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

Example Input: 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.
Example Output: 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.

Example Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Prescription Drug Fairness for
Seniors Act of 2001''.

SEC. 2. FINDINGS AND PURPOSES.

(a) Findings.--The Congress finds the following:
(1) Manufacturers of prescription drugs engage in price
discrimination practices that compel many older Americans to
pay substantially more for prescription drugs than consumers in
foreign nations and the drug manufacturers' most favored U.S.
customers, such as health insurers, health maintenance
organizations, and the Federal Government.
(2) Older Americans who buy their own prescription drugs
often pay twice as much for prescription drugs as consumers in
foreign nations and the drug manufacturers' most favored U.S.
customers. In some cases, older Americans pay 10 times more for
prescription drugs than such customers.
(3) The discriminatory pricing by major drug manufacturers
sustains their high profits (for example, $27,300,000,000 in
1999), but causes financial hardship and impairs the health and
well-being of millions of older Americans. Many older Americans
are forced to choose between buying their food and buying their
medicines.
(4) Foreign nations and U.S. federally funded health care
programs use purchasing power to obtain prescription drugs at
low prices. Medicare beneficiaries are denied this benefit and
cannot obtain their prescription drugs at the lower prices
available to such nations and programs.
(5) Implementation of the policy set forth in this Act will
reduce prices for brand name prescription drugs for many
Medicare beneficiaries by an average of 40 percent.
(6) In addition to substantially lowering the costs of
prescription drugs for older Americans, implementation of the
policy set forth in this Act will significantly improve the
health and well-being of older Americans and lower the costs to
the Federal taxpayer of the Medicare program.
(7) Older Americans who are terminally ill and receiving
hospice care services represent some of the most vulnerable
individuals in our nation. Making prescription drugs available
to Medicare beneficiaries under the care of Medicare-certified
hospices will assist in extending the benefits of lower
prescription drug prices to those most vulnerable and in need.
(b) Purpose.--The purpose of this Act is to protect Medicare
beneficiaries from discriminatory pricing by drug manufacturers and to
make prescription drugs available to Medicare beneficiaries at
substantially reduced prices.

SEC. 3. PARTICIPATING MANUFACTURERS.

(a) In General.--Each participating manufacturer of a covered
outpatient drug shall make available for purchase by each pharmacy such
covered outpatient drug in the amount described in subsection (b) at
the price described in subsection (c).
(b) Description of Amount of Drugs.--The amount of a covered
outpatient drug that a participating manufacturer shall make available
for purchase by a pharmacy is an amount equal to the aggregate amount
of the covered outpatient drug sold or distributed by the pharmacy to
Medicare beneficiaries.
(c) Description of Price.--The price at which a participating
manufacturer shall make a covered outpatient drug available for
purchase by a pharmacy is a price no greater than the manufacturer's
average foreign price.
(d) Enforcement.--The United States shall debar a manufacturer of
drugs or biologicals that does not comply with the provisions of this
Act.

SEC. 4. SPECIAL PROVISION WITH RESPECT TO HOSPICE PROGRAMS.

For purposes of determining the amount of a covered outpatient drug
that a participating manufacturer shall make available for purchase by
a pharmacy under section 3, there shall be included in the calculation
of such amount the amount of the covered outpatient drug sold or
distributed by a pharmacy to a hospice program. In calculating such
amount, only amounts of the covered outpatient drug furnished to a
Medicare beneficiary enrolled in the hospice program shall be included.

SEC. 5. ADMINISTRATION.

The Secretary shall issue such regulations as may be necessary to
implement this Act.

SEC. 6. REPORTS TO CONGRESS REGARDING EFFECTIVENESS OF ACT.

(a) In General.--Not later than 2 years after the date of the
enactment of this Act, and annually thereafter, the Secretary shall
report to the Congress regarding the effectiveness of this Act in--
(1) protecting Medicare beneficiaries from discriminatory
pricing by drug manufacturers, and
(2) making prescription drugs available to Medicare
beneficiaries at substantially reduced prices.
(b) Consultation.--In preparing such reports, the Secretary shall
consult with public health experts, affected industries, organizations
representing consumers and older Americans, and other interested
persons.
(c) Recommendations.--The Secretary shall include in such reports
any recommendations the Secretary considers appropriate for changes in
this Act to further reduce the cost of covered outpatient drugs to
Medicare beneficiaries.

SEC. 7. DEFINITIONS.

In this Act:
(1) Average foreign price.--
(A) In general.--The term ''average foreign price''
means, with respect to a covered outpatient drug, the
average price that the manufacturer of the drug
realizes on the sale of drugs with the same active
ingredient or ingredients that are consumed in covered
foreign nations, taking into account--
(i) any rebate, contract term or condition,
or other arrangement (whether with the
purchaser or other persons) that has the effect
of reducing the amount realized by the
manufacturer on the sale of the drugs; and
(ii) adjustments for any differences in
dosage, formulation, or other relevant
characteristics of the drugs.
(B) Exempt transactions.--The Secretary may, by
regulation, exempt from the calculation of the average
foreign price of a drug those prices realized by a
manufacturer in transactions that are entered into for
charitable purposes, for research purposes, or under
other unusual circumstances, if the Secretary
determines that the exemption is in the public interest
and is consistent with the purposes of this Act.
(2) Covered foreign nation.--The term ''covered foreign
nation' means Canada, France, Germany, Italy, Japan, and the
United Kingdom.
(3) Covered outpatient drug.--The term ''covered outpatient
drug'' has the meaning given that term in section 1927(k)(2) of
the Social Security Act (42 U.S.C. 1396r-8(k)(2)).
(4) Debar.--The term ''debar'' means to exclude, pursuant
to established administrative procedures, from Government
contracting and subcontracting for a specified period of time
commensurate with the seriousness of the failure or offense or
the inadequacy of performance.
(5) Hospice program.--The term ''hospice program'' has the
meaning given that term under section 1861(dd)(2) of the Social
Security Act (42 U.S.C. 1395x(dd)(2)).
(6) Medicare beneficiary.--The term ''Medicare
beneficiary'' means an individual entitled to benefits under
part A of title XVIII of the Social Security Act or enrolled
under part B of such title, or both.
(7) Participating manufacturer.--The term ''participating
manufacturer'' means any manufacturer of drugs or biologicals
that, on or after the date of the enactment of this Act, enters
into a contract or agreement with the United States for the
sale or distribution of covered outpatient drugs to the United
States.
(8) Secretary.--The term ''Secretary'' means the Secretary
of Health and Human Services.

SEC. 8. EFFECTIVE DATE.

The Secretary shall implement this Act as expeditiously as
practicable and in a manner consistent with the obligations of the
United States.
Example Output: Prescription Drug Fairness for Seniors Act of 2001 - Requires each participating manufacturer of a covered outpatient drug to make it available for purchase by each pharmacy: (1) in an amount equal to the aggregate amount sold or distributed by the pharmacy to Medicare beneficiaries; and (2) at a price no greater than the manufacturer's average foreign price. Sets forth special provisions with respect to hospice programs.

Example Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Cheaper Car Insurance Act of 2004''.

SEC. 2. AUTOMOBILE INSURANCE FRAUD.

(a) In General.--Chapter 47 of title 18, United States Code, is
amended by inserting at the end the following:

''SEC. 1038. AUTOMOBILE INSURANCE FRAUD.

''(a) Whoever knowingly commits automobile insurance fraud shall be
punished as provided in subsection (e).
''(b) Whoever knowingly acts as a runner, capper, or steerer shall
be punished as provided in subsection (e).
''(c) Whoever knowingly acts as an organizer of an auto insurance
fraud operation shall be punished as provided in subsection (e).
''(d) Whoever knowingly acts as a mastermind or leader of an auto
insurance fraud operation shall be punished as provided in subsection
(e).
''(e) The punishment for an offense under subsections (a), (b),
(c), or (d) shall be as follows:
''(1) For any violation of subsection (a) in which the
defendant is not also convicted of being a runner, capper, or
steerer under subsection (b), an organizer under subsection
(c), or a leader or master mind under subsection (d), such
person shall be fined not more than $100,000, imprisoned not
more than 5 years, or both. If the defendant has a prior
conviction under subsection (a), such person shall be fined not
more than $100,000, imprisoned not more than 10 years, or both.
''(2) For any violation of subsection (b), such person
shall be fined not more than $100,000, imprisoned not more than
5 years, or both.
''(3) For any violation of subsection (c), such person
shall be fined not more than $100,000, imprisoned not more than
10 years, or both.
''(4) For any violation of subsection (d), such person
shall be fined not more than $100,000, imprisoned not more than
15 years, or both.
''(f) If a violation of subsection (a), (b), (c), or (d) results in
costs that exceed $100,000, the fine imposed under subsection (b) may
be in an amount greater than $100,000 in order to cover the resulting
cost.
''(g) In this section--
''(1) the term 'automobile insurance fraud' means fraud
committed by any person who knowingly and intentionally
presents a written statement or claim, causes a written
statement or claim to be presented, or prepares a written
statement or claim with knowledge or belief that it will be
presented to or by an insurer, self-insurer, or any agent
thereof, that such person knows--
''(A) contains materially false information
concerning any fact material to an application,
certificate, evidence, or claim referred to in
paragraph (2); or
''(B) conceals, for the purpose of misleading,
information concerning any fact material to an
application, certificate, evidence, or claim referred
to in paragraph (2);
''(2) the term 'mastermind' or 'leader' means any
individual who knowingly solicits or employs 2 or more people,
or conspires with 2 or more people, to engage in automobile
insurance fraud, and who is not also a runner, capper, steerer,
or an organizer;
''(3) the term 'organizer' means any individual who
knowingly solicits or employs a runner, capper, or steerer, or
acts as a runner, capper, or steerer, with the intent of
seeking to falsely or fraudulently obtain benefits under a
contract of insurance, or to falsely or fraudulently assert a
claim against an insured or an insurer for providing services
to a client, patient, or customer;
''(4) the term 'runner, capper, or steerer' means any
person who, for either direct or indirect pecuniary benefit,
knowingly procures or attempts to procure a client, patient, or
customer at the direction of, or in cooperation with, a person
committing automobile insurance fraud under subsection (b),
regardless of whether or not the person otherwise participates
in the fraud; and
''(5) the term 'written statement or claim' means a written
statement or submission by telephone, computer, or in any other
electronic or digital form, that is part of, or in support of--
''(A) an application for the issuance of or the
rating of a commercial insurance policy;
''(B) a certificate or evidence of self-insurance
for commercial insurance or commercial self-insurance;
or
''(C) a claim for payment or other benefit pursuant
to an insurance policy or self-insurance program for
commercial or personal insurance.''.
(b) Conforming Amendment.--The chapter analysis for chapter 47 of
title 18, United States Code, is amended by adding at the end the
following:

''1038. Automobile insurance fraud''.

SEC. 3. BEST PRACTICES.

(a) In General.--The Department of Justice shall publish best
practices for the States to use--
(1) in licensing auto body shops that perform work paid for
by insurers; and
(2) in licensing medical treatment provided to people who
are injured in automobile accidents.
(b) Goal.--The goal of publishing best practices as required under
subsection (a) is to encourage the States to adopt such practices to
limit the feasibility of committing insurance fraud.

SEC. 4. INVESTIGATION OF FRAUDULENT PRACTICES.

(a) In General.--The Attorney General shall cooperate with the
offices of the United States Attorneys to--
(1) aggressively investigate fraudulent chop shops and
salvage yards;
(2) aggressively prosecute automobile insurance fraud (as
defined in section 1037 of title 18, United States Code); and
(3) report statistics on investigations, prosecutions, and
convictions of automobile insurance fraud.
(b) Reporting.--Statistics referred to in subsection (a)(3) shall
be reported to the Subcommittee on Administrative Oversight and the
Courts of the Committee on the Judiciary of the Senate and the
appropriate Committee of the House of Representatives.

SEC. 5. FEDERAL-STATE-LOCAL ANTI-AUTO INSURANCE TASK FORCE.

(a) Establishment of Units.--The Attorney General shall establish
Federal-State-Local Anti-Auto Insurance Fraud Task Forces in the
offices of the United States Attorneys in the 10 cities in the United
States that are most severely affected, as determined by the Attorney
General, by automobile insurance fraud (as defined in section 1037 of
title 18, United States Code).
(b) Purpose.--The special units established under subsection (a)
shall investigate and prosecute automobile insurance fraud.
(c) Authorization of Appropriations.--There are authorized to be
appropriated to carry out this section $25,000,000 in fiscal year 2005,
and such sums or fiscal years thereafter as determined by Congress.

SEC. 6. INSURANCE COMPANY RIGHT TO MANDATORY INSPECTION BEFORE
INSURING.

(a) Right of Inspection.--An insurance company shall have the right
to require a mandatory inspection by an insurance company
representative or agent of any motor vehicle prior to agreeing to
provide insurance coverage, except as provided under subsection (b).
(b) Exemption From Pre-insurance Inspection.--The right to inspect
under subsection (a) may be waived by an insurance company under the
following circumstances:
(1) The motor vehicle is already insured under the policy
for either comprehensive or collision coverage.
(2) The motor vehicle is a new vehicle purchased from a
retail dealership, and the insurer is provided with--
(A) a copy of the bill of sale containing a full
description of the motor vehicle, including options and
accessories, and a statement from the seller that the
motor vehicle has no damage; or
(B) a copy of the Manufacturer Statement of Origin,
a statement from the seller that the motor vehicle has
no damage, and a copy of the window sticker or dealer
invoice containing a full description of the motor
vehicle, including options or accessories.
(3) An insured named in the policy has been insured by the
same insurer for 1 or more policy years under a policy that has
continuously provided physical damage coverage.
(4) The motor vehicle is rented or leased for less than 6
months, provided that the insurer is given a copy of the lease
or rental agreement, and that the document contains a complete
description of the rented or leased motor vehicle, including
its condition at the time of lease or rental.
(5) The motor vehicle is rated or insured under a
commercial automobile insurance policy.
(6) When pre-insurance inspection would cause serious
hardship to the insured or applicant for insurance, and the
hardship is documented in records maintained by the insurer.
(c) Non-discrimination of Pre-insurance Inspections.--An insurer
may require a pre-insurance inspection of an otherwise exempt motor
vehicle. The decision to require a pre-insurance inspection of an
exempt vehicle shall not be based on the age, race, sex, religion, or
marital status of the applicant or insured, or the fact that the motor
vehicle has been insured through a residual or non-voluntary insurance
market.
Example Output:
Cheaper Car Insurance Act of 2004 - Amends the Federal criminal code to prohibit automobile insurance fraud.

Directs the Department of Justice to publish best practices for the States to use in licensing: (1) auto body shops that perform work paid for by insurers; and (2) medical treatment provided to people who are injured in automobile accidents.

Requires the Attorney General to: (1) cooperate with the offices of the U.S. Attorneys to aggressively investigate fraudulent chop shops and salvage yards, to aggressively prosecute automobile insurance fraud, and to report statistics on investigations, prosecutions, and convictions; and (2) establish Federal-State-Local Anti-Auto Insurance Fraud Task Forces in the offices of the U.S. Attorneys in the ten U.S. cities that are most severely affected.

Grants an insurance company the right to require a mandatory inspection by an insurance company representative or agent of any motor vehicle prior to agreeing to provide insurance coverage. Permits a company to waive such right under specified circumstances. Allows an insurer to require a pre-insurance inspection of an otherwise exempt motor vehicle, but prohibits basing such decision on the age, race, sex, religion, or marital status of the applicant or insured or the fact that the vehicle has been insured through a residual or non-voluntary insurance market.