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 ``Privacy and Civil Liberties 
Oversight Enhancement Act''.

SEC. 2. SUBMISSION OF REPORTS UNDER THE FOREIGN INTELLIGENCE 
              SURVEILLANCE ACT OF 1978 TO THE PRIVACY AND CIVIL 
              LIBERTIES OVERSIGHT BOARD.

    (a) References.--Except as otherwise expressly provided, whenever 
in this Act an amendment or repeal is expressed in terms of an 
amendment to, or repeal of, a section or other provision, the reference 
shall be considered to be made to a section or other provision of the 
Foreign Intelligence Surveillance Act of 1978 (50 U.S.C. 1801 et seq.).
    (b) Foreign Intelligence Surveillance Court Rules.--Section 
103(g)(2) (50 U.S.C. 1803(g)(2)) is amended by adding at the end the 
following new subparagraph:
            ``(H) The Privacy and Civil Liberties Oversight Board.''.
    (c) Report of Electronic Surveillance.--Section 107 (50 U.S.C. 
1807) is amended in the matter preceding paragraph (1) by striking 
``Administrative Office of the United States Court and to Congress'' 
and inserting ``Administrative Office of the United States Court, 
Congress, and the Privacy and Civil Liberties Oversight Board''.
    (d) Oversight of Electronic Surveillance.--Section 108 (50 U.S.C. 
1808) is amended--
            (1) in the heading, by striking ``congressional''; and
            (2) in subsection (a)(1), by striking ``the House Permanent 
        Select Committee on Intelligence and the Senate Select 
        Committee on Intelligence, and the Committee on the Judiciary 
        of the Senate,'' and inserting ``the Permanent Select Committee 
        on Intelligence and the Committee on the Judiciary of the House 
        of Representatives, the Select Committee on Intelligence and 
        the Committee on the Judiciary of the Senate, and the Privacy 
        and Civil Liberties Oversight Board''.
    (e) Oversight of Physical Searches.--Section 306 (50 U.S.C. 1826) 
is amended--
            (1) in the heading, by striking ``congressional''; and
            (2) in the matter preceding paragraph (1)--
                    (A) in the first sentence, by striking ``the 
                Permanent Select Committee on Intelligence of the House 
                of Representatives and the Select Committee on 
                Intelligence of the Senate, and the Committee on the 
                Judiciary of the Senate,'' and inserting ``the 
                Permanent Select Committee on Intelligence of the House 
                of Representatives, the Select Committee on 
                Intelligence of the Senate, the Committees on the 
                Judiciary of the House of Representatives and the 
                Senate, and the Privacy and Civil Liberties Oversight 
                Board''; and
                    (B) in the second sentence, by striking ``those 
                committees and the Committee on the Judiciary of the 
                House of Representatives'' and inserting ``those 
                committees and the Privacy and Civil Liberties 
                Oversight Board''.
    (f) Oversight of Pen Registers and Trap and Trace Devices.--Section 
406 (50 U.S.C. 1846) is amended--
            (1) in the heading, by striking ``congressional'';
            (2) in subsection (a), by striking ``the Permanent Select 
        Committee on Intelligence of the House of Representatives and 
        the Select Committee on Intelligence of the Senate, and the 
        Committee on the Judiciary of the House of Representatives and 
        the Committee on the Judiciary of the Senate,'' and inserting 
        ``the Permanent Select Committee on Intelligence of the House 
        of Representatives, the Select Committee on Intelligence of the 
        Senate, the Committees on the Judiciary of the House of 
        Representatives and the Senate, and the Privacy and Civil 
        Liberties Oversight Board''; and
            (3) in subsection (b), by striking ``the committees 
        referred to in subsection (a) and to the Committees on the 
        Judiciary of the House of Representatives and the Senate'' and 
        inserting ``the committees referred to in subsection (a) and 
        the Privacy and Civil Liberties Oversight Board''.
    (g) Oversight of Production of Certain Business Records.--Section 
502 (50 U.S.C. 1862) is amended--
            (1) in the heading, by striking ``congressional'';
            (2) in subsection (a), by striking ``the Permanent Select 
        Committee on Intelligence of the House of Representatives and 
        the Select Committee on Intelligence and the Committee on the 
        Judiciary of the Senate'' and inserting ``the Permanent Select 
        Committee on Intelligence of the House of Representatives, the 
        Select Committee on Intelligence of the Senate, the Committees 
        on the Judiciary of the House of Representatives and the 
        Senate, and the Privacy and Civil Liberties Oversight Board''; 
        and
            (3) in subsection (b), by striking ``the House and Senate 
        Committees on the Judiciary and the House Permanent Select 
        Committee on Intelligence and the Senate Select Committee on 
        Intelligence'' and inserting ``the Permanent Select Committee 
        on Intelligence of the House of Representatives, the Select 
        Committee on Intelligence of the Senate, the Committees on the 
        Judiciary of the House of Representatives and the Senate, and 
        the Privacy and Civil Liberties Oversight Board''.
    (h) Semiannual Report of the Attorney General.--Section 601 (50 
U.S.C. 1871) is amended--
            (1) in subsection (a), by striking ``and the Committees on 
        the Judiciary of the House of Representatives and the Senate,'' 
        and inserting ``the Committees on the Judiciary of the House of 
        Representatives and the Senate, and the Privacy and Civil 
        Liberties Oversight Board'';
            (2) in subsection (c), by inserting ``and the Privacy and 
        Civil Liberties Oversight Board'' after ``subsection (a)''; and
            (3) in subsection (d), by inserting ``and the Privacy and 
        Civil Liberties Oversight Board'' after ``subsection (a)''.
    (i) Procedures for Targeting Certain Persons Outside the United 
States Other Than United States Persons.--Section 702(l) (50 U.S.C. 
1881a(l)) is amended--
            (1) in paragraph (1)--
                    (A) in subparagraph (A), by striking ``; and'' and 
                inserting a semicolon;
                    (B) in subparagraph (B)(ii), by striking the period 
                and inserting ``; and''; and
                    (C) by adding at the end the following new 
                subparagraph:
                    ``(C) the Privacy and Civil Liberties Oversight 
                Board.'';
            (2) in paragraph (2)(D)--
                    (A) in clause (ii), by striking ``; and'' and 
                inserting a semicolon;
                    (B) in clause (iii)(II), by striking the period and 
                inserting ``; and''; and
                    (C) by adding at the end the following new clause:
                            ``(iv) the Privacy and Civil Liberties 
                        Oversight Board.''; and
            (3) in paragraph (3)(C)--
                    (A) in clause (iii), by striking ``; and'' and 
                inserting a semicolon;
                    (B) in clause (iv)(II), by striking the period and 
                inserting ``; and''; and
                    (C) by adding at the end the following new clause:
                            ``(v) the Privacy and Civil Liberties 
                        Oversight Board.''.
    (j) Oversight of Procedures for Targeting Certain Persons Outside 
the United States Other Than United States Persons.--Section 707(a) (50 
U.S.C. 1881f(a)) is amended--
            (1) in the heading, by striking ``congressional''; and
            (2) by inserting ``and the Privacy and Civil Liberties 
        Oversight Board'' before ``concerning the implementation of 
        this title''.
[EX A]: Privacy and Civil Liberties Oversight Enhancement Act - Amends the Foreign Intelligence Surveillance Act of 1978 (FISA) to include the Privacy and Civil Liberties Oversight Board as a recipient of: (1) FISA court procedural rule changes, decisions, and pleadings; (2) the Attorney General's (DOJ) annual report to the Administrative Office of the U.S. Court regarding applications and orders for electronic surveillance; (3) the Attorney General's reports to Congress concerning electronic surveillance, physical searches, pen registers and trap and trace devices, production of tangible things (commonly referred to as business records), the number of persons targeted by the government under FISA authorities, and procedures for targeting persons; (4) reports by the Attorney General and the Director of National Intelligence (DNI) assessing compliance with minimization procedures for targeting persons reasonably believed to be located outside the United States other than U.S. persons, including reviews of the number of targets who were later determined to be located in the United States; and (5) annual reports of each element of the intelligence community authorized to acquire targeted foreign intelligence information.

[EX Q]: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Federal Response to Energy 
Emergencies Act of 2005''.

SEC. 2. UNCONSCIONABLE PRICING OF GASOLINE, OIL, NATURAL GAS, AND 
              PETROLEUM DISTILLATES DURING EMERGENCIES.

    (a) Unconscionable Pricing.--
            (1) In general.--During any energy emergency declared by 
        the President under section 3, it is unlawful for any person to 
        sell crude oil, gasoline, natural gas, or petroleum distillates 
        in, or for use in, the area to which that declaration applies 
        at a price that--
                    (A) is unconscionably excessive; or
                    (B) indicates the seller is taking unfair advantage 
                of the circumstances to increase prices unreasonably.
            (2) Factors considered.--In determining whether a violation 
        of paragraph (1) has occurred, there shall be taken into 
        account, among other factors, whether--
                    (A) the amount charged represents a gross disparity 
                between the price of the crude oil, gasoline, natural 
                gas, or petroleum distillate sold and the price at 
                which it was offered for sale in the usual course of 
                the seller's business immediately prior to the energy 
                emergency; or
                    (B) the amount charged grossly exceeds the price at 
                which the same or similar crude oil, gasoline, natural 
                gas, or petroleum distillate was readily obtainable by 
                other purchasers in the area to which the declaration 
                applies.
            (3) Mitigating factors.--In determining whether a violation 
        of paragraph (1) has occurred, there also shall be taken into 
        account, among other factors, whether the price at which the 
        crude oil, gasoline, natural gas, or petroleum distillate was 
        sold reasonably reflects additional costs, not within the 
        control of the seller, that were paid or incurred by the 
        seller.
    (b) False Pricing Information.--It is unlawful for any person to 
report information related to the wholesale price of crude oil, 
gasoline, natural gas, or petroleum distillates to the Federal Trade 
Commission if--
            (1) that person knew, or reasonably should have known, the 
        information to be false or misleading;
            (2) the information was required by law to be reported; and
            (3) the person intended the false or misleading data to 
        affect data compiled by that department or agency for 
        statistical or analytical purposes with respect to the market 
        for crude oil, gasoline, natural gas, or petroleum distillates.
    (c) Market Manipulation.--It is unlawful for any person, directly 
or indirectly, to use or employ, in connection with the purchase or 
sale of crude oil, gasoline, natural gas, or petroleum distillates at 
wholesale, any manipulative or deceptive device or contrivance, in 
contravention of such rules and regulations as the Federal Trade 
Commission may prescribe as necessary or appropriate in the public 
interest or for the protection of United States citizens.
    (d) Rulemaking.--Not later than 180 days after the date of the 
enactment of this Act, the Federal Trade Commission shall promulgate 
rules necessary and appropriate to enforce this section.

SEC. 3. DECLARATION OF ENERGY EMERGENCY.

    (a) In General.--If the President finds that the health, safety, 
welfare, or economic well-being of the citizens of the United States is 
at risk because of a shortage or imminent shortage of adequate supplies 
of crude oil, gasoline, natural gas, or petroleum distillates due to a 
disruption of the national distribution system for crude oil, gasoline, 
natural gas, or petroleum distillates (including such a shortage 
related to a major disaster (as defined in section 102(2) of the Robert 
T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 
5122))), or significant pricing anomalies in national or regional 
energy markets for crude oil, gasoline, natural gas, or petroleum 
distillates of a more than transient nature, the President may declare 
that a Federal energy emergency exists.
    (b) Scope and Duration.--The declaration shall apply to the Nation, 
a geographical region, or 1 or more States, as determined by the 
President, but may not be in effect for a period of more than 45 days.
    (c) Extensions.--The President may--
            (1) extend a declaration under subsection (a) for a period 
        of not more than 45 days; and
            (2) extend such a declaration more than once.

SEC. 4. ENFORCEMENT BY THE FEDERAL TRADE COMMISSION.

    (a) Enforcement by FTC.--A violation of section 2 shall be treated 
as a violation of a rule defining an unfair or deceptive act or 
practice prescribed under section 18(a)(1)(B) of the Federal Trade 
Commission Act (15 U.S.C. 57a(a)(1)(B)). The Federal Trade Commission 
shall enforce this Act in the same manner, by the same means, and with 
the same jurisdiction as though all applicable terms and provisions of 
the Federal Trade Commission Act were incorporated into and made a part 
of this Act. In enforcing section 2(a) of this Act, the Commission 
shall give priority to enforcement actions concerning companies with 
total United States wholesale or retail sales of crude oil, gasoline, 
and petroleum distillates in excess of $500,000,000 per year.
    (b) Civil Penalties.--
            (1) In general.--Notwithstanding the penalties set forth 
        under the Federal Trade Commission Act, any person who violates 
        this Act shall be subject to the following penalties:
                    (A) Price gouging; unjust profits.--Any person who 
                violates section 2(a) of this Act shall be subject to--
                            (i) a fine of not more than 3 times the 
                        amount of profits gained by such person through 
                        such violation; or
                            (ii) a fine of not more than $3,000,000.
                    (B) False information; market manipulation.--Any 
                person who violates section 2(b) or 2(c) of this Act 
                shall be subject to a civil penalty of not more than 
                $1,000,000.
            (2) Method of assessment.--The penalties provided by 
        paragraph (1) shall be assessed in the same manner as civil 
        penalties imposed under section 5 of the Federal Trade 
        Commission Act (15 U.S.C. 45).
            (3) Multiple offenses; mitigating factors.--In assessing 
        the penalty provided by subsection (a)--
                    (A) each day of a continuing violation shall be 
                considered a separate violation; and
                    (B) the Federal Trade Commission shall take into 
                consideration the seriousness of the violation and the 
                efforts of the person committing the violation to 
                remedy the harm caused by the violation in a timely 
                manner.

SEC. 5. CRIMINAL PENALTIES.

    Any person who violates section 2 or any rule or order issued 
thereunder shall be fined under title 18, United States Code--
            (1) if a corporation, not to exceed $100,000,000; or
            (2) if any other person, not to exceed $1,000,000, or 
        imprisoned for not more than 10 years, or both.

SEC. 6. ENFORCEMENT AT RETAIL LEVEL BY STATE ATTORNEYS GENERAL.

    (a) In General.--A State, as parens patriae, may bring a civil 
action on behalf of its residents in an appropriate district court of 
the United States to enforce the provisions of section 2(a) of this 
Act, or to impose the civil penalties authorized by section 4(b)(1)(B), 
whenever the attorney general of the State has reason to believe that 
the interests of the residents of the State have been or are being 
threatened or adversely affected by a violation of this Act or a 
regulation under this Act.
    (b) Notice.--The State shall serve written notice to the Federal 
Trade Commission of any civil action under subsection (a) prior to 
initiating such civil action. The notice shall include a copy of the 
complaint to be filed to initiate such civil action, except that if it 
is not feasible for the State to provide such prior notice, the State 
shall provide such notice immediately upon instituting such civil 
action.
    (c) Authority to Intervene.--Upon receiving the notice required by 
subsection (b), the Federal Trade Commission may intervene in such 
civil action and upon intervening--
            (1) be heard on all matters arising in such civil action; 
        and
            (2) file petitions for appeal of a decision in such civil 
        action.
    (d) Construction.--For purposes of bringing any civil action under 
subsection (a), nothing in this section shall prevent the attorney 
general of a State from exercising the powers conferred on the attorney 
general by the laws of such State to conduct investigations or to 
administer oaths or affirmations or to compel the attendance of 
witnesses or the production of documentary and other evidence.
    (e) Venue; Service of Process.--In a civil action brought under 
subsection (a)--
            (1) the venue shall be a judicial district in which--
                    (A) the defendant operates;
                    (B) the defendant was authorized to do business; or
                    (C) where the defendant in the civil action is 
                found;
            (2) process may be served without regard to the territorial 
        limits of the district or of the State in which the civil 
        action is instituted; and
            (3) a person who participated with the defendant in an 
        alleged violation that is being litigated in the civil action 
        may be joined in the civil action without regard to the 
        residence of the person.
    (f) Limitation on State Action While Federal Action Is Pending.--If 
the Federal Trade Commission has instituted a civil action or an 
administrative action for violation of this Act, no State attorney 
general, or official or agency of a State, may bring an action under 
this subsection during the pendency of that action against any 
defendant named in the complaint of the Federal Trade Commission or the 
other agency for any violation of this Act alleged in the complaint.
    (g) Enforcement of State Law.--Nothing contained in this section 
shall prohibit an authorized State official from proceeding in State 
court to enforce a civil or criminal statute of such State.

SEC. 7. LOW INCOME ENERGY ASSISTANCE.

    Amounts collected in fines and penalties under sections 4 or 5 of 
this Act shall be deposited in a separate fund in the treasury to be 
known as the Consumer Relief Trust Fund. To the extent provided for in 
advance in appropriations Acts fund shall be used to provide assistance 
under the Low Income Home Energy Assistance Program administered by the 
Secretary of Health and Human Services.

SEC. 8. EFFECT ON OTHER LAWS.

    (a) Other Authority of Federal Trade Commission.--Nothing in this 
Act shall be construed to limit or affect in any way the Federal Trade 
Commission's authority to bring enforcement actions or take any other 
measure under the Federal Trade Commission Act (15 U.S.C. 41 et seq.) 
or any other provision of law.
    (b) State Law.--Nothing in this Act preempts any State law.

SEC. 9. MARKET TRANSPARENCY FOR CRUDE OIL, GASOLINE, AND PETROLEUM 
              DISTILLATES.

    (a) In General.--The Federal Trade Commission shall facilitate 
price transparency in markets for the sale of crude oil and essential 
petroleum products at wholesale, having due regard for the public 
interest, the integrity of those markets, fair competition, and the 
protection of consumers.
    (b) Marketplace Transparency.--
            (1) Dissemination of information.--In carrying out this 
        section the Federal Trade Commission shall provide by rule for 
        the dissemination, on a timely basis, of information about the 
        availability and prices of wholesale crude oil, gasoline, and 
        petroleum distillates to the Federal Trade Commission, States, 
        wholesale buyers and sellers, and the public.
            (2) Protection of public from anticompetitive activity.--In 
        determining the information to be made available under this 
        section and time to make the information available, the Federal 
        Trade Commission shall seek to ensure that consumers and 
        competitive markets are protected from the adverse effects of 
        potential collusion or other anticompetitive behaviors that can 
        be facilitated by untimely public disclosure of transaction-
        specific information.
            (3) Protection of market mechanisms.--The Federal Trade 
        Commission shall withhold from public disclosure under this 
        section any information the Commission determines would, if 
        disclosed, be detrimental to the operation of an effective 
        market or jeopardize system security.
    (c) Information Sources.--
            (1) In general.--In carrying out subsection (b), the 
        Federal Trade Commission may--
                    (A) obtain information from any market participant; 
                and
                    (B) rely on entities other than the Commission to 
                receive and make public the information, subject to the 
                disclosure rules in subsection (b)(3).
            (2) Published data.--In carrying out this section, the 
        Federal Trade Commission shall consider the degree of price 
        transparency provided by existing price publishers and 
        providers of trade processing services, and shall rely on such 
        publishers and services to the maximum extent possible.
            (3) Electronic information systems.--The Federal Trade 
        Commission may establish an electronic information system if it 
        determines that existing price publications are not adequately 
        providing price discovery or market transparency. Nothing in 
        this section, however, shall affect any electronic information 
        filing requirements in effect under this Act as of the date of 
        enactment of this section.
            (4) De minimus exception.--The Federal Trade Commission may 
        not require entities who have a de minimus market presence to 
        comply with the reporting requirements of this section.
    (d) Cooperation With Other Federal Agencies.--
            (1) Memorandum of understanding.--Within 180 days after the 
        date of enactment of this Act, the Federal Trade Commission 
        shall conclude a memorandum of understanding with the Commodity 
        Futures Trading Commission and other appropriate agencies (if 
        applicable) relating to information sharing, which shall 
        include provisions--
                    (A) ensuring that information requests to markets 
                within the respective jurisdiction of each agency are 
                properly coordinated to minimize duplicative 
                information requests; and
                    (B) regarding the treatment of proprietary trading 
                information.
            (2) CFTC jurisdiction.--Nothing in this section may be 
        construed to limit or affect the exclusive jurisdiction of the 
        Commodity Futures Trading Commission under the Commodity 
        Exchange Act (7 U.S.C. 1 et seq.).
    (e) Rulemaking.--Within 180 days after the date of enactment of 
this Act, the Federal Trade Commission shall initiate a rulemaking 
proceeding to establish such rules as the Commission determines to be 
necessary and appropriate to carry out this section.

SEC. 10. REPORT ON UNITED STATES ENERGY EMERGENCY PREPAREDNESS.

    (a) Potential Impacts Report.--Within 30 days after the date of 
enactment of this Act, the Federal Trade Commission shall transmit to 
the Congress a confidential report describing the potential impact on 
domestic prices of crude oil, residual fuel oil, and refined petroleum 
products that would result from the disruption for periods of 1 week, 1 
year, and 5 years, respectively, of not less than--
            (1) 30 percent of United States oil production;
            (2) 20 percent of United States refinery capacity; and
            (3) 5 percent of global oil supplies.
    (b) Projections and Possible Remedies.--The President shall include 
in the report--
            (1) projections of the impact any such disruptions would be 
        likely to have on the United States economy; and
            (2) detailed and prioritized recommendations for remedies 
        under each scenario covered by the report.

SEC. 11. PROTECTIVE ACTION TO PREVENT FUTURE DISRUPTIONS OF SUPPLY.

    The Secretary of Energy and the Energy Information Administration 
shall review expenditures by, and activities undertaken by, companies 
with total United States wholesale or retail sales of crude oil, 
gasoline, and petroleum distillates in excess of $500,000,000 per year 
to protect the energy supply system from terrorist attacks, 
international supply disruptions, and natural disasters, and ensure a 
stable and reasonably priced supply of such products to consumers in 
the United States, and, not later than 180 days after the date of the 
enactment of this title, shall transmit a report of their findings to 
Congress. Such report shall include an assessment of the companies' 
preparations for the forecasted period of more frequent and more 
intense hurricane activity in the Gulf of Mexico and other vulnerable 
coastal areas.

SEC. 12. AUTHORIZATION OF APPROPRIATIONS.

    There are authorized to be appropriated such sums as may be 
necessary to carry out the provisions of this Act.
[EX A]: Federal Response to Energy Emergencies Act of 2005 - Declares unlawful: (1) unconscionable pricing of gasoline, oil, natural gas, and petroleum distillates during emergencies; (2) intentional reporting of false price information concerning wholesale prices of such products; and (3) market manipulation regarding the purchase or sale at wholesale of such products.

Authorizes the President to declare a federal energy emergency upon finding that the national health, safety, welfare, or economic well-being is at risk because of an actual or imminent shortage of such products due to a disruption of the national distribution system, or significant pricing anomalies in national or regional energy markets for the products.

Empowers the Federal Trade Commission (FTC) and State Attorneys General to enforce this Act.

Sets forth civil and criminal penalties for violations of this Act.

Requires fines and penalties collected under this Act to be deposited in a separate fund in the treasury to be known as the Consumer Relief Trust Fund to provide assistance under the Low Income Home Energy Assistance Program.

Directs the FTC to facilitate price transparency in wholesale markets for the sale of crude oil and essential petroleum products.

Instructs the FTC to transmit a confidential report to Congress on the potential impact on domestic prices of crude oil, residual fuel oil, and refined petroleum products that would result from the disruption for periods of one week, one year, and five years, respectively.

Directs the Secretary of Energy and the Energy Information Administration to review and report to Congress on expenditures and activities undertaken by certain size companies to protect the energy supply system from terrorist attacks, international supply disruptions, and natural disasters, and ensure a stable and reasonably priced supply of such products to consumers in the United States.

Requires such report to assess the companies' preparations for the forecasted period of more frequent and more intense hurricane activity in the Gulf of Mexico and other vulnerable coastal areas.

[EX Q]: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Debt Management and Fiscal 
Responsibility Act of 2016''.

SEC. 2. SECRETARY OF THE TREASURY REPORT TO CONGRESS BEFORE REACHING 
              DEBT LIMIT.

    (a) In General.--Subchapter II of chapter 31 of title 31, United 
States Code, is amended by adding at the end the following:
``Sec. 3131. Report before reaching debt limit
    ``(a) In General.--Not later than 60 days and not earlier than 21 
days before any date on which the Secretary of the Treasury anticipates 
the public debt will reach the limit specified under section 3101, as 
modified by section 3101A, the Secretary shall appear before the 
Committee on Ways and Means of the House of Representatives and the 
Committee on Finance of the Senate, to submit the information described 
under subsection (b).
    ``(b) Information Required To Be Presented.--In an appearance 
described under subsection (a), the Secretary of the Treasury shall 
submit the following:
            ``(1) Debt report.--A report on the state of the public 
        debt, including--
                    ``(A) the historical levels of the debt, current 
                amount and composition of the debt, and future 
                projections of the debt;
                    ``(B) the historical levels of Federal revenue, 
                including corporate and individual Federal income taxes 
                as a percent of the gross domestic product;
                    ``(C) the drivers and composition of future debt;
                    ``(D) how, if the debt limit is raised, the United 
                States will meet debt obligations, including principal 
                and interest;
                    ``(E) any reduction measures the Secretary intends 
                to take to fund Federal Government obligations if the 
                debt limit is not raised, including--
                            ``(i) notifying Congress when the limit has 
                        been reached; and
                            ``(ii) notifying Congress when the 
                        Secretary has begun taking such measures and 
                        specifying which measures are currently being 
                        used;
                    ``(F) if the President recommends that Congress 
                adopt, in general, a balanced budget amendment to the 
                Constitution of the United States to help control the 
                accumulation of future debt; and
                    ``(G) the most recent contingency plans formulated 
                for any default on United States Treasury securities 
                (stemming from, for example, cyberattack, terrorist 
                attack, severe weather event, debt limit impasse, or 
                any other contingency that could interrupt Treasury 
                access to funding markets) or downgrade of the credit 
                rating of the United States.
            ``(2) Statement of intent.--A detailed explanation of--
                    ``(A) proposals of the President to reduce the 
                public debt in the short term (the current and 
                following fiscal year), medium term (approximately 3 to 
                5 fiscal years), and long term (approximately 10 fiscal 
                years), and proposals of the President to adjust the 
                debt-to-gross domestic product ratio;
                    ``(B) the impact an increased debt limit will have 
                on future Federal Government spending, debt service, 
                and the position of the United States dollar as the 
                international reserve currency;
                    ``(C) projections of fiscal health and 
                sustainability of major direct-spending entitlement 
                programs (including Social Security, Medicare, and 
                Medicaid);
                    ``(D) the plan of the President for each week that 
                the debt of the United States is at the statutory 
                limit, to publicly disclose, on the Web site of the 
                Department of the Treasury--
                            ``(i) all reduction measures currently 
                        being used by the Secretary to avoid defaulting 
                        on obligations of the Federal Government;
                            ``(ii) with respect to each reduction 
                        measure, whether or not such measure is 
                        currently being used--
                                    ``(I) the total dollar amount of 
                                such measure that has been used; and
                                    ``(II) the total dollar amount of 
                                such measure that the Secretary 
                                estimates is still available for use; 
                                and
                            ``(iii) the date on which the Secretary 
                        estimates that all reduction measures will be 
                        exhausted, and the Federal Government will 
                        begin defaulting on its obligations; and
                    ``(E) any extraordinary measures the Secretary 
                intends to take to fund Federal Government obligations 
                if the debt limit is not raised, a projection of how 
                long such extraordinary measures will fund the Federal 
                Government, and a projection of the administrative cost 
                of taking such extraordinary measures.
            ``(3) Progress report.--
                    ``(A) In general.--A detailed report on the 
                progress of implementing all proposals of the President 
                described under subparagraph (A) of paragraph (2).
                    ``(B) Exception.--The report described under this 
                paragraph shall only be submitted if the Secretary of 
                the Treasury has already appeared at least once 
                pursuant to this section during any term of office for 
                a particular President.
    ``(c) Public Access to Information.--The Secretary of the Treasury 
shall place on the homepage of the Department of the Treasury a link to 
a webpage that shall serve as a repository of information made 
available to the public for at least 6 months following the date of 
release of the relevant information, including--
            ``(1) the debt report submitted under subsection (b)(1);
            ``(2) the detailed explanation submitted under subsection 
        (b)(2);
            ``(3) the progress report submitted under subsection 
        (b)(3); and
            ``(4) the comprehensive summaries of contingency plans 
        formulated for any debt default on United States Treasury 
        securities or downgrade of the credit rating of the United 
        States submitted under subsection (b)(1)(G).
    ``(d) Reduction Measures Defined.--For purposes of this section, 
the term `reduction measures' means each of the following:
            ``(1) Directing or approving the issuance of debt by the 
        Federal Financing Bank for the purpose of entering into an 
        exchange transaction for debt that is subject to the limit 
        under this section.
            ``(2) Suspending investments in the Government Securities 
        Investment Fund of the Thrift Savings Fund.
            ``(3) Suspending investments in the stabilization fund 
        established under section 5302.
            ``(4) Suspending new investments in the Civil Service 
        Retirement and Disability Fund or the Postal Service Retiree 
        Health Benefits Fund.
            ``(5) Selling or redeeming securities, obligations, or 
        other invested assets of the Civil Service Retirement and 
        Disability Fund or the Postal Service Retiree Health Benefits 
        Fund before maturity.
            ``(6) Such other measures as the Secretary determines 
        appropriate.''.
    (b) Clerical Amendment.--The table of sections for chapter 31 of 
title 31, United States Code, is amended by inserting after the item 
relating to section 3130 the following:

``3131. Report before reaching debt limit.''.

SEC. 3. ACCESS TO CERTAIN TREASURY DEPARTMENT DATA.

    Upon written request from the Chairman of the Committee on Finance 
of the Senate or the Committee on Ways and Means of the House of 
Representatives, the Secretary of the Treasury shall provide to the 
requesting Chairman financial and economic data relevant to determining 
the amount of the public debt of the United States, including--
            (1) cash flow and debt transaction information used in 
        preparing the Daily Treasury Statement, including current 
        balances, receipts, and payments;
            (2) operating cash balance projections;
            (3) relevant information regarding any extraordinary 
        measures taken to prevent the public debt from exceeding 
        limitation imposed by section 3101(b) of title 31, United 
        States Code, including--
                    (A) measures taken with respect to investments in 
                the Civil Service Retirement and Disability Fund;
                    (B) the suspension of the issuance of obligations 
                to the Government Securities Investment Fund In the 
                Thrift Savings Fund; and
                    (C) measures taken with respect to the 
                stabilization fund under section 5302 of title 31 of 
                such Code;
            (4) contingency plans for addressing delayed payments on 
        debt obligations; and
            (5) contingency plans for addressing ratings downgrades on 
        debt obligations.
[EX A]:
Debt Management and Fiscal Responsibility Act of 2016  This bill requires the Secretary of the Treasury to provide a report to Congress prior to any date on which Treasury anticipates the public debt will reach the statutory limit.  The Secretary must appear before the House Ways and Means Committee and the Senate Finance Committee to submit a report including:   historic, current, and projected levels of debt;  historic levels of revenue;  the drivers and composition of future debt;  how the United States will meet debt obligations if the debt limit is raised; reduction measures Treasury intends to take to fund obligations if the debt limit is not raised;  a recommendation regarding a balanced budget amendment to the U.S. Constitution; and contingency plans for any default on Treasury securities or downgrade of the U.S. credit rating.   The Secretary must also provide a detailed explanation of:   proposals to reduce the debt and a progress report on implementing them;  the impact an increased debt limit will have on future spending, debt service, and the position of the U.S. dollar as the international reserve currency;  projections of the fiscal health and sustainability of major entitlement programs;  measures Treasury is taking or intends to take to avoid default, including a plan to publicly disclose the details; and  Treasury's capability to pay only principal and interest on the debt if the limit is reached.   Treasury must make specified information required by this bill available to the public on its website. Upon request, Treasury must submit to Congress specified financial and economic data relevant to determining the amount of the public debt.