jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Banking
Subject: Taxation
Date: 2008-07-11 00:00:00

Amends the Internal Revenue Code to allow a state-chartered banking entity to elect to be treated as a partnership or separate entity for tax purposes if it is organized as a limited liability company under state law and has Federal Deposit Insurance Corporation (FDIC) insurance. Exempts such an entity from treatment as a bank under the Internal Revenue Code for purposes of its bad debts, losses, gains from the sale of its securities, and the taxation of its common trust funds.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2008-07-11 00:00:00

Over-the-Counter Speculation Act - Amends the Commodity Exchange Act to authorize the Commodity Futures Trading Commission (CFTC), in the case of a major market disturbance, to require any trader required to report under this Act to take action to maintain or restore orderly trading in any contract listed for trading on a registered entity, including: (1) liquidation of any over-the-counter transaction; and (2) fixing of any limit that may apply to a market position involving any over-the-counter transaction acquired in good faith before the date of the CFTC's determination of a major market disturbance.Defines "major market disturbance" and "over-the-counter transaction."Sets forth reporting and recordkeeping requirements.
Topic: Domestic Commerce — Banking
Subject: Taxation
Date: 2008-07-17 00:00:00

Amends the Internal Revenue Code to: (1) prohibit tax-exempt employer pension or benefit plans from making a loan to any plan beneficiary through the use of a credit card or other intermediary; and (2) limit to three the number of loans a plan can make to a plan participant or beneficiary without tax consequences.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2008-07-31 00:00:00

Saver's Bonus Act of 2007 [sic] - Directs the Secretary of the Treasury to develop programs to: (1) match deposits made by low-income individuals into certain savings accounts (saver's bonus); (2) deposit tax refunds electronically into savings accounts; and (3) allow individual taxpayers to purchase U.S. savings bonds on their federal income tax returns. Requires the Commissioner of the Internal Revenue Service (IRS) to notify low-income taxpayers of their eligibility for the saver's bonus and of their options under this Act.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2008-09-17 00:00:00

Amends the Federal Reserve Act to repeal the authority of the Board of Governors of the Federal Reserve System, in unusual and exigent circumstances, to discount federal reserve bank-indorsed or -secured notes, drafts, and bills of exchange for private individuals, partnerships, or corporations unable to secure adequate credit accommodations from other banking institutions.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2008-09-18 00:00:00

Federal Board of Certification Act of 2008 - Establishes a Federal Board of Certification to certify that the mortgages within a security instrument meet the underlying standards they claim to meet with regards to such mortgage characteristics as: (1) documentation; (2) loan to value ratios; (3) debt service to income ratios; and (4) borrower credit standards and geographic concentration. States that the purpose of this certification process is to increase the transparency, predictability, and reliability of securitized mortgage products.Authorizes market participants, including firms that package mortgage loans into mortgage securities, to elect to have their mortgage securities evaluated by the Board.Authorizes the Board to: (1) promulgate regulations establishing enumerated security standards to use in certifying mortgage securities; (2) establish uniform principles and standards and report forms for the regular examination of such securities; and (3) develop uniform reporting systems for ascertaining mortgage security risk.Grants the Board access to all books, accounts, records, reports, files, memorandums, papers, things, and property belonging to or in use by federal financial institutions regulatory agencies.Requires any publication, transmission, or webpage containing an advertisement for or invitation to buy a mortgage security to carry a disclaimer that certification by the Federal Board of Certification can in no way be considered a guarantee of the mortgage security, but is merely a judgment of the degree of risk offered by the security in question.
Topic: Domestic Commerce — Banking
Subject: Commerce
Date: 2008-10-01 00:00:00

Prohibits a state from imposing any tax on electronic commerce (i.e., transactions conducted over the Internet or through Internet access) of any person unless that person has a physical presence in the state during the period to which such tax applies or is incorporated or domiciled in such state. Sets forth criteria for determining physical presence, including: (1) being physically in a state or assigning one or more employees to a state; (2) using the services of an agent to establish or maintain the electronic commerce in the state; or (3) leasing or owning tangible personal or real property in the state. Exempts from the definition of "physical presence" entering into an agreement to share revenue generated by the electronic commerce of another person, presence in the state for less than 15 days in a taxable year, and presence in a state to conduct limited or transient business activity.
Topic: Domestic Commerce — Banking
Subject: Crime and law enforcement
Date: 2008-10-01 00:00:00

Financial Crimes Accountability Act of 2008 - Directs the Attorney General to establish within the Department of Justice (DOJ) a Special Joint Task Force on Financial Crimes to: (1) provide direction for the investigation and prosecution of financial crimes (i.e., fraud, misrepresentation, or malfeasance involving financial products); and (2) make recommendations to the Attorney General and the President on allocating resources and coordinating governmental efforts to investigate and prosecute financial crimes.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2008-11-19 00:00:00

Financial Regulation Reform Act of 2008 - Amends the Commodity Exchange Act to: (1) subject credit-default swap trading clearinghouses to regulation by the Commodity Futures Trading Commission (CFTC); and (2) direct the CFTC to set reporting and recordkeeping requirements for positions involving credit-default swaps. Grants the Federal Reserve Board authority over investment-bank holding companies. Directs the Securities and Exchange Commission (SEC) to issue final rules to: (1) designate clearinghouses for credit-default swaps; and (2) prohibit fraudulent, deceptive, or manipulative acts or practices in connection with such swaps. Establishes a temporary Commission on Financial Regulatory Reform to review the financial regulatory structure and propose a comprehensive framework for fundamental reform of financial regulation in the United States.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2008-11-19 00:00:00

Stop the Greed on Wall Street Act - Amends the Emergency Economic Stabilization Act of 2008 to limit the amount of aggregate annual compensation for employees and executives of financial institutions assisted under the Troubled Asset Relief Program (TARP) to the salary of the President of the United States.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2008-11-19 00:00:00

Amends the Emergency Economic Stabilization Act to revise the process for exercising the authority of the Secretary of the Treasury to make purchases of troubled assets in any amount in excess of the $350 billion previously obligated. Changes the Joint Resolution of Disapproval, regarding the exercise of such authority, to a Joint Resolution of Approval. Prohibits the Secretary, that is, from exercising any authority to make any such purchases unless within 15 calendar days after Congress receives a report of the Secretary's plan to exercise the authority, a joint resolution approving the plan is enacted into law.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2009-01-06 00:00:00

Financial Oversight Commission Act of 2009 - Establishes the Financial Oversight Commission to investigate the financial crisis of 2008, including relevant legislation, Executive Order, regulation, plan, policy, practice, or procedure that pertains to: (1) government sponsored enterprises; (2) the stock market; (3) the housing market; (4) credit rating agencies; (5) the financial services sector, including hedge funds, private equity and the insurance industry; and (6) the role of congressional oversight and resource allocation. Directs the Commission to identify, review, and evaluate the lessons learned from the crisis in connection with the structure, coordination, management policies, and procedures of governmental and nongovernmental entities regarding crisis detection, prevention, and response.Requires the Commission to report to the President and Congress its findings, conclusions, and recommendations.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2009-01-06 00:00:00

Community Choice in Real Estate Act - Amends the Bank Holding Company Act of 1956 and the Revised Statutes of the United States to prohibit the Board of Governors of the Federal Reserve System and the Secretary of the Treasury, respectively, from determining that real estate brokerage activity or real estate management activity is financial in nature, is incidental to any financial activity, or is complementary to a financial activity. (In effect, prohibits financial holding companies and national banks from engaging, directly or indirectly, in real estate brokerage or real estate management activities.) Exempts from such prohibition: (1) activities of a bank holding company (or any affiliate) that directly relate to managing any real property owned by national banks or their affiliates; and (2) the right, power, or ability of any financial holding company to engage in any activity, or acquire or retain the shares of any company engaged in an activity authorized for financial holding companies on December 6, 2001 ("grandfather clause").
Topic: Domestic Commerce — Banking
Subject: Crime and law enforcement
Date: 2009-01-06 00:00:00

Credit Agencies Identity Theft Responsibilities Act of 2009 - Amends the Fair Credit Reporting Act to require a consumer reporting agency which has reason to suspect identity theft to: (1) report such suspicion to the U.S. Secret Service; and (2) inform the Attorney General for criminal prosecution. Requires the Secret Service to forward such information to either the Federal Bureau of Investigation (FBI) or the Department of Homeland Security (DHS), respectively, if it has reason to believe that a suspected case of identity theft involves any suspicion of terrorism or immigration violations. Cites factors for suspicion of identity theft. Requires a consumer reporting agency to review, at regular intervals, all information on consumers it maintains or controls in order to determine whether there is any basis for suspicion of identity theft. Sets forth criminal penalties for agency failure to comply with this Act.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2009-01-09 00:00:00

TARP Accountability Act of 2009 - Amends the Federal Deposit Insurance Act (FDIA) to require inclusion within each report of condition filed by an insured depository institution which received assistance under the Troubled Asset Relief Program (TARP) the amount of any increase in new lending during the period covered by the report (or the amount of any reduction in any decrease in new lending) that is attributable to TARP assistance. Requires, in the alternative, that if the institution cannot accurately quantify the effect such assistance has had on new lending, then it report the total amount of the increase in new lending, if any, during the covered period.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2009-01-09 00:00:00

Troubled Assets Relief Program Targeted Assets Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to authorize the Secretary of the Treasury to establish the Troubled Asset Restoration and Assistance Program (TARAP) to allow the Treasury to purchase lender or servicer losses on rehabilitated mortgages, on terms and conditions determined by the Secretary. Directs the Treasury, acting through TARAP, to pay up to 80% of the difference between the original asset and the rehabilitated asset to the lender or servicer under certain conditions.Permits the portion of the difference between the original asset and the rehabilitated asset to the lender or servicer that is not paid for by the Secretary to be written to loss. Requires any regulations and other guidance the Secretary may issue to determine qualifications for an independent appraiser, and make final determinations as to: (1) whether an asset is troubled; (2) what the values are that will determine the amount of purchase; (3) the amount of reductions in the purchase price for certain otherwise ineligible assets; and (4) any other functionality issues required to operate the program. Authorizes the Secretary, conforming to specified guidelines, to make all necessary rules and determinations regarding documented best efforts, required timelines, and other processes and procedures. Identifies criteria for eligible assets and eligible lenders or servicers. Sunsets TARAP on December 31, 2009.Prohibits, for a 90-day period, a mortgage servicer, or holder, from taking action to initiate a foreclosure, or any action in connection with a foreclosure already instituted (other than to suspend it), with respect to any eligible mortgage of a consumer. Entitles a consumer to defer initiation of a foreclosure, or any action in connection with one already instituted by any creditor, servicer, or holder of a mortgage, until the end of the 90-day period beginning on the date of the enactment of this Act.
Topic: Domestic Commerce — Banking
Subject: Foreign trade and international finance
Date: 2009-01-13 00:00:00

Supporting America's Manufacturers Act - Amends the Trade Act of 1974 to require a recommendation from the International Trade Commission (ITC) before the President can impose increased duties or other import restrictions on an imported Chinese product that causes or threatens market disruption to a like U.S. product. Revises the authority of the President and the U.S. Trade Representative (USTR) to consider an equally divided ITC vote regarding a determination on the question of whether an imported Chinese product causes or threatens market disruption in the United States. Repeals the authority of the President and the USTR to consider the determination of either group of equally divided Commissioners to be the ITC's determination. Requires such a deadlocked vote to be considered an affirmative ITC determination. Provides that if the Commissioners voting are equally divided with respect to its determination, then the determination agreed upon by either group of Commissioners may be considered by the President and the Trade Representative as the determination of the Commission. Requires the USTR to make available promptly to the public reports recommending the President to take action, if any, to remedy market disruption. Revises requirements involving ITC determinations of critical circumstances and requests for provisional relief with respect to a Chinese product that causes or threatens market disruption to a like U.S. Product Requires the President to provide import relief from Chinese products that cause or threaten market disruption to a like U.S. product within a specified time if an agreement is not reached with the People's Republic of China (PRC) or if the President determines that an agreement reached with the PRC is not remedying the market disruption. Authorizes the President to provide import relief (including provisional relief in critical circumstances) that differs from that recommended by the ITC, or to deny such import relief only: (1) in extraordinary cases; and (2) if the President determines that providing such relief would cause serious harm to U.S. economic interests or to U.S. national security. Requires the President's decision on import relief to be reported to specified congressional committees. Requires import relief recommended by the ITC to take effect upon enactment of a congressional joint resolution in the event that the President: (1) takes action that differs from that recommended by the ITC; or (2) declines to provide import relief (including that recommended by the ITC) because it would cause serious harm to U.S. economic interests or to U.S. national security.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2009-01-27 00:00:00

Amends the Federal Deposit Insurance Act and the Emergency Economic Stabilization Act of 2008 (EESA) to make permanent the increase in the standard maximum deposit insurance amount from $100,000 to $250,000. Extends from five years to eight years after implementation of a Deposit Insurance Fund (DIF) restoration plan the deadline by which the DIF reserve ratio must meet or exceed the required minimum of 1.15% of estimated insured deposits. Increases the borrowing authority of the Federal Deposit Insurance Corporation (FDIC) from a maximum $30 billion to $100 billion. Extends to depository institution holding companies liability for special assessments to recover loss to the DIF arising from certain actions taken or assistance provided to avoid serious adverse effects on economic conditions or financial stability. Amends the National Housing Act to revise certain requirements for the HOPE for Homeowners Program. Repeals the requirement that the current borrower have, or is likely to have, a mortgage debt-to-income ratio greater than 31% (or any higher amount the Federal Home Loan Bank Board determines appropriate). Increases from 90% to 93% of a property's appraised value the cap on the principal obligation amount of a refinanced eligible insured mortgage. Repeals the prohibitions on: (1) second liens; and (2) payment of insurance benefits to a mortgagee in any case in which a mortgagor fails to make the first payment on a refinanced eligible mortgage. Reduces the annual premium for a refinanced eligible insured mortgage, and allows its further reduction or termination during the mortgage term. Repeals the entitlement of the Secretary of Housing and Urban Development and the mortgagor of an eligible insured mortgage, upon any sale or disposition of the subject property, to 50% of any appreciation in the property's appraised value since the date that the mortgage was insured. Authorizes the Federal Home Loan Bank Board to establish a payment to the servicer of the existing senior mortgage for every loan insured under the HOPE for Homeowners Program. Prescribes requirements (safe harbor) that will render a mortgage servicer not liable for entering into a loan modification or workout plan with respect to any mortgage on which: (1) default has occurred or is reasonably foreseeable; (2) the property securing it is occupied by the mortgagor; and (3) the servicer reasonably and in good faith believes that the anticipated recovery on the mortgage's principal outstanding obligation under a particular mortgage modification, workout plan, or other loss mitigation action will exceed, on a net present value basis, the anticipated recovery on the principal outstanding obligation to be realized through foreclosure. Requires the Secretary of the Treasury to take prompt action to provide EESA Troubled Asset Relief Program (TARP) assistance to smaller community financial institutions, including privately held institutions.
Topic: Domestic Commerce — Banking
Subject: Taxation
Date: 2009-02-03 00:00:00

Amends the Internal Revenue Code to: (1) extend the tax credit for first-time homebuyers through 2009; (2) expand such credit to include all purchasers of a principal residence; (3) waive the repayment requirement for a residence purchased after 2008 unless such residence is sold or vacated within 36 months of purchase; and (4) require a minimum 5% downpayment on home purchases to qualify for such credit.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2009-02-03 00:00:00

Federal Reserve Board Abolition Act - Abolishes the Board of Governors of the Federal Reserve System and each federal reserve bank.Repeals the Federal Reserve Act.
Topic: Domestic Commerce — Banking
Subject: Economics and public finance
Date: 2009-02-04 00:00:00

Re-Build America Bond Act of 2009 - Establishes the Re-Build America Trust Fund. Directs the Secretary of the Treasury to issue Re-Build America Bonds. Makes appropriations to the Trust Fund of amounts equivalent to all revenues derived from proceeds from the sale and issuance of such bonds, in order to make expenditures for rail, transit, water, highway, bridge, or road infrastructure projects.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2009-02-26 00:00:00

Federal Reserve Transparency Act of 2009 - Repeals the authority of the Comptroller General to carry out an onsite examination of an open insured bank or bank holding company only if the appropriate federal regulatory agency has consented in writing. (Retains the authority of the Comptroller General to audit a federal agency.) Directs the Comptroller General to complete, before the end of 2010, an audit of the Board of Governors of the Federal Reserve System and of the federal reserve banks, followed by a detailed report to Congress.
Topic: Domestic Commerce — Banking
Subject: Taxation
Date: 2009-02-26 00:00:00

Savings for Working Families Act of 2009 - Allows certain low-income individuals between age 18 and 61 to establish tax-exempt individual development accounts (IDAs) to pay for certain qualified expenses, including education expenses, first-time homebuyer costs, and business capitalization or expansion costs. Sets forth rules for the establishment, maintenance, and termination of IDAs. Permits tax-free withdrawals from IDAs for qualified expenses, but requires IDA beneficiaries to complete one or more financial education courses prior to making an IDA withdrawal.Allows certain financial institutions, tax-exempt organizations, and Indian tribes to sponsor and administer IDAs. Amends the Internal Revenue Code to allow such entities a business-related tax credit for the cost of administering IDAs and for making matching contributions to IDAs in parallel accounts. Provides that IDA amounts shall be disregarded for purposes of determining eligibility for assistance under certain means-tested federal programs.
Topic: Domestic Commerce — Banking
Subject: Taxation
Date: 2009-03-04 00:00:00

Amends Internal Revenue Code provisions allowing nonrecognition of gain from like-kind exchanges to suspend the 180-day period for completing such exchanges in cases involving exchange facilitators who have filed a bankruptcy petition.