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 ``Banking Privacy Act of 1999''.

SEC. 2. PERSONAL INFORMATION SHARING.

    (a) Depository Institutions and Subsidiaries of Depository 
Institutions.--Section 18 of the Federal Deposit Insurance Act (12 
U.S.C. 1828) is amended by adding at the end the following new 
subsection:
    ``(t) Personal Information Sharing Requirements.--
            ``(1) Information sharing prohibited if customer opts 
        out.--Notwithstanding any other provision of law and except as 
        permitted under paragraph (5), an insured depository 
        institution and a subsidiary of a depository institution may 
        not disclose or transfer customer information relating to any 
        customer to any other person, including an affiliate of the 
        depository institution, unless--
                    ``(A) the customer to whom such information relates 
                has been provided with notice in accordance with 
                paragraph (2); and
                    ``(B) the customer has not provided a written 
                directive (including a transmission by e-mail, 
                facsimile, or other form of electronic communication) 
                to the insured depository institution or subsidiary, at 
                any time before the close of business on the 6th 
                business day before such disclosure or transfer, that 
                such information shall not be disclosed or transferred, 
                except when specifically authorized by the customer in 
                connection with and pertaining to a specific 
                transaction with the depository institution or 
                subsidiary.
            ``(2) Notice.--
                    ``(A) In general.--The notice referred to in 
                paragraph (1)(A) shall fully and fairly disclose, in 
                accordance with regulations which the Federal banking 
                agencies shall jointly prescribe, what information is 
                being disclosed or transferred, the policy of the 
                insured depository institution or subsidiary of an 
                insured depository institution with regard to 
                information sharing, and the right of the customer to 
                prohibit the disclosure or transfer of such 
                information.
                    ``(B) Form of notice.--
                            ``(i) In general.--The regulations 
                        prescribed pursuant to subparagraph (A) shall 
                        require that the notice required under such 
                        subparagraph--
                                    ``(I) be prominently displayed on a 
                                document which is separate from any 
                                other document;
                                    ``(II) have the term `Privacy 
                                Notice' in prominent typeface at the 
                                top of the notice.
                            ``(ii) Notice requirements.--
                                    ``(I) Mailing.--If the notice 
                                required under subparagraph (A) is 
                                mailed to the customer, the notice 
                                shall be mailed separately from any 
                                other statement, document, or notice 
                                mailed to the customer.
                                    ``(II) In person.--If the notice 
                                required under subparagraph (A) is 
                                disclosed to the customer in person by 
                                an officer, director, or agent of the 
                                depository institution or subsidiary 
                                thereof, the officer, employee, or 
                                agent shall obtain the written 
                                acknowledgement of the customer of the 
                                receipt of such notice separately from 
                                any other signature or written 
                                acknowledgment of the customer.
            ``(3) Customer information defined.--For purposes of this 
        subsection, the term `customer information' means any 
        information acquired from a customer of the insured depository 
        institution that is personally identifiable to the customer, 
        including information relating to transactions, balances, 
        maturity dates, payouts, and payout dates, and transaction or 
        experience information.
            ``(4) Reasonable opportunity to respond to notice.--In 
        order to provide any customer of an insured depository 
        institution or any subsidiary of an insured depository 
        institution with reasonable opportunity to respond to any 
        notice referred to in paragraph (1)(A), the prohibition 
        contained in paragraph (1) on the disclosure or transfer of any 
        customer information relating to such customer to any other 
        person, including an affiliate, shall continue during the 30-
        day period beginning on the date the notice referred to in such 
        paragraph was sent or delivered to such customer, unless the 
        customer has authorized such disclosure or transfer.
            ``(5) Exceptions.--Paragraph (1) shall not apply to the 
        disclosure or transfer of customer information--
                    ``(A) in connection with processing a specific 
                financial transaction that the customer to whom the 
                information relates has authorized, if--
                            ``(i) the customer has been informed that 
                        any such transaction will necessarily involve 
                        the disclosure or transfer of such information; 
                        and
                            ``(ii) the person to whom such information 
                        is transferred or disclosed is subject to a 
                        legal or contractual obligation not to use such 
                        information for any purpose other than in 
                        connection with facilitating the transaction;
                    ``(B) in connection with any routine financial 
                transaction which does not involve marketing of 
                services or the sale of customer information, if the 
                person to whom such information is transferred or 
                disclosed is subject to a legal or contractual 
                obligation not to use such information for any purpose 
                other than in connection with effectuating the 
                transaction;
                    ``(C) in connection with clearing checks, 
                processing credit transactions or electronic fund 
                transfers, or providing mailing services, if the person 
                to whom such information is transferred or disclosed is 
                subject to a legal or contractual obligation not to use 
                such information for any purpose other than in 
                connection with clearing or processing the transaction 
                or providing the service;
                    ``(D) to a governmental, regulatory, or self-
                regulatory authority having jurisdiction over the 
                insured depository institution for examination, 
                compliance, or other authorized purposes;
                    ``(E) to a court of competent jurisdiction;
                    ``(F) to a consumer reporting agency, as defined in 
                section 603(f) of the Fair Credit Reporting Act, for 
                use solely in accordance with such Act;
                    ``(G) in the case of a default by the customer on 
                an obligation to the depository institution or 
                subsidiary, to a debt collector, as defined in section 
                803(6) of the Fair Debt Collection Practices Act, 
                counsel, or other entity involved in debt collection, 
                for use solely in accordance with such Act;
                    ``(H) in the case of any claim or litigation 
                between the customer and a depository institution or 
                subsidiary, to a counsel or other person involved in 
                the resolution of the dispute;
                    ``(I) that is not personally identifiable to the 
                customer or is public information; or
                    ``(J) that is necessary to prevent or investigate 
                fraudulent or unlawful acts which the depository 
                institution or subsidiary has a good faith belief may 
                occur or may have occurred.''.
    (b) Bank Holding Companies and Affiliates of Bank Holding 
Companies.--Section 5 of the Bank Holding Company Act of 1956 (12 
U.S.C. 1844) is amended by adding at the end the following new 
subsection:
    ``(g) Personal Information Sharing Requirements.--
            ``(1) Information sharing prohibited if customer opts 
        out.--Notwithstanding any other provision of law and except as 
        permitted under paragraph (5), a bank holding company and an 
        affiliate of a bank holding company (other than a depository 
        institution subsidiary or subsidiary of such depository 
        institution) may not disclose or transfer customer information 
        relating to any customer to any other person, including another 
        affiliate of the bank holding company, unless--
                    ``(A) the customer to whom such information relates 
                has been provided with notice in accordance with 
                paragraph (2); and
                    ``(B) the customer has not provided a written 
                directive (including a transmission by e-mail, 
                facsimile, or other form of electronic communication) 
                to the bank holding company or affiliate, at any time 
                before the close of business on the 6th business day 
                before such disclosure or transfer, that such 
                information shall not be disclosed or transferred, 
                except when specifically authorized by the customer in 
                connection with and pertaining to a specific 
                transaction with the bank holding company or affiliate.
            ``(2) Notice.--
                    ``(A) In general.--The notice referred to in 
                paragraph (1)(A) shall fully and fairly disclose, in 
                accordance with regulations which the Board shall 
                prescribe, what information is being disclosed or 
                transferred, the policy of the bank holding company or 
                affiliate of a bank holding company with regard to 
                information sharing, and the right of the customer to 
                prohibit the disclosure or transfer of such 
                information.
                    ``(B) Form of notice.--
                            ``(i) In general.--The regulations 
                        prescribed pursuant to subparagraph (A) shall 
                        require that the notice required under such 
                        subparagraph--
                                    ``(I) be prominently displayed on a 
                                document which is separate from any 
                                other document:
                                    ``(II) have the term `Privacy 
                                Notice' in prominent typeface at the 
                                top of the notice.
                            ``(ii) Notice requirements.--
                                    ``(I) Mailing.--If the notice 
                                required under subparagraph (A) is 
                                mailed to the customer, the notice 
                                shall be mailed separately from any 
                                other statement, document, or notice 
                                mailed to the customer.
                                    ``(II) In person.--If the notice 
                                required under subparagraph (A) is 
                                disclosed to the customer in person by 
                                an officer, director, or agent of the 
                                bank holding company or affiliate 
                                thereof, the officer, employee, or 
                                agent shall obtain the written 
                                acknowledgement of the customer of the 
                                receipt of such notice separately from 
                                any other signature or written 
acknowledgment of the customer.
            ``(3) Customer information defined.--For purposes of this 
        subsection, the term `customer information' means any 
        information acquired from a customer of the bank holding 
        company or affiliate that is personally identifiable to the 
        customer, including information relating to transactions, 
        balances, maturity dates, payouts, and payout dates, and 
        transaction or experience information.
            ``(4) Reasonable opportunity to respond to notice.--In 
        order to provide any customer of a bank holding company or any 
        affiliate of a bank holding company with reasonable opportunity 
        to respond to any notice referred to in paragraph (1)(A), the 
        prohibition contained in paragraph (1) on the disclosure or 
        transfer of any customer information relating to such customer 
        to any other person, including another affiliate, shall 
        continue during the 30-day period beginning on the date the 
        notice referred to in such paragraph was sent or delivered to 
        such customer, unless the customer has authorized such 
        disclosure or transfer.
            ``(5) Exceptions.--Paragraph (1) shall not apply to the 
        disclosure or transfer of customer information--
                    ``(A) in connection with processing a specific 
                financial transaction that the customer to whom the 
                information relates has authorized, if--
                            ``(i) the customer has been informed that 
                        any such transaction will necessarily involve 
                        the disclosure or transfer of such information; 
                        and
                            ``(ii) the person to whom such information 
                        is transferred or disclosed is subject to a 
                        legal or contractual obligation not to use such 
                        information for any purpose other than in 
                        connection with facilitating the transaction;
                    ``(B) in connection with any routine financial 
                transaction which does not involve marketing of 
                services or the sale of customer information, if the 
                person to whom such information is transferred or 
                disclosed is subject to a legal or contractual 
                obligation not to use such information for any purpose 
                other than in connection with effectuating the 
                transaction;
                    ``(C) in connection with clearing checks, 
                processing financial transactions or electronic fund 
                transfers, or providing mailing services, if the person 
                to whom such information is transferred or disclosed is 
                subject to a legal or contractual obligation not to use 
                such information for any purpose other than in 
                connection with clearing or processing the transaction 
                or providing the service;
                    ``(D) to a governmental, regulatory, or self-
                regulatory authority having jurisdiction over the 
                insured depository institution for examination, 
                compliance, or other authorized purposes;
                    ``(E) to a court of competent jurisdiction;
                    ``(F) to a consumer reporting agency, as defined in 
                section 603(f) of the Fair Credit Reporting Act, for 
                use solely in accordance with such Act;
                    ``(G) in the case of a default by the customer on 
                an obligation to the bank holding company or affiliate, 
                to a debt collector, as defined in section 803(6) of 
                the Fair Debt Collection Practices Act, counsel, or 
                other entity involved in debt collection, for use 
                solely in accordance with such Act;
                    ``(H) in the case of any claim or litigation 
                between the customer and a depository institution or 
                subsidiary, to counsel or any other person involved in 
                the resolution of the dispute;
                    ``(I) that is not personally identifiable to the 
                customer or is public information; or
                    ``(J) that is necessary to prevent or investigate 
                fraudulent or unlawful acts which the bank holding 
                company or affiliate has a good faith belief may occur 
                or may have occurred.''.

Ex Output:
Banking Privacy Act of 1999 - Amends the Federal Deposit Insurance Act and the Bank Holding Company Act of 1956 to mandate customer notice and written consent as a prerequisite to personal information sharing between institutions under their purview (an insured depository institution or bank holding company, respectively) and other persons or affiliates. 
Delineates notice and consent procedures.


Ex Input:
SECTION 1. ALEXANDER CREEK VILLAGE RECOGNITION.

    The Alaska Native Claims Settlement Act (43 U.S.C. 1601 et seq.) is 
amended by adding at the end the following:

``SEC. 43. ALEXANDER CREEK VILLAGE RECOGNITION.

    ``(a) Recognition of the Village of Alexander Creek.--Subject to 
the limitations of this section and notwithstanding section 1432(d) of 
the Alaska National Interest Lands Conservation Act (Public Law 96-487) 
to the contrary, Alexander Creek, located within Township 15N, Range 
7W, Seward Meridian, Alaska, is and shall be recognized as an eligible 
Native village under section 11(b)(3) of this Act.
    ``(b) Definitions.--For the purposes of this section, the following 
terms apply:
            ``(1) The term `agency' includes--
                    ``(A) any instrumentality of the United States;
                    ``(B) any element of an agency; and
                    ``(C) any wholly owned or mixed-owned corporation 
                of the United States Government identified in chapter 
                91 of title 31, United States Code.
            ``(2) The term `conservation system unit' has the meaning 
        given that term in the Alaska National Interest Lands 
        Conservation Act.
            ``(3) The term `Alexander Creek' means Alexander Creek 
        Incorporated, an Alaska Native Group corporation, organized 
        pursuant to this Act.
            ``(4) The term `property' has the meaning given that term 
        in Public Law 94-204 (43 U.S.C. 1611 note).
            ``(5) The term `Region' means Cook Inlet Region 
        Incorporated, an Alaska Native Regional Corporation, which is 
        the appropriate Regional Corporation for Alexander Creek under 
        section 1613(h) of this Act.
            ``(6) The term `CIRI Property Account' means the account in 
        the Treasury established by the Secretary of the Treasury 
        pursuant to section 12(b) of Public Law 94-204 (43 U.S.C. 1611 
        note), referred to in that section as the `Cook Inlet Region, 
        Incorporated property account'.
    ``(c) Establishment.--(1) The Secretary of the Treasury, in 
consultation with the Secretary of the Interior, shall establish an 
account in the Treasury to be known as the `Alexander Creek account' 
which shall be funded in the full amount provided for by this section 
within 24 months of the date of enactment of this section
    ``(2) Funds in the Alexander Creek account shall--
            ``(A) be available to Alexander Creek for bidding on and 
        purchasing property sold at public sale, subject to paragraph 
        (3); and
            ``(B) remain available until expended.
    ``(3)(A) Alexander Creek may use funds in the Alexander Creek 
account to bid as any other bidder for property in Alaska at any public 
sale by an agency and may purchase such property in accordance with 
applicable laws and regulations of the agency offering the property for 
sale.
    ``(B) In conducting a transaction described in subparagraph (A), an 
agency shall accept, in the same manner as cash, any amount tendered 
from the Alexander Creek account. The Secretary of the Treasury shall 
adjust the balance of the Alexander Creek account to reflect the 
transaction.
    ``(C) The Secretary of the Treasury, in consultation with the 
Secretary of the Interior, shall establish procedures for the following 
transactions related to the Alexander Creek account:
            ``(i) Receipt of deposits.
            ``(ii) Receipt of deposits into escrow when an escrow is 
        required for the sale of property.
            ``(iii) Reinstatement to the Alexander Creek account of any 
        unused escrow deposits in the event that a sale of property is 
        not consummated.
    ``(d) Amount.--(1) The initial balance of the Alexander Creek 
account shall be the fair market value as determined by the appraisal 
conducted under subsection (g) of the surface estate of the 
approximately 61,440 acres of deficiency selections previously made by 
Alexander Creek, which comprise the following parcels of land:
                    ``T. 2 T., R. 19 W., secs. 3 and 4.
                    ``T. 2 T., R. 19 W., sec. 10.
                    ``T. 2 T., R. 19 W., secs. 14 and 15.
                    ``T. 3 T., R. 19 W., sec. 30.
                    ``T. 2 T., R. 20 W., secs. 20 through 23.
                    ``T. 3 T., R. 20 W., sec. 10.
                    ``T. 3 T., R. 20 W., sec. 14.
                    ``T. 3 T., R. 20 W., secs. 24 and 25.
                    ``T. 1 T., R. 26 W., sec. 31.
                    ``T. 2 T., R. 27 W., secs. 3 and 4.
                    ``T. 2 T., R. 29 W., secs. 3 through 5.
                    ``T. 2 S., R. 19 W., sec. 18.
                    ``T. 2 S., R. 20 W., secs. 12 and 13.
                    ``T. 2 S., R. 20 W., sec. 24.
                    ``T. 2 S., R. 20 W., secs. 26 and 27.
                    ``T. 2 S., R. 20 W., secs. 33 and 34.
                    ``T. 3 S., R. 23 W., sec. 25.
                    ``T. 6 S., R. 24 W., secs. 1 and 2.
                    ``T. 6 S., R. 24 W., sec. 11.
                    ``T. 6 S., R. 24 W., secs. 18 through 20.
                    ``T. 9 S., R. 27 W., secs. 6 and 7.
                    ``T. 7 S., R. 28 W., sec. 2.
                    ``T. 7 S., R. 28 W., sec. 21.
                    ``T. 7 S., R. 28 W., secs. 28 and 29.
                    ``T. 7 S., R. 28 W., secs. 31 through 33.
                    ``T. 8 S., R. 28 W., secs. 5 through 7.
                    ``T. 9 S., R. 28 W., sec. 1.
                    ``T. 9 S., R. 28 W., sec. 12.
                    ``T. 7 S., R. 29 W., sec. 12.
                    ``T. 8 S., R. 29 W., sec. 1.
                    ``T. 8 S., R. 29 W., secs. 3 and 4.
                    ``T. 8 S., R. 29 W., secs. 8 through 20.
                    ``T. 2 N., R. 20 W., sec. 13.
                    ``T. 1 N., R. 27 W., sec. 8.
                    ``T. 1 N., R. 27 W., sec. 16.
                    ``T. 1 N., R. 27 W., secs. 20 through 23.
                    ``T. 1 N., R. 27 W., sec. 25.
                    ``T. 1 N., R. 27 W., sec. 36.
                    ``T. 1 N., R. 28 W., secs. 1 and 2.
                    ``T. 1 N., R. 28 W., secs. 8 through 11.
                    ``T. 1 N., R. 28 W., secs. 16 through 18.
                    ``T. 3 S., R. 23 W., sec. 8.
                    ``T. 3 S., R. 23 W., sec. 26.
                    ``T. 3 S., R. 23 W., sec. 33.
                    ``T. 6 S., R. 24 W., secs. 27 and 28.
                    ``T. 7 S., R. 28 W., secs. 4 through 7.
                    ``T. 7 S., R. 28 W., secs. 10 and 11.
                    ``T. 7 S., R. 28 W., secs. 14 and 15.
                    ``T. 7 S., R. 28 W., sec. 22.
                    ``T. 8 S., R. 29 W., sec. 5.
                    ``T. 2 N., R. 20 W., sec. 30.
                    ``T. 3 N., R. 20 W., sec. 2.
                    ``T. 3 N., R. 20 W., sec. 13.
                    ``T. 4 N., R. 20 W., sec. 33.
                    ``T. 2 N., R. 27 W., secs. 10 through 12.
                    ``T. 11 N., R. 28 W., secs. 16 through 27.
                    ``T. 2 N., R. 30 W., sec. 12.
                    ``T. 1 S., R. 20 W., sec. 4.
                    ``T. 3 S., R. 23 W., sec. 17.
                    ``T. 3 S., R. 23 W., sec. 28.
                    ``T. 6 S., R. 24 W., sec. 14.
                    ``T. 6 S., R. 24 W., sec. 21.
                    ``T. 6 S., R. 24 W., sec. 26.
                    ``T. 5 S., R. 26 W., secs. 29 and 30.
                    ``T. 7 S., R. 28 W., sec. 1.
                    ``T. 7 S., R. 29 W., sec. 1.
                    ``T. 7 S., R. 29 W., sec. 11.
                    ``T. 7 S., R. 29 W., secs. 14 through 16.
                    ``T. 7 S., R. 29 W., secs. 21 and 22.
                    ``T. 2 N., R. 19 W., sec. 7.
                    ``T. 2 N., R. 19 W., sec. 18.
    ``(2) The balance of the CIRI Property Account shall be increased 
by an amount equal to the fair market value of the subsurface estate of 
the approximately 61,440 acres of deficiency selections made by 
Alexander Creek, as described in paragraph (1): Provided, That the 
value of such subsurface estate shall not be less than 61,440 
multiplied by the acre equivalent value of the Region's entitlement 
lands under paragraph (2) of the second section of 12(b)(7)(iv) of the 
Act of January 2, 1976 (Public Law 94-204). The funds added to the CIRI 
Property Account pursuant to this subsection shall be segregated from 
all other funds therein by a method to be mutually agreed by CIRI and 
the Secretary of the Treasury.
    ``(e) Land Exchange.--The Secretary of the Interior shall enter 
into negotiations with Alexander Creek, no later than 180 days after 
the date of the enactment of this Act, to attempt to conclude, under 
the authority of section 22(f), a land exchange to acquire lands not 
within any conservation system unit from the State of Alaska or the 
Matanuska-Susitna Borough under the same procedures set forth in 
section 22(f) to enable Alexander Creek to obtain additional public 
lands within Alexander Creek's original withdrawal area in Alaska, as 
identified by Alexander Creek. The subsurface to lands conveyed to 
Alexander Creek under subsection (d) shall be conveyed, without 
consideration, to the Region and shall be treated for all purposes as 
subsurface land conveyed to the Region under section 14(f). Any land 
exchange to be undertaken pursuant to this subsection must be approved 
by Alexander Creek, and must be completed no later than 36 months after 
the date of the enactment of this Act.
    ``(f) Adjustment in Account.--If a conveyance of surface estate is 
made to Alexander Creek pursuant to subsection (e), the Alexander Creek 
account shall be reduced by the amount of the actual acres conveyed 
multiplied by the average value per acre of the surface acres appraised 
under subsection (g). If a conveyance of subsurface estate is made to 
the Region pursuant to subsection (d), the CIRI Property Account shall 
be reduced by the amount of the actual acres conveyed multiplied by the 
average value per acre of the subsurface acres appraised under 
subsection (g).
    ``(g) Appraisal.--(1)(A) Subject to subsection (d)(2), the 
Secretary shall determine the amount to be deposited into the Alexander 
Creek and CIRI Property accounts by separately appraising, on a 
reasonable basis, based on all available evidence, the fair market 
value, as of the date of the enactment of this section, of the surface 
and subsurface of each section selected as a separate parcel and 
considering that `public interest' use may be the highest and best use 
of such parcels.
    ``(B) Alexander Creek and the Region shall each have the 
opportunity to present evidence of value to the Secretary solely with 
respect to the respective estates involved, comprising surface estate 
for Alexander Creek and subsurface estate for the Region. The Secretary 
shall provide Alexander Creek and the Region with a preliminary draft 
of the appraisal. Alexander Creek and the Region shall have a 
reasonable and sufficient opportunity to comment on the appraisal.
    ``(2) The Secretary shall forward a certified copy of the appraisal 
of their separate and respective estates each to Alexander Creek, and 
the Region.
    ``(h) Implementation.--(1) Alexander Creek may assign to any person 
or corporation without restriction any or all of the Alexander Creek 
account upon written notification to the Secretary of the Treasury and 
the Secretary of the Interior. In the event that such an assignment is 
made to the Region, on notice from Alexander Creek to the Secretary of 
the Treasury and the Secretary of the Interior, and subject to the 
written consent of the Region in its sole and absolute discretion, the 
amount of such assignment shall be added to or made a part of the CIRI 
Property Account, and may be used in the same manner as other funds in 
that account.
    ``(2) Except for such lands as Alexander Creek has received prior 
to enactment of this section, and such lands it is entitled to recover 
as a Group Corporation, upon completion by the Secretary of the 
Interior of the appraisal process pursuant to subsection (g), and 
notification to the Secretary from Alexander Creek that Alexander Creek 
accepts the results of the appraisal process, Alexander Creek shall be 
deemed to have accepted the terms of this section in lieu of any other 
land entitlement it could have received as a village pursuant to this 
Act, including, without limitation, any lands it would have received 
pursuant to section 12(b). Such acceptance shall satisfy all claims 
Alexander Creek had or may have had against the United States on the 
date of the enactment of this section.
    ``(3) Any land acquired by Alexander Creek with funds from the 
Alexander Creek account shall be deemed to be a conveyance pursuant to 
this Act.
    ``(i) Treatment of Amounts From the Alexander Creek Account.--The 
Secretary of the Treasury and the heads of agencies shall administer 
sales pursuant to this section in the same manner as is provided for 
any other Native village authorized by law as of the date of the 
enactment of this section (including the use of similar accounts for 
bidding on and purchasing property sold for public sale).
    ``(j) Limitation on Agents' and Attorneys' Fees.--No more than 2.5 
percent of payments received by or on behalf of Alexander Creek under 
this section may be paid to or received by any agent or attorney for 
services rendered in connection with obtaining such payment, any 
contract to the contrary notwithstanding. Any person who violates this 
subsection shall be guilty of a misdemeanor and shall be subject to a 
fine in the amount provided in title 18, United States Code.
    ``(k) Shareholder Participation.--Alexander Creek shall notify each 
member of the Native village recognized under this section that, upon 
the effective date of this provision, such members shall cease to 
receive benefits from the Region as at-large shareholders pursuant to 
section 7(m), and that all future resource payments from the Region 
shall be made to the Village Corporation pursuant to section 7(j). The 
Region shall not be liable under any State, Federal or local law, or 
under State or Federal common law, for damages arising out of or 
related to the cessation of payments to such individuals under section 
7(m) pursuant to this section.
    ``(l) Statutory Construction.--Nothing in this section shall be 
construed to--
            ``(1) limit, alter, violate, breach, or otherwise affect 
        the rights of any party under a contract, settlement agreement, 
        or land exchange entered into prior to enactment of this 
        section between Alexander Creek and any party, or one or more 
        parties to any contract, settlement, agreement, or land 
        exchange predicated upon Alexander Creek's Native village 
        status under this Act; or
            ``(2) diminish, reduce, or modify the acreage entitlement 
        to which Alexander Creek became entitled to as a Group 
        Corporation.''.

Ex Output:
Amends the Alaska Native Claims Settlement Act (ANCSA) to recognize the village of Alexander Creek, Alaska, as eligible for land and benefits under the Act, notwithstanding specified provisions of the Alaska National Interest Lands Conservation Act.

Establishes in the Treasury the Alexander Creek account and makes the account's funds available to Alexander Creek Incorporated for purchasing property sold at public sale. Increases the existing CIRI Property Account's balance by the subsurface value of Alexander Creek's selections.

Directs the Secretary of the Interior to negotiate for a land exchange to acquire the surface estate in lands not in any conservation system unit from Alaska or the Mantanuska-Susitna Borough to enable Alexander Creek to obtain additional public lands in Alexander Creek's original withdrawal area in Alaska.

Requires the subsurface estate to the lands conveyed to Alexander Creek to be conveyed to CIRI.

Deems Alexander Creek, on completion (and acceptance by Alexander Creek) of an appraisal, to have accepted the terms of this Act in lieu of any other land entitlement it could have received as a village under ANCSA. Requires that such acceptance satisfy all claims of Alexander Creek against the United States.

Requires Alexander Creek to notify each Alexander Creek member that the members will cease to receive benefits from CIRI as at-large shareholders and that all future resource payments from the Region will be made to the Village Corporation. Relieves CIRI from liability under any state, federal, or local law for damages related to that payment cessation.


Ex Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Independent Contractor Tax Fairness 
Act of 1995''.

SEC. 2. CLARIFICATION OF EMPLOYMENT STATUS OF CERTAIN INDIVIDUALS; 
              CODIFICATION OF SECTION 530 SAFE HARBOR RULES.

    (a) General Rule.--Chapter 25 of the Internal Revenue Code of 1986 
(relating to general provisions applicable to employment taxes) is 
amended by adding at the end the following new section:

``SEC. 3510. DETERMINATION OF EMPLOYMENT STATUS.

    ``(a) Certain Individuals Not Treated As Employees.--
            ``(1) In general.--For purposes of this title, in the case 
        of an individual who meets the requirements of one of the 
        subparagraphs of paragraph (2) and who performs services 
        pursuant to a qualified agreement--
                    ``(A) such individual shall not be treated as an 
                employee, and
                    ``(B) the person for whom such services are 
                performed (hereafter in this subsection referred to as 
                the `service-recipient') shall not be treated as an 
                employer.
            ``(2) Requirements.--
                    ``(A) Realization of profit or loss.--An individual 
                meets the requirements of this subparagraph if the 
                individual can realize a profit or loss as a result of 
                the individual's services (in addition to the profit or 
                loss ordinarily realized by employees) performed for 
                the service-recipient.
                    ``(B) Separate principal place of business.--An 
                individual meets the requirements of this subparagraph 
                if the individual--
                            ``(i) maintains his principal place of 
                        business other than at a place of business of 
                        the service-recipient, and
                            ``(ii) has a significant investment in 
                        facilities or tools which are used by such 
                        individual to perform services of the type 
                        performed for the service-recipient and which 
                        are not typically maintained by employees.
                    ``(C) Making services available to the general 
                public.--An individual meets the requirements of this 
                subparagraph if--
                            ``(i) the services performed by the 
                        individual for the service-recipient are made 
                        available to the general public on a regular 
                        and consistent basis, and
                            ``(ii) the individual has performed such 
                        services other than as an employee (determined 
                        without regard to this subparagraph) for at 
                        least 1 other service-recipient during such 
                        year or the preceding calendar year.
                    ``(D) Paid on commission basis, etc.--An individual 
                meets the requirements of this subparagraph if--
                            ``(i) the individual is paid exclusively on 
                        a commission basis, and
                            ``(ii)(I) maintains his principal place of 
                        business other than at a place of business of 
                        the service-recipient, or
                            ``(II) pays fair market rental value for 
                        his principal place of business if such place 
                        is at a place of business of the service-
                        recipient.
            ``(3) Qualified agreement.--For purposes of this 
        subsection, the term `qualified agreement' means a written 
        agreement--
                    ``(A) which specifies the services to be provided, 
                the duration those services are to be provided, and the 
                remuneration to be paid for those services,
                    ``(B) which specifies that--
                            ``(i) the service provider reasonably 
                        believes that such provider meets the 
                        requirements under this section for being 
                        treated not as an employee with respect to such 
                        services and will not be treated by the 
                        service-recipient as an employee with respect 
                        to such services for Federal tax purposes, and
                            ``(ii) the service provider is aware of the 
                        Federal tax obligations resulting from such 
                        treatment, and
                    ``(C) which specifies that the service-recipient 
                will maintain a separate accounting of the income and 
                expenses related to such agreement.
            ``(4) Consequence of failing to meet test.--Failure to meet 
        the requirements of this subsection shall not be construed as 
        indicating that an individual is an employee of the service-
        recipient for purposes of this title.
    ``(b) Termination of Certain Employment Tax Liability.--
            ``(1) In general.--If--
                    ``(A) for purposes of employment taxes, the 
                taxpayer did not treat an individual as an employee for 
                any period, and
                    ``(B) in the case of periods after December 31, 
                1978, all Federal tax returns (including information 
                returns) required to be filed by the taxpayer with 
                respect to such individual for such period are filed on 
                a basis consistent with the taxpayer's treatment of 
                such individual as not being an employee,
        then for purposes of applying such taxes for such period with 
        respect to the taxpayer, the individual shall be deemed not to 
        be an employee unless the taxpayer had no reasonable basis for 
        not treating such individual as an employee.
            ``(2) Statutory standards providing one method of 
        satisfying the requirements of paragraph (1).--For purposes of 
        paragraph (1), a taxpayer shall in any case be treated as 
        having a reasonable basis for not treating an individual as an 
        employee for a period if the taxpayer's treatment of such 
        individual for such period was in reasonable reliance on any of 
        the following:
                    ``(A) Judicial precedent, published rulings, 
                technical advice with respect to the taxpayer, or a 
                letter ruling to the taxpayer.
                    ``(B) A past Internal Revenue Service audit of the 
                taxpayer in which there was no assessment attributable 
                to the treatment (for employment tax purposes) of the 
                individuals holding positions substantially similar to 
                the position held by this individual.
                    ``(C) Long-standing recognized practice of a 
                significant segment of the industry in which such 
                individual was engaged.
            ``(3) Subsequent treatment by taxpayer of individual as an 
        employee.--If--
                    ``(A) an individual is deemed not to be an employee 
                of the taxpayer under paragraph (1) for any prior 
                period, and
                    ``(B) such individual is treated by the taxpayer as 
                an employee for employment tax purposes for any 
                subsequent period,
        then, notwithstanding paragraph (1), for purposes of applying 
        such taxes for such prior period with respect to the taxpayer, 
        the individual shall be deemed not to be an employee.
            ``(4) Prospective termination of prior audit safe harbor.--
                    ``(A) In general.--If, after an employment tax 
                audit (and after providing the taxpayer an opportunity 
                for an appeal within the Internal Revenue Service), the 
                taxpayer is notified in writing by the Internal Revenue 
                Service that an individual (or individuals holding 
                substantially similar positions) should be treated as 
                employees for purposes of the employment taxes, 
                paragraph (2)(B) shall not apply with respect to such 
                individuals for any calendar month beginning more than 
                180 days after the date such notice is sent. The 
                preceding sentence shall not apply if the audit 
                referred to paragraph (2)(B) included an examination 
                for employment tax purposes of individuals holding 
                positions substantially similar to the positions held 
                by the individual involved.
                    ``(B) Employment tax audit.--For purposes of 
                subparagraph (A), the term `employment tax audit' means 
                any audit by the Internal Revenue Service which--
                            ``(i) was conducted solely for employment 
                        tax purposes, and
                            ``(ii) included an examination for 
                        employment tax purposes of individuals holding 
                        positions substantially similar to the 
                        positions held by the individual involved.
            ``(5) Clarification of significant segment of industry.--In 
        no event shall the `significant segment' requirement under 
        paragraph (2)(C) be interpreted to require a showing of the 
        practice of more than 25 percent of an industry. In applying 
        the preceding sentence, the Secretary shall allow taxpayers 
        maximum latitude in determining which industry is the 
        appropriate industry for purposes of applying such paragraph to 
        the taxpayer.
    ``(c) Definitions.--For purposes of this section--
            ``(1) Employment tax.--The term `employment tax' means any 
        tax imposed by this subtitle.
            ``(2) Employment status.--The term `employment status' 
        means the status of an individual, under the usual common law 
        rules applicable in determining the employer-employee 
        relationship, as an employee or as an independent contractor 
        (or other individual who is not an employee).''
    (b) Rules To Apply for Income Tax Purposes.--Part I of subchapter B 
of chapter 1 of such Code is amended by adding at the end the following 
new section:

``SEC. 69. DETERMINATION OF EMPLOYMENT STATUS.

    ``For purposes of this subtitle, an individual shall not be treated 
as an employee of a person for any period if, under the rules of 
section 3510, such individual is treated as not being an employee of 
such person for such period.''
    (c) Conforming Amendment.--Section 530 of the Revenue Act of 1978 
is hereby repealed.
    (d) Clerical Amendments.--
            (1) The table of sections for chapter 25 of such Code is 
        amended by adding at the end the following new item:

                              ``Sec. 3510. Determination of employment 
                                        status.''
            (2) The table of sections for part I of subchapter B of 
        chapter 1 of such Code is amended by adding at the end the 
        following new item:

                              ``Sec. 69. Determination of employment 
                                        status.''
    (e) Effective Dates.--
            (1) In general.--Except as provided in paragraph (2), the 
        amendments made by this section shall take effect beginning on 
        the first day of the first calendar year beginning after the 
        date of the enactment of this Act.
            (2) Repeal of section 530.--The amendment made by 
        subsection (c) shall apply to periods in calendar years 
        beginning after the date of the enactment of this Act.
            (3) Consistency rules.--In determining whether the 
        requirements of subsection (b)(1)(B) of section 3510 of the 
        Internal Revenue Code of 1986 (as added by subsection (a)) are 
        met with respect to any individual described in section 530(d) 
        of the Revenue Act of 1978 (as in effect on the day before the 
        date of the enactment of this Act), there shall be disregarded 
        any period for which such individual (or any other individual 
        holding a substantially similar position) was treated as an 
        employee by reason of such section 530(d).

SEC. 3. COMPLIANCE PROVISIONS.

    (a) Increase in Penalty on Service-Recipient for Failure To Furnish 
Form 1099's to Independent Contractors.--
            (1) In general.--Section 6722 of the Internal Revenue Code 
        of 1986 (relating to failure to file correct payee statements) 
        is amended by adding at the end the following new subsection:
    ``(d) Increase in Penalty With Respect to Statements for 
Services.--In the case of any statement required by section 6041(d) or 
section 6041A(e) to show payments for services, subsection (a) shall be 
applied by substituting `$75' for `$50' and subsection (c) shall be 
applied by substituting `$125' for `$100'.''
            (2) Effective date.--The amendment made by paragraph (1) 
        shall apply to statements the due date for which (determined 
        without regard to extensions) is after December 31, 1996.
    (b) Separate Listing of Payments Reported on Form 1099's.--The 
Secretary of the Treasury or his delegate shall modify the forms for 
returns of income tax so as to require the reporting for information 
purposes on a separate line of each amount for which the taxpayer 
received a statement under section 6041(d) or section 6041A(e) showing 
payments for services.
    (c) Information to Service-Recipients With Respect to Independent 
Contractors.--The Secretary of the Treasury or his delegate shall take 
such steps as the Secretary determines appropriate to inform service-
recipients of--
            (1) their obligations with respect to independent 
        contractors,
            (2) the modifications made by this Act in the rules for 
        determining whether or not an individual is an employee, and
            (3) the increase made by this Act in the penalties for 
        failures to furnish correct statements required by sections 
        6041(d) and section 6041A(e) of the Internal Revenue Code of 
        1986.

SEC. 4. DEPARTMENT OF THE TREASURY REQUIRED TO PROPOSE LEGISLATION.

    Not later than the date which is 180 days after the date of the 
enactment of this Act, the Secretary of the Treasury or his delegate 
shall submit a report to the Congress proposing legislation which 
specifies objectively measurable criteria for determining whether an 
individual (not otherwise treated as not being an employee under 
section 3508 or 3510(a) of the Internal Revenue Code of 1986) is an 
employee for purposes of such Code. It is the intent of the Congress 
that such criteria allow taxpayers maximum latitude in determining 
employment status.

SEC. 5. REPORT ON LATITUDE GIVEN TAXPAYERS IN DETERMINING EMPLOYMENT 
              STATUS.

    Not later than the date which is 1 year after the date of the 
enactment of this Act, the Secretary of the Treasury or his delegate 
shall submit a report to the Congress detailing the efforts being made 
by the Department of the Treasury in giving taxpayers maximum latitude 
in determining employment status under section 3510 of the Internal 
Revenue Code of 1986.

Ex Output:

Independent Contractor Tax Fairness Act of 1995 - Amends the Internal Revenue Code to provide for determining the employment status of individuals as employees for purposes of employment taxes. Requires a written qualified agreement in order for an individual who performs services for another (the service-recipient) to not be treated as an employee and sets forth the following conditions, of which at least one must be met, for the individual to not be treated as an employee and the service-recipient to not be treated as an employer:  (1) the individual can realize a profit or loss as a result of services performed for the service-recipient; (2) the individual maintains a separate principal place of business and has a significant investment in facilities or tools, which are not typically maintained by employees, used to perform services; (3) the services performed by the individual are available to the general public and the individual has performed such services other than as an employee for at least one other service-recipient during the year or the preceding calendar year; or (4) the individual is paid exclusively on a commission basis and maintains his or her principal place of business other than at the service recipient's place of business or pays fair market rental value for his or her principal place of business if such place is the service-recipient's place of business.  Requires the qualified agreement to specify, among other things:  (1) which services will be provided, the duration of such services, and the remuneration to be paid for such services; (2) that the service provider is aware of his or her Federal tax obligations; and (3) that the service-recipient will maintain a separate accounting of the income and expenses related to such agreement. 
Codifies section 530 of the Revenue Act of 1978, with revisions. 
Increases the penalty on service-recipients for failure to furnish information returns on services performed by independent contractors. 
Requires the Secretary of the Treasury to propose legislation to the Congress which specifies objectively measurable criteria for determining whether an individual is an employee.  Declares the intent of the Congress that such criteria allow taxpayers maximum latitude in determining employment status. 
Requires the Secretary to report to the Congress on efforts being made to give taxpayers such latitude.