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SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Section Commission to Advise on 
Reforming Elections Act''.

SEC. 2. ESTABLISHMENT OF SELECT COMMISSION TO ADVISE ON REFORMING 
              ELECTIONS.

    There is established a commission to be known as the ``Select 
Commission to Advise on Reforming Elections'' (referred to in this Act 
as the ``Commission''). The purposes of the Commission are to study the 
laws relating to the financing of campaigns for elections for Federal 
office and to report and recommend legislation to reform those laws.

SEC. 3. MEMBERSHIP OF COMMISSION.

    (a) Appointment.--The Commission shall be composed of 12 members 
appointed not later than 60 days after the date of the enactment of 
this Act by the President, of whom--
            (1) Three members shall be appointed from among a list of 
        nominees submitted by the majority leader of the House of 
        Representatives;
            (2) Three members shall be appointed from among a list of 
        nominees submitted by the majority leader of the Senate;
            (3) Two members shall be appointed from among a list of 
        nominees submitted by the minority leader of the House of 
        Representatives;
            (4) Two members shall be appointed from among a list of 
        nominees submitted by the minority leader of the Senate; and
            (5) Two members shall be appointed from individuals meeting 
        such criteria as the President may apply.
    (b) Chair.--The members of the Commission shall select two members 
to serve as co-chairs of the Commission.
    (c) Terms.--The members of the Commission shall serve for the life 
of the Commission.
    (d) Vacancies.--A vacancy in the Commission shall be filled in the 
manner in which the original appointment was made.

SEC. 4. POWERS OF COMMISSION.

    (a) Hearings.--The Commission may, for the purpose of carrying out 
this Act, hold hearings, sit and act at times and places, take 
testimony, and receive evidence as the Commission considers 
appropriate.
    (b) Quorum.--Five members of the Commission shall constitute a 
quorum, but a lesser number may hold hearings.

SEC. 5. ADMINISTRATIVE PROVISIONS.

    (a) Pay and Travel Expenses of Members.--(1) Each member of the 
Commission, other than the co-chairs, shall be paid at a rate equal to 
the daily equivalent of the annual rate of basic pay payable for level 
IV of the Executive Schedule under section 5315 of title 5, United 
States Code, for each day (including travel time) during which the 
member is engaged in the actual performance of duties vested in the 
Commission. Each co-chair shall be paid for each day referred to in the 
preceding sentence at a rate equal to the daily equivalent of the 
annual rate of basic pay payable for level III of the Executive 
Schedule under section 5314 of title 5, United States Code.
    (2) Members of the Commission shall receive travel expenses, 
including per diem in lieu of subsistence, in accordance with sections 
5702 and 5703 of title 5, United States Code.
    (b) Staff Director.--The Commission shall, without regard to 
section 5311(b) of title 5, United States Code, appoint a staff 
director, who shall be paid at the rate of basic pay payable for level 
IV of the Executive Schedule under section 5315 of title 5, United 
States Code.
    (c) Staff of Commission; Services.--
            (1) In general.--Subject to such rules as may be adopted by 
        the Commission, the staff director of the Commission, without 
        regard to the provisions of title 5, United States Code, 
        governing appointments in the competitive service and without 
        regard to the provisions of chapter 51 and subchapter III of 
        chapter 53 of that title relating to classifications and 
        General Schedule pay rates, and subject to the approval of the 
Commission, may appoint such personnel as the staff director considers 
necessary, except that an individual so appointed may not receive pay 
in excess of the maximum annual rate of basic pay payable for grade GS-
15 of the General Schedule under section 5332 of title 5, United States 
Code.
            (2) Temporary and intermittent services.--Subject to the 
        approval of the Commission, the staff director of the 
        Commission may procure temporary and intermittent services to 
        the same extent as is authorized by section 3109(b) of title 5, 
        United States Code.

SEC. 6. REPORT AND RECOMMENDATIONS FOR CHANGES IN LAW.

    (a) Report.--Not later than 180 days after the appointment of its 
members, the Commission shall submit to the President, the Speaker and 
minority leader of the House of Representatives, and the majority and 
minority leaders of the Senate a report of the activities of the 
Commission.
    (b) Recommendations for Changes in Campaign Finance Laws.--
            (1) In general.--Subject to paragraph (2), the Commission 
        shall submit to the President, the Speaker and minority leader 
        of the House of Representatives, and the majority and minority 
        leaders of the Senate any recommendations for changes in the 
        laws (including regulations) governing the conducting and 
        financing of Federal campaigns (including any changes in the 
        rules of the Senate or the House of Representatives) to which 
        seven or more members of the Commission may agree--
                    (A) by including such recommendations in the report 
                submitted under subsection (a); or
                    (B) with the approval of a majority of its members, 
                by submitting a supplemental report containing such 
                recommendations not later than 180 days after 
                submitting the report under subsection (a).
            (2) Final deadline.--The Commission may not submit 
        recommendations under this subsection after July 15, 1998.
    (c) Dissenting Views.--The Commission shall include in the report 
submitted under subsection (a) and in any recommendations submitted 
under subsection (b) any dissenting or minority views of its members, 
including recommendations for changes in law which were proposed by any 
member and to which seven or more members did not agree.

SEC. 7. EXPEDITED CONGRESSIONAL CONSIDERATION OF LEGISLATION 
              IMPLEMENTING RECOMMENDATIONS.

    (a) Preparation of Legislation.--If the Commission submits any 
recommendation for changes in the laws under section 6(b), those 
members concurring in the recommendation shall include with the 
recommendation legislation to implement the recommendation.
    (b) Expedited Congressional Consideration of Legislation.--
            (1) In general.--If any legislation is introduced the 
        substance of which implements a recommendation of the 
        Commission submitted under section 6(b), subject to paragraph 
        (2), the provisions of section 2908 (other than subsection (a)) 
        of the Defense Base Closure and Realignment Act of 1990 shall 
        apply to the consideration of the legislation in the same 
        manner as such provisions apply to a joint resolution described 
        in section 2908(a) of such Act.
            (2) Special rules.--For purposes of applying paragraph (1) 
        with respect to such provisions, the following rules shall 
        apply:
                    (A) Any reference to the Committee on Armed 
                Services of the House of Representatives shall be 
                deemed a reference to the Committee on House Oversight 
                of the House of Representatives and any reference to 
                the Committee on Armed Services of the Senate shall be 
                deemed a reference to the Committee on Rules and 
                Administration of the Senate.
                    (B) Any reference to the date on which the 
                President transmits a report shall be deemed a 
                reference to the date on which the recommendation 
                involved is submitted under section 6(b).

SEC. 8. TERMINATION.

    The Commission shall cease to exist 90 days after the later of--
            (1) the date of the submission of its report under section 
        6(a); or
            (2) the date of the submission of its recommendations under 
        section 6(b).
Select Commission to Advise on Reforming Elections Act - Establishes the Select Commission to Advise on Reforming Elections to study the laws relating to the financing of campaigns for Federal elections and to report and recommend legislation to reform those laws. 
(Sec. 6) Requires the Commission to submit a report to the President, the Speaker and minority leader of the House of Representatives, and the majority and minority leaders of the Senate on its activities.  Directs the Commission, as specified, to submit to the President, the Speaker and minority leader of the House of Representatives, and the majority and minority leaders of the Senate, any recommendations for changes in campaign finance laws to which seven or more Commission members may agree.  Prohibits the submission of recommendations by the Commission after July 15, 1998. 
(Sec. 7) Requires that when the Commission submits any recommendation for changes in campaign finance laws, those Commission members concurring in the recommendation shall include legislation to implement the recommendation.  Provides for expedited congressional consideration of any legislation introduced which implements a recommendation of the Commission. 
(Sec. 8) Terminates the Commission after the later of:  (1) the submission of its report; or (2) the submission of its recommendations.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Commercial Mortgage Capital 
Availability Act of 1993''.

SEC. 2. INSURED DEPOSITORY INSTITUTION CAPITAL REQUIREMENTS FOR 
              TRANSFERS OF MORTGAGE LOANS.

    (a) Accounting Principles.--The accounting principles applicable to 
the transfer of a mortgage loan with recourse contained in reports or 
statements required to be filed with Federal banking agencies by a 
qualified insured depository institution shall be consistent with 
generally accepted accounting principles.
    (b) Capital and Reserve Requirements.--With respect to the transfer 
of a mortgage loan with recourse that is a sale under generally 
accepted accounting principles, each qualified insured depository 
institution shall--
            (1) establish and maintain a reserve equal to an amount 
        sufficient to meet the reasonable estimated liability of the 
        institution under the recourse arrangement; and
            (2) treat as an asset (for purposes of applicable capital 
        standards and other capital measures, including risk-based 
        capital requirements) only the maximum amount at risk under the 
        recourse arrangement.
    (c) Qualified Institutions Defined.--An insured depository 
institution is a qualified insured depository institution for purposes 
of this section if, without regard to the accounting principles or 
capital requirements referred to in subsections (a) and (b), the 
institution is--
            (1) well capitalized; or
            (2) with the approval, by regulation or order, of the 
        appropriate Federal banking agency, adequately capitalized.
    (d) Aggregate Amount of Recourse.--The total outstanding amount at 
risk with respect to transfers of mortgage loans under subsections (a) 
and (b) (together with the amount at risk under any provisions of law 
substantially similar to subsections (a) and (b)) shall not exceed--
            (1) the amount which is equal to 15 percent of the risk-
        based capital of the institution; or
            (2) such greater amount, as established by the appropriate 
        Federal banking agency by regulation or order.
    (e) Institutions That Cease To Be Qualified or Exceed Aggregate 
Limits.--If an insured depository institution ceases to be a qualified 
insured depository institution or exceeds the limits under subsection 
(d), this section shall remain applicable to any transfer of mortgage 
loans that occurred at a time when the institution was qualified and 
had not exceeded such limit.
    (f) Prompt Corrective Action not Affected.--The capital of an 
insured depository institution shall be computed without regard to this 
section in determining whether the institution is less than well 
capitalized.
    (g) Regulations Required.--Before the end of the 180-day period 
beginning on the date of the enactment of this Act, each appropriate 
Federal banking agency shall prescribe final regulations implementing 
this section.
    (h) Alternative System Permitted.--
            (1) In general.--At the discretion of the appropriate 
        Federal banking agency, this section shall not apply if the 
        regulations of the agency provide that the aggregate amount of 
        capital and reserves required with respect to the transfer of 
        mortgage loans with recourse does not exceed the aggregate 
        amount of capital and reserves that would be required under 
        subsection (b).
            (2) Existing transactions not affected.--Notwithstanding 
        paragraph (1), this section shall remain in effect with respect 
        to transfers of mortgage loans with recourse by qualified 
        insured depository institutions occurring before the effective 
        date of regulations referred to in paragraph (1).
    (i) Definitions.--The following definitions apply for purposes of 
this section:
            (1) Adequately capitalized.--The term ``adequately 
        capitalized'' has the same meaning as in section 38(b) of the 
        Federal Deposit Insurance Act.
            (2) Appropriate federal banking agency.--The term 
        ``appropriate Federal banking agency'' has the same meaning as 
        in section 3 of the Federal Deposit Insurance Act.
            (3) Capital standards.--The term ``capital standards'' has 
        the same meaning as in section 38(c) of the Federal Deposit 
        Insurance Act.
            (4) Federal banking agencies.--The term ``Federal banking 
        agencies'' has the same meaning as in section 3 of the Federal 
        Deposit Insurance Act.
            (5) Insured depository institution.--The term ``insured 
        depository institution'' has the same meaning as in section 3 
        of the Federal Deposit Insurance Act.
            (6) Other capital measures.--The term ``other capital 
        measures'' has the same meaning as in section 38(c) of the 
        Federal Deposit Insurance Act.
            (7) Recourse.--The term ``recourse'' has the meaning given 
        to such term under generally accepted accounting principles.
            (8) Mortgage loan.--The term ``mortgage loan'' means any--
                    (A) note or certificate of interest or 
                participation in a note (including any rights designed 
                to assure servicing of, or the timeliness of receipt by 
                the holders of such notes, certificates, or 
                participation of amounts payable under such notes, 
                certificates or participation) that is principally 
                secured by an interest in real property; or
                    (B) any security (within the meaning of section 8 
                of the Securities Exchange Act of 1934) that is secured 
                by one or more notes described in subparagraph (A) or 
                certificates of interest or participation in such notes 
                (with or without recourse to issuers thereof) and that, 
                by its terms, provides for payments of principal in 
                relation to payments, or reasonable projections of 
                payments, on notes described in subparagraph (A) or 
                certificates of interest or participation in such 
                notes.
            (9) Well capitalized.--The term ``well capitalized'' has 
        the same meaning as in section 38(b) of the Federal Deposit 
        Insurance Act.

SEC. 3. AMENDMENT TO DEFINITION OF MORTGAGE RELATED SECURITY.

    Section 3(a)(41)(A)(i) of the Securities Exchange Act of 1934 (15 
U.S.C. 78c(a)(41)(A)(i)) is amended by inserting before the semicolon 
``, or on 1 or more parcels of real estate upon which is located one or 
more commercial structures''.

SEC. 4. AUTHORITY TO EXEMPT COMMERCIAL MORTGAGE RELATED SECURITIES 
              TRANSACTIONS FROM PROHIBITED TRANSACTION RULES.

    The Secretary of Labor, in consultation with the Secretary of the 
Treasury, shall exempt, either unconditionally or on stated terms and 
conditions, transactions involving commercial mortgage related 
securities (as such term is defined in section 3(a)(41) of the 
Securities Exchange Act of 1934, as amended by section 3 of this Act) 
from--
            (1) the restrictions of sections 406(a) and 407(a) of the 
        Employee Retirement Income Security Act of 1974; and
            (2) the taxes imposed under section 4975 of the Internal 
        Revenue Code of 1986.

SEC. 5. PROVISIONS TO SAFEGUARD THE INTEGRITY OF THE SECURITIZATION 
              PROCESS, AND THE SAFETY AND SOUNDNESS OF FEDERALLY 
              INSURED INSTITUTIONS.

    (a) Compliance With Securities Regulations.--Any security relying 
on the provisions of this Act shall comply with all rules and 
regulations of Federal securities laws applicable thereto, as 
determined taking into account the provisions of this Act, including 
all provisions relating to required disclosure to investors, 
registrations, reporting and compliance, and all anti-fraud provisions.
    (b) Treatment of Bank Issued or Purchased Mortgage Backed 
Securities for Purposes of Minimum Capital Requirements.--
            (1) Mortgages held by bank to back securities.--If an issue 
        of securities backed by mortgage loans represents a liability 
        on the balance sheet of an insured depository institution and 
        the assets backing such obligation represent assets on the 
        balance sheet of such institution, the institution shall 
        maintain minimum adequate capital with regard to such assets as 
        prescribed by all applicable rules and regulations of the 
        banking agencies with supervisory and examination authority 
        over such institution, as determined taking into account the 
        provisions of this Act.
            (2) Securities held by bank.--If an insured depository 
        institution purchases a mortgage-related security to which the 
        provisions of this Act apply, the institution shall maintain 
        minimum adequate capital with respect to such security and all 
        other assets as prescribed by all applicable rules and 
        regulations of the banking agencies with supervisory and 
        examination authority over such institution, as determined 
        taking into account the provisions of this Act.
Commercial Mortgage Capital Availability Act of 1993 - Sets forth a regulatory scheme under which qualified insured depository institutions meeting prescribed reserve and capital requirements may execute mortgage loan transfers with a recourse arrangement. 
Amends the Securities Exchange Act of 1934 to modify the definition of "mortgage related security" to include notes directly secured by a first lien on real estate with commercial structures located upon it (thus bringing such securities within the purview of the Act). 
Directs the Secretary of Labor to exempt commercial mortgage related securities transactions from:  (1) certain restrictions of the Employee Retirement Income Security Act of 1974; and (2) certain taxes imposed under the Internal Revenue Code. 
Mandates that securities relying on the provisions of this Act comply with all Federal securities laws relating to disclosure to investors, registrations, reporting and anti-fraud provisions. 
Requires insured depository institutions to maintain the minimum adequate capital prescribed by regulatory banking agencies when executing mortgage backed securities transactions.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Timely Repatriation Act''.

SEC. 2. TIMELY REPATRIATION.

    (a) Listing of Countries.--Beginning on the date that is 6 months 
after the date of enactment of this Act, and every 6 months thereafter, 
the Secretary of Homeland Security shall publish a report including the 
following:
            (1) A list of the following:
                    (A) Countries that have refused or unreasonably 
                delayed repatriation of an alien who is a national of 
                that country since the date of enactment of this Act 
                and the total number of such aliens, disaggregated by 
                nationality.
                    (B) Countries that have an excessive repatriation 
                failure rate.
            (2) A list of each country that was included under 
        subparagraph (B) or (C) of paragraph (1) in both the report 
        preceding the current report and the current report.
    (b) Sanctions.--Beginning on the date that a country is included in 
a list under subsection (a)(2) and ending on the date that that country 
is not included in such list, that country shall be subject to the 
following:
            (1) The Secretary of State may not issue visas under 
        section 101(a)(15)(A)(iii) of the Immigration and Nationality 
        Act (8 U.S.C. 1101(a)(15)(A)(iii)) to attendants, servants, 
        personal employees, and members of their immediate families, of 
        the officials and employees of that country who receive 
        nonimmigrant status under clause (i) or (ii) of section 
        101(a)(15)(A) of such Act.
            (2) Each 6 months thereafter that the country is included 
        in that list, the Secretary of State shall reduce the number of 
        visas available under clause (i) or (ii) of section 
        101(a)(15)(A) of the Immigration and Nationality Act in a 
        fiscal year to nationals of that country by an amount equal to 
        10 percent of the baseline visa number for that country. Except 
        as provided under section 243(d) of the Immigration and 
        Nationality Act (8 U.S.C. 1253), the Secretary may not reduce 
        the number to a level below 20 percent of the baseline visa 
        number.
    (c) Waivers.--
            (1) National security waiver.--If the Secretary of State 
        submits to Congress a written determination that significant 
        national security interests of the United States require a 
        waiver of the sanctions under subsection (b), the Secretary may 
        waive any reduction below 80 percent of the baseline visa 
        number. The Secretary of Homeland Security may not delegate the 
        authority under this subsection.
            (2) Temporary exigent circumstances.--If the Secretary of 
        State submits to Congress a written determination that 
        temporary exigent circumstances require a waiver of the 
        sanctions under subsection (b), the Secretary may waive any 
        reduction below 80 percent of the baseline visa number during 
        6-month renewable periods. The Secretary of Homeland Security 
        may not delegate the authority under this subsection.
    (d) Exemption.--The Secretary of Homeland Security, in consultation 
with the Secretary of State, may exempt a country from inclusion in a 
list under subsection (a)(2) if the total number of nonrepatriations 
outstanding is less than 10 for the preceding 3-year period.
    (e) Unauthorized Visa Issuance.--Any visa issued in violation of 
this section shall be void.
    (f) Notice.--If an alien who has been convicted of a criminal 
offense before a Federal or State court whose repatriation was refused 
or unreasonably delayed is to be released from detention by the 
Secretary of Homeland Security, the Secretary shall provide notice to 
the State and local law enforcement agency for the jurisdictions in 
which the alien is required to report or is to be released. When 
possible, and particularly in the case of violent crime, the Secretary 
shall make a reasonable effort to provide notice of such release to any 
crime victims and their immediate family members.
    (g) Definitions.--For purposes of this section:
            (1) Refused or unreasonably delayed.--A country is deemed 
        to have refused or unreasonably delayed the acceptance of an 
        alien who is a citizen, subject, national, or resident of that 
        country if, not later than 90 days after receiving a request to 
        repatriate such alien from an official of the United States who 
        is authorized to make such a request, the country does not 
        accept the alien or issue valid travel documents.
            (2) Failure rate.--The term ``failure rate'' for a period 
        means the percentage determined by dividing the total number of 
        repatriation requests for aliens who are citizens, subjects, 
        nationals, or residents of a country that that country refused 
        or unreasonably delayed during that period by the total number 
        of such requests during that period.
            (3) Excessive repatriation failure rate.--The term 
        ``excessive repatriation failure rate'' means, with respect to 
        a report under subsection (a), a failure rate greater than 10 
        percent for any of the following:
                    (A) The period of the 3 full fiscal years preceding 
                the date of publication of the report.
                    (B) The period of 1 year preceding the date of 
                publication of the report.
            (4) Number of non-repatriations outstanding.--The term 
        ``number of non-repatriations outstanding'' means, for a 
        period, the number of unique aliens whose repatriation a 
        country has refused or unreasonably delayed and whose 
        repatriation has not occurred during that period.
            (5) Baseline visa number.--The term ``baseline visa 
        number'' means, with respect to a country, the average number 
        of visas issued each fiscal year to nationals of that country 
        under clauses (i) and (ii) of section 101(a)(15)(A) of the 
        Immigration and Nationality Act (8 U.S.C. 1101(a)(15)(A)) for 
        the 3 full fiscal years immediately preceding the first report 
        under subsection (a) in which that country is included in the 
        list under subsection (a)(2).
    (h) GAO Report.--On the date that is 1 day after the date that the 
President submits a budget under section 1105(a) of title 31, United 
States Code, for fiscal year 2014, the Comptroller General of the 
United States shall submit a report to Congress regarding the progress 
of the Secretary of Homeland Security and the Secretary of State in 
implementation of this section and in making requests to repatriate 
aliens as appropriate.

Timely Repatriation Act - Directs the Secretary of Homeland Security (DHS) to publish a report every six months listing countries that have: (1) refused or unreasonably delayed repatriation of an alien who is a national of that country, and the total number of such aliens; and (2) an excessive repatriation failure rate. Directs the Secretary of Statewith respect to a listed country: (1) to not issue visas to attendants, servants, and personal employees of such country's diplomats and officials/employees; and (2) reduce the number of visas available for such country's diplomats and officials/employees by 10% for each six months that a country is listed. Authorizes the Secretary of Homeland Security to exempt a country from inclusion if the total number of nonrepatriations outstanding is less than 10% for the preceding 3-year period.