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PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Farm and Ranch Risk Management 
Act''.

SEC. 2. FARM AND RANCH RISK MANAGEMENT ACCOUNTS.

    (a) In General.--Subpart C of part II of subchapter E of chapter 1 
of the Internal Revenue Code of 1986 (relating to taxable year for 
which deductions taken) is amended by inserting after section 468B the 
following:

``SEC. 468C. FARM AND RANCH RISK MANAGEMENT ACCOUNTS.

    ``(a) Deduction Allowed.--In the case of an individual engaged in 
an eligible farming business or commercial fishing, there shall be 
allowed as a deduction for any taxable year the amount paid in cash by 
the taxpayer during the taxable year to a Farm and Ranch Risk 
Management Account (hereinafter referred to as the `FARRM Account').
    ``(b) Limitation.--
            ``(1) Contributions.--The amount which a taxpayer may pay 
        into the FARRM Account for any taxable year shall not exceed 20 
        percent of so much of the taxable income of the taxpayer 
        (determined without regard to this section) which is 
        attributable (determined in the manner applicable under section 
        1301) to any eligible farming business or commercial fishing.
            ``(2) Distributions.--Distributions from a FARRM Account 
        may not be used to purchase, lease, or finance any new fishing 
        vessel, add capacity to any fishery, or otherwise contribute to 
        the overcapitalization of any fishery. The Secretary of 
        Commerce shall implement regulations to enforce this paragraph.
    ``(c) Eligible Businesses.--For purposes of this section--
            ``(1) Eligible farming business.--The term `eligible 
        farming business' means any farming business (as defined in 
        section 263A(e)(4)) which is not a passive activity (within the 
        meaning of section 469(c)) of the taxpayer.
            ``(2) Commercial fishing.--The term `commercial fishing' 
        has the meaning given such term by section (3) of the Magnuson-
        Stevens Fishery Conservation and Management Act (16 U.S.C. 
        1802) but only if such fishing is not a passive activity 
        (within the meaning of section 469(c)) of the taxpayer.
    ``(d) FARRM Account.--For purposes of this section--
            ``(1) In general.--The term `FARRM Account' means a trust 
        created or organized in the United States for the exclusive 
        benefit of the taxpayer, but only if the written governing 
        instrument creating the trust meets the following requirements:
                    ``(A) No contribution will be accepted for any 
                taxable year in excess of the amount allowed as a 
                deduction under subsection (a) for such year.
                    ``(B) The trustee is a bank (as defined in section 
                408(n)) or another person who demonstrates to the 
                satisfaction of the Secretary that the manner in which 
                such person will administer the trust will be 
                consistent with the requirements of this section.
                    ``(C) The assets of the trust consist entirely of 
                cash or of obligations which have adequate stated 
                interest (as defined in section 1274(c)(2)) and which 
                pay such interest not less often than annually.
                    ``(D) All income of the trust is distributed 
                currently to the grantor.
                    ``(E) The assets of the trust will not be 
                commingled with other property except in a common trust 
                fund or common investment fund.
            ``(2) Account taxed as grantor trust.--The grantor of a 
        FARRM Account shall be treated for purposes of this title as 
        the owner of such Account and shall be subject to tax thereon 
        in accordance with subpart E of part I of subchapter J of this 
        chapter (relating to grantors and others treated as substantial 
        owners).
    ``(e) Inclusion of Amounts Distributed.--
            ``(1) In general.--Except as provided in paragraph (2), 
        there shall be includible in the gross income of the taxpayer 
        for any taxable year--
                    ``(A) any amount distributed from a FARRM Account 
                of the taxpayer during such taxable year, and
                    ``(B) any deemed distribution under--
                            ``(i) subsection (f)(1) (relating to 
                        deposits not distributed within 5 years),
                            ``(ii) subsection (f)(2) (relating to 
                        cessation in eligible farming business), and
                            ``(iii) subparagraph (A) or (B) of 
                        subsection (f)(3) (relating to prohibited 
                        transactions and pledging account as security).
            ``(2) Exceptions.--Paragraph (1)(A) shall not apply to--
                    ``(A) any distribution to the extent attributable 
                to income of the Account, and
                    ``(B) the distribution of any contribution paid 
                during a taxable year to a FARRM Account to the extent 
                that such contribution exceeds the limitation 
                applicable under subsection (b) if requirements similar 
                to the requirements of section 408(d)(4) are met.
        For purposes of subparagraph (A), distributions shall be 
        treated as first attributable to income and then to other 
        amounts.
    ``(f) Special Rules.--
            ``(1) Tax on deposits in account which are not distributed 
        within 5 years.--
                    ``(A) In general.--If, at the close of any taxable 
                year, there is a nonqualified balance in any FARRM 
                Account--
                            ``(i) there shall be deemed distributed 
                        from such Account during such taxable year an 
                        amount equal to such balance, and
                            ``(ii) the taxpayer's tax imposed by this 
                        chapter for such taxable year shall be 
                        increased by 10 percent of such deemed 
                        distribution.
                The preceding sentence shall not apply if an amount 
                equal to such nonqualified balance is distributed from 
                such Account to the taxpayer before the due date 
                (including extensions) for filing the return of tax 
                imposed by this chapter for such year (or, if earlier, 
                the date the taxpayer files such return for such year).
                    ``(B) Nonqualified balance.--For purposes of 
                subparagraph (A), the term `nonqualified balance' means 
                any balance in the Account on the last day of the 
                taxable year which is attributable to amounts deposited 
                in such Account before the 4th preceding taxable year.
                    ``(C) Ordering rule.--For purposes of this 
                paragraph, distributions from a FARRM Account (other 
                than distributions of current income) shall be treated 
                as made from deposits in the order in which such 
                deposits were made, beginning with the earliest 
                deposits.
            ``(2) Cessation in eligible business.--At the close of the 
        first disqualification period after a period for which the 
        taxpayer was engaged in an eligible farming business or 
        commercial fishing, there shall be deemed distributed from the 
        FARRM Account of the taxpayer an amount equal to the balance in 
        such Account (if any) at the close of such disqualification 
        period. For purposes of the preceding sentence, the term 
        `disqualification period' means any period of 2 consecutive 
        taxable years for which the taxpayer is not engaged in an 
eligible farming business or commercial fishing.
            ``(3) Certain rules to apply.--Rules similar to the 
        following rules shall apply for purposes of this section:
                    ``(A) Section 220(f)(8) (relating to treatment on 
                death).
                    ``(B) Section 408(e)(2) (relating to loss of 
                exemption of account where individual engages in 
                prohibited transaction).
                    ``(C) Section 408(e)(4) (relating to effect of 
                pledging account as security).
                    ``(D) Section 408(g) (relating to community 
                property laws).
                    ``(E) Section 408(h) (relating to custodial 
                accounts).
            ``(4) Time when payments deemed made.--For purposes of this 
        section, a taxpayer shall be deemed to have made a payment to a 
        FARRM Account on the last day of a taxable year if such payment 
        is made on account of such taxable year and is made on or 
        before the due date (without regard to extensions) for filing 
        the return of tax for such taxable year.
            ``(5) Individual.--For purposes of this section, the term 
        `individual' shall not include an estate or trust.
            ``(6) Deduction not allowed for self-employment tax.--The 
        deduction allowable by reason of subsection (a) shall not be 
        taken into account in determining an individual's net earnings 
        from self-employment (within the meaning of section 1402(a)) 
        for purposes of chapter 2.
    ``(g) Reports.--The trustee of a FARRM Account shall make such 
reports regarding such Account to the Secretary and to the person for 
whose benefit the Account is maintained with respect to contributions, 
distributions, and such other matters as the Secretary may require 
under regulations. The reports required by this subsection shall be 
filed at such time and in such manner and furnished to such persons at 
such time and in such manner as may be required by such regulations.''.
    (b) Tax on Excess Contributions.--
            (1) Subsection (a) of section 4973 of such Code (relating 
        to tax on excess contributions to certain tax-favored accounts 
        and annuities) is amended by striking ``or'' at the end of 
        paragraph (3), by redesignating paragraph (4) as paragraph (5), 
        and by inserting after paragraph (3) the following:
            ``(4) a FARRM Account (within the meaning of section 
        468C(d)), or''.
            (2) Section 4973 of such Code is amended by adding at the 
        end the following:
    ``(g) Excess Contributions to FARRM Accounts.--For purposes of this 
section, in the case of a FARRM Account (within the meaning of section 
468C(d)), the term `excess contributions' means the amount by which the 
amount contributed for the taxable year to the Account exceeds the 
amount which may be contributed to the Account under section 468C(b) 
for such taxable year. For purposes of this subsection, any 
contribution which is distributed out of the FARRM Account in a 
distribution to which section 468C(e)(2)(B) applies shall be treated as 
an amount not contributed.''.
            (3) The section heading for section 4973 of such Code is 
        amended to read as follows:

``SEC. 4973. EXCESS CONTRIBUTIONS TO CERTAIN ACCOUNTS, ANNUITIES, 
              ETC.''.

            (4) The table of sections for chapter 43 of such Code is 
        amended by striking the item relating to section 4973 and 
        inserting the following:

                              ``Sec. 4973. Excess contributions to 
                                        certain accounts, annuities, 
                                        etc.''.
    (c) Tax on Prohibited Transactions.--
            (1) Subsection (c) of section 4975 of such Code (relating 
        to tax on prohibited transactions) is amended by adding at the 
        end the following:
            ``(6) Special rule for farrm accounts.--A person for whose 
        benefit a FARRM Account (within the meaning of section 468C(d)) 
        is established shall be exempt from the tax imposed by this 
        section with respect to any transaction concerning such account 
        (which would otherwise be taxable under this section) if, with 
        respect to such transaction, the account ceases to be a FARRM 
        Account by reason of the application of section 468C(f)(3)(A) 
        to such account.''.
            (2) Paragraph (1) of section 4975(e) of such Code is 
        amended by redesignating subparagraphs (E) and (F) as 
        subparagraphs (F) and (G), respectively, and by inserting after 
        subparagraph (D) the following:
                    ``(E) a FARRM Account described in section 
                468C(d),''.
    (d) Failure To Provide Reports on FARRM Accounts.--Paragraph (2) of 
section 6693(a) of such Code (relating to failure to provide reports on 
certain tax-favored accounts or annuities) is amended by redesignating 
subparagraphs (C) and (D) as subparagraphs (D) and (E), respectively, 
and by inserting after subparagraph (B) the following:
                    ``(C) section 468C(g) (relating to FARRM 
                Accounts),''.
    (e) Clerical Amendment.--The table of sections for subpart C of 
part II of subchapter E of chapter 1 of such Code is amended by 
inserting after the item relating to section 468B the following:

                              ``Sec. 468C. Farm and Ranch Risk 
                                        Management Accounts.''.
    (f) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.

SOLUTION: Farm and Ranch Risk Management Act - Amends the Internal Revenue Code to allow an individual engaged in an eligible farming or commercial fishing business a deduction for any taxable year of up to 20 percent of taxable income attributable to the eligible farming or commercial fishing business which was paid in cash by the taxpayer to a Farm and Ranch Risk Management Account (FARRM Account).Includes distributions from a FARRM account in the taxpayer's gross income, and subjects to a special ten percent surtax any distributions not made within five years of contribution. Establishes a tax on excess contributions, but exempts the taxpayer from the tax on certain prohibited transactions.

PROBLEM: SECTION 1. INADMISSIBILITY OF ALIENS SUPPORTING INTERNATIONAL CHILD 
              ABDUCTORS AND RELATIVES OF SUCH ABDUCTORS.

    (a) In General.--Section 212(a)(10)(C)(ii) of the Immigration and 
Nationality Act (8 U.S.C. 1182(a)(10)(C)(ii)) is amended--
            (1) in subclause (I), by striking the comma at the end and 
        inserting a semicolon;
            (2) in subclause (II), by striking ``, or'' at the end and 
        inserting a semicolon;
            (3) by amending subclause (III) to read as follows:
                                    ``(III) is a spouse (other than the 
                                spouse who is the parent of the 
                                abducted child), child (other than the 
                                abducted child), parent, sibling, 
                                cousin, uncle, aunt, nephew, niece, or 
                                grandparent of an alien described in 
                                clause (i), is an agent of such an 
                                alien, or is a principal employing such 
                                an alien as an agent, if such person 
                                has been designated by the Secretary of 
                                State at the Secretary's sole and 
                                unreviewable discretion; or'' and
            (4) by adding at the end the following:
                                    ``(IV) is a spouse of the abducted 
                                child described in clause (i), if such 
                                person has been designated by the 
                                Secretary of State at the Secretary's 
                                sole and unreviewable discretion,
                        is inadmissible until such child is surrendered 
                        to the person granted custody by the order 
                        described in that clause, and such custodian 
                        and child are permitted to return to the United 
                        States or such custodian's place of 
                        residence.''.
    (b) Identification of Aliens Supporting Abductors and Relatives of 
Abductors; Notice to Custodial Parents and Guardians; Annual Report; 
Definitions.--Section 212(a)(10)(C) of the Immigration and Nationality 
Act (8 U.S.C. 1182(a)(10)(C)) is amended by adding at the end the 
following:
                            ``(iv) Identification of aliens supporting 
                        abductors and relatives of abductors.--In all 
                        instances in which an alien commits an act 
                        described in clause (i), the Secretary of State 
                        shall take appropriate action to identify the 
                        individuals who are inadmissible under clause 
                        (ii).
                            ``(v) Notice to custodial parents and 
                        guardians.--In all instances in which an alien 
                        commits an act described in clause (i), the 
                        Secretary of State shall, upon request of the 
                        person granted custody of the child concerned, 
                        inform the person of whether, and when, any 
                        individual who is inadmissible under clause 
                        (ii) by reason of such act has been issued a 
                        visa or otherwise authorized to enter the 
                        United States.
                            ``(vi) Annual report.--The Secretary of 
                        State annually shall submit to the Committee on 
                        International Relations, the Committee on 
                        Government Reform, and the Committee on the 
                        Judiciary of the United States House of 
                        Representatives, and the Committee on Foreign 
                        Relations, the Committee on Governmental 
                        Affairs, and the Committee on the Judiciary of 
                        the United States Senate, a report that 
                        provides, with respect to the preceding year, 
                        an accounting of the number of cases known to 
                        the Secretary of State, disaggregated according 
                        to the nationality of the alien concerned--
                                    ``(I) in which an authority under 
                                this subparagraph was exercised (and 
                                with respect to each such case, the 
                                specific ground for inadmissibility 
                                shall be specified); and
                                    ``(II) in which an authority under 
                                this subparagraph has not been 
                                exercised but in which an alien, after 
                                entry of an order by a court in the 
                                United States granting custody to a 
                                person of a United States citizen 
                                child, detained or retained the child, 
                                or withheld custody of the child, 
                                outside the United States from the 
                                person granted custody by that order.
                            ``(vii) Definitions.--For purposes of this 
                        subparagraph--
                                    ``(I) the term `child' means an 
                                individual who was a child at the time 
                                the individual was detained or 
                                retained, or at the time custody of the 
                                individual was withheld, as described 
                                in clause (i), regardless of the age or 
                                marital status of the individual after 
                                such time; and
                                    ``(II) the term `sibling' includes 
                                a step-sibling or half-sibling.''.

SOLUTION: Amends the Immigration and Nationality Act to prohibit the U.S. admission of aliens supporting international child abductors and relatives of such abductors until the child is surrendered to the legal custodian and such child and custodian are permitted to return to the United States or the custodian's residence. (Currently such prohibition applies to relatives of abductors.) Expands the scope of "relatives" to include cousins, uncles, aunts, nephews, nieces, and grandparents. Includes the spouse of the abducted child within such prohibition.Directs the Secretary of State to: (1) identify inadmissible aliens supporting child abductors and relatives of abductors; and (2) provide notice, upon request, to custodial parents and guardians if such an alien has been authorized to enter the United States.

PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Retirement Security for Today's 
Four-Year-Olds Act of 2011''.

SEC. 2. INCREASE IN THE FULL RETIREMENT AGE AND THE EARLY RETIREMENT 
              AGE.

    (a) In General.--Section 216(l) of the Social Security Act (42 
U.S.C. 416(l)) is amended to read as follows:

               ``Retirement Age and Early Retirement Age

    ``(l)(1) The term `retirement age' means--
            ``(A) with respect to an individual who attains the 
        applicable reference age (as defined in paragraph (4)) before 
        January 1, 2000, 65 years of age;
            ``(B) with respect to an individual who attains the 
        applicable reference age after December 31, 1999, and before 
        January 1, 2005, 65 years of age plus the number of months in 
        the first age increase factor (as determined under paragraph 
        (3)(A)) for the calendar year in which such individual attains 
        the applicable reference age;
            ``(C) with respect to an individual who attains the 
        applicable reference age after December 31, 2004, and before 
        January 1, 2017, 66 years of age;
            ``(D) with respect to an individual who attains the 
        applicable reference age after December 31, 2016, and before 
        January 1, 2022, 66 years of age plus the number of months in 
        the first age increase factor (as determined under paragraph 
        (3)(A)) for the calendar year in which such individual attains 
        the applicable reference age;
            ``(E) with respect to an individual who attains the 
        applicable reference age after December 31, 2021, and before 
        January 1, 2023, 67 years of age;
            ``(F) with respect to an individual who attains the 
        applicable reference age after December 31, 2022, and before 
        January 1, 2069, 67 years of age plus the number of months in 
        the second age increase factor (as determined under paragraph 
        (3)(B)) for the calendar year in which such individual attains 
        the applicable reference age; and
            ``(G) with respect to an individual who attains the 
        applicable reference age after December 31, 2068, 70 years of 
        age.
    ``(2) The term `early retirement age' means--
            ``(A) in the case of an old-age, wife's, or husband's 
        insurance benefit--
                    ``(i) with respect to an individual who attains the 
                applicable reference age before January 1, 2023, 62 
                years of age;
                    ``(ii) with respect to an individual who attains 
                the applicable reference age after December 31, 2022, 
                and before January 1, 2069, 62 years of age (in the 
                case of an old-age, wife's, or husband's insurance 
                benefit), plus the number of months in the second age 
                increase factor (as determined under paragraph (3)(B)) 
                for the calendar year in which such individual attains 
                the applicable reference age; and
                    ``(iii) with respect to an individual who attains 
                the applicable reference age after December 31, 2068, 
                65 years of age; and
            ``(B) in the case of a widow's or widower's insurance 
        benefit, 2 years less than the age provided under subparagraph 
        (A).
    ``(3)(A) The first retirement age increase factor for any 
individual who attains the applicable reference age in a calendar year 
within the 5-year period consisting of the calendar years 2000 through 
2004 or the calendar years 2017 through 2021 shall be equal to \2/12\ 
of the number of months in the period beginning with January of the 
first calendar year in such period and ending with December of the year 
in which the individual attains the applicable reference age.
    ``(B) The second retirement age increase factor for any individual 
who attains the applicable reference age in the 46-year period 
consisting of the calendar years 2023 through 2068 shall be equal to 
\3/47\ of the number of months in the period beginning with January 
2023 and ending with December of the year in which the individual 
attains the applicable reference age. In any case in which the second 
age increase factor for any calendar year is not a whole number of 
calendar months, such factor shall be deemed to be equal to the next 
lower whole number of calendar months.
    ``(4) The term `applicable reference age' means 62 years of age (in 
the case of an old-age, wife's, or husband's insurance benefit) and 60 
years of age (in the case of a widow's or widower's insurance 
benefit).''.
    (b) Conforming Extension of Maximum Age for Entitlement to Delayed 
Retirement Credit.--Section 202(w)(2)(A) of such Act (42 U.S.C. 
402(w)(2)(A)) is amended--
            (1) by striking ``prior to the month in which such 
        individual attained age 70, and'' and inserting ``prior to the 
        later of--''; and
            (2) by adding at the end the following:
                    ``(i) the month in which such individual would 
                attain age 70, or
                    ``(ii) the month which ends 3 years after the end 
                of the month in which such individual attained 
                retirement age (as defined in section 216(l)), and''.
    (c) Conforming Increase in Number of Elapsed Years for Purposes of 
Determining Primary Insurance Amount.--Section 215(b)(2)(B)(iii) of 
such Act (42 U.S.C. 415(b)(2)(B)(iii)) is amended by striking ``age 
62'' and inserting ``early retirement age''.
    (d) Study Relating to Additional Conforming Amendments.--
            (1) In general.--As soon as practicable after the date of 
        the enactment of this Act, the Commissioner of Social Security, 
        in consultation with the Secretary of the Treasury and the 
        Secretary of Health and Human Services, shall conduct a study 
        of the additional technical and conforming amendments to title 
        II of the Social Security Act and other relevant provisions of 
        law relating to the age of a beneficiary or applicant for 
        benefits which are necessary to effectively carry out the 
        programs provided for under such title and other provisions, 
        taking into account the amendments made by this section.
            (2) Report.--Not later than 1 year after the date of the 
        enactment of this Act, the Commissioner shall transmit to the 
        Committee on Ways and Means of the House of Representatives and 
        the Committee on Finance of the Senate a report of the results 
        of the study conducted pursuant to paragraph (1). The 
        Commissioner shall include in such report such recommendations 
        for legislative and administrative changes as the Commissioner, 
        in consultation with the Secretary of the Treasury and the 
        Secretary of Health and Human Services, determines to be 
        appropriate.

SOLUTION:
Retirement Security for Today's Four-Year Olds Act of 2011 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to increase the age for retirement to 70 and the early retirement age to 65 as of January 1, 2069.

Revises requirements accordingly for calculation of the first and the second retirement age increase factors.