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

[EX Q]: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Prescription Drug Fairness for 
Seniors Act of 2001''.

SEC. 2. FINDINGS AND PURPOSES.

    (a) Findings.--The Congress finds the following:
            (1) Manufacturers of prescription drugs engage in price 
        discrimination practices that compel many older Americans to 
        pay substantially more for prescription drugs than consumers in 
        foreign nations and the drug manufacturers' most favored U.S. 
        customers, such as health insurers, health maintenance 
        organizations, and the Federal Government.
            (2) Older Americans who buy their own prescription drugs 
        often pay twice as much for prescription drugs as consumers in 
        foreign nations and the drug manufacturers' most favored U.S. 
        customers. In some cases, older Americans pay 10 times more for 
        prescription drugs than such customers.
            (3) The discriminatory pricing by major drug manufacturers 
        sustains their high profits (for example, $27,300,000,000 in 
        1999), but causes financial hardship and impairs the health and 
        well-being of millions of older Americans. Many older Americans 
        are forced to choose between buying their food and buying their 
        medicines.
            (4) Foreign nations and U.S. federally funded health care 
        programs use purchasing power to obtain prescription drugs at 
        low prices. Medicare beneficiaries are denied this benefit and 
        cannot obtain their prescription drugs at the lower prices 
        available to such nations and programs.
            (5) Implementation of the policy set forth in this Act will 
        reduce prices for brand name prescription drugs for many 
        Medicare beneficiaries by an average of 40 percent.
            (6) In addition to substantially lowering the costs of 
        prescription drugs for older Americans, implementation of the 
        policy set forth in this Act will significantly improve the 
        health and well-being of older Americans and lower the costs to 
        the Federal taxpayer of the Medicare program.
            (7) Older Americans who are terminally ill and receiving 
        hospice care services represent some of the most vulnerable 
        individuals in our nation. Making prescription drugs available 
        to Medicare beneficiaries under the care of Medicare-certified 
        hospices will assist in extending the benefits of lower 
        prescription drug prices to those most vulnerable and in need.
    (b) Purpose.--The purpose of this Act is to protect Medicare 
beneficiaries from discriminatory pricing by drug manufacturers and to 
make prescription drugs available to Medicare beneficiaries at 
substantially reduced prices.

SEC. 3. PARTICIPATING MANUFACTURERS.

    (a) In General.--Each participating manufacturer of a covered 
outpatient drug shall make available for purchase by each pharmacy such 
covered outpatient drug in the amount described in subsection (b) at 
the price described in subsection (c).
    (b) Description of Amount of Drugs.--The amount of a covered 
outpatient drug that a participating manufacturer shall make available 
for purchase by a pharmacy is an amount equal to the aggregate amount 
of the covered outpatient drug sold or distributed by the pharmacy to 
Medicare beneficiaries.
    (c) Description of Price.--The price at which a participating 
manufacturer shall make a covered outpatient drug available for 
purchase by a pharmacy is a price no greater than the manufacturer's 
average foreign price.
    (d) Enforcement.--The United States shall debar a manufacturer of 
drugs or biologicals that does not comply with the provisions of this 
Act.

SEC. 4. SPECIAL PROVISION WITH RESPECT TO HOSPICE PROGRAMS.

    For purposes of determining the amount of a covered outpatient drug 
that a participating manufacturer shall make available for purchase by 
a pharmacy under section 3, there shall be included in the calculation 
of such amount the amount of the covered outpatient drug sold or 
distributed by a pharmacy to a hospice program. In calculating such 
amount, only amounts of the covered outpatient drug furnished to a 
Medicare beneficiary enrolled in the hospice program shall be included.

SEC. 5. ADMINISTRATION.

    The Secretary shall issue such regulations as may be necessary to 
implement this Act.

SEC. 6. REPORTS TO CONGRESS REGARDING EFFECTIVENESS OF ACT.

    (a) In General.--Not later than 2 years after the date of the 
enactment of this Act, and annually thereafter, the Secretary shall 
report to the Congress regarding the effectiveness of this Act in--
            (1) protecting Medicare beneficiaries from discriminatory 
        pricing by drug manufacturers, and
            (2) making prescription drugs available to Medicare 
        beneficiaries at substantially reduced prices.
    (b) Consultation.--In preparing such reports, the Secretary shall 
consult with public health experts, affected industries, organizations 
representing consumers and older Americans, and other interested 
persons.
    (c) Recommendations.--The Secretary shall include in such reports 
any recommendations the Secretary considers appropriate for changes in 
this Act to further reduce the cost of covered outpatient drugs to 
Medicare beneficiaries.

SEC. 7. DEFINITIONS.

    In this Act:
            (1) Average foreign price.--
                    (A) In general.--The term ``average foreign price'' 
                means, with respect to a covered outpatient drug, the 
                average price that the manufacturer of the drug 
                realizes on the sale of drugs with the same active 
                ingredient or ingredients that are consumed in covered 
                foreign nations, taking into account--
                            (i) any rebate, contract term or condition, 
                        or other arrangement (whether with the 
                        purchaser or other persons) that has the effect 
                        of reducing the amount realized by the 
                        manufacturer on the sale of the drugs; and
                            (ii) adjustments for any differences in 
                        dosage, formulation, or other relevant 
                        characteristics of the drugs.
                    (B) Exempt transactions.--The Secretary may, by 
                regulation, exempt from the calculation of the average 
                foreign price of a drug those prices realized by a 
                manufacturer in transactions that are entered into for 
                charitable purposes, for research purposes, or under 
                other unusual circumstances, if the Secretary 
                determines that the exemption is in the public interest 
                and is consistent with the purposes of this Act.
            (2) Covered foreign nation.--The term ``covered foreign 
        nation' means Canada, France, Germany, Italy, Japan, and the 
        United Kingdom.
            (3) Covered outpatient drug.--The term ``covered outpatient 
        drug'' has the meaning given that term in section 1927(k)(2) of 
        the Social Security Act (42 U.S.C. 1396r-8(k)(2)).
            (4) Debar.--The term ``debar'' means to exclude, pursuant 
        to established administrative procedures, from Government 
        contracting and subcontracting for a specified period of time 
        commensurate with the seriousness of the failure or offense or 
        the inadequacy of performance.
            (5) Hospice program.--The term ``hospice program'' has the 
        meaning given that term under section 1861(dd)(2) of the Social 
        Security Act (42 U.S.C. 1395x(dd)(2)).
            (6) Medicare beneficiary.--The term ``Medicare 
        beneficiary'' means an individual entitled to benefits under 
        part A of title XVIII of the Social Security Act or enrolled 
        under part B of such title, or both.
            (7) Participating manufacturer.--The term ``participating 
        manufacturer'' means any manufacturer of drugs or biologicals 
        that, on or after the date of the enactment of this Act, enters 
        into a contract or agreement with the United States for the 
        sale or distribution of covered outpatient drugs to the United 
        States.
            (8) Secretary.--The term ``Secretary'' means the Secretary 
        of Health and Human Services.

SEC. 8. EFFECTIVE DATE.

    The Secretary shall implement this Act as expeditiously as 
practicable and in a manner consistent with the obligations of the 
United States.
[EX A]: Prescription Drug Fairness for Seniors Act of 2001 - Requires each participating manufacturer of a covered outpatient drug to make it available for purchase by each pharmacy: (1) in an amount equal to the aggregate amount sold or distributed by the pharmacy to Medicare beneficiaries; and (2) at a price no greater than the manufacturer's average foreign price. Sets forth special provisions with respect to hospice programs.

[EX Q]: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Safe and Secure Federal Websites Act 
of 2015''.

SEC. 2. ENSURING FUNCTIONALITY AND SECURITY OF NEW FEDERAL WEBSITES 
              THAT COLLECT PERSONALLY IDENTIFIABLE INFORMATION.

    (a) Certification Requirement.--
            (1) In general.--Except as otherwise provided under this 
        subsection, an agency may not deploy or make available to the 
        public a new Federal PII website until the date on which the 
        chief information officer of the agency submits a certification 
        to Congress that the website is fully functional and secure.
            (2) Transition.--In the case of a new Federal PII website 
        that is operational on the date of the enactment of this Act, 
        paragraph (1) shall not apply until the end of the 90-day 
        period beginning on such date of enactment. If the 
        certification required under paragraph (1) for such website has 
        not been submitted to Congress before the end of such period, 
        the head of the responsible agency shall render the website 
        inaccessible to the public until such certification is 
        submitted to Congress.
            (3) Exception for beta website with explicit permission.--
        Paragraph (1) shall not apply to a website (or portion thereof) 
        that is in a development or testing phase, if the following 
        conditions are met:
                    (A) A member of the public may access PII-related 
                portions of the website only after executing an 
                agreement that acknowledges the risks involved.
                    (B) No agency compelled, enjoined, or otherwise 
                provided incentives for such a member to access the 
                website for such purposes.
            (4) Construction.--Nothing in this section shall be 
        construed as applying to a website that is operated entirely by 
        an entity (such as a State or locality) that is independent of 
        the Federal Government, regardless of the receipt of funding in 
        support of such website from the Federal Government.
    (b) Definitions.--In this section:
            (1) Agency.--The term ``agency'' has the meaning given that 
        term under section 551 of title 5, United States Code.
            (2) Fully functional.--The term ``fully functional'' means, 
        with respect to a new Federal PII website, that the website can 
        fully support the activities for which it is designed or 
        intended with regard to the eliciting, collection, storage, or 
        maintenance of personally identifiable information, including 
        handling a volume of queries relating to such information 
        commensurate with the purpose for which the website is 
        designed.
            (3) New federal personally identifiable information website 
        (new federal pii website).--The terms ``new Federal personally 
        identifiable information website'' and ``new Federal PII 
        website'' mean a website that--
                    (A) is operated by (or under a contract with) an 
                agency;
                    (B) elicits, collects, stores, or maintains 
                personally identifiable information of individuals and 
                is accessible to the public; and
                    (C) is first made accessible to the public and 
                collects or stores personally identifiable information 
                of individuals, on or after October 1, 2012.
            (4) Operational.--The term ``operational'' means, with 
        respect to a website, that such website elicits, collects, 
        stores, or maintains personally identifiable information of 
        members of the public and is accessible to the public.
            (5) Personally identifiable information (pii).--The terms 
        ``personally identifiable information'' and ``PII'' mean any 
        information about an individual elicited, collected, stored, or 
        maintained by an agency, including--
                    (A) any information that can be used to distinguish 
                or trace the identity of an individual, such as a name, 
                a social security number, a date and place of birth, a 
                mother's maiden name, or biometric records; and
                    (B) any other information that is linked or 
                linkable to an individual, such as medical, 
                educational, financial, and employment information.
            (6) Responsible agency.--The term ``responsible agency'' 
        means, with respect to a new Federal PII website, the agency 
        that is responsible for the operation (whether directly or 
        through contracts with other entities) of the website.
            (7) Secure.--The term ``secure'' means, with respect to a 
        new Federal PII website, that the following requirements are 
        met:
                    (A) The website is in compliance with subchapter II 
                of chapter 35 of title 44, United States Code.
                    (B) The website ensures that personally 
                identifiable information elicited, collected, stored, 
                or maintained in connection with the website is 
                captured at the latest possible step in a user input 
                sequence.
                    (C) The responsible agency for the website has 
                encrypted, masked, or taken other similar actions to 
                protect personally identifiable information elicited, 
                collected, stored, or maintained in connection with the 
                website.
                    (D) The responsible agency for the website has 
                taken reasonable efforts to minimize domain name 
                confusion, including through additional domain 
                registrations.
                    (E) The responsible agency requires all personnel 
                who have access to personally identifiable information 
                in connection with the website to have completed a 
                Standard Form 85P and signed a non-disclosure agreement 
                with respect to personally identifiable information, 
                and the agency takes proper precautions to ensure that 
                only the fewest reasonable number of trustworthy 
                persons may access such information.
                    (F) The responsible agency maintains (either 
                directly or through contract) sufficient personnel to 
                respond in a timely manner to issues relating to the 
                proper functioning and security of the website, and to 
                monitor on an ongoing basis existing and emerging 
                security threats to the website.
            (8) State.--The term ``State'' means each State of the 
        United States, the District of Columbia, each territory or 
        possession of the United States, and each federally recognized 
        Indian tribe.

SEC. 3. PRIVACY BREACH REQUIREMENTS.

    (a) Information Security Amendment.--Subchapter II of chapter 35 of 
title 44, United States Code, is amended by adding at the end the 
following:
``Sec. 3559. Privacy breach requirements
    ``(a) Policies and Procedures.--The Director of the Office of 
Management and Budget shall establish and oversee policies and 
procedures for agencies to follow in the event of a breach of 
information security involving the disclosure of personally 
identifiable information, including requirements for--
            ``(1) not later than 72 hours after the agency discovers 
        such a breach, or discovers evidence that reasonably indicates 
        such a breach has occurred, notice to the individuals whose 
        personally identifiable information could be compromised as a 
        result of such breach;
            ``(2) timely reporting to a Federal cybersecurity center, 
        as designated by the Director of the Office of Management and 
        Budget; and
            ``(3) any additional actions that the Director finds 
        necessary and appropriate, including data breach analysis, 
        fraud resolution services, identity theft insurance, and credit 
        protection or monitoring services.
    ``(b) Required Agency Action.--The head of each agency shall ensure 
that actions taken in response to a breach of information security 
involving the disclosure of personally identifiable information under 
the authority or control of the agency comply with policies and 
procedures established by the Director of the Office of Management and 
Budget under subsection (a).
    ``(c) Report.--Not later than March 1 of each year, the Director of 
the Office of Management and Budget shall report to Congress on agency 
compliance with the policies and procedures established under 
subsection (a).
    ``(d) Federal Cybersecurity Center Defined.--The term `Federal 
cybersecurity center' means any of the following:
            ``(1) The Department of Defense Cyber Crime Center.
            ``(2) The Intelligence Community Incident Response Center.
            ``(3) The United States Cyber Command Joint Operations 
        Center.
            ``(4) The National Cyber Investigative Joint Task Force.
            ``(5) Central Security Service Threat Operations Center of 
        the National Security Agency.
            ``(6) The United States Computer Emergency Readiness Team.
            ``(7) Any successor to a center, team, or task force 
        described in paragraphs (1) through (6).
            ``(8) Any center that the Director of the Office of 
        Management and Budget determines is appropriate to carry out 
        the requirements of this section.''.
    (b) Technical and Conforming Amendment.--The table of sections for 
subchapter II of chapter 35 of title 44, United States Code, is amended 
by adding at the end the following:

``3559. Privacy breach requirements.''.
[EX A]: Safe and Secure Federal Websites Act of 2015 This bill establishes security and privacy requirements for new federal websites that collect personally identifiable information (PII) (i.e., information that can be used to distinguish or trace the identity of an individual or that is linked or linkable to an individual).  (Sec. 2) A federal agency may not deploy or make available to the public a new federal PII website until the agency's chief information officer (CIO) certifies to Congress that the website is fully functional and secure. The CIO must make such certification within 90 days after enactment of this Act. After such 90-day period, any new federal PII website that has not been certified must be rendered inaccessible until certification is submitted.  The prohibition does not apply to a website that is: (1) operated entirely by an entity that is independent of the federal government, or (2) in a development or testing phase (beta website). The exemption for beta websites applies only if: (1) a member of the public may access PII-related portions of the website only after executing an agreement that acknowledges the risks involved; and (2) no agency compelled, enjoined, or otherwise provided incentives for a member of the public to access such website.  The bill defines a "new federal PII website" as a website that: (1) is operated by (or under contract with) an agency; (2) elicits, collects, stores, or maintains PII and is accessible to the public; and (3) is first made accessible to the public and collects or stores PII on or after October 1, 2012. The bill also sets forth requirements that must be met to deem a new federal PII website as "secure." (Sec. 3) The Director of the Office of Management and Budget (OMB) must establish and oversee policies and procedures for federal agencies to follow in the event of a breach of information security involving the disclosure of PII, including: (1) notice, not later than 72 hours after discovery of a breach or possible breach, to individuals whose PII could be compromised; and (2) timely reporting to a federal cybersecurity center designated by the OMB and defined in this Act.  Agency heads must ensure that agency actions taken in response to a breach of information security involving the disclosure of PII comply with OMB policies and procedures established by this Act. The OMB must report to Congress, not later than March 1 of each year, on agency compliance with such policies and procedures.  A "federal cybersecurity center" is defined to include: (1) the Department of Defense Cyber Crime Center, (2) the Intelligence Community Incident Response Center, (3) the U.S. Cyber Command Joint Operations Center, (4) the National Cyber Investigative Task Force, (5) the Central Security Service Threat Operations Center of the National Security Agency, (6) the U.S. Computer Emergency Readiness Team, and (7) any center that the OMB determines is appropriate to carry out privacy breach notice and reporting requirements. 

[EX Q]: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Financial Security Credit Act of 
2013''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) The personal savings rate reached historic lows in the 
        past decade, and a lack of personal savings was a major 
        contributor to the depth and severity of the recession of 2007-
        2009.
            (2) Households continue to lack the savings or structures 
        to meet short-term and long-term needs, as evidenced by the 
        following:
                    (A) According to the Employee Benefit Research 
                Institute, among full-time, full-year wage and salary 
                workers ages 21-64, only 54.5 per cent participated in 
                a retirement plan in 2010.
                    (B) According to the Federal Deposit Insurance 
                Corporation's 2011 Survey of Unbanked and Underbanked 
                Households, an estimated 8.2 percent of United States 
                households, approximately 10 million households, are 
                unbanked. These households do not have a checking or 
                savings account. In total, 29.3 percent of households 
                do not have a savings account.
                    (C) More than 1 in 4 American households lives in 
                ``asset poverty'', meaning they lack the savings or 
                other assets to cover basic expenses (equivalent to 
                what could be purchased with a poverty level income) 
                for three months if a layoff or other emergency leads 
                to loss of income. If assets that cannot easily be 
                converted to cash, are excluded, such as a home or a 
                business, as many as 4 in 10 households live in 
                ``liquid asset poverty'', meaning they lack the cash 
                savings to survive three months at the poverty line.
            (3) Savings make families more resilient to financial 
        shocks and more upwardly mobile, as evidenced by the following:
                    (A) Even small sums of savings, $2,000 or less, 
                have been shown to significantly reduce the incidence 
                of negative financial or material outcomes, such as 
                foregoing adequate nutrition.
                    (B) Children born to low-income, high saving 
                parents are much more likely (71 percent) to move up 
                the economic ladder than children born to low-income, 
                low-saving parents (50 percent) over a generation.
            (4) Successful pilot programs have been run in cities as 
        diverse as Houston, Texas; Newark, New Jersey; New York City, 
        New York; San Antonio, Texas; and Tulsa, Oklahoma. These 
        programs, run through Volunteer Income Tax Assistance sites 
        serving only a fraction of potentially eligible tax filers in 
        each city, have shown that tax filers with low incomes can and 
        will save when presented with the right incentive at the right 
        moment.
            (5) It is in the economic interests of the United States to 
        promote savings among all members of society, regardless of 
        income.

SEC. 3. FINANCIAL SECURITY CREDIT.

    (a) In General.--Subpart C of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 is amended by inserting after 
section 36C the following new section:

``SEC. 36D. FINANCIAL SECURITY CREDIT.

    ``(a) Allowance of Credit.--There shall be allowed as a credit 
against the tax imposed by this subtitle for a taxable year an amount 
equal to the lesser of--
            ``(1) $500, or
            ``(2) 50 percent of the total amount deposited or 
        contributed by the taxpayer in accordance with subsection 
        (b)(1) into designated savings products during such taxable 
        year.
    ``(b) Limitations.--
            ``(1) Credit must be deposited in or contributed to 
        designated savings product.--No amount shall be allowed as a 
        credit under subsection (a) for a taxable year unless the 
        taxpayer designates on the taxpayer's return of tax for the 
        taxable year that the amount of the credit for such taxable 
        year be deposited in or contributed to one or more designated 
        savings products of the taxpayer and the Secretary makes such 
        deposits or contributions to the designated savings products.
            ``(2) Limitation based on adjusted gross income.--
                    ``(A) In general.--The amount of the credit 
                allowable under subsection (a) shall be reduced (but 
                not below zero) by an amount which bears the same ratio 
                to the amount of such credit (determined without regard 
                to this paragraph) as--
                            ``(i) the amount by which the taxpayer's 
                        adjusted gross income exceeds the threshold 
                        amount, bears to
                            ``(ii) $15,000.
                    ``(B) Threshold amount.--For purposes of 
                subparagraph (A), the term `threshold amount' means--
                            ``(i) $55,500 in the case of a joint 
                        return,
                            ``(ii) $41,625 in the case of an individual 
                        who is not married, and
                            ``(iii) 50 percent of the dollar amount in 
                        effect under clause (i) in the case of a 
                        married individual filing a separate return.
                For purposes of this subparagraph, marital status shall 
                be determined under section 7703.
    ``(c) Designated Savings Product.--For purposes of this section, 
the term `designated savings product' means any of the following:
            ``(1) A qualified retirement plan (as defined in section 
        4974(c)).
            ``(2) A qualified tuition program (as defined in section 
        529).
            ``(3) A Coverdell education savings account (as defined in 
        section 530).
            ``(4) A United States savings bond.
            ``(5) A certificate of deposit (or similar class of 
        deposit) with a duration of at least 8 months.
            ``(6) A savings account.
            ``(7) Any other type of savings product considered to be 
        appropriate by the Secretary for the purposes of this section.
    ``(d) Special Rules.--
            ``(1) Tax refunds treated as deposited or contributed in 
        current taxable year.--For purposes of subsection (a)(2), the 
        amount of any overpayment of taxes refunded to the taxpayer 
        (reduced by any amount attributable to the credit allowed under 
        this section by reason of being considered as an overpayment by 
        section 6401(b)) and designated for deposit in or contribution 
        to a designated savings product of the taxpayer shall be 
        treated as an amount deposited or contributed in the taxable 
        year in which so deposited or contributed.
            ``(2) Maintenance of deposit.--No contribution or deposit 
        shall be taken into account under subsection (a) unless such 
        contribution or deposit remains in the designated savings 
        product for not less than 8 continuous months.
            ``(3) Reduction in deposits in designated savings 
        products.--
                    ``(A) In general.--The amount of deposits or 
                contributions taken into account under subsection (a) 
                shall be reduced (but not below zero) by the aggregate 
                amount of distributions (other than interest from 
                designated savings products specified in paragraphs 
                (4), (5), (6), and (7) of subsection (c)) from all 
                designated savings products of the taxpayer during the 
                testing period. The preceding sentence shall not apply 
                to the portion of any distribution which is not 
                includible in gross income by reason of a trustee-to-
                trustee transfer or a rollover distribution.
                    ``(B) Testing period.--For purposes of subparagraph 
                (A), the testing period, with respect to a taxable 
                year, is the period which includes--
                            ``(i) such taxable year,
                            ``(ii) the 2 preceding taxable years, and
                            ``(iii) the period after such taxable year 
                        and before the due date (including extensions) 
                        for filing the return of tax for such taxable 
                        year.
                    ``(C) Other rules.--Rules similar to subparagraphs 
                (C) and (D) of section 25B(d)(2) shall apply for 
                purposes of this paragraph.
            ``(4) Denial of double benefit.--No credit shall be allowed 
        under section 25B with respect to any deposit for which a 
        credit is allowed under this section.
            ``(5) Coordination with other refundable credits.--The 
        credit allowed by subsection (a) shall be taken into account 
        after taking into account the credits allowed by (or treated as 
        allowed by) this subpart (other than this section).
    ``(e) Inflation Adjustments.--
            ``(1) Credit limit.--In the case of any taxable year 
        beginning in a calendar year after 2023, the dollar amount in 
        subsection (a)(1) 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, determined by substituting 
                `calendar year 2012' for `calendar year 1992' in 
                subparagraph (B) thereof.
            ``(2) AGI thresholds.--In the case of any taxable year 
        beginning in a calendar year after 2013, each of the dollar 
        amounts in clauses (i) and (ii) of subsection (b)(2)(B) 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, determined by substituting 
                `calendar year 2012' for `calendar year 1992' in 
                subparagraph (B) thereof.
            ``(3) Rounding.--
                    ``(A) Credit limit.--If any increase under 
                paragraph (1) is not a multiple of $10, such increase 
                shall be rounded to the next lowest multiple of $10.
                    ``(B) AGI thresholds.--If any increase under 
                paragraph (1) is not a multiple of $100, such increase 
                shall be rounded to the next lowest multiple of $100.
    ``(f) Regulations.--Not later than 12 months from date of enactment 
of this section, the Secretary shall issue such regulations or other 
guidance as the Secretary determines necessary or appropriate to carry 
out this section, including regulations or guidance--
            ``(1) to ensure that designated savings products are 
        subject to appropriate reporting requirements, including the 
        reporting of contributions and other deposits during the 
        calendar year, end of calendar year account balances, and 
        earnings from designated savings products specified in 
        paragraphs (4), (5), (6), and (7) of subsection (c),
            ``(2) to carry out the maintenance of deposit provisions 
        under subsection (d)(2), and
            ``(3) to prevent avoidance of the purposes of this 
        subsection.''.
    (b) Conforming Amendments.--
            (1) Section 1324(b)(2) of title 31, United States Code, is 
        amended by inserting ``36D,'' after ``36B,''.
            (2) The table of sections for subpart C of part IV of 
        subchapter A of chapter 1 of the Internal Revenue Code of 1986 
        is amended by inserting after the item relating to section 36C 
        the following new item:

``Sec. 36D. Financial security credit.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2013.

SEC. 4. OPENING OF ACCOUNTS ON FEDERAL INCOME TAX RETURNS TO FACILITATE 
              SAVINGS.

    (a) Notification of Option.--
            (1) In general.--The Commissioner of Internal Revenue shall 
        notify individuals who may qualify for a credit under section 
        36D of the Internal Revenue Code of 1986 but fail to provide 
        sufficient information to allow the Secretary to deposit or 
        contribute the credit amount to a designated savings product 
        that they have the option of an electronic direct deposit and 
        that they may be eligible for the financial security credit 
        under section 36D of the Internal Revenue Code of 1986 if they 
        deposit a refund or a portion of their refund in any designated 
        savings product.
            (2) Method of notification.--The notification under 
        paragraph (1) shall be made through--
                    (A) a public awareness program undertaken by the 
                Secretary of the Treasury, in concert with the 
                Commissioner of the Internal Revenue and others as 
                necessary, beginning not later than 6 months after the 
                date of the enactment of this Act;
                    (B) tax return preparers and low-income taxpayer 
                clinics; and
                    (C) the inclusion of such a notice in the 
                instruction material for any Federal income tax return.
    (b) Establishment of Designated Account Program.--The Secretary of 
the Treasury shall develop, in consultation with the Federal Management 
System, a program to minimize the delivery of non-electronic Federal 
income tax refunds by depositing refunds electronically to a safe, low-
cost account held by a depository institution. This program shall 
include--
            (1) provisions for such tax refunds to be deposited into a 
        designated account;
            (2) establishment of account parameters with respect to 
        minimum balance requirements, limitations on overdrafts, 
        overdraft fees, other fees, and additional requirements;
            (3) establishment of means for the taxpayer to access the 
        account electronically and to have timely, direct access to the 
        funds in the account; and
            (4) provisions to allow taxpayers to open an account with 
        their Federal income tax refunds through financial service 
        providers, so long such account is held at a depository 
        institution insured under the Federal Deposit Insurance Act or 
        a credit union insured under the Federal Credit Union Act.
    (c) Effective Date.--The notification under subsection (a) and the 
program under subsection (b) shall be effective with respect to Federal 
income tax returns for taxable years beginning after December 31, 2013.
[EX A]:
Financial Security Credit Act of 2013 - Amends the Internal Revenue Code to allow an income-based tax credit equal to the lesser of $500 or 50% of the total amount deposited or contributed into designated savings products in a taxable year. Defines &quot;designated savings products&quot; as a qualified retirement plan, a qualified tuition plan, a Coverdell education savings account, a U.S. savings bond, a certificate of deposit with a duration of at least 8 months, a savings account, or other savings product considered appropriate by the Secretary of the Treasury. Directs the Internal Revenue Service (IRS) to notify individual taxpayers who may qualify for a savings product tax credit that they have the option of an electronic direct deposit of any portion of their tax refund into a designated savings product.