TASK DEFINITION: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Drug Competition Act of 2002''.

SEC. 2. FINDINGS.

    Congress finds that--
            (1) prescription drug prices are increasing at an alarming 
        rate and are a major worry of many senior citizens and American 
        families;
            (2) there is a potential for companies with patent rights 
        regarding brand name drugs and companies which could 
        manufacture generic versions of such drugs to enter into 
        financial deals that could tend to restrain trade and greatly 
        reduce competition and increase prescription drug expenditures 
        for American citizens; and
            (3) enhancing competition among these companies can 
        significantly reduce prescription drug expenditures for 
        Americans.

SEC. 3. PURPOSES.

    The purposes of this Act are--
            (1) to provide timely notice to the Department of Justice 
        and the Federal Trade Commission regarding agreements between 
        companies with patent rights regarding brand name drugs and 
        companies which could manufacture generic versions of such 
        drugs; and
            (2) by providing timely notice, to enhance the 
        effectiveness and efficiency of the enforcement of the 
        antitrust and competition laws of the United States.

SEC. 4. DEFINITIONS.

    In this Act:
            (1) ANDA.--The term ``ANDA'' means an Abbreviated New Drug 
        Application, as defined under section 201(aa) of the Federal 
        Food, Drug, and Cosmetic Act (21 U.S.C. 321(aa)).
            (2) Assistant attorney general.--The term ``Assistant 
        Attorney General'' means the Assistant Attorney General in 
        charge of the Antitrust Division of the Department of Justice.
            (3) Brand name drug.--The term ``brand name drug'' means a 
        drug approved under section 505(c) of the Federal Food, Drug, 
        and Cosmetic Act (21 U.S.C. 355(c)).
            (4) Brand name drug company.--The term ``brand name drug 
        company'' means the party that received Food and Drug 
        Administration approval to market a brand name drug pursuant to 
        an NDA, where that drug is the subject of an ANDA, or a party 
        owning or controlling enforcement of any patent listed in the 
        Approved Drug Products With Therapeutic Equivalence Evaluations 
        of the Food and Drug Administration for that drug, under 
        section 505(b) of the Federal Food, Drug, and Cosmetic Act (21 
        U.S.C. 355(b)).
            (5) Commission.--The term ``Commission'' means the Federal 
        Trade Commission.
            (6) Generic drug.--The term ``generic drug'' means a 
        product that the Food and Drug Administration has approved 
        under section 505(j) of the Federal Food, Drug, and Cosmetic 
        Act (21 U.S.C. 355(j)).
            (7) Generic drug applicant.--The term ``generic drug 
        applicant'' means a person who has filed or received approval 
        for an ANDA under section 505(j) of the Federal Food, Drug, and 
        Cosmetic Act (21 U.S.C. 355(j)).
            (8) NDA.--The term ``NDA'' means a New Drug Application, as 
        defined under section 505(b) et seq. of the Federal Food, Drug, 
        and Cosmetic Act (21 U.S.C. 355(b) et seq.)

SEC. 5. NOTIFICATION OF AGREEMENTS.

    (a) In General.--
            (1) Requirement.--A generic drug applicant that has 
        submitted an ANDA containing a certification under section 
        505(j)(2)(vii)(IV) of the Federal Food, Drug, and Cosmetic Act 
        (21 U.S.C. 355(j)(2)(vii)(IV)) and a brand name drug company 
        that enter into an agreement described in paragraph (2), prior 
        to the generic drug that is the subject of the application 
        entering the market, shall each file the agreement as required 
        by subsection (b).
            (2) Definition.--An agreement described in this paragraph 
        is an agreement regarding--
                    (A) the manufacture, marketing or sale of the brand 
                name drug that is the subject of the generic drug 
                applicant's ANDA;
                    (B) the manufacture, marketing or sale of the 
                generic drug that is the subject of the generic drug 
                applicant's ANDA; or
                    (C) the 180-day period referred to in section 
                505(j)(5)(B)(iv) of the Federal Food, Drug, and 
                Cosmetic Act (21 U.S.C. 355(j)(5)(B)(iv)) as it applies 
                to such ANDA or to any other ANDA based on the same 
                brand name drug.
    (b) Filing.--
            (1) Agreement.--The generic drug applicant and the brand 
        name drug company entering into an agreement described in 
        subsection (a)(2) shall file with the Assistant Attorney 
        General and the Commission the text of any such agreement, 
        except that the generic drug applicant and the brand-name drug 
        company shall not be required to file an agreement that solely 
        concerns--
                    (A) purchase orders for raw material supplies;
                    (B) equipment and facility contracts;
                    (C) employment or consulting contracts; or
                    (D) packaging and labeling contracts.
            (2) Other agreements.--The generic drug applicant and the 
        brand name drug company entering into an agreement described in 
        subsection (a)(2) shall file with the Assistant Attorney 
        General and the Commission the text of any other agreements not 
        described in subsection (a)(2) between the generic drug 
        applicant and the brand name drug company which are contingent 
        upon, provide a contingent condition for, or are otherwise 
        related to an agreement which must be filed under this Act.
            (3) Description.--In the event that any agreement required 
        to be filed by paragraph (1) or (2) has not been reduced to 
        text, both the generic drug applicant and the brand name drug 
        company shall file written descriptions of the non-textual 
        agreement or agreements that must be filed sufficient to reveal 
        all of the terms of the agreement or agreements.

SEC. 6. FILING DEADLINES.

    Any filing required under section 5 shall be filed with the 
Assistant Attorney General and the Commission not later than 10 
business days after the date the agreements are executed.

SEC. 7. DISCLOSURE EXEMPTION.

    Any information or documentary material filed with the Assistant 
Attorney General or the Commission pursuant to this Act shall be exempt 
from disclosure under section 552 of title 5, and no such information 
or documentary material may be made public, except as may be relevant 
to any administrative or judicial action or proceeding. Nothing in this 
section is intended to prevent disclosure to either body of Congress or 
to any duly authorized committee or subcommittee of the Congress.

SEC. 8. ENFORCEMENT.

    (a) Civil Penalty.--Any brand name drug company or generic drug 
applicant which fails to comply with any provision of this Act shall be 
liable for a civil penalty of not more than $11,000, for each day 
during which such entity is in violation of this Act. Such penalty may 
be recovered in a civil action brought by the United States, or brought 
by the Commission in accordance with the procedures established in 
section 16(a)(1) of the Federal Trade Commission Act (15 U.S.C. 56(a)).
    (b) Compliance and Equitable Relief.--If any brand name drug 
company or generic drug applicant fails to comply with any provision of 
this Act, the United States district court may order compliance, and 
may grant such other equitable relief as the court in its discretion 
determines necessary or appropriate, upon application of the Assistant 
Attorney General or the Commission.

SEC. 9. RULEMAKING.

    The Commission, with the concurrence of the Assistant Attorney 
General and by rule in accordance with section 553 of title 5 United 
States Code, consistent with the purposes of this Act--
            (1) may define the terms used in this Act;
            (2) may exempt classes of persons or agreements from the 
        requirements of this Act; and
            (3) may prescribe such other rules as may be necessary and 
        appropriate to carry out the purposes of this Act.

SEC. 10. SAVINGS CLAUSE.

    Any action taken by the Assistant Attorney General or the 
Commission, or any failure of the Assistant Attorney General or the 
Commission to take action, under this Act shall not bar any proceeding 
or any action with respect to any agreement between a brand name drug 
company and a generic drug applicant at any time under any other 
provision of law, nor shall any filing under this Act constitute or 
create a presumption of any violation of any antitrust or competition 
laws.

SEC. 11. EFFECTIVE DATE.

    This Act shall--
            (1) take effect 30 days after the date of enactment of this 
        Act; and
            (2) shall apply to agreements described in section 5 that 
        are entered into 30 days after the date of enactment of this 
        Act.

            Passed the Senate November 18, 2002.

            Attest:

                                                  JERI THOMSON,

                                                             Secretary.

SOLUTION: Drug Competition Act of 2002 - (Sec. 5) Requires a generic drug applicant that has submitted an Abbreviated New Drug Application (ANDA) and a brand name drug company that enter into an agreement, prior to the generic drug entering the market, regarding the manufacture, marketing, or sale of the brand name or the generic drug, or regarding the 180-day semi-exclusivity period referred to in the Federal Food, Drug, and Cosmetic Act as it applies to such ANDA or any other ANDA based on the same brand name drug, to each file such agreement and any related agreements with the Assistant Attorney General and the Federal Trade Commission (FTC). Makes an exception for agreements that solely concern purchase orders for raw material supplies, equipment and facility contracts, or employment or consulting contracts. Requires such agreements to be filed not later than ten business days after the date they are executed.(Sec. 7) Exempts any such information or documentary material filed from disclosure under the Freedom of Information Act. Prohibits such information or material from being made public, except as relevant to any administrative or judicial action or proceeding.(Sec. 8) Subjects an applicant or company to a civil penalty of up to $11,000 for each day such entity fails to comply with this Act, recoverable in a civil action brought by the United States or the FTC. Authorizes a U.S. district court to order compliance and grant equitable relief.

PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Tax Relief Certainty Act of 2011''.

                     TITLE I--PERMANENT TAX RELIEF

SEC. 101. REPEAL OF EGTRRA SUNSET.

    Section 901 of the Economic Growth and Tax Relief Reconciliation 
Act of 2001 is repealed.

SEC. 102. REPEAL OF JGTRRA SUNSET.

    Section 303 of the Jobs and Growth Tax Relief Reconciliation Act of 
2003 is repealed.

SEC. 103. TECHNICAL AND CONFORMING AMENDMENTS.

    The Secretary of the Treasury or the Secretary's delegate shall, 
not later than 90 days after the date of the enactment of this Act, 
submit to the Committee on Ways and Means of the House of 
Representatives and the Committee on Finance of the Senate a draft of 
any technical and conforming changes in the Internal Revenue Code of 
1986 which are necessary to reflect throughout such Code the purposes 
of the provisions of, and amendments made by, this Act.

               TITLE II--PERMANENT INDIVIDUAL AMT RELIEF

SEC. 201. PERMANENT INDIVIDUAL AMT RELIEF.

    (a) Modification of Alternative Minimum Tax Exemption Amount.--
            (1) In general.--Paragraph (1) of section 55(d) of the 
        Internal Revenue Code of 1986 (relating to exemption amount) is 
        amended to read as follows:
            ``(1) Exemption amount for taxpayers other than 
        corporations.--In the case of a taxpayer other than a 
        corporation, the term `exemption amount' means--
                    ``(A) the dollar amount for taxable years beginning 
                in the calendar year as specified in the table 
                contained in paragraph (4)(A) in the case of--
                            ``(i) a joint return, or
                            ``(ii) a surviving spouse,
                    ``(B) the dollar amount for taxable years beginning 
                in the calendar year as specified in the table 
                contained in paragraph (4)(B) in the case of an 
                individual who--
                            ``(i) is not a married individual, and
                            ``(ii) is not a surviving spouse,
                    ``(C) 50 percent of the dollar amount applicable 
                under paragraph (1)(A) in the case of a married 
                individual who files a separate return, and
                    ``(D) $22,500 in the case of an estate or trust.
        For purposes of this paragraph, the term `surviving spouse' has 
        the meaning given to such term by section 2(a), and marital 
        status shall be determined under section 7703.''.
            (2) Specified exemption amounts.--Section 55(d) of such 
        Code is amended by adding at the end the following new 
        paragraph:
            ``(4) Specified exemption amounts.--
                    ``(A) Taxpayers described in paragraph (1)(A).--For 
                purposes of paragraph (1))(A)--


------------------------------------------------------------------------
                                                                 The
             ``For taxable years beginning in--               exemption
                                                              amount is:
------------------------------------------------------------------------
2011.......................................................      $74,450
2012.......................................................      $78,250
2013.......................................................      $81,450
2014.......................................................      $85,050
2015.......................................................      $88,650
2016.......................................................      $92,650
2017.......................................................      $96,550
2018.......................................................     $100,950
2019.......................................................     $105,150
2020.......................................................     $109,950
2021.......................................................    $112,250.
------------------------------------------------------------------------

                    ``(B) Taxpayers described in paragraph (1)(B).--For 
                purposes of paragraph (1))(B)--


------------------------------------------------------------------------
                                                                 The
             ``For taxable years beginning in--               exemption
                                                              amount is:
------------------------------------------------------------------------
2011.......................................................      $48,450
2012.......................................................      $50,350
2013.......................................................      $51,950
2014.......................................................      $53,750
2015.......................................................      $55,550
2016.......................................................      $57,550
2017.......................................................      $59,500
2018.......................................................      $61,700
2019.......................................................      $63,800
2020.......................................................      $66,200
2021.......................................................  $68,200.''.
------------------------------------------------------------------------

    (b) Alternative Minimum Tax Relief for Nonrefundable Credits.--
            (1) In general.--Subsection (a) of section 26 of the 
        Internal Revenue Code of 1986 is amended to read as follows:
    ``(a) Limitation Based on Amount of Tax.--The aggregate amount of 
credits allowed by this subpart for the taxable year shall not exceed 
the sum of--
            ``(1) the taxpayer's regular tax liability for the taxable 
        year reduced by the foreign tax credit allowable under section 
        27(a), and
            ``(2) the tax imposed by section 55(a) for the taxable 
        year.''.
            (2) Conforming amendments.--
                    (A) Child tax credit.--
                            (i) Section 24(b) of such Code is amended 
                        by striking paragraph (3).
                            (ii) Section 24(d)(1) of such Code is 
                        amended--
                                    (I) by striking ``section 26(a)(2) 
                                or subsection (b)(3), as the case may 
                                be,'' each place it appears in 
                                subparagraphs (A) and (B) and inserting 
                                ``section 26(a)'', and
                                    (II) by striking ``section 26(a)(2) 
                                or subsection (b)(3), as the case may 
                                be'' in the second last sentence and 
                                inserting ``section 26(a)''.
                    (B) Credit for interest on certain home 
                mortgages.--Section 25(e)(1)(C) of such Code is amended 
                to read as follows:
                    ``(C) Applicable tax limit.--For purposes of this 
                paragraph, the term `applicable tax limit' means the 
                limitation imposed by section 26(a) for the taxable 
                year reduced by the sum of the credits allowable under 
                this subpart (other than this section and sections 23, 
                25D, and 1400C).''.
                    (C) Savers' credit.--Section 25B of such Code is 
                amended by striking subsection (g).
                    (D) Residential energy efficient property.--Section 
                25D(c) of such Code is amended to read as follows:
    ``(c) Carryforward of Unused Credit.--If the credit allowable under 
subsection (a) exceeds the limitation imposed by section 26(a) for such 
taxable year reduced by the sum of the credits allowable under this 
subpart (other than this section), such excess shall be carried to the 
succeeding taxable year and added to the credit allowable under 
subsection (a) for such succeeding taxable year.''.
                    (E) Certain plug-in electric vehicles.--Section 
                30(c)(2) of such Code is amended to read as follows:
            ``(2) Personal credit.--For purposes of this title, the 
        credit allowed under subsection (a) for any taxable year 
        (determined after application of paragraph (1)) shall be 
        treated as a credit allowable under subpart A for such taxable 
        year.''.
                    (F) Alternative motor vehicle credit.--Section 
                30B(g)(2) of such Code is amended to read as follows:
            ``(2) Personal credit.--For purposes of this title, the 
        credit allowed under subsection (a) for any taxable year 
        (determined after application of paragraph (1)) shall be 
        treated as a credit allowable under subpart A for such taxable 
        year.''.
                    (G) New qualified plug-in electric vehicle 
                credit.--Section 30D(c)(2) of such Code is amended to 
                read as follows:
            ``(2) Personal credit.--For purposes of this title, the 
        credit allowed under subsection (a) for any taxable year 
        (determined after application of paragraph (1)) shall be 
        treated as a credit allowable under subpart A for such taxable 
        year.''.
                    (H) Cross references.--Section 55(c)(3) of such 
                Code is amended by striking ``26(a), 30C(d)(2),'' and 
                inserting ``30C(d)(2)''.
                    (I) Foreign tax credit.--Section 904 of such Code 
                is amended by striking subsection (i) and by 
                redesignating subsections (j), (k), and (l) as 
                subsections (i), (j), and (k), respectively.
                    (J) First-time home buyer credit for the district 
                of columbia.--Section 1400C(d) of such Code is amended 
                to read as follows:
    ``(d) Carryforward of Unused Credit.--If the credit allowable under 
subsection (a) exceeds the limitation imposed by section 26(a) for such 
taxable year reduced by the sum of the credits allowable under subpart 
A of part IV of subchapter A (other than this section and section 25D), 
such excess shall be carried to the succeeding taxable year and added 
to the credit allowable under subsection (a) for such taxable year.''.
            (3) Adoption credit.--
                    (A) In general.--Section 10909 of the Patient 
                Protection and Affordable Care Act, and the amendments 
                made thereby, are repealed; and the Internal Revenue 
                Code of 1986 shall be applied as if such section, and 
                amendments, had never been enacted.
                    (B) Conforming amendments.--
                            (i) Section 23(b) of the Internal Revenue 
                        Code of 1986, as in effect on December 31, 
                        2009, is amended by striking paragraph (4).
                            (ii) Section 23(c) of such Code, as in 
                        effect on December 31, 2009, is amended by 
                        striking paragraphs (1) and (2) and inserting 
                        before paragraph (3) the following:
            ``(1) In general.--If the credit allowable under subsection 
        (a) for any taxable year exceeds the limitation imposed by 
        section 26(a) for such taxable year, reduced by the sum of the 
        credits allowable under this subpart (other than this section 
        and sections 25D and 1400C), such excess shall be carried to 
        the succeeding taxable year and added to the credit allowable 
        under subsection (a) for such taxable year.''.
                            (iii) Section 23(c) of such Code, as in 
                        effect on December 31, 2009, is amended by 
                        redesignating paragraph (3) as paragraph (2).
    (c) Effective Date.--The amendments and the repeal made by this 
section shall apply to taxable years beginning after December 31, 2010.

                 TITLE III--PERMANENT ESTATE TAX RELIEF

SEC. 301. PERMANENT ESTATE TAX RELIEF.

    (a) In General.--Title III of the Tax Relief, Unemployment 
Insurance Reauthorization, and Job Creation Act of 2010, and the 
amendments made thereby, are repealed; and the Internal Revenue Code of 
1986 shall be applied as if such title, and amendments, had never been 
enacted.
    (b) Effective Date.--The repeal made by this section shall apply to 
estates of decedents dying, gifts made, and generation skipping 
transfers after December 31, 2009.

SOLUTION: Tax Relief Certainty Act of 2011 - Eliminates: (1) the terminating date of the Economic Growth and Tax Relief Reconciliation Act of 2001, thus making the tax relief provisions of such Act permanent; and (2) the terminating date of the Jobs and Growth Tax Relief Reconciliation Act of 2003 applicable to reductions in the tax rate for dividend and capital gain income.

Amends the Internal Revenue Code to: (1) phase-in between 2011 through 2021increases in the exemption amount for the alternative minimum tax (AMT); and (2) make permanent offsets against the AMT for certain nonrefundable tax credits.

Makes permanent the repeal of the estate, gift, and generation-skipping transfer taxes for decedents dying, gifts made, and generation skipping transfers after December 31, 2009.

PROBLEM: SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Community 
Development Financial Institutions Fund Amendments Act of 1999''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

    Sec. 1. Short title; table of contents.
    Sec. 2. Change of status of the Fund; miscellaneous technical 
                            corrections.
    Sec. 3. Amendments to programs administered by the Fund and the 
                            Bank Enterprise Act of 1991.
    Sec. 4. Extension of authorization.
    Sec. 5. Amendments to Small Business Capital Enhancement Program.
    Sec. 6. Additional safeguards.

 SEC. 2. CHANGE OF STATUS OF THE FUND; MISCELLANEOUS TECHNICAL 
              CORRECTIONS.

    (a) Purpose.--Section 102(b) of the Community Development Banking 
and Financial Institutions Act of 1994 (12 U.S.C. 4701(b)) is amended 
to read as follows:
    ``(b) Purpose.--The purpose of this subtitle is to create a 
Community Development Financial Institutions Fund to promote economic 
revitalization and community development through investment in and 
assistance to community development financial institutions, including 
enhancing the liquidity of community development financial 
institutions, and through incentives to insured depository institutions 
that increase lending and other assistance and investment in both 
economically distressed communities and community development financial 
institutions.''.
    (b) Definitions.--
            (1) Section 103 of the Community Development Banking and 
        Financial Institutions Act of 1994 is amended--
                    (A) by striking paragraph (1);
                    (B) by redesignating paragraphs (2) through (17) as 
                paragraphs (1) through (16), respectively; and
                    (C) by inserting after paragraph (16), as so 
                redesignated, the following new paragraph:
            ``(17) Secretary.--Except in the case of section 104(d)(2), 
        the term `Secretary' means the Secretary of the Treasury.''.
            (2) The Community Development Banking and Financial 
        Institutions Act of 1994 (12 U.S.C. 4701 et seq.) is amended 
        (other than in section 118) by striking ``Administrator'' each 
        place such term appears and inserting ``Secretary''.
    (c) Establishment of Fund Within the Department of the Treasury.--
            (1) In general.--Section 104(a) of the Community 
        Development Banking and Financial Institutions Act of 1994 (12 
        U.S.C. 4703(a)) is amended to read as follows:
    ``(a) Establishment.--
            ``(1) In general.--There is established in the Department 
        of the Treasury a Community Development Financial Institutions 
        Fund that shall have the functions specified by this subtitle 
        and subtitle B of Title II. The offices of the Fund shall be in 
        Washington, D.C. The Fund shall not be affiliated with any 
        other agency or department of the Federal Government.
            ``(2) Wholly owned government corporation.--The Fund shall 
        be a wholly owned government corporation within the Department 
        of the Treasury and shall be treated in all respects as an 
        agency of the United States, except as otherwise provided in 
        this subtitle.''.
            (2) Authority of the secretary of the treasury.--Section 
        104(b) of the Community Development Banking and Financial 
        Institutions Act of 1994 (12 U.S.C. 4703(b)) is amended to read 
        as follows:
    ``(b) Management of Fund.--
            ``(1) Authority of secretary of the treasury.--All 
        functions of the Fund shall be performed by or under the 
        supervision of the Secretary.
            ``(2) Appointment of officers and employees.--The Secretary 
        may appoint such officers and employees of the Fund, 
including a Director, as the Secretary deems necessary or 
appropriate.''.
            (3) Inspector general.--
                    (A) In general.--Section 118 of the Community 
                Development Banking and Financial Institutions Act of 
                1994 is amended to read as follows:

``SEC. 118. INSPECTOR GENERAL.

    ``The Inspector General of the Department of the Treasury shall be 
the Inspector General of the Fund.''.
                    (B) Technical and conforming amendment.--Section 11 
                of the Inspector General Act of 1978 (5 U.S.C. App. 3) 
                is amended--
                            (i) in paragraph (1), by striking ``; the 
                        Administrator of the Community Development 
                        Financial Institutions Fund;''; and
                            (ii) in paragraph (2), by striking ``the 
                        Community Development Financial Institutions 
                        Fund,''.
            (4) Technical correction to rulemaking authority.--Section 
        119(a)(1) of the Community Development Banking and Financial 
        Institutions Act of 1994 (12 U.S.C. 4717(a)(1)) is amended to 
        read as follows:
            ``(1) In general.--The Secretary may prescribe such 
        regulations and procedures as may be necessary to carry out 
        this subtitle.''.

 SEC. 3. AMENDMENTS TO PROGRAMS ADMINISTERED BY THE FUND AND THE BANK 
              ENTERPRISE ACT OF 1991.

    (a) Amendments to Community Development Financial Institutions 
Program.--
            (1) Form of assistance provided.--Section 108(a)(1)(B)(iii) 
        of the Community Development Banking and Financial Institutions 
        Act of 1994 (12 U.S.C. 4707(a)(1)(B)(iii)) is amended by 
        inserting ``through cooperative agreements or'' before ``by 
        contracting''.
            (2) Training programs.--Section 109(d) of the Community 
        Development Banking and Financial Institutions Act of 1994 (12 
        U.S.C. 4708(d)) is amended to read as follows:
    ``(d) Form of Training.--The Fund may offer the training program 
described in this section--
            ``(1) directly; or
            ``(2) through grants, contracts, or cooperative agreements 
        with other organizations that possess special expertise in 
        community development, without regard to whether the 
        organizations receive or are eligible to receive assistance 
        under this subtitle.''.
    (b) Amendments to the Bank Enterprise Act Awards Program.--
            (1) Awards for assistance to community development 
        financial institutions.--Paragraph (2) of section 233(a) of the 
        Bank Enterprise Act (12 U.S.C. 1834a(a)) is amended--
                    (A) in that portion of such paragraph which 
                precedes subparagraph (A), by striking ``for for'' and 
                inserting ``for'';
                    (B) in subparagraph (A), by striking ``for low- and 
                moderate-income persons'' and inserting ``to community 
                development financial institutions, low- and moderate-
                income persons''; and
                    (C) in subparagraph (B)--
                            (i) by inserting ``of the increase'' after 
                        ``the amount''; and
                            (ii) by striking ``financial'' each place 
                        such term appears.
            (2) Increase in award amounts for certain activities.--
        Section 114(b)(2) of the Community Development Banking and 
        Financial Institutions Act of 1994 (12 U.S.C. 4713(b)(2)) is 
        amended by amending the substitute text used to apply section 
        233(a)(3) of the Bank Enterprise Act of 1991--
                    (A) in subparagraph (A), by inserting ``or (2)(B)'' 
                after ``paragraph (2)(A)'';
                    (B) in subparagraph (A)(i), by inserting ``each'' 
                before ``such subparagraph''; and
                    (C) in subparagraph (A)(ii), by inserting ``each'' 
                before ``such subparagraph''.
            (3) Awarding credit for additional qualified activities.--
        Paragraph (4) of section 233(a) of the Bank Enterprise Act (12 
        U.S.C. 1834a(a)(4)) is amended--
                    (A) in the portion of such paragraph which precedes 
                subparagraph (A), by inserting ``and (2)(B)'' after 
                ``paragraph (2)(A)''; and
                    (B) by adding at the end the following new 
                subparagraph:
                    ``(P) Other forms of assistance that the Board 
                determines to be appropriate.
            (4) Evaluation of technical assistance provided.--Section 
        233(a)(7) of the Bank Enterprise Act (12 U.S.C. 1834a(a)(7)) is 
        amended--
                    (A) by inserting ``and other'' after ``technical''; 
                and
                    (B) by striking ``and (O)'' and inserting instead 
                ``(O), and (P)''.
            (5) Establishing alternative criteria in defining certain 
        distressed communities.--Section 233(b)(4)(C) of the Bank 
        Enterprise Act (12 U.S.C. 1834a(b)(4)(C)) is amended by 
        inserting ``or alternative'' before ``eligibility 
        requirements''.

SEC. 4. EXTENSION OF AUTHORIZATION.

    Paragraph (1) of section 121(a) of the Community Development 
Banking and Financial Institutions Act of 1994 (12 U.S.C. 4718(a)) is 
amended to read as follows:
            ``(1) In general.--To carry out this subtitle and subtitle 
        B of title II, there are authorized to be appropriated to the 
        Fund, to remain available until expended--
                    ``(A) $95,000,000 for fiscal year 2000;
                    ``(B) $100,000,000 for fiscal year 2001;
                    ``(C) $105,000,000 for fiscal year 2002; and
                    ``(D) $110,000,000 for fiscal year 2003.''.

SEC. 5. AMENDMENTS TO SMALL BUSINESS CAPITAL ENHANCEMENT PROGRAM.

    (a) Definition of Financial Institution.--Section 252(5) of the 
Riegle Community Development and Regulatory Improvement Act of 1994 (12 
U.S.C. 4742(5)) is amended by inserting ``any community development 
financial institution (as defined in section 103(5) of this Act) and,'' 
before ``any federally chartered''.
    (b) Elimination of Threshold Appropriation.--Section 253 of the 
Riegle Community Development and Regulatory Improvement Act of 1994 (12 
U.S.C. 4743) is amended by striking subsection (d) and redesignating 
subsection (e) as subsection (d).
    (c) Conforming Amendment.--Section 254(a) of the Riegle Community 
Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4744(a)) 
is amended by inserting ``(if any)'' after ``appropriate Federal 
banking agency''.
    (d) Amendments to Reimbursement Authority.--Section 257(a) of the 
Riegle Community Development and Regulatory Improvement Act of 1994 (12 
U.S.C. 4747(a)) is amended to read as follows--
    ``(a) Reimbursements.--
            ``(1) In general.--The Fund shall reimburse participating 
        States according to criteria established by the Fund.
            ``(2) Examples of criteria.--Criteria established under 
        paragraph (1) may include whether a participating State is 
        creating a new program, is expanding in scope or scale an 
        existing State program, the need for Fund reimbursement, the 
        availability of Fund resources, and other criteria established 
        by the Fund.
            ``(3) Timing and amount of reimbursement.--Not later than 
        30 calendar days after receiving a report filed in compliance 
        with section 256, the Fund shall reimburse a participating 
        State meeting such criteria in an amount equal to up to 50 
        percent of the amount of contributions by the participating 
        State to the reserve funds that are subject to reimbursement by 
        the Fund pursuant to section 256 and this section, until such 
        sums made available by the Fund for this purpose are 
        expended.''.
    (e) Conforming Amendment.--Section 260 of the Riegle Community 
Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4750) is 
hereby repealed.

SEC. 6. ADDITIONAL SAFEGUARDS.

    (a) Neutral Review Requirements.--Section 107 of the Community 
Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 
4706) is amended by adding at the end the following new subsections:
    ``(c) Objective Scoring System.--
            ``(1) In general.--For purposes of making any evaluation 
        under subsection (a) of any application, the Fund shall develop 
        a scoring system which assigns a relative point value to each 
        factor required to be considered under paragraphs (1) through 
        (14) of subsection (a) in connection with the selection of 
        applicants.
            ``(2) Notice of scoring system.--A description of the 
        scoring system shall be included in any notice of funding 
        availability issued by the Fund.
    ``(d) Neutral Multiperson Review Panel.--
            ``(1) In general.--The Fund shall convene multiperson 
        review panels to--
                    ``(A) review all applications for selection, under 
                subsection (a), on the basis of the factors required to 
                be considered under paragraphs (1) through (14) of 
                subsection (a) using the objective scoring system 
                developed pursuant to subsection (c) before any 
                selection is made by the Fund under subsection (a) with 
                respect to such applications; and
                    ``(B) make recommendations with regard to such 
                selections to the Fund on the basis of such review.
            ``(2) Composition.--The multiperson review panels shall 
        each consist of such number of members as the Fund determines 
        to be appropriate, but not less than 3, who shall be appointed 
        from among individuals who, by virtue of their education, 
        training, or experience, are specially qualified to carry out 
        the responsibilities of the panel and at least 1/3 of the 
        members of each panel shall be appointed from among individuals 
        with diverse experiences who are not officers or employees of 
        any government.''.
    (b) Additional Information To Be Included in Annual Reports.--
Section 117 of the Community Development Banking and Financial 
Institutions Act of 1994 (12 U.S.C. 4716) is amended by adding at the 
end the following new subsections:
    ``(g) Contract and Compliance Information.--The annual report 
submitted to the Congress by the Fund pursuant to subsection (a) shall 
contain the following information:
            ``(1) Services of contractors.--Information on the use of 
        contractors to carry out any function of the Fund under this 
        subtitle, including--
                    ``(A) a description of the services provided by 
                contractors under this subtitle during the period 
                covered by the report;
                    ``(B) a description of the procurement process 
                utilized to obtain such services;
                    ``(C) the basis of the authority of the Fund to 
                contract for the services so obtained; and
                    ``(D) the total amount obligated by the Fund for 
                such contracts.
            ``(2) Compliance with other requirements.--An evaluation of 
        the extent to which the Fund is maintaining compliance, in 
        connection with the activities of the Fund under this subtitle 
        and subtitle B of title II, with the requirements of, and 
        regulations prescribed pursuant to subsections (b) and (d) of 
        section 3512 of title 31, United States Code.
            ``(3) Plan for addressing weaknesses of internal 
        controls.--A plan for addressing any material weakness in 
        internal controls identified in the most recent external audit 
        pursuant to subsection (f).''.
    (c) Report on Implementation of Scoring System.--The 1st annual 
report submitted by the Fund to the Congress under section 117(a) of 
the Community Development Banking and Financial Institutions Act of 
1994 after the effective date of this Act shall include a complete 
description of the implementation of the scoring system required under 
subsection (c) of the amendment made by subsection (a) of this section, 
including a description of the methodology of the system.
    (d) GAO Report.--Before the end of the 18-month period beginning on 
the date of the enactment of this Act, the Comptroller General of the 
United States shall submit a report to the Congress evaluating the 
structure, governance, and performance of the Community Development 
Financial Institutions Fund.
    (e) Prior Notice of Contracts.--For the purpose of ensuring that 
the requirements of section 8(a) of the Small Business Act are being 
met, and preventing evasions of such requirements, with regard to 
contracts involving the Fund and contractors under such section, the 
Fund shall submit a notice of any such contract to the Congress at 
least 15 days before any performance is due under such contract.
    (f) Technical and Conforming Amendment.--That portion of section 
107(a) of the Community Development Banking and Financial Institutions 
Act of 1994 (12 U.S.C. 4706(a)) which appears before paragraph (1) of 
such section is amended to read as follows:
    ``(a) Selection Criteria.--Except as provided in section 113, the 
Fund shall, after considering the results of the scoring system 
developed under subsection (c) and the recommendations of the 
multiperson review panels under subsection (d), select community 
development financial institution applicants meeting the requirements 
of section 105 for assistance based on--''.

SOLUTION:
Community Development Financial Institutions Fund Amendments Act of 1999 - Modifies the Community Development Banking and Financial Institutions Act of 1994 (the Act) to expand its purposes to include promotion of economic revitalization and community development through incentives to insured depository institutions that increase lending and other assistance and investment in both economically distressed communities and community development financial institutions. 
(Sec. 2) Places the Community Development Financial Institutions Fund in the Department of the Treasury and all Fund functions under the supervision of the Secretary of the Treasury. 
(Sec. 3) Authorizes the Fund to offer community development finance activity training programs through grants or cooperative agreements with other organizations (as well as directly or through contracts). 
(Sec. 4) Authorizes appropriations for FY 2000 through 2003. 
(Sec. 6) Requires the Fund to: (1) develop a scoring system which assigns a relative point value to each factor required in connection with applicant selection criteria; (2) convene multiperson review panels to review applications on the basis of such factors and the scoring system; and (3) include in its annual report specified contract and compliance information, as well as a complete description of the implementation of the scoring system and its methodology. 
Directs the Comptroller General to report to the Congress on Fund structure, governance, and performance.