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

[EX Q]: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Film Incentive Reform Act of 2014''.

SEC. 2. MODIFICATION AND EXTENSION OF ELECTION TO EXPENSE THE COST OF 
              QUALIFIED FILM, TELEVISION, AND THEATRICAL PRODUCTIONS.

    (a) Extension.--Section 181(f) of the Internal Revenue Code of 1986 
is amended by striking ``December 31, 2013'' and inserting ``December 
31, 2015''.
    (b) Modification of Qualified Film, Television and Theatrical 
Productions to Which Section Applies.--
            (1) In general.--Section 181(d) of such Code is amended to 
        read as follows:
    ``(d) Qualified Film, Television, or Theatrical Production.--For 
purposes of this section--
            ``(1) In general.--The term `qualified film, television, or 
        theatrical production' means--
                    ``(A) any film or television production if 100 
                percent of the total compensation of the film or 
                television production is compensation for services 
                performed in the United States, and
                    ``(B) any theatrical production if 75 percent of 
                the total compensation of the theatrical production is 
                qualified compensation.
            ``(2) Film or television production.--
                    ``(A) In general.--The term `film or television 
                production' means property described in section 
                168(f)(3).
                    ``(B) Special rule for television series.--In the 
                case of a television series--
                            ``(i) each episode of such series shall be 
                        treated as a separate production, and
                            ``(ii) only the first 44 episodes of such 
                        series shall be taken into account.
            ``(3) Theatrical production.--
                    ``(A) In general.--The term `theatrical production' 
                means a live staged production of a play (with or 
                without music) which is derived from a written book or 
                script and is produced or presented in any venue which 
                has an audience capacity of not more than 3,000 or a 
                series of venues the majority of which have an audience 
                capacity of not more than 3,000.
                    ``(B) Touring companies.--In the case of multiple 
                live staged productions for which an election under 
                this section is made by the same taxpayer and which 
                are--
                            ``(i) separate phases of a production, or
                            ``(ii) separate simultaneous stagings of 
                        the same production in different geographical 
                        locations (not including multiple performance 
                        locations of any one touring production),
                each such live staged production shall be treated as a 
                separate production.
                    ``(C) Phases.--For purposes of subparagraph (B), 
                the term `phase' refers to each of the following (but 
                only if the taxpayer treats each of the following as a 
                separate activity for all purposes of this title):
                            ``(i) The initial staging of the 
                        production.
                            ``(ii) Subsequent additional stagings or 
                        tourings of the production which are produced 
                        by the same producer as the initial staging.
                    ``(D) Qualified compensation.--
                            ``(i) In general.--For purposes of 
                        paragraph (1)(B), the term `qualified 
                        compensation' means compensation for services 
                        performed in the United States by actors, 
                        directors, musicians, producers, and other 
                        production and post-production personnel.
                            ``(ii) Participations and residuals 
                        excluded.--For purposes of paragraph (1)(B) and 
                        clause (i), the term `compensation' does not 
                        include participations and residuals (as 
                        defined in section 167(g)(7)(B)).
            ``(4) Exception.--The term `qualified film, television, or 
        theatrical production' shall not include any production if 
        records are required under section 2257 of title 18, United 
        States Code, to be maintained with respect to any performer in 
        such production.''.
            (2) Conforming amendments.--
                    (A) Subsections (a)(1), (a)(2)(A), (a)(2)(B), (b), 
                and (c)(1) of section 181 of such Code are each amended 
                by striking ``any qualified film or television 
                production'' and inserting ``any qualified film, 
                television, or theatrical production''.
                    (B) Section 181(f) of such Code is amended by 
                striking ``qualified film and television productions'' 
                and inserting ``any qualified film, television, or 
                theatrical production''.
                    (C) The heading of section 181 is amended by 
                striking ``qualified film and television productions'' 
                and inserting ``qualified film, television, and 
                theatrical productions''.
                    (D) The item relating to section 181 in the table 
                of sections for part VI of subchapter B of chapter 1 of 
                such Code is amended to read as follows:

``Sec. 181. Treatment of certain qualified film, television, and 
                            theatrical productions.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to qualified film, television, and theatrical productions 
commencing after December 31, 2013.
[EX A]: Film Incentive Reform Act of 2014 - Amends the Internal Revenue Code to: (1) extend through 2015 the election to expense the cost of qualified film, television, and theatrical productions; and (2) include theatrical productions in such expensing allowance. Defines "theatrical production" as a live staged production of a play derived from a written book or script and&nbsp;produced or presented in any venue which has an audience capacity of more than 3,000.

[EX Q]: 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.
[EX A]: 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.

[EX Q]: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Arapaho-Roosevelt National Forests 
Land Exchange Act of 2007''.

SEC. 2. FINDINGS.

    The Congress finds the following:
            (1) Since 1967, the Sugar Loaf Fire Protection District, 
        located west of Boulder, Colorado, has owned and operated two 
        fire stations on National Forest System land pursuant to 
        special use permits issued by the Forest Service.
            (2) The Sugar Loaf Fire Protection District seeks ownership 
        of the land on which the fire stations are situated so that the 
        District can establish an area for fire fighter training, 
        install bathroom facilities in the stations, and expand the 
        stations in the future.
            (3) The National Forest System land containing the fire 
        stations consists of approximately 5.08 acres and are of 
        limited utility for public administration, recreation, or any 
        other use since the land has been occupied by the stations for 
        30 years.
            (4) The Sugar Loaf Fire Protection District owns a parcel 
        of non-Federal land consisting of approximately 5.17 acres that 
        the District is willing to convey to the United States in 
        exchange for the National Forest System land containing the 
        fire stations.
            (5) The non-Federal land offered by the Sugar Loaf Fire 
        Protection District, if conveyed to the United States, is 
        suitable for addition to the Arapaho-Roosevelt National 
        Forests, will eliminate an isolated inholding in the National 
        Forests, result in administrative cost savings to the United 
        States by reducing costs of forest boundary administration, and 
        provide the United States with environmental and public 
        recreational use benefits that greatly exceed the benefits of 
        the National Forest System land containing the fire stations.
            (6) It is in the public interest to direct, expedite, and 
        facilitate completion of a land exchange involving these 
        Federal and non-Federal lands to enable the Sugar Loaf Fire 
        Protection District to better provide fire protection services 
        for residents of the District, residents of neighboring 
        districts and persons who travel through the District on 
        Colorado Highway 119, and National Forest System land within or 
        adjacent to the District.

SEC. 3. LAND EXCHANGE, ARAPAHO-ROOSEVELT NATIONAL FORESTS, COLORADO.

    (a) Conveyance of Non-Federal Land.--The land exchange directed by 
this section shall proceed if, within 30 days after the date of the 
enactment of this Act, the Sugar Loaf Fire Protection District of 
Boulder, Colorado (in this section referred to as the ``District''), 
offers to convey title acceptable to the United States in and to a 
parcel of land consisting of approximately 5.17 acres located in 
unincorporated Boulder County, Colorado, between the communities of 
Boulder and Nederland, as depicted on a map entitled ``Non-Federal 
Lands--Hibernian Load'' and dated November, 2006.
    (b) Conveyance of Federal Land.--Upon receipt of acceptable title 
in and to the non-Federal lands identified in subsection (a), the 
Secretary of Agriculture shall convey to the District all right, title, 
and interest of the United States in and to a parcel of National Forest 
System land within the Arapaho-Roosevelt National Forests, Colorado, 
consisting of approximately 5.08 acres, as generally depicted on maps 
entitled ``Sugar Loaf Federal Lands--Station 1'' and ``Sugar Loaf 
Federal Lands--Station 2'', and dated November 2006.
    (c) Appraisals.--The values of the non-Federal land identified in 
subsection (a) and the Federal lands identified in subsection (b) shall 
be determined by the Secretary through appraisals performed in 
accordance with the Uniform Appraisal Standards for Federal Land 
Acquisitions (December 20, 2000) and the Uniform Standards of 
Professional Appraisal Practice. The encumbrance on the Federal land 
granted by subsection (g) before its conveyance shall not be considered 
for purposes of the appraisal of the land.
    (d) Valuation.--
            (1) Surplus of non-federal value.--If the final appraised 
        value, as approved by the Secretary, of the non-Federal lands 
        identified in subsection (a) exceeds the final appraised value, 
        as approved by the Secretary, of the Federal land identified in 
        subsection (b), the values may be equalized--
                    (A) by reducing the acreage of the non-Federal 
                lands to be conveyed, as determined appropriate and 
                acceptable by the Secretary and the District;
                    (B) by the Secretary making a cash equalization 
                payment to the District, including a cash equalization 
                payment in excess of the amount authorized by section 
                206(b) of the Federal Land Policy and Management Act of 
                1976 (43 U.S.C. 1716(b)); or
                    (C) by a combination of acreage reduction and cash 
                equalization payment.
            (2) Surplus of federal value.--If the final appraised 
        value, as approved by the Secretary, of the Federal land 
        identified in subsection (b) exceeds the final appraised value, 
        as approved by the Secretary, of the non-Federal lands 
        identified in subsection (a), and the Secretary declines to 
        accept the non-Federal lands because of inadequate appraised 
        value, the District shall make a cash equalization payment to 
        the Secretary in such amount as may be necessary to equalize 
        the values of the lands to be exchanged.
    (e) Exchange Costs.--As a condition on the land exchange under this 
section and in order to expedite the land exchange and to save 
administrative costs to the United States, the District shall be 
required to cover the costs of the following:
            (1) Any necessary land surveys of the Non-Federal land or 
        Federal land to be exchanged.
            (2) The appraisals under subsection (c).
    (f) Completion of Exchange.--It is the sense of Congress that the 
land exchange directed by this section should be completed not later 
than 120 days after the date of the enactment of this Act.
    (g) Interim Use of Federal Land.--Pending completion of the land 
exchange directed by this section, the District may commence 
modification of the fire stations located on the Federal land 
identified in subsection (b) without further action or authorization by 
the Secretary, except that, before initiating any construction in 
connection with the modifications, the District shall execute and 
submit to the Secretary a legal document that--
            (1) permanently holds the United States harmless for any 
        and all liability arising from the construction;
            (2) indemnifies the United States against any costs arising 
        from the United States' ownership of the Federal land and any 
        actions, operations, or other acts of the District or its 
        licensees, employees, or agents in undertaking the construction 
        or engaging in other acts on the Federal land before its 
        conveyance to the District.
    (h) Alternative Sale Authority.--If the land exchange directed by 
this section is not completed for any reason, the Secretary may sell 
the Federal land identified in subsection (b) to the District at its 
final appraised value, as determined under subsection (c).
    (i) Use of Proceeds.--Any consideration received under subsection 
(h) and any cash equalization payment received under subsection (d)(2) 
shall be deposited in the fund established by Public Law 90-171 
(commonly known as the Sisk Act; 16 U.S.C. 484a). The amount so 
deposited shall be available to the Secretary, without further 
appropriation, for expenditure for the acquisition of land and 
interests in land for addition to the National Forest System in the 
State of Colorado.
    (j) Incorporation, Management, and Status of Acquired Land.--The 
non-Federal land identified in subsection (a) acquired by the United 
States in the land exchange shall become part of the Arapaho-Roosevelt 
National Forests, and the boundary of such national forests is 
modified, without further action by the Secretary, to incorporate the 
non-Federal land. Upon its acquisition, the land shall be administered 
in accordance with the laws generally applicable to the National Forest 
System. For purposes of section 7 of the Land and Water Conservation 
Fund Act of l965 (16 U.S.C. 460l-9), the boundaries of the Arapaho-
Roosevelt National Forests, as modified by this subsection, shall be 
deemed to be the boundaries of such national forests as of January 1, 
1965.
    (k) Technical Corrections.--The Secretary, with the agreement of 
the District, may make technical corrections or correct clerical errors 
in the maps referred to in this section or adjust the boundaries of the 
Arapaho-Roosevelt National Forests to leave the United States with a 
manageable post-exchange or sale boundary. In the event of any 
discrepancy between a map, acreage estimate, or legal description, the 
map shall prevail unless the Secretary and the District agree 
otherwise.
    (l) Revocation of Orders and Withdrawal.--Any public orders 
withdrawing any of the Federal lands identified in subsection (b) from 
appropriation or disposal under the public land laws are hereby revoked 
to the extent necessary to permit conveyance of the Federal lands. If 
not already withdrawn or segregated from entry and appropriation under 
the public land laws, including the mining and mineral leasing laws and 
the Geothermal Steam Act of l970 (30 U.S.C. 1001 et seq.), the Federal 
land is hereby withdrawn until the date of its conveyance to the 
District.
[EX A]:
Arapaho-Roosevelt National Forests Land Exchange Act of 2007 - Directs the Secretary of Agriculture, upon receipt of acceptable title to specified land in Boulder county, Colorado, between the communities of Boulder and Nederland (the non-federal land) offered by the Sugar Loaf Fire Protection District to the United States, to convey to the District, in exchange for such non-federal land, National Forest System land within the Arapaho-Roosevelt National Forests in Colorado (the federal lands).

Permits the District, pending completion of the land exchange, to commence modification of the fire stations on the federal land.

Provides for the non-federal land to become part of the Arapaho-Roosevelt National Forests and modifies the boundary of such National Forests to incorporate such land.

Revokes any public orders withdrawing any of the federal lands from appropriation or disposal under the public land laws to the extent necessary to permit conveyance of such lands.