Detailed Instructions: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Q: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Capital Budget Commission Act of
1994''.

SEC. 2. FINDINGS.

The Congress finds that--
(1) deteriorating infrastructure and the demand for capital
improvements and investment are at a critical stage;
(2) limited funding is available for maintaining the
existing infrastructure and building new infrastructure;
(3) there is increased interest in capital budgeting and
alternative financing options given present and future budget
constraints; and
(4) there is a need for evaluating what is to be included
in a capital budget.

SEC. 3. ESTABLISHMENT.

There is established a commission to be known as the Capital Budget
Commission (hereinafter in this Act referred to as the ''Commission'').

SEC. 4. DUTIES OF COMMISSION.

(a) Study.--The Commission shall study capital budgeting and
evaluate what should be included in a capital budget for the United
States Government. The Commission shall focus on investments that
sustain growth and establish a process which encourages long-term
investment and how to account for that investment.
(b) Reports.--The Commission shall submit a preliminary and final
report pursuant to section 8, each of which shall contain--
(1) a detailed statement of the findings and conclusions of
the Commission on the matters described in subsection (a); and
(2) specific recommendations with respect to--
(A) ways in which the Congress would implement
capital budgeting for the United States Government;
(B) prioritizing what should be included in a
capital budget and establishing a method or formula to
determine how to account for those items; and
(C) possible changes in the executive and
legislative branches which would facilitate the
implementation of a capital budget.

SEC. 5. MEMBERSHIP.

(a) Number and Appointment.--The Commission shall be composed of 15
members, to be appointed not later than 30 days after the date of the
enactment of this Act, as follows:
(1) 3 members appointed by the President.
(2) 3 members, 1 of whom shall be a Senator, appointed by
the President pro tempore of the Senate from among the
recommendations made by the majority leader of the Senate.
(3) 3 members, 1 of whom shall be a Senator, appointed by
the President pro tempore of the Senate from among the
recommendations made by the minority leader of the Senate.
(4) 3 members, 2 of whom shall be Members of the House of
Representatives, appointed by the Speaker of the House of
Representatives.
(5) 3 members, 2 of whom shall be Members of the House of
Representatives, appointed by the minority leader of the House
of Representatives.
(b) Additional Qualifications.--The Commission members (not
including the Members of Congress) shall be chosen from among
individuals who are knowledgable about capital budgeting by virtue of
their education and experience as demonstrated in their professional
careers.
(c) Continuation of Membership.--If a member was appointed to the
Commission as a Member of Congress and the member ceases to be a Member
of Congress, that member may continue as a member for not longer than
the 60-day period beginning on the date that member ceases to be a
Member of Congress.
(d) Terms.--
(1) In general.--Each member of the Commission shall be
appointed for the life of the Commission.
(2) Vacancies.--A vacancy in the Commission shall be filled
in the manner in which the original appointment was made.
(e) Basic Pay.--
(1) Rates of pay.--Except as provided in paragraph (2),
each member of the Commission shall serve without pay.
(2) Travel expenses.--Each member shall receive travel
expenses, including per diem in lieu of subsistence, in
accordance with sections 5702 and 5703 of title 5, United
States Code.
(f) Quorum.--8 members of the Commission shall constitute a quorum
but a lesser number may hold hearings.
(g) Chairperson.--The Chairperson of the Commission shall be
elected by a majority of the members.
(h) Meetings.--The Commission shall meet at the call of the
Chairperson.

SEC. 6. DIRECTOR AND STAFF OF COMMISSION; EXPERTS AND CONSULTANTS.

(a) Director.--The Commission shall have a Director who shall be
appointed by the Chairperson. The Director shall be paid at a rate not
to exceed the maximum rate of basic pay payable for level IV of the
Executive Schedule under section 5315 of title 5, United States Code.
(b) Staff.--Subject to rules prescribed by the Commission, the
Chairperson may appoint and fix the pay of additional personnel as the
Chairperson considers appropriate.
(c) Applicability of Certain Civil Service Laws.--The Director and
staff of the Commission may be appointed without regard to the
provisions of title 5, United States Code, governing appointments in
the competitive service, and may be paid without regard to the
provisions of chapter 51 and subchapter III of chapter 53 of that title
relating to classification and General Schedule pay rates, except that
an individual so appointed may not receive pay in excess of the annual
rate of basic pay payable for level IV of the Executive Schedule under
section 5315 of the title 5, United States Code.
(d) Experts and Consultants.--The Commission may procure temporary
and intermittent services under section 3109(b) of title 5, United
States Code, at rates for individuals not to exceed the maximum annual
rate of basic pay payable for GS-18 of the General Schedule.
(e) Staff of Federal Agencies.--Upon request of the Commission, the
head of any Federal department or agency may detail, on a reimbursable
basis, any of the personnel of that department or agency to the
Commission to assist it in carrying out its duties under this Act.

SEC. 7. POWERS OF COMMISSION.

(a) Hearings and Sessions.--The Commission may, for the purpose of
carrying out this Act, hold hearings, sit and act at times and places,
take testimony, and receive evidence as the Commission considers
appropriate.
(b) Powers of Members and Agents.--Any member or agent of the
Commission may, if authorized by the Commission, take any action which
the Commission is authorized to take by this section.
(c) Obtaining Official Data.--The Commission may secure directly
from any department or agency of the United States information
necessary to enable it to carry out this Act. Upon request of the
Chairperson of the Commission, the head of that department or agency
shall furnish that information to the Commission.
(d) Mails.--The Commission may use the United States mails in the
same manner and under the same conditions as other departments and
agencies of the United States.
(e) Administrative Support Services.--Upon the request of the
Commission, the Administrator of General Services shall provide to the
Commission, on a reimbursable basis, the administrative support
services necessary for the Commission to carry out its responsibilities
under this Act.

SEC. 8. REPORTS.

(a) Preliminary Report.--The Commission shall submit to the
President and the Congress a preliminary report not later than 12
months after the date on which all the members of the Commission have
been appointed.
(b) Final Report.--The Commission shall submit a final report to
the President and the Congress not later than 18 months after the date
on which all the members of the Commission have been appointed.

SEC. 9. TERMINATION.

The Commission shall terminate 30 days after submitting its final
report pursuant to section 8(b).

SEC. 10. AUTHORIZATION OF APPROPRIATIONS.

Amounts shall be made available to carry out this Act only to the
extent such amounts are made available in advance in appropriations
Acts.
A:
Capital Budget Commission Act of 1994 - Establishes the Capital Budget Commission to study and report to the Congress on capital budgeting, including an evaluation of what should be included in a capital budget for the Federal Government. Requires the Commission to: (1) focus on growth-sustaining investments; and (2) establish a process encouraging long-term investment.
Authorizes appropriations.