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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Reducing Duplication Overseas Act of 
2012''.

SEC. 2. PURPOSE.

    The purpose of this Act is to promote high-quality, cost-efficient, 
and effective administrative support services to agencies overseas.

SEC. 3. DEFINITIONS.

    In this Act:
            (1) Agency.--The term ``agency'' means a department, 
        agency, or independent establishment in the executive branch 
        performing any foreign affairs functions.
            (2) Appropriate congressional committees.--The term 
        ``appropriate congressional committees'' means--
                    (A) the Committee on Foreign Relations of the 
                Senate;
                    (B) the Committee on Homeland Security and 
                Governmental Affairs of the Senate;
                    (C) the Committee on Appropriations of the Senate;
                    (D) the Committee on Foreign Affairs of the House 
                of Representatives;
                    (E) the Committee on Oversight and Government 
                Reform of the House of Representatives; and
                    (F) the Committee on Appropriations of the House of 
                Representatives.
            (3) International cooperative administrative support 
        services system.--The term ``International Cooperative 
        Administrative Support Services system'' means the mechanism 
        established pursuant to section 23 of the State Department 
        Basic Authorities Act of 1956 (22 U.S.C. 2695) by which the 
        United States Government manages and funds administrative 
        support services at overseas posts.
            (4) International cooperative administrative support 
        services customer agencies.--The term ``International 
        Cooperative Administrative Support Services customer agencies'' 
        means agencies participating in the International Cooperative 
        Administrative Support Services system.
            (5) International cooperative administrative support 
        services executive board.--The term ``International Cooperative 
        Administrative Support Services Executive Board'' means the 
        highest-level International Cooperative Administrative Support 
        Services policy-making body comprised of senior representatives 
        of agencies participating in the International Cooperative 
        Administrative Support Services system.

SEC. 4. PARTICIPATION IN INTERNATIONAL COOPERATIVE ADMINISTRATIVE 
              SUPPORT SERVICES SYSTEM.

    (a) In General.--Not later than 2 years after the date of the 
enactment of this Act, each agency with operations overseas under the 
authority of the Chief of Mission pursuant to section 207 of the 
Foreign Service Act of 1980 (22 U.S.C. 3927) shall participate in the 
International Cooperative Administrative Support Services system for 
purposes of obtaining household furniture, furnishings, and appliance 
pools services, motor pool services, and management services unless--
            (1) the agency provides a detailed explanation for 
        evaluation and decision by the International Cooperative 
        Administrative Support Services Executive Board that 
        describes--
                    (A) how the agency will provide the service outside 
                of the International Cooperative Administrative Support 
                Services system;
                    (B) the cost to the agency of the service; and
                    (C) how providing the service outside the 
                International Cooperative Administrative Support 
                Services system will not increase overall costs to the 
                United States Government; or
            (2) the agency submits a detailed explanation for 
        evaluation and decision by the International Cooperative 
        Administrative Support Services Executive Board certifying that 
        the mission of the agency cannot be achieved by such 
        participation in the International Cooperative Administrative 
        Support Services system.
    (b) Rule of Construction.--The motor pool services requirement 
under subsection (a) applies to administrative services, and shall not 
be construed as superseding, removing, or limiting any statutory or 
programmatic requirements related to agency use or procurement of 
vehicles.

SEC. 5. USE OF ALTERNATE SERVICE PROVIDERS.

    The International Cooperative Administrative Support Services 
Executive Board shall allow an agency to act as an alternate service 
provider for administrative services at an overseas post in place of 
the existing International Cooperative Administrative Support Services 
provider for purposes of reducing overall costs to the United States 
Government if the agency--
            (1) demonstrates through a business case that it can 
        provide the administrative service more efficiently; and
            (2) agrees to provide the administrative service to all 
        other International Cooperative Administrative Support Services 
        customer agencies at the overseas post.

SEC. 6. REPORTING REQUIREMENTS.

    (a) Biennial Report.--
            (1) In general.--Not later than 1 year after the date of 
        the enactment of this Act, and every 2 years thereafter, the 
        Secretary of State, in consultation with the International 
        Cooperative Administrative Support Services Executive Board, 
        shall submit to the appropriate congressional committees a 
        report on the International Cooperative Administrative Support 
        Services system.
            (2) Content.--The report required under paragraph (1) 
        shall--
                    (A) establish performance goals to define the level 
                of performance to be achieved in providing efficient, 
                effective, and equitable administrative services to 
                International Cooperative Administrative Support 
                Services customer agencies;
                    (B) establish a balanced set of performance 
                indicators to be used in measuring or assessing 
                progress toward each performance goal;
                    (C) describe how the International Cooperative 
                Administrative Support Services system ensures the 
                accuracy and reliability of the data used to measure 
                progress; and
                    (D) identify strategies and the resources required 
                to achieve performance goals.
    (b) Comptroller General Review.--
            (1) In general.--Not later than 2 years after the date of 
        the enactment of this Act, the Comptroller General of the 
        United States shall submit to the appropriate congressional 
        committees a review of the International Cooperative 
        Administrative Support Services system.
            (2) Content.--The review required under paragraph (1) shall 
        include--
                    (A) an evaluation of whether requiring agencies to 
                participate in the International Cooperative 
                Administrative Support Services system for household 
                furniture, furnishings, and appliance pools services 
                and motor pools services has increased cost-efficiency 
                and reduced administrative redundancies;
                    (B) recommendations, if warranted, for further 
                consolidation of services in the International 
                Cooperative Administrative Support Services system;
                    (C) an evaluation of how implementation of this Act 
                is affecting the performance of International 
                Cooperative Administrative Support Services customer 
                agencies; and
                    (D) recommendations, if warranted, for improving 
                the International Cooperative Administrative Support 
                Services system and implementing this Act.
Reducing Duplication Overseas Act of 2012 - Requires a federal agency that performs any foreign affairs functions and operates overseas to participate in the International Cooperative Administrative Support Services system for purposes of obtaining household furniture, furnishings, and appliance pools services, motor pool services, and management services unless such agency provides a detailed explanation that describes: (1) how such agency will provide the service outside the system, (2) the cost of the service, and (3) how providing the service outside the system will not increase overall costs. Requires such an agency to provide a detailed explanation certifying that the mission of the agency cannot be achieved by participation in the system.

Requires the International Cooperative Administrative Support Services Executive Board to allow an agency to act as an alternative provider for administrative services at an overseas post in place of the system if the agency: (1) demonstratives that it can provide the administrative service more efficiently, and (2) agrees to provide the administrative service to all other International Cooperative Administrative Support Services customer agencies at the overseas post.

Requires the Comptroller General (GAO) to submit a review of the system to specified congressional committees

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Equitable Treatment of Investors 
Act''.

SEC. 2. SECURITIES INVESTOR PROTECTION ACT OF 1970 AMENDMENTS.

    (a) Net Equity Based on Last Statement.--Section 16(11) of the 
Securities Investor Protection Act of 1970 (15 U.S.C. 78lll(11)) is 
amended to read as follows:
            ``(11) Net equity.--
                    ``(A) In general.--The term `net equity' means the 
                dollar amount of the account or accounts of a customer, 
                to be determined by--
                            ``(i) calculating the sum which would have 
                        been owed by the debtor to such customer if the 
                        debtor had liquidated, by sale or purchase on 
                        the filing date--
                                    ``(I) all securities positions of 
                                such customer (other than customer name 
                                securities reclaimed by such customer); 
                                and
                                    ``(II) all positions in futures 
                                contracts and options on futures 
                                contracts held in a portfolio margining 
                                account carried as a securities account 
                                pursuant to a portfolio margining 
                                program approved by the Commission, 
                                including all property collateralizing 
                                such positions, to the extent that such 
                                property is not otherwise included 
                                herein; minus
                            ``(ii) any indebtedness of such customer to 
                        the debtor on the filing date; plus
                            ``(iii) any payment by such customer of 
                        such indebtedness to the debtor which is made 
                        with the approval of the trustee and within 
                        such period as the trustee may determine (but 
                        in no event more than sixty days after the 
                        publication of notice under section 8(a)).
                    ``(B) Treatment of certain commodity futures 
                contracts.--A claim for a commodity futures contract 
                received, acquired, or held in a portfolio margining 
                account pursuant to a portfolio margining program 
                approved by the Commission or a claim for a security 
                futures contract, shall be deemed to be a claim with 
                respect to such contract as of the filing date, and 
                such claim shall be treated as a claim for cash.
                    ``(C) Treatment of accounts held by a customer in 
                separate capacities.--In determining net equity under 
                this paragraph, accounts held by a customer in separate 
                capacities shall be deemed to be accounts of separate 
                customers.
                    ``(D) Reliance on final customer statement.--
                            ``(i) In general.--In determining net 
                        equity under this paragraph, the positions, 
                        options, and contracts of a customer held by 
                        the debtor, and any indebtedness of the 
                        customer to the debtor, shall be determined 
                        based on--
                                    ``(I) the information contained in 
                                the last statement received by the 
                                customer from the debtor before the 
                                filing date; and
                                    ``(II) any additional specific 
                                confirmations of the customer's 
                                positions, options, contracts, or 
                                indebtedness received after such last 
                                statement but before the filing date.
                            ``(ii) Fraud exception.--The provisions of 
                        this subparagraph shall not apply to any 
                        customer that--
                                    ``(I) knew the debtor was involved 
                                in fraudulent activity with respect to 
                                any customer of the debtor; or
                                    ``(II) was a person that--
                                            ``(aa) was, or was required 
                                        to be, registered with the 
                                        Securities and Exchange 
                                        Commission under the securities 
                                        laws (as such term is defined 
                                        under section 3(a) of the 
                                        Securities Exchange Act of 1934 
                                        (15 U.S.C. 78c(a)));
                                            ``(bb) knew, or should have 
                                        known, that the debtor was 
                                        involved in fraudulent activity 
                                        with respect to any customer of 
                                        the debtor; and
                                            ``(cc) did not notify SIPC, 
                                        the Commission, or law 
                                        enforcement personnel that the 
                                        debtor was involved in such 
                                        fraudulent activity.''.
    (b) Prohibition on Certain Recoveries.--Section 8 of the Securities 
Investor Protection Act of 1970 (15 U.S.C. 78fff-2) is amended by 
adding at the end the following new subsection:
    ``(g) Prohibition on Certain Recoveries.--Notwithstanding any other 
provision of this Act, a trustee may not recover any property 
transferred by the debtor to a customer before the filing date unless, 
at the time of such transfer, such customer--
            ``(1) knew the debtor was involved in fraudulent activity 
        with respect to any customer of the debtor; or
            ``(2) was a person that--
                    ``(A) was, or was required to be, registered with 
                the Securities and Exchange Commission under the 
                securities laws (as such term is defined under section 
                3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 
                78c(a)));
                    ``(B) knew, or should have known, that the debtor 
                was involved in fraudulent activity with respect to any 
                customer of the debtor; and
                    ``(C) did not notify SIPC, the Commission, or law 
                enforcement personnel that the debtor was involved in 
                such fraudulent activity.''.
    (c) Appointment of Trustees.--
            (1) In general.--Section 5(b)(3) of the Securities Investor 
        Protection Act of 1970 (15 U.S.C. 78eee(b)(3)) is amended to 
        read as follows:
            ``(3) Appointment of trustee and attorney.--
                    ``(A) In general.--If the court issues a protective 
                decree under paragraph (1), such court shall forthwith 
                appoint, as trustee for the liquidation of the business 
                of the debtor and as attorney for the trustee, such 
                persons as the court determines best fit to serve as 
                trustee and as attorney from among the persons selected 
                by the Commission pursuant to subparagraph (B). The 
                persons appointed as trustee and as attorney for the 
                trustee may be associated with the same firm.
                    ``(B) Commission candidates.--With respect to a 
                debtor and upon the court issuing a protective decree 
                under paragraph (1), the Commission shall forthwith 
                provide the court with a list of candidates for the 
                position of trustee and attorney for the trustee for 
                such debtor.
                    ``(C) Disinterest requirement.--No person may be 
                appointed to serve as trustee or attorney for the 
                trustee if such person is not disinterested within the 
                meaning of paragraph (6), except that for any specified 
                purpose other than to represent a trustee in conducting 
                a liquidation proceeding, the trustee may, with the 
                approval of SIPC and the court, employ an attorney who 
                is not disinterested.
                    ``(D) Qualification.--A trustee appointed under 
                this paragraph shall qualify by filing a bond in the 
                manner prescribed by section 322 of title 11, United 
                States Code.''.
            (2) Effective date.--The amendment made by paragraph (1) 
        shall take effect with respect to trustees and attorneys 
        appointed after the date of the enactment of this Act.

SEC. 3. EFFECTIVE DATE.

    Except as provided under section 2(c)(2), the amendments made by 
section 2 shall take effect with respect to a liquidation proceeding 
under the Securities Investor Protection Act of 1970 that--
            (1) was in progress on the date of the enactment of this 
        Act; or
            (2) is initiated after the date of the enactment of this 
        Act.
Equitable Treatment of Investors Act - Amends the Securities Investor Protection Act of 1970 to revise the definition of "net equity."

Declares also that, in determining net equity, the positions, options, and contracts of a customer held by the debtor, and any indebtedness of the customer to the debtor, shall be determined based on: (1) the information contained in the last statement received by the customer from the debtor before the filing date; and (2) any additional specific confirmations of the customer's positions, options, contracts, or indebtedness received after such last statement but before the filing date.

Prohibits reliance on the final statement of the debtor to customer, however, if the customer: (1) knew the debtor was involved in fraudulent activity with respect to any of its customers; or (2) as a registrant under the securities laws, or a person required to be so registered, knew, or should have known, that the debtor was involved in such a fraudulent activity and did not notify the Securities Investor Protection Corporation (SIPC), the Securities Exchange Commission (SEC), or law enforcement personnel that the debtor was so involved.

Prohibits a trustee in a liquidation proceeding from recovering any property transferred by the debtor to a customer before the filing date unless, at the time of such transfer, the customer meets the same critieria.

Transfers from SIPC to the SEC authority to nominate to a court persons for appointment as trustee for the liquidation of a debtor's business and as attorney for the trustee.

SECTION 1. SHADOW MASK STEEL.

    Chapter 72 of the Harmonized Tariff Schedule of the United States 
is amended as follows:
            (1) Such chapter is amended by striking subheading 
        7209.18.25 and inserting the following new subheadings, with 
        the article descriptions for such subheadings having the same 
        degree of indentation as the article description for subheading 
        7211.23.15:

      

``                           Other:                                                                             
                              Of a thickness                                                                    
                               of less than                                                                     
                               0.361mm                                                                          
                               (blackplate):                                                                    
         7209.18.25            Of a kind for                                                                    
                                use in making                                                                   
                                aperture                                                                        
                                masks for                                                                       
                                cathode-ray                                                                     
                                tube video                                                                      
                                displays.....  Free                 Free (E, IL, J)                             
                                                                     Free (CA) Free                             
                                                                     (MX)                28%                    
         7209.18.30            Other.........  2.2%                 Free (E, IL, J)                             
                                                                     0.3% (CA) 1.9%                             
                                                                     (MX)                20%                    
                                                                                                                
                                                                                                              ''

            (2) Such chapter is amended by striking subheading 
        7211.23.60 and inserting the following new subheadings, with 
        the article descriptions for subheadings 7211.23.60 and 
        7211.23.65 having the same degree of indentation as the article 
        description for subheading 7211.23.45:

      

``                           Other:                                                                             
         7211.23.60           Of a thickness                                                                    
                               exceeding                                                                        
                               1.25mm........  3.6%                 Free (E, IL, J)                             
                                                                     0.2% (CA) 1.4%                             
                                                                     (MX)                25%                    
         7211.23.65           Of a thickness                                                                    
                               exceeding                                                                        
                               0.25mm but not                                                                   
                               exceeding                                                                        
                               1.25mm........  3.6%                 Free (E, IL, J)                             
                                                                     0.2% (CA) 1.4%                             
                                                                     (MX)                25%                    
                              Of a thickness                                                                    
                               not exceeding                                                                    
                               0.25mm:                                                                          
         7211.23.70            Of a kind for                                                                    
                                use in making                                                                   
                                aperture                                                                        
                                masks for                                                                       
                                cathode-ray                                                                     
                                tube video                                                                      
                                displays.....  Free                 Free (E, IL, J)                             
                                                                     Free (CA) Free                             
                                                                     (MX)                28%                    
         7211.23.75            Other.........  3.6%                 Free (E, IL, J)                             
                                                                     0.2% (CA) 1.4%                             
                                                                     (MX)                25%                    
                                                                                                                
                                                                                                              ''

            (3) Such chapter is amended by striking subheading 
        7225.50.80 and inserting the following new subheadings, with 
        the article descriptions for subheading 7225.50.80 having the 
        same degree of indentation as the article description for 
        subheading 7211.23.15:
      

``                           Other:                                                                             
         7225.50.80           Of high-nickel                                                                    
                               alloy steel...  2.8%                 Free (E, IL, J)                             
                                                                     0.4% (CA) 2.4%                             
                                                                     (MX)                28%                    
                              Other:                                                                            
         7225.50.85            Of a kind for                                                                    
                                use in making                                                                   
                                aperture                                                                        
                                masks for                                                                       
                                cathode-ray                                                                     
                                tube video                                                                      
                                displays.....  Free                 Free (E, IL, J)                             
                                                                     Free (CA) Free                             
                                                                     (MX)                28%                    
         7225.50.90            Other:          2.8%                 Free (E, IL, J)      28%                    
                                                                     0.4% (CA) 2.4%                             
                                                                     (MX)                                     ''


SEC. 2. APPLICABILITY.

    The amendments made by section 1 shall apply with respect to goods 
entered, or withdrawn from warehouse for consumption, on or after the 
15th day after the date of the enactment of this Act.

Amends the Harmonized Tariff Schedule of the United States to grant duty-free treatment of certain shadow mask steel used in making aperture masks for cathode-ray tube video displays.  Decreases the column one duty on other type shadow mask steel, while setting a duty on certain other shadow mask steel.