instruction:
In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
question:
SECTION 1. KOREA VISA WAIVER PILOT PROGRAM.

    (a) Congressional Findings.--The Congress finds that--
            (1) travel and tourism play a major role in reducing the 
        United States unfavorable balance of trade;
            (2) the characteristics of the Korean travel market do not 
        permit long-term planning for longer trips;
            (3) applications for United States visas cannot now be 
        processed in a reasonable period of time;
            (4) the Secretary of State has attempted to solve the 
        problem by adding additional staff to the consular section at 
        the United States Embassy in Seoul;
            (5) unfortunately, these additions have not resulted in any 
        discernable improvement in reducing visa processing delays;
            (6) further, it is unlikely, given the current fiscal 
        environment, to expect funding to be available for further 
        staff additions in sufficient numbers to effect any significant 
        improvement in the time required to process visa applications;
            (7) most of the nations of the South Pacific, Europe, and 
        Canada do not currently require Koreans entering their 
        countries to have a visa, thus providing them with a serious 
        competitive advantage in the tourism industry;
            (8) the United States territory of Guam has been permitted 
        by the United States Government to eliminate visa requirements 
        for Koreans visiting Guam, with resultant impressive increases 
        in travel and tourism from citizens of the Republic of Korea;
            (9) any application under existing procedures to add the 
        Republic of Korea, or any other nation to the group of favored 
        nations exempted from United States visa regulations, would 
        require many years during which time the United States could 
        well lose its competitive advantages in attracting travel and 
        tourism from the Republic of Korea;
            (10) the Republic of Korea, as a gesture of goodwill, has 
        already unilaterally exempted United States tourists who seek 
        to enter the Republic of Korea from the requirement of 
        obtaining a visa; and
            (11) growth in Korean travel to the United States has not 
        kept pace with growth in travel to non-United States 
        destinations, and cumbersome and time-consuming visa processing 
        procedures are widely recognized as the cause of this loss of 
        market share and competitiveness with alternative destinations.
    (b) Pilot Program.--The Secretary of State and the Attorney General 
jointly shall establish a pilot project (in this section referred to as 
the ``pilot program'') within six months of the date of the enactment 
of this Act under which the requirement of paragraph (7)(B)(i)(II) of 
section 212(a) of the Immigration and Nationality Act (8 U.S.C. 
1182(a)(7)(B)(i)(II)) is waived during the pilot program period in the 
case of any alien who meets the following requirements:
            (1) National of pilot program country.--The alien is a 
        national of, and presents a passport issued by, the Republic of 
        Korea. The Republic of Korea is urged to provide machine 
        readable passports to its citizens in the near future.
            (2) Seeking entry as tourist.--The alien is applying for 
        admission to the United States during the pilot program period 
        as a nonimmigrant visitor for pleasure (as described in section 
        101(a)(15)(B) of the Immigration and Nationality Act (8 U.S.C. 
        1101(a)(15)(B))), as part of a group tour to the United States.
            (3) Period of stay.--The alien seeks to stay in the United 
        States for a period of not more than 15 days.
            (4) Executes immigration forms.--The alien before the time 
        of such admission completes such immigration form as the 
        Attorney General shall establish.
            (5) Entry into the united states.--If arriving by sea or 
        air, the alien arrives at the port of entry into the United 
States on a carrier which has entered into an agreement with the 
Immigration and Naturalization Service to guarantee transport of the 
alien out of the United States if the alien is found inadmissible or 
deportable by an immigration officer.
            (6) Not a safety threat.--The alien has been determined not 
        to represent a threat to the welfare, health, safety, or 
        security of the United States.
            (7) No previous violation.--If the alien previously was 
        admitted without a visa under this section, the alien must not 
        have failed to comply with the conditions of any previous 
        admission as such a nonimmigrant.
            (8) Round-trip ticket.--The alien is in possession of a 
        round-trip transportation ticket (unless this requirement is 
        waived by the Attorney General under regulations).
    (c) Waiver of Rights.--An alien may not be provided a waiver under 
the pilot program unless the alien has waived any right--
            (1) to review or appeal under this Act of an immigration 
        officer's determination as to the admissibility of the alien at 
        the port of entry into the United States, or
            (2) to contest, other than on the basis of an application 
        for asylum, any action for deportation against the alien.
    (d) Termination of Authority.--Notwithstanding any other provision 
of this section, the Attorney General and the Secretary of State, 
acting jointly, may terminate the pilot program under this section on 
or after a date which is one year after the date of the establishment 
of the pilot program if--
            (1) during the preceding fiscal year, the overstay rate for 
        nationals of the Republic of Korea entering the United States 
        under the pilot program exceeds the overstay rate of such 
        nationals entering the United States with valid visas; and
            (2) the Attorney General and the Secretary of State have 
        jointly determined that the pilot program is leading to a 
        significant increase in the number of overstays by such 
        nationals.
    (e) Special Bond and Notification Requirements for Tour 
Operators.--
            (1) In general.--Nationals of the Republic of Korea may not 
        enter the United States under the terms of this section unless 
        they are accompanied for the duration of their authorized 
        admission period by a tour operator who has fulfilled the 
        following requirements:
                    (A) The tour operator has posted a bond of $200,000 
                with the Secretary of State.
                    (B) The Secretary of State, under such regulations 
                as the Secretary may prescribe, has approved an 
                application by the tour operator to escort tour groups 
                to the United States.
                    (C) The tour operator provides the name, address, 
                birthdate, passport number, and citizenship of all 
                prospective tour group members to the Secretary of 
                State no less than one business day prior to the 
                departure date of the group, under such regulations as 
                he may prescribe, in order to determine that the 
                prospective travelers do not represent a threat to the 
                welfare, health, safety, and security of the United 
                States.
                    (D) The tour operator excludes from the tour group 
                any person whom the Secretary of State denies 
                permission to travel to the United States.
                    (E) The tour operator provides written 
                certification or other such evidence prescribed by the 
                Secretary of State and Attorney General which documents 
the return to Korea of each tour group member.
            (2) Forfeiture of bonds.--Bonds posted in accordance with 
        this subsection shall be forfeited in whole or in part and a 
        tour operator's authorization to escort tours to the United 
        States may be suspended or revoked if the Secretary of State 
        finds that the tour operator--
                    (A) has failed to disclose a material fact in 
                connection with the application required under 
                paragraph (1)(B);
                    (B) fails to comply with the advance notification 
                and refusal requirements of paragraphs (1)(C) and 
                (1)(D);
                    (C) has failed to take adequate steps to ensure 
                that visitors who are being escorted to the United 
                States under the terms of an approved application 
                return to their country of residence; or
                    (D) is found at any time to have committed a felony 
                or any offense under the immigration laws of the United 
                States.
    (f) Participation by Tour Agents.--The Secretary of State shall 
periodically review the overstay rate of nationals of the Republic of 
Korea that corresponds to each tour agent participating in the program 
under this section. The Secretary may terminate the participation in 
the program of any tour agent if the Secretary determines that the 
corresponding overstay rate is excessive.
    (g) Definitions.--For purposes of this section--
            (1) Group tour.--The term ``group tour'' means travelers 
        who take advantage of group-purchased hotel or airfare 
        packages, as guided, supervised, and arranged by a tour agent 
        in the Republic of Korea approved or licensed by the Department 
        of State.
            (2) Overstay rate.--The term ``overstay rate'' means, 
        during a specified period of time, the proportion that the 
        number of aliens remaining in the United States after the 
        expiration of their visas bears to the total number of aliens 
        entering the United States during that period of time.
            (3) Pilot program period.--The term ``pilot program 
        period'' means the three-year period immediately following the 
        establishment of the pilot program.
answer:
Directs the Secretary of State and the Attorney General to jointly establish a visa waiver pilot program for Korean nationals traveling in tour groups to the United States.  Specifies requirements for such waiver.


question:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Colonial New Mexico Commemorative 
Act''.

SEC. 2. FINDINGS AND PURPOSE.

    (a) Findings.--Congress finds that--
            (1) in 1598, almost a decade before the first permanent 
        English settlement was established at Jamestown, Spanish 
        colonists entered New Mexico, beginning more than 2 centuries 
        of colonization that would indelibly mark the character of the 
        American Southwest;
            (2) because of the flow of history, New Mexico has remained 
        a unique area of the Spanish borderlands;
            (3) as a result of its remoteness, New Mexico changed more 
        slowly than other settlements and has retained many significant 
        remnants of colonial customs, language, and attitudes; and
            (4) the interaction of the American Indian and Hispanic 
        colonial heritages resulted in customs, architecture, and many 
        other manifestations that are unique to today's American 
        culture.
    (b) Purpose.--In order to enhance the preservation, interpretation, 
and public understanding of various aspects of colonial New Mexico, the 
purpose of this Act is to authorize the Secretary of the Interior to 
formulate a program for the research, interpretation, and preservation 
of various aspects of colonial New Mexico history.

SEC. 3. DEFINITIONS.

    As used in this Act:
            (1) Committee.--The term ``Committee'' means the Colonial 
        New Mexico Preservation Advisory Committee established by 
        section 6.
            (2) Plan.--The term ``plan'' means the comprehensive 
        management plan described in section 5.
            (3) Secretary.--The term ``Secretary'' means the Secretary 
        of the Interior.

SEC. 4. DUTIES OF SECRETARY.

    (a) Plan.--
            (1) Preparation.--The Secretary shall prepare the 
        comprehensive management plan in accordance with section 5.
            (2) Implementation.--In close consultation with the Office 
        of Cultural Affairs of the State of New Mexico and the 
        Committee, the Secretary shall--
                    (A) coordinate the activities of Federal, State, 
                and local governments, and private businesses and 
                organizations, to carry out the plan and the purpose of 
                this Act; and
                    (B) consistent with standards established by the 
                Secretary for the preservation of historic properties 
                and for educational programs, and consistent with the 
                National Historic Preservation Act (16 U.S.C. 470 et 
                seq.), prepare guidelines and standards for projects, 
                as identified in the plan, that will further public 
                understanding of colonial New Mexico history.
    (b) Grants.--
            (1) In general.--From funds appropriated, donated, or 
        otherwise made available to the Secretary, the Secretary shall 
        award grants to tribal, governmental, and nongovernmental 
        entities to conserve and protect structures, objects, and 
        sites, and help support cultural events, that have outstanding 
        significance in the commemoration of colonial New Mexico, 
        except that the Federal share shall not exceed 50 percent of 
        the cost of each project.
            (2) Non-federal share.--The non-Federal share may be in the 
        form of cash or services, including donation of labor for 
        project implementation.
    (c) Surveys and Archaeological Investigations.--The Secretary shall 
contract for surveys and archaeological and historical investigations 
of sites relating to colonial New Mexico, including the preparation of 
reports and maps, and the curation of artifacts.
    (d) Publications.--The Secretary shall publish study reports and 
educational materials.
    (e) Nominations to National Register of Historic Places.--The 
Secretary shall prepare thematic nominations to the National Register 
of Historic Places of colonial sites and resources in New Mexico.
    (f) Staff of Other Agencies.--On a reimbursable basis, the 
Secretary may procure the services of personnel detailed from the State 
of New Mexico or other Federal agencies.
    (g) Donations.--The Secretary may seek and accept donations of 
funds or services from public and private entities to carry out this 
Act.

SEC. 5. COMPREHENSIVE MANAGEMENT PLAN.

    (a) In General.--Not later than 2 years after funds are made 
available for purposes of this Act, the Secretary, in consultation with 
the Committee, the State of New Mexico, units of local government, and 
private groups, shall prepare a comprehensive management plan to 
provide direction for commemorative actions and projects.
    (b) Contents.--The plan shall--
            (1) establish a process and procedures for undertaking 
        research relating to colonial New Mexico and a program for 
        regular publication of research materials and findings;
            (2) develop a survey program to further evaluate known 
        resources and identify sites and features that require 
        additional study;
            (3) identify a core system of interpretive sites and 
        features that would provide a comprehensive overview of the 
        colonial New Mexico story;
            (4) prepare interpretive materials to address the colonial 
        New Mexico story and identify locations where this material 
        will be available to the public;
            (5) evaluate and recommend high priority sites and 
        resources that need protection and assistance;
            (6) with the assistance of site owners, prepare options for 
        the protection and management of high priority colonial New 
        Mexico resources;
            (7) evaluate and recommend highway routes, in existence on 
        the date of the plan, that could be designated by the State of 
        New Mexico as colonial New Mexico tour routes; and
            (8) evaluate the feasibility of and need for developing 
        commemorative centers in New Mexico in accordance with section 
        7(a).

SEC. 6. ESTABLISHMENT OF ADVISORY COMMITTEE.

    (a) In General.--There is established in the Department of the 
Interior the Colonial New Mexico Preservation Advisory Committee to 
advise the Secretary with respect to the administration of this Act.
    (b) Membership.--
            (1) Composition.--The Committee shall be composed of 15 
        members who have knowledge of New Mexico colonial history and 
        culture and who shall be appointed by the Secretary, of whom--
                    (A) three members shall be appointed from 
                recommendations submitted by the Governor of New 
                Mexico, of whom one member shall represent the Office 
                of Cultural Affairs of the State of New Mexico;
                    (B) one member shall be appointed from 
                recommendations submitted by the All Indian Pueblo 
                Council;
                    (C) one member--
                            (i) shall be from the general public; and
                            (ii) shall have knowledge of colonial 
                        history in New Mexico;
                    (D) four members--
                            (i) shall be appointed from recommendations 
                        submitted by local governments in New Mexico; 
                        and
                            (ii) shall represent Hispanic communities;
                    (E) one member shall be appointed from 
                recommendations submitted by the President of the 
                University of New Mexico;
                    (F) one member shall be appointed from 
                recommendations submitted by the President of New 
                Mexico State University;
                    (G) one member shall be appointed from 
                recommendations jointly submitted by the Navajo and 
                Apache tribal governments;
                    (H) one member shall have professional expertise in 
                the colonial history of New Mexico;
                    (I) one member shall have professional expertise in 
                architectural history; and
                    (J) one member shall be the Secretary or the 
                Secretary's designee and shall serve in an ex-officio 
                capacity.
            (2) Chairperson.--
                    (A) In general.--The Committee shall elect a 
                chairperson from among its members.
                    (B) Term.--The chairperson shall serve for a term 
                of 2 years.
            (3) Vacancies.--A vacancy in the Committee shall be filled 
        in the manner in which the original appointment was made.
            (4) Terms.--
                    (A) In general.--Each member of the Committee shall 
                be appointed for a term of 5 years.
                    (B) Members filling vacancies.--A member appointed 
                to fill a vacancy shall serve for the remainder of the 
                term for which the member's predecessor was appointed.
                    (C) Extended service.--A member of the Committee 
                may serve after the expiration of the member's term 
                until a successor is appointed.
            (5) Compensation.--Members of the Committee shall serve 
        without compensation.
            (6) Travel expenses.--While away from their homes or 
        regular places of business in the performance of services for 
        the Committee, members of the Committee shall be allowed travel 
        expenses, including per diem in lieu of subsistence, in the 
        same manner as persons employed intermittently in the 
        Government service are allowed expenses under section 5703 of 
        title 5, United States Code.
    (c) Meetings.--
            (1) In general.--The Committee shall meet at least twice 
        annually or at the call of the chairperson or a majority of the 
        members of the Committee.
            (2) Quorum.--A simple majority of members of the Committee 
        shall constitute a quorum.
    (d) Hearings.--To carry out this section, the Committee may hold 
public hearings, take testimony, and record the views of the public 
regarding the plan and implementation of the plan.
    (e) Termination.--The Committee shall terminate 10 years after 
completion of the appointment of the first group of members.

SEC. 7. COMMEMORATIVE CENTERS.

    (a) In General.--
            (1) In general.--The Secretary may develop commemorative 
        centers, operate educational programs, provide technical 
        assistance, conduct cultural events, and prepare media 
        materials, except that the Federal share of a project shall not 
        exceed 50 percent of the total cost of development.
            (2) Non-federal share.--The non-Federal share may be in the 
        form of cash or services.
    (b) Espanola Plaza Center.--
            (1) In general.--In consultation with the Committee, the 
        Secretary may pay to the city of Espanola, New Mexico, the 
        Federal share of planning, developing, and operating a 
        commemorative center as an element of the Spanish Commemorative 
        Plaza.
            (2) Federal share.--The Federal share may not exceed 50 
        percent of the total cost of the Espanola Plaza project.
            (3) Non-federal share.--The non-Federal share may be in the 
        form of cash or services.

SEC. 8. GALISTEO BASIN STUDY.

    In accordance with the National Park Service document entitled 
``Alternative Concepts for Commemorating Spanish Colonization'' and 
dated February 1991, the Secretary shall undertake a special resource 
study of the major prehistoric and historic sites in the Galisteo Basin 
relating to colonial New Mexico. The study shall include evaluations of 
significance, site integrity, threats, and protection and management 
options.

SEC. 9. PUEBLO TRAIL.

    (a) Redesignation.--The Masau Trail, as designated by title II of 
Public Law 100-225 (16 U.S.C. 460uu-11 et seq.), is redesignated as the 
Pueblo Trail.
    (b) Legal References.--Any reference in any record, map, or other 
document of the United States to the Masau Trail is deemed to be a 
reference to the Pueblo Trail.
    (c) Conforming Amendments.--
            (1) The title heading of title II of Public Law 100-225 (16 
        U.S.C. 460uu-11 et seq.) is amended by striking ``MASAU'' and 
        inserting ``PUEBLO''.
            (2) Public Law 100-225 (16 U.S.C. 460uu et seq.) is amended 
        by striking ``Masau'' each place it appears in sections 201, 
        204, and 510 and inserting ``Pueblo''.

SEC. 10. ANNUAL REPORTS.

    (a) In General.--The Secretary shall submit an annual report to 
Congress that lists with respect to this Act--
            (1) actions taken by the Secretary;
            (2) entities to which any grants were made during the 
        fiscal year and any recipients of technical assistance; and
            (3) actions taken to protect and interpret significant 
        sites, structures, and objects relating to colonial New Mexico.
    (b) Cost Estimates.--The report shall include detailed cost 
estimates of projects that are proposed to be funded under this Act 
during the next fiscal year.

SEC. 11. AUTHORIZATION OF APPROPRIATIONS.

    There are authorized to be appropriated to the Department of the 
Interior $5,000,000 to carry out this Act, to remain available until 
expended.
answer:
Colonial New Mexico Commemorative Act - Directs the Secretary of the Interior to prepare a comprehensive management plan to:  (1) establish procedures for undertaking research relating to colonial New Mexico and a program for publication of research; (2) develop a survey to evaluate known resources and identify features that require additional study; (3) identify a core system of interpretive sites that would provide a comprehensive overview of the colonial New Mexico story; (4) prepare interpretive materials to address the colonial New Mexico story to be made available to the public; (5) recommend high priority sites that need protection and assistance; (6) prepare options for the management of priority New Mexico resources; (7) recommend highway routes that could be designated as colonial New Mexico tour routes; and (8) evaluate the feasibility of and need for developing commemorative centers in New Mexico. 
Requires the Secretary to award grants to tribal, governmental, and nongovernmental entities to conserve and protect structures, objects, and sites, and help support cultural events, that have significance in the commemoration of colonial New Mexico. Directs the Secretary to prepare thematic nominations to the National Register of Historic Places of colonial sites and resources in New Mexico. 
Establishes the Colonial New Mexico Preservation Advisory Committee in the Department of the Interior. 
Authorizes the Secretary to:  (1) develop commemorative centers, operate educational programs, provide technical assistance, conduct cultural events, and prepare media materials; and (2) pay to the city of Espanola, New Mexico, the Federal share of planning and operating a commemorative center as an element of the Spanish Commemorative Plaza. 
Directs the Secretary to undertake a special resource study of the major prehistoric and historic sites in the Galisteo Basin relating to colonial New Mexico. 
Authorizes appropriations. 
Redesignates the Masau Trail as the Pueblo Trail.


question:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Community Lending Enhancement and 
Regulatory Relief Act of 2017'' or the ``CLEAR Relief Act of 2017''.

SEC. 2. COMMUNITY BANK EXEMPTION FROM ANNUAL MANAGEMENT ASSESSMENT OF 
              INTERNAL CONTROLS REQUIREMENT OF THE SARBANES-OXLEY ACT 
              OF 2002.

    Section 404 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7262) is 
amended by adding at the end the following:
    ``(d) Community Bank Exemption.--
            ``(1) Definitions.--In this subsection--
                    ``(A) the term `bank holding company' has the 
                meaning given the term in section 2 of the Bank Holding 
                Company Act of 1956 (12 U.S.C. 1841);
                    ``(B) the term `insured depository institution' has 
                the meaning given the term in section 3 of the Federal 
                Deposit Insurance Act (12 U.S.C. 1813); and
                    ``(C) the term `savings and loan holding company' 
                has the meaning given the term in section 10(a) of the 
                Home Owners' Loan Act (12 U.S.C. 1467a(a)).
            ``(2) In general.--This section and the rules prescribed 
        under this section shall not apply in any fiscal year to any 
        bank holding company, savings and loan holding company, or 
        insured depository institution that, as of the end of the 
        preceding fiscal year, had total consolidated assets of 
        $1,000,000,000 or less.
            ``(3) Adjustment of amount.--The Commission shall annually 
        adjust the dollar amount in paragraph (1) by an amount equal to 
        the percentage increase, for the most recent year, in total 
        assets held by all bank holding companies, savings and loan 
        holding companies, and insured depository institutions, as 
        reported by the Federal Deposit Insurance Corporation.''.

SEC. 3. ESCROW REQUIREMENTS RELATING TO CERTAIN CONSUMER CREDIT 
              TRANSACTIONS.

    Section 129D(c) of the Truth in Lending Act (15 U.S.C. 1639d(c)) is 
amended--
            (1) by redesignating paragraphs (1) through (4) as 
        subparagraphs (A) through (D), respectively, and adjusting the 
        margins accordingly;
            (2) by striking ``The Bureau'' and inserting the following:
            ``(1) In general.--The Bureau''; and
            (3) by adding at the end the following:
            ``(2) Treatment of loans held by smaller institutions.--The 
        Bureau shall, by regulation, exempt from the requirements of 
        subsection (a) any loan secured by a first lien on the 
        principal dwelling of a consumer, if such loan is held by an 
        insured depository institution having assets of $10,000,000,000 
        or less.''.

SEC. 4. MINIMUM STANDARDS FOR RESIDENTIAL MORTGAGE LOANS.

    Section 129C(b)(2) of the Truth in Lending Act (15 U.S.C. 
1639c(b)(2)) is amended by adding at the end the following:
                    ``(F) Safe harbor.--
                            ``(i) In general.--In this section--
                                    ``(I) the term `qualified mortgage' 
                                includes any mortgage loan that is 
                                originated and retained in portfolio 
                                for a period of not less than 3 years 
                                by a depository institution together 
                                with its affiliates has less than 
                                $10,000,000,000 in total consolidated 
                                assets; and
                                    ``(II) loans described in subclause 
                                (I) shall be deemed to meet the 
                                requirements of subsection (a).
                            ``(ii) Exception for certain transfer.--In 
                        the case of a depository institution that 
                        transfers a loan originated by that institution 
                        to another depository institution by reason of 
                        the bankruptcy or failure of the originating 
                        depository institution or the purchase of the 
                        originating depository institution, the 
                        depository institution acquiring the loan shall 
                        be deemed to have complied with the requirement 
                        under clause (i)(I).''.

SEC. 5. EXEMPTION FROM VOLCKER RULE.

    Section 13(h)(1) of the Bank Holding Company Act of 1956 (12 U.S.C. 
1851(h)(1)) is amended--
            (1) in subparagraph (D), by redesignating clauses (i) and 
        (ii) as subclauses (I) and (II), respectively;
            (2) by redesignating subparagraphs (A) through (D) as 
        clauses (i) through (iv), respectively;
            (3) by striking ``institution that functions solely in a 
        trust or fiduciary capacity, if--'' and inserting the 
        following: ``institution--
                    ``(A) that functions solely in a trust or fiduciary 
                capacity, if--''; and
            (4) in clause (iv)(II), as redesignated, by striking the 
        period at the end and inserting the following: ``; or
                    ``(B) with total consolidated assets of 
                $10,000,000,000 or less.''.

SEC. 6. NO WAIT FOR LOWER MORTGAGE RATES.

    (a) In General.--Section 129(b) of the Truth in Lending Act (15 
U.S.C. 1639(b)) is amended--
            (1) by redesignating paragraph (3) as paragraph (4); and
            (2) by inserting after paragraph (2) the following:
            ``(3) No wait for lower rate.--If a creditor extends to a 
        consumer a second offer of credit with a lower annual 
        percentage rate, the transaction may be consummated without 
        regard to the period specified in paragraph (1).''.
    (b) Safe Harbor for Good Faith Compliance With TILA-RESPA 
Integrated Disclosure Rule.--Section 1032(f) of the Consumer Financial 
Protection Act of 2010 (12 U.S.C. 5532(f)) is amended--
            (1) by striking ``Not later than'' and inserting the 
        following:
            ``(1) In general.--Not later than''; and
            (2) by adding at the end the following:
            ``(2) Safe harbor for good faith compliance.--
                    ``(A) Safe harbor.--Notwithstanding any other 
                provision of law, during the period described in 
                subparagraph (B), an entity that provides the 
                disclosures required under the Truth in Lending Act (15 
                U.S.C. 1601 et seq.) and sections 4 and 5 of the Real 
                Estate Settlement Procedures Act of 1974 (12 U.S.C. 
                2603 and 2604), as in effect on July 31, 2017, shall 
                not be subject to any civil, criminal, or 
                administrative action or penalty for failure to fully 
                comply with any requirement under this subsection.
                    ``(B) Applicable period.--Subparagraph (A) shall 
                apply to an entity during the period beginning on the 
                date of enactment of this paragraph and ending on the 
                date that is 30 days after the date on which a 
                certification by the Director that the model 
                disclosures required under paragraph (1) are accurate 
                and in compliance with all State laws is published in 
                the Federal Register.''.
answer:

Community Lending Enhancement and Regulatory Relief Act of 2017 or the CLEAR Relief Act of 2017 This bill amends the Sarbanes-Oxley Act of 2002 to exempt from specified reporting and attestation requirements a community bank with assets of $1 billion or less. The bill amends the Truth in Lending Act to exempt from certain escrow requirements and residential mortgage loan standards a residential mortgage loan held by&nbsp;a depository institution with assets of $10 billion or less. The bill further amends that Act, as well as the Consumer Protection Act of 2010, to exempt certain creditors from specified disclosure requirements. In addition, the bill amends the Bank Holding Company Act of 1956 to exempt from the Volcker Rule a depository institution with assets of $10&nbsp;billion or less. (The Volcker Rule prohibits banking agencies from engaging in proprietary trading or entering into certain relationships with hedge funds and private-equity funds.)