		II
		110th CONGRESS
		1st Session
		S. 1967
		IN THE SENATE OF THE UNITED
		  STATES

			August 2, 2007
			Mrs. Clinton (for herself and
			 Mr. Smith) introduced the following bill;
			 which was read twice and referred to the Committee on Finance

		A BILL
		To provide administrative ease and
		  incentives for increased saving by Americans, and for other
		  purposes.

		1.Short title; table of contents
			(a)Short titleThis Act may be cited as the
			 New Savers
			 Act.
			(b)Table of contentsThe table of contents for this Act is as
			 follows:

					Sec. 1. Short title;
				table of contents.
					Sec. 2. Findings.
					TITLE I—Savings and financial education at tax filing
				time
					Sec. 101. Opening of accounts on tax returns to facilitate
				savings.
					Sec. 102. Purchase of United States savings bonds on tax
				returns.
					Sec. 103. Return preparation clinics for low-income
				taxpayers.
					Sec. 104. Savings as a national performance goal.
					TITLE II—Access to wealth building financial services
					Sec. 201. Electronic transfer accounts.
					Sec. 202. Benefit cards and bank services.
					Sec. 203. Expansion of accessible and suitable financial
				services.
					TITLE III—Children's savings accounts
					Sec. 301. Young Savers Accounts.
					TITLE IV—Expansion of the saver's credit
					Sec. 401. Credit for contributions to qualified tuition
				programs and Coverdell education savings accounts.
					TITLE V—United States savings bonds
					Sec. 501. Savings bond marketing and access.
					Sec. 502. Tax credit to expand payroll savings
				plan.
					TITLE VI—Qualified tuition programs
					Sec. 601. Reporting of fee information.
					Sec. 602. Annual report of performance and
				participation.
					Sec. 603. Grant program to support State innovation in
				increasing participation in qualified tuition programs.

			2.FindingsCongress finds the following:
			(1)The personal savings rate was negative in
			 2005 and 2006 according to the Department of Commerce, meaning that combined
			 spending outstripped disposable income for the first time since the Great
			 Depression.
			(2)According to the Federal Reserve’s 2004
			 Survey of Consumer Finances, 17 percent of all households had zero or negative
			 net worth, while 30 percent had net worth of less than $10,000.
			(3)Thirty-eight percent of all households are
			 in a state of asset poverty, in that such households lack liquid financial
			 resources to support their families for 3 months at the poverty level.
			(4)According to the Federal Reserve's 2004
			 Survey of Consumer Finances, 11 percent of households do not have a checking
			 account and 9 percent do not have a transaction account of any kind.
			(5)Tuition and fees at 4-year public
			 universities have increased 57 percent since 2000 according to the College
			 Board, while the relative earnings power of those that receive post-secondary
			 education has continued to grow over the past 25 years.
			(6)According to the Center for Social
			 Development, the presence of savings and even small asset holdings by a
			 household is associated with a range of positive outcomes, including increased
			 economic stability, educational attainment and performance, and health and
			 psychological well-being.
			(7)Increasing the number of households that
			 save and the amounts that such households save will allow more Americans to
			 achieve greater control, security, independence, and choice in their
			 lives.
			ISavings and financial education at tax
			 filing time
			101.Opening of accounts on tax returns to
			 facilitate savings
				(a)Notification of option
					(1)In generalThe Commissioner of Internal Revenue shall
			 notify individual taxpayers who qualify for a Federal income tax refund but
			 fail to provide an ACH direct deposit number on their return that they have the
			 option of an electronic deposit to a designated account.
					(2)Method of notificationThe notification under paragraph (1) shall
			 be made through—
						(A)a public awareness program undertaken by
			 the Secretary of the Treasury, in concert with the Commissioner of the Internal
			 Revenue and others as necessary, at least 6 months before January 2009,
			 and
						(B)the inclusion of such a notice in the
			 instruction material for any Federal income tax return.
						(b)Establishment of designated account
			 programThe Secretary of the
			 Treasury shall develop, in consultation with the Federal Management System, a
			 program to minimize the delivery of non-electronic Federal income tax refunds
			 by depositing refunds electronically to an account held by a depository
			 institution. This program shall include:
					(1)Provisions for such tax refunds to be
			 deposited into a designated account.
					(2)Establishment of account parameters with
			 respect to minimum balance requirements and limitations on overdrafts,
			 overdraft fees, and other requirements.
					(3)Establishment of means for the taxpayer to
			 access the account electronically or through a payment card.
					(4)Provisions to allow taxpayers to open an
			 account with their Federal income tax refunds through financial service
			 providers, so long such account is held at a depository institution that is
			 insured under the Federal Deposit Insurance Act (12 U.S.C. 1811 et
			 seq.).
					(c)Effective
			 dateThe notification under
			 subsection (a) and the program under subsection (b) shall be effective with
			 respect to tax returns for taxable years beginning after December 31,
			 2008.
				102.Purchase of United States savings bonds on
			 tax returns
				(a)Notice of optionThe Commissioner of Internal Revenue shall
			 notify individual taxpayers that they have the option of purchasing United
			 States savings bonds when they file their Federal income tax returns. Such
			 notification shall be included in the instruction material for any Federal
			 income tax return.
				(b)Establishment of savings bond purchase
			 program
					(1)In generalThe Secretary of the Treasury shall
			 develop, in consultation with a task force, a program for the purchase by
			 individual taxpayers of United States savings bonds on their Federal income tax
			 returns.
					(2)Task forceThe task force described in paragraph (1)
			 shall be appointed by the Secretary of the Treasury from representatives from
			 the Internal Revenue Service and the Bureau of the Public Debt.
					(3)Report by task force
						(A)In generalThe task force described in paragraph (1)
			 shall issue a report and recommendations for implementation of such program to
			 the Secretary of the Treasury not later than March 31, 2008.
						(B)Contents of reportThe report required under subparagraph (A)
			 shall include a consideration of the following items:
							(i)Coordination with split Federal income tax
			 refund process.
							(ii)Integration with the Treasury Direct United
			 States savings bond purchase system as well as other methods of purchasing
			 bonds that do not require the purchaser to have access to the Internet.
							(iii)Purchase of United States savings bonds
			 with co-owners.
							(iv)How such purchase affects refunds, credits,
			 and tax liabilities.
							(v)Selection of amount and savings bond
			 series.
							(vi)Options to encourage repeat bond purchases
			 in successive tax seasons by tax refund recipients, including possible
			 notification to prior purchasers of the opportunity to purchase additional
			 bonds with future tax refunds.
							(vii)Coordination with the designated account
			 program under section 101(b).
							(c)Effective
			 dateThe notification under
			 subsection (a) and the program under subsection (b) shall be effective with
			 respect to tax returns for taxable years beginning after December 31,
			 2008.
				103.Return preparation clinics for low-income
			 taxpayers
				(a)Grants for return preparation
			 clinics
					(1)In generalChapter 77 of the Internal Revenue Code of
			 1986 (relating to miscellaneous provisions) is amended by inserting after
			 section 7526 the following new section:

							7526A.Return preparation clinics for low-income
				taxpayers
								(a)In generalThe Secretary may, subject to the
				availability of appropriated funds, make grants to provide matching funds for
				the development, expansion, or continuation of qualified return preparation
				clinics.
								(b)DefinitionsFor purposes of this section—
									(1)Qualified return preparation
				clinic
										(A)In generalThe term qualified return preparation
				clinic means a clinic which—
											(i)does not charge more than a nominal fee for
				its services (except for reimbursement of actual costs incurred), and
											(ii)operates programs which assist low-income
				taxpayers, including individuals for whom English is a second language, in
				preparing and filing their Federal income tax returns, including schedules
				reporting sole proprietorship or farm income.
											(B)Assistance to low-income
				taxpayersA clinic is treated
				as assisting low-income taxpayers under subparagraph (A)(ii) if at least 90
				percent of the taxpayers assisted by the clinic have incomes which do not
				exceed 250 percent of the poverty level, as determined in accordance with
				criteria established by the Director of the Office of Management and
				Budget.
										(2)ClinicThe term clinic
				includes—
										(A)a clinical program at an eligible
				educational institution (as defined in section 529(e)(5)) which satisfies the
				requirements of paragraph (1) through student assistance of taxpayers in return
				preparation and filing, and
										(B)an organization described in section 501(c)
				and exempt from tax under section 501(a) which satisfies the requirements of
				paragraph (1).
										(c)Special rules and limitations
									(1)Aggregate limitationUnless otherwise provided by specific
				appropriation, the Secretary shall not allocate more than $25,000,000 per year
				(exclusive of costs of administering the program) to grants under this
				section.
									(2)Other applicable rulesRules similar to the rules under paragraphs
				(2) through (7) of section 7526(c) shall apply with respect to the awarding of
				grants to qualified return preparation
				clinics.
									.
					(2)Clerical amendmentThe table of sections for chapter 77 of
			 such Code is amended by inserting after the item relating to section 7526 the
			 following new item:

								Sec. 7526A. Return preparation
				clinics for low-income
				taxpayers.

							.
					(b)Grants for taxpayer representation and
			 assistance clinics
					(1)Increase in authorized grantsSection 7526(c)(1) of the Internal Revenue
			 Code of 1986 (relating to aggregate limitation) is amended by striking
			 $6,000,000 and inserting $25,000,000.
					(2)Promotion of clinicsSection 7526(c) of such Code is amended by
			 adding at the end the following new paragraph:

							(6)Promotion of clinicsThe Secretary is authorized to promote the
				benefits of and encourage the use of low-income taxpayer clinics through the
				use of mass communications, referrals, and other
				means.
							.
					(3)Clerical amendmentSection 7526(c)(5) of such Code is amended
			 by inserting qualified before low-income.
					(c)Effective
			 dateThe amendments made by
			 this section shall apply to grants made after the date of the enactment of this
			 Act.
				104.Savings as a national performance
			 goal
				(a)Establishment of performance
			 measures
					(1)In generalThe Secretary of the Treasury shall
			 establish performance measures that evaluate the extent to which Americans save
			 and use the Federal tax filing process to facilitate their savings
			 activities.
					(2)Elements of performance
			 measuresThe performance
			 measures described in paragraph (1) shall include:
						(A)The percentage of Federal income tax
			 refunds returned electronically by direct deposit to tax filers’ bank
			 accounts.
						(B)The percentage of Federal tax filers that
			 deposit into savings products, such as traditional savings accounts, individual
			 retirement accounts, section 529 college savings plans, and others, as a part
			 of the tax filing process.
						(b)Establishment of outcome
			 goalsThe Secretary of the
			 Treasury, using the performance measures described in subsection (a) shall
			 identify outcome goals that focus on increasing the United States personal
			 savings rate.
				(c)Annual
			 reportsThe Secretary of the
			 Treasury shall report to Congress on the performance measures and outcomes
			 goals in the Secretary’s annual performance report.
				IIAccess to wealth building financial
			 services
			201.Electronic transfer accounts
				(a)In generalThe Secretary of the Treasury is authorized
			 to use such fiscal agent authority as in effect on the date of the enactment of
			 this Act to increase payments to financial institutions in order to offset
			 costs of opening electronic transfer accounts authorized under the Debt
			 Collection Improvement Act of 1996.
				(b)Use of accountsThe Secretary of the Treasury shall ensure
			 that recipients of Federal income tax refunds shall be eligible to use
			 electronic transfer accounts with respect to such refunds.
				(c)Study To increase use of electronic
			 transfer accounts and electronic payments
					(1)In generalThe Secretary of the Treasury shall convene
			 a working group comprised of Department of the Treasury officers to explore
			 policy options to increase the use and utility of electronic payments,
			 including electronic transfer accounts. Such group shall consider the size of
			 the subsidy under subsection (a), limitations in the marketing of electronic
			 transfer accounts, and alternative products (with attention to useful product
			 features), risk management factors, and pricing.
					(2)ReportThe Secretary of the Treasury shall report
			 to Congress on the results of the study under paragraph (1) not later than
			 March 31, 2008. Such report shall include recommendations to improve the use of
			 electronic transfer accounts and the electronic delivery of payments,
			 generally, solicited from the financial services industry, consumers, and other
			 groups.
					202.Benefit cards and bank services
				(a)In generalThe Secretary of Health and Human Services
			 shall establish a performance measure for the percentage of each State’s
			 benefit recipients that receive their benefits by direct deposit into accounts
			 held at depository institutions insured under the Federal Deposit Insurance Act
			 (12 U.S.C. 1811 et seq.).
				(b)Specific target
					(1)In generalThe Secretary of Health and Human Services
			 shall establish a performance target for fiscal year 2010 that increases the
			 baseline measure determined using the performance measure developed under
			 subsection (a) by 10 percent.
					(2)IncentiveThe Secretary of Health and Human Services
			 shall allow individual States that meet the benchmark target on bank accounts
			 opened under paragraph (1) to use such attainment to qualify for bonus awards
			 under title IV of the Social Security Act.
					(c)Use of benefit cards To promote
			 savingsThe Secretary of
			 Health and Human Services shall seek to identify and promote innovative uses of
			 benefit cards to promote savings among benefit recipients.
				203.Expansion of accessible and suitable
			 financial services
				(a)Establishment of programThe Secretary of the Treasury shall
			 establish a program to support and promote—
					(1)the expansion of access to financial
			 services, in particular for persons without bank accounts, with low access to
			 financial services, or low utilization of mainstream financial services,
					(2)the development of new financial products
			 and services that are adequate to improve access to wealth building financial
			 services which help integrate more Americans into the financial
			 mainstream,
					(3)education for these persons and depository
			 institutions concerning the availability and use of financial services for and
			 by such persons, and
					(4)such other activities and projects as the
			 Secretary may determine are consistent with the purpose of this section.
					(b)Powers and authority of Secretary
					(1)In generalIn carrying out the program, the Secretary
			 of the Treasury may award grants, enter into cooperative agreements and
			 contracts, and designate depository institutions, nonbank financial service
			 providers, and others as financial agents of the Treasury, in order to provide
			 for technical assistance, education, training, or financial services to further
			 the purpose of this section.
					(2)Specific powersThe powers of the Secretary of the Treasury
			 under this section shall include the following:
						(A)Financial servicesThe Secretary of the Treasury may promote
			 access to financial services by providing financial and technical assistance to
			 depository institutions and other organizations for providing reasonably-priced
			 financial services, including—
							(i)electronic transaction accounts,
							(ii)savings accounts,
							(iii)pre-paid products, and
							(iv)other financial services deemed appropriate
			 by the Secretary to meet the needs of service areas or service
			 populations.
							(B)DistributionThe Secretary of the Treasury may promote
			 access to financial services by providing financial and technical assistance to
			 depository institutions, nonbank financial service providers, financial
			 services electronic networks, or community partners for expanding the
			 distribution of financial services to service areas or service populations,
			 including through financial services electronic networks.
						(C)EducationThe Secretary of the Treasury may promote
			 access to financial services by—
							(i)providing financial education to service
			 areas or service populations,
							(ii)providing technical assistance or training
			 to or by depository institutions, nonbank financial service providers, or
			 community partners,
							(iii)providing financial support for
			 organizations to develop innovative financial services and products, and
							(iv)otherwise promoting financial services to
			 or by service areas, service populations, depository institutions, nonbank
			 financial service providers, or community partners.
							(D)Research and developmentThe Secretary of the Treasury may conduct
			 or support such research and development as the Secretary considers appropriate
			 in order to further the purpose of this section, including the collection of
			 information about access to financial services.
						(3)Selection criteriaIn selecting any depository institution,
			 nonbank financial service provider, community partner, financial services
			 electronic network, or organization providing technical assistance to financial
			 institutions as a recipient of a grant or other assistance under this section,
			 the Secretary of the Treasury shall consider—
						(A)the likelihood of success of such
			 institution, nonbank financial service provider, community partner, network, or
			 organization in achieving the purpose of the grant or assistance and carrying
			 out the purpose of this Act,
						(B)the experience of such institution, nonbank
			 financial service provider, community partner, network, or organization in
			 undertaking activities similar to the activities to be funded or supported by
			 the proceeds of the grant or other assistance, and
						(C)such other factors, including management,
			 performance criteria, and the extent of innovation as the Secretary may
			 determine to be appropriate.
						(4)ReportsNot later than 2 years after the date of
			 enactment of this Act, and annually thereafter, the Secretary of the Treasury
			 shall submit to Congress a report containing—
						(A)a detailed description of the operation of
			 the program,
						(B)the findings and conclusions of the
			 Secretary on the extent to which the program established is meeting the purpose
			 of this section and the goals of the Secretary in establishing the program,
			 and
						(C)such recommendations for legislative or
			 administrative action as the Secretary may consider to be appropriate.
						(5)Authorization of appropriations
						(A)In generalTo carry out this section, there are
			 authorized to be appropriated to the Secretary of the Treasury, to remain
			 available until expended—
							(i)$50,000,000 for fiscal year 2008,
			 and
							(ii)such sums as may be necessary for each of
			 fiscal years 2008 through 2013.
							(B)Administrative expenses
							(i)In generalOf amounts appropriated to the Secretary of
			 the Treasury under this section, not more than $5,000,000 may be used in any
			 fiscal year to pay the administrative costs and expenses of the program
			 established.
							(ii)Exclusion of certain costsCosts associated with research and
			 development, training, technical assistance, and education shall not be
			 considered to be administrative expenses for purposes of this
			 subparagraph.
							IIIChildren's savings accounts
			301.Young Savers Accounts
				(a)Establishment
					(1)In generalSection 408A of the Internal Revenue Code
			 of 1986 (relating to Roth IRAs) is amended by adding at the end the following
			 new subsection:

							(g)Young Savers Accounts
								(1)In generalExcept as provided in this subsection, a
				young savers account shall be treated in the same manner as a Roth IRA.
								(2)Young savers accountFor purposes of this subsection, the term
				young savers account means, with respect to any taxable year, a
				Roth IRA that is established and maintained on behalf of an individual who has
				not attained the age of 21 before the close of the taxable year.
								(3)Contribution limitsIn the case of any contributions for any
				taxable year to 1 or more young savers accounts established and maintained on
				behalf of an individual, each of the following contribution limits for the
				taxable year shall be increased as follows:
									(A)The contribution limit applicable to the
				individual under subsection (c)(2) shall be increased by the aggregate amount
				of qualified parental contributions to such accounts for the taxable
				year.
									(B)The contribution limits applicable to the
				young savers accounts under subsection (a)(1) or (b)(2)(B) of section 408,
				whichever is appropriate, shall be increased by the dollar amount in effect
				under section 219(b)(1)(A) for the taxable year.
									(4)Qualified parental
				contributionsFor purposes of
				this subsection—
									(A)In generalThe term qualified parental
				contribution means, with respect to any taxable year, a contribution by
				an individual to a young savers account established and maintained on behalf of
				an individual who—
										(i)is the child of the individual making the
				contribution, and
										(ii)with respect to whom a deduction for an
				additional exemption is allowable for the taxable year under section 151(c) to
				the individual making the contribution.
										(B)Dollar limitations
										(i)In generalThe aggregate amount of qualified parental
				contributions which may be made for any taxable year on behalf of an individual
				shall not exceed the dollar amount in effect under section 219(b)(1)(A) for the
				taxable year.
										(ii)Limit on each parentThe aggregate amount of qualified parental
				contributions which an individual may make for any taxable year on behalf of 1
				or more of the individual's children shall not exceed the contribution limit
				applicable to the individual under subsection (c)(2) for the taxable year,
				reduced by any contributions made by or on behalf of the individual to any Roth
				IRA established and maintained on behalf of the individual.
										(5)Coordination with matching credit for
				retirement savings contributionsAny qualified parental contributions made
				by an eligible individual (as defined in section 36(d)) shall be treated as
				qualified retirement savings contributions for purposes of section
				36.
								.
					(2)Effective
			 dateThe amendment made by
			 this subsection shall apply to taxable years beginning after December 31,
			 2007.
					(b)Account funds disregarded for purposes of
			 all means-tested Federal programsNotwithstanding any other provision of
			 Federal law, assets accumulated in young savers accounts shall not be taken
			 into account in determining any individual’s or household’s financial
			 eligibility for, or amount of, any benefit or service, paid for in whole or in
			 part with Federal funds, including student financial aid.
				IVExpansion of the saver's credit
			401.Credit for contributions to qualified
			 tuition programs and Coverdell education savings accounts
				(a)In generalParagraph (1) of section 25B(d) of the
			 Internal Revenue Code of 1986 (relating to qualified retirement savings
			 contributions) is amended by striking and at the end of
			 subparagraph (B)(ii), by striking the period at the end of subparagraph (C),
			 and by inserting after subparagraph (C) the following new subparagraphs:

						(D)the amount of purchases or contributions
				made by such individual to a qualified tuition program (as defined under
				section 529(b)), and
						(E)the amount of contributions made by such
				individual to a Coverdell education savings account (as defined under section
				530(b)).
						.
				(b)Conforming amendmentSubclause (i) of section 25B(d)(2)(C) of
			 such Code (relating to excepted distributions) is amended by striking or
			 408(d)(4) and inserting 408(d)(4), 529(c), or
			 530(d).
				(c)Effective
			 dateThe amendments made by
			 this section shall apply to taxable years beginning after December 31,
			 2007.
				VUnited States savings bonds
			501.Savings bond marketing and access
				(a)Advisory
			 boardThe Secretary of the
			 Treasury shall convene a Federal advisory board to explore ways to expand
			 access to United States savings bonds in a cost effective manner. The advisory
			 board shall make recommendations to make United States savings bonds more
			 useful for purchasers of low denomination bonds. The advisory board shall
			 consider, among other things, whether the savings bond holding period can be
			 shortened, whether and how the policy for redemption of savings bonds before
			 the 1-year minimum holding period under certain emergency situations can be
			 clarified or expanded, whether additional outlets can be used to sell savings
			 bonds (including retail stores, post offices, schools, and other nonprofit
			 organizations), whether the electronic purchase system can be amended, and in
			 what manner the purchase of paper bonds can be amended.
				(b)ReportThe Secretary of the Treasury shall submit
			 the findings of the advisory board under subsection (a) in a report to Congress
			 within 180 days after the date of the enactment of this Act.
				(c)Authorization of
			 appropriationsThere is
			 authorized to be appropriated $35,000,000 to the Bureau of the Public Debt to
			 market United States savings bonds, especially for small savers.
				502.Tax credit to expand payroll savings
			 plan
				(a)In generalSubpart D of part IV of subchapter A of
			 chapter 1 of the Internal Revenue Code of 1986 (relating to business related
			 credits) is amended by adding at the end the following new section:

						45O.Payroll savings plan tax credit
							(a)Amount of creditFor purposes of section 38, the payroll
				savings plan credit determined under this section with respect to each employee
				of the taxpayer for any taxable year is an amount equal to 1 percent of the
				first $500 of expenditures in each month during such taxable year by the
				eligible employee for United States savings bonds under the taxpayer's payroll
				savings plan within the Bureau of the Public Debt’s payroll savings plan
				program.
							(b)Additional credit for automatic
				purchasesThe Secretary
				through TreasuryDirect shall establish a method whereby unused amounts
				resulting from payroll deductions at the end of a 12-month period are
				automatically used to purchase a savings bond in the accountholder’s name. The
				credit under subsection (a) for the employer of the accountholder shall be
				increased by the value of the purchased bond.
							(c)TerminationThis section shall not apply to taxable
				years beginning more than 10 years after the date of the enactment of this
				section.
							.
				(b)Credit made part of general business
			 creditSection 38(b) of the
			 Internal Revenue Code of 1986 is amended by striking and at the
			 end of paragraph (30), by striking the period at the end of paragraph (31) and
			 inserting , plus, and by adding at the end the following new
			 paragraph:

						(32)the payroll savings plan credit determined
				under section
				45O(a).
						.
				(c)Clerical amendmentThe table of sections for subpart D of part
			 IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended
			 by adding at the end the following new item:

							Sec. 45O. Payroll savings plan
				tax
				credit.

						.
				VIQualified tuition programs
			601.Reporting of fee information
				(a)Reporting
					(1)In generalSubpart A of part III of subchapter A of
			 chapter 61 of the Internal Revenue Code of 1986 (relating to information
			 concerning persons subject to special provisions) is amended by inserting after
			 section 6039I the following new section:

							6039J.Information with respect to qualified
				tuition programs
								(a)In generalEach person managing a qualified tuition
				program (as defined by section 529) shall make a return for each taxable year
				containing—
									(1)the name and address of such person;
									(2)information with respect to any guarantee
				offered under the program;
									(3)information with respect to any risk
				factors associated with investments under the program;
									(4)information with respect to the performance
				of investments of the program;
									(5)information with respect to any generally
				applicable fees and costs for the program over 1, 5, and 10-year
				periods;
									(6)information with respect to any initial and
				on-going fees and with respect to the total fees and costs associated with
				particular investment under the program, including a fee table listing fees and
				expenses for—
										(A)annual asset-based fees (including any
				estimated underlying fund expenses, any program manager fee, any State fee, and
				any annual distribution fee);
										(B)additional investor expenses (including
				maximum deferred sales charges and annual account maintenance fees);
										(C)sales charges;
										(D)application fees;
										(E)cancellation fees;
										(F)fees for changing beneficiaries;
										(G)fees for changing investment options;
				and
										(H)any other fees or expenses;
										(7)information with respect to the basis for
				determining the amount of any such fees; and
									(8)a description of the tax treatment of
				contributions, investments, and distributions under the program under relevant
				State law.
									(b)Form and mannerThe return required under subsection (a)
				shall be in such form and manner as the Secretary may
				require.
								.
					(2)Clerical amendmentThe table of sections for subpart A of part
			 III of subchapter A of chapter 61 of such Code is amended by inserting after
			 the item relating to section 6039I the following new item:

								Sec. 6039J. Information with respect to qualified tuition
				programs.

							.
					(b)Dissemination of information
					(1)In generalThe Secretary of Treasury shall make
			 available to the public—
						(A)the information collected under section
			 6039J of the Internal Revenue Code of 1986 in a manner that allows comparison
			 between different qualified tuition programs (as defined by section 529 of the
			 Internal Revenue Code of 1986); and
						(B)information regarding the tax treatment of
			 contributions, investments, and distributions under qualified tuition programs
			 under such Code.
						(2)Conforming amendmentSubsection (b) of section 6104 of the
			 Internal Revenue Code of 1986 is amended by inserting 6039J,
			 after 6034,.
					(c)Effective
			 dateThe amendments made by
			 this section shall apply to taxable years beginning after the date of the
			 enactment of this Act.
				602.Annual report of performance and
			 participation
				(a)In generalEach year, the Secretary of the Treasury or
			 his designee shall publish a report on the use of qualified tuition programs in
			 assisting taxpayers in paying tuition and other education costs at colleges and
			 universities.
				(b)ContentsThe report under subsection (a) shall
			 include—
					(1)an assessment of the performance of
			 qualified tuition programs;
					(2)an analysis of which taxpayers are
			 participating in such programs—
						(A)on a regional basis;
						(B)by income level; and
						(C)by level of educational attainment;
			 and
						(3)a description of tax benefits provided by
			 States in connection with such programs.
					(c)Consultation with program
			 administratorsThe Secretary
			 or his designee shall consult with the administrators of qualified tuition
			 programs to obtain such information as necessary for the report under
			 subsection (a).
				(d)Qualified tuition programFor purposes of this section, the term
			 qualified tuition program has the meaning given such term under
			 section 529(b) of the Internal Revenue Code of 1986.
				603.Grant program to support State innovation
			 in increasing participation in qualified tuition programs
				(a)In generalThe Secretary of the Treasury is authorized
			 to provided grants to States for the purpose of increasing the participation in
			 qualified tuition programs of—
					(1)moderate-income and low-income families;
			 and
					(2)other families that may face additional
			 barriers to accessing and utilizing post-secondary education.
					(b)Use of fundsGrants awarded pursuant to subsection (a)
			 may be used—
					(1)to provide information to taxpayers
			 described in paragraph (1) and (2) of subsection (a) about the availability and
			 use of qualified tuition programs;
					(2)to reduce fees for such taxpayers under
			 qualified tuition programs; and
					(3)in any other manner which the Secretary
			 determines is consistent with the purpose of this section.
					(c)Qualified tuition programFor purposes of this section, the term
			 qualified tuition program has the meaning given such term under
			 section 529(b) of the Internal Revenue Code of 1986.
				(d)Authorization of
			 appropriationsThere are
			 authorized to be appropriated $50,000,000 for fiscal year 2007 and each
			 subsequent fiscal year to carry out the provisions of this section.


114 HRES 853 IH: Authorizing the Speaker of the House of Representatives to initiate or intervene in a civil action regarding the compliance of the executive branch with the provision of law prohibiting relinquishment of the responsibility of the National Telecommunications and Information Administration with respect to Internet domain name system functions.
U.S. House of Representatives
2016-09-08
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.

IV114th CONGRESS2d SessionH. RES. 853IN THE HOUSE OF REPRESENTATIVESSeptember 8, 2016Mr. Kelly of Pennsylvania submitted the following resolution; which was referred to the Committee on Rules, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such
			 provisions as fall within the jurisdiction of the committee concernedRESOLUTIONAuthorizing the Speaker of the House of Representatives to initiate or intervene in a civil action
			 regarding the compliance of the executive branch with the provision of law
			 prohibiting relinquishment of the responsibility of the National
			 Telecommunications and Information Administration with respect to Internet
			 domain name system functions.

 Whereas Lawrence E. Strickling, the Assistant Secretary of Commerce for Communications and Information and Administrator of the National Telecommunications and Information Administration (NTIA), announced on August 16, 2016, that NTIA will allow the contract between the United States Government and the Internet Corporation for Assigned Names and Numbers (ICANN) to lapse by September 30, 2016;
 Whereas NTIA’s decision necessarily used appropriated funds through payment of the salaries of NTIA staff whose time was used to make the decision and other expenditures for evaluating ICANN’s proposed reforms, in violation of section 539 of the Commerce, Justice, Science, and Related Agencies Appropriations Act, 2016 (Public Law 114–113; 129 Stat. 2332);
 Whereas NTIA’s decision was made before the Government Accountability Office answered the question asked of it by Congress regarding whether the Internet Assigned Numbers Authority (IANA) functions are a Government asset, the transfer of which requires congressional authorization under clause 2 of section 3 of article IV of the Constitution of the United States (commonly known as the Property Clause); and
 Whereas NTIA’s decision, in light of the foregoing, raises serious constitutional concerns regarding the separation of powers and the rule of law: Now, therefore, be it

		1.Authorization of civil action regarding compliance of executive branch with law prohibiting
			 relinquishment of responsibility of National Telecommunications and
			 Information Administration with respect to Internet domain name system
 functionsThe Speaker of the House of Representatives is authorized to initiate or intervene in one or more civil actions on behalf of the House in a Federal court of competent jurisdiction to seek any appropriate relief regarding the failure of the President, the head of any department or agency, or any other officer or employee of the executive branch to act in a manner consistent with that official's duties under the Constitution and laws of the United States with respect to the implementation of section 539 of the Commerce, Justice, Science, and Related Agencies Appropriations Act, 2016 (Public Law 114–113; 129 Stat. 2332) or any other related provision of law, including a failure to implement such section or any such provision.
 2.NotificationThe Speaker shall notify the House of Representatives of any decision to initiate or intervene in any civil action pursuant to this resolution.
		3.Process for civil action
 (a)Representation by General CounselThe Office of the General Counsel of the House of Representatives, at the direction of the Speaker, shall represent the House in any civil action initiated, or in which the House intervenes, pursuant to this resolution and may employ the services of outside counsel and other experts for this purpose.
 (b)Statement of costs of outside counsel and expertsNot later than 30 days after the expiration of each calendar quarter, the chair of the Committee on House Administration shall cause to be printed in the Congressional Record a statement setting forth the aggregate amounts expended by the Office of General Counsel on outside counsel and other experts pursuant to subsection (a) during that quarter.


117 HR 3377 IH: Gigabit Opportunity Act
U.S. House of Representatives
2021-05-20
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
117th CONGRESS1st Session
H. R. 3377
IN THE HOUSE OF REPRESENTATIVES

May 20, 2021
Mrs. Cammack (for herself, Ms. Letlow, Mr. Banks, Ms. Herrell, Mr. Moolenaar, Mr. LaMalfa, Mr. Meuser, Mr. Cawthorn, Mr. Steube, Mr. Bost, Mr. Kustoff, Mrs. Miller of Illinois, Mr. Wittman, Mr. Jackson, Ms. Tenney, Mr. Rodney Davis of Illinois, Mr. Rouzer, Mr. Owens, Mr. C. Scott Franklin of Florida, Mr. Gooden of Texas, Mr. Austin Scott of Georgia, Mr. Davidson, Mr. Tiffany, Mr. Valadao, Mr. Cline, Mrs. Fischbach, Ms. Stefanik, Mr. Diaz-Balart, Mr. LaTurner, Mr. Westerman, and Mr. Donalds) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL
To amend the Internal Revenue Code of 1986 to provide tax benefits for investments in gigabit opportunity zones.

1.Short titleThis Act may be cited as the Gigabit Opportunity Act. 2.Gigabit Opportunity Zones (a)In generalChapter 1 of the Internal Revenue Code of 1986 is amended by inserting after subchapter V the following new subchapter:

WGigabit Opportunity Zones

Sec. 1400W–1. Designation.
Sec. 1400W–2. Deferral for eligible taxpayer of capital gains invested in gigabit opportunity zones.
Sec. 1400W–3. Immediate expensing of qualified gigabit opportunity zone business property.
1400W–1.Designation
(a)Qualified gigabit opportunity zone definedFor the purposes of this subchapter, the term qualified gigabit opportunity zone means a population census tract that is a low-income community— (1)which does not have fixed terrestrial broadband service that meets the current speed benchmark for fixed services (as determined by the Federal Communications Commission in its most recent report issued pursuant to section 706 of the Telecommunications Act of 1996 (47 U.S.C. 1302)),
(2)which is located in a jurisdiction— (A)that has been certified by the Secretary, in consultation with the National Telecommunications and Information Administration, as having adopted the Uniform Model Broadband Deployment Act prescribed by the Federal Communications Commission pursuant to section 4 of the Gigabit Opportunity Act, or
(B)which has been determined by the Secretary, in consultation with the National Telecommunications and Information Administration, to have adopted laws which are comparable to such Uniform Model Broadband Deployment Act, and (3)which is designated as a qualified gigabit opportunity zone.Paragraph (1)(B) shall not apply with respect to any jurisdiction for which a determination has been made after the date which is 3 years after the date of the enactment of this section.
(b)Designation
(1)In generalFor purposes of subsection (a)(3), a population census tract that is a low-income community and which meets the requirements of paragraph (1) of subsection (a) is designated as a qualified gigabit opportunity zone if— (A)not later than the end of the determination period, the governor of the State in which the tract is located—
(i)nominates the tract for designation as a qualified gigabit opportunity zone, and (ii)notifies the Secretary in writing of such nomination, and
(B)the Secretary certifies such nomination and designates such tract as a qualified gigabit opportunity zone before the end of the consideration period. (2)Extension of periodsA governor may request that the Secretary extend either the determination or consideration period, or both (determined without regard to this subparagraph), for an additional 30 days.
(c)Other definitionsFor purposes of this subsection— (1)Low-income communitiesThe term low-income community has the same meaning as when used in section 45D(e).
(2)Definition of periods
(A)Consideration periodThe term consideration period means the 30-day period beginning on the date on which the Secretary receives notice under subsection (b)(1)(A)(ii), as extended under subsection (b)(2). (B)Determination periodThe term determination period means the 90-day period beginning on the date on which the State adopts the Uniform Model Broadband Deployment Act described in subsection (a)(2)(A), as extended under subsection (b)(2).
(d)Guidance for opportunity zone nominationsWhen considering the nomination of qualified gigabit opportunity zones, governors should strive for the creation of qualified gigabit opportunity zones that are geographically concentrated and contiguous clusters of population census tracts and should give particular consideration to areas that— (1)are currently facing obstacles to economic development due to a lack of geographic broadband coverage or a lack of broadband speed,
(2)are currently the focus of mutually reinforcing State, local, or private economic development initiatives, and (3) (A)are poised for economic growth that requires access to high speed broadband for commercial purposes, and
(B)represent the areas of a State where such service would result in the highest return on investment. (e)Number of designations (1)In generalExcept as provided by paragraph (2), the number of population census tracts in a State that may be designated as qualified gigabit opportunity zones under this section may not exceed 25 percent of the number of low-income communities in the State.
(2)ExceptionIf the number of low-income communities in a State is less than 100, then a total of 25 of such tracts may be designated as qualified gigabit opportunity zones. (f)Designation of tracts contiguous with low-Income communities (1)In generalA population census tract that is not a low-income community may be designated as a qualified gigabit opportunity zone under this section if—
(A)such tract meets the requirements of paragraph (1) of subsection (a), (B)the tract is contiguous with a low-income community that is designated as a qualified gigabit opportunity zone, and
(C)the median family income of the tract does not exceed 150 percent of the median family income of the low-income community with which the tract is contiguous. (2)LimitationNot more than 25 percent of the population census tracts designated in a State as a qualified gigabit opportunity zone may be designated under paragraph (1).
(g)Period for which designation is in effectA designation as a qualified gigabit opportunity zone shall remain in effect for the period beginning on the date of the designation and ending at the close of the 7th calendar year beginning on or after such date of designation. 1400W–2.Deferral for eligible taxpayer of capital gains invested in gigabit opportunity zones (a)In general (1)Exclusion of gain invested in gigabit opportunity zone propertyIn the case of gain from the sale to, or exchange with, an unrelated person of any property held by an eligible taxpayer, at the election of the eligible taxpayer—
(A)gross income for the taxable year shall not include so much of such gain as does not exceed the aggregate cost of all qualified gigabit opportunity zone property acquired by the taxpayer during the 180-day period beginning on the date of such sale or exchange, and (B)the amount of gain excluded by subparagraph (A) shall be included in gross income as provided by paragraph (2).
(2)Deferral of gain invested in qualified gigabit opportunity zone property
(A)Year of inclusionExcept as provided by subparagraph (C), gain to which paragraph (1)(B) applies shall be included in income in the taxable year in which the qualified gigabit opportunity zone property related to such gain is sold or exchanged in the amount determined under subparagraph (B). (B)Amount includibleThe amount of gain determined under this clause shall be—
(i)100 percent of such gain in the case of the sale or exchange of the qualified gigabit opportunity zone property with respect to which gain is deferred under paragraph (1) that is held for less than 5 years, (ii)90 percent of such gain in the case of the sale or exchange of the qualified gigabit opportunity zone property with respect to which gain is deferred under paragraph (1) that is held for at least 5 years but less than 7 years, and
(iii)85 percent of such gain in the case of the sale or exchange of the qualified gigabit opportunity zone property with respect to which gain is deferred under paragraph (1) that is held for at least 7 years. (3)Exclusion of gain on qualified gigabit opportunity zone property held for at least 10 yearsExcept as provided in paragraph (2), in the case of the sale or exchange of qualified gigabit opportunity zone property, or an investment in a qualified opportunity fund, held for at least 10 years, gross income for the taxable year shall not include any gain from the sale or exchange of such property or investment.
(4)One election per propertyNo election may be made under paragraph (1) with respect to a sale or exchange if an election previously made with respect to such sale or exchange is in effect. (b)Basis rules relating to qualified gigabit opportunity zone property (1)Reduced by gain deferred under subsection (a)(1)The basis of a qualified gigabit opportunity zone property immediately after its acquisition under subsection (a) shall be reduced by the amount of gain deferred by reason of subsection (a)(1)(A) with respect to such property.
(2)Increase for gain recognized under subsection (a)(2)The basis of qualified gigabit opportunity zone property shall be increased by the amount of gain recognized by reason of subsection (a)(2) with respect to such property. (3)Subsequent increase in basis for property held for at least 5 years but less than 10 yearsIn the case of qualified gigabit opportunity zone property held for at least 5 years but less than 10 years—
(A)Property held for 5 yearsFor qualified gigabit opportunity zone property held for at least 5 years, the basis of such property shall be increased by an amount equal to 10 percent of the amount of gain deferred by reason of subsection (a)(1)(A) with respect to such property. (B)Property held for 7 yearsFor qualified gigabit opportunity zone property held for at least 7 years, the basis of such property shall be increased by an amount equal to 5 percent of the amount of gain deferred by reason of subsection (a)(1)(A) with respect to such property.
(c)Eligible taxpayerFor purposes of this section, the term eligible taxpayer means any taxpayer who has a trade or business a substantial part of which consists of selling broadband internet service to commercial customers, residential customers, or both through one or a combination of the following technologies: (1)Digital Subscriber Line transmission technology that transmits data faster over traditional copper telephone lines, without regards to the specific type of Digital Subscriber Line transmission technology such as Asymmetrical Digital Subscriber Line, Symmetrical Digital Subscriber Line, High data rate Digital Subscriber Line, or Very High data rate Digital Subscriber Line.
(2)Cable Modem transmission technology that enables operators to provide broadband using the same coaxial cables that deliver pictures and sound to televisions. (3)Fiber optic transmission technology that converts electrical signals carrying data to light and sends the light through transparent glass fibers.
(4)Wireless transmission technology that utilizes a radio link between the customer’s location and the service provider’s facility, whether mobile or fixed. (5)Satellite transmission technology that provides broadband links via orbiting satellites.
(6)Broadband over powerline transmission technology that delivers broadband over the existing low- and medium-voltage electric power distribution network. (7)Such other technologies as the Secretary, in consultation with the Federal Communications Commission, may designate by rule as a broadband provider technology.
(d)Qualified gigabit opportunity zone propertyFor purposes of this section: (1)In generalThe term qualified gigabit opportunity zone property means property which is—
(A)qualified gigabit opportunity zone stock, (B)qualified gigabit opportunity zone partnership interest,
(C)qualified gigabit opportunity zone business property, or (D)an interest in a qualified investment fund.
(2)Qualified gigabit opportunity zone stock
(A)In generalExcept as provided in subparagraph (B), the term qualified gigabit opportunity zone stock means any stock in a domestic corporation if— (i)such stock is acquired by the taxpayer after the date of the enactment of this section, at its original issue (directly or through an underwriter) from the corporation solely in exchange for cash,
(ii)as of the time such stock was issued, such corporation was a qualified gigabit opportunity zone business (or, in the case of a new corporation, such corporation was being organized for purposes of being a qualified gigabit opportunity zone business), and (iii)during substantially all of the taxpayer's holding period for such stock, such corporation qualified as a qualified gigabit opportunity zone business.
(B)RedemptionsA rule similar to the rule of section 1202(c)(3) shall apply for purposes of this paragraph. (3)Qualified gigabit opportunity zone partnership interestThe term qualified gigabit opportunity zone partnership interest means any capital or profits interest in a domestic partnership if—
(A)such interest is acquired by the taxpayer after the date of the enactment of this section, from the partnership solely in exchange for cash, (B)as of the time such interest was acquired, such partnership was a qualified gigabit opportunity zone business (or, in the case of a new partnership, such partnership was being organized for purposes of being a qualified gigabit opportunity zone business), and
(C)during substantially all of the taxpayer's holding period for such interest, such partnership qualified as a qualified gigabit opportunity zone business. (4)Qualified gigabit opportunity zone business property (A)In generalThe term qualified gigabit opportunity zone business property means tangible property used in a trade or business of the taxpayer if—
(i)such property— (I)is used primarily to provide broadband transmission services to areas which do not have fixed terrestrial broadband service that meets the current speed benchmark for fixed services (as determined by the Federal Communications Commission in its most recent report issued pursuant to section 706 of the Telecommunications Act of 1996 (47 U.S.C. 1302)), and
(II)is capable of transmitting signals at a rate of at least 1,000,000,000 bits per second, (ii)such property was acquired by the taxpayer by purchase (as defined in section 179(d)(2)) after the date of the enactment of this section,
(iii)the original use of such property in the qualified gigabit opportunity zone commences with the taxpayer or the taxpayer substantially improves the property, and (iv)during substantially all of the taxpayer’s holding period for such property, substantially all of the use of such property was in a qualified gigabit opportunity zone.
(B)Special rule for certain propertyIn the case of property which is placed in service before January 1, 2024, and which is with respect to technology described in paragraph (4) or (5) of subsection (c), subparagraph (A)(i)(II) shall be applied by substituting 150,000,000 bits per second for 1,000,000,000 bits per second. (C)Substantial improvementFor purposes of subparagraph (A)(iii), property shall be treated as substantially improved by the taxpayer only if, during any 30-month period beginning after the date of acquisition of such property, additions to basis with respect to such property in the hands of the taxpayer exceed an amount equal to the adjusted basis of such property at the beginning of such 30-month period in the hands of the taxpayer.
(D)Treatment of related partiesFor purposes of subparagraph (A)(ii), the rules of subparagraph (A) of section 179(d)(2) shall be applied using the relationship described in subsection (e)(2) in lieu of the relationship described in such subparagraph. (5)Qualified gigabit opportunity fundThe term qualified gigabit opportunity fund means any investment vehicle organized as a corporation or a partnership for the purpose of investing in qualified gigabit opportunity zone property (other than another qualified opportunity fund) that holds at least 90 percent of its assets in qualified opportunity zone property, determined—
(A)on the last day of the first 6-month period of the taxable year of the fund, and (B)on the last day of the taxable year of the fund.
(6)Qualified gigabit opportunity zone business
(A)In generalThe term qualified gigabit opportunity zone business means a trade or business— (i)in which substantially all of the tangible property owned or leased by the taxpayer is qualified gigabit opportunity zone business property,
(ii)which satisfies the requirements of paragraphs (2), (4), and (8) of section 1397C(b), and (iii)which is not described in section 144(c)(6)(B).
(B)Special ruleFor purposes of subparagraph (A), tangible property that ceases to be a qualified gigabit opportunity zone business property shall continue to be treated as a qualified gigabit opportunity zone business property for the lesser of— (i)5 years after the date on which such tangible property ceases to be so qualified, or
(ii)the date on which such tangible property is no longer held by the qualified gigabit opportunity zone business. (e)Applicable rules (1)In generalFor purposes of this section and except as otherwise provided in this section, rules similar to the rules applicable to deferred like kind exchanges under section 1031 shall apply except that reinvestment in qualified gigabit opportunity zone property need not require an intermediary party.
(2)Related personsFor purposes of this subsection, persons are related to each other if such persons are described in section 267(b) or 707(b)(1), determined by substituting 20 percent for 50 percent each place it occurs in such sections. (3)DecedentsIn the case of a decedent, amounts recognized under this section shall, if not properly includible in the gross income of the decedent, be includible in gross income as provided by section 691.
(4)RegulationsThe Secretary shall prescribe such regulations as may be necessary or appropriate to carry out the purposes of this section, including— (A)rules providing for proportionate inclusion in income and increases in basis for purposes of subsections (a) and (b) in cases in which a sale or exchange of any qualified gigabit opportunity zone property with respect to which gain is deferred under subsection (a)(1)(A) is less than all of such property,
(B)rules requiring taxpayers to provide such information as the Secretary determines to be necessary or appropriate for the identification of both the assets sold (including basis and sale price) and the assets acquired and investments made, and (C)rules to prevent abuse.
1400W–3.Immediate expensing of qualified gigabit opportunity zone business property
(a)In generalAn eligible taxpayer may elect to treat the cost of any qualified gigabit opportunity zone business property (as defined in section 1400W–2) as an expense which is not chargeable to capital account. Any cost so treated shall be allowed as a deduction for the taxable year in which the qualified gigabit opportunity zone business property is placed in service. (b)Eligible taxpayerFor purposes of this section, the term eligible taxpayer has the same meaning given to such term under section 1400W–2(c).
(c)Exception for certain propertyFor purposes of this section, the term qualified gigabit opportunity zone business property shall not include any property to which section 168(g) applies. (d)ElectionAn election under this section shall be made under rules similar to the rules of section 179(c).
(e)Coordination with section 179For purposes of section 179, qualified gigabit opportunity zone business property shall not be treated as section 179 property. (f)Application of other rulesRules similar to the rules of paragraphs (3), (4), (5), (7), (9), and (10) of section 179(d) shall apply for purposes of this section.
(g)Taxpayer reportingThis section shall not apply with respect to any taxpayer for any taxable year unless such taxpayer provides the Secretary with such information as the Secretary may require to allow the Secretary to evaluate the effectiveness of the program established under this part.. (b)Basis adjustmentsSection 1016(a) of such Code is amended by striking and at the end of paragraph (37), by striking the period at the end of paragraph (38) and inserting , and, and by inserting after paragraph (38) the following new paragraph:

(39)to the extent provided in section 1400W–2(b).. (c)Clerical amendmentThe table of subchapters for chapter 1 of such Code is amended by inserting after the item relating to subchapter V the following new item:

Subchapter W. Gigabit opportunity zones.
3.Private activity bonds for qualified broadband projects
(a)In generalSection 142(a) of the Internal Revenue Code of 1986 is amended by striking or at the end of paragraph (14), by striking the period at the end of paragraph (15) and inserting , or, and by adding at the end the following new paragraph:  (16)qualified broadband projects..
(b)Qualified broadband projectsSection 142 of such Code is amended by adding at the end the following new subsection:  (n)Qualified broadband project (1)In generalFor purposes of subsection (a)(16), the term qualified broadband project means any project which—
(A)is located in a jurisdiction that has been certified by the Secretary, in consultation with the National Telecommunications and Information Administration, as having adopted the Uniform Model Broadband Deployment Act prescribed by the Federal Communications Commission pursuant to section 4 of the Gigabit Opportunity Act, and (B)results in gigabit capable internet access to residential or commercial locations—
(i)where a broadband service provider previously did not provide service, or (ii)which do not have fixed terrestrial broadband service that meets the current speed benchmark for fixed services (as determined by the Federal Communications Commission in its most recent report issued pursuant to section 706 of the Telecommunications Act of 1996 (47 U.S.C. 1302))..
(c)Effective dateThe amendments made by this section shall apply to bonds issued after the date of the enactment of this Act. 4.Uniform Model Broadband Deployment Act (a)In generalNot later than 1 year after the date of the enactment of this Act, the Federal Communications Commission shall publish a Uniform Model Broadband Deployment Act containing laws for the State regulation of the deployment of broadband services.
(b)No inference relating to data collectionNothing in this Act or the amendments made by this Act shall be construed to provide additional authority for the collection of data to the Federal Communications Commission or the National Telecommunications and Information Administration.


117 S936 IS: Integrity, Notification, and Fairness in Online Retail Marketplaces for Consumers Act
U.S. Senate
2021-03-23
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.

II117th CONGRESS1st SessionS. 936IN THE SENATE OF THE UNITED STATESMarch 23, 2021Mr. Durbin (for himself, Mr. Cassidy, Mr. Grassley, Ms. Hirono, Mr. Coons, and Mr. Tillis) introduced the following bill; which was read twice and referred to the Committee on Commerce, Science, and TransportationA BILLTo require online marketplaces to collect, verify, and disclose certain information regarding high-volume third party sellers of consumer products to inform consumers.1.Short titleThis Act may be cited as the Integrity, Notification, and Fairness in Online Retail Marketplaces for Consumers Act  or the INFORM Consumers Act.2.Collection, verification, and disclosure of information by online marketplaces to inform consumers(a)Collection and verification of information(1)Collection(A)In generalAn online marketplace shall require any high-volume third party seller on such online marketplace's platform to provide, not later than 2 business days after qualifying as a high-volume third party seller on the platform, the following information to the online marketplace:(i)Bank account(I)In generalA bank account number, or, if such seller does not have a bank account, the name of the payee for payments issued by the online marketplace to such seller.(II)Provision of informationThe bank account or payee information required under subclause (I) may be provided by the seller in the following ways:(aa)To the online marketplace.(bb)To a payment processor or other third party contracted by the online marketplace to maintain such information, provided that the online marketplace ensures that it can obtain such information on demand from such payment processor or other third party.(ii)Contact informationContact information for such seller as follows:(I)With respect to a high-volume third party seller that is an individual, a copy of a valid government-issued identification for the individual that includes the individual's name and physical address.(II)With respect to a high-volume third party seller that is not an individual, one of the following forms of contact information:(aa)A copy of a valid government-issued identification for an individual acting on behalf of such seller that includes the individual's name and physical address.(bb)A copy of a valid government-issued record or tax document that includes the business name and physical address of such seller.(iii)Tax IDA business tax identification number, or, if such seller does not have a business tax identification number, a taxpayer identification number.(iv)Working email and phone numberA current working email address and phone number for such seller.(B)Notification of change; annual certification(i)In generalAn online marketplace shall require any high-volume third party seller on such online marketplace's platform to promptly notify the online marketplace of any change to the information collected under subparagraph (A).(ii)Annual certificationNot later than 1 year after the date of enactment of this Act and annually thereafter, an online marketplace shall—(I)inform any high-volume third party seller on such online marketplace's platform of the notification requirement described in clause (i); and(II)instruct any such seller to electronically certify, not later than 3 business days after receiving such instruction, that—(aa)there have been no changes to such seller's information; or(bb)such seller has provided any changes to such information to the online marketplace.(iii)SuspensionIn the event that an online marketplace does not receive the annual certification from a high-volume third party seller required under clause (ii), the online marketplace shall suspend any future sales activity of such seller or any payments to such seller for prior sales activity until such seller provides such certification.(2)Verification(A)In generalAn online marketplace shall—(i)verify the information collected under paragraph (1)(A) not later than 3 business days after such collection; and(ii)verify any change to such information not later than 3 business days after being notified of such change by a high-volume third party seller under paragraph (1)(B).(B)Presumption of verificationIn the case of a high-volume third party seller that provides a copy of a valid government-issued tax document, any information contained in such document shall be presumed to be verified as of the date of issuance of such document.(b)Disclosure required(1)Requirement(A)In generalAn online marketplace shall—(i)require any high-volume third party seller on such online marketplace's platform to provide the information described in subparagraph (B) to the online marketplace; and(ii)disclose the information described in subparagraph (B) to consumers in a clear and conspicuous manner on the product listing or (for information other than such seller's identification) through a clear and conspicuously placed link on the product listing or in close proximity to the physical product.(B)Information describedThe information described in this subparagraph is the following:(i)Subject to paragraph (2), the identity of the high-volume third party seller, including—(I)the full name of the seller;(II)the physical address of the seller;(III)whether the seller also engages in the manufacturing, importing, or reselling of consumer products; and(IV)contact information for the seller, including—(aa)a current working phone number; and(bb)a current working email address or other means of electronic messaging (which may be provided to such seller by the online marketplace).(ii)The identification of any seller that supplies the consumer product to the consumer upon purchase, if such seller is different than the high-volume third party seller listed on the product listing prior to purchase.(2)Exception(A)In generalSubject to subparagraph (B), upon the request of a high-volume third party seller, an online marketplace may provide for partial disclosure of the identity information required under paragraph (1)(B)(i) in the following situations:(i)If such seller certifies to the online marketplace that the seller does not have a business address and only has a residential street address, the online marketplace may—(I)disclose only the country and, if applicable, the State in which such seller resides; and(II)inform consumers that there is no business address available for the seller and that consumer inquiries should be submitted to the seller by phone, email, or other means of electronic messaging provided to such seller by the online marketplace.(ii)If such seller certifies to the online marketplace that the seller is a business that has a physical address for product returns, the online marketplace may disclose the seller’s physical address for product returns.(iii)If such seller certifies to the online marketplace that the seller does not have a phone number other than a personal phone number, the online marketplace shall inform consumers that there is no phone number available for the seller and that consumer inquiries should be submitted to the seller’s email address or other means of electronic messaging provided to such seller by the online marketplace.(B)Limitation on exceptionIf an online marketplace becomes aware that a high-volume third party seller has made a false representation to the online marketplace in order to justify the provision of a partial disclosure under subparagraph (A) or that a high-volume third party seller who has requested and received a provision for a partial disclosure under subparagraph (A) has not provided responsive answers within a reasonable time frame to consumer inquiries submitted to the seller by phone, email, or other means of electronic messaging provided to such seller by the online marketplace, the online marketplace shall suspend the selling privileges of such seller unless such seller consents to the disclosure of the identity information required under paragraph (1)(B)(i).(3)Reporting mechanismAn online marketplace shall disclose to consumers in a clear and conspicuous manner on the product listing of any high-volume third party seller—(A)a reporting mechanism that allows for electronic and telephonic reporting of suspicious marketplace activity to the online marketplace; and (B)a message encouraging consumers seeking goods for purchase to report suspicious marketplace activity to the online marketplace.(4)ComplianceIf a high-volume third party seller does not comply with the requirements to provide and disclose information under this subsection, the online marketplace shall suspend any future sales activity of such seller or any payments to such seller for prior sales activity until such seller complies with such requirements.(c)Enforcement(1)Unfair and deceptive acts or practicesA violation of subsection (a) or (b) by an online marketplace shall be treated as a violation of a rule defining an unfair or deceptive act or practice prescribed under section 18(a)(1)(B) of the Federal Trade Commission Act (15 U.S.C. 57a(a)(1)(B)).(2)Powers of the Commission(A)In generalThe Commission shall enforce this Act in the same manner, by the same means, and with the same jurisdiction, powers, and duties as though all applicable terms and provisions of the Federal Trade Commission Act (15 U.S.C. 41 et seq.) were incorporated into and made a part of this Act.(B)Privileges and immunitiesAny person that violates subsection (a) or (b) shall be subject to the penalties, and entitled to the privileges and immunities, provided in the Federal Trade Commission Act (15 U.S.C. 41 et seq.).(3)RegulationsThe Commission may promulgate regulations under section 553 of title 5, United States Code, with respect to the collection, verification, or disclosure of information under this section, provided that such regulations are limited to what is necessary to collect, verify, and disclose such information.(4)Authority preservedNothing in this Act shall be construed to limit the authority of the Commission under any other provision of law.(d)SeverabilityIf any provision of this section, or the application thereof to any person or circumstance, is held invalid, the remainder of this section and the application of such provision to other persons not similarly situated or to other circumstances shall not be affected by the invalidation.(e)DefinitionsIn this Act:(1)CommissionThe term Commission means the Federal Trade Commission. (2)Consumer productThe term consumer product has the meaning given such term in section 101 of the Magnuson-Moss Warranty—Federal Trade Commission Improvement Act (15 U.S.C. 2301 note) and section 700.1 of title 16, Code of Federal Regulations.(3)High-volume third party sellerThe term high-volume third party seller means a participant on an online marketplace's platform who is a third party seller and who, in any continuous 12-month period during the previous 24 months, has entered into 200 or more discrete sales or transactions of new or unused consumer products resulting in the accumulation of an aggregate total of $5,000 or more in gross revenues.(4)Online marketplaceThe term online marketplace means any person or entity that operates an electronically based or accessed platform that—(A)includes features that allow for, facilitate, or enable third party sellers to engage in the sale, purchase, payment, storage, shipping, or delivery of a consumer product in the United States; and(B)is used by one or more third party sellers for such purposes.(5)SellerThe term seller means a person who sells, offers to sell, or contracts to sell a consumer product through an online marketplace's platform.(6)Third party seller(A)In generalThe term third party seller means any seller, independent of an online marketplace, who sells, offers to sell, or contracts to sell a consumer product in the United States through such online marketplace's platform. (B)ExclusionsThe term third party seller does not include, with respect to an online marketplace, a seller—(i)who operates the online marketplace's platform; or(ii)who—(I)is a business entity that has made available to the general public the entity’s name, business address, and working contact information;(II)has an ongoing contractual relationship with the online marketplace to provide for the manufacture, distribution, wholesaling, or fulfillment of shipments of consumer products; and(III)has provided to the online marketplace identifying information, as described in subsection (a), that has been verified in accordance with that subsection. (7)VerifyThe term verify means to confirm information provided to an online marketplace pursuant to this section by the use of one or more methods that enable the online marketplace to reliably determine that any information and documents provided are valid, corresponding to the seller or an individual acting on the seller’s behalf, not misappropriated, and not falsified.3.Effective dateThis Act shall take effect 180 days after the date of the enactment of this Act.


113 HR 1356 IH: To designate the facility of the United States Postal Service located at 1444 Main Street in Ramona, California, as the “Nelson Mac MacWilliams Post Office Building”.
U.S. House of Representatives
2013-03-21
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.

		I
		113th CONGRESS
		1st Session
		H. R. 1356
		IN THE HOUSE OF REPRESENTATIVES

			March 21, 2013
			Mr. Hunter (for
			 himself, Mr. Schiff,
			 Ms. Linda T. Sánchez of California,
			 Mr. McClintock,
			 Ms. Matsui,
			 Ms. Lee of California,
			 Mr. Honda,
			 Ms. Waters,
			 Mr. Calvert,
			 Mr. Costa,
			 Mr. Farr, Mr. Royce, Ms.
			 Loretta Sanchez of California, Mr.
			 Rohrabacher, Mrs.
			 Napolitano, Mr. Nunes,
			 Mr. Waxman,
			 Mr. Thompson of California,
			 Mr. Cárdenas,
			 Mrs. Capps,
			 Ms. Eshoo,
			 Mr. Cook, Ms. Brownley of California,
			 Mrs. Negrete McLeod,
			 Mr. Vargas,
			 Mr. LaMalfa,
			 Ms. Chu, Mr. Campbell, Mr.
			 Sherman, Mr. McCarthy of
			 California, Mr. McKeon,
			 Mr. McNerney,
			 Mr. Garamendi,
			 Mr. Denham,
			 Mr. Takano,
			 Ms. Hahn, Mr. Swalwell of California,
			 Mr. Ruiz, Ms. Lofgren, Mrs.
			 Davis of California, Mr. Bera of
			 California, Mr. Lowenthal,
			 Mr. Valadao,
			 Mr. Huffman, and
			 Ms. Bass) introduced the following
			 bill; which was referred to the Committee
			 on Oversight and Government Reform

		A BILL
		To designate the facility of the United States Postal
		  Service located at 1444 Main Street in Ramona, California, as the Nelson
		  Mac MacWilliams Post Office Building.

		1.Nelson Mac
			 MacWilliams Post Office Building
			(a)DesignationThe
			 facility of the United States Postal Service located at 1444 Main Street in
			 Ramona, California, as the Nelson Mac MacWilliams Post
			 Office Building.
			(b)ReferencesAny
			 reference in a law, map, regulation, document, paper, or other record of the
			 United States to the facility referred to in subsection (a) shall be deemed to
			 be a reference to the Nelson Mac MacWilliams Post Office
			 Building.


114 S1047 IS: To require the Secretary of Energy to review rulemaking proceedings of other Federal agencies for the potential to cause an adverse effect on the cost, time, or difficulty of complying with energy efficiency regulations, guidelines, or standards.
U.S. Senate
2015-04-22
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.

		II
		114th CONGRESS1st Session
		S. 1047
		IN THE SENATE OF THE UNITED STATES

			April 22, 2015
			Mr. Alexander introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources

		A BILL
		To require the Secretary of Energy to review rulemaking proceedings of other Federal agencies for
			 the potential to cause an adverse effect on the cost, time, or difficulty
			 of complying with energy efficiency regulations, guidelines, or standards.

		1.Review of rulemaking
 (a)In generalThe Secretary of Energy (referred to in this Act as the Secretary) shall review the rulemaking proceedings of other Federal agencies that are pending on or after the date of enactment of this Act for the potential to cause an adverse effect on the cost (whether short-term or long-term), time, or difficulty of complying with current or proposed energy efficiency regulations, guidelines, or standards of the Department of Energy.
			(b)Consultation
 (1)In generalThe Secretary shall consult with the head of each relevant Federal agency to identify any areas of conflict or overlap between a proposed or final regulation, guideline, or standard of the Department of Energy and a proposed or final regulation, guideline, or standard of that relevant Federal agency.
 (2)Public inputThe Secretary shall seek public input on any conflicts or overlaps identified under paragraph (1). (c)Resolution of conflictFor cases in which a conflicting or overlapping proposed regulation, guideline, or standard has been identified under subsection (b), prior to finalizing the rulemaking, the Secretary shall work with the head of the relevant Federal agency and the public, including small businesses, to resolve the conflict or overlap, in order to ensure that the regulatory conflict or overlap does not pose an undue compliance burden on the regulated persons.