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 ``Marine Renewable Energy Promotion 
Act of 2009''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Fund.--The term ``Fund'' means the Adaptive Management 
        and Environmental Fund established by section 3(c).
            (2) Marine renewable energy.--The term ``marine renewable 
        energy'' means energy from--
                    (A) waves, tides, and currents in oceans, 
                estuaries, and tidal areas;
                    (B) free flowing water in rivers, lakes, man made 
                channels, and streams; and
                    (C) differentials in ocean temperature or ocean 
                thermal energy conversion.
            (3) Secretary.--The term ``Secretary'' means the Secretary 
        of Energy.

SEC. 3. MARINE RENEWABLE ENERGY RESEARCH AND DEVELOPMENT.

    (a) Research and Development Program.--
            (1) In general.--The Secretary shall establish a marine 
        renewable energy research and development program that is 
        focused on--
                    (A) developing new marine renewable energy 
                technologies;
                    (B) reducing the manufacturing and operation costs 
                of marine renewable energy technologies;
                    (C) increasing the reliability and survivability of 
                marine renewable energy facilities;
                    (D) integrating marine renewable energy into the 
                national electric grid;
                    (E) identifying opportunities for cross-pollination 
                and development of economies of scale between offshore 
                wind and marine renewable energy sources;
                    (F) identifying the environmental impacts of marine 
                renewable energy and ways to address any negative 
                impacts; and
                    (G)(i) applying advanced systems engineering and 
                system integration methods to identify critical 
                interfaces and develop open standards for marine 
                renewable energy;
                    (ii) transferring the resulting intellectual 
                property to industry stakeholders as public information 
                through published interface definitions, standards, and 
                demonstration projects; and
                    (iii) developing incentives for industry to comply 
                with the standards.
            (2) Administration.--The program established under 
        paragraph (1) shall be separate from any wind and hydropower 
        program carried out by the Secretary.
    (b) Marine-Based Energy Device Verification Program.--
            (1) Establishment.--The Secretary shall establish a marine-
        based energy device verification program to provide a bridge 
        from the wave, tidal, current, or thermal energy capture device 
        design and development efforts underway across the industry to 
        commercial deployment of marine renewable energy devices.
            (2) Purposes.--The purposes of the program are to fund, 
        facilitate the development and installation of, and evaluate 
        marine renewable energy projects, in partnership with the 
        Electric Power Research Institute, the National Renewable 
        Energy Laboratory, the Pacific Northwest National Laboratory 
        Marine Sciences Laboratory, and the Sandia National 
        Laboratories, and in conjunction with universities and other 
        institutions of higher education, private business entities, 
        and other appropriate organizations, in order--
                    (A) to increase marine renewable energy experience; 
                and
                    (B) to build and operate enough candidate devices 
                to obtain statistically significant operating and 
                maintenance data.
            (3) Objectives.--The objectives of the program include--
                    (A) verifying the performance, reliability, 
                maintainability, and cost of new marine renewable 
                energy device designs and system components in an 
                operating environment;
                    (B) providing States, regulators, utilities, and 
                other stakeholders with a valid opportunity to test and 
                evaluate marine renewable energy technology in new 
                areas;
                    (C) documenting and communicating the experience 
                from those projects for the benefit of utilities, 
                independent power producers, other nonutility 
                generators, device suppliers, and others in the marine 
                renewable energy development community; and
                    (D) resolving environmental issues through robust 
                characterization, reliable impact prediction, effective 
                monitoring, development and use of adaptive management, 
                and informing engineering design to improve 
                environmental performance.
    (c) Adaptive Management and Environmental Fund.--
            (1) Findings.--Congress finds that--
                    (A) the use of marine renewable energy technologies 
                can reduce contributions to global warming;
                    (B) marine renewable energy technologies can be 
                produced domestically;
                    (C) marine renewable energy is a nascent industry; 
                and
                    (D) the United States must work to promote new 
                renewable energy technologies that reduce contributions 
                to global warming gases and improve domestic energy 
                production.
            (2) Fund.--
                    (A) Establishment.--There is established in the 
                Treasury of the United States a revolving fund, to be 
                known as the ``Adaptive Management and Environmental 
                Fund'', consisting of such amounts as are appropriated 
                to the Fund under subsection (d).
                    (B) Expenditures from fund.--
                            (i) In general.--Subject to clause (ii), on 
                        request by the Secretary, the Secretary of the 
                        Treasury shall transfer from the Fund to the 
                        Secretary such amounts as the Secretary 
                        determines are necessary to provide grants to 
                        eligible entities to assist the entities in 
                        complying with Federal, State, or local 
                        regulatory permit requirements through 
                        assessment and demonstration of the 
                        environmental effects of marine renewable 
                        energy projects (including environmental 
                        studies, design, fabrication, deployment, 
                        operating, monitoring, environmental 
                        mitigation, and decommissioning costs).
                            (ii) Administrative expenses.--An amount 
                        not exceeding 10 percent of the amounts in the 
                        Fund shall be available for each fiscal year to 
                        pay the administrative expenses necessary to 
                        carry out this subsection.
                    (C) Transfers of amounts.--
                            (i) In general.--The amounts required to be 
                        transferred to the Fund under this paragraph 
                        shall be transferred at least monthly from the 
                        general fund of the Treasury to the Fund on the 
                        basis of estimates made by the Secretary of the 
                        Treasury.
                            (ii) Adjustments.--Proper adjustment shall 
                        be made in amounts subsequently transferred to 
                        the extent prior estimates were in excess of or 
                        less than the amounts required to be 
                        transferred.
            (3) Eligibility.--
                    (A) In general.--To be eligible for a grant under 
                this subsection, an entity shall provide to the 
                Secretary a regulatory permit that includes conditions 
                for the removal of the marine renewable energy project 
                supported by the grant if the permitting authority 
                finds that the marine renewable energy project has an 
                unacceptable adverse impact on the environment.
                    (B) Administration.--A marine renewable energy 
                project shall not be required to be removed in the 
                absence of a finding by the permitting authority that 
                the project has an unacceptable adverse impact.
            (4) Public availability.--The results of any assessment or 
        demonstration conducted under this subsection shall be made 
        available to the public, except to the extent that the 
        assessment or demonstration contains information that is 
        protected from disclosure under section 552(b) of title 5, 
        United States Code.
            (5) Audit requirements.--
                    (A) In general.--Any entity that receives a grant 
                under this subsection shall--
                            (i) track the use of grant funds from the 
                        Fund; and
                            (ii) certify annually to the Secretary that 
                        the grant funds were used only for purposes 
                        authorized under this subsection.
                    (B) Procedures.--The Secretary shall establish 
                procedures to ensure that the Secretary is able to 
                oversee and audit the use of funds by eligible 
                entities.
                    (C) Annual audits.--The Secretary shall conduct an 
                audit, at least annually, of the use of grant funds 
                received under this subsection by each eligible entity.
                    (D) Ineligibility.--The Secretary may declare an 
                entity ineligible for a grant under this subsection on 
                a finding of inappropriate use of funding.
            (6) Sunset provision.--
                    (A) Report.--The Secretary shall submit a report to 
                the appropriate committees of Congress if the Secretary 
                determines that the technologies and activities 
                supported under this subsection have achieved a level 
                of maturity that is sufficient to enable the program 
                authorized under this subsection to cease.
                    (B) Termination.--The program authorized under this 
                subsection and the Fund shall cease to exist effective 
                on the date of submission of a report described in 
                subparagraph (A).
            (7) Administration.--The Secretary may use amounts in the 
        Fund to provide assistance to State resource agencies that are 
        processing applications for permits required for marine 
        renewables projects that have received assistance from the Fund 
        to assist staff with understanding and evaluating applications 
        and participating in the applicable Federal Energy Regulatory 
        Commission or Minerals Management Service regulatory process.
            (8) Environmental requirement.--Nothing in this section 
        eliminates or otherwise affects any requirement imposed under 
        the National Environmental Policy Act of 1969 (42 U.S.C. 4321 
        et seq.).
    (d) Authorization of Appropriations.--There is authorized to be 
appropriated to carry out this section $250,000,000 for each of fiscal 
years 2010 through 2021.
[EX A]: Marine Renewable Energy Promotion Act of 2009 - Requires the Department of Energy (DOE) to establish a marine renewable energy research and development program, separate from any DOE wind and hydropower program, focused on: (1) developing new marine renewable energy technologies; (2) reducing the manufacturing and operation costs of such technologies; (3) increasing the reliability and survivability of marine renewable energy facilities; (4) integrating marine renewable energy into the national electric grid; (5) identifying opportunities for cross pollination and development of economies of scale between offshore wind and marine renewable energy sources; (6) identifying the environmental impacts of marine renewable energy and ways to address negative impacts; (7) applying advanced systems engineering and system integration methods to identify critical interfaces and develop open standards for marine renewable energy; (8) transferring the resulting intellectual property to industry stakeholders as public information through published interface definitions, standards, and demonstration projects; and (9) developing incentives for industry to comply with such standards.

Requires DOE to establish a marine-based energy device verification program to provide a bridge from the wave, tidal, current, or thermal energy capture device design and development efforts underway across the industry to commercial deployment of marine renewable energy devices. Sets forth as purpose of the Program to fund, facilitate the development and installation of, and evaluate marine renewable energy projects, in partnership with the Electric Power Research Institute, the National Renewable Energy Laboratory, the Pacific Northwest National Laboratory Marine Sciences Laboratory, and the Sandia National Laboratories in order to: (1) increase marine renewable energy experience; and (2) build and operate enough candidate devices to obtain statistically significant operating and maintenance data.

Establishes an Adaptive Management and Environmental Fund to provide grants for complying with requirements through assessment and demonstration of the environmental effects of marine renewable energy projects.

[EX Q]: SECTION 1. MODIFICATIONS AND INCREASED VOLUME CAP WITH RESPECT TO 
              QUALIFIED MORTGAGE BONDS.

    (a) Use of Qualified Mortgage Bonds Proceeds for Subprime 
Refinancing Loans.--Section 143(k) of the Internal Revenue Code of 1986 
(relating to other definitions and special rules) is amended by adding 
at the end the following new paragraph:
            ``(12) Special rules for subprime refinancings.--
                    ``(A) In general.--In the case of a residence which 
                was originally financed by the mortgagor through a 
                qualified subprime loan, this section shall be applied 
                with the following modifications:
                            ``(i) Subsection (i)(1) (relating to 
                        mortgages must be new mortgages) shall not 
                        apply.
                            ``(ii) Subsection (a)(2)(D)(i) shall be 
                        applied by substituting `12-month period' for 
                        `42-month period' each place it appears.
                            ``(iii) Subsection (d) (relating to 3-year 
                        requirement) shall not apply.
                            ``(iv) Subsection (e) (relating to purchase 
                        price requirement) shall be applied by using 
                        the market value of the residence at the time 
                        of refinancing in lieu of the acquisition cost.
                    ``(B) Qualified subprime loan.--
                            ``(i) In general.--The term `qualified 
                        subprime loan' means an adjustable rate single-
                        family residential mortgage loan originated 
                        after December 31, 2001, and before January 1, 
                        2008, that the bond issuer determines has 
                        characteristics that suggest both a reasonably 
                        foreseeable risk of default and a reasonable 
                        potential to avoid default with the benefit of 
                        a lower cost refinancing.
                            ``(ii) Considerations.--In making the 
                        determination under clause (i), the bond issuer 
                        may consider the following characteristics:
                                    ``(I) Loan payments which are 
                                scheduled to increase by more than 10 
                                percent after December 31, 2007, and 
                                before January 1, 2011.
                                    ``(II) A loan-to-value ratio of 97 
                                percent or greater at the time of the 
                                original mortgage loan or at the time 
                                of the refinancing of such loan after 
                                adjustment for any decline in the fair 
                                market value of the residence.
                                    ``(III) A borrower whose 
                                creditworthiness is relatively low in 
                                comparison to a prime borrower, based 
                                on a lower credit score, such as a Fair 
                                Isaac Credit Organization credit score 
                                at the time of the original subprime 
                                loan of less than 660 and the absence 
                                of an increase in such score by more 
                                than 10 percent since the time of the 
                                original loan.
                                    ``(IV) Whether loan payments on the 
                                original mortgage loan generally have 
                                been made in a current, timely manner, 
                                subject only to isolated late payments.
                    ``(C) Termination.--This paragraph shall not apply 
                to any bonds issued after December 31, 2010.''.
    (b) Increased Volume Cap for Qualified Mortgage Bonds.--
            (1) In general.--Subsection (d) of section 146 of the 
        Internal Revenue Code of 1986 is amended by adding at the end 
        the following new paragraph:
            ``(5) Increase and set aside for qualified mortgage bonds 
        for 2008.--
                    ``(A) In general.--The State ceiling for calendar 
                year 2008 shall be increased by $15,000,000,000.
                    ``(B) Set aside.--
                            ``(i) In general.--Not less than an amount 
                        equal to each State's allocable share of the 
                        increase in the State ceiling under 
                        subparagraph (A) shall be allocated solely for 
                        the purpose of a qualified mortgage issue which 
                        meets the requirement clause (ii).
                            ``(ii) Requirement.--A qualified mortgage 
                        issue meets the requirement of this clause if 
                        such issue meets the requirement of section 
                        143(a)(2)(D)(i) (determined by substituting 
                        `12-month period' for `42-month period' each 
                        place it appears).''.
            (2) Carryforward of unused limitations.--Subsection (f) of 
        section 146 of such Code is amended by adding at the end the 
        following new paragraph:
            ``(6) Special rules for increased volume cap under 
        subsection (d)(5).--No amount which is attributable to the 
        increase under subsection (d)(5) may be used--
                    ``(A) for a carryforward purpose other than issuing 
                qualified mortgage bonds, and
                    ``(B) to issue any bond after calendar year 
                2010.''.
    (c) Alternative Minimum Tax.--
            (1) In general.--Clause (ii) of section 57(a)(5)(C) of the 
        Internal Revenue Code of 1986 is amended by striking ``shall 
        not include'' and all that follows and inserting ``shall not 
        include--
                                    ``(I) any qualified 501(c)(3) bond 
                                (as defined in section 145), or
                                    ``(II) any qualified mortgage bond 
                                (as defined in section 143(a)) or 
                                qualified veterans' mortgage bond (as 
                                defined in section 143(b)) issued after 
                                December 31, 2007, and before January 
                                1, 2011.''.
            (2) Conforming amendment.--The heading for section 
        57(a)(5)(C)(ii) is amended by striking ``qualified 501(c)(3) 
        bonds'' and inserting ``certain bonds''.
    (d) Effective Date.--The amendments made by this section shall 
apply to bonds issued after December 31, 2007.
[EX A]: Amends the Internal Revenue Code to: (1) allow proceeds of qualified mortgage bonds to be used to refinance certain residential subprime loans issued between 2002 and 2008; (2) increase in 2008 limitations on issuance amounts for qualified mortgage bonds; and (3) exempt tax-exempt interest on qualified mortgage or veterans' mortgage bonds issued before 2011 from the alternative minimum tax.

[EX Q]: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Rebuilding American Homeownership 
Act of 2013''.

SEC. 2. DEFINITIONS.

    In this Act, the following definitions shall apply:
            (1) Current borrower.--The term ``current borrower'' means 
        a mortgagor that--
                    (A) has made each payment on an eligible mortgage, 
                within the month in which the payment was due, during 
                the 6-month period preceding the date of refinancing of 
                the eligible mortgage under this Act; and
                    (B) has not been more than 30 days delinquent on an 
                eligible mortgage more than once during the 1-year 
                period preceding the date of refinancing of the 
                mortgage under this Act.
            (2) Director.--The term ``Director'' means the Director of 
        the Federal Housing Finance Agency.
            (3) Eligible mortgage.--The term ``eligible mortgage''--
                    (A) means any mortgage that--
                            (i) is an existing first mortgage--
                                    (I) that was made for purchase of, 
                                or refinancing of another first 
                                mortgage, on a 1- to 4-family owner-
                                occupied dwelling, including a 
                                condominium or a share in a cooperative 
                                ownership housing association; and
                                    (II) with a current loan-to-value 
                                ratio in excess of 80 percent, but not 
                                greater than 140 percent;
                            (ii) was originated on or before May 31, 
                        2009;
                            (iii) is not owned or guaranteed by an 
                        enterprise; and
                            (iv) with respect to which, the mortgagor 
                        is a current borrower; and
                    (B) does not include any mortgage that is insured 
                or guaranteed by any program of the Federal Housing 
                Administration, the Department of Housing and Urban 
                Development, the Government National Mortgage 
                Association, the Department of Agriculture, or the 
                Department of Veterans Affairs.
            (4) Enterprise.--The term ``enterprise'' means the Federal 
        National Mortgage Association and the Federal Home Loan 
        Mortgage Corporation.
            (5) Guarantee fee.--The term ``guarantee fee'' has the same 
        meaning as in section 1327(a) of the Housing and Community 
        Development Act of 1992 (12 U.S.C. 4547(a)).

SEC. 3. REFINANCING AUTHORITY.

    (a) Enterprise Refinancing Authority.--
            (1) Program.--Each enterprise shall establish and carry out 
        a program under this section to provide for the refinancing of 
        eligible mortgages.
            (2) Authority.--Notwithstanding any provision of the 
        Federal National Mortgage Association Charter Act (12 U.S.C. 
        1716 et seq.) and the Federal Home Loan Mortgage Corporation 
        Act (12 U.S.C. 1451 et seq.), in carrying out the refinancing 
        program required under paragraph (1), an enterprise may 
        purchase, guarantee, service, sell, lend on the security of, 
        refinance, or otherwise deal in eligible mortgages.
    (b) Implementation Authority.--
            (1) In general.--Subject to paragraph (2), each enterprise 
        may prescribe any requirements, terms, and conditions that such 
        enterprise determines necessary to carry out the refinancing 
        program required under subsection (a), including with respect 
        to any underwriting criteria, such as--
                    (A) verification of a borrower's employment, 
                income, reserves, and assets;
                    (B) a borrower's credit history;
                    (C) property valuation requirements;
                    (D) representations and warranties;
                    (E) eligible property type and occupancy 
                requirements; and
                    (F) continuation of the second-lien position, or 
                release, of any junior liens on the property.
            (2) Existing credit enhancements to be retained.--In order 
        to participate in the refinancing program required under 
        subsection (a), an eligible mortgage with existing credit 
        enhancement coverage must continue to maintain or otherwise 
        transfer such coverage to the new mortgage that is a result of 
        the refinancing of the eligible mortgage authorized by this 
        section.
            (3) Maximum term of the new mortgage.--The term of any new 
        mortgage that is a result of the refinancing of an eligible 
        mortgage authorized by this section shall not exceed 30 years.
            (4) Maximum loan amount.--The maximum original principal 
        obligation of any new mortgage that is a result of the 
        refinancing of an eligible mortgage authorized by this section 
        shall not exceed the limitation in law governing the maximum 
        original principal obligation on conventional mortgages that 
        may be purchased or guaranteed by an enterprise, as such law is 
        in effect on the date of the closing of the new mortgage.
    (c) Regulations.--The Director may issue any regulations, guidance, 
or directives necessary to carry out the refinancing program required 
under subsection (a).

SEC. 4. GUARANTEE FEES.

    (a) Requirement To Charge a Guarantee Fee.--Each enterprise shall 
charge a guarantee fee in connection with any guarantee of the timely 
payment of principal and interest on securities, notes, and other 
obligations based on or backed by eligible mortgages refinanced under 
this Act.
    (b) Amount.--
            (1) In general.--The amount of the guarantee fee required 
        to be charged by an enterprise pursuant to subsection (a) shall 
        be actuarially determined by the Director to cover the expected 
        risk of default on the pool of eligible mortgages refinanced 
        under this Act backing the security, note, or other obligation 
        to which the enterprises' guarantee applies.
            (2) Rule of construction.--In calculating the expected risk 
        of default pursuant to paragraph (1), the Director shall ensure 
        that any default probability assumptions used to model such 
        risk--
                    (A) are reasonable, including with respect to the 
                arrival rate of default and the magnitude risk of 
                default; and
                    (B) are not unduly weighted to cover historical 
                stress or crisis scenarios.
            (3) Prohibition on additional charges.--In determining the 
        amount of any guarantee fee required to be charged pursuant to 
        subsection (a), neither the Director nor an enterprise may 
        charge any additional fee, price adjustment, premium, or other 
        amount other than that which is determined in accordance with 
        paragraph (1).
            (4) Prohibition on offsets.--The Director shall prohibit an 
        enterprise from offsetting the cost of the guarantee fee 
        required to by charged pursuant to subsection (a) to mortgage 
        originators, borrowers, and investors by decreasing other 
        charges, fees, or premiums, or in any other manner.
    (c) Authority To Limit Offer of Guarantee.--The Director shall 
prohibit an enterprise from consummating any offer for a guarantee on 
any security, note, or other obligation based on or backed by eligible 
mortgages refinanced under this Act, if the guarantee is inconsistent 
with the requirements of this section.

SEC. 5. REPORTS.

    The Director shall include, in the annual report submitted to the 
Congress pursuant to section 1319B of the Federal Housing Enterprises 
Financial Safety and Soundness Act of 1992 (12 U.S.C. 4521), 
information on the use and impact of the program established under 
section 3. The information provided shall include--
            (1) a review and analysis of the effectiveness of the 
        program in--
                    (A) reducing the rate of mortgage default and 
                delinquency;
                    (B) preventing foreclosure; and
                    (C) supporting stable homeownership; and
            (2) any recommendations the Director considers appropriate 
        regarding the program.

SEC. 6. SUNSET.

    (a) Termination.--The provisions of this Act, and any program or 
authorities established or granted therein or derived therefrom, shall 
terminate on December 31, 2014.
    (b) Extension.--The Director, upon transmission of a written 
notification to Congress, may extend the authorities provided under 
this Act for a 1-year period.
[EX A]:
Rebuilding American Homeownership Act of 2013 - Requires the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (Government sponsored enterprises or GSEs) to establish a program to provide for the refinancing of eligible mortgages. Authorizes a GSE to purchase, guarantee, service, sell, lend on the security of, refinance, or otherwise deal in eligible mortgages in carrying out such program. Defines eligible mortgage as an existing first mortgage: (1) made for purchase of, or refinancing of another first mortgage, on a 1- to 4-family owner-occupied dwelling; (2) with a current loan-to-value ratio between 80% and 140%; (3) originated on or before May 31, 2009; and (4) not owned or guaranteed by a GSE. Requires the mortgagor to be a current borrower. Excludes from eligibility any mortgage insured or guaranteed by any program of the Federal Housing Administration (FHA), the Department of Housing and Urban Development (HUD), the Government National Mortgage Association (Ginnie Mae), the Department of Agriculture (USDA), or the Department of Veterans Affairs (VA). Requires that an eligible mortgage with existing credit coverage, in order to participate in the refinancing program, must continue to maintain or otherwise transfer such coverage to the new mortgage. Sets the maximum term of the new mortgage at 30 years, and the maximum original principal obligation at the legal limit for conventional mortgages a GSE may purchase or guarantee. Requires each GSE to charge a fee for any guarantee of the new mortgage.