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 ``Motorcoach Safety, Accountability, 
and Technology Act of 2013''.

SEC. 2. BRAKE PERFORMANCE INSPECTIONS.

    Not later than 3 years after the date of enactment of this Act, the 
Secretary of Transportation shall issue regulations to ensure that an 
individual conducts, before each trip of a motorcoach carried out by a 
provider of motorcoach services, a brake performance inspection for 
that motorcoach to ensure that the brake performance satisfies all 
requirements under Federal law.

SEC. 3. BRAKE MONITORING SYSTEMS.

    Not later than 3 years after the date of enactment of this Act, the 
Secretary of Transportation shall issue regulations that--
            (1) establish minimum performance standards for any 
        electronic system onboard a motorcoach that is used to monitor 
        the performance of an air brake system of that motorcoach; and
            (2) require that each motorcoach with an air brake system, 
        if manufactured after the date that is 2 years after the 
        effective date of the standards established under paragraph 
        (1), be equipped with such an electronic system.

SEC. 4. AUTOMATIC EMERGENCY BRAKING AND COLLISION WARNING SYSTEMS.

    Not later than 3 years after the date of enactment of this Act, the 
Secretary of Transportation shall issue regulations requiring that each 
motorcoach manufactured after the effective date of such regulations be 
equipped with--
            (1) an automatic emergency braking system; and
            (2) a collision warning system.

SEC. 5. LANE DEPARTURE WARNING SYSTEMS.

    Not later than 3 years after the date of enactment of this Act, the 
Secretary of Transportation shall issue regulations requiring that each 
motorcoach manufactured after the effective date of such regulations, 
and with a gross vehicle weight rating of more than 10,000 pounds, be 
equipped with a lane departure warning system.

SEC. 6. SPEED LIMITING DEVICES.

    Not later than 3 years after the date of enactment of this Act, the 
Secretary of Transportation shall issue regulations requiring that each 
motorcoach manufactured after the effective date of such regulations be 
equipped with a device that limits the speed at which the motorcoach 
may travel to not more than 70 miles per hour.

SEC. 7. ADDITIONAL REGULATION REQUIREMENTS.

    In issuing regulations under sections 3, 4, 5, and 6 of this Act, 
the Secretary of Transportation shall--
            (1) require that the technologies mandated for motorcoaches 
        under those sections be tamper resistant; and
            (2) establish a process for certifying compliance with the 
        regulations.

SEC. 8. RETROFITTING.

    (a) Study.--The Secretary of Transportation shall conduct a study 
on the feasibility of requiring that motorcoaches, if not manufactured 
with the technologies referenced in sections 3, 4, 5, and 6 of this 
Act, be retrofitted with such technologies.
    (b) Report.--Not later than 3 years after the date of enactment of 
this Act, the Secretary shall submit to Congress a report on the 
findings of the study conducted under subsection (a).

SEC. 9. REGROOVED, RECAPPED, AND RETREADED TIRES.

    Not later than 3 years after the date of enactment of this Act, the 
Secretary of Transportation shall issue regulations that establish 
standards for the use of regrooved, recapped, or retreaded tires on a 
motorcoach.

SEC. 10. MOTOR CARRIER SAFETY ASSISTANCE PROGRAM.

    Section 31102(b)(2) of title 49, United States Code, is amended by 
striking subparagraph (X) and inserting the following:
                    ``(X) except in the case of an imminent or obvious 
                safety hazard, ensures that an inspection of a vehicle 
                transporting passengers for a motor carrier of 
                passengers is conducted at a station, terminal, border 
                crossing, maintenance facility, destination, weigh 
                station, rest stop, turnpike service area, or a 
                location where adequate food, shelter, and sanitation 
                facilities are available for passengers and reasonable 
                accommodation is available for passengers with 
                disabilities; and''.

SEC. 11. DEFINITIONS.

    In this Act, the following definitions apply:
            (1) Motorcoach.--The term ``motorcoach'' has the meaning 
        given that term in section 32702(6) of MAP-21, except that the 
        reference in such section to section 3038(a)(3) of the 
        Transportation Equity Act for the 21st Century (49 U.S.C. 5310 
        note) shall be treated as referring to such section 3038(a)(3) 
        as in effect on the day before the date of enactment of MAP-21.
            (2) Provider of motorcoach services.--The term ``provider 
        of motorcoach services'' has the meaning given that term in 
        section 32702(10) of MAP-21, except that the term 
        ``motorcoach'', as used in such section, shall be treated as 
        having the meaning given such term under paragraph (1) of this 
        section.

Ex Output:
Motorcoach Safety, Accountability, and Technology Act of 2013 - Directs the Secretary of Transportation (DOT) to issue regulations to ensure that an individual conducts a brake performance inspection before each motorcoach trip to ensure that the brake performance satisfies all federal law requirements. Directs the Secretary to issue regulations to: (1) establish minimum performance standards for onboard electronic air brake monitoring systems for motorcoaches, (2) require motorcoaches to be equipped with automatic emergency braking and collision warning systems, (3) require motorcoaches with a gross vehicle weight rating of more than 10,000 pounds to be equipped with a lane departure warning system, and (4) require motorcoaches to be equipped with a device to limit maximum speed to 70 miles per hour. Requires the Secretary to make such technologies tamper resistant. Directs the Secretary to study the feasibility of requiring motorcoaches be retrofitted with such technologies. Directs the Secretary to issue regulations to establish standards for motorcoaches to use regrooved, recapped, or retreaded tires. Revises Motor Carrier Safety Assistance Program requirements.  Requires the Secretary to approve plans under which states agree to assume responsibility for improving motor carrier safety and adopt and to enforce commercial motor vehicle safety, hazardous materials transportation safety, or compatible regulations, standards, and orders if the plan ensures that (except in the case of an imminent or obvious safety hazard) an inspection of a passenger motorcoach is conducted at a station, terminal, border crossing maintenance facility, and destination (as under current law), but also a weigh station, rest stop, turnpike service area, or other location where adequate food, shelter, and sanitation facilities are available for passengers as well as passengers with disabilities. 


Ex Input:
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Cabin Fee Act of 
2012''.
    (b) Table of Contents.--The table of contents of this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Definitions.
Sec. 3. Cabin user fees.
Sec. 4. Payment of cabin transfer fees.
Sec. 5. Right of appeal and judicial review.
Sec. 6. Effect.
Sec. 7. Regulations.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Authorization; authorize.--The terms ``authorization'' 
        and ``authorize'' mean the issuance of a special use permit for 
        the use and occupancy of National Forest System land by a cabin 
        owner under the Recreation Residence Program.
            (2) Cabin.--The term ``cabin'' means a privately built and 
        owned recreation residence and related improvements on National 
        Forest System land that--
                    (A) is authorized for private use and occupancy; 
                and
                    (B) may be sold or transferred between private 
                parties.
            (3) Cabin owner.--The term ``cabin owner'' means--
                    (A) a person authorized by the Secretary to use and 
                to occupy a cabin; and
                    (B) a trust, heir, or assign of a person described 
                in subparagraph (A).
            (4) Cabin transfer fee.--The term ``cabin transfer fee'' 
        means a fee that is paid to the United States on the transfer 
        of a cabin between private parties for money or other 
        consideration that results in the issuance of a new permit.
            (5) Cabin user fee.--The term ``cabin user fee'' means an 
        annual fee paid to the United States by a cabin owner in 
        accordance with an authorization for the use and occupancy of a 
        cabin.
            (6) Current appraisal cycle.--The term ``current appraisal 
        cycle'' means the completion of Forest Service review and 
        acceptance of--
                    (A) initial typical lot appraisals; and
                    (B) second appraisals, if ordered by cabin owners 
                and approved by the Forest Service.
            (7) Current cabin user fee.--The term ``current cabin user 
        fee'' means the most recent cabin user fee, as adjusted under 
        section 3(c).
            (8) Lot.--The term ``lot'' means a parcel of National 
        Forest System land on which a person is authorized to build, 
        use, occupy, and maintain a cabin.
            (9) National forest system.--The term ``National Forest 
        System'' has the meaning given that term in section 11 of the 
        Forest and Rangeland Renewable Resources Planning Act of 1974 
        (16 U.S.C. 1609).
            (10) Recreation residence program.--The term ``Recreation 
        Residence Program'' means the Recreation Residence Program 
        established under the last paragraph under the heading ``FOREST 
        SERVICE'' in the Act of March 4, 1915 (16 U.S.C. 497).
            (11) Secretary.--The term ``Secretary'' means the Secretary 
        of Agriculture, acting through the Chief of the Forest Service.
            (12) Typical lot.--The term ``typical lot'' means a cabin 
        lot, or group of cabin lots, in a tract that is selected for 
        use in an appraisal as being representative of, and that has 
        similar value characteristics as, other lots or groups of lots 
        within the tract.

SEC. 3. CABIN USER FEES.

    (a) Payment of Cabin User Fees.--Cabin owners shall pay an annual 
cabin user fee established by the Secretary in accordance with this 
section.
    (b) Initial Cabin User Fees.--
            (1) Establishment.--The Secretary shall establish initial 
        cabin user fees in accordance with this subsection.
            (2) Assignment to value tiers.--On completion of the 
        current appraisal cycle, as required by paragraph (4), the 
        Secretary shall assign each permitted lot on National Forest 
        System land to 1 of 10 tiers based on the following 
        considerations:
                    (A) Before assigning the lots to tiers, all 
                appraised lot values shall be adjusted, or normalized, 
                for price changes occurring after the appraisal, in 
                accordance with the National Association of 
                Homebuilders/Wells Fargo Housing Opportunity Index.
                    (B) Second appraisal values shall supersede initial 
                lot appraisal values for the normalization and ranking 
                process under subparagraph (A).
                    (C) The tiers shall be established, on a national 
                basis, according to relative lot value, with lots 
                having the lowest adjusted appraised value assigned to 
                tier 1 and lots having the highest adjusted appraised 
                value assigned to tier 10.
                    (D) The number of lots (by percentage) assigned to 
                each tier is contained in the table set forth in 
                paragraph (3).
                    (E) Data from incomplete appraisals may not be used 
                to establish the fee tiers under this subsection.
                    (F) Until assigned to a tier under this subsection, 
                the Secretary shall assess (and may adjust annually 
                subject to clause (ii)) an interim fee for permitted 
                cabin lots (including lots with incomplete appraisals) 
                in an amount equal to the lesser of--
                            (i) $5,000; or
                            (ii) the amount of the current cabin user 
                        fee, as determined under the Cabin User Fee 
                        Fairness Act of 2000 (16 U.S.C. 6201 et seq.), 
                        which amount the Secretary may increase 
                        annually by not more than 25 percent, except 
                        that the increased fee shall not exceed the 
                        otherwise scheduled fee determined under the 
                        Cabin User Fee Fairness Act of 2000.
            (3) Amount of initial cabin user fees.--The initial cabin 
        user fees, based on the assignments under paragraph (2), are as 
        follows:


------------------------------------------------------------------------
                          Approximate Percent of
        Fee Tier            Permits Nationally          Fee Amount
------------------------------------------------------------------------
               Tier 1                5 percent                     $500
------------------------------------------------------------------------
               Tier 2               12 percent                   $1,000
------------------------------------------------------------------------
               Tier 3               22 percent                   $1,500
------------------------------------------------------------------------
               Tier 4               22 percent                   $2,000
------------------------------------------------------------------------
               Tier 5               10 percent                   $2,500
------------------------------------------------------------------------
               Tier 6                9 percent                   $3,000
------------------------------------------------------------------------
               Tier 7                7 percent                   $3,500
------------------------------------------------------------------------
               Tier 8                5 percent                   $4,000
------------------------------------------------------------------------
               Tier 9                5 percent                   $4,500
------------------------------------------------------------------------
              Tier 10                3 percent                   $5,000
------------------------------------------------------------------------

            (4) Deadline for completion of current appraisal cycle.--
        Not later than 3 years after the date of enactment of this Act, 
        the Secretary shall complete the current appraisal cycle.
            (5) Effective date.--The initial cabin user fees required 
        by this subsection shall take effect beginning with the first 
        calendar year beginning after the completion of the current 
        appraisal cycle.
    (c) Annual Adjustments of Cabin User Fee.--Once initial cabin user 
fees have been assessed, based on the tier assignments under subsection 
(b)(2), the Secretary shall use changes in the Implicit Price Deflator 
for the Gross Domestic Product published by the Bureau of Economic 
Analysis of the Department of Commerce, applied on a 5-year rolling 
average, to assess an annual adjustment to cabin user fees.
    (d) Effect of Destruction, Substantial Damage, or Loss of Access.--
            (1) In general.--The Secretary shall reduce the cabin user 
        fee to $100 per year for a cabin if--
                    (A) the cabin is destroyed or suffers substantial 
                damage in an amount that is greater than 50 percent of 
                replacement cost of the cabin; or
                    (B) access to the cabin is significantly impaired, 
                whether by catastrophic events, natural causes, or 
                governmental actions.
            (2) Term of reduced fee.--The reduced fee under paragraph 
        (1) shall be in effect until the later of--
                    (A) the last day of the year in which the 
                destruction or impairment occurs; or
                    (B) the date on which the cabin may be lawfully 
                reoccupied and normal access has been restored.

SEC. 4. PAYMENT OF CABIN TRANSFER FEES.

    As a condition of the issuance by the Secretary of a new 
authorization for the use and occupancy of the cabin, the cabin owner 
transferring the cabin shall pay to the Secretary a cabin transfer fee 
in the amount of $1,200.

SEC. 5. RIGHT OF APPEAL AND JUDICIAL REVIEW.

    (a) Right of Appeal.--
            (1) In general.--Notwithstanding any action of a cabin 
        owner to exercise rights in accordance with section 6, the 
        Secretary shall by regulation grant to the cabin owner the 
        right to an administrative appeal of the determination of a new 
        cabin user fee, fee tier, or whether or not to reduce a cabin 
        user fee under section 3(d).
            (2) Applicable law.--An appeal under paragraph (1) shall be 
        pursuant to the appeal process provided under subpart C of part 
        251 of title 36, Code of Federal Regulations (or a successor 
        regulation).
    (b) Judicial Review.--
            (1) In general.--A cabin owner that contests a final 
        decision of the Secretary under this Act may bring a civil 
        action in United States district court.
            (2) Venue.--The venue for an action brought before the 
        United States district court under this subsection shall be in 
        the Federal judicial district in which the cabin is located.
            (3) Effect on mediation.--Nothing in this Act precludes a 
        person from seeking mediation for an action under this Act.

SEC. 6. EFFECT.

    (a) In General.--Nothing in this Act limits or restricts any right, 
title, or interest of the United States in or to any land or resource.
    (b) Special Rule for Alaska.--In determining a cabin user fee in 
the State of Alaska, the Secretary shall not establish or impose a 
cabin user fee or a condition affecting a cabin user fee that is 
inconsistent with 1303(d) of the Alaska National Interest Lands 
Conservation Act (16 U.S.C. 3193(d)).

SEC. 7. REGULATIONS.

    Not later than December 31, 2013, the Secretary shall issue 
regulations to carry out this Act.

            Passed the House of Representatives September 10, 2012.

            Attest:

                                                 KAREN L. HAAS,

                                                                 Clerk.

Ex Output:
Cabin Fee Act of 2012 - Directs the Secretary of Agriculture (USDA) to set an annual fee for, and requires the payment of such fee to the United States by, an authorized owner of a privately built and owned recreational cabin located on National Forest System land.

Reduces such fee to $100 annually if access to a cabin is significantly impaired, either by natural causes or governmental actions.

 Requires payment of a transfer fee to the United States upon the transfer of a cabin between private parties for consideration.

Requires the Secretary to grant a cabin owner the right to administrative appeal of a cabin fee decision, which may be reviewed by bringing a civil action in U.S. district court.


Ex Input:
SECTION 1. SHORT TITLE; DEFINITIONS.

    (a) Short Title.--This Act may be cited as the ``Online Investor 
Protection Act of 1999''.
    (b) Definitions.--In this Act--
            (1) the term ``Commission'' means the Securities and 
        Exchange Commission;
            (2) the term ``Internet'' means the international computer 
        network of both Federal and non-Federal interoperable packet 
        switched data networks;
            (3) the term ``interactive computer service'' means any 
        information service, system, or access software provider that 
        provides or enables computer access by multiple users to a 
        computer server, including specifically a service or system 
        that provides access to the Internet and such systems operated 
        or services offered by libraries or educational institutions;
            (4) the term ``investment adviser'' has the same meaning as 
        in section 202 of the Investment Advisers Act of 1940;
            (5) the term ``investment company'' has the same meaning as 
        in section 3 of the Investment Company Act of 1940;
            (6) the term ``registered broker or dealer'' has the same 
        meaning as in section 3 of the Securities Exchange Act of 1934; 
        and
            (7) the term ``retail investor'' means--
                    (A) any investor other than an accredited investor 
                (as defined in section 2(a)(15) of the Securities Act 
                of 1933); and
                    (B) any other similar person or class of persons, 
                as the Commission determines to be appropriate.

SEC. 2. ONLINE TRADING DISCLOSURES.

    The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) is 
amended by inserting after section 35A the following:

``SEC. 35B. ONLINE TRADING DISCLOSURES.

    ``(a) In General.--Each online broker or dealer shall, on a 
quarterly basis, make available on the Internet or other interactive 
computer service, such information as the Commission may require, by 
rule or order, taking into account the needs of customers, and in such 
format and within such time periods as the Commission may prescribe 
regarding--
            ``(1) the date, time, and duration of any system outage or 
        other event that prevented or materially delayed the execution 
        of online securities transactions during the preceding quarter;
            ``(2) any steps taken to address or prevent such outages or 
        events; and
            ``(3) information regarding limiting risk of loss to 
        securities investors that is unique to online trading, as 
        required by the Commission, by rule or order.
    ``(b) Exceptions.--The Commission, by rule or order, may exempt 
from the requirements of subsection (a) any online broker or dealer, or 
class of online brokers or dealers, as the Commission determines to be 
appropriate.
    ``(c) Definitions.--In this section--
            ``(1) the term `Internet' means the international computer 
        network of both Federal and non-Federal interoperable packet 
        switched data networks;
            ``(2) the term `interactive computer service' means any 
        information service, system, or access software provider that 
        provides or enables computer access by multiple users to a 
        computer server, including specifically a service or system 
        that provides access to the Internet and such systems operated 
        or services offered by libraries or educational institutions;
            ``(3) the term `online broker or dealer' means any broker 
        or dealer that provides retail investors with a means to effect 
        securities transactions over the Internet or an interactive 
        computer service;
            ``(4) the term `online securities transaction' means a 
        securities transaction effected between a retail investor and 
an online broker or dealer over the Internet or an interactive computer 
service; and
            ``(5) the term `retail investor' means--
                    ``(A) any customer of an online broker or dealer, 
                other than an accredited investor (as defined in 
                section 2(a)(15) of the Securities Act of 1933); and
                    ``(B) any other similar person or class of persons, 
                as the Commission determines to be appropriate, by rule 
                or order.''.

SEC. 3. EXTENDING DISCIPLINARY DISCLOSURES TO THE INTERNET.

    (a) In General.--Section l5A of the Securities Exchange Act of 1934 
(15 U.S.C. 78o-3) is amended by striking subsection (i) and inserting 
the following:
    ``(i) Obligation To Maintain Disciplinary and Other Data.--
            ``(1) Maintenance of system to respond to inquiries.--A 
        registered securities association shall--
                    ``(A) establish and maintain a toll-free telephone 
                listing or other readily accessible electronic process 
                to receive inquiries regarding disciplinary actions and 
                proceedings and other information involving its members 
                and associated persons of those members; and
                    ``(B) promptly respond to such inquiries.
            ``(2) Recovery of costs.--A registered securities 
        association may charge persons, other than individual 
        investors, reasonable fees for responses to inquiries referred 
        to in paragraph (1).
            ``(3) Limitation on liability.--A registered securities 
        association shall not have any liability to any person for any 
        action taken or omitted in good faith under this subsection.''.
    (b) Records and Reports of Investment Advisers.--Section 204 of the 
Investment Advisers Act of 1940 (15 U.S.C. 80b-4) is amended--
            (1) by striking ``Every investment'' and inserting the 
        following:
    ``(a) In General.--Every investment''; and
            (2) by adding at the end the following:
    ``(b) Filing Depositories.--The Commission, by rule or order, may 
require an investment adviser--
            ``(1) to file with the Commission any fee, application, 
        report, or notice required to be filed by this title or the 
        rules issued under this title through any entity designated by 
        the Commission for that purpose; and
            ``(2) to pay the reasonable costs associated with such 
        filing and the establishment and maintenance of the systems 
        required by subsection (c).
    ``(c) Access to Disciplinary and Other Information.--
            ``(1) Maintenance of system to respond to inquiries.--The 
        Commission shall require an entity designated by the Commission 
        pursuant to subsection (b)(1)--
                    ``(A) to establish and maintain a toll-free 
                telephone listing or other readily accessible 
                electronic process to receive inquiries regarding 
                disciplinary actions and proceedings and other 
                information involving investment advisers and persons 
                associated with investment advisers; and
                    ``(B) to respond promptly to such inquiries.
            ``(2) Recovery of costs.--An entity designated under 
        subsection (b)(1) may charge persons, other than individual 
        investors, reasonable fees for responses to inquiries referred 
        to in paragraph (1).
            ``(3) Limitation on liability.--An entity designated under 
        subsection (b)(1) shall not have any liability to any person 
        for any action taken or omitted in good faith under this 
        subsection.''.
    (c) Conforming Amendments.--
            (1) In general.--Section 203A of the Investment Advisers 
        Act of 1940 (15 U.S.C. 80b-3a) is amended--
                    (A) by striking subsection (d); and
                    (B) by redesignating subsection (e) as subsection 
                (d).
            (2) Repeal.--Section 306 of the National Securities Markets 
        Improvement Act of 1996 (Public Law 104-290; 110 Stat. 3438) is 
        repealed.

SEC. 4. ELECTRONIC ACCESS TO COMMISSION INFORMATION.

    (a) Electronic Links.--Not later than 1 year after the date of 
enactment of this Act, each broker or dealer, investment company, and 
investment adviser that effects securities transactions with retail 
investors, or makes securities market information available to retail 
investors for the purpose of effecting such transactions over the 
Internet or other interactive computer service, shall provide to those 
investors information regarding investor education and fraud prevention 
provided by the Commission, through a hypertext link to a Commission 
website established for that purpose, or in such other manner as may be 
prescribed by the Commission.
    (b) Regulatory Action.--The Commission shall issue final 
regulations to implement this section not later than 6 months after the 
date of enactment of this Act.

SEC. 5. CIVIL PENALTIES FOR INTERNET-RELATED VIOLATIONS.

    (a) Securities Act of 1933.--Section 20(d)(2) of the Securities Act 
of 1933 (15 U.S.C. 77t(d)(2)) is amended by adding at the end the 
following:
                    ``(D) Internet-related violations.--In any case in 
                which the Internet or other interactive computer 
                service (as defined in section 35B of the Securities 
                Exchange Act of 1934) is used as part of the Act or 
                omission resulting in a violation referred to in 
                paragraph (1) the amount of the penalty provided for in 
                this paragraph shall be doubled.''.
    (b) Securities Exchange Act of 1934.--
            (1) Section 21.--Section 21(d)(3)(B) of the Securities 
        Exchange Act of 1934 (15 U.S.C. 78u(d)(3)(B)) is amended by 
        adding at the end the following:
                            ``(iv) Internet-related violations.--In any 
                        case in which the Internet or other interactive 
computer service (as defined in section 35B) is used as part of the act 
or omission resulting in a violation referred to in subparagraph (A), 
the amount of the penalty provided for in this subparagraph shall be 
doubled.''.
            (2) Section 21b.--Section 21B(b) of the Securities Exchange 
        Act of 1934 (15 U.S.C. 78u-2(b)) is amended by adding at the 
        end the following:
            ``(4) Internet-related violations.--In any case in which 
        the Internet or other interactive computer service (as defined 
        in section 35B) is used as part of the act or omission 
        resulting in a violation referred to in subsection (a), the 
        amount of the penalty provided for in this subsection shall be 
        doubled.''.
    (c) Investment Advisers Act of 1940.--
            (1) Section 203.--Section 203(i)(2) of the Investment 
        Advisers Act of 1940 (15 U.S.C. 80b-3(i)(2)) is amended by 
        adding at the end the following:
                    ``(D) Internet-related violations.--In any case in 
                which the Internet or other interactive computer 
                service (as defined in section 35B of the Securities 
                Exchange Act of 1934) is used as part of the act or 
                omission resulting in a violation referred to in 
                paragraph (1), the amount of the penalty provided for 
                in this paragraph shall be doubled.''.
            (2) Section 209.--Section 209(e)(2) of the Investment 
        Advisers Act of 1940 (15 U.S.C. 80b-9(e)(2)) is amended by 
        adding at the end the following:
                    ``(D) Internet-related violations.--In any case in 
                which the Internet or other interactive computer 
                service (as defined in section 35B of the Securities 
                Exchange Act of 1934) is used as part of the act or 
                omission resulting in a violation referred to in 
                paragraph (1), the amount of the penalty provided for 
                in this paragraph shall be doubled.''.
    (d) Investment Company Act of 1940.--Section 9(d)(2) of the 
Investment Company Act of 1940 (15 U.S.C. 80a-9(d)(2)) is amended by 
adding at the end the following:
                    ``(D) Internet-related violations.--In any case in 
                which the Internet or other interactive computer 
                service (as defined in section 35B of the Securities 
                Exchange Act of 1934) is used as part of the act or 
                omission resulting in a violation referred to in 
                paragraph (1), the amount of the penalty provided for 
                in this paragraph shall be doubled.''.

SEC. 6. STUDY AND REPORT ON MARKET IMPACT OF ONLINE TRADING.

    (a) Study.--The Commission shall conduct a study of the effects 
that trading in securities by retail investors over the Internet or 
other interactive computer service has on the securities markets, 
including--
            (1) with respect to ``day trading'' activities--
                    (A) whether a greater risk of fraud exists;
                    (B) whether such trading results in market 
                volatility;
                    (C) the effects on individual companies, the stock 
                of which fluctuates as a result of such volatility, if 
                any; and
                    (D) the effects on investors and their investment 
                patterns resulting from such volatility, if any; and
            (2) the quality of execution received through online 
        trading services, including the effect of ``payment for order 
        flow'' and other practices on--
                    (A) the promptness of execution; and
                    (B) the purchase or sale price obtained for the 
                retail investor.
    (b) Report.--Not later than 1 year after the date of enactment of 
this Act, the Commission shall submit to the Congress a report on the 
results of its study under subsection (a).

SEC. 7. AUTHORIZATION OF APPROPRIATIONS.

    There is authorized to be appropriated to the Office of Internet 
Enforcement of the Securities and Exchange Commission $70,000,000 for 
each of fiscal years 2000 through 2004, for the purpose of Internet 
enforcement and other related investor protection activities, subject 
to appropriations Acts.

Ex Output:

Amends the Investment Advisers Act of 1940 to: (1) authorize the SEC to require an investment adviser to file requisite fees and documents with an SEC designee; and (2) require the SEC to require a designee to establish and maintain a readily accessible electronic process to receive inquiries regarding disciplinary actions and proceedings regarding its members.
Sets a deadline for brokers, dealers, investment companies, and investment advisers engaged in retail transactions to make available to retail investors through a hypertext link to an SEC website access to SEC information regarding investor education and fraud prevention.
Amends the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Advisers Act of 1940 to double the civil penalty for Internet-related violations.
Directs the SEC to study and report to Congress on the market impact of online trading.
Authorizes appropriations to the SEC Office of Internet Enforcement for investor protection activities.