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

Ex Input:
SECTION 1. SHORT TITLE.

This Act may be cited as the ''Soledad Canyon Mine Act''.

SEC. 2. FINDING AND PURPOSES.

(a) Findings.--The Congress finds the following:
(1) Transit Mix Concrete Corporation holds two valid
Federal contracts, numbered CA-20139 and CA-22901, issued under
the Materials Act of 1947, for the extraction of approximately
56,000,000 tons of sand and gravel from the Federal mineral
estate in lands located in Soledad Canyon adjacent to the city
of Santa Clarita, California.
(2) It is in the best interest of the citizens of
California and the Federal Government to cancel the Contracts
and prohibit future mining in the Soledad Canyon area of
California.
(3) TMC should receive as just compensation for such
cancellation the fair market value of the Contracts and all
costs, fees, and covered liabilities incurred by TMC in good
faith in its efforts to develop the Contracts.
(4) A site-specific solution that is fair to TMC and that
seeks to protect the environment and minimize impacts on local
transportation systems is in the best interest of the Nation.
(5) Considerable sums of money have been expended by TMC
and the city of Santa Clarita on legal and other services in
trying to ensure their interests are protected with respect to
Contracts CA-20139 and CA-22901.
(b) Purposes.--The purposes of this Act are the following:
(1) To provide to the Bureau of Land Management the
authority to cancel contracts CA-20139 and CA-22901 and
prohibit future mining in the Soledad Canyon.
(2) To provide a means for TMC to recover as just
compensation for the cancellation of the Contracts the fair
market value of, and TMC's expenditures and covered liabilities
pursuing the development of, the Contracts.
(3) To provide the Bureau of Land Management tools to
verify expenses incurred by TMC and provide relief.
(4) To provide timelines for the verification of costs
incurred by TMC and the determination of just compensation, and
to provide a dispute resolution process.

SEC. 3. DEFINITIONS.

In this Act:
(1) Contracts.--The term ''Contracts'' means Bureau of Land
Management mineral contracts numbered CA-20139 and CA-22901.
(2) Covered liabilities.--The term ''covered liabilities''
includes any court-ordered or court-approved payment,
settlement, or other liability on the part of TMC for damages,
costs, compensation, or reimbursement to any third party for
agreements entered into by TMC in good faith prior to January
1, 2008, in order to exercise rights under the Contracts.
(3) Materials act of 1947.--The term ''Materials Act of
1947'' means the Act of July 31, 1947, (chapter 406; 61 Stat.
681; 30 U.S.C. 601-604).
(4) Secretary.--The term ''Secretary'' means the Secretary
of the Interior.
(5) TMC.--The term ''TMC'' means the Transit Mixed Concrete
Corporation and its successors in interest, including CEMEX
USA.

SEC. 4. CANCELLATION OF THE CONTRACTS.

(a) Contract Cancellations.--The Secretary shall cancel Bureau of
Land Management mineral contracts CA-20139 and CA-22901 and withdraw
those areas that were subject to the Contracts from further mineral
entry under all mineral leasing and sales authorities available to the
Secretary, effective on the date of the enactment of this Act.
(b) Compensation.--
(1) In general.--As compensation for the cancellation of
the Contracts, TMC shall receive fair market value of the
Contracts and TMC's expenditures and covered liabilities in
trying to bring the Contracts into commercial production. As
such compensation, the Secretary shall provide to TMC surface
and mineral interests and additional value in accordance with
subsection (d) having a total value equal to the amount
described in paragraph (3). All such expenditures must have
been incurred by TMC in good faith in connection with its
efforts to bring the Contracts into commercial production:
Provided, however, that compensation for covered liabilities
may be paid to TMC under this section for up to 15 years
following the effective date of this Act.
(2) Increase in adjusted basis of contract upon
cancellation.--For purposes of the Internal Revenue Code of
1986, the adjusted basis of any contract to which section 4(a)
applies shall be increased (immediately before the cancellation
of such contract under such section) by the excess (if any)
of--
(A) the fair market value of such contract
(determined immediately before such cancellation), over
(B) the adjusted basis of such contract (as
determined immediately before the application of this
section).
(3) Value described.--The compensation provided for in
paragraph (1) is equal to the sum of the following:
(A) All amounts paid to the United States by TMC
with respect to the Contracts as bonus bids or other
prepayments.
(B) Interest on amounts referred to in subparagraph
(A), from the date of payment of such amounts to the
United States, at a rate determined by the Secretary.
(C) Amounts expended by TMC in securing the
contracts and trying to bring them into production,
including--
(i) all actual costs, including fees,
associated with the engineering and
environmental studies, and permitting
proceedings, that were incurred in good faith
in TMC's efforts to exercise the rights granted
under the Contract terms; and
(ii) all actual legal costs, including fees
and covered liabilities, incurred in good faith
in TMC's efforts to exercise the rights granted
in the Contracts, including all fees and costs
associated with securing permits and
entitlements, litigation to compel, secure, or
defend permits or entitlements, and litigation
in connection with disputes relating to mineral
and surface estate rights to the property that
is the subject of the Contracts.
(D) The fair market value of the Contracts.
(4) Determination of fair market value.--The Secretary
shall, within six months after the date of enactment of this
Act, determine by mineral appraisal the fair market value of
the contracts at the time of such determination for purposes of
paragraph (3)(D), determine by mineral appraisal or other
generally accepted applicable appraisal techniques the fair
market value of the surface and mineral estate identified in
the map referred to in subsection (d), and notify TMC of those
determinations. In determining the fair market value of the
Contracts, the Secretary shall assume that--
(A) TMC has obtained all permits and entitlements
necessary to mine, produce, process, and sell sand and
gravel from the Contracts;
(B) mining operations under the Contracts have
commenced at the time of the determination, with
maximum annual production volumes that--
(i) are based on the projected supply and
demand outlook at the time of determination;
and
(ii) reflect depletion of the reserves of
the Contracts within the effective periods of
the Contract;
(C) the fair market value of the Contracts includes
the present value of expected future net cash flows to
be derived from the mining, producing, processing, and
sale of the sand and gravel contained in the Contracts
over the minimum time necessary to mine, produce,
process, and sell such sand and gravel, taking into
consideration--
(i) the material deposit contained in the
contract sites and its quality, volume,
minability, and reclamation requirements;
(ii) the proximity of the contract sites to
markets;
(iii) the type of market that could be
served from the contract sites, including
future supply, demand, and probable price
increases based upon construction material data
developed by the State of California;
(iv) the cost of mining, producing,
processing, and selling the material reserved
in the contract sites;
(v) the types and costs of transportation
for such production from the contract sites to
markets;
(vi) royalties, taxes, and fees to mine and
sell the production from the contract sites;
(vii) similar market sales of materials the
area or region of the contract sites; and
(viii) the net present values of expected
future cash flows from proposed mining
operations of the Contract sites taking into
consideration, at a minimum, the matters
referred to in clauses (i) through (viii).
(c) Submission of Expenses Incurred.--
(1) In general.--To assist in the verification of the
amounts expended referred to in subsection (b)(3)(C), TMC shall
submit to the Secretary within 60 days after the date of
enactment of this Act an itemized list of such amounts, with
enough detail and supporting documentation so the Secretary can
determine that the expenses are associated with the Contracts.
(2) Arbitration.--The Secretary shall issue the
determination of the amounts expended referred to in subsection
(b)(3)(C) within 60 days after receipt of the itemized list
required under paragraph (1). If the Secretary disapproves such
list, the Secretary shall, upon request of TMC, determine the
economic value invested for purposes of subsection (b)(3)
through arbitration in accordance with subchapter IV of chapter
5 of title 5, United States Code.
(d) Return of Value Opportunities for TMC.--
(1) In general.--Within six months after the completion of
the requirements of subsections (b) and (c), the Secretary
shall provide to TMC the following:
(A) Surface and mineral estate interests and
additional value under subsection (b)(1) using the
surface and mineral estate as described and delineated
as Area A on the map entitled ''Cemex USA and City of
Victorville, California Land Disposal and Acquisition
Agreement'' and on file with the Secretary, consisting
of approximately 5,000 acres.
(B) If the fair market value of the surface and
mineral estate used under subparagraph (A) is less than
the sum described in subsection (b)(3), additional
mineral or surface estate under subsection (b)(1) using
the surface and mineral estate as described and
delineated as Area B on the map entitled ''Cemex USA
and City of Victorville, California Land Disposal and
Acquisition Agreement'' and on file with the Secretary,
consisting of approximately 3,000 acres as is necessary
so that the sum of the values provided under
subparagraph (A) and this subparagraph does not exceed
the sum described in subsection (b)(3).
(C) If the sum of the fair market values of the
surface and mineral estates and additional value
provided under subparagraphs (A) and (B) is less that
the sum described in subsection (b)(3), additional
value as is necessary so that the sum of the values
provided under subparagraphs (A) and (B) and this
subparagraph does not exceed the sum described in
subsection (b)(3), in the form of one or more of the
following that are mutually agreed to by the Secretary
and TMC:
(i) Credits that may be applied against
future royalties, bonus bids, or rental fees
for Federal lands administered by the Secretary
and located within the State of California,
including leases for all submerged lands of the
outer Continental Shelf.
(ii) Interest in the mineral estate in
Federal lands in the State of California that
are available for sale under the Mineral
Leasing Act (30 U.S.C. 181 et seq.) or other
law administered by the Secretary.
(iii) Interests in the surface estate in
Federal lands in the State of California that
are under the administrative jurisdiction of
the Secretary and that are available for
disposal.
(e) Treatment of Credits.--
(1) Term.--Credits provided under subsection (d) shall
expire at the end of the 10-year period beginning on the date
the credits are issued by the Secretary.
(2) Assignment.--TMC may assign credits provided to TMC
under subsection (d) to any person who satisfies the same
requirements to hold the Contracts as those that applied to TMC
under the Materials Act of 1947.
(f) Referral to Court of Claims.--
(1) Referral.--If within 12 months after the date of
enactment of this Act, the Secretary and TMC do not reach
agreement under subsections (b), (c), and (d) regarding the
financial and mineral production opportunities to be provided
by the Secretary to TMC under subsection (b)(1), or, if within
3 months after TMC receives notice in accordance with
subsection (b)(4) of the fair market value determined by the
Secretary of the surface and mineral estate identified in the
maps referred to in subsection (d) TMC or the city of
Victorville, California, notifies the Secretary that it
disagrees with the Secretary's determination, the Secretary
shall refer the issues upon which TMC, or the city of
Victorville, California, and the Secretary are not in agreement
with respect to such an agreement or fair market value to the
United States Court of Federal Claims for resolution
(2) Resolution by court.--In any referral under this
subsection, the court shall--
(A) determine de novo the values described in
subsection (b) and (d), including the fair market
values of the surface and mineral estates as described
and delineated on the maps referred to in subsection
(d)(1); and
(B) determine and order the Secretary to provide
financial and mineral production opportunities
consistent with subparagraph (A), for purposes of
subsections (b)(1) and (d).

SEC. 5. LIMITATIONS ON FUTURE LEASING FOR LAND OR MINERAL ESTATE IN THE
VICTOR VALLEY AREA OF CALIFORNIA.

Notwithstanding anything in this Act to the contrary, prior to any
lease, transfer, or other disposition of land or any mineral or surface
estate for any area that is located in the city of Victorville,
California, the city of Victorville's sphere of influence, or the city
of Victorville's proposed sphere of influence, all as delineated on the
map entitled ''Cemex USA and City of Victorville, California Land
Disposal and Acquisition Agreement'' and on file with the Secretary,
the Secretary shall--
(1) consult with the city of Victorville, California, and
surface owners in that area; and
(2) prohibit mining in that area.

Ex Output:
Soledad Canyon Mine Act - Instructs the Secretary of the Interior to cancel Bureau of Land Management mineral contracts CA-20139 and CA-22901 and withdraw from further mineral entry the areas subject to them, which are located in Soledad Canyon adjacent to Santa Clarita, California.

Requires Transit Mixed Concrete Corporation to receive, as compensation for cancellation of the contracts, their fair market value and its expenditures and covered liabilities in trying to bring the contracts into commercial production.

Increases the adjusted basis of the contracts upon cancellation for federal tax purposes.

Directs the Secretary, before any disposition of land, mineral or surface estate for any area located in the city of Victorville, California, to: (1) consult with the city and surface owners; and (2) prohibit mining in such area.

Ex Input:
SECTION 1. SHORT TITLE.

This Act may be cited as the ''Health Care Waiver Fairness Act of
2011''.

SEC. 2. PPACA WAIVER PROCESS.

(a) In General.--Title I of the Patient Protection and Affordable
Care Act (Public Law 111-148) is amended by adding at the end the
following new subtitle:

''Subtitle G--Waiver Process

''SEC. 1601. ESTABLISHMENT OF WAIVER PROCESS.

''(a) In General.--The applicable authorities (as defined in
subsection (c)) shall collectively establish a process (in this section
referred to as the 'waiver process') under which the administrator of a
health plan, an employer, an individual, or other entity may seek to
waive the application of a requirement under this title with respect to
such plan, employer, individual, or entity. Among the requirements
under this title, such process shall apply to the following:
''(1) Section 5000A of the Internal Revenue Code of 1986
(relating to requirement to maintain minimum essential
coverage), as inserted by section 1501(b).
''(2) Section 6055 of the Internal Revenue Code of 1986
(relating to reporting of health insurance coverage), as
inserted by section 1502(a).
''(3) Section 18A of the Fair Labor Standards Act of 1938
(42 U.S.C. 218a, relating to automatic enrollment for employees
of large employers), as inserted by section 1511.
''(4) Section 18B of the Fair Labor Standards Act of 1938
(42 U.S.C. 218b, relating to notice to employees), as inserted
by section 1512.
''(5) Section 4980H of the Internal Revenue Code of 1986
(relating to shared responsibility for employers regarding
health coverage), as inserted by section 1513(a).
''(6) Section 6056 of the Internal Revenue Code of 1986
(relating to certain employers required to report on health
insurance coverage), as inserted by section 1514(a).
''(7) Section 10108 (relating to free choice vouchers).
''(8) Regulations regarding the treatment of group health
plans or health insurance coverage as a grandfathered health
plan (as defined in section 1251(e)).
''(9) Section 2718(b) of the Public Health Service Act
(relating to medical loss ratios), as inserted by section 1001.
''(b) Waiver Process.--
''(1) In general.--The applicable authorities shall
establish the waiver process consistent with the following:
''(A) Notice and guidance.--Public notice and
guidance shall be provided regarding the process for
submission of waiver requests.
''(B) Standard.--A waiver request with respect to
the application of a requirement to a plan, employer,
individual, or entity shall be accompanied by a
statement that--
''(i) identifies the specific requirement
(or requirements) to be waived; and
''(ii) describes how the imposition of each
specific requirement for which a waiver is
requested on the plan, employer, individual, or
entity would result in a significant decrease
in access to coverage or a significant increase
in premiums or other costs for such plan,
employer, individual, or entity.
''(C) Deemed approval.--A waiver request filed that
is accompanied by such a statement shall be deemed to
be approved.
''(D) Publication of data.--The applicable
authorities shall regularly publish data regarding the
waiver requests received for the different
requirements.
''(2) Treatment of approved waivers.--In the case of
approval under the waiver process of a waiver request with
respect to a requirement of this title and an entity,
notwithstanding any other provision of law, such requirement
shall not apply to such entity on and after the date of
approval of the request.
''(3) Relation to other exemptions and exceptions.--Nothing
in this section shall be construed as superceding other
provisions of this title insofar as they provide for
exceptions, exemptions, or other special treatment with respect
to requirements under this title.
''(c) Applicable Authority.--In this section, the term 'applicable
authority' means--
''(1) except as otherwise provided in this subsection, the
Secretary of Health and Human Services;
''(2) the Secretary of Labor with respect to the provisions
of this title, including amendments made by this title, that
are administered by such Secretary; and
''(3) the Secretary of the Treasury with respect to the
provisions of this title, including amendments made by this
title, that are administered by such Secretary, including
sections of the Internal Revenue Code of 1986 specified in
subsection (a).
''(d) References to Requirements Under This Title.--In this
section, a reference to a requirement under this title include such a
requirement under an amendment made by this title, including as amended
by title X of this Act or by the provisions of the Health Care and
Education Reconciliation Act of 2010 (Public Law 111-152).
''(e) Public Awareness Campaign.--Of the amounts available in the
Prevention and Public Health Fund established under section 4002,
notwithstanding any other provision of law, $50,000,000 shall be
available to and expended by the Secretary of Health and Human Services
to conduct, in coordination with other applicable authorities, a public
awareness campaign of the waiver process. Amounts made available under
this subsection shall remain available until expended.''.
(b) Clerical Amendment.--The table of contents of such Act is
amended by adding at the end of the items relating to title I the
following:

''Subtitle G--Waiver Process

''Sec. 1601. Establishment of waiver process.''.

Ex Output:
Health Care Waiver Fairness Act of 2011 - Amends the Patient Protection and Affordable Care Act (PPACA) to require the Secretary of Health and Human Services (HHS), the Secretary of Labor, and the Secretary of Treasury to establish waiver processes under which the administrator of a health plan, an employer, an individual, or other entity may seek to waive the application of a health insurance coverage requirement under PPACA. Sets forth PPACA requirements that may be waived, including those related to minimum essential coverage and employers offering health care coverage to employees.

Establishes requirements for the waiver process, including requiring submission of a statement describing how the imposition of the PPACA requirement would result in a significant decrease in access to coverage or a significant increase in premiums or other costs for such plan, employer, individual, or entity. Deems to be approved any waiver including such a statement.

Requires the Secretary of HHS to conduct a public awareness campaign of the waiver process with funds made available for the Prevention and Public Health Fund.

Ex Input:
SECTION 1. SHORT TITLE.

This Act may be cited as the ''Rural Entrepreneur and
Microenterprise Assistance Act''.

SEC. 2. RURAL ENTREPRENEUR AND MICROENTERPRISE ASSISTANCE PROGRAM.

Subtitle D of the Consolidated Farm and Rural Development Act is
amended by inserting after section 364 (7 U.S.C. 2006f) the following:

''SEC. 365. RURAL ENTREPRENEUR AND MICROENTERPRISE ASSISTANCE PROGRAM.

''(a) Definitions.--In this section:
''(1) Economically disadvantaged microentrepreneur.--The
term 'economically disadvantaged microentrepreneur' means an
owner, majority owner, or developer of a microenterprise that
has the ability to compete in the private sector but has been
impaired because of diminished capital and credit
opportunities, as compared to other microentrepreneurs in the
industry.
''(2) Indian tribe.--The term 'Indian tribe' has the
meaning given the term in section 4 of the Indian Self-
Determination and Education Assistance Act (25 U.S.C. 450b).
''(3) Intermediary.--The term 'intermediary' means a
private, nonprofit entity that provides assistance--
''(A) to a microenterprise development
organization; or
''(B) for a microenterprise development program.
''(4) Low-income individual.--The term low-income
individual means an individual with an income (adjusted for
family size) of not more than the greatest of--
''(A) 80 percent of median income of an area;
''(B) 80 percent of the statewide non-metropolitan
area median income; or
''(C) 80 percent of the national median income.
''(5) Microcredit.--The term 'microcredit' means a business
loan or loan guarantee of not more than $50,000 that is
provided to a rural entrepreneur.
''(6) Microenterprise.--The term 'microenterprise' means--
''(A) a sole proprietorship; or
''(B) a business entity with not more than 10 full-
time-equivalent employees.
''(7) Microenterprise development organization.--
''(A) In general.--The term 'microenterprise
development organization' means a private, nonprofit
entity that--
''(i) provides training and technical
assistance to rural entrepreneurs; and
''(ii) facilitates access to capital or
another service described in subsection (b) for
rural entrepreneurs.
''(B) Inclusions.--The term 'microenterprise
development organization' includes an organization
described in subparagraph (A) with a demonstrated
record of delivering services to economically
disadvantaged microentrepreneurs, or an effective plan
to develop a program to deliver microenterprise
services to rural entrepreneurs effectively, as
determined by the Secretary.
''(8) Microenterprise development program.--The term
'microenterprise development organization' means a program
administered by an organization serving a rural area.
''(9) Microentrepreneur.--The term 'microentrepreneur'
means the owner, operator, or developer of a microenterprise.
''(10) Program.--The term 'program' means the rural
entrepreneur and microenterprise program established under
subsection (b)(1).
''(11) Qualified organization.--The term 'qualified
organization' means--
''(A) a microenterprise development organization or
microenterprise development program that has a
demonstrated record of delivering microenterprise
services to rural entrepreneurs, or an effective plan
to develop a program to deliver microenterprise
services to rural entrepreneurs effectively, as
determined by the Secretary.
''(B) an intermediary that has a demonstrated
record of delivery assistance to microenterprise
development organizations or microenterprise
development programs;
''(C) a microenterprise development organization or
microenterprise development program that serves rural
entrepreneurs;
''(D) an Indian tribe, the tribal government of
which certifies to the Secretary that no
microenterprise development organization or
microenterprise development program exists under the
jurisdiction of the Indian tribe;
''(E) a group of 2 or more organizations or Indian
tribes described in any of subparagraphs (A) through
(D) that agree to act jointly as a qualified
organization under this section; or
''(F) for purposes of subsection (b), a public
college or university.
''(12) Rural area.--The term 'rural area' means any
community that is rural in character and has a population of
not more than 25,000 individuals.
''(13) Rural capacity building service.--The term 'rural
capacity building service' means a service provided to an
organization that--
''(A) is, or is in the process of becoming, a
microenterprise development organization or
microenterprise development program; and
''(B) serves rural areas for the purpose of
enhancing the ability of the organization to provide
training, technical assistance, and other related
services to rural entrepreneurs.
''(14) Rural entrepreneur.--The term 'rural entrepreneur'
means a microentrepreneur, or prospective microentrepreneur--
''(A) the principal place of business of which is
in a rural area; and
''(B) that is unable to obtain sufficient training,
technical assistance, or microcredit elsewhere, as
determined by the Secretary.
''(15) Secretary.--The term 'Secretary' means the Secretary
of Agriculture, acting through the Rural Business-Cooperative
Service.
''(16) Tribal government.--The term 'tribal government'
means the governing body of an Indian tribe.
''(b) Rural Entrepreneurship and Microenterprise Program.--
''(1) Establishment.--The Secretary shall establish a rural
entrepreneurship and microenterprise program.
''(2) Purpose.--The purpose of the program shall be to
provide low-income individuals and moderate-income individuals
with--
''(A) the skills necessary to establish new small
businesses in rural areas; and
''(B) continuing technical and financial assistance
as individuals and business starting or operating small
businesses.
''(3) Grants.--
''(A) In general.--The Secretary may make a grant
under the program to a qualified organization--
''(i) to provide training, operational
support, or a rural capacity building service
to a qualified organization to assist the
qualified organization in developing
microenterprise training, technical assistance,
market development assistance, and other
related services, primarily for business with 5
or fewer full-time-equivalent employees;
''(ii) to assist in researching and
developing the best practices in delivering
training, technical assistance, and microcredit
to rural entrepreneurs; and
''(iii) to carry out such other projects
and activities as the Secretary determines to
be consistent with the purposes of this
section.
''(B) Subgrants.--Subject to such regulations as
the Secretary may promulgate, a qualified organization
that receives a grant under this paragraph may use the
grant to provide assistance to other qualified
organizations, such as small or emerging qualified
organizations.
''(C) Diversity.--In making grants under this
paragraph, the Secretary shall ensure, to the maximum
extent practicable, that grant recipients include
qualified organizations--
''(i) of varying sizes; and
''(ii) that serve racially- and ethnically-
diverse populations.
''(D) Cost sharing.--
''(i) Federal share.--The Federal share of
the cost of a project carried out using funds
from a grant made under this paragraph shall be
75 percent.
''(ii) Form of non-federal share.--The non-
Federal share of the cost of a project
described in clause (i) may be provided--
''(I) in cash (including through
fees, grants (including community
development block grants), and gifts);
or
''(II) in kind.
''(4) Rural microloan program.--
''(A) Establishment.--In carrying out the program,
the Secretary may carry out a rural microloan program.
''(B) Purpose.--The purpose of the rural microloan
program shall be to provide technical and financial
assistance to sole proprietorships and small businesses
located in rural areas with a particular focus on those
businesses with 5 or fewer full-time equivalent
employees.
''(C) Authority of secretary.--In carrying out the
rural microloan program, the Secretary may--
''(i) make direct loans to qualified
organizations for the purpose of making short-
term, fixed interest rate microloans to
startup, newly established, and growing rural
microbusiness concerns; and
''(ii) in conjunction with those loans,
provide grants in accordance with subparagraph
(E) to those qualified organizations for the
purpose of providing intensive marketing,
management, and technical assistance to small
business concerns that are borrowers under this
paragraph.
''(D) Loan duration; interest rates; conditions.--
''(i) Loan duration.--A loan made by the
Secretary under this paragraph shall be for a
term of 20 years.
''(ii) Applicable interest rates.--A loan
made by the Secretary under this paragraph to a
qualified organization shall bear an annual
interest rate of at least 1 percent.
''(iii) Deferral of interest and
principal.--The Secretary may permit the
deferral of payments, for principal and
interest, on a loan made under this paragraph
for a period of not more than 2 years,
beginning on the date on which the loan was
made.
''(E) Grant amounts.--
''(i) In general.--Except as otherwise
provided in this section, each qualified
organization that receives a loan under this
paragraph shall be eligible to receive a grant
to provide marketing, management, and technical
assistance to small business concerns that are
borrowers or potential borrowers under this
subsection.
''(ii) Maximum amount of grant for
microenterprise development organizations.--
Each microenterprise development organization
that receives a loan under this paragraph shall
receive an annual grant in an amount equal to
not more than 25 percent of the total
outstanding balance of loans made to the
microenterprise development organization under
this paragraph, as of the date of provision of
the grant.
''(iii) Matching requirement.--
''(I) In general.--As a condition
of any grant made to a qualified
organization under this subparagraph,
the Secretary shall require the
qualified organization to match not
less than 15 percent of the total
amount of the grant.
''(II) Sources.--In addition to
cash from non-Federal sources, a
matching share provided by the
qualified organization may include
indirect costs or in-kind contributions
funded under non-Federal programs.
''(c) Administrative Expenses.--Not more than 10 percent of
assistance received by a qualified organization for a fiscal year under
this section may be used to pay administrative expenses.
''(d) Funding.--
''(1) In general.--Not later than 30 days after the date of
enactment of this Act, and on October 1, 2008, and each October
1 thereafter through October 1, 2012, out of any funds in the
Treasury not otherwise appropriated, the Secretary of the
Treasury shall transfer to the Secretary to carry out this
section $50,000,000, to remain available until expended.
''(2) Allocation of funds.--Of the amount made available by
paragraph (1) for each fiscal year--
''(A) not less than $30,000,000 shall be available
for use in carrying out subsection (b)(3); and
''(B) not less than $20,000,000 shall be available
for use in carrying out subsection (b)(4), of which not
more than $7,000,000 shall be used to support direct
loans.
''(C) Receipt and acceptance.--The Secretary shall
be entitled to receive, shall accept, and shall use to
carry out this section the funds transferred under
paragraph (1), without further appropriation.''.

Ex Output:
Rural Entrepreneur and Microenterprise Assistance Act - Amends the Consolidated Farm and Rural Development Act to direct the Secretary of Agriculture to establish a rural entrepreneur and microenterprise (sole proprietorship or business entity with not more than 10 full-time employees) program to help low- and moderate- income individuals acquire: (1) necessary skills to establish small rural businesses; and (2) technical and financial assistance.

Authorizes the Secretary to carry out a related rural microloan program to provide technical and financial assistance to sole proprietorships and small rural businesses with a particular focus on businesses with five or fewer full-time employees.