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.

This Act may be cited as the ''Futures Investor Protection Act''.

SEC. 2. FUTURES INVESTORS PROTECTION FUND.

(a) Futures Investor Protection Corporation.--
(1) Creation and membership.--
(A) Creation.--There is established a nonprofit
corporation to be known as the ''Futures Investor
Protection Corporation'' (in this Act referred to as
the ''FIPC''), which shall not be an agency or
establishment of the United States Government.
(B) Membership.--
(i) Members of fipc.--The FIPC shall be a
membership corporation the members of which
shall be all persons registered under the
Commodity Exchange Act with the Commission as a
futures commission merchant, other than persons
whose principal business, in the determination
of the FIPC, taking into account business of
affiliated entities, is conducted outside the
United States and its territories and
possessions.
(ii) Commission review; additional
members.--Subparagraphs (B) and (C) of section
3(a)(2) of SIPA shall apply with respect to
determinations of the FIPC in the same way the
subparagraphs apply with respect to
determinations of the SIPC and to brokers and
dealers referred to in such subparagraph (D).
(iii) Disclosure.--Section 3(a)(2)(D) of
SIPA shall apply to futures commission
merchants in the same way the section applies
to brokers and dealers referred to in such
section.
(2) Powers.--The FIPC shall have all the powers conferred
on the SIPC.
(3) Board of directors.--
(A) Functions.--The FIPC shall have a Board of
Directors which, subject to the provisions of this Act,
shall determine the policies which shall govern the
operations of FIPC.
(B) Number and appointment.--The Board of Directors
shall consist of 7 persons as follows:
(i) 1 director shall be appointed by the
Secretary of the Treasury from among the
officers and employees of the Department of the
Treasury.
(ii) 1 director shall be appointed by the
Board of Governors of the Federal Reserve
System from among the officers and employees of
that Board.
(iii) 5 directors shall be appointed by the
President, by and with the advice and consent
of the Senate, as follows:
(I) 3 directors shall be selected
from among persons who are associated
with, and representative of different
aspects of, the futures industry, not
all of whom shall be from the same
geographical area of the United States.
(II) 2 directors shall be selected
from the general public from among
persons who are not associated with a
futures commission merchant or a
contract market, or similarly
associated with any self-regulatory
organization or other futures industry
group, and who have not had any such
association during the 2 years
preceding appointment.
(C) Chairman and vice chairman.--The President
shall designate a Chairman and Vice Chairman from among
those directors appointed under subparagraph
(B)(iii)(II).
(D) Terms.--
(i) In general.--Except as provided in
clauses (ii) and (iii), each director shall be
appointed for a term of 3 years.
(ii) Initially appointed members.--Of the
directors first appointed under subparagraph
(B)--
(I) 2 shall hold office for a term
expiring on December 31, 2017;
(II) 2 shall hold office for a term
expiring on December 31, 2018; and
(III) 3 shall hold office for a
term expiring on December 31, 2019,
as designated by the President at the time they
take office. The designation shall be made in a
manner which will assure that no 2 persons
appointed under the authority of the same
subclause of subparagraph (B)(iii) shall have
terms which expire simultaneously.
(iii) Vacancies.--A vacancy in the Board
shall be filled in the same manner as the
original appointment was made. Any director
appointed to fill a vacancy occurring prior to
the expiration of the term for which the
predecessor of the director was appointed shall
be appointed only for the remainder of the
term. A director may serve after the expiration
of the term for which appointed until the
successor of the director has taken office.
(E) Compensation.--All matters relating to
compensation of directors shall be as provided in the
bylaws of the FIPC.
(4) Meetings of board; bylaws and rules.--Subsections (d)
and (e) of section 3 of SIPA shall apply with respect to the
FIPC and the Commission in the same way the subsections apply
with respect to the SIPC and the Securities and Exchange
Commission.
(b) FIPC Fund.--
(1) In general.--The FIPC shall establish, and make
deposits into and payments from, an ''FIPC fund'' (in this Act
referred to as the ''fund'') in the same manner in which the
SIPC has established, and is authorized to make deposits into
and payments from, the SIPC fund.
(2) Assessments.--The FIPC shall impose on its members
assessments subject to the same rules that apply to the
imposition by the SIPC of assessments on the members of the
SIPC.
(c) Other Provisions.--Sections 5 through 16 of the SIPA shall
apply with respect to the FIPC and the members, directors, officers,
and employees of the FIPC, the Commission, the FIPC fund, futures
commission merchants and their affiliates, futures contracts, futures
transactions, customers, and debtors in the same way the sections apply
with respect to the SIPC and the members, directors, officers, and
employees of the SIPC, the Securities and Exchange Commission, the SIPC
fund, persons registered as brokers or dealers (as defined in section
16(12) of the SIPA) and their affiliates, securities, securities
transactions, customers (as defined in section 16(2) of the SIPA), and
debtors (as defined in section 16(5) of the SIPA), respectively.
(d) Definitions.--In this section:
(1) Commission.--The term ''Commission'' means the
Commodity Futures Trading Commission.
(2) Contract market.--The term ''contract market'' means a
board of trade designated as a contract market under the
Commodity Exchange Act.
(3) Futures contract.--The term ''futures contract'' means
a contract of sale of a commodity for future delivery, within
the meaning of the Commodity Exchange Act.
(4) Futures commission merchant.--The term ''futures
commission merchant'' has the meaning given the term in section
1a(28) of the Commodity Exchange Act.
(5) SIPA.--The term ''SIPA'' means the Security Investors
Protection Act of 1970.
(6) SIPC.--The term ''SIPC'' means the Security Investors
Protection Corporation.
(7) SIPC fund.--The term ''SIPC fund'' means the fund
established under section 4(a)(1) of the SIPA.

SEC. 3. SUITABILITY RULES.

(a) In General.--The Commodity Exchange Act (7 U.S.C. 1 et seq.) is
amended by inserting after section 4t the following:

''SEC. 4U. SUITABILITY RULES.

''(a) In General.--
''(1) Recommendations must be suitable for the customer.--A
futures commission merchant shall not recommend a transaction
or investment strategy involving a contract of sale of a
commodity for future delivery, unless the futures commission
merchant has a reasonable basis to believe that the transaction
or investment strategy is suitable for the customer, based on
the information obtained through the reasonable diligence of
the futures commission merchant to ascertain the customer's
investment profile. A customer's investment profile includes,
but is not limited to, the customer's age, other investments,
financial situation and needs, tax status, investment
objectives, investment experience, investment time horizon,
liquidity needs, risk tolerance, and any other information the
customer may disclose to the futures commission merchant in
connection with the recommendation.
''(2) Safe harbor in certain cases.--A futures commission
merchant is deemed to comply with paragraph (1) in the case of
a customer with an institutional account, if--
''(A) the futures commission merchant has a
reasonable basis to believe that the customer is
capable of evaluating investment risks independently,
both in general and with regard to particular
transactions and investment strategies involving a
contract of sale of a commodity for future delivery;
and
''(B) the customer affirmatively indicates that it
is exercising independent judgment in evaluating the
recommendations of the futures commission merchant.
''(b) Applicability With Respect to Certain Agents.--If a customer
with an institutional account has delegated decisionmaking authority to
an agent, subsection (a) shall be applied with respect to the agent.
''(c) Institutional Account Defined.--In this section, the term
'institutional account' means the account of--
''(1) a bank, savings and loan association, insurance
company or registered investment company;
''(2) an investment adviser registered with the Securities
and Exchange Commission under section 203 of the Investment
Advisers Act or with a State securities commission (or any
agency or office performing like functions); or
''(3) any other person (whether a natural person,
corporation, partnership, trust or otherwise) with total assets
of at least $50,000,000.
''(d) Penalties.--The Commission may impose one or more of the
following sanctions on a person found by the Commission to have
violated this section or to have neglected or refused to comply with an
order issued by the Commission under this section:
''(1) Censure.
''(2) A fine.
''(3) Expulsion of the person from, or revocation of the
membership of the person in, a registered entity.
''(4) Suspension for a definite period or a period
contingent on the performance of a particular act, or
revocation, of the registration of the person under this Act
with the Commission as a futures commission merchant.
''(5) Suspension or bar of the person from association with
any other futures commission merchant.
''(6) A temporary or permanent cease and desist order
against the person.
''(7) Any other fitting sanction.''.
(b) Effective Date.--Within 6 months after the date of the
enactment of this Act, the Commodity Futures Trading Commission shall
issue regulations for the implementation of the amendment made by
subsection (a).

SEC. 4. REVIEW OF PROOF OF CLAIMS RULES.

(a) In General.--The Commodity Futures Trading Commission shall
review the guidelines for establishing account classes and determining
the basis for pro rata shares under, and the sample claim form set
forth in, part 190 of title 17, Code of Federal Regulations, and
consider the desirability of allowing use of a set date for valuation
purposes rather than the date of actual liquidation of positions.
(b) Report to the Congress.--Within 1 year after the date of the
enactment of this Act, the Commodity Futures Trading Commission shall
submit to the Congress a written report that contains the findings of
the Commission with respect to the matters referred to in subsection
(a), and includes such changes to the regulations in such part as the
Commission deems appropriate.
Example Output: Futures Investor Protection Act This bill establishes the Futures Investor Protection Corporation (FIPC) as a nonprofit membership corporation for all futures commission merchants registered with the Commodity Futures Trading Commission (CFTC). In general, the FIPC's powers and duties shall mirror those of the Security Investors Protection Corporation (the nonprofit membership corporation for registered broker-dealers). In addition, the bill amends the Commodity Exchange Act to establish suitability rules with respect torecommendationsby afutures commission merchant to a customer. The CFTC must review certain guidelines regarding proof of claims, as specified by the bill.

Example Input: SECTION 1. SHORT TITLE.
This Act may be cited as the ''American Veterans Disabled for Life
Commemorative Coin Act''.
SEC. 2. FINDINGS.
The Congress finds as follows:
(1) The Armed Forces of the United States have answered the
call and served with distinction around the world--from hitting the
beaches in World War II in the Pacific and Europe, to the cold and
difficult terrain in Korea, the steamy jungles of Vietnam, and the
desert sands of the Middle East.
(2) All Americans should commemorate those who come home having
survived the ordeal of war, and solemnly honor those who made the
ultimate sacrifice in giving their lives for their country.
(3) All Americans should honor the millions of living disabled
veterans who carry the scars of war every day, and who have made
enormous personal sacrifices defending the principles of our
democracy.
(4) In 2000, Congress authorized the construction of the
American Veterans Disabled for Life Memorial.
(5) The United States should pay tribute to the Nation's living
disabled veterans by minting and issuing a commemorative silver
dollar coin.
(6) The surcharge proceeds from the sale of a commemorative
coin would raise valuable funding for the construction of the
American Veterans Disabled for Life Memorial.
SEC. 3. COIN SPECIFICATIONS.
(a) $1 Silver Coins.--The Secretary of the Treasury (hereafter in
this Act referred to as the ''Secretary'') shall mint and issue not
more than 350,000 $1 coins in commemoration of disabled American
veterans, each of which shall--
(1) weigh 26.73 grams;
(2) have a diameter of 1.500 inches; and
(3) contain 90 percent silver and 10 percent copper.
(b) Legal Tender.--The coins minted under this Act shall be legal
tender, as provided in section 5103 of title 31, United States Code.
(c) Numismatic Items.--For purposes of sections 5134 and 5136 of
title 31, United States Code, all coins minted under this Act shall be
considered to be numismatic items.
SEC. 4. DESIGN OF COINS.
(a) Design Requirements.--
(1) Design.--The design of the coins minted under this Act
shall be emblematic of the service of our disabled veterans who,
having survived the ordeal of war, made enormous personal
sacrifices defending the principles of our democracy.
(2) Designation and inscriptions.--On each coin minted under
this Act, there shall be--
(A) a designation of the value of the coin;
(B) an inscription of the year ''2010''; and
(C) inscriptions of the words ''Liberty'', ''In God We
Trust'', ''United States of America'', and ''E Pluribus Unum''.
(b) Selection.--The design for the coins minted under this Act
shall be--
(1) selected by the Secretary, after consultation with the
Disabled Veterans' LIFE Memorial Foundation and the Commission of
Fine Arts; and
(2) reviewed by the Citizens Coinage Advisory Committee.
SEC. 5. ISSUANCE OF COINS.
(a) Quality of Coins.--Coins minted under this Act shall be issued
in uncirculated and proof qualities.
(b) Mint Facility.--
(1) In general.--Only 1 facility of the United States Mint may
be used to strike any particular quality of the coins minted under
this Act.
(2) Use of the united states mint at west point, new york.--It
is the sense of the Congress that the coins minted under this Act
should be struck at the United States Mint at West Point, New York,
to the greatest extent possible.
(c) Period for Issuance.--The Secretary may issue coins under this
Act only during the calendar year beginning on January 1, 2010.
SEC. 6. SALE OF COINS.
(a) Sale Price.--The coins issued under this Act shall be sold by
the Secretary at a price equal to the sum of--
(1) the face value of the coins;
(2) the surcharge provided in section 7 with respect to such
coins; and
(3) the cost of designing and issuing the coins (including
labor, materials, dies, use of machinery, overhead expenses,
marketing, and shipping).
(b) Bulk Sales.--The Secretary shall make bulk sales of the coins
issued under this Act at a reasonable discount.
(c) Prepaid Orders.--
(1) In general.--The Secretary shall accept prepaid orders for
the coins minted under this Act before the issuance of such coins.
(2) Discount.--Sale prices with respect to prepaid orders under
paragraph (1) shall be at a reasonable discount.
SEC. 7. SURCHARGES.
(a) In General.--All sales of coins issued under this Act shall
include a surcharge of $10 per coin.
(b) Distribution.--Subject to section 5134(f) of title 31, United
States Code, all surcharges received by the Secretary from the sale of
coins issued under this Act shall be paid to the Disabled Veterans'
LIFE Memorial Foundation for the purpose of establishing an endowment
to support the construction of American Veterans' Disabled for Life
Memorial in Washington, D.C.
(c) Audits.--The Comptroller General of the United States shall
have the right to examine such books, records, documents, and other
data of the Disabled Veterans' LIFE Memorial Foundation as may be
related to the expenditures of amounts paid under subsection (b).
(d) Limitation.--Notwithstanding subsection (a), no surcharge may
be included with respect to the issuance under this Act of any coin
during a calendar year if, as of the time of such issuance, the
issuance of such coin would result in the number of commemorative coin
programs issued during such year to exceed the annual 2 commemorative
coin program issuance limitation under section 5112(m)(1) of title 31,
United States Code (as in effect on the date of the enactment of this
Act). The Secretary of the Treasury may issue guidance to carry out
this subsection.

Speaker of the House of Representatives.

Vice President of the United States and
President of the Senate.
Example Output: American Veterans Disabled for Life Commemorative Coin Act - Directs the Secretary of the Treasury to mint and issue $1 silver coins emblematic of the service of our disabled veterans who, having survived the ordeal of war, made enormous personal sacrifices defending the principles of our democracy.

Expresses the sense of Congress that, to the greatest extent possible, the coins should be struck at the U.S. Mint at West Point, New York.

Limits the period for coin issuance to the calendar year beginning on January 1, 2010.

Imposes a $10 surcharge per coin, to be distributed to the Disabled Veterans' LIFE Memorial Foundation for the purpose of establishing an endowment to support the construction of American Veterans' Disabled for Life Memorial in Washington, D.C.

Prohibits a surcharge with respect to the issuance under this Act of any coin during a calendar year if, at the time of issuance, it would result in more than the statuory maximum of two commemorative coin programs per year.

Example Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Master Limited Partnerships Parity
Act''.

SEC. 2. EXTENSION OF PUBLICLY TRADED PARTNERSHIP OWNERSHIP STRUCTURE TO
ENERGY POWER GENERATION PROJECTS, TRANSPORTATION FUELS,
AND RELATED ENERGY ACTIVITIES.

(a) In General.--Subparagraph (E) of section 7704(d)(1) of the
Internal Revenue Code of 1986 is amended--
(1) by striking ''income and gains derived from the
exploration'' and inserting ''income and gains derived from the
following:
''(i) Minerals, natural resources, etc.--
The exploration'',
(2) by inserting ''or'' before ''industrial source'',
(3) by inserting a period after ''carbon dioxide'', and
(4) by striking '', or the transportation or storage'' and
all that follows and inserting the following:
''(ii) Renewable energy.--The generation of
electric power exclusively utilizing any
resource described in section 45(c)(1) or
energy property described in section 48
(determined without regard to any termination
date), or in the case of a facility described
in paragraph (3) or (7) of section 45(d)
(determined without regard to any placed in
service date or date by which construction of
the facility is required to begin), the
accepting or processing of such resource.
''(iii) Electricity storage devices.--The
receipt and sale of electric power that has
been stored in a device directly connected to
the grid.
''(iv) Combined heat and power.--The
generation, storage, or distribution of thermal
energy exclusively utilizing property described
in section 48(c)(3) (determined without regard
to subparagraphs (B) and (D) thereof and
without regard to any placed in service date).
''(v) Renewable thermal energy.--The
generation, storage, or distribution of thermal
energy exclusively using any resource described
in section 45(c)(1) or energy property
described in clause (i) or (iii) of section
48(a)(3)(A).
''(vi) Waste heat to power.--The use of
recoverable waste energy, as defined in section
371(5) of the Energy Policy and Conservation
Act (42 U.S.C. 6341(5)) (as in effect on the
date of the enactment of the Master Limited
Partnerships Parity Act).
''(vii) Renewable fuel infrastructure.--The
storage or transportation of any fuel described
in subsection (b), (c), (d), or (e) of section
6426.
''(viii) Renewable fuels.--The production,
storage, or transportation of any renewable
fuel described in section 211(o)(1)(J) of the
Clean Air Act (42 U.S.C. 7545(o)(1)(J)) (as in
effect on the date of the enactment of the
Master Limited Partnerships Parity Act) or
section 40A(d)(1).
''(ix) Renewable chemicals.--The
production, storage, or transportation of any
renewable chemical (as defined in paragraph
(6)).
''(x) Energy efficient buildings.--The
audit and installation through contract or
other agreement of any energy efficient
building property described in section
179D(c)(1).
''(xi) Gasification with sequestration.--
The production of any product from a project
that meets the requirements of subparagraphs
(A) and (B) of section 48B(c)(1) and that
separates and sequesters in secure geological
storage (as determined under section 45Q(d)(2))
at least 75 percent of such project's total
qualified carbon dioxide (as defined in section
45Q(b)).
''(xii) Carbon capture and sequestration.--
The generation or storage of electric power
produced from any facility which is a qualified
facility described in section 45Q(c) and which
disposes of any captured qualified carbon
dioxide (as defined in section 45Q(b)) in
secure geological storage (as determined under
section 45Q(d)(2)).''.
(b) Renewable Chemical.--Section 7704(d) of such Code is amended by
adding at the end the following new paragraph:
''(6) Renewable chemical.--The term 'renewable chemical'
means a monomer, polymer, plastic, formulated product, or
chemical substance produced from renewable biomass (as defined
in section 9001(12) of the Farm Security and Rural Investment
Act of 2002 (7 U.S.C. 8101(12)), as in effect on the date of
the enactment of the Master Limited Partnerships Parity
Act).''.
(c) Effective Date.--The amendments made by this section shall take
effect on the date of the enactment of this Act, in taxable years
ending after such date.
Example Output:
Master Limited Partnerships Parity Act - Amends the Internal Revenue Code, with respect to the tax treatment of publicly traded partnerships as corporations, to expand the definition of "qualifying income" for such partnerships to include income and gains from renewable and alternative fuels (in addition to fossil fuels), including energy derived from thermal resources, waste, renewable fuels and chemicals, energy efficient buildings, gasification, and carbon capture in secure geological storage.