Given the task definition, example input & output, solve the new input case.
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: SECTION 1. LIABILITY OF BUSINESS ENTITIES PROVIDING USE OF FACILITIES
TO NONPROFIT ORGANIZATIONS.

(a) Definitions.--In this section:
(1) Business entity.--The term ''business entity'' means a
firm, corporation, association, partnership, consortium, joint
venture, or other form of enterprise.
(2) Facility.--The term ''facility'' means any real
property, including any building, improvement, or appurtenance.
(3) Gross negligence.--The term ''gross negligence'' means
voluntary and conscious conduct by a person with knowledge (at
the time of the conduct) that the conduct is likely to be
harmful to the health or well-being of another person.
(4) Intentional misconduct.--The term ''intentional
misconduct'' means conduct by a person with knowledge (at the
time of the conduct) that the conduct is harmful to the health
or well-being of another person.
(5) Nonprofit organization.--The term ''nonprofit
organization'' means--
(A) any organization described in section 501(c)(3)
of the Internal Revenue Code of 1986 and exempt from
tax under section 501(a) of such Code; or
(B) any not-for-profit organization organized and
conducted for public benefit and operated primarily for
charitable, civic, educational, religious, welfare, or
health purposes.
(6) State.--The term ''State'' means each of the several
States, the District of Columbia, the Commonwealth of Puerto
Rico, the Virgin Islands, Guam, American Samoa, the Northern
Mariana Islands, any other territory or possession of the
United States, or any political subdivision of any such State,
territory, or possession.
(b) Limitation on Liability.--
(1) In general.--Subject to subsection (c), a business
entity shall not be subject to civil liability relating to any
injury or death occurring at a facility of the business entity
in connection with a use of such facility by a nonprofit
organization if--
(A) the use occurs outside of the scope of business
of the business entity;
(B) such injury or death occurs during a period
that such facility is used by the nonprofit
organization; and
(C) the business entity authorized the use of such
facility by the nonprofit organization.
(2) Application.--This subsection shall apply--
(A) with respect to civil liability under Federal
and State law; and
(B) regardless of whether a nonprofit organization
pays for the use of a facility.
(c) Exception for Liability.--Subsection (b) shall not apply to an
injury or death that results from an act or omission of a business
entity that constitutes gross negligence or intentional misconduct,
including any misconduct that--
(1) constitutes a crime of violence (as that term is
defined in section 16 of title 18, United States Code) or act
of international terrorism (as that term is defined in section
2331 of title 18) for which the defendant has been convicted in
any court;
(2) constitutes a hate crime (as that term is used in the
Hate Crime Statistics Act (28 U.S.C. 534 note));
(3) involves a sexual offense, as defined by applicable
State law, for which the defendant has been convicted in any
court; or
(4) involves misconduct for which the defendant has been
found to have violated a Federal or State civil rights law.
(d) Superseding Provision.--
(1) In general.--Subject to paragraph (2) and subsection
(e), this Act preempts the laws of any State to the extent that
such laws are inconsistent with this Act, except that this Act
shall not preempt any State law that provides additional
protection from liability for a business entity for an injury
or death with respect to which conditions under subparagraphs
(A) through (C) of subsection (b)(1) apply.
(2) Limitation.--Nothing in this Act shall be construed to
supersede any Federal or State health or safety law.
(e) Election of State Regarding Nonapplicability.--This Act shall
not apply to any civil action in a State court against a business
entity in which all parties are citizens of the State if such State
enacts a statute--
(1) citing the authority of this subsection;
(2) declaring the election of such State that this Act
shall not apply to such civil action in the State; and
(3) containing no other provision.
Output: Shields a business entity from civil liability relating to any injury or death occurring at a facility of that entity in connection with a use of such facility by a nonprofit organization if: (1) the use occurs outside the scope of business of the business entity; (2) such injury or death occurs during a period that such facility is used by such organization; and (3) the business entity authorized the use of such facility by the organization.
Makes this Act inapplicable to an injury or death that results from an act or omission of a business entity that constitutes gross negligence or intentional misconduct, including misconduct that: (1) constitutes a hate crime or a crime of violence or act of international terrorism for which the defendant has been convicted in any court; or (2) involves a sexual offense for which the defendant has been convicted in any court or misconduct for which the defendant has been found to have violated a Federal or State civil rights law.
Preempts State laws to the extent that such laws are inconsistent with this Act, except State law that provides additional protection from liability. Specifies that this Act shall not be construed to supersede any Federal or State health or safety law.
Makes this Act inapplicable to any civil action in a State court against a business entity in which all parties are citizens of the State if such State, citing this Act's authority and containing no other provision, enacts a statute declaring the State's election that this Act shall not apply to such action in the State.
This Bill focuses on shielding business entities from civil liability relating to an injury or death depending on the conditions of injury, hence the generated summary is correct.

New input case for you: SECTION 1. SHORT TITLE; DEFINITIONS.

(a) Short Title.--This Act may be cited as the ''Online Investor
Protection Act of 1999''.
(b) Definitions.--In this Act--
(1) the term ''Commission'' means the Securities and
Exchange Commission;
(2) the term ''Internet'' means the international computer
network of both Federal and non-Federal interoperable packet
switched data networks;
(3) the term ''interactive computer service'' means any
information service, system, or access software provider that
provides or enables computer access by multiple users to a
computer server, including specifically a service or system
that provides access to the Internet and such systems operated
or services offered by libraries or educational institutions;
(4) the term ''investment adviser'' has the same meaning as
in section 202 of the Investment Advisers Act of 1940;
(5) the term ''investment company'' has the same meaning as
in section 3 of the Investment Company Act of 1940;
(6) the term ''registered broker or dealer'' has the same
meaning as in section 3 of the Securities Exchange Act of 1934;
and
(7) the term ''retail investor'' means--
(A) any investor other than an accredited investor
(as defined in section 2(a)(15) of the Securities Act
of 1933); and
(B) any other similar person or class of persons,
as the Commission determines to be appropriate.

SEC. 2. ONLINE TRADING DISCLOSURES.

The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) is
amended by inserting after section 35A the following:

''SEC. 35B. ONLINE TRADING DISCLOSURES.

''(a) In General.--Each online broker or dealer shall, on a
quarterly basis, make available on the Internet or other interactive
computer service, such information as the Commission may require, by
rule or order, taking into account the needs of customers, and in such
format and within such time periods as the Commission may prescribe
regarding--
''(1) the date, time, and duration of any system outage or
other event that prevented or materially delayed the execution
of online securities transactions during the preceding quarter;
''(2) any steps taken to address or prevent such outages or
events; and
''(3) information regarding limiting risk of loss to
securities investors that is unique to online trading, as
required by the Commission, by rule or order.
''(b) Exceptions.--The Commission, by rule or order, may exempt
from the requirements of subsection (a) any online broker or dealer, or
class of online brokers or dealers, as the Commission determines to be
appropriate.
''(c) Definitions.--In this section--
''(1) the term 'Internet' means the international computer
network of both Federal and non-Federal interoperable packet
switched data networks;
''(2) the term 'interactive computer service' means any
information service, system, or access software provider that
provides or enables computer access by multiple users to a
computer server, including specifically a service or system
that provides access to the Internet and such systems operated
or services offered by libraries or educational institutions;
''(3) the term 'online broker or dealer' means any broker
or dealer that provides retail investors with a means to effect
securities transactions over the Internet or an interactive
computer service;
''(4) the term 'online securities transaction' means a
securities transaction effected between a retail investor and
an online broker or dealer over the Internet or an interactive computer
service; and
''(5) the term 'retail investor' means--
''(A) any customer of an online broker or dealer,
other than an accredited investor (as defined in
section 2(a)(15) of the Securities Act of 1933); and
''(B) any other similar person or class of persons,
as the Commission determines to be appropriate, by rule
or order.''.

SEC. 3. EXTENDING DISCIPLINARY DISCLOSURES TO THE INTERNET.

(a) In General.--Section l5A of the Securities Exchange Act of 1934
(15 U.S.C. 78o-3) is amended by striking subsection (i) and inserting
the following:
''(i) Obligation To Maintain Disciplinary and Other Data.--
''(1) Maintenance of system to respond to inquiries.--A
registered securities association shall--
''(A) establish and maintain a toll-free telephone
listing or other readily accessible electronic process
to receive inquiries regarding disciplinary actions and
proceedings and other information involving its members
and associated persons of those members; and
''(B) promptly respond to such inquiries.
''(2) Recovery of costs.--A registered securities
association may charge persons, other than individual
investors, reasonable fees for responses to inquiries referred
to in paragraph (1).
''(3) Limitation on liability.--A registered securities
association shall not have any liability to any person for any
action taken or omitted in good faith under this subsection.''.
(b) Records and Reports of Investment Advisers.--Section 204 of the
Investment Advisers Act of 1940 (15 U.S.C. 80b-4) is amended--
(1) by striking ''Every investment'' and inserting the
following:
''(a) In General.--Every investment''; and
(2) by adding at the end the following:
''(b) Filing Depositories.--The Commission, by rule or order, may
require an investment adviser--
''(1) to file with the Commission any fee, application,
report, or notice required to be filed by this title or the
rules issued under this title through any entity designated by
the Commission for that purpose; and
''(2) to pay the reasonable costs associated with such
filing and the establishment and maintenance of the systems
required by subsection (c).
''(c) Access to Disciplinary and Other Information.--
''(1) Maintenance of system to respond to inquiries.--The
Commission shall require an entity designated by the Commission
pursuant to subsection (b)(1)--
''(A) to establish and maintain a toll-free
telephone listing or other readily accessible
electronic process to receive inquiries regarding
disciplinary actions and proceedings and other
information involving investment advisers and persons
associated with investment advisers; and
''(B) to respond promptly to such inquiries.
''(2) Recovery of costs.--An entity designated under
subsection (b)(1) may charge persons, other than individual
investors, reasonable fees for responses to inquiries referred
to in paragraph (1).
''(3) Limitation on liability.--An entity designated under
subsection (b)(1) shall not have any liability to any person
for any action taken or omitted in good faith under this
subsection.''.
(c) Conforming Amendments.--
(1) In general.--Section 203A of the Investment Advisers
Act of 1940 (15 U.S.C. 80b-3a) is amended--
(A) by striking subsection (d); and
(B) by redesignating subsection (e) as subsection
(d).
(2) Repeal.--Section 306 of the National Securities Markets
Improvement Act of 1996 (Public Law 104-290; 110 Stat. 3438) is
repealed.

SEC. 4. ELECTRONIC ACCESS TO COMMISSION INFORMATION.

(a) Electronic Links.--Not later than 1 year after the date of
enactment of this Act, each broker or dealer, investment company, and
investment adviser that effects securities transactions with retail
investors, or makes securities market information available to retail
investors for the purpose of effecting such transactions over the
Internet or other interactive computer service, shall provide to those
investors information regarding investor education and fraud prevention
provided by the Commission, through a hypertext link to a Commission
website established for that purpose, or in such other manner as may be
prescribed by the Commission.
(b) Regulatory Action.--The Commission shall issue final
regulations to implement this section not later than 6 months after the
date of enactment of this Act.

SEC. 5. CIVIL PENALTIES FOR INTERNET-RELATED VIOLATIONS.

(a) Securities Act of 1933.--Section 20(d)(2) of the Securities Act
of 1933 (15 U.S.C. 77t(d)(2)) is amended by adding at the end the
following:
''(D) Internet-related violations.--In any case in
which the Internet or other interactive computer
service (as defined in section 35B of the Securities
Exchange Act of 1934) is used as part of the Act or
omission resulting in a violation referred to in
paragraph (1) the amount of the penalty provided for in
this paragraph shall be doubled.''.
(b) Securities Exchange Act of 1934.--
(1) Section 21.--Section 21(d)(3)(B) of the Securities
Exchange Act of 1934 (15 U.S.C. 78u(d)(3)(B)) is amended by
adding at the end the following:
''(iv) Internet-related violations.--In any
case in which the Internet or other interactive
computer service (as defined in section 35B) is used as part of the act
or omission resulting in a violation referred to in subparagraph (A),
the amount of the penalty provided for in this subparagraph shall be
doubled.''.
(2) Section 21b.--Section 21B(b) of the Securities Exchange
Act of 1934 (15 U.S.C. 78u-2(b)) is amended by adding at the
end the following:
''(4) Internet-related violations.--In any case in which
the Internet or other interactive computer service (as defined
in section 35B) is used as part of the act or omission
resulting in a violation referred to in subsection (a), the
amount of the penalty provided for in this subsection shall be
doubled.''.
(c) Investment Advisers Act of 1940.--
(1) Section 203.--Section 203(i)(2) of the Investment
Advisers Act of 1940 (15 U.S.C. 80b-3(i)(2)) is amended by
adding at the end the following:
''(D) Internet-related violations.--In any case in
which the Internet or other interactive computer
service (as defined in section 35B of the Securities
Exchange Act of 1934) is used as part of the act or
omission resulting in a violation referred to in
paragraph (1), the amount of the penalty provided for
in this paragraph shall be doubled.''.
(2) Section 209.--Section 209(e)(2) of the Investment
Advisers Act of 1940 (15 U.S.C. 80b-9(e)(2)) is amended by
adding at the end the following:
''(D) Internet-related violations.--In any case in
which the Internet or other interactive computer
service (as defined in section 35B of the Securities
Exchange Act of 1934) is used as part of the act or
omission resulting in a violation referred to in
paragraph (1), the amount of the penalty provided for
in this paragraph shall be doubled.''.
(d) Investment Company Act of 1940.--Section 9(d)(2) of the
Investment Company Act of 1940 (15 U.S.C. 80a-9(d)(2)) is amended by
adding at the end the following:
''(D) Internet-related violations.--In any case in
which the Internet or other interactive computer
service (as defined in section 35B of the Securities
Exchange Act of 1934) is used as part of the act or
omission resulting in a violation referred to in
paragraph (1), the amount of the penalty provided for
in this paragraph shall be doubled.''.

SEC. 6. STUDY AND REPORT ON MARKET IMPACT OF ONLINE TRADING.

(a) Study.--The Commission shall conduct a study of the effects
that trading in securities by retail investors over the Internet or
other interactive computer service has on the securities markets,
including--
(1) with respect to ''day trading'' activities--
(A) whether a greater risk of fraud exists;
(B) whether such trading results in market
volatility;
(C) the effects on individual companies, the stock
of which fluctuates as a result of such volatility, if
any; and
(D) the effects on investors and their investment
patterns resulting from such volatility, if any; and
(2) the quality of execution received through online
trading services, including the effect of ''payment for order
flow'' and other practices on--
(A) the promptness of execution; and
(B) the purchase or sale price obtained for the
retail investor.
(b) Report.--Not later than 1 year after the date of enactment of
this Act, the Commission shall submit to the Congress a report on the
results of its study under subsection (a).

SEC. 7. AUTHORIZATION OF APPROPRIATIONS.

There is authorized to be appropriated to the Office of Internet
Enforcement of the Securities and Exchange Commission $70,000,000 for
each of fiscal years 2000 through 2004, for the purpose of Internet
enforcement and other related investor protection activities, subject
to appropriations Acts.
Output:
Amends the Investment Advisers Act of 1940 to: (1) authorize the SEC to require an investment adviser to file requisite fees and documents with an SEC designee; and (2) require the SEC to require a designee to establish and maintain a readily accessible electronic process to receive inquiries regarding disciplinary actions and proceedings regarding its members.
Sets a deadline for brokers, dealers, investment companies, and investment advisers engaged in retail transactions to make available to retail investors through a hypertext link to an SEC website access to SEC information regarding investor education and fraud prevention.
Amends the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Advisers Act of 1940 to double the civil penalty for Internet-related violations.
Directs the SEC to study and report to Congress on the market impact of online trading.
Authorizes appropriations to the SEC Office of Internet Enforcement for investor protection activities.