TASK DEFINITION: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Stonewall National Historic Site 
Establishment Act''.

SEC. 2. FINDINGS AND PURPOSE.

    (a) Findings.--The Congress finds that--
            (1) the Stonewall National Historic Landmark in New York 
        City, designated in 2000, commemorates the site of the citizen 
        uprising of June 28-July 3, 1969, that inspired the modern 
        Lesbian, Gay, Bisexual, and Transgender (LGBT) civil rights 
        movement in America;
            (2) the Stonewall uprising became the major catalyst for 
        change in the self-awareness of the LGBT community, as well as 
        in the perception and acceptance of LGBT individuals within the 
        United States, and now represents to the Nation and the world 
        the struggle for LGBT civil rights; and
            (3) the Stonewall National Historic Landmark, within the 
        Greenwich Village Historic District, consists of the former 
        Stonewall Inn at 51-53 Christopher Street, that was raided by 
        police on June 28, 1969, as well as Christopher Park, 
        Christopher Street, Grove Street, Gay Street, Waverly Place, 
        Greenwich Avenue, Sixth Avenue, and West 10th Street between 
        Sixth Avenue and Seventh Avenue South, which are all associated 
        with the uprising.
    (b) Purpose.--The purposes of this Act are--
            (1) to help preserve, protect, and interpret the site of 
        the Stonewall uprising for the benefit of present and future 
        generations; and
            (2) to enhance understanding of the discrimination against 
        LGBT individuals that led to the Stonewall uprising and of the 
        ongoing struggle to achieve civil rights.

SEC. 3. DEFINITIONS.

    In this Act:
            (1) National historic site.--The term ``National Historic 
        Site'' means the Stonewall National Historic Site in New York 
        City, New York, authorized to be established as a unit of the 
        National Park System under section 4(a) of this Act.
            (2) Map.--The term ``Map'' means the map entitled 
        ``Stonewall National Historic Site, Proposed Boundary'', 
        numbered 668/129,921, and dated September 2015.
            (3) City of new york.--The term ``City'' means the 
        government of the City of New York in the State of New York.
            (4) Secretary.--The term ``Secretary'' means the Secretary 
        of the Interior.
            (5) State.--The term ``State'' means the State of New York.

SEC. 4. STONEWALL NATIONAL HISTORIC SITE.

    (a) Establishment.--
            (1) In general.--Subject to paragraph (2), there is 
        established in the State a unit of the National Park System to 
        be known as the ``Stonewall National Historic Site''.
            (2) Conditions for establishment.--The National Historic 
        Site shall not be established as a unit of the National Park 
        System until the date on which the Secretary has determined 
        that--
                    (A) the Secretary has acquired sufficient land or 
                an interest in land within the boundary of the National 
                Historic Site to constitute a manageable unit, as 
                determined by the Secretary; and
                    (B) the Secretary has entered into a written 
                agreement with the City, as authorized and described in 
                subsection (c).
    (b) Boundary.--
            (1) In general.--The boundary of the National Historic Site 
        shall be identical to the boundary of the Stonewall National 
        Historic Landmark, as generally depicted on the Map.
            (2) Availability of map.--The Map shall be available for 
        public inspection in the appropriate offices of the National 
        Park Service, Department of the Interior.
    (c) Agreement.--The Secretary is authorized to enter into an 
agreement with the City that delineates the respective roles and 
responsibilities of the National Park Service and the City in the 
operation, maintenance, and interpretation of the National Historic 
Site.
    (d) Publication of Notice.--Not later than 60 days after the date 
on which the conditions in subsection (a)(2) are satisfied, the 
Secretary shall publish in the Federal Register notice of the 
establishment of the National Historic Site as a unit of the National 
Park System.
    (e) Land Acquisition.--The Secretary is authorized to acquire by 
donation, purchase with donated or appropriated funds from a willing 
seller, or exchange--
            (1) lands or interests in land within the boundary of the 
        National Historic Site; and
            (2) lands or interests in land in the vicinity of the 
        National Historic Site for the purpose of providing park 
        administration and visitor service facilities, as determined by 
        the Secretary.
    (f) Administration.--
            (1) In general.--The Secretary shall administer the 
        National Historic Site in accordance with this Act and with the 
        laws generally applicable to units of the National Park System, 
        including--
                    (A) the National Park Service Organic Act (section 
                100101(a), chapter 1003, and sections 100751(a), 
                100752, 100753 and 102101 of title 54, United States 
                Code); and
                    (B) chapter 3201 of title 54, United States Code.
            (2) Cooperative agreements.--
                    (A) In general.--The Secretary may enter into 
                cooperative agreements with the State, City, units of 
                local government, organizations, or individuals to 
                further the purposes of this Act.
                    (B) Cost-sharing requirement.--
                            (i) Federal share.--The Federal share of 
                        the total cost of any activity carried out 
                        under this paragraph shall not exceed 50 
                        percent.
                            (ii) Form of non-federal share.--The non-
                        Federal share of the cost of carrying out an 
                        activity under this paragraph may be in the 
                        form of in-kind contributions or goods or 
                        services, fairly valued.
    (g) General Management Plan.--Not later than 3 years after the date 
on which funds are made available to carry out this section, the 
Secretary, in consultation with the City, shall prepare a general 
management plan for the National Historic Site in accordance with 
section 100502 of title 54, United States Code.

SOLUTION: Stonewall National Historic Site Establishment Act This bill establishes the Stonewall National Historic Site in New York as a unit of the National Park System.  The boundary of the Historic Site shall be identical to that of the Stonewall National Historic Landmark.  The Department of the Interior may enter into an agreement with New York City, New York, delineating the respective roles and responsibilities of the National Park Service and New York City in operating, maintaining, and interpreting the Historic Site.  Interior shall prepare a general management plan for the Historic Site. 

PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Hudson River Valley Special Resource 
Study Act''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Secretary.--The term ``Secretary'' means the Secretary 
        of the Interior.
            (2) Study area.--The term ``study area''--
                    (A) means the portion of the Hudson River that 
                flows from Rodgers Island at Fort Edward to the 
                southern-most boundary of Westchester County, New York; 
                and
                    (B) includes any relevant sites and landscapes 
                within the counties in New York that abut the area 
                described in subparagraph (A).

SEC. 3. FINDINGS.

    Congress finds as follows:
            (1) The Hudson River Valley possesses important and unique 
        cultural, historical, natural, recreational and scenic 
        resources that have been central to the development and 
        sustainment of our Nation.
            (2) The Hudson River Valley encompasses a rich array of 
        sensitive natural resources ranging from the River itself and 
        its vast estuarine district, to its wetlands, refuges, parks, 
        forests, farmlands, preserves, cliffs, mountains, and valleys.
            (3) The Hudson River and its tributaries are home to a 
        number of rare and threatened animal species, habitats, and 
        plants.
            (4) The Hudson River Valley is home to myriad biking, 
        heritage, pedestrian and scenic trail systems on the eastern 
        and western sides of the River that are now connected by the 
        Walkway Over the Hudson bridge, which has been designated as a 
        National Recreation Trail.
            (5) Throughout history, the Hudson River Valley has played 
        a central role in the development of our nation, starting from 
        the vibrant Native American communities that first inhabited 
        the land, to Henry Hudson's voyage up the river later named for 
        him in the vessel Half Moon in 1609 and later with the American 
        Revolution, the debate on our Constitution, the first 
        successful steamboat voyage by Robert Fulton in 1807, the 
        Industrial Revolution, and the modern labor and environmental 
        movements.
            (6) The Hudson River Valley gave birth to important 
        movements in American art, architecture and literature through 
        the work of Andrew Jackson Downing, Alexander Jackson Davis, 
        Thomas Cole, Frederick Church and their associates from the 
        Hudson River School of Art, as well as through authors such as 
        Washington Irving, James Fenimore Cooper, William Cullen 
        Bryant, Susan and Anna Warner, and John Burroughs.
            (7) The depictions and descriptions of the Hudson River 
        Valley's renowned scenery and natural resources played a 
        central role in the recognition of the value of the landscape 
        and the development of an American esthetic and environmental 
        ideal.
            (8) A 1996 National Park Service study called the Hudson 
        River Valley ``the landscape that defined America.''.
            (9) The Hudson River Valley has been the subject of 
        multiple State and Federal inventories, studies, and plans that 
        should greatly assist a National Park Service special resource 
        study.

SEC. 4. AUTHORIZATION OF STUDY.

    (a) In General.--As soon as funds are made available for this 
purpose, the Secretary shall complete a study of the Hudson River 
Valley in the State of New York to evaluate--
            (1) the national significance of the area; and
            (2) the suitability and feasibility of designating the area 
        as a unit of the National Park System.
    (b) Study Guidelines.--In conducting the study under subsection 
(a), the Secretary shall--
            (1) use the criteria for the study of areas for potential 
        inclusion in the National Park System included in section 8 of 
        Public Law 91-383, as amended by section 303 of the National 
        Parks Omnibus Management Act of 1998 (Public Law 105-391; 112 
        Stat. 3501); and
            (2) closely examine park unit models, in particular 
        national river and recreation areas, as well as other landscape 
        protection models, that--
                    (A) encompass large areas of non-Federal lands 
                within their designated boundaries;
                    (B) foster public and private collaborative 
                arrangements for achieving National Park Service 
                objectives; and
                    (C) protect and respect the rights of private land 
                owners.

SEC. 5. REPORT.

    Not later than 24 months after the date that funds are first made 
available for this purpose, the Secretary shall submit to the Committee 
on Energy and Natural Resources of the Senate and the Committee on 
Natural Resources of the House of Representatives a report on the 
findings, conclusions, and recommendations of the study authorized by 
this Act.

SOLUTION: Hudson River Valley Special Resource Study Act - Directs the Secretary of the Interior to complete a study of the Hudson River Valley in the state of New York to evaluate: (1) the national significance of the part of the Hudson River that flows from Rodgers Island at Fort Edward to the southern-most boundary of Westchester County, New York, including any relevant sites and landscapes within counties in New York that abut that part of the River (the study area); and (2) the suitability and feasibility of designating the study area as a unit of the National Park System.

PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Municipal Bond Market Support Act of 
2008''.

SEC. 2. MODIFICATION OF SMALL ISSUER EXCEPTION TO TAX-EXEMPT INTEREST 
              EXPENSE ALLOCATION RULES FOR FINANCIAL INSTITUTIONS.

    (a) Increase in Limitation.--Subparagraphs (C)(i), (D)(i), and 
(D)(iii)(II) of section 265(b)(3) of the Internal Revenue Code of 1986 
are each amended by striking ``$10,000,000'' and inserting 
``$30,000,000''.
    (b) Repeal of Aggregation Rules Applicable to Small Issuer 
Determination.--Paragraph (3) of section 265(b) of such Code is amended 
by striking subparagraphs (E) and (F).
    (c) Election To Apply Limitation at Borrower Level.--Paragraph (3) 
of section 265(b) of such Code, as amended by subsection (b), is 
amended by adding at the end the following new subparagraph:
                    ``(E) Election to apply limitation on amount of 
                obligations at borrower level.--
                            ``(i) In general.--An issuer, the proceeds 
                        of the obligations of which are to be used to 
                        make or finance eligible loans, may elect to 
                        apply subparagraphs (C) and (D) by treating 
                        each borrower as the issuer of a separate 
                        issue.
                            ``(ii) Eligible loan.--For purposes of this 
                        subparagraph--
                                    ``(I) In general.--The term 
                                `eligible loan' means one or more loans 
                                to a qualified borrower the proceeds of 
                                which are used by the borrower and the 
                                outstanding balance of which in the 
                                aggregate does not exceed $30,000,000.
                                    ``(II) Qualified borrower.--The 
                                term `qualified borrower' means a 
                                borrower which is an organization 
                                described in section 501(c)(3) and 
                                exempt from taxation under section 
                                501(a) or a State or political 
                                subdivision thereof.
                            ``(iii) Manner of election.--The election 
                        described in clause (i) may be made by an 
                        issuer for any calendar year at any time prior 
                        to its first issuance during such year of 
                        obligations the proceeds of which will be used 
                        to make or finance one or more eligible 
                        loans.''.
    (d) Inflation Adjustment.--Paragraph (3) of section 265(b) of such 
Code, as amended by subsections (b) and (c), is amended by adding at 
the end the following new subparagraph:
                    ``(F) Inflation adjustment.--In the case of any 
                calendar year after 2009, the $30,000,000 amounts 
                contained in subparagraphs (C)(i), (D)(i), 
                (D)(iii)(II), and (E)(ii)(I) shall each be increased by 
                an amount equal to--
                            ``(i) such dollar amount, multiplied by
                            ``(ii) the cost-of-living adjustment 
                        determined under section 1(f)(3) for such 
                        calendar year, determined by substituting 
                        `calendar year 2008' `for calendar year 1992' 
                        in subparagraph (B) thereof.
                Any increase determined under the preceding sentence 
                shall be rounded to the nearest multiple of 
                $100,000.''.
    (e) Effective Date.--The amendments made by this section shall 
apply to obligations issued after December 31, 2008.

SEC. 3. DE MINIMIS SAFE HARBOR EXCEPTION FOR TAX-EXEMPT INTEREST 
              EXPENSE OF FINANCIAL INSTITUTIONS AND BROKERS.

    (a) Financial Institutions.--Subsection (b) of section 265 of the 
Internal Revenue Code of 1986 is amended by adding at the end the 
following new paragraph:
            ``(7) De minimis exception.--Paragraph (1) shall not apply 
        to any financial institution if the portion of the taxpayer's 
        holdings of tax-exempt securities is less than 2 percent of the 
        taxpayer's assets.''.
    (b) Brokers.--Subsection (a) of section 265 of the Internal Revenue 
Code of 1986 is amended by adding at the end the following new 
paragraph:
            ``(7) De minimis exception.--Paragraph (2) shall not apply 
        to any broker (as defined in section 6045(c)(1)) if the portion 
        of the taxpayer's holdings of tax-exempt securities is less 
        than 2 percent of the taxpayer's assets.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.

SOLUTION:
Municipal Bond Market Support Act of 2008 - Amends Internal Revenue Code provisions relating to the small issuer exemption from interest expense allocation rules for financial institutions to: (1) increase from $10 to $30 million the annual limit on small issuers of tax-exempt municipal bonds; (2) allow an inflation adjustment to such increased limit amount after 2009; (3) repeal aggregation rules relating to the determination of small issuer eligibility; (4) allow small issuers an election to treat borrowers separately for purposes of issuance limitations; and (5) allow financial institutions and brokers to hold up to 2% of their assets in tax-exempt securities without affecting their interest expense tax deduction.