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

Now, solve this: SECTION 1. SHORT TITLE.

This Act may be cited as ''State Business Law Conformity Act of
2004''.

SEC. 2. REFERENCES TO GENERAL PARTNERS.

(a) Exclusion of Certain Active Businesses From at Risk Rules.--
Subclause (I) of section 465(c)(7)(D)(ii) of the Internal Revenue Code
of 1986 (defining qualified corporate partner) is amended to read as
follows:
''(I) such corporation is not
prohibited or limited under State law
from participation in the management or
business of the partnership.''.
(b) Payments to Retiring Partners.--Subparagraph (B) of section
736(b)(3) of such Code (relating to limitation on application of
paragraph (2)) is amended to read as follows:
''(B) any portion of the retiring or deceased
partner's distributive share of partnership income was
subject to tax under section 1401.''.
(c) Foreign Currency Transactions.--Subclause (I) of section
988(c)(1)(E)(v) of such Code is amended to read as follows:
''(I) Certain general partners.--
The interest of a partner in the
partnership shall not be treated as
failing to meet the 20-percent
ownership requirements of clause
(iii)(I) for any taxable year of the
partnership if for the taxable year of
the partner in which such partnership
taxable year ends--
''(aa) the partner is not
limited as to participation in
the management or activity of
the qualified fund, and
''(bb) such partner (and
each corporation filing a
consolidated return with such
partner) had no ordinary income
or loss from a section 988
transaction which is foreign
currency gain or loss (as the
case may be).''.
(d) Special Valuation Rules for Generation-Skipping Tax.--Clause
(ii) of section 2701(b)(2)(B) of such Code (relating to partnerships)
is amended to read as follows:
''(ii) in the case of a limited
partnership, the holding of any interest as a
partner who is not limited as to participation
in management or activity of the
partnership.''.
(e) Tax Matters Partner.--Paragraph (7) of section 6231(a) of such
Code (defining tax matters partner) is amended to read as follows:
''(7) Tax matters partner.--
''(A) In general.--The tax matters partner of any
partnership is--
''(i) the partner designated as the tax
matters partner as provided in regulations, or
''(ii) if there is no partner who has been
so designated, the partner having the largest
profits interest in the partnership at the
close of the taxable year involved (or, where
there is more than 1 such partner, the 1 of
such partners whose name would appear first in
an alphabetical listing).
''(B) Selection by secretary.--If there is no
partner designated under subparagraph (A)(i) and the
Secretary determines that it is impracticable to apply
subparagraph (A)(ii), the partner selected by the
Secretary shall be treated as the tax matters partner.
The Secretary shall, within 30 days of selecting a tax
matters partner under the preceding sentence, notify
all partners required to receive notice under section
6223(a) of the name and address of the person selected.
''(C) Restriction on designation of partner.--A
partner may not be designated as a tax matters partner
under subparagraph (A)(i) unless such partner is not
limited as to participation in management or activity
of the partnership.''.
(f) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2004.

SEC. 3. REFERENCES TO LIMITED PARTNERS.

(a) Limited Entrepreneur.--
(1) In general.--Subparagraph (A) of section 464(e)(2) of
the Internal Revenue Code of 1986 (defining limited
entrepreneur) is amended by striking ''other than as a limited
partner''.
(2) Conforming amendments.--
(A) Section 464(c) of such Code is amended--
(i) by striking ''limited partners or'' in
paragraph (1)(B),
(ii) by striking ''a limited partner or''
in paragraph (2).
(B) Section 1256 of such Code is amended--
(i) by striking ''limited partners or''
each place it appears in subsections (e)(3)(B)
and (f)(4),
(ii) by striking ''a limited partner or''
in subsection (e)(3)(C), and
(iii) by striking ''limited partner or''
both places it appears in the heading and text
of subsection (e)(4)(A)(i).
(C) Section 1258(d)(5)(C) of such Code is amended--
(i) by striking ''limited partner or'' in
the matter preceding subclause (i),
(ii) by striking ''limited partner's (or
limited entrepreneur's) in subclause (i) and
inserting ''limited entrepreneur's'', and
(iii) by striking ''partners and limited''
in the heading.
(b) Passive Loss Rules.--
(1) Subsection (h) of section 469 of such Code is amended
by striking paragraph (2) and by redesignating paragraphs (3),
(4), and (5) as paragraphs (2), (3), and (4), respectively.
(2) Subparagraph (A) of section 469(c)(7) of such Code is
amended by striking the last sentence.
(3) Paragraph (6) of section 469(i) of such Code is amended
by striking subparagraph (C) and by redesignating subparagraph
(D) as subparagraph (C).
(4) Subsection (f) of section 772 of such Code (relating to
special rules for applying passive loss limitations) is amended
to read as follows:
''(f) Special Rules for Applying Passive Loss Limitations.--
''(1) In general.--If any person holds an interest in an
electing large partnership other than as a partner described in
paragraph (3)--
''(A) paragraph (2) of subsection (c) shall not
apply to such partner, and
''(B) such partner's distributive share of the
partnership items allocable to passive loss limitation
activities shall be taken into account separately to
the extent necessary to comply with the provisions of
section 469.
''(2) Exception.--Paragraph (1) shall not apply to any
items allocable to an interest held as a partner described in
paragraph (3).
''(3) Partner described.--For purposes of this subsection,
a partner is described in this paragraph if the partner is a
person whose participation in the management or business
activity of the partnership is limited under applicable State
law.''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2004.

SEC. 4. PARTNERSHIP INCOME ATTRIBUTABLE TO CAPITAL EXCLUDED FROM NET
EARNINGS FROM SELF-EMPLOYMENT.

(a) In General.--Paragraph (13) of section 1402(a) of the Internal
Revenue Code of 1986 is amended to read as follows:
''(13) there shall be excluded the distributive share of
net income of a partner attributable to capital;''.
(b) Partnership Income Attributable to Capital.--Section 1402 of
such Code is amended by adding at the end the following new subsection:
''(l) Partnership Income Attributable to Capital.--
''(1) In general.--For purposes of subsection (a)(13), the
following amounts shall be treated as income attributable to
capital--
''(A) the amount, if any, in excess of what would
constitute reasonable compensation for services
rendered by such partner to the partnership, and
''(B) an amount equal to a reasonable rate of
return on unreturned capital of the partner determined
as of the beginning of the taxable year.
''(2) Definitions.--For purposes of paragraph (1)--
''(A) Unreturned capital.--The term 'unreturned
capital' means the excess of the aggregate amount of
money and the fair market value as of the date of
contribution of other consideration (net of
liabilities) contributed by the partner over the
aggregate amount of money and the fair market value as
of the date of distribution of other consideration (net
of liabilities) distributed by the partnership to the
partner, increased or decreased for the partner's
distributive share of all reportable items as
determined in section 702. If the partner acquires a
partnership interest and the partnership makes an
election under section 754, the partner's unreturned
capital shall take into account appropriate adjustments
under section 743.
''(B) Reasonable rate of return.--A reasonable rate
of return on unreturned capital shall equal 150 percent
(or such higher rate as is established in regulations)
of the highest applicable Federal rate, as determined
under section 1274(d)(1), at the beginning of the
partnership's taxable year.
''(3) Regulations.--The Secretary shall prescribe such
regulations as may be necessary to carry out the purposes of
this subsection.''.
(c) Effective Date.--The amendments made by this section shall
apply with respect to services performed in taxable years beginning
after December 31, 2004.

SEC. 5. REPEAL OF ABILITY TO ELECT LARGE PARTNERSHIP REPORTING RULES.

(a) In General.--Paragraph (2) of section 775(a) of the Internal
Revenue Code of 1986 (relating to election) is amended by adding at the
end the following: ''No election under this subsection shall be made
after December 31, 2004.''.
(b) Effective Date.--The amendment made by this section shall apply
to partnership taxable years beginning after December 31, 2004.
Solution:
State Business Law Conformity Act of 2004 - Amends the Internal Revenue Code to: (1) revise certain partnership tax definitions and rules relating to general and limited partners; (2) exclude from net earnings from self-employment partnership income attributable to capital; and (3) repeal, after 2004, the election to apply large partnership (100 partners or more) tax rules.