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

Input: Consider Input: SECTION 1. ENCOURAGING THE PREPARATION OF TANF RECIPIENTS FOR HIGH-
              SKILL, HIGH-DEMAND JOBS.

    (a) In General.--Section 407(c)(2)(D) of the Social Security Act 
(42 U.S.C. 607(c)(2)(D)) is amended to read as follows:
                    ``(D) Limitation on number of persons who may be 
                treated as engaged in work by reason of participation 
                in educational activities.--
                            ``(i) In general.--Except as provided in 
                        clause (ii), for purposes of paragraphs 
                        (1)(B)(i) and (2)(B) of subsection (b), not 
                        more than 30 percent of the number of 
                        individuals in all families in a State who are 
                        treated as engaged in work for a month may 
                        consist of individuals who are--
                                    ``(I) determined to be engaged in 
                                work for the month by reason of 
                                participation in vocational educational 
                                training (but only with respect to such 
                                training that does not exceed 12 months 
                                with respect to any individual); or
                                    ``(II) deemed to be engaged in work 
                                for the month by reason of subparagraph 
                                (C) of this paragraph.
                            ``(ii) Exception for education in 
                        preparation for sector-specific, high-skill 
                        occupations to meet employer demand.--
                                    ``(I) In general.--Notwithstanding 
                                clause (i) and subsection (d)(8), for 
                                purposes of determining monthly 
                                participation rates under paragraphs 
                                (1)(B)(i) and (2)(B) of subsection (b) 
                                with respect to an individual who is 
                                enrolled, in preparation for a sector-
                                specific, high-skill occupation to meet 
                                employer demand (as defined in 
                                subclause (II)), in a postsecondary 2- 
                                or 4-year degree program or in 
                                vocational educational training--
                                            ``(aa) the State may count 
                                        the number of hours per week 
                                        that the individual attends 
                                        such program or training for 
                                        purposes of determining the 
                                        number of hours for which a 
                                        family is engaged in work for 
                                        the month without regard to the 
                                        30 percent limitation under 
                                        clause (i); and
                                            ``(bb) the individual shall 
                                        be permitted to complete the 
                                        requirements of the degree 
                                        program or vocational 
                                        educational training within the 
                                        normal time frame for full-time 
                                        students seeking the particular 
                                        degree or completing such 
                                        vocational educational 
                                        training.
                                    ``(II) Sector-specific, high-skill 
                                occupation to meet employer demand 
                                defined.--In subclause (I), the term 
                                `sector-specific, high-demand, high-
                                skill occupation to meet employer 
                                demand' means an occupation--
                                            ``(aa) that has been 
                                        identified by the State 
                                        workforce investment board 
                                        established under section 111 
                                        of the Workforce Investment Act 
                                        of 1998 (29 U.S.C. 2821) as 
                                        within the needs of the State 
                                        with regard to current and 
                                        projected employment 
                                        opportunities in specific 
                                        industry sectors or that has 
                                        been defined by the State 
                                        agency administering the State 
                                        program funded under this part 
                                        as within the needs of the 
                                        State with regard to current 
                                        and projected employment 
                                        opportunities in specific 
                                        industry sectors and is 
                                        consistent with high demand 
                                        jobs identified in the State 
                                        plan in accordance with section 
                                        402(a)(1)(A)(vii);
                                            ``(bb) that requires 
                                        occupational training; and
                                            ``(cc) that provides a wage 
                                        of at least 75 percent of the 
                                        State median hourly wage, as 
                                        calculated by the Bureau of 
                                        Labor Statistics on the basis 
                                        of the most recent Occupational 
                                        Employment and Wage Survey.''.
    (b) Conforming State Plan Amendment.--Section 402(a)(1)(B) of the 
Social Security Act (42 U.S.C. 602(a)(1)(B)) is amended by adding at 
the end the following:
                            ``(vii) The document shall describe any 
                        strategies and programs the State plans to use 
                        to address employment placement, retention, and 
                        advancement for recipients of assistance under 
                        the program, including placement into high-
                        demand jobs and whether such jobs are 
                        identified using labor market information.''.
    (c) Effective Date.--The amendments made by this section take 
effect on October 1, 2005.

Output: Revises the mandatory work requirements of part A (Temporary Assistance for Needy Families) (TANF) of title IV of the Social Security Act with respect to the limitation on the number of persons in a state who may be treated as engaged in work by reason of participation in educational activities. Removes two-parent families from the formula for such limitation. Creates an exception to the limitation for education in preparation for sector-specific, high-skill occupations to meet employer demand.

Defines sector-specific, high-demand, high-skill occupation to meet employer demand as an occupation that: (1) has been identified by the state workforce investment board or by the state agency administering the state TANF program as within state needs with regard to current and projected employment opportunities in specific industry sectors; (2) requires occupational training; and (3) provides a wage of at least 75 percent of the state median hourly wage.


Input: Consider Input: SECTION 1. SHORT TITLE.

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

SEC. 2. COMMUNITY SUPPORT OBLIGATIONS OF MORTGAGE BANKS.

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

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

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

SEC. 4. MORTGAGE BANK COMMUNITY SUPPORT STATEMENTS.

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

SEC. 5. MORTGAGE BANK COMMUNITY SUPPORT EVALUATION.

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

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

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

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

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

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


Input: Consider Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Creating Jobs From Innovative Small 
Businesses Act of 2010''.

SEC. 2. CREDIT FOR INVESTMENTS IN SMALL TECHNOLOGY INNOVATION 
              COMPANIES.

    (a) In General.--Subpart D of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 is amended by adding after section 
45Q the following new section:

``SEC. 45R. HIGH TECHNOLOGY INVESTMENT TAX CREDIT.

    ``(a) Allowance of Credit.--For purposes of section 38, the high 
technology investment tax credit determined under this section for the 
taxable year is an amount equal to 20 percent of the amount paid by the 
taxpayer during such year to acquire a qualified equity investment in a 
qualified high technology small business concern.
    ``(b) Maximum Credit.--
            ``(1) In general.--The taxpayer's credit determined under 
        this section for the taxable year shall not exceed the excess 
        (if any) of--
                    ``(A) $100,000, over
                    ``(B) the taxpayer's (and any predecessor's) 
                aggregate credit determined under this section for all 
                prior taxable years.
            ``(2) Related parties.--
                    ``(A) In general.--For purposes of paragraph (1), 
                all related persons shall be treated as 1 person, and 
                the dollar amount in paragraph (1)(A) shall be 
                allocated among such persons under regulations 
                prescribed by the Secretary.
                    ``(B) Related persons.--A person shall be treated 
                as related to another person if the relationship 
                between such persons would result in the disallowance 
                of losses under section 267 or 707(b).
    ``(c) Definitions.--For purposes of this section--
            ``(1) Qualified equity investment.--
                    ``(A) In general.--The term `qualified equity 
                investment' means any equity investment in a qualified 
                high technology small business concern if--
                            ``(i) such investment is acquired by the 
                        taxpayer at its original issue (directly or 
                        through an underwriter) solely in exchange for 
                        cash, and
                            ``(ii) such investment is designated for 
                        purposes of this section by such concern.
                    ``(B) Equity investment.--The term `equity 
                investment' means--
                            ``(i) any stock (other than nonqualified 
                        preferred stock as defined in section 
                        351(g)(2)) in an entity which is a corporation, 
                        and
                            ``(ii) any capital interest in an entity 
                        which is a partnership.
                    ``(C) Redemptions.--A rule similar to the rule of 
                section 1202(c)(3) shall apply for purposes of this 
                subsection.
            ``(2) Qualified high technology small business concern.--
        The term `qualified high technology small business concern' 
        means, with respect to any taxable year, any small business 
        concern (as defined in section 3 of the Small Business Act) 
        if--
                    ``(A) such concern employs an average of fewer than 
                500 employees on business days during such year, and
                    ``(B) at least 50 percent of the gross expenditures 
                of such entity for such year are research or 
                experimental expenditures under section 174.
    ``(d) National Limitation on Amount of Investments Designated.--
            ``(1) In general.--There is a high technology investment 
        tax credit limitation for each calendar year. Such limitation 
        is--
                    ``(A) $500,000,000 for 2010,
                    ``(B) $750,000,000 for 2011 and 2012, and
                    ``(C) $1,000,000,000 for 2013 and 2014.
            ``(2) Allocation of limitation.--The limitation under 
        paragraph (1) shall be allocated by the Secretary among 
        qualified high technology small business concerns selected by 
        the Secretary.
            ``(3) Carryover of unused limitation.--If the high 
        technology investment tax credit limitation for any calendar 
        year exceeds the aggregate amount allocated under paragraph (2) 
        for such year, such limitation for the succeeding calendar year 
        shall be increased by the amount of such excess. No amount may 
        be carried under the preceding sentence to any calendar year 
        after 2020.
    ``(e) Certain Taxpayers Not Eligible.--No credit shall be 
determined under this section for any equity investment in any 
qualified high technology small business concern made by any individual 
who, at the time of the investment, is--
            ``(1) an employee of such concern, or
            ``(2) a member of the family (within the meaning of section 
        267(c)(4)) of an employee of such concern.
    ``(f) Basis Reduction.--The basis of any qualified equity 
investment shall be reduced by the amount of any credit determined 
under this section with respect to such investment. This subsection 
shall not apply for purposes of sections 1202, 1400B, and 1400F.
    ``(g) Regulations.--The Secretary shall prescribe such regulations 
as may be appropriate to carry out this section, including 
regulations--
            ``(1) which prevent the abuse of the purposes of this 
        section,
            ``(2) which impose appropriate reporting requirements, and
            ``(3) which apply the provisions of this section to newly 
        formed entities.''.
    (b) Credit Made Part of General Business Credit.--Subsection (b) of 
section 38 of such Code (relating to current year business credit) is 
amended by striking ``plus'' at the end of paragraph (34), by striking 
the period at the end of paragraph (35) and inserting ``, plus'', and 
by adding at the end the following new paragraph:
            ``(36) the high technology investment tax credit determined 
        under section 45R.''.
    (c) Clerical Amendment.--The table of sections for subpart D of 
part IV of subchapter A of chapter 1 of such Code is amended by 
inserting after the item relating to section 45Q the following new 
item:

``Sec. 45R. High technology investment tax credit.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to investments made after December 31, 2009, in taxable years 
ending after such date.


Output: Creating Jobs From Innovative Small Businesses Act of 2010 - Amends the Internal Revenue Code to allow a general business tax credit of 20% of the amount paid to acquire an equity investment in a qualified high technology small business concern. Defines "qualified high technology small business concern" as a small business concern that employs an average of fewer than 500 employees during a year and devotes at least 50% of its gross expenditures to research and experimentation.