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

This Act may be cited as the ''Small Business Fair Treatment Act of
1995''.

SEC. 2. TABLE OF CONTENTS.

The table of contents for this Act is as follows:

Sec. 1. Short title.
Sec. 2. Table of contents.
TITLE I--REGULATORY SIMPLIFICATION AND VOLUNTARY COMPLIANCE

Sec. 101. Definitions.
Sec. 102. Compliance guides.
Sec. 103. No action letter.
Sec. 104. Voluntary self-audits.
TITLE II--MISCELLANEOUS PROVISIONS

Sec. 201. Performance measures.
Sec. 202. Grace period for correction of violations of Environmental
Protection Agency regulations.
Sec. 203. Waiver of punitive fines for small entities.

TITLE I--REGULATORY SIMPLIFICATION AND VOLUNTARY COMPLIANCE

SEC. 101. DEFINITIONS.

For purposes of this Act, the following definitions shall apply:
(1) Compliance guide.--The term ''compliance guide'' means
a publication made by a covered agency under section 102(a).
(2) Covered agency.--The term ''covered agency'' means any
agency that, on the date of enactment of this Act, has
promulgated any rule for which a regulatory flexibility
analysis was required under section 605 of title 5, United
States Code, and any other agency that promulgates any such
rule, as of the date of enactment of this Act.
(3) No action letter.--The term ''no action letter'' means
a written determination from a covered agency stating that,
based on a no action request submitted to the agency by a small
entity, the agency will not take enforcement action against the
small entity under the rules of the covered agency.
(4) No action request.--The term ''no action request''
means a written correspondence submitted by a small entity to a
covered agency--
(A) stating a set of facts; and
(B) requesting a determination by the agency of
whether the agency would take an enforcement action
against the small entity based on such facts and the
application of any rule of the agency.
(5) Rule.--The term ''rule'' has the same meaning as in
section 601(2) of title 5, United States Code.
(6) Small entity.--The term ''small entity'' has the same
meaning as in section 601(6) of title 5, United States Code.
(7) Small business concern.--The term ''small business
concern'' has the same meaning as in section 3 of the Small
Business Act.
(8) Voluntary self-audit.--The term ''voluntary self-
audit'' means an audit, assessment, or review of any operation,
practice, or condition of a small entity that--
(A) is initiated by an officer, employee, or agent
of the small entity; and
(B) is not required by law.

SEC. 102. COMPLIANCE GUIDES.

(a) Compliance Guide.--
(1) Publication.--If a covered agency is required to
prepare a regulatory flexibility analysis for a rule or group
of related rules under section 603 of title 5, United States
Code, the agency shall publish a compliance guide for such rule
or group of related rules.
(2) Requirements.--Each compliance guide published under
paragraph (1) shall--
(A) contain a summary description of the rule or
group of related rules;
(B) contain a citation to the location of the
complete rule or group of related rules in the Federal
Register;
(C) provide notice to small entities of the
requirements under the rule or group of related rules
and explain the actions that a small entity is required
to take to comply with the rule or group of related
rules;
(D) be written in a manner to be understood by the
average owner or manager of a small entity; and
(E) be updated as required to reflect changes in
the rule.
(b) Dissemination.--
(1) In general.--Each covered agency shall establish a
system to ensure that compliance guides required under this
section are published, disseminated, and made easily available
to small entities.
(2) Small business development centers.--In carrying out
this subsection, each covered agency shall provide sufficient
numbers of compliance guides to small business development
centers for distribution to small businesses concerns.
(c) Limitation on Enforcement.--
(1) In general.--No covered agency may bring an enforcement
action in any Federal court or in any Federal administrative
proceeding against a small entity to enforce a rule for which a
compliance guide is not published and disseminated by the
covered agency as required under this section.
(2) Effective dates.--This subsection shall take effect--
(A) 1 year after the date of the enactment of this
Act with regard to a final regulation in effect on the
date of the enactment of this Act; and
(B) on the date of the enactment of this Act with
regard to a regulation that takes effect as a final
regulation after such date of enactment.

SEC. 103. NO ACTION LETTER.

(a) Application.--This section applies to all covered agencies,
except--
(1) the Federal Trade Commission;
(2) the Equal Employment Opportunity Commission; and
(3) the Consumer Product Safety Commission.
(b) Issuance of No Action Letter.--Not later than 90 days after the
date on which a covered agency receives a no action request, the agency
shall--
(1) make a determination regarding whether to grant the no
action request, deny the no action request, or seek further
information regarding the no action request; and
(2) if the agency makes a determination under paragraph (1)
to grant the no action request, issue a no action letter and
transmit the letter to the requesting small entity.
(c) Reliance on No Action Letter or Compliance Guide.--In any
enforcement action brought by a covered agency in any Federal court or
Federal administrative proceeding against a small entity, the small
entity shall have a complete defense to any allegation of noncompliance
or violation of a rule if the small entity affirmatively pleads and
proves by a preponderance of the evidence that the act or omission
constituting the alleged noncompliance or violation was taken in good
faith with and in reliance on--
(1) a no action letter from that agency; or
(2) a compliance guide of the applicable rule published by
the agency under section 102(a).

SEC. 104. VOLUNTARY SELF-AUDITS.

(a) Procedures.--Each agency shall establish voluntary self-audit
procedures for small entities regulated by the agency.
(b) Inadmissibility of Evidence and Limitation on Discovery.--If
action to address a violation is taken not later than 180 days after
the date on which a voluntary self-audit is concluded, the evidence
described in subsection (c)--
(1) shall not be admissible, unless agreed to by the small
entity, in any enforcement action brought against a small
entity by a Federal agency in any Federal--
(A) court; or
(B) administrative proceeding; and
(2) may not be the subject of discovery in any enforcement
action brought against a small entity by a Federal agency in
any Federal--
(A) court; or
(B) administrative proceeding.
(c) Application.--For purposes of subsection (b), the evidence
described in this subsection is--
(1) a voluntary self-audit made in good faith; and
(2) any report, finding, opinion, or any other oral or
written communication made in good faith relating to such
voluntary self-audit.
(d) Exceptions.--Subsection (b) shall not apply if--
(1) the act or omission that forms the basis of the
enforcement action is a violation of criminal law; or
(2) the voluntary self-audit or the report, finding,
opinion, or other oral or written communication was prepared
for the purpose of avoiding disclosure of information required
for an investigative, administrative, or judicial proceeding
that, at the time of preparation, was imminent or in progress.

TITLE II--MISCELLANEOUS PROVISIONS

SEC. 201. PERFORMANCE MEASURES.

No covered agency shall establish or enforce agency personnel
practices that reward agency employees, directly or indirectly, based
on the number of contacts made with small entities in pursuit of
enforcement actions or on the amount of fines levied against small
entities to enforce agency regulations.

SEC. 202. GRACE PERIOD FOR CORRECTION OF VIOLATIONS OF ENVIRONMENTAL
PROTECTION AGENCY REGULATIONS.

(a) In General.--Subject to subsection (b), for violations of
regulations identified on or after the date of enactment of this Act,
the Administrator of the Environmental Protection Agency shall afford
small entities 180 days after the date on which the violation is
identified to correct such violation.
(b) Exception.--Subsection (a) shall not apply--
(1) if the Administrator of the Environmental Protection
Agency determines that there is an imminent risk to public
health or worker safety; or
(2) to a violation of a regulation for which criminal
liability may be imposed.

SEC. 203. WAIVER OF PUNITIVE FINES FOR SMALL ENTITIES.

Notwithstanding any other law, policy, or practice, a covered
agency may waive all or part of a punitive fine that would otherwise be
imposed on a small entity if--
(1) the fine is for a first time violation of a law or
regulation; and
(2) the small entity acts quickly and in good faith to
correct the violation.
answer:
TABLE OF CONTENTS:
Title I: Regulatory Simplification and Voluntary Compliance
Title II: Miscellaneous Provisions
Small Business Fair Treatment Act of 1995 -
Title I: Regulatory Simplification and Voluntary Compliance
- Directs a Federal regulatory agency that is required to prepare a regulatory flexibility analysis for a rule or group of related rules to publish a compliance guide which: (1) contains a summary of the rules and a citation as to their location; (2) provides a notice to small businesses (small entities) of such rules as well as an understandable explanation of actions necessary for compliance; and (3) is updated as required. Requires such guide to be disseminated to small entities, as well as to small business development centers. Prohibits any covered agency from bringing an action against a small entity to enforce a rule for which such a guide has not been published and disseminated.
(Sec. 103) Requires covered agencies other than the Federal Trade Commission, the Equal Employment Opportunity Commission, and the Consumer Product Safety Commission to determine within 90 days whether to grant or deny a request by a small entity that no action be taken against such entity with respect to the enforcement of a rule (no action request). Allows a small entity to rely on a no action response from a covered agency in any subsequent action brought against the small entity for a rule's enforcement.
(Sec. 104) Requires each covered agency to establish voluntary self-audit procedures for small entities regulated by the agency. Makes inadmissible as evidence in an action, as well as outside the bounds of discovery, any information compiled by a small entity in a voluntary self-audit, as long as an action to address such violation is brought within 180 days after the conclusion of the self-audit.
Title II: Miscellaneous Provisions
- Prohibits any covered agency from establishing personnel practices that reward its employees based on the number of contacts made with small entities in pursuit of enforcement actions or the levy of fines to enforce agency regulations.
(Sec. 202) Directs the Administrator of the Environmental Protection Agency (EPA) to afford small entities a 180-day grace period for the correction of EPA violations, with exceptions.
(Sec. 203) Authorizes a covered agency to waive all or part of any punitive fine that would otherwise be imposed on a small entity: (1) for a first time violation; and (2) if the small entity acts quickly and in good faith to correct the violation.

question:
SECTION 1. SHORT TITLE.

This Act may be cited as the ''Weather Modification Research and
Technology Transfer Authorization Act of 2005''.

SEC. 2. PURPOSE.

It is the purpose of this Act to develop and implement a
comprehensive and coordinated national weather modification policy and
a national cooperative Federal and State program of weather
modification research and development.

SEC. 3. DEFINITIONS.

In this Act:
(1) Board.--The term ''Board'' means the Weather
Modification Advisory and Research Board.
(2) Executive director.--The term ''Executive Director''
means the Executive Director of the Weather Modification
Advisory and Research Board.
(3) Research and development.--The term ''research and
development'' means theoretical analysis, exploration,
experimentation, and the extension of investigative findings
and theories of scientific or technical nature into practical
application for experimental and demonstration purposes,
including the experimental production and testing of models,
devices, equipment, materials, and processes.
(4) Weather modification.--The term ''weather
modification'' means changing or controlling, or attempting to
change or control, by artificial methods the natural
development of atmospheric cloud forms or precipitation forms
which occur in the troposphere.

SEC. 4. WEATHER MODIFICATION ADVISORY AND RESEARCH BOARD ESTABLISHED.

(a) In General.--There is established in the Department of Commerce
the Weather Modification Advisory and Research Board.
(b) Membership.--
(1) In general.--The Board shall consist of 11 members
appointed by the Secretary of Commerce, of whom--
(A) at least 1 shall be a representative of the
American Meteorological Society;
(B) at least 1 shall be a representative of the
American Society of Civil Engineers;
(C) at least 1 shall be a representative of the
National Academy of Sciences;
(D) at least 1 shall be a representative of the
National Center for Atmospheric Research of the
National Science Foundation;
(E) at least 2 shall be representatives of the
National Oceanic and Atmospheric Administration of the
Department of Commerce;
(F) at least 1 shall be a representative of
institutions of higher education or research
institutes; and
(G) at least 1 shall be a representative of a State
that is currently supporting operational weather
modification projects.
(2) Tenure.--A member of the Board serves at the pleasure
of the Secretary of Commerce.
(3) Vacancies.--Any vacancy on the Board shall be filled in
the same manner as the original appointment.
(b) Advisory Committees.--The Board may establish advisory
committees to advise the Board and to make recommendations to the Board
concerning legislation, policies, administration, research, and other
matters.
(c) Initial Meeting.--Not later than 30 days after the date on
which all members of the Board have been appointed, the Board shall
hold its first meeting.
(d) Meetings.--The Board shall meet at the call of the Chair.
(e) Quorum.--A majority of the members of the Board shall
constitute a quorum, but a lesser number of members may hold hearings.
(f) Chair and Vice Chair.--The Board shall select a Chair and Vice
Chair from among its members.

SEC. 5. DUTIES OF THE BOARD.

(a) Promotion of Research and Development.--In order to assist in
expanding the theoretical and practical knowledge of weather
modification, the Board shall promote and fund research and
development, studies, and investigations with respect to--
(1) improved forecast and decisionmaking technologies for
weather modification operations, including tailored computer
workstations and software and new observation systems with
remote sensors; and
(2) assessments and evaluations of the efficacy of weather
modification, both purposeful (including cloud-seeding
operations) and inadvertent (including downwind effects and
anthropogenic effects).
(b) Financial Assistance.--Unless the use of the money is
restricted or subject to any limitations provided by law, the Board
shall use amounts in the Weather Modification Research and Development
Fund--
(1) to pay its expenses in the administration of this Act;
and
(2) to provide for research and development with respect to
weather modifications by grants to, or contracts or cooperative
arrangements with, public or private agencies.
(c) Report.--The Board shall submit to the Secretary of Commerce
biennially a report on its findings and research results.

SEC. 6. POWERS OF THE BOARD.

(a) Studies, Investigations, and Hearings.--The Board may make any
studies or investigations, obtain any information, and hold any
hearings necessary or proper to administer or enforce this Act or any
rules or orders issued under this Act.
(b) Personnel.--The Board may employ, as provided for in
appropriations Acts, an Executive Director and other support staff
necessary to perform duties and functions under this Act.
(c) Cooperation With Other Agencies.--The Board may cooperate with
public or private agencies to promote the purposes of this Act.
(d) Cooperative Agreements.--The Board may enter into cooperative
agreements with the head of any department or agency of the United
States, an appropriate official of any State or political subdivision
of a State, or an appropriate official of any private or public agency
or organization for conducting weather modification activities or
cloud-seeding operations.
(e) Conduct and Contracts for Research and Development.--The
Executive Director, with the approval of the Board, may conduct and may
contract for research and development activities relating to the
purpose described in section 2.

SEC. 7. COOPERATION WITH THE WEATHER MODIFICATION OPERATIONS AND
RESEARCH BOARD.

The heads of the departments and agencies of the United States and
the heads of any other public or private agencies and institutions that
receive research funds from the United States shall, to the extent
possible, give full support and cooperation to the Board and to
initiate independent research and development programs that address
weather modifications.

SEC. 8. FUNDING.

(a) In General.--There is established within the Treasury of the
United States the Weather Modification Research and Development Fund,
which shall consist of amounts appropriated pursuant to subsection (b)
or received by the Board under subsection (c).
(b) Authorization of Appropriations.--There are authorized to be
appropriated to the Board for the purposes of carrying out this Act
$10,000,000 for each of fiscal years 2006 through 2015. Any sums
appropriated under this subsection shall remain available, without
fiscal year limitation, until expended.
(c) Gifts.--The Board may accept, use, and dispose of gifts or
donations of services or property.
answer:
Weather Modification Research and Technology Transfer Authorization Act of 2005 - Establishes in the Department of Commerce the Weather Modification Advisory and Research Board to promote and fund research and development (R&D), studies, and investigations with respect to: (1) improved forecast and decisionmaking technologies for weather modification operations, including tailored computer workstations and software and new observation systems with remote sensors; and (2) assessments and evaluations of the efficacy of weather modification, both purposeful (including cloud-seeding operations) and inadvertent (including downwind effects and anthropogenic effects).

Establishes within the U.S. Treasury the Weather Modification Research and Development Fund. Directs the Board, unless the use of the money is restricted or subject to any limitations provided by law, to use amounts in the Fund to: (1) pay its expenses in the administration of this Act; and (2) provide for R&D with respect to weather modifications by grants to, or contracts or cooperative arrangements with, public or private agencies.

question:
SECTION 1. SHORT TITLE.

This Act may be cited as the ''Seasoned Customer CTR Exemption Act
of 2008''.

SEC. 2. FINDINGS.

The Congress finds as follows:
(1) When it is possible to reduce the regulatory burden on
depository institutions associated with reporting requirements
under chapter 53 of title 31, United States Code, while at the
same time maintaining the utility of such reports to law
enforcement efforts, it is appropriate to do so.
(2) In February 2008, the Comptroller General issued a
report titled ''Bank Secrecy Act: Increased Use of Exemption
Provisions Could Reduce Currency Transaction Reporting While
Maintaining Usefulness to Law Enforcement Efforts'' (GAO-08-
355).
(3) The Comptroller General finds that since transactions
of exempt customers are of little or no value to law
enforcement efforts, efforts made to increase the use of such
exemptions by depository institutions could reduce the
regulatory burden associated with filing unnecessary cash
transaction reports and the government's costs to process them,
while maintaining the utility of such reports to law
enforcement efforts.
(4) The Comptroller General finds that the requirement that
depository institutions file biennial renewals for Phase II
customer exemptions duplicates the required annual review of
such exemptions and discourages the use of some exemptions.
(5) The Comptroller General finds that eliminating the
requirement that depository institutions file biennial renewals
for Phase II customer exemptions could increase the use of such
exemptions and reduce the burden associated with filing
unnecessary cash transaction reports.
(6) The Comptroller General recommends eliminating the
requirement that depository institutions biennially renew Phase
II exemptions.
(7) The Comptroller General finds that the cash
transactions of government entities and depository institutions
are likely of little or no use to law enforcement efforts and
that cash transaction reports related to these entities are
unnecessary.
(8) The Comptroller General finds that, although the
amendments made to chapter 53 of title 31, United States Code,
by the Money Laundering Suppression Act of 1994 required the
Secretary of the Treasury to exempt depository institutions
from filing cash transaction reports on the transactions of
government entities and depository institutions and did not
explicitly require the filing of exemption forms or annual
review of such information with respect to the exempt entities
to effectuate any such exemption, the regulations prescribed by
the Secretary nonetheless require depository institutions to
file such exemption forms and annual reviews.
(9) The Comptroller General finds that the requirement that
depository institutions file forms to exempt government
entities and depository institutions, and conduct annual
reviews of related information, discourages the use of such
exemptions and creates cash transaction reports that are of
little or no value to law enforcement efforts.
(10) The Comptroller General recommends eliminating the
requirement that depository institutions file exemption forms
and annually review the supporting information for government
entities and depository institutions.
(11) The Comptroller General finds that requiring
depository institutions to wait 12 months before exempting
certain customers with large numbers of cash transactions may
needlessly create cash transaction reports that are not highly
useful to law enforcement efforts.
(12) The Comptroller General finds that allowing depository
institutions to exempt clients with frequent cash transactions
within a time period of less than a year could avoid the filing
of unnecessary cash transaction reports.
(13) The Comptroller General recommends considering a
change in requirements to allow depository institutions to
exempt otherwise-eligible customers with frequent large cash
transactions within a period of time shorter than 12 months.

SEC. 3. EXCEPTION FROM CURRENCY TRANSACTION REPORTS FOR SEASONED
CUSTOMERS.

Section 5313(e) of title 31, United States Code, is amended to read
as follows:
''(e) Qualified Customer Exemption.--
''(1) In general.--Before the end of the 270-day period
beginning on the date of the enactment of the Seasoned Customer
CTR Exemption Act of 2008, the Secretary of the Treasury shall
prescribe regulations that exempt any depository institution
from filing a report pursuant to this section after the
effective date of such regulations in connection with a
transaction for the payment, receipt, or transfer of United
States coins or currency (or other monetary instruments the
Secretary of the Treasury prescribes) with a qualified customer
of the depository institution.
''(2) Qualified customer defined.--For purposes of this
section, the term 'qualified customer', with respect to a
depository institution, has such meaning as the Secretary of
the Treasury shall prescribe, which shall include any person
that--
''(A) is incorporated or organized under the laws
of the United States or any State, including a sole
proprietorship (as defined in 31 CFR 103.22(d)(6)(vii),
as in effect on January 4, 2007), or is registered as
and eligible to do business within the United States or
a State; and
''(B) has maintained a deposit account with the
depository institution for at least 2 months, or has
engaged, using such an account, in multiple currency
transactions that are subject to the reporting
requirements of subsection (a).
''(3) Regulations.--
''(A) In general.--The Secretary of the Treasury
shall prescribe regulations requiring a depository
institution to file a 1-time notice of designation of
exemption for each qualified customer of the depository
institution.
''(B) Form and content of exemption notice.--The
Secretary shall by regulation prescribe the form,
manner, content, and timing of the qualified customer
exemption notice and such notice shall include
information sufficient to identify the qualified
customer and the accounts of the customer.
''(C) Authority of secretary.--
''(i) In general.--The Secretary may
suspend, reject, or revoke any qualified
customer exemption notice, in accordance with
criteria prescribed by the Secretary by
regulation.
''(ii) Conditions.--The Secretary may
establish conditions, in accordance with
criteria prescribed by regulation, under which
exempt qualified customers of an insured
depository institution that is merged with or
acquired by another insured depository
institution will continue to be treated as
designated exempt qualified customers of the
surviving or acquiring institution.''.

SEC. 4. EXCEPTION FROM CURRENCY TRANSACTION REPORTS FOR GOVERNMENT
ENTITIES, DEPOSITORY INSTITUTIONS, AND CERTAIN OTHER
FINANCIAL INSTITUTIONS.

(a) In General.--Section 5313(d) of title 31, United States Code,
is amended to read as follows:
''(d) Mandatory Exemptions From Reporting Requirements.--
''(1) In general.--Upon enactment of the Seasoned Customer
CTR Exemption Act of 2008, the Secretary of the Treasury shall
exempt, pursuant to section 5318(a)(6), a depository
institution from the reporting requirements of subsection (a),
without requiring the depository institution to file a notice
of designation of exemption or to annually review the
information supporting the exemption, with respect to
transactions between the depository institution and the
following categories of entities:
''(A) Another depository institution.
''(B) A department or agency of the United States,
any State, or any political subdivision of any State.
''(C) Any entity established under the laws of the
United States, any State, or any political subdivision
of any State, or under an interstate compact between 2
or more States, which exercises governmental authority
on behalf of the United States, the State, or the
political subdivision.
''(D) Any entity, other than a bank, whose common
stock or analogous equity interests are listed on the
New York Stock Exchange or the American Stock Exchange
or whose common stock or analogous equity interests
have been designated as a Nasdaq National Market
Security listed on the Nasdaq Stock Market (except
stocks or interests listed under the separate 'Nasdaq
Small-Cap Issues' heading), except that, for purposes
of this subparagraph, a person that is a financial
institution, other than a bank, is an exempt person
only to the extent of such institution's domestic
operations.
''(E) Any subsidiary, other than a bank, of any
entity described in subparagraph (D) that is organized
under the laws of the United States or of any State and
at least 51 percent of whose common stock or analogous
equity interest is owned by the listed entity, except
that, for purposes of this subparagraph, a person that
is a financial institution, other than a bank, is an
exempt person only to the extent of such institution's
domestic operations.
''(F) Any business or category of business the
reports on which have little or no value for law
enforcement purposes.
''(2) Notice of exemption.--The Secretary of the Treasury
shall publish in the Federal Register at such times as the
Secretary determines to be appropriate (but not less frequently
than once each year) a list of all the entities whose
transactions with a depository institution are exempt under
this subsection from the reporting requirements of subsection
(a).''.
(b) Election To Report Notwithstanding Exemption.--Section 5313(f)
of title 31, United States Code, is amended by adding at the end the
following new paragraph:
''(3) Depository institution elections.--A depository
institution may elect to report a transaction that would
otherwise qualify for an exemption under subsection (d) or (e),
and a depository institution that makes such an election shall
not be subject to any penalty, liability, enforcement remedy,
or supervisory criticism for such reporting.''.
(c) Technical and Conforming Amendment.--The heading for subsection
(f) of section 5313 of title, United States Code, is amended by
striking ''Mandatory and Discretionary''.
answer:
Seasoned Customer CTR Exemption Act of 2008 - Amends federal money and finance law to: (1) repeal certain discretionary exemptions of depository institutions from currency transaction reporting (CTR) requirements; and (2) instruct the Secretary of the Treasury to prescribe regulations that exempt any depository institution from filing certain mandatory reports of currency transactions with a qualified customer.

Defines qualified customer as any person that: (1) is incorporated or organized under federal or state law, including a sole proprietorship, or is registered as and eligible to do business within the United States or a state; and (2) has maintained a deposit account with the depository institution for at least two months, or has engaged, using such account, in multiple currency transactions subject to federal CTR requirements.

Requires such regulations to require a depository institution to file a one-time notice of designation of exemption for each of its qualified customers.

Authorizes the Secretary to: (1) suspend, reject, or revoke any qualified customer exemption notice; and (2) set conditions under which exempt qualified customers of an insured depository institution that is merged with, or acquired by another insured depository institution, will continue to be treated as designated exempt qualified customers of the surviving or acquiring institution.

Revises certain mandatory exemptions from CTR requirements. Requires the Secretary to exempt a depository institution from domestic CTR requirements without requiring the depository institution to either file a notice of designation of exemption, or to annually review the information supporting the exemption, with respect to transactions between the depository institution and specified categories of entities.

Specifies additions to such categories of entities.

Permits a depository institution to elect to report such exempted transactions without being subject to any penalty, liability, enforcement remedy, or supervisory criticism for such reporting.