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SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Sage-Grouse and Mule Deer Habitat 
Conservation and Restoration Act of 2018''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Covered vegetation management activity.--
                    (A) In general.--The term ``covered vegetation 
                management activity'' means any activity described in 
                subparagraph (B) that--
                            (i) is carried out on public land 
                        administered by the Bureau of Land Management;
                            (ii) meets the objectives of the order of 
                        the Secretary numbered 3336 and dated January 
                        5, 2015;
                            (iii) conforms to an applicable land use 
                        plan;
                            (iv) protects, restores, or improves 
                        greater sage-grouse or mule deer habitat in a 
                        sagebrush steppe ecosystem as described in--
                                    (I) Circular 1416 of the United 
                                States Geological Survey entitled 
                                ``Restoration Handbook for Sagebrush 
                                Steppe Ecosystems with Emphasis on 
                                Greater Sage-Grouse Habitat--Part 1. 
                                Concepts for Understanding and Applying 
                                Restoration'' (2015); or
                                    (II) the habitat guidelines for 
                                mule deer published by the Mule Deer 
                                Working Group of the Western 
                                Association of Fish and Wildlife 
                                Agencies;
                            (v) will not permanently impair--
                                    (I) the natural state of the 
                                treated area;
                                    (II) outstanding opportunities for 
                                solitude;
                                    (III) outstanding opportunities for 
                                primitive, unconfined recreation;
                                    (IV) economic opportunities 
                                consistent with multiple-use 
                                management; or
                                    (V) the identified values of a unit 
                                of the National Landscape Conservation 
                                System; and
                            (vi)(I) restores native vegetation 
                        following a natural disturbance;
                            (II) prevents the expansion into greater 
                        sage-grouse or mule deer habitat of--
                                    (aa) juniper, pinyon pine, or other 
                                associated conifers; or
                                    (bb) nonnative or invasive 
                                vegetation;
                            (III) reduces the risk of loss of greater 
                        sage-grouse or mule deer habitat from wildfire 
                        or any other natural disturbance; or
                            (IV) provides emergency stabilization of 
                        soil resources after a natural disturbance.
                    (B) Description of activities.--An activity 
                referred to in subparagraph (A) is--
                            (i) manual cutting and removal of juniper 
                        trees, pinyon pine trees, other associated 
                        conifers, or other nonnative or invasive 
                        vegetation;
                            (ii) mechanical mastication, cutting, or 
                        mowing, mechanical piling and burning, 
                        chaining, broadcast burning, or yarding;
                            (iii) removal of cheat grass, medusa head 
                        rye, or other nonnative, invasive vegetation;
                            (iv) collection and seeding or planting of 
                        native vegetation using a manual, mechanical, 
                        or aerial method;
                            (v) seeding of nonnative, noninvasive, 
                        ruderal vegetation only for the purpose of 
                        emergency stabilization;
                            (vi) targeted use of an herbicide, subject 
                        to the condition that the use shall be in 
                        accordance with applicable legal requirements, 
                        Federal agency procedures, and land use plans;
                            (vii) targeted livestock grazing to 
                        mitigate hazardous fuels and control noxious 
                        and invasive weeds;
                            (viii) temporary removal of wild horses or 
                        burros in the area in which the activity is 
                        being carried out to ensure treatment 
                        objectives are met;
                            (ix) in coordination with the affected 
                        permit holder, modification or adjustment of 
                        permissible usage under an annual plan of use 
                        of a grazing permit issued by the Secretary to 
                        achieve restoration treatment objectives;
                            (x) installation of new, or modification of 
                        existing, fencing or water sources intended to 
                        control use or improve wildlife habitat; or
                            (xi) necessary maintenance of, repairs to, 
                        rehabilitation of, or reconstruction of an 
                        existing permanent road or construction of 
                        temporary roads to accomplish the activities 
                        described in this subparagraph.
                    (C) Exclusions.--The term ``covered vegetation 
                management activity'' does not include--
                            (i) any activity conducted in a wilderness 
                        area or wilderness study area; or
                            (ii) any activity for the construction of a 
                        permanent road or permanent trail.
            (2) Secretary.--The term ``Secretary'' means the Secretary 
        of the Interior.
            (3) Temporary road.--The term ``temporary road'' means a 
        road that is--
                    (A) authorized--
                            (i) by a contract, permit, lease, other 
                        written authorization; or
                            (ii) pursuant to an emergency operation;
                    (B) not intended to be part of the permanent 
                transportation system of a Federal department or 
                agency;
                    (C) not necessary for long-term resource 
                management;
                    (D) designed in accordance with standards 
                appropriate for the intended use of the road, taking 
                into consideration--
                            (i) safety;
                            (ii) the cost of transportation; and
                            (iii) impacts to land and resources; and
                    (E) managed to minimize--
                            (i) erosion; and
                            (ii) the introduction or spread of invasive 
                        species.

SEC. 3. IMPROVEMENT OF HABITAT FOR GREATER SAGE-GROUSE AND MULE DEER.

    (a) Categorical Exclusion.--
            (1) In general.--Not later than 1 year after the date of 
        the enactment of this Act, the Secretary shall develop 1 or 
        more categorical exclusions (as defined in section 1508.4 of 
        title 40, Code of Federal Regulations (or a successor 
        regulation)) for covered vegetation management activities 
        carried out to protect, restore, or improve habitat for greater 
        sage-grouse or mule deer.
            (2) Administration.--In developing and administering a 
        categorical exclusion under paragraph (1), the Secretary 
        shall--
                    (A) comply with the National Environmental Policy 
                Act of 1969 (42 U.S.C. 4321 et seq.);
                    (B) apply the extraordinary circumstances 
                procedures under section 220.6 of title 36, Code of 
                Federal Regulations (or successor regulations), in 
                determining whether to use the categorical exclusion; 
                and
                    (C) consider--
                            (i) the relative efficacy of landscape-
                        scale habitat projects;
                            (ii) the likelihood of continued declines 
                        in the populations of greater sage-grouse and 
                        mule deer in the absence of landscape-scale 
                        vegetation management; and
                            (iii) the need for habitat restoration 
                        activities after wildfire or other natural 
                        disturbances.
    (b) Implementation of Covered Vegetative Management Activities 
Within the Range of Greater Sage-grouse and Mule Deer.--If a 
categorical exclusion developed under subsection (a) is used to 
implement a covered vegetative management activity in an area within 
the range of both greater sage-grouse and mule deer, the covered 
vegetative management activity shall protect, restore, or improve 
habitat concurrently for both greater sage-grouse and mule deer.
    (c) Long-term Monitoring and Maintenance.--Before commencing any 
covered vegetation management activity that is covered by a categorical 
exclusion under subsection (a), the Secretary shall develop a long-term 
monitoring and maintenance plan, covering at least the 20 year-period 
beginning on the date of commencement, to ensure that management of the 
treated area does not degrade the habitat gains secured by the covered 
vegetation management activity.
    (d) Disposal of Vegetative Material.--Subject to applicable local 
restrictions, any vegetative material resulting from a covered 
vegetation management activity that is covered by a categorical 
exclusion under subsection (a) may be--
            (1) used for--
                    (A) fuel wood; or
                    (B) other products; or
            (2) piled or burned, or both.
    (e) Treatment for Temporary Roads.--
            (1) In general.--Notwithstanding section 2(1)(B)(xi), any 
        temporary road constructed in carrying out a covered vegetation 
        management activity that is covered by a categorical exclusion 
        under subsection (a)--
                    (A) shall be used by the Secretary for the covered 
                vegetation management activity for not more than 2 
                years; and
                    (B) shall be decommissioned by the Secretary not 
                later than 3 years after the earlier of the date on 
                which--
                            (i) the temporary road is no longer needed; 
                        and
                            (ii) the project is completed.
            (2) Requirement.--A treatment under paragraph (1) shall 
        include reestablishing native vegetative cover--
                    (A) as soon as practicable; but
                    (B) not later than 10 years after the date of 
                completion of the applicable covered vegetation 
                management activity.

            Passed the Senate September 6, 2018.

            Attest:

                                                JULIE E. ADAMS,

                                                             Secretary.
Sage-Grouse and Mule Deer Habitat Conservation and Restoration Act of 2017 This bill directs the Department of Interior to categorically exclude vegetative management activities that establish or improve habitat for greater sage-grouse and mule deer from environmental review requirements under the National Environmental Policy Act of 1969 (NEPA). Examples of vegetative management activities include restoring native vegetation following a natural disturbance or preventing the expansion of nonnative or invasive vegetation into such habitat.  A categorical exclusion under NEPA is a category of actions which do not have a significant effect on the human environment and for which neither an Environmental Assessment nor an Environmental Impact Statement is required. The bill prohibits the categorical exclusion from including: (1) activity conducted in a wilderness area or wilderness study area, or (2) activity for the construction of a permanent road or trail. Before commencing a vegetative management activity that is covered by a categorical exclusion, Interior must develop a long-term monitoring and maintenance plan, covering at least 20 years, to ensure that management of the treated area does not degrade the habitat gains secured by the vegetative management activity. Vegetative material resulting from vegetative management activity may be: (1) used for fuel wood or other products; or (2) piled or burned, or both.  Native vegetative cover must be reestablished on a temporary road constructed in connection with a categorically excluded vegetative management activity in order to minimize soil erosion from areas disturbed by the temporary road.

SECTION 1. SHORT TITLE.
    This Act may be cited as the ``Fair Treatment for Experienced 
Pilots Act''.
SEC. 2. AGE STANDARDS FOR PILOTS.
    (a) In General.--Chapter 447 of title 49, United States Code, is 
amended by adding at the end the following:
``Sec. 44729. Age standards for pilots
    ``(a) In General.--Subject to the limitation in subsection (c), a 
pilot may serve in multicrew covered operations until attaining 65 
years of age.
    ``(b) Covered Operations Defined.--In this section, the term 
`covered operations' means operations under part 121 of title 14, Code 
of Federal Regulations.
    ``(c) Limitation for International Flights.--
        ``(1) Applicability of icao standard.--A pilot who has attained 
    60 years of age may serve as pilot-in-command in covered operations 
    between the United States and another country only if there is 
    another pilot in the flight deck crew who has not yet attained 60 
    years of age.
        ``(2) Sunset of limitation.--Paragraph (1) shall cease to be 
    effective on such date as the Convention on International Civil 
    Aviation provides that a pilot who has attained 60 years of age may 
    serve as pilot-in-command in international commercial operations 
    without regard to whether there is another pilot in the flight deck 
    crew who has not attained age 60.
    ``(d) Sunset of Age 60 Retirement Rule.--On and after the date of 
enactment of this section, section 121.383(c) of title 14, Code of 
Federal Regulations, shall cease to be effective.
    ``(e) Applicability.--
        ``(1) Nonretroactivity.--No person who has attained 60 years of 
    age before the date of enactment of this section may serve as a 
    pilot for an air carrier engaged in covered operations unless--
            ``(A) such person is in the employment of that air carrier 
        in such operations on such date of enactment as a required 
        flight deck crew member; or
            ``(B) such person is newly hired by an air carrier as a 
        pilot on or after such date of enactment without credit for 
        prior seniority or prior longevity for benefits or other terms 
        related to length of service prior to the date of rehire under 
        any labor agreement or employment policies of the air carrier.
        ``(2) Protection for compliance.--An action taken in 
    conformance with this section, taken in conformance with a 
    regulation issued to carry out this section, or taken prior to the 
    date of enactment of this section in conformance with section 
    121.383(c) of title 14, Code of Federal Regulations (as in effect 
    before such date of enactment), may not serve as a basis for 
    liability or relief in a proceeding, brought under any employment 
    law or regulation, before any court or agency of the United States 
    or of any State or locality.
    ``(f) Amendments to Labor Agreements and Benefit Plans.--Any 
amendment to a labor agreement or benefit plan of an air carrier that 
is required to conform with the requirements of this section or a 
regulation issued to carry out this section, and is applicable to 
pilots represented for collective bargaining, shall be made by 
agreement of the air carrier and the designated bargaining 
representative of the pilots of the air carrier.
    ``(g) Medical Standards and Records.--
        ``(1) Medical examinations and standards.--Except as provided 
    by paragraph (2), a person serving as a pilot for an air carrier 
    engaged in covered operations shall not be subject to different 
    medical standards, or different, greater, or more frequent medical 
    examinations, on account of age unless the Secretary determines 
    (based on data received or studies published after the date of 
    enactment of this section) that different medical standards, or 
    different, greater, or more frequent medical examinations, are 
    needed to ensure an adequate level of safety in flight.
        ``(2) Duration of first-class medical certificate.--No person 
    who has attained 60 years of age may serve as a pilot of an air 
    carrier engaged in covered operations unless the person has a 
    first-class medical certificate. Such a certificate shall expire on 
    the last day of the 6-month period following the date of 
    examination shown on the certificate.
    ``(h) Safety.--
        ``(1) Training.--Each air carrier engaged in covered operations 
    shall continue to use pilot training and qualification programs 
    approved by the Federal Aviation Administration, with specific 
    emphasis on initial and recurrent training and qualification of 
    pilots who have attained 60 years of age, to ensure continued 
    acceptable levels of pilot skill and judgment.
        ``(2) Line evaluations.--Not later than 6 months after the date 
    of enactment of this section, and every 6 months thereafter, an air 
    carrier engaged in covered operations shall evaluate the 
    performance of each pilot of the air carrier who has attained 60 
    years of age through a line check of such pilot. Notwithstanding 
    the preceding sentence, an air carrier shall not be required to 
    conduct for a 6-month period a line check under this paragraph of a 
    pilot serving as second-in-command if the pilot has undergone a 
    regularly scheduled simulator evaluation during that period.
        ``(3) GAO report.--Not later than 24 months after the date of 
    enactment of this section, the Comptroller General shall submit to 
    the Committee on Transportation and Infrastructure of the House of 
    Representatives and the Committee on Commerce, Science, and 
    Transportation of the Senate a report concerning the effect, if 
    any, on aviation safety of the modification to pilot age standards 
    made by subsection (a).''.
    (b) Clerical Amendment.--The analysis for chapter 447 of title 49, 
United States Code, is amended by adding at the end the following:

``44729. Age standards for pilots.''.


                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.
Fair Treatment for Experienced Pilots Act - Amends federal transportation law to allow a pilot who has attained 60 years of age to serve as a passenger airline pilot until the age of 65, provided that a pilot who has attained age 60 may serve as pilot-in-command on international flights only if there is another pilot in the flight crew who has not yet attained 60 years of age.

Prohibits subjecting pilots to different medical examinations and standards on account of age unless to ensure an adequate level of safety in flight, except that no person who has attained 60 years of age may serve as a pilot unless such person has a first-class medical certificate.

Requires air carriers to: (1) continue to provide FAA-approved training to pilots, with specific emphasis on initial and recurring training and qualification of pilots who have attained 60 years of age; and (2) evaluate, every six months, the performance of pilots who have attained 60 years of age through a line check of such pilot.

Requires the Comptroller General to report to Congress on the effect of the modification of pilot age requirements, if any, on aviation safety.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Bailout Prevention Act of 2017''.

SEC. 2. DISCOUNTS FOR INDIVIDUALS, PARTNERSHIPS, AND CORPORATIONS.

    Section 13(3)(B) of the Federal Reserve Act (12 U.S.C. 343(3)(B)) 
is amended by striking clauses (ii) and (iii) and inserting the 
following:
                    ``(ii)(I) The Board shall establish procedures to 
                prohibit borrowing from programs and facilities by 
                borrowers that are insolvent. A borrower shall not be 
                eligible to borrow from any emergency lending program 
                or facility unless the Board and all Federal banking 
                regulators with jurisdiction over the borrower certify 
                that, at the time the borrower initially borrows under 
                the program or facility, the borrower is not insolvent. 
                Solvency shall be assessed by examining the last 4 
                months of relevant financial data and determining 
                whether the fair value of the borrower's assets exceeds 
                the fair value of the borrower's liabilities, with 
                appropriate adjustment for temporary illiquidity in 
                relevant markets.
                    ``(II) A borrower shall be considered insolvent for 
                purposes of this subparagraph if the borrower is--
                            ``(aa) in bankruptcy, resolution under 
                        title II of the Dodd-Frank Wall Street Reform 
                        and Consumer Protection Act (12 U.S.C. 5381 et 
                        seq.), or any other Federal or State insolvency 
                        proceeding; or
                            ``(bb) a bridge financial company (as 
                        defined in section 201(a) of the Dodd-Frank 
                        Wall Street Reform and Consumer Protection Act 
                        (12 U.S.C. 5381(a))) or a bridge depository 
                        institution (as defined in section 3 of the 
                        Federal Deposit Insurance Act (12 U.S.C. 
                        1813)).
                    ``(III) If the Board or any other banking regulator 
                makes a certification of solvency, the Board or banking 
                regulator, as applicable, shall issue a contemporaneous 
                public statement providing a detailed explanation of 
                the certification decision.
                    ``(iii) A program or facility shall be considered a 
                program or facility with broad-based eligibility only 
                if not fewer than 5 companies are eligible to 
                participate in the program or facility in a significant 
                manner.''.

SEC. 3. PENALTY RATE REQUIREMENT; CONGRESSIONAL APPROVAL REQUIREMENT.

    Section 13(3) of the Federal Reserve Act (12 U.S.C. 343(3)) is 
amended by adding at the end the following:
                    ``(F) Any emergency lending under this paragraph 
                shall be provided at an annual interest rate not less 
                than 500 basis points greater than the cost of 
                borrowing for the United States Treasury for a 
                commensurate loan term.
                    ``(G)(i) If the Board determines that the Board 
                shall create an emergency lending program or facility 
                that does not comply with the broad-based eligibility 
                requirement described in subparagraph (B)(iii) or the 
                penalty rate requirement described in subparagraph (F), 
                the Board--
                            ``(I) may create such a program or 
                        facility; and
                            ``(II) not later than 3 days after the date 
                        on which a program or facility is created under 
                        clause (i), shall submit to Congress a report 
                        that describes the reasons why the Board is 
                        unable to comply with any requirement described 
                        in the matter preceding subclause (I).
                    ``(ii)(I) A program or facility created under 
                clause (i)(I) shall terminate on the date that is 30 
                calendar days after the date on which Congress receives 
                a report described in clause (i)(II) unless there is 
                enacted into law a joint resolution approving the 
                program or facility not later than 30 calendar days 
                after the date on which the report is received. Any 
                loan offered through the program or facility that are 
                outstanding as of the date on which the facility is 
                terminated shall be repaid in full not later than 30 
                calendar days after the date on which the program or 
                facility is terminated.
                    ``(II) For the purpose of this section, the term 
                `joint resolution' means only a joint resolution--
                            ``(aa) that is introduced not later than 3 
                        calendar days after the date on which the 
                        report referred to in clause (i)(I) is received 
                        by Congress;
                            ``(bb) that does not have a preamble;
                            ``(cc) the title of which is as follows: 
                        `Joint resolution relating to the approval of a 
                        program or facility created by the Board of 
                        Governors of the Federal Reserve System'; and
                            ``(dd) the matter after the resolving 
                        clause of which is as follows: `That Congress 
                        approves the program or facility created by the 
                        Board of Governors of the Federal Reserve 
                        System on __________.' (The blank space being 
                        appropriately filled in).
                    ``(III)(aa) Upon receipt of a report under 
                subsection (a)(3), the Speaker, if the House would 
                otherwise be adjourned, shall notify the Members of the 
                House that, pursuant to this section, the House shall 
                convene not later than the second calendar day after 
                receipt of such report.
                    ``(bb) Any committee of the House of 
                Representatives to which a joint resolution is referred 
                shall report it to the House not later than 5 calendar 
                days after the date of receipt of the report described 
                in clause (i)(II). If a committee fails to report the 
                joint resolution within that period, the committee 
                shall be discharged from further consideration of the 
                joint resolution and the joint resolution shall be 
                referred to the appropriate calendar.
                    ``(cc) After each committee authorized to consider 
                a joint resolution reports it to the House or has been 
                discharged from its consideration, it shall be in 
                order, not later than the sixth day after Congress 
                receives the report described in clause (i)(II), to 
                move to proceed to consider the joint resolution in the 
                House. All points of order against the motion are 
                waived. Such a motion shall not be in order after the 
                House has disposed of a motion to proceed on the joint 
                resolution. The previous question shall be considered 
                as ordered on the motion to its adoption without 
                intervening motion. The motion shall not be debatable. 
                A motion to reconsider the vote by which the motion is 
                disposed of shall not be in order.
                    ``(dd) The joint resolution shall be considered as 
                read. All points of order against the joint resolution 
                and against its consideration are waived. The previous 
                question shall be considered as ordered on the joint 
                resolution to its passage without intervening motion 
                except 2 hours of debate equally divided and controlled 
                by the proponent and an opponent. A motion to 
                reconsider the vote on passage of the joint resolution 
                shall not be in order.
                    ``(IV)(aa) Upon receipt of a report under clause 
                (i)(II), if the Senate has adjourned or recessed for 
                more than 2 days, the majority leader of the Senate, 
                after consultation with the minority leader of the 
                Senate, shall notify the Members of the Senate that, 
                pursuant to this subparagraph, the Senate shall convene 
                not later than the second calendar day after receipt of 
                such message.
                    ``(bb) Upon introduction in the Senate, the joint 
                resolution shall be placed immediately on the calendar.
                    ``(cc)(AA) Notwithstanding Rule XXII of the 
                Standing Rules of the Senate, it is in order at any 
                time during the period beginning on the fourth day 
                after the date on which Congress receives a report 
                described in clause (i)(II) and ending on the sixth day 
                after the date on which Congress receives the report 
                (even though a previous motion to the same effect has 
                been disagreed to) to move to proceed to the 
                consideration of the joint resolution, and all points 
                of order against the joint resolution (and against 
                consideration of the joint resolution) are waived. The 
                motion to proceed is not debatable. The motion is not 
                subject to a motion to postpone. A motion to reconsider 
                the vote by which the motion is agreed to or disagreed 
                to shall not be in order. If a motion to proceed to the 
                consideration of the resolution is agreed to, the joint 
                resolution shall remain the unfinished business until 
                disposed of.
                    ``(BB) Debate on the joint resolution, and on all 
                debatable motions and appeals in connection therewith, 
                shall be limited to not more than 10 hours, which shall 
                be divided equally between the majority and minority 
                leaders or their designees. A motion further to limit 
                debate is in order and not debatable. An amendment to, 
                or a motion to postpone, or a motion to proceed to the 
                consideration of other business, or a motion to 
                recommit the joint resolution is not in order.
                    ``(CC) The vote on passage shall occur immediately 
                following the conclusion of the debate on a joint 
                resolution, and a single quorum call at the conclusion 
                of the debate if requested in accordance with the rules 
                of the Senate.
                    ``(DD) Appeals from the decisions of the Chair 
                relating to the application of the rules of the Senate, 
                as the case may be, to the procedure relating to a 
                joint resolution shall be decided without debate.
                    ``(V)(aa) If, before the passage by one House of a 
                joint resolution of that House, that House receives 
                from the other House a joint resolution, then the 
                following procedures shall apply:
                            ``(AA) The joint resolution of the other 
                        House shall not be referred to a committee.
                            ``(BB) With respect to a joint resolution 
                        of the House receiving the resolution--
                            ``(CC) the procedure in that House shall be 
                        the same as if no joint resolution had been 
                        received from the other House; but
                            ``(DD) the vote on passage shall be on the 
                        joint resolution of the other House.
                    ``(bb) If one House fails to introduce or consider 
                a joint resolution under this section, the joint 
                resolution of the other House shall be entitled to 
                expedited floor procedures under this section.
                    ``(cc) If, following passage of the joint 
                resolution in the Senate, the Senate then receives the 
                companion measure from the House of Representatives, 
                the companion measure shall not be debatable.
                    ``(dd) If the President vetoes the joint 
                resolution, the period beginning on the date the 
                President vetoes the joint resolution and ending on the 
                date the Congress receives the veto message with 
                respect to the joint resolution shall be disregarded in 
                computing the 30-calendar-day period described in 
                subclause (I) and debate on a veto message in the 
                Senate under this section shall be 1 hour equally 
                divided between the majority and minority leaders or 
                their designees.
                    ``(ee) This subclause and subclauses (II), (III), 
                and (IV) are enacted by Congress--
                            ``(AA) as an exercise of the rulemaking 
                        power of the Senate and House of 
                        Representatives, respectively, and as such it 
                        is deemed a part of the rules of each House, 
                        respectively, but applicable only with respect 
                        to the procedure to be followed in that House 
                        in the case of a joint resolution, and it 
                        supersedes other rules only to the extent that 
                        it is inconsistent with such rules; and
                            ``(BB) with full recognition of the 
                        constitutional right of either House to change 
                        the rules (so far as relating to the procedure 
                        of that House) at any time, in the same manner, 
                        and to the same extent as in the case of any 
                        other rule of that House.''.

SEC. 4. PUBLIC DISCLOSURE OF INFORMATION RELATED TO CREDIT FACILITIES.

    (a) Reports on GAO Audits.--Section 714(f)(3)(C)(iii) of title 31, 
United States Code, is amended--
            (1) by striking ``1 year'' and inserting ``60 days''; and
            (2) by striking ``24 months'' and inserting ``60 days''.
    (b) Public Disclosures by the Board of Governors.--Section 11 of 
the Federal Reserve Act (12 U.S.C. 248) is amended--
            (1) in the first subsection (s) (relating to transparency 
        and the release of information)--
                    (A) in paragraph (2)--
                            (i) in subparagraph (A), by striking ``1 
                        year'' and inserting ``60 days''; and
                            (ii) in subparagraph (B), by striking ``the 
                        last day of the eighth calendar quarter 
                        following the calendar quarter in which'' and 
                        inserting ``the date that is 60 days after the 
                        date on which''; and
                    (B) in paragraph (5), by striking ``24-month'' and 
                inserting ``60 days''; and
            (2) by redesignating the second subsection (s) (relating to 
        assessments, fees, and other charges) as subsection (t).

Bailout Prevention Act of 2017 This bill amends the Federal Reserve Act to declare a borrower ineligible to borrow from any emergency lending program or facility unless the Board of Governors of the Federal Reserve System (the Board) and all federal banking regulators with jurisdiction over the borrower certify that, at the time the borrower initially borrows under the program or facility, the borrower is not insolvent. Solvency shall be assessed by examining the last four months of relevant financial data and determining whether the fair value of the borrower's assets exceeds its liabilities, with appropriate adjustment for temporary illiquidity in the relevant markets. A borrower shall be deemed insolvent for such purposes if it is in bankruptcy, resolution under title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or any other federal or state insolvency proceedings, or is a bridge financial company or a bridge depository institution. A program shall be considered one with &quot;broad-based eligibility&quot; only if at least five companies are eligible to participate in the program in a significant manner. The annual interest rate for emergency lending must be at least 500 basis points greater than the cost of borrowing for the Treasury for a commensurate loan term.  The Board may create an emergency lending program or facility that does not meet the broad-based eligibility requirement or the interest rate requirement, but only if Congress enacts into law a joint resolution of approval within 30 days. The bill reduces the timing of various reporting requirements of the Government Accountability Office and the Board from 1-2 years to 60 days.