TASK DEFINITION: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as ``State Business Law Conformity Act of 
2004''.

SEC. 2. REFERENCES TO GENERAL PARTNERS.

    (a) Exclusion of Certain Active Businesses From at Risk Rules.--
Subclause (I) of section 465(c)(7)(D)(ii) of the Internal Revenue Code 
of 1986 (defining qualified corporate partner) is amended to read as 
follows:
                                    ``(I) such corporation is not 
                                prohibited or limited under State law 
                                from participation in the management or 
                                business of the partnership.''.
    (b) Payments to Retiring Partners.--Subparagraph (B) of section 
736(b)(3) of such Code (relating to limitation on application of 
paragraph (2)) is amended to read as follows:
                    ``(B) any portion of the retiring or deceased 
                partner's distributive share of partnership income was 
                subject to tax under section 1401.''.
    (c) Foreign Currency Transactions.--Subclause (I) of section 
988(c)(1)(E)(v) of such Code is amended to read as follows:
                                    ``(I) Certain general partners.--
                                The interest of a partner in the 
                                partnership shall not be treated as 
                                failing to meet the 20-percent 
                                ownership requirements of clause 
                                (iii)(I) for any taxable year of the 
                                partnership if for the taxable year of 
                                the partner in which such partnership 
                                taxable year ends--
                                            ``(aa) the partner is not 
                                        limited as to participation in 
                                        the management or activity of 
                                        the qualified fund, and
                                            ``(bb) such partner (and 
                                        each corporation filing a 
                                        consolidated return with such 
                                        partner) had no ordinary income 
                                        or loss from a section 988 
                                        transaction which is foreign 
                                        currency gain or loss (as the 
                                        case may be).''.
    (d) Special Valuation Rules for Generation-Skipping Tax.--Clause 
(ii) of section 2701(b)(2)(B) of such Code (relating to partnerships) 
is amended to read as follows:
                            ``(ii) in the case of a limited 
                        partnership, the holding of any interest as a 
                        partner who is not limited as to participation 
                        in management or activity of the 
                        partnership.''.
    (e) Tax Matters Partner.--Paragraph (7) of section 6231(a) of such 
Code (defining tax matters partner) is amended to read as follows:
            ``(7) Tax matters partner.--
                    ``(A) In general.--The tax matters partner of any 
                partnership is--
                            ``(i) the partner designated as the tax 
                        matters partner as provided in regulations, or
                            ``(ii) if there is no partner who has been 
                        so designated, the partner having the largest 
                        profits interest in the partnership at the 
                        close of the taxable year involved (or, where 
                        there is more than 1 such partner, the 1 of 
                        such partners whose name would appear first in 
                        an alphabetical listing).
                    ``(B) Selection by secretary.--If there is no 
                partner designated under subparagraph (A)(i) and the 
                Secretary determines that it is impracticable to apply 
                subparagraph (A)(ii), the partner selected by the 
                Secretary shall be treated as the tax matters partner. 
                The Secretary shall, within 30 days of selecting a tax 
                matters partner under the preceding sentence, notify 
                all partners required to receive notice under section 
                6223(a) of the name and address of the person selected.
                    ``(C) Restriction on designation of partner.--A 
                partner may not be designated as a tax matters partner 
                under subparagraph (A)(i) unless such partner is not 
                limited as to participation in management or activity 
                of the partnership.''.
    (f) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2004.

SEC. 3. REFERENCES TO LIMITED PARTNERS.

    (a) Limited Entrepreneur.--
            (1) In general.--Subparagraph (A) of section 464(e)(2) of 
        the Internal Revenue Code of 1986 (defining limited 
        entrepreneur) is amended by striking ``other than as a limited 
        partner''.
            (2) Conforming amendments.--
                    (A) Section 464(c) of such Code is amended--
                            (i) by striking ``limited partners or'' in 
                        paragraph (1)(B),
                            (ii) by striking ``a limited partner or'' 
                        in paragraph (2).
                    (B) Section 1256 of such Code is amended--
                            (i) by striking ``limited partners or'' 
                        each place it appears in subsections (e)(3)(B) 
                        and (f)(4),
                            (ii) by striking ``a limited partner or'' 
                        in subsection (e)(3)(C), and
                            (iii) by striking ``limited partner or'' 
                        both places it appears in the heading and text 
                        of subsection (e)(4)(A)(i).
                    (C) Section 1258(d)(5)(C) of such Code is amended--
                            (i) by striking ``limited partner or'' in 
                        the matter preceding subclause (i),
                            (ii) by striking ``limited partner's (or 
                        limited entrepreneur's) in subclause (i) and 
                        inserting ``limited entrepreneur's'', and
                            (iii) by striking ``partners and limited'' 
                        in the heading.
    (b) Passive Loss Rules.--
            (1) Subsection (h) of section 469 of such Code is amended 
        by striking paragraph (2) and by redesignating paragraphs (3), 
        (4), and (5) as paragraphs (2), (3), and (4), respectively.
            (2) Subparagraph (A) of section 469(c)(7) of such Code is 
        amended by striking the last sentence.
            (3) Paragraph (6) of section 469(i) of such Code is amended 
        by striking subparagraph (C) and by redesignating subparagraph 
        (D) as subparagraph (C).
            (4) Subsection (f) of section 772 of such Code (relating to 
        special rules for applying passive loss limitations) is amended 
        to read as follows:
    ``(f) Special Rules for Applying Passive Loss Limitations.--
            ``(1) In general.--If any person holds an interest in an 
        electing large partnership other than as a partner described in 
        paragraph (3)--
                    ``(A) paragraph (2) of subsection (c) shall not 
                apply to such partner, and
                    ``(B) such partner's distributive share of the 
                partnership items allocable to passive loss limitation 
                activities shall be taken into account separately to 
                the extent necessary to comply with the provisions of 
                section 469.
            ``(2) Exception.--Paragraph (1) shall not apply to any 
        items allocable to an interest held as a partner described in 
        paragraph (3).
            ``(3) Partner described.--For purposes of this subsection, 
        a partner is described in this paragraph if the partner is a 
        person whose participation in the management or business 
        activity of the partnership is limited under applicable State 
        law.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2004.

SEC. 4. PARTNERSHIP INCOME ATTRIBUTABLE TO CAPITAL EXCLUDED FROM NET 
              EARNINGS FROM SELF-EMPLOYMENT.

    (a) In General.--Paragraph (13) of section 1402(a) of the Internal 
Revenue Code of 1986 is amended to read as follows:
            ``(13) there shall be excluded the distributive share of 
        net income of a partner attributable to capital;''.
    (b) Partnership Income Attributable to Capital.--Section 1402 of 
such Code is amended by adding at the end the following new subsection:
    ``(l) Partnership Income Attributable to Capital.--
            ``(1) In general.--For purposes of subsection (a)(13), the 
        following amounts shall be treated as income attributable to 
        capital--
                    ``(A) the amount, if any, in excess of what would 
                constitute reasonable compensation for services 
                rendered by such partner to the partnership, and
                    ``(B) an amount equal to a reasonable rate of 
                return on unreturned capital of the partner determined 
                as of the beginning of the taxable year.
            ``(2) Definitions.--For purposes of paragraph (1)--
                    ``(A) Unreturned capital.--The term `unreturned 
                capital' means the excess of the aggregate amount of 
                money and the fair market value as of the date of 
                contribution of other consideration (net of 
                liabilities) contributed by the partner over the 
                aggregate amount of money and the fair market value as 
                of the date of distribution of other consideration (net 
                of liabilities) distributed by the partnership to the 
                partner, increased or decreased for the partner's 
                distributive share of all reportable items as 
                determined in section 702. If the partner acquires a 
                partnership interest and the partnership makes an 
                election under section 754, the partner's unreturned 
                capital shall take into account appropriate adjustments 
                under section 743.
                    ``(B) Reasonable rate of return.--A reasonable rate 
                of return on unreturned capital shall equal 150 percent 
                (or such higher rate as is established in regulations) 
                of the highest applicable Federal rate, as determined 
                under section 1274(d)(1), at the beginning of the 
                partnership's taxable year.
            ``(3) Regulations.--The Secretary shall prescribe such 
        regulations as may be necessary to carry out the purposes of 
        this subsection.''.
    (c) Effective Date.--The amendments made by this section shall 
apply with respect to services performed in taxable years beginning 
after December 31, 2004.

SEC. 5. REPEAL OF ABILITY TO ELECT LARGE PARTNERSHIP REPORTING RULES.

    (a) In General.--Paragraph (2) of section 775(a) of the Internal 
Revenue Code of 1986 (relating to election) is amended by adding at the 
end the following: ``No election under this subsection shall be made 
after December 31, 2004.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to partnership taxable years beginning after December 31, 2004.

SOLUTION: State Business Law Conformity Act of 2004 - Amends the Internal Revenue Code to: (1) revise certain partnership tax definitions and rules relating to general and limited partners; (2) exclude from net earnings from self-employment partnership income attributable to capital; and (3) repeal, after 2004, the election to apply large partnership (100 partners or more) tax rules.

PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Promoting Closed-Loop Pumped Storage 
Hydropower Act''.

SEC. 2. CLOSED-LOOP PUMPED STORAGE PROJECTS.

    Part I of the Federal Power Act (16 U.S.C. 792 et seq.) is amended 
by adding at the end the following:

``SEC. 34. CLOSED-LOOP PUMPED STORAGE PROJECTS.

    ``(a) Expedited Licensing Process for Closed-Loop Pumped Storage 
Projects.--
            ``(1) In general.--As provided in this section, the 
        Commission may issue and amend licenses and preliminary 
        permits, as appropriate, for closed-loop pumped storage 
        projects.
            ``(2) Rule.--Not later than 180 days after the date of 
        enactment of this section, the Commission shall issue a rule 
        establishing an expedited process for issuing and amending 
        licenses and preliminary permits for closed-loop pumped storage 
        projects under this section.
            ``(3) Interagency task force.--In establishing the 
        expedited process under this section, the Commission shall 
        convene an interagency task force, with appropriate Federal and 
        State agencies and Indian tribes represented, to coordinate the 
        regulatory processes associated with the authorizations 
        required to construct and operate closed-loop pumped storage 
        projects.
            ``(4) Length of process.--The Commission shall ensure that 
        the expedited process under this section will result in final 
        decision on an application for a license by not later than 2 
        years after receipt of a completed application for such 
        license.
    ``(b) Dam Safety.--Before issuing any license for a closed-loop 
pumped storage project, the Commission shall assess the safety of 
existing dams and other structures related to the project (including 
possible consequences associated with failure of such structures).
    ``(c) Exemptions From Other Requirements.--
            ``(1) In general.--In issuing or amending a license or 
        preliminary permit pursuant to the expedited process 
        established under this section, the Commission may grant an 
        exemption from any other requirement of this part with respect 
        to any part of the closed-loop pumped storage project (not 
        including any dam or other impoundment).
            ``(2) Consultation.--In granting an exemption under 
        paragraph (1), the Commission shall consult with the United 
        States Fish and Wildlife Service and the State agency 
        exercising administration over the fish and wildlife resources 
        of the State in which the closed-loop pumped storage project is 
        or will be located, in the manner provided by the Fish and 
        Wildlife Coordination Act (16 U.S.C. 661 et seq.).
            ``(3) Terms and conditions.--In granting an exemption under 
        paragraph (1), the Commission shall include in any such 
        exemption--
                    ``(A) such terms and conditions as the Fish and 
                Wildlife Service, National Marine Fisheries Service, 
                and the State agency described in paragraph (2) each 
                determine are appropriate to prevent loss of, or damage 
                to, fish and wildlife resources and to otherwise carry 
                out the purposes of the Fish and Wildlife Coordination 
                Act; and
                    ``(B) such terms and conditions as the Commission 
                deems appropriate to ensure that such closed-loop 
                pumped storage project continues to comply with the 
                provisions of this section and terms and conditions 
                included in any such exemption.
            ``(4) Fees.--The Commission, in addition to the 
        requirements of section 10(e), shall establish fees which shall 
        be paid by an applicant for a license for a closed-loop pumped 
        storage project that is required to meet terms and conditions 
        set by fish and wildlife agencies under paragraph (3). Such 
        fees shall be adequate to reimburse the fish and wildlife 
        agencies referred to in paragraph (3) for any reasonable costs 
        incurred in connection with any studies or other reviews 
        carried out by such agencies for purposes of compliance with 
        this section. The fees shall, subject to annual appropriations 
        Acts, be transferred to such agencies by the Commission for use 
        solely for purposes of carrying out such studies and shall 
        remain available until expended.
    ``(d) Transfers.--Notwithstanding section 5, and regardless of 
whether the holder of a preliminary permit for a closed-loop pumped 
storage project claimed municipal preference under section 7(a) when 
obtaining the permit, the Commission may, to facilitate development of 
a closed-loop pumped storage project--
            ``(1) add entities as joint permittees following issuance 
        of a preliminary permit; and
            ``(2) transfer a license in part to one or more 
        nonmunicipal entities as co-licensees with a municipality, if 
        the municipality retains majority ownership of the project for 
        which the license was issued.
    ``(e) Interagency Communications.--Interagency cooperation in the 
preparation of environmental documents under the National Environmental 
Policy Act of 1969 (42 U.S.C. 4321 et seq.) with respect to an 
application for a license for a closed-loop pumped storage project 
submitted pursuant to this section, and interagency communications 
relating to licensing process coordination pursuant to this section, 
shall not--
            ``(1) be considered to be ex parte communications under 
        Commission rules; or
            ``(2) preclude an agency from participating in a licensing 
        proceeding under this part.
    ``(f) Developing Abandoned Mines for Pumped Storage.--
            ``(1) Workshop.--Not later than 6 months after the date of 
        enactment of this section, the Commission shall hold a workshop 
        to explore potential opportunities for development of closed-
        loop pumped storage projects at abandoned mine sites.
            ``(2) Guidance.--Not later than 1 year after the date of 
        enactment of this section, the Commission shall issue guidance 
        to assist applicants for licenses or preliminary permits for 
        closed-loop pumped storage projects at abandoned mine sites.
    ``(g) Qualifying Criteria for Closed-Loop Pumped Storage 
Projects.--
            ``(1) In general.--The Commission shall establish criteria 
        that a pumped storage project shall meet in order to qualify as 
        a closed-loop pumped storage project eligible for the expedited 
        process established under this section.
            ``(2) Inclusions.--In establishing the criteria under 
        paragraph (1), the Commission shall include criteria requiring 
        that the pumped storage project--
                    ``(A) cause little to no change to existing surface 
                and groundwater flows and uses; and
                    ``(B) is unlikely to adversely affect species 
                listed as a threatened species or endangered species 
                under the Endangered Species Act of 1973.''.

SEC. 3. OBLIGATION FOR PAYMENT OF ANNUAL CHARGES.

    Section 10(e) of the Federal Power Act (16 U.S.C. 803(e)) is 
amended by adding at the end the following:
    ``(5) Any obligation of a licensee for payment of annual charges 
under this subsection shall commence when the construction of the 
applicable facility commences.''.

            Passed the House of Representatives December 12, 2017.

            Attest:

                                                 KAREN L. HAAS,

                                                                 Clerk.

SOLUTION: Promoting Closed-Loop Pumped Storage Hydropower Act (Sec.2)This bill amends the Federal Power Act to authorize the Federal Energy Regulatory Commission (FERC) to establish an expedited licensing process for issuing and amending licenses and preliminary permits for closed-loop pumped storage projects (in which the upper and lower reservoirs do not impound or directly withdraw water from navigable waters, or that are not continuously connected to a naturally flowing water feature). In establishing the expedited process, FERC shall convene an interagency task force with appropriate federal and state agencies and Indian tribes to coordinate the regulatory process associated with the authorizations required to construct and operate closed-loop pumped storage projects. FERC must assess the safety of existing dams and other structures related to the project before issuing any license for a closed-loop storage project. FERC must hold a workshop to explore potential opportunities for development of storage projects at abandoned mine sites. FERC must also establish criteria that a project shall meet to qualify as a closed-loop pumped storage under this bill, including requiring that the project cause little to no change to existing surface and groundwater flows and uses and that the project is unlikely to adversely affect species listed as threatened or endangered under the Endangered Species Act of 1973. (Sec.3)Licensees are not required to pay an annual charge for administrative expenses until construction commences.

PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Empower States Act of 2013''.

SEC. 2. REGULATION OF OIL OR NATURAL GAS DEVELOPMENT ON FEDERAL LAND IN 
              STATES.

    The Mineral Leasing Act is amended--
            (1) by redesignating section 44 (30 U.S.C. 181 note) as 
        section 45; and
            (2) by inserting after section 43 (30 U.S.C. 226-3) the 
        following:

``SEC. 44. REGULATION OF OIL OR NATURAL GAS DEVELOPMENT ON FEDERAL LAND 
              IN STATES.

    ``(a) In General.--Subject to subsection (b), the Secretary of the 
Interior shall not issue or promulgate any guideline or regulation 
relating to oil or gas exploration or production on Federal land in a 
State if the State has otherwise met the requirements under this Act or 
any other applicable Federal law.
    ``(b) Exception.--The Secretary may issue or promulgate guidelines 
and regulations relating to oil or gas exploration or production on 
Federal land in a State if the Secretary of the Interior determines 
that as a result of the oil or gas exploration or production there is 
an imminent and substantial danger to the public health or 
environment.''.

SEC. 3. REGULATIONS.

    Part E of the Safe Drinking Water Act (42 U.S.C. 300j et seq.) is 
amended by adding at the end the following:

``SEC. 1459. REGULATIONS.

    ``(a) Comments Relating to Oil and Gas Exploration and 
Production.--Before issuing or promulgating any guideline or regulation 
relating to oil and gas exploration and production on Federal, State, 
tribal, or fee land pursuant to this Act, the Federal Water Pollution 
Control Act (33 U.S.C. 1251 et seq.), the Clean Air Act (42 U.S.C. 7401 
et seq.), the Act entitled `An Act to regulate the leasing of certain 
Indian lands for mining purposes', approved May 11, 1938 (commonly 
known as the `Indian Mineral Leasing Act of 1938') (25 U.S.C. 396a et 
seq.), the Mineral Leasing Act (30 U.S.C. 181 et seq.), or any other 
provision of law or Executive order, the head of a Federal department 
or agency shall seek comments from and consult with the head of each 
affected State, State agency, and Indian tribe at a location within the 
jurisdiction of the State or Indian tribe, as applicable.
    ``(b) Statement of Energy and Economic Impact.--Each Federal 
department or agency described in subsection (a) shall develop a 
Statement of Energy and Economic Impact, which shall consist of a 
detailed statement and analysis supported by credible objective 
evidence relating to--
            ``(1) any adverse effects on energy supply, distribution, 
        or use, including a shortfall in supply, price increases, and 
        increased use of foreign supplies; and
            ``(2) any impact on the domestic economy if the action is 
        taken, including the loss of jobs and decrease of revenue to 
        each of the general and educational funds of the State or 
        affected Indian tribe.
    ``(c) Regulations.--
            ``(1) In general.--A Federal department or agency shall not 
        impose any new or modified regulation unless the head of the 
        applicable Federal department or agency determines--
                    ``(A) that the rule is necessary to prevent 
                imminent substantial danger to the public health or the 
                environment; and
                    ``(B) by clear and convincing evidence, that the 
                State or Indian tribe does not have an existing 
                reasonable alternative to the proposed regulation.
            ``(2) Disclosure.--Any Federal regulation promulgated on or 
        after the date of enactment of this paragraph that requires 
        disclosure of hydraulic fracturing chemicals shall refer to the 
        database managed by the Ground Water Protection Council and the 
        Interstate Oil and Gas Compact Commission (as in effect on the 
        date of enactment of this Act).
    ``(d) Judicial Review.--
            ``(1) In general.--With respect to any regulation described 
        in this section, a State or Indian tribe adversely affected by 
        an action carried out under the regulation shall be entitled to 
        review by a United States district court located in the State 
        or the District of Columbia of compliance by the applicable 
        Federal department or agency with the requirements of this 
        section.
            ``(2) Action by court.--
                    ``(A) In general.--A district court providing 
                review under this subsection may enjoin or mandate any 
                action by a relevant Federal department or agency until 
                the district court determines that the department or 
                agency has complied with the requirements of this 
                section.
                    ``(B) Damages.--The court shall not order money 
                damages.
            ``(3) Scope and standard of review.--In reviewing a 
        regulation under this subsection--
                    ``(A) the court shall not consider any evidence 
                outside of the record that was before the agency; and
                    ``(B) the standard of review shall be de novo.''.

SOLUTION:
Empower States Act of 2013 - Amends the Mineral Leasing Act to prohibit the Secretary of the Interior from issuing or promulgating any guideline or regulation relating to oil or gas exploration or production on federal land in a state if the state has otherwise met the requirements under applicable federal law, unless the Secretary determines that as a result of the exploration or production there is an imminent and substantial danger to the public health or the environment. Amends the Safe Drinking Water Act to require the head of a federal department or agency, before issuing or promulgating any guideline or regulation relating to oil and gas exploration and production on federal, state, tribal, or fee land pursuant to federal law or executive order, to seek comments from and consult with the head of each affected state, state agency, and Indian tribe at a location within their jurisdiction. Requires federal departments and agencies to develop Statements of Energy and Economic Impact that detail and analyze: (1) adverse effects of an action on energy supply, distribution, or use; and (2) impact on the domestic economy if the action is taken. Prohibits imposition of any new or modified oil and gas regulation unless the head of the applicable department or agency determines: (1) that the rule is necessary to prevent immediate harm to human health or the environment, and (2) by clear and convincing evidence that the state or tribe does not have an existing reasonable alternative to the proposed regulation. Requires any regulation promulgated after enactment of this Act that requires disclosure of hydraulic fracturing chemicals to refer to the database managed by the Ground Water Protection Council and the Interstate Oil and Gas Compact Commission. Sets forth procedures for judicial review of such regulations.