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 Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``International Insurance Capital 
Standards Accountability Act of 2015''.

SEC. 2. FINDINGS.

    Congress finds that--
            (1) the Secretary of the Treasury, Board of Governors of 
        the Federal Reserve System, and Director of the Federal 
        Insurance Office shall support increasing transparency at any 
        global insurance or international standard-setting regulatory 
        or supervisory forum in which they participate, including 
        supporting and advocating for greater public observer access to 
        working groups and committee meetings of the International 
        Association of Insurance Supervisors; and
            (2) to the extent that the Secretary of the Treasury, Board 
        of Governors of the Federal Reserve System, and Director of the 
        Federal Insurance Office take a position or reasonably intend 
        to take a position on an insurance proposal by a global 
        insurance regulatory or supervisory forum, the Secretary of the 
        Treasury, Board of Governors of the Federal Reserve System, and 
        Director of the Federal Insurance Office shall achieve 
        consensus positions with State insurance regulators through the 
        National Association of Insurance Commissioners, when they are 
        United States participants in negotiations on insurance issues 
        before the International Association of Insurance Supervisors, 
        Financial Stability Board, or any other international forum of 
        financial regulators or supervisors that considers such issues.

SEC. 3. INSURANCE POLICY ADVISORY COMMITTEE.

    (a) Establishment.--There is established the Insurance Policy 
Advisory Committee on International Capital Standards and Other 
Insurance Issues at the Board of Governors of the Federal Reserve 
System.
    (b) Membership.--The Commission shall be composed of not more than 
21 members, all of whom represent a diverse set of expert perspectives 
from the various sectors of the United States insurance industry, 
including life insurance, property and casualty insurance and 
reinsurance, agents and brokers, academics, consumer advocates, or 
experts on issues facing underserved insurance communities and 
consumers.

SEC. 4. REPORTS.

    (a) In General.--
            (1) Reports and testimony by secretary of the treasury and 
        chairman of the federal reserve.--
                    (A) In general.--The Secretary of the Treasury and 
                the Chairman of the Federal Reserve, or their designee, 
                shall submit to the Banking, Housing, and Urban Affairs 
                Committee of the Senate, and the Financial Services 
                Committee of the House of Representatives, an annual 
                report and provide annual testimony to the Banking, 
                Housing, and Urban Affairs Committee of the Senate, and 
                the Financial Services Committee of the House of 
                Representatives on the efforts of the Secretary and the 
                Chairman with the National Association of Insurance 
                Commissioners with respect to global insurance 
                regulatory or supervisory forums, including--
                            (i) a description of the insurance 
                        regulatory or supervisory standard-setting 
                        issues under discussion at international 
                        standard-setting bodies, including the 
                        Financial Stability Board and the International 
                        Association of Insurance Supervisors;
                            (ii) a description of the effects that 
                        proposals discussed at international insurance 
                        regulatory or supervisory forums of insurance 
                        could have on consumer and insurance markets in 
                        the United States;
                            (iii) a description of any position taken 
                        by the Secretary of the Treasury, Board of 
                        Governors of the Federal Reserve System, and 
                        Director of the Federal Insurance Office in 
                        international insurance discussions; and
                            (iv) a description of the efforts by the 
                        Secretary of the Treasury, Director of the 
                        Federal Insurance Office, and the Board of 
                        Governors of the Federal Reserve System to 
                        increase transparency at the Financial 
                        Stability Board with respect to insurance 
                        proposals and the International Association of 
                        Insurance Supervisors, including efforts to 
                        provide additional public access to working 
                        groups and committees of the International 
                        Association of Insurance Supervisors.
                    (B) Termination.--This paragraph shall terminate on 
                December 31, 2018.
            (2) Reports and testimony by national association of 
        insurance commissioners.--The National Association of Insurance 
        Commissioners may provide testimony to Congress on the issues 
        described in paragraph (1)(A).
            (3) Joint report by the chairman of the federal reserve and 
        the director of the federal insurance office.--
                    (A) In general.--The Secretary of the Treasury, 
                Chairman of the Federal Reserve, and the Director of 
                the Federal Insurance Office shall, in consultation 
                with the National Association of Insurance 
                Commissioners, complete a study on, and submit to 
                Congress a report on the results of the study, the 
                impact on consumers and markets in the United States 
                before supporting or consenting to the adoption of any 
                key elements in any international insurance proposal or 
                international insurance capital standard.
                    (B) Notice and comment.--
                            (i) Notice.--The Secretary of the Treasury, 
                        Chairman of the Federal Reserve, and the 
                        Director of the Federal Insurance Office shall 
                        provide notice before the date on which 
                        drafting the report is commenced and after the 
                        date on which the draft of the report is 
                        completed.
                            (ii) Opportunity for comment.--There shall 
                        be an opportunity for public comment for a 
                        period beginning on the date on which the 
                        report is submitted under subparagraph (A) and 
                        ending on the date that is 60 days after the 
                        date on which the report is submitted.
                    (C) Review by comptroller general.--The Secretary 
                of the Treasury, Chairman of the Federal Reserve, and 
                the Director of the Federal Insurance Office shall 
                submit to the Comptroller General of the United States 
                the report described in subparagraph (A) for review.
            (4) Report on reduction in transparency.--Not later than 
        180 days after the date of enactment of this Act, the Chairman 
        of the Federal Reserve and the Secretary of the Treasury, or 
        their designees, shall submit to Congress a report and provide 
        testimony to Congress on the efforts of the Chairman and the 
        Secretary to increase transparency at meetings of the 
        International Association of Insurance Supervisors.

Ex Output:
International Insurance Capital Standards Accountability Act of 2015 This bill establishes at the Board of Governors of the Federal Reserve System the Insurance Policy Advisory Committee on International Capital Standards and Other Insurance Issues, a 21-member committee representing diverse expert perspectives from the U.S. insurance industry (including life insurance, property and casualty insurance and reinsurance, agents and brokers, academics, consumer advocates, or experts on issues facing underserved insurance communities and consumers).  The Secretary of the Treasury and the Board Chairman shall report annually to certain congressional committees on their efforts with the National Association of Insurance Commissioners regarding global insurance regulatory or supervisory forums. The Secretary, the Board Chairman, and the Director of the Federal Insurance Office, before supporting or consenting to the adoption of any key element in any international insurance proposal or international insurance capital standard, must study its impact upon U.S. markets and consumers.  The Secretary and the Board Chairman must also report, as well as testify to Congress on their efforts to increase transparency at meetings of the International Association of Insurance Supervisors.


Ex Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Pension Interest Rate Relief Act of 
2002''.

SEC. 2. INTEREST RATE RANGE FOR ADDITIONAL FUNDING REQUIREMENTS.

    (a) Amendments to the Internal Revenue Code of 1986.--
            (1) Special rule.--Clause (i) of section 412(l)(7)(C) of 
        the Internal Revenue Code of 1986 (relating to interest rate) 
        is amended by adding at the end the following new subclause:
                                    ``(III) Special rule for 2001 
                                through 2004.--For a plan year 
                                beginning in 2001, 2002, 2003 or 2004, 
                                notwithstanding subclause (I), in the 
                                case that the rate of interest used 
                                under subsection (b)(5) exceeds the 
                                highest rate permitted under subclause 
                                (I), the rate of interest used to 
                                determine current liability under this 
                                subsection may exceed the rate of 
                                interest otherwise permitted under 
                                subclause (I); except that such rate of 
                                interest shall not exceed 120 percent 
                                of the weighted average referred to in 
                                subsection (b)(5)(B)(ii).''
            (2) Quarterly contributions.--Subsection (m) of section 412 
        of such Code is amended by adding at the end the following new 
        paragraph:
            ``(7) Special rule for 2005.--In any case in which the 
        interest rate used to determine current liability is determined 
        under subsection (l)(7)(C)(i)(III) for purposes of applying 
        paragraphs (1) and (4)(B)(ii) for plan years beginning in 2005, 
        the current liability for the preceding plan year shall be 
        redetermined using 105 percent as the specified percentage 
        determined under subsection (l)(7)(C)(i)(II).''
    (b) Amendments to the Employee Retirement Income Security Act of 
1974.--
            (1) Special rule.--Clause (i) of section 302(d)(7)(C) of 
        the Employee Retirement Income Security Act of 1974 (29 U.S.C. 
        1082(d)(7)(C)) is amended by adding at the end the following 
        new subclause:
                                    ``(III) Special rule for 2001 
                                through 2004.--For a plan year 
                                beginning in 2001, 2002, 2003 or 2004, 
                                notwithstanding subclause (I), in the 
                                case that the rate of interest used 
                                under subsection (b)(5) exceeds the 
                                highest rate permitted under subclause 
                                (I), the rate of interest used to 
                                determine current liability under this 
                                subsection may exceed the rate of 
                                interest otherwise permitted under 
                                subclause (I); except that such rate of 
                                interest shall not exceed 120 percent 
                                of the weighted average referred to in 
                                subsection (b)(5)(B)(ii).''
            (2) Quarterly contributions.--Subsection (e) of section 302 
        of such Act (29 U.S.C. 1082) is amended by adding at the end 
        the following new paragraph:
            ``(7) Special rule for 2005.--In any case in which the 
        interest rate used to determine current liability is determined 
        under subsection (d)(7)(C)(i)(III) for purposes of applying 
        paragraphs (1) and (4)(B)(ii) for plan years beginning in 2005, 
        the current liability for the preceding plan year shall be 
        redetermined using 105 percent as the specified percentage 
        determined under subsection (d)(7)(C)(i)(II).''
    (c) PBGC.--Clause (iii) of section 4006(a)(3)(E) of the Employee 
Retirement Income Security of Act 1974 (29 U.S.C. 1306(a)(3)(E)) is 
amended by adding at the end the following new subclause:
    ``(IV) In the case of plan years beginning after December 31, 2001, 
and before January 1, 2005, subclause (II) shall be applied by 
substituting `100 percent' for `85 percent' and by substituting `115 
percent' for `100 percent'. Subclause (III) shall be applied for such 
years without regard to the preceding sentence. Any reference to this 
clause by any other sections or subsections (other than sections 4010, 
4011 and 4043) shall be treated as a reference to this clause without 
regard to this subclause.''
    (d) Amendments to Retirement Protection Act of 1994.--
            (1) Transition rule made permanent.--Paragraph (1) of 
        section 769(c) of the Retirement Protection Act of 1994 is 
        amended--
                    (A) by striking ``transition'' each place it 
                appears in the heading and the text, and
                    (B) by striking ``for any plan year beginning after 
                1996 and before 2010''.
            (2) Special rules.--Paragraph (2) of section 769(c) of the 
        Retirement Protection Act of 1994 is amended to read as 
        follows:
            ``(2) Special rules.--The rules described in this paragraph 
        are as follows:
                    ``(A) For purposes of section 412(l)(9)(A) of the 
                Internal Revenue Code of 1986 and section 302(d)(9)(A) 
                of the Employee Retirement Income Security Act of 1974, 
                the funded current liability percentage for any plan 
                year shall be treated as not less than 90 percent.
                    ``(B) For purposes of section 412(m) of the 
                Internal Revenue Code of 1986 and section 302(e)(9) of 
                the Employee Retirement Income Security Act of 1974, 
                the funded current liability percentage for any plan 
                year shall be treated as not less than 100 percent.
                    ``(C) For purposes of determining unfunded vested 
                benefits under section 4006(a)(3)(E)(iii) of the 
                Employee Retirement Income Security Act of 1974, the 
                mortality table shall be the mortality table used by 
                the plan.''.
            (3) Effective date.--The amendments made by this subsection 
        shall apply to plan years beginning after December 31, 2001.

Ex Output:
Pension Interest Rate Relief Act of 2002 - Amends the Internal Revenue Code and Employee Retirement Income Security Act of 1974 by increasing, for plan years beginning 2001 through 2004, the permissible interest rate range used to determine additional funding requirements for certain benefit plans which are not multiemployer plans.Sets forth a special rule regarding the interest rate used to determine liability for plan years beginning in 2005.Amends the Retirement Protection Act of 1994 to establish special rules relating to funding liability percentages and the mortality table to be used for purposes of determining unfunded vested benefits.


Ex Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Ensuring Small Businesses Can Export 
Act of 2015''.

SEC. 2. FINDINGS.

    (a) In General.--Congress finds that--
            (1) the Export-Import Bank of the United States 
        administers--
                    (A) the Working Capital Loan Guarantee Program, 
                which--
                            (i) facilitates finance for businesses, in 
                        particular small businesses, that have 
                        exporting potential but need working capital 
                        funds to produce or market goods or services 
                        for export;
                            (ii) provides repayment guarantees to 
                        lenders on short- and medium-term working 
                        capital loans made to qualified exporters, 
                        which loans are secured by export-related 
                        accounts receivable and inventory;
                            (iii) provides a guarantee of up to 90 
                        percent of the principal and interest on a loan 
                        made to an exporter by a private lender for 
                        export-related accounts receivable; and
                            (iv) provides a guarantee of up to 75 
                        percent for export-related inventory;
                    (B) the Global Credit Express Loan Program, which 
                provides direct working capital loans to small 
                businesses for a 6- or 12-month revolving line of 
                credit of not more than $500,000; and
                    (C) the Export Credit Insurance Program, which--
                            (i) extends credit terms to foreign 
                        customers;
                            (ii) insures against nonpayment by 
                        international buyers;
                            (iii) covers both commercial and political 
                        losses with a 95-percent guarantee; and
                            (iv) arranges financing through a lender by 
                        using insured receivables as additional 
                        collateral;
            (2) the export loan programs of the Export-Import Bank of 
        the United States described in subparagraphs (A), (B), and (C) 
        of paragraph (1) are less appealing to small businesses due to 
        lending restrictions on loans under those programs, which 
        provide that--
                    (A) the loans may not be used when the export 
                product being financed has less than 50-percent United 
                States content;
                    (B) the loans may not be used to finance sales to 
                foreign military buyers, with which a growing number of 
                small businesses are contracting; and
                    (C) contracts and purchase orders supported by 
                letters of credit may not be used in determining the 
                borrowing base; and
            (3) the Small Business Administration administers--
                    (A) the Export Working Capital Program, established 
                under section 7(a)(14) of the Small Business Act (15 
                U.S.C. 636(a)(14)), which provides short-term working 
                capital, including revolving lines of credit, of not 
                more than $5,000,000 with a 90-percent guarantee;
                    (B) the International Trade Loan Program, 
                established under section 7(a)(16) of the Small 
                Business Act (15 U.S.C. 636(a)(16)), which provides 
                financing of not more than $5,000,000 with a 90-percent 
                guarantee for fixed assets, or to improve a competitive 
                position that has been adversely affected by import 
                competition; and
                    (C) the Export Express Program, established under 
                7(a)(34) of the Small Business Act (15 U.S.C. 
                636(a)(34)), under which--
                            (i) exporters are provided with a 
                        streamlined method to obtain financing backed 
                        by the Small Business Administration for loans 
                        and lines of credit of not more than $500,000;
                            (ii) lenders use their own credit decision 
                        process and loan documentation;
                            (iii) the Small Business Administration 
                        determines eligibility and provides a loan 
                        approval in 36 hours or less; and
                            (iv) the guarantee is 90 percent for a loan 
                        that is not more than $350,000 and 75 percent 
                        for a loan that is more than $350,000 and not 
                        more than $500,000.
    (b) Additional Findings.--Congress further finds that--
            (1) the export loan programs of the Small Business 
        Administration described in subparagraphs (A), (B), and (C) of 
        subsection (a)(3)--
                    (A) are not restricted by the limitations described 
                in subparagraphs (A), (B), and (C) of subsection 
                (a)(2); and
                    (B) should be commended for their flexibility, 
                quick turnaround times, and the one-on-one assistance 
                from Small Business Administration personnel in 
                structuring loan deals, negotiating payment terms, and 
                ensuring that the financial needs of small businesses 
                are met;
            (2) the Export-Import Bank of the United States only has 
        Regional Export Finance Managers co-located in 12 Department of 
        Commerce United States Export Assistance Centers, whereas the 
        Small Business Administration--
                    (A) has Regional Export Finance Managers co-located 
                in 20 United States Export Assistance Centers; and
                    (B) currently has Regional Export Finance Managers 
                co-located in 10 additional United States Export 
                Assistance Center locations that the Export-Import Bank 
                of the United States does not, including in--
                            (i) Arlington, Virginia;
                            (ii) Boston, Massachusetts;
                            (iii) Charlotte, North Carolina;
                            (iv) Cleveland, Ohio;
                            (v) Denver, Colorado;
                            (vi) Los Angeles, California;
                            (vii) New Orleans, Louisiana;
                            (viii) Philadelphia, Pennsylvania;
                            (ix) Portland, Oregon; and
                            (x) St. Louis, Missouri;
            (3) the Small Business Jobs Act of 2010 (15 U.S.C. 631 
        note) increased the maximum loan size under the 2 largest 
        export loan programs administered by the Small Business 
        Administration to $5,000,000, which could cover approximately 
        80 percent of all small business export loans currently 
        guaranteed by taxpayers through the Export-Import Bank of the 
        United States;
            (4) the export loan programs administered by the Small 
        Business Administration and the export loan programs 
        administered the Export-Import Bank of the United States are--
                    (A) duplicative of each other, except for the 
                Export Credit Insurance Program of the Export-Import 
                Bank of the United States; and
                    (B) under the current structure, competing against 
                each other for small business clients; and
            (5) the Export Credit Insurance Program of the Export-
        Import Bank of the United States is a vital component of export 
        loan programs.
    (c) Declaration of Policy.--It is hereby declared to be the policy 
of this Act--
            (1) that, should the statutory authority for the export 
        loan programs administered by the Export-Import Bank of the 
        United States lapse, the Small Business Administration shall 
        serve the small business clients of the Export-Import Bank of 
        the United States under existing statutory authority of the 
        Small Business Act (15 U.S.C. 631 et seq.);
            (2) to create an Export Credit Insurance Program within the 
        Small Business Administration similar to the Export Credit 
        Insurance Program of the Export-Import Bank of the United 
        States; and
            (3) to ensure that small business exporters are served by 
        the programs of the Small Business Administration.

SEC. 3. EXPORT CREDIT INSURANCE PROGRAM.

    Section 22 of the Small Business Act (15 U.S.C. 649) is amended--
            (1) by redesignating subsection (l) as subsection (m); and
            (2) by inserting after subsection (k) the following:
    ``(l) Export Credit Insurance Program.--
            ``(1) In general.--The Administrator shall establish a 
        program under which the Administration shall provide insurance 
        for the exports of small business concerns, including insurance 
        against nonpayment by international buyers.
            ``(2) Regulations.--Not later than 90 days after the date 
        of enactment of this subsection, the Administrator shall 
        promulgate regulations to carry out the program established 
        under paragraph (1), which shall be, to the maximum extent 
        practicable, substantially similar to the Export Credit 
        Insurance Program of the Export-Import Bank of the United 
        States, as in effect on the day before the date of enactment of 
        this subsection.''.

Ex Output:

Ensuring Small Businesses Can Export Act of 2015 This bill declares that it is the policy of this Act:   that, should the statutory authority for the export loan programs administered by the Export-Import Bank of the United States lapse, the Small Business Administration (SBA) shall serve the Bank's small business clients under existing statutory authority of the Small Business Act;  to create an SBA Export Credit Insurance Program similar to the Bank's; and  to ensure that small business exporters are served by SBA programs.   The bill also amends the Small Business Act to require the SBA to establish a program to provide insurance for the exports of small businesses, including insurance against nonpayment by international buyers.