II116th CONGRESS1st SessionS. 2839IN THE SENATE OF THE UNITED STATESNovember 12, 2019Mr. Kennedy introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban AffairsA BILLTo amend the Bank Holding Company Act of 1956 to regulate industrial bank holding companies, and
			 for other purposes.

		1.Short titleThis Act may be cited as the Eliminating Corporate Shadow Banking Act of 2019.
		2.Industrial bank holding company regulation
			(a)DefinitionsSection 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841) is amended—
				(1)in subsection (c)(2), by redesignating subparagraph (H) as subsection (r),  moving that subsection
			 to appear after subsection (q), and adjusting the margins accordingly;
				(2)in subsection (r), as so redesignated—
					(A)by striking (r) An industrial and inserting the following:

							(r)Industrial bankThe term industrial bank means an industrial; and
					(B)in the flush text following subparagraph (B), by striking subparagraph and inserting subsection; and
					(3)by adding at the end the following:

						(s)Covered industrial bank holding companyThe term covered industrial bank holding company means any company—
							(1)that, before October 1, 2019, controlled (as determined by the Board pursuant to subsection (a)),
			 directly or indirectly, an
			 industrial bank;
							(2)that did not acquire control of any other depository institution after October 1, 2019;
							(3)with respect to which there is no change in control, directly or indirectly, of any depository
			 institution subsidiary after October 1, 2019, that requires a registration
			 under this section or an application under section 7(j) or 18(c) of the
			 Federal Deposit Insurance Act (12 U.S.C. 1817(j), 1828(c)), section 3 of
			 this Act, or section 10 of the Home Owners’ Loan Act (12 U.S.C. 1467a);
			 and
							(4)that was not—
								(A)a bank holding company;
								(B)a savings and loan holding company;
								(C)a company that is subject to this Act pursuant to section 8(a) of the International Banking Act of
			 1978 (12 U.S.C. 3106(a));
								(D)a holding company regulated by the Securities and Exchange Commission pursuant to section
			 240.15c3–1(a)(7) of title 17, Code of Federal Regulations, as in effect on
			 August 1, 2019; or
								(E)controlled by a company described in subparagraph (A), (B), (C), or (D).
								(t)Capital terms relating to covered industrial bank holding companies
							(1)Adequately capitalizedWith respect to a covered industrial bank holding company, the term adequately capitalized means a level of capitalization which meets or exceeds all applicable Federal regulatory capital
			 standards.
							(2)Well capitalizedWith respect to a covered industrial bank holding company, the term well capitalized means a level of capitalization which meets or exceeds the required capital levels for well
			 capitalized covered industrial bank holding companies established by the
			 Board..
				(b)Covered industrial bank holding company registration and ownershipThe Bank Holding Company Act  of 1956 (12 U.S.C. 1841 et seq.) is amended by adding at the end the
			 following:

					15.Industrial bank holding company regulation
						(a)Acquisition of industrial bank shares or assetsSection 3 of this Act (other than section 3(c)(3)(B)) shall apply to any covered industrial bank
			 holding company in the same manner as that
			 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 a covered 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 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 2019;
							(4)any reference to a home State in such section 3 shall be deemed to be a reference to—
								(A)with respect to a covered 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)October 1, 2019; or
									(ii)the date on which the company becomes a covered 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) of
			 the Federal Deposit Insurance Act (12 U.S.C. 1831u(g));
								(5)any reference to a host State in such section 3 shall be deemed to be a reference to—
								(A)with respect to a covered 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) of
			 the Federal Deposit Insurance Act (12 U.S.C. 1831u(g));
								(6)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, a covered
			 industrial bank holding company whose home State is another State; and
							(7)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 covered industrial bank holding company shall register with the Board on forms prescribed by
			 the Board
			 before the end of the 180-day period beginning on the later of—
								(A)the date the company becomes a covered industrial bank holding company; or
								(B)the date of enactment of this section.
								(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 covered industrial bank holding company
			 and
			 subsidiaries of the covered industrial bank holding company, and other
			 factors
			 (including information described in subsection (d)(1)(C)), as the Board
			 may determine to be appropriate to carry out the purposes of this section.
							(3)Extension of time for submitting complete informationUpon application by a covered industrial bank holding company and subject to such requirements,
			 factors,
			 and evidence as the Board may require, the Board may extend the period
			 described in paragraph (1) within which the covered industrial bank
			 company shall
			 register and file the requisite information.
							(d)Reports and examinations
							(1)Reports
								(A)Reports requiredEach covered industrial bank holding company and each subsidiary of a covered industrial bank
			 holding company,
			 other than an industrial bank, shall file with the Board such reports as
			 may be required by the Board.
								(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 Board may prescribe.
								(C)InformationEach report filed under subparagraph (A) shall contain such information as the Board may require
			 concerning—
									(i)the operations of the covered industrial bank holding company and the subsidiaries of the covered
			 industrial bank
			 holding company;
									(ii)the financial condition of the covered industrial bank holding company and the subsidiaries of the
			 covered industrial bank holding company, together with information on
			 systems
			 maintained within the covered industrial bank holding company or within
			 any
			 subsidiary of the covered industrial bank holding company for monitoring
			 and
			 controlling financial and operating risks, and transactions with insured
			 depository institution subsidiaries of the covered industrial bank holding
			 company;
									(iii)compliance by the covered industrial bank holding company and the subsidiaries of the covered
			 industrial bank
			 holding company with all applicable Federal and State laws; and
									(iv)such other information as the Board may require.
									(D)Acceptance of existing reportsFor purposes of this paragraph, the Board may accept reports that a covered industrial bank holding
			 company or any subsidiary of a covered industrial bank holding 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 covered industrial bank holding company and each subsidiary of each covered industrial bank
			 holding company
			 (other than an industrial bank) shall be subject to such examinations by
			 the Board as the Board 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 Board 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 Board may use, for 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 covered
			 industrial bank holding company or subsidiary of the covered industrial
			 bank holding company,
			 to the extent the Board may determine such use to be feasible for such
			 purposes.
								(3)Capital
								(A)In generalThe Board 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 the Federal
			 Deposit Insurance Act (12 U.S.C. 1831v)) of any depository institution
			 that is controlled by a covered 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 or State
			 supervisory
			 agency of the affiliate (including the Securities and Exchange Commission
			 or State insurance authority);
										(II)properly registered as an investment adviser—
											(aa)under the Investment Advisers Act of 1940 (15 U.S.C. 80b–1 et seq.); or
											(bb)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 Board 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 boardAny confidential supervisory information, including examination or other reports, pertaining to a
			 covered industrial bank holding company furnished by the Board to any
			 other Federal agency or any
			 appropriate State supervisory agency shall remain confidential unless the
			 Board, in writing, otherwise consents.
							(2)Deference to depository institution examinationsAny appropriate Federal supervisory agency of a covered industrial bank holding company shall, to
			 the
			 fullest extent possible, rely on examination reports made by the
			 appropriate Federal banking
			 agency and the appropriate State bank supervisor relating to any
			 depository institution subsidiary of the covered industrial bank holding
			 company in lieu of a direct
			 examination.
							(3)Information to be provided to board
								(A)Request to agencyUpon request by the Board, an appropriate Federal supervisory agency may provide to the Board
			 information regarding the condition of an industrial bank, any covered
			 industrial bank holding company of the industrial bank, or any other
			 affiliate of any
			 such covered industrial bank holding company that is necessary to assess
			 risk to the industrial
			 bank.
								(B)Availability from holding company directlyNotwithstanding section 45 of the Federal Deposit Insurance Act (12 U.S.C. 1825), section 115 of
			 the Gramm-Leach-Bliley Act (12 U.S.C. 1820a), or any other provision of
			 law (including any regulation), if the information requested under
			 subparagraph (A) is not provided to the Board, and the information is
			 necessary to assess risk to the industrial bank, the Board may require the
			 covered industrial bank holding company or affiliate thereof referred to
			 in such subparagraph with respect
			 to such industrial bank to provide such information to the Board.
								(4)Examinations by board
								(A)In generalSubject to subparagraph (B) and notwithstanding section 45 of the Federal Deposit Insurance Act (12
			 U.S.C. 1831v), section 115 of the Gramm-Leach-Bliley Act (12 U.S.C.
			 1820a), or any other provision of law (including any regulation), no law
			 shall be construed as preventing the Board from examining an affiliate of
			 an industrial bank 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 Board finds such examination
			 necessary to determine the condition of an industrial bank.
								(B)Functionally regulated affiliatesBefore the Board may examine any affiliate of an industrial bank that is a broker, a dealer, an
			 investment company, an investment advisor, or an entity that is subject to
			 consolidated supervision by the Securities and Exchange Commission, other
			 than a depository institution, the Board—
									(i)shall request the Commission to provide the information that the Board is seeking to obtain through
			 examination; and
									(ii)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 that derives any amount of revenue from activities that are not financial in
			 nature, or incidental to a financial activity as defined in section 4(k).
							(3)Pre-2019 exclusions for certain industrial banks
								(A)Grandfathered institutionsParagraph (1) shall not apply with respect to any industrial bank—
									(i)that became an insured depository institution before October 1, 2019, or pursuant to an application
			 for deposit insurance that was approved by the Federal Deposit Insurance
			 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, 2019, that requires a registration under this section or an
			 application under section 7(j) or 18(c) of the Federal Deposit Insurance
			 Act (12 U.S.C. 1817(j), 1828(c)), section 3 of this Act, or section 10 of
			 the Home Owners’ Loan Act (12 U.S.C. 1467a), except a direct or indirect
			 change of control in which—
										(I)immediately prior to such change in control the acquiring company is a bank holding company, a
			 financial holding company, a savings and loan holding company, or a
			 holding company regulated by the Securities and Exchange Commission
			 pursuant to section 240.15c3–1(a)(7) of title 17,  Code of Federal
			 Regulations, as in effect on August 1, 2019;
										(II)the resulting holding company is a bank holding company, a financial holding company, a savings and
			 loan holding company, or a holding company regulated by the Securities and
			 Exchange Commission pursuant to section 240.15c3–1(a)(7) of title 17, Code
			 of Federal Regulations, as in effect on October 1, 2019; and
										(III)the resulting ultimate holding company is subject to consolidated supervision by the Board or a
			 holding company regulated by the Securities and Exchange Commission
			 pursuant to section 240.15c3–1(a)(7) of title 17, Code of Federal
			 Regulations, as in effect on October 1, 2019.
										(B)Corporate reorganizations permittedThe acquisition of direct or indirect control of an industrial bank referred to in subparagraph
			 (A)(ii) shall not be treated as a change in control for purposes of that subparagraph if—
									(i)the company acquiring control is itself directly or indirectly controlled by a company that was an
			 affiliate of the industrial bank on the date referred to in that
			 subparagraph, and remains an affiliate at all times after that 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 that subparagraph.
									(4)Pre-2019 exclusions for commercial firms
								(A)Grandfathered commercial firmsParagraph (1) shall not apply to any commercial firm—
									(i)that became a covered industrial bank holding company by virtue of acquiring control of an
			 industrial
			 bank before October 1, 2019;
									(ii)that did not acquire control of any other depository institution after October 1, 2019;
									(iii)with respect to which there is no change in control, directly or indirectly, of any depository
			 institution subsidiary after October 1, 2019, that requires a registration
			 under this section or an application under section 7(j) or 18(c) of the
			 Federal Deposit Insurance Act (12 U.S.C. 1817(j), 1828(c)), section 3 of
			 this Act, or section 10 of the Home Owners’ Loan Act (12 U.S.C. 1467a);
			 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) if the industrial bank—
									(i)engages only in activities in which the industrial bank was engaged on October 1, 2019; 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 October 1, 2019.
									(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 that 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 that subparagraph,
			 and remains an affiliate at all times after that 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 that subparagraph.
									(g)Procedures and timing for termination of activities or divestiture
							(1)Transition provision
								(A)In generalAny covered industrial bank holding company that fails to comply with the provisions of subsection
			 (f) shall divest its ownership
			 or control of each industrial bank subsidiary of the covered industrial
			 bank holding company not later
			 than the end of the 2-year period beginning on the first date that the
			 covered industrial bank holding company ceased to comply with subsection
			 (f).
								(B)Extension of time period
									(i)In generalUpon application by a covered industrial bank holding company, the appropriate Federal
			 supervisory agency of the covered industrial bank holding company may
			 extend the 2-year period
			 referred to in subparagraph (A) with respect to the covered industrial
			 bank holding company for
			 not more than 1 year if, in the judgment of the Federal supervisory
			 agency, the extension would not be detrimental to the public interest.
									(ii)FactorsIn making any decision to grant an extension under clause (i) to a covered industrial bank holding
			 company, the appropriate Federal supervisory agency of the covered
			 industrial bank holding company
			 shall consider whether—
										(I)the covered industrial bank holding company has made a good faith effort to divest those interests;
			 and
										(II)such extension is necessary to avert substantial loss to the covered industrial bank holding
			 company.
										(2)Conditions before divestitureDuring the 2-year period referred to in paragraph (1)(A) with respect to any covered industrial
			 bank holding company and any
			 extension of that period, the appropriate Federal supervisory agency may
			 impose any conditions or restrictions on the covered industrial bank
			 holding company or any subsidiary of
			 the covered industrial bank holding company (other than a bank), including
			 restricting or prohibiting
			 transactions between the covered industrial bank holding company or
			 subsidiary and any depository
			 institution subsidiary of the covered industrial bank holding 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 covered industrial bank holding company of any activity
			 or
			 of ownership or control of any nonbank subsidiary of the covered
			 industrial bank 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 covered industrial bank holding
			 company and is
			 inconsistent with sound banking principles or with the purposes of this
			 section, at the election of the covered industrial bank holding company—
									(i)order the covered industrial bank holding company or any nonbank subsidiary of the covered
			 industrial bank holding company, 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 those 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 the
			 covered industrial bank holding company or nonbank subsidiary of the
			 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 covered industrial bank holding company; or
									(ii)order the covered industrial bank holding company, after due notice and opportunity for hearing,
			 and
			 after consultation with the appropriate State bank supervisor for the
			 industrial bank controlled by the covered industrial bank holding company,
			 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 the covered industrial bank holding
			 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 covered  industrial bank holding
			 company, and the distributing covered industrial bank holding company
			 shall not make any charge to any shareholder in connection with that
			 distribution.
								(4)Holding company responsibility
								(A)Source of strengthNotwithstanding section 45 of the Federal Deposit Insurance Act (12 U.S.C. 1831v), a covered
			 industrial bank holding company—
									(i)shall serve as a source of financial and managerial strength to the subsidiary banks of the covered
			 industrial bank holding company in the same manner as required under
			 section 38A of the Federal Deposit Insurance Act (12 U.S.C. 1831o–1); and
									(ii)shall not conduct the operations of the covered industrial bank holding company in an unsafe or
			 unsound manner.
									(B)ImplementationThe appropriate Federal supervisory agency of a covered industrial bank holding company shall
			 implement the requirements under subparagraph (A) with respect to that
			 industrial bank holding company.
								(h)Foreign bank ownershipAfter October 1, 2019, no foreign bank may acquire, directly or indirectly, control of an
			 industrial bank.
						(i)Administrative provisions
							(1)Agent for service of processThe Board may require any covered industrial bank holding company, or persons connected with the
			 covered industrial bank 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 Board may at any time, upon a motion by the Board or upon application, release a registered
			 covered industrial bank holding company from any registration previously
			 made by
			 the covered industrial bank holding company, if the Board determines that
			 the covered industrial bank holding company no longer controls any
			 industrial bank.
							(j)DefinitionIn this section:
							(1)Appropriate federal supervisory agencyThe term appropriate Federal supervisory agency means, with respect to a company that controls an industrial bank—
								(A)the Board, in the case of a company that is a bank holding company, a company that is a covered
			 industrial bank holding company, a company that is a savings and loan
			 holding
			 company, or a company that is subject to this Act  pursuant to section
			 8(a) of the International Banking Act of 1978 (12 U.S.C. 3106(a)); or
								(B)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, Code of
			 Federal Regulations, as in effect on August 1, 2019.
								(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)EnforcementSection 8 of the Federal Deposit Insurance Act (12 U.S.C. 1818) is amended—
				(1)in subsection (b), by adding at the end the following:

						(11)Industrial bank holding companiesThis subsection and subsections (c) through (s) and subsection (u) of this section shall apply to
			 any covered industrial bank holding company and to any subsidiary (other
			 than a
			 depository institution) of a covered industrial bank holding company in
			 the same
			 manner as those subsections apply to State nonmember insured banks.;
				(2)in subsection (h)(2), by striking Any party to and inserting Any party aggrieved by an order of any appropriate Federal supervisory agency under section 15 of
			 the Bank Holding Company Act of 1956 or any party to; and
				(3)in subsection (i), by striking or 39 each place that term appears and inserting , 39, or section 15 of the Bank Holding Company Act of 1956.
				(d)Prompt corrective actionSection 38(f)(2)(H) of the Federal Deposit Insurance Act (12 U.S.C. 1831o(f)(2)(H)) is amended—
				(1)in the subparagraph heading, by inserting or industrial bank holding company after company;
				(2)by striking Prohibiting any bank and inserting the following:

						(i)Bank holding companyProhibiting any bank; and
				(3)by adding at the end the following:

						(ii)Industrial bank holding companyProhibiting any covered industrial bank holding company having control of the insured depository
			 institution from making any capital distribution without the prior
			 approval of the Board..
				(e)Technical and conforming amendments
				(1)Bank Holding Company Act of 1956Section 14(a)(2) of the Bank Holding Company Act of 1956 (12 U.S.C. 1852(a)(2)) is amended—
					(A)in subparagraph (E), by striking and at the end; and
					(B)by inserting after subparagraph (F) the following:

							(G)a covered industrial bank holding company; and.
					(2)Federal Deposit Insurance ActSection 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813) is amended—
					(A)in subsection (a), by adding at the end the following:

							(4)Industrial bankThe term industrial bank has the meaning given the term in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C.
			 1841).;
					(B)in subsection (q)(3)—
						(i)in subparagraph (F), by striking and at the end;
						(ii)in subparagraph (G), by striking the period and inserting ; and; and
						(iii)by inserting after subparagraph (G) the following:

								(H)any covered industrial bank holding company, and any subsidiary of an industrial bank holding
			 company
			 (other than a depository institution).; and
						(C)in subsection (w)—
						(i)in paragraph (1), by striking or a savings and loan holding company and inserting , a savings and loan holding company, or a covered industrial bank holding company; and
						(ii)by adding at the end the following:

								(8)Covered industrial bank holding companyThe term covered industrial bank holding company has the meaning given the  term in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C.
			 1841)..
						(3)Gramm-Leach Bliley ActSection 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 , covered industrial bank holding company, or; and
					(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:

								(5)Covered industrial bank holding companyThe term covered industrial bank holding company has the meaning given the term in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C.
			 1841)..
						(4)Home Mortgage Disclosure Act of 1975Section 304(g)(1) of the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2803(g)(1)) is amended by
			 inserting , covered industrial bank holding company (as defined in section 2 of the Bank Holding Company Act
			 of 1956
			 (12 U.S.C. 1841), after bank holding company.
				(5)Right to Financial Privacy Act of 1978Section 1101(6) of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3401(6)) is amended—
					(A)in subparagraph (A), by striking and at the end; and
					(B)by adding at the end the following:

							(C)any covered industrial bank holding company (as defined in section 2 of the Bank Holding Company
			 Act of
			 1956 (12 U.S.C. 1841)); and.
					3.RegulationsThe Board of Governors of the Federal Reserve System shall prescribe such regulations as the Board
			 determines to be appropriate to carry out the amendments made by this Act.


116 HR 3146 IH: Fair Flood Insurance Act of 2019
U.S. House of Representatives
2019-06-05
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.

I116th CONGRESS1st SessionH. R. 3146IN THE HOUSE OF REPRESENTATIVESJune 5, 2019Mr. David Scott of Georgia (for himself and Mr. Duffy) introduced the following bill; which was referred to the Committee on Financial ServicesA BILLTo provide for the monthly installment payment of premiums for coverage under the National Flood
			 Insurance Program, and for other purposes.

 1.Short titleThis Act may be cited as the Fair Flood Insurance Act of 2019. 2.Monthly installment payment of premiums (a)AuthoritySubsection (g) of section 1308 of the National Flood Insurance Act of 1968 (42 U.S.C. 4015(g)) is amended—
 (1)by striking the subsection designation and all that follows through With respect and inserting the following:  (g)Frequency of premium collection (1)OptionsWith respect; and
 (2)by adding at the end the following:  (2)Monthly installment payment of premiums (A)Exemption from rulemakingUntil such time as the Administrator promulgates regulations implementing paragraph (1) of this subsection, the Administrator may adopt policies and procedures, notwithstanding any other provisions of law and in alignment and consistent with existing industry escrow and servicing standards, necessary to implement such paragraph without undergoing notice and comment rulemaking and without conducting regulatory analyses otherwise required by statute, regulation, or Executive order.
 (B)Pilot programThe Administrator may initially implement paragraph (1) of this subsection as a pilot program that provides for a gradual phase-in of implementation.
 (C)Policyholder protectionThe Administrator may— (i)during the 12-month period beginning on the date of the enactment of this paragraph, charge policyholders choosing to pay premiums in monthly installments a fee for the total cost of the monthly collection of premiums not to exceed $25 annually; and
 (ii)after the expiration of the 12-month period referred to in clause (i), adjust the fee charged annually to cover the total cost of the monthly collection of premiums as determined by the report submitted pursuant to subparagraph (D).
 (D)ReportNot later than six months after the date of the enactment of this paragraph, the Comptroller General shall submit a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, that sets forth all of the costs associated with the monthly payment of premiums, including any up-front costs associated with infrastructure development, the impact on all policyholders including those that exercise the option to pay monthly and those that do not, options for minimizing the costs, particularly the costs to policyholders, and the feasibility of adopting practices that serve to minimize costs to policyholders such as automatic payments and electronic payments.
 (E)Annual reportsOn an annual basis, the Administrator shall report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate the ongoing costs associated with the monthly payment of premiums..
 (b)ImplementationClause (ii) of section 1307(a)(1)(B) (42 U.S.C. 4014(a)(1)(B)(ii)) is amended by inserting before any administrative expenses the following: the costs associated with the monthly collection of premiums provided for in section 1308(g) (42 U.S.C. 4015(g)), but only if such costs exceed the operating costs and allowances set forth in clause (i) of this subparagraph, and.


116 HR 3474 IH: To amend title 49, United States Code, to include truck combinations in the definition of automobile transporter for purposes of certain length limitations.
U.S. House of Representatives
2019-06-25
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.

I116th CONGRESS1st SessionH. R. 3474IN THE HOUSE OF REPRESENTATIVESJune 25, 2019Mr. Luetkemeyer introduced the following bill; which was referred to the Committee on Transportation and InfrastructureA BILLTo amend title 49, United States Code, to include truck combinations in the definition of automobile transporter for purposes of certain length limitations.
1.Length limitations for automobile transportersSection 31111(a)(1) of title 49, United States Code, is amended by inserting and truck tractors attached to trailers designed for the transportation of assembled highway vehicles after camper units.


		II

		109th CONGRESS

		1st Session

		S. 1226

		IN THE SENATE OF THE UNITED

		  STATES

			June 13, 2005

			Mr. Akaka introduced the

			 following bill; which was read twice and referred to the

			 Committee on the

			 Judiciary

		A BILL

		To provide jurisdiction over Federal

		  contractors who engage in human trafficking offenses.

		1.Short titleThis Act may be cited as the

			 Federal Contractor Extraterritorial

			 Jurisdiction for Human Trafficking Offenses Act of

			 2005.

		2.Federal contractor

			 extraterritorial jurisdictionChapter 77 of title 18, United States Code,

			 is amended by adding at the end the following:

				1596.Federal contractor

				extraterritorial jurisdiction

					(a)Whoever, while a Federal contractor,

				engages in conduct outside the United States that would constitute a violation

				of this chapter punishable by imprisonment for more than 1 year if the conduct

				had been engaged in within the special maritime and territorial jurisdiction of

				the United States shall be punished as provided for that offense.

					(b)No prosecution may be commenced against a

				person under this section if a foreign government, in accordance with

				jurisdiction recognized by the United States, has prosecuted or is prosecuting

				such person for the conduct constituting such offense, except upon the approval

				of the Attorney General or the Deputy Attorney General (or a person acting in

				either such capacity), which function of approval may not be delegated.

					(c)An individual who is a victim of a

				violation of this chapter by a Federal contractor may bring a civil action

				against the perpetrator under section 1595 if a civil action would have been

				authorized under section 1595 had the conduct been engaged in within the

				special maritime and territorial jurisdiction of the United States.

					(d)As used in this section, the term

				Federal contractor means a person who—

						(1)is employed as a contractor (including a

				subcontractor at any tier), or as an employee of a contractor (or subcontractor

				at any tier), of any executive agency, as that term is defined in section 4(1)

				of the Office of Federal Procurement Policy Act (41 U.S.C. 403(1));

						(2)is present or residing outside the United

				States in connection with such employment; and

						(3)is not a national of or ordinarily resident

				in the country where the violation

				occurred.

						.


115 HR 3535 RH: Ruffey Rancheria Restoration Act of 2018
U.S. House of Representatives
2017-07-28
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.

		IB
		Union Calendar No. 843
		115th CONGRESS2d Session
		H. R. 3535
		[Report No. 115–1087]
		IN THE HOUSE OF REPRESENTATIVES

			July 28, 2017
			Mr. LaMalfa introduced the following bill; which was referred to the Committee on Natural Resources

			December 20, 2018
			Reported with an amendment, committed to the Committee of the Whole House on the State of the
			 Union, and ordered to be printed
			Strike out all after the enacting clause and insert the part printed in italic
			For text of introduced bill, see copy of bill as introduced on July 28, 2017

		A BILL
		To restore Federal recognition to the Ruffey Rancheria of California, and for other purposes.

 1.Short titleThis Act may be cited as the Ruffey Rancheria Restoration Act of 2018. 2.Restoration of Federal recognition, rights, and privileges (a)Federal recognitionFederal recognition is hereby restored to the Tribe. Except as otherwise provided in this Act, all laws and regulations of general application to Indians and nations, tribes, or bands of Indians that are not inconsistent with any specific provision of this Act shall be applicable to the Tribe and its members.
 (b)Restoration of rights and privilegesExcept as provided in subsection (d), all rights and privileges of the Tribe and its members under any Federal treaty, Executive order, agreement, or statute, or under any other authority which were diminished or lost under the Act of August 18, 1958 (Public Law 85–671; 72 Stat. 619), are hereby restored, and the provisions of such Act shall be inapplicable to the Tribe and its members after the date of the enactment of this Act. Such Federal treaties and other authority shall not include any treaty, Executive Order, agreement, statute or other authority entered into in the Territory or State of Oregon or affecting any tribe or band of Indians whose historical territory was located therein.
			(c)Federal services and benefits
 (1)In generalWithout regard to the existence of a reservation, the Tribe and its members shall be eligible, on and after the date of the enactment of this Act, for all Federal services and benefits furnished to federally recognized Indian Tribes or their members. For the purposes of Federal services and benefits available to members of federally recognized Indian tribes residing on a reservation, members of the Tribe residing in the Tribe’s service area shall be deemed to be residing on a reservation.
 (2)Relation to other lawsThe eligibility on the part of the Tribe and its members for, or receipt of, services and benefits under paragraph (1) shall not be considered as income, resources, or otherwise when determining the eligibility for or computation of any payment or other benefit to such tribe, individual, or household under—
 (A)any financial aid program of the United States, including grants and contracts subject to the Indian Self-Determination Act; or
 (B)any other benefit to which such tribe, household, or individual would otherwise be entitled under any Federal or federally assisted program.
 (d)Hunting, fishing, trapping, gathering, and water rightsNothing in this Act shall expand, reduce, or affect in any manner any hunting, fishing, trapping, gathering, or water rights of the Tribe and its members, provided, that any such rights shall not extend into the Territory or State of Oregon.
 (e)Certain rights not alteredExcept as specifically provided in this Act, nothing in this Act shall alter any property right or obligation, any contractual right or obligation, or any obligation for taxes levied.
 (f)Rights of the Quartz Valley Indian ReservationNothing in this Act shall be construed as infringing upon or diminishing the territorial rights or sovereignty of the Quartz Valley Indian Reservation.
			3.Transfer of land to be held in trust
 (a)Lands to be taken in trustUpon application by the Tribe, the Secretary shall have the authority under this section to accept into trust for the benefit of the Tribe real property located in Siskiyou County, California, after the property is conveyed or otherwise transferred to the Secretary and if, at the time of such conveyance or transfer, there are no adverse legal claims to such property, including outstanding liens, mortgages, or taxes.
 (b)Former trust lands of the ruffey rancheriaSubject to the conditions specified in this section, real property eligible for trust status under this section shall include Indian owned fee land in Siskiyou County, California, that is held by persons listed as distributees or dependent members in the distribution plan approved by the Bureau of Indian Affairs and published in the Federal Register on April 11, 1961, or such distributees’ or dependent members’ Indian heirs or successors in interest, provided, that such lands shall not include any lands located within the boundaries of the State of Oregon.
 (c)Lands to be part of the reservationAny real property taken into trust for the benefit of the Tribe pursuant to this Act shall be part of the Tribe’s reservation.
 (d)Lands to be nontaxableAny real property taken into trust for the benefit of the Tribe pursuant to this section shall be exempt from all local, State, and Federal taxation as of the date that such land is transferred to the Secretary.
			4.Membership rolls
 (a)Compilation of tribal membership rollNot later than 1 year after the date of the enactment of this Act, the Secretary shall, after consultation with the Tribe, compile a membership roll of the Tribe.
			(b)Criteria for enrollments
 (1)Preconstitution rollUntil a tribal constitution is adopted pursuant to section 6, an individual shall be placed on the Ruffey Rancheria membership roll if the individual is living, is not an enrolled member of another federally recognized Indian tribe, and if—
 (A)such individual’s name was listed on the Ruffey Rancheria distribution list compiled by the Bureau of Indian Affairs and approved by the Secretary and published in the Federal Register on April 11, 1961, under Public Law 85–671;
 (B)such individual was not listed on, but met the requirements that had to be met to be listed on the Ruffey Rancheria distribution list; or
 (C)the individual is a lineal descendant of an individual, living or dead, identified in subparagraph (A) or (B), and has never been an enrolled member of any other Federally recognized Indian tribe.
 (2)Roll after adoption of constitutionAfter adoption of a tribal constitution under section 6, such tribal constitution shall govern membership in the Tribe.
 (c)Conclusive proof of ruffey rancheria Indian ancestryFor the purpose of subsection (b), the Secretary shall accept any available evidence establishing Ruffey Rancheria Indian ancestry. The Secretary shall accept as conclusive evidence of Ruffey Rancheria Indian ancestry information contained in the letter regarding certain lands purchased for the use of Ruffey and other Indians near Etna, California, sent by Charles E. Kelsey, Special Agent for the California Indians, to the Commissioner of Indian Affairs dated June 24, 1913; residence on or adjacent to lands purchased or leased in Siskiyou County, California, by Special Agent Charles E. Kelsey, provided that such lands were occupied by an individual with a bona fide relationship to the Ruffey Rancheria; and in the Ruffey Rancheria distribution list compiled by the Bureau of Indian Affairs and approved by the Secretary and published in the Federal Register on April 11, 1961.
 5.Interim governmentUntil a new tribal constitution and bylaws are adopted and become effective under section 6, the governing body of the Tribe shall be an Interim Council. The initial membership of the Interim Council shall consist of the members of the Executive Council of the Tribe on the date of the enactment of this Act, and the Interim Council shall continue to operate in the manner prescribed for the Executive Council under the tribal constitution of the Tribe adopted on December 19, 2014, as amended by Tribal Resolution 18-02, to the extent that such constitution is not contrary to Federal law. Any new members filling vacancies on the Interim Council shall meet the enrollment criteria set forth in section 4(b) and be elected in the same manner as are Executive Council members under the tribal constitution adopted December 19, 2014, as amended by Tribal Resolution 18-02.
		6.Tribal constitution
 (a)Election; time; procedureAfter the compilation of the tribal membership roll under section 4, upon the written request of the Interim Tribal Council, the Secretary shall conduct, by secret ballot, an election for the purpose of ratifying a final constitution for the Tribe. The election shall be held consistent with sections 16(c)(1) and 16(c)(2)(A) of the Act of June 18, 1934 (commonly known as the Indian Reorganization Act; 25 U.S.C. 5123(c)(1) and 5123(c)(2)(A), respectively). Absentee voting shall be permitted regardless of voter residence.
 (b)Election of tribal officials; proceduresNot later than 120 days after the Tribe ratifies a final constitution under subsection (a), the Secretary shall conduct an election by secret ballot for the purpose of electing tribal officials as provided in such tribal constitution. Such election shall be conducted consistent with the procedures specified in subsection (a) except to the extent that such procedures conflict with the tribal constitution.
 7.Limitations on Indian gaming on acquired landsIn addition to any other requirements under applicable Federal law, gaming conducted pursuant to an exception under subsection (b)(1)(B) of section 20 of the Indian Gaming Regulatory Act (25 U.S.C. 2719) shall not be conducted on any land taken into trust by the United States for the benefit of the Tribe unless the Secretary determines, on the date that the land is taken into trust, that—
 (1)the Tribe has received a written determination by the Secretary that the land is eligible to be used for gaming under such section; and
 (2)the land is located in the county of Siskiyou, California, 5 miles or less away from lands within such County taken into trust under section 3 of this Act.
 8.DefinitionsFor purposes of this Act: (1)Interim councilThe term Interim Council means the governing body of the Tribe specified in section 6.
 (2)MemberThe term member means any person meeting the enrollment criteria under section 4(b). (3)ReservationThe term reservation means those lands acquired and held in trust by the Secretary for the benefit of the Tribe pursuant to section 3.
 (4)SecretaryThe term Secretary means the Secretary of the Interior. (5)Service areaThe term service area means Siskiyou County in the State of California. Neither the Tribe’s service area nor its near-reservation area shall be extended into or located within the State of Oregon for any Federal or State program or service.
 (6)StateThe term State means the State of California. (7)TribeThe term Tribe means the Ruffey Rancheria of California.

		December 20, 2018
		Reported with an amendment, committed to the Committee of the Whole House on the State of the
			 Union, and ordered to be printed


116 SRES 644 IS: Expressing the sense of the Senate that the United States Postal Service should remain a strong and universal service for the people of the United States, and should receive an appropriation to offset revenues lost due to the COVID–19 emergency.
U.S. Senate
2020-07-01
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.

III116th CONGRESS2d SessionS. RES. 644IN THE SENATE OF THE UNITED STATESJuly 1, 2020Mr. Booker (for himself, Mr. Schumer, Mr. Peters, Mr. Blumenthal, Mr. Whitehouse, Mr. Carper, Mrs. Gillibrand, Mr. Jones, Mr. Coons, Mr. Reed, Ms. Baldwin, Mr. Sanders, Ms. Smith, Mr. Menendez, Ms. Rosen, Mr. Bennet, Mr. Udall, Mrs. Feinstein, Ms. Harris, Mr. Merkley, Mr. King, Ms. Sinema, Mr. Markey, Mrs. Murray, Mr. Tester, Mr. Durbin, Mr. Murphy, Ms. Hirono, Mr. Manchin, Mr. Cardin, Ms. Stabenow, Ms. Klobuchar, Mr. Brown, Ms. Duckworth, Ms. Warren, Mr. Van Hollen, Mr. Wyden, Ms. Cantwell, Ms. Hassan, Ms. Cortez Masto, Mrs. Shaheen, Mr. Heinrich, Mr. Schatz, Mr. Kaine, Mr. Casey, Mr. Leahy, and Mr. Warner) submitted the following resolution; which was referred to the Committee on Homeland Security and Governmental AffairsRESOLUTIONExpressing the sense of the Senate that the United States Postal Service should remain a strong and universal service for the people of the United States, and should receive an appropriation to offset revenues lost due to the COVID–19 emergency.Whereas the United States Postal Service is, by law, a basic and fundamental service provided to the people by the Government of the United States, authorized by the Constitution, created by Act of Congress, and supported by the people;Whereas the United States Postal Service is obligated under the law to provide prompt, reliable, and efficient services to patrons in all areas and render services to all communities, in such a way so that the costs of the Postal Service shall not be apportioned to impair the overall value of such service to the people;Whereas the United States Postal Service maintains a universal network that connects all rural, suburban, and urban communities in the United States;Whereas the United States Postal Service carries necessary correspondence and goods to each community, including prescriptions and critical medications;Whereas the United States Postal Service uniquely serves the last mile, delivering to every business and residential customer not fewer than 6 days per week;Whereas the United States Postal Service helps small businesses stay connected with their customers no matter where they live;Whereas more than 630,000 employees work for the United States Postal Service, including more than 97,000 military veterans, to carry out this mission; andWhereas the United States Postal Service is at the center of the mailing industry, which generates $1,600,000,000,000 annually and employs approximately 7,300,000 individuals in the United States: Now, therefore, be itThat it is the sense of the Senate—(1)that the United States Postal Service—(A)should not close post offices or facilities, especially in areas that would otherwise lack access to the services these facilities provide;(B)should not reduce its standards of service, or prevent individuals and businesses in every community from receiving their mail expediently and predictably;(C)should not unduly or excessively raise the prices of its products or services in such a way as to jeopardize the affordability and accessibility of such products and services in each community across the nation; and(D)should maintain prompt, reliable, and efficient services to all patrons affordably, as required under the law and by the people of the United States; and(2)that Congress should appropriate funds to offset lost revenues of the United States Postal Service during the COVID–19 emergency and should take all appropriate measures to ensure the United States Postal Service maintains its services and remains an accessible, independent establishment of the Federal Government.


		II
		111th CONGRESS
		2d Session
		S. 3206
		IN THE SENATE OF THE UNITED
		  STATES

			April 14, 2010
			Mr. Harkin (for himself,
			 Mrs. Boxer, Mr.
			 Begich, Mr. Bingaman,
			 Mr. Brown of Ohio,
			 Mr. Burris, Mr.
			 Dodd, Mr. Durbin,
			 Mr. Franken, Mrs. Gillibrand, Mr.
			 Kerry, Mr. Lautenberg,
			 Mr. Merkley, Ms. Mikulski, Mrs.
			 Murray, Mr. Schumer, and
			 Ms. Stabenow) introduced the following
			 bill; which was read twice and referred to the
			 Committee on Health, Education, Labor,
			 and Pensions

		A BILL
		To establish an Education Jobs
		  Fund.

		1.Short titleThis Act may be cited as the
			 Keep Our Educators Working Act of
			 2010.
		2.Retaining educators
			(a)Education jobs fundThere is appropriated, for fiscal year
			 2010, for necessary expenses for an Education Jobs Fund, $23,000,000,000. Such
			 amount shall be appropriated, out of any money in the Treasury not otherwise
			 appropriated, for the Department of Education. The amount shall remain
			 available for obligation by the Department through the date that is 180 days
			 after the date of enactment of this Act. The amount shall be administered by
			 the Secretary of Education under the terms and conditions of titles XIV and XV
			 of division A of the American Recovery and Reinvestment Act of 2009 (Public Law
			 111–5), subject to the provisions of subsection (b).
			(b)Special rules
				(1)Allotments to States and outlying
			 areasThe funds appropriated
			 under this Act shall be available only for allocations by the Secretary of
			 Education under subsections (a) and (d) of section 14001 of the American
			 Recovery and Reinvestment Act of 2009 (Public Law 111–5), except that the
			 Secretary may reserve not more than $1,000,000 for administration and oversight
			 of this Act, including for program administration.
				(2)Reservation by StateWith respect to funds appropriated under
			 this Act, a State that receives an allocation of such funds in accordance with
			 section 14001(d) of such Act may reserve a total of not more than 5 percent of
			 the State's allocation for—
					(A)the administrative costs of carrying out
			 the State's responsibilities with respect to such funds, except that in no case
			 shall the State reserve more than 1 percent of its total allocation for those
			 costs; and
					(B)the costs of retaining or creating
			 positions in the State educational agency or the State agency for higher
			 education, and other State agency positions related to the administration or
			 support of early childhood, elementary, secondary, or postsecondary
			 education.
					(3)Awards to local educational agencies and
			 public institutions of higher education
					(A)Use of fundsSubsections (a) and (b) of section 14002 of
			 the American Recovery and Reinvestment Act of 2009 (Public Law 111–5) shall not
			 apply to an allocation of funds appropriated under this Act. Except as provided
			 under paragraph (2), an allocation of such funds shall be used only for awards
			 to local educational agencies and public institutions of higher education for
			 the support of early childhood, elementary, secondary, and postsecondary
			 education in accordance with subparagraph (B).
					(B)Distribution by governor
						(i)In generalThe Governor of a State receiving an
			 allocation of funds appropriated under this Act shall use the appropriated
			 funds to award grants to local educational agencies (through the State’s
			 primary elementary and secondary funding formulae) and public institutions of
			 higher education in order to restore the reductions in State funding for
			 elementary and secondary education and for public institutions of higher
			 education, respectively, that remain for fiscal years 2010 and 2011, as
			 determined in accordance with clause (iv).
						(ii)Insufficient amount
							(I)In generalIn the case of a State that receives an
			 allocation of funds appropriated under this Act for a fiscal year that is less
			 than the amount necessary to carry out clause (i), the Governor of the State
			 shall distribute the State's allocation for such fiscal year between local
			 educational agencies (through the State’s primary elementary and secondary
			 funding formulae) and public institutions of higher education in proportion to
			 the relative reductions in State support for these two categories of education
			 for such fiscal year.
							(II)ExceptionThe Governor may adjust the amount of funds
			 awarded to local educational agencies (in the aggregate) and the amount of
			 funds awarded to public institutions of higher education (in the aggregate) for
			 a fiscal year pursuant to subclause (I) by increasing or decreasing such
			 amounts of funds by the amount that is not more than 10 percent of the larger
			 of the 2 amounts of funds.
							(iii)Distribution of excess amountIn the case of a State that receives an
			 allocation of funds appropriated under this Act that is more than the amount
			 necessary to carry out clause (i), the Governor of the State shall use any
			 funds remaining after the application of clause (i) to provide local
			 educational agencies in the State with awards, based on the local educational
			 agencies' relative shares of funds under part A of title I of the Elementary
			 and Secondary Education Act of 1965 (20 U.S.C. 6311 et seq.) for the most
			 recent fiscal year for which data are available.
						(iv)Calculation of reductionsFor purposes of calculating reductions in
			 State funding under this subparagraph for a fiscal year—
							(I)the amount of reductions in State funding
			 for elementary and secondary education or for public institutions of higher
			 education for a fiscal year shall be determined by comparing the level of such
			 State funding for such fiscal year with the level of such State funding for the
			 preceding fiscal year; and
							(II)the levels of such State funding shall
			 include any funds received by the State under section 14001(d) of the American
			 Recovery and Reinvestment Act of 2009 (Public Law 111–5) and, for fiscal year
			 2011, any funds received by the State under this section for fiscal year
			 2010.
							(4)Inapplicability of education reform
			 assurancesSubsection (b),
			 and paragraphs (2) through (5) of subsection (d), of section 14005 of the
			 American Recovery and Reinvestment Act of 2009 (Public Law 111–5) shall not
			 apply to any application for an allocation of funds appropriated under this Act
			 from a State that has an approved application for Phase II of the State Fiscal
			 Stabilization Fund under title XIV of division A of such Act that was submitted
			 in accordance with the application notice published in the Federal Register on
			 November 17, 2009 (74 Fed. Reg. 59142).
				(5)Requirement to use funds to retain or
			 create education jobsNotwithstanding sections 14003(a) and
			 14004(a) of such Act, funds appropriated under this Act may be used only
			 for—
					(A)compensation and benefits and other
			 expenses necessary to retain existing employees, and for the hiring of new
			 employees, in order to provide early childhood, elementary, secondary, or
			 postsecondary educational and related services; or
					(B)on-the-job training activities, as defined
			 in section 101(31) of the Workforce Investment Act of 1998 (29 U.S.C.
			 2801(31)), for education-related careers.
					(6)Prohibition on use of funds for rainy day
			 funds or debt retirement
					(A)In generalSubject to subparagraph (B), a State that
			 receives an allocation of funds appropriated under this Act may not use such
			 funds to—
						(i)establish, restore, or supplement a reserve
			 or rainy day fund of the State or to supplant State funds in a manner that has
			 the effect of establishing, restoring, or supplementing a reserve or rainy day
			 fund; or
						(ii)reduce or retire debt obligations incurred
			 by the State or to supplant State funds in a manner that has the effect of
			 reducing or retiring debt obligations incurred by the State.
						(B)ExceptionSubparagraph (A) shall not apply to fund
			 balances that are necessary to comply with any State requirement to maintain a
			 balanced budget.
					(7)Application considerationsIf, by a date set by the Secretary of
			 Education, a Governor has not submitted an approvable application under section
			 14005(a) of the American Recovery and Reinvestment Act of 2009 (Public Law
			 111–5), the Secretary may provide for the distribution of funds appropriated
			 under this Act that are allocated under section 14001(d) of the American
			 Recovery and Reinvestment Act of 2009 for the State to 1 or more other entities
			 in the State, in such amounts and under such terms and conditions as the
			 Secretary may establish, as long as all terms and conditions that apply to the
			 appropriation under this Act shall apply to such funds distributed to such
			 entity or entities.
				(8)Local educational agency
			 applicationThe requirements
			 of section 442 of the General Education Provisions Act (20 U.S.C. 1232e) shall
			 not apply to a local educational agency that has previously submitted an
			 application to the State under title XIV of division A of the American Recovery
			 and Reinvestment Act of 2009 (Public Law 111–5) and wishes to receive funds
			 appropriated under this Act, as the assurances provided under the previous
			 application shall continue to apply to funds awarded under this Act.
				(9)Maintenance of effort
					(A)In generalIn order for a State to receive an
			 allocation of funds appropriated under this Act, the Governor of a State shall,
			 in lieu of the assurances required under section 14005(d)(1) of the American
			 Recovery and Reinvestment Act of 2009 (Public Law 111–5), provide assurances to
			 the Secretary of Education that, for each of fiscal years 2010 and 2011, the
			 State will—
						(i)meet the requirements of section
			 14005(d)(1) for such fiscal year; or
						(ii)provide, for elementary and secondary
			 education and for public institutions of higher education (not including
			 support for capital projects or for research and development or tuition and
			 fees paid by students), percentages of the total revenues available to the
			 State for each fiscal year that—
							(I)for fiscal year 2010, are not less than
			 such percentages, respectively, for fiscal year 2006; and
							(II)for fiscal year 2011, are not less than
			 such percentages, respectively, for fiscal year 2009.
							(B)Inapplicable requirementSection 14012(c) of the American Recovery
			 and Reinvestment Act of 2009 (Public Law 111–5) shall not apply with respect to
			 any allocations made for fiscal year 2011 from funds appropriated under this
			 Act.
					(10)Period for obligation of
			 fundsThe Secretary of
			 Education may extend the period of time available to States and recipients of
			 awards under this section to obligate the funds appropriated under this Act for
			 one additional fiscal year beyond the period provided for under section
			 421(b)(1) of the General Education Provisions Act (20 U.S.C.
			 1225(b)(1)).
				3.Emergency designationThis Act is designated as an emergency
			 requirement pursuant to section 403(a) of S. Con. Res. 13 (111th Congress), the
			 concurrent resolution on the budget for fiscal year 2010.


113 S1396 IS: To authorize the Federal Emergency Management Agency to award mitigation financial assistance in certain areas affected by wildfires.
U.S. Senate
2013-07-30
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
		113th CONGRESS
		1st Session
		S. 1396
		IN THE SENATE OF THE UNITED STATES

			July 30, 2013
			Mr. Udall of Colorado
			 (for himself and Mr. Inhofe) introduced
			 the following bill; which was read twice and referred to the
			 Committee on Homeland Security and
			 Governmental Affairs

		A BILL
		To authorize the Federal Emergency Management Agency to
		  award mitigation financial assistance in certain areas affected by
		  wildfires.

		1.Wildfire mitigation
			 assistance
			(a)In
			 generalSection 420 of the
			 Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C.
			 5187) is amended—
				(1)by redesignating subsection (d) as
			 subsection (e); and
				(2)by inserting
			 after subsection (c) the following:

						(d)Post disaster
				mitigation assistanceThe President may provide hazard mitigation
				assistance in accordance with section 404 in any area in which assistance was
				provided under this section, whether or not a major disaster had been
				declared.
						.
				(b)Conforming
			 amendmentsThe Robert T. Stafford Disaster Relief and Emergency
			 Assistance Act (42 U.S.C. 5121 et seq.) is amended—
				(1)in section 404(a)
			 (42 U.S.C. 5170c(a))—
					(A)by inserting
			 before the first period , or any area in which assistance was provided
			 under section 420; and
					(B)in the third
			 sentence, by inserting or event under section 420 after
			 major disaster each place that term appears; and
					(2)in section 322
			 (e)(1) (42 U.S.C. 5165(e)(1)), by inserting or event under section
			 420 after major disaster each place that term
			 appears.