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

Q: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Disability Equity Act''.

SEC. 2. ELIMINATION OF 5-MONTH WAITING PERIOD FOR BENEFITS BASED ON 
              DISABILITY.

    (a) Disability Insurance Benefits.--
            (1) In general.--The first sentence of section 223(a)(1) of 
        the Social Security Act (42 U.S.C. 423(a)(1)) is amended by 
        striking ``(i) for each month'' and all that follows through 
        ``the first month in which he is under such disability'' and 
        inserting the following: ``for each month beginning with the 
        first month during all of which such individual is under a 
        disability and in which such individual becomes so entitled to 
        such insurance benefits''.
            (2) Waiting period eliminated from determination of benefit 
        amount.--
                    (A) In general.--The first sentence of section 
                223(a)(2) of such Act (42 U.S.C. 423(a)(2)) is amended 
                by striking ``in--'' and all that follows through ``and 
                as though'' and inserting the following: ``in the first 
                month for which such individual becomes entitled to 
                such disability insurance benefits, and as though''.
                    (B) Conforming amendment.--The second sentence of 
                section 223(a)(2) of such Act (42 U.S.C. 423(a)(2)) is 
                amended by striking ``subparagraph (A) or (B) of such 
                sentence, as the case may be'' and inserting ``such 
                sentence''.
            (3) Elimination of defined term.--
                    (A) In general.--Section 223(c)(2) of such Act is 
                repealed.
                    (B) Conforming amendments.--
                            (i) The heading of section 223(c) of such 
                        Act (42 U.S.C. 423(c)) is amended to read as 
                        follows: ``Definition of Insured Status''.
                            (ii) Section 223(c)(1) of such Act (42 
                        U.S.C. 423(c)(1)) is amended by striking ``For 
                        purposes of subparagraph (B) of this paragraph, 
                        when the number of quarters'' in the last 
                        sentence and inserting the following:
            ``(2) In applying paragraph (1)(B), when the number of 
        quarters''.
    (b) Widow's Insurance Benefits Based on Disability.--
            (1) In general.--Section 202(e)(1)(F) of such Act (42 
        U.S.C. 402(e)(1)(F)) is amended to read as follows:
            ``(F) if she satisfies subparagraph (B) by reason of clause 
        (ii) thereof, the first month during all of which she is under 
        a disability and in which she becomes so entitled to such 
        insurance benefits,''.
            (2) Elimination of defined term.--Section 202(e) of such 
        Act (42 U.S.C. 402(e)) is amended--
                    (A) by striking paragraph (5); and
                    (B) by redesignating paragraphs (6), (7), and (8) 
                as paragraphs (5), (6), and (7), respectively.
    (c) Widower's Insurance Benefits Based on Disability.--
            (1) In general.--Section 202(f)(1)(F) of such Act (42 
        U.S.C. 402(f)(1)(F)) is amended to read as follows:
            ``(F) if he satisfies subparagraph (B) by reason of clause 
        (ii) thereof, the first month during all of which he is under a 
        disability and in which he becomes so entitled to such 
        insurance benefits,''.
            (2) Elimination of defined term.--Section 202(f) of such 
        Act (42 U.S.C. 402(f)) is amended--
                    (A) by striking paragraph (5); and
                    (B) by redesignating paragraphs (6), (7), and (8) 
                as paragraphs (5), (6), and (7), respectively.
    (d) Elimination of Waiting Period for Commencement of Periods of 
Disability.--Section 216(i)(2)(A) of such Act (42 U.S.C. 416(i)(2)(A)) 
is amended by striking ``, but only'' and all that follows and 
inserting a period.
    (e) Effective Dates.--The amendments made by subsection (a) shall 
apply with respect to benefits under section 223 of the Social Security 
Act, or under section 202 of such Act on the basis of the wages and 
self-employment income of an individual entitled to benefits under such 
section 223, for months following the month in which this Act is 
enacted. The amendments made by subsections (b) and (c) shall apply 
with respect to benefits based on disability under subsection (e) or 
(f) of section 202 of the Social Security Act (42 U.S.C. 402) for 
months following the month in which this Act is enacted. The amendment 
made by subsection (d) shall apply only with respect to applications 
for disability determinations filed under title II of the Social 
Security Act on or after the date of the enactment of this Act.

SEC. 3. ELIMINATION OF WAITING PERIOD FOR MEDICARE DISABILITY BENEFITS.

    (a) In General.--Section 226(b) of the Social Security Act (42 
U.S.C. 426(b)) is amended--
            (1) in paragraph (2)(A), by striking ``, and has for 24 
        calendar months been entitled to,'';
            (2) in paragraph (2)(B), by striking ``, and has been for 
        not less than 24 months,'';
            (3) in paragraph (2)(C)(ii), by striking ``, including the 
        requirement that he has been entitled to the specified benefits 
        for 24 months,''; and
            (4) in the flush matter following paragraph 
        (2)(C)(ii)(II)--
                    (A) in the matter before the first complete 
                sentence, by striking ``for each month beginning with 
                the later of (I) July 1973 or (II) the twenty-fifth 
                month of his'' and inserting ``for each month beginning 
                with the first month of the individual's'';
                    (B) in the first complete sentence, by striking 
                ``the `twenty-fifth month of his entitlement' refers to 
                the first month after the twenty-fourth month of 
                entitlement to specified benefits referred to in 
                paragraph (2)(C) and'' and inserting ``the `first month 
                of the individual's entitlement' refers to the first 
                month of entitlement to specified benefits referred to 
                in paragraph (2)(C) and''; and
                    (C) in the second complete sentence, by striking 
                ``, but not in excess of 78 such months''.
    (b) Conforming Amendments.--
            (1) Subsections (f) and (h) of section 226 of the Social 
        Security Act (42 U.S.C. 426) are repealed.
            (2) Section 1811(2) of such Act (42 U.S.C. 1395c(2)) is 
        amended by striking ``who have been entitled for not less than 
        24 months'' and inserting ``who are entitled''.
            (3) Section 1837(g)(1) of such Act (42 U.S.C. 1395p(g)(1)) 
        is amended by striking ``of the later of (A) April 1973 or (B) 
        the third month before the 25th month of such entitlement'' and 
        inserting ``of the first month of such entitlement''.
            (4) Section 7(d)(2)(ii) of the Railroad Retirement Act of 
        1974 (45 U.S.C. 231f(d)(2)(ii)) is amended--
                    (A) by striking ``, for not less than 24 months''; 
                and
                    (B) by striking ``could have been entitled for 24 
                calendar months, and could currently be entitled,'' and 
                inserting ``could currently be entitled''.
    (c) Effective Date.--The amendments made by this section shall 
apply to insurance benefits under title XVIII of the Social Security 
Act with respect to items and services furnished in months beginning 
after the date of the enactment of this Act.

A: Disability Equity Act - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to eliminate: (1) the five-month waiting period for an individual (including a disabled widow or widower) to be eligible for benefits based on disability; and (2) the waiting period for benefits under SSA title XVIII (Medicare).
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Q: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Civil Asset Forfeiture Reform Act''.

SEC. 2. LIMITATION OF CUSTOMS AND TAX EXEMPTION UNDER THE TORT CLAIMS 
              PROCEDURES.

    Section 2680(c) of title 28, United States Code, is amended by 
striking ``law-enforcement officer'' and inserting ``law enforcement 
officer, except that this chapter and section 1346(b) shall apply to a 
claim based on the negligent destruction, injury, or loss of goods or 
merchandise (including real property) while in the possession of an 
officer of customs or excise or any other law enforcement officer''.

SEC. 3. LONGER PERIOD FOR FILING CLAIMS IN CERTAIN IN REM PROCEEDINGS.

    Rule C(6) of the Supplemental Rules for Certain Admiralty and 
Maritime Claims to the Federal Rules of Civil Procedures (28 U.S.C. 
App.) is amended by striking ``10 days'' and inserting ``60 days''.

SEC. 4. CLAIM AFTER SEIZURE.

    Section 608 of the Tariff Act of 1930 (19 U.S.C. 1608) is amended 
to read as follows:

``SEC. 608. SEIZURE; CLAIMS; REPRESENTATION.

    ``(a) In General.--
            ``(1) Filing of claim.--At any time within 60 days after 
        the date on which a notice of seizure is first published, a 
        person who claims a vessel, vehicle, aircraft, merchandise, or 
        baggage seized under a law described in section 605 may file 
        with the appropriate customs officer a claim stating the 
        person's interest in the property.
            ``(2) Condemnation.--On filing of a claim under paragraph 
        (1), the customs officer shall transmit the claim, with a 
        duplicate list and description of the articles seized, to the 
        United States attorney for the district in which the seizure 
        was made, who shall proceed to a condemnation of the 
        merchandise or other property in the manner prescribed by law.
    ``(b) Court-Appointed Counsel.--
            ``(1) In general.--If a person filing a claim under 
        subsection (a), or a claim regarding property seized under 
        another law that incorporates by reference the seizure, 
        forfeiture, and condemnation procedures of the customs laws, is 
        financially unable to obtain representation of counsel, the 
        court may appoint appropriate counsel to represent the person 
        with respect to the claim.
            ``(2) Compensation.--(A) The court shall set the 
        compensation for counsel appointed under paragraph (1) in an 
        amount that is equivalent to that provided for counsel 
        appointed under section 3006A of title 18, United States Code.
            ``(B) Compensation of counsel appointed under paragraph (1) 
        shall be paid from the Justice Assets Forfeiture Fund 
        established under section 524 of title 28, United States 
        Code.''.

SEC. 5. BURDEN OF PROOF IN FORFEITURE PROCEEDINGS.

    Section 615 of the Tariff Act of 1930 (19 U.S.C. 1615) is amended 
to read as follows:

``SEC. 615. BURDEN OF PROOF IN FORFEITURE PROCEEDINGS.

    ``(a) In General.--In a suit or action described in subsection (b), 
the burden of proof is on the Government to establish by clear and 
convincing evidence that the property is subject to forfeiture.
    ``(b) Suits and Actions Described.--A suit or action is described 
in this subsection if it is--
            ``(1) a suit or action (other than a suit or action arising 
        under section 592) brought for the forfeiture of a vessel, 
        vehicle, aircraft, merchandise, or baggage seized under any law 
        relating to the collection of duties on imports or tonnage; or
            ``(2) a suit or action brought for the recovery of the 
        value of any vessel, vehicle, aircraft, merchandise, or 
        baggage, because of a violation of that law.''.

SEC. 6. RELEASE OF SEIZED PROPERTY FOR SUBSTANTIAL HARDSHIP.

    Section 614 of the Tariff Act of 1930 (19 U.S.C. 1614) is amended--
            (1) by inserting ``(a) Release Upon Payment.--'' before 
        ``If''; and
            (2) by adding at the end the following new subsection:
    ``(b) Release of Seized Property for Substantial Hardship.--
            ``(1) Request for release.--(A) A claimant is entitled to 
        immediate release of seized property if continued possession by 
        the Government would cause the claimant substantial hardship.
            ``(B) A claimant seeking release of property under this 
        subsection shall--
                    ``(i) request possession of the property from the 
                appropriate customs officer; and
                    ``(ii) state in the request the basis for such 
                release.
            ``(2) Civil action.--(A) If, within 10 days after the date 
        on which a request is made under paragraph (1), the subject 
        property has not been released, the claimant may file a 
        complaint in any district court that would have jurisdiction 
        over forfeiture proceedings relating to the property.
            ``(B) A complaint under subparagraph (B) shall state--
                    ``(i) the nature of the claim to the seized 
                property;
                    ``(ii) the reason why the continued possession by 
                the United States Government pending the final 
                disposition of forfeiture proceedings will cause 
                substantial hardship to the claimant; and
                    ``(iii) the steps that the claimant has taken to 
                secure release of the property from the appropriate 
                customs officer.
            ``(3) Return of property.--If a complaint is filed under 
        paragraph (2), the district court shall order that the property 
        be returned to the claimant, pending completion of proceedings 
        by the United States Government to obtain forfeiture of the 
        property, if the claimant shows that--
                    ``(A) the claimant is likely to demonstrate a 
                possessory interest in the seized property; and
                    ``(B) continued possession by the United States 
                Government of the seized property is likely to cause 
                substantial hardship to the claimant.
            ``(4) Conditions.--The court may place such conditions on 
        release of the property as the court finds are appropriate to 
        preserve the availability of the property or its equivalent for 
        forfeiture.
            ``(5) Time for decision.--The district court shall render a 
        decision on a complaint filed under paragraph (2) no later than 
        30 days after the date of the filing, unless such 30-day 
        limitation is extended by consent of the parties or by the 
        court for good cause shown.''.

SEC. 7. JUSTICE ASSETS FORFEITURE FUND.

    Section 524(c) of title 28, United States Code, is amended--
            (1) in paragraph (1)--
                    (A) in the matter preceding subparagraph (A) by 
                striking ``law enforcement'';
                    (B) by redesignating subparagraphs (H) and (I) as 
                subparagraphs (I) and (J), respectively; and
                    (C) by inserting after subparagraph (G) the 
                following new subparagraph:
            ``(H) payment of court-awarded compensation for 
        representation of claimants pursuant to section 608(b) of the 
        Tariff Act of 1930;''; and
            (2) in paragraph (9)(A), by striking ``(H)'' and inserting 
        ``(I)''.

SEC. 8. CLARIFICATION REGARDING FORFEITURES UNDER THE CONTROLLED 
              SUBSTANCES ACT.

    Section 511(a)(7) of the Controlled Substances Act (21 U.S.C. 
881(a)(7)) is amended by striking ``without the knowledge or consent of 
that owner'' and inserting ``either without the knowledge of that owner 
or without the consent of that owner''.

SEC. 9. APPLICABILITY.

    The amendments made by this Act apply with respect to claims filed 
under section 608 of the Tariff Act of 1930 and suits and actions filed 
under section 615 of that Act on or after the date of enactment of this 
Act.

A: Civil Asset Forfeiture Reform Act - Amends the Federal judicial code to exclude from the customs and tax exemption under tort claims procedures a claim based on the negligent destruction, injury, or loss of goods or merchandise (including real property) while in the possession of a customs or other law enforcement officer. 
Extends the period for filing claims in certain in rem proceedings. 
Amends the Tariff Act of 1930 to provide that:  (1) in all suits or actions brought for the forfeiture of any vessel, vehicle, aircraft, merchandise, or baggage seized under the provisions of any law relating to the collection of duties on imports or tonnage, with exceptions, and for the recovery of the value of any forfeited property because of violation of any such law, the burden of proof is on the Government to establish by clear and convincing evidence that the property was subject to forfeiture; (2) any person claiming such property may at any time within 60 days from the date of the first publication of the notice of seizure file a claim with the appropriate customs officer, who shall transmit such claim to the U.S. attorney for the district in which seizure was made; and (3) if the person filing such claim (or a claim regarding seized property under any other provision of law that incorporates by reference the seizure, forfeiture, and condemnation procedures of the customs laws) is financially unable to obtain representation, the court may appoint counsel, subject to specified requirements. 
Specifies that a claimant is entitled to immediate release of seized property if continued possession by the Government would cause the claimant substantial hardship.  Sets forth procedures regarding the request for release, return of property, and time for decision by the court on a complaint for such return. 
Makes sums in the Department of Justice Assets Forfeiture Fund available for the payment of court-awarded compensation for representation of claimants under the Tariff Act, with respect to seizure claims by individuals financially unable to obtain representation of counsel.
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Q: SECTION 1. REVISION OF TAX TREATMENT OF DERIVATIVE TRANSACTIONS ENTERED 
              INTO BY A CORPORATION WITH RESPECT TO ITS STOCK.

    (a) In General.--Section 1032 of the Internal Revenue Code of 1986 
(relating to exchange of stock for property) is amended to read as 
follows:

``SEC. 1032. TRANSACTIONS BY A CORPORATION WITH RESPECT TO ITS STOCK.

    ``(a) Nonrecognition of Gain or Loss.--No gain or loss shall be 
recognized to a corporation on the receipt of property (including 
money) or services in exchange for stock of such corporation.
    ``(b) Treatment of Derivative Transactions.--
            ``(1) Nonrecognition treatment.--
                    ``(A) In general.--Except as provided in paragraph 
                (2), section 1032 derivative items of a corporation 
                shall not be taken into account in determining such 
                corporation's liability for tax under this subtitle.
                    ``(B) Section 1032 derivative items.--For purposes 
                of subparagraph (A), the term `section 1032 derivative 
                item' means any item of income, gain, loss, or 
                deduction if--
                            ``(i) such item arises out of the rights or 
                        obligations under any option or forward or 
                        futures contract to the extent such option or 
                        contract relates to the corporation's stock (or 
                        is attributable to any transfer or 
                        extinguishment of any such right or 
                        obligation), or
                            ``(ii) such item arises under any other 
                        contract or position but only to the extent 
                        that such item reflects (or is determined by 
                        reference to) changes in the value of such 
                        stock or distributions thereon.
                Such term shall not include any deduction allowable 
                under section 83 or under section 163 and shall not 
                include any deduction for any item which is in the 
                nature of compensation for services rendered. For 
                purposes of this subparagraph, de minimis relationships 
                shall be disregarded.
            ``(2) Income recognition on certain forward contracts.--
                    ``(A) In general.--If--
                            ``(i) a corporation acquires its stock, and
                            ``(ii) such acquisition is part of a plan 
                        (or series of related transactions) pursuant to 
                        which the corporation enters into a forward 
                        contract with respect to its stock,
                such corporation shall include amounts in income as if 
                the excess of the amount to be received under the 
                forward contract over the fair market value of the 
                stock as of the date the corporation entered into the 
                forward contract were original issue discount on a debt 
                instrument acquired on such date. The preceding 
                sentence shall apply only to the extent that the amount 
                of stock involved in the forward contract does not 
                exceed the amount acquired as described in clause (i).
                    ``(B) Plan presumed to exist.--If a corporation 
                enters into a forward contract with respect to its 
                stock within the 60-day period beginning on the date 
                which is 30 days before the date that the corporation 
                acquires its stock, such acquisition shall be treated 
                as pursuant to a plan described in subparagraph (A)(ii) 
                unless it is established that entering into such 
                contract and such acquisition are not pursuant to a 
                plan or series of related transactions.
                    ``(C) Forward contract.--The term `forward 
                contract' has the meaning given to such term by section 
                1259(d)(1); except that such term shall include any 
                transactions or series of related transactions having 
                the same effect as a forward contract (as so defined).
    ``(c) Treasury Stock Treated as Stock.--Any reference in this 
section to stock shall be treated as including a reference to treasury 
stock.
    ``(d) Regulations.--The Secretary shall prescribe such regulations 
as may be appropriate to carry out the purposes of this section, 
including regulations which treat the portion of an instrument which is 
described in subsection (b) separately from the portion of such 
instrument which is not so described.
    ``(e) Basis.--For basis of property acquired by a corporation in 
certain exchanges for its stock, see section 362.''.
    (b) Clerical Amendment.--The item relating to section 1032 in the 
table of sections for part III of subchapter O of chapter 1 of such 
Code is amended to read as follows:

                              ``Sec. 1032. Transactions by a 
                                        corporation with respect to its 
                                        stock.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to transactions entered into after the date of the enactment of 
this Act.

A:
Amends the Internal Revenue Code to revise the tax treatment of derivative transactions entered into by a corporation with respect to its stock.Provides for nonrecognition of derivative gain, loss, or deduction items (as defined by this Act). Excepts certain forward contracts from such treatment.
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