TASK DEFINITION: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
PROBLEM: SECTION 1. PROGRAM ON PROVISION OF READJUSTMENT AND MENTAL HEALTH CARE
SERVICES TO VETERANS WHO SERVED IN OPERATION IRAQI
FREEDOM AND OPERATION ENDURING FREEDOM.

(a) Program Required.--Not later than 180 days after the date of
the enactment of this Act, the Secretary of Veterans Affairs shall
establish a program to provide--
(1) to veterans of Operation Iraqi Freedom and Operation
Enduring Freedom, particularly veterans who served in such
operations while in the National Guard and the Reserves--
(A) peer outreach services;
(B) peer support services;
(C) readjustment counseling and services described
in section 1712A of title 38, United States Code; and
(D) mental health services; and
(2) to members of the immediate family of such a veteran,
during the three-year period beginning on the date of the
return of such veteran from deployment in Operation Iraqi
Freedom and Operation Enduring Freedom, education, support,
counseling, and mental health services to assist in--
(A) the readjustment of such veteran to civilian
life;
(B) in the case such veteran has an injury or
illness incurred during such deployment, the recovery
of such veteran; and
(C) the readjustment of the family following the
return of such veteran.
(b) Contracts With Community Mental Health Centers and Qualified
Entities for Provision of Services.--In carrying out the program
required by subsection (a), the Secretary shall contract with community
mental health centers and other qualified entities to provide the
services required by such subsection in areas the Secretary determines
are not adequately served by other health care facilities of the
Department of Veterans Affairs. Such contracts shall require each
contracting community health center or entity--
(1) to the extent practicable, to employ veterans trained
under subsection (c);
(2) to the extent practicable, to use telehealth services
for the delivery of services required by subsection (a);
(3) to participate in the training program conducted in
accordance with subsection (d);
(4) to comply with applicable protocols of the Department
of Veterans Affairs before incurring any liability on behalf of
the Department for the provision of the services required by
subsection (a);
(5) to submit annual reports to the Secretary containing,
with respect to the program required by subsection (a) and for
the last full calendar year ending before the submission of
such report--
(A) the number of the veterans served, veterans
diagnosed, and courses of treatment provided to
veterans as part of the program required by subsection
(a); and
(B) demographic information for such services,
diagnoses, and courses of treatment;
(6) for each veteran for whom a community mental health
center or other qualified entity provides mental health
services under such contract, to provide the Department of
Veterans Affairs with such clinical summary information as the
Secretary shall require; and
(7) to meet such other requirements as the Secretary shall
require.
(c) Training of Veterans for the Provision of Peer-Outreach and
Peer-Support Services.--In carrying out the program required by
subsection (a), the Secretary shall contract with a national not-for-
profit mental health organization to carry out a national program of
training for veterans described in subsection (a) to provide the
services described in subparagraphs (A) and (B) of paragraph (1) of
such subsection.
(d) Training of Clinicians for Provision of Services.--The
Secretary shall conduct a training program for clinicians of community
mental health centers or entities that have contracts with the
Secretary under subsection (b) to ensure that such clinicians can
provide the services required by subsection (a) in a manner that--
(1) recognizes factors that are unique to the experience of
veterans who served on active duty in Operation Iraqi Freedom
or Operation Enduring Freedom (including their combat and
military training experiences); and
(2) utilizes best practices and technologies.
(e) Reports Required.--
(1) Initial report on plan for implementation.--Not later
than 45 days after the date of the enactment of this Act, the
Secretary shall submit to the Committee on Veterans' Affairs of
the Senate and the Committee on Veterans' Affairs of the House
of Representatives a report containing the plans of the
Secretary to implement the program required by subsection (a).
(2) Status report.--Not later than one year after the date
of the enactment of this Act, the Secretary shall submit to the
Committee on Veterans' Affairs of the Senate and the Committee
on Veterans' Affairs of the House of Representatives a report
on the implementation of the program. Such report shall include
the following:
(A) Information on the number of veterans who
received services as part of the program and the type
of services received during the last full calendar year
completed before the submission of such report.
(B) An evaluation of the provision of services
under paragraph (2) of subsection (a) and a
recommendation as to whether the period described in
such paragraph should be extended to a five-year
period.
(f) Authorization of Appropriations.--There are authorized to be
appropriated to the Secretary of Veterans Affairs such sums as may be
necessary to carry out this section.

SEC. 2. EXTENSION OF ELIGIBILITY FOR HEALTH CARE SERVICES FROM
DEPARTMENT OF VETERANS AFFAIRS FOR VETERANS OF SERVICE IN
COMBAT THEATER.

Section 1710(e)(3)(C) of title 38, United States Code, is amended
by striking ''2 years'' and inserting ''5 years''.

SOLUTION: Directs the Secretary of Veterans Affairs to establish a program to provide to veterans of Operations Iraqi Freedom and Enduring Freedom, particularly veterans who served in such Operations while in the National Guard and reserves: (1) peer outreach and support services; (2) readjustment counseling and related services; and (3) mental health services. Directs the Secretary to also provide to immediate family members of such veterans, during the three-year period following the return of the veterans from such a deployment, education, support, counseling, and mental health services to assist in: (1) readjustment to civilian life; (2) recovery from an injury or illness incurred during such deployment; and (3) readjustment of the family following the veteran's return.

Authorizes the Secretary to contract with community health centers and other qualified entities to provide such services in areas not adequately served by health care facilities of the Department of Veterans Affairs (VA).

Requires the Secretary to: (1) contract for a program to train veterans to provide the peer outreach and support services; and (2) conduct a training program for clinicians of community health centers and entities contracted to provide such services.

Extends the eligibility for hospital care, medical services, and nursing home care for veterans who served on active duty in a theater of combat operations from two to five years after their discharge or release from such duty.

PROBLEM: SECTION 1. SPECIAL DEPRECIATION ALLOWANCE AND RECOVERY PERIOD FOR
NONCOMMERCIAL AIRCRAFT PROPERTY.

(a) In General.--Section 168 of the Internal Revenue Code of 1986
is amended by adding at the end the following:
''(o) Special Allowance for Noncommercial Airplanes.--
''(1) Additional allowance.--
''(A) In general.--In the case of any qualified
noncommercial aircraft to which this subparagraph
applies--
''(i) the depreciation deduction provided
by section 167(a) for the taxable year in which
such property is placed in service shall
include an allowance equal to 50 percent of the
adjusted basis of the qualified noncommercial
aircraft property, and
''(ii) the adjusted basis of the qualified
noncommercial aircraft property shall be
reduced by the amount of such deduction before
computing the amount otherwise allowable as a
depreciation deduction under this chapter for
such taxable year and any subsequent taxable
year.
''(B) Application to aircraft purchased in 2010 or
2011.--Subparagraph (A) applies to qualified
noncommercial aircraft property placed in service after
December 31, 2009, and before January 1, 2012, which
is--
''(i) acquired by the taxpayer after
December 31, 2009, and before January 1, 2012,
but only if no written binding contract for the
acquisition was in effect before January 1,
2010, or
''(ii) acquired by the taxpayer pursuant to
a written binding contract which was entered
into after December 31, 2009, and before
January 1, 2012, and
''(2) Recovery period.--For purposes of this section--
''(A) In general.--Qualified noncommercial aircraft
to which this subparagraph applies shall be treated as
3-year property.
''(B) Application to aircraft purchased before
2015.--Subparagraph (A) applies to qualified
noncommercial aircraft placed in service after the date
of the enactment of this subsection and before January
1, 2015, which is--
''(i) acquired by the taxpayer after the
date of the enactment of this subsection and
before January 1, 2015, but only if no written
binding contract for the acquisition was in
effect before such date of the enactment, or
''(ii) acquired by the taxpayer pursuant to
a written binding contract which was entered
into after December 31, 2008, and before
January 1, 2015, and
''(3) Qualified noncommercial aircraft property.--For
purposes of this subsection--
''(A) In general.--The term 'qualified
noncommercial aircraft property' means any aircraft--
''(i) which is not used in the trade or
business of transporting persons or property,
''(ii) to which this section applies, and
''(iii) the original use of which commences
with the taxpayer after--
''(I) December 31, 2009, for
purposes of paragraph (1), and
''(II) the date of the enactment of
this subsection for purposes of
paragraph (2).
''(B) Exceptions.--
''(i) Bonus depreciation property under
subsection (k).--The term 'qualified
noncommercial aircraft property' shall not
include any property to which subsection (k)(1)
applies.
''(ii) Alternative depreciation property.--
The term 'qualified noncommercial aircraft
property' shall not include any property to
which the alternative depreciation system under
subsection (g) applies, determined--
''(I) without regard to paragraph
(7) of subsection (g) (relating to
election to have system apply), and
''(II) after application of section
280F(b) (relating to listed property
with limited business use).
''(iii) Election out.--If a taxpayer makes
an election under this clause with respect to
any class of property for any taxable year,
this subsection shall not apply to all property
in such class placed in service during such
taxable year.
''(C) Special rule for self-constructed property.--
In the case of a taxpayer manufacturing, constructing,
or producing property for the taxpayer's own use, if
the taxpayer begins manufacturing, constructing, or
producing the property--
''(i) after December 31, 2009, and before
January 1, 2012, for purposes of paragraph (1),
and
''(ii) after the date of the enactment of
this subsection and before January 1, 2015, for
purposes of paragraph (2),
the requirements of paragraph (1)(B) or (2)(B) (as the
case may be) shall be treated as met.
''(D) Deduction allowed in computing minimum tax.--
For purposes of determining alternative minimum taxable
income under section 55, the deduction under subsection
(a) for qualified noncommercial aircraft property shall
be determined under this section without regard to any
adjustment under section 56.''.
(b) Effective Date.--The amendments made by this section shall
apply to property placed in service after the date of the enactment of
this Act, in taxable years ending after such date.

SOLUTION: Amends the Internal Revenue Code to allow: (1) increased depreciation of qualified noncommercial aircraft property placed in service in 2010 or 2011; and (2) a three-year recovery period for the depreciation of such property placed in service before 2015. Defines "qualified noncommercial aircraft property" as any aircraft that is not used in the trade or business of transporting persons or property and that is first used after 2009. Allows such increased depreciation as an offset against the alternative minimum tax.

PROBLEM: SECTION 1. SHORT TITLE; AMENDMENT OF 1986 CODE.

(a) Short Title.--This Act may be cited as the ''Long-Term
Investment Incentive Act of 1997''.
(b) Amendment of 1986 Code.--Except as otherwise expressly
provided, whenever in this Act an amendment or repeal is expressed in
terms of an amendment to, or repeal of, a section or other provision,
the reference shall be considered to be made to a section or other
provision of the Internal Revenue Code of 1986.

SEC. 2. REDUCTION OF TAX ON LONG-TERM CAPITAL GAINS ON ASSETS HELD MORE
THAN 2 YEARS.

(a) In General.--Part I of subchapter P of chapter 1 (relating to
treatment of capital gains) is amended by redesignating section 1202 as
section 1203 and by inserting after section 1201 the following new
section:

''SEC. 1202. CAPITAL GAINS DEDUCTION FOR ASSETS HELD BY NONCORPORATE
TAXPAYERS MORE THAN 2 YEARS.

''(a) General Rule.--If a taxpayer other than a corporation has a
net capital gain for any taxable year, there shall be allowed as a
deduction an amount equal to the sum of the applicable percentages of
the classes of net capital gain described in the table under subsection
(b).
''(b) Applicable Percentage.--For purposes of this subsection, the
applicable percentage shall be the percentage determined in accordance
with the following table:

The applicable
''In the case of:
percentage is:
2-year gain........................ 7.145
3-year gain........................ 14.29
4-year gain........................ 21.45
5-year gain........................ 28.57
6-year gain........................ 35.71
7-year gain........................ 42.86
8-year gain........................ 50.00.
''(c) Gain to Which Deduction Applies.--For purposes of this
section--
''(1) 2-year gain.--The term '2-year gain' means the lesser
of--
''(A) the net capital gain for the taxable year, or
''(B) the amount of long-term capital gain which
would be computed for the taxable year if only gain
from the sale or exchange of property held by the
taxpayer for more than 2 years but not more than 3
years were taken into account.
''(2) 3-year gain, etc.--The terms '3-, 4-,
5-, 6-, or 7-year gain' mean the amounts determined under
paragraph (1)--
''(A) by reducing the amount of the net capital
gain under subparagraph (A) thereof by an amount equal
to the long-term capital gain from the sale or exchange
of property with a holding period less than the minimum
holding period for any such category, and
''(B) by substituting 3, 4, 5, 6, or 7 years for 2
years and 4, 5, 6, 7, or 8 years for 3 years,
respectively, in subparagraph (B) thereof.
''(3) 8-year gain.--The term '8-year gain' means the lesser
of--
''(A) the net capital gain for the taxable year,
reduced by in the same manner as under paragraph
(2)(A), or
''(B) the amount of the long-term capital gain
which would be computed for the taxable year if only
gain from the sale or exchange of property held by the
taxpayer for more than 8 years were taken into account.
''(d) Estates and Trusts.--In the case of an estate or trust, the
deduction under subsection (a) shall be computed by excluding the
portion (if any) of the gains for the taxable year from sales or
exchanges of capital assets which, under sections 652 and 662 (relating
to inclusions of amounts in gross income of beneficiaries of trusts),
is includible by the income beneficiaries as gain derived from the sale
or exchange of capital assets.
''(e) Coordination With Treatment of Capital Gain Under Limitation
on Investment Interest.--For purposes of this section, the net capital
gain for any taxable year shall be reduced (but not below zero) by the
amount which the taxpayer takes into account as investment income under
section 163(d)(4)(B)(iii).
''(f) Treatment of Collectibles.--
''(1) In general.--Solely for purposes of this section, any
gain or loss from the sale or exchange of a collectible shall
be treated as a short-term capital gain or loss (as the case may be),
without regard to the period such asset was held. The preceding
sentence shall apply only to the extent the gain or loss is taken into
account in computing taxable income.
''(2) Treatment of certain sales of interest in
partnership, etc.--For purposes of paragraph (1), any gain from
the sale or exchange of an interest in a partnership, S
corporation, or trust which is attributable to unrealized
appreciation in the value of collectibles held by such entity
shall be treated as gain from the sale or exchange of a
collectible. Rules similar to the rules of section 751(f) shall
apply for purposes of the preceding sentence.
''(3) Collectible.--For purposes of this subsection, the
term 'collectible' means any capital asset which is a
collectible (as defined in section 408(m) without regard to
paragraph (3) thereof).
''(g) Transitional Rule.--
''(1) In general.--Gain may be taken into account under
subsection (c) only if such gain is properly taken into account
on or after May 7, 1997.
''(2) Special rules for pass-thru entities.--
''(A) In general.--In applying paragraph (1) with
respect to any pass-thru entity, the determination of
when gains and losses are properly taken into account
shall be made at the entity level.
''(B) Pass-thru entity defined.--For purposes of
subparagraph (A), the term 'pass-thru entity' means--
''(i) a regulated investment company,
''(ii) a real estate investment trust,
''(iii) an S corporation,
''(iv) a partnership,
''(v) an estate or trust, and
''(vi) a common trust fund.''
(b) Deduction Allowable in Computing Adjusted Gross Income.--
Subsection (a) of section 62 is amended by inserting after paragraph
(16) the following new paragraph:
''(17) Long-term capital gains.--The deduction allowed by
section 1202.''
(c) Maximum Capital Gains Rate.--Section 1(h) is amended by adding
at the end the following new sentence: ''For purposes of this
subsection, taxable income shall be computed without regard to the
deduction allowed under section 1202.''
(d) Treatment of Certain Pass-Thru Entities.--
(1) Capital gain dividends of regulated investment
companies.--
(A) Subparagraph (B) of section 852(b)(3) is
amended to read as follows:
''(B) Treatment of capital gain dividends by
shareholders.--A capital gain dividend shall be treated
by the shareholders as gain from the sale or exchange
of a capital asset held for more than 1 year but not
more than 2 years; except that the portion of any such
dividend designated by the company as allocable 2-, 3-,
4-, 5-, 6-, 7-, or 8-year gain of the company shall be
treated as gain from the sale or exchange of a capital
asset held for the amount of years in such class for
purposes of section 1202. Rules similar to the rules of
subparagraph (C) shall apply to any designation under
the preceding sentence.''
(B) Clause (i) of section 852(b)(3)(D) is amended
by adding at the end the following new sentence:
''Rules similar to the rules of subparagraph (B) shall
apply in determining character of the amount to be so
included by any such shareholder.''
(2) Capital gain dividends of real estate investment
trusts.--Subparagraph (B) of section 857(b)(3) is amended to
read as follows:
''(B) Treatment of capital gain dividends by
shareholders.--A capital gain dividend shall be treated
by the shareholders or holders of beneficial interests
as gain from the sale or exchange of a capital asset
held for more than 1 year but not more than 2 years;
except that the portion of any such dividend designated
by the company as allocable to 2-, 3-, 4-, 5-, 6-, 7-,
or 8-year gain of the company shall be treated as gain
from the sale or exchange of a capital asset held for
the amount of years in such class for purposes of
section 1202. Rules similar to the rules of
subparagraph (C) shall apply to any designation under
the preceding sentence.''
(3) Common trust funds.--Subsection (c) of section 584 is
amended--
(A) by inserting ''and not more than 2 years''
after ''1 year'' each place it appears in paragraph
(2),
(B) by striking ''and'' at the end of paragraph
(2), and
(C) by redesignating paragraph (3) as paragraph (4)
and inserting after paragraph (2) the following new
paragraph:
''(3) as part of its gains from sales or exchanges of
capital assets held for periods described in the classes of
gains under section 1202(c), its proportionate share of the
gains of the common trust fund from sales or exchanges of
capital assets held for such periods, and''.
(e) Technical and Conforming Changes.--
(1) Subparagraph (B) of section 170(e)(1) is amended by
inserting ''(or, in the case of a taxpayer other than a
corporation, the percentage of such gain equal to 100 percent
minus the percentage applicable to such gain under section
1202(a))'' after ''the amount of gain''.
(2) Subparagraph (B) of section 172(d)(2) is amended to
read as follows:
''(B) the deduction under section 1202 and the
exclusion under section 1203 shall not be allowed.''
(3)(A) Section 221 (relating to cross reference) is amended
to read as follows:

''SEC. 221. CROSS REFERENCES.

''(1) For deduction for net capital gains in the case of a taxpayer
other than a corporation, see section 1202.
''(2) For deductions in respect of a decedent, see section 691.''
(B) The table of sections for part VII of subchapter B of
chapter 1 is amended by striking ''reference'' in the item
relating to section 221 and inserting ''references''.
(4) The last sentence of section 453A(c)(3) is amended by
striking all that follows ''long-term capital gain,'' and
inserting ''the maximum rate on net capital gain under section
1(h) or 1201 or the deduction under section 1202 (whichever is
appropriate) shall be taken into account.''
(5) Paragraph (4) of section 642(c) is amended to read as
follows:
''(4) Adjustments.--To the extent that the amount otherwise
allowable as a deduction under this subsection consists of gain
from the sale or exchange of capital assets held for more than
1 year, proper adjustment shall be made for any deduction
allowable to the estate or trust under section 1202 or any
exclusion allowable to the estate or trust under section
1203(a). In the case of a trust, the deduction allowed by this
subsection shall be subject to section 681 (relating to
unrelated business income).''
(6) The last sentence of paragraph (3) of section 643(a) is
amended to read as follows: ''The deduction under section 1202
and the exclusion under section 1203 shall not be taken into
account.''
(7) Subparagraph (C) of section 643(a)(6) is amended by
inserting ''(i)'' before ''there shall'' and by inserting
before the period '', and (ii) the deduction under section 1202
(relating to capital gains deduction) shall not be taken into
account''.
(8) Paragraph (4) of section 691(c) is amended by striking
''sections 1(h), 1201, and 1211'' and inserting ''sections
1(h), 1201, 1202, and 1211''.
(9) The second sentence of section 871(a)(2) is amended by
inserting ''or 1203'' after ''1202''.
(10) Subsection (d) of section 1044 is amended by striking
''1202'' and inserting ''1203''.
(11) Paragraph (1) of section 1402(i) is amended by
inserting '', and the deduction provided by section 1202 shall
not apply'' before the period at the end thereof.
(f) Clerical Amendment.--The table of sections for part I of
subchapter P of chapter 1 is amended by inserting after the item
relating to section 1201 the following new item:

''Sec. 1202. Capital gains deduction for
assets held by noncorporate
taxpayers more than 2 years.''
(g) Effective Date.--
(1) In general.--Except as otherwise provided in this
subsection, the amendments made by this section shall apply to
taxable years ending on and after May 7, 1997.
(2) Contributions.--The amendment made by subsection (e)(1)
shall apply to contributions on or after May 7, 1997.

SOLUTION:
Long-Term Investment Incentive Act of 1997 - Amends the Internal Revenue Code to establish a sliding scale capital gains deduction on assets held between two years and eight years by noncorporate taxpayers.