jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Banking
Subject: Taxation
Date: 2010-11-17 00:00:00

Regulated Investment Company Modernization Act of 2010 - Amends the Internal Revenue Code, with respect to regulated investment companies (RICs), to: (1) allow an unlimited carryforward of the net capital losses of RICs; (2) eliminate restrictions on the investment of RICs in commodities; (3) limit penalties for the failure of RICs to satisfy gross income and asset tests; (4) modify rules for allocating RIC capital gain dividend distributions; (5) include certain nondeductible items of RIC income in earnings and profit calculations; (6) allow RICs that invest exclusively in the shares of other RICs to pass through to their shareholders tax-exempt interest and foreign tax credits, without regard to certain investment limitations; (7) modify rules relating to the declaration of RIC dividends, return of capital distributions, and stock redemptions; (8) allow certain RICs with shares that are redeemable upon demand to treat distributions in redemption of stock as an exchange of fund shares or a dividend for tax purposes; (9) allow a deferral of end-of-year losses of RICs; (10) exempt certain regularly declared exempt-interest dividends of RICs from holding period requirements; (11) increase the annual amount of capital gain net income of RICs required to be distributed; and (12) modify excise tax and penalty rules applicable to RICs.
Topic: Domestic Commerce — Banking
Subject: Commerce
Date: 2010-12-14 00:00:00

Amends the Small Business Act to require an offeror with respect to a contract let by a federal agency that is to be awarded pursuant to the negotiated method of procurement that intends to identify a small business as a potential subcontractor: (1) notify the small business that the offeror intends to identify it as a potential subcontractor; and (2) include with the offer a written acknowledgment by the small business that it has received such notice. Provides penalties against offerors failing to provide such notification. Directs the Administrator of the Small Business Administration (SBA) to establish a reporting mechanism that allows subcontractors to report fraudulent activity by a contractor with respect to a federal small business subcontracting plan.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2010-12-16 00:00:00

Amends the Federal Credit Union Act regarding repayment to the Treasury of advances to the Temporary Corporate Credit Union Stabilization Fund (Stabilization Fund) for payments connected to the conservatorship, liquidation, or threatened conservatorship or liquidation, of a corporate credit union. Revises requirements for assessments on federally insured credit unions by the National Credit Union Administration Board to ensure that the Stabilization Fund will have sufficient funds to make scheduled repayments to the Treasury. Authorizes the Board to assess a special premium on each insured credit union in an aggregate amount reasonably calculated to make any pending or future expenditure from the Stabilization Fund. Makes the premium due and payable by 60 days after the assessment date. Requires the Board, in setting the amount of any such assessment, to take into consideration any potential impact on credit union earnings that such an assessment may have. Requires calculation of the equity ratio of the National Credit Union Share Insurance Fund (Insurance Fund), for timing and assessment of premium charges, to use the financial statements of the Insurance Fund alone, without any consolidation or combination with the financial statements of any other fund or entity. Revises the definition of net worth with respect to any insured credit union to include, at Board discretion, and subject to Board rules and regulations, special assistance to an insured credit union to avoid liquidation that is provided to facilitate a least-cost resolution consistent with the best interests of the credit union system. Directs the Comptroller General to study and report to Congress and the Financial Stability Oversight Council on the supervision of corporate credit unions and implementation of prompt corrective action by the National Credit Union Administration (NCUA). Requires the Council to report to Congress within six months after receiving the Comptroller General's report on any actions taken in response to it, including any recommendations issued to NCUA under the Dodd-Frank Wall Street Reform and Consumer Protection Act to apply new or heightened standards and safeguards to insured credit unions for financial stability purposes.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2010-12-17 00:00:00

Prepaid Card Consumer Protection Act of 2010 - Amends the Electronic Fund Transfer Act to extend its coverage to spending card accounts (prepaid cards) established by a consumer (or on a consumer's behalf): (1) to which recurring electronic fund transfers may be made, at the consumer's direction, and (2) from which payments may be made, at the consumer's direction, through the use of a card, code, or device. Treats as a spending card account any similar asset account operated or managed by a financial institution, or any other person, whose funds: (1) are pooled with the funds of a person other than the one who established the account, or (2) are held in a name other than that of the person who established the account. Excludes from the meaning of spending card account: (1) any nonreloadable general-use prepaid card in an amount under $250; and (2) any general-use prepaid card solely associated with a certain kind of health plan, a qualified transportation fringe, a health savings account or any other healthcare benefit account, a gift certificate, a store gift card, an electronic promise, plastic card, or payment code, or device, a nonreloadable card labeled as a gift card and marketed solely as such, or a nonreloadable loyalty, rebate, or promotional card. Requires a financial institution to offer electronic fund transfer services in connection with a spending card account only if the account is insured under the Federal Deposit Insurance Act and complies with its pass-through deposit insurance requirements. Requires any person that accepts funds in connection with an electronic fund transfer to a spending card account to: (1) transfer them, within 24 hours after accepting them, to an account at an insured depository institution; or (2) credit the spending card account an amount equal to the amount of such funds. Waives the requirement for providing a consumer with a periodic statement if a financial institution, among other things, provides the consumer with access to the account balance through a readily available telephone line and the Internet and at an electronic terminal or other device (ATM machine) that allows the consumer to make a balance inquiry. Prohibits the charging of fees for services required to meet these requirements, other than $1 for an optional periodic statement. Specifies other fees which may and may not be charged in connection with a spending account card.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2010-12-22 00:00:00

Amends the Federal Deposit Insurance Act, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to treat as a noninterest-bearing transaction account fully insurable by the Federal Deposit Insurance Corporation (FDIC) any Interest on Lawyers Trust Account (or functionally equivalent account) established by an attorney or law firm on behalf of a client.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-01-05 00:00:00

Repeals the Dodd-Frank Wall Street Reform and Consumer Protection Act. Revives or restores the provisions of law amended by such Act as if it had not been enacted.
Topic: Domestic Commerce — Banking
Subject: Government operations and politics
Date: 2011-01-05 00:00:00

Photo Identification Security Act - Restricts the forms of individual identification that may be accepted by the federal government or by financial institutions to the following: (1) a Social Security card accompanied by a photo identification card issued by the federal or a state government; (2) a driver's license or identification card issued by a state that is in compliance with the REAL ID Act of 2005; (3) a passport issued by the United States or a foreign government; and (4) a photo identification card issued by the Secretary of Homeland Security (acting through the Director of the United States Citizenship and Immigration Services).
Topic: Domestic Commerce — Banking
Subject: Economics and public finance
Date: 2011-01-05 00:00:00

Repeals all but specified provisions (among them the temporary increase to $250,000 in deposit and share insurance coverage) of title I (Troubled Asset Relief Program) (TARP) of the Emergency Economic Stabilization Act of 2008. Restores or revives the provisions of law amended or repealed by such title as if it had not been enacted. Directs the Secretary of the Treasury to: (1) maintain oversight of all outstanding funds received by an entity under TARP until they are repaid; and (2) dispose of all assets received by the Treasury under TARP in a manner so as to maximize the overall return from them. Declares that Congress finds that the federal government should not: (1) provide TARP-like programs or other bailouts for entities in the private sector; or (2) act as a creditor of last resort to the private sector. Prohibits Congress from making any law providing a bailout for one or more entities in the private sector.
Topic: Domestic Commerce — Banking
Subject: Economics and public finance
Date: 2011-01-19 00:00:00

Fiscal Responsibility Effective Enforcement Act of 2011 or FREE Act of 2011 - Amends the Federal Reserve Act to repeal the authority of a federal reserve bank to buy or sell bills, notes, revenue bonds, or warrants with a maturity date of six months issued by state or local governments, including municipalities and irrigation, drainage, and reclamation districts.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-02-11 00:00:00

Financial Information Privacy Act of 2011 - Amends the Gramm-Leach-Bliley Act to require a financial institution, as a prerequisite to providing disclosures of a consumer's personal information to nonaffiliated third parties, to obtain the consumer's consent on an express consent form. Prohibits a financial institution, except in certain circumstances, from discriminating against a consumer or denying an otherwise qualified consumer a financial product or service, or from offering a financial product or service on less favorable terms and conditions, because the consumer has not provided the express consent. Prescribes the obligations of a financial institution regarding disclosure of a consumer's personal information to affiliates. Directs the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection to develop a model disclosure form, meeting specified requirements, for financial institutions to use when seeking a consumer's consent to disclose nonpublic personal information.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-02-11 00:00:00

Repaying the American Taxpayer Act of 2011 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to require payment into the Treasury for reduction of the public debt of dividends on any share of preferred stock in a financial institution obtained and held by the Secretary of the Treasury in conjunction with financial assistance provided to the institution under EESA. Requires the statutory limitation on the public debt to be reduced by the aggregate amount of such revenues and proceeds paid into the Treasury. Directs the Special Inspector General to report to certain congressional committees on the disposition of such dividend payments.
Topic: Domestic Commerce — Banking
Subject: Commerce
Date: 2011-02-16 00:00:00

Women's Business Ownership Act of 2011 - Establishes the Commission on Women's Business Ownership to review and make recommendations concerning: (1) the status of women business owners across the United States, and their progress made since the 1980 White House Conference on Small Business; (2) the role of the federal government in aiding and promoting women business owners; and (3) data collection procedures with respect to women-owned businesses, including federal initiatives and procurement.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-03-14 00:00:00

Burdensome Data Collection Relief Act - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the requirement that the Securities and Exchange Commission (SEC) amend certain federal regulations regarding executive compensation to require each issuer of securities to disclose in any filing: (1) the median of the annual total compensation of all the issuer's employees, except the chief executive officer; (2) the annual total compensation of the chief executive officer; and (3) the ratio of the first amount to the second.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-03-15 00:00:00

Consumers Payment System Protection Act - Delays until one year after enactment of this Act any proposed or final rule issued under the authority of specified requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act governing interchange transaction (swipe) fees for electronic debit transactions (EDTs). Requires the Board of Governors of the Federal Reserve System and specified federal banking agencies jointly to study and report to Congress on the effect of such requirements upon consumers, card issuers, merchants, and financial institutions. Sets a deadline for the Board to make revisions to any proposed or final rule regarding such EDTs if at least two of the agencies contributing to such report determine that any one of the following is true: (1) either such requirements or the Board's proposed rule entitled "Debit Card Interchange Fees and Routing" does not encompass all costs and investments associated with debit card transactions; (2) consumers will be adversely affected by either the requirements or the proposed rule; or (3) the current exemption of small financial institutions (with less than $10 billion in assets) from such requirements, or as carried out by the proposed rule, is not effective in practice.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-03-15 00:00:00

Freedom to Bank Act - Terminates any provision of federal law (other than the Internal Revenue Code) that subjects a consumer to a penalty for withdrawing or transferring funds from any transaction account or any savings or time deposit. Declares that no creditor, depository institution, or credit union shall be required to provide periodic statements of account to a customer unless the customer has notified it of an election to receive such statements. Requires such entities to establish a procedure for notifying customers of their right to elect to receive statements of account and the method for implementing such election.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-03-16 00:00:00

National Association of Registered Agents and Brokers Reform Act of 2011 - Amends the Gramm-Leach-Bliley Act to repeal the contingent conditions under which the National Association of Registered Agents and Brokers (NARAB) shall not be established. Reestablishes the NARAB without contingent conditions as a nonprofit corporation to prescribe, on a multi-state basis, licensing and insurance producer qualification requirements and conditions. Retains states' regulatory authority over: (1) licensing, supervision, disciplining, and setting of licensing fees for insurance producers; and (2) insurance-related consumer protection and unfair trade practices. Prohibits NARAB from establishing criteria that unfairly limit the ability of a small insurance producer to become a member of NARAB. Authorizes NARAB to: (1) establish membership criteria, including a mandatory criminal background check for state-licensed insurance producers, and (2) deny membership to a state-licensed insurance producer on the basis of the criminal history information obtained. Authorizes the NARAB to deny membership to any state-licensed insurance producer for failure to meet membership criteria. States that NARAB membership authorizes an insurance producer to engage in the business of insurance in any state for any lines of insurance specified in the producer's home state license, including claims adjustments and settlement, risk management, and specified insurance-related consulting activities. Retains state regulatory jurisdiction regarding consumer protection and market conduct. Requires NARAB to: (1) receive and investigate consumer complaints, maintaining a toll-free telephone number; and (2) refer any such complaint to the state insurance regulator. Authorizes the NARAB to coordinate with state insurance regulators to establish: (1) a central clearinghouse, and (2) a national database for the collection of regulatory information concerning the activities of insurance producers.
Topic: Domestic Commerce — Banking
Subject: Taxation
Date: 2011-03-17 00:00:00

Kids IRA Act of 2011 or the K-IRA Act - Amends the Internal Revenue Code to establish a tax-exempt individual retirement account for taxpayers under age 26, to be known as a young savers account. Treats such accounts as Roth individual retirement accounts for income tax purposes. Allows an income-based tax deduction for contributions to such accounts, up to $5,000 in any taxable year.
Topic: Domestic Commerce — Banking
Subject: Housing and community development
Date: 2011-03-17 00:00:00

GSE Bailout Elimination and Taxpayer Protection Act - Sets a deadline for the Director of the Federal Housing Finance Agency (FHFA) to terminate the conservatorship of either the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) if the Director determines that it is financially viable. (Refers to both Fannie Mae and Freddie Mac as enterprises [government-sponsored enterprises, or GSEs].) Requires the Director to appoint the FHFA immediately as receiver of either enterprise if it is found not to be financially viable. Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (FHEFSSA) to repeal: (1) its housing goals, and (2) the housing trust fund. Amends the Housing and Community Development Act of 1992 to restrict the authority of an enterprise to acquire mortgage assets following its emergence from conservatorship. Repeals certain temporary, general, and permanent high-cost area increases to conforming loan limits. Establishes new conforming loan limits. Amends FHEFSSA to require the Director to require each enterprise to charge a guarantee fee, in connection with any mortrgage guaranteed after a specified three-year period, in an amount equivalent to that which the enterprise would charge if it were held to the same capital standards as private banks or financial institutions. Amends the Federal National Mortgage Association Charter Act (FNMACA) and the Federal Home Loan Mortgage Corporation Act (FHLMCA) to prohibit reduction in the rate of dividends paid on each enterprise's Variable Liquidation Preference Senior Preferred Stock. Amends FHEFSSA to require the Director to establish minimum levels of capital for the enterprises, including levels in excess of such minimums as necessary or appropriate in light of an enterprise's particular circumstances. Authorizes the Director to deem failure of an enterprise to maintain revised minimum capital levels to constitute an unsafe and unsound condition. Amends FNMACA and FHLMCA to: (1) prohibit the enterprises from purchasing mortgages if the mortgagor has paid less than the specified minimum downpayment; and (2) require the enterprises to pay state and local taxes. Repeals the exemption of mortgage-backed securities and subordinate obligations of Fannie Mae, as well as mortgage-backed securities of Freddie Mac, from regulation by the Securities and Exchange Commission (SEC), thus subjecting such securities and obligations to SEC regulation. Prescribes a deadline and procedures for the wind down of operations and dissolution of an enterprise three years after enactment of this Act.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-04-04 00:00:00

Capital Access for Main Street Act of 2011 - Authorizes an insured depository institution with assets of less than $10 billion, for purposes of capital calculation under the Financial Institutions Examination Council's Consolidated Reports of Condition and Income, to choose to amortize any loss or write-down, on a quarterly straight-line basis over a seven-year period, which it has incurred with respect to: (1) a loan secured by commercial real estate, or (2) other real estate owned.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-04-07 00:00:00

Small Business Lending Enhancement Act of 2011 - Amends the Federal Credit Union Act to prohibit an insured credit union from making any member business loan that would result in the total amount of such loans outstanding at that credit union at any one time exceeding either: (1) 1.75 times the actual net worth of the credit union, or (2) 12.25% of the total assets of the credit union. Authorizes the National Credit Union Administration Board to approve an application by an insured credit union to make one or more member business loans that would result in a total amount of such loans outstanding at any one time of up to 27.5 % of the total assets of the credit union, if the credit union meets specified safety and soundness criteria. Prohibits an insured credit union that has made such a member business loan but that is not well capitalized from making any new member business loans until it becomes well capitalized and obtains Board approval. Directs the Board to develop a tiered approval process, including lending standards, under which an insured credit union gradually increases the amount of member business lending in a manner that is consistent with safe and sound operations. Directs the Comptroller General to study the status of member business lending by insured credit unions.
Topic: Domestic Commerce — Banking
Subject: Taxation
Date: 2011-04-12 00:00:00

S Corporation Modernization Act of 2011 - Amends the Internal Revenue Code to revise the tax treatment of S corporations by: (1) permanently reducing from 10 to 5 years the period during which S corporation built-in gains are subject to tax; (2) repealing mandatory termination of S corporation elections for excessive passive investment income; (3) allowing S corporations to increase passive investment income from 25 to 60% without incurring additional tax; (4) allowing nonresident aliens to be potential current beneficiaries of an electing small business trust (ESBT); (5) allowing individual retirement accounts (IRAs) to be S corporation shareholders; (6) allowing ESBTs to claim expanded charitable tax deductions; and (7) making permanent the rule requiring a basis adjustment to stock of an S corporation making charitable contributions of property.