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 Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Municipal Bond Market Support Act of 
2008''.

SEC. 2. MODIFICATION OF SMALL ISSUER EXCEPTION TO TAX-EXEMPT INTEREST 
              EXPENSE ALLOCATION RULES FOR FINANCIAL INSTITUTIONS.

    (a) Increase in Limitation.--Subparagraphs (C)(i), (D)(i), and 
(D)(iii)(II) of section 265(b)(3) of the Internal Revenue Code of 1986 
are each amended by striking ``$10,000,000'' and inserting 
``$30,000,000''.
    (b) Repeal of Aggregation Rules Applicable to Small Issuer 
Determination.--Paragraph (3) of section 265(b) of such Code is amended 
by striking subparagraphs (E) and (F).
    (c) Election To Apply Limitation at Borrower Level.--Paragraph (3) 
of section 265(b) of such Code, as amended by subsection (b), is 
amended by adding at the end the following new subparagraph:
                    ``(E) Election to apply limitation on amount of 
                obligations at borrower level.--
                            ``(i) In general.--An issuer, the proceeds 
                        of the obligations of which are to be used to 
                        make or finance eligible loans, may elect to 
                        apply subparagraphs (C) and (D) by treating 
                        each borrower as the issuer of a separate 
                        issue.
                            ``(ii) Eligible loan.--For purposes of this 
                        subparagraph--
                                    ``(I) In general.--The term 
                                `eligible loan' means one or more loans 
                                to a qualified borrower the proceeds of 
                                which are used by the borrower and the 
                                outstanding balance of which in the 
                                aggregate does not exceed $30,000,000.
                                    ``(II) Qualified borrower.--The 
                                term `qualified borrower' means a 
                                borrower which is an organization 
                                described in section 501(c)(3) and 
                                exempt from taxation under section 
                                501(a) or a State or political 
                                subdivision thereof.
                            ``(iii) Manner of election.--The election 
                        described in clause (i) may be made by an 
                        issuer for any calendar year at any time prior 
                        to its first issuance during such year of 
                        obligations the proceeds of which will be used 
                        to make or finance one or more eligible 
                        loans.''.
    (d) Inflation Adjustment.--Paragraph (3) of section 265(b) of such 
Code, as amended by subsections (b) and (c), is amended by adding at 
the end the following new subparagraph:
                    ``(F) Inflation adjustment.--In the case of any 
                calendar year after 2009, the $30,000,000 amounts 
                contained in subparagraphs (C)(i), (D)(i), 
                (D)(iii)(II), and (E)(ii)(I) shall each be increased by 
                an amount equal to--
                            ``(i) such dollar amount, multiplied by
                            ``(ii) the cost-of-living adjustment 
                        determined under section 1(f)(3) for such 
                        calendar year, determined by substituting 
                        `calendar year 2008' `for calendar year 1992' 
                        in subparagraph (B) thereof.
                Any increase determined under the preceding sentence 
                shall be rounded to the nearest multiple of 
                $100,000.''.
    (e) Effective Date.--The amendments made by this section shall 
apply to obligations issued after December 31, 2008.

SEC. 3. DE MINIMIS SAFE HARBOR EXCEPTION FOR TAX-EXEMPT INTEREST 
              EXPENSE OF FINANCIAL INSTITUTIONS AND BROKERS.

    (a) Financial Institutions.--Subsection (b) of section 265 of the 
Internal Revenue Code of 1986 is amended by adding at the end the 
following new paragraph:
            ``(7) De minimis exception.--Paragraph (1) shall not apply 
        to any financial institution if the portion of the taxpayer's 
        holdings of tax-exempt securities is less than 2 percent of the 
        taxpayer's assets.''.
    (b) Brokers.--Subsection (a) of section 265 of the Internal Revenue 
Code of 1986 is amended by adding at the end the following new 
paragraph:
            ``(7) De minimis exception.--Paragraph (2) shall not apply 
        to any broker (as defined in section 6045(c)(1)) if the portion 
        of the taxpayer's holdings of tax-exempt securities is less 
        than 2 percent of the taxpayer's assets.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.

Ex Output:
Municipal Bond Market Support Act of 2008 - Amends Internal Revenue Code provisions relating to the small issuer exemption from interest expense allocation rules for financial institutions to: (1) increase from $10 to $30 million the annual limit on small issuers of tax-exempt municipal bonds; (2) allow an inflation adjustment to such increased limit amount after 2009; (3) repeal aggregation rules relating to the determination of small issuer eligibility; (4) allow small issuers an election to treat borrowers separately for purposes of issuance limitations; and (5) allow financial institutions and brokers to hold up to 2% of their assets in tax-exempt securities without affecting their interest expense tax deduction.


Ex Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Oceans Act of 1998''.

SEC. 2. DEFINITIONS.

    As used in this Act:
            (1) Commission.--The term ``Commission'' means the 
        Commission on Ocean Policy established under section 4.
            (2) Coastal state.--The term ``coastal State'' means a 
        State in, or bordering on, the Atlantic, Pacific, or Arctic 
        Ocean, the Gulf of Mexico, Long Island Sound, or one or more of 
        the Great Lakes.
            (3) Marine environment.--The term ``marine environment'' 
        includes--
                    (A) the oceans, including coastal and offshore 
                waters and nearshore saltwater estuaries;
                    (B) the continental shelf; and
                    (C) the Great Lakes.
            (4) Ocean and coastal activities.--The term ``ocean and 
        coastal activities'' includes activities consisting of, 
        affecting, or otherwise related to oceanography, fisheries, or 
        the management or use of any ocean and coastal resource. The 
        term does not include military operations and training.
            (5) Ocean and coastal resource.--The term ``ocean and 
        coastal resource'' means any living or nonliving natural, 
        historic, or cultural resource or mineral found in the marine 
        environment.
            (6) State.--The term ``State'' means any State of the 
        United States, the District of Columbia, the Commonwealth of 
        Puerto Rico, the Virgin Islands, Guam, American Samoa, the 
        Commonwealth of the Northern Mariana Islands, and any other 
        territory or possession of the United States.

SEC. 3. EXECUTIVE RESPONSIBILITIES.

    (a) National Ocean and Coastal Policy.--The Congress and the 
President, after receiving and considering the report of the Commission 
under section 4, shall develop and propose a coordinated, 
comprehensive, and long-range national policy for the responsible use 
and stewardship of ocean and coastal resources for the benefit of the 
United States, including a plan to meet the resource monitoring and 
assessment facilities and equipment requirements of Federal ocean and 
coastal programs.
    (b) Biennial Report.--Beginning in January 1999, the President 
shall transmit to the Congress biennially a report that shall include a 
detailed listing of all existing Federal programs relating to ocean and 
coastal activities, including a description of each program, the 
current funding for the program, and a projection of the funding level 
for the program for each of the following 5 fiscal years.
    (c) Budget Coordination.--Each agency or department involved in 
ocean and coastal activities shall include with its annual request for 
appropriations a report that identifies significant elements of the 
proposed agency or department budget relating to ocean and coastal 
activities.
    (d) Cooperation and Consultation.--In carrying out responsibilities 
under this Act, the President--
            (1) may use such staff, interagency, and advisory 
        arrangements as the President finds necessary and appropriate; 
        and
            (2) shall consult with State and local governments and non-
        Federal organizations and individuals involved in ocean and 
        coastal activities.

SEC. 4. COMMISSION ON OCEAN POLICY.

    (a) Establishment.--
            (1) In general.--There is hereby established the Commission 
        on Ocean Policy.
            (2) Membership.--(A) The Commission shall be composed of 16 
        members appointed by the President from among individuals who 
        are knowledgeable in ocean and coastal activities, including 
        individuals representing State and local governments, ocean-
        related industries, academic and technical institutions, and 
        public interest organizations involved with scientific, 
        regulatory, economic, and environmental ocean and coastal 
        activities. The membership of the Commission shall be balanced 
        geographically to the extent consistent with maintaining the 
        highest level of expertise on the Commission.
            (B) Of the members of the Commission appointed under this 
        paragraph--
                    (i) 4 shall be appointed from a list of 8 
                individuals who shall be recommended by the majority 
                leader of the Senate in consultation with the Chairman 
                of the Senate Committee on Commerce, Science, and 
                Transportation;
                    (ii) 4 shall be appointed from a list of 8 
                individuals who shall be recommended by the Speaker of 
                the House of Representatives in consultation with the 
                Chairmen of the Committee on Resources, Transportation 
                and Infrastructure, and Science;
                    (iii) 2 shall be appointed from a list of 4 
                individuals who shall be recommended by the minority 
                leader of the Senate in consultation with the ranking 
                member of the Senate Committee on Commerce, Science, 
                and Transportation; and
                    (iv) 2 shall be appointed from a list of 4 
                individuals who shall be recommended by the by the 
                minority leader of the House of Representatives in 
                consultation with the ranking members of the Committees 
                on Resources, Transportation and Infrastructure, and 
                Science.
            (C) The members of the Commission shall be appointed for 
        the life of the Commission by not later than 90 days after the 
        date of the enactment of this Act.
            (3) First meeting.--The Commission shall hold its first 
        meeting within 30 days after it is established.
            (4) Chairman.--The Commission shall elect one of its 
        members as Chair.
    (b) Report.--
            (1) In general.--The Commission shall submit to the 
        Congress and the President, by not later than 18 months after 
        the date of the establishment of the Commission, a final report 
        of its findings and recommendations regarding United States 
        ocean policy.
            (2) Public and state review.--Before submitting the final 
        report to the Congress, the Commission shall--
                    (A) publish in the Federal Register a notice that 
                the draft report is available for public review; and
                    (B) provide a copy of the draft report to the 
                Governor of each coastal State, the Committees on 
                Resources, Transportation and Infrastructure, and 
                Science of the House of Representatives, and the 
                Committee on Commerce, Science, and Transportation of 
                the Senate.
            (3) Final report contents, generally.--Subject to paragraph 
        (4), the final report of the Commission shall include 
        recommendations for the responsible use and stewardship of 
        ocean and coastal resources, including the following:
                    (A) Recommendations for any modifications to United 
                States laws and regulations, and the administrative 
                structure of the Executive agencies, that are necessary 
                to improve the understanding, management, and 
                conservation and use of, and access to, ocean and 
                coastal resources.
                    (B) An assessment of the condition and adequacy of 
                existing and planned facilities associated with ocean 
                and coastal activities, including human resources, 
                vessels, computers, satellites, and other appropriate 
                platforms and technologies, and recommendations for 
                investments and improvements in those facilities.
                    (C) A review of existing and planned ocean and 
                coastal activities of Federal entities, and 
                recommendations for changes in such activities 
                necessary to reduce duplication of Federal efforts.
                    (D) A review of the cumulative effect of Federal 
                laws and regulations on United States ocean policy, an 
                examination of those laws and regulations for 
                inconsistencies and contradictions that might adversely 
                affect the conduct of ocean and coastal activities, and 
                recommendations for resolving any such inconsistencies. 
                In particular, this portion of the report shall include 
                an examination of the relationship between the 
                fisheries development and fisheries conservation 
                responsibilities of the National Marine Fisheries 
                Service.
                    (E) A review of the known and anticipated supply of 
                and demand for ocean and coastal resources of the 
                United States.
                    (F) A review of the relationship between Federal, 
                State, and local governments and the private sector in 
                planning and carrying out ocean and coastal activities, 
                and recommendations for enhancing the role of State and 
                local governments.
                    (G) A review of opportunities for the development 
                of or investment in new products, technologies, or 
                markets related to ocean and coastal activities.
                    (H) A review of previous and ongoing State efforts 
                and Federal efforts to enhance the effectiveness and 
                integration of ocean activities, including those 
                occurring offshore and in nearshore saltwater 
                estuaries.
            (4) State comments.--The Commission shall include in the 
        final report comments received from the Governor of any coastal 
        State regarding recommendations in the draft report that apply 
        to areas within the boundaries of that coastal State.
            (5) Consideration of factors.--In making its assessments 
        and reviews and developing its recommendations, the Commission 
        shall give full and balanced consideration to environmental, 
        technical, economic, and other relevant factors, with an equal 
        opportunity for all parties to present a fair and reasonable 
        case for unbiased consideration by the Commission. All 
        recommendations should consider effects on private property. To 
        the greatest extent possible, no recommendations shall have a 
        negative impact on local economies that are dependent on ocean 
        and coastal resources. Any data used by the Commission in 
        making its recommendations for regulations shall be peer 
        reviewed.
            (6) Limitation on recommendations.--The Commission shall 
        not make any specific recommendations with respect to lands and 
        waters within the boundary of any State located north of 51 
        degrees North latitude, or with respect to lands and waters 
        within the State of Idaho.
    (c) Duties of the Chair.--In carrying out the provisions of this 
section, the Chair of the Commission shall be responsible for--
            (1) the assignment of duties and responsibilities among 
        staff personnel and their continuing supervision; and
            (2) the use and expenditures of funds available to the 
        Commission.
    (d) Compensation.--Members of the Commission shall, subject to the 
availability of appropriations, when engaged in the actual performance 
of duties of the Commission, receive reimbursement of travel expenses, 
including per diem in lieu of subsistence as authorized for persons 
employed intermittently in the Government service under section 3109 of 
title 5, United States Code.
    (e) Staff.--
            (1) Executive director.--The Chair of the Commission may, 
        with the consent of the Commission and without regard to the 
        civil service laws and regulations, appoint and terminate an 
        executive director who is knowledgeable in administrative 
        management and ocean and coastal policy and such other 
        additional personnel as may be necessary to enable the 
        Commission to perform its duties.
            (2) Compensation.--The executive director shall, subject to 
        the availability of appropriations, be compensated at a rate 
        not to exceed the rate payable for Level V of the Executive 
        Schedule under section 5316 of title 5, United States Code. The 
        Chairman may fix the compensation of other personnel without 
        regard to the provisions of chapter 51 and subchapter III of 
        chapter 53 of title 5, United States Code, relating to 
        classification of positions and General Schedule pay rates, 
        except that the rate of pay for such personnel may not exceed 
        the rate payable for GS-15, step 7, of the General Schedule 
        under section 5332 of such title.
            (3) Detailees.--Upon a request of the Chair of the 
        Commission made after consulting with the head of any Federal 
        agencies responsible for managing ocean and coastal resources, 
        the head of any such Federal agency may detail appropriate 
        personnel of the agency to the Commission to assist the 
        Commission in carrying out its functions under this Act. 
        Federal Government employees detailed to the Commission shall 
        serve without reimbursement from the Commission, and shall 
        retain the rights, status, and privileges of his or her regular 
        employment without interruption.
            (4) Experts and consultants.--To the extent that funds are 
        available, and subject to such rules as may be prescribed by 
        the Commission, the executive director of the Commission may 
        procure the temporary and intermittent services of experts and 
        consultants in accordance with section 3109 of title 5, United 
        States Code, but at rates not to exceed the daily rate payable 
        for GS-15, step 7, of the General Schedule under section 5332 
        of title 5, United States Code.
    (f) Administration.--
            (1) Meetings.--All meetings of the Commission shall be open 
        to the public, except that a meeting or any portion of it may 
        be closed to the public if it concerns matters or information 
        described in section 552b(c) of title 5, United States Code. 
        Interested persons shall be permitted to appear at open 
        meetings and present written statements or oral statements at 
        the discretion of the Commission on the subject matter of the 
        meeting. The Commission may administer oaths or affirmations to 
        any person appearing before it.
            (2) Notice of meetings.--All open meetings of the 
        Commission shall be preceded by timely public notice, including 
        notice in the Federal Register, of the time, place, and subject 
        of the meeting.
            (3) Minutes and other records.--(A) Minutes of each meeting 
        shall be kept and shall contain a record of the people present, 
        a description of the discussion that occurred, and copies of 
        all statements filed. Subject to restrictions set forth in 
        section 552 of title 5, United States Code, the minutes and 
        records of all meetings and other documents that were made 
        available to or prepared for the Commission shall be available 
        for public inspection and copying at a single location in the 
        offices of the Commission.
            (B) The Commission shall have at least one meeting in each 
        of the following 6 geographic regions of the United States:
                    (i) The Northeast.
                    (ii) The Southeast.
                    (iii) The Southwest.
                    (iv) The Northwest.
                    (v) The Great Lakes States.
                    (vi) The Gulf of Mexico States.
    (g) Cooperation With Other Federal Entities.--
            (1) Other federal agencies and departments.--The Commission 
        may secure directly from any Federal agency or department any 
        information it considers necessary to carry out its functions 
        under this Act. Each such agency or department may cooperate 
        with the Commission and, to the extent permitted by law, 
        furnish such information to the Commission, upon the request of 
        the Chair of the Commission.
            (2) Mails.--The Commission may use the United States mails 
        in the same manner and under the same conditions as departments 
        and agencies of the United States.
            (3) Acquisitions.--The Commission may enter into contracts 
        with Federal and State agencies, private firms, institutions, 
        and individuals to assist the Commission in carrying out its 
        duties. The Commission may purchase and contract without regard 
        to section 18 of the Office of Federal Procurement Policy Act 
        (41 U.S.C. 416) and section 8 of the Small Business Act (15 
        U.S.C. 637), pertaining to competition and publication 
        requirements, and may arrange for printing without regard to 
        the provisions of title 44, United States Code. The contracting 
        authority of the Commission under this Act is effective only to 
        the extent that appropriations are available for contracting 
        purposes.
    (h) Termination.--The Commission shall cease to exist 30 days after 
the date on which it submits its final report.
    (i) Authorization of Appropriations.--There are authorized to be 
appropriated to support the activities of the Commission $2,000,000 for 
fiscal year 1999 and $1,000,000 for fiscal year 2000. Any sums 
appropriated may remain available without fiscal year limitation until 
the Commission ceases to exist.

            Passed the House of Representatives September 15, 1998.

            Attest:

                                                                 Clerk.

Ex Output:
Oceans Act of 1998 - Requires that the Congress and the President, after considering the Commission report under this Act, develop a coordinated, comprehensive, and long-range national policy for the use and stewardship of ocean and coastal resources for the benefit of the United States, including a plan to meet the resource monitoring and assessment facilities and equipment requirements of Federal ocean and coastal programs.  Mandates a biennial report by the President to the Congress listing all existing Federal programs relating to ocean and coastal activities.  Requires each agency or department involved in ocean and coastal activities to include with its annual appropriations request a report identifying elements of its budget relating to ocean and coastal activities. 
Establishes the Commission on Ocean Policy and requires it to report to the Congress and the President regarding U.S. ocean policy. Requires opening the draft report for public comment before submitting the final report.  Prohibits Commission recommendations regarding lands and waters within:  (1) the boundary of any State north of 51 degrees North latitude; or (2) the State of Idaho.  Terminates the Commission after submission of its final report.  Authorizes appropriations.


Ex Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Prohibiting Detention of Youth 
Status Offenders Act of 2017''.

SEC. 2. DEINSTITUTIONALIZATION OF STATUS OFFENDERS.

    Section 223 of the Juvenile Justice and Delinquency Prevention Act 
of 1974 (42 U.S.C. 5633) is amended--
            (1) in subsection (a)(11)--
                    (A) by striking ``shall'' the first place it 
                appears;
                    (B) in subparagraph (A)--
                            (i) in clause (i), by inserting ``and'' at 
                        the end;
                            (ii) in clause (ii), by striking ``and'' at 
                        the end;
                            (iii) by striking clause (iii); and
                            (iv) in the matter following clause (iii) 
                        by striking ``and'' at the end;
                    (C) in subparagraph (B), by inserting ``and'' at 
                the end; and
                    (D) by adding at the end the following:
                    ``(C) if a court determines the juvenile should be 
                placed in a secure detention facility or correctional 
                facility for violating an order described in 
                subparagraph (A)(ii)--
                            ``(i) the court shall issue a written order 
                        that--
                                    ``(I) identifies the valid court 
                                order that has been violated;
                                    ``(II) specifies the factual basis 
                                for determining that there is 
                                reasonable cause to believe that the 
                                juvenile has violated such order;
                                    ``(III) includes findings of fact 
                                to support a determination that there 
                                is no appropriate less restrictive 
                                alternative available to placing the 
                                juvenile in such a facility, with due 
                                consideration to the best interest of 
                                the juvenile;
                                    ``(IV) specifies the length of 
                                time, not to exceed 3 days, that the 
                                juvenile may remain in a secure 
                                detention facility or correctional 
                                facility, and includes a plan for the 
                                juvenile's release from such facility; 
                                and
                                    ``(V) may not be renewed or 
                                extended; and
                            ``(ii) the court may not issue a second or 
                        subsequent order described in clause (i) 
                        relating to a juvenile, unless the juvenile 
                        violates a valid court order after the date on 
                        which the court issues an order described in 
                        clause (i);
                    ``(D) there are procedures in place to ensure that 
                any juvenile held in a secure detention facility or 
                correctional facility pursuant to a court order 
                described in this paragraph does not remain in custody 
                longer than 3 days (with the exception of weekends and 
                holidays) or the length of time authorized by the 
                court, or authorized under applicable State law, 
                whichever is shorter;
                    ``(E) juvenile status offenders detained or 
                confined in a secure detention facility or correctional 
                facility pursuant to a court order as described in this 
                paragraph may only be detained in secure custody one 
                time in any six-month period, provided that all 
                conditions set forth in subparagraph (D) are satisfied; 
                and
                    ``(F) not later than one year after the date of 
                enactment of this subparagraph, with a single one-year 
                extension if the State can demonstrate hardship as 
                determined by the Administrator, the State will 
                eliminate the use of valid court orders as described in 
                subparagraph (A)(ii) to provide secure lockup of status 
                offenders;''; and
            (2) by adding at the end the following:
    ``(g) Applications for Extension for Compliance.--States may apply 
for a single one-year extension to comply with subsection (a)(11). To 
apply, a State must submit an application to the Administrator 
describing--
            ``(1) the State's measurable progress and good faith effort 
        to reduce the number of status offenders who are placed in a 
        secure detention facility or correctional facility pursuant to 
        a court order as described in this paragraph; and
            ``(2) the State's plan to come into compliance not later 
        than 1 year after the date of extension.''.

Ex Output:

Prohibiting Detention of Youth Status Offenders Act of 2017 This bill amends the Juvenile Justice and Delinquency Prevention Act of 1974 to modify the deinstitutionalization of status offenders (DSO) core requirement with which a state must comply to receive funds under the Formula Grant Program. The DSO core requirement prohibits the secure detention or confinement of a juvenile who commits a status offense (i.e., an offense that would not be a crime if committed by an adult). This bill eliminates an exception to the DSO core requirement that permits the secure detention or confinement of an out-of-state runaway youth. It also eliminates, not later than one year after enactment, an exception to the DSO core requirement that permits the secure detention or confinement of a juvenile status offender who violates a valid court order. Until then, use of the valid court order exception to securely detain or confine a juvenile status offender must comply with additional requirements, such as issuance of a written court order and a three-day maximum length of detention.