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

Example Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Handgun Purchaser Licensing Act''.

SEC. 2. FINDINGS.

    Congress finds as follows:
            (1) In 2013, more than 33,000 Americans were killed by guns 
        and almost 90 percent of the firearms used in these deaths were 
        handguns.
            (2) Recently published research by top national experts, 
        notably on Missouri and Connecticut handgun purchaser licensing 
        laws, have estimated that Missouri's repeal of its handgun 
        purchaser licensing law led to a 25-percent increase in firearm 
        homicide rates while Connecticut's adoption of its handgun 
        purchaser licensing law led to a 40-percent decrease in firearm 
        homicide rates.
            (3) In States which have had effective handgun purchaser 
        licensing laws for decades, such as Connecticut, Massachusetts, 
        New Jersey, and New York, the vast majority of guns traced to 
        crimes originated in other States, which supports the need for 
        handgun purchaser licensing laws in every State.

SEC. 3. DEFINITIONS.

    In this Act--
            (1) the terms ``Attorney General'' and ``handgun'' have the 
        meanings given those terms in section 921(a) of title 18, 
        United States Code; and
            (2) the term ``Indian tribe'' has the meaning given the 
        term in section 4 of the Indian Self-Determination and 
        Education Assistance Act (25 U.S.C. 450b).

SEC. 4. GRANT PROGRAM AUTHORIZED FOR HANDGUN LICENSING.

    (a) In General.--The Attorney General is authorized to award grants 
to States, units of local government, and Indian tribes for the 
development, implementation, and evaluation of handgun purchaser 
licensing requirements.
    (b) Program Authorized.--From the amounts appropriated to carry out 
this Act and not later than 90 days after such amounts are 
appropriated, the Attorney General shall award grants, on a competitive 
basis, to eligible applicants whose applications are approved under 
subsection (c) to assist such applicants in implementing and improving 
handgun purchaser licensing programs.
    (c) Application.--To be eligible to receive a grant under this Act, 
a State, unit of local government, or Indian tribe shall submit to the 
Attorney General an application at such time, in such manner, and 
containing such information as the Attorney General may require, 
including--
            (1) a description of the law that the applicant has enacted 
        to require a license for any purchase of a handgun including a 
        description of any exemptions to such law; and
            (2) a description of how the applicant will use the grant 
        to carry out or improve its handgun purchaser licensing 
        program.
    (d) Eligibility Requirements.--To be eligible for a grant under 
this Act, an applicant shall have in effect handgun purchaser licensing 
laws that--
            (1) require--
                    (A) an individual applying for a handgun license or 
                permit to be at least 21 years old and be a national or 
                lawful permanent resident of the United States;
                    (B) an individual described in subparagraph (A) to 
                apply for the handgun purchaser license or permit at a 
                law enforcement agency in the State in which the 
                individual resides;
                    (C) an individual who is issued a handgun license 
                or permit to reapply for the handgun purchaser license 
                or permit after a period not longer than 5 years;
                    (D) an individual described in subparagraph (A) to 
                submit to a background investigation, and a criminal 
                history check, in connection with the application, as 
                established by the State;
                    (E) an individual described in subparagraph (A) to 
                submit fingerprints and photographs in connection with 
                the application for the license or permit; and
                    (F) an individual described in subparagraph (A) to 
                provide--
                            (i) proof that the individual is legally 
                        present and lawfully resides in the United 
                        States, including a birth certificate, or valid 
                        passport; and
                            (ii)(I) in the case of a lawful permanent 
                        resident, the alien registration number and 90-
                        day proof of residency; or
                            (II) in the case of a naturalized citizen, 
                        proof of citizenship; and
            (2) prohibit an individual who is prohibited from 
        possessing a firearm under section 922(g) of title 18, United 
        States Code, from receiving a license or permit.
    (e) Use of Funds.--A grantee under this Act shall use such grant to 
improve handgun purchaser licensing programs of that grantee.

SEC. 5. AUTHORIZATION OF APPROPRIATIONS.

    There are authorized to be appropriated to the Attorney General 
such sums as may be necessary to carry out this Act.
Example Output: Handgun Purchaser Licensing Act Authorizes the Attorney General to award grants to states, units of local government, and Indian tribes for the development, implementation, and evaluation of handgun purchaser licensing requirements. Directs the Attorney General to award grants, on a competitive basis, to eligible applicants whose applications are approved to assist them in implementing and improving handgun purchaser licensing programs. Directs a state, local government, or tribe, to be eligible to receive a grant, to submit to the Attorney General an application that meets specified requirements, including a description of: (1) the law that the applicant has enacted to require a license for any purchase of a handgun, including exemptions to such law; and (2) how the applicant will use the grant to carry out or improve its program. Requires an applicant, to be eligible for a grant, to have in effect handgun purchaser licensing laws that:  require an applicant for a handgun license or permit to be at least 21 years old and to be a national or lawful permanent resident of the United States; require such an individual to apply for the license or permit at a law enforcement agency in the state in which he or she resides, to reapply for an issued license after a period not longer than five years, and to submit to a background investigation and a criminal history check; require such an individual to submit fingerprints and photographs in connection with the application and to provide proof that the individual is legally present and lawfully resides in the United States; and bar any individual who is prohibited from possessing a firearm under the federal criminal code from receiving a license or permit.   Requires a grantee to use such grant to improve its handgun purchaser licensing programs.

Example 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.
Example 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.

Example Input: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Federal Deposit Insurance 
Corporation Regulatory Flexibility Act of 1995''.

SEC. 2. ADMINISTRATION OF FICO ASSESSMENTS BY FDIC.

    Section 21(f)(2) of the Federal Home Loan Bank Act (12 U.S.C. 
1441(f)(2)) is amended by striking ``the Financing Corporation, with 
the approval of the Board of Directors of the Federal Deposit Insurance 
Corporation'' and inserting ``the Board of Directors of the Federal 
Deposit Insurance Corporation, after consultation with the Financing 
Corporation,''.

SEC. 3. AVAILABILITY OF RTC FUNDS FOR DEPOSIT INSURANCE PURPOSES.

    Section 11(a) of the Federal Deposit Insurance Act (12 U.S.C. 
1821(a)) is amended--
            (1) by adding at the end the following new paragraph:
            ``(9) Availability of rtc funding.--
                    ``(A) In general.--The Secretary of the Treasury 
                shall provide, out of funds appropriated to the 
                Resolution Trust Corporation under section 21A(i)(3) of 
                the Federal Home Loan Bank Act and not needed by the 
                Resolution Trust Corporation, to the Corporation, at 
                the request of the Board of Directors, such amounts as 
                the Board of Directors requests for any of the 
                following purposes:
                            ``(i) To cover the interest payments, 
                        issuance costs, and custodial fees on 
                        obligations issued by the Financing 
                        Corporation.
                            ``(ii) To make deposits in the Savings 
                        Association Insurance Fund of such amounts as 
                        may be needed to carry out the purposes of this 
                        Act.
                            ``(iii) To satisfy claims against the 
                        Federal Government arising from changes in the 
                        statutory treatment of supervisory goodwill (on 
                        the books of the Corporation as of the date of 
                        the enactment of Financial Institutions Reform, 
                        Recovery, and Enforcement Act of 1989) pursuant 
                        to section 5(t) of the Home Owners' Loan Act.
                    ``(B) Return to treasury.--If the aggregate amount 
                of funds transferred to the Corporation under 
                subparagraph (A) exceeds the amount necessary to carry 
                out the purposes of such subparagraph, such excess 
                amounts shall be deposited in the general fund of the 
                Treasury.''.

SEC. 4. LIMITED FDIC AUTHORITY TO TEMPORARILY TRANSFER FUNDS BETWEEN 
              THE BIF AND SAIF.

    Section 11(a)(4) of the Federal Deposit Insurance Act (12 U.S.C. 
1821(a)) is amended by adding at the end the following new 
subparagraph:
                    ``(C) Transfer of funds.--Notwithstanding 
                subparagraph (A), the Corporation may transfer, for 
                such period of time and under such conditions as the 
                Corporation determines to be appropriate, an amount not 
                to exceed the amount equal to .03 percent of the 
                assessment base of any deposit insurance fund from such 
                fund to another deposit insurance fund to the extent 
                necessary to achieve or maintain the designated reserve 
                ratio of the fund to which such assets are 
                transferred.''.

SEC. 5. 1-TIME SPECIAL SAIF CAPITALIZATION ASSESSMENT.

    Section 7(b) of the Federal Deposit Insurance Act (12 U.S.C. 
1817(b)) is amended by adding at the end the following new paragraph:
            ``(8) Special 1-time assessment to recapitalize saif.--
                    ``(A) In general.--The Corporation may, in the 
                discretion of the Board of Directors, impose a special 
                assessment on each Savings Association Insurance Fund 
                member in an amount not greater than 0.40 percent of 
                the assessment base, as of January 1, 1995, on which 
                assessments are imposed under the risk-based assessment 
                system established pursuant to paragraph (1).
                    ``(B) Deposit of assessment in saif.--The proceeds 
                of any assessment imposed under subparagraph (A) shall 
                be deposited in the Savings Association Insurance Fund.
                    ``(C) Imposition over period of years.--The 
                assessment authorized under subparagraph (A) may be 
                imposed incrementally over such period of years as the 
                Board of Directors may determine to be appropriate, 
                except the larger percentage of any such incremental 
                assessment shall be allocated to the first year of the 
                effective period for such assessment.
                    ``(D) Abatement for troubled institutions.--The 
                Board of Directors may abate any portion of any 
                assessment under this paragraph in the case of any 
                undercapitalized institution or any institution which 
                would become undercapitalized as a result of the 
                imposition of such assessment.''.

SEC. 6. ESTABLISHMENT OF DESIGNATED RESERVE RATIO AS A FLOOR RATHER 
              THAN A TARGET.

    (a) Section 7(b)(2)(A)(iv) of the Federal Deposit Insurance Act (12 
U.S.C. 1817(b)(2)(A)(iv)) is amended to read as follows:
                            ``(iv) Establishment of designated reserve 
                        ratio.--The Board of Directors shall establish 
                        the designated reserve ratio for each insurance 
                        fund in accordance with the following:
                                    ``(I) The designated reserve ratio 
                                of any insurance fund shall be not less 
                                than 1.25 percent of the estimated 
                                insured deposits of members of such 
                                fund.
                                    ``(II) The ratio of any insurance 
                                fund shall be established at an amount 
                                which the Board of Directors determines 
                                will provide for an appropriate amount 
                                of reserves against losses which may 
                                reasonably be expected to be incurred 
                                by the fund without resulting in an 
                                excessive buildup in the fund.''.
    (b) Reduction in Assessment Rate if Designated Reserve Ratio Is 
Met.--Section 7(b)(2)(A) of the Federal Deposit Insurance Act (12 
U.S.C. 1817(b)(2)(A)) is amended by adding at the end the following new 
clause:
                            ``(v) Clarification of authority to reduce 
                        assessments amounts.--The authority of the 
                        Board of Directors to set semiannual 
                        assessments to maintain the reserve ratio of 
                        any insurance fund at the designated reserve 
                        ratio includes the authority to reduce such 
                        assessments by any appropriate amount if the 
                        reserve ratio of such fund is equal to or 
                        greater than the minimum designated reserve 
                        ratio of such fund.''.

SEC. 7. CLARIFICATION ON USE OF INSURANCE FUND ASSESSMENTS.

    Section 7(b) of the Federal Deposit Insurance Act (12 U.S.C. 
1817(b)) is amended by adding at the end the following new paragraph:
            ``(8) Use of insurance assessments.--Amounts received by 
        the Corporation pursuant to assessments on insured depository 
        institution under this subsection shall be used primarily for 
        insurance fund purposes and shall not be unduly diverted to 
        other uses.''.

SEC. 8. CLARIFICATION THAT CERTAIN INSTITUTIONS INSURED BY THE SAIF ARE 
              SUBJECT TO FICO ASSESSMENTS.

    Section 21(f)(2) of the Federal Home Loan Bank Act (12 U.S.C. 
1441(f)(2)) is amended by inserting after ``Savings Association 
Insurance Fund member'' the following: ``, including any Savings 
Association Insurance Fund member referred to in section 5(d)(2)(G) of 
the Federal Deposit Insurance Act and, in the case of any Bank 
Insurance Fund member which has deposits which are treated (under 
section 5(d)(3) of such Act) as deposits which are insured by the 
Savings Association Insurance Fund, the adjusted attributable deposit 
amount with respect to such member as determined under subparagraph (C) 
of section 5(e)(3) of such Act for purposes of subparagraph (B)(i) of 
such section,''.

SEC. 9. REPEAL OF MINIMUM SAIF ASSESSMENT RULE.

    Section 7(b)(2) of the Federal Deposit Insurance Act (12 U.S.C. 
1817(b)(2)) is amended by striking subparagraph (E).
Example Output:
Federal Deposit Insurance Corporation Regulatory Flexibility Act of 1995 - Amends the Federal Home Loan Bank Act (FHLBA) to require the Board of Directors of the Federal Deposit Insurance Corporation (FDIC), after consultation with the Financing Corporation (FICO), (currently, FICO, with FDIC Board approval) to place a prescribed assessment against each Savings Association Insurance Fund (SAIF) member in order to cover interest payments, issuance costs, and custodial fees of certain FICO obligations. 
Amends the Federal Deposit Insurance Act (FDIA) to direct the Secretary of the Treasury to provide to the FDIC, upon its request, certain funds not needed by the Resolution Trust Corporation (RTC), in order to cover the same FICO costs. 
Authorizes the FDIC to transfer, for an appropriate period of time, up to a certain percentage of a fund's assessment base between the Bank Insurance Fund (BIF) and the SAIF as necessary to achieve or maintain the designated reserve ratio of the transferee fund. 
Amends the FDIA to authorize the FDIC to impose a one-time special SAIF capitalization assessment. 
Reformulates the designated reserve ratio for each deposit insurance fund to establish a minimum instead of a target amount. Empowers the FDIC Board of Directors to reduce semiannual assessments if an insurance fund's reserve ratio is equal to or greater than its minimum designated reserve ratio. 
Mandates that insurance assessments be used primarily for insurance fund purposes and not be unduly diverted to other uses. 
Amends the FHLBA to include within FICO assessment authority specified SAIF members as well as BIF members whose deposits are treated as insured by the SAIF. 
Amends the FDIA to repeal the minimum assessment requirements for any insured deposit insurance fund (including the SAIF).