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Question: SECTION 1. SHORT TITLE; AMENDMENT OF 1986 CODE.

    (a) Short Title.--This Act may be cited as the ``Individual 
Retirement Account Equity and Enhancement Act of 1994''.
    (b) Amendment of 1986 Code.--Except as otherwise expressly 
provided, whenever in this Act an amendment or repeal is expressed in 
terms of an amendment to, or repeal of, a section or other provision, 
the reference shall be considered to be made to a section or other 
provision of the Internal Revenue Code of 1986.

SEC. 2. HOMEMAKERS ELIGIBLE FOR FULL IRA DEDUCTION.

    (a) Spousal IRA Computed on Basis of Compensation of Both 
Spouses.--Subsection (c) of section 219 (relating to special rules for 
certain married individuals) is amended to read as follows:
    ``(c) Special Rules for Certain Married Individuals.--
            ``(1) In general.--In the case of an individual to whom 
        this paragraph applies for the taxable year, the limitation of 
        paragraph (1) of subsection (b) shall be equal to the lesser 
        of--
                    ``(A) $2,000, or
                    ``(B) the sum of--
                            ``(i) the compensation includible in such 
                        individual's gross income for the taxable year, 
                        plus
                            ``(ii) the compensation includible in the 
                        gross income of such individual's spouse for 
                        the taxable year reduced by the amount 
                        allowable as a deduction under subsection (a) 
                        to such spouse for such taxable year.
            ``(2) Individuals to whom paragraph (1) applies.--Paragraph 
        (1) shall apply to any individual if--
                    ``(A) such individual files a joint return for the 
                taxable year, and
                    ``(B) the amount of compensation (if any) 
                includible in such individual's gross income for the 
                taxable year is less than the compensation includible 
                in the gross income of such individual's spouse for the 
                taxable year.''
    (b) Conforming Amendments.--
            (1) Paragraph (2) of section 219(f) (relating to other 
        definitions and special rules) is amended by striking 
        ``subsections (b) and (c)'' and inserting ``subsection (b)''.
            (2) Section 408(d)(5) is amended by striking ``$2,250'' and 
        inserting ``$2,000''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1994.

SEC. 3. DISTRIBUTIONS FROM CERTAIN PLANS MAY BE USED WITHOUT PENALTY TO 
              PURCHASE FIRST HOMES, TO PAY HIGHER EDUCATION OR 
              QUALIFIED LONG-TERM CARE EXPENSES, OR BY THE LONG-TERM 
              UNEMPLOYED.

    (a) In General.--Paragraph (2) of section 72(t) (relating to 
exceptions to 10-percent additional tax on early distributions from 
qualified retirement plans) is amended by adding at the end the 
following new subparagraph:
            ``(D) Distributions from certain plans for first home 
        purchases or educational or long-term care expenses.--
        Distributions to an individual from an individual retirement 
        plan, or from amounts attributable to employer contributions 
        made pursuant to elective deferrals described in subparagraph 
        (A) or (C) of section 402(g)(3) or section 501(c)(18)(D)(iii)--
                    ``(i) which are qualified first-time homebuyer 
                distributions (as defined in paragraph (6)), or
                    ``(ii) to the extent such distributions do not 
                exceed the sum of the qualified higher education 
                expenses (as defined in paragraph (7)) and the 
                qualified long-term care expenses (as defined in 
                paragraph (8)) of the taxpayer for the taxable year.''
    (b) Definitions.--Section 72(t) is amended by adding at the end the 
following new paragraphs:
            ``(6) Qualified first-time homebuyer distributions.--For 
        purposes of paragraph (2)(D)(i)--
                    ``(A) In general.--The term `qualified first-time 
                homebuyer distribution' means any payment or 
                distribution received by an individual to the extent 
                such payment or distribution is used by the individual 
                before the close of the 60th day after the day on which 
                such payment or distribution is received to pay 
                qualified acquisition costs with respect to a principal 
                residence of a first-time homebuyer who is such 
                individual, the spouse of such individual, or the child 
                or grandchild of such individual or the individual's 
                spouse.
                    ``(B) Qualified acquisition costs.--For purposes of 
                this paragraph, the term `qualified acquisition costs' 
                means the costs of acquiring, constructing, or 
                reconstructing a residence. Such term includes any 
                usual or reasonable settlement, financing, or other 
                closing costs.
                    ``(C) First-time homebuyer; other definitions.--For 
                purposes of this paragraph--
                            ``(i) First-time homebuyer.--The term 
                        `first-time homebuyer' means any individual 
                        if--
                                    ``(I) such individual (and if 
                                married, such individual's spouse) had 
                                no present ownership interest in a 
                                principal residence during the 3-year 
                                period ending on the date of 
                                acquisition of the principal residence 
                                to which this paragraph applies, and
                                    ``(II) subsection (a)(6), (h), or 
                                (k) of section 1034 did not suspend the 
                                running of any period of time specified 
                                in section 1034 with respect to such 
                                individual on the day before the date 
                                the distribution is applied pursuant to 
                                subparagraph (A)(ii).
                            ``(ii) Principal residence.--The term 
                        `principal residence' has the same meaning as 
                        when used in section 1034.
                            ``(iii) Date of acquisition.--The term 
                        `date of acquisition' means the date--
                                    ``(I) on which a binding contract 
                                to acquire the principal residence to 
                                which subparagraph (A) applies is 
                                entered into, or
                                    ``(II) on which construction or 
                                reconstruction of such a principal 
                                residence is commenced.
                    ``(D) Special rule where delay in acquisition.--If 
                any distribution from any individual retirement plan 
                fails to meet the requirements of subparagraph (A) 
                solely by reason of a delay or cancellation of the 
                purchase or construction of the residence, the amount 
                of the distribution may be contributed to an individual 
                retirement plan as provided in section 408(d)(3)(A)(i) 
                (determined by substituting `120 days' for `60 days' in 
                such section), except that--
                            ``(i) section 408(d)(3)(B) shall not be 
                        applied to such contribution, and
                            ``(ii) such amount shall not be taken into 
                        account in determining whether section 
                        408(d)(3)(A)(i) applies to any other amount.
            ``(7) Qualified higher education expenses.--For purposes of 
        paragraph (2)(D)(ii)--
                    ``(A) In general.--The term `qualified higher 
                education expenses' means tuition, fees, books, 
                supplies, and equipment required for the enrollment or 
                attendance of--
                            ``(i) the taxpayer,
                            ``(ii) the taxpayer's spouse, or
                            ``(iii) the child (as defined in section 
                        151(c)(3)) or grandchild of the taxpayer or the 
                        taxpayer's spouse,
                at an eligible educational institution (as defined in 
                section 135(c)(3)).
                    ``(B) Coordination with savings bond provisions.--
                The amount of qualified higher education expenses for 
                any taxable year shall be reduced by any amount 
                excludable from gross income under section 135.
            ``(8) Qualified long-term care expenses.--For purposes of 
        paragraph (2)(D)(ii)--
                    ``(A) In general.--The term `qualified long-term 
                care expenses' means amounts paid or incurred for 
                qualified long-term care services, including amounts 
                for insurance covering such services.
                    ``(B) Qualified long-term care services.--For 
                purposes of subparagraph (A)--
                            ``(i) In general.--The term `qualified 
                        long-term care services' means necessary 
                        diagnostic, preventive, therapeutic, 
                        rehabilitative, and maintenance (including 
                        personal care) services--
                                    ``(I) which are required by an 
                                individual during any period during 
                                which such individual is a functionally 
                                impaired individual,
                                    ``(II) which have as their primary 
                                purpose the provision of needed 
                                assistance with 1 or more activities of 
                                daily living which a functionally 
                                impaired individual is certified as 
                                being unable to perform under clause 
                                (ii)(I), and
                                    ``(III) which are provided pursuant 
                                to a continuing plan of care prescribed 
                                by a licensed health care practitioner 
                                (other than a relative of such 
                                individual).
                            ``(ii) Functionally impaired individual.--
                                    ``(I) In general.--The term 
                                `functionally impaired individual' 
                                means any individual who is certified 
                                by a licensed health care practitioner 
                                (other than a relative of such 
                                individual) as being unable to perform, 
                                without substantial assistance from 
                                another individual (including 
                                assistance involving verbal reminding, 
                                physical cueing, or substantial 
                                supervision), at least 3 activities of 
                                daily living described in clause (iii).
                                    ``(II) Special rule for home health 
                                care services.--In the case of services 
                                which are provided during any period 
                                during which an individual is residing 
                                within the individual's home (whether 
                                or not the services are provided within 
                                the home), subclause (I) shall be 
                                applied by substituting `2' for `3'. 
                                For purposes of this subclause, a 
                                nursing home or similar facility shall 
                                not be treated as a home.
                            ``(iii) Activities of daily living.--Each 
                        of the following is an activity of daily 
                        living:
                                    ``(I) Eating.
                                    ``(II) Transferring.
                                    ``(III) Toileting.
                                    ``(IV) Dressing.
                                    ``(V) Bathing.
                    ``(C) Licensed health care practitioner.--For 
                purposes of subparagraph (B)--
                            ``(i) In general.--The term `licensed 
                        health care practitioner' means--
                                    ``(I) a physician or registered 
                                professional nurse,
                                    ``(II) a qualified community care 
                                case manager (as defined in clause 
                                (ii)), or
                                    ``(III) any other individual who 
                                meets such requirements as may be 
                                prescribed by the Secretary after 
                                consultation with the Secretary of 
                                Health and Human Services.
                            ``(ii) Qualified community care case 
                        manager.--The term `qualified community care 
                        case manager' means an individual or entity 
                        which--
                                    ``(I) has experience or has been 
                                trained in providing case management 
                                services and in preparing individual 
                                care plans;
                                    ``(II) has experience in assessing 
                                individuals to determine their 
                                functional and cognitive impairment;
                                    ``(III) is not a relative of the 
                                individual receiving case management 
                                services; and
                                    ``(IV) meets such requirements as 
                                may be prescribed by the Secretary 
                                after consultation with the Secretary 
                                of Health and Human Services.
                    ``(D) Relative.--For purposes of this paragraph, 
                the term `relative' means an individual bearing a 
                relationship to another individual which is described 
                in paragraphs (1) through (8) of section 152(a).''
    (c) Penalty-Free Distributions for Certain Unemployed 
Individuals.--Paragraph (2) of section 72(t) is amended by adding at 
the end the following new subparagraph:
                    ``(E) Distributions to unemployed individuals.--A 
                distribution from an individual retirement plan to an 
                individual after separation from employment, if--
                            ``(i) such individual has received 
                        unemployment compensation for 12 consecutive 
                        weeks under any Federal or State unemployment 
                        compensation law by reason of such separation, 
                        and
                            ``(ii) such distributions are made during 
                        any taxable year during which such unemployment 
                        compensation is paid or the succeeding taxable 
                        year.''
    (d) Conforming Amendments.--
            (1) Section 401(k)(2)(B)(i) is amended by striking ``or'' 
        at the end of subclause (III), by striking ``and'' at the end 
        of subclause (IV) and inserting ``or'', and by inserting after 
        subclause (IV) the following new subclause:
                                    ``(V) the date on which qualified 
                                first-time homebuyer distributions (as 
                                defined in section 72(t)(6)), or 
                                distributions for qualified higher 
                                education expenses (as defined in 
                                section 72(t)(7)), or for qualified 
                                long-term care expenses (as defined in 
                                section 72(t)(18)), are made, and''.
            (2) Section 403(b)(11) is amended by striking ``or'' at the 
        end of subparagraph (A), by striking the period at the end of 
        subparagraph (B) and inserting ``, or'', and by inserting after 
        subparagraph (B) the following new subparagraph:
                    ``(C) for qualified first-time homebuyer 
                distributions (as defined in section 72(t)(6)) or for 
                the payment of qualified higher education expenses (as 
                defined in section 72(t)(7)) or qualified long-term 
                care expenses (as defined in section 72(t)(8)).''
    (e) Effective Date.--The amendments made by this section shall 
apply to payments and distributions after the date of the enactment of 
this Act.

Answer: Individual Retirement Account Equity and Enhancement Act of 1994 - Amends the Internal Revenue Code to allow certain spouses a deduction for contributions to an individual retirement account. 
Allows distribution from certain retirement plans without penalty to purchase first homes, pay higher education expenses and qualified long-term care expenses, and assist certain unemployed individuals.


Question: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Mortgage Fairness Act''.

SEC. 2. COMMUNITY SUPPORT OBLIGATIONS OF MORTGAGE BANKS.

    (a) In General.--Each mortgage bank shall have an ongoing 
responsibility to meet the credit needs of all the communities in which 
such bank makes a significant number of extensions of credit or extends 
a significant amount of credit, including extensions of credit in low- 
and moderate-income neighborhoods of such communities.
    (b) Definitions.--For purposes of this Act, the following 
definitions shall apply:
            (1) Mortgage bank.--The term ``mortgage bank'' means any 
        lender who does not accept deposits and originates housing 
        related loans.
            (2) Office.--The term ``Office'' means the Office of 
        Mortgage Bank and Insurance Supervision established by the 
        Secretary of Housing and Urban Development pursuant to section 
        3.
            (3) Secretary.--The term ``Secretary'' means the Secretary 
        of Housing and Urban Development.

SEC. 3. ESTABLISHMENT OF OFFICE OF MORTGAGE BANK AND INSURANCE 
              SUPERVISION.

    The Secretary of Housing and Urban Development shall establish 
within the Department of Housing and Urban Development an office to be 
known as the Office of Mortgage Bank and Insurance Supervision to 
evaluate the community support performance of mortgage banks and 
mortgage insurance companies.

SEC. 4. MORTGAGE BANK COMMUNITY SUPPORT STATEMENTS.

    (a) In General.--The Office shall, on a biennial basis, require 
each mortgage bank to submit to the Office a community support 
statement, detailing the efforts of such bank at meeting the housing 
credit needs of each community in which the bank makes a significant 
number of extensions of credit or extends a significant amount of 
credit, including extensions of credit in low- and moderate-income 
neighborhoods of such communities.
    (b) Contents.--The statement submitted by each mortgage bank under 
subsection (a) shall include--
            (1) the data required to be maintained and disclosed by the 
        lender under the Home Mortgage Disclosure Act of 1975 for the 
        previous 2 years, in a format which the Office shall establish;
            (2) underwriting criteria employed by the bank for all of 
        the bank's housing loan products;
            (3) descriptions of any activity the bank has undertaken 
        over the period under review to ascertain and meet identified 
        credit needs in low- and moderate-income neighborhoods within 
        communities in which the bank makes a significant number of 
        extensions of credit or extends a significant amount of credit, 
        including any partnerships formed with community-based 
        organizations, nonprofit developers of affordable housing, or 
        agencies of State or local government;
            (4) details of any findings of technical or substantive 
        violations of the Equal Credit Opportunity Act or the Fair 
        Housing Act, and any settlements or judgments arising from any 
        such findings; and
            (5) any other information the Office may require.

SEC. 5. MORTGAGE BANK COMMUNITY SUPPORT EVALUATION.

    The Office shall determine whether a mortgage bank is maintaining 
an adequate community support performance, based on--
            (1) community support performance statements received from 
        mortgage banks;
            (2) an analysis of the data required to be maintained and 
        disclosed by the lender under the Home Mortgage Disclosure Act 
        of 1975 for the previous 2 years with respect to metropolitan 
        statistical areas in which the bank originates a significant 
        number of home loans, which shall emphasize--
                    (A) the institution's market share in neighborhoods 
                of different racial and income characteristics;
                    (B) the number of applications received from 
                minorities and low- and moderate-income persons; and
                    (C) the rate at which the institutions rejects 
                applications from minority and white applicants;
            (3) any evidence of illegal discriminatory credit 
        practices, including prescreening, or offering less favorable 
        loan products to applicants of different racial backgrounds; 
        and
            (4) public comment, which shall be received by the agency 
        for not less than 90 days after the Office actively solicits 
        comment solicitations of comment through notice in the Federal 
        Register and regular communications with community based 
        organizations.

SEC. 6. PENALTIES FOR FINDING OF INADEQUATE COMMUNITY SUPPORT 
              PERFORMANCE BY MORTGAGE BANKS.

    (a) Remedial Action.--If the Secretary finds that a mortgage bank 
is maintaining an inadequate level of community support, the Secretary 
may issue an order--
            (1) requiring the bank to file a community support action 
        plan with the Office not more than 90 days after the finding, 
        which shall include concrete goals and timetables for 
        correcting identified deficiencies; and
            (2) prohibiting the bank from using any program or product 
        administered by the Secretary until all identified deficiencies 
        are met.
    (b) Cease and Desist Orders.--
            (1) Issuance of order.--
                    (A) In general.--If the Secretary determines that 
                there is reasonable cause to believe that a mortgage 
                bank is violating, has violated, or is about to violate 
                an order under subsection (a) or a community support 
                action plan filed pursuant to such an order, the 
                Secretary may issue an order requiring the mortgage 
                bank to--
                            (i) cease and desist from any such 
                        violation; and
                            (ii) take such affirmative action to 
                        prevent the occurrence or the continuance of 
                        such violation as the Secretary determines to 
                        be appropriate.
                    (B) Notice of charges.--An order issued under this 
                paragraph shall include a notice of the charges on 
                which the order is based and a statement of the facts 
                constituting the alleged violation.
                    (C) Effective period.--An order issued under this 
                paragraph shall--
                            (i) become effective upon service to the 
                        mortgagee; and
                            (ii) remain effective and enforceable 
                        pursuant to the terms of the order unless 
                        modified or rescinded by the Secretary or 
                        pursuant to an order of a court under paragraph 
                        (3) or in connection with the court's review of 
                        any administrative proceedings with respect to 
                        the order issued under this subsection.
            (2) Hearing.--Any mortgage bank which receives an order 
        under paragraph (1) shall be afforded an opportunity for a 
        hearing on the record by the Secretary as soon as practicable 
        but not later than 20 days after the order has been served.
            (3) Judicial hearing.--Within 10 days after a mortgage bank 
        has been served with a cease-and-desist order under this 
        subsection, the bank may apply to the United States district 
        court for the judicial district in which the home office of the 
        bank is located, or the United States District Court for the 
        District of Columbia, for an injunction setting aside, 
        limiting, or suspending the enforcement, operation, or 
        effectiveness of such order pending the completion of the 
        administrative proceedings pursuant to the notice of charges 
        served upon the bank, and such court shall have jurisdiction to 
        issue such injunction.
            (4) Judicial enforcement.--The Secretary may apply to the 
        United States district court, or the United States court of any 
        territory, within the jurisdiction of which the home office of 
        the mortgagee is located, for an injunction to enforce any 
        effective and outstanding order issued under this subsection 
        and, if the court determines that there has been a violation or 
        threatened violation of such order, the court shall issue such 
        injunction.
    (c) Civil Money Penalty.--
            (1) Imposition of penalty.--
                    (A) In general.--The Secretary may impose a civil 
                money penalty on any mortgage bank, and any director, 
                officer or employee of a mortgage bank, who violates 
                any order issued under subsection (a) or (b).
                    (B) Amount of penalty.--The amount of the penalty, 
                as determined by the Secretary, may not exceed--
                            (i) in the case of a violation of an order 
                        issued under subsection (a), $10,000 for each 
                        month during which such violation occurs; and
                            (ii) in the case of a violation of an order 
                        issued under subsection (b), $10,000 for each 
                        day during which such violation continues.
                    (C) Notification to attorney general.--Before 
                taking action to impose a civil money penalty for a 
                violation under subparagraph (A), the Secretary shall 
                inform the Attorney General of the United States.
            (2) Assessment.--
                    (A) Written notice.--Any penalty imposed under 
                paragraph (1) may be assessed and collected by the 
                Secretary by written notice.
                    (B) Finality of assessment.--If, with respect to 
                any assessment under subparagraph (A), a hearing is not 
                requested pursuant to paragraph (5) within the period 
                of time allowed under such paragraph, the assessment 
                shall constitute a final and unappealable order.
            (3) Authority to modify or remit penalty.--The Secretary 
        may compromise, modify, or remit any penalty which the 
        Secretary may assess or already has assessed under paragraph 
        (1).
            (4) Mitigating factors.--In determining the amount of a 
        penalty under paragraph (1) with respect to any person, the 
        Secretary shall take into account the appropriateness of the 
        penalty with respect to--
                    (A) the gravity of the offense;
                    (B) any history of previous violations by the 
                person;
                    (C) the ability of the person to pay the penalty;
                    (D) injury to the public;
                    (E) benefits received by the person as a result of 
                the violation;
                    (F) the deterrent effect of the penalty on future 
                violations by such person and other persons; and
                    (G) such other factors as the Secretary may 
                determine in regulations to be appropriate.
            (5) Hearing.--The person against whom a civil money penalty 
        is assessed under paragraph (1) shall be afforded an 
        opportunity for a hearing on the record, if such person submits 
        a request for such hearing within 20 days after the issuance of 
        the notice of the assessment.
            (6) Collection.--
                    (A) Referral.--If any person fails to pay an 
                assessment after any penalty assessed under this 
                subsection has become final, the Secretary shall notify 
                the Attorney General who shall recover the amount 
                assessed in the appropriate United States district 
                court.
                    (B) Appropriateness of penalty not reviewable.--In 
                any civil action under subparagraph (A), the validity 
                and appropriateness of the penalty shall not be subject 
                to review.
            (7) Disbursement.--All penalties collected pursuant to this 
        subsection shall be deposited into the Treasury of the United 
        States.
            (8) Agency procedures--The Secretary shall, by regulation, 
        establish standards and procedures for carrying out this 
        subsection.

SEC. 7. COMMUNITY SUPPORT REQUIREMENTS FOR MORTGAGE INSURANCE 
              COMPANIES.

    (a) In General.--Each mortgage insurance company shall--
            (1) report to the Office the number and total dollar amount 
        of each mortgage insurance policy written by the company, by 
        census tract, the race, gender, and income of applicants for 
        mortgage insurance, and the disposition of each application for 
        mortgage insurance;
            (2) demonstrate to the Secretary adequate support for 
        community credit needs; and
            (3) make public to any person the underwriting criteria for 
        any mortgage insurance the company offers.
    (b) 2-Year Reporting Requirement.--At least once during each 2-year 
period beginning after the date of enactment of this Act, each mortgage 
insurance company shall submit a report to the Office containing the 
following information:
            (1) Adequacy of availability of mortgage insurance.--The 
        extent to which adequate mortgage insurance is available in 
        low- and moderate-income and minority neighborhoods within 
        areas in which the company writes a significant number of 
        mortgage insurance policies.
            (2) Underwriting guidelines.--The extent to which 
        underwriting guidelines used by the company do not unreasonably 
        restrict access to low- and moderate-income families within 
        areas in which the company writes a significant number of 
        mortgage insurance policies.
    (c) Duties of the Office.--The Office shall conduct biennial 
community support reviews of mortgage insurance companies including 
analysis of the following:
            (1) The data collected by the Agency on the distribution of 
        the mortgage insurance company's policies by census tract and 
        data on the disparate treatment of applicants for mortgage 
        insurance based on the applicants' race, gender, and income.
            (2) The underwriting criteria employed by the company and 
        the extent to which such criteria do not unreasonably restrict 
        access to credit for low- and moderate-income and minority 
        persons or neighborhoods.
            (3) Community support statements received from the mortgage 
        insurance company.
            (4) Any other information the Secretary may require 
        mortgage insurance companies to submit.
            (5) Any comments received from the public on the community 
        support performance of the mortgage insurance company during 
        the period covered by the review under this paragraph.
    (d) Duties of the Secretary.--The Secretary shall--
            (1) solicit and accept public comment for no fewer than 90 
        days before issuing a finding in connection with the review of 
        a mortgage insurance company under subsection (c)(2); and
            (2) review the community support performance of each 
        mortgage insurance company and determine whether the company is 
        providing an adequate level of community support in the areas 
        in which such company writes a significant number of mortgage 
        insurance policies.
    (e) Performance Statement.--If, after reviewing any evidence, the 
Secretary concludes that a mortgage insurance company is not meeting 
the requirements of this section, the Secretary may require such 
company to submit a statement indicating how the company expects to 
improve its record of providing community support.

Answer: Mortgage Fairness Act - Requires each mortgage bank to meet the credit needs of all communities in which it makes a significant number of extensions of credit or extends a significant amount of credit, including extensions of credit in low- and moderate-income communities. 
(Sec. 3) Directs the Secretary of Housing and Urban Development (HUD) to establish within HUD the Office of Mortgage Bank and Insurance Supervision. 
(Sec. 4) Directs the Office, on a biennial basis, to require each mortgage bank to submit to it a community support statement detailing the bank's efforts at meeting the housing credit needs of the above- referenced communities. 
(Sec. 5) Directs the Office to determine whether a mortgage bank is maintaining an adequate community support performance based on specified criteria. 
(Sec. 6) Sets forth certain penalties against a mortgage bank that has been found to be maintaining an inadequate level of community support. 
(Sec. 7) Requires each mortgage insurance company to: (1) report to the Office the total number and total dollar amount of each mortgage insurance policy written by it, by census tract, the race, gender, and income of applicants for mortgage insurance, and the disposition of each application for such insurance; (2) demonstrate to the Secretary adequate support for community credit needs; and (3) make public to any person the underwriting criteria for any mortgage insurance the company offers. 
Requires the Office to conduct biennial community support reviews of mortgage insurance companies.  Authorizes the Secretary to require a mortgage insurance company to submit a statement indicating how it expects to improve its record of providing community support whenever the Secretary concludes that such company is not meeting the requirements of this section.


Question: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Green Export Promotion and Job 
Creation Act''.

SEC. 2. AMENDMENT TO EXPORT ENHANCEMENT ACT OF 1988.

    (a) In General.--Subtitle C of the Export Enhancement Act of 1988 
(15 U.S.C. 4721), relating to export promotion, is amended by adding at 
the end the following new section:

``SEC. 2315. PROMOTION OF EXPORTS OF CLEAN AND EFFICIENT ENERGY AND 
              ENVIRONMENTAL PRODUCTS AND SERVICES.

    ``(a) Public Directory for Foreign Buyers.--
            ``(1) Establishment.--The Secretary of Commerce, acting 
        through the Under Secretary for International Trade, shall, in 
        cooperation with the relevant Federal departments and agencies, 
        establish a directory accessible through a public Web site for 
        foreign buyers to identify United States manufacturers and 
        service providers that are prepared to export products and 
        services in the following areas:
                    ``(A) Clean and efficient energy generation, 
                distribution, and use.
                    ``(B) Remediation of air and water pollution.
                    ``(C) Water supply.
                    ``(D) Sanitation.
                    ``(E) Solid waste disposal.
                    ``(F) Chemical and hazardous waste treatment and 
                containment.
                    ``(G) Equipment and services for testing, 
                monitoring, and analysis with respect to any area 
                described in any of subparagraphs (A) through (F), or 
                otherwise with respect to environmental hazards.
            ``(2) Requirements.--The directory established under 
        paragraph (1) shall--
                    ``(A) include a mechanism for United States 
                businesses to register for inclusion in the directory, 
                and for the United States Government to ascertain the 
                location in the United States and the legitimacy of 
                such businesses;
                    ``(B) include a summary of the products and 
                services provided by each registered United States 
                business;
                    ``(C) provide contact information for each United 
                States business in the database;
                    ``(D) be searchable by industry, business name, 
                product, or service, or by a combination of keywords; 
                and
                    ``(E) be updated regularly.
            ``(3) Submission of implementation plan to congress.--Not 
        later than 180 days after the date of the enactment of this 
        section, the Secretary of Commerce shall submit to the 
        appropriate congressional committees a detailed plan for 
        establishing and maintaining the directory required by 
        paragraph (1), including plans for the operation, content, 
        maintenance, and functionality of the directory. The plan 
        submitted under this paragraph shall include a detailed 
        implementation schedule for the directory, and plans for a 
        public awareness campaign to be conducted by the Secretary to 
        provide consumer awareness of the directory.
            ``(4) Date of initial availability.--Not later than 18 
        months after the date on which the Secretary submits the plan 
        required by paragraph (3), the Secretary of Commerce shall 
        establish the directory required by paragraph (1).
            ``(5) Government promotion.--The Secretary of Commerce 
        should promote awareness and use of the directory established 
        under this subsection in the United States and Foreign 
        Commercial Service and in United States missions and posts 
        abroad.
    ``(b) Governmental Database on Foreign Sales Opportunities.--
            ``(1) Establishment.--The Secretary of Commerce shall, in 
        cooperation with the relevant Federal departments and agencies, 
        establish a database accessible only to United States 
        Government personnel, that identifies potential sales 
        opportunities abroad for United States manufacturers and 
        service providers that are prepared to export products and 
        services in the areas described in subsection (a)(1).
            ``(2) Requirements.--The database established under 
        paragraph (1) shall--
                    ``(A) include a mechanism for United States 
                businesses to subscribe to the database;
                    ``(B) establish a mechanism for United States 
                Government personnel to enter information regarding 
                foreign business opportunities described in paragraph 
                (1) into the database;
                    ``(C) provide a summary of the products or services 
                desired by each foreign buyer;
                    ``(D) provide information that will allow a 
                subscriber to the system to contact the foreign buyer 
                or the person who entered the information into the 
                database;
                    ``(E) be searchable by location, industry, company 
                name, product, or service, or by a combination of 
                keywords;
                    ``(F) be able to transmit regular updates on 
                potential sales opportunities to database subscribers, 
                including the ability for subscribers of the system to 
                be able to customize the type of information they 
                receive; and
                    ``(G) be updated regularly.
    ``(c) Monitoring and Evaluation of United States Export Promotion 
With Respect to Clean and Efficient Energy and Environmental Products 
and Services.--
            ``(1) In general.--The Secretary of Commerce shall develop 
        and implement a rigorous system to evaluate the effectiveness 
        and efficiency of United States export promotion activities 
        with respect to clean and efficient energy and environmental 
        products and services.
            ``(2) Components of system.--In order to avoid duplication, 
        ensure comprehensive coverage, promote high and uniform 
        standards, and facilitate comparability of results and the 
        development of a strong body of evidence, the system required 
        under paragraph (1) shall include--
                    ``(A) a method of coordinating monitoring and 
                evaluation activities among all Federal agencies 
                carrying out United States export promotion activities 
                with respect to clean and efficient energy and 
                environmental products and services;
                    ``(B) a survey of business customers that receive 
                export promotion services from the United States 
                Government;
                    ``(C) small- and medium-sized businesses that 
                receive export promotion services from the United 
                States Government and, of such businesses, those that 
                export products and services for the first time; and
                    ``(D) a process for consulting with the private 
                sector and subject matter experts, as appropriate, on 
                the planning, design, and implementation of evaluation 
                activities and dissemination of evaluation findings 
                under this subsection.
            ``(3) Required actions.--In carrying out paragraph (1), the 
        Secretary of Commerce shall establish, through the Trade 
        Promotion Coordinating Committee, standards for the following 
        actions with respect to the export promotion activities with 
        respect to clean and efficient energy and environmental 
        products and services that are engaged in by any Federal 
        agency:
                    ``(A) Establishing measurable and meaningful 
                performance objectives, including--
                            ``(i) exports by small- and medium-sized 
                        businesses;
                            ``(ii) businesses that become first-time 
                        exporters;
                            ``(iii) newly accessed markets; and
                            ``(iv) number of new registrants to receive 
                        export promotion services.
                    ``(B) Establishing criteria for the selection of 
                programs, projects, and activities to be subject to 
                various evaluation methodologies, with a particular 
                emphasis on impact evaluation.
                    ``(C) Establishing or designating an organizational 
                unit at the Department of Commerce with adequate staff 
                and resources to oversee and provide technical support 
                for appropriate evaluation activities.
                    ``(D) Through the Trade Promotion Coordinating 
                Committee, developing a plan for improving the capacity 
                of the agency to conduct rigorous and objective program 
                monitoring and evaluation, including by--
                            ``(i) expanding relevant education and 
                        training opportunities;
                            ``(ii) encouraging the adoption of improved 
                        methodologies for data collection and analysis; 
                        and
                            ``(iii) ensuring that best practices are 
                        shared within and between agencies.
                    ``(E) Establishes a process for applying the 
                findings and results of monitoring and evaluation 
                activities, including impact evaluation research, into 
                future program planning, budgeting, design, and 
                implementation.
                    ``(F) Establishes a policy for the publication of 
                program evaluations.
                    ``(G) Develops, in consultation with relevant 
                stakeholders, as appropriate, an annual evaluation plan 
                that describes how the agency will meet the 
                requirements of this section.
            ``(4) Submission of evaluation plans.--The President shall 
        ensure that the evaluation plans required by paragraph (3)(G) 
        are submitted to the appropriate congressional committees each 
        year along with the annual budget submitted under section 1105 
        of title 31, United States Code, and are published on a 
        Government Web site.
    ``(d) Cooperation With the International Renewable Energy Agency.--
The Secretary of Commerce, in consultation with the Secretary of State, 
shall work with the International Renewable Energy Agency (IRENA) to 
identify countries that have received or are in the process of 
receiving assistance from IRENA that improve the deployment and 
adoption of renewable energy in such country in order to promote United 
States exports in clean and efficient energy and environmental products 
and services to that country.
    ``(e) Report to Congress.--Not later than one year after the date 
of the enactment of this section and annually thereafter, the Secretary 
of Commerce shall transmit a report to Congress on the implementation 
of this section. Such report shall include--
            ``(1) a description of the activities undertaken during the 
        preceding year;
            ``(2) the results of the monitoring and evaluation programs 
        under subsection (c) during the preceding year; and
            ``(3) the operations of the public directory established 
        under subsection (a) and the governmental database established 
        under subsection (b) during the preceding year.
    ``(f) GAO Report on Effectiveness of U.S. Export Promotion.--
            ``(1) Initial report.--Not later than one year after the 
        date of the enactment of this section, the Comptroller General 
        shall submit a report to the appropriate congressional 
        committees containing--
                    ``(A) a baseline analysis that compares the scope 
                of effectiveness of United States export promotion 
                activities with respect to clean and efficient energy 
                and environmental products and services with those of 
                other major trade competitors; and
                    ``(B) recommendations on how United States export 
                promotion activities described in subparagraph (A) can 
                be strengthened to counteract foreign government 
                competition.
            ``(2) Subsequent report.--Not later than two years after 
        the date of the enactment of this section, the Comptroller 
        General shall submit a report to the appropriate congressional 
        committees containing--
                    ``(A) an assessment of the overall effectiveness of 
                United States export promotion activities with respect 
                to clean and efficient energy and environmental 
                products and services and a comparison to the baseline 
                analysis conducted in paragraph (1);
                    ``(B) an assessment of the ability of the Trade 
                Promotion Coordinating Committee to coordinate United 
                States export promotion activities described in 
                subparagraph (A);
                    ``(C) an evaluation of the effectiveness of the 
                monitoring and evaluation system established under 
                subsection (c); and
                    ``(D) recommendations for improving the 
                coordination and implementation of United States export 
                promotion activities described in subparagraph (A).
    ``(g) Definitions.--In this section--
            ``(1) the term `appropriate congressional committees' means 
        the Committee on Foreign Affairs in the House of 
        Representatives and the Committee on Banking, Housing, and 
        Urban Affairs in the Senate; and
            ``(2) the term `product' includes technology.''.
    (b) Conforming Amendment.--The table of contents of the Omnibus 
Trade and Competitiveness Act of 1988 is amended by inserting after the 
item relating to section 2314 the following new item:

``Sec. 2315. Promotion of exports of clean and efficient energy and 
                            environmental products and services.''.

Answer:
Green Export Promotion and Job Creation Act - Amends the Export Enhancement Act of 1988 to revise provisions relating to export promotion to require the Under Secretary for International Trade to establish an online directory for foreign buyers to identify U.S. manufacturers and service providers that are prepared to export products and services in: (1) clean and efficient energy generation, distribution, and use; (2) remediation of air and water pollution; (3) water supply; (4) sanitation, solid waste disposal, and chemical and hazardous waste treatment and containment; and (5) equipment and services for testing, monitoring, and analysis with respect to such areas or otherwise with respect to environmental hazards.

Requires the Secretary of Commerce to: (1) establish a database, to be accessible only to U.S. government personnel, that identifies potential sales opportunities abroad for U.S. manufacturers and service providers that are prepared to export products and services in such areas; (2) develop and implement a system to evaluate the effectiveness and efficiency of U.S. export promotion activities with respect to clean and efficient energy and environmental products and services; and (3) establish, through the Trade Promotion Coordinating Committee, standards for specified actions with respect to the export promotion activities concerning clean and efficient energy and environmental products and services that are engaged in by any federal agency.

Requires the Secretary of Commerce to work with the International Renewable Energy Agency (IRENA) to identify countries that receive assistance from IRENA that improve the deployment and adoption of renewable energy in order to promote U.S. exports in clean and efficient energy and environmental products and services to that country.