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

Example input: SECTION 1. LIABILITY OF BUSINESS ENTITIES PROVIDING USE OF FACILITIES
TO NONPROFIT ORGANIZATIONS.

(a) Definitions.--In this section:
(1) Business entity.--The term ''business entity'' means a
firm, corporation, association, partnership, consortium, joint
venture, or other form of enterprise.
(2) Facility.--The term ''facility'' means any real
property, including any building, improvement, or appurtenance.
(3) Gross negligence.--The term ''gross negligence'' means
voluntary and conscious conduct by a person with knowledge (at
the time of the conduct) that the conduct is likely to be
harmful to the health or well-being of another person.
(4) Intentional misconduct.--The term ''intentional
misconduct'' means conduct by a person with knowledge (at the
time of the conduct) that the conduct is harmful to the health
or well-being of another person.
(5) Nonprofit organization.--The term ''nonprofit
organization'' means--
(A) any organization described in section 501(c)(3)
of the Internal Revenue Code of 1986 and exempt from
tax under section 501(a) of such Code; or
(B) any not-for-profit organization organized and
conducted for public benefit and operated primarily for
charitable, civic, educational, religious, welfare, or
health purposes.
(6) State.--The term ''State'' means each of the several
States, the District of Columbia, the Commonwealth of Puerto
Rico, the Virgin Islands, Guam, American Samoa, the Northern
Mariana Islands, any other territory or possession of the
United States, or any political subdivision of any such State,
territory, or possession.
(b) Limitation on Liability.--
(1) In general.--Subject to subsection (c), a business
entity shall not be subject to civil liability relating to any
injury or death occurring at a facility of the business entity
in connection with a use of such facility by a nonprofit
organization if--
(A) the use occurs outside of the scope of business
of the business entity;
(B) such injury or death occurs during a period
that such facility is used by the nonprofit
organization; and
(C) the business entity authorized the use of such
facility by the nonprofit organization.
(2) Application.--This subsection shall apply--
(A) with respect to civil liability under Federal
and State law; and
(B) regardless of whether a nonprofit organization
pays for the use of a facility.
(c) Exception for Liability.--Subsection (b) shall not apply to an
injury or death that results from an act or omission of a business
entity that constitutes gross negligence or intentional misconduct,
including any misconduct that--
(1) constitutes a crime of violence (as that term is
defined in section 16 of title 18, United States Code) or act
of international terrorism (as that term is defined in section
2331 of title 18) for which the defendant has been convicted in
any court;
(2) constitutes a hate crime (as that term is used in the
Hate Crime Statistics Act (28 U.S.C. 534 note));
(3) involves a sexual offense, as defined by applicable
State law, for which the defendant has been convicted in any
court; or
(4) involves misconduct for which the defendant has been
found to have violated a Federal or State civil rights law.
(d) Superseding Provision.--
(1) In general.--Subject to paragraph (2) and subsection
(e), this Act preempts the laws of any State to the extent that
such laws are inconsistent with this Act, except that this Act
shall not preempt any State law that provides additional
protection from liability for a business entity for an injury
or death with respect to which conditions under subparagraphs
(A) through (C) of subsection (b)(1) apply.
(2) Limitation.--Nothing in this Act shall be construed to
supersede any Federal or State health or safety law.
(e) Election of State Regarding Nonapplicability.--This Act shall
not apply to any civil action in a State court against a business
entity in which all parties are citizens of the State if such State
enacts a statute--
(1) citing the authority of this subsection;
(2) declaring the election of such State that this Act
shall not apply to such civil action in the State; and
(3) containing no other provision.
Example output: Shields a business entity from civil liability relating to any injury or death occurring at a facility of that entity in connection with a use of such facility by a nonprofit organization if: (1) the use occurs outside the scope of business of the business entity; (2) such injury or death occurs during a period that such facility is used by such organization; and (3) the business entity authorized the use of such facility by the organization.
Makes this Act inapplicable to an injury or death that results from an act or omission of a business entity that constitutes gross negligence or intentional misconduct, including misconduct that: (1) constitutes a hate crime or a crime of violence or act of international terrorism for which the defendant has been convicted in any court; or (2) involves a sexual offense for which the defendant has been convicted in any court or misconduct for which the defendant has been found to have violated a Federal or State civil rights law.
Preempts State laws to the extent that such laws are inconsistent with this Act, except State law that provides additional protection from liability. Specifies that this Act shall not be construed to supersede any Federal or State health or safety law.
Makes this Act inapplicable to any civil action in a State court against a business entity in which all parties are citizens of the State if such State, citing this Act's authority and containing no other provision, enacts a statute declaring the State's election that this Act shall not apply to such action in the State.
Example explanation: This Bill focuses on shielding business entities from civil liability relating to an injury or death depending on the conditions of injury, hence the generated summary is correct.
Q: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Student Success Act of 1999''.

TITLE I--AUTHORIZATION OF HUMAN CAPITAL INVESTMENT CONTRACTS

SEC. 101. PURPOSE; LAWFULNESS OF INSTRUMENTS; PREEMPTION OF STATE LAW.

(a) Purpose.--It is the purpose of this title to authorize
individuals to enter into contracts for the purposes of obtaining funds
for the payment of tuition and other related expenses of postsecondary
education by agreeing to pay to the holder of the contract a specified
percentage of the individual's future earned income.
(b) Lawfulness of Contracts; Preemption.--Any human capital
investment contract that complies with the requirements of section 102
shall be a valid, binding, and enforceable contract notwithstanding any
State law limiting or otherwise regulating assignments of future wages
or other income.

SEC. 102. TERMS AND CONDITIONS OF HUMAN CAPITAL INVESTMENT CONTRACTS.

(a) Definition of Human Capital Investment Contract.--For purposes
of this title, the term ''human capital investment contract'' means an
agreement between an eligible student and any other person under which
the eligible student sells and assigns specified percentages of the
eligible student's future income, for a specified period of time, in
exchange for payments to or on behalf of such student for--
(1) the tuition and related expenses of attendance by the
student at an eligible institution, and
(2) any income taxes owed by the student as a consequence
of the receipt of such payments.
(b) Terms and Conditions of Agreements.--A human capital investment
contract complies with the requirements of this section if the contract
complies with each of the following conditions:
(1) Specified percentage of earned income.--A human capital
investment contract shall specify the percentages of future
earned income which the student will be obligated to pay,
except that the contract--
(A) shall specify the maximum amount of earned
income for each year to which such specified percentage
shall apply;
(B) shall provide a schedule of reductions in such
percentage if the student's earned income from full-
time employment is less than amounts specified in the
contract; and
(C) may specify a schedule of increases in such
percentage if the student obtains a deferral under
paragraph (6), subject to the limitation in paragraph
(2).
(2) Aggregate limitation on obligation.--No eligible
student may enter into any human capital investment contract if
the total percentage of such student's future earned income
that the student agrees to pay under that contract, and any
other human capital investment contracts of such student,
exceeds 20 percent of such future earned income.
(3) Specified duration; extension of period for
deferrals.--A human capital investment contract shall specify
the maximum period of time during which the student will be
obligated to pay a portion of the student's future earned
income from full-time employment, except that--
(A) except as provided in subparagraph (B), such
period may not exceed 180 months; and
(B) such contract may provide that such period may
be extended by the number of months during which the
student obtains a deferral of payments under paragraph
(5) or (6).
(4) Commencement of repayment.--A human capital investment
contract shall provide that the student is not obligated to
commence payments, and that the deferral period in paragraph
(5) does not begin to toll, until the student--
(A) ceases to carry at an eligible institution at
least the minimum academic workload set forth in the
contract; or
(B) ceases to be eligible to meet the deferral
requirements set forth in paragraph (6).
(5) Deferral for under-employment or unemployment.--A human
capital investment contract shall provide that the student may
obtain a deferral of the obligation to make payments under the
contract during any period in which the student is unemployed,
except that the contract may provide that, if the student is
unemployed for longer than a maximum period specified in the
contract, the student agrees to extinguish obligations under
the contract by payment of--
(A) the amounts determined in accordance with
paragraph (7), and
(B) any related administrative costs of collecting
such amounts, including attorney's fees.
(6) Deferral during periods of graduate study.--A human
capital investment contract shall provide that a student who is
enrolled or accepted for enrollment in a postgraduate degree
program is not obligated to commence payments under the contract until
the student ceases to carry a full-time academic workload leading to
such a degree at an eligible institution, except that the contract may
provide that the maximum period for which payments may be deferred
pursuant to this paragraph shall not exceed 48 months.
(7) Accelerated repayment.--A human capital investment
contract shall specify the terms and conditions by which the
student may extinguish the student's obligations under the
contract before the end of the payment period specified in the
human capital investment contract, based on the remaining term
of such period.
(c) Required Disclosures.--A human capital investment contract does
not comply with the requirements of this section unless the eligible
student is provided, before entry into agreement, a disclosure document
that clearly and simply discloses that--
(1) the agreement is not a debt instrument, and that the
amount the student will be required to pay under the
agreement--
(A) may be more or less than the amount provided to
the student; and
(B) will vary in proportion to the student's future
earned income;
(2) the obligations of the student under the agreement are
not dischargeable under bankruptcy law;
(3) the obligations of the student under the agreement may
be extinguished by accelerating payments, as specified in the
agreement; and
(4) the duration of the student's obligations under the
agreement (absent such accelerating payments).

SEC. 103. DEFINITIONS.

As used in this title--
(1) Earned income.--
(A) The term ''earned income'' means compensation
and self-employment income.
(B) The term ''compensation'' means the gross
amount of salaries, wages, and other remunerations
earned by the student as an employee, not taking into
account any deferred compensation arrangements or any
payments to any retirement, pension, or other benefit
plan.
(C) The term ''self-employment income'' means the
net earnings from self-employment, as defined in
section 1402 of the Internal Revenue Code of 1986, and
regulations prescribed thereunder.
(2) Eligible student.--The term ''eligible student'' means
any person--
(A) who is a citizen or national of the United
States, a permanent resident of the United States, able
to provide evidence from the Immigration and
Naturalization Service that he or she is in the United
States for other than a temporary purpose with the
intention of becoming a citizen or permanent resident,
or permanent resident of the Trust Territory of the
Pacific Islands, Guam, the Northern Mariana Islands;
(B) who is enrolled or accepted for enrollment in a
degree, certificate, or other program (including a
program of study abroad approved for credit by the
eligible institution at which such student is enrolled)
leading to a recognized educational credential at an
eligible institution of higher education; and
(C) who is not enrolled in an elementary or
secondary school.
(3) Eligible institution.--The term ''eligible
institution'' means an institution of higher education as such
term is defined in section 481(a) of the Higher Education Act
of 1965 (20 U.S.C. 1088(a)).
(4) Full-time employment; period of no employment.--
Determinations of full-time employment in a given calendar year
shall be based on an average employment of 35 hours (or more)
per week during such year (a total of 1,820 hours or more for
the year). Determinations of period of no employment of a
student shall be determined separately for each calendar year
and expressed as a whole number of weeks and shall be based on
the excess, if any, of 1,820 over the total number of hours of
employment of the student during the year, divided by 35, and
rounded down to the nearest whole number.
(5) State law.--
(A) The term ''State law'' means any law, decision,
rule, regulation, or other action having the effect of
a law of any State or any political subdivision of a
State, or any agency or instrumentality of a State or
political subdivision of a State, except that a law of
the United States applicable only to the District of
Columbia shall be treated as a State law (rather than a
law of the United States).
(B) The term ''State'' includes, in addition to the
several States of the Union, the Commonwealth of Puerto
Rico, the District of Columbia, Guam, American Samoa,
the Virgin Islands, the government of the Northern
Mariana Islands, and the Trust Territory of the Pacific
Islands.

TITLE II--TAX TREATMENT OF HUMAN CAPITAL INVESTMENT CONTRACTS

SEC. 201. TAX TREATMENT OF HUMAN CAPITAL INVESTMENT CONTRACTS.

(a) In General.--Section 7701 of the Internal Revenue Code of 1986
is amended by redesignating subsection (m) as subsection (n) and by
inserting after subsection (l) the following new subsection:
''(m) Human Capital Investment Contracts.--A human capital
investment contract (as defined in section 102 of the Student Success
Act of 1999) shall not be treated as a debt instrument for purposes of
this title, and amounts received by the student for entering into such
a contract shall be includible in such student's gross income for
purposes of subtitle A.''
(b) Depreciation.--Section 167 of the Internal Revenue Code of 1986
(relating to depreciation) is amended by redesignating subsection (h)
as subsection (i) and by inserting after subsection (g) the following
new subsection:
''(h) Human Capital Investment Contracts.--If a depreciation
deduction is allowable under subsection (a) with respect to any human
capital investment contract (as defined in section 102 of the Student
Success Act of 1999), such deduction--
''(1) shall be allowable beginning with the taxable year
during which the student is first obligated to begin payments
under the contract, and
''(2) shall be computed by using the straight-line method
and a useful life equal to the shorter of--
''(A) 15 years, or
''(B) the maximum period the student is obligated
to make payments under the contract (determined without
regard to any extension of such period by reason of a
deferral).''
(c) Deduction for Payments.--
(1) In general.--Part VII of subchapter B of chapter 1 of
such Code is amended by redesignating section 221 as section
222 and by inserting after section 220 the following new
section:

''SEC. 221. PAYMENTS UNDER HUMAN CAPITAL INVESTMENT CONTRACTS.

''In the case of an individual who is obligated to make payments
under a human capital investment contract (as defined in section 102 of
the Student Success Act of 1999), there shall be allowed as a deduction
the amount of such payments made during the taxable year.''
(2) Deduction allowable in determining adjusted gross
income.--Subsection (a) of section 62 of such Code is amended
by inserting after paragraph (16) the following new paragraph:
''(17) Human capital investment contract payments.--The
deduction allowed by section 221.''
(3) Clerical amendment.--The table of sections for part VII
of subchapter B of chapter 1 of such Code is amended by
striking the last item and inserting the following new items:

''Sec. 221. Payments under human capital
investment contracts.
''Sec. 222. Cross reference.''
(d) Qualifying Income of Publicly Traded Partnerships.--Paragraph
(1) of section 7704(d) of such Code is amended by striking ''and'' at
the end of subparagraph (F), by striking the period at the end of
subparagraph (G) and inserting '', and'', and by inserting after
subparagraph (G) the following new subparagraph:
''(H) income derived from, or gain from the sale or
other disposition of any human capital investment
contract (as defined in section 102 of the Student
Success Act of 1999).''
(e) Effective Date.--The amendments made by this section shall
apply to taxable years ending after the date of the enactment of this
Act.

TITLE III--SECURITIES LAW TREATMENT OF HUMAN CAPITAL INVESTMENT
CONTRACTS

SEC. 301. POOLING OF HUMAN CAPITAL INVESTMENT CONTRACTS INTO INVESTMENT
COMPANIES.

Section 2(a)(36) of the Investment Company Act of 1940 (15 U.S.C.
80a-2) is amended by inserting ''human capital investment contracts (as
such term is defined in section 102 of the Student Success Act of
1999),'' after ''relating to foreign currency,''.

TITLE IV--BANKRUPTCY LAW TREATMENT OF HUMAN CAPITAL INVESTMENT
CONTRACTS

SEC. 401. EXCEPTION TO DISCHARGE.

Section 523(a) of title 11, United States Code, is amended--
(1) in paragraph (17) by striking ''and'' at the end,
(2) in paragraph (18) by striking the period at the end and
inserting ''; and'', and
(3) by adding at the end the following:
''(19) for a payment owed by the debtor as a result of a
payment made to or for the benefit of the debtor, under a human
capital investment contract (as defined in section 102 of the
Student Success Act of 1999 unless--
''(A) such payment owed by the debtor first became
due more than 7 years (exclusive of any applicable
suspension of the debtor's payment period) before the
date of the filing of the petition; or
''(B) excepting such debt from discharge under this
paragraph will impose an undue hardship on the debtor
and the debtor's dependents.''.

TITLE V--FEDERAL STUDENT ASSISTANCE TREATMENT OF HUMAN CAPITAL
INVESTMENT CONTRACTS

SEC. 501. AMOUNTS RECEIVED NOT TREATED AS INCOME IN CALCULATION OF
FINANCIAL NEED.

Section 480(a) of the Higher Education Act of 1965 (20 U.S.C.
1087vv(a)) is amended--
(1) in paragraph (1), by striking ''paragraph (2)'' and
inserting ''paragraphs (2) and (3)''; and
(2) by adding at the end the following new paragraph:
''(3) No portion of any amounts received by a student for entering
into a human capital investment contract (as defined in section 102 of
the Student Success Act of 1997) shall be included as income or assets
in the computation of expected family contribution for any program
funded in whole or in part under this Act.''.
A:
TABLE OF CONTENTS:
Title I: Authorization of Human Capital Investment Contracts
Title II: Tax Treatment of Human Capital Investment
Contracts
Title III: Securities Law Treatment of Human Capital
Investment Contracts
Title IV: Bankruptcy Law Treatment of Human Capital
Investment Contracts
Title V: Federal Student Assistance Treatment of Human
Capital Investment Contracts
Student Success Act of 1999 -
Title I: Authorization of Human Capital Investment Contracts
- Authorizes individuals to enter into human capital investment contracts (HCICs) for the purposes of obtaining funds for the payment of tuition and other related expenses of postsecondary education by agreeing to pay to the holder of the contract a specified percentage of the individual's future earned income.
(Sec. 101) Makes any HCIC that complies with required terms and conditions under this Act a valid, binding, and enforceable contract notwithstanding any State law limiting or otherwise regulating assignments of future wages or other income.
(Sec. 102) Sets forth terms and conditions of HCICs, including requirements relating to: (1) specification of the percentages of future earned income which the student will be obligated to pay and of the maximum amount of earned income for each year to which such specified percentage shall apply; (2) a schedule of reductions in such percentage if the student's earned income from full-time employment is less than amounts specified in the contract (and an allowable schedule of limited increases in such percentage if the student obtains a deferral); (3) prohibitions against a student's entering into HCICs where payments exceed 20 percent of future earned income; (4) specification of the maximum period of time during which the student will be obligated to pay a portion of the student's future earned income from full-time employment, up to 180 months, with extensions by the number of deferred months; (5) no obligation to commence payments while carrying at least a minimum academic workload or while eligible for deferrals; (6) deferrals during periods of unemployment (as well as allowing certain payments to extinguish obligation after a maximum period of unemployment); (7) deferrals for up to 48 months of graduate education; (8) accelerated repayment; and (9) required disclosures.
Title II: Tax Treatment of Human Capital Investment Contracts
- Amends the Internal Revenue Code to provide that: (1) an HCIC shall not be treated as a debt instrument for specified purposes; and (2) amounts received by the student for entering into an HCIC shall be includible in such student's gross income for certain tax purposes.
(Sec. 201) Sets forth conditions for allowable depreciation deductions with respect to HCICs.
Allows a tax deduction, in determining adjusted gross income, for an individual's obligated payments under an HCIC.
Deems income derived from, or gain from the sale or other disposition of, an HCIC as qualifying income which would exempt a publicly traded partnership from treatment as a corporation.
Title III: Securities Law Treatment of Human Capital Investment Contracts
- Amends the Investment Company Act of 1940 to provide for pooling of HCICs into investment companies.
Title IV: Bankruptcy Law Treatment of Human Capital Investment Contracts
- Amends Federal bankruptcy law to except from discharge in bankruptcy any payment owed by the debtor as a result of a payment made to or for the benefit of the debtor under an HCIC, unless: (1) such payment owed by the debtor first became due more than seven years (exclusive of any applicable suspension of the debtor's payment period) before the date of the filing of the petition for bankruptcy; or (2) excepting such debt from discharge will impose an undue hardship on the debtor and the debtor's dependents.
Title V: Federal Student Assistance Treatment of Human Capital Investment Contracts
- Amends the Higher Education Act of 1965 (HEA) to provide that no portion of any amounts received by a student for entering into an HCIC shall be included as income or assets in the computation of expected family contribution for any program funded in whole or in part under HEA.