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

Q: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Captive Primate Safety Act''.

SEC. 2. ADDITION OF NONHUMAN PRIMATES TO DEFINITION OF PROHIBITED 
              WILDLIFE SPECIES.

    Section 2(g) of the Lacey Act Amendments of 1981 (16 U.S.C. 
3371(g)) is amended by inserting before the period at the end ``or any 
nonhuman primate''.

SEC. 3. CAPTIVE WILDLIFE AMENDMENTS.

    (a) Prohibited Acts.--Section 3 of the Lacey Act Amendments of 1981 
(16 U.S.C. 3372) is amended--
            (1) in subsection (a)--
                    (A) in paragraph (2)--
                            (i) in subparagraph (A), by inserting 
                        ``or'' after the semicolon;
                            (ii) in subparagraph (B)(iii), by striking 
                        ``; or'' and inserting a semicolon; and
                            (iii) by striking subparagraph (C); and
                    (B) in paragraph (4), by inserting ``or subsection 
                (e)'' before the period; and
            (2) in subsection (e)--
                    (A) by redesignating paragraphs (2), (3), (4), and 
                (5) as paragraphs (3), (4), (5), and (6) respectively;
                    (B) by striking ``(e)'' and all that follows 
                through ``Subsection (a)(2)(C) does not apply'' in 
                paragraph (1) and inserting the following:
    ``(e) Captive Wildlife Offense.--
            ``(1) In general.--It is unlawful for any person to import, 
        export, transport, sell, receive, acquire, or purchase in 
        interstate or foreign commerce any live animal of any 
        prohibited wildlife species.
            ``(2) Limitation on application.--This subsection--
                    ``(A) does not apply to a person transporting a 
                nonhuman primate to or from a veterinarian who is 
                licensed to practice veterinary medicine within the 
                United States, solely for the purpose of providing 
                veterinary care to the nonhuman primate, if--
                            ``(i) the person transporting the nonhuman 
                        primate carries written documentation issued by 
                        the veterinarian, including the appointment 
                        date and location;
                            ``(ii) the nonhuman primate is transported 
                        in a secure enclosure appropriate for that 
                        species of primate;
                            ``(iii) the nonhuman primate has no contact 
                        with any other animals or members of the 
                        public, other than the veterinarian and other 
                        authorized medical personnel providing 
                        veterinary care; and
                            ``(iv) such transportation and provision of 
                        veterinary care is in accordance with all 
                        otherwise applicable State and local laws, 
                        regulations, permits, and health certificates;
                    ``(B) does not apply to a person transporting a 
                nonhuman primate to a legally designated caregiver for 
                the nonhuman primate as a result of the death of the 
                preceding owner of the nonhuman primate, if--
                            ``(i) the person transporting the nonhuman 
                        primate is carrying legal documentation to 
                        support the need for transporting the nonhuman 
                        primate to the legally designated caregiver;
                            ``(ii) the nonhuman primate is transported 
                        in a secure enclosure appropriate for the 
                        species;
                            ``(iii) the nonhuman primate has no contact 
                        with any other animals or members of the public 
                        while being transported to the legally 
                        designated caregiver; and
                            ``(iv) all applicable State and local 
                        restrictions on such transport, and all 
                        applicable State and local requirements for 
                        permits or health certificates, are complied 
                        with;
                    ``(C) does not apply to a person transporting a 
                nonhuman primate solely for the purpose of assisting an 
                individual who is permanently disabled with a severe 
                mobility impairment, if--
                            ``(i) the nonhuman primate is a single 
                        animal of the genus Cebus;
                            ``(ii) the nonhuman primate was obtained 
                        from, and trained at, a licensed nonprofit 
                        organization described in section 501(c)(3) of 
                        the Internal Revenue Code of 1986 the nonprofit 
                        tax status of which was obtained--
                                    ``(I) before July 18, 2008; and
                                    ``(II) on the basis that the 
                                mission of the organization is to 
                                improve the quality of life of severely 
                                mobility-impaired individuals;
                            ``(iii) the person transporting the 
                        nonhuman primate is a specially trained 
                        employee or agent of a nonprofit organization 
                        described in clause (ii) that is transporting 
                        the nonhuman primate to or from a designated 
                        individual who is permanently disabled with a 
                        severe mobility impairment, or to or from a 
                        licensed foster care home providing specialty 
                        training of the nonhuman primate solely for 
                        purposes of assisting an individual who is 
                        permanently disabled with severe mobility 
                        impairment;
                            ``(iv) the person transporting the nonhuman 
                        primate carries documentation from the 
                        applicable nonprofit organization that includes 
                        the name of the designated individual referred 
                        to in clause (iii);
                            ``(v) the nonhuman primate is transported 
                        in a secure enclosure that is appropriate for 
                        that species;
                            ``(vi) the nonhuman primate has no contact 
                        with any animal or member of the public, other 
                        than the designated individual referred to in 
                        clause (iii); and
                            ``(vii) the transportation of the nonhuman 
                        primate is in compliance with--
                                    ``(I) all applicable State and 
                                local restrictions regarding the 
                                transport; and
                                    ``(II) all applicable State and 
                                local requirements regarding permits or 
                                health certificates; and
                    ``(D) does not apply'';
                    (C) in paragraph (2) (as added by subparagraph 
                (B))--
                            (i) by striking ``a'' before ``prohibited'' 
                        and inserting ``any'';
                            (ii) by striking ``(3)'' and inserting 
                        ``(4)''; and
                            (iii) by striking ``(2)'' and inserting 
                        ``(3)'';
                    (D) in paragraph (3) (as redesignated by 
                subparagraph (A))--
                            (i) in subparagraph (C)--
                                    (I) in clauses (ii) and (iii), by 
                                striking ``animals listed in section 
                                2(g)'' each place it appears and 
                                inserting ``prohibited wildlife 
                                species''; and
                                    (II) in clause (iv), by striking 
                                ``animals'' and inserting ``prohibited 
                                wildlife species''; and
                            (ii) in subparagraph (D), by striking 
                        ``animal'' each place it appears and inserting 
                        ``prohibited wildlife species'';
                    (E) in paragraph (4) (as redesignated by 
                subparagraph (A)), by striking ``(2)'' and inserting 
                ``(3)''; and
                    (F) in paragraph (6) (as redesignated by 
                subparagraph (A))--
                            (i) by striking ``subsection (a)(2)(C)'' 
                        and inserting ``this subsection''; and
                            (ii) by striking ``2004 through 2008'' and 
                        inserting ``2011 through 2015''.
    (b) Civil Penalties.--Section 4(a) of the Lacey Act Amendments of 
1981 (16 U.S.C. 3373(a)) is amended--
            (1) in paragraph (1), by inserting ``(e),'' after 
        ``subsections (b), (d),''; and
            (2) in paragraph (1), by inserting ``, (e),'' after 
        ``subsection (d)''.
    (c) Criminal Penalties.--Section 4(d) of the Lacey Act Amendments 
of 1981 (16 U.S.C. 3373(d)) is amended--
            (1) in paragraphs (1)(A) and (1)(B) and in the first 
        sentence of paragraph (2), by inserting ``(e),'' after 
        ``subsections (b), (d),'' each place it appears; and
            (2) in paragraph (3), by inserting ``, (e),'' after 
        ``subsection (d)''.
    (d) Effective Date; Regulations.--
            (1) Effective date.--Subsections (a) through (c), and the 
        amendments made by those subsections, shall take effect on the 
        earlier of--
                    (A) the date of promulgation of regulations under 
                paragraph (2); and
                    (B) the expiration of the period referred to in 
                paragraph (2).
            (2) Regulations.--Not later than 180 days after the date of 
        enactment of this Act, the Secretary of the Interior shall 
        promulgate regulations implementing the amendments made by this 
        section.

SEC. 4. APPLICABILITY PROVISION AMENDMENT.

    Section 3 of the Captive Wildlife Safety Act (117 Stat. 2871; 
Public Law 108-191) is amended--
            (1) in subsection (a), by striking ``(a) In General.--
        Section 3'' and inserting ``Section 3''; and
            (2) by striking subsection (b).

SEC. 5. REGULATIONS.

    Section 7(a) of the Lacey Act Amendments of 1981 (16 U.S.C. 
3376(a)) is amended by adding at the end the following:
            ``(3) The Secretary shall, in consultation with other 
        relevant Federal and State agencies, promulgate regulations to 
        implement section 3(e).''.

A: Captive Primate Safety Act - Amends the Lacey Act Amendments of 1981 to add nonhuman primates to the definition of "prohibited wildlife species" for purposes of the prohibition against the sale or purchase of such species in interstate or foreign commerce.

Makes it unlawful for a person to import, export, transport, sell, receive, acquire, or purchase a live animal of any prohibited wildlife species in interstate or foreign commerce (i.e., for pet trade purposes). Sets forth exceptions to such prohibition, including, under certain conditions, for: (1) transporting a nonhuman primate to or from a veterinarian, (2) transporting a nonhuman primate to a legally designated caregiver as a result of the death of the preceding owner, and (3) transporting a single primate of the genus Cebus that was obtained from and trained by a charitable organization to assist a permanently disabled individual with a severe mobility impairment.

Sets forth civil and criminal penalties for violations of the requirements of this Act. Extends the authorization of appropriations to carry out such prohibition for FY2011-FY2015.
****
Q: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Terrorism Insurance Backstop 
Extension Act of 2005''.

SEC. 2. EXTENSION OF TERRORISM INSURANCE PROGRAM.

    (a) Program Years 4 and 5.--Paragraph (11) of section 102 of the 
Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended 
by adding at the end the following new subparagraphs:
                    ``(E) Program year 4.--The term `Program Year 4' 
                means the period beginning on January 1, 2006 and 
                ending on December 31, 2006.
                    ``(F) Program year 5.--The term `Program Year 5' 
                means the period beginning on January 1, 2007 and 
                ending on December 31, 2007.''.
    (b) Insurer Deductible.--Paragraph (7) of section 102 of the 
Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended--
            (1) by redesignating subparagraph (E) as subparagraph (H);
            (2) in subparagraph (D), by striking ``and'' at the end;
            (3) by inserting after subparagraph (D) the following new 
        subparagraphs:
                    ``(E) for Program Year 4, the value of an insurer's 
                direct earned premiums over the calendar year 
                immediately preceding Program Year 4, multiplied by 15 
                percent;
                    ``(F) for Program Year 5, the value of an insurer's 
                direct earned premiums over the calendar year 
                immediately preceding Program Year 4, multiplied by 20 
                percent; and'';
            (4) in subparagraph (H) (as so redesignated by paragraph 
        (1) of this subsection)--
                    (A) by striking ``(D)'' and inserting ``(F)''; and
                    (B) by striking ``or Program Year 3'' and inserting 
                ``Program Year 3, Program Year 4, or Program Year 5''.
    (c) Mandatory Availability.--Subsection (c) of section 103 of the 
Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended--
            (1) by striking all of the matter that precedes 
        subparagraph (A) of paragraph (1) and inserting the following:
    ``(c) Mandatory Availability.--During the Program, each entity that 
meets the definition of an insurer under section 102--'';
            (2) by striking paragraph (2); and
            (3) by redesignating subparagraphs (A) and (B) as 
        paragraphs (1) and (2) and realigning such paragraphs, as so 
        redesignated, so as to be indented 2 ems from the left margin.
    (d) Insured Loss Shared Compensation.--Subsection (e) of section 
103 of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) 
is amended--
            (1) in paragraph (2)(A), by striking ``or Program Year 3'' 
        and inserting ``, Program Year 3, Program Year 4, Program Year 
        5, or the final Program Year'';
            (2) in paragraph (3), by striking ``or Program Year 3'' and 
        inserting ``, Program Year 3, Program Year 4, Program Year 5, 
        or the final Program Year'';
            (3) in paragraph (6)--
                    (A) in subparagraph (B), by striking ``and'' at the 
                end;
                    (B) in subparagraph (C) by striking the period at 
                the end and inserting a semicolon; and
                    (C) by adding at the end the following new 
                subparagraphs:
                    ``(D) for Program Year 4, the lesser of--
                            ``(i) $17,500,000,000; and
                            ``(ii) the aggregate amount, for all 
                        insurers, of insured losses during such Program 
                        Year;
                    ``(E) for each of Program Year 5 and the Final 
                Program Year, the lesser of--
                            ``(i) $20,000,000,000; and
                            ``(ii) the aggregate amount, for all 
                        insurers, of insured losses during such Program 
                        Year; and''; and
            (4) in paragraph (7)--
                    (A) in subparagraph (A), by striking ``and (C)'' 
                and inserting ``(C), (D), and (E)''; and
                    (B) in subparagraphs (B) and (C), by striking ``or 
                (C)'' each place such term appears and inserting ``(C), 
                (D), or (E)''.
    (e) Coverage of Group Life Insurance.--
            (1) In general.--Paragraph (5) of section 102 of the 
        Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is 
        amended in the matter that precedes subparagraph (A) by 
        inserting ``or group life'' after ``property and casualty''.
            (2) Technical and conforming amendments.--The Terrorism 
        Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended--
                    (A) in section 102--
                            (i) in paragraph (1)--
                                    (I) in subparagraph (B)(i), by 
                                inserting ``or group life insurance'' 
                                after ``workers' compensation''; and
                                    (II) in subparagraph (B)(ii), by 
                                inserting ``and group life insurance'' 
                                after ``property and casualty 
                                insurance'';
                            (ii) in paragraph (4)--
                                    (I) by inserting ``or for group 
                                life insurance'' after ``property and 
                                casualty insurance''; and
                                    (II) by striking ``paragraph (5)'' 
                                and inserting ``paragraph (6)'';
                            (iii) in paragraph (5), by inserting ``and 
                        group life insurance'' after ``workers' 
                        compensation''; and
                            (iv) in paragraph (6)--
                                    (I) in subparagraph (A)(i), by 
                                inserting ``property and casualty or 
                                group life'' after ``excess'';
                                    (II) in subparagraph (B), by 
                                inserting ``or group life insurance 
                                coverage'' after ``property and 
                                casualty insurance coverage'';
                            (v) by redesignating paragraphs (5) through 
                        (16) as paragraphs (6) through (17), 
                        respectively; and
                            (vi) by inserting after paragraph (4), the 
                        following new paragraph:
            ``(5) Group life insurance.--The term `group life 
        insurance' means an insurance contract that provides term life 
        insurance coverage, accidental death coverage, or a combination 
        thereof, for a number of persons under a single contract, on 
        the basis of a group selection of risks.'';
                    (B) in section 103--
                            (i) in subsection (b)(1), by inserting 
                        ``(including a named beneficiary in the case of 
                        a group life insurance policy)'' before the 
                        second comma;
                            (ii) in subsection (c)--
                                    (I) in paragraph (1) (as so 
                                redesignated by subsection (c)(3) of 
                                this section), by inserting ``and group 
                                life'' after ``property and casualty''; 
                                and
                                    (II) in paragraph (2) (as so 
                                redesignated by subsection (c)(3) of 
                                this section), by inserting ``and group 
                                life'' after ``property and casualty'';
                            (iii) in subsection (e)--
                                    (I) in paragraph (6), by striking 
                                ``For'' and inserting ``Except as 
                                provided in subparagraph (F) of this 
                                paragraph, for'';
                                    (II) in paragraph (6), by inserting 
                                after subparagraph (E) (as added by 
                                subsection (d)(3)(C) of this section) 
                                the following new subparagraph:
                    ``(F) for each of the periods referred to in 
                subparagraphs (A) through (E), the amounts provided 
                under such subparagraphs, as such amounts shall be 
                increased by the Secretary before the expiration of the 
                90-day period beginning on the date of the enactment of 
                the Terrorism Insurance Backstop Extension Act of 2005, 
                based on the increase in the size of the Program caused 
                by the inclusion of group life insurance pursuant to 
                such Act, in proportion to the increased premiums 
                involved.'';
                                    (III) in paragraph (7)(C), by 
                                inserting ``or group life insurance'' 
                                after ``workers compensation'';
                                    (IV) in paragraph (8)(A)(i), by 
                                inserting ``and group life'' after 
                                ``property and casualty''; and
                                    (V) in paragraph (8), by inserting 
                                ``or group life'' after ``property and 
                                casualty'' each place such term appears 
                                in subparagraphs (A)(iii) and (C); and
                            (iv) by striking subsection (h);
                    (C) in section 105(c), by inserting ``or group 
                life'' after ``property and casualty''; and
                    (D) in section 108(d)(1), by inserting ``and the 
                group life insurance industry'' after ``property and 
                casualty insurance industry''.
            (3) Required rulemaking.--Not later than 90 days after the 
        date of the enactment of this Act, the Secretary of the 
        Treasury shall issue final regulations to carry out this 
        subsection.
    (f) Study on Long-Term Solutions.--Section 103 of the Terrorism 
Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended by striking 
subsection (i) and inserting the following new subsection:
    ``(h) Study on Long-Term Solutions.--By September 1, 2005, the 
Secretary shall conduct a study and submit a report to the Congress on 
alternatives for expanding the availability and affordability of 
terrorism insurance after the termination of the Program that do not 
involve a Federal financial backstop.''.
    (g) Termination of Program.--
            (1) Termination.--Subsection (a) of section 108 of the 
        Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is 
        amended by striking ``December 31, 2005'' and inserting 
        ``December 31, 2007''.
            (2) Final gao study and report.--Subsection (d) of section 
        108 of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 
        note) is amended by adding at the end the following new 
        paragraph:
            ``(3) Final gao study and report.--The Comptroller General 
        of the United States shall conduct an assessment of the matters 
        referred to in paragraph (1) and shall submit a report to the 
        Congress, not later than June 30, 2007, on the results of such 
        study.''.

SEC. 3. FINAL PROGRAM YEAR.

    (a) Definition.--Paragraph (11) of section 102 of the Terrorism 
Risk Insurance Act of 2002 (15 U.S.C. 6701 note), as amended by the 
preceding provisions of this Act, is further amended by adding at the 
end the following new subparagraph:
                    ``(G) Final program year.--The term `Final Program 
                Year' means the period beginning on January, 1, 2008 
                and ending on December 31, 2008.''. ''.
    (b) Insured Losses.--Paragraph (5) of section 102 of the Terrorism 
Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended by adding 
after and below subparagraph (B) the following new sentence:
        ``With respect to the Final Program Year, such term means only 
        such losses as are described in the preceding sentence that are 
        covered by primary or excess property and casualty insurance or 
        group life insurance, that is issued before January 1, 2008, 
        and expires not later than December 31, 2008; except that the 
        Secretary may exclude from insured losses for the Final Program 
        Year losses covered by a policy for such insurance if the 
        Secretary determines that the primary purpose in establishing 
        the particular term of the policy was obtaining compensation 
        under the Program for losses covered by the policy.''.
    (c) Insurer Deductible.--Paragraph (7) of section 102 of the 
Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note), as amended 
by the preceding provisions of this Act, is further amended by 
inserting after subparagraph (F) the following new subparagraph:
                    ``(G) for the Final Program Year, the value of an 
                insurer's direct earned premiums for the terms 
                remaining under any policies for insurance described in 
                the last sentence of paragraph (5) as of the occurrence 
                of the act of terrorism during such Year that results 
                in insured losses, as determined by the Secretary, 
                multiplied by 20 percent; and''.

A: Terrorism Insurance Backstop Extension Act of 2005 - Amends the Terrorism Risk Insurance Act of 2002 to define: (1) the term "Program Year 4" as the period from January 1, 2006, through December 31, 2006; and (2) the term "Program Year 5" as the period from January 1, 2007, from December 31, 2007 (thereby extending the terrorism risk insurance program from 2005 through 2007).

Sets a deadline for the Secretary of the Treasury to make a final determination regarding: (1) the availability of group life insurance to both insurers and consumers; and (2) whether certain provisions of the Act shall be applied to providers of group life insurance.

Sunsets the Terrorism Risk Insurance Program after December 31, 2007.

Details the treatment of insured losses and the insurer deductible for the Final Program Year (January 1, 2008, through December 31, 2008).
****
Q: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Steel Industry Preservation Act''.

SEC. 2. EXTENSION AND MODIFICATION OF CREDIT FOR STEEL INDUSTRY FUEL.

    (a) Credit Period.--
            (1) In general.--Subclause (II) of section 45(e)(8)(D)(ii) 
        of the Internal Revenue Code of 1986 is amended to read as 
        follows:
                                    ``(II) Credit period.--In lieu of 
                                the 10-year period referred to in 
                                clauses (i) and (ii)(II) of 
                                subparagraph (A), the credit period 
                                shall be the period beginning on the 
                                first date that the facility first 
                                produces steel industry fuel that is 
                                sold to an unrelated person after the 
                                date of the enactment of the Steel 
                                Industry Preservation Act, and ending 
                                10 years after such first date.''.
            (2) Conforming amendment.--Section 45(e)(8)(D) of such Code 
        is amended by striking clause (iii) and by redesignating clause 
        (iv) as clause (iii).
    (b) Extension of Placed-in-Service Date.--Subparagraph (A) of 
section 45(d)(8) of the Internal Revenue Code of 1986 is amended--
            (1) by striking ``(or any modification to a facility)'';
            (2) by striking ``placed in service before'' and inserting 
        ``placed in service--
                            ``(i) before'';
            (3) by striking ``and'' at the end and inserting ``or''; 
        and
            (4) by adding at the end the following new clause:
                            ``(ii) after the date of the enactment of 
                        this clause and before January 1, 2019, and''.
    (c) Clarifications.--
            (1) Steel industry fuel.--Subclause (I) of section 
        45(c)(7)(C)(i) of the Internal Revenue Code of 1986 is amended 
        by inserting ``, or a blend of coal and petroleum coke, or 
        other coke feedstock'' after ``on coal''.
            (2) Ownership interest.--Section 45(d)(8) of such Code is 
        amended by adding at the end the following new flush sentence:
        ``With respect to a facility producing steel industry fuel, no 
        person (including a ground lessor, customer, supplier, or 
        technology licensor) shall be treated as having an ownership 
        interest in the facility or as otherwise entitled to the credit 
        allowable under this section with respect to such facility if 
        such person's rent, license fee, or other entitlement to net 
        payments from the owner of such facility is measured by a fixed 
        dollar amount or a fixed amount per ton, or otherwise 
        determined without regard to the profit or loss of such 
        facility.''.
            (3) Production and sale.--Subparagraph (D) of section 
        45(e)(8) of such Code, as amended by subsection (a)(2), is 
        amended by redesignating clause (iii) as clause (iv) and by 
        inserting after clause (ii) the following new clause:
                            ``(iii) Production and sale.--The owner of 
                        a facility producing steel industry fuel shall 
                        be treated as producing and selling steel 
                        industry fuel where that owner manufactures 
                        such steel industry fuel from coal, a blend of 
                        coal and petroleum coke, or other coke 
                        feedstock to which it has title. The sale of 
                        such steel industry fuel by the owner of the 
                        facility to a person who is not the owner of 
                        the facility shall not fail to qualify as a 
                        sale to an unrelated person solely because such 
                        purchaser may also be a ground lessor, 
                        supplier, or customer.''.
    (d) Election To Increase Credit in Lieu of Steel Industry Fuel 
Deductions.--Paragraph (8) of section 45(e) is amended by adding at the 
end the following new subparagraph:
                    ``(E) Election for increased credit in lieu of 
                deductions for steel industry fuel.--In the case of a 
                taxpayer who produces steel industry fuel--
                            ``(i) In general.--At the election of the 
                        taxpayer--
                                    ``(I) no deduction shall be allowed 
                                with respect to expenses made in 
                                connection with the production and sale 
                                of steel industry for such taxable year 
                                which are otherwise deductible under 
                                this chapter (determined without regard 
                                to this subparagraph),
                                    ``(II) no expense made in 
                                connection with the production of and 
                                sale of steel industry fuel which is 
                                otherwise chargeable to capital account 
                                in such taxable year shall be so 
                                charged, and
                                    ``(III) the credit determined under 
                                this section (without regard to this 
                                subparagraph) for such taxable year 
                                shall be increased by an amount equal 
                                to the product of the sum of the 
                                amounts to which subclauses (I) and 
                                (II) apply and the maximum rate of tax 
                                applicable under section 1 or 11 
                                (b)(1), as applicable to the taxpayer 
                                in such taxable year.
                            ``(ii) Application to partnerships and s 
                        corporations.--In the case of a partnership or 
                        S corporation, the election shall be made at 
                        the partnership or S corporation level.
                            ``(iii) Election.--An election under this 
                        subparagraph for any taxable year shall be made 
                        not later than the time for filing the return 
                        of tax for such year (including extensions), in 
                        such manner as the Secretary may prescribe. 
                        Such an election, once made, shall be 
                        irrevocable.''.
    (e) Specified Credit for Purposes of Alternative Minimum Tax 
Exclusion.--Subclause (II) of section 38(c)(4)(B)(iv) of the Internal 
Revenue Code of 1986 is amended by inserting ``(in the case of a 
refined coal production facility producing steel industry fuel, during 
the credit period set forth in section 45(e)(8)(D)(ii)(II))'' after 
``service''.
    (f) Application of Certain Rules to Steel Industry Fuel.--
            (1) Activity not engaged in for profit.--Section 183 of the 
        Internal Revenue Code of 1986 is amended by adding at the end 
        the following new subsection:
    ``(f) Exception.--This section shall not apply to any deduction 
with respect to the production of steel industry fuel (as defined in 
section 45(c)(7)(C)).''.
            (2) Application of economic substance doctrine.--
                    (A) In general.--Subsection (o) of section 7701 of 
                the Internal Revenue Code of 1986 is amended by adding 
                at the end the following new paragraph:
            ``(6) Non-application to steel industry fuel.--The economic 
        substance doctrine shall not apply to any transaction to the 
        extent such transaction relates to steel industry fuel (as 
        defined in section 45(c)(7)(C)).''.
                    (B) Conforming amendment.--Paragraph (5)(C) of 
                section 7701(o) of such Code is amended by striking 
                ``The determination'' and inserting ``Except as 
                provided in paragraph (6), the determination''.
    (g) Effective Dates.--
            (1) In general.--Except as provided in paragraph (2), the 
        amendments made by this section shall apply to fuel produced 
        and sold after the date of the enactment of this Act, in 
        taxable years ending after such date.
            (2) Application of economic substance rules.--The 
        amendments made by subsection (f)(2) shall apply to 
        transactions entered into after the date of the enactment of 
        this Act.

A:
Steel Industry Preservation Act  This bill amends the Internal Revenue Code to extend and modify the production tax credit for steel industry fuel.  (Under current law, steel industry fuel is a fuel which is: (1) produced through a process of liquefying coal waste sludge and distributing it on coal, and (2) used as a feedstock for the manufacture of coke.)  The bill modifies the tax credit for steel industry fuel to:    extend the credit period and the placed-in-service date,   revise the definition of &quot;steel industry fuel&quot; to allow blends of coal and petroleum coke or other coke feedstock in the fuel,   set forth ownership requirements, and  specify requirements for treating an owner as producing and selling steel industry fuel.   A taxpayer that produces steel industry fuel may elect to accept an increased tax credit in lieu of certain deductions for expenses in connection with the production of steel industry fuel.  The bill specifies the treatment of the credit for the purpose of the alternative minimum tax. It also exempts transactions related to steel industry fuel from rules that restrict deductions and other tax benefits for activities that are not engaged in for profit or that do not have economic substance. 
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