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

This Act may be cited as the ''Office of Strategic Services
Congressional Gold Medal Act''.

SEC. 2. FINDINGS.

The Congress finds the following:
(1) The Office of Strategic Services (OSS) was America's
first effort to implement a system of strategic intelligence
during World War II and provided the basis for the modern-day
American intelligence and special operations communities. The
U.S. Special Operations Command and the National Clandestine
Service chose the OSS spearhead as their insignias.
(2) OSS founder General William J. Donovan is the only
person in American history to receive our Nation's four highest
decorations, including the Medal of Honor. Upon learning of his
death in 1959, President Eisenhower called General Donovan the
''last hero''. In addition to founding and leading the OSS,
General Donovan was also selected by President Roosevelt, who
called him his ''secret legs'', as an emissary to Great Britain
and continental Europe before the United States entered World
War II.
(3) All the military branches during World War II
contributed personnel to the OSS. The present-day Special
Operations Forces trace their lineage to the OSS. Its Maritime
Unit was a precursor to the U.S. Navy SEALs. The OSS
Operational Groups and Jedburghs were forerunners to U.S. Army
Special Forces. The 801st/492nd Bombardment Group
(''Carpetbaggers'') were progenitors to the Air Force Special
Operations Command. The Marines who served in the OSS,
including the actor Sterling Hayden (a Silver Star recipient),
Col. William Eddy (a Distinguished Service Cross recipient who
was described as the ''nearest thing the United States has had
to a Lawrence of Arabia''), and Col. Peter Ortiz (a two-time
Navy Cross recipient), were predecessors to the Marine Special
Operations Command. U.S. Coast Guard personnel were recruited
for the Maritime Unit and its Operational Swimmer Group.
(4) The OSS organized, trained, supplied, and fought with
resistance organizations throughout Europe and Asia that played
an important role in America's victory during World War II.
General Eisenhower credited the OSS's covert contribution in
France to the equivalent to having an extra military division.
General Eisenhower told General Donovan that if it did nothing
else, the photographic reconnaissance conducted by the OSS
prior to the D-Day Invasion justified its creation.
(5) Four future directors of central intelligence served as
OSS officers: William Casey, William Colby, Allen Dulles, and
Richard Helms.
(6) Women comprised more than one-third of OSS personnel
and played a critical role in the organization. They included
Virginia Hall, the only civilian female to receive a
Distinguished Service Cross in World War II, and Julia Child.
(7) OSS recruited Fritz Kolbe, a German diplomat who became
America's most important spy against the Nazis in World War II.
(8) America's leading scientists and scholars served in the
OSS Research and Analysis Branch, including Ralph Bunche, the
first African-American to receive the Nobel Peace Prize;
Pulitzer Prize-winning historian Arthur Schlesinger, Jr.;
Supreme Court Justice Arthur Goldberg; Sherman Kent; John King
Fairbank; and Walt Rostow. Its ranks included seven future
presidents of the American Historical Association, five of the
American Economic Association, and two Nobel laureates.
(9) The U.S. Department of State's Bureau of Intelligence
and Research traces its creation to the OSS Research and
Analysis Branch.
(10) James Donovan, who was portrayed by Tom Hanks in the
Steven Spielberg movie ''Bridge of Spies'' and negotiated the
release of U-2 pilot Francis Gary Powers, served as General
Counsel of the OSS.
(11) The OSS invented and employed new technology through
its Research and Development Branch, inventing new weapons and
revolutionary communications equipment. Dr. Christian
Lambertsen invented the first underwater rebreathing apparatus
that was first utilized by the OSS and is known today as SCUBA.
(12) OSS Detachment 101 operated in Burma and pioneered the
art of unconventional warfare. It was the first United States
unit to deploy a large guerrilla army deep in enemy territory.
It has been credited with the highest kill/loss ratio for any
infantry-type unit in American military history and was awarded
a Presidential Unit Citation.
(13) Its X-2 branch pioneered counterintelligence with the
British and established the modern counterintelligence
community. The network of contacts built by the OSS with
foreign intelligence services led to enduring Cold War
alliances.
(14) Operation Torch, the Allied invasion of French North
Africa in November 1942, was aided by the networks established
and information acquired by the OSS to guide Allied landings.
(15) OSS Operation Halyard rescued more than 500 downed
airmen trapped behind enemy lines in Yugoslavia, one of the
most daring and successful rescue operations of World War II.
(16) OSS ''Mercy Missions'' at the end of World War II
saved the lives of thousands of Allied prisoners of war whom it
was feared would be murdered by the Japanese.
(17) The handful of surviving men and women of the OSS whom
General Donovan said performed ''some of the bravest acts of
the war'' are members of the ''Greatest Generation''. They have
never been collectively recognized for their heroic and
pioneering service in World War II.

SEC. 3. CONGRESSIONAL GOLD MEDAL.

(a) Presentation Authorized.--The Speaker of the House of
Representatives and the President pro tempore of the Senate shall make
appropriate arrangements for the presentation, on behalf of the
Congress, of a gold medal of appropriate design in commemoration to the
members of the Office of Strategic Services (OSS), in recognition of
their superior service and major contributions during World War II.
(b) Design and Striking.--For purposes of the presentation referred
to in subsection (a), the Secretary of the Treasury (referred to in
this Act as the ''Secretary'') shall strike a gold medal with suitable
emblems, devices, and inscriptions, to be determined by the Secretary.
(c) Smithsonian Institution.--
(1) In general.--Following the award of the gold medal in
commemoration to the members of the Office of Strategic
Services under subsection (a), the gold medal shall be given to
the Smithsonian Institution, where it will be displayed as
appropriate and made available for research.
(2) Sense of congress.--It is the sense of Congress that
the Smithsonian Institution should make the gold medal received
under paragraph (1) available for display elsewhere,
particularly at other appropriate locations associated with the
Office of Strategic Services.

SEC. 4. DUPLICATE MEDALS.

The Secretary may strike and sell duplicates in bronze of the gold
medal struck pursuant to section 3 under such regulations as the
Secretary may prescribe, at a price sufficient to cover the cost
thereof, including labor, materials, dies, use of machinery, and
overhead expenses, and the cost of the gold medal.

SEC. 5. STATUS OF MEDALS.

(a) National Medals.--The medals struck pursuant to this Act are
national medals for purposes of chapter 51 of title 31, United States
Code.
(b) Numismatic Items.--For purposes of section 5134 of title 31,
United States Code, all medals struck under this Act shall be
considered to be numismatic items.
answer:
Office of Strategic Services Congressional Gold Medal Act This bill requires the Speaker of the House of Representatives and the President pro tempore of the Senate to arrange for the presentation of a Congressional Gold Medal to the members of the Office of Strategic Services in recognition of their service and contributions during World War II.

question:
SECTION 1. SHORT TITLE.

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

SEC. 2. DEFINITIONS.

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

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

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

SEC. 4. TREATMENT OF AFFILIATES.

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

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

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

SEC. 6. REPORTING AND RECORDKEEPING.

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

SEC. 7. MARGIN REQUIREMENTS.

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

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

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

question:
SECTION 1. TREATMENT OF BONDS ISSUED TO FINANCE RENEWABLE ENERGY
RESOURCE FACILITIES AND CONSERVATION AND EFFICIENCY
FACILITIES AND OTHER SPECIFIED GREENHOUSE GAS EMISSION
TECHNOLOGIES.

(a) In General.--Section 142(a) of the Internal Revenue Code of
1986 is amended by striking ''or'' at the end of paragraph (14), by
striking the period at the end of paragraph (15) and inserting a comma,
and by inserting after paragraph (15) the following new paragraphs:
''(16) renewable energy resource facilities,
''(17) conservation and efficiency facilities and projects,
or
''(18) zero emission vehicles and related facilities or
projects.''.
(b) Renewable Energy Resource Facility.--Section 142 of such Code
is further amended by adding at the end the following new subsection:
''(n) Renewable Energy Resource Facilities.--For purposes of
subsection (a)(16)--
''(1) In general.--The term 'renewable energy resource
facility' means--
''(A) any facility used to produce electric or
thermal energy (including a distributed generation
facility) from--
''(i) solar, wind, or geothermal energy,
''(ii) marine and hydrokinetic renewable
energy,
''(iii) incremental hydropower,
''(iv) biomass (as defined in section
203(b) of the Energy Policy Act of 2005 (42
U.S.C. 15852(b))), or
''(v) landfill gas, or
''(B) any facility or project used for the
manufacture of facilities referred to in subparagraph
(A).
''(2) Definitions.--For purposes of paragraph (1)--
''(A) Geothermal energy.--The term 'geothermal
energy' means energy derived from a geothermal deposit
(within the meaning of section 613(e)(2)) or from
geothermal heat pumps.
''(B) Marine and hydrokinetic renewable energy.--
The term 'marine and hydrokinetic renewable energy' has
the meaning given such term in section 45(c)(10).
''(C) Incremental hydropower.--The term
'incremental hydropower' means additional energy
generated as a result of efficiency improvements or
capacity additions to existing hydropower facilities
made on or after the date of enactment of this
subsection. The term 'incremental hydropower' does not
include additional energy generated as a result of
operational changes not directly associated with
efficiency improvements or capacity additions.''.
(c) Conservation and Efficiency.--Section 142 of such Code is
amended by adding at the end the following new subsection:
''(o) Conservation and Efficiency Facilities and Projects.--For
purposes of subsection (a)(17), the term 'conservation and efficiency
facility and project' means--
''(1) any facility used for the conservation or the
efficient use of energy, including energy efficient
retrofitting of existing buildings, or for the efficient
storage, transmission, or distribution of energy, including any
facility or project designed to implement smart grid
technologies (as described in title XIII of the Energy
Independence and Security Act of 2007, or individual components
of such technologies as listed in section 1301 of such Act),
''(2) any facility used for the conservation of or the
efficient use of water, including--
''(A) any facility or project designed to--
''(i) reduce the demand for water,
''(ii) improve efficiency in use and reduce
losses and waste of water, and
''(iii) improve land management practices
to conserve water, or
''(B) any individual component of a facility or
project referred to in subparagraph (A), or
''(3) any facility or project used for the manufacture of
facilities referred to in paragraphs (1) and (2).
For purposes of paragraph (2)(A), facilities and projects does not
include facilities or projects that store water.''.
(d) Zero Emission Vehicles and Related Facilities or Projects.--
Section 142 of such Code is amended by adding at the end the following
new subsection:
''(p) Zero Emission Vehicles and Related Facilities or Projects.--
''(1) Zero emission vehicles.--The term 'zero emission
vehicles' means vehicles that have no tailpipe emissions,
evaporative emissions, or onboard emission-control systems that
can deteriorate over time.
''(2) Facilities related to zero emission vehicles.--A
facility or project is related to a zero emission vehicle if
the facility is any real or personal property to be used in the
design, technology transfer, manufacture, production, assembly,
distribution, or service of zero emission vehicles.''.
(e) Coordination With Section 45.--Paragraph (3) of section 45(b)
of such Code is amended by adding at the end the following new
sentence: ''Clause (ii) of subparagraph (A) shall not apply with
respect to (I) any qualified facility that is a renewable energy
resource facility described in section 142(a)(16), (II) any qualified
facility that is a conservation and efficiency facility described in
section 142(a)(17), or (III) any qualified facility that is a zero
emission vehicle and related facility or project described in section
142(a)(18).''.
(f) Coordination With Section 45K.--Subparagraph (A) of section
45K(b)(3) of such Code is amended by adding at the end the following
flush sentence: ''Clause (i)(II) shall not apply with respect to (aa)
any qualified facility that is a renewable energy resource facility
described in section 142(a)(16), (bb) any qualified facility that is a
conservation and efficiency facility described section 142(a)(17), or
(cc) any qualified facility that is a zero emission vehicle and related
facility or project described in section 142(a)(18).''.
(g) Coordination With Section 146(g)(3).--Section 146(g)(3) is
amended by striking ''or (15)'' and all that follows through the end of
the paragraph and inserting ''(15), (16), (17), or (18)''.
(h) Effective Date.--The amendments made by this section shall
apply to obligations issued after the date of the enactment of this
Act.
answer:
Amends the Internal Revenue Code to allow a tax exemption of the interest on bonds issued to finance renewable energy resource facilities, conservation and efficiency facilities and projects, and zero emission vehicles and related facilities or projects.