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

Let me give you an 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.
The answer to this example can be: 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.
Here is why: 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.

OK. solve this:
SECTION 1. EXCEPTION FROM PASSIVE LOSS RULES FOR INVESTMENTS IN HIGH
TECHNOLOGY RESEARCH SMALL BUSINESS PASS-THRU ENTITIES.

(a) In General.--Subsection (c) of section 469 of the Internal
Revenue Code of 1986 is amended by redesignating paragraphs (4) through
(7) as paragraphs (5) through (8), respectively, and by inserting after
paragraph (3) the following new paragraph:
''(4) High technology research activities.--
''(A) In general.--The term 'passive activity'
shall not include any qualified research activity of
the taxpayer carried on by a high technology research
small business pass-thru entity.
''(B) Treatment of losses and deductions.--
''(i) In general.--Losses or deductions of
a taxpayer relating to qualified research
activities carried on by a high technology
research small business pass-thru entity shall
not be treated as losses or deductions,
respectively, from a passive activity except as
provided in clause (ii) and subparagraph (C).
''(ii) Limitation.--Clause (i) shall apply
to losses and deductions of a taxpayer relating
to a high technology small business pass-thru
entity for a taxable year only to the extent
that the aggregate losses and deductions of the
taxpayer relating to qualified research
activities of such entity for such taxable year
do not exceed the portion of the taxpayer's
adjusted basis in the taxpayer's ownership
interest in such entity that is attributable to
money or other property contributed--
''(I) in exchange for such
ownership interest, and
''(II) specifically for use in
connection with qualified research
activities.
For purposes of the preceding sentence, the
taxpayer's basis shall not include any portion
of such basis which is attributable to an
increase in a partner's share of the
liabilities of a partnership that is considered
under section 752(a) as a contribution of
money.
''(C) Treatment of carryovers.--Subparagraph (B)(i)
shall not apply to the portion of any loss or deduction
that is carried over under subsection (b) into a
taxable year other than the taxable year in which such
loss or deduction arose.
''(D) Qualified research activity.--For purposes of
this paragraph, the term 'qualified research activity'
means any activity constituting qualified research
(within the meaning of section 41(d)(1)(B) and taking
into account paragraphs (3) and (4) of section 41(d))
which involves a process of experimentation.
''(E) High technology research small business pass-
thru entity.--For purposes of this paragraph, the term
'high technology research small business pass-thru
entity' means any domestic pass-thru entity for any
taxable year if--
''(i) either--
''(I) more than 75 percent of the
entity's expenditures (including
salaries, rent and overhead) for such
taxable year are paid or incurred in
connection with qualified research
(within the meaning of section
41(d)(1)(B), taking into account
paragraphs (3) and (4) of section
41(d)) that involves a process of
experimentation conducted by the
entity, or
''(II) more than 50 percent of the
entity's expenditures for such taxable
year constitute qualified research
expenses (as defined in section 41(b),
but determined without regard to the
phrase '65 percent of' in paragraph
(3)(A) thereof),
''(ii) such entity is a small business
(within the meaning of section
41(b)(3)(D)(iii), applied by substituting '250'
for '500' in subclause (I) thereof), and
''(iii) at no time during the taxable year
does the entity have aggregate gross assets in
excess of $150,000,000.
''(F) Provisions related to aggregate gross assets
limitation.--For purposes of this paragraph--
''(i) In general.--Except as otherwise
provided in this subparagraph, the term
'aggregate gross assets' has the meaning given
such term in section 1202(d)(2).
''(ii) Exception for certain intangibles.--
Any section 197 intangible (as defined in
section 197(d) and determined without regard to
section 197(e)) which is used directly in
connection with the research referred to in
subparagraph (E)(i) shall not be taken into
account in determining aggregate gross assets.
''(iii) Exception for certain follow-on
investments.--Cash from a sale of equity
interests shall not be taken into account in
determining aggregate gross assets if--
''(I) the aggregate gross assets of
such entity (determined immediately
after such sale and without regard to
this clause) do not exceed the sum of
$150,000,000, plus 25 percent of the
aggregate gross assets of such entity
(determined immediately before such
sale and without regard to this
clause), and
''(II) the aggregate gross assets
of such entity (determined immediately
before such sale and without regard to
this clause) do not exceed
$150,000,000.
Sales of equity interests which are part of the
same plan or arrangement, or which are carried
out with the principal purpose of increasing
the amount of cash to which this clause applies
(determined without regard to this sentence),
shall be treated as a single sale for purposes
of this clause.
''(iv) Inflation adjustment.--In the case
of any taxable year beginning after 2015, the
$150,000,000 amount in subparagraph (E)(iii)
and subclauses (I) and (II) of clause (iii)
shall each be increased by an amount equal to--
''(I) such dollar amount,
multiplied by
''(II) the cost of living
adjustment determined under section
1(f)(3) for the calendar year in which
the taxable year begins determined by
substituting 'calendar year 2014' for
'calendar year 1992' in subparagraph
(B) thereof.
Any increase determined under the preceding
sentence shall be rounded to the nearest
$100,000.
''(G) Capital expenditures taken into account for
expenditures test.--An expenditure shall not fail to be
taken into account under subparagraph (E)(i) merely
because such expenditure is chargeable to capital
account.
''(H) Pass-thru entity.--For purposes of this
paragraph, the term 'pass-thru entity' means any
partnership, S corporation, or other entity identified
by the Secretary as a pass-thru entity for purposes of
this paragraph.
''(I) Aggregation rules.--
''(i) In general.--All persons treated as a
single employer under subsection (a) or (b) of
section 52, or subsection (m) or (o) of section
414, shall be treated as a single entity for
purposes of subparagraphs (E) and (F)(iii).
''(ii) Limitation where entity would not
qualify.--No entity shall be treated as a high
technology research small business pass-thru
entity unless such entity qualifies as such
both with and without the application of clause
(i).
''(J) Activities not engaged in for profit and
economic substance rules.--Section 183 and the economic
substance rules of section 7701(o) shall not apply to
disallow the losses, deductions, and credits of a high
technology research small business pass-thru entity
solely as a result of losses incurred by such
entity.''.
(b) Material Participation Not Required.--Paragraph (5) of section
469(c) of the Internal Revenue Code of 1986, as redesignated by
subsection (a), is amended by striking ''and (3)'' in the heading and
text and inserting '', (3), and (4)''.
(c) Certain Research-Related Deductions and Credits of High
Technology Research Small Business Pass-Thru Entities Allowed for
Purposes of Determining Alternative Minimum Tax.--
(1) Deduction for research and experimental expenditures.--
Paragraph (2) of section 56(b) of the Internal Revenue Code of
1986 is amended by adding at the end the following new
subparagraph:
''(E) Exception for high technology research small
business pass-thru entities.--In the case of a high
technology research small business pass-thru entity (as
defined in section 469(c)(4)), this paragraph shall not
apply to any amount allowable as a deduction under
section 174(a).''.
(2) Allowance of certain research-related credits.--
Subparagraph (B) of section 38(c)(4) of such Code is amended by
redesignating clauses (ii) through (ix) as clauses (iii)
through (x), respectively, and by inserting after clause (i)
the following new clause:
''(ii) the credits of an individual
taxpayer determined under sections 41 and 48D
to the extent attributable to a high technology
research small business pass-thru entity (as
defined in section 469(c)(4)),''.
(d) Exception to Limitation on Pass-Thru of Research Credit.--
Subsection (g) of section 41 of such Code is amended by adding at the
end the following: ''Paragraphs (2) and (4) shall not apply with
respect to any high technology research small business pass-thru entity
(as defined in section 469(c)(4)).''.
(e) Effective Date.--The amendments made by this section shall
apply to losses and credits arising in taxable years beginning on or
after the date of the enactment of this Act.
Answer:
Amends the Internal Revenue Code to exempt from the definition of "passive activity," for purposes of the passive loss tax rules, any qualified research activity carried on by a high technology research small business pass-thru entity. Defines "high technology research small business pass-thru entity" as any domestic pass-thru entity if: (1) more than 75% of the entity's expenditures are paid or incurred in connection with qualified research, or (2) more than 50% of the entity's expenditures constitute qualified research expenses. Designates a high technology research entity as a small business if such entity has 250 or fewer full-time employees and does not have aggregate gross assets in excess of $150 million.