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

[EX Q]: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Government Accountability Office 
Improvement Act of 2008''.

SEC. 2. AUTHORITY TO OBTAIN RECORDS.

    (a) Authority To Obtain Records.--Section 716 of title 31, United 
States Code, is amended in subsection (a)--
            (1) by striking ``(a)'' and inserting ``(2)''; and
            (2) by inserting after the section heading the following:
    ``(a)(1) The Comptroller General is authorized to obtain such 
agency records as the Comptroller General requires to discharge his 
duties (including audit, evaluation, and investigative duties), 
including through the bringing of civil actions under this section. In 
reviewing a civil action under this section, the court shall recognize 
the continuing force and effect of the authorization in the preceding 
sentence until such time as the authorization is repealed pursuant to 
law.''.
    (b) Interviews.--Section 716(a) of title 31, United States Code, as 
amended by subsection (a), is further amended in the second sentence of 
paragraph (2) by inserting ``and interview agency officers and 
employees'' after ``agency record''.

SEC. 3. ADMINISTERING OATHS.

    Section 711 of title 31, United States Code, is amended by striking 
paragraph (4) and inserting the following:
            ``(4) administer oaths to witnesses, except that, in 
        matters other than auditing and settling accounts, the 
        authority of an officer or employee to administer oaths to 
        witnesses pursuant to a delegation under paragraph (2) shall 
        not be available without the prior express approval of the 
        Comptroller General (or a designee).''.

SEC. 4. ACCESS TO CERTAIN INFORMATION.

    (a) Access to Certain Information.--Subchapter II of chapter 7 of 
title 31, United States Code, is amended by adding at the end the 
following:
``Sec. 721. Access to certain information
    ``(a) No provision of the Social Security Act shall be construed to 
limit, amend, or supersede the authority of the Comptroller General to 
obtain any information, to inspect any record, or to interview any 
officer or employee under section 716 of this title, including with 
respect to any information disclosed to or obtained by the Secretary of 
Health and Human Services under part C or D of title XVIII of the 
Social Security Act.
    ``(b) No provision of the Federal Food, Drug, and Cosmetic Act 
shall be construed to limit, amend, or supersede the authority of the 
Comptroller General to obtain any information, to inspect any record, 
or to interview any officer or employee under section 716 of this 
title, including with respect to any information concerning any method 
or process which as a trade secret is entitled to protection.
    ``(c) No provision of the Hart-Scott-Rodino Antitrust Improvements 
Act of 1976 and the amendments made by that Act shall be construed to 
limit, amend, or supersede the authority of the Comptroller General to 
obtain any information, to inspect any record, or to interview any 
officer or employee under section 716 of this title, including with 
respect to any information disclosed to the Assistant Attorney General 
of the Antitrust Division of the Department of Justice or the Federal 
Trade Commission for purposes of pre-merger review under section 7A of 
the Clayton Act (15 U.S.C. 18a).
    ``(d)(1) The Comptroller General shall prescribe such policies and 
procedures as are necessary to protect from public disclosure 
proprietary or trade secret information obtained consistent with this 
section.
    ``(2) Nothing in this section shall be construed--
            ``(A) to alter or amend the prohibitions against the 
        disclosure of trade secret or other sensitive information 
        prohibited by section 1905 of title 18 and other applicable 
        laws; or
            ``(B) to affect the applicability of section 716(e) of this 
        title, including the protections against unauthorized 
        disclosure contained in that section, to information obtained 
        consistent with this section.''.
    (b) Clerical Amendment.--The analysis for chapter 7 of title 31, 
United States Code, is amended by inserting after the item relating to 
section 720 the following:

``721. Access to certain information.''.

SEC. 5. COMPTROLLER GENERAL REPORTS.

    Section 719 of title 31, United States Code, is amended--
            (1) in subsection (b)(1)(B), by striking ``and'' at the 
        end;
            (2) in subsection (b)(1)(C), by striking the period at the 
        end and inserting ``; and'';
            (3) by adding at the end of subsection (b)(1) the 
        following:
            ``(D) for agencies subject to sections 901 to 903 and other 
        agencies designated by the Comptroller General, an assessment 
        of their overall degree of cooperation in making personnel 
        available for interview, providing written answers to 
        questions, submitting to an oath authorized by the Comptroller 
        General under section 711, granting access to records, 
        providing timely comments to draft reports, adopting 
        recommendations in reports and responding to such other matters 
        as the Comptroller General deems appropriate.'';
            (4) in subsection (c)(2)(B), by striking ``and'' at the 
        end;
            (5) in subsection (c)(3), by striking the period at the end 
        and inserting ``; and'', and
            (6) by adding at the end of subsection (c) the following:
            ``(4) as soon as practicable when an agency does not, 
        within a reasonable time, respond to a request by the 
        Comptroller General regarding any matter described in 
        subsection (b)(1)(D).''.

            Passed the House of Representatives July 29, 2008.

            Attest:

                                            LORRAINE C. MILLER,

                                                                 Clerk.
[EX A]: Government Accountability Office Improvement Act of 2008 - Authorizes the Comptroller General to: (1) obtain federal agency records required to discharge his or her duties, including through bringing civil actions under this Act; (2) interview agency officers and employees to get information about agency duties, powers, activities, organization, and financial transactions; and (3) administer oaths to witnesses (currently, the Comptroller General may administer oaths to witnesses when auditing and settling accounts).

Requires the Comptroller General to prescribe such policies and procedures as are necessary to protect from public disclosure proprietary or trade secret information obtained under this Act.

Declares that no provision of the Social Security Act, the Federal Food, Drug, and Cosmetic Act, or the Hart-Scott-Rodino Antitrust Improvements Act of 1976 shall be construed to limit, amend, or supersede the authority of the Comptroller General to obtain information, inspect records, or interview specified agency officers or employees, including with respect to: (1) information disclosed to or obtained by the Secretary of Health and Human Services under the Social Security Act; (2) information concerning any method or process protected as a trade secret; and (3) information disclosed to the Assistant Attorney General of the Antitrust Division of the Department of Justice (DOJ) or the Federal Trade Commission (FTC) for purposes of pre-merger review under the Clayton Act. Declares that this Act shall not be construed to: (1) alter or amend the prohibitions against the disclosure of trade secret or other sensitive information; and (2) affect the applicability of requirements governing the availability of agency information to information obtained.

Requires the Comptroller General to: (1) report annually on the cooperation of agencies subject to the Chief Financial Officers Act of 1990 and other agencies designated by the Comptroller General in making personnel available for interviews, providing written answers to questions, submitting to an oath authorized by the Comptroller General, granting access to records, providing timely comments to draft reports, adopting report recommendations, and responding to such matters as the Comptroller General deems appropriate; and (2) report to Congress when agencies do not respond to requests regarding such matters.

[EX Q]: SECTION 1. MODIFICATIONS AND INCREASED VOLUME CAP WITH RESPECT TO 
              QUALIFIED MORTGAGE BONDS.

    (a) Use of Qualified Mortgage Bonds Proceeds for Subprime 
Refinancing Loans.--Section 143(k) of the Internal Revenue Code of 1986 
(relating to other definitions and special rules) is amended by adding 
at the end the following new paragraph:
            ``(12) Special rules for subprime refinancings.--
                    ``(A) In general.--In the case of a residence which 
                was originally financed by the mortgagor through a 
                qualified subprime loan, this section shall be applied 
                with the following modifications:
                            ``(i) Subsection (i)(1) (relating to 
                        mortgages must be new mortgages) shall not 
                        apply.
                            ``(ii) Subsection (a)(2)(D)(i) shall be 
                        applied by substituting `12-month period' for 
                        `42-month period' each place it appears.
                            ``(iii) Subsection (d) (relating to 3-year 
                        requirement) shall not apply.
                            ``(iv) Subsection (e) (relating to purchase 
                        price requirement) shall be applied by using 
                        the market value of the residence at the time 
                        of refinancing in lieu of the acquisition cost.
                    ``(B) Qualified subprime loan.--
                            ``(i) In general.--The term `qualified 
                        subprime loan' means an adjustable rate single-
                        family residential mortgage loan originated 
                        after December 31, 2001, and before January 1, 
                        2008, that the bond issuer determines has 
                        characteristics that suggest both a reasonably 
                        foreseeable risk of default and a reasonable 
                        potential to avoid default with the benefit of 
                        a lower cost refinancing.
                            ``(ii) Considerations.--In making the 
                        determination under clause (i), the bond issuer 
                        may consider the following characteristics:
                                    ``(I) Loan payments which are 
                                scheduled to increase by more than 10 
                                percent after December 31, 2007, and 
                                before January 1, 2011.
                                    ``(II) A loan-to-value ratio of 97 
                                percent or greater at the time of the 
                                original mortgage loan or at the time 
                                of the refinancing of such loan after 
                                adjustment for any decline in the fair 
                                market value of the residence.
                                    ``(III) A borrower whose 
                                creditworthiness is relatively low in 
                                comparison to a prime borrower, based 
                                on a lower credit score, such as a Fair 
                                Isaac Credit Organization credit score 
                                at the time of the original subprime 
                                loan of less than 660 and the absence 
                                of an increase in such score by more 
                                than 10 percent since the time of the 
                                original loan.
                                    ``(IV) Whether loan payments on the 
                                original mortgage loan generally have 
                                been made in a current, timely manner, 
                                subject only to isolated late payments.
                    ``(C) Termination.--This paragraph shall not apply 
                to any bonds issued after December 31, 2010.''.
    (b) Increased Volume Cap for Qualified Mortgage Bonds.--
            (1) In general.--Subsection (d) of section 146 of the 
        Internal Revenue Code of 1986 is amended by adding at the end 
        the following new paragraph:
            ``(5) Increase and set aside for qualified mortgage bonds 
        for 2008.--
                    ``(A) In general.--The State ceiling for calendar 
                year 2008 shall be increased by $15,000,000,000.
                    ``(B) Set aside.--
                            ``(i) In general.--Not less than an amount 
                        equal to each State's allocable share of the 
                        increase in the State ceiling under 
                        subparagraph (A) shall be allocated solely for 
                        the purpose of a qualified mortgage issue which 
                        meets the requirement clause (ii).
                            ``(ii) Requirement.--A qualified mortgage 
                        issue meets the requirement of this clause if 
                        such issue meets the requirement of section 
                        143(a)(2)(D)(i) (determined by substituting 
                        `12-month period' for `42-month period' each 
                        place it appears).''.
            (2) Carryforward of unused limitations.--Subsection (f) of 
        section 146 of such Code is amended by adding at the end the 
        following new paragraph:
            ``(6) Special rules for increased volume cap under 
        subsection (d)(5).--No amount which is attributable to the 
        increase under subsection (d)(5) may be used--
                    ``(A) for a carryforward purpose other than issuing 
                qualified mortgage bonds, and
                    ``(B) to issue any bond after calendar year 
                2010.''.
    (c) Alternative Minimum Tax.--
            (1) In general.--Clause (ii) of section 57(a)(5)(C) of the 
        Internal Revenue Code of 1986 is amended by striking ``shall 
        not include'' and all that follows and inserting ``shall not 
        include--
                                    ``(I) any qualified 501(c)(3) bond 
                                (as defined in section 145), or
                                    ``(II) any qualified mortgage bond 
                                (as defined in section 143(a)) or 
                                qualified veterans' mortgage bond (as 
                                defined in section 143(b)) issued after 
                                December 31, 2007, and before January 
                                1, 2011.''.
            (2) Conforming amendment.--The heading for section 
        57(a)(5)(C)(ii) is amended by striking ``qualified 501(c)(3) 
        bonds'' and inserting ``certain bonds''.
    (d) Effective Date.--The amendments made by this section shall 
apply to bonds issued after December 31, 2007.
[EX A]: Amends the Internal Revenue Code to: (1) allow proceeds of qualified mortgage bonds to be used to refinance certain residential subprime loans issued between 2002 and 2008; (2) increase in 2008 limitations on issuance amounts for qualified mortgage bonds; and (3) exempt tax-exempt interest on qualified mortgage or veterans' mortgage bonds issued before 2011 from the alternative minimum tax.

[EX Q]: That this Act may be 
cited as the ``Certified Development Company Enhancement and 
Improvement Act of 1997''.
    Sec. 2. Section 20 of the Small Business Act (15 U.S.C. 631 note) 
is amended by inserting the following new subsection:
    ``(r) The following program levels are authorized in financings as 
provided in section 7(a)(13) and section 504 of the Small Business 
Investment Act of 1958:
            ``(1) $3,000,000,000 for fiscal year 1998;
            ``(2) $3,500,000,000 for fiscal year 1999; and
            ``(3) $4,500,000,000 for fiscal year 2000.''.
    Sec. 3. Section 503 of the Small Business Investment Act of 1958 
(15 U.S.C. 697) is amended--
            (a) by striking subsection (b)(7)(A) and inserting the 
        following:
                    ``(A) assesses and collects a fee, which shall be 
                payable by the borrower, in an amount equal to 0.9375 
                percent per year of the outstanding balance of the 
                loan; and'';
            (b) by striking from subsection (d)(2) ``equal to 50 basis 
        points'' and inserting ``equal to not more than 50 basis 
        points'';
            (c) by adding the following at the end of subsection 
        (d)(2): ``The amount of the fee authorized herein shall be 
        established annually by the Administration in the minimal 
        amount necessary to reduce the cost (as that term is defined in 
        section 502 of the Federal Credit Reform Act of 1990) to the 
        Administration of purchasing and guaranteeing debentures under 
        this Act to zero.''; and
            (d) by striking from subsection (f) ``1997'' and inserting 
        ``2000''.
    Sec. 4. Section 508(a) of the Small Business Investment Act of 1958 
(15 U.S.C. 697e(a)) is amended by striking ``not more than 15''.
    Sec. 5. Section 508(b)(2) of the Small Business Investment Act of 
1958 (15 U.S.C. 697e(b)(2)) is amended by striking paragraphs (A) and 
(B) and inserting:
                    ``(A) is an active certified development company in 
                good standing and has been an active participant in the 
                accredited lenders program during the entire 12-month 
                period preceding the date on which the company submits 
                an application under paragraph (1), except that the 
                Administration may waive this requirement if the 
                company is qualified to participate in the accredited 
                lenders program;
                    ``(B) has a history (i) of submitting to the 
                Administration adequately analyzed debenture guarantee 
                application packages and (ii) of properly closing 
                section 504 loans and servicing its loan portfolio; 
                and''.
    Sec. 6. Section 508(c) of the Small Business Investment Act of 1958 
(15 U.S.C. 697e(c)) is amended to read as follows:
    ``(c) Loss Reserve.--
            ``(1) Establishment.--A company designated as a premier 
        certified lender shall establish a loss reserve for financings 
        approved pursuant to this section.
            ``(2) Amount.--The amount of the loss reserve shall be 
        equal to 10 percent of the amount of the company's exposure as 
        determined under subsection (b)(2)(C).
            ``(3) Assets.--The loss reserve shall be comprised of any 
        combination of the following types of assets:
                    ``(A) segregated funds on deposit in an account or 
                accounts with a federally insured depository 
                institution or institutions selected by the company, 
                subject to a collateral assignment in favor of, and in 
                a format acceptable to, the Administration; or
                    ``(B) irrevocable letter or letters of credit, with 
                a collateral assignment in favor of, and a commercially 
                reasonable format acceptable to, the Administration.
            ``(4) Contributions.--The company shall make contributions 
        to the loss reserve, either cash or letters of credit as 
        provided above, in the following amounts and at the following 
        intervals;
                    ``(A) 50 percent when a debenture is closed;
                    ``(B) 25 percent additional not later than 1 year 
                after a debenture is closed; and
                    ``(C) 25 percent additional not later than 2 years 
                after a debenture is closed.
            ``(5) Replenishment.--If a loss has been sustained by the 
        Administration, any portion of the loss reserve, and other 
        funds provided by the premier company as necessary, may be used 
        to reimburse the Administration for the company's 10 percent 
        share of the loss as provided in subsection (b)(2)(C). If the 
        company utilizes the reserve, within 30 days it shall replace 
        an equivalent amount of funds.
            ``(6) Disbursements.--The Administration shall allow the 
        certified development company to withdraw from the loss reserve 
        amounts attributable to any debenture which has been repaid.''
    Sec. 7. Section 508 of the Small Business Investment Act of 1958 
(15 U.S.C. 697e) is amended by inserting the following after subsection 
(d) and by redesignating subsections (e) to (i) as (f) to (j):
    ``(e) Program Goals.--Certified development companies participating 
in this program shall establish a goal of processing a minimum of at 
least 50 percent of their loan applications for section 504 assistance 
pursuant to the premier certified lender program authorized in this 
section.''.
    Sec. 8. Section 508(g) of the Small Business Investment Act of 1958 
(15 U.S.C. 697e(g)), as redesignated herein, is amended by striking 
``State or local'' and inserting ``certified''.
    Sec. 9. Section 508(h) of the Small Business Investment Act of 1958 
(15U.S.C. 697e(h)), as redesignated herein, is amended--
            (1) by striking ``Effect of Suspension or Designation'' and 
        inserting ``Effect of Suspension or Revocation''; and
            (2) by striking ``under subsection (f)'' and inserting 
        ``under subsection (g)''.
    Sec. 10. Section 508(i) of the Small Business Investment Act of 
1958 (15 U.S.C. 697e(i)), as redesignated herein, is amended to read as 
follows:
    ``(i) Regulations.--Not later than 90 days after the date of 
enactment of this section, the Administration shall promulgate 
regulations to carry out this section. Not later than 120 days after 
the date of enactment, the Administration shall issue program 
guidelines and implement the changes made herein.''.
    Sec. 11. Section 508(j) of the Small Business Investment Act of 
1958 (15 U.S.C. 697e(j)), as redesignated herein, is amended by 
striking ``other lenders'' and inserting ``other lenders, specifically 
comparing default rates and recovery rates on liquidations''.
    Sec. 12. Section 217(b) of Public Law 103-403 (108 Stat. 4185) is 
repealed.
    Sec. 13. Section 508(d) of the Small Business Investment Act of 
1958 (15 U.S.C. 697e(d)) is amended by striking ``to approve loans'' 
and inserting ``to approve, authorize, close, service, and liquidate 
loans''.
    Sec. 14. Section 502(1) of the Small Business Investment Act of 
1958 (15 U.S.C. 696(1)) is amended to read as follows:
            ``(1) The proceeds of any such loan shall be used solely by 
        such borrower or borrowers to assist an identifiable small-
        business or businesses and for a sound business purpose 
        approved by the Administration.''.
    Sec. 15. Section 502 of the Small Business Investment Act of 1958 
(15 U.S.C. 696) is amended by adding the following new subsection:
            ``(5) Not to exceed 25 per centum of the project may be 
        leased by the assisted small business: Provided, That the 
        tenant is a small business concern: And provided further, That 
        the assisted small business shall be required to occupy and use 
        not less than 55 per centum of the space in the project after 
        the execution of any leases authorized in this section.''.
    Sec. 16. Section 502(3) of the Small Business Investment Act of 
1958 (15 U.S.C. 696(3)) is amended by inserting the following new 
paragraphs:
                    ``(D) Seller financing.--Seller provided financing 
                may be used to meet the requirements of--
                            ``(i) paragraph (B), if the seller 
                        subordinates his interest in the property to 
                        the debenture guaranteed by the Administration; 
                        and
                            ``(ii) not to exceed 50 percent of the 
                        amounts required by paragraph (C).
                    ``(E) Collateral requirements.--Collateral provided 
                by the small business concern shall be valued in an 
                amount estimated as the reasonable value of the 
                property by a willing buyer and a willing seller and 
                shall include property not a part of the project being 
                financed only if the Administration determines to 
                impose such a requirement on a case-by-case basis.''.
[EX A]:
Certified Development Company Enhancement and Improvement Act of 1997 - Amends the Small Business Act to authorize appropriations for FY 1998 through 2000 for the certified development company (CDC) program of the Small Business Investment Act of 1958 (the Act). 
(Sec. 3) Amends the Act to limit the fee authorized to be assessed and collected by the Small Business Administration (SBA) for each loan made from the proceeds of SBA debentures to a specified percentage of the outstanding balance of the loan.  Requires the amount of the fee authorized for administrative expenses under the CDC program to be established annually by the SBA in the minimal amount necessary to reduce to zero the SBA cost of purchasing and issuing debentures under the Act. Extends the applicability of the prescribed fees to financings approved before October 1, 2000. 
(Sec. 4) Repeals a provision limiting to 15 the number of CDC participants in the Premier Certified Lenders Program (Program).  Revises requirements for Program participation and the required loss reserve for Program financings.  Requires loss reserve replenishment within 30 days after its use.  Requires companies participating in the Program to establish a goal of processing a minimum of at least 50 percent of their total loan applications for CDC program assistance pursuant to the Program.  Revises the period for the promulgation of Program regulations and guidelines. 
(Sec. 12) Repeals a provision which provided for termination of the Program on October 1, 1997. 
(Sec. 13) Authorizes approved certified lenders to authorize, service, close, and liquidate loans under the Program. 
(Sec. 16) Allows up to 25 percent of a Program project for plant acquisition, construction, conversion, or expansion to be leased by the small business assisted under the project, provided such business meets specified conditions and requirements.  Permits any development company assisted under a project to finance any required project down payment. Provides for property valuation of collateral being provided by a small business under a project.