109 HR 4015 IH: Milk Regulatory Equity Act of 2005
U.S. House of Representatives
2005-10-07
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I
109th CONGRESS 1st Session
H. R. 4015
IN THE HOUSE OF REPRESENTATIVES

October 7, 2005
Mr. Nunes (for himself, Mr. Doolittle, Mr. Pombo, Mr. Boehner, Mr. Renzi, Mr. Porter, Mr. Franks of Arizona, Mr. Herger, Mr. Gibbons, Mr. Hayworth, Mr. Thomas, Mr. Baca, Mr. Cardoza, Mr. Costa, Mr. Daniel E. Lungren of California, Mr. Filner, Mr. Farr, Ms. Woolsey, Ms. Zoe Lofgren of California, Ms. Harman, Mrs. Napolitano, Mr. Duncan, Mr. Holden, Mr. Sessions, Mr. Thompson of California, Ms. Berkley, Mr. Pastor, and Ms. Matsui) introduced the following bill; which was referred to the Committee on Agriculture

A BILL
To ensure regulatory equity between and among all dairy farmers and handlers for sales of packaged fluid milk in federally regulated milk marketing areas and into certain non-federally regulated milk marketing areas from federally regulated areas, and for other purposes.

1.Short titleThis Act may be cited as the Milk Regulatory Equity Act of 2005.
2.Milk regulatory equity
(a)Minimum milk prices for handlers; exemptionSection 8c(5) of the Agricultural Adjustment Act (7 U.S.C. 608c(5)), reenacted with amendments by the Agricultural Marketing Agreement Act of 1937, is amended by adding at the end the following new subparagraphs:

(M)Minimum milk prices for handlers
(i)Application of minimum price requirementsNotwithstanding any other provision of this section, a milk handler described in clause (ii) shall be subject to all of the minimum and uniform price requirements of a Federal milk marketing order issued pursuant to this section applicable to the county in which the plant of the handler is located, at Federal order class prices, if the handler has packaged fluid milk product route dispositions, or sales of packaged fluid milk products to other plants, in a marketing area located in a State that requires handlers to pay minimum prices for raw milk purchases.
(ii)Covered milk handlersExcept as provided in clause (iv), clause (i) applies to a handler of Class I milk products (including a producer-handler or producer operating as a handler) that—
(I)operates a plant that is located within the boundaries of a Federal order milk marketing area (as those boundaries are in effect as of the date of the enactment of this subparagraph);
(II)has packaged fluid milk product route dispositions, or sales of packaged fluid milk products to other plants, in a milk marketing area located in a State that requires handlers to pay minimum prices for raw milk purchases; and
(III)is not otherwise obligated by a Federal milk marketing order, or a regulated milk pricing plan operated by a State, to pay minimum class prices for the raw milk that is used for such dispositions or sales.
(iii)Obligation to pay minimum class pricesFor purposes of clause (ii)(III), the Secretary may not consider a handler of Class I milk products to be obligated by a Federal milk marketing order to pay minimum class prices for raw milk unless the handler operates the plant as a fully regulated fluid milk distributing plant under a Federal milk marketing order.
(iv)Certain handlers exemptedClause (i) does not apply to—
(I)a handler (otherwise described in clause (ii)) that operates a nonpool plant (as defined in section 1000.8(e) of title 7, Code of Federal Regulations, as in effect on the date of the enactment of this subparagraph);
(II)a producer-handler (otherwise described in clause (ii)) for any month during which the producer-handler has route dispositions, and sales to other plants, of packaged fluid milk products equaling less than 3,000,000 pounds of milk; or
(III)a handler (otherwise described in clause (ii)) for any month during which—
(aa)less than 25 percent of the total quantity of fluid milk products physically received at the plant of the handler (excluding concentrated milk received from another plant by agreement for other than Class I use) is disposed of as route disposition or is transferred in the form of packaged fluid milk products to other plants; or
(bb)less than 25 percent in aggregate of the route disposition or transfers are in a marketing area or areas located in one or more States that require handlers to pay minimum prices for raw milk purchases.
(N)Exemption for certain milk handlersNotwithstanding any other provision of this section, no handler with distribution of Class I milk products in the marketing area described in Order No. 131 shall be exempt during any month from any minimum price requirement established by the Secretary under this subsection if the total distribution of Class I products during the preceding month of any such handler’s own farm production exceeds 3,000,000 pounds..
(b)Exclusion of nevada from federal milk marketing ordersSection 8c(11) of the Agriculture Adjustment Act (7 U.S.C. 608c(11)), reenacted with amendments by the Agriculture Marketing Agreement Act of 1937, is amended—
(1)in subparagraph (C), by striking the last sentence; and
(2)by adding at the end the following new subparagraph:

(D)In the case of milk and its products, no county or other political subdivision of the State of Nevada shall be within the marketing area definition of any order issued under this section..
(c)Records and facility requirementsNotwithstanding any other provision of this section, or the amendments made by this section, a milk handler (including a producer-handler or a producer operating as a handler) that is subject to regulation under this section or an amendment made by this section shall comply with the requirements of section 1000.27 of title 7, Code of Federal Regulations, or a successor regulation, relating to handler responsibility for records or facilities.
(d)Effective date and implementationThe amendments made by this section take effect on the first day of the first month beginning more than 15 days after the date of the enactment of this Act. To accomplish the expedited implementation of these amendments, effective on the date of the enactment of this Act, the Secretary of Agriculture shall include in the pool distributing plant provisions of each Federal milk marketing order issued under subparagraph (B) of section 8c(5) of the Agriculture Adjustment Act (7 U.S.C. 608c(5)), reenacted with amendments by the Agriculture Marketing Agreement Act of 1937, a provision that a handler described in subparagraph (M) of such section, as added by subsection (a) of this section, will be fully regulated by the order in which the handler’s distributing plant is located. These amendments shall not be subject to a referendum under section 8c(19) of such Act (7 U.S.C. 608c(19)).


115 HCON 30 IH: Recognizing the 75th Anniversary of the establishment of the United States Navy Seabees and the Navy personnel who comprise the construction force for the Navy and the Marine Corps.
U.S. House of Representatives
2017-02-28
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

IV115th CONGRESS1st SessionH. CON. RES. 30IN THE HOUSE OF REPRESENTATIVESFebruary 28, 2017Mr. Kelly of Mississippi submitted the following concurrent resolution; which was referred to the Committee on Armed ServicesCONCURRENT RESOLUTIONRecognizing the 75th Anniversary of the establishment of the United States Navy Seabees and the
			 Navy personnel who comprise the construction force for the Navy and the
			 Marine Corps.

 Whereas, on March 5, 1942, Navy Construction Battalion personnel were officially named Seabees by the Navy Department;
 Whereas the purpose of the Navy Seabees is to build, maintain, and support base infrastructure in remote locations for the Navy and the Marine Corps, while simultaneously being capable of engaging in combat operations;
 Whereas the Navy Seabees dual role is exemplified by the Seabee motto Construimus, Batuimus: We Build, We Fight;
 Whereas, for 75 years, the Navy Seabees have answered the call of duty to protect the United States and its democratic values both in times of war and peace;
 Whereas the Navy Seabees support United States national security at combatant commands worldwide, through the construction, both on land and underwater, of bases, airfields, roads, bridges, and other infrastructure;
 Whereas members of the Navy Seabees and their families have demonstrated unmatched courage and dedication to sacrifice for the United States, from service in World War II, Korea, and Vietnam to the recent conflicts in Afghanistan, Iraq, and elsewhere;
 Whereas the Navy Seabees exhibit honor, personal courage, and commitment as they sacrifice their personal comfort to keep the United States safe from threats;
 Whereas the Navy Seabees continue to display strength, professionalism, and bravery in the all-volunteer force; and
 Whereas March 5, 2017, is the 75th Anniversary of the Seabees: Now, therefore, be it  That Congress—
 (1)recognizes the 75th Anniversary of the establishment of the United States Navy Seabees and the Navy personnel who comprise the construction force for the Navy and the Marine Corps; and
 (2)urges the President to issue a proclamation calling on the people of the United States to observe the 75th Anniversary of the establishment of the Seabees with appropriate ceremonies and activities.


		III
		110th CONGRESS
		1st Session
		S. RES. 277
		IN THE SENATE OF THE UNITED STATES

			July 23, 2007
			Mr. Schumer (for himself
			 and Mrs. Clinton) submitted the following
			 resolution; which was referred to the Committee on the Judiciary

			July 31, 2007
			Committee discharged; considered and agreed
			 to

		RESOLUTION
		Commemorating the 200th anniversary of the
		  Archdiocese of New York.

		Whereas it is a tradition of the Senate to honor and pay
			 tribute to those places and institutions within the United States with historic
			 significance that has contributed to the culture and traditions of the citizens
			 of the United States;
		Whereas, in accordance with this tradition, the Senate is
			 proud to commemorate the 200th anniversary of the Archdiocese of New York and
			 its history of faith and service;
		Whereas the Archdiocese of New York has planned a
			 year-long series of events beginning in April 2007 to celebrate its
			 bicentennial;
		Whereas the Archdiocese of New York is coordinating with
			 Catholic Charities of New York to institute an Archdiocese of New York Day of
			 Service to celebrate its history of serving the broader community;
		Whereas, on April 8, 1808, the Diocese of New York was
			 established with the Most Reverend R. Luke Concanen as its first Bishop, and
			 the Diocese was elevated to an Archdiocese in 1850;
		Whereas, on March 15, 1875, His Eminence John Cardinal
			 McCloskey, the second Archbishop of the Archdiocese of New York, became the
			 first Cardinal Archbishop of the Roman Catholic Church in the United
			 States;
		Whereas the Archdiocese of New York has welcomed Papal
			 visits from Pope Paul VI, on October 5, 1965, and Pope John Paul II, on October
			 7, 1979 and October 5, 1995;
		Whereas, on September 14, 1975, Elizabeth
			 Ann Seton, a member of the Archdiocese of New York and founder of the modern
			 Catholic education parochial school system, became the first person born in the
			 United States to be named a saint;
		Whereas Elizabeth Ann Seton is described on
			 the front doors of St. Patrick’s Cathedral as a Daughter of New
			 York and several schools are named after her, including Seton Hall
			 University in South Orange, New Jersey;
		Whereas the Archdiocese of New York is currently under the
			 spiritual guidance of His Eminence Edward M. Cardinal Egan, who was installed
			 on June 19, 2000 and elevated to Cardinal on February 21, 2001;
		Whereas the Archdiocese of New York originally included
			 the entirety of the States of New York and New Jersey, an area that is now
			 divided into 12 dioceses;
		Whereas the Archdiocese of New York has 2,500,000
			 Catholics in its fold;
		Whereas the Archdiocese of New York consists of 402
			 parishes, 278 elementary and high schools, and 3,729 charitable ministries,
			 including Catholic Charities, hospitals, nursing homes, and outreach programs;
			 and
		Whereas, throughout its rich historical past and up to the
			 present day, the Archdiocese of New York has been sustained by the beneficent
			 efforts of countless parishioners and ministries that have generously supported
			 their community with abundant kindness and good deeds: Now, therefore, be
			 it

		That the Senate commemorates the
			 200th anniversary of the Archdiocese of New York.


115 HR 1667 : Financial Institution Bankruptcy Act of 2017
U.S. House of Representatives
2017-04-06
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

		IIB
		115th CONGRESS
		1st Session
		H. R. 1667
		IN THE SENATE OF THE UNITED STATES
		April 6 (legislative day, April 4), 2017 Received; read twice and referred to the Committee on the JudiciaryAN ACT
		To amend title 11 of the United States Code in order to facilitate the resolution of an insolvent
			 financial institution in bankruptcy.

 1.Short titleThis Act may be cited as the Financial Institution Bankruptcy Act of 2017. 2.General provisions relating to covered financial corporations (a)DefinitionSection 101 of title 11, United States Code, is amended by inserting the following after paragraph (9):

 (9A)The term covered financial corporation means any corporation incorporated or organized under any Federal or State law, other than a stockbroker, a commodity broker, or an entity of the kind specified in paragraph (2) or (3) of section 109(b), that is—
 (A)a bank holding company, as defined in section 2(a) of the Bank Holding Company Act of 1956; or (B)a corporation that exists for the primary purpose of owning, controlling and financing its subsidiaries, that has total consolidated assets of $50,000,000,000 or greater, and for which, in its most recently completed fiscal year—
 (i)annual gross revenues derived by the corporation and all of its subsidiaries from activities that are financial in nature (as defined in section 4(k) of the Bank Holding Company Act of 1956) and, if applicable, from the ownership or control of one or more insured depository institutions, represents 85 percent or more of the consolidated annual gross revenues of the corporation; or
 (ii)the consolidated assets of the corporation and all of its subsidiaries related to activities that are financial in nature (as defined in section 4(k) of the Bank Holding Company Act of 1956) and, if applicable, related to the ownership or control of one or more insured depository institutions, represents 85 percent or more of the consolidated assets of the corporation..
 (b)Applicability of chaptersSection 103 of title 11, United States Code, is amended by adding at the end the following:  (l)Subchapter V of chapter 11 of this title applies only in a case under chapter 11 concerning a covered financial corporation..
 (c)Who may be a debtorSection 109 of title 11, United States Code, is amended— (1)in subsection (b)—
 (A)in paragraph (2), by striking or at the end; (B)in paragraph (3)(B), by striking the period at the end and inserting ; or; and
 (C)by adding at the end the following:  (4)a covered financial corporation.; and
 (2)in subsection (d)— (A)by striking and before an uninsured State member bank;
 (B)by striking or before a corporation; and (C)by inserting , or a covered financial corporation after Federal Deposit Insurance Corporation Improvement Act of 1991.
 (d)Conversion to chapter 7Section 1112 of title 11, United States Code, is amended by adding at the end the following:  (g)Notwithstanding section 109(b), the court may convert a case under subchapter V to a case under chapter 7 if—
 (1)a transfer approved under section 1185 has been consummated; (2)the court has ordered the appointment of a special trustee under section 1186; and
 (3)the court finds, after notice and a hearing, that conversion is in the best interest of the creditors and the estate..
			(e)
 (1)Section 726(a)(1) of title 11, United States Code, is amended by inserting after first, the following: in payment of any unpaid fees, costs, and expenses of a special trustee appointed under section 1186, and then.
 (2)Section 1129(a) of title 11, United States Code, is amended by inserting after paragraph (16) the following:

 (17)In a case under subchapter V, all payable fees, costs, and expenses of the special trustee have been paid or the plan provides for the payment of all such fees, costs, and expenses on the effective date of the plan.
 (18)In a case under subchapter V, confirmation of the plan is not likely to cause serious adverse effects on financial stability in the United States..
 (f)Section 322(b)(2) of title 11, United States Code, is amended by striking The and inserting In cases under subchapter V, the United States trustee shall recommend to the court, and in all other cases, the.
 3.Liquidation, reorganization, or recapitalization of a covered financial corporationChapter 11 of title 11, United States Code, is amended by adding at the end the following:  VLiquidation, Reorganization, or Recapitalization of a Covered Financial Corporation 1181.Inapplicability of other sectionsSections 303 and 321(c) do not apply in a case under this subchapter concerning a covered financial corporation. Section 365 does not apply to a transfer under section 1185, 1187, or 1188.
 1182.Definitions for this subchapterIn this subchapter, the following definitions shall apply: (1)The term Board means the Board of Governors of the Federal Reserve System.
 (2)The term bridge company means a newly formed corporation to which property of the estate may be transferred under section 1185(a) and the equity securities of which may be transferred to a special trustee under section 1186(a).
 (3)The term capital structure debt means all unsecured debt of the debtor for borrowed money for which the debtor is the primary obligor, other than a qualified financial contract and other than debt secured by a lien on property of the estate that is to be transferred to a bridge company pursuant to an order of the court under section 1185(a).
 (4)The term contractual right means a contractual right of a kind defined in section 555, 556, 559, 560, or 561. (5)The term qualified financial contract means any contract of a kind defined in paragraph (25), (38A), (47), or (53B) of section 101, section 741(7), or paragraph (4), (5), (11), or (13) of section 761.
 (6)The term special trustee means the trustee of a trust formed under section 1186(a)(1). 1183.Commencement of a case concerning a covered financial corporation (a)A case under this subchapter concerning a covered financial corporation may be commenced by the filing of a petition with the court by the debtor under section 301 only if the debtor states to the best of its knowledge under penalty of perjury in the petition that it is a covered financial corporation.
 (b)The commencement of a case under subsection (a) constitutes an order for relief under this subchapter.
 (c)The members of the board of directors (or body performing similar functions) of a covered financial corporation shall have no liability to shareholders, creditors, or other parties in interest for a good faith filing of a petition to commence a case under this subchapter, or for any reasonable action taken in good faith in contemplation of such a petition or a transfer under section 1185 or section 1186, whether prior to or after commencement of the case.
 (d)Counsel to the debtor shall provide, to the greatest extent practicable without disclosing the identity of the potential debtor, sufficient confidential notice to the chief judge of the court of appeals for the circuit embracing the district in which such counsel intends to file a petition to commence a case under this subchapter regarding the potential commencement of such case. The chief judge of such court shall randomly assign to preside over such case a bankruptcy judge selected from among the bankruptcy judges designated by the Chief Justice of the United States under section 298 of title 28.
 1184.RegulatorsThe Board, the Securities Exchange Commission, the Office of the Comptroller of the Currency of the Department of the Treasury, the Commodity Futures Trading Commission, and the Federal Deposit Insurance Corporation may raise and may appear and be heard on any issue in any case or proceeding under this subchapter.
					1185.Special transfer of property of the estate
 (a)On request of the trustee, and after notice and a hearing that shall occur not less than 24 hours after the order for relief, the court may order a transfer under this section of property of the estate, and the assignment of executory contracts, unexpired leases, and qualified financial contracts of the debtor, to a bridge company. Upon the entry of an order approving such transfer, any property transferred, and any executory contracts, unexpired leases, and qualified financial contracts assigned under such order shall no longer be property of the estate. Except as provided under this section, the provisions of section 363 shall apply to a transfer and assignment under this section.
 (b)Unless the court orders otherwise, notice of a request for an order under subsection (a) shall consist of electronic or telephonic notice of not less than 24 hours to—
 (1)the debtor; (2)the holders of the 20 largest secured claims against the debtor;
 (3)the holders of the 20 largest unsecured claims against the debtor; (4)counterparties to any debt, executory contract, unexpired lease, and qualified financial contract requested to be transferred under this section;
 (5)the Board; (6)the Federal Deposit Insurance Corporation;
 (7)the Secretary of the Treasury and the Office of the Comptroller of the Currency of the Treasury; (8)the Commodity Futures Trading Commission;
 (9)the Securities and Exchange Commission; (10)the United States trustee or bankruptcy administrator; and
 (11)each primary financial regulatory agency, as defined in section 2(12) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, with respect to any affiliate the equity securities of which are proposed to be transferred under this section.
 (c)The court may not order a transfer under this section unless the court determines, based upon a preponderance of the evidence, that—
 (1)the transfer under this section is necessary to prevent serious adverse effects on financial stability in the United States;
 (2)the transfer does not provide for the assumption of any capital structure debt by the bridge company;
 (3)the transfer does not provide for the transfer to the bridge company of any property of the estate that is subject to a lien securing a debt, executory contract, unexpired lease or agreement (including a qualified financial contract) of the debtor unless—
								(A)
 (i)the bridge company assumes such debt, executory contract, unexpired lease or agreement (including a qualified financial contract), including any claims arising in respect thereof that would not be allowed secured claims under section 506(a)(1) and after giving effect to such transfer, such property remains subject to the lien securing such debt, executory contract, unexpired lease or agreement (including a qualified financial contract); and
 (ii)the court has determined that assumption of such debt, executory contract, unexpired lease or agreement (including a qualified financial contract) by the bridge company is in the best interests of the estate; or
 (B)such property is being transferred to the bridge company in accordance with the provisions of section 363;
 (4)the transfer does not provide for the assumption by the bridge company of any debt, executory contract, unexpired lease or agreement (including a qualified financial contract) of the debtor secured by a lien on property of the estate unless the transfer provides for such property to be transferred to the bridge company in accordance with paragraph (3)(A) of this subsection;
 (5)the transfer does not provide for the transfer of the equity of the debtor; (6)the trustee has demonstrated that the bridge company is not likely to fail to meet the obligations of any debt, executory contract, qualified financial contract, or unexpired lease assumed and assigned to the bridge company;
 (7)the transfer provides for the transfer to a special trustee all of the equity securities in the bridge company and appointment of a special trustee in accordance with section 1186;
 (8)after giving effect to the transfer, adequate provision has been made for the fees, costs, and expenses of the estate and special trustee; and
 (9)the bridge company will have governing documents, and initial directors and senior officers, that are in the best interest of creditors and the estate.
 (d)Immediately before a transfer under this section, the bridge company that is the recipient of the transfer shall—
 (1)not have any property, executory contracts, unexpired leases, qualified financial contracts, or debts, other than any property acquired or executory contracts, unexpired leases, or debts assumed when acting as a transferee of a transfer under this section; and
 (2)have equity securities that are property of the estate, which may be sold or distributed in accordance with this title.
							1186.Special trustee
						(a)
 (1)An order approving a transfer under section 1185 shall require the trustee to transfer to a qualified and independent special trustee, who is appointed by the court, all of the equity securities in the bridge company that is the recipient of a transfer under section 1185 to hold in trust for the sole benefit of the estate, subject to satisfaction of the special trustee’s fees, costs, and expenses. The trust of which the special trustee is the trustee shall be a newly formed trust governed by a trust agreement approved by the court as in the best interests of the estate, and shall exist for the sole purpose of holding and administering, and shall be permitted to dispose of, the equity securities of the bridge company in accordance with the trust agreement.
 (2)In connection with the hearing to approve a transfer under section 1185, the trustee shall confirm to the court that the Board has been consulted regarding the identity of the proposed special trustee and advise the court of the results of such consultation.
 (b)The trust agreement governing the trust shall provide— (1)for the payment of the fees, costs, expenses, and indemnities of the special trustee from the assets of the debtor’s estate;
 (2)that the special trustee provide— (A)quarterly reporting to the estate, which shall be filed with the court; and
 (B)information about the bridge company reasonably requested by a party in interest to prepare a disclosure statement for a plan providing for distribution of any securities of the bridge company if such information is necessary to prepare such disclosure statement;
 (3)that for as long as the equity securities of the bridge company are held by the trust, the special trustee shall file a notice with the court in connection with—
 (A)any change in a director or senior officer of the bridge company; (B)any modification to the governing documents of the bridge company; and
 (C)any material corporate action of the bridge company, including— (i)recapitalization;
 (ii)a material borrowing; (iii)termination of an intercompany debt or guarantee;
 (iv)a transfer of a substantial portion of the assets of the bridge company; or (v)the issuance or sale of any securities of the bridge company;
 (4)that any sale of any equity securities of the bridge company shall not be consummated until the special trustee consults with the Federal Deposit Insurance Corporation and the Board regarding such sale and discloses the results of such consultation with the court;
 (5)that, subject to reserves for payments permitted under paragraph (1) provided for in the trust agreement, the proceeds of the sale of any equity securities of the bridge company by the special trustee be held in trust for the benefit of or transferred to the estate;
 (6)the process and guidelines for the replacement of the special trustee; and (7)that the property held in trust by the special trustee is subject to distribution in accordance with subsection (c).
							(c)
 (1)The special trustee shall distribute the assets held in trust— (A)if the court confirms a plan in the case, in accordance with the plan on the effective date of the plan; or
 (B)if the case is converted to a case under chapter 7, as ordered by the court. (2)As soon as practicable after a final distribution under paragraph (1), the office of the special trustee shall terminate, except as may be necessary to wind up and conclude the business and financial affairs of the trust.
 (d)After a transfer to the special trustee under this section, the special trustee shall be subject only to applicable nonbankruptcy law, and the actions and conduct of the special trustee shall no longer be subject to approval by the court in the case under this subchapter.
						1187.Temporary and supplemental automatic stay; assumed debt
						(a)
 (1)A petition filed under section 1183 operates as a stay, applicable to all entities, of the termination, acceleration, or modification of any debt, contract, lease, or agreement of the kind described in paragraph (2), or of any right or obligation under any such debt, contract, lease, or agreement, solely because of—
 (A)a default by the debtor under any such debt, contract, lease, or agreement; or (B)a provision in such debt, contract, lease, or agreement, or in applicable nonbankruptcy law, that is conditioned on—
 (i)the insolvency or financial condition of the debtor at any time before the closing of the case; (ii)the commencement of a case under this title concerning the debtor;
 (iii)the appointment of or taking possession by a trustee in a case under this title concerning the debtor or by a custodian before the commencement of the case; or
 (iv)a credit rating agency rating, or absence or withdrawal of a credit rating agency rating— (I)of the debtor at any time after the commencement of the case;
 (II)of an affiliate during the period from the commencement of the case until 48 hours after such order is entered;
 (III)of the bridge company while the trustee or the special trustee is a direct or indirect beneficial holder of more than 50 percent of the equity securities of—
 (aa)the bridge company; or (bb)the affiliate, if all of the direct or indirect interests in the affiliate that are property of the estate are transferred under section 1185; or
 (IV)of an affiliate while the trustee or the special trustee is a direct or indirect beneficial holder of more than 50 percent of the equity securities of—
 (aa)the bridge company; or (bb)the affiliate, if all of the direct or indirect interests in the affiliate that are property of the estate are transferred under section 1185.
 (2)A debt, contract, lease, or agreement described in this paragraph is— (A)any debt (other than capital structure debt), executory contract, or unexpired lease of the debtor (other than a qualified financial contract);
 (B)any agreement under which the debtor issued or is obligated for debt (other than capital structure debt);
 (C)any debt, executory contract, or unexpired lease of an affiliate (other than a qualified financial contract); or
 (D)any agreement under which an affiliate issued or is obligated for debt. (3)The stay under this subsection terminates—
 (A)for the benefit of the debtor, upon the earliest of— (i)48 hours after the commencement of the case;
 (ii)assumption of the debt, contract, lease, or agreement by the bridge company under an order authorizing a transfer under section 1185;
 (iii)a final order of the court denying the request for a transfer under section 1185; or (iv)the time the case is dismissed; and
 (B)for the benefit of an affiliate, upon the earliest of— (i)the entry of an order authorizing a transfer under section 1185 in which the direct or indirect interests in the affiliate that are property of the estate are not transferred under section 1185;
 (ii)a final order by the court denying the request for a transfer under section 1185; (iii)48 hours after the commencement of the case if the court has not ordered a transfer under section 1185; or
 (iv)the time the case is dismissed. (4)Subsections (d), (e), (f), and (g) of section 362 apply to a stay under this subsection.
 (b)A debt, executory contract (other than a qualified financial contract), or unexpired lease of the debtor, or an agreement under which the debtor has issued or is obligated for any debt, may be assumed by a bridge company in a transfer under section 1185 notwithstanding any provision in an agreement or in applicable nonbankruptcy law that—
 (1)prohibits, restricts, or conditions the assignment of the debt, contract, lease, or agreement; or (2)accelerates, terminates, or modifies, or permits a party other than the debtor to terminate or modify, the debt, contract, lease, or agreement on account of—
 (A)the assignment of the debt, contract, lease, or agreement; or (B)a change in control of any party to the debt, contract, lease, or agreement.
								(c)
 (1)A debt, contract, lease, or agreement of the kind described in subparagraph (A) or (B) of subsection (a)(2) may not be accelerated, terminated, or modified, and any right or obligation under such debt, contract, lease, or agreement may not be accelerated, terminated, or modified, as to the bridge company solely because of a provision in the debt, contract, lease, or agreement or in applicable nonbankruptcy law—
 (A)of the kind described in subsection (a)(1)(B) as applied to the debtor; (B)that prohibits, restricts, or conditions the assignment of the debt, contract, lease, or agreement; or
 (C)that accelerates, terminates, or modifies, or permits a party other than the debtor to terminate or modify, the debt, contract, lease or agreement on account of—
 (i)the assignment of the debt, contract, lease, or agreement; or (ii)a change in control of any party to the debt, contract, lease, or agreement.
 (2)If there is a default by the debtor under a provision other than the kind described in paragraph (1) in a debt, contract, lease or agreement of the kind described in subparagraph (A) or (B) of subsection (a)(2), the bridge company may assume such debt, contract, lease, or agreement only if the bridge company—
 (A)shall cure the default; (B)compensates, or provides adequate assurance in connection with a transfer under section 1185 that the bridge company will promptly compensate, a party other than the debtor to the debt, contract, lease, or agreement, for any actual pecuniary loss to the party resulting from the default; and
 (C)provides adequate assurance in connection with a transfer under section 1185 of future performance under the debt, contract, lease, or agreement, as determined by the court under section 1185(c)(4).
								1188.Treatment of qualified financial contracts and affiliate contracts
 (a)Notwithstanding sections 362(b)(6), 362(b)(7), 362(b)(17), 362(b)(27), 362(o), 555, 556, 559, 560, and 561, a petition filed under section 1183 operates as a stay, during the period specified in section 1187(a)(3)(A), applicable to all entities, of the exercise of a contractual right—
 (1)to cause the modification, liquidation, termination, or acceleration of a qualified financial contract of the debtor or an affiliate;
 (2)to offset or net out any termination value, payment amount, or other transfer obligation arising under or in connection with a qualified financial contract of the debtor or an affiliate; or
 (3)under any security agreement or arrangement or other credit enhancement forming a part of or related to a qualified financial contract of the debtor or an affiliate.
							(b)
 (1)During the period specified in section 1187(a)(3)(A), the trustee or the affiliate shall perform all payment and delivery obligations under such qualified financial contract of the debtor or the affiliate, as the case may be, that become due after the commencement of the case. The stay provided under subsection (a) terminates as to a qualified financial contract of the debtor or an affiliate immediately upon the failure of the trustee or the affiliate, as the case may be, to perform any such obligation during such period.
 (2)Any failure by a counterparty to any qualified financial contract of the debtor or any affiliate to perform any payment or delivery obligation under such qualified financial contract, including during the pendency of the stay provided under subsection (a), shall constitute a breach of such qualified financial contract by the counterparty.
 (c)Subject to the court’s approval, a qualified financial contract between an entity and the debtor may be assigned to or assumed by the bridge company in a transfer under, and in accordance with, section 1185 if and only if—
 (1)all qualified financial contracts between the entity and the debtor are assigned to and assumed by the bridge company in the transfer under section 1185;
 (2)all claims of the entity against the debtor in respect of any qualified financial contract between the entity and the debtor (other than any claim that, under the terms of the qualified financial contract, is subordinated to the claims of general unsecured creditors) are assigned to and assumed by the bridge company;
 (3)all claims of the debtor against the entity under any qualified financial contract between the entity and the debtor are assigned to and assumed by the bridge company; and
 (4)all property securing or any other credit enhancement furnished by the debtor for any qualified financial contract described in paragraph (1) or any claim described in paragraph (2) or (3) under any qualified financial contract between the entity and the debtor is assigned to and assumed by the bridge company.
 (d)Notwithstanding any provision of a qualified financial contract or of applicable nonbankruptcy law, a qualified financial contract of the debtor that is assumed or assigned in a transfer under section 1185 may not be accelerated, terminated, or modified, after the entry of the order approving a transfer under section 1185, and any right or obligation under the qualified financial contract may not be accelerated, terminated, or modified, after the entry of the order approving a transfer under section 1185 solely because of a condition described in section 1187(c)(1), other than a condition of the kind specified in section 1187(b) that occurs after property of the estate no longer includes a direct beneficial interest or an indirect beneficial interest through the special trustee, in more than 50 percent of the equity securities of the bridge company.
 (e)Notwithstanding any provision of any agreement or in applicable nonbankruptcy law, an agreement of an affiliate (including an executory contract, an unexpired lease, qualified financial contract, or an agreement under which the affiliate issued or is obligated for debt) and any right or obligation under such agreement may not be accelerated, terminated, or modified, solely because of a condition described in section 1187(c)(1), other than a condition of the kind specified in section 1187(b) that occurs after the bridge company is no longer a direct or indirect beneficial holder of more than 50 percent of the equity securities of the affiliate, at any time after the commencement of the case if—
 (1)all direct or indirect interests in the affiliate that are property of the estate are transferred under section 1185 to the bridge company within the period specified in subsection (a);
 (2)the bridge company assumes— (A)any guarantee or other credit enhancement issued by the debtor relating to the agreement of the affiliate; and
 (B)any obligations in respect of rights of setoff, netting arrangement, or debt of the debtor that directly arises out of or directly relates to the guarantee or credit enhancement; and
 (3)any property of the estate that directly serves as collateral for the guarantee or credit enhancement is transferred to the bridge company.
							1189.Licenses, permits, and registrations
 (a)Notwithstanding any otherwise applicable nonbankruptcy law, if a request is made under section 1185 for a transfer of property of the estate, any Federal, State, or local license, permit, or registration that the debtor or an affiliate had immediately before the commencement of the case and that is proposed to be transferred under section 1185 may not be accelerated, terminated, or modified at any time after the request solely on account of—
 (1)the insolvency or financial condition of the debtor at any time before the closing of the case; (2)the commencement of a case under this title concerning the debtor;
 (3)the appointment of or taking possession by a trustee in a case under this title concerning the debtor or by a custodian before the commencement of the case; or
 (4)a transfer under section 1185. (b)Notwithstanding any otherwise applicable nonbankruptcy law, any Federal, State, or local license, permit, or registration that the debtor had immediately before the commencement of the case that is included in a transfer under section 1185 shall be valid and all rights and obligations thereunder shall vest in the bridge company.
 1190.Exemption from securities lawsFor purposes of section 1145, a security of the bridge company shall be deemed to be a security of a successor to the debtor under a plan if the court approves the disclosure statement for the plan as providing adequate information (as defined in section 1125(a)) about the bridge company and the security.
 1191.Inapplicability of certain avoiding powersA transfer made or an obligation incurred by the debtor to an affiliate prior to or after the commencement of the case, including any obligation released by the debtor or the estate to or for the benefit of an affiliate, in contemplation of or in connection with a transfer under section 1185 is not avoidable under section 544, 547, 548(a)(1)(B), or 549, or under any similar nonbankruptcy law.
 1192.Consideration of financial stabilityThe court may consider the effect that any decision in connection with this subchapter may have on financial stability in the United States..
		4.Amendments to title 28, United States Code
 (a)Amendment to chapter 13Chapter 13 of title 28, United States Code, is amended by adding at the end the following:  298.Judge for a case under subchapter V of chapter 11 of title 11 (a) (1)Notwithstanding section 295, the Chief Justice of the United States shall designate not fewer than 10 bankruptcy judges to be available to hear a case under subchapter V of chapter 11 of title 11. Bankruptcy judges may request to be considered by the Chief Justice of the United States for such designation.
 (2)Notwithstanding section 155, a case under subchapter V of chapter 11 of title 11 shall be heard under section 157 by a bankruptcy judge designated under paragraph (1), who shall be randomly assigned to hear such case by the chief judge of the court of appeals for the circuit embracing the district in which the case is pending. To the greatest extent practicable, the approvals required under section 155 should be obtained.
 (3)If the bankruptcy judge assigned to hear a case under paragraph (2) is not assigned to the district in which the case is pending, the bankruptcy judge shall be temporarily assigned to the district.
 (b)A case under subchapter V of chapter 11 of title 11, and all proceedings in the case, shall take place in the district in which the case is pending.
 (c)In this section, the term covered financial corporation has the meaning given that term in section 101(9A) of title 11.. (b)Amendment to section 1334 of title 28Section 1334 of title 28, United States Code, is amended by adding at the end the following:

 (f)This section does not grant jurisdiction to the district court after a transfer pursuant to an order under section 1185 of title 11 of any proceeding related to a special trustee appointed, or to a bridge company formed, in connection with a case under subchapter V of chapter 11 of title 11..
			(c)Technical and conforming amendments
 (1)The table of sections of chapter 13 of title 28, United States Code, is amended by adding at the end the following:

							298. Judge for a case under subchapter V of chapter 11 of title 11..
 (2)The table of subchapters of chapter 11 of title 11, United States Code, is amended by adding at the end the following:

							Subchapter V—Liquidation, Reorganization, or Recapitalization of a Covered Financial Corporation
							1181. Inapplicability of other sections.
							1182. Definitions for this subchapter.
							1183. Commencement of a case concerning a covered financial corporation.
							1184. Regulators.
							1185. Special transfer of property of the estate.
							1186. Special trustee.
							1187. Temporary and supplemental automatic stay; assumed debt.
							1188. Treatment of qualified financial contracts and affiliate contracts.
							1189. Licenses, permits, and registrations.
							1190. Exemption from securities laws.
							1191. Inapplicability of certain avoiding powers.
							1192. Consideration of financial stability.
						.

	Passed the House of Representatives April 5, 2017.Karen L. Haas,Clerk


115 S1397 IS: Protecting the Second Amendment Act
U.S. Senate
2017-06-21
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II115th CONGRESS1st SessionS. 1397IN THE SENATE OF THE UNITED STATESJune 21, 2017Mr. Strange (for himself, Mr. Cruz, and Mr. Cornyn) introduced the following bill; which was read twice and referred to the Committee on the JudiciaryA BILLTo nullify any generalized, routine or ongoing reporting requirement imposed on a person licensed
			 under section 923 of title 18, United States Code, that is based on the
			 geographic location in which the licensee is located or on the sale of
			 multiple rifles or shotguns, or any specific type of rifle or shotgun, to
			 the same person.

 1.Short titleThis Act may be cited as the Protecting the Second Amendment Act. 2.Nullification of any generalized, routine or ongoing reporting requirement imposed on a person licensed under section 923 of title 18, United States Code, that is based on the geographic location in which the licensee is located or on the sale of multiple rifles or shotguns, or any specific type of rifle or shotgun, to the same personNo person licensed under section 923 of title 18, United States Code, shall be subject to any generalized, routine or ongoing reporting requirement based on the geographic location in which the licensee is located or on the sale of multiple rifles or shotguns, or any specific type of rifle or shotgun, to the same person.


		I
		111th CONGRESS
		2d Session
		H. R. 5491
		IN THE HOUSE OF REPRESENTATIVES

			June 9, 2010
			Mr. Carney (for
			 himself and Mr. Platts) introduced the
			 following bill; which was referred to the Committee on Ways and Means

		A BILL
		To amend the Internal Revenue Code of 1986 to provide a
		  refundable credit for taxpayers with long-term care needs.

		1.Short titleThis Act may be cited as the
			 Caregiver Tax Relief Act of
			 2010.
		2.Credit for
			 taxpayers with long-term care needs
			(a)In
			 generalSubpart C of part IV
			 of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to
			 refundable personal credits) is amended by inserting after section 36C the
			 following new section:

					36D.Credit for
				taxpayers with long-term care needs
						(a)Allowance of
				Credit
							(1)In
				generalThere shall be
				allowed as a credit against the tax imposed by this chapter for the taxable
				year an amount equal to the applicable credit amount multiplied by the number
				of applicable individuals with respect to whom the taxpayer is an eligible
				caregiver for the taxable year.
							(2)Applicable
				credit amountFor purposes of
				paragraph (1), the applicable credit amount shall be $2,500.
							(b)Limitation Based
				on Adjusted Gross Income
							(1)In
				generalThe amount of the
				credit allowable under subsection (a) shall be reduced (but not below zero) by
				$100 for each $1,000 (or fraction thereof) by which the taxpayer’s modified
				adjusted gross income exceeds the threshold amount. For purposes of the
				preceding sentence, the term modified adjusted gross income means
				adjusted gross income increased by any amount excluded from gross income under
				section 911, 931, or 933.
							(2)Threshold
				amountFor purposes of
				paragraph (1), the term threshold amount means—
								(A)$150,000 in the case of a joint return,
				and
								(B)$75,000 in any other case.
								(3)IndexingIn the case of any taxable year beginning
				in a calendar year after 2011, each dollar amount contained in paragraph (2)
				shall be increased by an amount equal to the product of—
								(A)such dollar amount; and
								(B)the medical care cost adjustment determined
				under section 213(d)(10)(B)(ii) for the calendar year in which the taxable year
				begins, determined by substituting 2008 for 1996
				in subclause (II) thereof. If any increase determined under the preceding
				sentence is not a multiple of $50, such increase shall be rounded to the next
				lowest multiple of $50.
								(c)DefinitionsFor purposes of this section:
							(1)Applicable
				individual
								(A)In
				generalThe term
				applicable individual means, with respect to any taxable year, any
				individual who has been certified, before the due date for filing the return of
				tax for the taxable year (without extensions), by a physician (as defined in
				section 1861(r)(1) of the Social Security Act) as being an individual with
				long-term care needs described in subparagraph (B) for a period—
									(i)which is at least 180 consecutive days,
				and
									(ii)a portion of which occurs within the
				taxable year.
									Such
				term shall not include any individual otherwise meeting the requirements of the
				preceding sentence unless within the 39½ month period ending on such due date
				(or such other period as the Secretary prescribes) a physician (as so defined)
				has certified that such individual meets such requirements.(B)Individuals with
				long-term care needsAn
				individual is described in this subparagraph if the individual meets any of the
				following requirements:
									(i)The individual is at least 18 years of age
				and—
										(I)is unable to perform (without substantial
				assistance from another individual) at least 3 activities of daily living (as
				defined in section 7702B(c)(2)(B)) due to a loss of functional capacity,
				or
										(II)requires substantial supervision to protect
				such individual from threats to health and safety due to severe cognitive
				impairment and is unable to perform at least 1 activity of daily living (as so
				defined) or to the extent provided in regulations prescribed by the Secretary
				(in consultation with the Secretary of Health and Human Services), is unable to
				engage in age appropriate activities.
										(ii)The individual is at least 6 but not 18
				years of age and—
										(I)is unable to perform (without substantial
				assistance from another individual) at least 3 activities of daily living (as
				defined in section 7702B(c)(2)(B)) due to a loss of functional capacity,
										(II)requires substantial supervision to protect
				such individual from threats to health and safety due to severe cognitive
				impairment and is unable to perform at least 1 activity of daily living (as so
				defined) or to the extent provided in regulations prescribed by the Secretary
				(in consultation with the Secretary of Health and Human Services), is unable to
				engage in age appropriate activities,
										(III)has a level of disability similar to the
				level of disability described in subclause (I) (as determined under regulations
				promulgated by the Secretary), or
										(IV)has a complex medical condition (as defined
				by the Secretary) that requires medical management and coordination of
				care.
										(iii)The individual is at least 2 but not 6
				years of age and—
										(I)is unable due to a loss of functional
				capacity to perform (without substantial assistance from another individual) at
				least 2 of the following activities: eating, transferring, or mobility,
										(II)has a level of disability similar to the
				level of disability described in subclause (I) (as determined under regulations
				promulgated by the Secretary), or
										(III)has a complex medical condition (as defined
				by the Secretary) that requires medical management and coordination of
				care.
										(iv)The individual is under 2 years of age
				and—
										(I)requires specific durable medical equipment
				by reason of a severe health condition or requires a skilled practitioner
				trained to address the individual’s condition to be available if the
				individual’s parents or guardians are absent,
										(II)has a level of disability similar to the
				level of disability described in subclause (I) (as determined under regulations
				promulgated by the Secretary), or
										(III)has a complex medical condition (as defined
				by the Secretary) that requires medical management and coordination of
				care.
										(v)The individual has 5 or more chronic
				conditions (as defined in subparagraph (C)) and is unable to perform (without
				substantial assistance from another individual) at least 1 activity of daily
				living (as so defined) due to a loss of functional capacity.
									(C)Chronic
				conditionFor purposes of
				this paragraph, the term chronic condition means a condition that
				lasts for at least 6 consecutive months and requires ongoing medical
				care.
								(2)Eligible
				caregiver
								(A)In
				generalA taxpayer shall be
				treated as an eligible caregiver for any taxable year with respect to each of
				the following individuals:
									(i)The taxpayer.
									(ii)The taxpayer’s spouse.
									(iii)An individual who is a qualifying child (as
				defined in section 152(c)) or a qualifying relative (as defined in section
				152(d)) with respect to whom the taxpayer is allowed a deduction under section
				151(c) for the taxable year.
									(iv)An individual who would be a qualifying
				relative described in clause (iii) for the taxable year if section 152(d)(1)(B)
				were applied by substituting for the exemption amount an amount equal to the
				sum of the exemption amount, the standard deduction under section 63(c)(2)(C),
				and any additional standard deduction under section 63(c)(3) which would be
				applicable to the individual if clause (iii) applied.
									(v)An individual who would be a qualifying
				relative described in clause (iii) for the taxable year if—
										(I)the requirements of clause (iv) are met
				with respect to the individual; and
										(II)the requirements of subparagraph (B) are
				met with respect to the individual in lieu of the support test of section
				152(d)(1)(C).
										(B)Residency
				testThe requirements of this
				subparagraph are met if an individual has as his principal place of abode the
				home of the taxpayer and—
									(i)in the case of an individual who is an
				ancestor or descendant of the taxpayer or the taxpayer’s spouse, is a member of
				the taxpayer’s household for over half the taxable year, or
									(ii)in the case of any other individual, is a
				member of the taxpayer’s household for the entire taxable year.
									(C)Special rules
				where more than 1 eligible caregiver
									(i)In
				generalIf more than 1
				individual is an eligible caregiver with respect to the same applicable
				individual for taxable years ending with or within the same calendar year, a
				taxpayer shall be treated as the eligible caregiver if each such individual
				(other than the taxpayer) files a written declaration (in such form and manner
				as the Secretary may prescribe) that such individual will not claim such
				applicable individual for the credit under this section.
									(ii)No
				agreementIf each individual
				required under clause (i) to file a written declaration under clause (i) does
				not do so, the individual with the highest modified adjusted gross income (as
				defined in section 32(c)(5) (as in effect on the day before the enactment of
				the Economic Growth and Tax Relief Reconciliation Act of 2001)) shall be
				treated as the eligible caregiver.
									(iii)Married
				individuals filing separatelyIn the case of married individuals filing
				separately, the determination under this subparagraph as to whether the husband
				or wife is the eligible caregiver shall be made under the rules of clause (ii)
				(whether or not one of them has filed a written declaration under clause
				(i)).
									(d)Identification
				RequirementNo credit shall
				be allowed under this section to a taxpayer with respect to any applicable
				individual unless the taxpayer includes the name and taxpayer identification
				number of such individual, and the identification number of the physician
				certifying such individual, on the return of tax for the taxable year.
						(e)Taxable Year
				Must Be Full Taxable YearExcept in the case of a taxable year closed
				by reason of the death of the taxpayer, no credit shall be allowable under this
				section in the case of a taxable year covering a period of less than 12
				months.
						(f)Citizens or
				nationals of other countries
							(1)In
				generalThe terms applicable individual and
				eligible caregiver do not include an individual who is not a
				citizen or national of the United States unless such individual is a resident
				alien (as defined in section 7702(b)).
							(2)Exception for
				adopted childParagraph (1) shall not exclude any child of a
				taxpayer (within the meaning of section 152(f)(1)(B)) if—
								(A)for the taxable
				year of the taxpayer, the child has the same principal place of abode as the
				taxpayer and is a member of the taxpayer’s household, and
								(B)the taxpayer is a
				citizen, national, or resident alien of the United
				States.
								.
			(b)Conforming
			 amendments
				(1)Section 6213(g)(2) of such Code is amended
			 by striking and at the end of subparagraph (O), by striking the
			 period at the end of subparagraph (P) and inserting , and, and
			 by inserting after subparagraph (P) the following new subparagraph:

						(Q)an omission of a
				correct TIN or physician identification required under section 36D(d) (relating
				to credit for taxpayers with long-term care needs) to be included on a
				return.
						.
				(2)The table of sections for subpart C of part
			 IV of subchapter A of chapter 1 of such Code is amended by inserting after the
			 item relating to section 36C the following new item:

							Sec. 36D. Credit for taxpayers with long-term care
				needs.

						.
				(c)Effective
			 dateThe amendments made by
			 this section shall apply to taxable years beginning after December 31,
			 2010.


		II
		110th CONGRESS
		2d Session
		S. 2581
		IN THE SENATE OF THE UNITED STATES

			January 30, 2008
			Mr. Byrd (for himself
			 and Mr. Rockefeller) introduced the
			 following bill; which was read twice and referred to the
			 Committee on Energy and Natural
			 Resources

		A BILL
		To designate as wilderness additional National Forest
		  System lands in the Monongahela National Forest in the State of West Virginia,
		  and for other purposes.

		1.Short titleThis Act may be cited as the
			 Wild Monongahela Act: A National
			 Legacy for West Virginia’s Special Places.
		2.Designation of
			 wilderness, Monongahela National Forest, West Virginia
			(a)DesignationIn furtherance of the purposes of the
			 Wilderness Act (16 U.S.C. 1131 et seq.), the following Federal lands within the
			 Monongahela National Forest in the State of West Virginia are designated as
			 wilderness and as either a new component of the National Wilderness
			 Preservation System or as an addition to an existing component of the National
			 Wilderness Preservation System:
				(1)Certain Federal land comprising
			 approximately 5,242 acres, as generally depicted on the map entitled “Wild
			 Monongahela: A National Legacy for West Virginia’s Special Places” and dated
			 December 31, 2007 (in this subsection referred to as the map),
			 which shall be known as the Big Draft Wilderness.
				(2)Certain Federal
			 land comprising approximately 7,955 acres, as generally depicted on the map,
			 which shall be known as the “Cheat Mountain Wilderness”.
				(3)Certain Federal
			 land comprising approximately 12,032 acres, as generally depicted on the map
			 and referred to as the “Cranberry Expansion”, which shall be added to and
			 administered as part of the Cranberry Wilderness designated by section 1(1) of
			 Public Law 97–466 (96 Stat. 2538).
				(4)Certain Federal land comprising
			 approximately 7,215 acres, as generally depicted on the map and referred to as
			 the “Dolly Sods Expansion”, which shall be added to and administered as part of
			 the Dolly Sods Wilderness designated by section 3(a)(13) of Public Law 93–622
			 (88 Stat. 2098).
				(5)Certain Federal land comprising
			 approximately 740 acres, as generally depicted on the map and referred to as
			 the “Dry Fork Expansion”, which shall be added to and administered as part of
			 the Otter Creek Wilderness designated by section 3(a)(14) of Public Law 93–622
			 (88 Stat. 2098).
				(6)Certain Federal
			 land comprising approximately 6,820 acres, as generally depicted on the map,
			 which shall be known as the “Roaring Plains West Wilderness”.
				(7)Certain Federal
			 land comprising approximately 7,124 acres, as generally depicted on the map,
			 which shall be known as the Spice Run Wilderness.
				(b)Maps and legal
			 description
				(1)Filing and
			 availabilityAs soon as
			 practicable after the date of the enactment of this Act, the Secretary of
			 Agriculture, acting through the Chief of the Forest Service, shall file with
			 the Committee on Natural Resources of the House of Representatives and the
			 Committee on Agriculture, Nutrition, and Forestry of the Senate a map and legal
			 description of each wilderness area designated or expanded by subsection (a).
			 The maps and legal descriptions shall be on file and available for public
			 inspection in the office of the Chief of the Forest Service and the office of
			 the Supervisor of the Monongahela National Forest.
				(2)Force and
			 effectThe maps and legal descriptions referred to in this
			 subsection shall have the same force and effect as if included in this Act,
			 except that the Secretary may correct clerical and typographical errors in the
			 maps and descriptions.
				(c)AdministrationSubject to valid existing rights, the
			 Federal lands designated as wilderness by subsection (a) shall be administered
			 by the Secretary in accordance with the Wilderness Act (16 U.S.C. 1131 et
			 seq.).
			(d)Effective date
			 of wilderness actWith respect to the Federal lands designated as
			 wilderness by subsection (a), any reference in the Wilderness Act (16 U.S.C.
			 1131 et seq.) to the effective date of the Wilderness Act shall be deemed to be
			 a reference to the date of the enactment of this Act.
			(e)Fish and
			 wildlifeAs provided in section 4(d)(7) of the Wilderness Act (16
			 U.S.C. 1133(d)(7)), nothing in this section affects the jurisdiction or
			 responsibility of the State of West Virginia with respect to wildlife and
			 fish.


113 HCON 95 IH: Expressing the sense of Congress regarding support for voluntary, incentive-based, private land conservation implemented through cooperation with local soil and water conservation districts.
U.S. House of Representatives
2014-03-25
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

		IV
		113th CONGRESS
		2d Session
		H. CON. RES. 95
		IN THE HOUSE OF REPRESENTATIVES

			March 25, 2014
			Mr. Hudson submitted the following concurrent resolution; which was referred to the Committee on Natural Resources

		CONCURRENT RESOLUTION
		Expressing the sense of Congress regarding support for voluntary, incentive-based, private land
			 conservation implemented through cooperation with local soil and water
			 conservation districts.

		Whereas over 70 percent of the contiguous United States is privately owned;
		Whereas the future of the environment is determined by the decisions made by the men and women who
			 own and manage that land, including urban landscapes;
		Whereas world population is projected to reach 9,000,000,000 people by 2050;
		Whereas increased production will be needed from agricultural land to feed the increasing
			 population;
		Whereas meeting these needs will make caring for the environment more difficult; and
		Whereas landowners work to ensure they sustain a healthy environment to support abundant wildlife:
			 Now, therefore, be it

		That—
			(1)Congress supports the conservation of the Nation’s natural resources and working lands; and
			(2)it is the sense of Congress that voluntary, incentive-based, private land conservation, provided in
			 partnership with local conservation districts, is necessary to sustain
			 natural resources, meet the needs of a growing population, and ensure
			 safe, abundant, and adequate resources for current and future generations.


110 HR 698 : Industrial Bank Holding Company Act of

U.S. House of Representatives
2007-05-22
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

		IIB
		110th CONGRESS
		1st Session
		H. R. 698
		IN THE SENATE OF THE UNITED
		  STATES

			May 22, 2007
			 Received; read twice and referred to the
			 Committee on Banking, Housing, and Urban
			 Affairs

		AN ACT
		To amend the Federal Deposit Insurance Act
		  to establish industrial bank holding company regulation, and for other
		  purposes.

		1.Short titleThis Act may be cited as the
			 Industrial Bank Holding Company Act of
			 2007.
		2.Industrial bank
			 holding company regulation
			(a)Definitions
				(1)Industrial
			 bankSection 3(a) of the Federal Deposit Insurance Act
			 (12 U.S.C.
			 1813(a)) is amended by adding at the end the following new
			 paragraph:

						(4)Industrial
				bankThe term
				industrial bank means any insured State bank that is an industrial
				bank, industrial loan company, or other institution that is excluded, pursuant
				to section 2(c)(2)(H) of the Bank Holding Company Act of 1956, from the
				definition of the term bank for purposes of such
				Act.
						.
				(2)Industrial bank
			 holding companySection 3(w) of the Federal Deposit Insurance Act
			 (12 U.S.C.
			 1813(w)) is amended by adding at the end the following new
			 paragraphs:

						(8)Industrial bank
				holding companyThe term industrial bank holding
				company means any company that—
							(A)controls (as
				determined by the Corporation pursuant to section 2(a) of the Bank Holding
				Company Act of 1956), directly or indirectly, any industrial bank; and
							(B)is not—
								(i)1 or more of the following: a bank holding
				company, a savings and loan holding company, a company that is subject to the
				Bank Holding Company Act of 1956 pursuant to section 8(a) of the International
				Banking Act of 1978, or a holding company regulated by the Securities and
				Exchange Commission pursuant to
				section
				240.15c3–1(a)(7) of title 17 of the Code of Federal Regulations
				(as in effect on January 29, 2007); or
								(ii)controlled by a
				company described in clause (i).
								(9)Capital terms
				relating to industrial bank holding companies
							(A)Adequately
				capitalizedWith respect to
				an industrial bank holding company, the term adequately
				capitalized means a level of capitalization which meets or exceeds all
				applicable Federal regulatory capital standards.
							(B)Well
				capitalizedWith respect to
				an industrial bank holding company, the term well capitalized
				means a level of capitalization which meets or exceeds the required capital
				levels for well capitalized industrial bank holding companies established by
				the
				Corporation.
							.
				(3)Technical and
			 conforming amendments to other definitions
					(A)Appropriate
			 federal banking agencySection 3(q)(3) of the Federal Deposit
			 Insurance Act (12
			 U.S.C. 1813(q)(3)) is amended—
						(i)by
			 striking or a foreign and inserting , any
			 foreign; and
						(ii)by
			 inserting , and any industrial bank holding company and any subsidiary
			 of an industrial bank holding company (other than a bank) after
			 insured branch.
						(B)Depository
			 institution holding companySection 3(w)(1) of the Federal
			 Deposit Insurance Act (12 U.S.C. 1813(w)(1)) is
			 amended—
						(i)by
			 striking or a savings and inserting , any
			 savings; and
						(ii)by
			 inserting , and any industrial bank holding company before the
			 period at the end.
						(b)Industrial bank
			 holding company registration and ownershipThe Federal Deposit
			 Insurance Act (12
			 U.S.C. 1811 et seq.) is amended by adding at the end the
			 following new section:

					51.Industrial bank
				holding company regulation
						(a)Acquisition of
				industrial bank shares or assetsSection 3 of the Bank Holding Company Act
				of 1956 (other than section 3(c)(3)(B) of that Act) shall apply to any company
				that is or would become an industrial bank holding company in the same manner
				as such section applies to a company that is or would become a bank holding
				company, except that for purposes of applying this subsection—
							(1)any reference to a
				bank holding company in such section 3 shall be deemed to be a
				reference to an industrial bank holding company;
							(2)any reference to a bank in
				such section 3 shall be deemed to be a reference to an industrial
				bank;
							(3)any reference to the Board
				in such section 3 shall be deemed to be a reference to the Corporation;
							(4)any reference to
				the Bank Holding Company Act Amendments of 1970 in such section
				3 shall be deemed to be a reference to the Industrial Bank Holding
				Company Act of 2007;
							(5)any reference to a home
				State in such section 3 shall be deemed to be a reference to—
								(A)with respect to an
				industrial bank holding company, the State in which the total deposits of all
				banking subsidiaries of such company were the largest on the later of—
									(i)January 28, 2007;
				or
									(ii)the date on which
				the company becomes an industrial bank holding company under this section; and
									(B)with respect to an
				industrial bank, the home State of the bank as determined under section 44(g);
								(6)any reference to a host
				State in such section 3 shall be deemed to be a reference to—
								(A)with respect to an
				industrial bank holding company, a State, other than the home State of the
				company, in which the company controls, or seeks to control, an industrial bank
				subsidiary; and
								(B)with respect to an
				industrial bank, the host State of the bank as determined under section
				44(g);
								(7)any reference to an out-of-State
				bank holding company in such section 3 shall be deemed to be a
				reference to, with respect to any State, an industrial bank holding company
				whose home State is another State; and
							(8)any reference to an out-of-State
				bank in such section 3 shall be deemed to be a reference to, with
				respect to any State, an industrial bank whose home State is another
				State.
							(b)Application
				processAn application filed
				under subsection (a) to acquire control of an industrial bank shall be treated
				as an application for a deposit facility for purposes of this Act and any other
				Federal law.
						(c)Registration
							(1)In
				generalEach industrial bank
				holding company shall register with the Corporation on forms prescribed by the
				Corporation before the end of the 180-day period beginning on the later
				of—
								(A)the date the company becomes an industrial
				bank holding company; or
								(B)the date of the enactment of the Industrial
				Bank Holding Company Act of 2007.
								(2)Information to
				be includedEach registration submitted under paragraph (1) shall
				include such information, under oath, with respect to the financial condition,
				ownership, operations, management, and intercompany relationships of the
				industrial bank holding company and subsidiaries of such holding company, and
				other factors (including information described in subsection (d)(1)(C)), as the
				Corporation may determine to be appropriate to carry out the purposes of this
				section.
							(3)Extension of
				time for submitting complete informationUpon application by an
				industrial bank holding company and subject to such requirements, factors, and
				evidence as the Corporation may require, the Corporation may extend the period
				described in paragraph (1) within which such company shall register and file
				the requisite information.
							(d)Reports and
				examinations
							(1)Reports
								(A)Reports
				requiredEach industrial bank holding company and each subsidiary
				of an industrial bank holding company, other than an industrial bank, shall
				file with the Corporation such reports as may be required by the
				Corporation.
								(B)Form and
				mannerReports filed under subparagraph (A) shall be made under
				oath and shall be in such form and for such periods, as the Corporation may
				prescribe.
								(C)InformationEach report filed under subparagraph (A)
				shall contain such information as the Corporation may require
				concerning—
									(i)the operations of
				the industrial bank holding company and the holding company’s
				subsidiaries;
									(ii)the financial condition of the industrial
				bank holding company and such subsidiaries, together with information on
				systems maintained within the holding company or within any such subsidiary for
				monitoring and controlling financial and operating risks, and transactions with
				insured depository institution subsidiaries of the holding company;
									(iii)compliance by the industrial bank holding
				company and the holding company’s subsidiaries with all applicable Federal and
				State law; and
									(iv)such other
				information as the Corporation may require.
									(D)Acceptance of
				existing reportsFor purposes
				of this paragraph, the Corporation may accept reports that an industrial bank
				holding company or any subsidiary of such company has provided or has been
				required to provide to any other Federal or State supervisor or to any
				appropriate self-regulatory organization.
								(2)Examinations
								(A)In
				generalEach industrial bank holding company and each subsidiary
				of each such holding company (other than an industrial bank) shall be subject
				to such examinations by the Corporation as the Corporation may prescribe for
				purposes of this section.
								(B)Furnishing
				reports to other agenciesExamination and other reports made or
				received under this section may be furnished by the Corporation to any other
				appropriate Federal agency or any appropriate State bank supervisor or other
				State financial supervisory agency.
								(C)Use of reports
				from other agenciesThe
				Corporation may use, for the purposes of this subsection, reports of
				examination made by any other appropriate Federal agency, any appropriate State
				bank supervisor, or any other State financial supervisory authority with
				respect to any industrial bank holding company or subsidiary of any such
				holding company, to the extent the Corporation may determine such use to be
				feasible for such purposes.
								(3)Capital
								(A)In
				generalThe Corporation may
				not, by regulation, guideline, order, or otherwise, prescribe or impose any
				capital or capital adequacy rules, guidelines, standards, or requirements on
				any functionally regulated affiliate (as defined in section 45) of any
				depository institution that is controlled by an industrial bank holding company
				that—
									(i)is not a
				depository institution; and
									(ii)is—
										(I)in compliance with
				the applicable capital requirements of the appropriate Federal supervisory
				agency of the affiliate (including the Securities and Exchange Commission or
				State insurance authority);
										(II)properly
				registered as an investment adviser under the Investment Advisers Act of 1940,
				or with any State; or
										(III)is licensed as
				an insurance agent with the appropriate State insurance authority.
										(B)Rule of
				constructionSubparagraph (A)
				shall not be construed as preventing the Corporation from imposing capital or
				capital adequacy rules, guidelines, standards, or requirements with respect
				to—
									(i)activities of a
				registered investment adviser other than with respect to investment advisory
				activities or activities incidental to investment advisory activities; or
									(ii)activities of a
				licensed insurance agent other than insurance agency activities or activities
				incidental to insurance agency activities.
									(e)Access to
				information
							(1)Information
				provided by corporationAny
				confidential supervisory information, including examination or other reports,
				pertaining to an industrial bank furnished by the Corporation to any other
				Federal agency or any appropriate State supervisory agency shall remain
				confidential unless the Corporation, in writing, otherwise consents.
							(2)Deference to
				depository institution examinationsAny appropriate Federal supervisory agency
				of a holding company of an industrial bank shall, to the fullest extent
				possible, forego any examination of any depository institution subsidiary of
				the holding company and use the reports of examinations of the institution made
				by the appropriate Federal banking agency and the appropriate State bank
				supervisor in lieu of a direct examination.
							(3)Information to
				be provided to corporation
								(A)Request to
				agencyUpon request by the Corporation, an appropriate Federal
				supervisory agency may provide to the Corporation information regarding the
				condition of an industrial bank, any holding company that controls such
				industrial bank, or any other affiliate of any such holding company that is
				necessary to assess risk to the industrial bank.
								(B)Availability
				from holding company directlyNotwithstanding section 45, section
				115 of the Gramm-Leach-Bliley Act, or any other provision of law (including any
				regulation), if the information requested under subparagraph (A) is not
				provided to the Corporation, and the information is necessary to assess risk to
				the industrial bank, the Corporation may require the holding company or
				affiliate referred to in such subparagraph with respect to such bank to provide
				such information to the Corporation.
								(4)Examinations by
				corporation
								(A)in
				generalSubject to
				subparagraph (B) and notwithstanding section 45, section 115 of the
				Gramm-Leach-Bliley Act, or any other provision of law (including any
				regulation), no law shall be construed as preventing the Corporation from
				examining an affiliate of an industrial bank pursuant to paragraph (2), (3), or
				(4) of section 10(b), as may be necessary to disclose fully the relationship
				between the industrial bank and the affiliate, and the effect of such
				relationship on the industrial bank, if the Corporation finds such examination
				necessary to determine the condition of an industrial bank.
								(B)Functionally
				regulated affiliatesBefore the Corporation may examine any
				affiliate of an industrial bank that is—
									(i)a
				broker, a dealer, an investment company, or an investment advisor, or
									(ii)an entity that is subject to consolidated
				supervision by the Securities and Exchange Commission, other than a depository
				institution,
									the
				Corporation shall request the Commission to provide the information that the
				Corporation is seeking to obtain through examination and may proceed with the
				examination only if the requested information is not provided by the Commission
				in a timely manner.(f)Limitation on
				control
							(1)In
				generalExcept as provided in
				paragraph (3) or (4), no industrial bank may be controlled, directly or
				indirectly, by a commercial firm.
							(2)Commercial firm
				definedFor purposes of this section, the term commercial
				firm means any entity at least 15 percent of the annual gross revenues
				of which on a consolidated basis, including all affiliates of the entity, were
				derived from engaging, on an on-going basis, in activities that are not
				financial in nature or incidental to a financial activity during at least 3 of
				the prior 4 calendar quarters, as determined by the Corporation in accordance
				with regulations which the Corporation shall prescribe.
							(3)Pre-2003
				exclusions
								(A)Grandfathered
				institutionsParagraph (1)
				shall not apply with respect to any industrial bank—
									(i)which became an
				insured depository institution before October 1, 2003, or pursuant to an
				application for deposit insurance which was approved by the Corporation before
				such date; and
									(ii)with respect to which there is no change in
				control, directly or indirectly, of the bank after September 30, 2003, that
				requires a registration under this section or an application under section 7(j)
				or 18(c), section 3 of the Bank Holding Company
				Act of 1956, or section 10 of the Home Owners’ Loan Act, except a direct or
				indirect change of control in which—
										(I)immediately prior to such change in control
				neither the ultimate acquiring holding company nor the ultimate acquired
				holding company is a commercial firm;
										(II)immediately after such change of control
				the resulting ultimate holding company is not a commercial firm; and
										(III)the resulting ultimate holding company is
				subject to consolidated supervision by the Office of Thrift Supervision or a
				holding company regulated by the Securities and Exchange Commission pursuant to
				section
				240.15c3–1(a)(7) of title 17 of the Code of Federal Regulations
				(as in effect on January 29, 2007).
										(B)Corporate
				reorganizations permittedThe
				acquisition of direct or indirect control of the industrial bank referred to in
				subparagraph (A)(ii) shall not be treated as a change in control
				for purposes of such subparagraph if—
									(i)the company
				acquiring control is itself directly or indirectly controlled by a company that
				was an affiliate of such bank on the date referred to in such subparagraph, and
				remains an affiliate at all times after such date; and
									(ii)the transaction through which the company
				acquired control of the industrial bank constituted solely a corporate
				reorganization of a company that controlled the industrial bank on the date
				referred to in such subparagraph.
									(4)Pre-2007
				exclusions
								(A)Grandfathered
				commercial firmsParagraph (1) shall not apply to any commercial
				firm—
									(i)which became a holding company of an
				industrial bank by virtue of acquiring control of an industrial bank on or
				after October 1, 2003, and before January 29, 2007;
									(ii)which does not acquire control of any other
				depository institution after January 28, 2007;
									(iii)with respect to which there is no change in
				control, directly or indirectly, of any depository institution subsidiary after
				January 28, 2007, that requires a registration under this section or an
				application under section 7(j) or 18(c), section 3 of the
				Bank Holding Company Act of 1956, or
				section 10 of the Home Owners’ Loan
				Act; and
									(iv)each industrial
				bank subsidiary of which remains in compliance with the limitations contained
				in subparagraph (B).
									(B)Activity and
				branching limitationsAn
				industrial bank subsidiary of a commercial firm described in clauses (i), (ii)
				and (iii) of subparagraph (A) is in compliance with the requirements of this
				subparagraph for purposes of subparagraph (A)(iv) so long as the industrial
				bank—
									(i)engages only in activities in which the
				industrial bank was engaged on January 28, 2007; and
									(ii)does not acquire, establish, or operate any
				branch, deposit production office, loan production office, automated teller
				machine, or remote service unit in any State other than the home State of the
				bank or any host State in which such bank operated branches on January 28,
				2007.
									(C)Corporate
				reorganizations permittedThe acquisition of direct or indirect
				control of a depository institution subsidiary referred to in subparagraph
				(A)(iii) shall not be treated as a change in control for
				purposes of such subparagraph if—
									(i)the
				company acquiring control is itself directly or indirectly controlled by a
				company that was an affiliate of such subsidiary on the date referred to in
				such subparagraph, and remains an affiliate at all times after such date;
				and
									(ii)the transaction through which the company
				acquired control of the depository institution constituted solely a corporate
				reorganization of a company that controlled the depository institution on the
				date referred to in such subparagraph.
									(g)Procedures and
				timing for termination of activities or divestiture
							(1)Transition
				provision
								(A)In
				generalAny company that
				fails to comply with the provisions of subsection (f) shall divest its
				ownership or control of each industrial bank subsidiary of the company not
				later than the end of the 2-year period beginning on the first date that the
				company ceased to comply with subsection (f).
								(B)Extension of
				time period
									(i)In
				generalUpon application by a
				holding company that controls an industrial bank, the appropriate Federal
				supervisory agency of such holding company may extend the 2-year period
				referred to in subparagraph (A) with respect to such company for not more than
				1 year if, in such agency’s judgment, such an extension would not be
				detrimental to the public interest.
									(ii)FactorsIn making any decision to grant an
				extension under clause (i) to a holding company of an industrial bank, the
				appropriate Federal supervisory agent of such holding company shall consider
				whether—
										(I)the company has
				made a good faith effort to divest such interests; and
										(II)such extension is
				necessary to avert substantial loss to the company.
										(2)Conditions
				before divestitureDuring the
				2-year period referred to in paragraph (1)(A) with respect to any company and
				any extension of such period, the appropriate Federal supervisory agency may
				impose any conditions or restrictions on the company or any subsidiary of the
				company (other than a bank), including restricting or prohibiting transactions
				between the company or subsidiary and any depository institution subsidiary of
				the company, as are appropriate under the circumstances.
							(3)Termination of
				activities or divestiture of nonbank subsidiaries constituting serious
				risk
								(A)In
				generalNotwithstanding any
				other provision of this section, the appropriate Federal supervisory agency
				may, whenever such agency has reasonable cause to believe that the continuation
				by a holding company of an industrial bank of any activity or of ownership or
				control of any nonbank subsidiary of such holding company, other than a nonbank
				subsidiary of a depository institution, constitutes a serious risk to the
				financial safety, soundness, or stability of a depository institution
				subsidiary of the holding company and is inconsistent with sound banking
				principles or with the purposes of this section, at the election of the holding
				company—
									(i)order such holding company or any such
				nonbank subsidiary, after due notice and opportunity for hearing, and after
				considering the views of the appropriate Federal banking agency and, if
				applicable, appropriate State bank supervisor, to terminate such activities or
				to terminate (within 120 days or such longer period as the appropriate Federal
				supervisory agency may direct in unusual circumstances) the ownership or
				control by such holding company or nonbank subsidiary of any such depository
				institution subsidiary either by sale or by distribution of the shares of the
				depository institution subsidiary, in accordance with subparagraph (B), to the
				shareholders of the holding company of the industrial bank; or
									(ii)order the holding company of the industrial
				bank, after due notice and opportunity for hearing, and after consultation with
				the appropriate State bank supervisor for the industrial bank, to terminate
				(within 120 days or such longer period as the appropriate Federal supervisory
				agency may direct) the ownership or control of any such industrial bank by such
				company.
									(B)Pro rata
				distributionAny distribution
				to shareholders referred to in clause (i) shall be pro rata with respect to all
				of the shareholders of the distributing company, and such company shall not
				make any charge to any shareholder in connection with such distribution.
								(4)Foreign bank
				ownership
								(A)Industrial
				banksAfter January 28, 2007,
				no foreign bank may acquire, directly or indirectly, control of an industrial
				bank unless the Board of Governors of the Federal Reserve System has determined
				by order, or in the case of a foreign bank that is a savings and loan holding
				company the Board of Governors of the Federal Reserve System and the Director
				of Office of Thrift Supervision have jointly determined by order, in connection
				with the change in control or acquisition of the industrial bank and after
				consultation with the Corporation, that the foreign bank is subject to
				comprehensive supervision or regulation on a consolidated basis by the
				appropriate authorities in the bank’s home country in accordance with the
				standard in section 3(c)(3)(B) of the Bank Holding Company Act of 1956.
								(B)Conforming
				amendmentNotwithstanding any other provision of law, after the
				date of enactment of the Industrial Bank Holding Company Act of 2007, the
				Director of the Office of Thrift Supervision shall not approve any acquisition
				of a savings association under section 10(e)(2) of the Home Owners’ Loan Act by
				a foreign bank that is subject to the Bank Holding Company Act of 1956 pursuant
				to section 8(a) of the International Banking Act of 1978 and that is not a bank
				holding company unless the Director of the Office of Thrift Supervision and the
				Board of Governors of the Federal Reserve System have jointly determined, by
				order, in connection with the acquisition of the savings association that the
				foreign bank is subject to comprehensive supervision or regulation on a
				consolidated basis by the appropriate authorities in the bank’s home country in
				accordance with the standard in section 3(c)(3)(B) of the Bank Holding Company
				Act of 1956.
								(5)Holding company
				responsibility
								(A)Source of
				strengthNotwithstanding section 45, a holding company of an
				industrial bank—
									(i)shall serve as a
				source of financial and managerial strength to the subsidiary banks of such
				holding company; and
									(ii)shall not conduct
				the operations of the holding company in an unsafe or unsound manner.
									(B)ImplementationThe
				appropriate Federal supervisory agency of the holding company of an industrial
				bank shall implement the requirements under subparagraph (A).
								(h)Administrative
				provisions
							(1)Agent for
				service of processThe Corporation may require any industrial
				bank holding company, or persons connected with such holding company if it is
				not a corporation, to execute and file a prescribed form of irrevocable
				appointment of agent for service of process.
							(2)Release from
				registrationThe Corporation may at any time, upon the
				Corporation’s own motion or upon application, release a registered industrial
				bank holding company from any registration previously made by such company, if
				the Corporation determines that such company no longer controls any industrial
				bank.
							(i)DefinitionsFor
				purposes of this section, the following definitions shall apply:
							(1)Appropriate
				Federal supervisory agencyThe term appropriate Federal
				supervisory agency means, with respect to a company that controls an
				industrial bank—
								(A)the Corporation, in the case of a company
				that is an industrial bank holding company;
								(B)the Board of
				Governors of the Federal Reserve System, in the case of a company that is a
				bank holding company or that is subject to the Bank Holding Company Act of 1956
				pursuant to section 8(a) of the International Banking Act of 1978;
								(C)the Office of
				Thrift Supervision, in the case of a company that is a savings and loan holding
				company; and
								(D)the Securities and
				Exchange Commission, in the case of a company that is regulated by the
				Commission pursuant to
				section
				240.15c3–1(a)(7) of title 17 of the Code of Federal Regulations
				(as in effect on January 29, 2007).
								(2)Rule of
				constructionUnder the definition of the term appropriate
				Federal supervisory agency in paragraph (1), more than 1 agency may be
				an appropriate Federal supervisory agency with respect to any given company
				that controls an industrial
				bank.
							.
			(c)Enforcement
				(1)Section 8(b) of the
			 Federal Deposit Insurance Act (12 U.S.C. 1818(b)) is amended by
			 adding at the end the following new paragraph:

						(11)Industrial bank
				holding companiesThis
				subsection and subsections (c) through (s) and subsection (u) of this section
				shall apply to any industrial bank holding company, and to any subsidiary
				(other than a bank) of an industrial bank holding company in the same manner as
				such subsections apply to State nonmember insured
				banks.
						.
				(2)Section 8(h)(2) of the Federal Deposit
			 Insurance Act (12
			 U.S.C. 1818(h)(2)) is amended by striking (2) Any party
			 to and inserting (2) Any party aggrieved by an order of any
			 appropriate Federal supervisory agency under section 51 or any party
			 to.
				(3)Section 8(i) of
			 the Federal Deposit Insurance Act (12 U.S.C. 1818(i))
			 is amended by striking or 39 each place such term appears and
			 inserting , 39, or 51.
				(d)Prompt
			 corrective actionSection
			 38(f)(2)(H) of the Federal Deposit Insurance Act (12 U.S.C.
			 1831o(f)(2)(H)) is amended by—
				(1)by striking
			 bank holding
			 company.—Prohibiting any bank and inserting

						holding company.—(i)Bank holding
				companyProhibiting any
				bank
						;
				and
				(2)by adding at the
			 end the following new clause:

						(ii)Industrial bank
				holding companyProhibiting
				any industrial bank holding company having control of the insured depository
				institution from making any capital distribution without the prior approval of
				the
				Corporation.
						.
				(e)Technical and
			 conforming amendments
				(1)Section 10(e)(2)
			 of the Federal Deposit Insurance Act (12 U.S.C. 1820(e)(2)) is amended by
			 inserting or section 51 after subsection
			 (b)(4).
				(2)Section 1101(6) of the Right to Financial
			 Privacy Act of 1978 (12 U.S.C. 3401(6)) is
			 amended—
					(A)in subparagraph (B), by striking
			 and after the semicolon;
					(B)in subparagraph (C), by inserting
			 and after the semicolon; and
					(C)by inserting after
			 paragraph (C) the following new paragraph:

							(D)any industrial
				bank holding company (as defined in section 3(w)(8) of the Federal Deposit
				Insurance
				Act);
							.
					(3)Section 115 of the
			 Gramm-Leach-Bliley Act (12 U.S.C. 1820a) is
			 amended—
					(A)in subsection (a),
			 by striking or after bank holding company and
			 inserting , industrial bank holding company, or;
					(B)in subsection
			 (d)—
						(i)by
			 redesignating paragraphs (5), (6), and (7) as paragraphs (6), (7), and (8),
			 respectively; and
						(ii)by
			 inserting after paragraph (4) the following new paragraph:

								(5)Industrial bank
				holding companyThe term industrial bank holding
				company has the same meaning as in section 3(w)(8) of the Federal
				Deposit Insurance
				Act.
								.
						(4)Section 304(g)(1) of the Home Mortgage
			 Disclosure Act of 1975 (12 U.S.C. 2803(g)(1)) is amended by
			 inserting , industrial bank holding company, after bank
			 holding company.
				3.RegulationsThe Corporation shall prescribe such
			 regulations as the Corporation determines to be appropriate to carry out the
			 amendments made by this Act.

			Passed the House of
			 Representatives May 21, 2007.
			Lorraine C. Miller,
			Clerk.