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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``One Dollar Coin and Community 
Development Act of 1994''.

SEC. 2. ONE DOLLAR COINS.

    (a) Color and Content.--Section 5112(b) of title 31, United States 
Code, is amended--
            (1) in the 1st sentence, by striking ``dollar,''; and
            (2) by inserting after the 4th sentence, the following new 
        sentence: ``The dollar coin shall be golden in color, have an 
        unreeded edge, have tactile and visual features that make the 
        denomination of the coin readily discernible, be minted and 
        fabricated in the United States, and have such metallic, 
        anticounterfeiting properties as United States clad coinage in 
        circulation on the date of the enactment of the One Dollar Coin 
        and Community Development Act of 1994.''.
    (b) Design of Dollar Coin.--Section 5112(d)(1) of title 31, United 
States Code, is amended by striking the 5th and 6th sentences and 
inserting the following new sentence: ``The Secretary of the Treasury 
shall select an appropriate design for the obverse side of the 
dollar.''.
    (c) Effective Date.--Not later than 18 months after the date of 
enactment of this Act, the Secretary of the Treasury shall place into 
circulation 1 dollar coins authorized under subsection (a)(1) of 
section 5112 of title 31, United States Code, which comply with the 
design requirements of subsections (b) and (d)(1) of such section, as 
amended by subsections (a) and (b) of this section. The Secretary may 
include such coins in any numismatic set produced by the United States 
Mint before the date the coins are placed in circulation.

SEC. 3. CEASING ISSUANCE OF ONE DOLLAR NOTES.

    (a) In General.--After the date that coins described in section 
2(c) are first placed in circulation, no Federal reserve bank may order 
or place into circulation any $1 Federal reserve note.
    (b) Redemption of $1 Notes.--
            (1) In general.--Section 5119(b)(1) of title 31, United 
        States Code, is amended by adding at the end the following new 
        subparagraph:
                    ``(F) Federal reserve notes in the denomination of 
                $1.''.
            (2) Effective date.--
                    (A) In general.--The amendment made by paragraph 
                (1) shall take effect on the date on which coins minted 
                pursuant to the amendments made by section 2 are first 
                placed in circulation.
                    (B) Notice of effective date.--The Secretary of the 
                Treasury shall publish a notice in the Federal Register 
                of the date on which the amendment made by paragraph 
                (1) takes effect in accordance with subparagraph (A) of 
                this paragraph.
    (c) Exception.--The Secretary of the Treasury shall produce only 
such Federal reserve notes of 1 dollar denomination as are required 
from time to time to meet the needs of collectors of this series. Such 
notes shall be produced in sheets and sold by the Secretary, in whole, 
or in part, at a price that exceeds the face value of the currency by 
an amount that, at a minimum, reimburses the Secretary for the cost of 
production.

SEC. 4. RESERVE FUND FOR CIRCULATING COINAGE.

    (a) Establishment.--Section 5111(b) of title 31, United States 
Code, is amended to read as follows:
    ``(b) Coinage Funds.--
            ``(1) Coinage metal fund.--The Secretary of the Treasury--
                    ``(A) shall maintain a coinage metal fund in the 
                Department of the Treasury; and
                    ``(B) may use the fund to buy metal to mint coins.
            ``(2) Circulating coinage reserve fund.--
                    ``(A) Establishment.--The Secretary of the Treasury 
                shall maintain a circulating coinage reserve fund in 
                the Department of the Treasury.
                    ``(B) Credits and debits.--The Secretary shall--
                            ``(i) credit the coinage reserve fund with 
                        the amount by which the nominal value of the 
                        coins minted and placed into circulation under 
                        this subchapter (other than numismatic items) 
                        exceeds the cost of the metal; and
                            ``(ii) charge the account with--
                                    ``(I) the waste incurred in minting 
                                the coins referred to in clause (i); 
                                and
                                    ``(II) the cost of distributing the 
                                coins, including the cost of coin bags 
                                and pallets.
                    ``(C) Availability of funds for community 
                development.--
                            ``(i) In general.--Effective for any fiscal 
                        year only to the extent and in such amounts as 
                        are provided in advance in appropriation Acts, 
                        the Secretary may lend excess amounts in the 
                        circulating coinage reserve fund to the 
                        Community Development Institutions Fund for the 
                        provision of financial assistance by such Fund 
                        through deposits, credit union shares, and 
                        loans in accordance with section 108 of the 
                        Community Development Banking and Financial 
                        Institutions Act of 1994.
                            ``(ii) Terms and conditions.--Any loan by 
                        the Secretary to the Community Development 
                        Institutions Fund in accordance with clause (i) 
                        shall bear such rate of interest and be subject 
                        to such other terms and conditions as the 
                        Secretary determines to be appropriate.
                    ``(D) Investment of balance in account.--Subject to 
                subparagraph (C), the Secretary of the Treasury shall 
                invest excess amounts in the circulating coinage 
                reserve fund in--
                            ``(i) instruments issued by the Secretary 
                        under chapter 31; and
                            ``(ii) other instruments to the extent, and 
                        in such amounts, as may be authorized by law.
                    ``(E) Payment to general fund.--Interest, 
                dividends, and other earnings on investments of the 
                circulating coinage reserve fund, including interest on 
                loans to the Community Development Financial 
                Institutions Fund, shall be paid into the general fund 
                of the Treasury to assist in reducing the deficit.''.
    (b) Termination of Coinage Profit Fund.--The coinage profit fund is 
hereby abolished and any balance in the account as of such termination 
shall be transferred by the Secretary to the circulating coinage 
reserve fund established pursuant to the amendment made by subsection 
(a) as soon as practicable after the date of the enactment of this Act.
One Dollar Coin and Community Development Act of 1994 - Amends Federal monetary law to prescribe specifications for and design of dollar coins, including a golden color. 
Proscribes any issuance of one dollar notes after the date that dollar coins are first placed in circulation.  Prescribes guidelines for the redemption of one dollar notes. 
Directs the Secretary of the Treasury to establish:  (1) a coinage metal fund; and (2) a circulating coinage reserve fund. 
Authorizes the Secretary to lend excess amounts in the circulating coinage reserve fund to the Community Development Institutions Fund to enable it to provide financial assistance.  Mandates that earnings on investments of the circulating coinage reserve fund be paid into the general fund of the Treasury. 
Abolishes the coinage profit fund.  Transfers the balance of its account to the circulating coinage reserve fund.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Hood Bay Land Exchange Act of 
1997''.

SEC. 2. FINDINGS.

    The Congress makes the following findings:
        (1) The Alaska National Interest Lands Conservation Act 
    established the Admiralty Island National Monument which is managed 
    by the Secretary of Agriculture, by and through the Forest Service.
        (2) The Forest Service has established a policy of encouraging 
    the acquisition of private land inholdings within Admiralty Island 
    National Monument on a willing buyer/willing seller basis. Congress 
    has supported this policy, for example by passage of the Greens 
    Creek Land Exchange Act of 1996 which provided for a land exchange 
    of certain public and private lands in Admiralty Island National 
    Monument.
        (3) Lands owned by Alaska Pulp Corporation, consisting of 54 
    acres, more or less, located in Hood Bay on Admiralty Island within 
    the boundaries of the Kootznoowoo Wilderness are available for 
    transfer to Federal ownership on a willing seller/willing buyer 
    basis. The acquisition of these lands would provide Federal 
    ownership of this valuable land in a critical area of Admiralty 
    Island National Monument.
        (4) The United States is the owner of certain reversionary 
    interests to 143.87 acres, more or less, located adjacent to Silver 
    Bay near Sitka, Alaska, which interests were reserved in patent No. 
    1213671 issued to the Alaska Pulp Corporation on October 18, 1960. 
    The transfer of the reversionary interests of the United States in 
    such lands adjacent to Silver Bay to the Alaska Pulp Corporation 
    would facilitate future use and development of that land.
        (5) The future acquisition by the United States of the Chaik 
    Bay property on Admiralty Island to be incorporated into the 
    Kootznoowoo Wilderness would be in the public interest.

SEC. 3. DEFINITIONS.

    As used in this Act:
        (1) The term ``ANILCA'' means the Alaska National Interest 
    Lands Conservation Act (16 U.S.C. 3101 et seq.).
        (2) The term ``Company'' means the Alaska Pulp Corporation, an 
    Alaska corporation, its successors, and assigns.
        (3) The term ``Company Property'' means the property depicted 
    on United States Survey Plat 1058 approved March 20, 1917, 
    consisting of approximately 54 acres of land.
        (4) The term ``Federal Property'' means the reversionary 
    interest of the United States described in paragraphs (6) and (7) 
    of the patent dated October 18, 1960, granted by the Bureau of Land 
    Management to Alaska Lumber & Pulp Co., which was recorded at Book 
    15, Pages 271-273, Sitka Recording District on November 9, 1960. 
    The term ``Federal Property'' does not include the interests 
    described in paragraphs (1) through (5) of the said patent.
        (5) The term ``Monument'' means the Admiralty Island National 
    Monument, which was established by section 503 of ANILCA and which 
    is managed by the Secretary of Agriculture as a unit of the 
    National Forest System.
        (6) The term ``Secretary'' means the Secretary of Agriculture.
        (7) The term ``Sitka'' means the city and borough of Sitka, 
    Alaska, a home-rule borough formed in accordance with the laws of 
    the State of Alaska.
        (8) The term ``Sitka Property'' means the property depicted on 
    the maps entitled ``Sitka Property'', dated August 29, 1997, 
    consisting of approximately 49 acres of land.

SEC. 4. LAND EXCHANGE, TRANSFER, RELINQUISHMENT.

    (a) Exchange of Company and Federal Property.--After the Company 
conveys to the United States, by general warranty deed, all right, 
title, and interest of the Company in and to the Company Property, the 
Secretary shall within 60 days of acceptance of delivery of said deed, 
unconditionally and without limitation except as provided herein, 
relinquish to the Company all right, title, and interest of the United 
States in and to the Federal Property and shall evidence that 
relinquishment by conveying to the Company a quitclaim deed to the 
Federal Property.
    (b) Relinquishment of Property to Sitka.--Upon relinquishment of 
the Federal Property to the Company under subsection (a), the Company 
shall transfer all right, title, and interest of the Company in the 
Sitka Property to Sitka.
    (c) Availability of Maps.--The maps referred to in section 3(3) 
depicting the Company Property and in section 3(4) depicting the 
Federal Property shall be on file and available for public inspection 
in the Office of the Forest Supervisor, Chatham Area, Tongass National 
Forest, in Sitka, Alaska. The maps referred to in section 3(8) 
depicting the Sitka Property shall be on file and available for public 
inspection in the Office of the Manager of the city and borough of 
Sitka, Alaska, until the conveyance described in subsection (b), at 
which time the maps shall be recorded along with the deed.

SEC. 5. PROCESSING OF AND TERMS AND CONDITIONS RELATING TO LAND 
              EXCHANGE.

    (a) Surveys.--Notwithstanding any other provision of law, the 
Secretary of the Interior may conduct and approve all cadastral surveys 
that are necessary for completion of the exchange. The cost of any 
surveys shall be borne by the Company.
    (b) Equal Value Exchange.--The values of the Federal Property and 
the Company Property are deemed to be of equal value.
    (c) Administration.--The Secretary is directed to implement and 
administer the rights and obligations of the United States under this 
Act.
    (d) Cleanup Obligations.--Nothing in this Act shall impact or alter 
the Company's rights, duties, and obligations regarding investigation, 
remediation, cleanup, and restoration under its September 10, 1995, 
Commitment Agreement with the State of Alaska or other applicable law. 
The Company shall use its property consistent with all restrictive 
covenants, including those restrictive covenants recorded on September 
4, 1997.
    (e) Title Standards.--Title to the Company Property to be conveyed 
to the United States shall be acceptable to the Secretary consistent 
with the title review standard of the Attorney General of the United 
States.

SEC. 6. GENERAL PROVISIONS.

    (a) Management of Company Property.--Upon acquisition of the 
Company Property by the United States pursuant to this Act, said 
property shall be managed as a part of the Admiralty Island National 
Monument and the Kootznoowoo Wilderness.
    (b) Authorization To Negotiate for Acquisition of Property.--In 
furtherance of the purposes of the Kootznoowoo Wilderness, the 
Secretary, acting through the Forest Service, is authorized to enter 
into negotiations with the owners of private property in Chaik Bay on 
Admiralty Island, with the objective of acquiring such property. The 
Secretary is authorized to enter into an option to purchase or an 
exchange agreement with the owners of such property to be effected 
either through existing administrative mechanisms provided by law and 
regulation, or by subsequent ratification by Act of Congress.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.
Hood Bay Land Exchange Act of 1997 - Provides for:  (1) the relinquishment, by quitclaim deed, of the reversionary interest of the United States in specified Federal land in Sitka, Alaska, to the Alaska Pulp Corporation in exchange, by general warranty deed, for specified Corporation property located within the Admiralty Island National Monument; and (2) the Corporation's transfer of specified property to Sitka. Deems the values of the Federal Property and the Corporation's Property to be equal. States that nothing in this Act shall impact or alter the Corporation's rights, duties, and obligations regarding investigation, remediation, cleanup, and restoration under its September 10, 1995, Commitment Agreement with the State of Alaska or other applicable law. Requires the Corporation Property acquired by the United States to be managed as a part of the Admiralty Island National Monument and the Kootznoowoo Wilderness. Authorizes the Secretary of Agriculture, acting through the Forest Service, to negotiate with the owners of private property in the Chaik Bay on Admiralty Island, with the objective of acquiring such property. Allows the Secretary to enter into an option to purchase or an exchange agreement with such property owners to be effected either through existing administrative mechanisms provided by law and regulation, or by subsequent ratification by Act of Congress.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Consumer Windfall Excess Oil Profits 
Protection Act of 2005''.

SEC. 2. WINDFALL PROFITS TAX ON CRUDE OIL, NATURAL GAS, AND PRODUCTS 
              THEREOF.

    (a) In General.--Subtitle E of the Internal Revenue Code of 1986 
(relating to alcohol, tobacco, and certain other excise taxes) is 
amended by adding at the end thereof the following new chapter:

``CHAPTER 56--WINDFALL PROFITS ON CRUDE OIL, NATURAL GAS, AND PRODUCTS 
                                THEREOF

``Sec. 5896. Imposition of tax.
``Sec. 5897. Windfall profit; etc.
``Sec. 5898. Special rules and definitions.

``SEC. 5896. IMPOSITION OF TAX.

    ``In addition to any other tax imposed under this title, there is 
hereby imposed on every taxpayer an excise tax in an amount equal to 50 
percent of the windfall profit for any taxable year from--
            ``(1) sales of any crude oil, natural gas, or other taxable 
        product thereof, and
            ``(2) net gains from transactions of an interest the price 
        of which is determined in whole or in part by reference to the 
        price of crude oil, natural gas, or other taxable product 
        thereof.

``SEC. 5897. WINDFALL PROFIT; ETC.

    ``(a) General Rule.--For purposes of this chapter, the term 
`windfall profit' means the excess of--
            ``(1) the adjusted taxable income of the taxpayer for the 
        taxable year, over
            ``(2) the reasonably inflated average profit for such 
        taxable year.
    ``(b) Adjusted Taxable Income.--For purposes of this chapter, with 
respect to any taxpayer, the adjusted taxable income for any taxable 
year is equal to the taxable income for such taxable year (within the 
meaning of section 63 and determined without regard to this 
subsection)--
            ``(1) increased by any interest expense deduction, 
        charitable contribution deduction, and any net operating loss 
        deduction carried forward from any prior taxable year, and
            ``(2) reduced by any interest income, dividend income, and 
        net operating losses to the extent such losses exceed taxable 
        income for the taxable year.
 In the case of any taxpayer which is a foreign corporation, the 
adjusted taxable income shall be determined with respect to such income 
which is effectively connected with the conduct of a trade or business 
in the United States.
    ``(c) Reasonably Inflated Average Profit.--For purposes of this 
chapter, with respect to any applicable taxpayer, the reasonably 
inflated average profit for any taxable year is an amount equal to the 
average of the adjusted taxable income of such taxpayer for taxable 
years beginning during the 2000-2004 taxable year period (determined 
without regard to the taxable year with the highest adjusted taxable 
income in such period) plus 10 percent of such average.
    ``(d) Taxable Product Thereof.--The term `taxable product thereof' 
means any fuel which is a product of crude oil or natural gas.

``SEC. 5898. SPECIAL RULES AND DEFINITIONS.

    ``(a) Withholding and Deposit of Tax.--The Secretary shall provide 
such rules as are necessary for the withholding and deposit of the tax 
imposed under section 5896.
    ``(b) Records and Information.--Each taxpayer liable for tax under 
section 5896 shall keep such records, make such returns, and furnish 
such information as the Secretary may by regulations prescribe.
    ``(c) Return of Windfall Profit Tax.--The Secretary shall provide 
for the filing and the time of such filing of the return of the tax 
imposed under section 5896.
    ``(d) Businesses Under Common Control.--For purposes of this 
chapter, all members of the same controlled group of corporations 
(within the meaning of section 267(f)) and all persons under common 
control (within the meaning of section 52(b) but determined by treating 
an interest of more than 50 percent as a controlling interest) shall be 
treated as 1 person.
    ``(e) Regulations.--The Secretary shall prescribe such regulations 
as may be necessary or appropriate to carry out the purposes of this 
chapter.''.
    (b) Clerical Amendment.--The table of chapters for subtitle E of 
such Code is amended by adding at the end the following new item:

``Chapter 56. Windfall profits on crude oil, natural gas, and products 
                               thereof''.

    (c) Deductibility of Windfall Profit Tax.--The first sentence of 
section 164(a) of such Code (relating to deduction for taxes) is 
amended by inserting after paragraph (5) the following new paragraph:
            ``(6) The windfall profit tax imposed by section 5896.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning in 2005 or 2006.

SEC. 3. USE OF PROCEEDS FROM WINDFALL PROFITS ON CRUDE OIL, NATURAL 
              GAS, AND PRODUCTS THEREOF.

    There are hereby appropriated amounts equivalent to the taxes 
received in the Treasury under chapter 56 of the Internal Revenue Code 
of 1986, as follows:
            (1) 50 percent of such amounts, which shall be available 
        only for carrying out the Low-Income Home Energy Assistance Act 
        of 1981, and
            (2) 50 percent of such amounts, which shall be credited to 
        the current appropriation of the Department of Veterans Affairs 
        that is available for medical services.

Consumer Windfall Excess Oil Profits Protection Act of 2005 - Amends the Internal Revenue Code to impose an excise tax of 50 percent on the windfall profit from sales of any crude oil, natural gas, or related products and the net gains from transactions related to the price of crude oil, natural gas, or related products. Defines "windfall profit" as the excess of taxpayer adjusted taxable income over the reasonably inflated average profit for the taxable year (average of taxpayer adjusted taxable income for 2000-2004, plus 10 percent of such average).

Allows a tax deduction for the payment of any such windfall profit tax.

Appropriates equal amounts of the windfall profit tax generated by this Act to carry out the Low-Income Home Energy Assistance Act of 1981 and to increase funding for Department of Veterans Affairs medical services.