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

Input: Consider Input: SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.-- This Act may be cited as the ``Tribal Government 
Homeland Security Coordination and Integration Act''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Findings and purposes.
Sec. 3. Definitions.
Sec. 4. Office of tribal government homeland security.
Sec. 5. Report to congress.
Sec. 6. Authorization of appropriations.

SEC. 2. FINDINGS AND PURPOSES.

    (a) Findings.--Congress finds the following:
            (1) Since the terrorist attacks of September 11, 2001, and 
        the subsequent introduction of weapons grade anthrax into the 
        United States Postal System and Congressional office buildings 
        in Washington, D.C., the President and the Congress have worked 
        closely to respond to the need to rebuild and strengthen the 
        nation's public health, national security, and emergency 
        response systems.
            (2) Based on Article I, section 8 of the United States 
        Constitution, treaties, Federal statutes, and court decisions, 
        the United States has a unique historical and legal 
        relationship with American Indian and Alaska Native people, 
        which serves as the basis for the Federal Government's trust 
        responsibility and obligations. There are currently 558 
        federally-recognized Indian tribes in the United States, with 
        some 40 percent of Indian tribes located in the State of 
        Alaska. Indian tribes have principle responsibility for lands 
        and people within their jurisdiction.
            (3) Despite the government-to-government relationship 
        between Indian tribes and the United States, the United States 
        has failed to include and consult with Indian tribes with 
        regard to homeland security prevention, protection, and 
        response activities planning. Moreover, there are no specific 
        provisions for the Bureau of Indian Affairs or the Indian 
        Health Service to participate in homeland security programs and 
        funding.
            (4) Throughout many areas of the United States, facilities 
        operated, and services, activities and government functions 
        carried out, by Indian tribes, the Bureau of Indian Affairs and 
        the Indian Health Service are the only sources available to 
        provide emergency health services, disaster response, and law 
        enforcement to the tribal and non-tribal community, thus 
        serving the role as ``first responders'' in the event of a 
        terrorist attack.
            (5) To provide for the public health and safety on tribal 
        lands and in the surrounding communities, it is imperative to 
        establish tribal participation in homeland security 
        initiatives. Indian tribes must be included in the national 
        strategy for homeland security and receive an appropriate share 
        of related funding.
            (6) The treatment of Indian tribes as State governments, as 
        appropriate, for developing funding methodologies, planning, 
        consultation, coordination, and for eligibility for grant 
        monies will ensure Indian tribes are adequately prepared to 
        respond to Homeland Security threats.
            (7) Indian tribes shall be treated as State, as 
        appropriate, for purposes of planning, consultation, 
        coordination, eligibility for grant monies and other purposes 
        to improve the United States capacity to prepare, prevent and 
        respond to terrorist activities.
    (b) Purposes.--The purposes of this Act are as follows:
            (1) To establish within the Department of Homeland Security 
        an office known as the Office of Tribal Government Homeland 
        Security.
            (2) To authorize the Secretary of Homeland Security to 
        appoint, in consultation with Indian tribes, a Director of 
        Tribal Government Homeland Security.
            (3) To provide for more effective management of, and 
        accountability for the proper discharge of, the Secretary's 
        trust responsibility to Indian tribes and individual American 
        Indians and Alaska Natives by establishing in the Department of 
        Homeland Security an Office of Tribal Government Homeland 
        Security.
            (4) To integrate and coordinate the efforts of the 
        Department of Homeland Security and Indian tribes to prepare 
        for, prevent, protect against, respond to, and recover from 
        terrorist attacks.
            (5) To provide strategic integration of the Homeland 
        Security activities of Indian tribes that will complement the 
        operational consolidation of the various directorates within 
        the Department.
            (6) To supplement the capacity of the Indian Health Service 
        and the Bureau of Indian Affairs to respond to the homeland 
        security needs of American Indians and Alaska Natives, without 
        jeopardizing the nonsecurity missions of the Indian Health 
        Service and the Bureau of Indian Affairs.
            (7) To serve as an information clearinghouse and to enhance 
        the integration and coordination of Indian tribes and in the 
        activities of the Department of Homeland Security.
            (8) To establish an organizational framework within the 
        Department of Homeland Security through which the Federal 
        Government, Indian tribes, and State and local governments can 
        work effectively and collaboratively on public health and 
        safety, terrorism detection, prevention, response, and 
        protection of critical infrastructure.

SEC. 3. DEFINITIONS.

     In this Act:
            (1) Director.--The term ``Director'' means the Director of 
        the Office of Tribal Government Homeland Security.
            (2) Indian tribe.--The term ``Indian tribe'' has the 
        meaning given that term in section 4(e) of the Indian Self-
        Determination and Education Assistance Act (25 U.S.C. 450b(e)).
            (3) Office.--The term ``Office'' means the Office of Tribal 
        Government Homeland Security established in section 4.
            (4) Secretary.--The term ``Secretary'' means the Secretary 
        of Homeland Security.

SEC. 4. OFFICE OF TRIBAL GOVERNMENT HOMELAND SECURITY.

    (a) In General.--
            (1) Establishment.--There is hereby established within the 
        Department of Homeland Security an office to be known as the 
        ``Office of Tribal Government Homeland Security''.
            (2) Director.--The Office shall be headed by a Director, 
        appointed by the Secretary in consultation with Indian tribes, 
        whose title shall be the Director of Tribal Government Homeland 
        Security. The Director shall be equal in pay and authority of 
        an Assistant Secretary.
    (b) Duties of Secretary; Director.--
            (1) Duties of the secretary.--The Secretary shall--
                    (A) ensure the coordination of Federal programs 
                that provide assistance (including financial and 
                technical assistance) to eligible Indian tribes and 
                provide those governments with treatment as State 
                governments, as appropriate, for planning, 
                consultation, and coordination and for eligibility for 
                Federal grant monies and funds to improve capacity and 
                help prepare, prevent, and respond to terrorist 
                activities, and for other related purposes in and near 
                tribal communities;
                    (B) ensure Indian tribes are included in the 
                coordination activities of the Homeland Security 
                Department's Border and Transportation functions in the 
                same manner as State and local law enforcement 
                entities;
                    (C) ensure Indian tribes with jurisdiction over 
                lands adjacent to the Canadian and Mexican borders are 
                adequately prepared to help protect United States 
                borders, territorial waters, waterways, and other 
                transportation systems;
                    (D) ensure the broad spectrum of infrastructure 
                throughout Indian Country, including nuclear and 
                electrical power plants, water and sanitation 
                facilities, agricultural, food processing, oil, timber, 
                and other natural resources is adequately protected 
                against terrorist threats;
                    (E) ensure that Indian tribes are properly equipped 
                to prepare for, prevent, and respond to terrorist 
                activities in the same manner as State and local 
                governments;
                    (F) provide Indian tribes the necessary equipment 
                for detection, protection, and decontamination in 
                emergencies involving weapons of mass destruction;
                    (G) provide Indian tribes with emergency 
                preparedness training and exercise programs and further 
                assistance for any emergency, including natural 
                disasters or disease;
                    (H) include Indian tribes in all facets of 
                research, development, resource assessment, and risk 
                analysis in the same manner as State and local 
                governments; and
                    (I) include Indian tribes, as appropriate, in the 
                coordination of the Homeland Security Department's 
                Immigration and Nationality functions in the same 
                manner as State and local law enforcement entities.
            (2) Duties of the director.--The Director shall--
                    (A) coordinate homeland security activities among 
                Indian tribes and related Federal agencies, including 
                integration and coordination of the efforts of the 
                Department of Homeland Security and Indian tribes to 
                prepare for, prevent, protect against, respond to, and 
                recover from terrorist attacks;
                    (B) provide strategic integration to complement the 
                operational consolidation of the various directorates 
                within the Department of Homeland Security, with 
                respect to Indian tribes;
                    (C) ensure that Indian tribes are included in the 
                gathering and analysis of terrorist threats and other 
                information in the same manner as Federal, State, and 
                local law enforcement entities;
                    (D) serve as the Secretary's key point of contact 
                for Indian tribes in need of assistance and information 
                homeland security grants for purposes of planning, 
                consultation, coordination, eligibility for grant 
                monies and other purposes to improve the United States 
                capacity to prepare, prevent and respond to terrorist 
                activities and to work with Indian tribes and executive 
                agencies in promoting homeland security;
                    (E) serve as the coordinating center intended to 
                facilitate communication between and integration with 
                Indian tribes and other Federal departments that have 
                homeland security responsibilities, including but not 
                limited to health surveillance, emergency preparation 
                and response, border security, critical infrastructure 
                protection, technology, and communication;
                    (F) establish a network through which the Federal 
                Government, Indian tribes, and State and local 
                governments work collaboratively on public health and 
                safety, terrorism detection, prevention, response, and 
                protection of critical infrastructure targets; and
                    (G) establish a mechanism for the distribution of 
                warnings and information to tribal communities.
    (c) Treatment of Indian Tribes as States.--
            (1) In general.--The Secretary shall--
                    (A) treat Indian tribes as States, as appropriate, 
                for the purpose of homeland security consultation, 
                planning, coordination, bioterrorism preparedness, 
                prevention, and response, emergency preparedness and 
                response, border and transportation security, and for 
                other purposes related to protecting the homeland;
                    (B) include Indian tribes in funding methodologies 
                for purposes of allocating any financial resources; and
                    (C) support and facilitate the capacity necessary 
                for the Indian Health Service and Bureau of Indian 
                Affairs to respond to the homeland security needs of 
                American Indians and Alaska Natives, without 
                jeopardizing their non-security missions.
            (2) Discretionary authority.--The Secretary may delegate to 
        such Indian tribes primary responsibility for homeland security 
        activities within its respective jurisdiction.
    (d) Information Sharing.--The Secretary shall provide assistance to 
enhance information technology capabilities of Indian tribes and 
ensure--
            (1) the active participation of Indian tribes in the 
        coordination with Federal, State, and local governments and the 
        private sector as related to Homeland Security activities; and
            (2) provide Indian tribes access to the same type of 
        information being exchanged between Federal, State, and local 
        authorities for the purpose of providing government personnel, 
        agencies, and authorities, with appropriate intelligence 
        information, including warnings, regarding threats posed by 
        terrorism in a timely and secure manner.
    (e) Federal Grants.--
            (1) General eligibility.--Indian tribes shall be eligible 
        to apply for, receive, direct, and supervise any homeland 
        security-related Federal grant programs.
            (2) Authority to award grants.--The Secretary may award 
        grants to Indian tribes for the following purposes:
                    (A) Planning, consultation, and coordination to 
                improve infrastructure, to prevent terrorist 
                activities.
                    (B) Training and education of employees responsible 
                for public health, safety and emergency response 
                activities.
                    (C) Addressing communication gaps and 
                infrastructure needs related to homeland security.
                    (D) Increasing the capacity of Indian tribes to 
                help prepare, prevent, and respond to terrorist 
                activities and other public health and safety 
                emergencies.
                    (E) Development of a comprehensive plan to help 
                prepare, prevent, and respond to terrorist activities 
                and other public health and safety emergencies.
                    (F) Implementation of plans to help prepare, 
                prevent, and respond to terrorist activities and other 
                public health and safety emergencies.
                    (G) The preparation of reports assessing the 
                emergency preparedness of Indian tribes, including an 
                assessment of Indian tribes' coordination with the 
                Department.
                    (H) Such other purposes related to the purposes of 
                this Act the Secretary considers appropriate.
    (f) Technical Assistance.--The Secretary shall--
            (1) directly or by contract, provide Indian tribes with 
        technical assistance in developing, implementing and managing 
        emergency response plans.
            (2) Ensure that legal, financial, and other expertise of 
        the Department of Homeland Security is made fully available in 
        an advisory capacity to Indian tribes to assist in the 
        development, implementation, and management of emergency 
        response plans.
            (3) Provide Department of Homeland Security programs 
        designed to provide legal, accounting, financial, or technical 
        assistance to eligible Indian tribes.
            (4) Facilitate cooperation with the heads of appropriate 
        Federal agencies working on Homeland Security initiatives.
            (5) Any other activity that the Secretary, in consultation 
        with the Director, considers appropriate to carry out this 
        section.
    (g) Assessment.--Not later than 6 months after the date of the 
enactment of this Act, the Secretary shall submit an assessment report 
detailing the baseline readiness of Indian tribes to the Committee on 
Indian Affairs of the Senate and the Committee on Resources of the 
House of Representatives. In addition to an assessment of baseline 
readiness, the report shall contain any legislative recommendations 
necessary to improve coordination and integration of Indian tribes in 
the National Homeland Security Strategy.
    (h) Reporting.--The Secretary shall determine the effectiveness of 
the Office through the preparation of reports assessing the emergency 
preparedness of Indian tribes, including an assessment of Indian 
tribes' coordination with the Department of Homeland Security.
    (i) Prohibition.--The Secretary may not provide assistance under 
this section for any activity related to the operation of a gaming 
activity on Indian lands pursuant to the Indian Gaming Regulatory Act 
(25 U.S.C. 2701 et seq.).

SEC. 5. REPORT TO CONGRESS.

    (a) In General.--Not later than 1 year after the date of the 
enactment of this Act, and annually thereafter, the Secretary, in 
consultation with the Director, shall prepare and submit to the 
Committee on Indian Affairs of the Senate and the Committee on 
Resources of the House of Representatives a report on the operation of 
the Office.
    (b) Contents of Report.--Each report prepared under subsection (a) 
shall include--
            (1) for the period covered by the report, a summary of the 
        activities conducted by the Secretary, in carrying out 
        subsections (b) through (h) of section 4; and
            (2) any recommendations for legislation that the Secretary, 
        in consultation with the Director, determines to be necessary 
        to carry out such sections.

SEC. 6. AUTHORIZATION OF APPROPRIATIONS.

     There are authorized to be appropriated such sums are necessary to 
carry out this Act, to remain available until expended.

Output: Tribal Government Homeland Security Coordination and Integration Act - Establishes the Office of Tribal Government Homeland Security (Office) within the Department of Homeland Security. Requires the Secretary of Homeland Security to appoint a Director to head the Office.

Prescribes the Secretary's and the Director's duties of coordination, infrastructure and equipment readiness, training, and inclusion of Indian tribes in homeland security preparedness. 
 
 Requires the Secretary to treat Indian tribes as states, as appropriate for the purpose of homeland security. Authorizes the Secretary to delegate to Indian tribes primary responsibility for homeland security activities within their respective jurisdictions. Requires the Secretary to integrate the roles of the Bureau of Indian Affairs and Indian Health Services with regard to homeland security. 
 
 Requires the Secretary to provide assistance to enhance information technology capabilities of tribes and ensure the participation of Indian tribes in the coordination with federal, state, and local governments and the private sector as related to Homeland Security activities. 
 
 Declares Indian tribes to be eligible to apply for, receive, direct, and supervise any homeland security-related federal grant program. 
 
 Authorizes the Secretary to award grants to Indian tribes for specified homeland security purposes. 
 
 Requires the Secretary to provide Indian tribes with: (1) technical assistance in developing, implementing, and managing emergency response plans; (2) Department of Homeland Security expertise and programs; (3) the cooperation of the heads of appropriate Federal agencies; and (4) any other activity the Secretary considers appropriate to provide homeland security technical assistance to Indian tribes.


Input: Consider Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Justice for Victims of Fraud Act of 
2016''.

SEC. 2. FINDINGS.

    The Congress finds the following:
            (1) The Bureau of Consumer Financial Protection found that 
        Wells Fargo management implemented sales incentives, including 
        an incentive-compensation program, in part to increase the 
        number of banking products and services that its employees sold 
        to its customers.
            (2) The Bureau of Consumer Financial Protection found that 
        Wells Fargo employees engaged in improper sales practices to 
        satisfy sales goals under Wells Fargo's incentive compensation 
        program, including opening as many as 1,534,280 checking 
        accounts and 565,443 credit card accounts using consumers' 
        information without their knowledge or consent between May 2011 
        and July 2015.
            (3) Wells Fargo successfully claimed in Jabbari v. Wells 
        Fargo that customers had signed away their rights to hold Wells 
        Fargo accountable in court for claims of fraud because those 
        customers were bound to a forced arbitration clause for their 
        legitimate accounts.
            (4) After Wells Fargo publicly entered a settlement with 
        Federal regulators for the opening of thousands of unauthorized 
        customer accounts, Wells Fargo claimed in Mitchell et. al. v. 
        Wells Fargo et. al. that customers' fraud claims must continue 
        to be forced into arbitration.
            (5) Several courts have determined that despite claims of 
        fraud over unauthorized accounts opened without customer 
        knowledge or consent, those customers are still bound by 
        contracts forcing those claims into arbitration based on the 
        courts' interpretation of the Federal Arbitration Act.
            (6) The Federal Arbitration Act (now codified as chapter 1 
        of title 9, United States Code) was intended to apply to 
        disputes between commercial entities of generally similar 
        sophistication and bargaining power, but a series of decisions 
        by the Supreme Court of the United States have interpreted the 
        Federal Arbitration Act as applicable to claims of fraud.
            (7) Consumers have no meaningful choice whether to submit 
        their claims to arbitration and are typically unaware that they 
        have given up their rights to file claims in court.

SEC. 3. ARBITRATION OF CONSUMER DISPUTES RELATED TO CREDIT CARD 
              ACCOUNTS.

    Chapter 2 of the Truth in Lending Act (15 U.S.C. 1631 et seq.) is 
amended by adding at the end the following (and the table of contents 
for such chapter is conformed accordingly):
``Sec. 140B. Validity and enforceability
    ``(a) Definitions.--In this section--
            ``(1) the term `covered dispute' means a dispute that is 
        not subject to a final judgment by a court; and
            ``(2) the term `predispute arbitration agreement' means any 
        agreement between a person and a consumer providing for 
        arbitration of any future dispute between the parties.
    ``(b) Validity and Enforceability.--No predispute arbitration 
agreement shall be valid or enforceable in a covered dispute that is 
related to a credit card that was not issued in response to a request 
or application for that credit card account.
    ``(c) Applicability.--The applicability of this section to a 
predispute arbitration agreement shall be determined by a State or 
Federal court of competent jurisdiction.''.

SEC. 4. ARBITRATION OF CONSUMER DISPUTES RELATED TO COVERED ACCOUNTS.

    The Electronic Fund Transfer Act (15 U.S.C. 1693 et seq.) is 
amended by inserting after section 920 (15 U.S.C. 1693o-2) the 
following:

``SEC. 920A. VALIDITY AND ENFORCEABILITY.

    ``(a) Definitions.--In this section--
            ``(1) the term `covered account'--
                    ``(A) means a demand deposit, savings deposit, or 
                other asset account (other than an occasional or 
                incidental credit balance in an open end credit plan as 
                defined in section 103(i)), as described in regulations 
                of the Bureau, established primarily for personal, 
                family, or household purposes, including demand 
                accounts, time accounts, negotiable order of withdrawal 
                accounts, and share draft accounts; and
                    ``(B) does not include an account held by a 
                financial institution pursuant to a bona fide trust 
                agreement;
            ``(2) the term `covered dispute' means a dispute that is 
        not subject to a final judgment by a court; and
            ``(3) the term `predispute arbitration agreement' means any 
        agreement between a financial institution and a consumer 
        providing for arbitration of any future dispute between the 
        parties.
    ``(b) Validity and Enforceability.--No predispute arbitration 
agreement shall be valid or enforceable in a covered dispute that is 
related to a covered account that was not issued in response to a 
request or application for that covered account.
    ``(c) Applicability.--The applicability of this section to a 
predispute arbitration agreement shall be determined by a State or 
Federal court of competent jurisdiction.''.

SEC. 5. RULE OF CONSTRUCTION.

    Nothing in the amendments made by this Act shall be construed--
            (1) to authorize the imposition of a requirement to submit 
        a dispute to arbitration; or
            (2) to restrict any court from ruling that a requirement to 
        submit a dispute to arbitration is invalid or unenforceable.

Output: Justice for Victims of Fraud Act of 2016 This bill amends the Truth in Lending Act and the Electronic Fund Transfer Act to prohibit predispute arbitration agreements with consumers (i.e., agreements to arbitrate any future disputes between parties instead of pursuing the claims in court) from being valid or enforceable in disputes related to credit card accounts or personal bank accounts that are not subject to a final judgment by a court if the credit card or bank account was not issued in response to a request or application for that account.  The bill excludes from this prohibition accounts held by a financial institution pursuant to a bona fide trust agreement.


Input: Consider Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Detroit Economic Competitiveness 
Act''.

SEC. 2. DETROIT JOBS TRUST FUND.

    (a) In General.--Subchapter A of chapter 98 of the Internal Revenue 
Code of 1986 is amended by adding at the end the following new section:

``SEC. 9512. DETROIT JOBS TRUST FUND.

    ``(a) Creation of Trust Fund.--There is established in the Treasury 
of the United States a trust fund to be known as the `Detroit Jobs 
Trust Fund', consisting of such amounts as may be appropriated or 
credited to such fund as provided in this section or section 9602(b).
    ``(b) Transfers to Trust Fund.--There are hereby appropriated to 
the Detroit Jobs Trust Fund amounts equivalent to receipts in the 
Treasury of taxes (including all income, excise, and employment taxes 
whether imposed with respect to individuals or businesses) imposed 
under this title (with respect to periods after the date of the 
enactment of this section) which are (as determined by the Secretary) 
attributable to Detroit, Michigan. The city of Detroit, Michigan, shall 
provide the Secretary such information as the Secretary may request for 
purposes of making the determinations required under this subsection. 
For purposes of this subsection, the taxes imposed on a corporation or 
other business entity shall not be treated as attributable to Detroit, 
Michigan, merely because the headquarters of such corporation or entity 
is located in Detroit, Michigan.
    ``(c) Expenditures.--
            ``(1) In general.--Except as otherwise provided in this 
        subsection, amounts in the Detroit Jobs Trust Fund shall 
        (without need of any further appropriation) be distributed 
        annually by the Secretary to the city of Detroit, Michigan, to 
        carry out the purposes described in paragraph (2).
            ``(2) Use of expenditures.--Amounts distributed to the city 
        of Detroit, Michigan, under this section shall be used for the 
        following purposes and in the following order of priority:
                    ``(A) First, of the amounts distributed with 
                respect the annual period not in excess of the Detroit 
                income tax suspension hold harmless amount, for any 
                purpose determined by the city government of Detroit, 
                Michigan.
                    ``(B) Second, for payment of principal and interest 
                on any general obligation issued by the city of 
                Detroit, Michigan (to the extent of such obligations).
                    ``(C) Third, for payment of principal and interest 
                on obligations to which section 103 applies and the 
                proceeds of which were used for the public schools of 
                the city of Detroit, Michigan (to the extent of such 
                obligations).
                    ``(D) Fourth, for jobs development, public safety, 
                education, business infrastructure, or public 
                infrastructure (to the extent consistent with the plan 
                described in paragraph (4)).
            ``(3) Restriction on distributions.--No distribution shall 
        be made by the Secretary under paragraph (1) unless--
                    ``(A) the city of Detroit, Michigan, does not 
                impose an income tax with respect to the period to 
                which such distribution relates,
                    ``(B) such city has reduced the aggregate property 
                taxes imposed by an amount not less than the reduction 
                in the payment obligations of such city by reason of 
                the payments described in paragraph (2),
                    ``(C) all prior distributions made to the city 
                under paragraph (2) were used by the city in a manner 
                consistent with the requirements of paragraph (2), and
                    ``(D) such city has provided such information to 
                the Comptroller General of the United States as the 
                Comptroller General may request to carry out section 
                2(b) of the Detroit Economic Competitiveness Act.
            ``(4) 5-year development plan.--A plan is described in this 
        paragraph if such plan--
                    ``(A) is a 5-year plan describing development goals 
                for Detroit, Michigan, and detailing how distributions 
                for purposes described in paragraph (2)(D) will be 
                spent,
                    ``(B) has been approved by simple majority vote of 
                the City Council of Detroit, Michigan (after 
                consultation with the Detroit Board of Education), and
                    ``(C) has been submitted to, and approved by, the 
                Secretary of the Treasury, the Secretary of Housing and 
                Urban Development, and the Secretary of Education.
        No distribution shall be made under paragraph (1) for a purpose 
        described in paragraph (2)(D) unless a plan described in this 
        paragraph is in effect and all prior such distributions for 
        such purposes were used in accordance with such plan.
            ``(5) Special rules during period of plan development.--
        During the period during which the plan described in paragraph 
        (4) is developed (but not in excess of the 5-month period 
        beginning on the date of the first distribution under paragraph 
        (1)), amounts distributed may be used concurrently for the 
        purposes described in subparagraphs (A), (B), and (C) of 
        paragraph (2).
            ``(6) Detroit income tax suspension hold harmless amount.--
                    ``(A) In general.--For purposes of paragraph 
                (2)(A), the term `Detroit income tax suspension hold 
                harmless amount' means the amount (as determined by the 
                Secretary) of revenue collected by the city of Detroit 
                pursuant to the income tax imposed by such city during 
                the calendar year preceding the calendar year which 
                includes the date of the enactment of this section.
                    ``(B) Cross reference.--For provision which 
                requires suspension of the Detroit income tax, see 
                paragraph (3)(A).
                    ``(C) Tax returns may still be required.--The city 
                of Detroit, Michigan, shall not be treated as failing 
                to satisfy the requirement of paragraph (3)(A) with 
                respect to any period merely because taxpayers are 
                required to file tax returns and report income with 
                respect to such period.
            ``(7) Amounts made available not to reduce other funding.--
        Amounts distributed to the city of Detroit, Michigan, under 
        this section shall supplement, and not supplant, any other 
        funding (including any Federal funding) for such city.
    ``(d) Termination.--No amount shall be distributed from, or 
appropriated to, the Detroit Jobs Trust Fund after the 5-year period 
beginning on the date of the enactment of this section. Any amounts 
remaining in such Trust Fund at the end of such period shall be 
transferred to the general fund of the Treasury. The 5-year period 
specified in this subsection shall not be renewed or extended.''.
    (b) GAO Reports.--The Comptroller General of the United States 
shall submit an annual report to Congress which--
            (1) describes the manner and purposes for which 
        distributions made from the Detroit Jobs Trust Fund have been 
        used,
            (2) describes the extent to which progress has been made 
        toward meeting the development goals under the plan described 
        in section 9512(c)(4) of the Internal Revenue Code of 1986 (as 
        added by this section) and whether such progress is consistent 
        with meeting such goals, and
            (3) includes any recommendations the Comptroller General 
        may have regarding improvements to the program described in 
        section 9512 of such Code.
The first such annual report shall be submitted not later than 90 days 
after the 1-year period beginning on the date of the enactment of this 
Act and the last such annual report shall be submitted not later than 
90 days after the date on which the Detroit Jobs Trust Fund terminates 
pursuant to section 9512(d) of such Code.
    (c) Clerical Amendment.--The table of sections for subchapter A of 
chapter 98 of the Internal Revenue Code of 1986 is amended by adding at 
the end the following new item:

``Sec. 9512. Detroit Jobs Trust Fund.''.

SEC. 3. ZERO CAPITAL GAINS RATE FOR CERTAIN NEW INVESTMENTS IN DETROIT, 
              MICHIGAN.

    (a) In General.--Subchapter Y of chapter 1 of the Internal Revenue 
Code of 1986 is amended by adding at the end the following new part:

        ``PART IV--CERTAIN NEW INVESTMENTS IN DETROIT, MICHIGAN

``Sec. 1400V. Zero capital gains rate for certain new investments in 
                            Detroit, Michigan.

``SEC. 1400V. ZERO CAPITAL GAINS RATE FOR CERTAIN NEW INVESTMENTS IN 
              DETROIT, MICHIGAN.

    ``(a) In General.--Gross income does not include any qualified 
capital gain from the sale or exchange of a specified new investment 
held for more than 1 year.
    ``(b) Specified New Investment.--For purposes of this section--
            ``(1) In general.--The term `specified new investment' 
        means--
                    ``(A) any qualified stock,
                    ``(B) any qualified partnership interest, and
                    ``(C) any qualified business property.
            ``(2) Qualified stock.--
                    ``(A) In general.--Except as provided in 
                subparagraph (B), the term `qualified stock' means any 
                stock in a domestic corporation if--
                            ``(i) such stock is acquired by the 
                        taxpayer during the 1-year period beginning on 
                        the date of the enactment of this section, at 
                        its original issue (directly or through an 
                        underwriter) from the corporation solely in 
                        exchange for cash,
                            ``(ii) as of the time such stock was 
                        issued, such corporation was a specified 
                        Detroit business (or, in the case of a new 
                        corporation, such corporation was being 
                        organized for purposes of being a specified 
                        Detroit business), and
                            ``(iii) during substantially all of the 
                        taxpayer's holding period for such stock, such 
                        corporation qualified as a specified Detroit 
                        business.
                    ``(B) Redemptions.--A rule similar to the rule of 
                section 1202(c)(3) shall apply for purposes of this 
                paragraph.
            ``(3) Qualified partnership interest.--The term `qualified 
        partnership interest' means any capital or profits interest in 
        a domestic partnership if--
                    ``(A) such interest is acquired by the taxpayer 
                during the 1-year period beginning on the date of the 
                enactment of this section, from the partnership solely 
                in exchange for cash,
                    ``(B) as of the time such interest was acquired, 
                such partnership was a specified Detroit business (or, 
                in the case of a new partnership, such partnership was 
                being organized for purposes of being a specified 
                Detroit business), and
                    ``(C) during substantially all of the taxpayer's 
                holding period for such interest, such partnership 
                qualified as a specified Detroit business.
        A rule similar to the rule of paragraph (2)(B) shall apply for 
        purposes of this paragraph.
            ``(4) Qualified business property.--
                    ``(A) In general.--The term `qualified business 
                property' means tangible property if--
                            ``(i) such property was acquired by the 
                        taxpayer by purchase (as defined in section 
                        179(d)(2)) during the 1-year period beginning 
                        on the date of the enactment of this section,
                            ``(ii) the original use of such property in 
                        Detroit, Michigan, commences with the taxpayer, 
                        and
                            ``(iii) during substantially all of the 
                        taxpayer's holding period for such property, 
                        substantially all of the use of such property 
                        was in a specified Detroit business of the 
                        taxpayer.
                    ``(B) Special rule for substantial improvements.--
                The requirements of clauses (i) and (ii) of 
                subparagraph (A) shall be treated as satisfied with 
                respect to--
                            ``(i) property which is substantially 
                        improved by the taxpayer before the end of the 
                        period described in subparagraph (A)(i), and
                            ``(ii) any land on which such property is 
                        located.
                The determination of whether a property is 
                substantially improved shall be made under clause (ii) 
                of section 1400B(b)(4)(B), except that `the date of the 
                enactment of section 1400V' shall be substituted for 
                `December 31, 1997' in such clause.
    ``(c) Qualified Capital Gain.--For purposes of this section--
            ``(1) In general.--Except as otherwise provided in this 
        subsection, the term `qualified capital gain' means any gain 
        recognized on the sale or exchange of--
                    ``(A) a capital asset, or
                    ``(B) property used in the trade or business (as 
                defined in section 1231(b)).
            ``(2) Gain before enactment not qualified.--The term 
        `qualified capital gain' shall not include any gain 
        attributable to periods before the date of the enactment of 
        this section.
            ``(3) Certain rules to apply.--Rules similar to the rules 
        of paragraphs (3), (4), and (5) of section 1400B(e) shall apply 
        for purposes of this subsection.
    ``(d) Specified Detroit Business.--For purposes of this section, 
the term `specified Detroit business' means any enterprise zone 
business (as defined in section 1397C), determined--
            ``(1) without regard to subsections (b)(6) and (c)(5) 
        thereof,
            ``(2) by substituting `80 percent' for `50 percent' in 
        subsections (b)(2) and (c)(1) thereof,
            ``(3) by treating Detroit, Michigan, as an empowerment zone 
        (and by treating no area other than Detroit, Michigan, as an 
        empowerment zone).
    ``(e) Certain Rules To Apply.--For purposes of this section, rules 
similar to the rules of paragraphs (6) and (7) of subsection (b), and 
subsections (f) and (g), of section 1400B shall apply; except that for 
such purposes section 1400B(g)(2) shall be applied by substituting 
`before the date of the enactment of section 1400V' for `before January 
1, 1998, or after December 31, 2014'.
    ``(f) Regulations.--The Secretary shall prescribe such regulations 
as may be appropriate to carry out the purposes of this section, 
including regulations to prevent the abuse of the purposes of this 
section.''.
    (b) Clerical Amendment.--The table of parts for subchapter Y of 
chapter 1 of such Code is amended by adding at the end the following 
new item:

       ``Part IV. Certain New Investments in Detroit, Michigan''.

    (c) Effective Date.--The amendments made by this section shall 
apply to property acquired after the date of the enactment of this Act.


Output: Detroit Economic Competitiveness Act - Amends the Internal Revenue Code to establish the Detroit Jobs Trust Fund to finance economic development in Detroit, Michigan. Requires the Secretary of the Treasury to make annual distributions from such Fund to the city of Detroit for payment of debt obligations and for job development, public safety, education, and business and public infrastructure. Prohibits any distributions unless the city of Detroit: (1) does not impose an income tax during a period of distribution, (2) has made specified reductions in aggregate property taxes, (3) has used prior distributions as required under this Act, (4) has provided required information to the Comptroller General (GAO), and (5) has implemented a five-year plan describing development goals for Detroit and detailing how distributions from the Trust Fund will be spent. Terminates such Fund five years after enactment of this Act.

Requires GAO to submit annual reports to Congress describing the use of distributions from the Trust Fund, the extent to which progress has been made in meeting the plan's development goals, and Comptroller General recommendations for improving the program established under this Act.

Excludes from gross income capital gain from the sale or exchange of investment property used in trade or business in Detroit.