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

Example Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``End-User Protection Act of 2014''.

SEC. 2. DEFINITIONS.

    (a) In General.--Section 1a of the Commodity Exchange Act (7 U.S.C. 
1a) is amended--
            (1) by redesignating paragraphs (8) through (51) as 
        paragraphs (9) through (52), respectively;
            (2) by inserting after paragraph (7) the following:
            ``(8) Commercial market participant.--The term `commercial 
        market participant' means any producer, processor, merchant, or 
        commercial user of an exempt or agricultural commodity, or the 
        products or by-products of an exempt or agricultural 
        commodity.'';
            (3) in subparagraph (B) of paragraph (48) (as so 
        redesignated), by striking clause (ii) and inserting the 
        following:
                            ``(ii) any purchase or sale of a 
                        nonfinancial commodity or security for deferred 
                        shipment or delivery, so long as the 
                        transaction is intended to be physically 
                        settled, including any stand-alone or embedded 
                        option for which exercise would result in a 
                        physical delivery obligation;''; and
            (4) in paragraph (50) (as redesignated by paragraph (1)), 
        by striking subparagraph (D) and inserting the following:
                    ``(D) De minimis exception.--
                            ``(i) In general.--The Commission shall 
                        exempt from designation as a swap dealer an 
                        entity that engages in a de minimis quantity of 
                        swap dealing (which shall not be less than 
                        $8,000,000,000) in connection with transactions 
                        with or on behalf of its customers.
                            ``(ii) Regulations.--The Commission shall 
                        promulgate regulations to establish the factors 
                        to be used in a determination under clause (i) 
                        to exempt, including any monetary or other 
                        levels established by the Commission, and those 
                        levels shall only be amended or changed through 
                        an affirmative action of the Commission 
                        undertaken by rule or regulation.''.
    (b) Financial Entity.--Section 2(h)(7)(C) of the Commodity Exchange 
Act (7 U.S.C. 2(h)(7)(C)) is amended--
            (1) in clause (iii)--
                    (A) by striking ``an entity whose'' and inserting 
                the following: ``an entity--
                                    ``(I) whose'';
                    (B) by striking the period at the end and inserting 
                a semicolon; and
                    (C) by adding at the end the following:
                                    ``(II) that is--
                                            ``(aa) a commercial market 
                                        participant;
                                            ``(bb) included in clause 
                                        (i)(VIII); and
                                            ``(cc) not supervised by a 
                                        prudential regulator; or
                                    ``(III) that is included in clause 
                                (i)(VIII) because--
                                            ``(aa) the entity regularly 
                                        enters into foreign exchange or 
                                        derivatives transactions on 
                                        behalf of, or to hedge or 
                                        mitigate, whether directly or 
                                        indirectly, the commercial risk 
                                        of 1 or more entities within 
                                        the same commercial enterprise 
                                        as the entity; or
                                            ``(bb) of the making of 
                                        loans to 1 or more entities 
                                        within the same commercial 
                                        enterprise as the entity.''; 
                                        and
            (2) by adding at the end the following:
                            ``(iv) Same commercial enterprise.--For 
                        purposes of clause (iii)(III), an entity shall 
                        be considered to be within the same commercial 
                        enterprise as another entity if--
                                    ``(I) 1 of the entities owns, 
                                directly or indirectly, at least a 
                                majority ownership interest in the 
                                other entity and reports its financial 
                                statements on a consolidated basis and 
                                the consolidated financial statements 
                                include the financial results of both 
                                entities; or
                                    ``(II) a third party owns at least 
                                a majority ownership interest in both 
                                entities and reports its financial 
                                statements on a consolidated basis and 
                                the financial statements of the third 
                                party include the financial results of 
                                both entities.
                            ``(v) Predominantly engaged.--
                                    ``(I) In general.--Not later than 
                                90 days after the date of enactment of 
                                this clause, the Commission shall 
                                promulgate regulations defining the 
                                term `predominantly engaged' for 
                                purposes of clause (i)(VIII).
                                    ``(II) Minimum revenues.--The 
                                regulations shall provide that an 
                                entity shall not be considered to be 
                                predominantly engaged in activities 
                                that are in the business of banking or 
                                financial in nature if the consolidated 
                                revenues of the entity derived from the 
                                activities constitute less than a 
                                percentage (as specified by the 
                                Commission in the regulations) of the 
                                total consolidated revenues of the 
                                entity.
                                    ``(III) Revenues from banking or 
                                financial activities.--In determining 
                                the percentage of the revenues of an 
                                entity that are derived from activities 
                                that are in the business of banking or 
                                financial in nature, the regulations 
                                shall exclude all revenues that are or 
                                result from foreign exchange or 
                                derivatives transactions used to hedge 
                                or mitigate commercial risk (as defined 
                                by the Commission in the 
                                regulations).''.

SEC. 3. REPORTING OF ILLIQUID SWAPS SO AS TO NOT DISADVANTAGE CERTAIN 
              NON-FINANCIAL END USERS.

    Section 2(a)(13) of the Commodity Exchange Act (7 U.S.C. 2(a)(13)) 
is amended--
            (1) in subparagraph (C), by striking ``The Commission'' and 
        inserting ``Except as provided in subparagraph (D), the 
        Commission'';
            (2) by redesignating subparagraphs (D) through (G) as 
        subparagraphs (E) through (H), respectively; and
            (3) by inserting after subparagraph (C) the following:
                    ``(D) Requirements for swap transactions in 
                illiquid markets.--
                            ``(i) Definition of illiquid markets.--In 
                        this subparagraph, the term `illiquid markets' 
                        means any market in which the volume and 
                        frequency of trading in swaps is at such a 
                        level as to allow identification of individual 
                        market participants.
                            ``(ii) Requirements.--Notwithstanding 
                        subparagraph (C), the Commission shall--
                                    ``(I) provide by rule for the 
                                public reporting of swap transactions, 
                                including price and volume data, in 
                                illiquid markets that are not cleared 
                                and entered into by a nonfinancial 
                                entity that is hedging or mitigating 
                                commercial risk in accordance with 
                                subsection (h)(7)(A); and
                                    ``(II) ensure that the swap 
                                transaction information described in 
                                subclause (I) is available to the 
                                public not sooner than 30 days after 
                                the swap transaction has been executed 
                                or at such later date as the Commission 
                                determines appropriate to protect the 
                                identity of participants and positions 
                                in illiquid markets and to prevent the 
                                elimination or reduction of market 
                                liquidity.''.

SEC. 4. TREATMENT OF AFFILIATES.

    Section 2(h)(7)(D)(i) of the Commodity Exchange Act (7 U.S.C. 
2(h)(7)(D)(i)) is amended--
            (1) by striking ``An affiliate'' and inserting ``A person 
        that is a financial entity and is an affiliate'';
            (2) by striking ``(including affiliate entities 
        predominantly engaged in providing financing for the purchase 
        of the merchandise or manufactured goods of the person)''; and
            (3) by striking ``and as an agent''.

SEC. 5. APPLICABILITY TO BONA FIDE HEDGE TRANSACTIONS OR POSITIONS.

    Section 4a(c) of the Commodity Exchange Act (7 U.S.C. 6a(c)) is 
amended--
            (1) in the second sentence of paragraph (1), by striking 
        ``into the future for which'' and inserting ``in the future, to 
        be determined by the Commission, for which either an 
        appropriate swap is available or''; and
            (2) in paragraph (2)--
                    (A) in the matter preceding subparagraph (A), by 
                striking ``subsection (a)(2)'' and all that follows 
                through ``position that--'' and inserting ``paragraphs 
                (2) and (5) of subsection (a) for swaps, contracts of 
                sale for future delivery, or options on the contracts 
                or commodities, a bona fide hedging transaction or 
                position is a transaction or position that--''; and
                    (B) in subparagraph (A)(ii), by striking ``of 
                risks'' and inserting ``or management of current or 
                anticipated risks''; and
            (3) by adding at the end the following:
            ``(3) Commission definition.--The Commission may further 
        define, by rule or regulation, what constitutes a bona fide 
        hedging transaction or position so long as the rule or 
        regulation is consistent with the requirements of subparagraphs 
        (A) and (B) of paragraph (2).''.

SEC. 6. REPORTING AND RECORDKEEPING.

    Section 4g(f) of the Commodity Exchange Act (7 U.S.C. 6g(f)) is 
amended--
            (1) by striking ``(f) Nothing contained in this section'' 
        and inserting the following:
    ``(f) Authority of Commission To Make Separate Determinations 
Unimpaired.--
            ``(1) In general.--Except as provided in paragraph (2), 
        nothing in this section''; and
            (2) by adding at the end the following:
            ``(2) Exception.--If the Commission imposes any requirement 
        under this section on any person that is not registered, or 
        required to be registered, with the Commission in any capacity, 
        that person shall satisfy the requirements of any rule, order, 
        or regulation under this section by maintaining a written 
        record of each cash or forward transaction related to a 
        reportable or hedging commodity interest transaction, futures 
        contract, option on a futures contract, or swap.
            ``(3) Sufficiency.--A written record described in paragraph 
        (2) shall be sufficient if the written record--
                    ``(A) memorializes the final agreement between the 
                parties, including the material economic terms of the 
                transaction; and
                    ``(B) is identifiable and searchable by 
                transaction.''.

SEC. 7. MARGIN REQUIREMENTS.

    (a) Commodity Exchange Act Amendment.--Section 4s(e) of the 
Commodity Exchange Act (7 U.S.C. 6s(e)) is amended by adding at the end 
the following:
            ``(4) Applicability with respect to counterparties.--The 
        requirements of paragraphs (2)(A)(ii) and (2)(B)(ii), including 
        the initial and variation margin requirements imposed by rules 
        adopted pursuant to paragraphs (2)(A)(ii) and (2)(B)(ii), shall 
        not apply to a swap in which a counterparty qualifies for an 
        exception under section 2(h)(7)(A) or 2(h)(7)(D), or an 
        exemption issued under section 4(c)(1) from the requirements of 
        section 2(h)(1)(A) for cooperative entities as defined in that 
        exemption.''.
    (b) Securities Exchange Act Amendment.--Section 15F(e) of the 
Securities Exchange Act of 1934 (15 U.S.C. 78o-10(e)) is amended by 
adding at the end the following:
            ``(4) Applicability with respect to counterparties.--The 
        requirements of paragraphs (2)(A)(ii) and (2)(B)(ii) shall not 
        apply to a security-based swap in which a counterparty 
        qualifies for an exception under section 3C(g)(1) or satisfies 
        the criteria in section 3C(g)(4).''.
    (c) Implementation.--The amendments made by this section to the 
Commodity Exchange Act (7 U.S.C. 1 et seq.) shall be implemented--
            (1) without regard to--
                    (A) chapter 35 of title 44, United States Code; and
                    (B) the notice and comment provisions of section 
                553 of title 5, United States Code;
            (2) through the promulgation of an interim final rule, 
        pursuant to which public comment is sought before a final rule 
        is issued; and
            (3) such that paragraph (1) shall apply solely to changes 
        to rules and regulations, or proposed rules and regulations, 
        that are limited to and directly a consequence of the 
        amendments.

SEC. 8. ANALYSIS BY THE COMMODITY FUTURES TRADING COMMISSION OF THE 
              COSTS AND BENEFITS OF REGULATIONS AND ORDERS.

    Section 15(a) of the Commodity Exchange Act (7 U.S.C. 19(a)) is 
amended by striking paragraphs (1) and (2) and inserting the following:
            ``(1) In general.--Before promulgating a regulation under 
        this Act or issuing an order (except as provided in paragraph 
        (3)), the Commission, acting through the Office of the Chief 
        Economist, shall--
                    ``(A) state a justification for the regulation or 
                order;
                    ``(B) state the baseline for the cost-benefit 
                analysis and explain how the regulation or order 
                measures costs against the baseline;
                    ``(C) assess the costs and benefits, both 
                qualitative and quantitative, of the intended 
                regulation or order;
                    ``(D) measure, and seek to improve, the actual 
                results of regulatory requirements; and
                    ``(E) propose or adopt a regulation or order only 
                on a reasoned determination that the benefits of the 
                intended regulation or order justify the costs of the 
                intended regulation or order (recognizing that some 
                benefits and costs are difficult to quantify).
            ``(2) Considerations.--In making a reasoned determination 
        of costs and benefits under paragraph (1), the Commission shall 
        consider--
                    ``(A) the protection of market participants and the 
                public;
                    ``(B) the efficiency, competitiveness, and 
                financial integrity of futures and swaps markets;
                    ``(C) the impact on market liquidity in the futures 
                and swaps markets;
                    ``(D) price discovery;
                    ``(E) sound risk management practices;
                    ``(F) the cost of available alternatives to direct 
                regulation;
                    ``(G) the degree and nature of the risks posed by 
                various activities within the scope of the jurisdiction 
                of the Commission;
                    ``(H) whether, consistent with obtaining regulatory 
                objectives, the regulation or order is tailored to 
                impose the least burden on society, including market 
                participants, individuals, businesses of differing 
                sizes, and other entities (including small communities 
                and governmental entities), taking into account, to the 
                extent practicable, the cumulative costs of regulations 
                and orders;
                    ``(I) whether the regulation or order is 
                inconsistent, incompatible, or duplicative of other 
                Federal regulations and orders; and
                    ``(J) whether, in choosing among alternative 
                regulatory approaches, those approaches maximize net 
                benefits (including potential economic, environmental, 
                and other benefits, distributive impacts, and 
                equity).''.
Example Output: End-User Protection Act of 2014 - Amends the Commodity Exchange Act with respect to exceptions to the requirement that any swap be cleared by a derivatives clearing organization either registered under that Act, or exempted from registration, if the swap is required to be cleared. Revises the definition of a financial entity subject to such requirement to exclude one that: (1) is a commercial market participant predominantly engaged in activities in the business of banking, or in activities that are financial in nature, but is not supervised by a prudential regulator; or (2) is considered as predominantly engaged in activities in the business of banking or in financial activities because it regularly enters into foreign exchange or derivatives transactions on behalf of, or to hedge or mitigate the commercial risk of, one or more other entities within the entity's same commercial enterprise, or because of making loans to one or more of such other entities. Directs the Commodity Futures Trading Commission (CFTC) to provide by rule for the public reporting of swap transactions, including price and volume data, in illiquid markets that are not cleared and entered into by a nonfinancial entity that is hedging or mitigating commercial risk. Defines &quot;illiquid&quot; as any market in which the volume and frequency of trading in swaps is at such a level as to allow identification of individual market participants. Requires the CFTC to ensure that such swap transaction information is not available to the public until 30 days after the transaction has been executed, or at an appropriate later date, in order to: (1) protect the identity of participants and positions in illiquid markets, and (2) prevent the elimination or reduction of market liquidity. Accords financial entities exempt from swap-clearing requirements the same treatment as exempted affiliates. Revises the exemption of bona fide hedge transactions or positions from certain trading limitations to set criteria for CFTC rules or regulations treating swaps, contracts of sale for future delivery, or options on the contracts or commodities as bona fide hedge transactions or positions also exempt from those limitations. Declares that, if the CFTC imposes any reporting and recordkeeping requirement on any person that is not registered, or required to be registered, with the CFTC, that person shall satisfy the requirements of any pertinent rule, order, or regulation by maintaining a written record of each cash or forward transaction related to a reportable or hedging commodity interest transaction, futures contract, option on a futures contract, or swap. Makes such a written record sufficient if it: (1) memorializes the final agreement between the parties, including the transaction's material economic terms; and (2) is identifiable and searchable by transaction. States that certain requirements for adoption of rules governing capital and margin requirements for swap dealers and major swap participants, including the initial and variation margin requirements imposed by rules adopted according to such requirements, shall not apply to a swap in which a counterparty qualifies for specified exceptions or exemptions. Revises requirements for a CFTC cost-benefit analysis made before an order is issued. Requires the CFTC, acting through the Office of the Chief Economist, among other things to:  state a justification for the regulation or order; state the baseline for the cost-benefit analysis and explain how the regulation or order measures costs against the baseline; assess the costs and benefits, both qualitative and quantitative, of the intended regulation or order; measure, and seek to improve, the actual results of regulatory requirements; and propose or adopt a regulation or order only on a reasoned determination that the benefits of the intended regulation or order justify its costs. 

Example Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Paycheck Fairness Act''.

SEC. 2. FINDINGS.

    Congress makes the following findings:
            (1) Women have entered the workforce in record numbers.
            (2) Even in the 1990's, women earn significantly lower pay 
        than men for work on jobs that require equal skill, effort, and 
        responsibility and that are performed under similar working 
        conditions. These pay disparities exist in both the private and 
        governmental sectors. In many instances, the pay disparities 
        can only be due to continued intentional discrimination or the 
        lingering effects of past discrimination.
            (3) The existence of such pay disparities--
                    (A) depresses the wages of working families who 
                rely on the wages of all members of the family to make 
                ends meet;
                    (B) prevents the optimum utilization of available 
                labor resources;
                    (C) has been spread and perpetuated, through 
                commerce and the channels and instrumentalities of 
                commerce, among the workers of the several States;
                    (D) burdens commerce and the free flow of goods in 
                commerce;
                    (E) constitutes an unfair method of competition in 
                commerce;
                    (F) leads to labor disputes burdening and 
                obstructing commerce and the free flow of goods in 
                commerce;
                    (G) interferes with the orderly and fair marketing 
                of goods in commerce; and
                    (H) in many instances, may deprive workers of equal 
                protection on the basis of sex in violation of the 5th 
                and 14th amendments.
            (4)(A) Artificial barriers to the elimination of 
        discrimination in the payment of wages on the basis of sex 
        continue to exist more than 3 decades after the enactment of 
        the Fair Labor Standards Act of 1938 (29 U.S.C. 201 et seq.) 
        and the Civil Rights Act of 1964 (42 U.S.C. 2000a et seq.).
            (B) Elimination of such barriers would have positive 
        effects, including--
                    (i) providing a solution to problems in the economy 
                created by unfair pay disparities;
                    (ii) substantially reducing the number of working 
                women earning unfairly low wages, thereby reducing the 
                dependence on public assistance; and
                    (iii) promoting stable families by enabling all 
                family members to earn a fair rate of pay;
                    (iv) remedying the effects of past discrimination 
                on the basis of sex and ensuring that in the future 
                workers are afforded equal protection on the basis of 
                sex; and
                    (v) ensuring equal protection pursuant to Congress' 
                power to enforce the 5th and 14th amendments.
            (5) With increased information about the provisions added 
        by the Equal Pay Act of 1963 and wage data, along with more 
        effective remedies, women will be better able to recognize and 
        enforce their rights to equal pay for work on jobs that require 
        equal skill, effort, and responsibility and that are performed 
        under similar working conditions.
            (6) Certain employers have already made great strides in 
        eradicating unfair pay disparities in the workplace and their 
        achievements should be recognized.

SEC. 3. ENHANCED ENFORCEMENT OF EQUAL PAY REQUIREMENTS.

    (a) Required Demonstration for Affirmative Defense.--Section 
6(d)(1) of the Fair Labor Standards Act of 1938 (29 U.S.C. 206(d)(1)) 
is amended by striking ``(iv) a differential'' and all that follows 
through the period and inserting the following: ``(iv) a differential 
based on a bona fide factor other than sex, such as education, training 
or experience, except that this clause shall apply only if--
                            ``(I) the employer demonstrates that--
                                    ``(aa) such factor--
                                            ``(AA) is job-related with 
                                        respect to the position in 
                                        question; or
                                            ``(BB) furthers a 
                                        legitimate business purpose, 
                                        except that this item shall not 
                                        apply where the employee 
                                        demonstrates that an 
                                        alternative employment practice 
                                        exists that would serve the 
                                        same business purpose without 
                                        producing such differential and 
                                        that the employer has refused 
                                        to adopt such alternative 
                                        practice; and
                                    ``(bb) such factor was actually 
                                applied and used reasonably in light of 
                                the asserted justification; and
                            ``(II) upon the employer succeeding under 
                        subclause I, the employee fails to demonstrate 
                        that the differential produced by the reliance 
                        of the employer on such factor is itself the 
                        result of discrimination on the basis of sex by 
                        the employer.
        ``An employer that is not otherwise in compliance with this 
        paragraph may not reduce the wages of any employee in order to 
        achieve such compliance.''.
    (b) Application of Provisions.--Section 6(d)(1) of the Fair Labor 
Standards Act of 1938 (29 U.S.C. 206(d)(1)) is amended by adding at the 
end the following: ``The provisions of this subsection shall apply to 
applicants for employment if such applicants, upon employment by the 
employer, would be subject to any provisions of this section.''.
    (c) Elimination of Establishment Requirement.--Section 6(d) of the 
Fair Labor Standards Act of 1938 (29 U.S.C. 206(d)) is amended--
            (1) by striking ``, within any establishment in which such 
        employees are employed,''; and
            (2) by striking ``in such establishment'' each place it 
        appears.
    (d) Nonretaliation Provision.--Section 15(a)(3) of the Fair Labor 
Standards Act of 1938 (29 U.S.C. 215(a)(3)) is amended--
            (1) by striking ``or has'' each place it appears and 
        inserting ``has''; and
            (2) by inserting before the semicolon the following: ``, or 
        has inquired about, discussed, or otherwise disclosed the wages 
        of the employee or another employee, or because the employee 
        (or applicant) has made a charge, testified, assisted, or 
        participated in any manner in an investigation, proceeding, 
        hearing, or action under section 6(d)''.
    (e) Enhanced Penalties.--Section 16(b) of the Fair Labor Standards 
Act of 1938 (29 U.S.C. 216(b)) is amended--
            (1) by inserting after the first sentence the following: 
        ``Any employer who violates section 6(d) shall additionally be 
        liable for such compensatory or punitive damages as may be 
        appropriate, except that the United States shall not be liable 
        for punitive damages.'';
            (2) in the sentence beginning ``An action to'', by striking 
        ``either of the preceding sentences'' and inserting ``any of 
        the preceding sentences of this subsection'';
            (3) in the sentence beginning ``No employees shall'', by 
        striking ``No employees'' and inserting ``Except with respect 
        to class actions brought to enforce section 6(d), no 
        employee'';
            (4) by inserting after the sentence referred to in 
        paragraph (3), the following: ``Notwithstanding any other 
        provision of Federal law, any action brought to enforce section 
        6(d) may be maintained as a class action as provided by the 
        Federal Rules of Civil Procedure.''; and
            (5) in the sentence beginning ``The court in''--
                    (A) by striking ``in such action'' and inserting 
                ``in any action brought to recover the liability 
                prescribed in any of the preceding sentences of this 
                subsection''; and
                    (B) by inserting before the period the following: 
                ``, including expert fees''.
    (f) Action by Secretary.--Section 16(c) of the Fair Labor Standards 
Act of 1938 (29 U.S.C. 216(c)) is amended--
            (1) in the first sentence--
                    (A) by inserting ``or, in the case of a violation 
                of section 6(d), additional compensatory or punitive 
                damages,'' before ``and the agreement''; and
                    (B) by inserting before the period the following: 
                ``, or such compensatory or punitive damages, as 
                appropriate'';
            (2) in the second sentence, by inserting before the period 
        the following: ``and, in the case of a violation of section 
        6(d), additional compensatory or punitive damages'';
            (3) in the third sentence, by striking ``the first 
        sentence'' and inserting ``the first or second sentence''; and
            (4) in the last sentence--
                    (A) by striking ``commenced in the case'' and 
                inserting ``commenced--
            ``(1) in the case'';
                    (B) by striking the period and inserting 
                ``; or''; and
                    (C) by adding at the end the following:
            ``(2) in the case of a class action brought to enforce 
        section 6(d), on the date on which the individual becomes a 
        party plaintiff to the class action''.

SEC. 4. TRAINING.

    The Equal Employment Opportunity Commission and the Office of 
Federal Contract Compliance Programs, subject to the availability of 
funds appropriated under section 9(b), shall provide training to 
Commission employees and affected individuals and entities on matters 
involving discrimination in the payment of wages.

SEC. 5. RESEARCH, EDUCATION, AND OUTREACH.

    The Secretary of Labor shall conduct studies and provide 
information to employers, labor organizations, and the general public 
concerning the means available to eliminate pay disparities between men 
and women, including--
            (1) conducting and promoting research to develop the means 
        to correct expeditiously the conditions leading to the pay 
        disparities;
            (2) publishing and otherwise making available to employers, 
        labor organizations, professional associations, educational 
        institutions, the media, and the general public the findings 
resulting from studies and other materials, relating to eliminating the 
pay disparities;
            (3) sponsoring and assisting State and community 
        informational and educational programs;
            (4) providing information to employers, labor 
        organizations, professional associations, and other interested 
        persons on the means of eliminating the pay disparities;
            (5) recognizing and promoting the achievements of 
        employers, labor organizations, and professional associations 
        that have worked to eliminate the pay disparities; and
            (6) convening a national summit to discuss, and consider 
        approaches for rectifying, the pay disparities.

SEC. 6. TECHNICAL ASSISTANCE AND EMPLOYER RECOGNITION PROGRAM.

    (a) Guidelines.--
            (1) In general.--The Secretary of Labor shall develop 
        guidelines to enable employers to evaluate job categories based 
        on objective criteria such as educational requirements, skill 
requirements, independence, working conditions, and responsibility, 
including decisionmaking responsibility and de facto supervisory 
responsibility.
            (2) Use.--The guidelines developed under paragraph (1) 
        shall be designed to enable employers voluntarily to compare 
        wages paid for different jobs to determine if the pay scales 
        involved adequately and fairly reflect the educational 
        requirements, skill requirements, independence, working 
        conditions, and responsibility for each such job with the goal 
        of eliminating unfair pay disparities between occupations 
        traditionally dominated by men or women.
            (3) Publication.--The guidelines shall be developed under 
        paragraph (1) and published in the Federal Register not later 
        than 180 days after the date of enactment of this Act.
    (b) Employer Recognition.--
            (1) Purpose.--It is the purpose of this subsection to 
        emphasize the importance of, encourage the improvement of, and 
        recognize the excellence of employer efforts to pay wages to 
        women that reflect the real value of the contributions of such 
        women to the workplace.
            (2) In general.--To carry out the purpose of this 
        subsection, the Secretary of Labor shall establish a program 
        under which the Secretary shall provide for the recognition of 
        employers who, pursuant to a voluntary job evaluation conducted 
        by the employer, adjust their wage scales (such adjustments 
        shall not include the lowering of wages paid to men) using the 
        guidelines developed under subsection (a) to ensure that women 
        are paid fairly in comparison to men.
            (3) Technical assistance.--The Secretary of Labor may 
        provide technical assistance to assist an employer in carrying 
        out an evaluation under paragraph (2).
    (c) Regulations.--The Secretary of Labor shall promulgate such 
rules and regulations as may be necessary to carry out this section.

SEC. 7. ESTABLISHMENT OF THE NATIONAL AWARD FOR PAY EQUITY IN THE 
              WORKPLACE.

    (a) In General.--There is established the Robert Reich National 
Award for Pay Equity in the Workplace, which shall be evidenced by a 
medal bearing the inscription ``Robert Reich National Award for Pay 
Equity in the Workplace''. The medal shall be of such design and 
materials, and bear such additional inscriptions, as the Secretary of 
Labor may prescribe.
    (b) Criteria for Qualification.--To qualify to receive an award 
under this section a business shall--
            (1) submit a written application to the Secretary of Labor, 
        at such time, in such manner, and containing such information 
        as the Secretary may require, including at a minimum 
        information that demonstrates that the business has made 
        substantial effort to eliminate pay disparities between men and 
        women, and deserves special recognition as a consequence; and
            (2) meet such additional requirements and specifications as 
        the Secretary of Labor determines to be appropriate.
    (c) Making and Presentation of Award.--
            (1) Award.--After receiving recommendations from the 
        Secretary of Labor, the President or the designated 
        representative of the President shall annually present the 
        award described in subsection (a) to businesses that meet the 
        qualifications described in subsection (b).
            (2) Presentation.--The President or the designated 
        representative of the President shall present the award under 
        this section with such ceremonies as the President or the 
        designated representative of the President may determine to be 
        appropriate.
    (d) Business.--In this section, the term ``business'' includes--
            (1)(A) a corporation, including a nonprofit corporation;
            (B) a partnership;
            (C) a professional association;
            (D) a labor organization; and
            (E) a business entity similar to an entity described in any 
        of subparagraphs (A) through (D);
            (2) an entity carrying out an education referral program, a 
        training program, such as an apprenticeship or management 
        training program, or a similar program; and
            (3) an entity carrying out a joint program, formed by a 
        combination of any entities described in paragraph (1) or (2).

SEC. 8. COLLECTION OF PAY INFORMATION BY THE EQUAL EMPLOYMENT 
              OPPORTUNITY COMMISSION.

    Section 709 of the Civil Rights Act of 1964 (42 U.S.C. 2000e-8) is 
amended by adding at the end the following:
    ``(f)(1) Not later than 18 months after the date of enactment of 
this subsection, the Commission shall--
            ``(A) complete a survey of the data that is currently 
        available to the Federal Government relating to employee pay 
        information for use in the enforcement of Federal laws 
        prohibiting pay discrimination and, in consultation with other 
        relevant Federal agencies, identify additional data collections 
        that will enhance the enforcement of such laws; and
            ``(B) based on the results of the survey and consultations 
        under subparagraph (A), issue regulations to provide for the 
        collection of pay information data from employers as described 
        by the sex, race, and national origin of employees.
    ``(2) In implementing paragraph (1), the Commission shall have as 
its primary consideration the most effective and efficient means for 
enhancing the enforcement of Federal laws prohibiting pay 
discrimination. For this purpose, the Commission shall consider factors 
including the imposition of burdens on employers, the frequency of 
required reports (including which employers should be required to 
prepare reports), appropriate protections for maintaining data 
confidentiality, and the most effective format for the data collection 
reports.''.

SEC. 9. AUTHORIZATION OF APPROPRIATIONS.

    There are authorized to be appropriated such sums as may be 
necessary to carry out this Act.
Example Output: Paycheck Fairness Act - Amends the Fair Labor Standards Act of 1938 (FLSA) to revise remedies for and enforcement of prohibitions against sex discrimination in the payment of wages (such FLSA prohibitions are also known as the Equal Pay Act). 
(Sec. 3) Amends FLSA to provide for enhanced enforcement of equal pay requirements, adding a nonretaliation requirement.  Increases penalties for such violations.  Provides for the Secretary of Labor to seek additional compensatory or punitive damages in such cases. 
(Sec. 4) Requires the Equal Employment Opportunity Commission (EEOC) and the Office of Federal Contract Compliance Programs to train EEOC employees and affected individuals and entities on matters involving wage discrimination. 
(Sec. 5) Directs the Secretary to conduct studies and provide information to employers, labor organizations, and the general public concerning the means available to eliminate pay disparities between men and women, including convening a national summit and carrying out other specified activities. 
(Sec. 6) Directs the Secretary to: (1) develop guidelines for employer evaluations of job categories based on objective criteria, to be used voluntarily by employers to compare wages for different jobs to determine if pay scales adequately and fairly reflect each job's educational and skill requirements, independence, working conditions, and responsibility, in order to eliminate unfair pay disparities between occupations traditionally dominated by men or women; and (2) establish a program to recognize employers who use such guidelines to ensure that women are paid fairly in comparison to men without lowering men's wages.  Authorizes the Secretary to provide technical assistance for employers to carry out such evaluations. 
(Sec. 7) Establishes the Robert Reich National Award for Pay Equity in the Workplace, which shall be evidenced by a medal.  Sets forth criteria for specified types of entities to receive such an award. 
(Sec. 8) Expresses the sense of the Senate that the President should: (1) take appropriate steps to increase the amount of information available with respect to wage disparities; and (2) consider ways to collect such information that maximize its utility, protect individual privacy, and minimize reporting burdens. 
(Sec. 9) Authorizes appropriations.

Example Input: SECTION 1. FINDINGS AND PURPOSE.

    (a) Findings.--Congress finds that--
            (1) certain scattered parcels of Federal land in Gilpin 
        County, Colorado, are administered by the Secretary of the 
        Interior as part of the Royal Gorge Resource Area, Canon City 
        District, Bureau of Land Management;
            (2) these land parcels, which comprises approximately 133 
        separate tracts of land, and range in size from approximately 
        38 acres to much less than an acre have been identified as 
        suitable for disposal by the Bureau of Land Management through 
        its resource management planning process and are appropriate 
        for disposal; and
            (3) even though the Federal land parcels in Gilpin County, 
        Colorado, are scattered and small in size, they nevertheless by 
        virtue of their proximity to existing communities appear to 
        have a fair market value which may be used by the Federal 
        Government to exchange for lands which will better lend 
        themselves to Federal management and have higher values for 
        future public access, use and enjoyment, recreation, the 
        protection and enhancement of fish and wildlife and fish and 
        wildlife habitat, and the protection of riparian lands, 
        wetland, scenic beauty and other public values.
    (b) Purpose.--It is the purpose of this Act to authorize, direct, 
facilitate and expedite the land exchange set forth herein in order to 
further the public interest by disposing of Federal lands with limited 
public utility and acquire in exchange therefor lands with important 
values for permanent public management and protection.

SEC. 2. LAND EXCHANGE.

    (a) In General.--The exchange directed by this Act shall be 
consummated if within 90 days after enactment of this Act, Lake Gulch, 
Inc., a Colorado Corporation (as defined in section 4 of this Act) 
offers to transfer to the United States pursuant to the provisions of 
this Act the offered lands or interests in land described herein.
    (b) Conveyance by Lake Gulch.--Subject to the provisions of section 
3 of this Act, Lake Gulch shall convey to the Secretary of the Interior 
all right, title, and interest in and to the following offered lands--
            (1) certain lands comprising approximately 40 acres with 
        improvements thereon located in Larimer County, Colorado, and 
        lying within the boundaries of Rocky Mountain National Park as 
        generally depicted on a map entitled ``Circle C Church Camp'', 
        dated August 1994, which shall upon their acquisition by the 
        United States and without further action by the Secretary of 
        the Interior be incorporated into Rocky Mountain National Park 
        and thereafter be administered in accordance with the laws, 
        rules and regulations generally applicable to the National Park 
        System and Rocky Mountain National Park;
            (2) certain lands located within and adjacent to the United 
        States Bureau of Land Management San Luis Resource Area in 
        Conejos County, Colorado, which comprise approximately 3,993 
        acres and are generally depicted on a map entitled ``Quinlan 
        Ranches Tract'', dated August 1994; and
            (3) certain lands located within the United States Bureau 
        of Land Management Royal Gorge Resource Area in Huerfano 
        County, Colorado, which comprise approximately 4,700 acres and 
        are generally depicted on a map entitled ``Bonham Ranch-
        Cucharas Canyon'', dated June 1995: Provided, That it is the 
        intention of Congress that such lands may remain available for 
        the grazing of livestock as determined appropriate by the 
        Secretary in accordance with applicable laws, rules, and 
        regulations: Provided further, That if the Secretary determines 
        that certain of the lands acquired adjacent to Cucharas Canyon 
        hereunder are not needed for public purposes they may be sold 
        in accordance with the provisions of section 203 of the Federal 
        Land Policy and Management Act of 1976 and other applicable 
        law.
    (c) Substitution of Lands.--If one or more of the precise offered 
land parcels identified above is unable to be conveyed to the United 
States due to appraisal or other problems, Lake Gulch and the Secretary 
may mutually
 agree to substitute therefor alternative offered lands acceptable to 
the Secretary.
    (d) Conveyance by the United States.--(1) Upon receipt of title to 
the lands identified in subsection (a) the Secretary shall 
simultaneously convey to Lake Gulch all right, title, and interest of 
the United States, subject to valid existing rights, in and to the 
following selected lands--
            (A) certain surveyed lands located in Gilpin County, 
        Colorado, Township 3 South, Range 72 West, Sixth Principal 
        Meridian, Section 18, Lots 118-220, which comprise 
        approximately 195 acres and are intended to include all 
        federally owned lands in section 18, as generally depicted on a 
        map entitled ``Lake Gulch Selected Lands'', dated July 1994;
            (B) certain surveyed lands located in Gilpin County, 
        Colorado, Township 3 South, Range 72 West, Sixth Principal 
        Meridian, Section 17, Lots 37, 38, 39, 40, 52, 53, and 54, 
        which comprise approximately 96 acres, as generally depicted on 
        a map entitled ``Lake Gulch Selected Lands'', dated July 1994; 
        and
            (C) certain unsurveyed lands located in Gilpin County, 
        Colorado, Township 3 South, Range 73 West, Sixth Principal 
        Meridian, Section 13, which comprise approximately 11 acres, 
        and are generally depicted as parcels 302-304, 306, and 308-326 
        on a map entitled ``Lake Gulch Selected Lands'', dated July 
        1994: Provided, however, That a parcel or parcels of land in 
        section 13 shall not be transferred to Lake Gulch if at the 
        time of the proposed transfer the parcel or parcels are under 
        formal application for transfer to a qualified unit of local 
        government. Due to the small and unsurveyed nature of such 
        parcels proposed for transfer to Lake Gulch in section 13, and 
        the high cost of surveying such small parcels, the Secretary is 
        authorized to transfer such section 13 lands to Lake Gulch 
        without survey based on such legal or other description as the 
        Secretary determines appropriate to carry out the basic intent 
        of the map cited in this subparagraph.
    (2) If the Secretary and Lake Gulch mutually agree, and the 
Secretary determines it is in the public interest, the Secretary may 
utilize the authority and direction of this Act to transfer to Lake 
Gulch lands in sections 17 and 13 that are in addition to those precise 
selected lands shown on the map cited herein, and which are not under 
formal application for transfer to a qualified unit of local 
government, upon transfer to the Secretary of additional offered lands 
acceptable to the Secretary or upon payment to the Secretary by Lake 
Gulch of cash equalization money amounting to the full appraised fair 
market value of any such additional lands. If any such additional lands 
are located in section 13 they may be transferred to Lake Gulch without 
survey based on such legal or other description as the Secretary 
determines appropriate as long as the Secretary determines that the 
boundaries of any adjacent lands not owned by Lake Gulch can be 
properly identified so as to avoid possible future boundary conflicts 
or disputes. If the Secretary determines surveys are necessary to 
convey any such additional lands to Lake Gulch, the costs of such 
surveys shall be paid by Lake Gulch but shall not be eligible for any 
adjustment in the value of such additional lands pursuant to section 
206(f)(2) of the Federal Land Policy and Management Act of 1976 (as 
amended by the Federal Land Exchange Facilitation Act of 1988) (43 
U.S.C. 1716(f)(2)).
    (3) Prior to transferring out of public ownership pursuant to this 
Act or other authority of law any lands which are contiguous to North 
Clear Creek southeast of the City of Black Hawk, Colorado in the County 
of Gilpin, Colorado, the Secretary shall notify and consult with the 
County and City and afford such units of local government an 
opportunity to acquire or reserve pursuant to the Federal Land Policy 
and Management Act of 1976 or other applicable law, such easements or 
rights-of-way parallel to North Clear Creek as may be necessary to 
serve public utility line or recreation path needs: Provided, however, 
That any survey or other costs associated with the acquisition or 
reservation of such easements or rights-of-way shall be paid for by the 
unit or units of local government concerned.

SEC. 3. TERMS AND CONDITIONS OF EXCHANGE.

    (a) Equalization of Values.--(1) The values of the lands to be 
exchanged pursuant to this Act shall be equal as determined by the 
Secretary of the Interior utilizing nationally recognized appraisal 
standards, including, to the extent appropriate, the Uniform Standards 
for Federal Land Acquisition, the Uniform Standards of Professional 
Appraisal Practice, the provisions of section 206(d) of the Federal 
Land Policy and Management Act of 1976 (43 U.S.C. 1716(d)), and other 
applicable law.
    (2) In the event any cash equalization or land sale moneys are 
received by the United States pursuant to this Act, any such moneys 
shall be retained by the Secretary of the Interior and may be utilized 
by the Secretary until fully expended to purchase from willing sellers 
land or water rights, or a combination thereof, to augment wildlife 
habitat and protect and restore wetlands in the Bureau
 of Land Management's Blanca Wetlands, Alamosa County, Colorado.
    (3) Any water rights acquired by the United States pursuant to this 
section shall be obtained by the Secretary of the Interior in 
accordance with all applicable provisions of Colorado law, including 
the requirement to change the time, place, and type of use of said 
water rights through the appropriate State legal proceedings and to 
comply with any terms, conditions, or other provisions contained in an 
applicable decree of the Colorado Water Court. The use of any water 
rights acquired pursuant to this section shall be limited to water that 
can be used or exchanged for water that can be used on the Blanca 
Wetlands. Any requirement or proposal to utilize facilities of the San 
Luis Valley Project, Closed Basin Diversion, in order to effectuate the 
use of any such water rights shall be subject to prior approval of the 
Rio Grande Water Conservation District.
    (b) Restrictions on Selected Lands.--(1) Conveyance of the selected 
lands to Lake Gulch pursuant to this Act shall be contingent upon Lake 
Gulch executing an agreement with the United States prior to such 
conveyance, the terms of which are acceptable to the Secretary of the 
Interior, and which--
            (A) grant the United States a covenant that none of the 
        selected lands, (which currently lie outside the legally 
        approved gaming area) shall ever be used for purposes of gaming 
        should the current legal gaming area ever be expanded by the 
        State of Colorado; and
            (B) permanently hold the United States harmless for 
        liability and indemnify the United States against all costs 
        arising from any activities, operations (including the storing, 
        handling, and dumping of hazardous materials or substances) or 
        other acts conducted by Lake Gulch or its employees, agents, 
        successors or assigns on the selected lands after their 
        transfer to Lake Gulch: Provided, however, That nothing in this 
        Act shall be construed as either diminishing or increasing any 
        responsibility or liability of the United States based on the 
        condition of the selected lands prior to or on the date of 
        their transfer to Lake Gulch.
    (2) Conveyance of the selected lands to Lake Gulch pursuant to this 
Act shall be subject to the existing easement for Gilpin County Road 6.
    (3) The above terms and restrictions of this subsection shall not 
be considered in determining, or result in any diminution in, the fair 
market value of the selected land for purposes of the appraisals of the 
selected land required pursuant to section 3 of this Act.
    (c) Revocation of Withdrawal.--The Public Water Reserve established 
by Executive order dated April 17, 1926 (Public Water Reserve 107), 
Serial Number Colorado 17321, is hereby revoked insofar as it affects 
the NW\1/4\ SW\1/4\ of Section 17, Township 3 South, Range 72 West, 
Sixth Principal Meridian, which covers a portion of the selected lands 
identified in this Act.

SEC. 4. MISCELLANEOUS PROVISIONS.

    (a) Definitions.--As used in this Act.
            (1) The term ``Secretary'' means the Secretary of the 
        Interior.
            (2) The term ``Lake Gulch'' means Lake Gulch, Inc., a 
        Colorado corporation, or its successors, heirs or assigns.
            (3) The term ``offered land'' means lands to be conveyed to 
        the United States pursuant to this Act.
            (4) The term ``selected land'' means lands to be 
        transferred to Lake Gulch, Inc., or its successors, heirs or 
        assigns pursuant to this Act.
            (5) The term ``Blanca Wetlands'' means an area of land 
        comprising approximately 9,200 acres, as generally depicted on 
        a map entitled ``Blanca Wetlands'', dated April 1994, or such 
        land as the Secretary may add thereto by purchase from willing 
        sellers after the date of enactment of this Act utilizing funds 
        provided by this Act or such other moneys as Congress may 
        appropriate.
    (b) Time Requirement for Completing Transfer.--It is the intent of 
Congress that unless the Secretary and Lake Gulch mutually agree 
otherwise the exchange of lands authorized and directed by this Act 
shall be completed not later than 6 months after the date of enactment 
of this Act. In the event the exchange cannot be consummated within 
such 6-month-time period, the Secretary, upon application by Lake 
Gulch, is directed to sell to Lake Gulch at appraised fair market value 
any or all of the parcels (comprising a total of approximately 11 
acres) identified in section 2(d)(1)(C) of this Act as long as the 
parcel or parcels applied for are not under formal application for 
transfer to a qualified unit of local government.
    (c) Administration of Lands Acquired by United States.--In 
accordance with the provisions of section 206(c) of the Federal Land 
Policy and Management Act of 1976 (43 U.S.C. 1716(c)), all lands 
acquired by the United States pursuant to this Act shall upon 
acceptance of title by the United States and without further action by 
the Secretary concerned become part of and be managed as part of the 
administrative unit or area within which they are located.
Example Output:
Directs the Secretary of the Interior to convey to Lake Gulch, Inc., a Colorado corporation, specified lands in Gilpin County, Colorado, in exchange for:  (1) certain lands comprising approximately 40 acres located in Larimer County, Colorado, within the boundaries of Rock Mountain National Park; (2) certain lands located within and adjacent to the United States Bureau of Land Management San Luis Resource Area in Conejos County, Colorado; and (3) certain lands located within the United States Bureau of Land Management Royal Gorge Resource Area in Huerfano County, Colorado. 
Allows the Secretary of the Interior and Lake Gulch to agree to substitute alternative lands if one or more of the precise offered land parcels is unable to be conveyed. 
Directs the Secretary to notify and consult with the County and City and afford such units of local government the opportunity to acquire or reserve easements or rights-of-way parallel to North Clear Creek in Gilpin, Colorado, prior to transferring any lands which are contiguous to North Clear Creek out of public ownership. 
Expresses that the exchange will be contingent upon Lake Gulch executing an agreement with the United States:  (1) containing terms which are acceptable to the Secretary of the Interior; (2) granting the United States a covenant that none of the selected lands (which currently lie outside the legally approved gaming area) will ever be used for gaming; and (3) permanently holding the United States harmless for liability and indemnifying the United States against all costs arising from activities, operations, or other acts conducted by Lake Gulch or its employees, agents, successors or assigns on the selected lands after their transfer to Lake Gulch.