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

Input: Consider Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Farm and Ranch Risk Management
Act''.

SEC. 2. FARM AND RANCH RISK MANAGEMENT ACCOUNTS.

(a) In General.--Subpart C of part II of subchapter E of chapter 1
of the Internal Revenue Code of 1986 (relating to taxable year for
which deductions taken) is amended by inserting after section 468B the
following:

''SEC. 468C. FARM AND RANCH RISK MANAGEMENT ACCOUNTS.

''(a) Deduction Allowed.--In the case of an individual engaged in
an eligible farming business or commercial fishing, there shall be
allowed as a deduction for any taxable year the amount paid in cash by
the taxpayer during the taxable year to a Farm and Ranch Risk
Management Account (hereinafter referred to as the 'FARRM Account').
''(b) Limitation.--
''(1) Contributions.--The amount which a taxpayer may pay
into the FARRM Account for any taxable year shall not exceed 20
percent of so much of the taxable income of the taxpayer
(determined without regard to this section) which is
attributable (determined in the manner applicable under section
1301) to any eligible farming business or commercial fishing.
''(2) Distributions.--Distributions from a FARRM Account
may not be used to purchase, lease, or finance any new fishing
vessel, add capacity to any fishery, or otherwise contribute to
the overcapitalization of any fishery. The Secretary of
Commerce shall implement regulations to enforce this paragraph.
''(c) Eligible Businesses.--For purposes of this section--
''(1) Eligible farming business.--The term 'eligible
farming business' means any farming business (as defined in
section 263A(e)(4)) which is not a passive activity (within the
meaning of section 469(c)) of the taxpayer.
''(2) Commercial fishing.--The term 'commercial fishing'
has the meaning given such term by section (3) of the Magnuson-
Stevens Fishery Conservation and Management Act (16 U.S.C.
1802) but only if such fishing is not a passive activity
(within the meaning of section 469(c)) of the taxpayer.
''(d) FARRM Account.--For purposes of this section--
''(1) In general.--The term 'FARRM Account' means a trust
created or organized in the United States for the exclusive
benefit of the taxpayer, but only if the written governing
instrument creating the trust meets the following requirements:
''(A) No contribution will be accepted for any
taxable year in excess of the amount allowed as a
deduction under subsection (a) for such year.
''(B) The trustee is a bank (as defined in section
408(n)) or another person who demonstrates to the
satisfaction of the Secretary that the manner in which
such person will administer the trust will be
consistent with the requirements of this section.
''(C) The assets of the trust consist entirely of
cash or of obligations which have adequate stated
interest (as defined in section 1274(c)(2)) and which
pay such interest not less often than annually.
''(D) All income of the trust is distributed
currently to the grantor.
''(E) The assets of the trust will not be
commingled with other property except in a common trust
fund or common investment fund.
''(2) Account taxed as grantor trust.--The grantor of a
FARRM Account shall be treated for purposes of this title as
the owner of such Account and shall be subject to tax thereon
in accordance with subpart E of part I of subchapter J of this
chapter (relating to grantors and others treated as substantial
owners).
''(e) Inclusion of Amounts Distributed.--
''(1) In general.--Except as provided in paragraph (2),
there shall be includible in the gross income of the taxpayer
for any taxable year--
''(A) any amount distributed from a FARRM Account
of the taxpayer during such taxable year, and
''(B) any deemed distribution under--
''(i) subsection (f)(1) (relating to
deposits not distributed within 5 years),
''(ii) subsection (f)(2) (relating to
cessation in eligible farming business), and
''(iii) subparagraph (A) or (B) of
subsection (f)(3) (relating to prohibited
transactions and pledging account as security).
''(2) Exceptions.--Paragraph (1)(A) shall not apply to--
''(A) any distribution to the extent attributable
to income of the Account, and
''(B) the distribution of any contribution paid
during a taxable year to a FARRM Account to the extent
that such contribution exceeds the limitation
applicable under subsection (b) if requirements similar
to the requirements of section 408(d)(4) are met.
For purposes of subparagraph (A), distributions shall be
treated as first attributable to income and then to other
amounts.
''(f) Special Rules.--
''(1) Tax on deposits in account which are not distributed
within 5 years.--
''(A) In general.--If, at the close of any taxable
year, there is a nonqualified balance in any FARRM
Account--
''(i) there shall be deemed distributed
from such Account during such taxable year an
amount equal to such balance, and
''(ii) the taxpayer's tax imposed by this
chapter for such taxable year shall be
increased by 10 percent of such deemed
distribution.
The preceding sentence shall not apply if an amount
equal to such nonqualified balance is distributed from
such Account to the taxpayer before the due date
(including extensions) for filing the return of tax
imposed by this chapter for such year (or, if earlier,
the date the taxpayer files such return for such year).
''(B) Nonqualified balance.--For purposes of
subparagraph (A), the term 'nonqualified balance' means
any balance in the Account on the last day of the
taxable year which is attributable to amounts deposited
in such Account before the 4th preceding taxable year.
''(C) Ordering rule.--For purposes of this
paragraph, distributions from a FARRM Account (other
than distributions of current income) shall be treated
as made from deposits in the order in which such
deposits were made, beginning with the earliest
deposits.
''(2) Cessation in eligible business.--At the close of the
first disqualification period after a period for which the
taxpayer was engaged in an eligible farming business or
commercial fishing, there shall be deemed distributed from the
FARRM Account of the taxpayer an amount equal to the balance in
such Account (if any) at the close of such disqualification
period. For purposes of the preceding sentence, the term
'disqualification period' means any period of 2 consecutive
taxable years for which the taxpayer is not engaged in an
eligible farming business or commercial fishing.
''(3) Certain rules to apply.--Rules similar to the
following rules shall apply for purposes of this section:
''(A) Section 220(f)(8) (relating to treatment on
death).
''(B) Section 408(e)(2) (relating to loss of
exemption of account where individual engages in
prohibited transaction).
''(C) Section 408(e)(4) (relating to effect of
pledging account as security).
''(D) Section 408(g) (relating to community
property laws).
''(E) Section 408(h) (relating to custodial
accounts).
''(4) Time when payments deemed made.--For purposes of this
section, a taxpayer shall be deemed to have made a payment to a
FARRM Account on the last day of a taxable year if such payment
is made on account of such taxable year and is made on or
before the due date (without regard to extensions) for filing
the return of tax for such taxable year.
''(5) Individual.--For purposes of this section, the term
'individual' shall not include an estate or trust.
''(6) Deduction not allowed for self-employment tax.--The
deduction allowable by reason of subsection (a) shall not be
taken into account in determining an individual's net earnings
from self-employment (within the meaning of section 1402(a))
for purposes of chapter 2.
''(g) Reports.--The trustee of a FARRM Account shall make such
reports regarding such Account to the Secretary and to the person for
whose benefit the Account is maintained with respect to contributions,
distributions, and such other matters as the Secretary may require
under regulations. The reports required by this subsection shall be
filed at such time and in such manner and furnished to such persons at
such time and in such manner as may be required by such regulations.''.
(b) Tax on Excess Contributions.--
(1) Subsection (a) of section 4973 of such Code (relating
to tax on excess contributions to certain tax-favored accounts
and annuities) is amended by striking ''or'' at the end of
paragraph (3), by redesignating paragraph (4) as paragraph (5),
and by inserting after paragraph (3) the following:
''(4) a FARRM Account (within the meaning of section
468C(d)), or''.
(2) Section 4973 of such Code is amended by adding at the
end the following:
''(g) Excess Contributions to FARRM Accounts.--For purposes of this
section, in the case of a FARRM Account (within the meaning of section
468C(d)), the term 'excess contributions' means the amount by which the
amount contributed for the taxable year to the Account exceeds the
amount which may be contributed to the Account under section 468C(b)
for such taxable year. For purposes of this subsection, any
contribution which is distributed out of the FARRM Account in a
distribution to which section 468C(e)(2)(B) applies shall be treated as
an amount not contributed.''.
(3) The section heading for section 4973 of such Code is
amended to read as follows:

''SEC. 4973. EXCESS CONTRIBUTIONS TO CERTAIN ACCOUNTS, ANNUITIES,
ETC.''.

(4) The table of sections for chapter 43 of such Code is
amended by striking the item relating to section 4973 and
inserting the following:

''Sec. 4973. Excess contributions to
certain accounts, annuities,
etc.''.
(c) Tax on Prohibited Transactions.--
(1) Subsection (c) of section 4975 of such Code (relating
to tax on prohibited transactions) is amended by adding at the
end the following:
''(6) Special rule for farrm accounts.--A person for whose
benefit a FARRM Account (within the meaning of section 468C(d))
is established shall be exempt from the tax imposed by this
section with respect to any transaction concerning such account
(which would otherwise be taxable under this section) if, with
respect to such transaction, the account ceases to be a FARRM
Account by reason of the application of section 468C(f)(3)(A)
to such account.''.
(2) Paragraph (1) of section 4975(e) of such Code is
amended by redesignating subparagraphs (E) and (F) as
subparagraphs (F) and (G), respectively, and by inserting after
subparagraph (D) the following:
''(E) a FARRM Account described in section
468C(d),''.
(d) Failure To Provide Reports on FARRM Accounts.--Paragraph (2) of
section 6693(a) of such Code (relating to failure to provide reports on
certain tax-favored accounts or annuities) is amended by redesignating
subparagraphs (C) and (D) as subparagraphs (D) and (E), respectively,
and by inserting after subparagraph (B) the following:
''(C) section 468C(g) (relating to FARRM
Accounts),''.
(e) Clerical Amendment.--The table of sections for subpart C of
part II of subchapter E of chapter 1 of such Code is amended by
inserting after the item relating to section 468B the following:

''Sec. 468C. Farm and Ranch Risk
Management Accounts.''.
(f) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after the date of the enactment of
this Act.

Output: Farm and Ranch Risk Management Act - Amends the Internal Revenue Code to allow an individual engaged in an eligible farming or commercial fishing business a deduction for any taxable year of up to 20 percent of taxable income attributable to the eligible farming or commercial fishing business which was paid in cash by the taxpayer to a Farm and Ranch Risk Management Account (FARRM Account).Includes distributions from a FARRM account in the taxpayer's gross income, and subjects to a special ten percent surtax any distributions not made within five years of contribution. Establishes a tax on excess contributions, but exempts the taxpayer from the tax on certain prohibited transactions.

Input: Consider Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Student Loan Fairness Consolidation
Act of 2003''.

SEC. 2. AUTHORITY TO REFINANCE EXISTING CONSOLIDATION LOANS.

(a) FFEL Consolidation Loans.--Section 428C(a)(3)(B) of the Higher
Education Act of 1965 (20 U.S.C. 1078-3(a)(3)(B)) is amended by adding
at the end the following new clause:
''(ii) Notwithstanding clause (i) of this subparagraph, a
borrower of a consolidation loan on which the interest is
established at a fixed rate under section 427A, 428C(c), or 455
may obtain a subsequent consolidation loan for the purposes of
refinancing such earlier consolidation loan at a variable rate
of interest under section 427A(m) or 455(b)(8), except that the
authority to refinance a consolidation loan under this clause
shall not apply to a consolidation loan that was used
exclusively to repay loans made under section 428B or Federal
Direct PLUS Loans (or both such loans).''.
(b) Parallel Terms for Federal Direct Consolidation Loans.--Section
455(a) of the Higher Education Act of 1965 (20 U.S.C. 1087e(a)) is
amended--
(1) in paragraph (1), by inserting ''428C,'' after
''428B,''; and
(2) in paragraph (2)--
(A) by striking ''and'' at the end of subparagraph
(B);
(B) by redesignating subparagraph (C) as
subparagraph (D); and
(C) by inserting after subparagraph (B) the
following:
''(C) section 428C shall be known as 'Federal
Direct Consolidation Loans'.''.

SEC. 3. AVAILABILITY OF VARIABLE INTEREST RATE CONSOLIDATION LOANS.

(a) FFEL Consolidation Loans.--Section 427A of the Higher Education
Act of 1965 (20 U.S.C. 1077a) is amended--
(1) by redesignating subsection (m) and (n) as subsections
(n) and (o), respectively; and
(2) by inserting after subsection (l) the following:
''(m) Variable Interest Rate Consolidation Loans.--
''(1) Variable rate.--Notwithstanding subsections (h), (k),
and (l), with respect to any loan made pursuant to section 428C
for which the first disbursement is made on or after the date
of enactment of the Student Loan Fairness Consolidation Act of
2003, the applicable rate of interest shall, during any 12-
month period beginning on July 1 and ending on June 30, be
determined on the preceding June 1 and be equal to--
''(A) the bond equivalent rate of 91-day Treasury
bills auctioned at the final auction held prior to such
June 1; plus
''(B) 2.3 percent,
except that such rate shall not exceed 8.25 percent.
''(2) Recovery of excess interest.--If, with respect to a
consolidation loan on which the applicable interest rate is
determined under this subsection, the applicable interest rate
for any 3-month period exceeds the special allowance rate
applicable to such loan under section 438(b)(2)(I) for such
period, then an adjustment shall be made--
''(A) by calculating the excess interest in the
amount computed under paragraph (3) of this subsection;
and
''(B) by crediting the excess interest to the
Government.
''(3) Amount of adjustment.--The amount of any adjustment
of interest on a loan to be made under this subsection for any
quarter shall be equal to--
''(A) the applicable interest rate minus the
special allowance rate determined under section
438(a)(2)(I); multiplied by
''(B) the average daily principal balance of the
loan (not including unearned interest added to
principal) during such calendar quarter; divided by
''(C) four.
''(4) Inapplicability to consolidation loans used to repay
plus loans.--The provisions of paragraph (1) of this subsection
shall not apply to a consolidation loan that was used
exclusively to repay loans made under section 428B or Federal
Direct PLUS Loans (or both such loans).''.
(b) Federal Direct Consolidation Loans.--Section 455(b) of the
Higher Education Act of 1965 (20 U.S.C. 1087e(b)) is amended--
(1) by redesignating paragraphs (8) and (9) as paragraphs
(9) and (10), respectively; and
(2) by inserting after paragraph (7) the following:
''(8) Variable interest rate consolidation loans.--
''(A) Variable rate.--Notwithstanding the preceding
paragraphs of this subsection, with respect to any
Federal Direct Consolidation Loan for which the first
disbursement is made on or after the date of enactment
of the Student Loan Fairness Consolidation Act of 2003,
the applicable rate of interest shall, during any 12-
month period beginning on July 1 and ending on June 30,
be determined on the preceding June 1 and be equal to--
''(i) the bond equivalent rate of 91-day
Treasury bills auctioned at the final auction
held prior to such June 1; plus
''(ii) 2.3 percent,
except that such rate shall not exceed 8.25 percent.
''(B) Inapplicability to consolidation loans used
to repay plus loans.--The provisions of this subsection
shall not apply to a consolidation loan that was used
exclusively to repay loans made under section 428B or
Federal Direct PLUS Loans (or both such loans).''.
(c) Conforming Amendment.--Section 438(b)(2)(I) is amended by
striking ''section 427A(k)(4) or (l)(3)'' each place it appears in
clauses (iv) and (vi) and inserting ''section 427A(k)(4), (l)(3), or
(m)''.

Output: Student Loan Fairness Consolidation Act of 2003 - Amends the Higher Education Act of 1965 to revise student aid requirements for Federal consolidation loans under the Federal Family Education Loan program, and establish parallel requirements under a Federal Direct Consolidation Loan program, to: (1) allow borrowers to refinance existing consolidation loans; and (2) make available variable interest rate consolidation loans. Excludes consolidation loans for repaying Federal PLUS loans (taken out by parents of students) from such provisions for refinancing and variable interest rates.

Input: Consider Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Violent and Repeat Offender
Accountability Act of 1993''.

SEC. 2. FINDINGS AND PURPOSE.

(a) Findings.--The Congress finds that--
(1) it is the responsibility of the Federal Government to
provide States help in certain areas, including efforts to
reduce violent crime;
(2) Federal legislation relating to criminal justice,
including the Racketeer Influenced and Corrupt Organizations
Act (''RICO'') and the Federal Sentencing Guidelines, has been
very effective in dealing with crimes to which the legislation
applies;
(3) the responsibility for protecting citizens against most
violent crimes and for punishing most violent criminal
offenders is primarily a matter of State and local governance;
(4) violent crimes nationwide have risen dramatically and
constitute a national priority of the highest order;
(5) the persistence and increasing incidence of violent
crime, despite the efforts of State and local governments, has
resulted in a vastly increased Federal role in this area, and
there is pressure for even greater Federal involvement in
criminal matters traditionally handled by State and local
governments;
(6) the Federal courts especially have become overburdened
with criminal matters more properly handled by State and local
governments;
(7) a major impetus for this increased Federal role in
combating violent crime is the lack of effective tools with
which State and local governments can prosecute violent
criminal offenders;
(8) a more uniform, proportionate, and appropriately
punitive system of sentencing for violent criminal offenders
would serve both to reduce the incidence of violent crime and
to reduce the need for direct Federal involvement in criminal
matters traditionally handled by State and local governments;
(9) a more appropriate and effective role for the Federal
Government in the struggle against most violent crime is to
encourage each State to take the steps necessary to reduce
crime in such State which would also reduce the national crime
rate;
(10) the United States Sentencing Guidelines have proven to
be an effective means of achieving, at the Federal level, a
more uniform, proportionate, and appropriately punitive
criminal sentencing system; and
(11) each State should be required to analyze its criminal
sentencing system and to consider whether the adoption of a
revised sentencing system would enable it to combat violent
crime more effectively.
(b) Purposes.--The purposes of this Act are--
(1) to require each State to undertake a comprehensive
examination of the State's criminal sentencing scheme and to
create a sentencing system which more effectively governs the
sentencing of violent offenders; and
(2) to provide funds to States that comply with the
requirements of section 5(b) to implement necessary changes to
the State criminal sentencing system, including increasing the
capacity of State correctional facilities if necessary.

SEC. 3. DEFINITION.

For the purpose of this Act, the term ''State'' means any State of
the United States.

SEC. 4. STATE SENTENCING REVIEWS.

(a) In General.--Each State, in order to be eligible for funds
under this Act, must conduct a systematic review of its criminal
sentencing laws and practices.
(b) State Sentencing Reviews.--Not later than one year after the
date of enactment of this Act, the government of each State shall
submit to the Attorney General a report detailing the results of the
State's review of its criminal sentencing system. The report also shall
include the following:
(1) An analysis of the State statutory criminal sentencing
scheme, including information regarding murder (all degrees),
arson, burglary, assault, robbery, kidnapping, extortion, rape,
and child molestation. This analysis should include--
(A) the minimum and maximum sentence available for
each offense;
(B) the basis for distinguishing between different
degrees of the same offense;
(C) whether factors in addition to the actual crime
(such as criminal history, victim impact, or use of a
weapon) should be considered by the sentencing
authority; and
(D) whether probation or some other non-custodial
alternatives to incarceration are a sentencing option.
(2) An analysis of the sentences actually imposed by State
court judges for the crimes listed in paragraph (1).
(3) An analysis of the time which has actually been served
for the conviction of crimes listed in paragraph (1).
(4) An analysis of the practices and procedures of the
State relating to probation, parole, and other alternatives to
incarceration, with particular emphasis on crimes which have
been committed by convicted criminals while on parole or
probation or otherwise not incarcerated.
(5) An analysis of whether the State sentencing system
permits or requires the sentencing authority to order convicted
criminals to pay restitution to the victim, the victim's
family, or the State, and the percentage of restitution orders
which are actually collected.
(6) An analysis of whether and under what circumstances
State law permits the pretrial detention without bond of
dangerous offenders.
(7) An analysis of whether and under what circumstances
State law gives victims the right to be informed, present, and
heard at all critical stages of a case from arrest through
parole.
(8) An analysis of whether and how State law establishes
post conviction relief procedures which limit repetitive
challenges by convicted offenders.
(9) An analysis of State law regarding the application of
adult sentencing laws to juvenile offenders charged with the
crimes listed in section 4(b)(1) of this Act.
(10) An analysis of the State prison capacity and whether
court orders limit, or otherwise impact such capacity and
whether a lack of capacity impacts sentencing or release
decisions at the judicial or administrative level.

SEC. 5. STATE SENTENCING SYSTEMS.

(a) In General.--Each State, in order to comply with this Act, must
submit for approval a plan to the Attorney General that evaluates the
criminal sentencing system and, if necessary, creates a sentencing
system which complies with the requirements of subsection (b).
(b) State Sentencing System.--In addition to responding to the
reporting requirement of section 4(b) of this Act, the State, in a
subsequent report to the Attorney General, shall describe in detail any
changes in the State's criminal sentencing system designed to meet the
requirements of this Act. The elements of a sentencing system that the
States must have in order to be in compliance with this Act shall
include at least the following:
(1) State constitutional or statutory authority for
pretrial detention of dangerous criminals.
(2) Mandatory minimum prison sentences, which do not allow
probation or suspension of sentence, for violent offenders or
repeat offenders who--
(A) intentionally or knowingly inflict serious
physical injury;
(B) use or exhibit deadly weapons in the commission
of the crimes listed in section 4(b)(1) of this Act.
(C) commit violent or sexual offenses against
children; and
(D) commit sexual assault.
(3) Mandatory life sentence with no release for third or
subsequent conviction of violent crime.
(4) Truth in sentencing provisions which restrict parole,
good-time credit release for violent offenders, or other forms
of early release to not more than a total reduction of 15
percent of the sentence imposed.
(5) State constitutional or statutory provisions which
guarantee to victims the right to be informed, present, and
heard at all critical stages of the criminal case, and
provisions to ensure the collection, tracking, and enforcement
of restitution from the offender in all cases involving
economic loss to the victim.

SEC. 6. FUNDING AND COMPLIANCE.

(a) Funding.--There shall be available to carry out the purposes of
this Act, for fiscal year 1994, $1,000,000; for fiscal year 1995,
$1,500,000; for fiscal year 1996, $2,000,000; for fiscal year 1997,
$2,500,000; and for fiscal year 1998, $3,000,000; from amounts
appropriated for foreign operations during such fiscal years
(specifically from the amounts allocated for the Multilateral
Development Banks, the International Development Association, the
Agency for International Development, Public Law 83-480, and the
Export-Import Development Bank) and from amounts appropriated from
Federal land purchases and from amounts appropriated for trade
promotion activities and travel and tourism activities.
(b) Federal Share.--The Federal share of a grant made under this
Act may not exceed 50 percent of the total costs of the projects which
receive funds under this Act.
(c) Compliance.--Beginning 3 years after the date of enactment of
this Act, the Attorney General shall eliminate funding to a State that
does not comply with the requirements of this Act.
Output: Violent and Repeat Offender Accountability Act of 1993 - Requires each State, to be eligible for funds under this Act, to conduct and report to the Attorney General on a systematic review of its criminal sentencing laws and practices, including analyses related to: (1) the State statutory criminal sentencing scheme; (2) sentences actually imposed for specified crimes; (3) time actually served; (4) practices and procedures relating to probation, parole, and other alternatives to incarceration; (5) restitution; (6) pretrial detention; (7) victims rights; (8) post-conviction relief procedures; (9) application of adult sentencing laws to juvenile offenders; and (10) prison capacity.
Directs each State to submit to the Attorney General for approval a plan that evaluates the criminal sentencing system and, if necessary, creates a sentencing system which provides for: (1) State constitutional or statutory authority for pretrial detention of dangerous criminals; (2) mandatory minimum prison sentences which do not allow probation or suspension of sentence, for certain violent or repeat offenders; (3) mandatory life sentence with no release for a third or subsequent conviction of a violent crime; (4) provisions which restrict parole, good-time credit release for violent offenders, or other early release to not more than a total reduction of 15 percent of the sentence imposed; and (5) State constitutional or statutory provisions which guarantee victims the right to be informed, present, and heard at all critical stages of the criminal case, and to ensure the collection, tracking, and enforcement of restitution from the offender in all cases involving economic loss to the victim.
Makes funds available for this Act from amounts appropriated for foreign operations, for trade promotion, travel, and tourism activities, and for Federal land purchases.
Limits the Federal share of grants made under this Act to 50 percent of total project costs.