In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.

Example Input: SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) Short Title.--This Act may be cited as the ''Keeping Families
Together Act of 2001''.
(b) Table of Contents.--The table of contents of this Act is as
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Restoration of definition of aggravated felony (repeal of
section 321 of IIRIRA).
Sec. 3. Restoration of detention policy.
Sec. 4. Repeal of time stop provisions.
Sec. 5. Repeal of section 101(a)(48).
Sec. 6. Restoration of section 212(c).
Sec. 7. Restoration of judicial review provisions.
Sec. 8. Post-proceeding relief for affected aliens.

SEC. 2. RESTORATION OF DEFINITION OF AGGRAVATED FELONY (REPEAL OF
SECTION 321 OF IIRIRA).

(a) In General.--Effective as if included in the enactment of the
Illegal Immigration Reform and Immigrant Responsibility Act of 1996
(division C of Public Law 104-208), section 321 of such Act is repealed
and the provisions of law amended by such section are restored as if
such section had not been enacted.
(b) Restoration of Rights.--Any alien whose legal permanent
resident status, application for permanent residence, or application
for cancellation of removal, was affected by the changes in the
definition of ''aggravated felony'' made by such section 321 may apply
to the Attorney General to be considered for adjustment of status or
cancellation of removal in conformance with the provisions of section
101(a)(43) of the Immigration and Nationality Act, as restored by
subsection (a).

SEC. 3. RESTORATION OF DETENTION POLICY.

(a) In General.--Section 236(c) of the Immigration and Nationality
Act (8 U.S.C. 1226(c)) is amended to read as follows:
''(c) Detention of Criminal Aliens.--
''(1) In general.--The Attorney General shall take into
custody any alien convicted of an aggravated felony upon
release of the alien (regardless of whether or not such release
is on parole, supervised release, or probation, and regardless
of the possibility of rearrest or further confinement in
respect of the same offense). Notwithstanding subsection (a) or
section 241(a) but subject to paragraph (2), the Attorney
General shall not release such felon from custody.
''(2) Non-release.--The Attorney General may not release
from custody any who has been convicted of an aggravated
felony, either before or after a determination of removability,
unless--
''(A)(i) the alien was lawfully admitted, or
''(ii) the alien was not lawfully admitted but the
alien cannot be removed because the designated country
of removal will not accept the alien; and
''(B) the alien satisfies the Attorney General that
the alien will not pose a danger to the safety of other
persons or of property and is likely to appear for any
scheduled proceeding.''.
(b) Effective Date.--The amendment made by subsection (a) shall be
effective as if included in the Illegal Immigration Reform and
Immigrant Responsibility Act of 1996.

SEC. 4. REPEAL OF TIME STOP PROVISIONS.

(a) In General.--Section 240A(d) of the Immigration and Nationality
Act (8 U.S.C. 1229b(d)) is repealed.
(b) Effective Date.--The repeal made by subsection (a) shall be
effective as if included in the enactment of subtitle A of title III of
the Illegal Immigration Reform and Immigrant Responsibility Act of
1996.

SEC. 5. REPEAL OF SECTION 101(A)(48).

(a) In General.--Paragraph (48) of section 101(a)(48) of the
Immigration and Nationality Act (8 U.S.C. 1101(a)) is repealed.
(b) Effective Date.--The repeal made by subsection (a) shall take
effect as if included in the enactment of section 322(a) of the Illegal
Immigration Reform and Immigrant Responsibility Act of 1996.

SEC. 6. RESTORATION OF SECTION 212(C).

(a) In General.--Section 212 of the Immigration and Nationality Act
(8 U.S.C. 1182) is amended by inserting after subsection (b) the
following new subsection:
''(c) Aliens lawfully admitted for permanent residence who
temporarily proceeded abroad voluntarily and not under an order of
deportation or removal, and who are returning to a lawful
unrelinquished domicile of seven consecutive years, may be admitted in
the discretion of the Attorney General without regard to the provisions
of subsection (a) (other than paragraphs (3) and (10)(C)). Nothing
contained in this subsection shall limit the authority of the Attorney
General to exercise the discretion vested in him under section 211(b).
The first sentence of this subsection shall not apply to an alien who
has been convicted of one or more aggravated felonies and has served
for such felony or felonies a term of imprisonment of at least 5
years.''.
(b) Effective Date.--The amendment made by subsection (a) applies
as of April 24, 1996, as if section 440(d) of the Antiterrorism and
Effective Death Penalty Act of 1996 (Public Law 104-132) and section
304(b) of Illegal Immigration Reform and Immigrant Responsibility Act
of 1996 (division C of Public Law 104-208) had not been enacted.

SEC. 7. RESTORATION OF JUDICIAL REVIEW PROVISIONS.

(a) In General.--Section 242 of the Immigration and Nationality Act
(8 U.S.C. 1252) is amended to read as follows:

''judicial review of orders of removal

''Sec. 242. (a) The procedure prescribed by, and all the provisions
of chapter 158 of title 28, United States Code, shall apply to, and
shall be the sole and exclusive procedure for, the judicial review of
all final orders of removal heretofore or hereafter made against aliens
within the United States pursuant to administrative proceedings under
section 240 of this Act or comparable provisions of any prior Act,
except that--
''(1) a petition for review may be filed not later than 90
days after the date of the issuance of the final removal order,
or, in the case of an alien convicted of an aggravated felony
not later than 30 days after the issuance of such order;
''(2) the venue of any petition for review under this
section shall be in the judicial circuit in which the
administrative proceedings before an immigration judge were
conducted in whole or in part, or in the judicial circuit
wherein is the residence, as defined in this Act, of the
petitioner, but not in more than one circuit;
''(3) the action shall be brought against the Immigration
and Naturalization Service, as respondent. Service of the
petition to review shall be made upon the Attorney General of
the United States and upon the official of the Immigration and
Naturalization Service in charge of the Service district in
which the office of the clerk of the court is located. The
service of the petition for review upon such official of the
Service shall stay the removal of the alien pending
determination of the petition by the court, unless the court
otherwise directs or unless the alien is convicted of an
aggravated felony, in which case the Service shall not stay the
removal of the alien pending determination of the petition of
the court unless the court otherwise directs;
''(4) except as provided in clause (B) of paragraph (5) of
this subsection, the petition shall be determined solely upon
the administrative record upon which the removal order is based
and the Attorney General's findings of fact, if supported by
reasonable, substantial, and probative evidence on the record
considered as a whole, shall be conclusive;
''(5) whenever any petitioner, who seeks review of an order
under this section, claims to be a national of the United
States and makes a showing that his claim is not frivolous, the
court shall (A) pass upon the issues presented when it appears
from the pleadings and affidavits filed by the parties that no
genuine issue of material fact is presented; or (B) where a
genuine issue of material fact as to the petitioner's
nationality is presented, transfer the proceedings to a United
States district court for the district where the petitioner has
his residence for hearing de novo of the nationality claim and
determination as if such proceedings were originally initiated
in the district court under the provisions of section 2201 of
title 28, United States Code. Any such petitioner shall not be
entitled to have such issue determined under section 360(a) of
this Act or otherwise;
''(6) whenever a petitioner seeks review of an order under
this section, any review sought with respect to a motion to
reopen or reconsider such an order shall be consolidated with
the review of the order;
''(7) if the validity of a removal order has not been
judicially determined, its validity may be challenged in a
criminal proceeding against the alien for violation of
subsection (a) or (b) of section 243 of this Act only by
separate motion for judicial review before trial. Such motion
shall be determined by the court without a jury and before the
trial of the general issue. Whenever a claim to United States
nationality is made in such motion, and in the opinion of the
court, a genuine issue of material fact as to the alien's
nationality is presented, the court shall accord him a hearing
de novo on the nationality claim and determine that issue as if
proceedings had been initiated under the provisions of section
2201 of title 28, United States Code. Any such alien shall not
be entitled to have such issue determined under section 360(a)
of this Act or otherwise. If no such hearing de novo as to
nationality is conducted, the determination shall be made
solely upon the administrative record upon which the removal
order is based and the Attorney General's findings of fact, if
supported by reasonable, substantial, and probative evidence on
the record considered as a whole, shall be conclusive. If the
removal order is held invalid, the court shall dismiss the
indictment and the United States shall have the right to appeal
to the court of appeals within 30 days. The procedure on such
appeals shall be as provided in the Federal rules of criminal
procedure. No petition for review under this section may be
filed by any alien during the pendency of a criminal proceeding
against such alien for violation of subsection (a) or (b) of
section 243 of this Act;
''(8) nothing in this section shall be construed to require
the Attorney General to defer removal of an alien after the
issuance of a removal order because of the right of judicial
review of the order granted by this section, or to relieve any
alien from compliance with subsections (a) and (b) of section
243 of this Act. Nothing contained in this section shall be
construed to preclude the Attorney General from detaining or
continuing to detain an alien or from taking the alien into
custody pursuant to section 241 of this Act at any time after
the issuance of a removal order;
''(9) it shall not be necessary to print the record or any
part thereof, or the briefs, and the court shall review the
proceedings on a typewritten record and on typewritten briefs;
and
''(10) any alien held in custody pursuant to an order of
removal may obtain judicial review thereof by habeas corpus
proceedings.
''(b) Notwithstanding the provisions of any other law, any alien
against whom a final order of removal has been made heretofore or
hereafter under the provisions of section 235 of this Act or comparable
provisions of any prior Act may obtain judicial review of such order by
habeas corpus proceedings and not otherwise.
''(c) An order of removal shall not be reviewed by any court if the
alien has not exhausted the administrative remedies available to the
alien as of right under the immigration laws and regulations or if the
alien has departed from the United States after the issuance of the
order. Every petition for review or for habeas corpus shall state
whether the validity of the order has been upheld in any prior judicial
proceeding, and, if so, the nature and date thereof, and the court in
which such proceeding took place. No petition for review or for habeas
corpus shall be entertained if the validity of the order has been
previously determined in any civil or criminal proceeding, unless the
petition presents grounds which the court finds could not have been
presented in such prior proceeding, or the court finds that the remedy
provided by such prior proceeding was inadequate or ineffective to test
the validity of the order.
''(d)(1) A petition for review or for habeas corpus on behalf of an
alien against whom a final order of removal has been issued pursuant to
section 238(b) may challenge only--
''(A) whether the alien is in fact the alien described in
the order;
''(B) whether the alien is in fact an alien described in
section 238(b)(2);
''(C) whether the alien has been convicted of an aggravated
felony and such conviction has become final; and
''(D) whether the alien was afforded the procedures
required by section 238(b)(4).
''(2) No court shall have jurisdiction to review any issue other
than an issue described in paragraph (1).''.
(b) Effective Date.--The amendment made by subsection (a) shall
take effect on the date of the enactment of this Act and shall apply to
determinations pending on or after such date with respect to which--
(1) a final administrative decision has been not been
rendered as of such date; or
(2) such a decision has been rendered but the period for
seeking judicial review of the decision has not expired.

SEC. 8. POST-PROCEEDING RELIEF FOR AFFECTED ALIENS.

(a) In General.--Notwithstanding section 240(c)(6) of the
Immigration and Nationality Act (8 U.S.C. 1229a(c)(6)) or any other
limitation imposed by law on motions to reopen removal proceedings, the
Attorney General shall establish a process (whether through permitting
the reopening of a removal proceeding or otherwise) under which an
alien--
(1) who is (or was) in removal proceedings before the date
of the enactment of this Act (whether or not the alien has been
removed as of such date); and
(2) whose eligibility for cancellation of removal has been
established by this Act;
may apply (or reapply) for cancellation of removal under section
240A(a) of the Immigration and Nationality Act (8 U.S.C. 1229b(a)) as a
beneficiary of the relief provided under this Act.
(b) Parole.--The Attorney General should exercise the parole
authority under section 212(d)(5)(A) of the Immigration and Nationality
Act (8 U.S.C. 1182(d)(5)(A)) for the purpose of permitting aliens
removed from the United States to participate in the process
established under subsection (a).
Example Output: Keeping Families Together Act of 2001 - Amends the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 (Act) to repeal the provision amending the definition of "aggravated felony," and restore provisions of law amended by such provision as if it had not been enacted, including residency-or status-related rights of an affected legal alien. Amends the Immigration and Nationality Act to revise detention of criminal alien provisions, effective as if included in the Act. Repeals, as if included in the Act: (1) certain provisions respecting termination of continuous presence or physical presence in the United States; and (2) the definition of "conviction."Authorizes the Attorney General to admit certain lawfully admitted permanent resident aliens returning to the United States who temporarily proceeded abroad voluntarily and not under an order of deportation or removal, effective as of a specified date, as if certain sections of the Antiterrorism and Effective Death Penalty Act of 1996 and the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 had not been enacted. Revises provisions respecting judicial review of removal orders.Requires the Attorney General to establish a post-proceeding removal relief process for affected aliens.

Example Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''End-User Protection Act of 2014''.

SEC. 2. DEFINITIONS.

(a) In General.--Section 1a of the Commodity Exchange Act (7 U.S.C.
1a) is amended--
(1) by redesignating paragraphs (8) through (51) as
paragraphs (9) through (52), respectively;
(2) by inserting after paragraph (7) the following:
''(8) Commercial market participant.--The term 'commercial
market participant' means any producer, processor, merchant, or
commercial user of an exempt or agricultural commodity, or the
products or by-products of an exempt or agricultural
commodity.'';
(3) in subparagraph (B) of paragraph (48) (as so
redesignated), by striking clause (ii) and inserting the
following:
''(ii) any purchase or sale of a
nonfinancial commodity or security for deferred
shipment or delivery, so long as the
transaction is intended to be physically
settled, including any stand-alone or embedded
option for which exercise would result in a
physical delivery obligation;''; and
(4) in paragraph (50) (as redesignated by paragraph (1)),
by striking subparagraph (D) and inserting the following:
''(D) De minimis exception.--
''(i) In general.--The Commission shall
exempt from designation as a swap dealer an
entity that engages in a de minimis quantity of
swap dealing (which shall not be less than
$8,000,000,000) in connection with transactions
with or on behalf of its customers.
''(ii) Regulations.--The Commission shall
promulgate regulations to establish the factors
to be used in a determination under clause (i)
to exempt, including any monetary or other
levels established by the Commission, and those
levels shall only be amended or changed through
an affirmative action of the Commission
undertaken by rule or regulation.''.
(b) Financial Entity.--Section 2(h)(7)(C) of the Commodity Exchange
Act (7 U.S.C. 2(h)(7)(C)) is amended--
(1) in clause (iii)--
(A) by striking ''an entity whose'' and inserting
the following: ''an entity--
''(I) whose'';
(B) by striking the period at the end and inserting
a semicolon; and
(C) by adding at the end the following:
''(II) that is--
''(aa) a commercial market
participant;
''(bb) included in clause
(i)(VIII); and
''(cc) not supervised by a
prudential regulator; or
''(III) that is included in clause
(i)(VIII) because--
''(aa) the entity regularly
enters into foreign exchange or
derivatives transactions on
behalf of, or to hedge or
mitigate, whether directly or
indirectly, the commercial risk
of 1 or more entities within
the same commercial enterprise
as the entity; or
''(bb) of the making of
loans to 1 or more entities
within the same commercial
enterprise as the entity.'';
and
(2) by adding at the end the following:
''(iv) Same commercial enterprise.--For
purposes of clause (iii)(III), an entity shall
be considered to be within the same commercial
enterprise as another entity if--
''(I) 1 of the entities owns,
directly or indirectly, at least a
majority ownership interest in the
other entity and reports its financial
statements on a consolidated basis and
the consolidated financial statements
include the financial results of both
entities; or
''(II) a third party owns at least
a majority ownership interest in both
entities and reports its financial
statements on a consolidated basis and
the financial statements of the third
party include the financial results of
both entities.
''(v) Predominantly engaged.--
''(I) In general.--Not later than
90 days after the date of enactment of
this clause, the Commission shall
promulgate regulations defining the
term 'predominantly engaged' for
purposes of clause (i)(VIII).
''(II) Minimum revenues.--The
regulations shall provide that an
entity shall not be considered to be
predominantly engaged in activities
that are in the business of banking or
financial in nature if the consolidated
revenues of the entity derived from the
activities constitute less than a
percentage (as specified by the
Commission in the regulations) of the
total consolidated revenues of the
entity.
''(III) Revenues from banking or
financial activities.--In determining
the percentage of the revenues of an
entity that are derived from activities
that are in the business of banking or
financial in nature, the regulations
shall exclude all revenues that are or
result from foreign exchange or
derivatives transactions used to hedge
or mitigate commercial risk (as defined
by the Commission in the
regulations).''.

SEC. 3. REPORTING OF ILLIQUID SWAPS SO AS TO NOT DISADVANTAGE CERTAIN
NON-FINANCIAL END USERS.

Section 2(a)(13) of the Commodity Exchange Act (7 U.S.C. 2(a)(13))
is amended--
(1) in subparagraph (C), by striking ''The Commission'' and
inserting ''Except as provided in subparagraph (D), the
Commission'';
(2) by redesignating subparagraphs (D) through (G) as
subparagraphs (E) through (H), respectively; and
(3) by inserting after subparagraph (C) the following:
''(D) Requirements for swap transactions in
illiquid markets.--
''(i) Definition of illiquid markets.--In
this subparagraph, the term 'illiquid markets'
means any market in which the volume and
frequency of trading in swaps is at such a
level as to allow identification of individual
market participants.
''(ii) Requirements.--Notwithstanding
subparagraph (C), the Commission shall--
''(I) provide by rule for the
public reporting of swap transactions,
including price and volume data, in
illiquid markets that are not cleared
and entered into by a nonfinancial
entity that is hedging or mitigating
commercial risk in accordance with
subsection (h)(7)(A); and
''(II) ensure that the swap
transaction information described in
subclause (I) is available to the
public not sooner than 30 days after
the swap transaction has been executed
or at such later date as the Commission
determines appropriate to protect the
identity of participants and positions
in illiquid markets and to prevent the
elimination or reduction of market
liquidity.''.

SEC. 4. TREATMENT OF AFFILIATES.

Section 2(h)(7)(D)(i) of the Commodity Exchange Act (7 U.S.C.
2(h)(7)(D)(i)) is amended--
(1) by striking ''An affiliate'' and inserting ''A person
that is a financial entity and is an affiliate'';
(2) by striking ''(including affiliate entities
predominantly engaged in providing financing for the purchase
of the merchandise or manufactured goods of the person)''; and
(3) by striking ''and as an agent''.

SEC. 5. APPLICABILITY TO BONA FIDE HEDGE TRANSACTIONS OR POSITIONS.

Section 4a(c) of the Commodity Exchange Act (7 U.S.C. 6a(c)) is
amended--
(1) in the second sentence of paragraph (1), by striking
''into the future for which'' and inserting ''in the future, to
be determined by the Commission, for which either an
appropriate swap is available or''; and
(2) in paragraph (2)--
(A) in the matter preceding subparagraph (A), by
striking ''subsection (a)(2)'' and all that follows
through ''position that--'' and inserting ''paragraphs
(2) and (5) of subsection (a) for swaps, contracts of
sale for future delivery, or options on the contracts
or commodities, a bona fide hedging transaction or
position is a transaction or position that--''; and
(B) in subparagraph (A)(ii), by striking ''of
risks'' and inserting ''or management of current or
anticipated risks''; and
(3) by adding at the end the following:
''(3) Commission definition.--The Commission may further
define, by rule or regulation, what constitutes a bona fide
hedging transaction or position so long as the rule or
regulation is consistent with the requirements of subparagraphs
(A) and (B) of paragraph (2).''.

SEC. 6. REPORTING AND RECORDKEEPING.

Section 4g(f) of the Commodity Exchange Act (7 U.S.C. 6g(f)) is
amended--
(1) by striking ''(f) Nothing contained in this section''
and inserting the following:
''(f) Authority of Commission To Make Separate Determinations
Unimpaired.--
''(1) In general.--Except as provided in paragraph (2),
nothing in this section''; and
(2) by adding at the end the following:
''(2) Exception.--If the Commission imposes any requirement
under this section on any person that is not registered, or
required to be registered, with the Commission in any capacity,
that person shall satisfy the requirements of any rule, order,
or regulation under this section by maintaining a written
record of each cash or forward transaction related to a
reportable or hedging commodity interest transaction, futures
contract, option on a futures contract, or swap.
''(3) Sufficiency.--A written record described in paragraph
(2) shall be sufficient if the written record--
''(A) memorializes the final agreement between the
parties, including the material economic terms of the
transaction; and
''(B) is identifiable and searchable by
transaction.''.

SEC. 7. MARGIN REQUIREMENTS.

(a) Commodity Exchange Act Amendment.--Section 4s(e) of the
Commodity Exchange Act (7 U.S.C. 6s(e)) is amended by adding at the end
the following:
''(4) Applicability with respect to counterparties.--The
requirements of paragraphs (2)(A)(ii) and (2)(B)(ii), including
the initial and variation margin requirements imposed by rules
adopted pursuant to paragraphs (2)(A)(ii) and (2)(B)(ii), shall
not apply to a swap in which a counterparty qualifies for an
exception under section 2(h)(7)(A) or 2(h)(7)(D), or an
exemption issued under section 4(c)(1) from the requirements of
section 2(h)(1)(A) for cooperative entities as defined in that
exemption.''.
(b) Securities Exchange Act Amendment.--Section 15F(e) of the
Securities Exchange Act of 1934 (15 U.S.C. 78o-10(e)) is amended by
adding at the end the following:
''(4) Applicability with respect to counterparties.--The
requirements of paragraphs (2)(A)(ii) and (2)(B)(ii) shall not
apply to a security-based swap in which a counterparty
qualifies for an exception under section 3C(g)(1) or satisfies
the criteria in section 3C(g)(4).''.
(c) Implementation.--The amendments made by this section to the
Commodity Exchange Act (7 U.S.C. 1 et seq.) shall be implemented--
(1) without regard to--
(A) chapter 35 of title 44, United States Code; and
(B) the notice and comment provisions of section
553 of title 5, United States Code;
(2) through the promulgation of an interim final rule,
pursuant to which public comment is sought before a final rule
is issued; and
(3) such that paragraph (1) shall apply solely to changes
to rules and regulations, or proposed rules and regulations,
that are limited to and directly a consequence of the
amendments.

SEC. 8. ANALYSIS BY THE COMMODITY FUTURES TRADING COMMISSION OF THE
COSTS AND BENEFITS OF REGULATIONS AND ORDERS.

Section 15(a) of the Commodity Exchange Act (7 U.S.C. 19(a)) is
amended by striking paragraphs (1) and (2) and inserting the following:
''(1) In general.--Before promulgating a regulation under
this Act or issuing an order (except as provided in paragraph
(3)), the Commission, acting through the Office of the Chief
Economist, shall--
''(A) state a justification for the regulation or
order;
''(B) state the baseline for the cost-benefit
analysis and explain how the regulation or order
measures costs against the baseline;
''(C) assess the costs and benefits, both
qualitative and quantitative, of the intended
regulation or order;
''(D) measure, and seek to improve, the actual
results of regulatory requirements; and
''(E) propose or adopt a regulation or order only
on a reasoned determination that the benefits of the
intended regulation or order justify the costs of the
intended regulation or order (recognizing that some
benefits and costs are difficult to quantify).
''(2) Considerations.--In making a reasoned determination
of costs and benefits under paragraph (1), the Commission shall
consider--
''(A) the protection of market participants and the
public;
''(B) the efficiency, competitiveness, and
financial integrity of futures and swaps markets;
''(C) the impact on market liquidity in the futures
and swaps markets;
''(D) price discovery;
''(E) sound risk management practices;
''(F) the cost of available alternatives to direct
regulation;
''(G) the degree and nature of the risks posed by
various activities within the scope of the jurisdiction
of the Commission;
''(H) whether, consistent with obtaining regulatory
objectives, the regulation or order is tailored to
impose the least burden on society, including market
participants, individuals, businesses of differing
sizes, and other entities (including small communities
and governmental entities), taking into account, to the
extent practicable, the cumulative costs of regulations
and orders;
''(I) whether the regulation or order is
inconsistent, incompatible, or duplicative of other
Federal regulations and orders; and
''(J) whether, in choosing among alternative
regulatory approaches, those approaches maximize net
benefits (including potential economic, environmental,
and other benefits, distributive impacts, and
equity).''.
Example Output: End-User Protection Act of 2014 - Amends the Commodity Exchange Act with respect to exceptions to the requirement that any swap be cleared by a derivatives clearing organization either registered under that Act, or exempted from registration, if the swap is required to be cleared. Revises the definition of a financial entity subject to such requirement to exclude one that: (1) is a commercial market participant predominantly engaged in activities in the business of banking, or in activities that are financial in nature, but is not supervised by a prudential regulator; or (2) is considered as predominantly engaged in activities in the business of banking or in financial activities because it regularly enters into foreign exchange or derivatives transactions on behalf of, or to hedge or mitigate the commercial risk of, one or more other entities within the entity's same commercial enterprise, or because of making loans to one or more of such other entities. Directs the Commodity Futures Trading Commission (CFTC) to provide by rule for the public reporting of swap transactions, including price and volume data, in illiquid markets that are not cleared and entered into by a nonfinancial entity that is hedging or mitigating commercial risk. Defines "illiquid" as any market in which the volume and frequency of trading in swaps is at such a level as to allow identification of individual market participants. Requires the CFTC to ensure that such swap transaction information is not available to the public until 30 days after the transaction has been executed, or at an appropriate later date, in order to: (1) protect the identity of participants and positions in illiquid markets, and (2) prevent the elimination or reduction of market liquidity. Accords financial entities exempt from swap-clearing requirements the same treatment as exempted affiliates. Revises the exemption of bona fide hedge transactions or positions from certain trading limitations to set criteria for CFTC rules or regulations treating swaps, contracts of sale for future delivery, or options on the contracts or commodities as bona fide hedge transactions or positions also exempt from those limitations. Declares that, if the CFTC imposes any reporting and recordkeeping requirement on any person that is not registered, or required to be registered, with the CFTC, that person shall satisfy the requirements of any pertinent rule, order, or regulation by maintaining a written record of each cash or forward transaction related to a reportable or hedging commodity interest transaction, futures contract, option on a futures contract, or swap. Makes such a written record sufficient if it: (1) memorializes the final agreement between the parties, including the transaction's material economic terms; and (2) is identifiable and searchable by transaction. States that certain requirements for adoption of rules governing capital and margin requirements for swap dealers and major swap participants, including the initial and variation margin requirements imposed by rules adopted according to such requirements, shall not apply to a swap in which a counterparty qualifies for specified exceptions or exemptions. Revises requirements for a CFTC cost-benefit analysis made before an order is issued. Requires the CFTC, acting through the Office of the Chief Economist, among other things to: state a justification for the regulation or order; state the baseline for the cost-benefit analysis and explain how the regulation or order measures costs against the baseline; assess the costs and benefits, both qualitative and quantitative, of the intended regulation or order; measure, and seek to improve, the actual results of regulatory requirements; and propose or adopt a regulation or order only on a reasoned determination that the benefits of the intended regulation or order justify its costs.

Example Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Mississippi Sioux Tribes Judgment
Fund Distribution Act of 1998''.

SEC. 2. DEFINITIONS.

In this Act:
(1) Covered indian tribe.--The term ''covered Indian tribe''
means an Indian tribe listed in section 4(a).
(2) Fund account.--The term ''Fund Account'' means the
consolidated account for tribal trust funds in the Treasury of the
United States that is managed by the Secretary--
(A) through the Office of Trust Fund Management of the
Department of the Interior; and
(B) in accordance with the American Indian Trust Fund
Management Reform Act of 1994 (25 U.S.C. 4001 et seq.).
(3) Secretary.--The term ''Secretary'' means the Secretary of
the Interior.
(4) Tribal governing body.--The term ''tribal governing body''
means the duly elected governing body of a covered Indian tribe.
SEC. 3. DISTRIBUTION TO, AND USE OF CERTAIN FUNDS BY, THE SISSETON AND
WAHPETON TRIBES OF SIOUX INDIANS.
Notwithstanding any other provision of law, including Public Law
92-555 (25 U.S.C. 1300d et seq.), any funds made available by
appropriations under chapter II of Public Law 90-352 (82 Stat. 239) to
the Sisseton and Wahpeton Tribes of Sioux Indians to pay a judgment in
favor of those Indian tribes in Indian Claims Commission dockets
numbered 142 and 359, including interest, that, as of the date of
enactment of this Act, have not been distributed, shall be distributed
and used in accordance with this Act.

SEC. 4. DISTRIBUTION OF FUNDS TO TRIBES.

(a) In General.--
(1) Amount distributed.--
(A) In general.--Subject to section 8(e) and if no action
is filed in a timely manner (as determined under section 8(d))
raising any claim identified in section 8(a), not earlier than
365 days after the date of enactment of this Act and not later
than 415 days after the date of enactment of this Act, the
Secretary shall transfer to the Fund Account to be credited to
accounts established in the Fund Account for the benefit of the
applicable governing bodies under paragraph (2) an aggregate
amount determined under subparagraph (B).
(B) Aggregate amount.--The aggregate amount referred to in
subparagraph (A) is an amount equal to the remainder of--
(i) the funds described in section 3; minus
(ii) an amount equal to 71.6005 percent of the funds
described in section 3.
(2) Distribution of funds to accounts in the fund account.--The
Secretary shall ensure that the aggregate amount transferred under
paragraph (1) is allocated to the accounts established in the Fund
Account as follows:
(A) 28.9276 percent of that amount shall be allocated to
the account established for the benefit of the tribal governing
body of the Spirit Lake Tribe of North Dakota.
(B) 57.3145 percent of that amount, after payment of any
applicable attorneys' fees and expenses by the Secretary under
the contract numbered A00C14202991, approved by the Secretary
on August 16, 1988, shall be allocated to the account
established for the benefit of the tribal governing body of the
Sisseton and Wahpeton Sioux Tribe of South Dakota.
(C) 13.7579 percent of that amount shall be allocated to
the account established for the benefit of the tribal governing
body of the Assiniboine and Sioux Tribes of the Fort Peck
Reservation in Montana, as designated under subsection (c).
(b) Use.--Amounts distributed under this section to accounts
referred to in subsection (d) for the benefit of a tribal governing
body shall be distributed and used in a manner consistent with section
5.
(c) Tribal Governing Body of Assiniboine and Sioux Tribes of Fort
Peck Reservation.--For purposes of making distributions of funds
pursuant to this Act, the Sisseton and Wahpeton Sioux Council of the
Assiniboine and Sioux Tribes shall act as the governing body of the
Assiniboine and Sioux Tribes of the Fort Peck Reservation.
(d) Tribal Trust Fund Accounts.--The Secretary of the Treasury, in
cooperation with the Secretary of the Interior, acting through the
Office of Trust Fund Management of the Department of the Interior,
shall ensure that such accounts as are necessary are established in the
Fund Account to provide for the distribution of funds under subsection
(a)(2).

SEC. 5. USE OF DISTRIBUTED FUNDS.

(a) Prohibition.--No funds allocated for a covered Indian tribe
under section 4 may be used to make per capita payments to members of
the covered Indian tribe.
(b) Purposes.--The funds allocated under section 4 may be used,
administered, and managed by a tribal governing body referred to in
section 4(a)(2) only for the purpose of making investments or
expenditures that the tribal governing body determines to be reasonably
related to--
(1) economic development that is beneficial to the covered
Indian tribe;
(2) the development of resources of the covered Indian tribe;
(3) the development of programs that are beneficial to members
of the covered Indian tribe, including educational and social
welfare programs;
(4) the payment of any existing obligation or debt (existing as
of the date of the distribution of the funds) arising out of any
activity referred to in paragraph (1), (2), or (3);
(5)(A) the payment of attorneys' fees or expenses of any
covered Indian tribe referred to in subparagraph (A) or (C) of
section 4(a)(2) for litigation or other representation for matters
arising out of the enactment of Public Law 92-555 (25 U.S.C. 1300d
et seq.); except that
(B) the amount of attorneys' fees paid by a covered Indian
tribe under this paragraph with funds distributed under section 4
shall not exceed 10 percent of the amount distributed to that
Indian tribe under that section;
(6) the payment of attorneys' fees or expenses of the covered
Indian tribe referred to in section 4(a)(2)(B) for litigation and
other representation for matters arising out of the enactment of
Public Law 92-555 (25 U.S.C. 1300d et seq.), in accordance, as
applicable, with the contracts numbered A00C14203382 and
A00C14202991, that the Secretary approved on February 10, 1978 and
August 16, 1988, respectively; or
(7) the payment of attorneys' fees or expenses of any covered
Indian tribe referred to in section 4(a)(2) for litigation or other
representation with respect to matters arising out of this Act.
(c) Management.--Subject to subsections (a), (b), and (d), any
funds distributed to a covered Indian tribe pursuant to sections 4 and
7 may be managed and invested by that Indian tribe pursuant to the
American Indian Trust Fund Management Reform Act of 1994 (25 U.S.C.
4001 et seq.).
(d) Withdrawal of Funds by Covered Tribes.--
(1) In general.--Subject to paragraph (2), each covered Indian
tribe may, at the discretion of that Indian tribe, withdraw all or
any portion of the funds distributed to the Indian tribe under
sections 4 and 7 in accordance with the American Indian Trust Fund
Management Reform Act (25 U.S.C. 4001 et seq.).
(2) Exemption.--For purposes of paragraph (1), the requirements
under subsections (a) and (b) of section 202 of the American Indian
Trust Fund Management Reform Act (25 U.S.C. 4022 (a) and (b)) and
section 203 of such Act (25 U.S.C. 4023) shall not apply to a
covered Indian tribe or the Secretary.
(3) Rule of construction.--Nothing in paragraph (2) may be
construed to limit the applicability of section 202(c) of the
American Indian Trust Fund Management Reform Act (25 U.S.C.
4022(c)).
SEC. 6. EFFECT OF PAYMENTS TO COVERED INDIAN TRIBES ON BENEFITS.
A payment made to a covered Indian tribe or an individual under
this Act shall not--
(1) for purposes of determining the eligibility for a Federal
service or program of a covered Indian tribe, household, or
individual, be treated as income or resources; or
(2) otherwise result in the reduction or denial of any service
or program to which, pursuant to Federal law (including the Social
Security Act (42 U.S.C. 301 et seq.)), the covered Indian tribe,
household, or individual would otherwise be entitled.

SEC. 7. DISTRIBUTION OF FUNDS TO LINEAL DESCENDANTS.

(a) In General.--Subject to section 8(e), the Secretary shall, in
the manner prescribed in section 202(c) of Public Law 92-555 (25 U.S.C.
1300d-4(c)), distribute to the lineal descendants of the Sisseton and
Wahpeton Tribes of Sioux Indians an amount equal to 71.6005 percent of
the funds described in section 3, subject to any reduction determined
under subsection (b).
(b) Adjustments.--
(1) In general.--Subject to section 8(e), if the number of
individuals on the final roll of lineal descendants certified by
the Secretary under section 201(b) of Public Law 92-555 (25 U.S.C.
1300d-3(b)) is less than 2,588, the Secretary shall distribute a
reduced aggregate amount to the lineal descendants referred to in
subsection (a), determined by decreasing--
(A) the percentage specified in section 4(a)(B)(ii) by a
percentage amount equal to--
(i) .0277; multiplied by
(ii) the difference between 2,588 and the number of
lineal descendants on the final roll of lineal descendants,
but not to exceed 600; and
(B) the percentage specified in subsection (a) by the
percentage amount determined under subparagraph (A).
(2) Distribution.--If a reduction in the amount that otherwise
would be distributed under subsection (a) is made under paragraph
(1), an amount equal to that reduction shall be added to the amount
available for distribution under section 4(a)(1), for distribution
in accordance with section 4(a)(2).
(c) Verification of Ancestry.--In seeking to verify the Sisseton
and Wahpeton Mississippi Sioux Tribe ancestry of any person applying
for enrollment on the roll of lineal descendants after January 1, 1998,
the Secretary shall certify that each individual enrolled as a lineal
descendant can trace ancestry to a specific Sisseton or Wahpeton
Mississippi Sioux Tribe lineal ancestor who was listed on--
(1) the 1909 Sisseton and Wahpeton annuity roll;
(2) the list of Sisseton and Wahpeton Sioux prisoners convicted
for participating in the outbreak referred to as the ''1862
Minnesota Outbreak'';
(3) the list of Sioux scouts, soldiers, and heirs identified as
Sisseton and Wahpeton Sioux on the roll prepared pursuant to the
Act of March 3, 1891 (26 Stat. 989 et seq., chapter 543); or
(4) any other Sisseton or Wahpeton payment or census roll that
preceded a roll referred to in paragraph (1), (2), or (3).
(d) Conforming Amendments.--
(1) In general.--Section 202(a) of Public Law 92-555 (25 U.S.C.
1300d-4(a)) is amended--
(A) in the matter preceding the table--
(i) by striking '', plus accrued interest,''; and
(ii) by inserting ''plus interest received (other than
funds otherwise distributed to the Sisseton and Wahpeton
Tribes of Sioux Indians in accordance with the Mississippi
Sioux Tribes Judgment Fund Distribution Act of 1998),''
after ''docket numbered 359,''; and
(B) in the table contained in that subsection, by striking
the item relating to ''All other Sisseton and Wahpeton Sioux''.
(2) Roll.--Section 201(b) of Public Law 92-555 (25 U.S.C.
1300d-3(b)) is amended by striking ''The Secretary'' and inserting
''Subject to the Mississippi Sioux Tribes Judgment Fund
Distribution Act of 1998, the Secretary''.

SEC. 8. JURISDICTION; PROCEDURE.

(a) Actions Authorized.--In any action brought by or on behalf of a
lineal descendant or any group or combination of those lineal
descendants to challenge the constitutionality or validity of
distributions under this Act to any covered Indian tribe, any covered
Indian tribe, separately, or jointly with another covered Indian tribe,
shall have the right to intervene in that action to--
(1) defend the validity of those distributions; or
(2) assert any constitutional or other claim challenging the
distributions made to lineal descendants under this Act.
(b) Jurisdiction and Venue.--
(1) Exclusive original jurisdiction.--Subject to paragraph (2),
only the United States District Court for the District of Columbia,
and for the districts in North Dakota and South Dakota, shall have
original jurisdiction over any action brought to contest the
constitutionality or validity under law of the distributions
authorized under this Act.
(2) Consolidation of actions.--After the filing of a first
action under subsection (a), all other actions subsequently filed
under that subsection shall be consolidated with that first action.
(3) Jurisdiction by the united states court of federal
claims.--If appropriate, the United States Court of Federal Claims
shall have jurisdiction over an action referred to in subsection
(a).
(c) Notice to Covered Tribes.--In an action brought under this
section, not later than 30 days after the service of a summons and
complaint on the Secretary that raises a claim identified in subsection
(a), the Secretary shall send a copy of that summons and complaint,
together with any responsive pleading, to each covered Indian tribe by
certified mail with return receipt requested.
(d) Statute of Limitations.--No action raising a claim referred to
in subsection (a) may be filed after the date that is 365 days after
the date of enactment of this Act.
(e) Special Rule.--
(1) Final judgment for lineal descendants.--
(A) In general.--If an action that raises a claim referred
to in subsection (a) is brought, and a final judgment is
entered in favor of 1 or more lineal descendants referred to in
that subsection, section 4(a) and subsections (a) and (b) of
section 7 shall not apply to the distribution of the funds
described in subparagraph (B).
(B) Distribution of funds.--Upon the issuance of a final
judgment referred to in subparagraph (A) the Secretary shall
distribute 100 percent of the funds described in section 3 to
the lineal descendants in a manner consistent with--
(i) section 202(c) of Public Law 92-555 (25 U.S.C.
1300d-4(c)); and
(ii) section 202(a) of Public Law 92-555, as in effect
on the day before the date of enactment of this Act.
(2) Final judgment for covered indian tribes.--
(A) In general.--If an action that raises a claim referred
to in subsection (a) is brought, and a final judgment is
entered in favor of 1 or more covered Indian tribes that
invalidates the distributions made under this Act to lineal
descendants, section 4(a), other than the percentages under
section 4(a)(2), and subsections (a) and (b) of section 7 shall
not apply.
(B) Distribution of funds.--Not later than 180 days after
the date of the issuance of a final judgment referred to in
subparagraph (A), the Secretary shall distribute 100 percent of
the funds described in section 3 to each covered Indian tribe
in accordance with the judgment and the percentages for
distribution contained in section 4(a)(2).
(f) Limitation on Claims by a Covered Indian Tribe.--
(1) In general.--If any covered Indian tribe receives any
portion of the aggregate amounts transferred by the Secretary to a
Fund Account or any other account under section 4, no action may be
brought by that covered Indian tribe in any court for a claim
arising from the distribution of funds under Public Law 92-555 (25
U.S.C. 1300d et seq.).
(2) Rule of construction.--Nothing in this subsection shall be
construed to limit the right of a covered Indian tribe to--
(A) intervene in an action that raises a claim referred to
in subsection (a); or
(B) limit the jurisdiction of any court referred to in
subsection (b), to hear and determine any such claims.

Speaker of the House of Representatives.

Vice President of the United States and
President of the Senate.
Example Output:
Mississippi Sioux Tribes Judgment Fund Distribution Act of 1998 - Provides for the distribution of certain funds to the Sisseton and Wahpeton Tribes of Sioux Indians to pay a judgment in favor of those tribes.
(Sec. 4) Directs the Secretary of the Interior to transfer a specified aggregate amount to be credited to accounts established in a Fund Account for the benefit of the applicable governing bodies of the : (1) Spirit Lake Tribe of North Dakota; (2) Sisseton and Wahpeton Sioux Tribe of South Dakota; and (3) Assiniboine and Sioux Tribes of the Fort Peck Reservation in Montana. Designates the Sisseton and Wahpeton Sioux Council of the Assiniboine and Sioux Tribes as the tribal governing body of the Assiniboine and Sioux Tribes of the Fort Peck Reservation for purposes of making such distributions.
(Sec. 5) Prohibits funds allocated for a covered Indian tribe from being used to make per capita payments to tribe members.
Allows funds allocated to be used, administered, and managed by a tribal governing body only for the purpose of making investments or expenditures that the tribal governing body determines to be reasonably related to: (1) economic development; (2) tribal resources development; (3) the development of beneficial tribal programs, including educational and social welfare programs; (4) any existing obligation or debt arising out of any such activities; and (5) specified attorneys' fees.
(Sec. 6) Sets forth provisions concerning the effect of payments to a covered Indian tribe or an individual on eligibility for, or the reduction or denial of, Federal benefits.
(Sec. 7) Directs the Secretary to distribute a specified amount to the lineal descendants of the Sisseton and Wahpeton Tribes of Sioux Indians. Requires ancestral verification of such descendants.
(Sec. 8) Sets forth procedural requirements for civil actions brought by or on behalf of a lineal descendant or any group or combination thereof to challenge the constitutionality or validity of such distributions.