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. TEACHER RECRUITMENT, RETENTION, AND TRAINING.

    (a) In General.--Title II of the Elementary and Secondary Education 
Act of 1965 (20 U.S.C. 6601 et seq.) is amended--
            (1) by redesignating part E as part F;
            (2) by redesignating sections 2401 and 2402 as sections 
        2501 and 2502, respectively; and
            (3) by inserting after part D the following:

         ``PART E--TEACHER RECRUITMENT, RETENTION, AND TRAINING

``SEC. 2401. PROGRAM AUTHORIZED.

    ``(a) In General.--The Secretary is authorized to make grants to 
local educational agencies to permit such agencies to recruit, retain, 
and train high-quality teachers by carrying out one or more of the 
activities described in subsection (b).
    ``(b) Uses of Funds.--
            ``(1) Recruitment, retention, and training activities.--A 
        local educational agency that receives a grant under this part 
        may use the grant funds for any of the following recruitment, 
        retention, and training activities:
                    ``(A) Providing signing bonuses for teachers.
                    ``(B) Carrying out merit pay programs.
                    ``(C) Providing performance bonuses to teachers.
                    ``(D) Providing scholarships to teachers to pursue 
                advanced course work.
                    ``(E) Providing mentoring programs for teachers.
                    ``(F) Coordinating with institutions of higher 
                education to provide professional development for 
                teachers.
                    ``(G) Any other activity that the local educational 
                agency believes to be effective in recruiting, 
                retaining, or training high-quality teachers.

``SEC. 2402. AUTHORIZATION OF APPROPRIATIONS.

    There are authorized to be appropriated to carry out this part such 
sums as may be necessary for each of fiscal years 2002 through 2004.''.
    (b) Conforming Amendments.--Section 2003 of the Elementary and 
Secondary Education Act of 1965 (20 U.S.C. 6603) is amended--
            (1) in subsection (a), by striking ``part C)'' and 
        inserting ``parts C and E)''; and
            (2) in subsection (b), by inserting ``(other than parts C 
        and E)'' after ``title''.

SEC. 2. LOAN FORGIVENESS FOR TEACHERS.

    (a) Elimination of New Borrower Restrictions.--
            (1) FFEL program.--Section 428J(b) of the Higher Education 
        Act of 1965 (20 U.S.C. 1078-10(b)) is amended by striking ``for 
        any new borrower on or after October 1, 1998, who'' and 
        inserting ``for any borrower who''.
            (2) Federal direct loan program.--Section 460(b)(1) of such 
        Act (20 U.S.C. 1087j(b)(1)) is amended by striking ``for any 
        new borrower on or after October 1, 1998, who'' and inserting 
        ``for any borrower who''.
    (b) Expansion of Eligible Teaching Locations and Subjects; 
Eliminating Delay in Service Benefit.--
            (1) FFEL program.--Section 428J(b)(1) of such Act is 
        amended by striking everything preceding subparagraph (B) and 
        inserting the following:
            ``(1) has been employed as a full-time teacher--
                    ``(A)(i) in a school that qualifies under section 
                465(a)(2)(A) for loan cancellation for Perkins loan 
                recipients who teach in such schools;
                    ``(ii) as a full-time special education teacher, as 
                described in section 465(a)(2)(C); or
                    ``(iii) as a full-time teacher in any field of 
                expertise where the State educational agency determines 
                there is a shortage of qualified teachers;''.
            (2) Federal direct loan program.--Section 460(b)(1)(A) of 
        such Act (20 U.S.C. 1087j(b)(1)(A)) is amended by striking 
        everything preceding clause (ii) and inserting the following:
                    ``(A) has been employed as a full-time teacher--
                            ``(i)(I) in a school that qualifies under 
                        section 465(a)(2)(A) for loan cancellation for 
                        Perkins loan recipients who teach in such 
                        schools;
                            ``(II) as a full-time special education 
                        teacher, as described in section 465(a)(2)(C); 
                        or
                            ``(III) as a full-time teacher in any field 
                        of expertise where the State educational agency 
                        determines there is a shortage of qualified 
                        teachers;''.
    (c) Amounts Subject to Forgiveness.--
            (1) FFEL program.--Section 428J(c) of the Higher Education 
        Act of 1965 (20 U.S.C. 1078-10(c)) is amended by striking 
        paragraph (1) and inserting the following:
            ``(1) Amount and rate of repayment.--The Secretary shall 
        repay an amount that is not more than $20,000 in the aggregate 
        of the loan obligation on a loan made under section 428 or 428H 
        that is outstanding after the completion of the first complete 
        school year of teaching described in subsection (b)(1) for 
        which the borrower seeks repayment under this section. Such 
        amount shall be repaid at the rate of 15 percent for the first 
        or second year of such service, 20 percent for the third or 
        fourth year of such service, and 30 percent for the fifth year 
        of such service. No borrower may receive a reduction of loan 
        obligations under both this section and section 460.''.
            (2) Federal direct loan program.--Section 460(c) of such 
        Act (20 U.S.C. 1087j(c)) is amended by striking paragraph (1) 
        and inserting the following:
            ``(1) Amount and rate of repayment.--The Secretary shall 
        cancel an amount that is not more than $20,000 in the aggregate 
        of the loan obligation on a loan made under section 428 or 428H 
        that is outstanding after the completion of the first complete 
        school year of teaching described in subsection (b)(1)(A). Such 
        amount shall be canceled at the rate of 15 percent for the 
        first or second year of such service, 20 percent for the third 
        or fourth year of such service, and 30 percent for the fifth 
        year of such service.''.
[EX A]: Amends the Elementary and Secondary Education Act of 1965 to establish a new program for teacher recruitment, retention, and training. Authorizes the Secretary of Education to award grants to local educational agencies to recruit, retain, and train high-quality teachers through one or more specified types of activities.Amends the Higher Education Act of 1965 to revise student loan forgiveness for teachers under the Federal Family Education Loan and Federal Direct Loan programs. Expands forgiveness eligibility by: (1) eliminating requirements allowing only certain new borrowers to participate; and (2) increasing the types of eligible teaching locations and subjects. Eliminates a service requirement that an individual teach at least five consecutive complete school years before being eligible for program benefits. Increases to $20,000 the aggregate amount of an individual teacher's student loan obligation which may be forgiven, and revises the rate of repayment.

[EX Q]: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Saver's Bonus Act of 2007''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) According to the Department of Commerce, Americans are 
        currently saving less than 1 percent of their disposable 
        income.
            (2) According to the Federal Reserve's 2004 Survey of 
        Consumer Finances, 17 percent of all households have zero or 
        negative net worth, while 30 percent have net worth of less 
        than $10,000.
            (3) According to the Federal Reserve's 2004 Survey of 
        Consumer Finances, 11 percent of households do not have a 
        checking account and 9 percent do not have a transaction 
        account of any kind.
            (4) According to the Retirement Security Project, in 2004 
        more than half of all households had zero savings in an 
        employer-based 401(k)-type plan or tax-preferred savings plan 
        account.
            (5) It is in the economic interests of the United States to 
        promote savings among all members of society, regardless of 
        income.

SEC. 3. SAVER'S BONUS.

    (a) In General.--The Secretary of the Treasury shall develop a 
program to match deposits made by qualifying low-income individuals 
into designated savings products.
    (b) Qualifying Low-Income Individuals.--For purposes of this Act, 
the term ``qualifying low-income individual'' means any individual 
determined by the Secretary of the Treasury to be eligible for the 
saver's bonus under this Act.
    (c) Designated Savings Products.--For purposes of this Act, the 
term ``designated savings product'' means any savings product, 
including--
            (1) qualified retirement plans (as defined in section 
        4974(c)) of such Code,
            (2) qualified tuition programs under section 529 of such 
        Code,
            (3) Coverdell education savings accounts under section 530 
        of such Code,
            (4) United States savings bonds,
            (5) certificates of deposits with durations of at least 6 
        months, and
            (6) other types of savings products considered appropriate 
        by the Secretary of the Treasury for the purposes of this Act.
    (d) Saver's Bonus Program.--The program established under 
subsection (a) shall provide that--
            (1) qualifying low-income individuals who direct their 
        Federal income tax refund (in its entirety or a portion 
        thereof) be deposited into any designated savings product shall 
        be eligible for a dollar-for-dollar match or saver's bonus to 
        be deposited directly in any designated savings product,
            (2) qualifying low-income individuals who claim (when 
        filing a Federal income tax return) to have deposited funds 
        into any designated savings product during the course of the 
        tax year shall be eligible for a saver's bonus to be deposited 
        directly into any designated savings product, and
            (3) the saver's bonus--
                    (A) shall equal $500 for qualifying low-income 
                individuals who are eligible for the earned income 
                credit under section 32 of such Code and shall be 
                phased out (but not below zero) for such individuals 
                whose earned income exceeds 120 percent of the earned 
                income threshold at which such eligibility ceases,
                    (B) shall be indexed for inflation every 5 years, 
                and
                    (C) shall be considered a refundable credit for 
                purposes of the Internal Revenue Code of 1986.
    (e) Conforming Amendment Regarding Funding of Saver's Bonus.--
Section 1324(b)(2) of title 31, United States Code, is amended by 
inserting ``or enacted by the Saver's Bonus Act of 2007,''.
    (f) Effective Date.--The program under, and amendment made by, this 
section shall be effective with respect to Federal income tax returns 
for taxable years beginning after December 31, 2008.

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 qualifying low-income individuals who qualify for a 
        Federal income tax refund but fail to provide an ACH direct 
        deposit number on their Federal income tax return that they 
        have the option of an electronic direct deposit and that they 
        may be eligible for the saver's bonus program under section 3 
        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, at least 6 months before January 2009, and
                    (B) 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 an 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 and limitations on overdrafts, 
        overdraft fees, and other requirements,
            (3) establishment of means for the taxpayer to access the 
        account electronically or through a payment card, 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 that is insured under the Federal Deposit Insurance 
        Act (12 U.S.C. 1811 et seq.).
    (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, 2008.

SEC. 5. PURCHASE OF SAVINGS BONDS ON FEDERAL INCOME TAX RETURNS.

    (a) Notification of Option.--The Commissioner of Internal Revenue 
shall notify individual taxpayers that they have the option of 
purchasing United States savings bonds when they file their Federal 
income tax returns and that they may be eligible for the saver's bonus 
program under section 3. Such notification shall be included in the 
instruction material for any Federal income tax return.
    (b) Establishment of Savings Bond Purchase Program.--The Secretary 
of the Treasury shall develop, in consultation with a task force, a 
program for the purchase by individual taxpayers of United States 
savings bonds on their Federal income tax returns.
    (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, 2008.
[EX A]: Saver's Bonus Act of 2007 [sic] - Directs the Secretary of the Treasury to develop programs to: (1) match deposits made by low-income individuals into certain savings accounts (saver's bonus); (2) deposit tax refunds electronically into savings accounts; and (3) allow individual taxpayers to purchase U.S. savings bonds on their federal income tax returns.

Requires the Commissioner of the Internal Revenue Service (IRS) to notify low-income taxpayers of their eligibility for the saver's bonus and of their options under this Act.

[EX Q]: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Women's Investment and Savings 
Equity Act of 1999''.

SEC. 2. INDIVIDUALS MAY MAKE CONTRIBUTIONS FOR PERIODS OF MATERNITY OR 
              PATERNITY LEAVE.

    (a) In General.--Section 414 of the Internal Revenue Code of 1986 
(relating to definitions and special rules) is amended by adding at the 
end the following:
    ``(v) Right To Make Contributions With Respect to Periods of 
Maternity and Paternity Leave.--
            ``(1) In general.--For purposes of this title--
                    ``(A) a trust which forms part of a plan shall not 
                constitute a qualified trust under section 401(a),
                    ``(B) a plan shall not be treated as described in 
                section 403(b),
                    ``(C) a plan shall not be treated as an eligible 
                deferred compensation plan under section 457, and
                    ``(D) an arrangement shall not be treated as 
                meeting the requirements of section 408 (k) or (p),
        unless such plan or arrangement permits participants who were 
        on eligible maternity or paternity leave to make additional 
        elective deferrals under the plan or arrangement with respect 
        to periods of such leave.
            ``(2) Treatment of contributions.--
                    ``(A) In general.--In the case of any contribution 
                to a plan under paragraph (1) (and any employer 
                matching contribution with respect thereto)--
                            ``(i) such contribution shall not, with 
                        respect to the year in which the contribution 
                        is made--
                                    ``(I) be subject to any otherwise 
                                applicable limitation contained in 
                                section 402(g), 402(h), 403(b), 404(a), 
                                404(h), 408, 415, or 457, or
                                    ``(II) be taken into account in 
                                applying such limitations to other 
                                contributions or benefits under such 
                                plan or any other such plan,
                            ``(ii) such contribution shall be subject 
                        to the limitations referred to in clause (i) 
                        with respect to the year to which the 
                        contribution relates (in accordance with rules 
                        prescribed by the Secretary), and
                            ``(iii) except as provided in subparagraph 
                        (B)(i), such plan shall not be treated as 
                        failing to meet the requirements of section 
                        401(a)(4), 401(a)(26), 401(k)(3), 401(k)(11), 
                        401(k)(12), 401(m), 403(b)(12), 408(k), 408(p), 
                        410(b), or 416 by reason of the making of (or 
                        the right to make) such contribution.
                    ``(B) Matching contributions.--Nothing in 
                subparagraph (A) shall require an employer to make any 
                matching contribution with respect to any additional 
                elective deferrals under paragraph (1), but if the 
                employer elects to make any such matching 
                contribution--
                            ``(i) the requirements of section 401(a)(4) 
                        shall be applied separately to all such 
                        matching contributions made during a year, and
                            ``(ii) the amount of any such matching 
                        contribution may not exceed the maximum amount 
                        which could have been made under the plan had 
                        the elective deferral actually been made during 
                        the period of eligible maternity and paternity 
                        leave.
            ``(3) Amount and timing of elective deferrals.--A plan 
        shall not be treated as meeting the requirements of paragraph 
        (1) unless the plan provides the following:
                    ``(A) Amount.--The amount of any elective deferral 
                under paragraph (1) which any employee is permitted to 
make with respect to any period of eligible maternity and paternity 
leave shall not exceed the maximum amount of the elective deferrals 
that the employee would have been permitted to make during such period 
in accordance with the limitation referred to in paragraph (2)(A)(i) if 
the individual--
                            ``(i) had not been on eligible maternity 
                        and paternity leave during such period, and
                            ``(ii) had received compensation in an 
                        amount determined under rules similar to the 
                        rules under subsection (u)(7).
                Proper adjustment shall be made to the amount 
                determined under the preceding sentence for any 
                elective deferrals actually made during such period.
                    ``(B) Timing.--An employee may make an elective 
                deferral to which paragraph (1) applies at any time 
                during the 3-year period beginning on the date on which 
                the eligible maternity or paternity leave ends. Any 
                matching contribution with respect to any such elective 
                deferral shall be made not later than the due date 
                (including extensions) for the filing of the employer's 
                return for the taxable year in which such elective 
                deferral is made.
            ``(4) Eligible maternity and paternity leave.--For purposes 
        of this subsection--
                    ``(A) In general.--The term `eligible maternity or 
                paternity leave' means any absence of an individual 
                from work for any period--
                            ``(i) by reason of the pregnancy of the 
                        individual,
                            ``(ii) by reason of the birth of a child of 
                        the individual,
                            ``(iii) by reason of the placement of a 
                        child with the individual in connection with 
                        the adoption of the child by the individual, or
                            ``(iv) for purposes of caring for such 
                        child for a period beginning immediately 
                        following such birth or placement.
                    ``(B) Limitation.--Such period may not exceed 12 
                months with respect to any child.
            ``(5) Other definitions and rules.--For purposes of this 
        subsection--
                    ``(A) Elective deferral.--The term `elective 
                deferral' has the meaning given such term by subsection 
                (u)(2)(C). Such term shall also include any after-tax 
                employee contributions described in subsection 
                (u)(2)(D).
                    ``(B) Plan.--The term `plan' includes any 
                arrangement under section 408 (k) or (p).
                    ``(C) Certain retroactive adjustments not 
                required.--For purposes of this subchapter and 
                subchapter E, the rules of subsection (u)(3) shall 
                apply.
                    ``(D) Loan repayment suspensions permitted.--In the 
                case of any plan or arrangement to which paragraph (1) 
                applies, the rules of subsection (u)(4) shall apply to 
                any loan repayment suspension during any period of 
                eligible maternity and paternity leave.''
    (b) Effective Date.--The amendment made by this section shall apply 
to periods of eligible maternity and paternity leave beginning after 
December 31, 1999.

SEC. 3. CATCHUP CONTRIBUTIONS FOR FAMILIES WITH CHILDREN NOT COVERED BY 
              A PENSION PLAN.

    (a) In General.--Section 414 of the Internal Revenue Code of 1986 
(relating to definitions and special rules), as amended by section 2, 
is amended by adding at the end the following:
    ``(w) Catchup Contributions for Families With Children Not Covered 
by a Pension Plan.--
            ``(1) In general.--For purposes of this title--
                    ``(A) a trust which forms part of a plan shall not 
                constitute a qualified trust under section 401(a),
                    ``(B) a plan shall not be treated as described in 
                section 403(b),
                    ``(C) a plan shall not be treated as an eligible 
                deferred compensation plan under section 457, and
                    ``(D) an arrangement shall not be treated as 
                meeting requirements of section 408 (k) or (p),
        unless such plan or arrangement permits eligible participants 
        to make additional elective deferrals under the plan or 
        arrangement in accordance with paragraph (2).
            ``(2) Catchup contributions.--
                    ``(A) In general.--A plan shall permit an eligible 
                participant to make the additional elective deferrals 
                under paragraph (1) in any year which is certified as a 
                catchup year by the participant under subparagraph (E).
                    ``(B) Limitation on amount of additional 
                deferrals.--A plan shall not permit additional elective 
                deferrals under paragraph (1) for any year in an amount 
                greater than the lesser of--
                            ``(i) the amount of the elective deferrals 
                        the participant may otherwise make under the 
                        plan for such year (determined without regard 
                        to this subsection, subsection (u), or any 
                        limitation described in subparagraph (C)(i)), 
                        or
                            ``(ii) the excess (if any) of--
                                    ``(I) 120 percent of the dollar 
                                limitation in effect under section 
                                402(g), 408(p), or 457(b)(2)(A), 
                                whichever is applicable, for taxable 
                                years beginning in the calendar year in 
                                which the plan year begins, over
                                    ``(II) any other elective deferrals 
                                of the participant for such year which 
                                are made without regard to this 
                                subsection.
                    ``(C) Treatment of contributions.--In the case of 
                any contribution to a plan under paragraph (1) (and any 
                employer matching contribution with respect thereto)--
                            ``(i) such contribution shall not, with 
                        respect to the year in which the contribution 
                        is made--
                                    ``(I) be subject to any otherwise 
                                applicable limitation contained in 
                                section 402(g), 402(h), 403(b), 404(a), 
                                404(h), 408, 415, or 457, or
                                    ``(II) be taken into account in 
                                applying such limitations to other 
                                contributions or benefits under such 
                                plan or any other such plan, and
                            ``(ii) except as provided in subparagraph 
                        (D)(i), such plan shall not be treated as 
                        failing to meet the requirements of section 
                        401(a)(4), 401(a)(26), 401(k)(3), 401(k)(11), 
                        401(k)(12), 401(m), 403(b)(12), 408(k), 408(p), 
                        410(b), or 416 by reason of the making of (or 
                        the right to make) such contribution.
                    ``(D) Matching contributions.--Nothing in 
                subparagraph (A) shall require an employer to make any 
                matching contribution with respect to any additional 
                elective deferrals under paragraph (1) for any year, 
                but if the employer elects to make any such matching 
                contribution--
                            ``(i) the requirements of section 401(a)(4) 
                        shall be applied separately to all such 
                        matching contributions made during a year, and
                            ``(ii) the amount of any such matching 
                        contribution may not exceed the maximum amount 
                        which could have been made under the terms of 
                        the plan in effect for elective deferrals made 
                        for such year without regard to this 
                        subsection.
                    ``(E) Certification of catchup years.--
                            ``(i) In general.--A participant making 
                        additional elective deferrals under paragraph 
                        (1) for any year shall certify to the plan 
                        administrator that--
                                    ``(I) the participant is an 
                                eligible participant, and
                                    ``(II) the year is a catchup year.
                            ``(ii) Catchup year.--An eligible 
                        participant may certify 1 or more years as 
                        catchup years, except that the total number of 
                        years which may be certified shall not exceed 
                        the excess (if any) of--
                                    ``(I) the number of years (not in 
                                excess of 18) described in paragraph 
                                (3) occurring before the year in 
                                question, over
                                    ``(II) the number of years 
                                previously certified by the participant 
                                under this subsection.
                            ``(iii) Plans not responsible for 
                        certification failures.--A plan shall not be 
                        treated as failing to meet the requirements of 
                        this subsection by reason of reliance on an 
                        incorrect certification under this subparagraph 
                        unless the plan administrator knew, or 
                        reasonably should have known, that the 
                        certification was incorrect.
            ``(3) Eligible participant.--For purposes of this 
        subsection, the term `eligible participant' means, with respect 
        to any year, a participant in a plan who, for any calendar year 
        before the calendar year in which the year begins--
                    ``(A) was not an active participant (within the 
                meaning of section 219(g)(5)) for any plan year 
                beginning in the calendar year, and
                    ``(B) had a child or stepchild who had not attained 
                age 18 with respect to whom a deduction was allowed 
                under section 151 to the participant (or the 
                participant's spouse) for a taxable year beginning in 
                the calendar year.
            ``(4) Other definitions and rules.--For purposes of this 
        subsection--
                    ``(A) Elective deferral.--The term `elective 
                deferral' has the meaning given such term by subsection 
                (u)(2)(C). Such term shall also include after-tax 
                employee contributions described in subsection 
                (u)(2)(D).
                    ``(B) Plan.--The term `plan' includes any 
                arrangement under section 408 (k) or (p).
                    ``(C) Certain retroactive adjustments not 
                required.--For purposes of this subchapter and 
                subchapter E, the rules of subsection (u)(3) shall 
                apply.''
    (b) Effective Date.--The amendment made by this section shall apply 
to contributions in taxable years beginning after December 31, 1999.
[EX A]:
Women's Investment and Savings Equity Act of 1999 - Amends the Internal Revenue Code to permit retirement contributions to be made for periods during which individuals were on leave for maternity or paternity leave. 
Permits "catchup contributions" by parents returning to work after periods of nonparticipation in a plan.  Defines "catchup contributions."