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 ``Mortgage Fairness Act''.

SEC. 2. COMMUNITY SUPPORT OBLIGATIONS OF MORTGAGE BANKS.

    (a) In General.--Each mortgage bank shall have an ongoing 
responsibility to meet the credit needs of all the communities in which 
such bank makes a significant number of extensions of credit or extends 
a significant amount of credit, including extensions of credit in low- 
and moderate-income neighborhoods of such communities.
    (b) Definitions.--For purposes of this Act, the following 
definitions shall apply:
            (1) Mortgage bank.--The term ``mortgage bank'' means any 
        lender who does not accept deposits and originates housing 
        related loans.
            (2) Office.--The term ``Office'' means the Office of 
        Mortgage Bank and Insurance Supervision established by the 
        Secretary of Housing and Urban Development pursuant to section 
        3.
            (3) Secretary.--The term ``Secretary'' means the Secretary 
        of Housing and Urban Development.

SEC. 3. ESTABLISHMENT OF OFFICE OF MORTGAGE BANK AND INSURANCE 
              SUPERVISION.

    The Secretary of Housing and Urban Development shall establish 
within the Department of Housing and Urban Development an office to be 
known as the Office of Mortgage Bank and Insurance Supervision to 
evaluate the community support performance of mortgage banks and 
mortgage insurance companies.

SEC. 4. MORTGAGE BANK COMMUNITY SUPPORT STATEMENTS.

    (a) In General.--The Office shall, on a biennial basis, require 
each mortgage bank to submit to the Office a community support 
statement, detailing the efforts of such bank at meeting the housing 
credit needs of each community in which the bank makes a significant 
number of extensions of credit or extends a significant amount of 
credit, including extensions of credit in low- and moderate-income 
neighborhoods of such communities.
    (b) Contents.--The statement submitted by each mortgage bank under 
subsection (a) shall include--
            (1) the data required to be maintained and disclosed by the 
        lender under the Home Mortgage Disclosure Act of 1975 for the 
        previous 2 years, in a format which the Office shall establish;
            (2) underwriting criteria employed by the bank for all of 
        the bank's housing loan products;
            (3) descriptions of any activity the bank has undertaken 
        over the period under review to ascertain and meet identified 
        credit needs in low- and moderate-income neighborhoods within 
        communities in which the bank makes a significant number of 
        extensions of credit or extends a significant amount of credit, 
        including any partnerships formed with community-based 
        organizations, nonprofit developers of affordable housing, or 
        agencies of State or local government;
            (4) details of any findings of technical or substantive 
        violations of the Equal Credit Opportunity Act or the Fair 
        Housing Act, and any settlements or judgments arising from any 
        such findings; and
            (5) any other information the Office may require.

SEC. 5. MORTGAGE BANK COMMUNITY SUPPORT EVALUATION.

    The Office shall determine whether a mortgage bank is maintaining 
an adequate community support performance, based on--
            (1) community support performance statements received from 
        mortgage banks;
            (2) an analysis of the data required to be maintained and 
        disclosed by the lender under the Home Mortgage Disclosure Act 
        of 1975 for the previous 2 years with respect to metropolitan 
        statistical areas in which the bank originates a significant 
        number of home loans, which shall emphasize--
                    (A) the institution's market share in neighborhoods 
                of different racial and income characteristics;
                    (B) the number of applications received from 
                minorities and low- and moderate-income persons; and
                    (C) the rate at which the institutions rejects 
                applications from minority and white applicants;
            (3) any evidence of illegal discriminatory credit 
        practices, including prescreening, or offering less favorable 
        loan products to applicants of different racial backgrounds; 
        and
            (4) public comment, which shall be received by the agency 
        for not less than 90 days after the Office actively solicits 
        comment solicitations of comment through notice in the Federal 
        Register and regular communications with community based 
        organizations.

SEC. 6. PENALTIES FOR FINDING OF INADEQUATE COMMUNITY SUPPORT 
              PERFORMANCE BY MORTGAGE BANKS.

    (a) Remedial Action.--If the Secretary finds that a mortgage bank 
is maintaining an inadequate level of community support, the Secretary 
may issue an order--
            (1) requiring the bank to file a community support action 
        plan with the Office not more than 90 days after the finding, 
        which shall include concrete goals and timetables for 
        correcting identified deficiencies; and
            (2) prohibiting the bank from using any program or product 
        administered by the Secretary until all identified deficiencies 
        are met.
    (b) Cease and Desist Orders.--
            (1) Issuance of order.--
                    (A) In general.--If the Secretary determines that 
                there is reasonable cause to believe that a mortgage 
                bank is violating, has violated, or is about to violate 
                an order under subsection (a) or a community support 
                action plan filed pursuant to such an order, the 
                Secretary may issue an order requiring the mortgage 
                bank to--
                            (i) cease and desist from any such 
                        violation; and
                            (ii) take such affirmative action to 
                        prevent the occurrence or the continuance of 
                        such violation as the Secretary determines to 
                        be appropriate.
                    (B) Notice of charges.--An order issued under this 
                paragraph shall include a notice of the charges on 
                which the order is based and a statement of the facts 
                constituting the alleged violation.
                    (C) Effective period.--An order issued under this 
                paragraph shall--
                            (i) become effective upon service to the 
                        mortgagee; and
                            (ii) remain effective and enforceable 
                        pursuant to the terms of the order unless 
                        modified or rescinded by the Secretary or 
                        pursuant to an order of a court under paragraph 
                        (3) or in connection with the court's review of 
                        any administrative proceedings with respect to 
                        the order issued under this subsection.
            (2) Hearing.--Any mortgage bank which receives an order 
        under paragraph (1) shall be afforded an opportunity for a 
        hearing on the record by the Secretary as soon as practicable 
        but not later than 20 days after the order has been served.
            (3) Judicial hearing.--Within 10 days after a mortgage bank 
        has been served with a cease-and-desist order under this 
        subsection, the bank may apply to the United States district 
        court for the judicial district in which the home office of the 
        bank is located, or the United States District Court for the 
        District of Columbia, for an injunction setting aside, 
        limiting, or suspending the enforcement, operation, or 
        effectiveness of such order pending the completion of the 
        administrative proceedings pursuant to the notice of charges 
        served upon the bank, and such court shall have jurisdiction to 
        issue such injunction.
            (4) Judicial enforcement.--The Secretary may apply to the 
        United States district court, or the United States court of any 
        territory, within the jurisdiction of which the home office of 
        the mortgagee is located, for an injunction to enforce any 
        effective and outstanding order issued under this subsection 
        and, if the court determines that there has been a violation or 
        threatened violation of such order, the court shall issue such 
        injunction.
    (c) Civil Money Penalty.--
            (1) Imposition of penalty.--
                    (A) In general.--The Secretary may impose a civil 
                money penalty on any mortgage bank, and any director, 
                officer or employee of a mortgage bank, who violates 
                any order issued under subsection (a) or (b).
                    (B) Amount of penalty.--The amount of the penalty, 
                as determined by the Secretary, may not exceed--
                            (i) in the case of a violation of an order 
                        issued under subsection (a), $10,000 for each 
                        month during which such violation occurs; and
                            (ii) in the case of a violation of an order 
                        issued under subsection (b), $10,000 for each 
                        day during which such violation continues.
                    (C) Notification to attorney general.--Before 
                taking action to impose a civil money penalty for a 
                violation under subparagraph (A), the Secretary shall 
                inform the Attorney General of the United States.
            (2) Assessment.--
                    (A) Written notice.--Any penalty imposed under 
                paragraph (1) may be assessed and collected by the 
                Secretary by written notice.
                    (B) Finality of assessment.--If, with respect to 
                any assessment under subparagraph (A), a hearing is not 
                requested pursuant to paragraph (5) within the period 
                of time allowed under such paragraph, the assessment 
                shall constitute a final and unappealable order.
            (3) Authority to modify or remit penalty.--The Secretary 
        may compromise, modify, or remit any penalty which the 
        Secretary may assess or already has assessed under paragraph 
        (1).
            (4) Mitigating factors.--In determining the amount of a 
        penalty under paragraph (1) with respect to any person, the 
        Secretary shall take into account the appropriateness of the 
        penalty with respect to--
                    (A) the gravity of the offense;
                    (B) any history of previous violations by the 
                person;
                    (C) the ability of the person to pay the penalty;
                    (D) injury to the public;
                    (E) benefits received by the person as a result of 
                the violation;
                    (F) the deterrent effect of the penalty on future 
                violations by such person and other persons; and
                    (G) such other factors as the Secretary may 
                determine in regulations to be appropriate.
            (5) Hearing.--The person against whom a civil money penalty 
        is assessed under paragraph (1) shall be afforded an 
        opportunity for a hearing on the record, if such person submits 
        a request for such hearing within 20 days after the issuance of 
        the notice of the assessment.
            (6) Collection.--
                    (A) Referral.--If any person fails to pay an 
                assessment after any penalty assessed under this 
                subsection has become final, the Secretary shall notify 
                the Attorney General who shall recover the amount 
                assessed in the appropriate United States district 
                court.
                    (B) Appropriateness of penalty not reviewable.--In 
                any civil action under subparagraph (A), the validity 
                and appropriateness of the penalty shall not be subject 
                to review.
            (7) Disbursement.--All penalties collected pursuant to this 
        subsection shall be deposited into the Treasury of the United 
        States.
            (8) Agency procedures--The Secretary shall, by regulation, 
        establish standards and procedures for carrying out this 
        subsection.

SEC. 7. COMMUNITY SUPPORT REQUIREMENTS FOR MORTGAGE INSURANCE 
              COMPANIES.

    (a) In General.--Each mortgage insurance company shall--
            (1) report to the Office the number and total dollar amount 
        of each mortgage insurance policy written by the company, by 
        census tract, the race, gender, and income of applicants for 
        mortgage insurance, and the disposition of each application for 
        mortgage insurance;
            (2) demonstrate to the Secretary adequate support for 
        community credit needs; and
            (3) make public to any person the underwriting criteria for 
        any mortgage insurance the company offers.
    (b) 2-Year Reporting Requirement.--At least once during each 2-year 
period beginning after the date of enactment of this Act, each mortgage 
insurance company shall submit a report to the Office containing the 
following information:
            (1) Adequacy of availability of mortgage insurance.--The 
        extent to which adequate mortgage insurance is available in 
        low- and moderate-income and minority neighborhoods within 
        areas in which the company writes a significant number of 
        mortgage insurance policies.
            (2) Underwriting guidelines.--The extent to which 
        underwriting guidelines used by the company do not unreasonably 
        restrict access to low- and moderate-income families within 
        areas in which the company writes a significant number of 
        mortgage insurance policies.
    (c) Duties of the Office.--The Office shall conduct biennial 
community support reviews of mortgage insurance companies including 
analysis of the following:
            (1) The data collected by the Agency on the distribution of 
        the mortgage insurance company's policies by census tract and 
        data on the disparate treatment of applicants for mortgage 
        insurance based on the applicants' race, gender, and income.
            (2) The underwriting criteria employed by the company and 
        the extent to which such criteria do not unreasonably restrict 
        access to credit for low- and moderate-income and minority 
        persons or neighborhoods.
            (3) Community support statements received from the mortgage 
        insurance company.
            (4) Any other information the Secretary may require 
        mortgage insurance companies to submit.
            (5) Any comments received from the public on the community 
        support performance of the mortgage insurance company during 
        the period covered by the review under this paragraph.
    (d) Duties of the Secretary.--The Secretary shall--
            (1) solicit and accept public comment for no fewer than 90 
        days before issuing a finding in connection with the review of 
        a mortgage insurance company under subsection (c)(2); and
            (2) review the community support performance of each 
        mortgage insurance company and determine whether the company is 
        providing an adequate level of community support in the areas 
        in which such company writes a significant number of mortgage 
        insurance policies.
    (e) Performance Statement.--If, after reviewing any evidence, the 
Secretary concludes that a mortgage insurance company is not meeting 
the requirements of this section, the Secretary may require such 
company to submit a statement indicating how the company expects to 
improve its record of providing community support.

A: Mortgage Fairness Act - Requires each mortgage bank to meet the credit needs of all communities in which it makes a significant number of extensions of credit or extends a significant amount of credit, including extensions of credit in low- and moderate-income communities. 
(Sec. 3) Directs the Secretary of Housing and Urban Development (HUD) to establish within HUD the Office of Mortgage Bank and Insurance Supervision. 
(Sec. 4) Directs the Office, on a biennial basis, to require each mortgage bank to submit to it a community support statement detailing the bank's efforts at meeting the housing credit needs of the above- referenced communities. 
(Sec. 5) Directs the Office to determine whether a mortgage bank is maintaining an adequate community support performance based on specified criteria. 
(Sec. 6) Sets forth certain penalties against a mortgage bank that has been found to be maintaining an inadequate level of community support. 
(Sec. 7) Requires each mortgage insurance company to: (1) report to the Office the total number and total dollar amount of each mortgage insurance policy written by it, by census tract, the race, gender, and income of applicants for mortgage insurance, and the disposition of each application for such insurance; (2) demonstrate to the Secretary adequate support for community credit needs; and (3) make public to any person the underwriting criteria for any mortgage insurance the company offers. 
Requires the Office to conduct biennial community support reviews of mortgage insurance companies.  Authorizes the Secretary to require a mortgage insurance company to submit a statement indicating how it expects to improve its record of providing community support whenever the Secretary concludes that such company is not meeting the requirements of this section.
****
Q: SECTION 1. FINDINGS.

    Congress finds that--
            (1) the historical significance of the 52-mile Going-to-
        the-Sun Road in Glacier National Park, Montana, is recognized 
        by its--
                    (A) listing on the National Register of Historic 
                Places in 1983;
                    (B) designation as a National Historic Engineering 
                Landmark by the American Society of Civil Engineers in 
                1985; and
                    (C) designation as a National Historic Landmark in 
                1997;
            (2) in 1997, recommendations of the Federal Highway 
        Administration concerning, and an engineering study of, the 
        Road verified significant structural damage to the Road has 
        occurred since the Road opened in 1932;
            (3) infrastructure at most of the developed areas in the 
        Park is inadequate for cold-season (fall, winter, and spring) 
        operation, and maintenance backlog needs exist for normal 
        summer operation;
            (4) the Many Glacier Hotel and Lake McDonald Lodge are on 
        the National Register of Historic Places and are National 
        Historic Landmarks;
            (5) other accommodations operated by the concessionaire 
        that have possessory interest and are listed on the National 
        Register of Historic Places are the Rising Sun Motor Inn and 
        Swiftcurrent Motel;
            (6) the historic hotels in the Park, operated under 
        concession agreements with the National Park Service, are 
        essential for public use and enjoyment of the Park;
            (7) visitors to the Park deserve safe hotels in the Park 
        that meet basic needs and expectations;
            (8) the historic hotels in the Park have deteriorated 
        significantly and need substantial repair;
            (9) repairs of the hotels in the Park have been deferred 
        for so long that, absent any changes to the Federal law 
        governing concessionaires and the availability of historic tax 
        credits for up to 39.5 years, the remodeling costs for the 
        hotels exceed the capacity of the hotel concessionaire to 
        finance the repairs with hotel revenues;
            (10) the remodeling costs of Park hotels are so high that 
        the concessionaire will need to finance the cost of those 
        repairs by borrowing the remodeling expenses and repaying them 
        over time out of net hotel income, which by current law is 
        limited to 20-year concession agreements;
            (11) the season of operation for hotels is about 4 months 
        because the developed areas of the Park lack--
                    (A) water, sewer, and fire protection systems that 
                can operate in freezing conditions;
                    (B) building insulation; and
                    (C) heating systems;
            (12) because of many factors, including the high projected 
        costs of remodeling, the relatively short tourist season in the 
        Park, and the requirement that concession agreements may not 
        exceed 20 years, concessionaires are unable to carry out the 
        scope of remodeling that is needed for the hotels in the Park;
            (13) the National Park Service Concessions Management 
        Improvement Act of 1998 (16 U.S.C. 5951 et seq.) is based on 
        sound principles and is achieving its basic purposes, but there 
        appear to be selected instances in which the National Park 
        Service needs additional authority to conduct demonstration 
        projects; and
            (14) a demonstration project is needed to carry out repairs 
        of the historic hotels in the Park.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Committee.--The term ``Committee'' means the Going-to-
        the-Sun Road Citizens' Advisory Committee.
            (2) Park.--The term ``Park'' means Glacier National Park, 
        Montana.
            (3) Road.--The term ``Road'' means Going-to-the-Sun Road, 
        located in the Park.
            (4) Secretary.--The term ``Secretary'' means the Secretary 
        of the Interior.

SEC. 3. GOING-TO-THE-SUN ROAD FEASIBILITY STUDY AND REHABILITATION 
              PLAN.

    (a) Feasibility Study.--
            (1) In general.--Not later than June 30, 2001, the 
        Secretary, in consultation with the Committee, shall complete a 
        feasibility study for rehabilitation of the Road.
            (2) Inclusions.--The feasibility study shall include--
                    (A) alternative plans for rehabilitation of the 
                Road, including--
                            (i) a ranking of the feasibility of each 
                        plan;
                            (ii) an estimate of the length of time 
                        necessary to complete each plan;
                            (iii) a description of which mitigation 
                        efforts would be used to preserve resources and 
                        minimize adverse economic effects of each plan;
                            (iv) an analysis of the costs and benefits 
                        of each plan;
                            (v) an estimate of the cost of each plan;
                    (B) an analysis of long-term maintenance needs, 
                standards, and schedules for the Road, alternatives to 
                accomplish the work, maintenance staff needs, and 
                associated cost estimates; and
                    (C) a complete environmental analysis that meets 
                any applicable requirement of--
                            (i) the National Environmental Policy Act 
                        of 1969 (42 U.S.C. 4321 et seq.);
                            (ii) the National Historic Preservation Act 
                        (16 U.S.C. 470 et seq.); and
                            (iii) any other applicable law.
            (3) Submission.--Not later than 30 days after completion of 
        the feasibility study, the Secretary shall submit to the 
        Committee on Resources in the House of Representatives and the 
        Committee on Energy and Natural Resources in the Senate a copy 
        of the study.
    (b) Rehabilitation Plan.--
            (1) In general.--As soon as practicable after completing 
        the study and environmental analysis under subsection (a), the 
        Secretary shall--
                    (A) consider the recommendations of the Committee;
                    (B) make any decision documented in the 
                environmental analysis process; and
                    (C) select and implement a rehabilitation plan for 
                the Road.
            (2) Authorized actions.--In implementing a rehabilitation 
        plan under this subsection, the Secretary may--
                    (A) use funds to--
                            (i) rehabilitate the Road; and
                            (ii) carry out transportation system 
                        improvements or impact mitigation activities 
                        outside the Park, if recommended in the 
                        feasibility study and by the Committee; and
                    (B) seek funding for any long-term maintenance 
                needs identified in the feasibility study.
            (3) Authorization of appropriations.--There is authorized 
        to be appropriated to the Secretary to implement the 
        rehabilitation plan (including the cost of any necessary 
        environmental or cultural documentation and monitoring), 
        $200,000,000.
    (c) Continuation of Maintenance.--Nothing in this section affects 
the duty of the Secretary to continue the program in effect on the day 
before the date of the enactment of this Act to preserve, maintain, and 
address safety concerns relating to the Road.

SEC. 4. MAINTENANCE AND UPGRADE OF UTILITY
              SYSTEMS.

    (a) In General.--As soon as practicable after funds are made 
available under this section, the Secretary shall begin the upgrade and 
continue the maintenance of utility systems that serve the Park and 
facilities relating to the Park.
    (b) Authorization of Appropriations.--There is authorized to be 
appropriated to the Secretary to carry out this section, $20,000,000.

SEC. 5. HOTEL REHABILITATION.

    (a) Competitive Leases of Property.--Notwithstanding section 3(k) 
of Public Law 91-383 (commonly known as the ``National Park System 
General Authorities Act'') (16 U.S.C. 1a-2) or any other provision of 
law, subject to subsection (b), the Secretary may enter into a 
competitive lease of Federal property in the Park under which a lessee 
may provide visitor services to visitors to the area.
    (b) Mandatory Conditions of Leases.--
            (1) In general.--The Secretary shall enter into a lease 
        under subsection (a) only after determining that the provision 
        of visitor services--
                    (A) is necessary and appropriate for the 
                accommodation of visitors to the Park, taking into 
                consideration the value of providing additional visitor 
                services (including conference facilities) for groups 
                of visitors in the early spring and late fall months, 
                especially as those additional services may provide 
                extra revenue needed to finance improvements for the 
                historic hotels in Glacier National Park; and
                    (B) is consistent with section 402 of the National 
                Park Service Concessions Management Improvement Act of 
                1998 (16 U.S.C. 5952).
            (2) Terms and conditions.--The Secretary shall include in a 
        lease under this subsection appropriate terms and conditions to 
        ensure, to the maximum extent practicable, that--
                    (A) any visitor service provided is--
                            (i) adequate; and
                            (ii) available at a reasonable rate--
                                    (I) to be approved by the Secretary 
                                in accordance with section 406 of the 
                                National Park Service Concessions 
                                Management Improvement Act of 1998 (16 
                                U.S.C. 5951 et seq.); and
                                    (II) that may be at such a level as 
                                to allow any investment in capital 
                                improvements for visitor services to be 
                                recovered within a reasonable amount of 
                                time by the concessionaire that 
                                financed the improvements;
                    (B) the leased property will be properly maintained 
                by the lessee, and, with respect to historic property 
                that may be leased, preserved, and maintained in a 
                manner consistent with the historic character of the 
                property, as determined by the Secretary; and
                    (C) assure the lessee of adequate protection 
                against any loss of investment in an improvement to 
                real property that the lessee may make to the leased 
                property (including an obligation of the United States 
                to compensate the lessee for any loss of investment in 
                an improvement to real property in any circumstances 
                that the Secretary determines to be prudent).
    (c) Leasehold Surrender Value.--In any contract for improvements, 
the Secretary shall recognize the leasehold surrender value of any 
existing lease that the Secretary may require to be surrendered in any 
action that is associated with approving an improvement to visitor 
services under this section.

A: Directs the Secretary to upgrade and continue the maintenance of utility systems which service the Park and its related facilities. Authorizes appropriations.
Authorizes the Secretary to enter into competitive leases of federally-owned property in the Park under which the lessee will be authorized to provide visitor services (including a hotel), subject to specified conditions.
****
Q: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Tax Credit for Early Educators Act 
of 2012''.

SEC. 2. TAX CREDIT FOR PROFESSIONAL SCHOOL PERSONNEL IN EARLY CHILDHOOD 
              EDUCATION.

    (a) In General.--Subpart A of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 (relating to nonrefundable 
personal credits) is amended by inserting after section 25D the 
following new section:

``SEC. 25E. PROFESSIONAL SCHOOL PERSONNEL IN EARLY CHILDHOOD EDUCATION.

    ``(a) Allowance of Credit.--In the case of an eligible individual, 
there shall be allowed as a credit against the tax imposed by this 
chapter for the taxable year an amount equal to $3,000.
    ``(b) Eligible Individual.--For purposes of this section--
            ``(1) In general.--The term `eligible individual' means any 
        individual--
                    ``(A) who is employed in a position which involves 
                regular contact with students in an early childhood 
                school or program, and
                    ``(B) whose position involves the formulation or 
                implementation of the educational program for such 
                school or program.
            ``(2) Early childhood school or program.--The term `early 
        childhood school or program' means any school or program which 
        provides early childhood education, as determined under State 
        law.
    ``(c) Cost-of-Living Adjustment.--
            ``(1) In general.--In the case of any taxable year 
        beginning in a calendar year after 2012, the $3,000 amount 
        contained in subsection (a) shall be increased by an amount 
        equal to--
                    ``(A) such dollar amount, multiplied by
                    ``(B) the cost-of-living adjustment determined 
                under section 1(f)(3) for the calendar year in which 
                the taxable year begins, by substituting `calendar year 
                2011' for `calendar year 1992' in subparagraph (B) 
                thereof.
            ``(2) Rounding.--If any increase determined under paragraph 
        (1) is not a multiple of $10, such increase shall be increased 
        to the next highest multiple of $10.''.
    (b) Clerical Amendment.--The table of sections for subpart A of 
part IV of subchapter A of chapter 1 of such Code is amended by 
inserting after the item relating to section 25D the following new 
item:

``Sec. 25E. Professional school personnel in early childhood 
                            education.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2011.

SEC. 3. DEDUCTION FOR CERTAIN EXPENSES OF EARLY CHILDHOOD, PRESCHOOL, 
              ELEMENTARY AND SECONDARY SCHOOL TEACHERS.

    (a) In General.--Subparagraph (D) of section 62(a)(2) of the 
Internal Revenue Code of 1986 (relating to certain expenses of 
elementary and secondary school teachers) is amended to read as 
follows:
                    ``(D) Certain expenses of early childhood, 
                preschool, elementary and secondary school teachers.--
                In the case of taxable years beginning before 2017, the 
                deductions allowed by section 162 which consist of 
                expenses, not in excess of the applicable amount, paid 
                or incurred by an eligible educator in connection with 
                books, supplies (other than nonathletic supplies for 
                courses of instruction in health or physical 
                education), computer equipment (including related 
                software and services) and other equipment, and 
                supplementary materials used by the eligible educator 
                in the classroom.''.
    (b) Definitions.--Subsection (d) of section 62 of such Code 
(relating to definition; special rules) is amended to read as follows:
    ``(d) Definitions Relating to Early Childhood, Preschool, 
Elementary and Secondary School Teachers.--For purposes of subsection 
(a)(2)(D) and this subsection--
            ``(1) Applicable amount.--The term `applicable amount' 
        means--
                    ``(A) $500 in the case of a full-time educator, and
                    ``(B) $250 in any other case.
            ``(2) Eligible educator.--The term `eligible educator' 
        means, with respect to any taxable year, an individual who is--
                    ``(A) a kindergarten through grade 12 teacher, 
                instructor, counselor, principal, or aide in a school 
                for at least 450 hours during a school year which ends 
                during such taxable year, or
                    ``(B) a teacher, instructor, counselor, or aid in a 
                preschool or early childhood program for at least 450 
                hours during the taxable year.
            ``(3) Full-time educator.--The term `full-time educator' 
        means, with respect to any taxable year, an individual who for 
        such taxable year satisfies the requirements of subparagraph 
        (A) or (B) of paragraph (2) applied by substituting `900 hours' 
        for `450 hours' therein.
            ``(4) School.--The term `school' means any school which 
        provides elementary education or secondary education 
        (kindergarten through grade 12), as determined under State law.
            ``(5) Preschool or early childhood program.--The term 
        `preschool or early childhood program' means any program 
        which--
                    ``(A) is for providing preschool and receives funds 
                for carrying out preschool programs pursuant to--
                            ``(i) part A of title I of the Elementary 
                        and Secondary Education Act of 1965, or
                            ``(ii) subpart 2 of part B of title I of 
                        such Act, or
                    ``(B) is an early childhood program, as defined 
                under section 103 of the Higher Education Act of 
                1965.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years ending after the date of the enactment of this 
Act.

SEC. 4. MODIFICATION OF CREDIT FOR DEPENDENT CARE SERVICES.

    (a) In General.--Subsection (a) of section 21 of the Internal 
Revenue Code of 1986 is amended to read as follows:
    ``(a) Allowance of Credit.--In the case of an individual for which 
there are 1 or more qualifying individuals (as defined in subsection 
(b)(1)) with respect to such individual, there shall be allowed as a 
credit against the tax imposed by this chapter for the taxable year an 
amount equal to 35 percent of the employment-related expenses (as 
defined in subsection (b)(2)) paid by such individual during the 
taxable year.''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.

A:
Tax Credit for Early Educators Act of 2012 - Amends the Internal Revenue Code to: (1) allow an individual taxpayer who is employed in a position involving regular contact with students in an early childhood school or education program and whose position involves the formulation or implementation of educational programs for such school or program a $3,000 tax credit, adjusted for inflation after 2012; (2) extend until 2017 the tax deduction for certain expenses of eligible educators (currently, elementary and secondary school teachers) and expand the definition of "eligible educators" to include teachers, instructors, counselors, or aides in a preschool or early childhood program; and (3) eliminate the income-based reduction in the tax credit for employer-provided dependent care services (thus allowing a full 35% credit for employment-related expenses incurred for the care of a dependent).
****