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

Ex Input:
SECTION 1. SHORT TITLE.

This Act may be cited as the ''United States Commission on
Rebuilding America for the 21st Century Act''.

SEC. 2. FINDINGS.

Congress finds the following:
(1) In 1808, Albert Gallatin, while serving as President
Thomas Jefferson's Secretary of the Treasury, reported to
Congress on the infrastructure investments needed by the young
Nation.
(2) Gallatin's plan built on President George Washington's
vision of connecting the interior settlements of the Nation
with the markets and ports of the East Coast through a network
of roads and canals, and provided a roadmap for infrastructure
development in the 19th century.
(3) In 1908, President Theodore Roosevelt convened a
conference of State and territorial governors, members of his
Cabinet and Congress, professional organizations, private
citizens, and government agencies to plan for the United States
conservation and infrastructure needs in the 20th century.
(4) The resulting plan laid the groundwork for many of the
critical investments initiated by President Franklin D.
Roosevelt to jumpstart the Nation's recovery from the Great
Depression.
(5) Today, as in 1808 and 1908, the United States is faced
with significant economic, environmental, and demographic
challenges.
(6) To stave off the worst effects of global warming, the
United States will need to reduce greenhouse gas emissions
significantly.
(7) The Nation's population is projected to increase to 420
million by 2050, which is nearly a 50 percent increase from the
Nation's population size in 2000.
(8) By 2050, more than 70 percent of the Nation's
population growth and economic growth is expected to take place
in extended networks of metropolitan regions linked by
environmental systems, transportation networks, economies, and
culture.
(9) The National Surface Transportation Policy and Revenue
Study Commission recently calculated that maintaining the
Nation's existing transportation system over the next 50 years
will require $225 billion annually. The latest transportation
authorization, SAFETEA-LU, provided only $244 billion total for
the 5 years ending with fiscal year 2009.
(10) The American Society of Civil Engineers has given the
Nation's public infrastructure, consisting of water, sewer, and
transportation systems, a grade of D-minus, estimating that it
will cost $1.6 trillion over the next 5 years merely to repair
the Nation's existing infrastructure.
(11) The Nation's decaying water infrastructure and a lack
of available funding to maintain and upgrade the Nation's
wastewater infrastructure pose a serious threat to water
quality. More than 72,000 miles of municipal water and sewer
pipe are more than 80 years old, threatening the health,
environment, and economy of communities large and small.
(12) Population growth and associated development will
place the Nation's water resources under increasing stress,
including increased pollutant loads, increased potential for
flooding, diminished drinking water supplies, loss of aquatic
habitat, and stream scouring and erosion. Global warming will
exacerbate existing water challenges and make other changes to
the natural hydrology, including more extreme storm events,
more frequent droughts, higher air and water temperatures,
changes in timing of stream flows, and sea level rise. New
technologies and a comprehensive strategy will be needed to
overcome these challenges and ensure a safe, adequate,
reliable, and sustainable water supply.
(13) The Environmental Protection Agency, the Congressional
Budget Office, and other stakeholders have identified a funding
gap of between $300 billion and $400 billion over the next 20
years for the restoration and replacement of wastewater
infrastructure, and an additional $250 billion over the next 30
years will be needed to replace worn-out drinking water pipes
and associated structures.
(14) From 1999 to 2009, the Nation's electricity demand
rose by nearly 20 percent while transmission capacity grew by
only 3.5 percent. To accommodate increased demand, and to
accommodate increased electrical supply from renewable sources
by 2050, electrical transmission infrastructure requires
significant investment.
(15) The Nation's rural economy is dependant on
transportation and communications networks to grow and compete
in an increasingly globalized market.
(16) Significant under-investment in public lands
infrastructure jeopardizes the tremendous conservation,
environmental, and mixed use benefits that these lands provide
the public.
(17) Much of the Nation's infrastructure was built in the
last half of the 20th century and will reach its capacity
limits early in the 21st century. Unless new capacity is
created in roads, rails, airports, seaports, and other systems,
the Nation's economic potential will be artificially limited.
(18) Since 1980, the number of miles people in the United
States drive has grown 3 times faster than the Nation's
population. Residents of walkable cities, however, drive 26
percent fewer miles per day than those living in the most
sprawling areas.
(19) By 2050, 89 million new or replaced homes as well as
190 billion square feet of new offices, stores, and other
nonresidential buildings will be constructed.
(20) By 2050, smart growth building policies could reduce
total transportation-related CO<INF>2</INF> emissions by 7 to
10 percent.
(21) Development of a bold national plan to overcome these
challenges by 2050 will allow the United States to respond in
the most economically and environmentally sustainable way.

SEC. 3. ESTABLISHMENT.

There is established a commission to be known as the ''United
States Commission on Rebuilding America for the 21st Century'' (in this
Act referred to as the ''Commission'').

SEC. 4. MEMBERSHIP.

(a) Appointment of Members.--The Commission shall be composed of 17
members as follows:
(1) Two members, including the chairman of the Commission,
to be appointed by the Speaker of the House of Representatives.
(2) Two members to be appointed by the majority leader of
the Senate.
(3) Three members to be appointed jointly by the minority
leader of the House of Representatives and the minority leader
of the Senate.
(4) One member to be appointed by the Administrator of the
Environmental Protection Agency.
(5) One member to be appointed by the Secretary of
Transportation.
(6) One member to be appointed by the Secretary of Housing
and Urban Development.
(7) One member to be appointed by the Secretary of the
Interior.
(8) One member to be appointed by the Secretary of Energy.
(9) One member to be appointed by the President of the
Executive Committee of the Board of Directors of the National
Association of Counties, in consultation with the other members
of the Board.
(10) One member to be appointed by the Chair of the
National Governors Association.
(11) One member to be appointed by the Executive Director
of the National Conference of State Legislatures, in
consultation with the members of the Conference's executive
committee.
(12) One member to be appointed by the President of the
Board of Directors of the National Association of Regional
Councils, in consultation with the other members of the Board.
(13) One member to be appointed by the President of the
United States Conference of Mayors, in consultation with the
members of the Conference's executive board.
(b) Dates of Appointments.--The initial member appointed to the
Commission shall be the Chairman, as designated by the Speaker of the
House of Representatives under subsection (a)(1). The remainder of the
members of the Commission shall be appointed in the 30-day period
beginning on the 30th day following the date of the appointment of the
Chairman.
(c) Qualifications.--
(1) In general.--Each member of the Commission shall be
knowledgeable in--
(A) the fields of transportation finance, highway
and transit programs, and transportation policy;
(B) the fields of land use and housing policy,
including community planning and design;
(C) the fields of water supply, water
infrastructure, and water conservation policy; or
(D) the fields of energy supply, energy
infrastructure, and energy conservation policy.
(2) Eligibility of certain representatives.--The members of
the Commission--
(A) may include representatives of State and local
governments, public transportation authorities, and
other appropriate governmental units; but
(B) may not include any member of the House of
Representatives, the Senate, or the President's
Cabinet.
(d) Terms.--The members of the Commission shall be appointed for
the life of the Commission.
(e) Vacancies.--A vacancy on the Commission shall be filled
promptly and in the manner in which the original appointment was made.
(f) Meetings.--
(1) Initial meeting.--Not later than 60 days after the last
day of the appointment period described in section 4(b), the
Commission shall hold the initial meeting of the Commission.
(2) Meetings.--The Commission shall meet at the call of the
chairman of the Commission or a majority of its members.
(3) Quorum.--A majority of the members of the Commission
shall constitute a quorum, but a lesser number of members may
hold hearings.
(g) Pay.--Members of the Commission shall serve without pay.
(h) Travel Expenses.--Each member of the Commission shall receive
travel expenses, including per diem in lieu of subsistence, in
accordance with applicable provisions under subchapter I of chapter 57
of title 5, United States Code.

SEC. 5. DUTIES.

(a) Review of Published Materials.--
(1) In general.--The Commission shall review published
materials on the Nation's transportation, water, energy, public
lands, and housing infrastructure and, based on the review,
assess the challenges of meeting the Nation's infrastructure
needs in the 21st century.
(2) Report to congress.--Not later than 120 days after the
last day of the appointment period described in section 4(b),
the Commission shall submit to Congress a report on the review
and assessment conducted under paragraph (1) and make the
report available to the public.
(b) Public Hearings.--In order to facilitate a national dialogue on
the Nation's infrastructure needs, the Commission shall hold public
hearings in at least 50 congressional districts representing a cross-
section of the geographical regions of the United States, and consult
with other interested persons, before submitting a final report under
subsection (c)
(c) Final Report.--
(1) National vision of infrastructure investments.--Not
later than one year after the last day of the appointment
period described in section 4(b), the Commission shall prepare
and submit to Congress a report that--
(A) documents the challenges of meeting the
Nation's transportation, water, energy, public lands,
and housing infrastructure needs in the 21st century;
and
(B) articulates a national vision of infrastructure
investments to overcome the challenges.
(2) Specific recommendations.--The report to be submitted
under paragraph (1) shall contain specific recommendations on
appropriate policies and investments, including integration of
existing programs, to provide the people of the United States
with--
(A) improved transportation mobility, choice, and
access to economic opportunities;
(B) streamlined investment processes to facilitate
State and local transportation investments;
(C) improved community health outcomes and social
equity;
(D) improved water conservation, quality, and
quantity;
(E) an efficient, vibrant, and flexible electric
grid that delivers clean, safe, and affordable energy;
(F) reductions in greenhouse gas emissions; and
(G) improved public lands infrastructure sufficient
to accommodate the growth in users without degrading
the environmental and conservation values of the public
lands.
(3) Model principles.--The report to be submitted under
paragraph (1) shall contain a set of model principles to ensure
that future investments in the Nation's transportation, water,
energy, public lands, and housing infrastructure incorporate
the findings and recommendations contained in the report.

SEC. 6. POWERS.

(a) Hearings and Sessions.--For the purpose of carrying out this
Act, the Commission may hold such hearings, meet and act at such times
and places, take such testimony, administer such oaths, and receive
such evidence as the Commission considers appropriate.
(b) Other Evidence.--The Commission shall gather evidence through
such means as the Commission considers appropriate, including--
(1) by soliciting comments through Federal Register
notices; and
(2) by receiving testimony at public hearings conducted by
members of the Commission, at the direction of the chairman of
the Commission, subject to appropriate rules governing the
receiving of evidence.
(c) Obtaining Official Data.--The Commission may secure directly
from any department or agency of the United States information (other
than information required by any law to be kept confidential by such
department or agency) necessary for the Commission to carry out its
duties under this Act. Upon request of the Commission, the head of that
department or agency shall furnish such nonconfidential information to
the Commission.
(d) Contracts.--The Commission may enter into contracts with other
entities in carrying out the duties of the Commission.
(e) Gifts, Bequests, and Devises.--To the extent or in the amounts
provided in advance in appropriations Acts, the Commission may accept,
use, and dispose of gifts, bequests, or devises of services or
property, both real and personal, for the purpose of aiding or
facilitating the work of the Commission. Gifts, bequests, or devises of
money and proceeds from sales of other property received as gifts,
bequests, or devises shall be deposited in the Treasury and shall be
available for disbursement upon order of the Chairperson.
(f) Mails.--The Commission may use the United States mails in the
same manner and under the same conditions as other departments and
agencies of the United States.
(g) Administrative Support Services.--Upon the request of the
Commission, the Administrator of General Services shall provide to the
Commission, on a reimbursable basis, the administrative support
services necessary for the Commission to carry out its responsibilities
under this Act.

SEC. 7. STAFF.

(a) Staff.--The Commission may appoint and fix the pay of such
personnel as the Commission considers appropriate.
(b) Staff of Federal Agencies.--Upon request of the Commission, the
head of any Federal department or agency may detail, on a reimbursable
basis, any of the personnel of that department or agency to the
Commission to assist the Commission in carrying out its duties under
this Act.
(c) Experts and Consultants.--The Commission may procure temporary
and intermittent services under section 3109(b) of title 5, United
States Code, but at rates for individuals not to exceed the daily
equivalent of the maximum annual rate of basic pay for GS-15 of the
General Schedule.

SEC. 8. AUTHORIZATION OF APPROPRIATIONS.

There is authorized to be appropriated to carry out this Act
$2,500,000.

SEC. 9. TERMINATION.

The Commission shall terminate on the 180th day following the date
of transmittal of the final report required under section 5(c). All
records and papers of the Commission shall thereupon be delivered to
the Administrator of General Services for deposit in the National
Archives.

Ex Output:
United States Commission on Rebuilding America for the 21st Century Act - Establishes the United States Commission on Rebuilding America for the 21st Century to review published materials on the nation's transportation, water, energy, public lands, and housing infrastructure and assess the challenges of meeting the nation's infrastructure needs in the 21st century.

Directs the Commission to submit to Congress a report that: (1) documents those challenges and articulates a national vision of infrastructure investments to overcome them; (2) contains specific recommendations on policies and investments to provide for streamlined state and local transportation investment processes, an electric grid that delivers clean, safe, and affordable energy, reductions in greenhouse has emissions, and improved transportation mobility, community health outcomes, water conservation, and public lands infrastructure accommodating user growth without degrading the environment; and (3) contains a set of model principles to ensure that future investments in the nation's infrastructure incorporate the report's findings and recommendations.

Ex Input:
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) Short Title.--This Act may be cited as the ''Charitable Giving
Protection Act of 1995''.
(b) Table of Contents.--The table of contents for this Act is as
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Findings.
TITLE I--AMENDMENTS TO THE SECURITIES LAWS

Sec. 101. Amendment to the Investment Company Act of 1940.
Sec. 102. Amendment to the Securities Act of 1933.
Sec. 103. Amendments to the Securities Exchange Act of 1934.
Sec. 104. Amendment of the Investment Advisers Act of 1940.
Sec. 105. Effective dates and applicability.
TITLE II--CLARIFICATION OF ANTITRUST LAWS

Sec. 201. Exemption from antitrust laws.
Sec. 202. Effective date and applicability.
SEC. 2. FINDINGS.

The Congress finds that--
(1) charities have served a unique and essential role in
meeting the needs of the American people;
(2) charities have healed the sick, fed the hungry,
sheltered the needy, and educated our children;
(3) in order to ensure that charities can continue to meet
the needs of the American people, the Federal Government should
do everything possible to encourage charitable giving;
(4) charities should be able to raise funds and invest
funds, both on their own and collectively with other charities,
without excessive Government intervention or unnecessary legal
or regulatory requirements;
(5) the Congress, in passing the Technical Corrections Act
of 1988, differentiated between charitable gift annuities and
annuities issued by commercial organizations for profit; and
(6) unlike commercial annuities, charitable gift annuities
are not issued for profit, and their issuance, maintenance, and
investment by charities is not subject to the anticompetitive
prohibitions of the Federal antitrust laws.

TITLE I--AMENDMENTS TO THE SECURITIES LAWS

SEC. 101. AMENDMENT TO THE INVESTMENT COMPANY ACT OF 1940.

Section 3(c) of the Investment Company Act of 1940 (15 U.S.C. 80a-
3(c)) is amended by inserting after paragraph (6) the following new
paragraph:
''(7)(A) Subject to subparagraph (B), a pooled income fund,
or any collective trust fund, collective investment fund, or
similar fund maintained by a charitable organization
exclusively for the collective investment and reinvestment of--
''(i) the general endowment fund or other funds of
one or more charitable organizations;
''(ii) assets of a pooled income fund;
''(iii) assets contributed to a charitable
organization in exchange for the issuance of charitable
gift annuities;
''(iv) assets of a charitable remainder trust or of
any other trust, the remainder interests of which are
irrevocably dedicated to any charitable organization;
''(v) assets of a charitable lead trust; or
''(vi) assets of a trust not described in clauses
(i) through (v), the remainder interests of which are
revocably dedicated to a charitable organization.
''(B) A fund described in subparagraph (A), and any
charitable organization that maintains such a fund, shall be
excluded from treatment as an investment company in accordance
with this subsection only if--
''(i) each contributor to a pooled income fund and
each settlor of a trust described in clause (iv), (v),
or (vi) of subparagraph (A) is provided with written
information describing the material terms of the
instruments governing the operation of the pooled
income fund, in the case of a contributor to such fund,
or of the fund in which any assets of such pooled
income fund or such a trust are invested, by the later
of June 30, 1996, or the date of investment in such
fund; and
''(ii) each person soliciting gifts, as described
in subparagraph (A), that will be administered in any
collective trust fund, collective investment fund, or
similar fund maintained by a charitable organization is
either a volunteer or is employed in the overall
fundraising activities of a charitable organization and
receives no commissions or other special compensation
based on the amount of gifts transferred to such fund.
''(C) The exemption provided by subparagraph (A)(vi) shall
terminate on December 31, 1998.
''(D) For purposes of this paragraph--
''(i) a trust or fund is 'maintained' by a
charitable organization that serves as a trustee or
administrator of the trust or fund or that has the
power to remove the trustees or administrators of the
trust or fund and to designate new trustees or
administrators;
''(ii) the term 'pooled income fund' has the same
meaning as in section 642(c)(5) of the Internal Revenue
Code of 1986;
''(iii) the term 'charitable organization' means an
organization described in paragraphs (1) through (5) of
section 170(c) or section 501(c)(3) of the Internal
Revenue Code of 1986;
''(iv) the term 'charitable lead trust' means a
trust described in section 170(f)(2)(B), 2055(e)(2)(B),
or 2522(c)(2)(B) of the Internal Revenue Code of 1986;
''(v) the term 'charitable remainder trust' means a
charitable remainder annuity trust or a charitable
remainder unitrust, as those terms are defined in
section 664(d) of the Internal Revenue Code of 1986;
and
''(vi) the term 'charitable gift annuity' means an
annuity issued by a charitable organization that is
described in section 501(m)(5) of the Internal Revenue
Code of 1986.''.

SEC. 102. AMENDMENT TO THE SECURITIES ACT OF 1933.

Section 3(a) of the Securities Act of 1933 (15 U.S.C. 77c(a)) is
amended by adding at the end the following new paragraph:
''(13) Any security issued by or any interest or
participation in any pooled income fund, collective trust fund,
collective investment fund, or similar fund that is deemed not
to be an investment company under section 3(c)(7) of the
Investment Company Act of 1940.''.
SEC. 103. AMENDMENTS TO THE SECURITIES EXCHANGE ACT OF 1934.

(a) Exempted Securities.--Section 3(a)(12)(A) of the Securities
Exchange Act of 1934 (15 U.S.C. 78c(a)(12)(A)) is amended--
(1) in clause (iv) by striking ''and'' at the end;
(2) by redesignating clause (v) as clause (vi); and
(3) by inserting after clause (iv) the following new
clause:
''(v) any security issued by or any
interest or participation in any pooled income
fund, collective trust fund, collective
investment fund, or similar fund that is deemed
not to be an investment company under section
3(c)(7) of the Investment Company Act of 1940;
and''.
(b) Exemption From Broker-Dealer Provisions.--Section 3(a) of the
Securities Exchange Act of 1934 (15 U.S.C. 78c(c)) is amended by adding
at the end the following new paragraph:
''(54) Charitable organizations.--Notwithstanding any other
provision of this title, a charitable organization, as defined
in section 3(c)(7) of the Investment Company Act of 1940, or
any trust-
ee, director, officer, employee, or volunteer of such a
charitable organization acting within the scope of such
person's employment or duties, shall not be deemed to be a
'broker', 'dealer', 'municipal securities broker', 'municipal
securities dealer', 'government securities broker', or
'government securities dealer' for purposes of this title
solely because such organization or person buys, holds, sells,
or trades in securities for its own account in its capacity as
trustee or administrator of, or otherwise on behalf of or for
the account of--
''(A) such a charitable organization;
''(B) a fund that is exempt from the provisions of
the Investment Company Act of 1940 under section
3(c)(7) of that Act; or
''(C) a trust or other donative instrument, the
assets of which may be contributed to or invested in
such funds in accordance with section 3(c)(7) of the
Investment Company Act of 1940, or the settlors (or
potential settlors) or beneficiaries of any such trust
or other instrument.''.

SEC. 104. AMENDMENT OF THE INVESTMENT ADVISERS ACT OF 1940.

Section 202(a)(11) of the Investment Advisers Act of 1940 (15
U.S.C. 80b-2(a)(11)) is amended--
(1) by striking ''does not include (A) a bank'' and
inserting ''does not include--
''(A) a bank'';
(2) by striking ''(B) any lawyer'' and inserting the
following:
''(B) any lawyer'';
(3) by striking ''(C) any broker'' and inserting the
following:
''(C) any broker'';
(4) by striking ''(D) the publisher'' and inserting the
following:
''(D) the publisher'';
(5) by striking ''(E) any person'' and inserting the
following:
''(E) any person'';
(6) by striking ''or (F) such other'' and inserting the
following:
''(G) such other''; and
(7) by inserting after subparagraph (E) the following new
subparagraph:
''(F) any charitable organization, as defined in
section 3(c)(7) of the Investment Company Act of 1940,
or any trustee, director, officer, employee, or
volunteer of such a charitable organization acting
within the scope of the employment or duties of such
person, whose advice, analyses, or reports are provided
only to--
''(i) any such charitable organization;
''(ii) a fund that is exempt from the
Investment Company Act of 1940 under section
3(c)(7) of that Act, or the trustees or
administrators of such fund; or
''(iii) a trust or other donative
instrument, the assets of which may be
contributed to or invested in such fund in
accordance with section 3(c)(7) of the
Investment Company Act of 1940, or the
trustees, administrators, settlors (or
potential settlors), or beneficiaries of any
such trust or other instrument; or''.

SEC. 105. EFFECTIVE DATES AND APPLICABILITY.

This title and the amendments made by this title shall apply in all
administrative and judicial actions pending on or commenced after the
date of enactment of this Act, as a defense to any claim that any
person, security, interest, or participation of the type described in
this title and the amendments made by this title is subject to the
provisions of the Securities Act of 1933, the Securities Exchange Act
of 1934, the Investment Company Act of 1940, or the Investment Advisers
Act of 1940, except as otherwise specifically provided in those Acts.

SEC. 106. PREEMPTION OF STATE LAW.

(a) Registration Requirements.--A security issued by or any
interest or participation in any pooled income fund, collective trust
fund, collective investment fund, or similar fund that is exempt from
the Investment Company Act of 1940 under section 3(c)(7) of that Act,
and the offer or sale thereof, shall be exempt from any law of a State
that requires registration or qualification of securities.
(b) Treatment of Charitable Organizations.--No charitable
organization, or any trustee, director, officer, employee, or volunteer
of a charitable organization acting within the scope of such person's
employment or duties, shall be required to register as, or be subject
to regulation as, a dealer, broker, agent, or investment adviser under
the laws of any State solely because such organization or person buys,
holds, sells, or trades in securities for its own account in its
capacity as trustee or administrator of, or otherwise on behalf of or
for the account of--
(1) a charitable organization;
(2) a fund that is exempt from the Investment Company Act
of 1940 under section 3(c)(7) of that Act; or
(3) a trust or other donative instrument, the assets of
which may be contributed to or invested in such funds in
accordance with section 3(c)(7) of the Investment Company Act
of 1940, or the settlors (or potential settlors) or
beneficiaries of any such trusts or other instruments.
(c) State Action.--Notwithstanding subsections (a) and (b), during
the 3-year period beginning on the date of enactment of this Act, a
State may enact a statute that specifically refers to this section and
provides prospectively that this section shall not preempt the laws of
that State referred to in this section.
(d) Definitions.--For purposes of this section--
(1) the term ''charitable organization'' means an
organization described in paragraphs (1) through (5) of section
170(c) or section 501(c)(3) of the Internal Revenue Code of
1986;
(2) the term ''security'' has the same meaning as in
section 3 of the Securities Exchange Act of 1934; and
(3) the term ''State'' means each of the several States of
the United States, the District of Columbia, the Commonwealth
of Puerto Rico, the Virgin Islands, Guam, American Samoa, and
the Commonwealth of the Northern Mariana Islands.

TITLE II--CLARIFICATION OF ANTITRUST LAWS

SEC. 201. EXEMPTION FROM ANTITRUST LAWS.

(a) In General.--The activities of a charitable organization
relating to the issuance, maintenance, or investment of a charitable
gift annuity are exempt from the application of the antitrust laws.
(b) Definitions.--For purposes of this section--
(1) the term ''antitrust laws'' means--
(A) the Sherman Act (15 U.S.C. 1 et seq.);
(B) the Clayton Act (15 U.S.C. 12 et seq.);
(C) the Federal Trade Commission Act (15 U.S.C. 41
et seq.); and
(D) any State law that is similar to the Acts
referred to in subparagraphs (A) through (C).
(2) the term ''charitable organization'' means an
organization described in paragraphs (1) through (5) of section
170(c) or section 501(c)(3) of the Internal Revenue Code of
1986;
(3) the term ''charitable gift annuity'' means an annuity
issued by a charitable organization that is described in
section 501(m)(5) of the Internal Revenue Code of 1986; and
(4) the term ''State'' means each of the several States of
the United States, the District of Columbia, the Commonwealth
of Puerto Rico, the Virgin Islands, Guam, American Samoa, and
the Commonwealth of the Northern Mariana Islands.
(c) State Action.--Notwithstanding subsections (a) and (b), during
the 3-year period beginning on the date of enactment of this Act, a
State may enact a statute that specifically refers to this section and
provides prospectively that this section shall not preempt the laws of
that State referred to in this section.

SEC. 202. EFFECTIVE DATE AND APPLICABILITY.

The exemption provided for in section 201 shall apply in any
judicial or administrative action pending on or commenced after the
date of enactment of this Act and shall serve as a defense to any claim
that the sale or issuance of a charitable gift annuity is subject to
any provision of antitrust laws.

Ex Output:
TABLE OF CONTENTS:
Title I: Amendments to the Securities Laws
Title II: Clarification of Antitrust Laws
Charitable Giving Protection Act of 1995 -
Title I: Amendments to the Securities Laws
- Exempts from the jurisdiction of the Investment Company Act of 1940, the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Advisers Act of 1940 any security issued by or any interest or participation in any pooled income fund, collective trust fund, collective investment fund, or similar fund deemed not to be an investment company under the Investment Company Act of 1940 (charitable gift annuities).
Preempts State law to extend the charitable gift annuities exemption from its jurisdiction over: (1) securities registration or qualification requirements; and (2) any charitable organization regulation.
Permits a State to enact a statute that specifically refers to this Act and provides prospectively that it does not preempt its laws.
Title II: Clarification of Antitrust Laws
- Exempts charitable gift annuities from application of the antitrust laws.

Ex Input:
SECTION 1. SHORT TITLE.

This Act may be cited as the ''Fall River Water Users District
Rural Water System Act of 1998''.

SEC. 2. FINDINGS AND PURPOSES.

(a) Findings.--Congress finds that--
(1) there are insufficient water supplies of reasonable quality
available to the members of the Fall River Water Users District
Rural Water System located in Fall River County, South Dakota, and
the water supplies that are available are of poor quality and do
not meet minimum health and safety standards, thereby posing a
threat to public health and safety;
(2) past cycles of severe drought in the southeastern area of
Fall River County have left residents without a satisfactory water
supply, and, during 1990, many home owners and ranchers were forced
to haul water to sustain their water needs;
(3) because of the poor quality of water supplies, most members
of the Fall River Water Users District are forced to either haul
bottled water for human consumption or use distillers;
(4) the Fall River Water Users District Rural Water System has
been recognized by the State of South Dakota; and
(5) the best available, reliable, and safe rural and municipal
water supply to serve the needs of the Fall River Water Users
District Rural Water System members consists of a Madison Aquifer
well, 3 separate water storage reservoirs, 3 pumping stations, and
approximately 200 miles of pipeline.
(b) Purposes.--The purposes of this Act are--
(1) to ensure a safe and adequate municipal, rural, and
industrial water supply for the members of the Fall River Water
Users District Rural Water System in Fall River County, South
Dakota;
(2) to assist the members of the Fall River Water Users
District in developing safe and adequate municipal, rural, and
industrial water supplies; and
(3) to promote the implementation of water conservation
programs by the Fall River Water Users District Rural Water System.

SEC. 3. DEFINITIONS.

In this Act:
(1) Engineering report.--The term ''engineering report'' means
the study entitled ''Supplemental Preliminary Engineering Report
for Fall River Water Users District'' published in August 1995.
(2) Project construction budget.--The term ''project
construction budget'' means the description of the total amount of
funds that are needed for the construction of the water supply
system, as described in the engineering report.
(3) Pumping and incidental operational requirements.--The term
''pumping and incidental operational requirements'' means all power
requirements that are incidental to the operation of intake
facilities, pumping stations, water treatment facilities, cooling
facilities, reservoirs, and pipelines to the point of delivery of
water by the Fall River Water Users District Rural Water System to
each entity that distributes water at retail to individual users.
(4) Secretary.--The term ''Secretary'' means the Secretary of
Agriculture.
(5) Water supply system.--The term ''water supply system''
means the Fall River Water Users District Rural Water System, a
nonprofit corporation, established and operated substantially in
accordance with the engineering report.

SEC. 4. FEDERAL ASSISTANCE FOR WATER SUPPLY SYSTEM.

(a) In General.--The Secretary shall make grants to the water
supply system for the Federal share of the costs of the planning and
construction of the water supply system.
(b) Service Area.--The water supply system shall provide for safe
and adequate municipal, rural, and industrial water supplies,
mitigation of wetlands areas, and water conservation within the
boundaries of the Fall River Water Users District, described as
follows: bounded on the north by the Angostura Reservoir, the Cheyenne
River, and the line between Fall River and Custer Counties, bounded on
the east by the line between Fall River and Shannon Counties, bounded
on the south by the line between South Dakota and Nebraska, and bounded
on the west by the Igloo-Provo Water Project District.
(c) Amount of Grants.--Grants made available under subsection (a)
to the water supply system shall not exceed the Federal share under
section 9.
(d) Limitation on Availability of Construction Funds.--The
Secretary shall not obligate funds for the construction of the water
supply system until--
(1) the requirements of the National Environmental Policy Act
of 1969 (42 U.S.C. 4321 et seq.) are met with respect to the water
supply system; and
(2) a final engineering report and plan for a water
conservation program have been prepared and submitted to Congress
for a period of not less than 90 days before the commencement of
construction of the system.

SEC. 5. MITIGATION OF FISH AND WILDLIFE LOSSES.

Mitigation of fish and wildlife losses incurred as a result of the
construction and operation of the water supply system shall be on an
acre-for-acre basis, based on ecological equivalency, concurrent with
project construction, as provided in the engineering report.

SEC. 6. USE OF PICK-SLOAN POWER.

(a) In General.--From power designated for future irrigation and
drainage pumping for the Pick-Sloan Missouri River Basin Program, the
Western Area Power Administration shall make available the capacity and
energy required to meet the pumping and incidental operational
requirements of the water supply system during the period beginning May
1 and ending October 31 of each year.
(b) Conditions.--The capacity and energy described in subsection
(a) shall be made available on the following conditions:
(1) The water supply system shall be operated on a not-for-
profit basis.
(2) The water supply system shall contract to purchase its
entire electric service requirements, including the capacity and
energy made available under subsection (a), from a qualified
preference power supplier that itself purchases power from the
Western Area Power Administration.
(3) The rate schedule applicable to the capacity and energy
made available under subsection (a) shall be the firm power rate
schedule of the Pick-Sloan Eastern Division of the Western Area
Power Administration in effect when the power is delivered by the
Administration.
(4) It shall be agreed by contract among--
(A) the Western Area Power Administration;
(B) the power supplier with which the water supply system
contracts under paragraph (2);
(C) the power supplier of the entity described in
subparagraph (B); and
(D) the Fall River Water Users District;
that in the case of the capacity and energy made available under
subsection (a), the benefit of the rate schedule described in
paragraph (3) shall be passed through to the water supply system,
except that the power supplier of the water supply system shall not
be precluded from including, in the charges of the supplier to the
water system for the electric service, the other usual and
customary charges of the supplier.

SEC. 7. NO LIMITATION ON WATER PROJECTS IN STATE.

This Act does not limit the authorization for water projects in
South Dakota under law in effect on or after the date of enactment of
this Act.

SEC. 8. WATER RIGHTS.

Nothing in this Act--
(1) invalidates or preempts State water law or an interstate
compact governing water;
(2) alters the rights of any State to any appropriated share of
the waters of any body of surface or ground water, whether
determined by past or future interstate compacts or by past or
future legislative or final judicial allocations;
(3) preempts or modifies any Federal or State law, or
interstate compact, dealing with water quality or disposal; or
(4) confers on any non-Federal entity the ability to exercise
any Federal right to the waters of any stream or to any ground
water resource.

SEC. 9. FEDERAL SHARE.

The Federal share under section 4 shall be 70 percent of--
(1) the amount allocated in the total project construction
budget for the planning and construction of the water supply system
under section 4; and
(2) such sums as are necessary to defray increases in
development costs reflected in appropriate engineering cost indices
after August 1, 1995.

SEC. 10. NON-FEDERAL SHARE.

The non-Federal share under section 4 shall be 30 percent of--
(1) the amount allocated in the total project construction
budget for the planning and construction of the water supply system
under section 4; and
(2) such sums as are necessary to defray increases in
development costs reflected in appropriate engineering cost indices
after August 1, 1995.

SEC. 11. CONSTRUCTION OVERSIGHT.

(a) Authorization.--The Secretary of the Interior, acting through
the Director of the Bureau of Reclamation, may provide construction
oversight to the water supply system for areas of the water supply
system.
(b) Project Oversight Administration.--The amount of funds used by
the Secretary for planning and construction of the water supply system
may not exceed an amount equal to 3 percent of the amount provided in
the total project construction budget for the portion of the project to
be constructed in Fall River County, South Dakota.

SEC. 12. AUTHORIZATION OF APPROPRIATIONS.

There are authorized to be appropriated--
(1) $3,600,000 for the planning and construction of the water
system under section 4; and
(2) such sums as are necessary to defray increases in
development costs reflected in appropriate engineering cost indices
after August 1, 1995.

Speaker of the House of Representatives.

Vice President of the United States and
President of the Senate.

Ex Output:
Fall River Water Users District Rural Water System Act of 1998 - Directs the Secretary of Agriculture to make grants for the Federal share of the costs of the planning and construction of the Fall River Water Users District Rural Water System, Inc. Prohibits the obligation of System construction funds until: (1) Federal environmental compliance requirements have been met; and (2) a final System engineering report and plan for a water conservation program have been prepared and submitted to the Congress for at least a 90-day period.
Requires the mitigation of fish and wildlife losses during System construction and operation.
Directs the Western Area Power Administration to make available, from power produced under the Pick-Sloan Missouri River Basin Program, the capacity and energy required to meet the pumping and incidental operational requirements of the System from May 1 to October 31 of each year. Provides power use conditions.
States that this Act does not limit: (1) the authorization for water projects in South Dakota under any law; or (2) current water rights.
Provides the Federal share (70 percent) of System costs.
Authorizes the Secretary of the Interior, acting through the Director of the Bureau of Reclamation, to provide construction oversight for areas of the System. Limits the amount of funds that may be used by the Secretary for planning and construction of the System.
Authorizes appropriations.