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 ''Depository Institutions Disaster
Relief Act of 1993''.

SEC. 2. TRUTH IN LENDING ACT; EXPEDITED FUNDS AVAILABILITY ACT.

(a) Truth in Lending Act.--During the 180-day period beginning on
the date of enactment of this Act, the Board of Governors of the
Federal Reserve System may make exceptions to the Truth in Lending Act
for transactions within an area in which the President, pursuant to
section 401 of the Robert T. Stafford Disaster Relief and Emergency
Assistance Act, has determined that a major disaster exists, or within
an area determined to be eligible for disaster relief under other
Federal law by reason of damage related to the 1993 flooding of the
Mississippi River and its tributaries, if the Board determines that the
exception can reasonably be expected to alleviate hardships to the
public resulting from such disaster that outweigh possible adverse
effects.
(b) Expedited Funds Availability Act.--During the 180-day period
beginning on the date of enactment of this Act, the Board of Governors
of the Federal Reserve System may make exceptions to the Expedited
Funds Availability Act for depository institution offices located
within any area referred to in subsection (a) of this section if the
Board determines that the exception can reasonably be expected to
alleviate hardships to the public resulting from such disaster that
outweigh possible adverse effects.
(c) Time Limit on Exceptions.--Any exception made under this
section shall expire not later than the earlier of--
(1) 1 year after the date of enactment of this Act; or
(2) 1 year after the date of any determination referred to
in subsection (a).
(d) Publication Required.--The Board of Governors of the Federal
Reserve System shall publish in the Federal Register a statement that--
(1) describes any exception made under this section; and
(2) explains how the exception can reasonably be expected
to produce benefits to the public that outweigh possible
adverse effects.

SEC. 3. DEPOSIT OF INSURANCE PROCEEDS.

(a) In General.--The appropriate Federal banking agency may, by
order, permit an insured depository institution, during the 18-month
period beginning on the date of enactment of this Act, to subtract from
the institution's total assets, in calculating compliance with the
leverage limit prescribed under section 38 of the Federal Deposit
Insurance Act, an amount not exceeding the qualifying amount
attributable to insurance proceeds, if the agency determines that--
(1) the institution--
(A) had its principal place of business within an
area in which the President, pursuant to section 401 of
the Robert T. Stafford Disaster Relief and Emergency
Assistance Act, has determined that a major disaster
exists, or within an area determined to be eligible for
disaster relief under other Federal law by reason of
damage related to the 1993 flooding of the Mississippi
River and its tributaries, on the day before the date
of any such determination;
(B) derives more than 60 percent of its total
deposits from persons who normally reside within, or
whose principal place of business is normally within,
areas of intense devastation caused by the major
disaster;
(C) was adequately capitalized (as defined in
section 38 of the Federal Deposit Insurance Act) before
the major disaster; and
(D) has an acceptable plan for managing the
increase in its total assets and total deposits; and
(2) the subtraction is consistent with the purpose of
section 38 of the Federal Deposit Insurance Act.
(b) Definitions.--For purposes of this section:
(1) Appropriate federal banking agency.--The term
''appropriate Federal banking agency'' has the same meaning as
in section 3 of the Federal Deposit Insurance Act.
(2) Insured depository institution.--The term ''insured
depository institution'' has the same meaning as in section 3
of the Federal Deposit Insurance Act.
(3) Leverage limit.--The term ''leverage limit'' has the
same meaning as in section 38 of the Federal Deposit Insurance
Act.
(4) Qualifying amount attributable to insurance proceeds.--
The term ''qualifying amount attributable to insurance
proceeds'' means the amount (if any) by which the institution's
total assets exceed the institution's average total assets
during the calendar quarter ending before the date of any
determination referred to in subsection (a)(1)(A), because of
the deposit of insurance payments or governmental assistance
made with respect to damage caused by, or other costs resulting
from, the major disaster.

SEC. 4. BANKING AGENCY PUBLICATION REQUIREMENTS.

(a) In General.--During the 180-day period beginning on the date of
enactment of this Act, a qualifying regulatory agency may take any of
the following actions with respect to depository institutions or other
regulated entities whose principal place of business is within, or with
respect to transactions or activities within, an area in which the
President, pursuant to section 401 of the Robert T. Stafford Disaster
Relief and Emergency Assistance Act, has determined that a major
disaster exists, or within an area determined to be eligible for
disaster relief under other Federal law by reason of damage related to
the 1993 flooding of the Mississippi River and its tributaries, if the
agency determines that the action would facilitate recovery from the
major disaster:
(1) Procedure.--Exercising the agency's authority under
provisions of law other than this section without complying
with--
(A) any requirement of section 553 of title 5,
United States Code; or
(B) any provision of law that requires notice or
opportunity for hearing or sets maximum or minimum time
limits with respect to agency action.
(2) Publication requirements.--Making exceptions, with
respect to institutions or other entities for which the agency
is the primary Federal regulator, to--
(A) any publication requirement with respect to
establishing branches or other deposit-taking
facilities; or
(B) any similar publication requirement.
(b) Publication Required.--A qualifying regulatory agency shall
publish in the Federal Register a statement that--
(1) describes any action taken under this section; and
(2) explains the need for the action.
(c) Qualifying Regulatory Agency Defined.--For purposes of this
section, the term ''qualifying regulatory agency'' means--
(1) the Board of Governors of the Federal Reserve System;
(2) the Comptroller of the Currency;
(3) the Director of the Office of Thrift Supervision;
(4) the Federal Deposit Insurance Corporation;
(5) the Financial Institutions Examination Council;
(6) the National Credit Union Administration; and
(7) with respect to chapter 53 of title 31, United States
Code, the Secretary of the Treasury.

SEC. 5. STUDY; REPORT TO THE CONGRESS.

(a) Study.--The Comptroller General of the United States shall
conduct a study that--
(1) examines how the agencies and entities granted
authority by the Depository Institutions Disaster Relief Act of
1992 and by this Act have exercised such authority;
(2) evaluates the utility of such Acts in facilitating
recovery from disasters consistent with the safety and
soundness of depository institutions; and
(3) contains recommendations with respect to whether the
authority granted by this Act should be made permanent.
(b) Report to the Congress.--Not later than 18 months after the
date of the enactment of this Act, the Comptroller General of the
United States shall submit to the Congress a report on the results of
the study required by subsection (a).

SEC. 6. SENSE OF THE CONGRESS.

It is the sense of the Congress that the Board of Governors of the
Federal Reserve System, the Comptroller of the Currency, the Director
of the Office of Thrift Supervision, the Federal Deposit Insurance
Corporation, and the National Credit Union Administration should
encourage depository institutions meet the financial services needs of
their communities and customers located in areas affected by the 1993
flooding of the Mississippi River and its tributaries.

SEC. 7. OTHER AUTHORITY NOT AFFECTED.

Nothing in this Act limits the authority of any department or
agency under any other provision of law.

Passed the House of Representatives August 2, 1993.

Attest:

Clerk.
answer:
Depository Institutions Disaster Relief Act of 1993 - Authorizes the Board of Governors of the Federal Reserve System to make exceptions for a specified period of time to the Truth in Lending Act and to the Expedited Funds Availability Act with respect to transactions and depository institutions located within either a federally declared major disaster area or certain areas damaged by the 1993 flooding of the Mississippi River and its tributaries (disaster areas).
Cites conditions under which: (1) an insured depository institution may subtract from its total assets a specified amount attributable to insurance proceeds when it is calculating compliance with prescribed leverage limits; and (2) a qualifying regulatory agency may deviate from certain statutory requirements with respect to regulated entities located in disaster areas.
Directs the Comptroller General to study and report to the Congress on the efficacy of certain disaster relief Acts with respect to facilitating recovery from major disasters.
Expresses the sense of the Congress that specified Federal banking regulatory agencies should encourage depository institutions to meet the financial services needs of their communities and customers located in areas affected by the 1993 flooding of the Mississippi River and its tributaries.

question:
SECTION 1. SHORT TITLE.

This Act may be cited as the ''Depository Institution Community
Development Investments Enhancement Act''.

SEC. 2. TECHNICAL CORRECTIONS.

(a) National Banks.--The first sentence of the paragraph designated
as the ''Eleventh'' of section 5136 of the Revised Statutes of the
United States (12 U.S.C. 24) (as amended by section 305(a) of the
Financial Services Regulatory Relief Act of 2006) is amended by
striking ''promotes the public welfare by benefitting primarily'' and
inserting ''is designed primarily to promote the public welfare,
including the welfare of''.
(b) State Member Banks.--The first sentence of the 23rd paragraph
of section 9 of the Federal Reserve Act (12 U.S.C. 338a) is amended by
striking ''promotes the public welfare by benefiting primarily'' and
inserting ''is designed primarily to promote the public welfare,
including the welfare of''.

SEC. 3. INVESTMENTS BY FEDERAL SAVINGS ASSOCIATIONS AUTHORIZED TO
PROMOTE THE PUBLIC WELFARE.

Section 5(c) of the Home Owners' Loan Act (12 U.S.C. 1464) is
amended--
(1) in paragraph (3)--
(A) by striking subparagraph (A); and
(B) by redesignating subparagraphs (B) and (C), as
subparagraphs (A) and (B), respectively; and
(2) in paragraph (4), by adding at the end the following
new subparagraph:
''(G) Direct investments to promote the public
welfare.--
''(i) In general.--A Federal savings
association may make investments, directly or
indirectly, each of which is designed primarily
to promote the public welfare, including the
welfare of low- and moderate-income communities
or families through the provision of housing,
services, and jobs.
''(ii) Direct investments or acquisition of
interest in other companies.--Investments under
clause (i) may be made directly or by
purchasing interests in an entity primarily
engaged in making such investments.
''(iii) Prohibition on unlimited
liability.--No investment may be made under
this subparagraph which would subject a Federal
savings association to unlimited liability to
any person.
''(iv) Single investment limitation to be
established by director.--Subject to clauses
(v) and (vi), the Director shall establish, by
order or regulation, limits on--
''(I) the amount that any savings
association may invest in any 1
project; and
''(II) the aggregate amount of
investment of any savings association
under this subparagraph.
''(v) Flexible aggregate investment
limitation.--The aggregate amount of
investments of any savings association under
this subparagraph may not exceed an amount
equal to the sum of 5 percent of the capital
stock of the savings association actually paid
in and unimpaired and 5 percent of the
unimpaired surplus of the savings association,
unless--
''(I) the Director determines that
the savings association is adequately
capitalized; and
''(II) the Director determines, by
order, that the aggregate amount of
investments in a higher amount than the
limit under this clause would pose no
significant risk to the affected
Deposit Insurance Fund.
''(vi) Maximum aggregate investment
limitation.--Notwithstanding clause (v), the
aggregate amount of investments of any savings
association under this subparagraph may not
exceed an amount equal to the sum of 15 percent
of the capital stock of the savings association
actually paid in and unimpaired and 15 percent
of the unimpaired surplus of the savings
association.
''(vii) Investments not subject to other
limitation on quality of investments.--No
obligation that a Federal savings association
acquires or retains under this subparagraph
shall be taken into account for purposes of the
limitation contained in section 28(d) of the
Federal Deposit Insurance Act on the
acquisition and retention of any corporate debt
security not of investment grade.
''(viii) Applicability of standards to each
investment.--The standards and limitations of
this subparagraph shall apply to each
investment under this subparagraph made by a
savings association directly and by its
subsidiaries.''.
answer:
Depository Institution Community Development Investments Enhancement Act - Amends the Home Owners' Loan Act to revise requirements for community development investments by federal savings associations.

Authorizes a federal savings association to make investments, directly or indirectly, each of which is designed primarily to promote the public welfare, including the welfare of low- and moderate-income communities or families through the provision of housing, services, and jobs (community development investments).

Permits such investments to be made directly or by purchase of interests in an entity primarily engaged in making such investments.

Prohibits a federal savings association from making an investment which would subject it to unlimited liability to any person.

Requires the Director of the Office of Thrift Supervision to establish: (1) the amount any savings association may invest in any one project; and (2) the aggregate amount of investment of any savings association.

Restricts the aggregate amount of investment of any savings association, subject to specified determinations made by the Director.

Prohibits the maximum aggregate amount of investments of any savings association from exceeding the same 15% of its capital stock actually paid in and unimpaired and 15% of its unimpaired surplus as imposed by this Act on national banking associations and state member banks.

question:
SECTION 1. SHORT TITLE.

This Act may be cited as the ''Block Grant Performance Standards
Act of 1995''.

SEC. 2. ADMINISTRATION OF BLOCK GRANTS.

Chapter 73 of title 31, United States Code, is amended by adding at
the end thereof the following new subchapter:

''SUBCHAPTER II--CONDITIONS APPLICABLE TO BLOCK GRANTS

''Sec. 7321. Purposes
''The purposes of this subchapter are to--
''(1) enable more efficient use of Federal, State, and
local resources;
''(2) establish accountability for achieving the purposes
of block grant programs; and
''(3) establish effective partnerships to address critical
issues of public interest.
''Sec. 7322. Definitions
''For purposes of this subchapter, the term--
''(1) 'block grant program' means a program in which
Federal funds are directly allocated to States, localities, or
other recipients for use at the discretion of such States,
localities, or recipients in meeting stated Federal purposes;
and
''(2) 'plan' means a block grant strategic plan described
under section 7324.
''Sec. 7323. Requirement of approved block grant strategic plans
''No payment may be paid under any block grant program to any
eligible entity unless such entity has submitted and received approval
for a plan.
''Sec. 7324. Block grant strategic plans
''The head of an agency administering a block grant program shall
designate the criteria that shall be included in a block grant
strategic plan. At a minimum, each plan shall contain--
''(1) a description of goals and objectives, including
outcome related goals and objectives for each of the designated
program activities for each of the first 6 fiscal years of the
plan;
''(2) a description of how the goals and objectives are to
be achieved, including a description of the operational
processes, skills and technology, and the human, capital,
information and other objectives required to meet the goals and
objectives for the current fiscal year;
''(3) a description of performance indicators to be used in
measuring or assessing the relevant output service levels and
outcomes of each of the mandatory program activities; and
''(4) a description of the program evaluation to be used in
comparing actual results with established goals and objectives,
and the designation of results as highly successful or failing
to meet the goals and objectives of the program.
''Sec. 7325. Review and approval of block grant strategic plans
''After receipt of a plan, the head of an agency shall--
''(1) no later than 90 days after the receipt of the
application, approve or disapprove all or part of the plan;
''(2) no later than 15 days after the date of such approval
or disapproval, notify the applicant in writing of the approval
or disapproval; and
''(3) in the case of any disapproval of a plan, include a
written justification of the reasons for disapproval in the
written notice of disapproval.
''Sec. 7326. Community advisory committees
''(a) An entity applying for a block grant shall establish a
community advisory committee in accordance with this section.
''(b) A community advisory committee shall advise an applicant in
the development and implementation of a plan, including advice with
respect to--
''(1) conducting public hearings; and
''(2) receiving comment and reviews from communities
affected by the plan.
''(c) Membership of the community advisory committee shall
include--
''(1) persons with leadership experience in private
business and voluntary organizations;
''(2) elected officials representing jurisdictions included
in the plan;
''(3) representatives of participating qualified
organizations;
''(4) the general public; and
''(5) individuals and representatives of community
organizations who shall help to enhance the leadership role of
the local government in developing a plan.
''(d) Before submitting an application for approval, or any reports
required as a condition of receiving any payment under a block grant
program, the applicant shall submit such application or report to the
community advisory committee for review and comment. Any comments of
the committee shall be submitted with the application or report to the
head of an agency.
''Sec. 7327. Technical and other assistance
''The head of an agency administering a block grant program may
provide technical assistance to applicants for block grants in
developing information necessary for the design or implementation of a
plan.
''Sec. 7328. Conditional termination or alteration of block grant
strategic plan
''(a) The head of an agency administering a block grant program
shall establish procedures by regulation for implementing penalties of
not less than 5 percent of the grant a recipient would otherwise
receive for failing to meet the goals and objectives included in the
plan for a block grant.
''(b) The head of an agency shall establish procedures by
regulation for--
''(1) suspending the grant a recipient would otherwise
receive for a period of 3 years for failure for 2 consecutive
years to meet the goals and objectives included in the plan for
a block grant; and
''(2) reallocating the amount of the grant a recipient
would otherwise receive to other governmental or nonprofit
institutions within the plan.
''Sec. 7329. Administration with other conditions of block grant
programs
''The provisions of this subchapter (including all conditions and
requirements) shall supersede any other provision of law relating to
the administration of any block grant program only to the extent of any
inconsistency with such other provision.''.

SEC. 3. TECHNICAL AND CONFORMING AMENDMENTS.

(a) Table of Sections.--Chapter 73 of title 31, United States Code,
is amended by striking out the chapter heading and the table of
sections and inserting in lieu thereof the following:

''CHAPTER 73--ADMINISTERING BLOCK GRANTS

''SUBCHAPTER I--BLOCK GRANT AMOUNTS

''Sec.
''7301. Purpose.
''7302. Definitions.
''7303. Reports and public hearings on proposed uses of amounts.
''7304. Availability of records.
''7305. State auditing requirements.
''SUBCHAPTER II--CONDITIONS APPLICABLE TO BLOCK GRANTS

''7321. Purposes.
''7322. Definitions.
''7323. Requirement of approved block grant strategic plans.
''7324. Block grant strategic plans.
''7325. Review and approval of block grant strategic plans.
''7326. Community advisory committees.
''7327. Technical and other assistance.
''7328. Conditional termination or alteration of block grant strategic
plan.
''7329. Administration with other conditions of block grant programs.

''SUBCHAPTER I--BLOCK GRANT AMOUNTS''.

(b) Chapter References.--Chapter 73 of title 31, United States
Code, is amended--
(1) in section 7301 in the matter preceding paragraph (1)
by striking out ''chapter'' and inserting in lieu thereof
''subchapter''; and
(2) in section 7302 in the matter preceding paragraph (1)
by striking out ''chapter'' and inserting in lieu thereof
''subchapter''.

SEC. 4. EFFECTIVE DATE.

This Act shall take effect on October 1, 1997, and shall apply to
payments under block grant programs on and after such date.
answer:
Block Grant Performance Standards Act of 1995 - Amends Federal law to establish performance criteria to be included in a block grant strategic plan. Requires an entity applying for a block grant to establish a community advisory committee to advise the entity in the development and implementation of a plan.