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

Example Input: SECTION 1. SHORT TITLE.

        This Act may be cited as the ``Gun Crime Enforcement and Second 
Amendment Restoration Act of 1996''.

SEC. 2. FINDINGS.

        The Congress finds the following:
            (1) One of the primary duties of government is to protect 
        its citizens from armed violent criminals. America's cherished 
        liberty and the social and economic prosperity of its 
        communities are dependent upon government's ability to maintain 
        public safety.
            (2) Criminals, by definition, operate outside the law and 
        routinely acquire firearms when they so desire. Banning 
        specific types of firearms has no effect on the moral behavior 
        of those who choose to inflict harm on innocent citizens.
            (3) The most effective way to protect the public from gun-
        wielding violent criminals is to arrest, convict, and 
        incarcerate such predators, and to ensure that they serve 
        sentences of sufficient length to prevent them from returning 
        quickly to the streets.

SEC. 3. ARMED VIOLENT CRIMINAL APPREHENSION DIRECTIVE.

        (a) In General.--Not later than 180 days after the date of the 
enactment of this Act, the Attorney General of the United States shall 
establish an armed violent criminal apprehension program consistent 
with the following requirements:
            (1) Each United States attorney shall designate at least 1 
        assistant United States attorney to prosecute armed violent 
        criminals.
            (2) Each United States attorney shall establish an armed 
        violent criminal apprehension task force comprised of 
        appropriate law enforcement representatives. The task force 
        shall develop strategies for removing armed violent criminals 
        from the streets, taking into consideration--
                    (A) the importance of severe punishment in 
                deterring armed violent crime;
                    (B) the effectiveness of Federal and State laws 
                pertaining to apprehension and prosecution of armed 
                violent criminals;
                    (C) the resources available to each law enforcement 
                agency participating in the task force;
                    (D) the nature and extent of the violent crime 
                occurring in the district for which the United States 
                attorney is appointed; and
                    (E) the principle of limited Federal involvement in 
                the prosecution of crimes traditionally prosecuted in 
                State and local jurisdictions.
            (3) Not less frequently than monthly, the Attorney General 
        shall require each United States attorney to report to the 
        Department of Justice the number of defendants charged with, or 
        convicted of, violating section 922(g) or 924 of title 18, 
        United States Code, in the district for which the United States 
        attorney is appointed.
            (4) Not less frequently than twice annually, the Attorney 
        General shall submit to the Congress a compilation of the 
        information received by the Department of Justice pursuant to 
        paragraph (3) and a report on all waivers granted under 
        subsection (b).
        (b) Waiver Authority.--
            (1) Request for waiver.--A United States attorney may 
        request the Attorney General to waive the requirements of 
        subsection (a) with respect to the United States attorney.
            (2) Provision of waiver.--The Attorney General may waive 
        the requirements of subsection (a) pursuant to a request made 
        under paragraph (1), in accordance with guidelines which shall 
        be established by the Attorney General. In establishing the 
        guidelines, the Attorney General shall take into consideration 
        the number of assistant United States attorneys in the office 
        of the United States attorney making the request and the level 
        of violent crime committed in the district for which the United 
        States attorney is appointed.
        (c) Armed Violent Criminal Defined.--As used in this section, 
the term ``armed violent criminal'' means a person who is accused of 
violating section 922(g)(1) of title 18, United States Code, having 
been previously convicted of a violent crime, or who is accused of 
violating section 924 of such title.
        (d) Sunset.--This section shall have no force or effect after 
the 5-year period that begins 180 days after the date of the enactment 
of this Act.

SEC. 4. REPEAL OF THE PROHIBITIONS RELATING TO SEMIAUTOMATIC ASSAULT 
              WEAPONS AND LARGE CAPACITY AMMUNITION FEEDING DEVICES.

    (a) Section 922 of title 18, United States Code, is amended by 
striking subsections (v) and (w) and by striking the appendix.
    (b) Section 921(a) of such title is amended by striking paragraph 
(30).
    (c) Section 921(a)(31)(A) of such title is amended--
            (1) by striking ``manufactured after the date of enactment 
        of the Violent Crime Control and Law Enforcement Act of 1994''; 
        and
            (2) by striking ``, or that can be readily restored or 
        converted to accept,''.
    (d) Section 923(i) of such title is amended by striking the last 2 
sentences.
    (e) Section 924(a)(1)(B) of such title is amended by striking 
``(r), (v), or (w)'' and inserting ``or (r)''.
    (f) Section 110104 of the Violent Crime Control and Law Enforcement 
Act of 1994 (18 U.S.C. 921 note) is repealed.

SEC. 5. MANDATORY PRISON TERMS FOR POSSESSING, BRANDISHING, OR 
              DISCHARGING A FIREARM OR DESTRUCTIVE DEVICE DURING A 
              FEDERAL CRIME THAT IS A CRIME OF VIOLENCE OR A DRUG 
              TRAFFICKING CRIME.

    Section 924(c) of title 18, United States Code, is amended--
            (1) by redesignating paragraphs (2) and (3) as paragraphs 
        (4) and (5), respectively; and
            (2) by striking paragraph (1) and inserting the following:
    ``(1) A person who, during and in relation to any crime of violence 
or drug trafficking crime (including a crime of violence or drug 
trafficking crime which provides for an enhanced punishment if 
committed by the use of a deadly or dangerous weapon or device) for 
which the person may be prosecuted in a court of the United States--
            ``(A) possesses a firearm, shall, in addition to the 
        sentence imposed for the crime of violence or drug trafficking 
        crime, be sentenced to imprisonment for 5 years;
            ``(B) brandishes a firearm, shall, in addition to the 
        sentence imposed for the crime of violence or drug trafficking 
        crime, be sentenced to imprisonment for 10 years; or
            ``(C) discharges a firearm with the intent to injure 
        another person, shall, in addition to the sentence imposed for 
        the crime of violence or drug trafficking crime, be sentenced 
        to imprisonment for 20 years;
except that if the firearm is a short-barreled rifle or short-barreled 
shotgun, or is equipped with a large capacity ammunition feeding 
device, such additional sentence shall be imprisonment for 10 years 
more than the term of imprisonment that would otherwise be imposed 
under this paragraph, and if the firearm is a machinegun or destructive 
device or is equipped with a firearm silencer or firearm muffler, such 
additional sentence shall be imprisonment for 30 years.
    ``(2) In the case of the second or subsequent conviction of a 
person under this subsection--
            ``(A) if the person possessed a firearm during and in 
        relation to such second or subsequent crime of violence or drug 
        trafficking crime, the person shall, in addition to the 
        sentence imposed for such second or subsequent offense, be 
        sentenced to imprisonment for not less than 20 years;
            ``(B) if the person brandished a firearm during and in 
        relation to such second or subsequent crime of violence or drug 
        trafficking crime, the person shall, in addition to the 
        sentence imposed for such second or subsequent offense, be 
        sentenced to imprisonment for not less than 25 years; or
            ``(C) if the person discharged a firearm with the intent to 
        injure another person during and in relation to such second or 
        subsequent crime of violence or drug trafficking crime, the 
        person shall, in addition to the sentence imposed for such 
        second or subsequent offense, be sentenced to imprisonment for 
        not less than 30 years;
except that if the firearm is a machinegun or destructive device or is 
equipped with a firearm silencer or firearm muffler, the person shall, 
in addition to the sentence imposed for such second or subsequent 
offense, be sentenced to life imprisonment.
    ``(3)(A) Notwithstanding any other provision of law, the court 
shall not impose a probationary sentence on any person convicted of a 
violation of this subsection, nor shall a term of imprisonment imposed 
under this subsection run concurrently with any other term of 
imprisonment including that imposed for the crime of violence or drug 
trafficking crime in which the firearm was used.
    ``(B) No person sentenced under this subsection shall be released 
for any reason whatsoever during a term of imprisonment imposed under 
this subsection.''.

            Passed the House of Representatives March 22, 1996.

            Attest:

                                                ROBIN H. CARLE,

                                                                 Clerk.
Example Output: Gun Crime Enforcement and Second Amendment Restoration Act of 1996 - Directs the Attorney General to:  (1) establish an armed violent criminal apprehension program under which each U.S. attorney shall designate at least one assistant U.S. attorney to prosecute armed violent criminals and shall establish an armed violent criminal apprehension task force to develop strategies for removing armed violent criminals from the streets; (2) require each U.S. attorney to report to the Department of Justice (DOJ) monthly on the number of defendants charged with, or convicted of, violating specified offenses (such as possession of a firearm by an illegal alien and using or carrying a firearm during and in relation to any crime of violence or drug trafficking crime) ; and (3) submit to the Congress at least twice annually a compilation of the information received by DOJ and a report on all waivers granted under this Act. Authorizes a U.S. attorney to request, and the Attorney General to grant, a waiver of such requirements with respect to the U.S.  attorney.  Directs the Attorney General, in establishing guidelines for such a waiver, to consider the number of assistant U.S. attorneys in the requesting office and the level of violent crime committed in the district. Terminates such program after five years. (Sec. 4) Amends the Violent Crime Control and Law Enforcement Act of 1994 to repeal:  (1) the ban on semiautomatic assault weapons and large capacity ammunition feeding devices; and (2) a provision of such Act directing the Attorney General to study the effect of provisions related to the ban, to determine their impact on violent and drug trafficking crime, and to report to the Congress. (Sec. 5) Provides mandatory additional prison terms of:  (1) five, ten, or 20 years, respectively, for possessing, brandishing, or discharging a firearm or destructive device during a Federal crime of violence or drug trafficking crime; and (2) 20, 25, or 30 years, respectively, for second or subsequent convictions or life imprisonment for a second or subsequent offense involving a machine gun or destructive device or a firearm equipped with a silencer or muffler.  Prohibits any person who receives such an mandatory additional sentence from being released for any reason during the imposed term of imprisonment.

Example Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Childrens' Media Protection Act of 
1995''.

SEC. 2. FINDINGS.

    Congress makes the following findings:
            (1) On average, a child in the United States is exposed to 
        27 hours of television each week, and some children are exposed 
        to as much as 11 hours of television each day.
            (2) The average American child watches 8,000 murders and 
        100,000 acts of other violence on television by the time the 
        child completes elementary school.
            (3) By the age of 18 years, the average American teenager 
        has watched 200,000 acts of violence on television, including 
        40,000 murders.
            (4) The Times Mirror Center reports that a recent poll of 
        Americans indicates that 72 percent of the American people 
        believe that there is too much violence on television, and, 
        according to a survey by U.S. News and World Report dated May 
        1994, 91 percent of American voters believe that mayhem in the 
        media contributes to violence in real life.
            (5) On several occasions since 1975, The Journal of the 
        American Medical Association has alerted the medical community 
        to the adverse effects of televised violence on child 
        development, including an increase in the level of aggressive 
        behavior and violent behavior among children who view it.
            (6) The National Commission on Children recommended in 1991 
        that producers of television programs exercise greater 
        restraint in the content of programming for children.
            (7) A report of the Harry Frank Guggenheim Foundation, 
        dated May 1993, indicates that there is an irrefutable 
        connection between the amount of violence depicted in the 
        television programs watched by children and increased 
        aggressive behavior among children.
            (8) It is in the National interest that parents be 
        empowered with the technology to block the viewing of 
        television programs whose content is overly violent or 
        objectionable for other reasons.
            (9) Technology currently exists to permit the manufacture 
        of television receivers that are capable of permitting parents 
        to block television programs having violent or otherwise 
        objectionable content.

SEC. 3. ESTABLISHMENT OF TELEVISION VIOLENCE RATING CODE.

    Section 303 of the Communications Act of 1934 (47 U.S.C. 303) is 
amended by adding at the end the following:
    ``(v) Prescribe, in consultation with television broadcasters, 
cable operators, appropriate public interest groups, and interested 
individuals from the private sector, rules for rating the level of 
violence in television programming, including rules for the 
transmission by television broadcast systems and cable systems of 
signals containing specifications for blocking violent programming.''.

SEC. 4. REQUIREMENT FOR MANUFACTURE OF TELEVISIONS THAT BLOCK PROGRAMS.

    Section 303 of the Communications Act of 1934 (47 U.S.C. 303), as 
amended by section 3, is further amended by adding at the end the 
following:
    ``(w) Require, in the case of apparatus designed to receive 
television signals that are manufactured in the United States or 
imported for use in the United States and that have a picture screen 13 
inches or greater in size (measured diagonally), that such apparatus--
            ``(1) be equipped with circuitry designed to enable viewers 
        to block the display of channels, programs, and time slots; and
            ``(2) enable viewers to block display of all programs with 
        a common rating.''.

SEC. 5. SHIPPING OR IMPORTING OF TELEVISIONS THAT BLOCK PROGRAMS.

    (a) Regulations.--Section 330 of the Communications Act of 1934 (47 
U.S.C. 330) is amended--
            (1) by redesignating subsection (c) as subsection (d); and
            (2) by adding after subsection (b) the following new 
        subsection (c):
    ``(c)(1) Except as provided in paragraph (2), no person shall ship 
in interstate commerce, manufacture, assemble, or import from any 
foreign country into the United States any apparatus described in 
section 303(w) of this Act except in accordance with rules prescribed 
by the Commission pursuant to the authority granted by that section.
    ``(2) This subsection shall not apply to carriers transporting 
apparatus referred to in paragraph (1) without trading it.
    ``(3) The rules prescribed by the Commission under this subsection 
shall provide performance standards for blocking technology. Such rules 
shall require that all such apparatus be able to receive the rating 
signals which have been transmitted by way of line 21 of the vertical 
blanking interval and which conform to the signal and blocking 
specifications established by the Commission.
    ``(4) As new video technology is developed, the Commission shall 
take such action as the Commission determines appropriate to ensure 
that blocking service continues to be available to consumers.''.
    (b) Conforming Amendment.--Section 330(d) of such Act, as 
redesignated by subsection (a)(1), is amended by striking ``section 
303(s), and section 303(u)'' and inserting in lieu thereof ``and 
sections 303(s), 303(u), and 303(w)''.

SEC. 6. ELIMINATION OF VIOLENT PROGRAMMING ON TELEVISION DURING CERTAIN 
              HOURS.

    Title I of the Children's Television Act of 1990 (47 U.S.C. 303a et 
seq.) is amended by adding at the end the following:

                  ``prohibition on violent programming

    ``Sec. 105. (a) The Commission shall, within 30 days of the date of 
the enactment of this Act, initiate a rule-making proceeding to 
prescribe a prohibition on the broadcast on commercial television and 
by public telecommunications entities, including the broadcast by cable 
operators, from the hours of 6 a.m. to 10 p.m., inclusive, of 
programming that contains gratuitous violence.
    ``(b) As used in this section:
            ``(1) The term `cable operator' has the meaning given such 
        term in section 602 of the Communications Act of 1934 (47 
        U.S.C. 522).
            ``(2) The term `programming' includes advertisements but 
        does not include bona fide newscasts, bona fide news 
        interviews, bona fide news documentaries, and on-the-spot 
        coverage of bona fide news events.
            ``(3) The term `public telecommunications entity' has the 
        meaning given such term in section 397(12) of the 
        Communications Act of 1934 (47 U.S.C. 397(12)).''.

SEC. 7. BROADCAST ON TELEVISION AND CABLE OF EDUCATIONAL AND 
              INFORMATIONAL PROGRAMMING FOR CHILDREN.

    (a) Broadcast Television.--Section 309 of the Communications Act of 
1934 (47 U.S.C. 309) is amended by adding at the end the following:
    ``(k) Educational and Information Programming for Children.--In 
granting an application for a license for a television broadcasting 
station (including an application for renewal of such a license), the 
Commission shall impose such conditions upon the applicant as the 
Commission requires in order to ensure that the applicant complies 
under the license with the standards for children's television 
programming established under section 102 of the Children's Television 
Act of 1990 (47 U.S.C. 303a) and otherwise serves the educational and 
informational needs of children through its overall programming.''.
    (b) Cable Service.--Part III of title VI of the Communications Act 
of 1934 (47 U.S.C. 541 et seq.) is amended by adding at the end the 
following:

         ``educational and information programming for children

    ``Sec. 629. A franchise, including the renewal of a franchise, may 
not be awarded under this part unless the cable operator to be awarded 
the franchise agrees to comply with the standards for children's 
television programming established under section 102 of the Children's 
Television Act of 1990 (47 U.S.C. 303a) and to otherwise serve the 
educational and informational needs of children in the provision of 
cable service under the franchise.''.
Example Output: Childrens' Media Protection Act of 1995 - Amends the Communications Act of 1934 to direct the Federal Communications Commission (FCC) to: (1)  prescribe rules for the rating of violence levels in television programming, including rules for the transmission of signals containing specifications for blocking violent programming; and (2) require television sets with picture screens of 13 inches or more to be equipped with blocking circuitry and enable viewers to block display of all programs with a common rating.  Prohibits any person from shipping, manufacturing, assembling, or importing any television not so equipped.  Requires performance standards for blocking technology. 
(Sec. 6) Directs the FCC to initiate a rulemaking proceeding to prescribe a prohibition on the broadcast on commercial television and any public telecommunications entities between six o'clock a.m. and ten o'clock p.m., inclusively, of programming that contains gratuitous violence. 
(Sec. 7) Directs the FCC, in granting an application for a television broadcast license, to impose conditions which ensure that the applicant complies with the standards for children's television programming as established under the Children's Television Act of 1990 and otherwise serves the educational and informational needs of children through its overall programming.  Prohibits a cable franchise award or renewal unless the cable operator complies with such standards.

Example Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Tech Bond Initiative of 2001''.

SEC. FINDINGS.

    Congress finds the following:
            (1) Access to high-speed Internet is as important to 21st 
        Century businesses as access to the railroads meant to 
        businesses of the last century.
            (2) In States across the Nation, up to one-third of the 
        population lacks access to high-speed Internet.
            (3) Companies without access to high-speed Internet are at 
        a competitive disadvantage.
            (4) Tech bonds would give State and local governments 
        incentives to expand broadband deployment in their communities.

SEC. 2. CREDIT TO HOLDERS OF QUALIFIED TECHNOLOGY BONDS.

    (a) In General.--Part IV of subchapter A of chapter 1 of the 
Internal Revenue Code of 1986 (relating to credits against tax) is 
amended by adding at the end the following new subpart:

 ``Subpart H--Nonrefundable Credit for Holders of Qualified Technology 
                                 Bonds

                              ``Sec. 54. Credit to holders of qualified 
                                        technology bonds.

``SEC. 54. CREDIT TO HOLDERS OF QUALIFIED TECHNOLOGY BONDS.

    ``(a) Allowance of Credit.--In the case of a taxpayer who holds a 
qualified technology bond on a credit allowance date of such bond which 
occurs during the taxable year, there shall be allowed as a credit 
against the tax imposed by this chapter for such taxable year the 
amount determined under subsection (b).
    ``(b) Amount of Credit.--
            ``(1) In general.--The amount of the credit determined 
        under this subsection with respect to any qualified technology 
        bond is the amount equal to the product of--
                    ``(A) the credit rate determined by the Secretary 
                under paragraph (2) for the month in which such bond 
                was issued, multiplied by
                    ``(B) the face amount of the bond held by the 
                taxpayer on the credit allowance date.
            ``(2) Determination.--During each calendar month, the 
        Secretary shall determine a credit rate which shall apply to 
        bonds issued during the following calendar month. The credit 
        rate for any month is the percentage which the Secretary 
        estimates will permit the issuance of qualified technology 
        bonds without discount and without interest cost to the issuer.
    ``(c) Limitation Based on Amount of Tax.--The credit allowed under 
subsection (a) for any taxable year shall not exceed the excess of--
            ``(1) the sum of the regular tax liability (as defined in 
        section 26(b)) plus the tax imposed by section 55, over
            ``(2) the sum of the credits allowable under this part 
        (other than this subpart and subpart C).
    ``(d) Qualified Technology Bond.--For purposes of this part--
            ``(1) In general.--The term `qualified technology bond' 
        means any bond issued as part of an issue if--
                    ``(A) 95 percent or more of the proceeds of such 
                issue are to be used for any qualified project,
                    ``(B) the bond is issued by a State or local 
                government within the jurisdiction of which such 
                project is located,
                    ``(C) the issuer designates such bond for purposes 
                of this section,
                    ``(D) certifies that it has obtained the written 
                approval of the Secretary of Commerce for such project, 
                and
                    ``(E) the term of each bond which is part of such 
                issue does not exceed 15 years.
            ``(2) Qualified project.--
                    ``(A) In general.--The term `qualified project' 
                means a project--
                            ``(i) to expand broadband 
                        telecommunications services in an area within 
                        the jurisdiction of a State or local 
                        government,
                            ``(ii) which is nominated by such State or 
                        local government for designation as a qualified 
                        project, and
                            ``(iii) which the Secretary of Commerce, 
                        after consultation with the Secretary of 
                        Housing and Urban Development designates as a 
                        qualified project.
                    ``(B) Designation preferences.--With respect to 
                designations under this section, preferences shall be 
                given to--
                            ``(i) nominations of projects involving 
                        underserved or rural areas lacking access to 
                        high-speed Internet connections, and
                            ``(ii) nominations reflecting partnerships 
                        and comprehensive planning between State and 
                        local governments and the private sector.
    ``(e) Limitation on Amount of Bonds Designated.--
            ``(1) National limitation.--There is a national technology 
        bond limitation for each calendar year. Such limitation is 
        $100,000,000 for 2002, 2003, 2004, 2005, and 2006, and, except 
        as provided in paragraph (4), zero thereafter.
            ``(2) Allocation of limitation.--The national technology 
        bond limitation for a calendar year shall be allocated by the 
        Secretary among the qualified projects designated for such 
        year.
            ``(3) Designation subject to limitation amount.--The 
        maximum aggregate face amount of bonds issued during any 
        calendar year which may be designated under subsection (d)(1) 
        with respect to any qualified project shall not exceed the 
        limitation amount allocated to such project under paragraph (2) 
        for such calendar year.
            ``(4) Carryover of unused limitation.--If for any calendar 
        year--
                    ``(A) the national technology limitation amount, 
                exceeds
                    ``(B) the amount of bonds issued during such year 
                which are designated under subsection (d)(1) with 
                respect to qualified projects,
        the national technology limitation amount for the following 
        calendar year shall be increased by the amount of such excess.
    ``(f) Other Definitions.--For purposes of this subpart--
            ``(1) Bond.--The term `bond' includes any obligation.
            ``(2) Credit allowance date.--The term `credit allowance 
        date' means, with respect to any issue, the last day of the 1-
        year period beginning on the date of issuance of such issue and 
        the last day of each successive 1-year period thereafter.
            ``(3) State.--The term `State' means the several States and 
        the District of Columbia.
    ``(g) Credit Included in Gross Income.--Gross income includes the 
amount of the credit allowed to the taxpayer under this section 
(determined without regard to subsection (c)) and the amount so 
included shall be treated as interest income.
    ``(h) Other Special Rules.--
            ``(1) Partnership; s corporation; and other pass-thru 
        entities.--Under regulations prescribed by the Secretary, in 
        the case of a partnership, trust, S corporation, or other pass-
        thru entity, rules similar to the rules of section 41(g) shall 
        apply with respect to the credit allowable under subsection 
        (a).
            ``(2) Bonds held by regulated investment companies.--If any 
        qualified technology bond is held by a regulated investment 
        company, the credit determined under subsection (a) shall be 
        allowed to shareholders of such company under procedures 
        prescribed by the Secretary.
            ``(3) Treatment for estimated tax purposes.--Solely for 
        purposes of sections 6654 and 6655, the credit allowed by this 
        section to a taxpayer by reason of holding a qualified 
        technology bond on a credit allowance date shall be treated as 
        if it were a payment of estimated tax made by the taxpayer on 
        such date.
            ``(4) Reporting.--Issuers of qualified technology bonds 
        shall submit reports similar to the reports required under 
        section 149(e).''.
    (b) Reporting.--Subsection (d) of section 6049 of the Internal 
Revenue Code of 1986 (relating to returns regarding payments of 
interest) is amended by adding at the end the following new paragraph:
            ``(8) Reporting of credit on qualified technology bonds.--
                    ``(A) In general.--For purposes of subsection (a), 
                the term `interest' includes amounts includible in 
                gross income under section 54(g) and such amounts shall 
                be treated as paid on the credit allowance date (as 
                defined in section 54(f)(2)).
                    ``(B) Reporting to corporations, etc.--Except as 
                otherwise provided in regulations, in the case of any 
                interest described in subparagraph (A) of this 
                paragraph, subsection (b)(4) of this section shall be 
                applied without regard to subparagraphs (A), (H), (I), 
                (J), (K), and (L)(i).
                    ``(C) Regulatory authority.--The Secretary may 
                prescribe such regulations as are necessary or 
                appropriate to carry out the purposes of this 
                paragraph, including regulations which require more 
                frequent or more detailed reporting.''.
    (c) Clerical Amendments.--
            (1) The table of subparts for part IV of subchapter A of 
        chapter 1 of the Internal Revenue Code of 1986 is amended by 
        adding at the end the following new item:

                              ``Subpart H. Nonrefundable Credit for 
                                        Holders of Qualified Technology 
                                        Bonds.''.
            (2) Section 6401(b)(1) of such Code is amended by striking 
        ``and G'' and inserting ``G, and H''.
    (d) Effective Date.--The amendments made by this section shall 
apply to obligations issued after December 31, 2001.
Example Output:
Tech Bond Initiative of 2001 - Amends the Internal Revenue Code to create a limited credit for the holder of a "qualified technology bond" (as defined).