term survivor annuity percentage means the percentage which the survivor annuity under the plan’s qualified joint and survivor annuity form of benefit bears to the annuity payable during the joint lives of the participant and the spouse under such form of benefit.. (b) Exemption in the case of plans offering fully subsidized qualified joint and survivor annuities \nSection 417(a)(5) of the Internal Revenue Code of 1986 is amended— (1) by redesignating subparagraph (B) as subparagraph (C), and (2) by inserting after subparagraph (A) the following new subparagraph: (B) Qualified alternative joint and survivor annuities \nThe requirements of this subsection shall not apply with respect to the qualified alternative joint and survivor annuity form of benefit if the plan fully subsidizes the costs of the qualified joint and survivor annuity form of benefit.. (c) Illustration requirement \nSection 417(a)(3)(A)(i) of the Internal Revenue Code of 1986 is amended to read as follows: (i) the terms and conditions of the qualified joint and survivor annuity form of benefit offered by the plan, the terms and conditions of the qualified preretirement survivor annuity form of benefit offered by the plan, and the terms and conditions of the qualified alternative joint and survivor annuity form of benefit offered by the plan, accompanied by an illustration of the benefits under each such form of benefit for the particular participant and spouse and an acknowledgement form to be signed by the participant and the spouse that they have read and considered the illustration before any election is made pursuant to clause (i) or (ii) of subsection (c)(1)(A).. (d) Rule of construction \nFor purposes of section 411(d)(6) of the Internal Revenue Code of 1986, a plan shall not be treated as having decreased the accrued benefit of a participant solely by reason of the adoption of a plan amendment under which a qualified alternative joint and survivor annuity form of benefit is added to the plan in accordance with section 417(a)(1)(A)(ii) of such Code (as amended by this section).", "id": "HCF7FB582708B4B6DA2F6BE0858DAFEE", "header": "Modifications of joint and survivor annuity requirements", "nested": [ { "text": "(a) Amount of annuity \n(1) Option to elect qualified alternative joint and survivor annuity form of benefit upon waiver of qualified joint and survivor annuity form of benefit \nSection 417(a)(1)(A) of the Internal Revenue Code of 1986 is amended to read as follows: (A) under the plan, each participant— (i) may elect at any time during the applicable election period to waive the qualified joint and survivor annuity form of benefit, (ii) may elect at any time during the applicable election period to waive the qualified preretirement survivor annuity form of benefit, (iii) may elect at any time during the applicable election period, in any case in which the qualified joint and survivor annuity form of benefit is not provided by reason of a waiver under clause (i), to be provided a qualified alternative joint and survivor annuity form of benefit, and (iv) may revoke any such election at any time during the applicable election period, and. (2) Qualified alternative joint and survivor annuity defined \nSection 417 of such Code is amended by adding at the end the following new subsection: (i) Definition of qualified optional survivor annuity \n(1) In general \nFor purposes of this section, the term qualified alternative joint and survivor annuity means an annuity— (A) for the life of the participant with a survivor annuity for the life of the spouse which is equal to the applicable percentage (determined under paragraph (2)) of (and not greater than 100 percent of) the amount of the annuity which is payable during the joint lives of the participant and the spouse, and (B) which is the actuarial equivalent of a single annuity for the life of the participant. Such term also includes any annuity form having the effect of an annuity described in the preceding sentence. (2) Applicable percentage \n(A) In general \nFor purposes of paragraph (1)— (i) if the base survivor annuity percentage is less than 75 percent, the applicable percentage is 75 percent, and (ii) if the base survivor annuity percentage is equal to at least 75 percent, the applicable percentage is 50 percent. (B) Survivor annuity percentage \nFor purposes of subparagraph (A), the term survivor annuity percentage means the percentage which the survivor annuity under the plan’s qualified joint and survivor annuity form of benefit bears to the annuity payable during the joint lives of the participant and the spouse under such form of benefit..", "id": "HD79DCA81F6EB45CFB1D3359B83419571", "header": "Amount of annuity", "nested": [], "links": [ { "text": "Section 417(a)(1)(A)", "legal-doc": "usc", "parsable-cite": "usc/26/417" } ] }, { "text": "(b) Exemption in the case of plans offering fully subsidized qualified joint and survivor annuities \nSection 417(a)(5) of the Internal Revenue Code of 1986 is amended— (1) by redesignating subparagraph (B) as subparagraph (C), and (2) by inserting after subparagraph (A) the following new subparagraph: (B) Qualified alternative joint and survivor annuities \nThe requirements of this subsection shall not apply with respect to the qualified alternative joint and survivor annuity form of benefit if the plan fully subsidizes the costs of the qualified joint and survivor annuity form of benefit..", "id": "H5F6E9FFC17B240FB837D8E2E01371150", "header": "Exemption in the case of plans offering fully subsidized qualified joint and survivor annuities", "nested": [], "links": [ { "text": "Section 417(a)(5)", "legal-doc": "usc", "parsable-cite": "usc/26/417" } ] }, { "text": "(c) Illustration requirement \nSection 417(a)(3)(A)(i) of the Internal Revenue Code of 1986 is amended to read as follows: (i) the terms and conditions of the qualified joint and survivor annuity form of benefit offered by the plan, the terms and conditions of the qualified preretirement survivor annuity form of benefit offered by the plan, and the terms and conditions of the qualified alternative joint and survivor annuity form of benefit offered by the plan, accompanied by an illustration of the benefits under each such form of benefit for the particular participant and spouse and an acknowledgement form to be signed by the participant and the spouse that they have read and considered the illustration before any election is made pursuant to clause (i) or (ii) of subsection (c)(1)(A)..", "id": "HCDC459C61C004874BBCA99D1B8294BCA", "header": "Illustration requirement", "nested": [], "links": [ { "text": "Section 417(a)(3)(A)(i)", "legal-doc": "usc", "parsable-cite": "usc/26/417" } ] }, { "text": "(d) Rule of construction \nFor purposes of section 411(d)(6) of the Internal Revenue Code of 1986, a plan shall not be treated as having decreased the accrued benefit of a participant solely by reason of the adoption of a plan amendment under which a qualified alternative joint and survivor annuity form of benefit is added to the plan in accordance with section 417(a)(1)(A)(ii) of such Code (as amended by this section).", "id": "HE3734C4A9A3C4129A53333E6B535594C", "header": "Rule of construction", "nested": [], "links": [ { "text": "section 411(d)(6)", "legal-doc": "usc", "parsable-cite": "usc/26/411" } ] } ], "links": [ { "text": "Section 417(a)(1)(A)", "legal-doc": "usc", "parsable-cite": "usc/26/417" }, { "text": "Section 417(a)(5)", "legal-doc": "usc", "parsable-cite": "usc/26/417" }, { "text": "Section 417(a)(3)(A)(i)", "legal-doc": "usc", "parsable-cite": "usc/26/417" }, { "text": "section 411(d)(6)", "legal-doc": "usc", "parsable-cite": "usc/26/411" } ] }, { "text": "402. Entitlement of divorced spouses to railroad retirement annuities independent of actual entitlement of employee \n(a) In general \nSection 2 of the Railroad Retirement Act of 1974 ( 45 U.S.C. 231a ) is amended— (1) in subsection (c)(4)(i), by striking (A) is entitled to an annuity under subsection (a)(1) and (B) ; and (2) in subsection (e)(5), by striking or divorced wife the second place it appears. (b) Effective date \nThe amendments made by this section shall take effect 1 year after the date of the enactment of this Act.", "id": "HD84953F40B2B4CE1A5D0A680131C5C38", "header": "Entitlement of divorced spouses to railroad retirement annuities independent of actual entitlement of employee", "nested": [ { "text": "(a) In general \nSection 2 of the Railroad Retirement Act of 1974 ( 45 U.S.C. 231a ) is amended— (1) in subsection (c)(4)(i), by striking (A) is entitled to an annuity under subsection (a)(1) and (B) ; and (2) in subsection (e)(5), by striking or divorced wife the second place it appears.", "id": "HAB8C15091ABE4635AD4D57B5B5FC9BAD", "header": "In general", "nested": [], "links": [ { "text": "45 U.S.C. 231a", "legal-doc": "usc", "parsable-cite": "usc/45/231a" } ] }, { "text": "(b) Effective date \nThe amendments made by this section shall take effect 1 year after the date of the enactment of this Act.", "id": "H4915640D36694262A27C008CE0860013", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "45 U.S.C. 231a", "legal-doc": "usc", "parsable-cite": "usc/45/231a" } ] }, { "text": "403. Extension of tier II railroad retirement benefits to surviving former spouses pursuant to divorce agreements \n(a) In general \nSection 5 of the Railroad Retirement Act of 1974 ( 45 U.S.C. 231d ) is amended by adding at the end the following: (d) Notwithstanding any other provision of law, the payment of any portion of an annuity computed under section 3(b) to a surviving former spouse in accordance with a court decree of divorce, annulment, or legal separation or the terms of any court-approved property settlement incident to any such court decree shall not be terminated upon the death of the individual who performed the service with respect to which such annuity is so computed unless such termination is otherwise required by the terms of such court decree. (b) Effective date \nThe amendment made by this section shall take effect 1 year after the date of the enactment of this Act.", "id": "HAF37B363C19B45BFA714FA823525A8AE", "header": "Extension of tier II railroad retirement benefits to surviving former spouses pursuant to divorce agreements", "nested": [ { "text": "(a) In general \nSection 5 of the Railroad Retirement Act of 1974 ( 45 U.S.C. 231d ) is amended by adding at the end the following: (d) Notwithstanding any other provision of law, the payment of any portion of an annuity computed under section 3(b) to a surviving former spouse in accordance with a court decree of divorce, annulment, or legal separation or the terms of any court-approved property settlement incident to any such court decree shall not be terminated upon the death of the individual who performed the service with respect to which such annuity is so computed unless such termination is otherwise required by the terms of such court decree.", "id": "H530AFD5E54224D759E4891E0D08DE8DC", "header": "In general", "nested": [], "links": [ { "text": "45 U.S.C. 231d", "legal-doc": "usc", "parsable-cite": "usc/45/231d" } ] }, { "text": "(b) Effective date \nThe amendment made by this section shall take effect 1 year after the date of the enactment of this Act.", "id": "H85F0988B7DC242B0B9CA6B937D9148F9", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "45 U.S.C. 231d", "legal-doc": "usc", "parsable-cite": "usc/45/231d" } ] }, { "text": "501. Defined benefit plan with deferred compensation arrangement in a single plan \n(a) Defined benefit plan permitted to have 401(k) arrangement \n(1) In general \nParagraphs (1) and (2) of section 401(k) of the Internal Revenue Code of 1986 are both amended by striking or a rural cooperative plan and inserting , a rural cooperative plan, or a defined benefit plan. (2) Adjustment of 401(k) rules \nSection 401(k) of such Code is amended— (A) in paragraph (2)(B)(i)(III), by striking in the case of a profit-sharing or stock bonus plan, , (B) in paragraph (2)(B)(i)(IV), by striking to a profit-sharing or stock bonus plan , and (C) in paragraph (10)(A), by inserting before the period at the end the following: or a defined benefit plan that includes a qualified cash or deferred arrangement. (b) Qualified cash or deferred arrangement under defined benefit plan satisfies definitely determinable benefit requirement \nSubsection (a) of section 401 of such Code is amended by inserting after paragraph (34) the following new paragraph: (35) Qualified cash or deferred arrangement under defined benefit plan satisfies definitely determinable benefit requirement \nA trust forming part of a defined benefit plan shall not be treated as failing to constitute a qualified trust merely because such plan includes a qualified cash or deferred arrangement.. (c) Clarification of extent to which defined contribution and defined benefit rules apply \n(1) Treatment as defined benefit plan \nSubsection (j) of section 414 of such Code is amended to read as follows: (j) Defined benefit plan \nFor purposes of this part— (1) In general \nThe term defined benefit plan means any plan which is not a defined contribution plan. (2) Plans including qualified cash and deferred arrangements \nExcept as otherwise provided in this title— (A) a pension plan which provides benefits other than benefits described in subsection (i) shall not be treated as a defined contribution plan on the basis of the inclusion in the plan of a qualified cash or deferred arrangement, and (B) any such pension plan which includes such an arrangement shall be treated as a single plan.. (2) Special rules \nSubsection (k) of section 414 of such Code is amended— (A) by redesignating paragraphs (1), (2), and (3), as subparagraphs (A), (B), and (C), respectively, and by moving such subparagraphs 2 ems to the right, (B) by striking A defined benefit plan and inserting the following: (1) Plans with separate accounts \nA defined benefit plan , and (C) by adding at the end the following new paragraph: (2) Plans with cash or deferred arrangements \nIn the case of a defined benefit plan which includes a qualified cash or deferred arrangement— (A) rules similar to the rules of subparagraphs (A), (B), and (C) of paragraph (1) shall apply, (B) for purposes of section 401(a)(4) (relating to nondiscrimination testing), section 401(a)(9) (relating to required distributions), section 401(a)(26) (relating to additional participation requirements), section 401(a)(31) (relating to direct transfer of eligible rollover distributions), section 404 (relating to deduction for contributions of an employer to an employees’ trust or annuity plan and compensation under a deferred-payment plan), section 412 (relating to minimum funding standards), section 414(l) (relating to merger and consolidations of plans or transfers of plan assets), and section 416 (relating to special rules for top-heavy plans), such plan shall be treated as consisting of a defined contribution plan to the extent benefits are attributable to such arrangement and as a defined benefit plan with respect to the remaining portion of benefits under the plan, and (C) for purposes of sections 411(a)(11) and 417(e), the present value of the portion of the benefit attributable to such arrangement shall be treated as being the fair market value of such arrangement.. (d) Application of pre-termination restrictions \nThe Secretary of the Treasury shall amend Treasury Regulation section 1.401(a)(4)-5(b) to provide that, in the case of a defined benefit plan which includes a qualified cash or deferred arrangement— (1) the provisions of such section shall not apply to such arrangement, and (2) the assets attributable to such arrangement shall be disregarded in applying the requirements of such section to such plan. (e) Treatment as single plan for information reporting \nSubsection (a) of section 6058 of such Code is amended by adding at the end the following: For purposes of the preceding sentence, a defined benefit plan which includes a qualified cash or deferred arrangement shall be treated as a single plan.. (f) Rules for income tax deduction \n(1) Treatment of cash or deferred arrangement as separate profit sharing plan \nSubparagraph (A) of section 404(a)(3) of such Code is amended by adding at the end the following new clause: (vi) For purposes of this subparagraph, employer contributions made with respect to a qualified cash or deferred arrangement which is part of a defined benefit plan shall be treated in the same manner as contributions to a stock bonus or profit-sharing plan.. (2) Special deduction limit for defined benefit plan \nParagraph (1) of section 404(a) is amended by redesignating subparagraphs (E) and (F) as subparagraphs (F) and (G), respectively, and by inserting after subparagraph (D) the following new subparagraph: (E) Special rule for defined benefit plans with qualified cash or deferred arrangements \nIn the case of a defined benefit plan which includes a qualified cash or deferred arrangement, the maximum amount deductible under this section (notwithstanding any other limitation under this paragraph) with respect to such plan shall not be less than the full funding limitation that would be determined under section 412(c)(7)(A) if 130 percent of the amount determined clause (i) of such section were substituted for the amount otherwise determined under clause (i).. (g) Allowable reductions in rate of benefit accrual \nSubsection (e) of section 4980F of such Code is amended by adding at the end the following new paragraph: (6) Exception for qualified cash or deferred arrangements \nA plan shall not be treated as failing to meet the requirements of paragraph (1) merely because of a reduction in, or elimination of, any contributions to a qualified cash or deferred arrangement which is part of such plan.. (h) Defined benefit funding standards not to apply to qualified cash or deferred arrangements \nSubsection (h) of section 412 of such Code is amended by striking or at the end of paragraph (5), by striking the period at the end of paragraph (6) and inserting , or , and by inserting after paragraph (6) the following new paragraph: (7) any qualified cash or deferred arrangement which is part of a defined benefit plan.. (i) Inclusion in cafeteria plan \nSubparagraph (B) of section 125(d)(2) of such Code is amended by striking or rural cooperative plan (within the meaning of section 401(k)(7)) and inserting rural cooperative plan (within the meaning of section 401(k)(7)), or a defined benefit plan. (j) Vesting requirements \nSection 411(a) is amended by adding the following new paragraph: (13) Faster vesting for accruals under defined benefit plans with cash or deferred arrangements \nIn the case of a defined benefit plan which includes a qualified cash or deferred arrangement, benefit accruals and employer contributions (other than elective deferrals, as defined in section 401(m)(4)) shall be treated as matching contributions for purposes of paragraph (12).. (k) Effective date \nThe amendments made by this section shall apply to plan years beginning after December 31, 2005.", "id": "HA3486C3D087D4F98B11D4CCAF7822809", "header": "Defined benefit plan with deferred compensation arrangement in a single plan", "nested": [ { "text": "(a) Defined benefit plan permitted to have 401(k) arrangement \n(1) In general \nParagraphs (1) and (2) of section 401(k) of the Internal Revenue Code of 1986 are both amended by striking or a rural cooperative plan and inserting , a rural cooperative plan, or a defined benefit plan. (2) Adjustment of 401(k) rules \nSection 401(k) of such Code is amended— (A) in paragraph (2)(B)(i)(III), by striking in the case of a profit-sharing or stock bonus plan, , (B) in paragraph (2)(B)(i)(IV), by striking to a profit-sharing or stock bonus plan , and (C) in paragraph (10)(A), by inserting before the period at the end the following: or a defined benefit plan that includes a qualified cash or deferred arrangement.", "id": "H9797082865F24E2CB52E1BAA34783E87", "header": "Defined benefit plan permitted to have 401(k) arrangement", "nested": [], "links": [ { "text": "section 401(k)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "(b) Qualified cash or deferred arrangement under defined benefit plan satisfies definitely determinable benefit requirement \nSubsection (a) of section 401 of such Code is amended by inserting after paragraph (34) the following new paragraph: (35) Qualified cash or deferred arrangement under defined benefit plan satisfies definitely determinable benefit requirement \nA trust forming part of a defined benefit plan shall not be treated as failing to constitute a qualified trust merely because such plan includes a qualified cash or deferred arrangement..", "id": "H90F432E19327413800331659227FC41", "header": "Qualified cash or deferred arrangement under defined benefit plan satisfies definitely determinable benefit requirement", "nested": [], "links": [] }, { "text": "(c) Clarification of extent to which defined contribution and defined benefit rules apply \n(1) Treatment as defined benefit plan \nSubsection (j) of section 414 of such Code is amended to read as follows: (j) Defined benefit plan \nFor purposes of this part— (1) In general \nThe term defined benefit plan means any plan which is not a defined contribution plan. (2) Plans including qualified cash and deferred arrangements \nExcept as otherwise provided in this title— (A) a pension plan which provides benefits other than benefits described in subsection (i) shall not be treated as a defined contribution plan on the basis of the inclusion in the plan of a qualified cash or deferred arrangement, and (B) any such pension plan which includes such an arrangement shall be treated as a single plan.. (2) Special rules \nSubsection (k) of section 414 of such Code is amended— (A) by redesignating paragraphs (1), (2), and (3), as subparagraphs (A), (B), and (C), respectively, and by moving such subparagraphs 2 ems to the right, (B) by striking A defined benefit plan and inserting the following: (1) Plans with separate accounts \nA defined benefit plan , and (C) by adding at the end the following new paragraph: (2) Plans with cash or deferred arrangements \nIn the case of a defined benefit plan which includes a qualified cash or deferred arrangement— (A) rules similar to the rules of subparagraphs (A), (B), and (C) of paragraph (1) shall apply, (B) for purposes of section 401(a)(4) (relating to nondiscrimination testing), section 401(a)(9) (relating to required distributions), section 401(a)(26) (relating to additional participation requirements), section 401(a)(31) (relating to direct transfer of eligible rollover distributions), section 404 (relating to deduction for contributions of an employer to an employees’ trust or annuity plan and compensation under a deferred-payment plan), section 412 (relating to minimum funding standards), section 414(l) (relating to merger and consolidations of plans or transfers of plan assets), and section 416 (relating to special rules for top-heavy plans), such plan shall be treated as consisting of a defined contribution plan to the extent benefits are attributable to such arrangement and as a defined benefit plan with respect to the remaining portion of benefits under the plan, and (C) for purposes of sections 411(a)(11) and 417(e), the present value of the portion of the benefit attributable to such arrangement shall be treated as being the fair market value of such arrangement..", "id": "H9F2DD576BCDA468C9BBAD92E6FF3D200", "header": "Clarification of extent to which defined contribution and defined benefit rules apply", "nested": [], "links": [] }, { "text": "(d) Application of pre-termination restrictions \nThe Secretary of the Treasury shall amend Treasury Regulation section 1.401(a)(4)-5(b) to provide that, in the case of a defined benefit plan which includes a qualified cash or deferred arrangement— (1) the provisions of such section shall not apply to such arrangement, and (2) the assets attributable to such arrangement shall be disregarded in applying the requirements of such section to such plan.", "id": "H0520C14E1FA64E1497B78D1536637CC", "header": "Application of pre-termination restrictions", "nested": [], "links": [] }, { "text": "(e) Treatment as single plan for information reporting \nSubsection (a) of section 6058 of such Code is amended by adding at the end the following: For purposes of the preceding sentence, a defined benefit plan which includes a qualified cash or deferred arrangement shall be treated as a single plan..", "id": "H07E7C1E27A334DB9004B10B7D696AAB", "header": "Treatment as single plan for information reporting", "nested": [], "links": [] }, { "text": "(f) Rules for income tax deduction \n(1) Treatment of cash or deferred arrangement as separate profit sharing plan \nSubparagraph (A) of section 404(a)(3) of such Code is amended by adding at the end the following new clause: (vi) For purposes of this subparagraph, employer contributions made with respect to a qualified cash or deferred arrangement which is part of a defined benefit plan shall be treated in the same manner as contributions to a stock bonus or profit-sharing plan.. (2) Special deduction limit for defined benefit plan \nParagraph (1) of section 404(a) is amended by redesignating subparagraphs (E) and (F) as subparagraphs (F) and (G), respectively, and by inserting after subparagraph (D) the following new subparagraph: (E) Special rule for defined benefit plans with qualified cash or deferred arrangements \nIn the case of a defined benefit plan which includes a qualified cash or deferred arrangement, the maximum amount deductible under this section (notwithstanding any other limitation under this paragraph) with respect to such plan shall not be less than the full funding limitation that would be determined under section 412(c)(7)(A) if 130 percent of the amount determined clause (i) of such section were substituted for the amount otherwise determined under clause (i)..", "id": "H342846CE0E3D4DAE8825DD86E074D829", "header": "Rules for income tax deduction", "nested": [], "links": [] }, { "text": "(g) Allowable reductions in rate of benefit accrual \nSubsection (e) of section 4980F of such Code is amended by adding at the end the following new paragraph: (6) Exception for qualified cash or deferred arrangements \nA plan shall not be treated as failing to meet the requirements of paragraph (1) merely because of a reduction in, or elimination of, any contributions to a qualified cash or deferred arrangement which is part of such plan..", "id": "HA82015AF596C42EBBB6DCD7DAD808671", "header": "Allowable reductions in rate of benefit accrual", "nested": [], "links": [] }, { "text": "(h) Defined benefit funding standards not to apply to qualified cash or deferred arrangements \nSubsection (h) of section 412 of such Code is amended by striking or at the end of paragraph (5), by striking the period at the end of paragraph (6) and inserting , or , and by inserting after paragraph (6) the following new paragraph: (7) any qualified cash or deferred arrangement which is part of a defined benefit plan..", "id": "H0CE91081939F4975BA828DD7EC95EC14", "header": "Defined benefit funding standards not to apply to qualified cash or deferred arrangements", "nested": [], "links": [] }, { "text": "(i) Inclusion in cafeteria plan \nSubparagraph (B) of section 125(d)(2) of such Code is amended by striking or rural cooperative plan (within the meaning of section 401(k)(7)) and inserting rural cooperative plan (within the meaning of section 401(k)(7)), or a defined benefit plan.", "id": "H52B97B0DD9B34CE2BD8C21E93042A869", "header": "Inclusion in cafeteria plan", "nested": [], "links": [] }, { "text": "(j) Vesting requirements \nSection 411(a) is amended by adding the following new paragraph: (13) Faster vesting for accruals under defined benefit plans with cash or deferred arrangements \nIn the case of a defined benefit plan which includes a qualified cash or deferred arrangement, benefit accruals and employer contributions (other than elective deferrals, as defined in section 401(m)(4)) shall be treated as matching contributions for purposes of paragraph (12)..", "id": "HEA6FA9A7F4EA4ACBA01B1E6DA81050D5", "header": "Vesting requirements", "nested": [], "links": [] }, { "text": "(k) Effective date \nThe amendments made by this section shall apply to plan years beginning after December 31, 2005.", "id": "H5C2C396AEBCB4F8FB38B2FA58F18261", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "section 401(k)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "502. Defined benefit accruals satisfy 401(k) safe harbor \n(a) In general \nParagraph (12) of section 401(k) of the Internal Revenue Code of 1986 is amended— (1) in subparagraph (A)(i) by inserting or the benefit accrual requirements of subparagraph (D) after or (C) , and (2) by redesignating subparagraphs (D), (E), and (F) as subparagraphs (E), (F), and (G), respectively, and by inserting after subparagraph (C) the following new subparagraph: (D) Benefit accruals \n(i) In general \nThe requirements of this subparagraph are met if the requirements of clause (ii) or (iii) are met. (ii) Traditional formula \n(I) In general \nThe requirements of this clause are met if, under the arrangement, the employer is required, without regard to whether the employee makes an elective contribution or employee contribution, to provide an accrual under a defined benefit plan on behalf of each employee who is not a highly compensated employee and who is eligible to participate in the arrangement. Such accrual shall be for each year in which the participant is eligible for the arrangement, and the plan is satisfying the requirements of this subparagraph, in an amount equal to at least 1 percent of average compensation multiplied by years of service, payable as a life annuity commencing at age 65. The plan may cap the cumulative benefit accrued under such formula to an amount that is not less than 20 percent of average compensation. (II) Average compensation \nFor purposes of subclause (I), the term average compensation means the average compensation (as defined by section 414(s)) received by the participant during the testing period. The plan may define the testing period as all years of service of the participant, as a period of consecutive years of service of the participant which produces the highest average compensation, or as a period of consecutive years of service which includes the last year of service of the participant. The testing period shall not include fewer than 3 years of service except in the case of participants with fewer than 3 years of service. (III) Years of service \nFor purposes of this clause, a year of service shall be determined under paragraphs (4), (5), and (6) of section 411(a), except the plan need not include as a year of service any year of service ending in a plan year that began before the employee became a participant in the plan, or any year of service that begins in a plan year in which the participant dies, has a severance from employment, or becomes disabled (within the meaning of section 72(m)(7)). (IV) Adjustments for early and late retirement \nThe amount determined under subclause (I) shall be adjusted actuarially if benefits under the plan commence later than age 65. Such amount may (but is not required to) be adjusted for early retirement if benefits commence (or normal retirement age is) earlier than age 65. (iii) Cash balance formula \n(I) In general \nThe requirements of this clause are met if, under the arrangement, the employer is required, without regard to whether the employee makes an elective contribution or employee contribution, to provide a hypothetical allocation under a cash balance plan on behalf of each employee who is not a highly compensated employee and who is eligible to participate in the arrangement in any year in an amount which is not less than the product of the average compensation of the employee (within the meaning of clause (ii)(II), multiplied by the cash balance contribution percentage with respect to such employee. (II) Cash balance contribution percentage \nFor purposes of subclause (I), the term cash balance contribution percentage means, with respect to any employee, 2 percent if such employee has not attained age 31, 4 percent if such employee has attained age 31 but has not attained age 40, 6 percent if such employee has attained age 40 but has not attained age 50, and 8 percent if such employee has attained age 50. (III) Cash balance plan defined \nFor purposes of subclause (I), a cash balance plan is a defined benefit plan that defines an employee’s benefits by reference to the employee’s hypothetical account. Such hypothetical account is determined by reference, first, to hypothetical contribution allocations, and, second, to hypothetical interest credits (on an annual or more frequent basis). The right to future interest credits are determined without regard to future service. (IV) No predecessor defined benefit plan \nThe requirements of this clause shall not be treated as met if, during the 3-year period immediately preceding the effective date of a cash balance plan meeting the requirements of subclause (I), the employer (or any related employer, within the meaning of subsection (b), (c), (m), or (o) of section 414), maintained a defined benefit plan that was not a cash balance plan and which benefited any participant who is a participant in the plan which meets the requirements of subclause (I).. (b) Conforming amendments \n(1) Section 401(k)(12)(A)(ii) of such Code is amended by striking subparagraph (D) and inserting subparagraph (E). (2) Section 401(k)(12)(F)(i) of such Code (as redesignated by subsection (a)) is amended by adding at the end the following: An arrangement shall not be treated as meeting the requirements of subparagraph (D) of this paragraph unless the requirements of paragraph (2)(B) are met with respect to the benefit accruals provided pursuant to subparagraph (D) of this paragraph.. (3) Section 401(k)(12)(F)(ii) of such Code (as redesignated by subsection (a)) is amended— (A) by striking subparagraph (B) or (C) the first place it appears and inserting subparagraph (B), (C), or (D) , and (B) by inserting and benefit accruals under subparagraph (D) after subparagraph (B) or (C) the second place it appears. (4) Section 416(g)(4)(H) of such Code is amended to read as follows: (H) Cash or deferred arrangements using alternative methods of meeting nondiscrimination requirements \n(i) In general \nThe term top-heavy plan shall not include a plan described in clause (ii) or (iii). (ii) Defined contribution plan \nThe plan described in this clause is a defined contribution plan which consists solely of— (I) a cash or deferred arrangement which meets the requirements of section 401(k)(12), and (II) matching contributions with respect to which the requirements of section 401(m)(11) are met. (iii) Defined benefit plan \nThe plan described in this clause is a defined benefit plan which consists exclusively of one or more— (I) cash or deferred arrangements which meet the requirements of section 401(k)(12), and (II) qualified matching accruals, as described in section 401(m)(12). If, but for this subparagraph, a plan would be treated as a top-heavy plan because it is a member of an aggregation group which is a top-heavy group, contributions or benefits under the plan may be taken into account in determining whether any other plan in the group meets the requirements of subsection (c) and, a plan meeting the requirements of section 401(k)(12)(D) shall be deemed to satisfy the requirements of subsection (c).. (5) Special rule for plan with multiple accrual formulas \nParagraph (1) of section 411(b) of such Code is amended by adding at the end the following new subparagraph: (I) Multiple formulas \n(i) In general \nIf a defined benefit plan contains multiple accrual formulas, the requirements of this paragraph may be satisfied separately for each formula. (ii) Certain benefit accruals treated as multiple accruals treated as multiple accrual formulas \nFor purposes of this subparagraph, a plan has multiple accrual formulas if a participant’s accrued benefit is determined either as the greater of the benefit determined under two or more separate formulas or as the sum of the benefit determined under two or more separate formulas. (iii) Certain formulas treated as separate accrual formulas \nFor purposes of clause (i), the benefit formulas described in section 401(k)(12)(D) and section 401(m)(12) shall be treated as separate from the minimum benefit formula described in section 416(c)(1).. (c) Effective date \n(1) In general \nExcept as provided in paragraph (2), the amendments made by this section shall apply to years beginning after December 31, 2005. (2) Cash balance formula \nSection 401(k)(12)(D)(iii) of the Internal Revenue Code of 1986, as added by subsection (a)(2), shall not apply to plan years beginning before the effective date of an Act which provides for the application of section 411(b)(1)(H) of such Code to cash balance plans.", "id": "HBB1AFC735E9C4D35BC8D45EC1E08BAAE", "header": "Defined benefit accruals satisfy 401(k) safe harbor", "nested": [ { "text": "(a) In general \nParagraph (12) of section 401(k) of the Internal Revenue Code of 1986 is amended— (1) in subparagraph (A)(i) by inserting or the benefit accrual requirements of subparagraph (D) after or (C) , and (2) by redesignating subparagraphs (D), (E), and (F) as subparagraphs (E), (F), and (G), respectively, and by inserting after subparagraph (C) the following new subparagraph: (D) Benefit accruals \n(i) In general \nThe requirements of this subparagraph are met if the requirements of clause (ii) or (iii) are met. (ii) Traditional formula \n(I) In general \nThe requirements of this clause are met if, under the arrangement, the employer is required, without regard to whether the employee makes an elective contribution or employee contribution, to provide an accrual under a defined benefit plan on behalf of each employee who is not a highly compensated employee and who is eligible to participate in the arrangement. Such accrual shall be for each year in which the participant is eligible for the arrangement, and the plan is satisfying the requirements of this subparagraph, in an amount equal to at least 1 percent of average compensation multiplied by years of service, payable as a life annuity commencing at age 65. The plan may cap the cumulative benefit accrued under such formula to an amount that is not less than 20 percent of average compensation. (II) Average compensation \nFor purposes of subclause (I), the term average compensation means the average compensation (as defined by section 414(s)) received by the participant during the testing period. The plan may define the testing period as all years of service of the participant, as a period of consecutive years of service of the participant which produces the highest average compensation, or as a period of consecutive years of service which includes the last year of service of the participant. The testing period shall not include fewer than 3 years of service except in the case of participants with fewer than 3 years of service. (III) Years of service \nFor purposes of this clause, a year of service shall be determined under paragraphs (4), (5), and (6) of section 411(a), except the plan need not include as a year of service any year of service ending in a plan year that began before the employee became a participant in the plan, or any year of service that begins in a plan year in which the participant dies, has a severance from employment, or becomes disabled (within the meaning of section 72(m)(7)). (IV) Adjustments for early and late retirement \nThe amount determined under subclause (I) shall be adjusted actuarially if benefits under the plan commence later than age 65. Such amount may (but is not required to) be adjusted for early retirement if benefits commence (or normal retirement age is) earlier than age 65. (iii) Cash balance formula \n(I) In general \nThe requirements of this clause are met if, under the arrangement, the employer is required, without regard to whether the employee makes an elective contribution or employee contribution, to provide a hypothetical allocation under a cash balance plan on behalf of each employee who is not a highly compensated employee and who is eligible to participate in the arrangement in any year in an amount which is not less than the product of the average compensation of the employee (within the meaning of clause (ii)(II), multiplied by the cash balance contribution percentage with respect to such employee. (II) Cash balance contribution percentage \nFor purposes of subclause (I), the term cash balance contribution percentage means, with respect to any employee, 2 percent if such employee has not attained age 31, 4 percent if such employee has attained age 31 but has not attained age 40, 6 percent if such employee has attained age 40 but has not attained age 50, and 8 percent if such employee has attained age 50. (III) Cash balance plan defined \nFor purposes of subclause (I), a cash balance plan is a defined benefit plan that defines an employee’s benefits by reference to the employee’s hypothetical account. Such hypothetical account is determined by reference, first, to hypothetical contribution allocations, and, second, to hypothetical interest credits (on an annual or more frequent basis). The right to future interest credits are determined without regard to future service. (IV) No predecessor defined benefit plan \nThe requirements of this clause shall not be treated as met if, during the 3-year period immediately preceding the effective date of a cash balance plan meeting the requirements of subclause (I), the employer (or any related employer, within the meaning of subsection (b), (c), (m), or (o) of section 414), maintained a defined benefit plan that was not a cash balance plan and which benefited any participant who is a participant in the plan which meets the requirements of subclause (I)..", "id": "H2812A8DC13D1421CA93C30CC2420EFB5", "header": "In general", "nested": [], "links": [ { "text": "section 401(k)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "(b) Conforming amendments \n(1) Section 401(k)(12)(A)(ii) of such Code is amended by striking subparagraph (D) and inserting subparagraph (E). (2) Section 401(k)(12)(F)(i) of such Code (as redesignated by subsection (a)) is amended by adding at the end the following: An arrangement shall not be treated as meeting the requirements of subparagraph (D) of this paragraph unless the requirements of paragraph (2)(B) are met with respect to the benefit accruals provided pursuant to subparagraph (D) of this paragraph.. (3) Section 401(k)(12)(F)(ii) of such Code (as redesignated by subsection (a)) is amended— (A) by striking subparagraph (B) or (C) the first place it appears and inserting subparagraph (B), (C), or (D) , and (B) by inserting and benefit accruals under subparagraph (D) after subparagraph (B) or (C) the second place it appears. (4) Section 416(g)(4)(H) of such Code is amended to read as follows: (H) Cash or deferred arrangements using alternative methods of meeting nondiscrimination requirements \n(i) In general \nThe term top-heavy plan shall not include a plan described in clause (ii) or (iii). (ii) Defined contribution plan \nThe plan described in this clause is a defined contribution plan which consists solely of— (I) a cash or deferred arrangement which meets the requirements of section 401(k)(12), and (II) matching contributions with respect to which the requirements of section 401(m)(11) are met. (iii) Defined benefit plan \nThe plan described in this clause is a defined benefit plan which consists exclusively of one or more— (I) cash or deferred arrangements which meet the requirements of section 401(k)(12), and (II) qualified matching accruals, as described in section 401(m)(12). If, but for this subparagraph, a plan would be treated as a top-heavy plan because it is a member of an aggregation group which is a top-heavy group, contributions or benefits under the plan may be taken into account in determining whether any other plan in the group meets the requirements of subsection (c) and, a plan meeting the requirements of section 401(k)(12)(D) shall be deemed to satisfy the requirements of subsection (c).. (5) Special rule for plan with multiple accrual formulas \nParagraph (1) of section 411(b) of such Code is amended by adding at the end the following new subparagraph: (I) Multiple formulas \n(i) In general \nIf a defined benefit plan contains multiple accrual formulas, the requirements of this paragraph may be satisfied separately for each formula. (ii) Certain benefit accruals treated as multiple accruals treated as multiple accrual formulas \nFor purposes of this subparagraph, a plan has multiple accrual formulas if a participant’s accrued benefit is determined either as the greater of the benefit determined under two or more separate formulas or as the sum of the benefit determined under two or more separate formulas. (iii) Certain formulas treated as separate accrual formulas \nFor purposes of clause (i), the benefit formulas described in section 401(k)(12)(D) and section 401(m)(12) shall be treated as separate from the minimum benefit formula described in section 416(c)(1)..", "id": "H8CE96E0730584770BA6BD84EE5980065", "header": "Conforming amendments", "nested": [], "links": [] }, { "text": "(c) Effective date \n(1) In general \nExcept as provided in paragraph (2), the amendments made by this section shall apply to years beginning after December 31, 2005. (2) Cash balance formula \nSection 401(k)(12)(D)(iii) of the Internal Revenue Code of 1986, as added by subsection (a)(2), shall not apply to plan years beginning before the effective date of an Act which provides for the application of section 411(b)(1)(H) of such Code to cash balance plans.", "id": "HA2770D0525844C1EA447C9B7A90048CC", "header": "Effective date", "nested": [], "links": [ { "text": "Section 401(k)(12)(D)(iii)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] } ], "links": [ { "text": "section 401(k)", "legal-doc": "usc", "parsable-cite": "usc/26/401" }, { "text": "Section 401(k)(12)(D)(iii)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "503. Additional accruals under defined benefit plan provided as matching contributions \n(a) Certain arrangements under defined benefit plan satisfy definitely determinable benefit requirement \nParagraph (35) of section 401(a) of the Internal Revenue Code of 1986 (as added by section 2(b)) is amended by inserting or qualified matching accruals (as defined in subsection (m)(12)) before the period at the end. (b) Matching accruals \nSubsection (m) of section 401 of such Code is amended by redesignating paragraph (12) as paragraph (13) and by inserting after paragraph (11) the following new paragraph: (12) Special rules relating to qualified matching accruals under a defined benefit plan \nFor purposes of this section— (A) Qualified matching accrual \nThe term qualified matching accrual means an amount funded by an employer in the form of a benefit accrual under a defined benefit plan to match elective deferrals under a qualified cash or deferred arrangement which is part of such plan and which meets the formula requirements of subparagraph (B). The benefit accrual shall be determined under a nondiscretionary formula set forth in the defined benefit plan. For purposes of determining such benefit accrual, the amount of elective deferrals taken into account under such formula may be limited under the plan. (B) Formula requirements \nA benefit accrual meets the requirements of this subparagraph if such accrual is a hypothetical contribution that is added to a participant’s hypothetical account balance, the amount of which is determined, in accordance with the matching accrual formula set forth in the plan, with reference to the amount of the elective deferrals made by the participant for the plan year to a qualified cash or deferred arrangement which is part of the defined benefit plan. Matching accruals under the formula may vary with age or other employment-related factors. (C) Coordinate with employer contributions \nFor purposes of paragraph (4), the term employer contributions shall not include any amount contributed by an employer to a defined benefit plan for the purpose of funding any qualified matching accruals. (D) Safe harbor formula \nA qualified matching accrual formula shall be deemed to satisfy subsection (a)(4) if it satisfies the requirements of clauses (i) and (ii). (i) Elective deferrals at or above maximum matchable rate \nFor an employee who makes elective deferrals at or above the maximum matchable rate, the qualified matching benefit accrual for the plan year is a hypothetical allocation under a cash balance plan (as defined in section 401(k)(12)(D)(iii)(III)) that equals a percentage (not greater than 4 percent) of compensation (as defined in section 414(s)). (ii) Elective deferrals below maximum matchable rate \nFor employees who make elective deferrals at a rate that is below the maximum matchable rate, the qualified matching benefit accrual for such plan year shall be prorated. The plan may prorate the qualified benefit accrual on the basis of whole percentages, and the plan may require that an employee’s elective deferrals be stated as whole percentages. (iii) Maximum matchable rate \nFor purposes of this subparagraph, the maximum matchable rate must be a specified percentage of compensation which does not exceed 4 percent.. (c) Exception to benefit contingency rule \nSubparagraph (A) of section 401(k)(4) of such Code is amended by inserting or qualified matching accruals (as defined in subsection (m)(12) after section 401(m)). (d) Forfeitures by reason of excess deferral \nSubparagraph (G) of section 411(a)(3) of the Code is amended by adding at the end the following: A rule similar to the rule of the preceding sentence shall apply with respect to qualified matching accruals (as defined in section 401(m)(12)). (e) Accrued benefit requirement with respect to Matching accruals \nParagraph (1) of section 411(b) of such Code is amended by adding at the end the following new subparagraph: (J) In the case of qualified matching accruals (as defined in section 401(m)(12)), the requirements for accrued benefits set forth in subparagraphs (A) through (H) of this subsection shall be applied on the basis of the rate of matching accruals available to participants, without regard to the actual elective deferrals made by participants.. (f) Participation requirements with respect to qualified Matching accruals \nParagraph (26) of section 401(a) of such Code is amended by redesignating subparagraph (I) as subparagraph (J), and by inserting after subparagraph (H) the following new subparagraph: (I) Special testing rules for qualified Matching accruals \n(i) If a defined benefit plan includes qualified matching accruals (as defined in section 401(m)(12)), the rules in clauses (ii) and (iii) shall apply. (ii) Qualified Matching accruals only benefit formula \nIf the only benefit formula in the defined benefit plan is a qualified matching accrual formula, the requirements of this paragraph shall be applied by treating a participant’s annual benefit accrual as the maximum accrual that was available to the participant for the plan year, regardless of whether the maximum matchable elective deferrals were actually made by the participant. If the qualified matching accrual formula applies to elective deferrals in excess of 6 percent of compensation, then the requirements of this paragraph must be applied by taking into account the actual matching accruals earned by participants for the plan year. (iii) Multiple formulas \nIf the defined benefit plan includes one or more benefit formulas in addition to a qualified matching accrual formula, the employer may elect to apply clause (ii) to the qualified matching accrual formulas only if the requirements of this paragraph are satisfied separately with respect to the benefit accruals that are determined without regard to the qualified matching accrual formula.. (g) Regulations for meeting nondiscrimination requirements \n(1) In general \nThe Secretary of the Treasury shall prescribe regulations on ways in which qualified matching accruals (as defined by section 401(m)(12) of the the Internal Revenue Code of 1986, as added by this section) that do not satisfy the formula requirements of section 401(m)(12)(D) of such Code (as enacted by subsection (b) of this section) can satisfy the nondiscrimination requirements of section 401(a)(4) of such Code. The regulations may prescribe safe harbor formulas in addition to those prescribed by section 401(m)(12)(D). (2) Temporary and final form \nThe Secretary shall prescribe the regulations required by paragraph (1) in temporary form not later than 6 months after the effective date of this section and in final form not later than 18 months after the effective date of this section. (h) Plan years beginning before issuance of regulations \nFor plan years beginning prior to the date the regulations described in subsection (g) are issued in final form, a plan’s qualified matching accrual formula must satisfy a reasonable, good faith, interpretation of section 401(a)(4) of such Code. (i) Effective date \nThe amendments made by this section shall be effective for plan years beginning after the effective date of the Act described in section 3(c)(2).", "id": "HB736C0A6E53E48178D5FC195BDE06B2B", "header": "Additional accruals under defined benefit plan provided as matching contributions", "nested": [ { "text": "(a) Certain arrangements under defined benefit plan satisfy definitely determinable benefit requirement \nParagraph (35) of section 401(a) of the Internal Revenue Code of 1986 (as added by section 2(b)) is amended by inserting or qualified matching accruals (as defined in subsection (m)(12)) before the period at the end.", "id": "H8D1D9853960842A19FB3EFCB5F3336D2", "header": "Certain arrangements under defined benefit plan satisfy definitely determinable benefit requirement", "nested": [], "links": [ { "text": "section 401(a)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "(b) Matching accruals \nSubsection (m) of section 401 of such Code is amended by redesignating paragraph (12) as paragraph (13) and by inserting after paragraph (11) the following new paragraph: (12) Special rules relating to qualified matching accruals under a defined benefit plan \nFor purposes of this section— (A) Qualified matching accrual \nThe term qualified matching accrual means an amount funded by an employer in the form of a benefit accrual under a defined benefit plan to match elective deferrals under a qualified cash or deferred arrangement which is part of such plan and which meets the formula requirements of subparagraph (B). The benefit accrual shall be determined under a nondiscretionary formula set forth in the defined benefit plan. For purposes of determining such benefit accrual, the amount of elective deferrals taken into account under such formula may be limited under the plan. (B) Formula requirements \nA benefit accrual meets the requirements of this subparagraph if such accrual is a hypothetical contribution that is added to a participant’s hypothetical account balance, the amount of which is determined, in accordance with the matching accrual formula set forth in the plan, with reference to the amount of the elective deferrals made by the participant for the plan year to a qualified cash or deferred arrangement which is part of the defined benefit plan. Matching accruals under the formula may vary with age or other employment-related factors. (C) Coordinate with employer contributions \nFor purposes of paragraph (4), the term employer contributions shall not include any amount contributed by an employer to a defined benefit plan for the purpose of funding any qualified matching accruals. (D) Safe harbor formula \nA qualified matching accrual formula shall be deemed to satisfy subsection (a)(4) if it satisfies the requirements of clauses (i) and (ii). (i) Elective deferrals at or above maximum matchable rate \nFor an employee who makes elective deferrals at or above the maximum matchable rate, the qualified matching benefit accrual for the plan year is a hypothetical allocation under a cash balance plan (as defined in section 401(k)(12)(D)(iii)(III)) that equals a percentage (not greater than 4 percent) of compensation (as defined in section 414(s)). (ii) Elective deferrals below maximum matchable rate \nFor employees who make elective deferrals at a rate that is below the maximum matchable rate, the qualified matching benefit accrual for such plan year shall be prorated. The plan may prorate the qualified benefit accrual on the basis of whole percentages, and the plan may require that an employee’s elective deferrals be stated as whole percentages. (iii) Maximum matchable rate \nFor purposes of this subparagraph, the maximum matchable rate must be a specified percentage of compensation which does not exceed 4 percent..", "id": "H3185B89C04C14BB38F4CA83CDDBCC0E7", "header": "Matching accruals", "nested": [], "links": [] }, { "text": "(c) Exception to benefit contingency rule \nSubparagraph (A) of section 401(k)(4) of such Code is amended by inserting or qualified matching accruals (as defined in subsection (m)(12) after section 401(m)).", "id": "H6A2779F5936E40DAB5B36E2834AFF5CA", "header": "Exception to benefit contingency rule", "nested": [], "links": [] }, { "text": "(d) Forfeitures by reason of excess deferral \nSubparagraph (G) of section 411(a)(3) of the Code is amended by adding at the end the following: A rule similar to the rule of the preceding sentence shall apply with respect to qualified matching accruals (as defined in section 401(m)(12)).", "id": "H8BC58282392D43708829262900D109D3", "header": "Forfeitures by reason of excess deferral", "nested": [], "links": [] }, { "text": "(e) Accrued benefit requirement with respect to Matching accruals \nParagraph (1) of section 411(b) of such Code is amended by adding at the end the following new subparagraph: (J) In the case of qualified matching accruals (as defined in section 401(m)(12)), the requirements for accrued benefits set forth in subparagraphs (A) through (H) of this subsection shall be applied on the basis of the rate of matching accruals available to participants, without regard to the actual elective deferrals made by participants..", "id": "HFC824B3BDEB74C989FAAFDD0151D1900", "header": "Accrued benefit requirement with respect to Matching accruals", "nested": [], "links": [] }, { "text": "(f) Participation requirements with respect to qualified Matching accruals \nParagraph (26) of section 401(a) of such Code is amended by redesignating subparagraph (I) as subparagraph (J), and by inserting after subparagraph (H) the following new subparagraph: (I) Special testing rules for qualified Matching accruals \n(i) If a defined benefit plan includes qualified matching accruals (as defined in section 401(m)(12)), the rules in clauses (ii) and (iii) shall apply. (ii) Qualified Matching accruals only benefit formula \nIf the only benefit formula in the defined benefit plan is a qualified matching accrual formula, the requirements of this paragraph shall be applied by treating a participant’s annual benefit accrual as the maximum accrual that was available to the participant for the plan year, regardless of whether the maximum matchable elective deferrals were actually made by the participant. If the qualified matching accrual formula applies to elective deferrals in excess of 6 percent of compensation, then the requirements of this paragraph must be applied by taking into account the actual matching accruals earned by participants for the plan year. (iii) Multiple formulas \nIf the defined benefit plan includes one or more benefit formulas in addition to a qualified matching accrual formula, the employer may elect to apply clause (ii) to the qualified matching accrual formulas only if the requirements of this paragraph are satisfied separately with respect to the benefit accruals that are determined without regard to the qualified matching accrual formula..", "id": "HB480CE4FB9314AF7BBD3D1D42603CD6D", "header": "Participation requirements with respect to qualified Matching accruals", "nested": [], "links": [] }, { "text": "(g) Regulations for meeting nondiscrimination requirements \n(1) In general \nThe Secretary of the Treasury shall prescribe regulations on ways in which qualified matching accruals (as defined by section 401(m)(12) of the the Internal Revenue Code of 1986, as added by this section) that do not satisfy the formula requirements of section 401(m)(12)(D) of such Code (as enacted by subsection (b) of this section) can satisfy the nondiscrimination requirements of section 401(a)(4) of such Code. The regulations may prescribe safe harbor formulas in addition to those prescribed by section 401(m)(12)(D). (2) Temporary and final form \nThe Secretary shall prescribe the regulations required by paragraph (1) in temporary form not later than 6 months after the effective date of this section and in final form not later than 18 months after the effective date of this section.", "id": "H58616B2D8D224E02A1AF76A108FF7E6B", "header": "Regulations for meeting nondiscrimination requirements", "nested": [], "links": [] }, { "text": "(h) Plan years beginning before issuance of regulations \nFor plan years beginning prior to the date the regulations described in subsection (g) are issued in final form, a plan’s qualified matching accrual formula must satisfy a reasonable, good faith, interpretation of section 401(a)(4) of such Code.", "id": "H8787463C8FAB40109980B8FCC86CC8CB", "header": "Plan years beginning before issuance of regulations", "nested": [], "links": [] }, { "text": "(i) Effective date \nThe amendments made by this section shall be effective for plan years beginning after the effective date of the Act described in section 3(c)(2).", "id": "H9A573B833A6544BAAF0080E345921C32", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "section 401(a)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "504. Limitation on deductions where combination of defined contribution plan and defined benefit plan \n(a) Elective deferrals \nClause (ii) of section 404(a)(7)(C) of the Internal Revenue Code of 1986 (relating to elective deferrals) is amended to read as follows: (ii) Elective deferrals \nFor purposes of this paragraph, an employee shall not be treated as a beneficiary of a defined contribution plan for a taxable year if the only employer contributions made on behalf of such employee for the taxable year are elective deferrals (as defined in section 402(g)(3)).. (b) Limitation not applicable to defined benefit plans with cash or deferred arrangement \nSubparagraph (C) of section 404(a)(7) is amended by adding at the end the following: (iii) Defined benefit plan with cash or deferred arrangement \nFor purposes of this paragraph, an employee shall not be treated as a beneficiary of a defined contribution plan for a taxable year merely because the employee is a beneficiary of a cash or deferred arrangement which is part of a defined benefit plan for such year.. (c) Effective date \nThe amendments made by this section shall apply to years beginning after December 31, 2005.", "id": "H844C6CE705374B09B4FAC9531D28B772", "header": "Limitation on deductions where combination of defined contribution plan and defined benefit plan", "nested": [ { "text": "(a) Elective deferrals \nClause (ii) of section 404(a)(7)(C) of the Internal Revenue Code of 1986 (relating to elective deferrals) is amended to read as follows: (ii) Elective deferrals \nFor purposes of this paragraph, an employee shall not be treated as a beneficiary of a defined contribution plan for a taxable year if the only employer contributions made on behalf of such employee for the taxable year are elective deferrals (as defined in section 402(g)(3))..", "id": "HFB75A246754240DD85466FEDB6D5883E", "header": "Elective deferrals", "nested": [], "links": [ { "text": "section 404(a)(7)(C)", "legal-doc": "usc", "parsable-cite": "usc/26/404" } ] }, { "text": "(b) Limitation not applicable to defined benefit plans with cash or deferred arrangement \nSubparagraph (C) of section 404(a)(7) is amended by adding at the end the following: (iii) Defined benefit plan with cash or deferred arrangement \nFor purposes of this paragraph, an employee shall not be treated as a beneficiary of a defined contribution plan for a taxable year merely because the employee is a beneficiary of a cash or deferred arrangement which is part of a defined benefit plan for such year..", "id": "H85999F5538FA43BCA69234A38356E0F7", "header": "Limitation not applicable to defined benefit plans with cash or deferred arrangement", "nested": [], "links": [] }, { "text": "(c) Effective date \nThe amendments made by this section shall apply to years beginning after December 31, 2005.", "id": "H94ADA573966441259DC6D7A7D93FC6", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "section 404(a)(7)(C)", "legal-doc": "usc", "parsable-cite": "usc/26/404" } ] }, { "text": "505. Conforming amendments to the Employee Retirement Income Security Act of 1974 \n(a) Definition \nSection 3 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1002 ) is amended by adding at the end the following new paragraph: (42) The term qualified cash or deferred arrangement has the meaning provided such term in section 401(k)(2) of the Internal Revenue Code of 1986.. (b) General rules regarding treatment of pension plans including qualified cash or deferred arrangements \nSection 3(35) of such Act ( 29 U.S.C. 1002(35) ) is amended— (1) by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively; (2) by inserting (A) after (35) ; and (3) by adding at the end the following new subparagraph: (B) (i) Except as provided in this title— (I) a pension plan which provides benefits other than benefits described in paragraph (34) shall not be treated as an individual account plan or a defined contribution plan on the basis of the inclusion in the plan of a qualified cash or deferred arrangement, and (II) any such pension plan which includes such an arrangement shall be treated as a single plan. (ii) Any pension plan which provides benefits other than benefits described in paragraph (34) and which includes a qualified cash or deferred arrangement— (I) for purposes of section 202, shall be treated as an individual account plan or a defined contribution plan; (II) for purposes of section 203, shall be treated as an individual account plan or defined contribution plan to the extent benefits are attributable to such arrangement and as a defined benefit plan with respect to the remaining portion of benefits under the plan, and (III) for purposes of sections 406, 407, and 408, shall, in any case in which the arrangement (if treated as a separate plan) would be an eligible individual account plan (as defined in section 407(d)(3)), be treated as an individual account plan or defined contribution plan with respect to assets attributable to such arrangement and as a defined benefit plan with respect to the remaining assets of the plan, and shall, in any other case, be treated as a single defined benefit plan.. (c) Valuation of benefits attributable to separate accounts \n(1) Restrictions on immediate distribution \nSection 203(e) of such Act ( 29 U.S.C. 1053(e) ) is amended by adding at the end the following new paragraph: (5) In the case of a defined benefit plan which provides a benefit derived from employer contributions (including elective deferrals (as defined in section 402(g)(3) of the Internal Revenue Code of 1986)) under a qualified cash or deferred arrangement which is maintained under such plan, for purposes of this subsection, the present value of the portion of the benefit attributable to such arrangement shall be deemed to be an amount equal to the fair market value of such arrangement.. (2) Survivor benefits \nSection 205 of such Act ( 29 U.S.C. 1055 ) is amended— (A) by redesignating subsection (l) as subsection (m); and (B) by inserting after subsection (k) the following new subsection: (l) In the case of a defined benefit plan which provides a benefit derived from employer contributions (including elective deferrals (as defined in section 402(g)(3) of the Internal Revenue Code of 1986)) under a qualified cash or deferred arrangement which is maintained under such plan, for purposes of this section, the present value of the portion of the benefit attributable to such arrangement shall be deemed to be an amount equal to the fair market value of such arrangement.. (d) Allowable reductions in rate of benefit accrual \nSection 204(h) of such Act ( 29 U.S.C. 1054(h) ) is amended by adding at the end the following new paragraph: (10) A plan shall not be treated as failing to meet the requirements of this subsection merely because of a reduction in, or elimination of, any contributions to a qualified cash or deferred arrangement which is part of such plan.. (e) Application of minimum funding standard \n(1) Exception from standard \nSection 301(a) of such Act ( 29 U.S.C. 1081(a) ) is amended by adding at the end the following new paragraph: (11) any qualified cash or deferred arrangement which is part of a defined benefit plan.. (2) Continued application of standard to other portion of defined benefit plan \nSection 302(c) of such Act ( 29 U.S.C. 1082(c) ) is amended by adding at the end the following new paragraph: (13) Continued application of standard to other portion of defined benefit plan \nThis section shall be applied to a defined benefit plan by disregarding the value of the trust attributable to any qualified cash or deferred arrangement.. (f) Vesting requirements \nSection 203(a)(3) of such Act ( 29 U.S.C. 1053(a)(3)(F) ) is amended by adding at the end the following new subparagraph: (G) Faster vesting for accruals under defined benefit plans with cash or deferred arrangements \nIn the case of a defined benefit plan which includes a qualified cash or deferred arrangement, the rules described in subparagraph (F) shall be applied to benefit accruals under such plan and to matching contributions and nonelective contributions made under such arrangement. (g) Application of accrual rules with regard to qualified matching accruals \nSection 204(b)(1) of such Act ( 29 U.S.C. 1054(b)(1) ) is amended by adding at the end the following new subparagraph: (I) In the case of qualified matching accruals (as defined in section 401(m)(12) of the Internal Revenue Code of 1986), the requirements for accrued benefits set forth in subparagraphs (A) through (H) of this paragraph shall be applied on the basis of the rate of such qualified matching accruals available to participants, without regard to the actual elective deferrals made by participants.. (h) Multiple accrual formulas \nSection 204(b)(1) of such Act (as amended by subsection (g)) is further amended by adding at the end the following new subparagraph: (J) (i) If a defined benefit plan contains multiple accrual formulas, the requirements of this paragraph may be satisfied separately for each formula. (ii) For purposes of this subparagraph, a plan has multiple accrual formulas if a participant’s accrued benefit is determined either as the greater of the benefit determined under two or more separate formulas or as the sum of the benefit determined under two or more separate formulas. (iii) For purposes of clause (i), the benefit formulas described in section 401(k)(12)(D) and section 401(m)(12) of the Internal Revenue Code of 1986 shall be treated as separate from the minimum benefit formula described in section 416(c)(1) of such Code.. (i) Forfeitures by reason of excess deferral \nSubparagraph (F) of section 203(a)(3) of such Act ( 29 U.S.C. 1053(a)(3)(F) ) is amended by adding at the end the following: A rule similar to the rule of the preceding sentence shall apply with respect to qualified matching accruals (as defined in section 401(m)(12) of the Internal Revenue Code of 1986). (j) Effective date \nThe amendments made by this section shall apply to plan years beginning after December 31, 2005.", "id": "H4327C779C45C4D65BEC7D9912E600F8", "header": "Conforming amendments to the Employee Retirement Income Security Act of 1974", "nested": [ { "text": "(a) Definition \nSection 3 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1002 ) is amended by adding at the end the following new paragraph: (42) The term qualified cash or deferred arrangement has the meaning provided such term in section 401(k)(2) of the Internal Revenue Code of 1986..", "id": "HEF55460B666F4D5B0044C79045963DBC", "header": "Definition", "nested": [], "links": [ { "text": "29 U.S.C. 1002", "legal-doc": "usc", "parsable-cite": "usc/29/1002" }, { "text": "section 401(k)(2)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "(b) General rules regarding treatment of pension plans including qualified cash or deferred arrangements \nSection 3(35) of such Act ( 29 U.S.C. 1002(35) ) is amended— (1) by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively; (2) by inserting (A) after (35) ; and (3) by adding at the end the following new subparagraph: (B) (i) Except as provided in this title— (I) a pension plan which provides benefits other than benefits described in paragraph (34) shall not be treated as an individual account plan or a defined contribution plan on the basis of the inclusion in the plan of a qualified cash or deferred arrangement, and (II) any such pension plan which includes such an arrangement shall be treated as a single plan. (ii) Any pension plan which provides benefits other than benefits described in paragraph (34) and which includes a qualified cash or deferred arrangement— (I) for purposes of section 202, shall be treated as an individual account plan or a defined contribution plan; (II) for purposes of section 203, shall be treated as an individual account plan or defined contribution plan to the extent benefits are attributable to such arrangement and as a defined benefit plan with respect to the remaining portion of benefits under the plan, and (III) for purposes of sections 406, 407, and 408, shall, in any case in which the arrangement (if treated as a separate plan) would be an eligible individual account plan (as defined in section 407(d)(3)), be treated as an individual account plan or defined contribution plan with respect to assets attributable to such arrangement and as a defined benefit plan with respect to the remaining assets of the plan, and shall, in any other case, be treated as a single defined benefit plan..", "id": "H5AB498A2B67441BBAAEAAEF2EA940004", "header": "General rules regarding treatment of pension plans including qualified cash or deferred arrangements", "nested": [], "links": [ { "text": "29 U.S.C. 1002(35)", "legal-doc": "usc", "parsable-cite": "usc/29/1002" } ] }, { "text": "(c) Valuation of benefits attributable to separate accounts \n(1) Restrictions on immediate distribution \nSection 203(e) of such Act ( 29 U.S.C. 1053(e) ) is amended by adding at the end the following new paragraph: (5) In the case of a defined benefit plan which provides a benefit derived from employer contributions (including elective deferrals (as defined in section 402(g)(3) of the Internal Revenue Code of 1986)) under a qualified cash or deferred arrangement which is maintained under such plan, for purposes of this subsection, the present value of the portion of the benefit attributable to such arrangement shall be deemed to be an amount equal to the fair market value of such arrangement.. (2) Survivor benefits \nSection 205 of such Act ( 29 U.S.C. 1055 ) is amended— (A) by redesignating subsection (l) as subsection (m); and (B) by inserting after subsection (k) the following new subsection: (l) In the case of a defined benefit plan which provides a benefit derived from employer contributions (including elective deferrals (as defined in section 402(g)(3) of the Internal Revenue Code of 1986)) under a qualified cash or deferred arrangement which is maintained under such plan, for purposes of this section, the present value of the portion of the benefit attributable to such arrangement shall be deemed to be an amount equal to the fair market value of such arrangement..", "id": "H46FFCE4210054616A9613353C139A0AB", "header": "Valuation of benefits attributable to separate accounts", "nested": [], "links": [ { "text": "29 U.S.C. 1053(e)", "legal-doc": "usc", "parsable-cite": "usc/29/1053" }, { "text": "section 402(g)(3)", "legal-doc": "usc", "parsable-cite": "usc/26/402" }, { "text": "29 U.S.C. 1055", "legal-doc": "usc", "parsable-cite": "usc/29/1055" }, { "text": "section 402(g)(3)", "legal-doc": "usc", "parsable-cite": "usc/26/402" } ] }, { "text": "(d) Allowable reductions in rate of benefit accrual \nSection 204(h) of such Act ( 29 U.S.C. 1054(h) ) is amended by adding at the end the following new paragraph: (10) A plan shall not be treated as failing to meet the requirements of this subsection merely because of a reduction in, or elimination of, any contributions to a qualified cash or deferred arrangement which is part of such plan..", "id": "HC647EA19DAD945048F9B2B47E1B9C574", "header": "Allowable reductions in rate of benefit accrual", "nested": [], "links": [ { "text": "29 U.S.C. 1054(h)", "legal-doc": "usc", "parsable-cite": "usc/29/1054" } ] }, { "text": "(e) Application of minimum funding standard \n(1) Exception from standard \nSection 301(a) of such Act ( 29 U.S.C. 1081(a) ) is amended by adding at the end the following new paragraph: (11) any qualified cash or deferred arrangement which is part of a defined benefit plan.. (2) Continued application of standard to other portion of defined benefit plan \nSection 302(c) of such Act ( 29 U.S.C. 1082(c) ) is amended by adding at the end the following new paragraph: (13) Continued application of standard to other portion of defined benefit plan \nThis section shall be applied to a defined benefit plan by disregarding the value of the trust attributable to any qualified cash or deferred arrangement..", "id": "HC3CB6DDE998E40938BCDE8273B0849CD", "header": "Application of minimum funding standard", "nested": [], "links": [ { "text": "29 U.S.C. 1081(a)", "legal-doc": "usc", "parsable-cite": "usc/29/1081" }, { "text": "29 U.S.C. 1082(c)", "legal-doc": "usc", "parsable-cite": "usc/29/1082" } ] }, { "text": "(f) Vesting requirements \nSection 203(a)(3) of such Act ( 29 U.S.C. 1053(a)(3)(F) ) is amended by adding at the end the following new subparagraph: (G) Faster vesting for accruals under defined benefit plans with cash or deferred arrangements \nIn the case of a defined benefit plan which includes a qualified cash or deferred arrangement, the rules described in subparagraph (F) shall be applied to benefit accruals under such plan and to matching contributions and nonelective contributions made under such arrangement.", "id": "H8D5F74A0E6A8408D97DCCD2DCAE51000", "header": "Vesting requirements", "nested": [], "links": [ { "text": "29 U.S.C. 1053(a)(3)(F)", "legal-doc": "usc", "parsable-cite": "usc/29/1053" } ] }, { "text": "(g) Application of accrual rules with regard to qualified matching accruals \nSection 204(b)(1) of such Act ( 29 U.S.C. 1054(b)(1) ) is amended by adding at the end the following new subparagraph: (I) In the case of qualified matching accruals (as defined in section 401(m)(12) of the Internal Revenue Code of 1986), the requirements for accrued benefits set forth in subparagraphs (A) through (H) of this paragraph shall be applied on the basis of the rate of such qualified matching accruals available to participants, without regard to the actual elective deferrals made by participants..", "id": "H3F904A8189054183BDD776302C641C1D", "header": "Application of accrual rules with regard to qualified matching accruals", "nested": [], "links": [ { "text": "29 U.S.C. 1054(b)(1)", "legal-doc": "usc", "parsable-cite": "usc/29/1054" }, { "text": "section 401(m)(12)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "(h) Multiple accrual formulas \nSection 204(b)(1) of such Act (as amended by subsection (g)) is further amended by adding at the end the following new subparagraph: (J) (i) If a defined benefit plan contains multiple accrual formulas, the requirements of this paragraph may be satisfied separately for each formula. (ii) For purposes of this subparagraph, a plan has multiple accrual formulas if a participant’s accrued benefit is determined either as the greater of the benefit determined under two or more separate formulas or as the sum of the benefit determined under two or more separate formulas. (iii) For purposes of clause (i), the benefit formulas described in section 401(k)(12)(D) and section 401(m)(12) of the Internal Revenue Code of 1986 shall be treated as separate from the minimum benefit formula described in section 416(c)(1) of such Code..", "id": "H0EF28EB91DAA418B87D4CF1ED33F906", "header": "Multiple accrual formulas", "nested": [], "links": [ { "text": "section 401(m)(12)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "(i) Forfeitures by reason of excess deferral \nSubparagraph (F) of section 203(a)(3) of such Act ( 29 U.S.C. 1053(a)(3)(F) ) is amended by adding at the end the following: A rule similar to the rule of the preceding sentence shall apply with respect to qualified matching accruals (as defined in section 401(m)(12) of the Internal Revenue Code of 1986).", "id": "H2715256B187E4D4AB279DD7EF21DAF6E", "header": "Forfeitures by reason of excess deferral", "nested": [], "links": [ { "text": "29 U.S.C. 1053(a)(3)(F)", "legal-doc": "usc", "parsable-cite": "usc/29/1053" }, { "text": "section 401(m)(12)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "(j) Effective date \nThe amendments made by this section shall apply to plan years beginning after December 31, 2005.", "id": "H316FF3F7676D417CB842CA2091E9A46C", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "29 U.S.C. 1002", "legal-doc": "usc", "parsable-cite": "usc/29/1002" }, { "text": "section 401(k)(2)", "legal-doc": "usc", "parsable-cite": "usc/26/401" }, { "text": "29 U.S.C. 1002(35)", "legal-doc": "usc", "parsable-cite": "usc/29/1002" }, { "text": "29 U.S.C. 1053(e)", "legal-doc": "usc", "parsable-cite": "usc/29/1053" }, { "text": "section 402(g)(3)", "legal-doc": "usc", "parsable-cite": "usc/26/402" }, { "text": "29 U.S.C. 1055", "legal-doc": "usc", "parsable-cite": "usc/29/1055" }, { "text": "section 402(g)(3)", "legal-doc": "usc", "parsable-cite": "usc/26/402" }, { "text": "29 U.S.C. 1054(h)", "legal-doc": "usc", "parsable-cite": "usc/29/1054" }, { "text": "29 U.S.C. 1081(a)", "legal-doc": "usc", "parsable-cite": "usc/29/1081" }, { "text": "29 U.S.C. 1082(c)", "legal-doc": "usc", "parsable-cite": "usc/29/1082" }, { "text": "29 U.S.C. 1053(a)(3)(F)", "legal-doc": "usc", "parsable-cite": "usc/29/1053" }, { "text": "29 U.S.C. 1054(b)(1)", "legal-doc": "usc", "parsable-cite": "usc/29/1054" }, { "text": "section 401(m)(12)", "legal-doc": "usc", "parsable-cite": "usc/26/401" }, { "text": "section 401(m)(12)", "legal-doc": "usc", "parsable-cite": "usc/26/401" }, { "text": "29 U.S.C. 1053(a)(3)(F)", "legal-doc": "usc", "parsable-cite": "usc/29/1053" }, { "text": "section 401(m)(12)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "601. Exemption from prohibited transaction rules for certain aborted emergent transactions \n(a) In general \nSection 4975(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (7) Special rule for certain aborted emergent transactions \n(A) In general \nPursuant to regulations issued by the Secretary, if— (i) in the case of a qualifying transaction between an employee benefit plan and an eligible person which would, but for this paragraph, be in violation of a restriction imposed by paragraph (1), the eligible person submits to the Secretary, not later than 60 days after the date of the transaction, an application for an exemption under paragraph (2) from such restriction in the case of such transaction, (ii) the Secretary determines not to grant the exemption, and (iii) the transaction is reversed within 60 days after the date of the Secretary’s determination, then the transaction shall be exempted under paragraph (2) from treatment as a violation of such restriction. (B) Qualifying transaction \nThe term qualifying transaction means, in connection with an eligible person, a transaction between an employee benefit plan and such eligible person constituting the purchase or sale of a financial product, if— (i) prior to engaging in the transaction, the plan acquires from the eligible person a sufficient guarantee, consisting of a letter of credit or other form of written guarantee, issued by a bank or similar financial institution (other than the eligible person requesting the exemption or an affiliate) regulated and supervised by, and subject to periodic examination by, an agency of a State or of the Federal Government, in a stated amount equal, as of the close of business on the day preceding the transaction, to not less than 100 percent of the amount of plan assets involved in the transaction, plus interest on that amount at a rate determined by the parties to the transaction, or in the absence of such determination, an interest rate equal to the underpayment rate defined in section 6621(a)(2), (ii) the eligible person receives in such transaction not more than reasonable compensation, (iii) such transaction is expressly approved by an independent fiduciary who has investment authority with respect to the plan assets involved in the transaction, and (iv) immediately after the acquisition of the financial product— (I) the fair market value of such financial product does not exceed 1 percent of the fair market value of the assets of the plan, and (II) the aggregate fair market value of all outstanding financial products acquired by the plan from the eligible person pursuant to this subsection does not exceed 5 percent of the fair market value of the assets of the plan. (C) Sufficient guarantee \nA guarantee referred to in subparagraph (B) is sufficient if such guarantee is irrevocable and, under the terms of the guarantee, if the Secretary determines not to grant the exemption, the plan has the unconditional right to apply the amounts under the guarantee to any losses suffered and to the payment of interest determined under the terms of the transaction. A guarantee shall not be treated as failing to be sufficient solely because, under the terms of the guarantee, if the Secretary grants the exemption, the guarantee may expire without any payments made to the plan. (D) Eligible person \nThe term eligible person means a person that— (i) consists of— (I) a bank as defined in section 202(a)(2) of the Investment Advisers Act of 1940 , (II) an investment adviser registered under the Investment Advisers Act of 1940 , (III) an insurance company which is qualified to do business in more than one State, or (IV) a broker-dealer registered under the Securities Exchange Act of 1934 , (ii) has shareholders’ or partners’ equity in excess of $1,000,000, and (iii) is not described in section 411 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1111 ).. (b) Effective date \nThe amendment made by this section shall apply with respect to transactions occurring after December 31, 2005.", "id": "HF0AEF215E3824D6C8430BDB5387CBAF1", "header": "Exemption from prohibited transaction rules for certain aborted emergent transactions", "nested": [ { "text": "(a) In general \nSection 4975(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (7) Special rule for certain aborted emergent transactions \n(A) In general \nPursuant to regulations issued by the Secretary, if— (i) in the case of a qualifying transaction between an employee benefit plan and an eligible person which would, but for this paragraph, be in violation of a restriction imposed by paragraph (1), the eligible person submits to the Secretary, not later than 60 days after the date of the transaction, an application for an exemption under paragraph (2) from such restriction in the case of such transaction, (ii) the Secretary determines not to grant the exemption, and (iii) the transaction is reversed within 60 days after the date of the Secretary’s determination, then the transaction shall be exempted under paragraph (2) from treatment as a violation of such restriction. (B) Qualifying transaction \nThe term qualifying transaction means, in connection with an eligible person, a transaction between an employee benefit plan and such eligible person constituting the purchase or sale of a financial product, if— (i) prior to engaging in the transaction, the plan acquires from the eligible person a sufficient guarantee, consisting of a letter of credit or other form of written guarantee, issued by a bank or similar financial institution (other than the eligible person requesting the exemption or an affiliate) regulated and supervised by, and subject to periodic examination by, an agency of a State or of the Federal Government, in a stated amount equal, as of the close of business on the day preceding the transaction, to not less than 100 percent of the amount of plan assets involved in the transaction, plus interest on that amount at a rate determined by the parties to the transaction, or in the absence of such determination, an interest rate equal to the underpayment rate defined in section 6621(a)(2), (ii) the eligible person receives in such transaction not more than reasonable compensation, (iii) such transaction is expressly approved by an independent fiduciary who has investment authority with respect to the plan assets involved in the transaction, and (iv) immediately after the acquisition of the financial product— (I) the fair market value of such financial product does not exceed 1 percent of the fair market value of the assets of the plan, and (II) the aggregate fair market value of all outstanding financial products acquired by the plan from the eligible person pursuant to this subsection does not exceed 5 percent of the fair market value of the assets of the plan. (C) Sufficient guarantee \nA guarantee referred to in subparagraph (B) is sufficient if such guarantee is irrevocable and, under the terms of the guarantee, if the Secretary determines not to grant the exemption, the plan has the unconditional right to apply the amounts under the guarantee to any losses suffered and to the payment of interest determined under the terms of the transaction. A guarantee shall not be treated as failing to be sufficient solely because, under the terms of the guarantee, if the Secretary grants the exemption, the guarantee may expire without any payments made to the plan. (D) Eligible person \nThe term eligible person means a person that— (i) consists of— (I) a bank as defined in section 202(a)(2) of the Investment Advisers Act of 1940 , (II) an investment adviser registered under the Investment Advisers Act of 1940 , (III) an insurance company which is qualified to do business in more than one State, or (IV) a broker-dealer registered under the Securities Exchange Act of 1934 , (ii) has shareholders’ or partners’ equity in excess of $1,000,000, and (iii) is not described in section 411 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1111 )..", "id": "H16A9C56CF79A40098F5BEFF52F3BA68", "header": "In general", "nested": [], "links": [ { "text": "Section 4975(c)", "legal-doc": "usc", "parsable-cite": "usc/26/4975" }, { "text": "29 U.S.C. 1111", "legal-doc": "usc", "parsable-cite": "usc/29/1111" } ] }, { "text": "(b) Effective date \nThe amendment made by this section shall apply with respect to transactions occurring after December 31, 2005.", "id": "H016324DA3E76420E93F20077BBEC3C8E", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "Section 4975(c)", "legal-doc": "usc", "parsable-cite": "usc/26/4975" }, { "text": "29 U.S.C. 1111", "legal-doc": "usc", "parsable-cite": "usc/29/1111" } ] }, { "text": "602. Loans from retirement plans for health insurance and job training expenses \n(a) Qualification requirement for pension plans \nParagraph (13) of section 401(a) of the Internal Revenue Code of 1986 (relating to assignment and alienation) is amended by adding at the end the following new subparagraph: (E) Loans from retirement plans for health insurance and job training expenses \nNotwithstanding subparagraph (A), a trust shall not constitute a qualified trust under this section unless the plan of which such trust is a part provides that a participant or beneficiary who is involuntarily separated from employment may, on the date of such separation, obtain a loan from the plan the proceeds of which are to be used within 6 months after the date of such loan— (i) for payments for insurance which constitutes medical care for the taxpayer and the taxpayer’s spouse and dependents, or (ii) for job training expenses.. (b) Prohibited transaction exemption \nSection 4975(d) of such Code (relating to exemptions from tax on prohibited transactions) is amended by striking or at the end of paragraph (14), by striking the period at the end of paragraph (15) and inserting ; or , and by inserting after paragraph (15) the following new paragraph: (16) any loan— (A) from an individual retirement plan for the payment of health insurance premiums or job training expenses that is a qualified loan (as defined in section 408 of the Employee Retirement Income Security Act of 1974 ), or (B) made by the plan to a disqualified person who is a participant or beneficiary of the plan if such loan— (i) is for the payment of health insurance premiums or job training expenses, and (ii) meets the requirements of section 401(a)(13)(E).. (c) Effective date \nThe amendments made by this section shall apply to loans made after the effective date specified in section 501.", "id": "H64CBFCD041CC4379B60267458000C85F", "header": "Loans from retirement plans for health insurance and job training expenses", "nested": [ { "text": "(a) Qualification requirement for pension plans \nParagraph (13) of section 401(a) of the Internal Revenue Code of 1986 (relating to assignment and alienation) is amended by adding at the end the following new subparagraph: (E) Loans from retirement plans for health insurance and job training expenses \nNotwithstanding subparagraph (A), a trust shall not constitute a qualified trust under this section unless the plan of which such trust is a part provides that a participant or beneficiary who is involuntarily separated from employment may, on the date of such separation, obtain a loan from the plan the proceeds of which are to be used within 6 months after the date of such loan— (i) for payments for insurance which constitutes medical care for the taxpayer and the taxpayer’s spouse and dependents, or (ii) for job training expenses..", "id": "H1C941394995248539BF39C65685B51D3", "header": "Qualification requirement for pension plans", "nested": [], "links": [ { "text": "section 401(a)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "(b) Prohibited transaction exemption \nSection 4975(d) of such Code (relating to exemptions from tax on prohibited transactions) is amended by striking or at the end of paragraph (14), by striking the period at the end of paragraph (15) and inserting ; or , and by inserting after paragraph (15) the following new paragraph: (16) any loan— (A) from an individual retirement plan for the payment of health insurance premiums or job training expenses that is a qualified loan (as defined in section 408 of the Employee Retirement Income Security Act of 1974 ), or (B) made by the plan to a disqualified person who is a participant or beneficiary of the plan if such loan— (i) is for the payment of health insurance premiums or job training expenses, and (ii) meets the requirements of section 401(a)(13)(E)..", "id": "H091FA2FE6F9A4705AE25369FE546245D", "header": "Prohibited transaction exemption", "nested": [], "links": [] }, { "text": "(c) Effective date \nThe amendments made by this section shall apply to loans made after the effective date specified in section 501.", "id": "H14A9BC827F5C4468A2BCD3BCFED36BEF", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "section 401(a)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "603. Treatment of unclaimed benefits \n(a) In general \nSection 401(a)(34) of the Internal Revenue Code of 1986 (relating to benefits of missing participants) is amended to read as follows: (34) Unclaimed benefits \nA trust forming part of a plan shall not be treated as failing to constitute a qualified trust under this section merely because the plan of which such trust is a part treats unclaimed benefits in a manner that satisfies the requirements of section 414(w).. (b) Requirements \nSection 414 of such Code (relating to definitions and special rules) is amended by adding at the end the following new subsection: (w) Unclaimed benefits \n(1) In general \nA plan meets the requirements of this subsection only if— (A) Ongoing plans \nIn the case of an ongoing plan, the plan provides for one or more of the following with respect to unclaimed benefits: (i) In the case of an unclaimed benefit to which section 401(a)(31)(B) applies, a transfer under section 401(a)(31)(B). (ii) A transfer to the Pension Benefit Guaranty Corporation, in accordance with section 4050(e) of the Employee Retirement Income Security Act of 1974. (iii) Any other treatment permitted under rules prescribed by the Secretary. (B) Terminated plans \nIn the case of a terminated plan, the plan provides for the following with respect to unclaimed benefits: (i) Defined benefit plans \nIn the case of a defined benefit plan, one or more of the following: (I) In the case of an unclaimed benefit to which section 401(a)(31)(B) applies, a transfer under section 401(a)(31)(B). (II) A transfer of the unclaimed benefit to another defined benefit plan maintained by the employer. (III) The purchase of an annuity contract to provide for an individual’s unclaimed benefit. (IV) A transfer to the Pension Benefit Guaranty Corporation in accordance with section 4050(a) or 4050(e) (as applicable) of the Employee Retirement Income Security Act of 1974. (V) Any other treatment permitted under rules prescribed by the Secretary. (ii) Defined contribution plans \nIn the case of a defined contribution plan, one or more of the following: (I) In the case of an unclaimed benefit to which section 401(a)(31)(B) applies, a transfer under section 401(a)(31)(B). (II) A transfer of the unclaimed benefit to another defined contribution plan maintained by the employer. (III) The purchase of an annuity contract to provide for an individual’s unclaimed benefit. (IV) A transfer to the Pension Benefit Guaranty Corporation in accordance with section 4050(d) or 4050(e) (as applicable) of the Employee Retirement Income Security Act of 1974. (V) Any other treatment permitted under rules prescribed by the Secretary. (2) Treatment of transfers to Pension Benefit Guaranty Corporation \n(A) Transfers to PBGC \nAmounts transferred from a plan to the Pension Benefit Guaranty Corporation pursuant to paragraph (1) shall be treated as a transfer under section 401(a)(31)(A). (B) Distributions from pbgc \nExcept as provided in rules prescribed by the Secretary, amounts distributed by the Pension Benefit Guaranty Corporation shall be treated as distributed by an individual retirement plan under section 408(d) (without regard to paragraphs (4), (5) and (7) thereof). Rules similar to the rules of section 402(c)(4) shall apply. (3) Definitions \nFor purposes of this subsection— (A) Unclaimed benefit \nThe term unclaimed benefit means— (i) any benefit of a participant or beneficiary which is distributable under the terms of the plan to the participant or beneficiary, if the distribution of the benefit has not commenced within 1 year after the later of the date on which the benefit first became so distributable or the participant’s severance from employment; (ii) any benefit or other amount of a participant or beneficiary which is distributable under the terms of the plan with respect to a missing participant, or (iii) any benefit to which section 401(a)(31)(B) applies or would apply if subclause (I) of section 401(a)(31)(B)(i) did not require the distribution to exceed $1,000. A benefit otherwise described in clause (i) shall not be treated as an unclaimed benefit under clause (i) if the participant or beneficiary elects not to have such treatment apply. Any such participant or beneficiary shall be given reasonable notice of the opportunity to make such an election. If the participant or beneficiary fails to make such an election within a reasonable period specified in the notice, any subsequent election shall not be given effect and the benefit shall be treated as an unclaimed benefit. A notice mailed to the last known address of the participant or beneficiary shall be treated as a notice to the participant or beneficiary for purposes of this paragraph. (B) Ongoing plan \nThe term ongoing plan means any plan which has neither terminated nor is in the process of terminating. (C) Terminated plan \nThe term terminated plan means any plan which has terminated or is in the process of terminating. (D) Missing participant \nThe term missing participant shall have the meaning given to such term by section 4050(b)(1) of the Employee Retirement Income Security Act of 1974.. (c) Conforming amendment \nSubparagraph (B) of section 401(a)(31) of such Code is amended by adding at the end the following: (iii) Other permitted transfers \nA plan administrator shall be treated as having complied with the requirements of this subparagraph if such plan administrator complies with the requirements of section 414(w)..", "id": "HBD1B04B8E8CF43C4B791AA07003442DF", "header": "Treatment of unclaimed benefits", "nested": [ { "text": "(a) In general \nSection 401(a)(34) of the Internal Revenue Code of 1986 (relating to benefits of missing participants) is amended to read as follows: (34) Unclaimed benefits \nA trust forming part of a plan shall not be treated as failing to constitute a qualified trust under this section merely because the plan of which such trust is a part treats unclaimed benefits in a manner that satisfies the requirements of section 414(w)..", "id": "HB928EC5ABF054B9CA9572D12C192AAAB", "header": "In general", "nested": [], "links": [ { "text": "Section 401(a)(34)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "(b) Requirements \nSection 414 of such Code (relating to definitions and special rules) is amended by adding at the end the following new subsection: (w) Unclaimed benefits \n(1) In general \nA plan meets the requirements of this subsection only if— (A) Ongoing plans \nIn the case of an ongoing plan, the plan provides for one or more of the following with respect to unclaimed benefits: (i) In the case of an unclaimed benefit to which section 401(a)(31)(B) applies, a transfer under section 401(a)(31)(B). (ii) A transfer to the Pension Benefit Guaranty Corporation, in accordance with section 4050(e) of the Employee Retirement Income Security Act of 1974. (iii) Any other treatment permitted under rules prescribed by the Secretary. (B) Terminated plans \nIn the case of a terminated plan, the plan provides for the following with respect to unclaimed benefits: (i) Defined benefit plans \nIn the case of a defined benefit plan, one or more of the following: (I) In the case of an unclaimed benefit to which section 401(a)(31)(B) applies, a transfer under section 401(a)(31)(B). (II) A transfer of the unclaimed benefit to another defined benefit plan maintained by the employer. (III) The purchase of an annuity contract to provide for an individual’s unclaimed benefit. (IV) A transfer to the Pension Benefit Guaranty Corporation in accordance with section 4050(a) or 4050(e) (as applicable) of the Employee Retirement Income Security Act of 1974. (V) Any other treatment permitted under rules prescribed by the Secretary. (ii) Defined contribution plans \nIn the case of a defined contribution plan, one or more of the following: (I) In the case of an unclaimed benefit to which section 401(a)(31)(B) applies, a transfer under section 401(a)(31)(B). (II) A transfer of the unclaimed benefit to another defined contribution plan maintained by the employer. (III) The purchase of an annuity contract to provide for an individual’s unclaimed benefit. (IV) A transfer to the Pension Benefit Guaranty Corporation in accordance with section 4050(d) or 4050(e) (as applicable) of the Employee Retirement Income Security Act of 1974. (V) Any other treatment permitted under rules prescribed by the Secretary. (2) Treatment of transfers to Pension Benefit Guaranty Corporation \n(A) Transfers to PBGC \nAmounts transferred from a plan to the Pension Benefit Guaranty Corporation pursuant to paragraph (1) shall be treated as a transfer under section 401(a)(31)(A). (B) Distributions from pbgc \nExcept as provided in rules prescribed by the Secretary, amounts distributed by the Pension Benefit Guaranty Corporation shall be treated as distributed by an individual retirement plan under section 408(d) (without regard to paragraphs (4), (5) and (7) thereof). Rules similar to the rules of section 402(c)(4) shall apply. (3) Definitions \nFor purposes of this subsection— (A) Unclaimed benefit \nThe term unclaimed benefit means— (i) any benefit of a participant or beneficiary which is distributable under the terms of the plan to the participant or beneficiary, if the distribution of the benefit has not commenced within 1 year after the later of the date on which the benefit first became so distributable or the participant’s severance from employment; (ii) any benefit or other amount of a participant or beneficiary which is distributable under the terms of the plan with respect to a missing participant, or (iii) any benefit to which section 401(a)(31)(B) applies or would apply if subclause (I) of section 401(a)(31)(B)(i) did not require the distribution to exceed $1,000. A benefit otherwise described in clause (i) shall not be treated as an unclaimed benefit under clause (i) if the participant or beneficiary elects not to have such treatment apply. Any such participant or beneficiary shall be given reasonable notice of the opportunity to make such an election. If the participant or beneficiary fails to make such an election within a reasonable period specified in the notice, any subsequent election shall not be given effect and the benefit shall be treated as an unclaimed benefit. A notice mailed to the last known address of the participant or beneficiary shall be treated as a notice to the participant or beneficiary for purposes of this paragraph. (B) Ongoing plan \nThe term ongoing plan means any plan which has neither terminated nor is in the process of terminating. (C) Terminated plan \nThe term terminated plan means any plan which has terminated or is in the process of terminating. (D) Missing participant \nThe term missing participant shall have the meaning given to such term by section 4050(b)(1) of the Employee Retirement Income Security Act of 1974..", "id": "HAACED3EDC89F44CEA221CFBABA50EAD0", "header": "Requirements", "nested": [], "links": [] }, { "text": "(c) Conforming amendment \nSubparagraph (B) of section 401(a)(31) of such Code is amended by adding at the end the following: (iii) Other permitted transfers \nA plan administrator shall be treated as having complied with the requirements of this subparagraph if such plan administrator complies with the requirements of section 414(w)..", "id": "H402AC1205DF54028BD430609B9878095", "header": "Conforming amendment", "nested": [], "links": [] } ], "links": [ { "text": "Section 401(a)(34)", "legal-doc": "usc", "parsable-cite": "usc/26/401" } ] }, { "text": "604. Income averaging of corrected civil service annuity benefit payments \n(a) In general \nPart I of subchapter Q of chapter 1 of the Internal Revenue Code of 1986 (relating to income averaging) is amended by inserting after section 1301 the following new section: 1302. Averaging of corrected civil service annuity benefit payments \n(a) In general \nUnless the taxpayer elects not to have this section apply for a taxable year, any corrected civil service annuity benefit payment includable in gross income for such taxable year (without regard to this section) shall be so included ratably over the 5-taxable year period beginning with such taxable year. (b) Corrected civil service annuity benefit payment \nFor purposes of subsection (a), the term corrected civil service annuity benefit payment means with respect to an individual the sum of— (1) the lump sum payment awarded by reason of a court order, or decision of the Merit Systems Protection Board, under which the individual is entitled to receive an amount equal to all or any part of an annuity not paid to the individual as a result of an erroneous application or interpretation of subchapter III of chapter 83 or chapter 84 of title 5, United States Code, or any other provision of law (or any rule or regulation relating thereto), plus (2) interest on the amount described in paragraph (1) awarded under section 7704 of title 5, United States Code. (c) Annuity \nFor purposes of subsection (b), the term annuity has the meaning given to such term by section 7704(c) of title 5, United States Code. (d) Finality of election \nAn election under subsection (a) with respect to a corrected civil service annuity benefit payment for a taxable year may not be changed after the due date of the return for such taxable year.. (b) Clerical amendment \nThe table of sections for part I of subchapter Q of chapter 1 of such Code is amended by inserting after the item relating to section 1301 the following new item: Sec. 1302. Averaging of corrected civil service annuity benefit payments. (c) Effective date \nThe amendments made by this section shall apply to payments received after December 31, 2004.", "id": "HF2753EA01E7344BDBFEF5E29E9B7C9", "header": "Income averaging of corrected civil service annuity benefit payments", "nested": [ { "text": "(a) In general \nPart I of subchapter Q of chapter 1 of the Internal Revenue Code of 1986 (relating to income averaging) is amended by inserting after section 1301 the following new section: 1302. Averaging of corrected civil service annuity benefit payments \n(a) In general \nUnless the taxpayer elects not to have this section apply for a taxable year, any corrected civil service annuity benefit payment includable in gross income for such taxable year (without regard to this section) shall be so included ratably over the 5-taxable year period beginning with such taxable year. (b) Corrected civil service annuity benefit payment \nFor purposes of subsection (a), the term corrected civil service annuity benefit payment means with respect to an individual the sum of— (1) the lump sum payment awarded by reason of a court order, or decision of the Merit Systems Protection Board, under which the individual is entitled to receive an amount equal to all or any part of an annuity not paid to the individual as a result of an erroneous application or interpretation of subchapter III of chapter 83 or chapter 84 of title 5, United States Code, or any other provision of law (or any rule or regulation relating thereto), plus (2) interest on the amount described in paragraph (1) awarded under section 7704 of title 5, United States Code. (c) Annuity \nFor purposes of subsection (b), the term annuity has the meaning given to such term by section 7704(c) of title 5, United States Code. (d) Finality of election \nAn election under subsection (a) with respect to a corrected civil service annuity benefit payment for a taxable year may not be changed after the due date of the return for such taxable year..", "id": "HFBDFF8B0785F4FE3803000D27254EAF4", "header": "In general", "nested": [], "links": [ { "text": "chapter 1", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/26/1" }, { "text": "chapter 84", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/5/84" }, { "text": "section 7704", "legal-doc": "usc", "parsable-cite": "usc/5/7704" }, { "text": "section 7704(c)", "legal-doc": "usc", "parsable-cite": "usc/5/7704" } ] }, { "text": "(b) Clerical amendment \nThe table of sections for part I of subchapter Q of chapter 1 of such Code is amended by inserting after the item relating to section 1301 the following new item: Sec. 1302. Averaging of corrected civil service annuity benefit payments.", "id": "HC69C9B08DF3B4FB3B32E462CB051DDBE", "header": "Clerical amendment", "nested": [], "links": [] }, { "text": "(c) Effective date \nThe amendments made by this section shall apply to payments received after December 31, 2004.", "id": "HE47327E2D6944CC8A19B517D6D62A1D8", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "chapter 1", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/26/1" }, { "text": "chapter 84", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/5/84" }, { "text": "section 7704", "legal-doc": "usc", "parsable-cite": "usc/5/7704" }, { "text": "section 7704(c)", "legal-doc": "usc", "parsable-cite": "usc/5/7704" } ] }, { "text": "1302. Averaging of corrected civil service annuity benefit payments \n(a) In general \nUnless the taxpayer elects not to have this section apply for a taxable year, any corrected civil service annuity benefit payment includable in gross income for such taxable year (without regard to this section) shall be so included ratably over the 5-taxable year period beginning with such taxable year. (b) Corrected civil service annuity benefit payment \nFor purposes of subsection (a), the term corrected civil service annuity benefit payment means with respect to an individual the sum of— (1) the lump sum payment awarded by reason of a court order, or decision of the Merit Systems Protection Board, under which the individual is entitled to receive an amount equal to all or any part of an annuity not paid to the individual as a result of an erroneous application or interpretation of subchapter III of chapter 83 or chapter 84 of title 5, United States Code, or any other provision of law (or any rule or regulation relating thereto), plus (2) interest on the amount described in paragraph (1) awarded under section 7704 of title 5, United States Code. (c) Annuity \nFor purposes of subsection (b), the term annuity has the meaning given to such term by section 7704(c) of title 5, United States Code. (d) Finality of election \nAn election under subsection (a) with respect to a corrected civil service annuity benefit payment for a taxable year may not be changed after the due date of the return for such taxable year.", "id": "H8BC27E71173C43F8A7E530E300B0B46", "header": "Averaging of corrected civil service annuity benefit payments", "nested": [ { "text": "(a) In general \nUnless the taxpayer elects not to have this section apply for a taxable year, any corrected civil service annuity benefit payment includable in gross income for such taxable year (without regard to this section) shall be so included ratably over the 5-taxable year period beginning with such taxable year.", "id": "H74211EBA5AE44099839837E0D2A5AE1B", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Corrected civil service annuity benefit payment \nFor purposes of subsection (a), the term corrected civil service annuity benefit payment means with respect to an individual the sum of— (1) the lump sum payment awarded by reason of a court order, or decision of the Merit Systems Protection Board, under which the individual is entitled to receive an amount equal to all or any part of an annuity not paid to the individual as a result of an erroneous application or interpretation of subchapter III of chapter 83 or chapter 84 of title 5, United States Code, or any other provision of law (or any rule or regulation relating thereto), plus (2) interest on the amount described in paragraph (1) awarded under section 7704 of title 5, United States Code.", "id": "H1C16F70C27084098836091BE65BC639", "header": "Corrected civil service annuity benefit payment", "nested": [], "links": [ { "text": "chapter 84", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/5/84" }, { "text": "section 7704", "legal-doc": "usc", "parsable-cite": "usc/5/7704" } ] }, { "text": "(c) Annuity \nFor purposes of subsection (b), the term annuity has the meaning given to such term by section 7704(c) of title 5, United States Code.", "id": "H8E954BA7A8A54660A574AE6C2532DFB4", "header": "Annuity", "nested": [], "links": [ { "text": "section 7704(c)", "legal-doc": "usc", "parsable-cite": "usc/5/7704" } ] }, { "text": "(d) Finality of election \nAn election under subsection (a) with respect to a corrected civil service annuity benefit payment for a taxable year may not be changed after the due date of the return for such taxable year.", "id": "H2C44CC5C667B41029D973CAA46C67345", "header": "Finality of election", "nested": [], "links": [] } ], "links": [ { "text": "chapter 84", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/5/84" }, { "text": "section 7704", "legal-doc": "usc", "parsable-cite": "usc/5/7704" }, { "text": "section 7704(c)", "legal-doc": "usc", "parsable-cite": "usc/5/7704" } ] }, { "text": "605. Prohibited transaction exemption for the provision of investment advice \n(a) Prohibited transaction exemption \nSubsection (d) of section 4975 of the Internal Revenue Code of 1986 (relating to exemptions from tax on prohibited transactions), as amended by this Act, is further amended— (1) in paragraph (15), by striking or at the end, (2) in paragraph (16), by striking the period at the end and inserting ; or , and (3) by adding at the end the following new paragraph: (17) any transaction described in subsection (f)(7)(A) in connection with the provision of investment advice described in subsection (e)(3)(B), in any case in which— (A) the plan provides for individual accounts and permits a participant or beneficiary to exercise control over assets in his or her account, (B) the advice is qualified investment advice provided to a participant or beneficiary of the plan by a fiduciary adviser in connection with any sale, acquisition, or holding of a security or other property for purposes of investment of plan assets, and (C) the requirements of subsection (f)(7)(B) are met in connection with each instance of the provision of the advice.. (b) Transactions allowed and related requirements \nSubsection (f) of such section 4975 (relating to other definitions and special rules) is amended by adding at the end the following new paragraph: (7) Investment advice provided by fiduciary advisers \n(A) Allowable transactions \nThe transactions referred to in subsection (d)(16), in connection with the provision of investment advice by a fiduciary adviser, are the following: (i) the provision of the advice to the participant or beneficiary, (ii) the sale, acquisition, or holding of a security or other property (including any lending of money or other extension of credit associated with the sale, acquisition, or holding of a security or other property) pursuant to the advice, and (iii) the direct or indirect receipt of fees or other compensation by the fiduciary adviser or an affiliate thereof (or any employee, agent, or registered representative of the fiduciary adviser or affiliate) in connection with the provision of the advice. (B) Requirements for exemption from prohibited transactions with respect to provision of investment advice \nThe requirements of this subparagraph (referred to in subsection (d)(16)(C)) are met in connection with the provision of qualified investment advice provided to a participant or beneficiary of an employee benefit plan by a fiduciary adviser with respect to the plan in connection with any sale, acquisition, or holding of a security or other property for purposes of investment of amounts held by the plan, if the requirements of the following clauses are met: (i) Written disclosures \nAt a time contemporaneous with the provision of the advice in connection with the sale, acquisition, or holding of the security or other property, the fiduciary adviser shall provide to the recipient of the advice a clear and conspicuous notification, written in a manner to be reasonably understood by the average plan participant pursuant to regulations which shall be prescribed by the Secretary (including mathematical examples), of the following: (I) Interests held by the fiduciary adviser \nAny interest of the fiduciary adviser in, or any affiliation or contractual relationship of the fiduciary adviser (or affiliates thereof) with any third party having an interest in, the security or other property. (II) Related fees or compensation in connection with the provision of the advice \nAll fees or other compensation relating to the advice (including fees or other compensation itemized with respect to each security or other property with respect to which the advice is provided) that the fiduciary adviser (or any affiliate thereof) is to receive (including compensation provided by any third party) in connection with the provision of the advice or in connection with the sale, acquisition, or holding of the security or other property. (III) Ongoing fees or compensation in connection with the security or property involved \nAll fees or other compensation that the fiduciary adviser (or any affiliate thereof) is to receive, on an ongoing basis, in connection with any security or other property with respect to which the fiduciary adviser gives the advice. (IV) Applicable limitations on scope of advice \nAny limitation placed (in accordance with the requirements of this subsection) on the scope of the advice to be provided by the fiduciary adviser with respect to the sale, acquisition, or holding of the security or other property. (V) Types of services generally offered \nThe types of services offered by the fiduciary adviser in connection with the provision of qualified investment advice by the fiduciary adviser. (VI) Fiduciary status of the fiduciary adviser \nThat the fiduciary advisor is a fiduciary of the plan. (ii) Disclosure by fiduciary adviser in accordance with applicable securities laws \nThe fiduciary adviser shall provide appropriate disclosure, in connection with the sale, acquisition, or holding of the security or other property, in accordance with all applicable securities laws. (iii) Transaction occurring solely at direction of recipient of advice \nThe sale, acquisition, or holding of the security or other property shall occur solely at the direction of the recipient of the advice. (iv) Reasonable compensation \nThe compensation received by the fiduciary adviser and affiliates thereof in connection with the sale, acquisition, or holding of the security or other property shall be reasonable. (v) Arm’s length transaction \nThe terms of the sale, acquisition, or holding of the security or other property shall be at least as favorable to the plan as an arm’s length transaction would be. (C) Continued availability of information for at least 1 year \nThe requirements of subparagraph (B)(i) shall be deemed not to have been met in connection with the initial or any subsequent provision of advice described in subparagraph (B) if, at any time during the 1-year period following the provision of the advice, the fiduciary adviser fails to maintain the information described in subclauses (I) through (IV) of subparagraph (B)(i) in currently accurate form or to make the information available, upon request and without charge, to the recipient of the advice. (D) Evidence of compliance maintained for at least 6 years \nA fiduciary adviser referred to in subparagraph (B) who has provided advice referred to in such subparagraph shall, for a period of not less than 6 years after the provision of the advice, maintain any records necessary for determining whether the requirements of the preceding provisions of this paragraph and of subsection (d)(16) have been met. A transaction prohibited under subsection (c)(1) shall not be considered to have occurred solely because the records are lost or destroyed prior to the end of the 6-year period due to circumstances beyond the control of the fiduciary adviser. (E) Model disclosure forms \nThe Secretary shall prescribe regulations setting forth model disclosure forms to assist fiduciary advisers in complying with the disclosure requirements of under this paragraph. (F) Annual reviews by the Secretary \nThe Secretary shall conduct annual reviews of randomly selected fiduciary advisers providing qualified investment advice to participants and beneficiaries. In the case of each review, the Secretary shall review the following: (i) Compliance by advice computer models with generally accepted investment management principles \nThe extent to which advice computer models employed by the fiduciary adviser comply with generally accepted investment management principles. (ii) Compliance with disclosure requirements \nThe extent to which disclosures provided by the fiduciary adviser have complied with the requirements of this subsection. (iii) Extent of violations \nThe extent to which any violations of fiduciary duties have occurred in connection with the provision of the advice. (iv) Extent of reported complaints \nThe extent to which complaints to relevant agencies have been made in connection with the provision of the advice. Any proprietary information obtained by the Secretary shall be treated as confidential. (G) Duty of conflicted fiduciary adviser to provide for alternative independent advice \n(i) In general \nIn connection with any qualified investment advice provided by a fiduciary adviser to a participant or beneficiary regarding any security or other property, if the fiduciary adviser— (I) has an interest in the security or other property, or (II) has an affiliation or contractual relationship with any third party that has an interest in the security or other property, the requirements of subparagraph (B) shall be treated as not met in connection with the advice unless the fiduciary adviser has arranged, as an alternative to the advice that would otherwise be provided by the fiduciary advisor, for qualified investment advice with respect to the security or other property provided by at least one alternative investment adviser meeting the requirements of clause (ii). (ii) Independence and qualifications of alternative investment adviser \nAny alternative investment adviser whose qualified investment advice is arranged for by a fiduciary adviser pursuant to clause (i)— (I) shall have no material interest in, and no material affiliation or contractual relationship with any third party having a material interest in, the security or other property with respect to which the investment adviser is providing the advice, and (II) shall meet the requirements of a fiduciary adviser under subparagraph (H)(i), except that an alternative investment adviser may not be a fiduciary of the plan other than in connection with the provision of the advice. (iii) Scope and fees of alternative investment advice \nAny qualified investment advice provided pursuant to this subparagraph by an alternative investment adviser shall be of the same type and scope, and provided under the same terms and conditions (including no additional charge to the participant or beneficiary), as apply with respect to the qualified investment advice to be provided by the fiduciary adviser. (H) Fiduciary adviser defined \nFor purposes of this paragraph and subsection (d)(16)— (i) In general \nThe term fiduciary adviser means, with respect to a plan, a person who— (I) is a fiduciary of the plan by reason of the provision of qualified investment advice by such person to a participant or beneficiary, (II) meets the qualifications of clause (ii), and (III) meets the additional requirements of clause (iii). (ii) Qualifications \nA person meets the qualifications of this clause if such person— (I) is registered as an investment adviser under the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–1 et seq. ), (II) if not registered as an investment adviser under such Act by reason of section 203A(a)(1) of such Act (15 U.S.C. 80b–3a(a)(1)), is registered under the laws of the State in which the fiduciary maintains its principal office and place of business, and, at the time the fiduciary last filed the registration form most recently filed by the fiduciary with such State in order to maintain the fiduciary’s registration under the laws of such State, also filed a copy of such form with the Secretary, (III) is registered as a broker or dealer under the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq. ), (IV) is a bank or similar financial institution referred to in subsection (d)(4), (V) is an insurance company qualified to do business under the laws of a State, or (VI) is any other comparable entity which satisfies such criteria as the Secretary determines appropriate. (iii) Additional requirements with respect to certain employees or other agents of certain advisers \nA person meets the additional requirements of this clause if every individual who is employed (or otherwise compensated) by such person and whose scope of duties includes the provision of qualified investment advice on behalf of such person to any participant or beneficiary is— (I) a registered representative of such person, (II) an individual described in subclause (I), (II), or (III) of clause (ii), or (III) such other comparable qualified individual as may be designated in regulations of the Secretary. (I) Additional definitions \nFor purposes of this paragraph and subsection (d)(16)— (i) Qualified investment advice \nThe term qualified investment advice means, in connection with a participant or beneficiary, investment advice referred to in subsection (e)(3)(B) which— (I) consists of an individualized recommendation to the participant or beneficiary with respect to the purchase, sale, or retention of securities or other property for the individual account of the participant or beneficiary, in accordance with generally accepted investment management principles, and (II) takes into account all investment options under the plan. (ii) Affiliate \nThe term affiliate of another entity means an affiliated person of such entity (as defined in section 2(a)(3) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–2(a)(3) )). (iii) Registered representative \nThe term registered representative of another entity means a person described in section 3(a)(18) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a)(18) ) (substituting such entity for the broker or dealer referred to in such section) or a person described in section 202(a)(17) of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–2(a)(17) ) (substituting such entity for the investment adviser referred to in such section).. (c) Effective date \nThe amendments made by this section shall apply with respect to advice referred to in section 4975(e)(3)(B) of the Internal Revenue Code of 1986 provided on or after January 1, 2005.", "id": "H3F8DFC8B368F49D3B366F8BD3EF1D2BC", "header": "Prohibited transaction exemption for the provision of investment advice", "nested": [ { "text": "(a) Prohibited transaction exemption \nSubsection (d) of section 4975 of the Internal Revenue Code of 1986 (relating to exemptions from tax on prohibited transactions), as amended by this Act, is further amended— (1) in paragraph (15), by striking or at the end, (2) in paragraph (16), by striking the period at the end and inserting ; or , and (3) by adding at the end the following new paragraph: (17) any transaction described in subsection (f)(7)(A) in connection with the provision of investment advice described in subsection (e)(3)(B), in any case in which— (A) the plan provides for individual accounts and permits a participant or beneficiary to exercise control over assets in his or her account, (B) the advice is qualified investment advice provided to a participant or beneficiary of the plan by a fiduciary adviser in connection with any sale, acquisition, or holding of a security or other property for purposes of investment of plan assets, and (C) the requirements of subsection (f)(7)(B) are met in connection with each instance of the provision of the advice..", "id": "H926B3B4C17B34ABE9C67B55572F82CD5", "header": "Prohibited transaction exemption", "nested": [], "links": [ { "text": "section 4975", "legal-doc": "usc", "parsable-cite": "usc/26/4975" } ] }, { "text": "(b) Transactions allowed and related requirements \nSubsection (f) of such section 4975 (relating to other definitions and special rules) is amended by adding at the end the following new paragraph: (7) Investment advice provided by fiduciary advisers \n(A) Allowable transactions \nThe transactions referred to in subsection (d)(16), in connection with the provision of investment advice by a fiduciary adviser, are the following: (i) the provision of the advice to the participant or beneficiary, (ii) the sale, acquisition, or holding of a security or other property (including any lending of money or other extension of credit associated with the sale, acquisition, or holding of a security or other property) pursuant to the advice, and (iii) the direct or indirect receipt of fees or other compensation by the fiduciary adviser or an affiliate thereof (or any employee, agent, or registered representative of the fiduciary adviser or affiliate) in connection with the provision of the advice. (B) Requirements for exemption from prohibited transactions with respect to provision of investment advice \nThe requirements of this subparagraph (referred to in subsection (d)(16)(C)) are met in connection with the provision of qualified investment advice provided to a participant or beneficiary of an employee benefit plan by a fiduciary adviser with respect to the plan in connection with any sale, acquisition, or holding of a security or other property for purposes of investment of amounts held by the plan, if the requirements of the following clauses are met: (i) Written disclosures \nAt a time contemporaneous with the provision of the advice in connection with the sale, acquisition, or holding of the security or other property, the fiduciary adviser shall provide to the recipient of the advice a clear and conspicuous notification, written in a manner to be reasonably understood by the average plan participant pursuant to regulations which shall be prescribed by the Secretary (including mathematical examples), of the following: (I) Interests held by the fiduciary adviser \nAny interest of the fiduciary adviser in, or any affiliation or contractual relationship of the fiduciary adviser (or affiliates thereof) with any third party having an interest in, the security or other property. (II) Related fees or compensation in connection with the provision of the advice \nAll fees or other compensation relating to the advice (including fees or other compensation itemized with respect to each security or other property with respect to which the advice is provided) that the fiduciary adviser (or any affiliate thereof) is to receive (including compensation provided by any third party) in connection with the provision of the advice or in connection with the sale, acquisition, or holding of the security or other property. (III) Ongoing fees or compensation in connection with the security or property involved \nAll fees or other compensation that the fiduciary adviser (or any affiliate thereof) is to receive, on an ongoing basis, in connection with any security or other property with respect to which the fiduciary adviser gives the advice. (IV) Applicable limitations on scope of advice \nAny limitation placed (in accordance with the requirements of this subsection) on the scope of the advice to be provided by the fiduciary adviser with respect to the sale, acquisition, or holding of the security or other property. (V) Types of services generally offered \nThe types of services offered by the fiduciary adviser in connection with the provision of qualified investment advice by the fiduciary adviser. (VI) Fiduciary status of the fiduciary adviser \nThat the fiduciary advisor is a fiduciary of the plan. (ii) Disclosure by fiduciary adviser in accordance with applicable securities laws \nThe fiduciary adviser shall provide appropriate disclosure, in connection with the sale, acquisition, or holding of the security or other property, in accordance with all applicable securities laws. (iii) Transaction occurring solely at direction of recipient of advice \nThe sale, acquisition, or holding of the security or other property shall occur solely at the direction of the recipient of the advice. (iv) Reasonable compensation \nThe compensation received by the fiduciary adviser and affiliates thereof in connection with the sale, acquisition, or holding of the security or other property shall be reasonable. (v) Arm’s length transaction \nThe terms of the sale, acquisition, or holding of the security or other property shall be at least as favorable to the plan as an arm’s length transaction would be. (C) Continued availability of information for at least 1 year \nThe requirements of subparagraph (B)(i) shall be deemed not to have been met in connection with the initial or any subsequent provision of advice described in subparagraph (B) if, at any time during the 1-year period following the provision of the advice, the fiduciary adviser fails to maintain the information described in subclauses (I) through (IV) of subparagraph (B)(i) in currently accurate form or to make the information available, upon request and without charge, to the recipient of the advice. (D) Evidence of compliance maintained for at least 6 years \nA fiduciary adviser referred to in subparagraph (B) who has provided advice referred to in such subparagraph shall, for a period of not less than 6 years after the provision of the advice, maintain any records necessary for determining whether the requirements of the preceding provisions of this paragraph and of subsection (d)(16) have been met. A transaction prohibited under subsection (c)(1) shall not be considered to have occurred solely because the records are lost or destroyed prior to the end of the 6-year period due to circumstances beyond the control of the fiduciary adviser. (E) Model disclosure forms \nThe Secretary shall prescribe regulations setting forth model disclosure forms to assist fiduciary advisers in complying with the disclosure requirements of under this paragraph. (F) Annual reviews by the Secretary \nThe Secretary shall conduct annual reviews of randomly selected fiduciary advisers providing qualified investment advice to participants and beneficiaries. In the case of each review, the Secretary shall review the following: (i) Compliance by advice computer models with generally accepted investment management principles \nThe extent to which advice computer models employed by the fiduciary adviser comply with generally accepted investment management principles. (ii) Compliance with disclosure requirements \nThe extent to which disclosures provided by the fiduciary adviser have complied with the requirements of this subsection. (iii) Extent of violations \nThe extent to which any violations of fiduciary duties have occurred in connection with the provision of the advice. (iv) Extent of reported complaints \nThe extent to which complaints to relevant agencies have been made in connection with the provision of the advice. Any proprietary information obtained by the Secretary shall be treated as confidential. (G) Duty of conflicted fiduciary adviser to provide for alternative independent advice \n(i) In general \nIn connection with any qualified investment advice provided by a fiduciary adviser to a participant or beneficiary regarding any security or other property, if the fiduciary adviser— (I) has an interest in the security or other property, or (II) has an affiliation or contractual relationship with any third party that has an interest in the security or other property, the requirements of subparagraph (B) shall be treated as not met in connection with the advice unless the fiduciary adviser has arranged, as an alternative to the advice that would otherwise be provided by the fiduciary advisor, for qualified investment advice with respect to the security or other property provided by at least one alternative investment adviser meeting the requirements of clause (ii). (ii) Independence and qualifications of alternative investment adviser \nAny alternative investment adviser whose qualified investment advice is arranged for by a fiduciary adviser pursuant to clause (i)— (I) shall have no material interest in, and no material affiliation or contractual relationship with any third party having a material interest in, the security or other property with respect to which the investment adviser is providing the advice, and (II) shall meet the requirements of a fiduciary adviser under subparagraph (H)(i), except that an alternative investment adviser may not be a fiduciary of the plan other than in connection with the provision of the advice. (iii) Scope and fees of alternative investment advice \nAny qualified investment advice provided pursuant to this subparagraph by an alternative investment adviser shall be of the same type and scope, and provided under the same terms and conditions (including no additional charge to the participant or beneficiary), as apply with respect to the qualified investment advice to be provided by the fiduciary adviser. (H) Fiduciary adviser defined \nFor purposes of this paragraph and subsection (d)(16)— (i) In general \nThe term fiduciary adviser means, with respect to a plan, a person who— (I) is a fiduciary of the plan by reason of the provision of qualified investment advice by such person to a participant or beneficiary, (II) meets the qualifications of clause (ii), and (III) meets the additional requirements of clause (iii). (ii) Qualifications \nA person meets the qualifications of this clause if such person— (I) is registered as an investment adviser under the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–1 et seq. ), (II) if not registered as an investment adviser under such Act by reason of section 203A(a)(1) of such Act (15 U.S.C. 80b–3a(a)(1)), is registered under the laws of the State in which the fiduciary maintains its principal office and place of business, and, at the time the fiduciary last filed the registration form most recently filed by the fiduciary with such State in order to maintain the fiduciary’s registration under the laws of such State, also filed a copy of such form with the Secretary, (III) is registered as a broker or dealer under the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq. ), (IV) is a bank or similar financial institution referred to in subsection (d)(4), (V) is an insurance company qualified to do business under the laws of a State, or (VI) is any other comparable entity which satisfies such criteria as the Secretary determines appropriate. (iii) Additional requirements with respect to certain employees or other agents of certain advisers \nA person meets the additional requirements of this clause if every individual who is employed (or otherwise compensated) by such person and whose scope of duties includes the provision of qualified investment advice on behalf of such person to any participant or beneficiary is— (I) a registered representative of such person, (II) an individual described in subclause (I), (II), or (III) of clause (ii), or (III) such other comparable qualified individual as may be designated in regulations of the Secretary. (I) Additional definitions \nFor purposes of this paragraph and subsection (d)(16)— (i) Qualified investment advice \nThe term qualified investment advice means, in connection with a participant or beneficiary, investment advice referred to in subsection (e)(3)(B) which— (I) consists of an individualized recommendation to the participant or beneficiary with respect to the purchase, sale, or retention of securities or other property for the individual account of the participant or beneficiary, in accordance with generally accepted investment management principles, and (II) takes into account all investment options under the plan. (ii) Affiliate \nThe term affiliate of another entity means an affiliated person of such entity (as defined in section 2(a)(3) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–2(a)(3) )). (iii) Registered representative \nThe term registered representative of another entity means a person described in section 3(a)(18) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a)(18) ) (substituting such entity for the broker or dealer referred to in such section) or a person described in section 202(a)(17) of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–2(a)(17) ) (substituting such entity for the investment adviser referred to in such section)..", "id": "H11384525AE7A4DC091EDAF312C8BE600", "header": "Transactions allowed and related requirements", "nested": [], "links": [ { "text": "15 U.S.C. 80b–1 et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/80b-1" }, { "text": "15 U.S.C. 78a et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/78a" }, { "text": "15 U.S.C. 80a–2(a)(3)", "legal-doc": "usc", "parsable-cite": "usc/15/80a-2" }, { "text": "15 U.S.C. 78c(a)(18)", "legal-doc": "usc", "parsable-cite": "usc/15/78c" }, { "text": "15 U.S.C. 80b–2(a)(17)", "legal-doc": "usc", "parsable-cite": "usc/15/80b-2" } ] }, { "text": "(c) Effective date \nThe amendments made by this section shall apply with respect to advice referred to in section 4975(e)(3)(B) of the Internal Revenue Code of 1986 provided on or after January 1, 2005.", "id": "H39F22984837C4BB0A36245B92574CCD", "header": "Effective date", "nested": [], "links": [ { "text": "section 4975(e)(3)(B)", "legal-doc": "usc", "parsable-cite": "usc/26/4975" } ] } ], "links": [ { "text": "section 4975", "legal-doc": "usc", "parsable-cite": "usc/26/4975" }, { "text": "15 U.S.C. 80b–1 et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/80b-1" }, { "text": "15 U.S.C. 78a et seq.", "legal-doc": "usc", "parsable-cite": "usc/15/78a" }, { "text": "15 U.S.C. 80a–2(a)(3)", "legal-doc": "usc", "parsable-cite": "usc/15/80a-2" }, { "text": "15 U.S.C. 78c(a)(18)", "legal-doc": "usc", "parsable-cite": "usc/15/78c" }, { "text": "15 U.S.C. 80b–2(a)(17)", "legal-doc": "usc", "parsable-cite": "usc/15/80b-2" }, { "text": "section 4975(e)(3)(B)", "legal-doc": "usc", "parsable-cite": "usc/26/4975" } ] }, { "text": "606. Increase in deductible contributions to single-employer defined benefit plan upon payment of increased premium to the Pension Benefit Guaranty Corporation \n(a) Increase in deductible contributions \nParagraph (1) of section 404(a) of the Internal Revenue Code of 1986 (relating to deduction for contributions to pension trusts) is amended— (1) by redesignating subparagraph (E) as subparagraph (F); and (2) by inserting after subparagraph (D) the following new subparagraph: (E) Special rule in the event of payment of increased PBGC premium with respect to single-employer defined benefit plan \nIn any case in which the Secretary— (i) receives certification by the plan administrator of a single-employer defined benefit plan that the increased premium authorized under section 4006(a)(3)(F) of the Employee Retirement Income Security Act of 1974 has been paid for any plan year, and (ii) receives certification of such payment from the Pension Benefit Guaranty Corporation, the maximum amount deductible under the limitations of this paragraph for such plan year shall not be less than 150 percent of current liability determined under section 412(l).. (b) Election of payment of increased premium \nSection 4006(a)(3) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1306(a)(3) ) is amended by adding at the end the following new subparagraph: (F) The corporation shall provide for payment of the premium for any plan year for basic benefits guaranteed under this title with respect to a single-employer plan for any plan year at an increased annual rate equal to $24.70 in any case in which such payment is accompanied by certification by the contributing sponsor or plan administrator that such payment is made for purposes of increased deductibility of contributions for such plan year under section 404(a)(1)(E) of the Internal Revenue Code of 1986. The Corporation shall promptly certify receipt of any premium at the increased annual rate provided for under this subparagraph to the Secretary of the Treasury..", "id": "HF1840E6266664991BC315DD80C73F5E", "header": "Increase in deductible contributions to single-employer defined benefit plan upon payment of increased premium to the Pension Benefit Guaranty Corporation", "nested": [ { "text": "(a) Increase in deductible contributions \nParagraph (1) of section 404(a) of the Internal Revenue Code of 1986 (relating to deduction for contributions to pension trusts) is amended— (1) by redesignating subparagraph (E) as subparagraph (F); and (2) by inserting after subparagraph (D) the following new subparagraph: (E) Special rule in the event of payment of increased PBGC premium with respect to single-employer defined benefit plan \nIn any case in which the Secretary— (i) receives certification by the plan administrator of a single-employer defined benefit plan that the increased premium authorized under section 4006(a)(3)(F) of the Employee Retirement Income Security Act of 1974 has been paid for any plan year, and (ii) receives certification of such payment from the Pension Benefit Guaranty Corporation, the maximum amount deductible under the limitations of this paragraph for such plan year shall not be less than 150 percent of current liability determined under section 412(l)..", "id": "HEC0175E90418494C9FCC76A5B1164DB3", "header": "Increase in deductible contributions", "nested": [], "links": [ { "text": "section 404(a)", "legal-doc": "usc", "parsable-cite": "usc/26/404" } ] }, { "text": "(b) Election of payment of increased premium \nSection 4006(a)(3) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1306(a)(3) ) is amended by adding at the end the following new subparagraph: (F) The corporation shall provide for payment of the premium for any plan year for basic benefits guaranteed under this title with respect to a single-employer plan for any plan year at an increased annual rate equal to $24.70 in any case in which such payment is accompanied by certification by the contributing sponsor or plan administrator that such payment is made for purposes of increased deductibility of contributions for such plan year under section 404(a)(1)(E) of the Internal Revenue Code of 1986. The Corporation shall promptly certify receipt of any premium at the increased annual rate provided for under this subparagraph to the Secretary of the Treasury..", "id": "H57A4E1D4116E4D8394AB29C9C1452E81", "header": "Election of payment of increased premium", "nested": [], "links": [ { "text": "29 U.S.C. 1306(a)(3)", "legal-doc": "usc", "parsable-cite": "usc/29/1306" }, { "text": "section 404(a)(1)(E)", "legal-doc": "usc", "parsable-cite": "usc/26/404" } ] } ], "links": [ { "text": "section 404(a)", "legal-doc": "usc", "parsable-cite": "usc/26/404" }, { "text": "29 U.S.C. 1306(a)(3)", "legal-doc": "usc", "parsable-cite": "usc/29/1306" }, { "text": "section 404(a)(1)(E)", "legal-doc": "usc", "parsable-cite": "usc/26/404" } ] }, { "text": "607. Exemption from prohibited transaction rules for certain aborted emergent transactions \n(a) In general \nSection 4975(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (7) Special rule for certain aborted emergent transactions \n(A) In general \nPursuant to regulations issued by the Secretary, if— (i) in the case of a qualifying transaction between an employee benefit plan and an eligible person which would, but for this paragraph, be in violation of a restriction imposed by paragraph (1), the eligible person submits to the Secretary, not later than 60 days after the date of the transaction, an application for an exemption under paragraph (2) from such restriction in the case of such transaction, (ii) the Secretary determines not to grant the exemption, and (iii) the transaction is reversed within 60 days after the date of the Secretary’s determination, then the transaction shall be exempted under paragraph (2) from treatment as a violation of such restriction. (B) Qualifying transaction \nThe term qualifying transaction means, in connection with an eligible person, a transaction between an employee benefit plan and such eligible person constituting the purchase or sale of a financial product, if— (i) prior to engaging in the transaction, the plan acquires from the eligible person a sufficient guarantee, consisting of a letter of credit or other form of written guarantee, issued by a bank or similar financial institution (other than the eligible person requesting the exemption or an affiliate) regulated and supervised by, and subject to periodic examination by, an agency of a State or of the Federal Government, in a stated amount equal, as of the close of business on the day preceding the transaction, to not less than 100 percent of the amount of plan assets involved in the transaction, plus interest on that amount at a rate determined by the parties to the transaction, or in the absence of such determination, an interest rate equal to the underpayment rate defined in section 6621(a)(2), (ii) the eligible person receives in such transaction not more than reasonable compensation, (iii) such transaction is expressly approved by an independent fiduciary who has investment authority with respect to the plan assets involved in the transaction, and (iv) immediately after the acquisition of the financial product— (I) the fair market value of such financial product does not exceed 1 percent of the fair market value of the assets of the plan, and (II) the aggregate fair market value of all outstanding financial products acquired by the plan from the eligible person pursuant to this subsection does not exceed 5 percent of the fair market value of the assets of the plan. (C) Sufficient guarantee \nA guarantee referred to in subparagraph (B) is sufficient if such guarantee is irrevocable and, under the terms of the guarantee, if the Secretary determines not to grant the exemption, the plan has the unconditional right to apply the amounts under the guarantee to any losses suffered and to the payment of interest determined under the terms of the transaction. A guarantee shall not be treated as failing to be sufficient solely because, under the terms of the guarantee, if the Secretary grants the exemption, the guarantee may expire without any payments made to the plan. (D) Eligible person \nThe term eligible person means a person that— (i) consists of— (I) a bank as defined in section 202(a)(2) of the Investment Advisers Act of 1940 , (II) an investment adviser registered under the Investment Advisers Act of 1940 , (III) an insurance company which is qualified to do business in more than one State, or (IV) a broker-dealer registered under the Securities Exchange Act of 1934 , (ii) has shareholders’ or partners’ equity in excess of $1,000,000, and (iii) is not described in section 411 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1111 ).. (b) Effective date \nThe amendment made by this section shall apply with respect to transactions occurring after December 31, 2005.", "id": "H7311003451884A5FB43E1F91FD173B08", "header": "Exemption from prohibited transaction rules for certain aborted emergent transactions", "nested": [ { "text": "(a) In general \nSection 4975(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (7) Special rule for certain aborted emergent transactions \n(A) In general \nPursuant to regulations issued by the Secretary, if— (i) in the case of a qualifying transaction between an employee benefit plan and an eligible person which would, but for this paragraph, be in violation of a restriction imposed by paragraph (1), the eligible person submits to the Secretary, not later than 60 days after the date of the transaction, an application for an exemption under paragraph (2) from such restriction in the case of such transaction, (ii) the Secretary determines not to grant the exemption, and (iii) the transaction is reversed within 60 days after the date of the Secretary’s determination, then the transaction shall be exempted under paragraph (2) from treatment as a violation of such restriction. (B) Qualifying transaction \nThe term qualifying transaction means, in connection with an eligible person, a transaction between an employee benefit plan and such eligible person constituting the purchase or sale of a financial product, if— (i) prior to engaging in the transaction, the plan acquires from the eligible person a sufficient guarantee, consisting of a letter of credit or other form of written guarantee, issued by a bank or similar financial institution (other than the eligible person requesting the exemption or an affiliate) regulated and supervised by, and subject to periodic examination by, an agency of a State or of the Federal Government, in a stated amount equal, as of the close of business on the day preceding the transaction, to not less than 100 percent of the amount of plan assets involved in the transaction, plus interest on that amount at a rate determined by the parties to the transaction, or in the absence of such determination, an interest rate equal to the underpayment rate defined in section 6621(a)(2), (ii) the eligible person receives in such transaction not more than reasonable compensation, (iii) such transaction is expressly approved by an independent fiduciary who has investment authority with respect to the plan assets involved in the transaction, and (iv) immediately after the acquisition of the financial product— (I) the fair market value of such financial product does not exceed 1 percent of the fair market value of the assets of the plan, and (II) the aggregate fair market value of all outstanding financial products acquired by the plan from the eligible person pursuant to this subsection does not exceed 5 percent of the fair market value of the assets of the plan. (C) Sufficient guarantee \nA guarantee referred to in subparagraph (B) is sufficient if such guarantee is irrevocable and, under the terms of the guarantee, if the Secretary determines not to grant the exemption, the plan has the unconditional right to apply the amounts under the guarantee to any losses suffered and to the payment of interest determined under the terms of the transaction. A guarantee shall not be treated as failing to be sufficient solely because, under the terms of the guarantee, if the Secretary grants the exemption, the guarantee may expire without any payments made to the plan. (D) Eligible person \nThe term eligible person means a person that— (i) consists of— (I) a bank as defined in section 202(a)(2) of the Investment Advisers Act of 1940 , (II) an investment adviser registered under the Investment Advisers Act of 1940 , (III) an insurance company which is qualified to do business in more than one State, or (IV) a broker-dealer registered under the Securities Exchange Act of 1934 , (ii) has shareholders’ or partners’ equity in excess of $1,000,000, and (iii) is not described in section 411 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1111 )..", "id": "H43F13062ED864FA9BF1C1DA51685F0AF", "header": "In general", "nested": [], "links": [ { "text": "Section 4975(c)", "legal-doc": "usc", "parsable-cite": "usc/26/4975" }, { "text": "29 U.S.C. 1111", "legal-doc": "usc", "parsable-cite": "usc/29/1111" } ] }, { "text": "(b) Effective date \nThe amendment made by this section shall apply with respect to transactions occurring after December 31, 2005.", "id": "HAE2410EA6F004EAB9BBEF3560E7F8C", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "Section 4975(c)", "legal-doc": "usc", "parsable-cite": "usc/26/4975" }, { "text": "29 U.S.C. 1111", "legal-doc": "usc", "parsable-cite": "usc/29/1111" } ] }, { "text": "608. Pension benefit information \n(a) In general \nChapter 43 of the Internal Revenue Code of 1986 (relating to qualified pension, etc., plans) is amended by adding at the end the following new section: 4980G. Failure of applicable plans to provide notice of generally accepted investment principles \n(a) Imposition of tax \nThere is hereby imposed a tax on the failure of any applicable pension plan to meet the requirements of subsection (e) with respect to any applicable individual. (b) Amount of tax \nThe amount of the tax imposed by subsection (a) on any failure with respect to any applicable individual shall be $100 for each day in the noncompliance period with respect to such failure. (c) Limitations on amount of tax \n(1) Tax not to apply to failures corrected within 30 days \nNo tax shall be imposed by subsection (a) on any failure if— (A) any person subject to liability for the tax under subsection (d) exercised reasonable diligence to meet the requirements of subsection (e), and (B) such person provides the notice described in subsection (e) during the 30-day period beginning on the first date such person knew, or exercising reasonable diligence should have known, that such failure existed. (2) Overall limitation for unintentional failures \n(A) In general \nIf the person subject to liability for tax under subsection (d) exercised reasonable diligence to meet the requirements of subsection (e) and paragraph (1) is not otherwise applicable, the tax imposed by subsection (a) for failures during the taxable year of the employer (or, in the case of a multiemployer plan, the taxable year of the trust forming part of the plan) shall not exceed $500,000. For purposes of the preceding sentence, all multiemployer plans of which the same trust forms a part shall be treated as 1 plan. (B) Taxable years in the case of certain controlled groups \nFor purposes of this paragraph, if all persons who are treated as a single employer for purposes of this section do not have the same taxable year, the taxable years taken into account shall be determined under principles similar to the principles of section 1561. (3) Waiver by secretary \nIn the case of a failure which is due to reasonable cause and not to willful neglect, the Secretary may waive part or all of the tax imposed by subsection (a) to the extent that the payment of such tax would be excessive or otherwise inequitable relative to the failure involved. (d) Liability for tax \nThe following shall be liable for the tax imposed by subsection (a): (1) In the case of a plan other than a multiemployer plan, the employer. (2) In the case of a multiemployer plan, the plan. (e) Notice of generally accepted investment principles \n(1) In general \nThe plan administrator of an applicable pension plan shall provide notice of generally accepted investment principles, including principles of risk management and diversification, to each applicable individual. (2) Notice \nThe notice required by paragraph (1) shall be written in a manner calculated to be understood by the average plan participant and shall provide sufficient information (as determined in accordance with rules or other guidance adopted by the Secretary) to allow applicable individuals to understand generally accepted investment principles, including principles of risk management and diversification. (3) Timing of notice \nThe notice required by paragraph (1) shall be provided upon enrollment of the applicable individual in such plan and at least once per plan year thereafter. (4) Form and manner of notice \nThe notice required by paragraph (1) shall be in writing, except that such notice may be in electronic or other form to the extent that such form is reasonably accessible to the applicable individual. (f) Definitions and special rules \nFor purposes of this section— (1) Applicable individual \nThe term applicable individual means with respect to an applicable pension plan— (A) any participant in the applicable pension plan, (B) any beneficiary who is an alternate payee (within the meaning of section 414(p)(8)) under an applicable qualified domestic relations order (within the meaning of section 414(p)(1)(A)), and (C) any beneficiary of a deceased participant or alternate payee described in subparagraph (A) or (B), as the case may be, who has an accrued benefit under the plan and who is entitled to direct the investment (or hypothetical investment) of some or all of such accrued benefit. (2) Applicable pension plan \nThe term applicable pension plan means— (A) a plan described in section 219(g)(5)(A) (other than in clause (iii) thereof), and (B) an eligible deferred compensation plan (as defined in section 457(b)) of an eligible employer described in section 457(e)(1)(A), which permits any participant to direct the investment of some or all of his account in the plan or under which the accrued benefit of any participant depends in whole or in part on hypothetical investments directed by the participant.. (b) Clerical amendment \nThe table of sections for chapter 43 of such Code is amended by adding at the end the following new item: Sec. 4980G. Failure of applicable plans to provide notice of generally accepted investment principles. (c) Effective date \n(1) In general \nThe amendments made by this section shall take effect 60 days after the adoption of rules or other guidance to carry out the amendments made by this section, which shall include a model notice of generally accepted investment principles, including principles of risk management and diversification. (2) Model investment principles \nFor purposes of paragraph (1), not later than 120 days after the date of the enactment of this Act, the Secretary of the Treasury, in consultation with the Secretary of Labor, shall issue rules or other guidance and a model notice which meets the requirements of section 4980G of the Internal Revenue Code of 1986 (as added by this section).", "id": "H5F85647FE2944AEA8990964EB4041C91", "header": "Pension benefit information", "nested": [ { "text": "(a) In general \nChapter 43 of the Internal Revenue Code of 1986 (relating to qualified pension, etc., plans) is amended by adding at the end the following new section: 4980G. Failure of applicable plans to provide notice of generally accepted investment principles \n(a) Imposition of tax \nThere is hereby imposed a tax on the failure of any applicable pension plan to meet the requirements of subsection (e) with respect to any applicable individual. (b) Amount of tax \nThe amount of the tax imposed by subsection (a) on any failure with respect to any applicable individual shall be $100 for each day in the noncompliance period with respect to such failure. (c) Limitations on amount of tax \n(1) Tax not to apply to failures corrected within 30 days \nNo tax shall be imposed by subsection (a) on any failure if— (A) any person subject to liability for the tax under subsection (d) exercised reasonable diligence to meet the requirements of subsection (e), and (B) such person provides the notice described in subsection (e) during the 30-day period beginning on the first date such person knew, or exercising reasonable diligence should have known, that such failure existed. (2) Overall limitation for unintentional failures \n(A) In general \nIf the person subject to liability for tax under subsection (d) exercised reasonable diligence to meet the requirements of subsection (e) and paragraph (1) is not otherwise applicable, the tax imposed by subsection (a) for failures during the taxable year of the employer (or, in the case of a multiemployer plan, the taxable year of the trust forming part of the plan) shall not exceed $500,000. For purposes of the preceding sentence, all multiemployer plans of which the same trust forms a part shall be treated as 1 plan. (B) Taxable years in the case of certain controlled groups \nFor purposes of this paragraph, if all persons who are treated as a single employer for purposes of this section do not have the same taxable year, the taxable years taken into account shall be determined under principles similar to the principles of section 1561. (3) Waiver by secretary \nIn the case of a failure which is due to reasonable cause and not to willful neglect, the Secretary may waive part or all of the tax imposed by subsection (a) to the extent that the payment of such tax would be excessive or otherwise inequitable relative to the failure involved. (d) Liability for tax \nThe following shall be liable for the tax imposed by subsection (a): (1) In the case of a plan other than a multiemployer plan, the employer. (2) In the case of a multiemployer plan, the plan. (e) Notice of generally accepted investment principles \n(1) In general \nThe plan administrator of an applicable pension plan shall provide notice of generally accepted investment principles, including principles of risk management and diversification, to each applicable individual. (2) Notice \nThe notice required by paragraph (1) shall be written in a manner calculated to be understood by the average plan participant and shall provide sufficient information (as determined in accordance with rules or other guidance adopted by the Secretary) to allow applicable individuals to understand generally accepted investment principles, including principles of risk management and diversification. (3) Timing of notice \nThe notice required by paragraph (1) shall be provided upon enrollment of the applicable individual in such plan and at least once per plan year thereafter. (4) Form and manner of notice \nThe notice required by paragraph (1) shall be in writing, except that such notice may be in electronic or other form to the extent that such form is reasonably accessible to the applicable individual. (f) Definitions and special rules \nFor purposes of this section— (1) Applicable individual \nThe term applicable individual means with respect to an applicable pension plan— (A) any participant in the applicable pension plan, (B) any beneficiary who is an alternate payee (within the meaning of section 414(p)(8)) under an applicable qualified domestic relations order (within the meaning of section 414(p)(1)(A)), and (C) any beneficiary of a deceased participant or alternate payee described in subparagraph (A) or (B), as the case may be, who has an accrued benefit under the plan and who is entitled to direct the investment (or hypothetical investment) of some or all of such accrued benefit. (2) Applicable pension plan \nThe term applicable pension plan means— (A) a plan described in section 219(g)(5)(A) (other than in clause (iii) thereof), and (B) an eligible deferred compensation plan (as defined in section 457(b)) of an eligible employer described in section 457(e)(1)(A), which permits any participant to direct the investment of some or all of his account in the plan or under which the accrued benefit of any participant depends in whole or in part on hypothetical investments directed by the participant..", "id": "H44EA85B0ECD24BD8004B06FC4FCDAF", "header": "In general", "nested": [], "links": [ { "text": "Chapter 43", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/26/43" } ] }, { "text": "(b) Clerical amendment \nThe table of sections for chapter 43 of such Code is amended by adding at the end the following new item: Sec. 4980G. Failure of applicable plans to provide notice of generally accepted investment principles.", "id": "HECDB91EBC79042019ECAC4D993F9A28B", "header": "Clerical amendment", "nested": [], "links": [] }, { "text": "(c) Effective date \n(1) In general \nThe amendments made by this section shall take effect 60 days after the adoption of rules or other guidance to carry out the amendments made by this section, which shall include a model notice of generally accepted investment principles, including principles of risk management and diversification. (2) Model investment principles \nFor purposes of paragraph (1), not later than 120 days after the date of the enactment of this Act, the Secretary of the Treasury, in consultation with the Secretary of Labor, shall issue rules or other guidance and a model notice which meets the requirements of section 4980G of the Internal Revenue Code of 1986 (as added by this section).", "id": "HF8B4E239F2934017B51B421BC4A3D956", "header": "Effective date", "nested": [], "links": [ { "text": "section 4980G", "legal-doc": "usc", "parsable-cite": "usc/26/4980G" } ] } ], "links": [ { "text": "Chapter 43", "legal-doc": "usc-chapter", "parsable-cite": "usc-chapter/26/43" }, { "text": "section 4980G", "legal-doc": "usc", "parsable-cite": "usc/26/4980G" } ] }, { "text": "4980G. Failure of applicable plans to provide notice of generally accepted investment principles \n(a) Imposition of tax \nThere is hereby imposed a tax on the failure of any applicable pension plan to meet the requirements of subsection (e) with respect to any applicable individual. (b) Amount of tax \nThe amount of the tax imposed by subsection (a) on any failure with respect to any applicable individual shall be $100 for each day in the noncompliance period with respect to such failure. (c) Limitations on amount of tax \n(1) Tax not to apply to failures corrected within 30 days \nNo tax shall be imposed by subsection (a) on any failure if— (A) any person subject to liability for the tax under subsection (d) exercised reasonable diligence to meet the requirements of subsection (e), and (B) such person provides the notice described in subsection (e) during the 30-day period beginning on the first date such person knew, or exercising reasonable diligence should have known, that such failure existed. (2) Overall limitation for unintentional failures \n(A) In general \nIf the person subject to liability for tax under subsection (d) exercised reasonable diligence to meet the requirements of subsection (e) and paragraph (1) is not otherwise applicable, the tax imposed by subsection (a) for failures during the taxable year of the employer (or, in the case of a multiemployer plan, the taxable year of the trust forming part of the plan) shall not exceed $500,000. For purposes of the preceding sentence, all multiemployer plans of which the same trust forms a part shall be treated as 1 plan. (B) Taxable years in the case of certain controlled groups \nFor purposes of this paragraph, if all persons who are treated as a single employer for purposes of this section do not have the same taxable year, the taxable years taken into account shall be determined under principles similar to the principles of section 1561. (3) Waiver by secretary \nIn the case of a failure which is due to reasonable cause and not to willful neglect, the Secretary may waive part or all of the tax imposed by subsection (a) to the extent that the payment of such tax would be excessive or otherwise inequitable relative to the failure involved. (d) Liability for tax \nThe following shall be liable for the tax imposed by subsection (a): (1) In the case of a plan other than a multiemployer plan, the employer. (2) In the case of a multiemployer plan, the plan. (e) Notice of generally accepted investment principles \n(1) In general \nThe plan administrator of an applicable pension plan shall provide notice of generally accepted investment principles, including principles of risk management and diversification, to each applicable individual. (2) Notice \nThe notice required by paragraph (1) shall be written in a manner calculated to be understood by the average plan participant and shall provide sufficient information (as determined in accordance with rules or other guidance adopted by the Secretary) to allow applicable individuals to understand generally accepted investment principles, including principles of risk management and diversification. (3) Timing of notice \nThe notice required by paragraph (1) shall be provided upon enrollment of the applicable individual in such plan and at least once per plan year thereafter. (4) Form and manner of notice \nThe notice required by paragraph (1) shall be in writing, except that such notice may be in electronic or other form to the extent that such form is reasonably accessible to the applicable individual. (f) Definitions and special rules \nFor purposes of this section— (1) Applicable individual \nThe term applicable individual means with respect to an applicable pension plan— (A) any participant in the applicable pension plan, (B) any beneficiary who is an alternate payee (within the meaning of section 414(p)(8)) under an applicable qualified domestic relations order (within the meaning of section 414(p)(1)(A)), and (C) any beneficiary of a deceased participant or alternate payee described in subparagraph (A) or (B), as the case may be, who has an accrued benefit under the plan and who is entitled to direct the investment (or hypothetical investment) of some or all of such accrued benefit. (2) Applicable pension plan \nThe term applicable pension plan means— (A) a plan described in section 219(g)(5)(A) (other than in clause (iii) thereof), and (B) an eligible deferred compensation plan (as defined in section 457(b)) of an eligible employer described in section 457(e)(1)(A), which permits any participant to direct the investment of some or all of his account in the plan or under which the accrued benefit of any participant depends in whole or in part on hypothetical investments directed by the participant.", "id": "H5643C620999F41C9902B20F5A7618736", "header": "Failure of applicable plans to provide notice of generally accepted investment principles", "nested": [ { "text": "(a) Imposition of tax \nThere is hereby imposed a tax on the failure of any applicable pension plan to meet the requirements of subsection (e) with respect to any applicable individual.", "id": "H2ED0EF305A39432BB324CED9500557B0", "header": "Imposition of tax", "nested": [], "links": [] }, { "text": "(b) Amount of tax \nThe amount of the tax imposed by subsection (a) on any failure with respect to any applicable individual shall be $100 for each day in the noncompliance period with respect to such failure.", "id": "HACEECEEC94C34A56BA93EAFC53B4C368", "header": "Amount of tax", "nested": [], "links": [] }, { "text": "(c) Limitations on amount of tax \n(1) Tax not to apply to failures corrected within 30 days \nNo tax shall be imposed by subsection (a) on any failure if— (A) any person subject to liability for the tax under subsection (d) exercised reasonable diligence to meet the requirements of subsection (e), and (B) such person provides the notice described in subsection (e) during the 30-day period beginning on the first date such person knew, or exercising reasonable diligence should have known, that such failure existed. (2) Overall limitation for unintentional failures \n(A) In general \nIf the person subject to liability for tax under subsection (d) exercised reasonable diligence to meet the requirements of subsection (e) and paragraph (1) is not otherwise applicable, the tax imposed by subsection (a) for failures during the taxable year of the employer (or, in the case of a multiemployer plan, the taxable year of the trust forming part of the plan) shall not exceed $500,000. For purposes of the preceding sentence, all multiemployer plans of which the same trust forms a part shall be treated as 1 plan. (B) Taxable years in the case of certain controlled groups \nFor purposes of this paragraph, if all persons who are treated as a single employer for purposes of this section do not have the same taxable year, the taxable years taken into account shall be determined under principles similar to the principles of section 1561. (3) Waiver by secretary \nIn the case of a failure which is due to reasonable cause and not to willful neglect, the Secretary may waive part or all of the tax imposed by subsection (a) to the extent that the payment of such tax would be excessive or otherwise inequitable relative to the failure involved.", "id": "HD899816A007542FE9FE0AD3BE7238B4", "header": "Limitations on amount of tax", "nested": [], "links": [] }, { "text": "(d) Liability for tax \nThe following shall be liable for the tax imposed by subsection (a): (1) In the case of a plan other than a multiemployer plan, the employer. (2) In the case of a multiemployer plan, the plan.", "id": "H8CD6B56409484C95A9407FB82D2EB692", "header": "Liability for tax", "nested": [], "links": [] }, { "text": "(e) Notice of generally accepted investment principles \n(1) In general \nThe plan administrator of an applicable pension plan shall provide notice of generally accepted investment principles, including principles of risk management and diversification, to each applicable individual. (2) Notice \nThe notice required by paragraph (1) shall be written in a manner calculated to be understood by the average plan participant and shall provide sufficient information (as determined in accordance with rules or other guidance adopted by the Secretary) to allow applicable individuals to understand generally accepted investment principles, including principles of risk management and diversification. (3) Timing of notice \nThe notice required by paragraph (1) shall be provided upon enrollment of the applicable individual in such plan and at least once per plan year thereafter. (4) Form and manner of notice \nThe notice required by paragraph (1) shall be in writing, except that such notice may be in electronic or other form to the extent that such form is reasonably accessible to the applicable individual.", "id": "HCA88B75E9BCC46B3A84938CC0514AF07", "header": "Notice of generally accepted investment principles", "nested": [], "links": [] }, { "text": "(f) Definitions and special rules \nFor purposes of this section— (1) Applicable individual \nThe term applicable individual means with respect to an applicable pension plan— (A) any participant in the applicable pension plan, (B) any beneficiary who is an alternate payee (within the meaning of section 414(p)(8)) under an applicable qualified domestic relations order (within the meaning of section 414(p)(1)(A)), and (C) any beneficiary of a deceased participant or alternate payee described in subparagraph (A) or (B), as the case may be, who has an accrued benefit under the plan and who is entitled to direct the investment (or hypothetical investment) of some or all of such accrued benefit. (2) Applicable pension plan \nThe term applicable pension plan means— (A) a plan described in section 219(g)(5)(A) (other than in clause (iii) thereof), and (B) an eligible deferred compensation plan (as defined in section 457(b)) of an eligible employer described in section 457(e)(1)(A), which permits any participant to direct the investment of some or all of his account in the plan or under which the accrued benefit of any participant depends in whole or in part on hypothetical investments directed by the participant.", "id": "H360F761543BA44E1AA505EDBD700CDB5", "header": "Definitions and special rules", "nested": [], "links": [] } ], "links": [] }, { "text": "609. Permanency of transition rule in Retirement Protection Act of 1994 \n(a) Transition rule made permanent \nSection 769(c) of the Retirement Protection Act of 1994 ( 26 U.S.C. 412 note) is amended— (1) in the heading, by striking Transition ; and (2) in paragraph (1), by striking transition and by striking for any plan year beginning after 1996 and before 2010. (b) Special rules \nParagraph (2) of section 769(c) of the Retirement Protection Act of 1994 is amended to read as follows: (2) Special rules \nThe rules described in this paragraph are as follows: (A) For purposes of section 412(l)(9)(A) of the Internal Revenue Code of 1986 and section 302(d)(9)(A) of the Employee Retirement Income Security Act of 1974 , the funded current liability percentage for any plan year shall be treated as not less than 90 percent. (B) For purposes of section 412(m) of the Internal Revenue Code of 1986 and section 302(e) of the Employee Retirement Income Security Act of 1974 , the funded current liability percentage for any plan year shall be treated as not less than 100 percent. (C) For purposes of determining unfunded vested benefits under section 4006(a)(3)(E)(iii) of the Employee Retirement Income Security Act of 1974 , the mortality table shall be the mortality table used by the plan.. (c) Effective date \nThe amendments made by this section shall apply to plan years beginning after December 31, 2004.", "id": "H43E760EA3A9646D3936E80A4154FF300", "header": "Permanency of transition rule in Retirement Protection Act of 1994", "nested": [ { "text": "(a) Transition rule made permanent \nSection 769(c) of the Retirement Protection Act of 1994 ( 26 U.S.C. 412 note) is amended— (1) in the heading, by striking Transition ; and (2) in paragraph (1), by striking transition and by striking for any plan year beginning after 1996 and before 2010.", "id": "H6365121641D347D49B25D9B900F6EE54", "header": "Transition rule made permanent", "nested": [], "links": [ { "text": "26 U.S.C. 412", "legal-doc": "usc", "parsable-cite": "usc/26/412" } ] }, { "text": "(b) Special rules \nParagraph (2) of section 769(c) of the Retirement Protection Act of 1994 is amended to read as follows: (2) Special rules \nThe rules described in this paragraph are as follows: (A) For purposes of section 412(l)(9)(A) of the Internal Revenue Code of 1986 and section 302(d)(9)(A) of the Employee Retirement Income Security Act of 1974 , the funded current liability percentage for any plan year shall be treated as not less than 90 percent. (B) For purposes of section 412(m) of the Internal Revenue Code of 1986 and section 302(e) of the Employee Retirement Income Security Act of 1974 , the funded current liability percentage for any plan year shall be treated as not less than 100 percent. (C) For purposes of determining unfunded vested benefits under section 4006(a)(3)(E)(iii) of the Employee Retirement Income Security Act of 1974 , the mortality table shall be the mortality table used by the plan..", "id": "HF36EF98D366E4C6E86A5BA14D6B2CA78", "header": "Special rules", "nested": [], "links": [ { "text": "section 412(l)(9)(A)", "legal-doc": "usc", "parsable-cite": "usc/26/412" }, { "text": "section 412(m)", "legal-doc": "usc", "parsable-cite": "usc/26/412" } ] }, { "text": "(c) Effective date \nThe amendments made by this section shall apply to plan years beginning after December 31, 2004.", "id": "H5C5D27DC10D0489E9B706F554B133789", "header": "Effective date", "nested": [], "links": [] } ], "links": [ { "text": "26 U.S.C. 412", "legal-doc": "usc", "parsable-cite": "usc/26/412" }, { "text": "section 412(l)(9)(A)", "legal-doc": "usc", "parsable-cite": "usc/26/412" }, { "text": "section 412(m)", "legal-doc": "usc", "parsable-cite": "usc/26/412" } ] }, { "text": "701. General effective date \n(a) In general \nExcept as otherwise provided in this Act, and subject to subsection (b), the amendments made by this Act shall apply with respect to plan years beginning on or after January 1, 2005. (b) Special rule for collectively bargained plans \nIn the case of a plan maintained pursuant to 1 or more collective bargaining agreements between employee representatives and 1 or more employers ratified on or before the date of the enactment of this Act, subsection (a) shall be applied to benefits pursuant to, and individuals covered by, any such agreement by substituting for January 1, 2005 the date of the commencement of the first plan year beginning on or after the earlier of— (1) the later of— (A) January 1, 2006, or (B) the date on which the last of such collective bargaining agreements terminates (determined without regard to any extension thereof after the date of the enactment of this Act), or (2) January 1, 2007.", "id": "H4DF1E24CFB6A47948D3FB0DE08136053", "header": "General effective date", "nested": [ { "text": "(a) In general \nExcept as otherwise provided in this Act, and subject to subsection (b), the amendments made by this Act shall apply with respect to plan years beginning on or after January 1, 2005.", "id": "H9F9A86B8BA5841C695A2CF6180902972", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Special rule for collectively bargained plans \nIn the case of a plan maintained pursuant to 1 or more collective bargaining agreements between employee representatives and 1 or more employers ratified on or before the date of the enactment of this Act, subsection (a) shall be applied to benefits pursuant to, and individuals covered by, any such agreement by substituting for January 1, 2005 the date of the commencement of the first plan year beginning on or after the earlier of— (1) the later of— (A) January 1, 2006, or (B) the date on which the last of such collective bargaining agreements terminates (determined without regard to any extension thereof after the date of the enactment of this Act), or (2) January 1, 2007.", "id": "H4D3B26342D6D441FA408979100D1F5AD", "header": "Special rule for collectively bargained plans", "nested": [], "links": [] } ], "links": [] }, { "text": "702. Plan amendments \nIf any amendment made by this Act requires an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after January 1, 2007, if— (1) during the period after such amendment made by this Act takes effect and before such first plan year, the plan is operated in accordance with the requirements of such amendment made by this Act, and (2) such plan amendment applies retroactively to the period after such amendment made by this Act takes effect and such first plan year.", "id": "H8BDE0C21366748110081A6B6CA1C1E55", "header": "Plan amendments", "nested": [], "links": [] } ]

[ "Accounting", "Administrative procedure", "Administrative remedies", "Annuities", "Bonds", "Brokers", "Business records", "Civil Rights and Liberties, Minority Issues", "Civil service retirement", "Collective bargaining", "Commerce", "Compensation (Law)", "Computer software", "Conflict of interests", "Congress", "Consumer complaints", "Consumer education", "Corporate divestiture", "Defined benefit pension plans", "Defined contribution plans", "Department of Labor", "Department of the Treasury", "Discrimination", "Divorce", "Employee ownership", "Excise tax", "Executive compensation", "Executives", "Families", "Federal preemption", "Fees", "Finance and Financial Sector", "Financial planning", "Financial services", "Financial statements", "Flexible benefit plans", "Government Operations and Politics", "Government paperwork", "Governmental investigations", "Health", "Health insurance", "Household workers", "Income tax", "Individual retirement accounts", "Information disclosure (Securities law)", "Insurance companies", "Insurance premiums", "Interest", "Investment advisers", "Investments", "Labor contracts", "Law", "Layoffs", "Loans", "Local employees", "Married people", "Medical economics", "Payroll deductions", "Pension funds", "Pension trust guaranty insurance", "Railroad retirement plans", "Retirement age", "Risk", "Saving and investment", "Science, Technology, Communications", "Securities", "Separation (Law)", "Small business", "Social Welfare", "State employees", "State laws", "Stocks", "Sunset legislation", "Support of dependents", "Survivors' benefits", "Tax administration", "Tax credits", "Tax deductions", "Tax penalties", "Tax refunds", "Tax-deferred compensation plans", "Taxation", "Trusts and trustees", "Valuation", "Women", "Women's retirement" ]

[ { "text": "1. Short title \nThis Act may be cited as the.", "id": "H0F522E38D311402FBBBF0800D0ADEE99", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Congressional reversal of supreme court judgments \nThe Congress may, if two thirds of each House agree, reverse a judgment of the United States Supreme Court— (1) if that judgment is handed down after the date of the enactment of this Act; and (2) to the extent that judgment concerns the constitutionality of an Act of Congress.", "id": "H246BF1B938B5456BB7A423267E00A493", "header": "Congressional reversal of supreme court judgments", "nested": [], "links": [] }, { "text": "3. Procedure \nThe procedure for reversing a judgment under section 2 shall be, as near as may be and consistent with the authority of each House of Congress to adopt its own rules of proceeding, the same as that used for considering whether or not to override a veto of legislation by the President.", "id": "HA7D7BA2AC0C24870984DFFA36DD2B81", "header": "Procedure", "nested": [], "links": [] }, { "text": "4. Basis for enactment \nThis Act is enacted pursuant to the power of Congress under article III, section 2, of the Constitution of the United States.", "id": "HF9F8CADF03E64D36B52B39F0B293CD31", "header": "Basis for enactment", "nested": [], "links": [] } ]

[ "Congress", "Congressional powers", "Congressional voting", "Congressional-judicial relations", "Constitutional law", "House rules and procedure", "Senate rules and procedure", "Supreme Court decisions" ]

[ { "text": "1. Short title \nThis Act may be cited as the Ballona Bluff Protection Act.", "id": "H81568CA1434F48ED8DF566F189DB06B5", "header": "Short title", "nested": [], "links": [] }, { "text": "2. National park service study regarding ballona bluff in los angeles, california \n(a) Findings \nCongress finds the following: (1) Ballona Bluff is the last undeveloped bluff top of the Ballona Escarpment, a natural formation that stretches approximately 3.5 miles from Santa Monica Bay to the Centinela Pass. (2) Ballona Bluff is the last undeveloped upland habitat of the Ballona wetlands system. (3) Ballona Bluff provides foraging, nesting, and resting habitat for many species of birds and other wildlife. (4) Human occupation of Ballona Bluff began at least 6500 years ago. (5) Ballona Bluff contained a site determined to be eligible for inclusion in the National Register of Historic Places. (6) Human remains and grave-associated artifacts have been discovered on Ballona Bluff. (7) Ballona Bluff possesses commanding views of the Los Angeles Basin from Santa Monica Bay to the San Gabriel Mountains. (8) The public has enjoyed the passive recreational use of Ballona Bluff for half a century. These recreational activities have included hiking, jogging, and viewing wildlife. (b) Definitions \nFor the purposes of this section: (1) Ballona bluff \nThe term Ballona Bluff means the approximately 44 acres of land known by that name and also known as West Bluffs and located west of Lincoln Boulevard between Marina del Rey and Los Angeles International Airport in Los Angeles, California. (2) Secretary \nThe term Secretary means the Secretary of the Interior, acting through the Director of the National Park Service. (c) Study \nThe Secretary shall, in consultation with the State of California— (1) carry out a study regarding the suitability and feasibility of designating Ballona Bluff as a unit of the National Park System; and (2) consider management alternatives for Ballona Bluff. (d) Study process and completion \nExcept as provided by subsection (e) of this section, section 8(c) of Public Law 91–383 ( 16 U.S.C. 1a–5(c) ) shall apply to the conduct and completion of the study required by this section. (e) Submission of study results \nNot later than 1 year after the date of the enactment of this section, the Secretary shall submit to the Committee on Resources of the House of Representatives and the Committee on Energy and Natural Resources of the Senate a report describing the results of the study.", "id": "HB82A068563B44116A749F02987077D00", "header": "National park service study regarding ballona bluff in los angeles, california", "nested": [ { "text": "(a) Findings \nCongress finds the following: (1) Ballona Bluff is the last undeveloped bluff top of the Ballona Escarpment, a natural formation that stretches approximately 3.5 miles from Santa Monica Bay to the Centinela Pass. (2) Ballona Bluff is the last undeveloped upland habitat of the Ballona wetlands system. (3) Ballona Bluff provides foraging, nesting, and resting habitat for many species of birds and other wildlife. (4) Human occupation of Ballona Bluff began at least 6500 years ago. (5) Ballona Bluff contained a site determined to be eligible for inclusion in the National Register of Historic Places. (6) Human remains and grave-associated artifacts have been discovered on Ballona Bluff. (7) Ballona Bluff possesses commanding views of the Los Angeles Basin from Santa Monica Bay to the San Gabriel Mountains. (8) The public has enjoyed the passive recreational use of Ballona Bluff for half a century. These recreational activities have included hiking, jogging, and viewing wildlife.", "id": "HB92983F663F9492F997300934BA52191", "header": "Findings", "nested": [], "links": [] }, { "text": "(b) Definitions \nFor the purposes of this section: (1) Ballona bluff \nThe term Ballona Bluff means the approximately 44 acres of land known by that name and also known as West Bluffs and located west of Lincoln Boulevard between Marina del Rey and Los Angeles International Airport in Los Angeles, California. (2) Secretary \nThe term Secretary means the Secretary of the Interior, acting through the Director of the National Park Service.", "id": "H919A92BBBE49479C84F08D7020D4BC30", "header": "Definitions", "nested": [], "links": [] }, { "text": "(c) Study \nThe Secretary shall, in consultation with the State of California— (1) carry out a study regarding the suitability and feasibility of designating Ballona Bluff as a unit of the National Park System; and (2) consider management alternatives for Ballona Bluff.", "id": "H1AF205ADD5144430B7ACC09E5B6C3F43", "header": "Study", "nested": [], "links": [] }, { "text": "(d) Study process and completion \nExcept as provided by subsection (e) of this section, section 8(c) of Public Law 91–383 ( 16 U.S.C. 1a–5(c) ) shall apply to the conduct and completion of the study required by this section.", "id": "H8478DA356C7841EC9CED9C05A69277E5", "header": "Study process and completion", "nested": [], "links": [ { "text": "Public Law 91–383", "legal-doc": "public-law", "parsable-cite": "pl/91/383" }, { "text": "16 U.S.C. 1a–5(c)", "legal-doc": "usc", "parsable-cite": "usc/16/1a" } ] }, { "text": "(e) Submission of study results \nNot later than 1 year after the date of the enactment of this section, the Secretary shall submit to the Committee on Resources of the House of Representatives and the Committee on Energy and Natural Resources of the Senate a report describing the results of the study.", "id": "H95F7CB04EEF84859B0F0886979A03138", "header": "Submission of study results", "nested": [], "links": [] } ], "links": [ { "text": "Public Law 91–383", "legal-doc": "public-law", "parsable-cite": "pl/91/383" }, { "text": "16 U.S.C. 1a–5(c)", "legal-doc": "usc", "parsable-cite": "usc/16/1a" } ] } ]

[ "Animals", "California", "Coastal zone", "Commemorations", "Congress", "Congressional reporting requirements", "Governmental investigations", "Habitat conservation", "Historic sites", "History", "Marine and coastal resources, fisheries", "National parks", "Outdoor recreation", "Sports and Recreation", "Water Resources Development", "Wetlands" ]

[ { "text": "1. Short title \nThis Act may be cited as the Domestic Violence Connections Campaign Act of 2004.", "id": "HF4EEB77047D54B92AA1029B637BFCFB2", "header": "Short title", "nested": [], "links": [] }, { "text": "2. Findings \nCongress finds the following: (1) More than 500 men and women call the National Domestic Violence Hotline every day to get immediate, informed, and confidential assistance to help deal with family violence. (2) The National Domestic Violence Hotline service is available, toll-free, 24 hours a day and 7 days a week, with bilingual staff, access to translators in 150 languages, and a TTY line for the hearing-impaired. (3) With access to over 5,000 shelters and service providers in the United States, Puerto Rico, and the United States Virgin Islands, the National Domestic Violence Hotline provides crisis intervention and immediately connects callers with sources of help in their local community. (4) The National Domestic Violence Hotline, which was created by the Violence Against Women Act and is located in Austin, Texas, answered its first call on February 21, 1996, and answered its one millionth call on August 4, 2003. (5) Approximately 60 percent of the callers indicate that calling the Hotline is their first attempt to address a domestic violence situation and that they have not called the police or any other support services. (6) Between 2000 and 2003, there was a 27 percent increase in call volume. (7) Due to high call volume and limited resources, approximately 26,000 calls to the Hotline went unanswered in 2002 due to long hold times or busy signals. (8) Widespread demand for the Hotline service continues. The Department of Justice reported that over 18,000 acts of violence were committed by intimate partners in the United States each day during 2001. An average of 3 women are murdered every day in the Nation by their husbands or boyfriends. (9) Working with outdated telephone and computer equipment creates many challenges for the National Domestic Violence Hotline. (10) Improving technology infrastructure at the National Domestic Violence Hotline and training advocates, volunteers, and other staff on upgraded technology will drastically increase the Hotline’s ability to answer more calls quickly and effectively. (11) Partnerships between the public sector and the private sector are an effective way of providing necessary technology improvements to the National Domestic Violence Hotline. (12) The Connections Campaign is a project that unites nonprofit organizations, major corporations, and Federal agencies to launch a major new initiative to help ensure that the National Domestic Violence Hotline can answer every call with upgraded, proficient, and sophisticated technology tools.", "id": "HEF742A46499D405198BD0000B12E59BA", "header": "Findings", "nested": [], "links": [] }, { "text": "3. Technology grant to national domestic violence hotline \n(a) In general \nThe Attorney General, in consultation with the Secretary of Health and Human Services, shall award a grant to the National Domestic Violence Hotline. (b) Use of funds \nThe grant awarded under subsection (a) shall be used to provide technology and telecommunication training and assistance for advocates, volunteers, staff, and others affiliated with the Hotline so that such persons are able to effectively use improved equipment made available through the Connections Campaign.", "id": "H0E9A51E2A81D4A368D54D5C26C691F80", "header": "Technology grant to national domestic violence hotline", "nested": [ { "text": "(a) In general \nThe Attorney General, in consultation with the Secretary of Health and Human Services, shall award a grant to the National Domestic Violence Hotline.", "id": "H2E0FC52676104C6A99006254DF111169", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Use of funds \nThe grant awarded under subsection (a) shall be used to provide technology and telecommunication training and assistance for advocates, volunteers, staff, and others affiliated with the Hotline so that such persons are able to effectively use improved equipment made available through the Connections Campaign.", "id": "HA481960B039749CF973D1300B9AB98F3", "header": "Use of funds", "nested": [], "links": [] } ], "links": [] }, { "text": "4. Research grant to study national domestic violence hotline \n(a) Grant authorized \nNot later than 6 months after the date of enactment of this Act, the Attorney General, in consultation with the Secretary of Health and Human Services and the National Domestic Violence Hotline, shall award a grant to a university or other research institution with demonstrated experience and expertise with domestic violence issues to conduct a study of the National Domestic Violence Hotline for the purpose of conducting the research described under subsection (c), and for the input, interpretation, and dissemination of research data. (b) Application \nEach university or research institution desiring to receive a grant under this section shall submit an application to the Attorney General, at such time, in such manner, and accompanied by such additional information as the Attorney General, in consultation with the Secretary of Health and Human Services and the National Domestic Violence Hotline, may reasonably require. (c) Issues to be studied \nThe study described in subsection (a) shall— (1) compile statistical and substantive information about calls received by the Hotline since its inception, or a representative sample of such calls, while maintaining the confidentiality of Hotline callers; (2) interpret the data compiled under paragraph (1)— (A) to determine the trends, gaps in services, and geographical areas of need; and (B) to assess the trends and gaps in services to underserved communities and the military community; and (3) gather other important information about domestic violence. (d) Report \nNot later than 3 years after the date of enactment of this Act, the grantee conducting the study under this section shall submit a report on the results of such study to Congress and the Attorney General.", "id": "H85CEA4F1DC52458DA8AA92997E5FB812", "header": "Research grant to study national domestic violence hotline", "nested": [ { "text": "(a) Grant authorized \nNot later than 6 months after the date of enactment of this Act, the Attorney General, in consultation with the Secretary of Health and Human Services and the National Domestic Violence Hotline, shall award a grant to a university or other research institution with demonstrated experience and expertise with domestic violence issues to conduct a study of the National Domestic Violence Hotline for the purpose of conducting the research described under subsection (c), and for the input, interpretation, and dissemination of research data.", "id": "H25C417DA4243401B93068FC106B400ED", "header": "Grant authorized", "nested": [], "links": [] }, { "text": "(b) Application \nEach university or research institution desiring to receive a grant under this section shall submit an application to the Attorney General, at such time, in such manner, and accompanied by such additional information as the Attorney General, in consultation with the Secretary of Health and Human Services and the National Domestic Violence Hotline, may reasonably require.", "id": "H08113CCA8A95491C93D5B400AD385DF1", "header": "Application", "nested": [], "links": [] }, { "text": "(c) Issues to be studied \nThe study described in subsection (a) shall— (1) compile statistical and substantive information about calls received by the Hotline since its inception, or a representative sample of such calls, while maintaining the confidentiality of Hotline callers; (2) interpret the data compiled under paragraph (1)— (A) to determine the trends, gaps in services, and geographical areas of need; and (B) to assess the trends and gaps in services to underserved communities and the military community; and (3) gather other important information about domestic violence.", "id": "H517199365BEA4EFB0055C25074C569F1", "header": "Issues to be studied", "nested": [], "links": [] }, { "text": "(d) Report \nNot later than 3 years after the date of enactment of this Act, the grantee conducting the study under this section shall submit a report on the results of such study to Congress and the Attorney General.", "id": "HBD444F912C0D498189D11E506057DDE6", "header": "Report", "nested": [], "links": [] } ], "links": [] }, { "text": "5. Grant to raise public awareness of domestic violence issues \n(a) Grant authorized \nNot later than 6 months after the submission of the report required under section 4(d), the Attorney General, in consultation with the Secretary of Health and Human Services and the National Domestic Violence Hotline, shall award a grant to an experienced organization to conduct a public awareness campaign to increase the public’s understanding of domestic violence issues and awareness of the National Domestic Violence Hotline. (b) Application \nEach organization desiring to receive a grant under this section shall submit an application to the Attorney General, at such time, in such manner, and accompanied by such additional information as the Attorney General, in consultation with the Secretary of Health and Human Services and the National Domestic Violence Hotline, may reasonably require.", "id": "H05045302DCEA4BE29F655E39DF82AF44", "header": "Grant to raise public awareness of domestic violence issues", "nested": [ { "text": "(a) Grant authorized \nNot later than 6 months after the submission of the report required under section 4(d), the Attorney General, in consultation with the Secretary of Health and Human Services and the National Domestic Violence Hotline, shall award a grant to an experienced organization to conduct a public awareness campaign to increase the public’s understanding of domestic violence issues and awareness of the National Domestic Violence Hotline.", "id": "HA593D169E2234F2FB7F124FF21CF4027", "header": "Grant authorized", "nested": [], "links": [] }, { "text": "(b) Application \nEach organization desiring to receive a grant under this section shall submit an application to the Attorney General, at such time, in such manner, and accompanied by such additional information as the Attorney General, in consultation with the Secretary of Health and Human Services and the National Domestic Violence Hotline, may reasonably require.", "id": "HC88A3E6856644A76BC8DE8211B33AAE9", "header": "Application", "nested": [], "links": [] } ], "links": [] }, { "text": "6. Authorization of appropriations \n(a) In general \nThere are authorized to be appropriated, for each of the fiscal years 2005 and 2006— (1) $500,000 to carry out section 3; (2) $250,000 to carry out section 4; and (3) $800,000 to carry out section 5. (b) Availability \nAny amounts appropriated pursuant to the authority of subsection (a) shall remain available until expended. (c) Nonexclusivity \nNothing in this section shall be construed to limit or restrict the National Domestic Violence Hotline to apply for and obtain Federal funding from any other agency or department or any other Federal grant program. (d) No condition on appropriations \nAmounts appropriated pursuant to subsection (a) shall not be considered amounts appropriated for purposes of the conditions imposed under section 316(g)(2) of the Family Violence Prevention and Services Act ( 42 U.S.C. 10416(g)(2) ).", "id": "H327A21ABDE514A5EAEA9F6E3BFB1A602", "header": "Authorization of appropriations", "nested": [ { "text": "(a) In general \nThere are authorized to be appropriated, for each of the fiscal years 2005 and 2006— (1) $500,000 to carry out section 3; (2) $250,000 to carry out section 4; and (3) $800,000 to carry out section 5.", "id": "H79488BE21EF643279EC870D265BEFABA", "header": "In general", "nested": [], "links": [] }, { "text": "(b) Availability \nAny amounts appropriated pursuant to the authority of subsection (a) shall remain available until expended.", "id": "H2F510312B5F14A35B6C9BD5FAE1486F", "header": "Availability", "nested": [], "links": [] }, { "text": "(c) Nonexclusivity \nNothing in this section shall be construed to limit or restrict the National Domestic Violence Hotline to apply for and obtain Federal funding from any other agency or department or any other Federal grant program.", "id": "HEA6AA73FD87F43959C11298B946C2ECF", "header": "Nonexclusivity", "nested": [], "links": [] }, { "text": "(d) No condition on appropriations \nAmounts appropriated pursuant to subsection (a) shall not be considered amounts appropriated for purposes of the conditions imposed under section 316(g)(2) of the Family Violence Prevention and Services Act ( 42 U.S.C. 10416(g)(2) ).", "id": "H6CE63217F2B84C3290E375B748C0E49B", "header": "No condition on appropriations", "nested": [], "links": [ { "text": "42 U.S.C. 10416(g)(2)", "legal-doc": "usc", "parsable-cite": "usc/42/10416" } ] } ], "links": [ { "text": "42 U.S.C. 10416(g)(2)", "legal-doc": "usc", "parsable-cite": "usc/42/10416" } ] } ]

[ "Armed Forces and National Security", "Commerce", "Computer literacy", "Congress", "Congressional reporting requirements", "Crime and Law Enforcement", "Data banks", "Economics and Public Finance", "Electronic government information", "Employee training", "Evaluation research (Social action programs)", "Family violence", "Federal aid to research", "Government Operations and Politics", "Government publicity", "Grants-in-aid", "Information services", "Labor and Employment", "Military dependents", "Military personnel", "Public service advertising", "Public-private partnerships", "Science, Technology, Communications", "Social Welfare", "Statistics", "Telephone", "Victims of crimes", "Volunteer workers", "Wife abuse", "Women" ]