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

Example Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Depressed Smaller Cities Improvement 
Act of 1993''.

SEC. 2. INTERAGENCY TASK FORCE ON DEPRESSED SMALLER CITIES.

    (a) Establishment.--There is hereby established an interagency task 
force to be known as the Interagency Task Force on Depressed Smaller 
Cities (in this Act referred to as the ``Task Force'').
    (b) Membership.--
            (1) In general.--The Task Force shall be composed of 9 
        members as follows:
                    (A) The Secretary of Housing and Urban Development, 
                or the Secretary's delegate.
                    (B) The Secretary of Health and Human Services, or 
                the Secretary's delegate.
                    (C) The Attorney General of the United States, or 
                the Attorney General's delegate.
                    (D) The Secretary of Commerce, or the Secretary's 
                delegate.
                    (E) 5 members appointed by the Speaker of the House 
                of Representatives, not later than the expiration of 
                the 6-month period beginning on the date of the 
                enactment of this Act, who shall be public officials of 
                depressed smaller cities.
            (2) Geographical diversity.--No 2 members appointed under 
        paragraph (1)(E) may be residents of the same State.
    (c) Terms.--Members of the Task Force shall be appointed for the 
life of the Task Force. Any vacancy in the Task Force shall be filled 
in the manner in which the original appointment was made.
    (d) Chairperson.--The Secretary of Housing and Urban Development 
shall be the chairperson of the Task Force.
    (e) Prohibition of Compensation.--Members of the Task Force shall 
not receive pay or other compensation on account of their service on 
the Task Force.
    (f) Travel Expenses.--Each member of the Task Force shall receive 
travel expenses, including per diem in lieu of subsistence, in 
accordance with sections 5702 and 5703 of title 5, United States Code.

SEC. 3. DUTIES OF TASK FORCE.

    (a) Study.--The Task Force shall carry out a study of the problems 
affecting depressed smaller cities, including problems involving crime, 
the environment, housing, labor and unemployment, education, health, 
and poverty. The study shall examine and analyze Federal, State, and 
local programs to alleviate such problems, the coordination or lack of 
coordination among such programs, and the effectiveness and efficiency 
of such programs, and shall determine the proper scope and extent of 
Federal assistance and programs to reduce the problems affecting such 
cities. In conducting the study, the Task Force shall consult with 
officials of local governments to obtain and provide advice regarding 
measures that may be implemented before the completion of the study to 
alleviate such problems and to coordinate the ongoing efforts of the 
local governments with the various Federal agencies.
    (b) Reports.--
            (1) Annual reports.--
                    (A) In general.--The Task Force shall submit a 
                report to the Committee on Banking, Finance and Urban 
                Affairs of the House of Representatives and the 
                Committee on Banking, Housing, and Urban Affairs of the 
                Senate, not less than annually until the termination of 
                the Task Force under section 5.
                    (B) Contents.--Each report shall describe the 
                activities of the Task Force during the previous year 
                in conducting the study under subsection (a) and the 
                findings and determinations of the Task Force resulting 
                from the study. Each report shall also--
                            (i) identify the most pervasive problems 
                        affecting depressed smaller cities and the 
                        extent of such problems;
                            (ii) describe any efforts to alleviate such 
                        problems that the Task Force considers to have 
                        been effective and efficient;
                            (iii) identify the immediate and long-term 
                        needs of such cities in alleviating such 
                        problems;
                            (iv) identify any existing Federal programs 
                        that may be useful to such cities in 
                        alleviating such problems;
                            (v) include an agenda of actions to be 
                        taken to alleviate such problems, which 
                        describes the priorities of such actions; and
                            (vi) include recommendations of the Task 
                        Force for actions and legislation by the 
                        Federal Government to assist State and local 
                        governments to alleviate the problems affecting 
                        depressed smaller cities.
            (2) Final report.--Not later than the termination of the 
        Task Force under section 5, the Task Force shall submit to the 
        Committees referred to in paragraph (1)(A) a final report 
        describing the study conducted by the Task Force, the 
        activities of the Task Force, and the findings, conclusions, 
        and recommendations of the Task Force upon the completion of 
        the study.
    (c) Meetings.--To carry out the study under subsection (a) and 
prepare the reports under subsection (b), the Task Force shall meet not 
less than quarterly in each year.

SEC. 4. IDENTIFICATION OF DEPRESSED SMALLER CITIES.

    For purposes of this Act, the term ``depressed smaller city'' means 
any unit of general local government that, as determined by the Task 
Force for the most recent 12-month period for which statistics are 
available, is classified as a municipality by the United States Bureau 
of the Census, has a population of less than 50,000 and more than 
5,000, and meets any 3 of the following 5 criteria:
            (1) Unemployment.--The total rate of unemployment for the 
        unit of general local government (as determined by appropriate 
        available data) is 12 percent or more.
            (2) Crime rate.--For the unit of general local government, 
        the ratio of the aggregate number of violent crimes in the unit 
        (according to statistics compiled by the Federal Bureau of 
        Investigation) to the population of the unit, is 5 percent or 
        greater.
            (3) Lack of municipal health facilities.--The unit of 
        general local government does not own or operate any municipal 
        health facilities.
            (4) Income level.--The median annual household income for 
        households residing in the unit of general local government (as 
        determined by the Bureau of the Census of the Department of 
        Commerce) does not exceed $15,000.
            (5) Environmental problems.--The unit of general local 
        government has substantial environmental problems resulting 
        from industrial activities, as determined by the Task Force.

SEC. 5. TERMINATION.

    The Commission shall terminate upon the expiration of the 3-year 
period beginning on the date of the appointment of the entire 
membership of the Task Force under section 2(b).

SEC. 6. AUTHORIZATION OF APPROPRIATIONS.

    There is authorized to be appropriated to carry out this Act 
$750,000, which shall be available during fiscal years 1995, 1996, and 
1997.
Example Output: Depressed Smaller Cities Improvement Act of 1993 - Establishes the Interagency Task Force on Depressed Smaller Cities to study problems affecting depressed smaller cities and to determine the proper scope and extent of Federal assistance and programs to reduce the problems affecting such cities. 
Authorizes appropriations.

Example Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Futures Investor Protection Act''.

SEC. 2. FUTURES INVESTORS PROTECTION FUND.

    (a) Futures Investor Protection Corporation.--
            (1) Creation and membership.--
                    (A) Creation.--There is established a nonprofit 
                corporation to be known as the ``Futures Investor 
                Protection Corporation'' (in this Act referred to as 
                the ``FIPC''), which shall not be an agency or 
                establishment of the United States Government.
                    (B) Membership.--
                            (i) Members of fipc.--The FIPC shall be a 
                        membership corporation the members of which 
                        shall be all persons registered under the 
                        Commodity Exchange Act with the Commission as a 
                        futures commission merchant, other than persons 
                        whose principal business, in the determination 
                        of the FIPC, taking into account business of 
                        affiliated entities, is conducted outside the 
                        United States and its territories and 
                        possessions.
                            (ii) Commission review; additional 
                        members.--Subparagraphs (B) and (C) of section 
                        3(a)(2) of SIPA shall apply with respect to 
                        determinations of the FIPC in the same way the 
                        subparagraphs apply with respect to 
                        determinations of the SIPC and to brokers and 
                        dealers referred to in such subparagraph (D).
                            (iii) Disclosure.--Section 3(a)(2)(D) of 
                        SIPA shall apply to futures commission 
                        merchants in the same way the section applies 
                        to brokers and dealers referred to in such 
                        section.
            (2) Powers.--The FIPC shall have all the powers conferred 
        on the SIPC.
            (3) Board of directors.--
                    (A) Functions.--The FIPC shall have a Board of 
                Directors which, subject to the provisions of this Act, 
                shall determine the policies which shall govern the 
                operations of FIPC.
                    (B) Number and appointment.--The Board of Directors 
                shall consist of 7 persons as follows:
                            (i) 1 director shall be appointed by the 
                        Secretary of the Treasury from among the 
                        officers and employees of the Department of the 
                        Treasury.
                            (ii) 1 director shall be appointed by the 
                        Board of Governors of the Federal Reserve 
                        System from among the officers and employees of 
                        that Board.
                            (iii) 5 directors shall be appointed by the 
                        President, by and with the advice and consent 
                        of the Senate, as follows:
                                    (I) 3 directors shall be selected 
                                from among persons who are associated 
                                with, and representative of different 
                                aspects of, the futures industry, not 
                                all of whom shall be from the same 
                                geographical area of the United States.
                                    (II) 2 directors shall be selected 
                                from the general public from among 
                                persons who are not associated with a 
                                futures commission merchant or a 
                                contract market, or similarly 
                                associated with any self-regulatory 
                                organization or other futures industry 
                                group, and who have not had any such 
                                association during the 2 years 
                                preceding appointment.
                    (C) Chairman and vice chairman.--The President 
                shall designate a Chairman and Vice Chairman from among 
                those directors appointed under subparagraph 
                (B)(iii)(II).
                    (D) Terms.--
                            (i) In general.--Except as provided in 
                        clauses (ii) and (iii), each director shall be 
                        appointed for a term of 3 years.
                            (ii) Initially appointed members.--Of the 
                        directors first appointed under subparagraph 
                        (B)--
                                    (I) 2 shall hold office for a term 
                                expiring on December 31, 2017;
                                    (II) 2 shall hold office for a term 
                                expiring on December 31, 2018; and
                                    (III) 3 shall hold office for a 
                                term expiring on December 31, 2019,
                        as designated by the President at the time they 
                        take office. The designation shall be made in a 
                        manner which will assure that no 2 persons 
                        appointed under the authority of the same 
                        subclause of subparagraph (B)(iii) shall have 
                        terms which expire simultaneously.
                            (iii) Vacancies.--A vacancy in the Board 
                        shall be filled in the same manner as the 
                        original appointment was made. Any director 
                        appointed to fill a vacancy occurring prior to 
                        the expiration of the term for which the 
                        predecessor of the director was appointed shall 
                        be appointed only for the remainder of the 
                        term. A director may serve after the expiration 
                        of the term for which appointed until the 
                        successor of the director has taken office.
                    (E) Compensation.--All matters relating to 
                compensation of directors shall be as provided in the 
                bylaws of the FIPC.
            (4) Meetings of board; bylaws and rules.--Subsections (d) 
        and (e) of section 3 of SIPA shall apply with respect to the 
        FIPC and the Commission in the same way the subsections apply 
        with respect to the SIPC and the Securities and Exchange 
        Commission.
    (b) FIPC Fund.--
            (1) In general.--The FIPC shall establish, and make 
        deposits into and payments from, an ``FIPC fund'' (in this Act 
        referred to as the ``fund'') in the same manner in which the 
        SIPC has established, and is authorized to make deposits into 
        and payments from, the SIPC fund.
            (2) Assessments.--The FIPC shall impose on its members 
        assessments subject to the same rules that apply to the 
        imposition by the SIPC of assessments on the members of the 
        SIPC.
    (c) Other Provisions.--Sections 5 through 16 of the SIPA shall 
apply with respect to the FIPC and the members, directors, officers, 
and employees of the FIPC, the Commission, the FIPC fund, futures 
commission merchants and their affiliates, futures contracts, futures 
transactions, customers, and debtors in the same way the sections apply 
with respect to the SIPC and the members, directors, officers, and 
employees of the SIPC, the Securities and Exchange Commission, the SIPC 
fund, persons registered as brokers or dealers (as defined in section 
16(12) of the SIPA) and their affiliates, securities, securities 
transactions, customers (as defined in section 16(2) of the SIPA), and 
debtors (as defined in section 16(5) of the SIPA), respectively.
    (d) Definitions.--In this section:
            (1) Commission.--The term ``Commission'' means the 
        Commodity Futures Trading Commission.
            (2) Contract market.--The term ``contract market'' means a 
        board of trade designated as a contract market under the 
        Commodity Exchange Act.
            (3) Futures contract.--The term ``futures contract'' means 
        a contract of sale of a commodity for future delivery, within 
        the meaning of the Commodity Exchange Act.
            (4) Futures commission merchant.--The term ``futures 
        commission merchant'' has the meaning given the term in section 
        1a(28) of the Commodity Exchange Act.
            (5) SIPA.--The term ``SIPA'' means the Security Investors 
        Protection Act of 1970.
            (6) SIPC.--The term ``SIPC'' means the Security Investors 
        Protection Corporation.
            (7) SIPC fund.--The term ``SIPC fund'' means the fund 
        established under section 4(a)(1) of the SIPA.

SEC. 3. SUITABILITY RULES.

    (a) In General.--The Commodity Exchange Act (7 U.S.C. 1 et seq.) is 
amended by inserting after section 4t the following:

``SEC. 4U. SUITABILITY RULES.

    ``(a) In General.--
            ``(1) Recommendations must be suitable for the customer.--A 
        futures commission merchant shall not recommend a transaction 
        or investment strategy involving a contract of sale of a 
        commodity for future delivery, unless the futures commission 
        merchant has a reasonable basis to believe that the transaction 
        or investment strategy is suitable for the customer, based on 
        the information obtained through the reasonable diligence of 
        the futures commission merchant to ascertain the customer's 
        investment profile. A customer's investment profile includes, 
        but is not limited to, the customer's age, other investments, 
        financial situation and needs, tax status, investment 
        objectives, investment experience, investment time horizon, 
        liquidity needs, risk tolerance, and any other information the 
        customer may disclose to the futures commission merchant in 
        connection with the recommendation.
            ``(2) Safe harbor in certain cases.--A futures commission 
        merchant is deemed to comply with paragraph (1) in the case of 
        a customer with an institutional account, if--
                    ``(A) the futures commission merchant has a 
                reasonable basis to believe that the customer is 
                capable of evaluating investment risks independently, 
                both in general and with regard to particular 
                transactions and investment strategies involving a 
                contract of sale of a commodity for future delivery; 
                and
                    ``(B) the customer affirmatively indicates that it 
                is exercising independent judgment in evaluating the 
                recommendations of the futures commission merchant.
    ``(b) Applicability With Respect to Certain Agents.--If a customer 
with an institutional account has delegated decisionmaking authority to 
an agent, subsection (a) shall be applied with respect to the agent.
    ``(c) Institutional Account Defined.--In this section, the term 
`institutional account' means the account of--
            ``(1) a bank, savings and loan association, insurance 
        company or registered investment company;
            ``(2) an investment adviser registered with the Securities 
        and Exchange Commission under section 203 of the Investment 
        Advisers Act or with a State securities commission (or any 
        agency or office performing like functions); or
            ``(3) any other person (whether a natural person, 
        corporation, partnership, trust or otherwise) with total assets 
        of at least $50,000,000.
    ``(d) Penalties.--The Commission may impose one or more of the 
following sanctions on a person found by the Commission to have 
violated this section or to have neglected or refused to comply with an 
order issued by the Commission under this section:
            ``(1) Censure.
            ``(2) A fine.
            ``(3) Expulsion of the person from, or revocation of the 
        membership of the person in, a registered entity.
            ``(4) Suspension for a definite period or a period 
        contingent on the performance of a particular act, or 
        revocation, of the registration of the person under this Act 
        with the Commission as a futures commission merchant.
            ``(5) Suspension or bar of the person from association with 
        any other futures commission merchant.
            ``(6) A temporary or permanent cease and desist order 
        against the person.
            ``(7) Any other fitting sanction.''.
    (b) Effective Date.--Within 6 months after the date of the 
enactment of this Act, the Commodity Futures Trading Commission shall 
issue regulations for the implementation of the amendment made by 
subsection (a).

SEC. 4. REVIEW OF PROOF OF CLAIMS RULES.

    (a) In General.--The Commodity Futures Trading Commission shall 
review the guidelines for establishing account classes and determining 
the basis for pro rata shares under, and the sample claim form set 
forth in, part 190 of title 17, Code of Federal Regulations, and 
consider the desirability of allowing use of a set date for valuation 
purposes rather than the date of actual liquidation of positions.
    (b) Report to the Congress.--Within 1 year after the date of the 
enactment of this Act, the Commodity Futures Trading Commission shall 
submit to the Congress a written report that contains the findings of 
the Commission with respect to the matters referred to in subsection 
(a), and includes such changes to the regulations in such part as the 
Commission deems appropriate.
Example Output: Futures Investor Protection Act This bill establishes the Futures Investor Protection Corporation (FIPC) as a nonprofit membership corporation for all futures commission merchants registered with the Commodity Futures Trading Commission (CFTC). In general, the FIPC's powers and duties shall mirror those of the Security Investors Protection Corporation (the nonprofit membership corporation for registered broker-dealers). In addition, the bill amends the Commodity Exchange Act to establish suitability rules with respect to&nbsp;recommendations&nbsp;by a&nbsp;futures commission merchant to a customer. The CFTC must review certain guidelines regarding proof of claims, as specified by the bill. 

Example Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Fairness in Drug Sentencing Act of 
2007''.

SEC. 2. POWDER AND CRACK COCAINE SENTENCING DISPARITY REDUCTION.

    (a) Controlled Substances Act.--Section 401(b)(1) of the Controlled 
Substances Act (21 U.S.C. 841(b)(1)) is amended--
            (1) in subparagraph (A)(iii), by striking ``50 grams'' and 
        inserting ``250 grams''; and
            (2) in subparagraph (B)(iii), by striking ``5 grams'' and 
        inserting ``25 grams''.
    (b) Controlled Substances Import and Export Act.--Section 1010(b) 
of the Controlled Substances Import and Export Act (21 U.S.C. 960(b)) 
is amended--
            (1) in paragraph (1)(C), by striking ``50 grams'' and 
        inserting ``250 grams''; and
            (2) in paragraph (2)(C), by striking ``5 grams'' and 
        inserting ``25 grams''.

SEC. 3. CHANGE IN PENALTY FOR POSSESSION OF CRACK COCAINE.

    Section 404(a) of the Controlled Substances Act (21 U.S.C. 844(a)) 
is amended by striking ``Notwithstanding the preceding sentence,'' and 
all that follows through ``the mixture or substance exceeds 1 gram.''.

SEC. 4. INCREASED EMPHASIS ON CERTAIN AGGRAVATING FACTORS RELATED TO 
              SERIOUSNESS OF THE OFFENSE.

    Pursuant to its authority under section 994 of title 28, United 
States Code, the United States Sentencing Commission shall review and, 
if appropriate, amend the sentencing guidelines to ensure that the 
penalties for an offense involving trafficking of a controlled 
substance provide tiered enhancements for the involvement of a 
dangerous weapon or violence, including, if appropriate--
            (1) an increase to the existing enhancement for possession 
        of a dangerous weapon;
            (2) an enhancement for the use or brandishment of a 
        dangerous weapon;
            (3) an enhancement for the use, or threatened use, of 
        violence; and
            (4) any other enhancement the Commission considers 
        necessary.

SEC. 5. INCREASED EMPHASIS ON CERTAIN FACTORS RELATED TO THE 
              CULPABILITY OF THE OFFENDER.

    (a) In General.--Pursuant to its authority under section 994 of 
title 28, United States Code, the United States Sentencing Commission 
shall review and, if appropriate, amend the sentencing guidelines to 
ensure that the penalties for an offense involving trafficking of a 
controlled substance adequately take into account the culpability of 
the defendant and the role of the defendant in the offense.
    (b) Considerations.--In carrying out this section, the United 
States Sentencing Commission shall consider--
            (1) whether enhancements should be added, either to the 
        existing enhancements for aggravating role or otherwise, that 
        take into account aggravating factors associated with the 
        offense, including--
                    (A) whether the defendant committed the offense as 
                part of a pattern of criminal conduct engaged in as a 
                livelihood;
                    (B) whether the defendant maintained an 
                establishment for the manufacture or distribution of 
                the controlled substance;
                    (C) whether the defendant distributed a controlled 
                substance to an individual under the age of 18 years or 
                a pregnant individual;
                    (D) whether the defendant involved an individual 
                under the age of 18 years or a pregnant individual in 
                the offense;
                    (E) whether the defendant manufactured or 
                distributed the controlled substance in a location 
                described in section 409(a) or section 419(a) of the 
                Controlled Substances Act (21 U.S.C. 849(a) or 860(a));
                    (F) whether the defendant bribed, or attempted to 
                bribe, a Federal, State, or local law enforcement 
                officer in connection with the offense;
                    (G) whether the defendant was involved in the 
                importation into the United States of the controlled 
                substance;
                    (H) whether the defendant committed the offense 
                after previously being convicted of a felony controlled 
                substances offense; and
                    (I) any other factor the Commission considers 
                necessary; and
            (2) whether adjustments should be added, either to the 
        existing guideline for mitigating role or otherwise, that take 
        into account mitigating factors associated with the offense, 
        including--
                    (A) whether the defendant had minimum knowledge of 
                the illegal enterprise;
                    (B) whether the defendant received little or no 
                compensation in connection with the offense; and
                    (C) whether the defendant acted on impulse, fear, 
                or friendship when the defendant was otherwise unlikely 
                to commit such an offense.

SEC. 6. EMERGENCY AUTHORITY AND DEADLINE FOR COMMISSION ACTION.

    The United States Sentencing Commission shall promulgate the 
guidelines, policy statements, or amendments provided for in this Act 
as soon as practicable, and in any event not later than 90 days after 
the date of enactment of this Act, in accordance with the procedure set 
forth in section 21(a) of the Sentencing Act of 1987 (28 U.S.C. 994 
note), as though the authority under that Act had not expired.
Example Output:
Fairness in Drug Sentencing Act of 2007 - Amends the Controlled Substances Act and the Controlled Substances Import and Export Act to increase (by a factor of five) the amount of a controlled substance or mixture containing a cocaine base (i.e., crack cocaine) required for the imposition of mandatory minimum prison terms for trafficking in such controlled substance.

Eliminates the five-year mandatory minimum prison term for first-time possession of crack cocaine.

Directs the U.S. Sentencing Commission to review and amend, if appropriate, its sentencing guidelines for trafficking in a controlled substance to reflect the use of a dangerous weapon or violence in such crime and the culpability and role of the defendant in such crime.