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. FINDINGS.

    Congress makes the following findings:
            (1) Numerous studies by the Office of the Inspector General 
        of the Department of the Interior, the General Accounting 
        Office, and independent auditors have criticized the absence of 
        independent oversight or other forms of internal control over 
        the Department's management of Indian trust assets and trust 
        funds.
            (2) Indian and tribal account holders have indicated that 
        they will have little or no confidence in the reform of the 
        trust management system if the reform is carried out by the 
        same entities that are responsible for the management of the 
        system on the date of enactment of this Act.
            (3) It would constitute an inherent conflict of interest or 
        at least the appearance of a conflict of interest if the entity 
        establishing internal controls for a trust management system 
        were to be appointed, supervised, and subject to removal by the 
        entity that such internal controls are written for.
            (4) Account holder confidence will be improved if the same 
        official is not simultaneously responsible for the immediate 
        supervision of the fiduciary and financial reporting activities 
        of both the trust fund accounting system and the trust asset 
        and accounting management system.
            (5) To the extent practicable, the reform of activities and 
        creation of internal controls as described in the Department of 
        the Interior's Trust Management Improvement Project, High Level 
        Implementation Plan dated July 1998, and any amendments or 
        modifications to that plan, should be carried out by private 
        contractors.

SEC. 2. SPECIAL TRUSTEE FOR DATA CLEANUP AND INTERNAL CONTROL.

    The American Indian Trust Fund Management Reform Act of 1994 (25 
U.S.C. 4001 et seq.) is amended--
            (1) by redesignating title IV as title V;
            (2) by redesignating section 401 as section 501; and
            (3) by inserting after title III, the following:

                  ``TITLE IV--MISCELLANEOUS PROVISIONS

``SEC. 401. SPECIAL TRUSTEE FOR DATA CLEANUP AND INTERNAL CONTROL.

    ``(a) Establishment.--There is hereby established within the 
Department of Interior the Office of Special Trustee for Data Cleanup 
and Internal Control. The Office shall be headed by the Special Trustee 
for Data Cleanup and Internal Control (referred to in this section as 
the `Special Trustee') who shall report directly to the Secretary.
    ``(b) Special Trustee.--
            ``(1) Appointment.--The Special Trustee shall be appointed 
        by the Inspector General of the Department of the Interior from 
        among individuals who possess demonstrated ability in the--
                    ``(A) development and implementation of internal 
                controls;
                    ``(B) development and implementation of trust 
                management procedures; and
                    ``(C) conversion or rehabilitation of trust 
                management systems.
            ``(2) Compensation.--The Special Trustee shall be paid at a 
        rate determined by the Secretary to be appropriate for the 
        position, but not less than the basic pay payable at Level III 
        of the Executive Schedule under Section 5313 of Title 5.
            ``(3) Term of office.--The Special Trustee shall serve for 
        a term of 2 years and may only be removed for good cause by the 
        Secretary.
    ``(c) Duties.--
            ``(1) In general.--Notwithstanding title III, the Special 
        Trustee shall oversee the following subprojects as identified 
        in the Draft Trust Management Improvement Project Subproject 
        Task Updates, dated April 1999:
                    ``(A) Subproject #1, OST Data Cleanup.
                    ``(B) Subproject #5, Trust Funds Accounting System.
                    ``(C) Subproject #9, Policies and Procedures.
                    ``(D) Subproject #10, Training.
                    ``(E) Subproject #11, Internal Controls.
            ``(2) Oversight.--The Special Trustee shall oversee the 
        expenditure of funds appropriated by Congress for each of the 
        subprojects described in paragraph (1), including the approval 
        or modification of contracts, and make employment decisions for 
        each of the positions funded for each of such projects.
            ``(3) Contracting.--To the maximum extent practicable, the 
        Special Trustee shall ensure that activities are carried out 
        under this subsection through contracts entered into with 
        private entities or through the retention of the temporary 
        services of trust management specialists.
    ``(d) Modification of Implementation Plan.--To the extent that the 
activities to be carried out under subsection (c) are altered or 
amended as a result of any modification made after the date of 
enactment of this Act to the Department of the Interior's Trust 
Management Improvement Project, High Level Implementation Plan (dated 
July 1998), the Special Trustee shall continue to be responsible for 
overseeing such activities.''.

A: Requires that the Special Trustee ensure that activities are carried out under this Act through contracts entered into with private entities or through the retention of the temporary services of trust management specialists.
Declares that the Special Trustee shall continue to be responsible for overseeing such activities if they are altered or amended as a result of any modifications to the Department's Trust Management Improvement Project, High Level Implementation Plan (dated July 28, 1998).
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Q: SECTION 1. SHORT TITLE; AMENDMENT OF 1986 CODE.

    (a) Short Title.--This Act may be cited as the ``Long-Term 
Investment Incentive Act of 1997''.
    (b) Amendment of 1986 Code.--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 Internal Revenue Code of 1986.

SEC. 2. REDUCTION OF TAX ON LONG-TERM CAPITAL GAINS ON ASSETS HELD MORE 
              THAN 2 YEARS.

    (a) In General.--Part I of subchapter P of chapter 1 (relating to 
treatment of capital gains) is amended by redesignating section 1202 as 
section 1203 and by inserting after section 1201 the following new 
section:

``SEC. 1202. CAPITAL GAINS DEDUCTION FOR ASSETS HELD BY NONCORPORATE 
              TAXPAYERS MORE THAN 2 YEARS.

    ``(a) General Rule.--If a taxpayer other than a corporation has a 
net capital gain for any taxable year, there shall be allowed as a 
deduction an amount equal to the sum of the applicable percentages of 
the classes of net capital gain described in the table under subsection 
(b).
    ``(b) Applicable Percentage.--For purposes of this subsection, the 
applicable percentage shall be the percentage determined in accordance 
with the following table:

          
                                                         The applicable
          ``In the case of:
                                                         percentage is:
                  2-year gain........................        7.145     
                  3-year gain........................        14.29     
                  4-year gain........................        21.45     
                  5-year gain........................        28.57     
                  6-year gain........................        35.71     
                  7-year gain........................        42.86     
                  8-year gain........................        50.00.    
    ``(c) Gain to Which Deduction Applies.--For purposes of this 
section--
            ``(1) 2-year gain.--The term `2-year gain' means the lesser 
        of--
                    ``(A) the net capital gain for the taxable year, or
                    ``(B) the amount of long-term capital gain which 
                would be computed for the taxable year if only gain 
                from the sale or exchange of property held by the 
                taxpayer for more than 2 years but not more than 3 
                years were taken into account.
            ``(2) 3-year gain, etc.--The terms `3-, 4-,
        5-, 6-, or 7-year gain' mean the amounts determined under 
        paragraph (1)--
                    ``(A) by reducing the amount of the net capital 
                gain under subparagraph (A) thereof by an amount equal 
                to the long-term capital gain from the sale or exchange 
                of property with a holding period less than the minimum 
                holding period for any such category, and
                    ``(B) by substituting 3, 4, 5, 6, or 7 years for 2 
                years and 4, 5, 6, 7, or 8 years for 3 years, 
                respectively, in subparagraph (B) thereof.
            ``(3) 8-year gain.--The term `8-year gain' means the lesser 
        of--
                    ``(A) the net capital gain for the taxable year, 
                reduced by in the same manner as under paragraph 
                (2)(A), or
                    ``(B) the amount of the long-term capital gain 
                which would be computed for the taxable year if only 
                gain from the sale or exchange of property held by the 
                taxpayer for more than 8 years were taken into account.
    ``(d) Estates and Trusts.--In the case of an estate or trust, the 
deduction under subsection (a) shall be computed by excluding the 
portion (if any) of the gains for the taxable year from sales or 
exchanges of capital assets which, under sections 652 and 662 (relating 
to inclusions of amounts in gross income of beneficiaries of trusts), 
is includible by the income beneficiaries as gain derived from the sale 
or exchange of capital assets.
    ``(e) Coordination With Treatment of Capital Gain Under Limitation 
on Investment Interest.--For purposes of this section, the net capital 
gain for any taxable year shall be reduced (but not below zero) by the 
amount which the taxpayer takes into account as investment income under 
section 163(d)(4)(B)(iii).
    ``(f) Treatment of Collectibles.--
            ``(1) In general.--Solely for purposes of this section, any 
        gain or loss from the sale or exchange of a collectible shall 
be treated as a short-term capital gain or loss (as the case may be), 
without regard to the period such asset was held. The preceding 
sentence shall apply only to the extent the gain or loss is taken into 
account in computing taxable income.
            ``(2) Treatment of certain sales of interest in 
        partnership, etc.--For purposes of paragraph (1), any gain from 
        the sale or exchange of an interest in a partnership, S 
        corporation, or trust which is attributable to unrealized 
        appreciation in the value of collectibles held by such entity 
        shall be treated as gain from the sale or exchange of a 
        collectible. Rules similar to the rules of section 751(f) shall 
        apply for purposes of the preceding sentence.
            ``(3) Collectible.--For purposes of this subsection, the 
        term `collectible' means any capital asset which is a 
        collectible (as defined in section 408(m) without regard to 
        paragraph (3) thereof).
    ``(g) Transitional Rule.--
            ``(1) In general.--Gain may be taken into account under 
        subsection (c) only if such gain is properly taken into account 
        on or after May 7, 1997.
            ``(2) Special rules for pass-thru entities.--
                    ``(A) In general.--In applying paragraph (1) with 
                respect to any pass-thru entity, the determination of 
                when gains and losses are properly taken into account 
                shall be made at the entity level.
                    ``(B) Pass-thru entity defined.--For purposes of 
                subparagraph (A), the term `pass-thru entity' means--
                            ``(i) a regulated investment company,
                            ``(ii) a real estate investment trust,
                            ``(iii) an S corporation,
                            ``(iv) a partnership,
                            ``(v) an estate or trust, and
                            ``(vi) a common trust fund.''
    (b) Deduction Allowable in Computing Adjusted Gross Income.--
Subsection (a) of section 62 is amended by inserting after paragraph 
(16) the following new paragraph:
            ``(17) Long-term capital gains.--The deduction allowed by 
        section 1202.''
    (c) Maximum Capital Gains Rate.--Section 1(h) is amended by adding 
at the end the following new sentence: ``For purposes of this 
subsection, taxable income shall be computed without regard to the 
deduction allowed under section 1202.''
    (d) Treatment of Certain Pass-Thru Entities.--
            (1) Capital gain dividends of regulated investment 
        companies.--
                    (A) Subparagraph (B) of section 852(b)(3) is 
                amended to read as follows:
                    ``(B) Treatment of capital gain dividends by 
                shareholders.--A capital gain dividend shall be treated 
                by the shareholders as gain from the sale or exchange 
                of a capital asset held for more than 1 year but not 
                more than 2 years; except that the portion of any such 
                dividend designated by the company as allocable 2-, 3-, 
                4-, 5-, 6-, 7-, or 8-year gain of the company shall be 
                treated as gain from the sale or exchange of a capital 
                asset held for the amount of years in such class for 
                purposes of section 1202. Rules similar to the rules of 
                subparagraph (C) shall apply to any designation under 
                the preceding sentence.''
                    (B) Clause (i) of section 852(b)(3)(D) is amended 
                by adding at the end the following new sentence: 
                ``Rules similar to the rules of subparagraph (B) shall 
                apply in determining character of the amount to be so 
                included by any such shareholder.''
            (2) Capital gain dividends of real estate investment 
        trusts.--Subparagraph (B) of section 857(b)(3) is amended to 
        read as follows:
                    ``(B) Treatment of capital gain dividends by 
                shareholders.--A capital gain dividend shall be treated 
                by the shareholders or holders of beneficial interests 
                as gain from the sale or exchange of a capital asset 
                held for more than 1 year but not more than 2 years; 
                except that the portion of any such dividend designated 
                by the company as allocable to 2-, 3-, 4-, 5-, 6-, 7-, 
                or 8-year gain of the company shall be treated as gain 
                from the sale or exchange of a capital asset held for 
                the amount of years in such class for purposes of 
                section 1202. Rules similar to the rules of 
                subparagraph (C) shall apply to any designation under 
                the preceding sentence.''
            (3) Common trust funds.--Subsection (c) of section 584 is 
        amended--
                    (A) by inserting ``and not more than 2 years'' 
                after ``1 year'' each place it appears in paragraph 
                (2),
                    (B) by striking ``and'' at the end of paragraph 
                (2), and
                    (C) by redesignating paragraph (3) as paragraph (4) 
                and inserting after paragraph (2) the following new 
                paragraph:
            ``(3) as part of its gains from sales or exchanges of 
        capital assets held for periods described in the classes of 
        gains under section 1202(c), its proportionate share of the 
        gains of the common trust fund from sales or exchanges of 
        capital assets held for such periods, and''.
    (e) Technical and Conforming Changes.--
            (1) Subparagraph (B) of section 170(e)(1) is amended by 
        inserting ``(or, in the case of a taxpayer other than a 
        corporation, the percentage of such gain equal to 100 percent 
        minus the percentage applicable to such gain under section 
        1202(a))'' after ``the amount of gain''.
            (2) Subparagraph (B) of section 172(d)(2) is amended to 
        read as follows:
                    ``(B) the deduction under section 1202 and the 
                exclusion under section 1203 shall not be allowed.''
            (3)(A) Section 221 (relating to cross reference) is amended 
        to read as follows:

``SEC. 221. CROSS REFERENCES.

    ``(1) For deduction for net capital gains in the case of a taxpayer 
other than a corporation, see section 1202.
    ``(2) For deductions in respect of a decedent, see section 691.''
            (B) The table of sections for part VII of subchapter B of 
        chapter 1 is amended by striking ``reference'' in the item 
        relating to section 221 and inserting ``references''.
            (4) The last sentence of section 453A(c)(3) is amended by 
        striking all that follows ``long-term capital gain,'' and 
        inserting ``the maximum rate on net capital gain under section 
        1(h) or 1201 or the deduction under section 1202 (whichever is 
        appropriate) shall be taken into account.''
            (5) Paragraph (4) of section 642(c) is amended to read as 
        follows:
            ``(4) Adjustments.--To the extent that the amount otherwise 
        allowable as a deduction under this subsection consists of gain 
        from the sale or exchange of capital assets held for more than 
        1 year, proper adjustment shall be made for any deduction 
        allowable to the estate or trust under section 1202 or any 
        exclusion allowable to the estate or trust under section 
        1203(a). In the case of a trust, the deduction allowed by this 
        subsection shall be subject to section 681 (relating to 
        unrelated business income).''
            (6) The last sentence of paragraph (3) of section 643(a) is 
        amended to read as follows: ``The deduction under section 1202 
        and the exclusion under section 1203 shall not be taken into 
        account.''
            (7) Subparagraph (C) of section 643(a)(6) is amended by 
        inserting ``(i)'' before ``there shall'' and by inserting 
        before the period ``, and (ii) the deduction under section 1202 
        (relating to capital gains deduction) shall not be taken into 
        account''.
            (8) Paragraph (4) of section 691(c) is amended by striking 
        ``sections 1(h), 1201, and 1211'' and inserting ``sections 
        1(h), 1201, 1202, and 1211''.
            (9) The second sentence of section 871(a)(2) is amended by 
        inserting ``or 1203'' after ``1202''.
            (10) Subsection (d) of section 1044 is amended by striking 
        ``1202'' and inserting ``1203''.
            (11) Paragraph (1) of section 1402(i) is amended by 
        inserting ``, and the deduction provided by section 1202 shall 
        not apply'' before the period at the end thereof.
    (f) Clerical Amendment.--The table of sections for part I of 
subchapter P of chapter 1 is amended by inserting after the item 
relating to section 1201 the following new item:

                              ``Sec. 1202. Capital gains deduction for 
                                        assets held by noncorporate 
                                        taxpayers more than 2 years.''
    (g) Effective Date.--
            (1) In general.--Except as otherwise provided in this 
        subsection, the amendments made by this section shall apply to 
        taxable years ending on and after May 7, 1997.
            (2) Contributions.--The amendment made by subsection (e)(1) 
        shall apply to contributions on or after May 7, 1997.

A: Long-Term Investment Incentive Act of 1997 - Amends the Internal Revenue Code to establish a sliding scale capital gains deduction on assets held between two years and eight years by noncorporate taxpayers.
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Q: SECTION 1. CONGRESSIONAL FINDINGS.

    The Congress finds that--
            (1) the Martin Luther King, Junior, Historic Site and 
        Preservation District is one of the most significant places in 
        the country dedicated to African-American history;
            (2) the Martin Luther King, Junior, Historic Site and 
        Preservation District receives the largest number of visitors 
        compared to any other historic site in the State of Georgia and 
        is the 3rd most visited historic site in the National Park 
        Service in the country;
            (3) the lack of a comprehensive, international context 
        within which to interpret African-American history and culture 
        impedes the ability of all Americans, particularly African-
        Americans, to understand themselves and their relationship to 
        America's past and its future;
            (4) African-American history is complex and requires the 
        integration of diverse experiences of African-Americans ranging 
        from slavery and freedom--to cultural, scientific and athletic 
        endeavors, through the continued struggles for full 
        participation in our society--to reinforce the positive self-
        image of African-Americans and to develop pride in their past 
        and hope for their future;
            (5) the expansion of a national museum on African-American 
        history and culture, which will include a wide array of 
        collections from an eclectic group of African-Americans, will 
        help all Americans, and those who visit our country from 
        abroad, better understand and appreciate the significant 
        contributions made by African-Americans to American as well as 
        world history;
            (6) the African-American Panoramic Experience Museum is 
        located in Atlanta, Georgia, at the gateway to and part of the 
        Martin Luther King, Junior, Historic Site and Preservation 
        District. The APEX houses its own African-American Collection 
        and is the site of exhibitions on African-American art and 
        culture;
            (7) the Atlanta Fulton County African American Research 
        Library, under construction adjacent to The APEX, is designated 
        by Fulton County to serve as the primary location in the 
        Atlanta region for conducting research related to African-
        American studies and for fostering academic research 
        initiatives on African-American history and culture.

SEC. 2. REHABILITATION AND EXPANSION OF THE APEX (AFRICAN AMERICAN 
              PANORAMIC EXPERIENCE) CENTER.

    (a) Rehabilitation.--The Secretary is authorized to make a grant to 
the Collections of Life and Heritage, Inc., a nonprofit corporation of 
The APEX, to rehabilitate their present facility, The APEX, in order to 
``complement and enhance the District (the Martin Luther King, Junior, 
Historic Site and Preservation District) and the purposes for which the 
District is established (Public Law 96-428; 94 Stat. 1842; Sec. 
4(c)(3)). The APEX is located in Atlanta, Georgia, at 135 Auburn 
Avenue, N.E., the gateway to the Martin Luther King, Junior, Historic 
Site and Preservation District.
    (b) Expansion.--To enhance the presentation and preservation of the 
significant contributions of African-Americans to the history and 
culture of America, the Secretary shall make a grant to the Collections 
of Life and Heritage, Inc., a nonprofit corporation of The Apex, to 
expand their present facility.
    (c) Requirements for Grant.--A grant may not be made under 
subsection (a) unless an application is made to the Secretary at such 
time and in such manner as the Secretary may require. The application 
shall include provisions designed to ensure that--
            (1) the first floor of the expanded facility (The APEX II) 
        can serve as a visitors center for the Martin Luther King, 
        Junior, Historic Site and Preservation District and the 
        surrounding National Park Service parks, to provide an 
        orientation to the sites, activities, and services created to 
        enhance their educational experience; and
            (2) the facility will serve as an international center to 
        showcase the historical, intellectual, cultural, artistic, 
        scientific, and athletic achievements of African-Americans 
        through galleries, exhibitions, multivideo presentations and an 
        archive collection filled with artifacts and memorabilia that 
        reflect African and African-American life.

SEC. 3. DEFINITIONS.

    As used in this Act--
            (1) the term ``APEX'' means the African American Panoramic 
        Experience Museum located in Atlanta, Georgia;
            (2) the term ``Center'' means The African American 
        Panoramic Experience (APEX) Center; and
            (3) the term ``Secretary'' means the Secretary of the 
        Interior.

SEC. 4. AUTHORIZATION OF APPROPRIATIONS.

    (a) Amount.--There are authorized to be appropriated $12,500,000 to 
the Secretary for fiscal year 1994 to rehabilitate and expand The APEX.
    (b) Availability of Funds.--Funds appropriated pursuant to the 
authority of subsection (a) shall remain available until expended.

A:
Authorizes the Secretary of the Interior to make grants to the Collections of Life and Heritage, Inc., a nonprofit corporation of the African-American Panoramic Experience Museum in Atlanta, Georgia, to rehabilitate and expand their present facility. 
Authorizes appropriations.
****