In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.

Input: Consider Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``National Institute on Minority 
Health Act''.

SEC. 2. FINDINGS.

The Congress finds that--
            (1) heart disease and strokes lead to about 2\1/2\ times as 
        many deaths among Black Americans (between the ages of 25 and 
        44) as among White Americans;
            (2) diabetes is twice as prevalent among Mexican- and 
        Puerto Rican-Americans as among White Americans;
            (3) Black and Hispanic women account for 73 percent of the 
        reported cases of AIDS among American women, and the death rate 
        from AIDS is 9 times higher among Black women than among White 
        women;
            (4) between 1983 and 1985, when the infant mortality rate 
        among Whites was 9.0 deaths per 1,000 live births, the infant 
        mortality rate among Blacks was 18.7 and 13.9 among Native 
        Americans, with similar disparities among rates of low-
        birthweight babies;
            (5) in 1988, when the rates of death resulting from 
        homicides was 8 per 100,000 among young (ages 15 to 24) White 
        males, the rate among young Black males was 59 per 100,000, and 
        the rates for young Hispanic and Native American males was 
        roughly 2 to 3 times that of young White males;
            (6) biomedical research, including clinical trials for 
        pharmaceuticals, often has failed to include minorities in the 
        population being studied or tested, even when it is certain 
        that minorities will be among the population subject to the 
        medical condition or receiving the treatment or pharmaceutical 
        that is being studied or tested;
            (7) the percentages of medical professionals, especially 
        physicians, who are minorities are significantly lower than 
        their representation in the general population; and
            (8) the ratio of physicians to inhabitants of neighborhoods 
        that are heavily populated by minorities (or low-income 
        residents) is often much lower than the ratio of physicians to 
        inhabitants of predominantly White neighborhoods.

SEC. 3. ESTABLISHMENT OF NATIONAL INSTITUTE ON MINORITY HEALTH.

    Part C of title IV of the Public Health Service Act (42 U.S.C. 285 
et seq.), as amended by section 124 of Public Law 102-321 (106 Stat. 
364), is amended by adding at the end the following subpart:

          ``Subpart 17--National Institute on Minority Health

                         ``purpose of institute

    ``Sec. 464V. (a) The general purpose of the National Institute on 
Minority Health is the conduct and support of research, training, the 
dissemination of health information, and other programs with respect to 
minority health conditions, including the advancement of opportunities 
for and recruitment of minorities for training and placement as health 
professionals.
    ``(b) For purposes of this subpart:
            ``(1) The term `health care system' means the system in the 
        United States for the delivery of health care.
            ``(2) The term `minorities' means members of minority 
        groups.
            ``(3) The term `minority health conditions' means all 
        diseases, disorders, and conditions (including conditions 
        regarding mental health)--
                    ``(A) unique to, more serious in, or more prevalent 
                in minorities;
                    ``(B) for which the factors of medical risk or 
                types of medical intervention are different for 
                minorities, or for which it is unknown whether such 
                factors or types are different for minorities; or
                    ``(C) with respect to which there has been 
                insufficient clinical research involving minorities as 
                subjects, or insufficient clinical data on minorities.
            ``(4) The term `research on minority health' means research 
        on minority health conditions.
            ``(5) The term `Institute' means the National Institute on 
        Minority Health.

                         ``certain authorities

    ``Sec. 464W. (a) In carrying out section 464V, the Director of the 
Institute shall--
            ``(1) recommend an agenda for conducting and supporting 
        research on minority health;
            ``(2) identify projects of research on minority health that 
        should be conducted or supported by the national research 
        institutes;
            ``(3) identify multidisciplinary research relating to 
        research on minority health that should be so conducted or 
        supported;
            ``(4) promote coordination and collaboration among entities 
        conducting research identified under paragraph (2) or (3);
            ``(5) encourage the conduct of research identified under 
        paragraph (2) or (3) by entities receiving funds from the 
        national research institutes;
            ``(6) ensure that minorities are appropriately represented 
        as subjects in projects of clinical research conducted or 
        supported by the national research institutes and, as 
        appropriate, encourage similar representation in research 
        conducted under other circumstances; and
            ``(7) promote the sufficient allocation of the resources of 
        the national research institutes for conducting and supporting 
        such research.
    ``(b)(1) The Director of the Institute shall monitor the health 
care system for the purpose of determining the effects of the system on 
the health of minorities, including the extent to which minorities have 
access to health care. In monitoring the system, the Director shall 
determine, with respect to such purpose, the effects of the policies 
and practices of entities that provide health benefits plans.
    ``(2) With respect to Federal proposals for reforming the health 
care system, the Director of the Institute shall, in carrying out 
paragraph (1), monitor such proposals for the purpose of determining 
whether the proposals adequately provide for the health of minorities.
    ``(c)(1) The Director of the Institute shall serve as an advocate 
regarding the health of minorities. The Director may in so serving 
carry out advocacy activities regarding the Federal Government, State 
and local governments, and private entities, including public and 
private educational entities.
    ``(2) In carrying out paragraph (1), the Director of the Institute 
shall determine the health benefits for minorities that should, at a 
minimum, be provided for in any reform of the health care system.
    ``(d) The Director of the Institute shall encourage the creation of 
opportunities for the training of minorities as health professionals 
and shall facilitate the placement of minorities trained as health 
professionals into appropriate positions.''.

SEC. 4. CONFORMING AMENDMENT.

    Section 401(b)(1) of the Public Health Service Act (42 U.S.C. 
281(b)(1)), as amended by section 121 of Public Law 102-321 (106 Stat. 
358), is amended by adding at the end the following subparagraph:
            ``(Q) The National Institute on Minority Health.''.

Output: National Institute on Minority Health Act - Amends the Public Health Service Act to declare that the National Institute on Minority Health's purpose is the conduct and support of research, training, information dissemination, and other programs regarding minority health, including the advancement of opportunities for and recruitment of minorities for training and placement as health professionals.  Adds the Institute to the list of research institutes of the National Institutes of Health.


Input: Consider Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Saffron Revolution Support Act of 
2007''.

SEC. 2. FINDINGS.

    Congress makes the following findings:
            (1) Beginning on August 19, 2007, hundreds of thousands of 
        citizens of Burma, including thousands of Buddhist monks and 
        students, participated in peaceful demonstrations against 
        rapidly deteriorating living conditions and the violent and 
        repressive policies of the State Peace and Development Council 
        (SPDC), the ruling military junta in Burma, to--
                    (A) demand the release of all political prisoners, 
                including Nobel Peace Prize laureate Aung San Suu Kyi; 
                and
                    (B) urge the SPDC to engage in meaningful dialogue 
                to pursue national reconciliation.
            (2) The SPDC, in a display of brutal barbarism, violently 
        confronted unarmed demonstrators, killing, injuring, and 
        imprisoning citizens, including several thousand Buddhist 
        monks, and continued to forcefully restrict peaceful forms of 
        public expression.
            (3) The Department of State's 2006 Reports on Human Rights 
        Practices found that the SPDC--
                    (A) routinely restricts freedoms of speech, press, 
                assembly, association, religion, and movement;
                    (B) traffics in persons;
                    (C) discriminates against women and ethnic 
                minorities;
                    (D) forcibly recruits child soldiers and child 
                labor; and
                    (E) commits other serious violations of human 
                rights, including extrajudicial killings, custodial 
                deaths, disappearances, rape, torture, abuse of 
                prisoners and detainees, and the imprisonment of 
                citizens arbitrarily for political motives.
            (4) Aung San Suu Kyi has been arbitrarily imprisoned or 
        held under house arrest for more than 12 years.
            (5) The President announced on September 25, 2007, that the 
        United States would tighten economic sanctions against Burma, 
        and block property and interests in property of certain senior 
        leaders of the SPDC, individuals who provide financial backing 
        for the SPDC, and individuals responsible for violations of 
        human rights and for impeding the transition to democracy in 
        Burma.
            (6) The President also announced on September 25, 2007, 
        that the United States would impose an expanded visa ban on 
        individuals--
                    (A) responsible for violations of human rights; and
                    (B) who aid, abet, or benefit from the SPDC's 
                efforts to impede the efforts of the people of Burma to 
                transition to democracy and ensure respect for human 
                dignity.
            (7) The Total Oil Corporation of France and the Chevron 
        Corporation of the United States own a significant stake in 
        Burma's Yadana natural gas field and pipeline and generate 
        millions of dollars in revenue that help the repressive junta 
        government maintain its grasp on power.
            (8) Burma is home to approximately 60 percent of the 
        world's native teak reserves. More than one quarter of the 
        world's internationally traded teak originates from Burma, and 
        hardwood sales, mainly of teak, represent more than 11 percent 
        of Burma's official foreign exchange earnings.
            (9) Burma officially exports tens of millions of dollars 
        worth of rubies, sapphires, pearls, jade, and other precious 
        stones each year and the SPDC owns a majority stake in all 
        mining operations within the borders of Burma.
            (10) On October 11, 2007, the United Nations Security 
        Council, with the consent of China, issued a statement 
        condemning the violence in Burma, urging the release of all 
        political prisoners, and calling on the SPDC to enter into a 
        United Nations-mediated dialogue with its political opposition.
            (11) The leaders of the SPDC will have a greater incentive 
        to cooperate with diplomatic efforts by the United Nations, the 
        Association of Southeast Asian Nations, and China if they come 
        under targeted economic pressure that denies them access to 
        personal wealth and sources of revenue.

SEC. 3. DEFINITIONS.

    In this Act:
            (1) Account; correspondent account; payable-through 
        account.--The terms ``account'', ``correspondent account'', and 
        ``payable-through account'' have the meanings given the terms 
        in section 5318A(e)(1) of title 31, United States Code.
            (2) Appropriate congressional committees.--The term 
        ``appropriate congressional committees'' means the Committee on 
        Foreign Relations of the Senate and the Committee on Foreign 
        Affairs of the House of Representatives.
            (3) Person.--The term ``person'' means--
                    (A) an individual, corporation, company, business 
                association, partnership, society, trust, any other 
                nongovernmental entity, organization, or group; and
                    (B) any successor, subunit, or subsidiary of any 
                person described in subparagraph (A).
            (4) SPDC.--The term ``SPDC'' means the State Peace and 
        Development Council.
            (5) United states person.--The term ``United States 
        person'' means--
                    (A) an individual who is a citizen of the United 
                States or who owes permanent allegiance to the United 
                States; and
                    (B) a person that is organized under the laws of 
                the United States, any State or territory thereof, or 
                the District of Columbia, if individuals described in 
                subparagraph (A) own, directly or indirectly, more than 
                50 percent of the outstanding capital stock or other 
                beneficial interest in such entity.

SEC. 4. STATEMENT OF POLICY.

    It is the policy of the United States to--
            (1) condemn the continued repression carried out by the 
        SPDC;
            (2) support the legitimate democratic aspirations of the 
        people of Burma;
            (3) provide all appropriate support and assistance to aid a 
        transition to democracy in Burma; and
            (4) hold accountable individuals responsible for the 
        repression of peaceful political activity in Burma.

SEC. 5. SANCTIONS.

    (a) List of Officials of the SPDC.--
            (1) In general.--Not later than 30 days after the date of 
        the enactment of this Act, the President shall submit to the 
        appropriate congressional committees a list of--
                    (A) officials of the SPDC who play or have played a 
                direct and substantial role in the repression of 
                peaceful political activity in Burma or in the 
                commission of other human rights abuses, including any 
                current or former officials of the security services 
                and judicial institutions of the SPDC; and
                    (B) any other Burmese persons who provide 
                substantial economic and political support for the 
                SPDC.
            (2) Updates.--The President shall regularly update and 
        submit the list required by paragraph (1).
    (b) Sanctions.--
            (1) Visa ban.--A person included on the list required under 
        subsection (a) shall be ineligible for a visa to enter the 
        United States.
            (2) Financial sanctions.--
                    (A) Blocked property.--No property or interest in 
                property belonging to a person described in 
                subparagraph (C) may be transferred, paid, exported, 
                withdrawn, or otherwise dealt with, if--
                            (i) the property is located in the United 
                        States or within the possession or control of a 
                        United States person, including the overseas 
                        branch of a United States person; or
                            (ii) after the date of the enactment of 
                        this Act, the property comes within the 
                        possession or control of a United States 
                        person.
                    (B) Financial transactions.--No United States 
                person may engage in a financial transaction with a 
                person described in subparagraph (C).
                    (C) Person described.--A person described in this 
                subparagraph is one of the following:
                            (i) The SPDC.
                            (ii) A person included on the list required 
                        under subsection (a).
                            (iii) An immediate family member of a 
                        person included on the list required under 
                        subsection (a), if the President determines 
                        that the person included on the list--
                                    (I) for purposes of subparagraph 
                                (A), effectively controls the property; 
                                or
                                    (II) for purposes of subparagraph 
                                (B), would benefit from a financial 
                                transaction.
    (c) Authority for Additional Banking Sanctions.--
            (1) In general.--The Secretary of the Treasury may, in 
        consultation with the Secretary of State, the Attorney General 
        of the United States, and the Chairman of the Board of 
        Governors of the Federal Reserve System, prohibit or impose 
        conditions on the opening or maintaining in the United States 
        of a correspondent account or payable-through account by any 
        financial institution (as that term is defined in section 5312 
        of title 31, United States Code) or financial agency that is 
        organized under the laws of a State, territory, or possession 
        of the United States, for or on behalf of a foreign banking 
        institution, if the Secretary determines that the account might 
        be used--
                    (A) by a foreign banking institution that holds 
                property or an interest in property belonging to a 
                person on the list required under subsection (a); or
                    (B) to conduct a transaction on behalf of a person 
                on the list required under subsection (a).
            (2) Authority to define terms.--The Secretary of the 
        Treasury may, by regulation, further define the terms used in 
        paragraph (1) for purposes of this section, as the Secretary 
        deems appropriate.
    (d) Termination of Sanctions.--The sanctions imposed under 
subsection (b) or (c) shall apply until the President determines and 
certifies to the appropriate congressional committees that the SPDC 
has--
            (1) unconditionally released all political prisoners, 
        including Aung San Suu Kyi and other members of the National 
        League for Democracy;
            (2) entered into a substantive dialogue with democratic 
        forces led by the National League for Democracy and the ethnic 
        minorities of Burma on transitioning to democratic government 
        under the rule of law; and
            (3) allowed humanitarian access to populations affected by 
        armed conflict in all regions of Burma.
    (e) Authorization of Appropriations.--There are authorized to be 
appropriated such sums as may be necessary to carry out this section.

SEC. 6. PROHIBITION ON IMPORTATION OF BURMESE GEMS, HARDWOODS, AND 
              OTHER ITEMS.

    Section 3(a)(1) of the Burmese Freedom and Democracy Act of 2003 
(50 U.S.C. 1701 note) is amended by striking ``a product of Burma.'' 
and inserting ``produced, mined, manufactured, grown, or assembled in 
Burma, including--
                    ``(A) any gemstone or rough unfinished geological 
                material mined or extracted from Burma, whether 
                imported as a loose item or as a component of a 
                finished piece of jewelry; and
                    ``(B) any teak or other hardwood timber, regardless 
                of the country in which such hardwood timber is milled, 
                sawn, or otherwise processed, whether imported in 
                unprocessed form or as a part or component of finished 
                furniture or another wood item.''.

SEC. 7. PROHIBITION ON INVESTMENT BY UNITED STATES PERSONS IN BURMA.

    (a) In General.--Notwithstanding any other provision of law, no 
United States person may invest in Burma.
    (b) Applicability.--The prohibition on investment under subsection 
(a) includes a prohibition on--
            (1) investments in Burma based on investment agreements 
        reached prior to May 20, 1997;
            (2) approval or other facilitation by a United States 
        person of an investment by a foreign person if the investment 
        would violate the prohibition in subsection (a) if made by a 
        United States person; and
            (3) payments to the SPDC by a United States person related 
        to divesting assets in Burma to comply with subsection (a).
    (c) Penalties.--The Secretary of the Treasury may impose a penalty 
under section 206 of the International Emergency Economic Powers Act 
(50 U.S.C. 1705) on a United States person that violates the 
prohibition under subsection (a).

SEC. 8. GRANTS TO ESTABLISH DATABASE OF HUMAN RIGHTS ABUSES.

    The Secretary of State may award grants to nongovernmental 
organizations, universities, and other organizations to establish a 
searchable Internet database that contains evidence of human rights 
abuses carried out by the SPDC or persons associated with the SPDC.

SEC. 9. SUPPORT FOR DEMOCRACY IN BURMA.

    (a) In General.--The President is authorized to use all available 
resources to assist Burmese democracy activists who are dedicated to 
nonviolent opposition to the SPDC in their efforts to promote freedom, 
democracy, and human rights in Burma.
    (b) Authorization of Appropriations.--There are authorized to be 
appropriated $20,000,000 to the Secretary of State for each of the 
fiscal years 2008 and 2009 for the following purposes:
            (1) Aid to democracy activists in Burma.
            (2) Aid to individuals and groups conducting democracy 
        programming outside of Burma targeted at a transition to 
        democracy inside Burma.
            (3) The expansion of radio and television broadcasting into 
        Burma.
            (4) Support for individuals and groups compiling evidence 
        of--
                    (A) the SPDC's efforts to repress peaceful 
                political activity; and
                    (B) the commission of other human rights abuses by 
                the SPDC.

SEC. 10. SENSE OF CONGRESS ON USE OF INTELLIGENCE ASSETS.

    It is the sense of Congress that the Director of National 
Intelligence should utilize appropriate intelligence resources to 
identify persons responsible for--
            (1) the crackdown sponsored by the SPDC against peaceful 
        protestors that began August 19, 2007; and
            (2) ongoing gross abuses of human rights against civilians 
        in Burma.

SEC. 11. REPORT ON MILITARY AID TO BURMA.

    (a) In General.--Not later than 180 days after the date of the 
enactment of this Act, the Secretary of State shall submit to the 
appropriate congressional committees a report containing a list of 
countries that provide military aid to Burma and describing the 
military aid provided by each such country.
    (b) Military Aid Defined.--For the purposes of this section, the 
term ``military aid'' includes--
            (1) the provision of weapons, military vehicles, and 
        military aircraft;
            (2) the provision of military training; and
            (3) conducting joint military exercises.
    (c) Form.--The report required by subsection (a) shall be submitted 
in unclassified form but may include a classified annex.

Output: Saffron Revolution Support Act of 2007 - States that it is U.S. policy to: (1) support the democratic aspirations of Burma's people; (2) condemn the repression carried out by the State Peace and Development Council (SPDC); and (3) hold accountable individuals responsible for the repression of peaceful political activity in Burma.

Directs the President to submit to the appropriate congressional committees a list of: (1) SPDC officials who play or have played a substantial role in political repression in Burma or in the commission of human rights abuses; and (2) other Burmese SPDC supporters.

Subjects persons so identified to U.S. entry prohibition and financial sanctions (blocked property, financial transaction prohibitions, and banking sanctions). Terminates such prohibitions upon a presidential certification to the committees that the SPDC has: (1) released all political prisoners, including Aung San Suu Kyi and other members of the National League for Democracy; (2) entered into a dialogue with democratic forces led by the National League for Democracy and the ethnic minorities of Burma on transitioning to democratic government; and (3) allowed humanitarian access to populations affected by armed conflict in all regions of Burma.

Amends the the Burmese Freedom and Democracy Act of 2003 to prohibit the importation into the United States of Burmese gems, teak, or other hardwood timber.

Prohibits any U.S. person (as defined by this Act) from investing in Burma.

Authorizes: (1) the Secretary of State to award grants to nongovernmental organizations, universities, and other organizations to establish an Internet database of SPDC human rights abuses; and (2) the President to assist nonviolent democracy activists in their efforts to promote freedom, democracy, and human rights in Burma.

Directs the Secretary to report to the appropriate committees respecting countries that provide military aid to Burma.


Input: Consider Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``United States-Flag Merchant Marine 
Revitalization Act of 1999''.

SEC. 2. AMENDMENTS OF MERCHANT MARINE ACT, 1936.

    (a) Changes in Vessels to Which Capital Construction Funds Apply.--
            (1) The second sentence of subsection (a) of section 607 of 
        the Merchant Marine Act, 1936 is amended by striking ``for 
        operation in the United States foreign, Great Lakes, or 
        noncontiguous domestic trade or in the fisheries of the United 
        States'' and inserting ``for operation in the fisheries of the 
        United States, or in the United States foreign, Great Lakes, 
        noncontiguous domestic trade, or other oceangoing domestic 
        trade between two coastal points in the United States or in 
        support of operations conducted on the Outer Continental 
        Shelf''.
            (2) Paragraph (1) of section 607(k) of such Act (defining 
        eligible vessel) is amended to read as follows:
            ``(1) The term `eligible vessel' means any vessel--
                    ``(A) documented under the laws of the United 
                States, and
                    ``(B) operated in the foreign or domestic commerce 
                of the United States or in the fisheries of the United 
                States.''.
            (3) Paragraph (2)(C) of section 607(k) of such Act is 
        amended to read as follows:
                    ``(C) which the person maintaining the fund agrees 
                with the Secretary of Commerce will be operated in the 
                fisheries of the United States, or in the United States 
                foreign, Great Lakes, noncontiguous domestic trade, or 
                other oceangoing domestic trade between two coastal 
                points in the United States or in support of operations 
                conducted on the Outer Continental Shelf.''.
            (4) Section 607(k) of such Act is amended by striking 
        paragraph (8) and redesignating paragraph (9) as paragraph (8).
            (5) The last sentence of paragraph (1) of section 607(f) of 
        such Act is amended by striking ``and containers'' each place 
        it appears.
            (6) Paragraph (7) of section 607(k) of such Act is amended 
        by inserting ``containers or trailers intended for use as part 
        of the complement of one or more eligible vessels and'' before 
        ``cargo handling''.
            (7) Subsection (k) of section 607 of such Act (as amended 
        by paragraph (4)) is amended by adding at the end the following 
        new paragraph:
            ``(9) The terms `foreign commerce' and `foreign trade' have 
        the meanings given such terms in section 905, except that these 
        terms shall include commerce or trade between foreign ports.''.
    (b) Treatment of Certain Lease Payments.--
            (1) Paragraph (1) of section 607(f) of such Act is amended 
        by striking ``or'' at the end of subparagraph (B), by striking 
        the period at the end of subparagraph (C) and inserting ``, 
        or'' and by inserting after subparagraph (C) the following new 
        subparagraph:
                    ``(D) the payment of amounts which reduce the 
                principal amount (as determined under regulations 
                promulgated by the Secretary) of a qualified lease of a 
                qualified vessel or container which is part of the 
                complement of an eligible vessel.''.
            (2) Paragraph (4) of section 607(g) of such Act is amended 
        by inserting ``or to reduce the principal amount of any 
        qualified lease'' after ``indebtedness''.
            (3) Subsection (k) of section 607 of such Act is amended by 
        adding after paragraph (10) the following new paragraph:
            ``(11) The term `qualified lease' means any lease with a 
        term of at least 5 years.''.
    (c) Authority To Make Deposits Under the Tariff Act of 1930.--
            (1) Paragraph (1) of section 607(b) of such Act is amended 
        by striking ``and'' at the end of subparagraph (C), by striking 
        the period at the end of subparagraph (D) and inserting ``, 
        and'', and by adding at the end the following new subparagraph:
                    ``(E) the amount elected for deposit under 
                subsection (i) of section 466 of the Tariff Act of 1930 
                (19 U.S.C 1466).''.
            (2) Subparagraph (A) of section 607(e)(2) of such Act is 
        amended to read as follows:
                    ``(A) amounts referred to in subsections (b)(1)(B) 
                and (E),''.
    (d) Authority To Make Deposits for Prior Years Based on Audit 
Adjustments.--Subsection (b) of section 607 of such Act is amended by 
adding at the end thereof the following new paragraph:
            ``(4) To the extent permitted by joint regulations, 
        deposits may be made in excess of the limitation described in 
        paragraph (1) (and any limitation specified in the agreement) 
        for the taxable year if, by reason of a change in taxable 
        income for a prior taxable year that has become final pursuant 
        to a closing agreement or other similar agreement entered into 
        during the taxable year, the amount of the deposit could have 
        been made for such prior taxable year.''.
    (e) Treatment of Capital Gains and Losses.--
            (1) Paragraph (3) of section 607(e) of such Act is amended 
        to read as follows:
            ``(3) The capital gain account shall consist of--
                    ``(A) amounts representing long-term capital gains 
                (as defined in section 1222 of such Code) on assets 
                held in the fund, reduced by
                    ``(B) amounts representing long-term capital losses 
                (as defined in such section) on assets held in the 
                fund.''.
            (2) Subparagraph (B) of section 607(e)(4) of such Act is 
        amended to read as follows:
                    ``(B)(i) amounts representing short-term capital 
                gains (as defined in section 1222 of such Code) on 
                assets held in the fund, reduced by
                    ``(ii) amounts representing short-term capital 
                losses (as defined in such section) on assets held in 
                the fund,''.
            (3) Subparagraph (B) of section 607(h)(3) of such Act is 
        amended by striking ``gain'' and all that follows and inserting 
        ``long-term capital gain (as defined in section 1222 of such 
        Code), and''.
            (4) The last sentence of subparagraph (A) of section 
        607(h)(6) of such Act is amended by striking ``20 percent (34 
        percent in the case of a corporation)'' and inserting ``the 
        rate applicable to net capital gain under section 1(h)(1)(C) or 
        1201(a) of such Code, as the case may be''.
    (f) Computation of Interest With Respect to Nonqualified 
Withdrawal.--
            (1) Subparagraph (C) of section 607(h)(3) of such Act is 
        amended--
                    (A) by striking clause (i) and inserting the 
                following new clause:
                            ``(i) no addition to the tax shall be 
                        payable under section 6651 of such Code, and'', 
                        and
                    (B) by striking ``paid at the applicable rate (as 
                defined in paragraph (4))'' in clause (ii) and 
                inserting ``paid in accordance with section 6601 of 
                such Code''.
            (2) Subsection (h) of section 607 of such Act is amended by 
        striking paragraph (4) and by redesignating paragraphs (5) and 
        (6) as paragraphs (4) and (5), respectively.
            (3) Subparagraph (A) of section 607(h)(5) of such Act, as 
        redesignated by paragraph (2), is amended by striking 
        ``paragraph (5)'' and inserting ``paragraph (4)''.
    (g) Other Changes.--
            (1) Section 607 of such Act is amended by striking ``the 
        Internal Revenue Code of 1954'' each place it appears and 
        inserting ``the Internal Revenue Code of 1986''.
            (2) Subsection (c) of section 607 of such Act is amended by 
        striking ``interest-bearing securities approved by the 
        Secretary'' and inserting ``interest-bearing securities and 
        other income-producing assets (including accounts receivable) 
        approved by the Secretary''.

SEC. 3. AMENDMENTS OF INTERNAL REVENUE CODE OF 1986.

    (a) Treatment of Certain Lease Payments.--
            (1) Paragraph (1) of section 7518(e) of the Internal 
        Revenue Code of 1986 is amended by striking ``or'' at the end 
        of subparagraph (B), by striking the period at the end of 
        subparagraph (C) and inserting ``, or'', and by inserting after 
        subparagraph (C) the following new subparagraph:
                    ``(D) the payments of amounts which reduce the 
                principal amount (as determined under regulations) of a 
                qualified lease of a qualified vessel or container 
                which is part of the complement of an eligible 
                vessel.''.
            (2) Paragraph (4) of section 7518(f) of such Code is 
        amended by inserting ``or to reduce the principal amount of any 
        qualified lease'' after ``indebtedness''.
    (b) Authority To Make Deposits Under the Tariff Act of 1930.--
            (1) Paragraph (1) of section 7518(a) of such Code is 
        amended by striking ``and'' at the end of subparagraph (C), by 
        striking the period at the end of subparagraph (D) and 
        inserting ``, and'', and by adding at the end the following new 
        subparagraph:
                    ``(E) the amount elected for deposit under 
                subsection (i) of section 466 of the Tariff Act of 1930 
                (19 U.S.C 1466).''.
            (2) Subparagraph (A) of section 7518(d)(2) of such Code is 
        amended to read as follows:
                    ``(A) amounts referred to in subsections (a)(1)(B) 
                and (E).''.
    (c) Authority To Make Deposits for Prior Years Based on Audit 
Adjustments.--Subsection (a) of section 7518 of such Code is amended by 
adding at the end thereof the following new paragraph:
            ``(4) To the extent permitted by joint regulations, 
        deposits may be made in excess of the limitation described in 
        paragraph (1) (and any limitation specified in the agreement) 
        for the taxable year if, by reason of a change in taxable 
        income for a prior taxable year that has become final pursuant 
        to a closing agreement or other similar agreement entered into 
        during the taxable year, the amount of the deposit could have 
        been made for such prior taxable year.''.
    (d) Treatment of Capital Gains and Losses.--
            (1) Paragraph (3) of section 7518(d) of such Code is 
        amended to read as follows:
            ``(3) Capital gain account.--The capital gain account shall 
        consist of--
                    ``(A) amounts representing long-term capital gains 
                (as defined in section 1222) on assets held in the 
                fund, reduced by
                    ``(B) amounts representing long-term capital losses 
                (as defined in such section) on assets held in the 
                fund.
            (2) Subparagraph (B) of section 7518(d)(4) of such Code is 
        amended to read as follows:
                    ``(B)(i) amounts representing short-term capital 
                gains (as defined in section 1222) on assets held in 
                the fund, reduced by
                    ``(ii) amounts representing short-term capital 
                losses (as defined in such section) on assets held in 
                the fund,''.
            (3) Subparagraph (B) of section 7518(g)(3) of such Code is 
        amended by striking ``gain'' and all that follows and inserting 
        ``long-term capital gain (as defined in section 1222), and''.
            (4) The last sentence of subparagraph (A) of section 
        7518(g)(6) of such Code is amended by striking ``20 percent (34 
        percent in the case of a corporation)'' and inserting ``the 
        rate applicable to net capital gain under such section 
        1(h)(1)(C) or 1201(a), as the case may be''.
    (e) Computation of Interest With Respect to Nonqualified 
Withdrawals.--
            (1) Subparagraph (C) of section 7518(g)(3) of such Code is 
        amended--
                    (A) by striking clause (i) and inserting the 
                following new clause:
                            ``(i) no addition to the tax shall be 
                        payable under section 6651, and'', and
                    (B) by striking ``paid at the applicable rate (as 
                defined in paragraph (4))'' in clause (ii) and 
                inserting ``paid in accordance with section 6601''.
            (2) Subsection (g) of section 7518 of such Code is amended 
        by striking paragraph (4) and by redesignating paragraphs (5) 
        and (6) as paragraphs (4) and (5), respectively.
            (3) Subparagraph (A) of section 7518(g)(5) of such Code, as 
        redesignated by paragraph (2), is amended by striking 
        ``paragraph (5)'' and inserting ``paragraph (4)''.
    (f) Other Changes.--
            (1) Paragraph (2) of section 7518(b) of such Code is 
        amended by striking ``interest-bearing securities approved by 
        the Secretary'' and inserting ``interest-bearing securities and 
        other income-producing assets (including accounts receivable) 
        approved by the Secretary''.
            (2) Paragraph (1) of section 7518(e) of such Code is 
        amended by striking ``and containers'' each place it appears.
            (3) Subsection (i) of section 7518 of such Code is amended 
        by striking ``this section'' and inserting ``the United States-
        Flag Merchant Marine Revitalization Act of 1999''.
            (4) Subparagraph (B) of section 543(a)(1) of such Code is 
        amended to read as follows:
                    ``(B) interest on amounts set aside in a capital 
                construction fund under section 607 of the Merchant 
                Marine Act, 1936 (46 App. U.S.C. 1177), or in a 
                construction reserve fund under section 511 of such Act 
                (46 App. U.S.C. 1161),''.
            (5) Subsection (c) of section 56 of such Code is amended by 
        striking paragraph (2) and by redesignating paragraph (3) as 
        paragraph (2).

 SEC. 4. AMENDMENT TO THE TARIFF ACT OF 1930.

    Section 466 of the Tariff Act of 1930 (19 U.S.C. 1466) is amended 
by adding at the end the following new subsection:
    ``(i) Election To Deposit Duty Into a Capital Construction Fund in 
Lieu of Payment to the Secretary of the Treasury.--At the election of 
the owner or master of any vessel referred to in subsection (a) of this 
section which is an eligible vessel (as defined in section 607(k) of 
the Merchant Marine Act, 1936), the portion of any duty imposed by 
subsection (a) which is deposited in a fund established under section 
607 of such Act shall be treated as paid to the Secretary of the 
Treasury in satisfaction of the liability for such duty.''.

SEC. 5. EFFECTIVE DATE.

    (a) In General.--Except as otherwise provided in this section, the 
amendments made by this Act shall apply to taxable years beginning 
after the date of the enactment of this Act.
    (b) Changes in Computation of Interest.--The amendments made by 
sections 2(f) and 3(e) shall apply to withdrawals made after December 
31, 1998, including for purposes of computing interest on such a 
withdrawal for periods on or before such date.
    (c) Qualified Leases.--The amendments made by sections 2(b) and 
3(a) shall apply to leases in effect on, or entered into after, 
December 31, 1998.
    (d) Amendment to the Tariff Act of 1930.--The amendment made by 
section 4 shall apply with respect to entries not yet liquidated by 
December 31, 1998, and to entries made on or after such date.


Output: United States-Flag Merchant Marine Revitalization Act of 1999 - Amends the Merchant Marine Act, 1936 to add to the list of vessels for which a capital construction fund may be established vessels that are for operation in oceangoing domestic trade between two coastal points in the United States or in support of operations conducted on the Outer Continental Shelf. 
Redefines "eligible vessel" to eliminate references to being constructed or reconstructed in the United States.  Revises the definition of "qualified vessel" to: (1) add references to such trade and operations; and (2) mandate an agreement with the Secretary of Commerce.  (Current law mandates an agreement with the Secretary of Commerce regarding fisheries vessels and with the Secretary of Transportation regarding all other vessels.) Removes the definition of "noncontiguous trade." 
Removes references to containers from provisions requiring that, in order for a withdrawal for a barge or container to be a qualified withdrawal (and except to the extent provided in regulations), the barge or container must have been constructed in the United States.  Adds containers and trailers that are part of an eligible vessel's complement to the definition of "vessel." 
Defines "foreign commerce" and "foreign trade." 
Adds as qualified withdrawals from such funds payments that reduce the principal amount of a qualified lease of a qualified vessel or container that is part of an eligible vessel's complement.  Adds references to payments to reduce the principal amount of any qualified lease to provisions regulating the tax treatment of qualified withdrawals.  Defines "qualified lease" as any lease with a term of at least five years. 
Adds the amount elected for deposit under specified provisions of the Tariff Act of 1930 to the list of amounts, the sum of which is the limit on deposits to a fund in any taxable year.  Includes that amount in the capital account.  Allows deposits in excess of the limit if a change in taxable income for a prior taxable year is such that a deposit could have been made for that prior year. 
Modifies: (1) the contents of the capital gain and ordinary income accounts; (2) the tax treatment of nonqualified withdrawals from the capital gain account; (3) requirements regarding the tax rate on nonqualified withdrawals; and (4) requirements regarding unqualified withdrawal interest payable under specified provisions of the Internal Revenue Code. 
Allows amounts in such funds to be invested in income-producing assets (including accounts receivable) approved by the Secretaries of Commerce (for fishing vessels) or Transportation (for all other vessels). 
Amends the Internal Revenue Code to deem withdrawals qualified if they are for payments that reduce the principal of a qualified lease of a qualified vessel or container that is part of an eligible vessel's complement.  Allows, if a qualified withdrawal is made from the ordinary income or capital gain accounts and used to reduce such principal, a reduction in the basis of vessels, barges, and containers owned by the person maintaining the fund. 
Adds the amount elected for deposit under specified provisions of the Tariff Act of 1930 to the list of amounts, the sum of which is the limit on deposits to a fund in any taxable year. 
Modifies the contents of the capital account. 
Allows deposits in excess of the limit if a change in taxable income for a prior taxable year is such that a deposit could have been made for that prior year. 
Modifies: (1) the contents of the capital gain and ordinary income accounts; (2) the tax treatment of nonqualified withdrawals from the capital gain account; (3) requirements regarding the tax rate on nonqualified withdrawals; and (4) requirements regarding unqualified withdrawal interest payable under specified provisions of the Code. 
Allows amounts in such funds to be invested in income-producing assets (including accounts receivable) approved by the Secretaries of Commerce (for fishing vessels) or Transportation (for all other vessels). 
Modifies requirements regarding qualified withdrawals and containers that are part of the complement of a qualified vessel. 
Links definitions in related provisions of the Merchant Marine Act, 1936 to definitions in related provisions of the Internal Revenue Code. 
Removes provisions relating to marine capital construction funds from provisions regarding the determination of the alternative minimum taxable income of a corporation. 
Amends the Tariff Act of 1930 to allow the owner or master of a vessel, documented under U.S. laws to engage in foreign or coasting trade, that has purchased equipment or repairs in a foreign country to deposit the ad valorem duty on the value of the equipment or repairs in a capital construction fund rather than paying them to the Secretary of the Treasury.