In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
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Question: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Antimicrobial Data Collection Act''.

SEC. 2. RESEARCH PROGRAMS TO STUDY ANTIMICROBIAL RESISTANCE.

    (a) Definitions.--In this Act--
            (1) the term ``Commissioner'' means the Commissioner of 
        Food and Drugs; and
            (2) the term ``Secretary'' means the Secretary of Health 
        and Human Services.
    (b) Commencement of Pilot Data Collection and Analysis Program.--
The Secretary, acting through the Commissioner, shall develop a 
research program or programs to study the relationship between the 
sales, distribution, end-use practices of animal drugs containing an 
antimicrobial active ingredient in food-producing animals and 
antimicrobial resistance trends. The Secretary may also consider any 
other available sound information, science, research, expertise, or 
program designs in carrying out this subsection.
    (c) Purpose of Programs.--Any research program developed under 
subsection (b) shall be developed in order to better determine--
            (1) the relationships between sales data, distribution 
        data, and end-usage data of animal drugs containing an 
        antimicrobial active ingredient in food-producing animals to 
        inform policies of Food and Drug Administration regarding data 
        collection and regulation of antimicrobial products in 
        agriculture, including consideration of the potential value and 
        feasibility of data from veterinary feed directives and other 
        sources; and
            (2) the relationships between the use of animal drugs 
        containing an antimicrobial active ingredient in food-producing 
        animals and trends in antimicrobial resistance, including by 
        using the data collected through the National Antimicrobial 
        Resistance Monitoring System or other studies regarding 
        resistance levels in bacteria associated with food-producing 
        animals.
    (d) Consultation.--Any research program developed under subsection 
(b) shall be developed in consultation with the Secretary of 
Agriculture, which shall include at a minimum consultation with the 
Under Secretary for Food Safety, the Under Secretary for Marketing and 
Regulatory Programs, and the Under Secretary for Research, Education, 
and Economics at the Department of Agriculture. To the extent 
practicable, such Under Secretaries shall provide assistance in 
developing and conducting such research programs.
    (e) Implementation.--Not later than 180 days after the date of 
enactment of this Act, the Secretary shall implement the research 
program or programs developed under subsection (b). The Secretary shall 
analyze data from such program or programs to determine the 
contribution of such data to studying antimicrobial resistance and 
establishing the antimicrobial data collection strategy as described in 
section 3(b)(1)(B).

SEC. 3. REPORTS TO CONGRESS; DEVELOPMENT OF DATA COLLECTION STRATEGY.

    (a) Initial Report.--As soon as practicable after the date of 
enactment of this Act, the Secretary shall--
            (1) submit to Congress a report that--
                    (A) describes the research design and goals for the 
                research program or programs developed under section 
                2(b); and
                    (B) includes a needs assessment, considering broad 
                sources of data and models on antimicrobial use in 
                food-producing animals that the Food and Drug 
                Administration may need or from which the Food and Drug 
                Administration could benefit, to improve the evaluation 
                of Food and Drug Administration programs regarding 
                antimicrobial resistance and how a systematic and valid 
                data collection strategy will be designed to comply 
                with subsection (b)(1)(B); and
            (2) make such report publicly available.
    (b) Report Regarding Results and Recommendations.--Not later than 2 
years after the date of enactment of this Act, the Secretary shall--
            (1) submit to Congress a report that--
                    (A) describes the comprehensive results of any 
                research program or programs developed under section 
                2(b), including with respect to the determinations made 
                pursuant to paragraphs (1) and (2) of section 2(c); and
                    (B) provides recommendations for developing an 
                antimicrobial data collection strategy based on the 
                information contained in the comments to the Advanced 
                Notice of Proposed Rulemaking entitled ``Antimicrobial 
                Animal Drug Distribution Reporting'' (77 Fed. Reg. 
                44177 (July 27, 2012)) and any relevant information 
                obtained in the research pilot program carried out 
                under section 2; and
            (2) make such report publicly available.

SEC. 4. ENHANCED REPORTING AND PUBLICATION OF SALES DATA.

    (a) In General.--Section 512(l)(3)(E) of the Federal Food, Drug, 
and Cosmetic Act (21 U.S.C. 360b(l)(3)(E)) is amended--
            (1) by redesignating clauses (i) and (ii) as subclauses (I) 
        and (II);
            (2) by striking ``The Secretary shall make summaries of the 
        information reported under this paragraph publicly available, 
        except that--'' and inserting ``(i) Not later than a date 
        established by the Secretary for 2014, and on such date in each 
        year thereafter, the Secretary shall make publicly available a 
        summary of the information (including dosage form information, 
        if practicable) reported under this paragraph for the previous 
        year, except that--''; and
            (3) by inserting after subclause (II), as redesignated by 
        paragraph (1), the following:
    ``(ii) In making the summaries available under this subparagraph, 
the following shall apply:
            ``(I) The Secretary shall segregate the categories of 
        amounts reported into the following 2 subcategories, after 
        consultation with applicable classifications as determined by 
        the Secretary, subject to subclause (IV):
                    ``(aa) The volume of drugs of importance to human 
                medicine.
                    ``(bb) The volume of drugs not of importance to 
                human medicine.
            ``(II) As practicable, the Secretary shall segregate 
        amounts reported into the following:
                    ``(aa) Container size.
                    ``(bb) Strength.
                    ``(cc) Dosage form.
                    ``(dd) Marketing status.
            ``(III) In any cross-tabulation of the amounts reported 
        with any reporting category, the Secretary shall include the 
        categories `Not Independently Reported' and `Not Independently 
        Reported Export'.
            ``(IV) Every 5 years, the Secretary shall reevaluate the 
        classifications consulted under subclause (I) after opportunity 
        for public comment.
    ``(iii) The Secretary shall maximize the quality, accuracy, detail, 
and specificity of data made publicly available in the summaries under 
this subparagraph, to the extent practicable, such as regarding the 
type, estimated level of exposure, and target animals of antimicrobial 
drugs. In carrying out the preceding sentence, the Secretary may 
provide additional information in such summaries.
    ``(iv) The Secretary shall conduct an annual evaluation of the 
effectiveness of and compliance with relevant policies and programs of 
the Food and Drug Administration regarding antimicrobial drug sales for 
food-producing animals, and use of such drugs and antimicrobial 
resistance, using valid and robust performance metrics. Beginning in 
2014, the Secretary shall include with each annual summary made 
publicly available under this subparagraph a report that describes the 
results of the evaluation conducted under this clause with respect to 
the preceding year.''.
    (b) Reissuance.--Not later than 3 years after the date of enactment 
of this Act, the Secretary shall reissue the summary reports issued 
before 2012 under section 512(l)(3)(E) of the Federal Food, Drug, and 
Cosmetic Act (21 U.S.C. 360b(l)(3)(E)) using the format designed for 
the 2012 summary report. The Secretary shall publish the reissued 
reports in one combined publication.

SEC. 5. ACTION TO PROTECT PUBLIC AND ANIMAL HEALTH.

    (a) Publication of Final Guidance.--
            (1) In general.--Not later than 180 days after the date of 
        enactment of this Act, the Secretary shall publish a final 
        version of the draft Voluntary Guidance #213 of the Food and 
        Drug Administration (entitled ``New Animal Drugs and New Animal 
        Drug Combination Products Administered in or on Medicated Feed 
        or Drinking Water of Food-Producing Animals: Recommendations 
        for Drug Sponsors for Voluntarily Aligning Product Use 
        Conditions with GFI #209'').
            (2) Effect of subsection.--Nothing in this subsection shall 
        be construed to affect any other obligations of the Food and 
        Drug Administration regarding the authorities of such 
        Administration to regulate antimicrobial drugs and protect 
        public health.
    (b) Report by GAO.--
            (1) In general.--Not later than 3 years after the 
        conclusion of the research pilot program or programs developed 
        under section 2, the Comptroller General of the United States 
        shall commence a study to evaluate--
                    (A) the approaches used by the Food and Drug 
                Administration to eliminate injudicious use of 
                antimicrobial drugs in food-producing animals; and
                    (B) the effectiveness of the data collection 
                activities carried out by the Food and Drug 
                Administration regarding antimicrobial resistance.
            (2) Report.--Not later than 1 year after commencing the 
        study described in paragraph (1), the Comptroller General of 
        the United States shall submit to the Committee on Health, 
        Education, Labor, and Pensions of the Senate and the Committee 
        on Energy and Commerce of the House of Representatives a report 
        that describes the results of such study.

Answer: Antimicrobial Data Collection Act - Requires the Secretary of Health and Human Services (HHS), acting through the Commissioner of Food and Drugs (FDA), to develop a research program to study the relationship between the sales, distribution, and end-use practices of animal drugs containing an antimicrobial active ingredient in food-producing animals and antimicrobial resistance trends. Requires the Secretary to analyze data from the program to determine the data's contribution to studying antimicrobial resistance and establishing an antimicrobial data collection strategy. Requires the Secretary to: (1) report to Congress on the program's research design and goals, including a needs assessment to improve the FDA's evaluation of antimicrobial resistance; and (2) report to Congress and the public within two years with the comprehensive results of the program and recommendations for developing an antimicrobial data collection strategy. Amends the Federal Food, Drug, and Cosmetic Act to revise the requirements for the annual summaries of antimicrobial animal drug information, including by requiring the Secretary to maximize the quality, accuracy, detail, and specificity of the data made publicly available in the summaries. Requires the Secretary to conduct an annual evaluation of the effectiveness of and compliance with relevant FDA programs and policies regarding antimicrobial drug sales for food-producing animals, and the use of such drugs and antimicrobial resistance. Directs the Secretary to publish a final version of voluntary guidance for drug sponsors on new animal drugs and new animal drug combination products administered in or on medicated feed or drinking water of food-producing animals. Requires the Comptroller General (GAO) to evaluate the FDA's approaches to eliminate injudicious use of antimicrobial drugs in food-producing animals and the effectiveness of the FDA's data collection activities regarding antimicrobial resistance.


Question: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Women's History and Nineteenth 
Amendment Centennial Quarter Dollar Coin Program Act''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) The tireless and passionate efforts of the suffragists, 
        their supporters, and other stakeholders contributed to the 
        movement to grant and protect the right of all women to vote.
            (2) On August 26, 1920, after a long campaign by 
        suffragists across the country, the United States Constitution 
        was amended with the 19th Amendment, granting women the right 
        to vote.
            (3) On June 24, 1924, all Native Americans were granted 
        citizenship, and by extension the right to vote.
            (4) In 1948, the legal victories of Native American 
        veterans granted protections for the right of all Native men 
        and women to vote.
            (5) On June 27, 1952, the Immigration and Nationality Act 
        of 1952 was enacted, granting citizenship to all individuals of 
        Asian descent, and by extension, the right to vote.
            (6) Enactment of the Voting Rights Act of 1965 on August 6, 
        1965, granted Black women protections to overcome the legal 
        barriers that prevented many from exercising their right to 
        vote even though all Blacks had been granted citizenship in 
        1868 with ratification of the 14th Amendment.
            (7) On August 6, 1975, the amendments to the 
        reauthorization of the Voting Rights Act of 1965 removed 
        language barriers to mitigate discrimination against Hispanic, 
        Asian, and Native American voters.
            (8) It was not until March 29, 1961, when the 23rd 
        Amendment passed that women in Washington, DC, were allowed to 
        vote in all elections.
            (9) Women's history and the movement for women's rights 
        that the suffragists began extends beyond ratification of the 
        Nineteenth Amendment.
            (10) August 26, 2020, marks the centennial of the day that 
        women were granted the right to vote in America.

SEC. 3. ISSUANCE OF COINS COMMEMORATING THE NINETEENTH AMENDMENT.

    (a) Amendment to National Sites Quarter Dollar Program.--Subsection 
(t) of section 5112 of title 31, United States Code, is amended--
            (1) in paragraph (1)(A), by striking ``Notwithstanding the 
        fourth sentence of subsection (d)(1) and subsection (d)(2)'' 
        and inserting ``Subject to paragraph (8), and notwithstanding 
        the fourth sentence of subsection (d)(1) and subsection 
        (d)(2)'';
            (2) by striking paragraph (7) and inserting the following:
            ``(7) Period of issuance.--Subject to paragraph (2), the 
        program established under this subsection shall continue in 
        effect until a national site in each State has been honored and 
        shall terminate not later than March 31, 2021.''; and
            (3) by striking paragraph (8) and inserting the following:
            ``(8) Designs starting on january 1, 2021.--
                    ``(A) Transition period.--The design of the quarter 
                dollar from January 1, 2021, to March 31, 2021, shall 
                be as follows:
                            ``(i) On January 1, 2021, the design shall 
                        be the final design of the national sites 
                        program established by this subsection.
                            ``(ii) On a date selected by the Secretary 
                        that is not earlier than January 15, 2021, and 
                        not later than March 31, 2021, the design shall 
                        be the first design selected pursuant to the 
                        program described in subsection (w).
                    ``(B) Design after end of program.--As of April 1, 
                2021, the design of the quarter dollar shall be in 
                accordance with subsection (w).''.
    (b) Issuance of Coins Commemorating the Nineteenth Amendment.--
Section 5112 of title 31, United States Code, is amended by adding at 
the end the following:
    ``(w) Redesign and Issuance of Quarter Dollars Commemorating the 
Ratification of the Nineteenth Amendment.--
            ``(1) Redesign beginning in 2021.--Notwithstanding the 
        fourth sentence of subsection (d)(1) and subsection (d)(2), 
        quarter dollars issued during the period beginning on the date 
        described in subsection (t)(8)(A)(ii) and ending on the date 
        described in paragraph (8) shall have designs on the reverse 
        selected in accordance with this subsection.
            ``(2) Nineteenth amendment quarter dollar design 
        requirements.--
                    ``(A) Flexibility with regard to placement of 
                inscriptions.--Notwithstanding subsection (d)(1), the 
                Secretary may select a design for quarter dollars 
                described in paragraph (1) in which--
                            ``(i) the inscription described in the 
                        second sentence of subsection (d)(1) appears on 
                        the reverse side of any such quarter dollars; 
                        and
                            ``(ii) any inscription described in the 
                        third sentence of subsection (d)(1) or the 
                        designation of the value of the coin appears on 
                        the obverse side of any such quarter dollars.
                    ``(B) Single prominent american woman.--
                Notwithstanding subsection (d)(1), the design on the 
                reverse of each coin issued under this subsection 
                shall--
                            ``(i) be emblematic of the accomplishments 
                        and contributions of a prominent woman who was 
                        a resident of a State, the District of 
                        Columbia, or a territory;
                            ``(ii) bear the name of the prominent woman 
                        and the State, District of Columbia, or 
                        territory; and
                            ``(iii) bear other appropriate 
                        inscriptions.
            ``(3) Issuance of coins during each year.--
                    ``(A) In general.--The designs for the quarter 
                dollar coins issued during each year of the period 
                referred to in paragraph (1) shall be emblematic of a 
                maximum of 5 States, the District of Columbia, or 
                territories.
                    ``(B) Order of issuance.--The quarter dollar coins 
                issued during each year of the period referred to in 
                paragraph (1) shall be issued in alphabetical order of 
                the area represented, starting with Alabama.
                    ``(C) Number of each of coin designs in each 
                year.--The Secretary shall prescribe the number of 
                quarter dollars which shall be issued with each of the 
                designs selected for each year.
            ``(4) Selection of design.--
                    ``(A) In general.--Each of the designs required 
                under this subsection for quarter dollar coins shall--
                            ``(i) be approved by the Secretary after--
                                    ``(I) submission of a 
                                recommendation from the chief executive 
                                of the applicable State, the District 
                                of Columbia, or territory being 
                                commemorated;
                                    ``(II) consultation with women's 
                                groups and organizations within the 
                                applicable State, the District of 
                                Columbia, or territory being 
                                commemorated that are pursuing a 
                                mission focused on increasing the 
                                inclusion of women, or improving the 
                                quality of life for women; and
                                    ``(III) consultation with the 
                                Commission of Fine Arts;
                            ``(ii) be reviewed by the Citizens Coinage 
                        Advisory Committee; and
                            ``(iii) honor or commemorate a woman who 
                        has made significant contributions to the lives 
                        of individuals of the applicable State, the 
                        District of Columbia, or territory.
                    ``(B) Selection and approval process.--Designs for 
                quarter dollars may be submitted in accordance with the 
                design selection and approval process developed by the 
                Secretary.
                    ``(C) Participation.--The Secretary shall include 
                in design selection, to the greatest extent 
                practicable, participation by--
                            ``(i) the chief executive of the applicable 
                        State, District of Columbia, or territory;
                            ``(ii) artists from the States, District of 
                        Columbia, and territories;
                            ``(iii) engravers of the United States 
                        Mint; and
                            ``(iv) members of the general public from 
                        groups or organizations that are pursuing a 
                        mission focused on increasing the inclusion of 
                        women or improving the quality of life for 
                        women.
                    ``(D) Standards.--Because it is important that the 
                Nation's coinage and currency bear dignified designs of 
                which the citizens of the United States can be proud, 
                the Secretary shall not select any frivolous or 
                inappropriate design for any coin minted under this 
                subsection.
                    ``(E) Prohibition on certain representations.--The 
                design of any quarter dollar under this subsection may 
                not include--
                            ``(i) a head and shoulders portrait or bust 
                        of any person, living or dead;
                            ``(ii) a portrait of a living person; or
                            ``(iii) a depiction of an individual in a 
                        size such that the coin could be considered to 
                        be a `2-headed' coin.
                    ``(F) Release of designs.--Not later than August 
                31, 2020, the Secretary shall publish each of the first 
                5 designs described in subparagraph (A).
            ``(5) Treatment as numismatic items.--For purposes of 
        sections 5134 and 5136, all coins described under this 
        subsection shall be considered to be numismatic items.
            ``(6) Issuance.--
                    ``(A) Quality of coins.--The Secretary may mint and 
                issue such number of quarter dollars of each design 
                selected under paragraph (4) in uncirculated and proof 
                qualities as the Secretary determines to be 
                appropriate.
                    ``(B) Silver coins.--Notwithstanding subsection 
                (b), the Secretary may mint and issue such number of 
                quarter dollars of each design selected under paragraph 
                (4) as the Secretary determines to be appropriate, with 
                a content of not less than 90 percent silver.
            ``(7) Application in event of the admission of additional 
        state.--If any additional State is admitted into the Union 
        before the termination date described in paragraph (8), the 
        Secretary may issue quarter dollar coins, in accordance with 
        this subsection, with a design which is emblematic of such 
        State during any 1 year of the period described in paragraph 
        (1), in addition to the quarter dollar coins issued during such 
        year in accordance with paragraph (3)(A).
            ``(8) Termination date.--The authority to issue quarter 
        dollar coins pursuant to this subsection shall terminate on 
        December 31 of the year in which the final State or territory 
        has been commemorated with a design pursuant to paragraph (3).
            ``(9) Designs after end of program.--On the first day of 
        the year following the year of the date described in paragraph 
        (8)--
                    ``(A) the design on the obverse of the quarter 
                dollar shall revert to the same design containing an 
                image of President Washington in effect for the quarter 
                dollar before the institution of the 50-State quarter 
                dollar program; and
                    ``(B) notwithstanding the fourth sentence of 
                subsection (d)(1), the design on the reverse of the 
                quarter dollar shall contain an image of General 
                Washington crossing the Delaware River prior to the 
                Battle of Trenton.
            ``(10) Definitions.--In this subsection:
                    ``(A) The term `territory' means the Commonwealth 
                of Puerto Rico, Guam, American Samoa, the United States 
                Virgin Islands, and the Commonwealth of the Northern 
                Mariana Islands.
                    ``(B) The term `resident', with respect to a State, 
                the District of Columbia, or a territory, means that a 
                woman resided in such State, the District of Columbia, 
                or such territory for a period of at least 1 
                consecutive year.
    ``(x) Silver Bullion Investment Product.--
            ``(1) In general.--The Secretary shall strike and make 
        available for sale such number of bullion coins as the 
        Secretary determines to be appropriate that are exact 
        duplicates of the quarter dollars issued under subsection (w), 
        each of which shall--
                    ``(A) have a diameter of 3.0 inches and weigh 5.0 
                ounces;
                    ``(B) contain .999 fine silver;
                    ``(C) have incused into the edge the fineness and 
                weight of the bullion coin;
                    ``(D) bear an inscription of the denomination of 
                such coin, which shall be `quarter dollar'; and
                    ``(E) not be minted or issued by the United States 
                Mint as so-called `fractional' bullion coins or in any 
                size other than the size described in subparagraph (A).
            ``(2) Availability for sale.--Bullion coins minted under 
        paragraph (1)--
                    ``(A) shall become available for sale no sooner 
                than the first day of the calendar year in which the 
                circulating quarter dollar coins of which such bullion 
                coins are a duplicate are issued; and
                    ``(B) may only be available for sale during the 
                year in which such circulating quarter dollar coins are 
                issued.''.

SEC. 4. COLLECTION AND RECOGNITION PROGRAM.

    (a) In General.--Not later than December 1, 2018, the Secretary of 
the Treasury shall initiate a program to promote the collection of, and 
recognition of the subjects of, the coins authorized under the 
amendments made by this Act.
    (b) Study Required.--The Secretary shall conduct a study on the 
progress of the program described in subsection (a).
    (c) Report.--Not later than March 1, 2019, the Secretary shall 
submit a report to the Congress on the results of the study conducted 
pursuant to subsection (b).

Answer: Women's History and Nineteenth Amendment Centennial Quarter Dollar Coin Program Act  This bill requires&nbsp;the Department of the Treasury to mint and issue quarter-dollar coins in commemoration of the ratification of the Nineteenth Amendment granting women the right to vote. The design on the reverse of each coin shall be emblematic of the accomplishments and contributions of a prominent woman who was a resident of a state, the District of Columbia, or a U.S. territory.  Such coins shall be issued in alphabetical order of the area represented, starting with the state of Alabama.  Treasury shall:   initiate a program to promote collection of the coins and recognition of their subjects, and  strike and make available for sale silver bullion coins that are the exact duplicates of the coins. 


Question: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Economic Revitalization Act of 
1996''.

SEC. 2. DISTRESSED COMMUNITY ECONOMIC DEVELOPMENT BONDS.

    (a) In General.--Paragraph (1) of section 141(e) of the Internal 
Revenue Code of 1986 (defining qualified bond) is amended by striking 
``or'' at the end of subparagraph (F), by striking the period at the 
end of subparagraph (G) and inserting ``, or'', and by adding at the 
end thereof the following new subparagraph:
                    ``(H) a distressed community economic development 
                bond.''
    (b) Distressed Community Economic Development Bond Defined.--
            (1) In general.--Section 144 of such Code is amended by 
        adding at the end thereof the following new subsection:
    ``(d) Distressed Community Economic Development Bond.--For purposes 
of this subpart--
            ``(1) In general.--The term `distressed community economic 
        development bond' means any bond issued as part of an issue 95 
        percent or more of the net proceeds of which are to be used for 
        distressed community economic development purposes.
            ``(2) Distressed community economic development purposes.--
        For purposes of this subsection, the net proceeds of any issue 
        shall be treated as used for distressed community economic 
        development purposes to the extent such proceeds are used--
                    ``(A) to provide qualified economic development 
                facilities or land which is functionally related and 
                subordinate to such facilities, or
                    ``(B) to provide working capital required in 
                connection with the establishment of a qualified 
                business in a distressed community or the expansion of 
                such a business in such a community.
            ``(3) Qualified economic development facilities.--For 
        purposes of this subsection, the term `qualified economic 
        development facilities' means any property to which section 168 
        applies (or would apply but for section 179) if--
                    ``(A) such property was acquired by purchase (as 
                defined in section 179(d)(2)) after the date on which 
                the designation of the distressed community took 
                effect,
                    ``(B) the original use of which in the distressed 
                community commences with the person to whom the 
                financing is provided under the issue, and
                    ``(C) substantially all the use of which is in a 
                distressed community and in the active conduct of a 
                qualified business.
        For purposes of the preceding sentence, rules similar to the 
        rules of subsections (a)(2) and (b) of section 1397C shall 
        apply.
            ``(4) Qualified business.--For purposes of this 
        subsection--
                    ``(A) In general.--Except as otherwise provided in 
                this paragraph, the term `qualified business' means any 
                trade or business.
                    ``(B) Rental of real property.--The rental of any 
                building or structure located in a distressed community 
                shall be treated as a qualified business if and only 
                if--
                            ``(i) the property is not residential 
                        rental property (as defined in section 
                        168(e)(2), and
                            ``(ii) at least 50 percent of the gross 
                        rental income from the building or structure is 
                        from other qualified businesses in such 
                        community.
                    ``(C) Rental of tangible personal property.--The 
                rental of tangible personal property shall be treated 
                as a qualified business if and only if substantially 
                all of the rental of such property is by qualified 
                businesses in the distressed community or by individual 
                residents of the distressed community.
                    ``(D) Treatment of business holding intangibles.--
                The term `qualified business' shall not include any 
                trade or business consisting predominantly of the 
                development or holding of intangibles for sale or 
                license.
                    ``(E) Certain businesses excluded.--The term 
                `qualified business' shall not include any trade or 
                business consisting of--
                            ``(i) the operation of any facility 
                        described in subsection (c)(6)(B), or
                            ``(ii) operating a trade or business the 
                        principal activity of which is farming (within 
                        the meaning of subparagraph (A) or (B) of 
                        section 2032A(e)(5)), but only if, as of the 
                        close of the preceding taxable year, the sum of 
                        the following exceeds $500,000--
                                    ``(I) the aggregate unadjusted 
                                bases (or, if greater, the fair market 
                                value) of the assets owned by the 
                                taxpayer and used in such trade or 
                                business, and
                                    ``(II) the aggregate value of the 
                                assets leased by the taxpayer and used 
                                in such trade or business.
                        For purposes of subclause (II), rules similar 
                        to the rules of section 1397(b) shall apply.
            ``(5) Distressed community.--For purposes of this 
        subsection, the term `distressed community' means, with respect 
        to periods in any calendar year, any area--
                    ``(A) which is the area over which a general 
                purpose local governmental unit has jurisdiction and 
                which is designated for purposes of this subsection by 
                the governing body of such unit, and
                    ``(B) which (as of the beginning of such year) 
                meets the requirements of clause (i), (ii), or (iii) of 
                this subparagraph:
                            ``(i) Chronic economic distress.--An area 
                        meets the requirements of this clause if--
                                    ``(I) the area has experienced 
                                population loss (as determined by the 
                                1990 or subsequent census data) of not 
                                less than 5 percent, or
                                    ``(II) the area has experienced an 
                                average unemployment rate over the last 
                                5 years (as determined by the Bureau of 
                                Labor Statistics) of not less than 8 
                                percent.
                            ``(ii) Slow job growth.--An area meets the 
                        requirements of this clause if, over the last 5 
                        years--
                                    ``(I) the area has experienced job 
                                growth in the retail and manufacturing 
                                sectors of less than 3 percent, or
                                    ``(II) if data are available only 
                                for the manufacturing sector, the 
                                community has experienced no job growth 
                                in such sector, or if data are 
                                available only for the retail sector, 
                                the area has experienced job growth in 
                                such sector of less than 8.5 percent.
                            ``(iii) Major base closing.--An area meets 
                        the requirements of this clause if--
                                    ``(I) there has been a military 
                                base closing within its boundaries or 
                                adjacent thereto within the last 2 
                                years which has resulted, or will 
                                result, in the loss of not less than 
                                500 jobs, or
                                    ``(II) there has been an official 
                                notification of a military base closing 
                                within its boundaries or adjacent 
                                thereto within the next 6 months, which 
                                will result in the loss of not less 
                                than 500 jobs.
            ``(6) Prohibition of assistance for business relocations.--
                    ``(A) In general.--This subsection shall not apply 
                to any bonds issued as part of an issue if any of the 
                proceeds of such an issue are used to assist any 
                establishment in relocating from an area outside the 
                distressed community to the distressed community.
                    ``(B) Exception.--The limitation established in 
                subparagraph (A) shall not be construed to prohibit 
                assistance for the expansion of an existing business 
                entity through the establishment of a new branch 
                affiliate, or subsidiary if--
                            ``(i) the establishment of the new branch, 
                        affiliate, or subsidiary will not result in a 
                        decrease in employment in the area of original 
                        location or in any other area where the 
                        existing business entity conducts business 
                        operations, and
                            ``(ii) there is no reason to believe that 
                        the new branch, affiliate, or subsidiary is 
                        being established with the intention of closing 
                        down the operations of the existing business 
                        entity in the area of its original location or 
                        in any other area where the existing business 
                        entity conducts business operations.''
            (2) Clerical amendments.--
                    (A) The section heading for section 144 is amended 
                by striking ``qualified redevelopment bond.'' and 
                inserting ``etc.''.
                    (B) The table of sections for subpart A of part IV 
                of subchapter B of chapter 1 is amended by striking 
                ``qualified redevelopment bond.'' in the item relating 
                to section 144 and inserting ``etc.''.
    (c) Certain Rules Not To Apply.--
            (1) Subsection (h) of section 147 of such Code (relating to 
        certain rules which do not apply) is amended by adding at the 
        end thereof the following new paragraph:
            ``(3) Bonds for distressed community economic development 
        facilities.--Subsection (c)(1)(A) shall be applied by 
        substituting `50 percent' for `25 percent' and subsection (d) 
        shall not apply to any bond issued as part of an issue 
        described in section 144(d)(1).''
            (2) The subsection heading for subsection (h) of section 
        147 of such Code is amended to read as follows:
    ``(h) Special Rules for Certain Bonds.--''.
    (d) Volume Cap Only Charged With 50 Percent of Distressed Community 
Economic Development Bonds.--Subsection (g) of section 146 of such Code 
(relating to an exception for certain bonds from volume cap) is amended 
by striking ``and'' at the end of paragraph (3), by striking the period 
at the end of paragraph (4) and inserting ``, and'', and by inserting 
after paragraph (4) the following new paragraph:
            ``(5) 50 percent of any bond issued as part of an issue 
        described in section 144(d)(1) (relating to distressed 
        community economic development facilities).''
    (e) Penalties for Loans Made to Businesses That Cease To Be 
Distressed Community Economic Development Businesses, Etc.--Subsection 
(b) of section 150 of such Code (relating to change in use) is amended 
by adding at the end thereof the following new paragraph:
            ``(7) Distressed community economic development bonds.--In 
        the case of any qualified economic development facility with 
        respect to which financing was provided by an issue described 
        in section 144(d)(1):
                    ``(A) No deduction allowed.--No deduction shall be 
                allowed under this chapter for interest on such 
                financing which accrues during the period beginning on 
                the first day of the calendar year which includes the 
                date on which--
                            ``(i) the trade or business to which the 
                        financing was provided ceases to be a qualified 
                        business, or
                            ``(ii) substantially all of the use of such 
                        facility with respect to which the financing 
                        was provided ceases to be in a distressed 
                        community.
                 For purposes of this subparagraph, the term 
                `distressed community' means any area which qualifies 
                as a distressed community under section 144(d)(5) as of 
                the time the financing was provided without regard to 
                any subsequent revocation or termination.
                    ``(B) Penalty imposed on distressed community 
                economic development business.--If at any time while 
                such financing is outstanding--
                            ``(i) such facility ceases to be in use in 
                        a qualified business, or
                            ``(ii) substantially all of the use of such 
                        facility ceases to be in a distressed community 
                        (as so defined),
                 there is hereby imposed on such business to which such 
                financing was provided a penalty equal to 1.25 percent 
                of the portion of such financing which is outstanding 
                immediately before such cessation. Such penalty shall 
                be assessed and collected by the Secretary.
                    ``(C) Exception for bankruptcy.--Subparagraphs (A) 
                and (B) shall not apply to any cessation resulting from 
                bankruptcy.''
    (f) Bank Interest Deduction.--
            (1) In general.--Clause (ii) of section 265(b)(3)(B) of 
        such Code (relating to exception for certain tax-exempt 
        obligations) is amended--
                    (A) by striking ``or'' at the end of subclause (I),
                    (B) by redesignating subclause (II) as subclause 
                (III), and
                    (C) by inserting after subclause (I) the following 
                new subclause:
                                    ``(II) any bond issued as part of 
                                an issue described in section 
                                144(d)(1), or''.
            (2) Conforming agreement.--Subclause (I) of section 
        265(b)(3)(B)(i) of such Code (defining qualified tax-exempt 
        obligation) is amended by inserting ``or is an obligation 
        issued as part of an issue described in section 144(d)(1)'' 
        after ``issuer''.
    (g) Effective Date.--The amendments made by this section shall 
apply to bonds issued after the date of the enactment of this Act.

Answer:
Economic Revitalization Act of 1996 - Amends the Internal Revenue Code to provide a tax-exemption for distressed community economic development bonds.  Excepts 50 percent of such bonds from the volume cap.  Allows a deduction for such bonds as qualified tax-exempt obligations.