In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Q: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Montgomery GI Bill Second Chance Act
of 2004''.

SEC. 2. OPPORTUNITY FOR ACTIVE DUTY PERSONNEL TO WITHDRAW AN ELECTION
NOT TO PARTICIPATE IN THE MONTGOMERY GI BILL EDUCATION
PROGRAM.

(a) In General.--Chapter 30 of title 38, United States Code, is
amended by inserting after section 3018C the following new section:
''Sec. 3018D. Opportunity for certain active-duty personnel to enroll
''(a)(1) Notwithstanding any other provision of this chapter,
during the month of October in any year, beginning with 2004,
(hereinafter in this section referred to as the 'open season') a
qualified individual (described in subsection (b)) may make an
irrevocable election under this section to become entitled to basic
educational assistance under this chapter.
''(2) The Secretary of each military department shall provide for
procedures for a qualified individual to make an irrevocable election
under this section in accordance with regulations prescribed by the
Secretary of Defense for the purpose of carrying out this section or
which the Secretary of Homeland Security shall provide for such purpose
with respect to the Coast Guard when it is not operating as a service
in the Navy.
''(b) A qualified individual referred to in subsection (a) is an
individual who meets each of the following requirements:
''(1) The individual first became a member of the Armed
Forces or first entered on active duty as a member of the Armed
Forces before, on, or after July 1, 1985.
''(2) The individual has served on active duty without a
break in service since the date the individual first became
such a member or first entered on active duty as such a member.
''(3) The individual is serving on active duty during the
open season of the year involved.
''(4) The individual, before applying for benefits under
this section, has completed the requirements of a secondary
school diploma (or equivalency certificate) or has successfully
completed (or otherwise received academic credit for) the
equivalent of 12 semester hours in a program of education
leading to a standard college degree.
''(5) The individual, when discharged or released from
active duty, is discharged or released therefrom with an
honorable discharge.
''(c)(1) Subject to the succeeding provisions of this subsection,
with respect to a qualified individual who makes an election under this
section to become entitled to basic educational assistance under this
chapter--
''(A) the basic pay of the qualified individual shall be
reduced (in a manner determined by the Secretary concerned)
until the total amount by which such basic pay is reduced is
$1,200; and
''(B) to the extent that basic pay is not so reduced before
the qualified individual's discharge or release from active
duty as specified in subsection (b)(5), at the election of the
qualified individual--
''(i) the Secretary concerned shall collect from
the qualified individual; or
''(ii) the Secretary concerned shall reduce the
retired or retainer pay of the qualified individual by,
an amount equal to the difference between $1,200 and the total
amount of reductions under subparagraph (A), which shall be
paid into the Treasury of the United States as miscellaneous
receipts.
''(2)(A) The Secretary concerned shall provide for an 18-month
period, beginning on the date the qualified individual makes an
election under this section, for the qualified individual to pay that
Secretary the amount due under paragraph (1).
''(B) Nothing in subparagraph (A) shall be construed as modifying
the period of eligibility for and entitlement to basic educational
assistance under this chapter applicable under section 3031 of this
title.
''(d) With respect to qualified individuals referred to in
subsection (c)(1)(B), no amount of educational assistance allowance
under this chapter shall be paid to the qualified individual until the
earlier of the date on which--
''(1) the Secretary concerned collects the applicable
amount under clause (i) of such subsection; or
''(2) the retired or retainer pay of the qualified
individual is first reduced under clause (ii) of such
subsection.
''(e)(1) Except as provided in paragraph (3), a qualified
individual who is enrolled in the educational benefits program provided
by chapter 32 of this title and who makes the election described in
subsection (a)(1) shall be disenrolled from such chapter 32 program as
of the date of such election.
''(2) For each individual who is disenrolled from such program, the
Secretary shall refund--
''(A) to the individual, as provided in section 3223(b) of
this title and subject to subsection (b)(2) of this section,
the unused contributions made by the individual to the Post-
Vietnam Era Veterans Education Account established pursuant to
section 3222(a) of this title; and
''(B) to the Secretary of Defense the unused contributions
(other than contributions made under section 3222(c) of this
title) made by such Secretary to the Account on behalf of such
individual.
''(3) Any contribution made by the Secretary of Defense to the
Post-Vietnam Era Veterans Education Account pursuant to subsection (c)
of section 3222 of this title on behalf of any individual referred to
in paragraph (1) shall remain in such account to make payments of
benefits to such individual under section 3015(f) of this title.
''(f) The Secretary concerned, in conjunction with the Secretary of
Defense, shall provide for notice of the opportunity under this section
to elect to become entitled to basic educational assistance under this
chapter.''.
(b) Conforming Amendments.--(1) Sections 3011(c)(1) and 3012(d)(1)
of such title are each amended by striking ''Any individual'' in the
third sentence and inserting ''Subject to section 3018D of this title,
any individual''.
(2) Section 3015(f) of such title is amended by striking ''or
3018C'' and inserting ''3018C, or 3018D''.
(3) Section 3017(b)(1) of such title is amended--
(A) in subparagraph (A), by striking ''or 3018C(e)'' and
inserting ''3018C(e), or 3018D(d)'';
(B) in subparagraph (B), by inserting ''or 3018D(d)'' after
''3018C(e)''; or
(C) in subparagraph (C), by striking ''or 3018C(e)'' and
inserting ''3018C(e), or 3018D(d)''.
(c) Clerical Amendment.--The table of sections at the beginning of
such chapter is amended by inserting after the item relating to section
3018C the following new item:

''3018D. Opportunity for certain active-duty personnel to enroll.''.
A:
Montgomery GI Bill Second Chance Act of 2004 - Authorizes certain members of the Armed Forces to make an irrevocable election during October of any year beginning in 2004 to become entitled to basic educational assistance under the Montgomery GI Bill.

Requires a reduction in basic pay of those members electing such educational assistance or, if the member is discharged or released from active duty prior to such reduction, the collection of specified amounts from the member or an equivalent reduction in retired or retainer pay.

States that members who are enrolled in the post-Vietnam era veterans' educational assistance program shall be disenrolled from that program upon electing the educational assistance described in this Act.

Requires the Secretary concerned, in conjunction with the Secretary of Defense, to provide notice of the opportunity created by this Act to elect educational assistance under the Montgomery GI Bill.