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 the ''Student Loan Auction Market Act''.

SEC. 2. MARKET-BASED DETERMINATION OF LENDER RETURNS.

(a) Joint Planning Study To Select Auction Mechanisms for
Testing.--
(1) Planning study.--The Secretaries of Education and
Treasury jointly shall conduct a planning study, in
consultation with the Office of Management and Budget, the
Congressional Budget Office, the Government Accountability
Office, and other individuals and entities the Secretaries
determine appropriate, to--
(A) examine the matters described in paragraph (2)
in order to determine which market-based mechanisms for
determining lender returns on loans made, insured, or
guaranteed under part B of title IV of the Higher
Education Act of 1965 (20 U.S.C. 1071 et seq.) shall be
tested under the pilot programs described in subsection
(c); and
(B) determine what related administrative and other
changes will be required in order to ensure that high-
quality services are provided under a successful
implementation of market-based determinations of lender
returns for all loans made, insured, or guaranteed
under such part.
(2) Matters examined.--The planning study under this
subsection shall examine--
(A) whether it is most appropriate to auction
existing loans under part B of title IV, to auction the
rights to originate loans under such part, or whether
the sale of securities backed by federally owned
student loan assets originated by banks acting as
agents of the Federal Government would provide the most
efficient market-based alternative;
(B) matters related to efficient financial
organization of any auctions or sales, including how
loans and origination rights are bundled, the capital
structure of any securitization plan, and issues
related to servicing; and
(C) how to ensure that statutory, regulatory, and
administrative requirements do not impede separate
management and ownership of loans or assets backed by
loans under part B of title IV.
(3) Mechanisms.--In determining which market-based
mechanisms are the most promising models to test the pilot
programs under subsection (b), the planning study shall take
into account whether a particular market-based mechanism will--
(A) ensure loan availability under part B of title
IV to all eligible students at all participating
institutions;
(B) minimize administrative complexity for
borrowers, institutions, lenders, and the Federal
Government; and
(C) reduce Federal costs if used on a program-wide
basis.
(4) Report.--A report on the results of the planning study,
together with a plan for implementation of one or more pilot
programs using promising market-based approaches for
determining lender returns, shall be transmitted to Congress
not later than 6 months following the date of enactment of this
Act.
(5) Exclusion.--In conducting the planning study, and
proposing pilot programs for testing under this section, the
Secretaries of Education and the Treasury shall exclude from
consideration the Federal PLUS loans described in section 428B
that are the subject of the competitive loan auction pilot
program under section 499 of the Higher Education Act of 1965
(as added by section 701 of the College Cost Reduction and
Access Act).
(b) Pilot Programs To Be Tested.--
(1) Authorization.--
(A) In general.--Notwithstanding any other
provision of law, after the report described in
subsection (a)(4) is transmitted to Congress, the
Secretary of Education shall, in consultation with the
Secretary of the Treasury, begin preparations necessary
to carry out pilot programs meeting the requirements of
this subsection in accordance with the implementation
plan included in the report.
(B) Implementation date.--The Secretary of
Education shall commence implementation of the pilot
programs under this subsection not earlier than July 1,
2009.
(C) Duration and loan volume.--The pilot programs
under this subsection shall be not more than two
academic years in duration, and the Secretary of
Education may use the pilot programs to determine the
lender returns for not more than--
(i) 10 percent of the annual loan volume
under this part B of title IV during the first
year of the pilot programs under this
subsection; and
(ii) 20 percent of the annual loan volume
under this part B of title IV during the second
year of the pilot programs under this
subsection.
(2) Voluntary participation.--
(A) Participation in any auction-based pilot
program under this subsection shall be voluntary for
eligible institutions and eligible lenders
participating under part B of title IV prior to July 1,
2006.
(B) All savings to the United States Treasury
generated by such auctions shall be distributed to
institutions participating under this section on a
basis proportionate to loan volume under such part for
supplemental, need-based financial aid, except that an
institution that is operating as an eligible lender
under section 435(d)(2) shall not be eligible for any
such distribution.
(3) Independent evaluation.--The Government Accountability
Office shall conduct an independent evaluation of the pilot
programs conducted under this section and under section 499 of
the Higher Education Act of 1965 (as added by section 701 of
the College Cost Reduction and Access Act). Such evaluation
shall be completed, and the results of such submitted to the
Secretary of Education, the Secretary of the Treasury, and
Congress, not later than 120 days after the termination of the
pilot programs under this subsection.
(c) Program-Wide Implementation.--Notwithstanding any other
provision of part B of title IV, for the first academic year beginning
not less than 120 days after the independent evaluation described in
subsection (b)(3) has been transmitted to Congress, and succeeding
academic years, the Secretary of Education is authorized to implement
for all loans made under such part (other than loans made under the
William D. Ford Direct Loan Program), a program-wide, market-based
system to determine returns to all lenders as the Secretary of
Education determines appropriate, provided that--
(1) the Secretary of Education, in consultation with the
Secretary of the Treasury, has certified that the auction-based
system that the Secretary of Education intends to implement on
a program-wide basis would--
(A) ensure loan availability under such part to all
eligible students at all participating institutions;
(B) minimize administrative complexity for
borrowers, institutions, lenders, and the Federal
Government, including the enhancement of the
modernization of the student financial aid system; and
(C) reduce Federal costs when used on a program-
wide basis; and
(2) the Secretary of Education has notified Congress of the
Secretary's intent to implement a program-wide auction-based
system, and provided a description of the structure of the
auction-based system, at least 120 days before implementing
such a system.
(d) Consultation.--
(1) In general.--As part of the planning study, pilot
programs, and program-wide implementation phases described in
this section, the Secretary of Education shall consult with
representatives of investment banks, ratings agencies, lenders,
institutions of higher education and students, as well as
individuals or other entities with pertinent technical
expertise. The Secretary of Education shall engage in such
consultations using such methods as, and to the extent that,
the Secretary determines appropriate to the time constraints
associated with the study and programs.
(2) Services of other federal agencies.--In carrying out
the planning study and pilot programs described in this
section, the Secretary of Education may use, on a reimbursable
basis, the services (including procurement authorities and
services), equipment, personnel, and facilities of other
agencies and instrumentalities of the Federal Government.
A:
Student Loan Auction Market Act - Directs the Secretary of Education (Secretary) and the Secretary of the Treasury to conduct a planning study of alternative market-based mechanisms for setting lenders' yields on Federal Family Education Loans under part B of title IV of the Higher Education Act of 1965.

Requires such study to be followed by a limited two-year pilot program testing the mechanisms which the study finds most promising in ensuring loan availability, minimizing administrative complexity, and reducing federal costs. Allows the Secretary to implement on a program-wide basis the auction-based system proven to satisfy such criteria, after an independent evaluation by the Government Accountability Office (GAO) of the pilot program, as well as the Competitive Loan Auction Pilot program established under the College Cost Reduction and Access Act.