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

Q: SECTION 1. AMENDMENTS TO UNITED STATES INSULAR POSSESSION PROGRAM.

    (a) Production Certificates.--The additional U.S. Note 5(h) to 
chapter 91 of the Harmonized Tariff Schedule of the United States is 
amended--
            (1) by amending subparagraphs (i) and (ii) to read as 
        follows:
``(i) In the case of each calendar quarter beginning after January 1, 
        2002, and before January 1, 2016, the Secretaries jointly, 
        shall:
        ``(A) verify for the preceding calendar quarter both the wages 
                paid by each producer to permanent residents of the 
                insular possessions (including the value of any fringe 
                benefits) and the total quantity and value of watches 
                produced in the insular possessions and imported into 
                the customs territory of the United States; and
        ``(B) issue to each producer (not later than 30 days after the 
                end of the calendar quarter) a certificate for the 
                applicable amount.
``(ii) For purposes of subparagraph (i), except as provided in 
        subparagraphs (iii) and (iv), the term `applicable amount' 
        means an amount equal to the sum of:
        ``(A) 90 percent of the producer's creditable wages (including 
                the value of any fringe benefits) on watch assembly 
                during the preceding calendar quarter (but only the 
                first 300,000 units per calendar year); plus
        ``(B) the applicable graduated declining percentage (determined 
                each year by the Secretaries) of the producer's 
                creditable wages (including the value of any fringe 
                benefits) on the assembly during the preceding calendar 
                quarter for units in excess of 300,000 that calendar 
                year, but not in excess of 750,000 that calendar year; 
                plus
        ``(C) the difference between the duties that would have been 
                due on the producer's watches (excluding digital 
                watches) imported into the customs territory of the 
                United States during the preceding quarter if they had 
                been imported from a country eligible for normal trade 
                relations subject to duty at the rates set forth in 
                column 1 under this chapter that were in effect on 
                January 1, 2001, and the duties that would have been 
                due on those watches if they had been imported from the 
                same country under the tariffs in effect for the 
                preceding calendar quarter.''; and
            (2) by amending subparagraph (v) to read as follows:
``(v)(A) Any certificate issued under subparagraph (i) shall entitle 
        the certificate holder to secure the refund of duties equal to 
        the face value of the certificate on watches, watch movements 
        and, with the exception of discrete cases, parts therefor 
        imported into the customs territory of the United States by the 
        certificate holder. Such refunds shall be made under 
        regulations issued by the Treasury Department. Not more than 5 
        percent of such refunds may be retained as a reimbursement to 
        the Customs Service for the administrative costs of making the 
        refunds. If the Secretary of the Treasury determines that there 
        is an insufficient level of duties from watch and watch-related 
        tariffs, the Secretary may authorize refunds of duties 
        collected on jewelry under chapter 71 or any other duties that 
        the Secretary determines are appropriate.
``(B) At the election of the certificate holder and upon making the 
        certification described in this clause, the Secretary of the 
        Treasury shall pay to the holder the face value of the 
        certificate, less the value of (1) any duty refund claimed by 
        the holder under the certificate, plus (2) a discount of not 
        more than 2 percent of the face value of the certificate, as 
        determined by the Secretary of the Treasury. A certificate 
        holder shall not be eligible for direct payment under this 
        clause unless the certificate holder certifies to the 
        Secretaries that the funds received will be reinvested or 
        utilized to support and continue employment in the Virgin 
        Islands.
``(C) The Secretary of the Treasury is authorized to make the payments 
        provided for in clause (B) from duties collected on watches, 
        watch movements and, with the exception of discrete cases, 
        parts therefor. If such duties are insufficient, the Secretary 
        of the Treasury is authorized to make those payments from 
        duties collected on jewelry under chapter 71 or any other 
        duties that the Secretary determines are appropriate.''.
    (b) Jewelry.--Additional U.S. Note to chapter 71 of the Harmonized 
Tariff Schedule of the United States is amended--
            (1) by redesignating paragraphs (b), (c), (d), and (e) as 
        paragraphs (c), (d), (e), and (f), respectively;
            (2) by inserting after paragraph (a) the following new 
        paragraph:
``(b) The 750,000 unit limitation in additional U.S. Note 5(h)(ii)(B) 
        to chapter 91 shall not apply to articles of jewelry subject to 
        this note.''; and
            (3) by striking paragraph (f), as so redesignated, and 
        inserting the following:
``(f) Notwithstanding any other provision of law, prior to February 9, 
        2004, any article of jewelry provided for in heading 7113 that 
        is assembled in the Virgin Islands, Guam, or American Samoa 
        shall be treated as a product of the Virgin Islands, Guam, or 
        American Samoa for purposes of this note and General Note 
        3(a)(iv) of this Schedule.''.

SEC. 2. EFFECTIVE DATE.

    The amendments made by this Act shall take effect on April 1, 2002, 
with respect to goods imported into the customs territory of the United 
States on or after January 1, 2002.

A: Amends the Harmonized Tariff Schedule of the United States to revise clock and watch provisions to require the Secretary of Commerce and the Secretary of the Interior, jointly, for each calendar quarter beginning after January 1, 2002, and before January 1, 2016, to: (1) verify for the preceding calendar quarter both the wages paid by each producer to permanent residents of the insular possessions (including the value of any fringe benefits) and the total quantity and value of watches produced there and imported into the U.S. customs territory; and (2) issue to each producer a certificate for the applicable amount.Directs the Secretary of the Treasury, at the election of the certificate holder, to pay to the holder the face value of the certificate, less the value of any duty refund claimed by the holder under the certificate, plus a discount of not more than two percent of the face value of the certificate as determined by the Secretary of the Treasury.
****
Q: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Stonewall National Historic Site 
Establishment Act''.

SEC. 2. FINDINGS AND PURPOSE.

    (a) Findings.--The Congress finds that--
            (1) the Stonewall National Historic Landmark in New York 
        City, designated in 2000, commemorates the site of the citizen 
        uprising of June 28-July 3, 1969, that inspired the modern 
        Lesbian, Gay, Bisexual, and Transgender (LGBT) civil rights 
        movement in America;
            (2) the Stonewall uprising became the major catalyst for 
        change in the self-awareness of the LGBT community, as well as 
        in the perception and acceptance of LGBT individuals within the 
        United States, and now represents to the Nation and the world 
        the struggle for LGBT civil rights; and
            (3) the Stonewall National Historic Landmark, within the 
        Greenwich Village Historic District, consists of the former 
        Stonewall Inn at 51-53 Christopher Street, that was raided by 
        police on June 28, 1969, as well as Christopher Park, 
        Christopher Street, Grove Street, Gay Street, Waverly Place, 
        Greenwich Avenue, Sixth Avenue, and West 10th Street between 
        Sixth Avenue and Seventh Avenue South, which are all associated 
        with the uprising.
    (b) Purpose.--The purposes of this Act are--
            (1) to help preserve, protect, and interpret the site of 
        the Stonewall uprising for the benefit of present and future 
        generations; and
            (2) to enhance understanding of the discrimination against 
        LGBT individuals that led to the Stonewall uprising and of the 
        ongoing struggle to achieve civil rights.

SEC. 3. DEFINITIONS.

    In this Act:
            (1) National historic site.--The term ``National Historic 
        Site'' means the Stonewall National Historic Site in New York 
        City, New York, authorized to be established as a unit of the 
        National Park System under section 4(a) of this Act.
            (2) Map.--The term ``Map'' means the map entitled 
        ``Stonewall National Historic Site, Proposed Boundary'', 
        numbered 668/129,921, and dated September 2015.
            (3) City of new york.--The term ``City'' means the 
        government of the City of New York in the State of New York.
            (4) Secretary.--The term ``Secretary'' means the Secretary 
        of the Interior.
            (5) State.--The term ``State'' means the State of New York.

SEC. 4. STONEWALL NATIONAL HISTORIC SITE.

    (a) Establishment.--
            (1) In general.--Subject to paragraph (2), there is 
        established in the State a unit of the National Park System to 
        be known as the ``Stonewall National Historic Site''.
            (2) Conditions for establishment.--The National Historic 
        Site shall not be established as a unit of the National Park 
        System until the date on which the Secretary has determined 
        that--
                    (A) the Secretary has acquired sufficient land or 
                an interest in land within the boundary of the National 
                Historic Site to constitute a manageable unit, as 
                determined by the Secretary; and
                    (B) the Secretary has entered into a written 
                agreement with the City, as authorized and described in 
                subsection (c).
    (b) Boundary.--
            (1) In general.--The boundary of the National Historic Site 
        shall be identical to the boundary of the Stonewall National 
        Historic Landmark, as generally depicted on the Map.
            (2) Availability of map.--The Map shall be available for 
        public inspection in the appropriate offices of the National 
        Park Service, Department of the Interior.
    (c) Agreement.--The Secretary is authorized to enter into an 
agreement with the City that delineates the respective roles and 
responsibilities of the National Park Service and the City in the 
operation, maintenance, and interpretation of the National Historic 
Site.
    (d) Publication of Notice.--Not later than 60 days after the date 
on which the conditions in subsection (a)(2) are satisfied, the 
Secretary shall publish in the Federal Register notice of the 
establishment of the National Historic Site as a unit of the National 
Park System.
    (e) Land Acquisition.--The Secretary is authorized to acquire by 
donation, purchase with donated or appropriated funds from a willing 
seller, or exchange--
            (1) lands or interests in land within the boundary of the 
        National Historic Site; and
            (2) lands or interests in land in the vicinity of the 
        National Historic Site for the purpose of providing park 
        administration and visitor service facilities, as determined by 
        the Secretary.
    (f) Administration.--
            (1) In general.--The Secretary shall administer the 
        National Historic Site in accordance with this Act and with the 
        laws generally applicable to units of the National Park System, 
        including--
                    (A) the National Park Service Organic Act (section 
                100101(a), chapter 1003, and sections 100751(a), 
                100752, 100753 and 102101 of title 54, United States 
                Code); and
                    (B) chapter 3201 of title 54, United States Code.
            (2) Cooperative agreements.--
                    (A) In general.--The Secretary may enter into 
                cooperative agreements with the State, City, units of 
                local government, organizations, or individuals to 
                further the purposes of this Act.
                    (B) Cost-sharing requirement.--
                            (i) Federal share.--The Federal share of 
                        the total cost of any activity carried out 
                        under this paragraph shall not exceed 50 
                        percent.
                            (ii) Form of non-federal share.--The non-
                        Federal share of the cost of carrying out an 
                        activity under this paragraph may be in the 
                        form of in-kind contributions or goods or 
                        services, fairly valued.
    (g) General Management Plan.--Not later than 3 years after the date 
on which funds are made available to carry out this section, the 
Secretary, in consultation with the City, shall prepare a general 
management plan for the National Historic Site in accordance with 
section 100502 of title 54, United States Code.

A: Stonewall National Historic Site Establishment Act This bill establishes the Stonewall National Historic Site in New York as a unit of the National Park System.  The boundary of the Historic Site shall be identical to that of the Stonewall National Historic Landmark.  The Department of the Interior may enter into an agreement with New York City, New York, delineating the respective roles and responsibilities of the National Park Service and New York City in operating, maintaining, and interpreting the Historic Site.  Interior shall prepare a general management plan for the Historic Site. 
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Q: SECTION 1. SHORT TITLE; FINDINGS.

    (a) Short Title.--This Act may be cited as the ``Taxing Speculators 
out of the Oil Market Act''.
    (b) Findings.--Congress finds the following:
            (1) The price of oil has risen and fallen dramatically over 
        the last decade without a clear connection to the laws of 
        supply and demand.
            (2) The price of a barrel of oil predictably stayed beneath 
        $20 a barrel of oil for decades. In the beginning of 1999, the 
        price was under $10 a barrel of oil, but since then the oil 
        market has been plagued by speculation and fluctuated wildly.
            (3) In late 2004, the price of oil exceeded $40 a barrel of 
        oil, up 400 percent in 5 years.
            (4) In late 2007, the price exceeded $80 a barrel of oil, 
        up 800 percent in 8 years.
            (5) In mid 2008, the price of oil peaked at $145 a barrel, 
        up 1,450 percent in under ten years.
            (6) The price of oil collapsed in 2008 to just over $30 a 
        barrel of oil.
            (7) By early 2011, the price of oil rebounded to almost 
        $115 per barrel of oil.
            (8) These large price swings coincide with drop in demand 
        since 2005. In 2010, the United States consumed 2.1 million 
        barrels of oil per day less than it did 6 years ago.
            (9) Many economists have attributed this irrational 
        behavior of the oil market to the large increase in speculative 
        trading in oil derivatives.
            (10) A transaction tax on speculative trading can deter 
        short-term speculation which will reduce the volatility and 
        price of oil.

SEC. 2. TAX ON TRANSACTIONS IN OIL FUTURES, OPTIONS, AND SWAPS.

    (a) In General.--Chapter 36 of the Internal Revenue Code of 1986 is 
amended by inserting after subchapter B the following new subchapter:

 ``Subchapter C--Tax on Transactions in Oil Futures, Options, and Swaps

``Sec. 4475. Tax on transactions in oil futures, options, and swaps.

``SEC. 4475. TAX ON TRANSACTIONS IN OIL FUTURES, OPTIONS, AND SWAPS.

    ``(a) Imposition of Tax.--
            ``(1) Futures.--There is hereby imposed a tax on each 
        covered transaction in an oil futures contract of 0.01 percent 
        of the value of the futures instruments involved in such 
        transaction.
            ``(2) Options.--There is hereby imposed a tax on each 
        covered transaction in an oil option of 0.01 percent of the 
        premium paid on the option for a futures instruments involved 
        in such transaction.
            ``(3) Swaps.--There is hereby imposed a tax on each covered 
        transaction in an oil swap of 0.01 percent of the value of the 
        underlying assets involved in such transaction for each year 
        until the swap contact maturity.
    ``(b) By Whom Paid.--
            ``(1) In general.--The tax imposed by this section shall be 
        paid by--
                    ``(A) the trading facility on which the transaction 
                occurs, or
                    ``(B) if such transaction does not occur on a 
                trading facility, by the buyer of the transaction.
            ``(2) Withholding if buyer not united states person.--See 
        section 1447 for withholding by seller if buyer is a foreign 
        person.
    ``(c) Exception for Commercial Traders.--The tax imposed by this 
section shall not apply to any transaction if--
            ``(1) either party to the transaction is--
                    ``(A) classified by the Commodity Futures Trading 
                Commission as a commercial trader with respect to oil, 
                or
                    ``(B) a financial institution acting on behalf of 
                such a party (but only if the financial institution 
                does not at any time acquire ownership of the 
                security), and
            ``(2) the transaction is a bona fide hedging transaction 
        (within the meaning of section 4a(c) of the Commodity Exchange 
        Act).
    ``(d) Definitions.--For purposes of this section--
            ``(1) Covered transaction.--The term `covered transaction' 
        means any purchase or sale of an oil futures contract, an oil 
        option or oil swap contract if--
                    ``(A) such purchase or sale on a trading facility 
                is located in the United States, or
                    ``(B) the purchaser or seller is a United States 
                person.
            ``(2) Oil futures contract.--The term `oil futures 
        contract' means any contract of sale of oil for future delivery 
        (within the meaning of the Commodity Exchange Act).
            ``(3) Oil option.--The term `oil option' means any option 
        on an oil futures transaction.
            ``(4) Oil swap contract.--The term `oil swap contract' 
        means any contract of sale of oil involving a swap.
            ``(5) Trading facility.--The term `trading facility' has 
        the meaning given to such term by the Commodity Exchange Act.
    ``(e) Administration.--The Secretary shall carry out this section 
in consultation with the Commodity Futures Trading Commission.''.
    (b) Withholding.--Subchapter A of chapter 3 of such Code is amended 
by adding at the end the following new section:

``SEC. 1447. WITHHOLDING OF TAX ON TRANSACTIONS IN OIL FUTURES, 
              OPTIONS, AND SWAPS.

    ``In the case of any acquisition of an oil futures contract, an oil 
option, or an oil swap contract (as such terms are defined in section 
4475) by a foreign person, the transferor shall be required to deduct 
and withhold a tax equal to the tax which would be imposed on such 
acquisition under section 4475 if the transferee were a United States 
person.''.
    (c) Clerical Amendments.--
            (1) The table of subchapters for chapter 36 of such Code is 
        amended by inserting after the item relating to subchapter B 
        the following new item:

   ``subchapter c. tax on transactions in oil futures, options, and 
                               swaps.''.

            (2) The table of sections for subchapter A of chapter 3 of 
        such Code is amended by adding at the end the following new 
        section:

``Sec. 1447. Withholding of tax on transactions in oil futures, 
                            options, and swaps.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to transactions occurring on or after 90 days after the date of 
the enactment of this Act.

SEC. 3. AVAILABILITY TO THE COMMODITY FUTURES TRADING COMMISSION OF 
              REVENUE FROM TAXES ON TRANSACTIONS IN OIL FUTURES, 
              OPTIONS, AND SWAPS.

    The Commodity Exchange Act (7 U.S.C. 1 et seq.) is amended by 
inserting after section 10 the following:

``SEC. 11. AVAILABILITY TO THE COMMISSION OF REVENUE FROM TAXES ON 
              TRANSACTIONS IN OIL FUTURES, OPTIONS, AND SWAPS.

    ``(a) Tax Revenue Deposited as Offsetting Collections to CFTC 
Appropriations Account.--All taxes collected pursuant to sections 4475 
and 1447 of the Internal Revenue Code of 1986 for any fiscal year shall 
be deposited and credited as offsetting collections to the account 
providing appropriations to the Commission.
    ``(b) Use of Unexpended Funds for Public Debt Reduction.--Any 
amount credited under paragraph (1) that remains unexpended as of the 
end of any fiscal year shall be transferred to the Treasury and used to 
reduce the public debt of the United States.''.

SEC. 4. DUTIES OF COMMODITY FUTURES TRADING COMMISSION.

    The Commodity Futures Trading Commission (referred to in this 
section as the ``Commission'') shall use the authority of the 
Commission, including the emergency authority of the Commission--
            (1) to subject each bank holding company (as defined in 
        section 2(a) of the Bank Holding Company Act of 1956) that 
        engages in trading subject to section 4475 of the Internal 
        Revenue Code of 1986, and each hedge fund (as defined in 
        section 13(h)(2) of the Bank Holding Company Act of 1956) that 
        buys or sells a contract of sale of oil for future delivery 
        (within the meaning of the Commodity Exchange Act) for its own 
        account or on behalf of a third party, to the rules applicable 
        to noncommercial participants in the markets for the contracts; 
        and
            (2) to revoke immediately each staff no-action letter that 
        covers a foreign board of trade that--
                    (A) has established a trading terminal in the 
                United States for the purpose of selling the contracts 
                to, or buying the contracts from, United States 
                investors; and
                    (B) engages in trading subject to such section 
                4475.

A:
Taxing Speculators out of the Oil Market Act - Amends the Internal Revenue Code to: (1) impose an 0.01% excise tax on transactions in oil futures, options, and swaps, to be paid by the trading facility on which the transactions occur or by the buyer of the transaction; and (2) require withholding of such tax if the buyer is a foreign person. Exempts from such tax certain commercial oil traders and bona fide hedging transactions.

Amends the Commodity Exchange Act to credit tax revenues from this Act as offsetting collections to appropriations to the Commodity Futures Trading Commission (CFTC). Requires any unexpended amounts to be used to reduce the public debt.

Requires the CFTC to: (1) subject each bank holding company that engages in trading in oil futures, options, and swaps, and each hedge fund that buys or sells a contract of sale of oil for future delivery, to the rules applicable to noncommercial participants in the markets for the contracts; and (2) revoke immediately each staff no-action letter that covers a foreign board of trade that has established a trading terminal in the United States for selling contracts to or from U.S. investors and engages in trading in oil futures, options, and swaps.
****