SECTION 1. SHORT TITLE. This Act may be cited as the ``Truck Safety Act''. SEC. 2. MINIMUM AMOUNTS. (a) Transporting Property.-- (1) In general.--Section 31139(b) of title 49, United States Code, is amended-- (A) in paragraph (2), by striking ``$750,000'' and inserting ``$1,500,000''; and (B) by adding at the end the following: ``(3) The minimum level of financial responsibility under paragraph (2) shall be adjusted annually by the Secretary to reflect changes in the Consumer Price Index--All Urban Consumers.''. (2) Effective date.--The amendments made by paragraph (1) shall take effect 1 year after the date of enactment of this Act. (b) Rulemaking.--The Secretary of Transportation, by regulation, shall increase any minimum level of financial responsibility required under section 31138 or section 31139 if, after an opportunity for notice and comment, the Secretary determines that the current amount is insufficient to satisfy liability amounts covering the claims described in section 31138 or section 31139, as applicable. SEC. 3. COLLISION AVOIDANCE TECHNOLOGIES. (a) In General.--Not later than 24 months after the date of enactment of this Act, the Secretary of Transportation shall initiate a rulemaking to establish a Federal motor vehicle safety standard requiring a motor vehicle with a gross vehicle weight rating greater than 26,000 pounds be equipped with crash avoidance and mitigation systems, such as forward collision warning systems, forward collision automatic braking systems, and lane departure warning systems. (b) Performance and Standards.--The regulations prescribed under subsection (a) shall establish performance requirements and standards to prevent collisions with moving vehicles and stopped vehicles. (c) Effective Date.--The Secretary shall issue a final rule not later than 2 years after the date of enactment of this Act, and the regulations prescribed by the Secretary under this section shall take effect 2 years after the date of publication of the final rule. SEC. 4. SPEED LIMITING DEVICES. Not later than 1 year after the date of enactment of this Act, the Secretary of Transportation shall finalize regulations to require a motor vehicle with a gross vehicle weight rating greater than 26,000 pounds to be equipped with an electronic control module requiring the speed to be set at no more than 70 miles per hour by the manufacturer. SEC. 5. HIGH-RISK CARRIER COMPLIANCE REVIEWS. (a) High-Risk Carrier Compliance Reviews.--Section 31104(b) of title 49, United States Code, is amended by adding at the end the following: ``From the funds authorized by this subsection, the Secretary shall ensure that a review is completed on each motor carrier that demonstrates through performance data that it poses the highest safety risk. At a minimum, a review shall be conducted whenever a motor carrier is among the highest risk carriers for 2 consecutive months.''. (b) Report.--Not later than 180 days after the date of enactment of this Act, the Secretary of Transportation shall transmit to Congress a report on the actions the Secretary has taken to comply with the review requirement under section 31104(b) of title 49, United States Code, as amended, including the number of high-risk motor carriers identified and the high-risk motor carriers reviewed. (c) Conforming Amendment.--Section 4138 of the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (49 U.S.C. 31144 note) is repealed. SEC. 6. DRIVER COMPENSATION. (a) In General.--Chapter 311 of title 49, United States Code, is amended by inserting after section 31139 the following: ``Sec. 31140. Driver compensation ``(a) In General.--The Secretary of Transportation by regulation shall require that a motor carrier-- ``(1) track the on-duty (not driving) time of an employee whose base compensation is calculated in a manner other than an hourly wage and who is required to keep a record of duty status under the hours of service regulations prescribed by the Secretary; and ``(2) separately compensate the employee for any on-duty (not driving) time period at an hourly rate not less than the Federal minimum wage rate under section 6 of the Fair Labor Standards Act of 1938 (29 U.S.C. 206). ``(b) Limitation.--This section shall not apply to an employee whose employment is governed by a collective bargaining agreement, negotiated by employee representatives certified as bona fide by the National Labor Relations Board, if the agreement governs, and compensates the employee for all hours of on-duty (not driving) time. ``(c) Rule of Construction.--Nothing in this section or regulations adopted under this section shall affect an employer's obligations under the Fair Labor Standards Act of 1938 (29 U.S.C. 201 et seq.). Compensation of employees under this section and regulations promulgated under this section shall be in addition to other compensation calculated for purposes of determining compliance with the Fair Labor Standards Act of 1938 (29 U.S.C. 201 et seq.).''. (b) Conforming Amendment.--The table of contents of chapter 311 of title 49, United States Code, is amended by inserting after the item relating to section 31139 the following: ``31140. Driver compensation.''. SEC. 7. STUDY ON COMMERCIAL MOTOR VEHICLE DRIVER COMMUTING. (a) Effects of Excessive Commuting.--The Administrator of the Federal Motor Carrier Safety Administration shall conduct a study of the effects of excessive commuting on safety and commercial motor vehicle driver fatigue. (b) Study.--In conducting the study, the Administrator shall consider-- (1) the prevalence of excessive driver commuting in the commercial motor vehicle industry, including the number and percentage of drivers who commute; (2) the distances traveled, time zones crossed, time spent commuting, and methods of transportation used; (3) research on the impact of excessive commuting on safety and commercial motor vehicle driver fatigue; (4) the commuting practices of commercial motor vehicle drivers and policies of motor carriers; (5) the Federal Motor Carrier Safety Administration regulations, policies, and guidance regarding excessive driver commuting; and (6) any other matters the Administrator considers appropriate. (c) Report.--Not later than 18 months after the date of enactment of this Act, the Administrator shall submit to Congress a report containing its findings under the study and any recommendations for regulatory or administrative action concerning excessive driver commuting.

Summary: Truck Safety Act This bill increases from $750,000 to $1.5 million (adjusted annually for inflation) the minimum level of financial responsibility required to satisfy liability covering public liability, property damage, and environmental restoration for the transportation of property by a commercial motor carrier in the United States or to a place outside the United States. The Department of Transportation (DOT) must increase, by regulation, the minimum level of financial responsibility for transporting property or passengers if the current amount is insufficient to satisfy liability claims. DOT shall initiate a rulemaking to establish a federal motor vehicle safety standard requiring a motor vehicle with a gross vehicle weight rating greater than 26,000 pounds to be equipped with crash avoidance and mitigation systems. DOT shall finalize regulations to require such a motor vehicle also to be equipped with an electronic control module requiring the speed to be set by the manufacturer at a maximum 70 m.p.h. DOT must ensure that a review is completed on each motor carrier that demonstrates through performance data that it poses the highest safety risk, especially whenever it is among the highest risk carriers for two consecutive months. DOT shall require, with respect to driver compensation, that a motor carrier: track the on-duty (not driving) time of an employee whose base compensation is calculated in a manner other than an hourly wage and who is required to keep a record of duty status under the hours of service regulations; and separately compensate the employee for any on-duty (not driving) time period at an hourly rate not less than the federal minimum wage rate under the Fair Labor Standards Act of 1938. This compensation requirement, however, shall not apply where employment is governed by a collective bargaining agreement, negotiated by bona fide employee representatives, if the agreement governs, and compensates the employee for, all hours of on-duty (not driving) time. The Federal Motor Carrier Safety Administration shall study the effects of excessive commuting on safety and commercial motor vehicle driver fatigue.


SECTION 1. RESERVE FORCES PARTICIPATION CREDIT. (a) In General.--Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to business-related credits) is amended by adding at the end the following new section: ``SEC. 45C. RESERVE FORCES PARTICIPATION CREDIT. ``(a) General Rule.--For purposes of section 38, the reserve forces participation credit determined under this section is an amount equal to the sum of-- ``(1) the aggregate of the employment credits with respect to qualified employees of a taxpayer, plus ``(2) if the taxpayer is a qualified self-employed taxpayer, the self-employment credit. ``(b) Employment Credit.--For purposes of this section-- ``(1) In general.--The employment credit with respect to a qualified employee of a taxpayer for any taxable year is an amount equal to the lesser of-- ``(A) 50 percent of the amount of qualified compensation that would have been paid to the employee with respect to all periods during which the employee participates in qualified reserve duty to the exclusion of normal employment duties, including time spent in a travel status had the employee not been participating in qualified reserve duty, or ``(B) $2,000. ``(2) Qualified compensation.--The term `qualified compensation' means compensation-- ``(A) which is normally contingent on the employee's presence for work and which would be deductible from the taxpayer's gross income under section 162(a)(1) if the employee were present and receiving such compensation; and ``(B) which is not characterized by the taxpayer as vacation or holiday pay, or as sick leave or pay, or as any other form of pay for a nonspecific leave absence, and with respect to which the number of days the employee participates in qualified reserve duty does not result in any reduction in the amount of vacation time, sick leave, or other nonspecific leave previously credited to or earned by the employee. ``(3) Qualified employee.--The term `qualified employee' means a person who-- ``(A) has been a full-time employee of a taxpayer for the 21-day period immediately preceding the period during which the employee participates in qualified reserve duty, and ``(B) is a member of the Ready Reserve of a reserve component of an Armed Force of the United States. ``(4) Credit in addition to deduction.--The employment credit provided in this section is in addition to any deduction otherwise allowable with respect to compensation actually paid to a qualified employee during any period the employee participates in qualified reserve duty to the exclusion of normal employment duties. ``(c) Self-Employment Credit.-- ``(1) In general.--In the case of a qualified self-employed taxpayer, the self-employment credit for any taxable year is equal to 50 percent of the excess (if any) of-- ``(A) the taxpayer's average daily self-employment income for the taxable year over ``(B) the average daily military pay and allowances received by the taxpayer during the taxable year while participating in qualified reserve duty to the exclusion of the taxpayer's normal self-employment duties for the number of days the taxpayer participates in qualified reserve duty during the taxable year, including time spent in a travel status. ``(2) Average daily self-employment income and average daily military pay and allowances.--As used with respect to a self-employed taxpayer-- ``(A) Average daily self-employment income.--The term `average daily self-employment income' means the net earnings from self-employment (as defined in section 1402) of the taxpayer for the taxable year divided by the difference between-- ``(i) 365, and ``(ii) the number of days the taxpayer participates in qualified reserve duty during the taxable year, including time spent in a travel status. ``(B) Average daily military pay and allowances.-- The term `average daily military pay and allowances' means-- ``(i) the amount paid to the taxpayer during a taxable year as military pay on account of the taxpayer's participation in qualified reserve duty, divided by ``(ii) the total number of days the taxpayer participates in qualified reserve duty, including, if applicable, time spent in travel status. ``(3) Qualified self-employed taxpayer.--The term `qualified self-employed taxpayer' means a taxpayer who-- ``(A) has net earnings from self-employment (as defined in section 1402) for the taxable year, and ``(B) is a member of the Ready Reserve of a reserve component of an Armed Force of the United States. ``(d) Limitations.-- ``(1) Maximum credit.--The credit determined under subsection (a) for the taxable year shall not exceed $7,500. ``(2) Disallowance for failure to comply with employment or reemployment rights of members of the reserve components of the armed forces of the united states.--No credit shall be allowed by reason of subsection (a) to a taxpayer for-- ``(A) any taxable year in which the taxpayer complies with a final order, judgment, or other process issued or required by a district court of the United States under section 4323 of title 38 of the United States Code with respect to a violation of chapter 43 of such title, and ``(B) the two succeeding taxable years. ``(3) Disallowance with respect to persons ordered to active duty for training.--No credit shall be allowed by reason of subsection (a) to a taxpayer with respect to any period for which the person on whose behalf the credit would otherwise be allowable is called or ordered to active duty for any of the following types of duty-- ``(A) active duty for training under any provision of title 10 of the United States Code; ``(B) training at encampments, maneuvers, outdoor target practice, or other exercises under chapter 5 of title 32, United States Code; or ``(C) full-time National Guard duty, as defined in section 101(d)(5) of title 10, United State Code. ``(e) General Definitions.-- ``(1) Military pay and allowances.--The term `military pay' means pay as that term is defined in section 101(21) of title 37, United States Code, and the term `allowances' means the allowances payable to a member of the Armed Forces of the United States under chapter 7 of that title. ``(2) Qualified reserve duty.--The term `qualified reserve duty' includes only active duty performed in support of, as designated in the reservist's military orders, a contingency operation as defined in section 101(a)(13), of title 10, United States Code. ``(3) Normal employment and self-employment duties.--A person shall be deemed to be participating in qualified reserve duty to the exclusion of normal employment or self-employment duties if the person does not engage in or undertake any substantial activity related to the person's normal employment or self-employment duties while participating in qualified reserve duty unless in an authorized leave status or other authorized absence form military duties. If a person engages in or undertakes any substantial activity related to the person's normal employment or self-employment duties at any time while participating in a period of qualified reserve duty, unless during a period of authorized leave or other authorized absence from military duties, the person shall be deemed to have engaged in or undertaken such activity for the entire period of qualified reserve duty. ``(f) Controlled groups.--All persons treated as a single employer under subsection (a) or (b) of section 52 shall be treated as a single employer for purposes of this section.'' (b) Credit to be Part of General Business Credit.--Subsection (b) of section 38 of such Code (relating to general business credit) is amended-- (1) by striking ``plus'' at the end of paragraph (10); (2) by striking the period at the end of paragraph (11) and inserting ``, plus''; and (3) by adding at the end the following new paragraph: ``(12) the reserve forces participation credit determined under section 45C(a).''. (c) Clerical Amendment.--The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item: ``Sec. 45C. Reserve forces participation credit.''. (d) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 1995.

Summary: Amends the Internal Revenue Code to allow a tax credit to employers of members of reserve components of the armed forces and to self-employed individuals who are members of such reserve components.


SECTION 1. SHORT TITLE. This Act may be cited as the ``Small Business Health Plans Act of 2006''. SEC. 2. SMALL BUSINESS HEALTH BENEFITS PROGRAM (SBHBP). (a) Establishment.--The Secretary of Health and Human Services shall establish a small business health benefits program under which small employers may offer health insurance coverage to employees and their dependents. (b) Program Elements.--Under the SBHBP: (1) Access to insurance.--Small employers are provided access, for years beginning on or after January 1, 2007, to qualified health pooling arrangements under which their employees may elect self-only or family health insurance coverage under at least 2 health insurance coverage policies, regardless of whether premium assistance referred to in paragraph (2) is available with respect to such employer. (2) Premium assistance for small employers.--Premium assistance is available under subsection (c) to assist small employers in the payment of premiums for the health insurance coverage provided. (3) Employer share of premiums.-- (A) In general.--Small employers are provided access to health insurance coverage, and may be eligible for premium assistance under subsection (c), only if they pay (before the application of any premium assistance under subsection (c)) at least 50 percent of the premiums for coverage of their employees, but such employers are not required to pay for the portion of the premiums for dependents of employees. (B) Construction.--Nothing in this section shall be construed as preventing an employee from applying the payment described in subparagraph (A) towards the payment of premiums for family health insurance coverage. (4) Health insurance coverage.-- (A) In general.--Health insurance coverage offered thereunder shall meet the following requirements: (i) The Secretary determines that the coverage is substantially similar to health benefits coverage in any of the four largest health benefit plans (determined by enrollment) offered under chapter 89 of title 5, United States Code. (ii) The coverage complies with State laws and regulations (including applicable benefit mandates and other consumer protections) for group health insurance coverage for the State in which the coverage is offered. (iii) The coverage does not discriminate, through underwriting, the imposition of a pre- existing condition exclusion (as defined in section 701(b)(1)(A) of the Employee Retirement Income Security Act of 1974 or section 9801(b)(1)(A) of the Internal Revenue Code of 1986), differential benefits, differential premiums, or otherwise, against an employee or dependent on the basis of health status. (iv) The Secretary determines that the coverage provided to employees is coordinated, in accordance with regulations prescribed by the Secretary, with other coverage provided under governmental health benefits programs under which health benefits coverage is available to such employees. (B) Standards for participating health insurers.-- In administering the program, the Secretary shall promote participation by health insurers that establish-- (i) integration of health information technology tools to promote quality; (ii) chronic disease management; (iii) preventive health care services; and (iv) evidence-based medicine considerations of prescription drugs and other treatment that take into account the individual medical circumstances of individuals enrolled in the program. (5) Enrollment.--In administering the program, the Secretary shall provide that employee enrollment (and changes in enrollment) are limited to an annual open enrollment period, except in the case of qualifying events (such as change in family status) specified by the Secretary and consistent with section 701(f) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1181(f)). (c) Premium Assistance.--Under the SBHBP, the Secretary shall establish a program of premium assistance for small employers. Such program shall provide for a sliding scale of assistance to such employers taking into account the following: (1) The number of employees of the employer. (2) The average wage level of such employees relative to the average wage level for employees in the same geographic area. (3) The profit margin of the employer. (d) Reinsurance for Catastrophic Costs for Certain Health Insurance Issuers.-- (1) In general.--In the case of health insurance coverage offered under the SBHBP by a health insurance issuer that participates in a qualified health pooling arrangement, the Secretary shall provide for reinsurance coverage for 75 percent of covered claims that exceed, for an individual for a year, an amount determined by the Secretary for such year which is not less than the minimum amount specified in paragraph (2). (2) Minimum amount.--The minimum amount specified in this paragraph is-- (A) for the first year in which this section is in effect, $100,000; or (B) for a subsequent year is the minimum amount specified in this paragraph for a previous year, increased by the Secretary's estimate of the average annual percentage increase in health insurance coverage with a median level of premiums for the previous year. Any amount determined under subparagraph (B) which is not a multiple of $1,000 shall be rounded to the nearest multiple of $1,000. (e) Qualified Health Pooling Arrangement.--For purposes of this section, the term ``qualified health pooling arrangement'' means, with respect to employees employed in any State for any year-- (1) except as provided in subparagraph (B), an arrangement established by (and operating under the oversight of) such State for purposes of this section, in accordance with regulations of the Secretary, which provides for pooling of health insurance coverage offered for such year in such State, and (2) in any case in which there is not in effect for any year an arrangement described in subparagraph (A) established by such State, the national health pooling arrangement established under section 3. The Secretary shall determine, within a reasonable time prior to each year, whether there is a qualified health pooling arrangement described in paragraph (1) with respect to employees employed in any State. (f) Small Employer Defined.-- (1) In general.--For purposes of this Act, except as otherwise provided in this subsection, the term ``small employer'' means an employer with 50 or fewer employees, as determined under regulations promulgated by the Secretary. (2) Continuation of participation.--An employer whose employees are provided health insurance coverage under the SBHBP while the employer is a small employer as defined in paragraph (1) and who thereafter has more than 50 employees shall continue to be treated as a small employer. (3) Employers not in existence in preceding year.--In the case of an employer which was not in existence for the full year prior to the date on which the employer applies to participate in SBHBP, the determination of whether such employer meets the requirements of paragraph (1) shall be based on the average number of employees that it is reasonably expected such employer will employ on business days in the employer's first full year. (4) Waiver.--The Secretary may waive the limitations relating to the size of an employer which may participate under SBHBP on a case by case basis if the Secretary determines that such employer makes a compelling case for such a waiver. In making determinations under this paragraph, the Secretary shall consider the effects of the employment of temporary and seasonal workers and other related factors. (g) Other Definitions.--For purposes of this Act: (1) The terms ``employee'' and ``dependent'' have the meanings given such terms by the Secretary in regulations and shall be based upon the definitions of such terms used for purposes of the Federal employee health benefits program established under chapter 89 of title 5, United States Code. (2) The terms ``health insurance coverage'' and ``health insurance issuer'' have the meanings given such terms in section 2791(b) of the Public Health Service Act (42 U.S.C. 300gg-91(b)). (3) The term ``Secretary'' means the Secretary of Health and Human Services. (4) The term ``SBHBP'' means the small business health benefits program established under this section. (5) The term ``State'' has the meaning given such term in section 2791(d)(14) of the Public Health Service Act (42 U.S.C. 300gg-91(d)(14)). (h) Grants for Establishment of State Qualified Health Pooling Arrangements.-- (1) In general.--The Secretary shall provide grants to States for the establishment and initial administration of qualified health pooling arrangements described in subsection (e)(1). (2) Authorization of appropriations.--There are authorized to be appropriated such sums as may be necessary to carry out this subsection. SEC. 3. ESTABLISHMENT OF NATIONAL HEALTH POOLING ARRANGEMENT. (a) In General.--The Secretary of Health and Human Services and the Secretary of Labor, acting jointly and in consultation with the Director of the Office of Personnel Management, shall provide for-- (1) the offering on a timely basis consistent with section 2 of a national health pooling arrangement to eligible small employers; and (2) appropriate oversight over any such arrangement. (b) Specific Requirements.--In carrying out subsection (a), the Secretaries shall-- (1) model the national health pooling arrangement on the Federal employees health benefits program under chapter 89 of title 5, United States Code, to the extent practicable and consistent with the other requirements of this Act; and (2) consistent with paragraph (1), negotiate the most affordable and substantial coverage possible for small employers. (c) Definitions.--For purposes of this section-- (1) the term ``Secretaries'' means the Secretary of Health and Human Services and the Secretary of Labor; and (2) the term ``national health pooling arrangement'' means an arrangement which provides for pooling of health insurance coverage offered for any year in all States which do not have in effect for such year an arrangement for pooling of health insurance coverage offered in such States.

Summary: Small Business Health Plans Act of 2006 - Directs the Secretary of Health and Human Services (HHS) to establish a small business health benefits program (SBHBP) under which small businesses may offer health insurance coverage to employees and their dependents. Outlines program elements and coverage requirements. Requires the Secretary to establish a program of premium assistance for small employers under the SBHBP. Allows for reinsurance for catastrophic costs for certain health insurance issuers. Defines a "small employer" for SBHBP purposes as an employer with 50 or fewer employees. Directs the Secretary and the Secretary of Labor to provide for the establishment of a national health pooling arrangement for eligible small employers under the SBHBP.


SECTION 1. SHORT TITLE. This Act may be cited as the ``Investment Tax Incentive Act of 1993''. SEC. 2. DEPRECIATION ADJUSTMENT FOR CERTAIN PROPERTY PLACED IN SERVICE IN TAXABLE YEARS BEGINNING AFTER DECEMBER 31, 1992. (a) In General.--Section 168 of the Internal Revenue Code of 1986 (relating to accelerated cost recovery system) is amended by adding at the end thereof the following new subsection: ``(j) Deduction Adjustment To Allow Equivalent of Expensing For Certain Property Placed in Service in Taxable Years Beginning After December 31, 1992.-- ``(1) In general.--In the case of tangible property placed in service in a taxable year beginning after December 31, 1992, the deduction allowable under this section with respect to such property for any taxable year (after the taxable year during which the property is placed in service) shall be-- ``(A) the amount so allowable for such taxable year without regard to this subsection, multiplied by ``(B) the applicable neutral cost recovery ratio for such taxable year. For purposes of subparagraph (A), paragraphs (1) and (2) of section 168(b) shall be applied by substituting `150 percent' for `200 percent'. ``(2) Applicable neutral cost recovery ratio.--For purposes of paragraph (1), the applicable neutral cost recovery ratio for any taxable year is the number determined by-- ``(A) dividing-- ``(i) the gross national product deflator for the calendar quarter ending in such taxable year which corresponds to the calendar quarter during which the property was placed in service by the taxpayer, by ``(ii) the gross national product deflator for the calendar quarter during which the property was placed in service by the taxpayer, and ``(B) then multiplying the number determined under subparagraph (A) by the number equal to 1.035 to the nth power where `n' is the number of full years in the period beginning on the 1st day of the calendar quarter during which the property was placed in service by the taxpayer and ending on the day before the beginning of the corresponding calendar quarter ending during such taxable year. The applicable neutral cost recovery ratio shall not be taken into account unless it is greater than 1. The applicable neutral cost recovery ratio shall be rounded to the nearest one-tenth of 1 percent. ``(3) Gross national product deflator.--For purposes of paragraph (2), the gross national product deflator for any calendar quarter is the implicit price deflator for the gross national product for such quarter (as shown in the first revision thereof). ``(4) Election not to have subsection apply.--This subsection shall not apply to any property if the taxpayer elects not to have this subsection apply to such property. Such an election, once made, shall be irrevocable.'' (b) Minimum Tax Treatment.--Paragraph (1) of section 56(a) of such Code is amended by adding at the end thereof the following new subparagraph: ``(E) Use of Neutral Cost Recovery Ratio.--In the case of tangible property placed in service in a taxable year beginning after December 31, 1992, the deduction allowable under this paragraph with respect to such property for any taxable year (after the taxable year during which the property is placed in service) shall be-- ``(i) the amount so allowable for such taxable year without regard to this subparagraph, multiplied by ``(ii) the applicable neutral cost recovery ratio for such taxable year (as determined under section 168(j)). This subparagraph shall not apply to any property with respect to which there is an election in effect not to have section 168(j) apply.'' (c) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 1992. SEC. 3. REPEAL OF SPECIAL DEPRECIATION RULES APPLICABLE UNDER THE ADJUSTED CURRENT EARNINGS PROVISIONS OF THE MINIMUM TAX. (a) In General.--Subparagraph (A) of section 56(g)(4) of the Internal Revenue Code of 1986 (relating to adjustments) is amended to read as follows: ``(A) Depreciation.-- ``(i) In general.--The depreciation deduction with respect to any property for any taxable year beginning after December 31, 1992, shall be the same as the depreciation deduction allowable in computing alternative minimum taxable income for such taxable year. ``(ii) Basis rules.--Notwithstanding subparagraph (I), the adjusted basis of any depreciable property held by the taxpayer as of the beginning of the taxpayer's first taxable year beginning after December 31, 1992, shall be determined as if the provisions of clause (i) had also applied to taxable years beginning in 1990, 1991, or 1992. ``(iii) Lost basis recovered over 5 years.--The amount determined under clause (iv) shall be allowed as a deduction ratably over the 60-month period beginning with the first month of the taxpayer's first taxable year beginning after December 31, 1992. ``(iv) Amount of lost basis.--The amount determined under this clause is the excess of-- ``(I) the aggregate adjusted bases of depreciable property held by the taxpayer as of the beginning of the taxpayer's first taxable year beginning after December 31, 1992, which would have been determined (as of such time) under subparagraph (I) without regard to clause (ii), over ``(II) the aggregate adjusted bases of such property (as of such time) as determined under the rules of clause (ii).'' (b) Effective Date.--The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 1992.

Summary: Investment Tax Incentive Act of 1993 - Amends the Internal Revenue Code to allow the depreciation deduction to be computed based on a neutral recovery basis for property placed in service after December 31, 1992. Repeals the special depreciation rules applicable under the adjusted current earnings provisions of the minimum tax.


SECTION 1. SHORT TITLE. This Act may be cited as the ``Reclamation Recreation Management Act of 2002''. SEC. 2. AMENDMENTS TO THE FEDERAL WATER PROJECT RECREATION ACT. (a) Congressional Policy.--The first section of the Federal Water Project Recreation Act (16 U.S.C. 460l-12) is amended by striking ``public bodies'' and inserting ``entities''. (b) Allocation of Costs.--Section 2 of the Federal Water Project Recreation Act (16 U.S.C. 460l-13) is amended-- (1) in subsection (a) by striking ``, before authorization of a project,''; (2) in subsection (a), by striking ``public bodies'' and inserting ``entities'' and by striking ``Projects authorized during the calendar year'' and all that follows to the end of the subsection; (3) in subsection (b) by striking ``non-Federal interests'' each place it appears and inserting ``non-Federal entities''; (4) in subsection (b)(2)-- (A) by striking ``: Provided, That the source of repayment may be limited to'' and inserting ``. The source of repayment may include''; and (B) by inserting ``and retained'' after ``collected''; and (5) in subsection (b)(2) by adding at the end the following: ``Fees and charges may be collected, retained and used by the non-Federal entities for operation, maintenance, and replacement of recreation facilities on project lands and waters being managed by the non-Federal entities. As established by the Secretary, any excess revenues will be credited to the Reclamation Fund to remain available, without further Act of appropriation, to support recreation development and management of Bureau of Reclamation land and water areas.''. (c) Recreation and Fish and Wildlife Enhancement.--Section 3 of the Federal Water Project Recreation Act (16 U.S.C. 460l-14) is amended-- (1) by striking subsection (a), redesignating subsection (b) as subsection (a), and inserting after subsection (a) (as so redesignated) the following: ``(b) In the absence of a non-Federal managing partner, the Secretary of the Interior, acting through the Commissioner of Reclamation, is authorized, as a part of any water resource development project under the Secretary's control heretofore or hereafter authorized or reauthorized, to investigate, plan, construct, replace, manage, operate and maintain or otherwise provide for public use and enjoyment of project lands, facilities, and water areas in a manner coordinated with the other project purposes; the costs of which are nonreimbursable.''; (2) in subsection (a) (as so redesignated)-- (A) by inserting ``or enhance'' after ``project construction to preserve''; (B) by striking ``enhancement potential'' each place it appears and inserting ``resources''; (C) by striking ``public bodies'' each place it appears and inserting ``entities''; (D) by striking ``public body'' and inserting ``entity''; and (E) by striking ``or, in the absence thereof, will not detract from that potential''; (3) in subsection (c)(1)(B) by striking ``public body'' each place it appears and inserting ``entity''; and (4) by adding at the end of subsection (c) the following: ``(3) In the absence of a non-Federal managing partner, the Secretary of the Interior, acting through the Commissioner of Reclamation, may modify or expand existing facilities, the costs of which are nonreimbursable.''. (d) Lease of Facilities.-- (1) Repeal.--Section 4 of the Federal Water Project Recreation Act (16 U.S.C. 460l-15) is repealed, and sections 5 through 12 of such Act are redesignated as sections 4 through 11, respectively. (2) Conforming amendment.--Section 6(e) of the Federal Water Project Recreation Act (16 U.S.C. 460l-17(e)) is amended by striking ``4, and 5'' and inserting ``, and 4''. (e) Post Authorization Development.--Section 5 of the Federal Water Project Recreation Act (16 U.S.C. 460l-16) is amended by striking ``public bodies'' and inserting ``entities''. (f) Provision of Facilities.--Section 7 of the Federal Water Project Recreation Act (16 U.S.C. 460l-18) is amended-- (1) in subsection (e) by striking ``and 5'' and inserting ``and between 3 and 4''; (2) in subsection (g) by striking ``3(b)'' and inserting ``3(a)''; and (3) in subsection (h) by striking ``public bodies'' and inserting ``entities''; and by striking ``3(b)'' and inserting ``3(a)''. (g) Miscellaneous Reports.--Section 6 of the Federal Water Project Recreation Act (16 U.S.C. 460l-17) is amended by adding at the end the following: ``(i) Amounts collected under section 2805 of Public Law 102-575 for admission to or recreation use of project land and waters shall be deposited in a special account in the Reclamation Fund and remain available to the Commissioner of Reclamation without further appropriation until expended. Such funds may be used for the development, reconstruction, replacement, management, and operation of recreation resources on project lands and waters with not less than 60 percent being used at the site from which the fees were collected.''. (h) Management for Recreation, Fish and Wildlife, and Other Resources.--Section 7 of the Federal Water Project Recreation Act (16 U.S.C. 460l-18) is amended-- (1) by amending subsection (a) to read as follows: ``(a) The Secretary of the Interior, acting through the Commissioner of Reclamation, is authorized, in conjunction with any water resource development project heretofore or hereafter constructed or which is otherwise under the Secretary's control, to-- ``(1) investigate, plan, design, construct, replace, manage, operate, and maintain or otherwise provide for recreation and fish and wildlife enhancement facilities and services, the costs of which may be nonreimbursable; ``(2) provide for public use and enjoyment of project lands, facilities, and water areas in a manner coordinated with the other project purposes, including by entering into grants, cooperative agreements, and similar instruments with non- Federal entities, without cost sharing, for recreation projects and activities; and ``(3) to acquire or otherwise make available such adjacent lands or interests therein as are necessary for public recreation or fish and wildlife use.''; (2) in subsection (b)-- (A) by inserting ``, acting through the Commissioner of Reclamation,'' after ``the Secretary of the Interior''; (B) by inserting ``and management'' after ``administration''; (C) by striking ``lease''; and (D) by adding at the end the following: ``All such agreements or contracts for administration or management shall identify the terms and conditions of administration, management, and use, approvals required from Bureau of Reclamation, and assure public access to project lands managed for recreation.''; (3) by adding at the end the following: ``(d) The Secretary of the Interior, acting through the Commissioner of Reclamation, is also authorized to enter into agreements with other non-Federal entities for recreation and concession management at Bureau of Reclamation projects. All such agreements or contracts for management shall identify the terms and conditions of management and use, approvals required from the Bureau of Reclamation, and assure public access to project lands managed for recreation.''; and ``(e) The Secretary of the Interior, acting through the Commissioner of Reclamation, is authorized to approve the administration, management, and use of Bureau of Reclamation lands, waters, and the resources thereon by means of easements, leases, licenses, contracts, permits, and other forms of conveyance instruments. ``(f) The Secretary of the Interior, acting through the Commissioner of Reclamation, is authorized to produce, sell, or otherwise make available to the public: information about Bureau of Reclamation programs including publications, photographs, computer discs, maps, brochures, posters, videos, and other memorabilia related to the Bureau of Reclamation, and the natural, historic, and cultural resources of the area; and, other appropriate and suitable merchandise to enhance the public's use of the area. Income from such sales shall be credited to the Reclamation Fund to remain available, without further Act of appropriation, to pay costs associated with the production and sale of items, and any remaining revenue shall be available, without further Act of appropriation, to support recreation development and management of Bureau of Reclamation land and water areas.''. (i) Definitions.--Section 10 of the Federal Water Project Recreation Act (16 U.S.C. 460l-21) is amended by adding at the end the following: ``(f) The term `non-Federal entity' means non-Federal public bodies, nonprofit organizations, Indian tribes, or entities within the private sector.''. (j) Authorization of Appropriations.--The Federal Water Project Recreation Act (16 U.S.C. 460l-12 et seq.) is amended by redesignating section 11 (as redesignated by subsection (d) of this section) as section 12, and by inserting after section 10 the following: ``SEC. 11. AVAILABILITY OF APPROPRIATIONS. ``Funds appropriated under this section may remain available until expended.''. (k) Limitation on Application.--This section and the amendments made by this section shall apply only to water resource development projects under the control of the Secretary of the Interior. SEC. 3. RECREATIONAL FACILITIES AT LOST CREEK RESERVOIR. (a) Construction of Facilities.--As soon as practicable after funds are made available for this section, the Secretary of the Interior shall construct recreational facilities at Lost Creek Reservoir in Utah. (b) Maintenance and Operation of Facilities.--Construction of recreational facilities under subsection (a) shall begin only after the Secretary has entered into a cooperative agreement with the State of Utah that provides for the operation and maintenance of the recreational facilities. (c) Cost Sharing.--The Federal share of the cost of construction carried out under this section shall be 50 percent. SEC. 4. TECHNICAL CORRECTION. Section 1(g) of Public Law 107-69 (115 Stat. 595) is amended by striking ``section 2(c)(1)'' and inserting ``subsection (c)(1)''. SEC. 5. AUTHORIZATION OF AUSTIN, TEXAS, WASTEWATER RECLAMATION AND REUSE PROJECT. (a) Authorization of Project.--The Reclamation Wastewater and Groundwater Study and Facilities Act (Public Law 102-575, title XVI; 43 U.S.C. 390h et seq.) is amended by adding at the end the following: ``SEC. 1635. AUSTIN, TEXAS, WATER RECLAMATION AND REUSE PROJECT. ``(a) Authorization.--The Secretary, in cooperation with the City of Austin Water and Wastewater Utility, Texas, is authorized to participate in the planning (including an appraisal and feasibility study), design, and construction of, and land acquisition for, a project to reclaim and reuse wastewater, including degraded groundwaters, within and outside of the service area of the City of Austin Water and Wastewater Utility, Texas. ``(b) Cost Share.--The Federal share of the cost of the project authorized by this section shall not exceed 25 percent of the total cost of the project. ``(c) Limitation.--The Secretary shall not provide funds for the operation and maintenance of the project authorized by this section.''. (b) Clerical Amendment.--The table of contents in section 2 of Public Law 102-575 (106 Stat. 4600) is amended by adding at the end of the items relating to chapter XVI the following: ``Sec. 1635. Austin, Texas, Water Reclamation and Reuse Project.''. SEC. 6. WILLARD BAY RESERVOIR ENLARGEMENT STUDY. (a) Authorization of Feasibility Study.--Pursuant to the reclamation laws, the Secretary of the Interior, through the Bureau of Reclamation, may conduct a feasibility study on raising the height of Arthur V. Watkins Dam and thereby enlarging the Willard Bay Reservoir for the development of additional storage to meet water supply needs within the Weber Basin Project area. The feasibility study shall include such environmental evaluation as required under the National Environmental Policy Act of 1969 and a cost allocation as required under the Reclamation Projects Act of 1939. (b) Report.--Not later than 180 days after the date of enactment of this Act, the Secretary shall submit a report on the results of the study to the Congress for review and approval. (c) Authorization of Appropriations.--There are authorized to be appropriated to the Secretary to carry out this section $2,000,000. SEC. 7. REAUTHORIZATION OF WATER DESALINATION ACT OF 1996. (a) Authorization of Cooperative and Interagency Agreements.-- Section 3(a) of the Water Desalination Act of 1996 (42 U.S.C. 10301 note) is amended in the first sentence by inserting ``and cooperative and interagency agreements'' after ``contracts''. (b) Authorization of Appropriations.--Section 8 of such Act is amended-- (1) in subsection (a) by striking ``1997 through 2002'' and inserting ``2003 through 2008''; and (2) in subsection (b) by striking ``$25,000,000 for fiscal years 1997 through 2002'' and inserting ``$25,000,000 for fiscal years 2003 through 2008''. Passed the House of Representatives October 1, 2002. Attest: JEFF TRANDAHL, Clerk.

Summary: Reclamation Recreation Management Act of 2002 - (Sec. 2) Amends the Federal Water Project Recreation Act to allow fees to be collected under a project for recreation or fish and wildlife enhancement (project) and retained and used by the participating non-federal entities for operation, maintenance, and replacement of recreation facilities on project lands and waters being managed by such entities. Requires excess revenues to be credited to the Reclamation Fund.Repeals provisions limiting the modification of such projects. Authorizes the Secretary of the Interior to: (1) investigate, plan, construct, replace, manage, operate, maintain, or otherwise provide for public use and enjoyment of project lands, facilities, and water areas in a manner coordinated with other project purposes; and (2) modify or expand existing facilities.Requires: (1) amounts collected for admission to or recreation use of project land and waters to be deposited into a special account in the Fund; and (2) at least 60 percent of such amounts to be used at the site from which the fees were collected.Authorizes the Secretary to: (1) investigate, plan, design, construct, replace, manage, operate, and maintain recreation and fish and wildlife enhancement facilities and services; and (2) acquire or otherwise make available adjacent lands or interests for public recreation or fish and wildlife use.Authorizes the Secretary to: (1) enter into agreements with other non-federal entities for recreation and concession management at Bureau of Reclamation projects; and (2) make available to the public information about Bureau programs.(Sec. 3) Directs the Secretary to construct recreational facilities at Lost Creek Reservoir, Utah.(Sec. 5) Amends the Reclamation Wastewater and Groundwater Study and Facilities Act to authorize the Secretary to participate in the planning, design, and construction of, and land acquisition for, a project to reclaim and reuse wastewater, including degraded groundwaters, within and outside the service area of the City of Austin Water and Wastewater Utility, Texas. Prohibits the Federal cost share of such project from exceeding 25 percent.(Sec. 6) Authorizes the Secretary to conduct a feasibility study on raising the height of Arthur V. Watkins Dam and thereby enlarging the Willard Bay Reservoir for the development of additional storage to meet water supply needs within the Weber Basin Project area. Requires a report from the Secretary to Congress. Authorizes appropriations.(Sec. 7) Amends the Water Desalination Act of 1996 to: (1) authorize the Secretary to enter into cooperative and interagency agreements (as well as to award grants and enter into contracts) for research to develop processes for converting saline water into water suitable for beneficial uses; and (2) extend the authorization of appropriations through FY 2008.


SECTION 1. SHORT TITLE. This Act may be cited as the ``Geriatric Care Act of 2001''. SEC. 2. DISREGARD OF CERTAIN GERIATRIC RESIDENTS AGAINST GRADUATE MEDICAL EDUCATION LIMITATIONS. (a) Direct GME.--Section 1886(h)(4)(F) of the Social Security Act (42 U.S.C. 1395ww(h)(4)(F)) is amended by adding at the end the following new clause: ``(iii) Increase in limitation for geriatric fellowships.--For cost reporting periods beginning on or after the date that is 6 months after the date of enactment of the Geriatric Care Act of 2001, in applying the limitations regarding the total number of full- time equivalent residents in the field of allopathic or osteopathic medicine under clause (i) for a hospital, rural health clinic, or Federally qualified health center, the Secretary shall not take into account a maximum of 3 residents enrolled in a fellowship or residency in geriatric medicine or geriatric psychiatry within an approved medical residency training program to the extent that the hospital, rural health clinic, or Federally qualified health center increases the number of such residents above the number of such residents for the hospital's, rural health clinic's, or Federally qualified health center's most recent cost reporting period ending before the date that is 6 months after the date of enactment of such Act.''. (b) Indirect GME.--Section 1886(d)(5)(B) of the Social Security Act (42 U.S.C. 1395ww(d)(5)(B)) is amended by adding at the end the following new clause: ``(ix) Clause (iii) of subsection (h)(4)(F), insofar as such clause applies with respect to hospitals, shall apply to clause (v) in the same manner and for the same period as such clause (iii) applies to clause (i) of such subsection.''. SEC. 3. MEDICARE COVERAGE OF CARE COORDINATION AND ASSESSMENT SERVICES. (a) Part B Coverage of Care Coordination and Assessment Services.-- Section 1861(s)(2) of the Social Security Act (42 U.S.C. 1395x(s)(2)), as amended by section 105(a) of the Medicare, Medicaid, and SCHIP Benefits Improvement and Protection Act of 2000 (114 Stat. 2763A-471), as enacted into law by section 1(a)(6) of Public Law 106-554, is amended-- (1) in subparagraph (U), by striking ``and'' at the end; (2) in subparagraph (V), by inserting ``and'' after the semicolon at the end; and (3) by adding at the end the following new subparagraph: ``(W) care coordination and assessment services (as defined in subsection (ww)).''. (b) Care Coordination and Assessment Services Defined.--Section 1861 of the Social Security Act (42 U.S.C. 1395x), as amended by section 105(b) of the Medicare, Medicaid, and SCHIP Benefits Improvement and Protection Act of 2000 (114 Stat. 2763A-471), as enacted into law by section 1(a)(6) of Public Law 106-554), is amended by adding at the end the following new subsection: ``Care Coordination and Assessment Services; Individual with a Serious and Disabling Chronic Condition; Care Coordinator ``(ww)(1) The term `care coordination and assessment services' means services that are furnished to an individual with a serious and disabling chronic condition (as defined in paragraph (2)) by a care coordinator (as defined in paragraph (3)) under a plan of care prescribed by such care coordinator for the purpose of care coordination and assessment, which may include any of the following services: ``(A) An initial assessment of an individual's medical condition, functional and cognitive capacity, and environmental and psychological needs and an annual reassessment of such condition, capacity, and needs, unless the care coordinator determines that a more frequent reassessment is necessary based on sentinel health events (as defined by the Secretary) or a change in health status that may require a change in the individual's plan of care. ``(B) The coordination of, and referral for, medical and other health services, including-- ``(i) multidisciplinary care conferences; ``(ii) coordination with other providers (including telephone consultations with physicians); and ``(iii) the monitoring and management of medications, with special emphasis on the management on behalf of an individual with a serious and disabling chronic condition that uses multiple medications (including coordination with the entity managing benefits for the individual). ``(C) Patient and family caregiver education and counseling services (through office visits or telephone consultation), including self-management services and risk appraisal services to identify behavioral risk factors through self-assessment. ``(D) Such other services for which payment would not otherwise be made under this title as the Secretary determines to be appropriate, including activities to facilitate continuity of care and patient adherence to plans of care. ``(2) For purposes of this subsection, the term `individual with a serious and disabling chronic condition' means an individual who a care coordinator annually certifies-- ``(A) is unable to perform (without substantial assistance from another individual) at least 2 activities of daily living (as described in section 7702B(c)(2)(B) of the Internal Revenue Code of 1986) for a period of at least 90 days due to a loss of functional capacity; ``(B) has a level of disability similar to the level of disability described in subparagraph (A) (as determined under regulations promulgated by the Secretary); ``(C) requires medical management and coordination of care due to a complex medical condition (as defined by the Secretary); or ``(D) requires substantial supervision to protect such individual from threats to health and safety due to a severe cognitive impairment (as defined by the Secretary). ``(3)(A) For purposes of this subsection, the term `care coordinator' means an individual or entity that-- ``(i) is-- ``(I) a physician (as defined in subsection (r)(1)); or ``(II) a practitioner described in section 1842(b)(18)(C) or an entity that meets such conditions as the Secretary may specify (which may include physicians, physician group practices, or other health care professionals or entities the Secretary may find appropriate) working in collaboration with a physician; ``(ii) has entered into a care coordination agreement with the Secretary; and ``(iii) meets such other criteria as the Secretary may establish (which may include experience in the provision of care coordination or primary care physicians' services). ``(B) For purposes of subparagraph (A)(ii), each care coordination agreement shall-- ``(i) be entered into for a period of 1 year and may be renewed if the Secretary is satisfied that the care coordinator continues to meet the conditions of participation specified in subparagraph (A); ``(ii) assure that the care coordinator will submit reports to the Secretary on the functional and medical status of individuals with a chronic and disabling condition who receive care coordination services, expenditures relating to such services, and health outcomes relating to such services, except that the Secretary may not require a care coordinator to submit more than 1 such report during a year; and ``(iii) contain such other terms and conditions as the Secretary may require.''. (c) Payment and Elimination of Coinsurance.-- (1) In general.--Section 1833(a)(1) of the Social Security Act (42 U.S.C. 1395l(a)(1)), as amended by section 223(c) of the Medicare, Medicaid, and SCHIP Benefits Improvement and Protection Act of 2000 (114 Stat. 2763A-489), as enacted into law by section 1(a)(6) of Public Law 106-554, is amended-- (A) by striking ``and (U)'' and inserting ``(U)''; and (B) by inserting before the semicolon at the end the following: ``, and (V) with respect to care coordination and assessment services described in section 1861(s)(2)(W), the amounts paid shall be 100 percent of the lesser of the actual charge for the service or the amount determined under the payment basis determined under section 1848 by the Secretary for such service''. (2) Payment under physician fee schedule.--Section 1848(j)(3) (42 U.S.C. 1395w-4(j)(3)) is amended by inserting ``(2)(W),'' after ``(2)(S),''. (3) Elimination of coinsurance in outpatient hospital settings.--The third sentence of section 1866(a)(2)(A) of the Social Security Act (42 U.S.C. 1395cc(a)(2)(A)) is amended by inserting after ``1861(s)(10)(A)'' the following: ``, with respect to care coordination and assessment services (as defined in section 1861(ww)(1)),''. (d) Application of Limits on Billing.--Section 1842(b)(18)(C) of the Social Security Act (42 U.S.C. 1395u(b)(18)(C)), as amended by section 105(d) of the Medicare, Medicaid, and SCHIP Benefits Improvement and Protection Act of 2000 (114 Stat. 2763A-472), as enacted into law by section 1(a)(6) of Public Law 106-554, is amended by adding at the end the following new clause: ``(vii) A care coordinator (as defined in section 1861(ww)(3)) that is not a physician.''. (e) Exception to Limits on Physician Referrals.--Section 1877(b) of the Social Security Act (42 U.S.C. 1395nn(b)) is amended-- (1) by redesignating paragraph (4) as paragraph (5); and (2) by inserting after paragraph (3) the following new paragraph: ``(4) Private sector purchasing and quality improvement tools for original medicare.--In the case of a designated health service, if the designated health service is-- ``(A) a care coordination and assessment service (as defined in section 1861(ww)(1)); and ``(B) provided by a care coordinator (as defined in paragraph (3) of such section).''. (f) Rulemaking.--The Secretary of Health and Human Services shall define such terms and establish such procedures as the Secretary determines necessary to implement the provisions of this section. (g) Effective Date.--The amendments made by this section shall apply to care coordination and assessment services furnished on or after January 1, 2003.

Summary: Geriatric Care Act of 2001 - Amends title XVIII (Medicare) of the Social Security Act (SSA) with respect to payments to hospitals, rural health clinics, or Federally qualified health centers for direct graduate medical education costs and the limitation on the number of full-time-equivalent residents in allopathic and osteopathic medicine. Provides for the disregard of up to three geriatric residents in applying such limitation.Amends SSA title XVIII, as amended by the Medicare, Medicaid, and SCHIP Benefits Improvement and Protection Act of 2000, to provide for Medicare coverage of care coordination and assessment services to an individual with a serious and disabling chronic condition.


SECTION 1. SHORT TITLE. This Act may be cited as the ``Federal Reserve Reform Act of 1995''. SEC. 2. MEMBERSHIP OF THE FEDERAL OPEN MARKET ADVISORY COMMITTEE. (a) In General.--Section 12A(a) of the Federal Reserve Act (12 U.S.C. 263(a)) is amended to read as follows: ``(a) Establishment of Advisory Committee.-- ``(1) In general.--There is established a Federal Open Market Advisory Committee (hereafter in this section referred to as the `Advisory Committee'), which shall consist of the presidents of the Federal Reserve banks. ``(2) Chairperson.--The president of the Federal Reserve Bank of New York shall serve as the chairperson of the Advisory Committee. ``(3) Meetings.--The meetings of the Advisory Committee shall be held in Washington, District of Columbia, not less than 4 times each year upon the call of the Board. ``(4) Duties.--The Advisory Committee shall advise the Board on the conduct of open-market operations.''. (b) Conforming Amendments.-- (1) Federal reserve act.--The Federal Reserve Act (12 U.S.C. 221 et seq.) is amended-- (A) in section 2A (12 U.S.C. 225a)-- (i) by striking ``and the Federal Open Market Committee'' each place it appears; and (ii) in the sixth sentence, by striking ``determine'' and inserting ``determines''; (B) in the tenth undesignated paragraph of section 10 (12 U.S.C. 247a)-- (i) by striking ``and by the Federal Open Market Committee''; and (ii) by striking ``and the Committee''; (C) in section 12A (12 U.S.C. 263)-- (i) in subsection (b)-- (I) by striking ``Committee'' each place it appears and inserting ``Board''; and (II) by inserting ``Regulations.-- '' before ``No Federal Reserve''; and (ii) in subsection (c), by inserting ``Accommodation of Commerce and Business.--'' before ``The time''; and (D) in section 14(b)(2) (12 U.S.C. 355(2)), by striking ``Federal Open Market Committee'' and inserting ``Board''. (2) International lending supervision act of 1983.--Section 911(a)(3)(C) of the International Lending Supervision Act of 1983 (12 U.S.C. 3910(a)(3)(C)) is amended by striking ``Federal Open Market Committee'' and inserting ``Board of Governors of the Federal Reserve System''. SEC. 3. CONSULTATION BETWEEN THE BOARD OF GOVERNORS AND THE SECRETARY OF THE TREASURY, THE DIRECTOR OF THE OMB, AND THE CHAIRMAN OF THE CEA. Section 2A of the Federal Reserve Act (12 U.S.C. 225a) (as amended by section 2(b)(1)(A)) is amended-- (1) in the first sentence, by striking ``The Board of Governors'' and inserting the following: ``(a) In General.--The Board of Governors''; and (2) by adding at the end the following new subsection: ``(b) Consultation Required.--The Board of Governors shall meet and consult with the Secretary of the Treasury, the Director of the Office of Management and Budget, and the chairman of the Council of Economic Advisors-- ``(1) during the 30-day period immediately preceding the date on which each report required under the second sentence of subsection (a) is submitted to the Congress by the Board of Governors; and ``(2) during the 30-day period beginning on the date which is 100 days immediately preceding the date by which the President is required to submit the budget under section 1105(a) of title 31, United States Code.''. SEC. 4. APPOINTMENT OF THE CHAIRMAN AND VICE CHAIRMAN. (a) Appointment of the Chairman and Vice Chairman.--The second undesignated paragraph of section 10 of the Federal Reserve Act (12 U.S.C. 242) is amended by striking the third sentence and inserting the following: ``The President shall appoint, by and with the advice and consent of the Senate, one member of the Board to serve as Chairman. The term of such member as Chairman shall expire on January 31 of the first calendar year beginning after the end of the term of the President who appointed such member as Chairman. If a member appointed as Chairman does not complete the term of such office as established in the preceding sentence, the President shall appoint, by and with the advice and consent of the Senate, another member to complete the unexpired portion of such term. The President shall also appoint, by and with the advice and consent of the Senate, one member of the Board to serve as Vice Chairman for a term of 4 years. The Chairman and the Vice Chairman may each serve after the end of their respective terms until a successor has taken office.''. (b) Performance of Duties.--The second undesignated paragraph of section 10 of the Federal Reserve Act (12 U.S.C. 242) (as amended by subsection (a) of this section) is amended by inserting after the seventh sentence the following: ``In the event of the absence or unavailability of the Chairman, the Vice Chairman or (in the Vice Chairman's absence) another member of the Board may be designated by the Chairman to perform the duties of the office of the Chairman. If a vacancy occurs in the office of the Chairman, the Vice Chairman shall perform the duties of the Chairman until a successor takes office. If a vacancy occurs in the office of the Vice Chairman while the office of the Chairman is vacant, the member of the Board with the most years of service on the Board shall perform the duties of the Chairman until a successor takes office.''. (c) Effective Date.-- (1) In general.--Except as provided in paragraph (2), the amendments made by this section shall take effect on the date of enactment of this Act. (2) Current chairman to complete term.--Notwithstanding the amendment made by subsection (a), any member who holds the office of Chairman of the Board of Governors of the Federal Reserve System on the date of enactment of this Act shall continue in such office during the remainder of the term to which such member was appointed. SEC. 5. DISCLOSURE OF INTERMEDIATE TARGETS. Section 12A(b) of the Federal Reserve Act (12 U.S.C. 263(b)) (as amended by section 2(b)(1)(C)(i)) is amended by adding at the end the following: ``Notwithstanding any other provision of law, each change, of any nature whatsoever, in the intermediate targets for monetary policy, which change is adopted by the Board, shall be disclosed to the public on the date on which such change is adopted. For purposes of this subsection, the term `intermediate targets' means any policy objectives regarding monetary aggregates, credit aggregates, prices, interest rates, or bank reserves.''. SEC. 6. AUDIT OF FINANCIAL TRANSACTIONS BY COMPTROLLER GENERAL. Section 714(b) of title 31, United States Code, is amended-- (1) in paragraph (1), by inserting ``or'' at the end; and (2) by striking paragraphs (2) through (4) and inserting the following: ``(2) memoranda, letters, or other written communications between or among members of the Board of Governors of the Federal Reserve System or officers or employees of the Federal Reserve System relating to any transaction described in paragraph (1).''. SEC. 7. BOARD SUBJECT TO BUDGET PROCESS. Section 1105 of title 31, United States Code, is amended by adding at the end the following new subsection: ``(h) Federal Reserve Board Budget Treatment.--Not later than October 16 of each year, the estimated receipts and proposed expenditures of the Board of Governors of the Federal Reserve System and all Federal Reserve banks for the current year and the next 2 succeeding years shall be transmitted by the Board to the President. The President shall transmit to the Congress the information received in accordance with this subsection, without change, together with the budget transmitted to the Congress under subsection (a).''.

Summary: Federal Reserve Reform Act of 1995 - Amends the Federal Reserve Act to abolish the current Federal Open Market Committee, on which the Board of Governors of the Federal Reserve System (the Board) sits, and replace it with a Federal Open Market Advisory Committee, on which the Board does not sit, which shall advise the Board on the conduct of open-market operations. Requires the Board to meet and consult with the Secretary of the Treasury, the Director of the Office of Management and Budget, and the chairman of the Council of Economic Advisers during specified periods. Revises the term of the Chairman of the Board to expire on January 31 of the first calendar year beginning after the end of the term of the President who appointed the Chairman. Provides for performance of the duties of Chairman and Vice Chairman in the event of absence, unavailability, or vacancy. Mandates that each Board-adopted change in the intermediate targets for monetary policy be disclosed to the public upon its date of adoption. Amends Federal law to: (1) instruct the Comptroller General to audit written communications by members of the Board or officers or employees of the Federal Reserve System with respect to financial transactions; and (2) mandate an annual transmittal to the President and the Congress of all estimated receipts and proposed expenditures of the Board and all Federal Reserve banks for the current year and the next two succeeding years.


SECTION 1. SHORT TITLE. This Act may be cited as the ``Significant Regulation Oversight Act of 1996''. SEC. 2. FINDING AND PURPOSE. (a) Finding.--The Congress finds that oversight of significant rules will be enhanced if they are subject to congressional review and approval after being proposed by an agency. (b) Purpose.--The purpose of this Act is to ensure that before a significant rule takes affect-- (1) Congress is given an adequate opportunity to review the rule and ensure that it is in accordance with the intent of Congress in enacting the law under which the rule is proposed; and (2) Congress approves the rule in accordance with the procedures established by this Act. SEC. 3. REVIEW OF SIGNIFICANT RULES BY CONGRESS. (a) Congressional Approval of Significant Rules Required.--A significant rule shall not take effect before the date of the enactment of a joint resolution described in section 4(a) comprised solely of the text of the significant rule. (b) Reporting and Review of Significant Rules.--(1) Before a proposed significant rule would take effect as a final rule, the agency proposing the rule shall submit to each House of Congress a report containing the following: (A) A copy of the proposed significant rule. (B) A concise summary of the proposed significant rule, its purpose, and anticipated effects. (C) A complete copy of any cost-benefit analysis report that has been prepared by the agency with respect to the proposed significant rule. (D) An explanation of the specific statutory interpretation under which a rule is proposed, including an explanation of-- (i) whether the interpretation is expressly required by the text of the statute; or (ii) if the interpretation is not expressly required by the text of the statute, an explanation that the interpretation is within the range of permissible interpretations of the statute as identified by the agency, and an explanation why the interpretation selected by the agency is the agency's preferred interpretation. (E) Any other relevant information or requirements under any other Act and any relevant Executive order. (2) Upon receipt of a report under paragraph (1), each House of Congress shall provide a copy of the report to the Chairman and ranking minority party member of each committee with jurisdiction over the subject matter of the report. (c) No Inference To Be Drawn Where Congress Fails To Approve.--If Congress fails to enact a joint resolution approving a proposed significant rule, no court or agency may infer any intent of Congress from any action or inaction of Congress with regard to such rule or related statute. SEC. 4. CONGRESSIONAL APPROVAL PROCEDURE FOR SIGNIFICANT RULES. (a) Introduction.--Not later than 3 legislative days after the date on which an agency submits a report under section 3(b) containing the text of any proposed significant rule, the majority leader of each House of the Congress shall introduce (by request) a joint resolution comprised solely of the text of that significant rule. If the joint resolution is not introduced in either House as provided in the preceding sentence, then any Member of that House may introduce the joint resolution. (b) Referral and Consideration.--(1) The joint resolution shall be referred to the appropriate committee of the House in which it is introduced. The committee may report the joint resolution without substantive revision and with or without recommendation or with an adverse recommendation, or the committee may vote not to report the joint resolution. If the committee votes to order the joint resolution reported, it shall be reported not later than the end of the period (not to exceed 45 legislative days) established for consideration of the joint resolution by the Speaker of the House of Representatives or the majority leader of the Senate, as the case may be. Except in the case of a joint resolution which a committee votes not to report, a committee failing to report a joint resolution within such period shall be automatically discharged from consideration of the joint resolution, and it shall be placed on the appropriate calendar. (2) A vote on final passage of the joint resolution shall be taken in that House on or before the close of the 90th legislative day after the date of the introduction of the joint resolution in that House. (3)(A) A motion in the House of Representatives to proceed to the consideration of a joint resolution under this section shall be highly privileged and not debatable. An amendment to the motion shall not be in order, nor shall it be in order to move to reconsider the vote by which the motion is agreed to or disagreed to. (B) Debate in the House of Representatives on a joint resolution under this section shall be limited to not more than 4 hours, which shall be divided equally between those favoring and those opposing the joint resolution. A motion further to limit debate shall not be debatable. It shall not be in order to move to recommit a joint resolution under this section or to move to reconsider the vote by which the joint resolution is agreed to or disagreed to. (C) All appeals from the decisions of the chair relating to the application of the Rules of the House of Representatives to the procedure relating to a joint resolution under this section shall be decided without debate. (D) Except to the extent specifically provided in the preceding provisions of this subsection, consideration of a joint resolution under this section shall be governed by the Rules of the House of Representatives applicable to other joint resolutions in similar circumstances. (4)(A) A motion in the Senate to proceed to the consideration of a joint resolution under this section shall be privileged and not debatable. An amendment to the motion shall not be in order, nor shall it be in order to move to reconsider the vote by which the motion is agreed to or disagreed to. (B) Debate in the Senate on a joint resolution under this section, and all debatable motions and appeals in connection therewith, shall be limited to not more than 10 hours. The time shall be equally divided between, and controlled by, the majority leader and the minority leader or their designees. (C) Debate in the Senate on any debatable motion or appeal in connection with a joint resolution under this section shall be limited to not more than 1 hour, to be equally divided between, and controlled by, the mover and the manager of the joint resolution, except that in the event the manager of the joint resolution is in favor of any such motion or appeal, the time in opposition thereto, shall be controlled by the minority leader or his designee. Such leaders, or either of them, may, from time under their control on the passage of a joint resolution, allot additional time to any Senator during the consideration of any debatable motion or appeal. (D) A motion in the Senate to further limit debate on a joint resolution under this section is not debatable. A motion to recommit a joint resolution under this section is not in order. (c) Amendments Prohibited.--No amendment to a joint resolution considered under this section shall be in order in either the House of Representatives or the Senate. No motion to suspend the application of this subsection shall be in order in either House, nor shall it be in order in either House for the presiding officer to entertain a request to suspend the application of this subsection by unanimous consent. (d) Treatment if the Other House Has Acted.--If, before the passage by one House of a joint resolution of that House described in subsection (a), that House receives from the other House a joint resolution described in subsection (a) comprised of the same text, then: (1) The procedure in that House shall be the same as if no joint resolution had been received from the other House. (2) The vote on final passage shall be on the joint resolution of the other House. (e) Constitutional Authority.--This section is enacted by Congress-- (1) as an exercise of the rulemaking power of the Senate and the House of Representatives, respectively, and as such it is deemed a part of the rules of each House, respectively, but applicable only with respect to the procedure to be followed in that House in the case of a joint resolution described in subsection (a), and it supersedes other rules only to the extent that it is inconsistent with such rules; and (2) with full recognition of the constitutional right of either House to change the rules (so far as relating to the procedure of that House) at any time, in the same manner, and to the same extent as in the case of any other rule of that House. SEC. 5. EXISTING RULES. (a) General.--Any existing rule may be revised or revoked in accordance with this section if a petition for review so requests. (b) Introduction.--If a petition for review is filed with the Clerk of the House of Representatives or the Secretary of the Senate, the Clerk or the Secretary shall determine whether the petition meets the requirements of subsection (d). If the Clerk or the Secretary determines that a petition meets those requirements, he or she shall notify the majority leader of that House. The majority leader so notified shall, within 3 legislative days, introduce a joint resolution (by request) that makes the revision or revocation of existing rules proposed by the petition upon the enactment of that joint resolution. If the joint resolution is not introduced as provided in the preceding sentence, then any Member of that House may introduce the joint resolution. (c) Procedures for Consideration in the House of Representatives and the Senate.--Any joint resolution introduced under subsection (b) shall be considered in the House of Representatives and the Senate in accordance with the procedures respecting a joint resolution set forth in section 4. (d) Petitions for Review.--A petition for review under subsection (a) shall contain the following: (1) Any rule affected by the petition and the contents of that rule as it would exist if a joint resolution revising or revoking that rule pursuant to the petition were enacted. (2) For a petition in the Senate, the signatures of 30 Senators, or for a petition in the House of Representatives, the signatures of 120 Members. SEC. 6. DEFINITIONS. For purposes of this Act: (1) Agency.--The term ``agency'' has the meaning given that term in section 551 of title 5, United States Code (relating to administrative procedure). (2) Rule.--(A) The term ``rule'' has the meaning given such term by section 551 of title 5, United States Code, except that such term does not include-- (i) any rule of particular applicability including a rule that approves or prescribes-- (I) future rates, wages, prices, services, or allowances therefor, (II) corporate or financial structures, reorganizations, mergers, or acquisitions thereof, or (III) accounting practices or disclosures bearing on any of the foregoing, or (ii) any rule of agency organization, personnel, procedure, practice, or any routine matter. (B) The term ``final rule'' means any final rule or interim final rule. (3) Significant rule.--The term ``significant rule'' means any rule proposed by an agency that is specified or described as such in the Act that authorizes the rule. SEC. 7. EXEMPTION FOR MONETARY POLICY. Nothing in this Act applies to any rule concerning monetary policy proposed or implemented by the Board of Governors of the Federal Reserve System or the Federal Open Market Committee.

Summary: Significant Regulation Oversight Act of 1996 - Prohibits a significant rule (as so specified or described in the authorizing Act) from taking effect before the enactment of a joint resolution comprised solely of the text of such rule. Provides that, before a proposed significant rule takes effect as a final rule, the agency proposing the rule shall submit to each House of Congress a report containing a copy of the rule, a concise summary of its purpose and anticipated effects, any cost-benefit analysis prepared for the rule, the specific statutory interpretation under which the rule is proposed, and any other relevant information or executive order. Bars a court or agency from inferring any intent of the Congress with regard to such a rule or a related statute if it fails to enact a joint resolution approving a proposed significant rule. Provides for the revision or revocation of an existing rule upon enactment of a joint resolution introduced pursuant to a petition for review signed by 30 Members in the Senate or 120 Representatives in the House and containing the rule affected and the rule as it would exist if the joint resolution were enacted. Sets forth congressional procedures for the introduction, referral, and consideration of such joint resolutions for the approval of significant proposed rules or the review of existing rules. Exempts from this Act any rule concerning monetary policy proposed or implemented by the Board of Governors of the Federal Reserve System or the Federal Open Market Committee.


SECTION 1. SHORT TITLE. This Act may be cited as the ``Agricultural Market Promotion Program Amendments Act of 1993''. SEC. 2. MODIFICATIONS TO MARKET PROMOTION PROGRAM. (a) Small-Sized Commercial Entities and Medium-Sized Commercial Entities That Are Beginning Exporters.--Section 203(c) of the Agricultural Trade Act of 1978 (7 U.S.C. 5623(c)) is amended-- (1) in paragraph (2), by striking ``in the case of an unfair trade practice'' and inserting ``in the case of-- ``(A) an unfair trade practice; or ``(B) a small-sized commercial entity, or a medium- sized commercial entity, that is a beginning exporter, as determined by the Secretary.''; and (2) by adding at the end the following new paragraph: ``(3) Goal for small-sized commercial entities and medium- sized commercial entities that are beginning exporters.--In carrying out the program established under this section, the Secretary shall use, to the maximum extent practicable, at least 30 percent of the total funds available or 30 percent of the value of any commodities employed, as determined by the Secretary, for each of fiscal years 1994 and 1995 for program activities involving small-sized commercial entities, and medium-sized commercial entities, that are beginning exporters.''. (b) Branded Promotion.--Section 203(e)(4) of such Act is amended by adding at the end the following new sentence: ``Assistance provided under this paragraph may be used only for market promotion activities that are in addition to activities for which a commercial entity expends an amount during a year in a foreign country, in United States dollars adjusted to reflect the latest Consumer Price Index for all- urban consumers published by the Department of Labor, that is equal to the dollar amount expended by the commercial entity (other than amounts provided under this section) on all market promotion activities during the preceding year in the foreign country.''. (c) Other Terms and Conditions.--Section 203(f) of such Act is amended by adding at the end the following new paragraphs: ``(4) Independent audits.--In addition to an audit that is required by section 403, the Secretary shall require that, as a condition of eligibility for assistance under this section, a commercial entity that receives more than $50,000 a year in assistance under this section shall provide for an independent audit of program activities under this section during the year to determine whether the entity has complied with the requirements of this section. ``(5) Prohibition on assistance for tobacco.--No assistance under this section may be used for the development, maintenance, or expansion of a commercial export market for tobacco. ``(6) Definitions.--As used in this section: ``(A) Commercial entity.--The term `commercial entity' means a cooperative or private organization that exports or promotes an agricultural commodity, including an entity that controls, is controlled by, or is under common control with such a cooperative or private organization. ``(B) Medium-sized commercial entity.--The term `medium-sized commercial entity' means a commercial entity that employs not less than 51, nor more than 500, individuals. ``(C) Small-sized commercial entity.--The term `small-sized commercial entity' means a commercial entity that employs not more than 50 individuals.''. (d) Graduation.--Paragraph (2) of section 203(g) of such Act is amended to read as follows: ``(2) Limitations.-- ``(A) Branded promotion.-- ``(i) In general.--Assistance provided under this section to a commercial entity for activities described in subsection (e)(4) that are conducted in a foreign country-- ``(I) during each year of the first 3-year period the commercial entity receives assistance for the activities, shall not exceed 50 percent of the cost of implementing the marketing plan in the country; ``(II) during the 4th year of the period the commercial entity receives assistance for the activities, shall not exceed 33 percent of the cost of implementing the marketing plan in the country; and ``(III) during the 5th year of period the commercial entity receives assistance for the activities, shall not exceed 17 percent of the cost of implementing the marketing plan in the country. ``(ii) Maximum period.--Assistance provided under this section to a commercial entity for activities described in subsection (e)(4) that are conducted in a foreign country shall not be provided for more than 5 years. ``(B) Generic promotion.-- ``(i) In general.--To be eligible for assistance under this section (other than for activities described in subsection (e)(4) or clause (iii)), an eligible trade organization shall contribute a larger share of the cost of a marketing plan for a foreign country in each year the organization conducts activities in the country, as determined by the Secretary. ``(ii) Maximum period.--The nonfederal share shall be progressively increased in such a manner that an eligible trade organization shall not receive assistance under this section in the country for more than 5 years. ``(iii) Regional state-related trade organizations.--Assistance may be provided under this section for a period not to exceed 5 years for each agricultural commodity for which an eligible regional State-related organization has an approved marketing place for an activity, other than for an activity described in subsection (e)(4). ``(C) Waiver.--The Secretary may waive the limitations described in subparagraphs (A) and (B) in the case of an agricultural commodity with respect to which there has been a favorable decision by the United States Trade Representative under section 301 of the Trade Act of 1974 (19 U.S.C. 2411). To grant waivers, the Secretary shall establish criteria that are consistent and documented.''. SEC. 3. COOPERATOR FOREIGN MARKET DEVELOPMENT PROGRAM. Section 1126(b) of the Food Security Act of 1985 (7 U.S.C. 1736u(b)) is amended by striking ``shall be'' and inserting ``shall not be''. SEC. 4. EFFECTIVE DATE; REGULATIONS. (a) Effective Date.--This Act and the amendments made by this Act shall become effective on the date of enactment of this Act. (b) Regulations.--Not later than 60 days after the date of enactment of this Act, the Secretary of Agriculture shall issue regulations to carry out this Act and the amendments made by this Act.

Summary: Agricultural Market Promotion Program Amendments Act of 1993 - Amends the Agricultural Trade Act of 1978 with regard to the agricultural market promotion program to: (1) give priority to, and obligate specified funds for, small and medium beginning exporters; (2) permit assistance for branded promotion only to supplement an entity's own promotional activities; (3) prohibit assistance for tobacco promotion; and (4) incrementally reduce and eliminate over a five-year period assistance for branded and generic promotion in a foreign country.