Teacher: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Teacher: Now, understand the problem? If you are still confused, see the following 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: 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.
Reason: 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 instance: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Promoting Fully Informed Investment
Decision Making Act of 2007''.

SEC. 2. STATE SPONSOR OF TERRORISM DEFINED.

In this Act, the term ''state sponsor of terrorism'' means any
country, the government of which has been determined by the Secretary
of State to have repeatedly provided support for acts of international
terrorism pursuant to--
(1) section 6(j)(1)(A) of the Export Administration Act of
1979 (50 U.S.C. App. 2405(j)(1)(A)) (or any successor thereto);
(2) section 40(d) of the Arms Export Control Act (22 U.S.C.
2780(d)); or
(3) section 620A(a) of the Foreign Assistance Act of 1961
(22 U.S.C. 2371(a)).

SEC. 3. SECURITIES AND EXCHANGE COMMISSION DISCLOSURE OF BUSINESS TIES
TO STATE SPONSORS OF TERROR.

(a) Requirement for a Securities and Exchange Commission Report.--
Not later than 90 days after the date of enactment of this Act and
annually thereafter, the Securities and Exchange Commission (in this
Act referred to as the ''Commission'') shall prepare and submit to
Congress a report on business activities carried out with state
sponsors of terrorism.
(b) Content.--The report required by subsection (a) shall include--
(1) a list of all persons required to make periodic or
other filings pursuant to section 13(a) or 15(d) of the
Securities Exchange Act of 1934 (15 U.S.C. 78m(a), 78o(d)) that
disclose in filings with the Commission business activity in or
with a country that is a state sponsor of terrorism, or an
instrumentality of such a country;
(2) a description of such business activities carried out
by each person referred to in paragraph (1);
(3) the value of such activities carried out by each person
referred to in paragraph (1); and
(4) a description of the disclosure standard in effect at
the time at which the content of the report was collected, if
it has changed from the time of the first or most recent report
submitted pursuant to subsection (a), and the criteria for
persons to register under section 12(g) of the Securities
Exchange Act of 1934 (15 U.S.C. 78l(g)).
(c) Publication of Disclosure Data.--The Commission shall make the
report required by this section available on its website in an easily
accessible and searchable format, and shall regularly update the
information on the website as new information becomes available to the
Commission.
(d) Strengthening Securities and Exchange Commission Disclosure
Requirement.--Not later than 180 days after the date of enactment of
this Act, the Commission shall issue regulations to require disclosure
by all persons required to make periodic or other filings pursuant to
section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15
U.S.C. 78m(a), 78o(d)) of business activity in an amount equal to more
than $20,000,000, either directly or through an affiliate, in or with a
country that is a state sponsor of terrorism, or an instrumentality of
such country.

SEC. 4. GOVERNMENT ACCOUNTABILITY OFFICE REPORTS.

(a) Evaluation of Securities and Exchange Commission Report.--Not
later than 90 days after the date of delivery of the report of the
Commission under section 3, and annually thereafter, the Comptroller
General of the United States shall prepare and submit to Congress a
report that evaluates the completeness of the report of the Commission
under section 3, to include--
(1) a list, in classified form, as necessary, of all
persons, including foreign persons, that are not included in
the report of the Commission under section 3 that are
identified by the intelligence community (as that term is
defined in section 3 of the National Security Act of 1947 (50
U.S.C. 401a)), the Secretary of Commerce, the Secretary of
Defense, the Secretary of Energy, the Secretary of State, the
Secretary of the Treasury, and other appropriate governmental
entities, as carrying out business activities in or with a
country that is a state sponsor of terrorism, or an
instrumentality of such a country;
(2) a list of all persons, including foreign persons, that
are not included in the report of the Commission under section
3 that are identified by relevant nongovernmental entities as
carrying out business activities in or with a country that is a
state sponsor of terrorism, or an instrumentality of such a
country; and
(3) a description of such business activities and the value
of such activities for all persons identified in paragraphs (1)
and (2).
(b) Investment Report.--Not later than 120 days after the date of
delivery of the report of the Commission under section 3, and annually
thereafter, the Comptroller General of the United States shall prepare
and submit to Congress, a report--
(1) that contains the names of persons described in section
3(b)(1) that are included in each of the major investable
financial market indices and the holdings of the Federal Thrift
Savings Plan of the Federal Retirement Thrift Investment Board
(in this subsection referred to as the ''TSP''), including--
(A) the percentage of each such index and TSP
holdings comprised of such persons; and
(B) the dollar capitalization of each such person;
(2) that contains, in classified form, as necessary, the
names of persons described in paragraphs (1) and (2) of
subsection (a) that are included in each of the major
investable financial market indices and the holdings of the
TSP, including--
(A) the percentage of each such index and TSP
holdings comprised of such persons; and
(B) the dollar capitalization of each such person;
and
(3) the unclassified portion of which is made available on
the website of the Government Accountability Office in an
easily accessible and searchable format.
(c) Government Contracting Report.--Not later than 120 days after
the date of delivery of the report of the Commission under section 3,
and annually thereafter, the Comptroller General of the United States
shall prepare and submit to Congress, a report--
(1) that contains the names of the persons described in
section 3(b)(1), the nature of the activity, and the value of
United States Government active contracting for the procurement
of goods or services with any such person;
(2) that contains, in classified form, as necessary, the
names of persons described in paragraphs (1) and (2) of
subsection (a), the nature of the activity, and the value of
United States Government active contracting for the procurement
of goods or services with any such person; and
(3) the unclassified portion of which is made available on
the website of the Government Accountability Office in an
easily accessible and searchable format.

SEC. 5. SENSE OF CONGRESS REGARDING ENCOURAGEMENT FOR FOREIGN EXCHANGES
TO STRENGTHEN DISCLOSURE REQUIREMENTS.

It is the sense of the Congress that the United States Trade
Representative, the Chairman of the Commission, the Secretary of State,
and other relevant representatives of the United States Government
should encourage United States allies to implement disclosure standards
that are similar to those required by this Act for the securities
exchanges of those countries.

SEC. 6. AUTHORIZATION FOR CERTAIN DIVESTMENT MEASURES.

(a) Investment Company Act of 1940.--Section 13 of the Investment
Company Act of 1940 (15 U.S.C. 80a-13) is amended by adding at the end
the following:
''(c) Safe Harbor for Changes in Investment Policies.--
''(1) In general.--Notwithstanding any other provision of
Federal or State law, no person may bring any civil, criminal,
or administrative action against any registered investment
company or person providing services to such registered
investment company (including its investment adviser), or any
employee, officer, or director thereof, based solely upon the
investment company divesting from, or avoiding investing in,
securities issued by persons that have business ties to a state
sponsor of terrorism.
''(2) Definition.--For purposes of this subsection, the
term 'person' includes the Federal Government and any State or
political subdivision of a State.''.
Student:
Promoting Fully Informed Investment Decision Making Act of 2007 - Directs the Securities and Exchange Commission (SEC) to: (1) report to Congress on business activities carried out with state sponsors of terrorism; and (2) issue regulations to require disclosure by all persons required to make filings under the Securities Exchange Act of 1934 regarding any business activity of more than $20 million in or with a country that is a state sponsor of terrorism, or an instrumentality of such country.

Instructs the Comptroller General to report to Congress on: (1) the completeness of the SEC report; (2) the names of such persons included in each of the major investable financial market indices and the holdings of the Federal Thrift Savings Plan; and (3) the nature of the activities concerned, and the value of U.S. government active contracting with such persons for the procurement of goods or services.

Expresses the sense of Congress that the U.S. Trade Representative, the Chairman of the SEC, the Secretary of State, and other relevant representatives of the U.S. government should encourage U.S. allies to implement disclosure standards similar to those required by this Act for the securities exchanges of those countries.

Amends the Investment Company Act of 1940 to prohibit civil, criminal, or administrative action against any registered investment company based solely upon its divesting from, or avoiding investing in, securities issued by persons that have business ties to a state sponsor of terrorism.