SECTION 1. SHORT TITLE; TABLE OF CONTENTS. (a) Short Title.--This Act may be cited as the ``Meeting Our Responsibility to Medicare Beneficiaries Act of 2005''. (b) Table of Contents.--The table of contents of this Act is as follows: Sec. 1. Short title; table of contents. TITLE I--ELIMINATING SPECIAL INTEREST PREFERENCES Sec. 101. Negotiating fair prices for medicare prescription drugs. Sec. 102. Elimination of MA Regional Plan Stabilization Fund (Slush Fund). Sec. 103. Application of risk adjustment reflecting characteristics for the entire medicare population in payments to Medicare Advantage organizations. TITLE II--IMPROVING THE MEDICARE PROGRAM FOR BENEFICIARIES Sec. 201. Eliminating coverage gap. Sec. 202. Requiring two prescription drug plans to avoid Federal fallback. Sec. 203. Waiver of part D late enrollment penalty for transition period. Sec. 204. Improving the transition of full-benefit dual eligible individuals to coverage under the medicare drug benefit. Sec. 205. Part B premium reduction. Sec. 206. Study and report on providing incentives to preserve retiree coverage. Sec. 207. Promoting transparency in employer subsidy payments. TITLE I--ELIMINATING SPECIAL INTEREST PREFERENCES SEC. 101. NEGOTIATING FAIR PRICES FOR MEDICARE PRESCRIPTION DRUGS. (a) In General.--Section 1860D-11 of the Social Security Act (42 U.S.C. 1395w-111) is amended by striking subsection (i) (relating to noninterference) and by inserting the following new subsection: ``(i) Authority To Negotiate Prices With Manufacturers.-- ``(1) In general.--The Secretary shall have authority similar to that of other Federal entities that purchase prescription drugs in bulk to negotiate contracts with manufacturers of covered part D drugs, consistent with the requirements and in furtherance of the goals of providing quality care and containing costs under this part. ``(2) Required use of authority.-- ``(A) Fallback plans.--The Secretary shall exercise the authority described in paragraph (1) with respect to covered part D drugs offered under each fallback prescription drug plan under subsection (g). ``(B) PDPs and ma-pd plans.--In order to ensure that beneficiaries enrolled under prescription drug plans and MA-PD plans and taxpayers are getting fair and affordable prices for covered part D drugs that reflect the bulk purchasing power of such enrollees, the Secretary shall exercise the authority described in paragraph (1) with respect to such drugs offered under all such plans if the Secretary determines that the negotiated prices available under such plans for such drugs are not fair and affordable prices compared to the prices obtained by other Federal government programs for such drugs.''. (b) Effective Date.--The amendment made by this section shall take effect as if included in the enactment of section 101(a) of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (Public Law 108-173; 117 Stat. 2071). SEC. 102. ELIMINATION OF MA REGIONAL PLAN STABILIZATION FUND (SLUSH FUND). (a) In General.--Subsection (e) of section 1858 of the Social Security Act (42 U.S.C. 1395w-27a) is repealed. (b) Conforming Amendment.--Section 1858(f)(1) of the Social Security Act (42 U.S.C. 1395w-27a(f)(1)) is amended by striking ``subject to subsection (e),''. (c) Effective Date.--The amendments made by this section shall take effect as if included in the enactment of section 221(c) of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (Public Law 108-173; 117 Stat. 2181). SEC. 103. APPLICATION OF RISK ADJUSTMENT REFLECTING CHARACTERISTICS FOR THE ENTIRE MEDICARE POPULATION IN PAYMENTS TO MEDICARE ADVANTAGE ORGANIZATIONS. Effective January 1, 2006, in applying risk adjustment factors to payments to organizations under section 1853 of the Social Security Act (42 U.S.C. 1395w-23), the Secretary of Health and Human Services shall ensure that payments to such organizations are adjusted based on such factors to ensure that the health status of the enrollee is reflected in such adjusted payments, including adjusting for the difference between the health status of the enrollee and individuals enrolled under the original medicare fee-for-service program under parts A and B of title XVIII of such Act. Payments to such organizations must, in aggregate, reflect such differences. TITLE II--IMPROVING THE MEDICARE PROGRAM FOR BENEFICIARIES SEC. 201. ELIMINATING COVERAGE GAP. (a) In General.--Section 1860D-2(b)(4)(B) of the Social Security Act (42 U.S.C. 1395w-102(b)(4)(B)) is amended to read as follows: ``(B) Annual out-of-pocket threshold.--For purposes of this part, the `annual out-of-pocket threshold' specified in this subparagraph for a year is equal to the greater of-- ``(i) $3,600; or ``(ii) the initial coverage limit for the year specified in paragraph (3).''. (b) Conforming Amendment.--Section 1860D-22(a)(3)(B)(ii) of the Social Security Act (42 U.S.C. 1395w-132(b)(4)(B)(ii)) is amended by striking ``and the annual out-of-pocket threshold, respectively, are annually adjusted under paragraphs (1) and (4)(B) of section 1860D- 2(b)'' and inserting ``is annually adjusted under paragraph (1) of section 1860D-2(b) (using the percentage increase specified in paragraph (6) of such section)''. (c) Effective Date.--The amendments made by this section shall take effect as if included in the enactment of section 101(a) of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (Public Law 108-173; 117 Stat. 2071). SEC. 202. REQUIRING TWO PRESCRIPTION DRUG PLANS TO AVOID FEDERAL FALLBACK. (a) In General.--Section 1860D-3(a) of the Social Security Act (42 U.S.C. 1395w-103(a)) is amended-- (1) in paragraph (1)-- (A) by striking ``qualifying plans (as defined in paragraph (3))'' and inserting ``prescription drug plans''; and (B) by striking ``, at least one of which is a prescription drug plan''; (2) in paragraph (2), by striking ``qualifying plans'' and inserting ``prescription drug plans''; and (3) by striking paragraph (3). (b) Effective Date.--The amendments made by this section shall take effect as if included in the enactment of section 101(a) of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (Public Law 108-173; 117 Stat. 2071). SEC. 203. WAIVER OF PART D LATE ENROLLMENT PENALTY FOR TRANSITION PERIOD. (a) In General.--Section 1860D-13(b) of the Social Security Act (42 U.S.C. 1895w-113(b)) is amended by adding at the end the following new paragraph: ``(8) Waiver of penalty for months prior to 2008.--A part D eligible individual who enrolls for the first time in a prescription drug plan or an MA-PD plan under this part prior to January 1, 2008, shall not be subject an increase in the monthly beneficiary premium established under subsection (a) with respect to months occurring prior to such date.''. (b) Effective Date.--The amendment made by this section shall take effect as if included in the enactment of section 101(a) of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (117 Stat. 2071). SEC. 204. IMPROVING THE TRANSITION OF FULL-BENEFIT DUAL ELIGIBLE INDIVIDUALS TO COVERAGE UNDER THE MEDICARE DRUG BENEFIT. (a) In General.--Notwithstanding subsection (d)(1) of section 1935 of the Social Security Act (42 U.S.C. 1396u-5), beginning on January 1, 2006, the Secretary of Health and Human Services shall administer a 12- month period during which full-benefit dual eligible individuals (as defined in section 1935(c)(6) of the Social Security Act) shall gradually transition from receiving medical assistance for prescribed drugs under the medicaid program under title XIX of such Act to obtaining coverage of covered part D drugs (as defined in section 1860D-2(e) (42 U.S.C. 1395w-102(e)) under title XVIII of such Act in order to assure that such individuals continue to receive the outpatient prescription drugs they need. (b) Adjustments to Phased-Down State Contribution.--The Secretary of Health and Human Services shall make appropriate adjustments to the amount of payments required to be made by a State or the District of Columbia under section 1935(c) of the Social Security Act (42 U.S.C. 1396u-5(c)) for months occurring during the period described in subsection (a) in order to account for increased costs for the provision of medical assistance incurred by the State or the District of Columbia by reason of the application of the transition period required under this section. SEC. 205. PART B PREMIUM REDUCTION. Section 1839(a) of the Social Security Act (42 U.S.C. 1395r(a)) is amended-- (1) in paragraph (3), in the first sentence, by striking ``The Secretary'' and inserting ``Subject to paragraph (5), the Secretary''; and (2) by adding at the end the following new paragraph: ``(5) For each year (beginning with 2006), the Secretary shall reduce the monthly premium rate determined under paragraph (3) for each month in the year for each individual enrolled under this part (including such an individual subject to an increased premium under subsection (b) or (i)) so that the aggregate amount of such reductions in the year is equal to the aggregate amount of reduced expenditures from the Federal Supplementary Medicare Insurance Trust Fund in the year that the Secretary estimates will result from the provisions of section 103 of the Meeting Our Responsibility to Medicare Beneficiaries Act of 2005.''. SEC. 206. STUDY AND REPORT ON PROVIDING INCENTIVES TO PRESERVE RETIREE COVERAGE. (a) Study.--The Secretary of Health and Human Services shall conduct a study to determine what additional incentives should be provided to employers in order for such employers to continue to provide retirees with prescription drug coverage. Such study shall include an assessment of permitting costs incurred by an employer for covered part D drugs on behalf of a retiree to be treated as incurred costs for purposes of reaching the annual out-of-pocket threshold under section 1860D-2(b)(4) of the Social Security Act (42 U.S.C. 1395w- 102(b)(4)). (b) Report.--Not later than January 1, 2006, the Secretary of Health and Human Services shall submit to Congress a report on the study under subsection (a) together with such recommendations for legislation as the Secretary deems appropriate. SEC. 207. PROMOTING TRANSPARENCY IN EMPLOYER SUBSIDY PAYMENTS. (a) In General.--Section 1860D-22(a) of the Social Security Act (42 U.S.C. 1895w-132(a)) is amended by adding at the end the following new paragraph: ``(7) Disclosure of certain information.--The Secretary shall make the following information regarding the sponsor of a qualified prescription drug plan receiving a subsidy under this section available to the public through the Internet website of the Centers for Medicare & Medicaid Services and other appropriate means: ``(A) The information used by the Secretary to ensure that the prescription drug coverage offered under the plan meets the requirements for subsidy payments under this section. ``(B) The total amount of the subsidy payments made to the sponsor under this section.''. (b) Effective Date.--The amendment made by this section shall take effect as if included in the enactment of section 101(a) of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (Public Law 108-173; 117 Stat. 2071).

Summary: Meeting Our Responsibility to Medicare Beneficiaries Act of 2005 - Amends title XVIII (Medicare) of the Social Security Act (SSA) with respect to: (1) negotiating fair prices for Medicare prescription drugs; (2) elimination of the MA Regional Plan Stabilization Fund; (3) application of risk adjustment reflecting characteristics for the entire Medicare population in payments to Medicare advantage organizations; (4) modification of the annual out-of-pocket threshold with respect to prescription drug benefits; (5) requiring two prescription drug plans to avoid Federal fallback; (6) waiver of the part D (Voluntary Prescription Drug Benefit Program); (7) transition of full-benefit dual eligible individuals to coverage under the Medicare drug benefit; and (8) Medicare part B (Supplementary Medical Insurance) premium reduction. Directs the Secretary to study and report to Congress on providing incentives to preserve retiree coverage. Amends SSA title XVIII to direct the Secretary to make certain information regarding the sponsor of a qualified prescription drug plan receiving a subsidy under the prescription drug program available to the public through the Internet website of the Centers for Medicare & Medicaid Services.


SECTION 1. ALLOWANCE OF DEDUCTION. (a) Deduction for Political Contributions.-- (1) General rule.--Part VII of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 217 the following: ``SEC. 218. CONTRIBUTIONS TO CANDIDATES FOR PUBLIC OFFICE. ``(a) Allowance of Deduction.--In the case of an individual, there shall be allowed as a deduction any political contribution payment of which is made by such individual within the taxable year. ``(b) Limitations.-- ``(1) Amount.--The deduction under subsection (a) shall not exceed $100 ($200) in the case of a joint return under section 6013). ``(2) Verification.--The deduction under subsection (a) shall be allowed, with respect to any political contribution, only if such contribution is verified in such manner as the Secretary shall prescribe by regulations. ``(c) Definitions.--For purposes of this section, the term-- ``(1) `candidate' means, with respect to any Federal, State, or local elective public office, an individual who ``(A) publicly announces before the close of the calendar year following the calendar year in which the contribution or gift is made that he is a candidate for nomination or election to such office; and ``(B) meets the qualifications prescribed by law to hold such office. ``(2) `local' means a political subdivision or part thereof, or 2 or more political subdivisions or parts thereof, of a State; ``(3) `national political party' means-- ``(A) in the case of contributions made during a taxable year of the taxpayer in which the electors of President and Vice President are chosen, a political party presenting candidates or electors for such offices on the official election ballot of 10 or more States, or ``(B) in the case of contributions made during any other taxable year of the taxpayer, a political party which met the qualifications described in subparagraph (A) in the last preceding election of a President and Vice President; ``(4) `political contribution' means a contribution or gift of money to-- ``(A) an individual who is a candidate for nomination or election to any Federal, State, or local elective office in any primary, general, or special election, for use by such individual to further his candidacy for nomination or election to such office; ``(B) any committee, association, or organization (whether or not incorporated) organized and operated exclusively for the purpose of influencing, or attempting to influence, the nomination or election of one or more individuals who are candidates for nomination or election to any Federal, State, or local elective public office, for use by such committee, association, or organization to further the candidacy of such individual or individuals for nomination or election to such office; ``(C) the national committee of a national political party; ``(D) the State committee of a national political party as designated by the national committee of such party; or ``(E) a local committee or a national political party as designated by the State committee of such party designated under subparagraph (D); and ``(5) `State' means the various States and the District of Columbia. ``(d) Cross Reference.-- ``For disallowance of deduction to estates and trusts, see section 642(j).'' (2) Conforming amendment.--The table of sections for part VII of subchapter B of chapter 1 of such Code is amended by inserting after the item relating to section 217 the following: ``Sec. 218. Contribution to candidates for public office.'' (b) Disallowance of Deduction to Estates and Trusts.--Section 642 of such Code is amended by adding at the end the following: ``(j) Political Contributions.--An estate or trust shall not be allowed the deduction for contributions to candidates for public office provided by section 218.'' SEC. 2. EFFECTIVE DATE. The amendments made by section 1 shall apply to taxable years beginning after December 31, 1993.

Summary: Amends the Internal Revenue Code to allow individuals a tax deduction of up to $100 ($200 in the case of a joint return) for political contributions.


SECTION 1. SHORT TITLE. This Act may be cited as the ``Cuba Sanctions Reform Act of 2004''. SEC. 2. DURATION OF SANCTIONS RELATED TO CUBA. (a) Continuation of Sanctions.-- (1) Expiration.--Notwithstanding any other provision of law, the restrictions described in section 3(a) shall, with respect to Cuba, expire 1 year from the date of enactment of this Act unless renewed pursuant to paragraph (2) and subsection (b). (2) Resolution by congress.--The restrictions contained in section 3(a) may be renewed annually for a 1-year period if, prior to the anniversary of the date of enactment of this Act, and each year thereafter, a renewal resolution is enacted into law in accordance with subsection (b). (b) Renewal Resolutions.-- (1) In general.--For purposes of this section, the term ``renewal resolution'' means a joint resolution of the two Houses of Congress, the sole matter after the resolving clause of which is as follows: ``That Congress approves the renewal of the restrictions contained in section 3(a) of the Cuba Sanctions Reform Act of 2004.''. (2) Procedures.-- (A) In general.--A renewal resolution-- (i) may be introduced in either House of Congress by any member of such House at any time within the 90-day period before the expiration of the restrictions described in section 3(a); and (ii) the provisions of subparagraph (B) shall apply. (B) Expedited consideration.--The provisions of section 152 (b), (c), (d), (e), and (f) of the Trade Act of 1974 (19 U.S.C. 2192 (b), (c), (d), (e), and (f)) apply to a renewal resolution under this Act as if such resolution were a resolution described in section 152(a) of the Trade Act of 1974. SEC. 3. PROVISIONS RESTRICTING TRADE AND OTHER RELATIONS WITH CUBA. (a) Provisions Subject to Renewal.--The restrictions described in this subsection that are subject to renewal as described in section 2 are as follows: (1) The prohibition or termination of assistance contained in section 620(a) of the Foreign Assistance Act of 1961 (22 U.S.C. 2370(a)). (2) The authorities conferred upon the President by section 5(b) of the Trading with the enemy Act (50 U.S.C. App. 5(b)), which were being exercised with respect to Cuba on July 1, 1977, as a result of a national emergency declared by the President before that date, and are being exercised on the day before the date of enactment of this Act. (3) Any prohibition on exports to Cuba that is in effect on the day before the date of enactment of this Act under the Export Administration Act of 1979 (50 U.S.C. App. 2401 et seq.). (4) The sanctions contained in section 1704 and section 1706 of the Cuban Democracy Act of 1992 (22 U.S.C. 6003 and 6005). (5) The sanctions contained in the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996 (22 U.S.C. 6021 et seq.). (6) The prohibitions relating to Cuba contained in sections 908, 909, and 910 of the Trade Sanctions Reform and Export Enhancement Act of 2000 (title IX of Public Law 106-387; 22 U.S.C. 7207, 7208, and 7209). (7) Subparagraph (A) of section 901(j)(2) of the Internal Revenue Code of 1986 (relating to denial of foreign tax credit, etc., with respect to certain foreign countries). (8) The prohibition relating to sugar imports established under section 902(c) of the Food Security Act of 1985 (7 U.S.C. 1446g note; Public Law 99-198). (9) The restrictions on common carriers, as defined in section 3(10) of the Communications Act of 1934 (47 U.S.C. 153(10)), related to Cuba, including restrictions regarding the installation, maintenance, repair, and upgrading of telecommunications equipment and facilities, and the provision of telecommunications services between the United States and Cuba. (b) Authority for New Restrictions.--The President may, on or after the date of enactment of this Act-- (1) impose export controls with respect to Cuba under section 5, 6(j), 6(l), or 6(m) of the Export Administration Act of 1979; and (2) exercise the authority of the President under the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) with respect to Cuba pursuant to a declaration of national emergency required by that Act that is made on account of an unusual and extraordinary threat to the national security, foreign policy, or economy of the United States, that did not exist before the date of enactment of this Act. SEC. 4. TRAVEL. (a) In General.--Restrictions related to travel to and from Cuba by individuals who are citizens or residents of the United States, and any transactions ordinarily incident to such travel, that may be regulated or prohibited shall be subject to expiration, and renewal by joint resolution of the two Houses of Congress, as described in section 2. (b) Transactions Incident to Travel.--For purposes of subsection (a), the term ``any transactions ordinarily incident to travel'' includes-- (1) transactions ordinarily incident to travel or maintenance in Cuba; and (2) normal banking transactions involving foreign currency drafts, traveler's checks, or other negotiable instruments incident to such travel. SEC. 5. ANNUAL REMITTANCES. (a) In General.--Except as provided in subsection (b), any limit the Secretary of the Treasury may place on the amount of remittances to Cuba made by any person who is subject to the jurisdiction of the United States, shall be subject to expiration, and renewal by joint resolution of the two Houses of Congress, as described in section 2. (b) Statutory Construction.--Nothing in subsection (a) may be construed to prohibit the prosecution or conviction of any person committing an offense described in section 1956 of title 18, United States Code (relating to the laundering of monetary instruments) or section 1957 of such title (relating to engaging in monetary transactions in property derived from specific unlawful activity).

Summary: Cuba Sanctions Reform Act of 2004 - Provides for the expiration of certain trade and travel restrictions with respect to Cuba unless such restrictions are renewed annually by a specified renewal resolution of the two Houses of Congress. Authorizes the President with respect to Cuba to: (1) impose certain export controls; and (2) exercise certain emergency economic powers.


SECTION 1. SHORT TITLE. This Act may be cited as the ``Fox-Wisconsin Heritage Parkway National Heritage Area Act of 2010''. SEC. 2. DEFINITIONS. In this Act: (1) Heritage area.--The term ``Heritage Area'' means the Fox-Wisconsin Heritage Parkway National Heritage Area established by section 3(a). (2) Local coordinating entity.--The term ``local coordinating entity'' means the local coordinating entity for the Heritage Area designated by section 3(d). (3) Management plan.--The term ``management plan'' means the management plan for the Heritage Area required under section 5(a). (4) Map.--The term ``map'' means the map included under section 5(b)(3)(H). (5) Secretary.--The term ``Secretary'' means the Secretary of the Interior. (6) State.--The term ``State'' means the State of Wisconsin. SEC. 3. FOX-WISCONSIN HERITAGE PARKWAY NATIONAL HERITAGE AREA. (a) Establishment.--There is established in the State the Fox- Wisconsin Heritage Parkway National Heritage Area. (b) Boundaries.-- (1) In general.--The Heritage Area shall include-- (A) the area included in Appendix A, Map 1 of the feasibility study submitted by the local coordinating entity, which includes approximately 1,444 square miles of land in 15 counties in central and southeastern Wisconsin, including Brown, Calumet, Columbia, Crawford, Dane, Fond du Lac, Grant, Green Lake, Iowa, Marquette, Outagamie, Richland, Sauk, Waushara, and Winnebago counties; and (B) any contributing sites, buildings, and districts within the area described in subparagraph (A) that are recommended for inclusion in the Heritage Area by the management plan. (2) Revisions.--The boundaries of the Heritage Area may be revised if the revisions are-- (A) proposed in the management plan developed for the Heritage Area; (B) depicted on the map; and (C) approved by the Secretary in accordance with this Act. (c) Map.--The map shall be available for public inspection in the appropriate offices of-- (1) the National Park Service; and (2) the local coordinating entity. (d) Local Coordinating Entity.--The local coordinating entity for the Heritage Area shall be the Fox-Wisconsin Heritage Parkway, a nonprofit organization established in the State. SEC. 4. ADMINISTRATION. (a) Authorities.--To carry out the management plan, the Secretary, acting through the local coordinating entity, may use amounts made available under this Act-- (1) to make grants to the State (including any political subdivision of the State), nonprofit organizations, and other individuals; (2) to enter into cooperative agreements with, or provide technical assistance to, the State (including any political subdivision of the State), nonprofit organizations, and other interested parties; (3) to hire and compensate staff, which shall include individuals with expertise in natural, cultural, and historical resource protection, and heritage programming; (4) to obtain funds or services from any source, including funds or services that are provided under any other Federal law or program; (5) to enter into contracts for goods or services; and (6) to serve as a catalyst for any other activity that-- (A) furthers the purposes and goals of the Heritage Area; and (B) is consistent with the approved management plan. (b) Duties.--The local coordinating entity shall-- (1) in accordance with section 5, prepare and submit to the Secretary a management plan for the Heritage Area; (2) assist units of local government, regional planning organizations, and nonprofit organizations in carrying out the approved management plan by-- (A) carrying out programs and projects that recognize, protect, and enhance important resource values located in the Heritage Area; (B) establishing and maintaining interpretive exhibits and programs in the Heritage Area; (C) developing recreational and educational opportunities in the Heritage Area; (D) increasing public awareness of, and appreciation for, the natural, historical, scenic, and cultural resources of the Heritage Area; (E) protecting and restoring historic sites and buildings in the Heritage Area that are consistent with Heritage Area themes; (F) ensuring that clear, consistent, and appropriate signs identifying points of public access, and sites of interest, are posted throughout the Heritage Area; and (G) promoting a wide range of partnerships among governments, organizations, and individuals to further the Heritage Area; (3) consider the interests of diverse units of government, businesses, organizations, and individuals in the Heritage Area in the preparation and implementation of the management plan; (4) conduct meetings open to the public at least semiannually regarding the development and implementation of the management plan; (5) for any year for which Federal funds have been received under this Act-- (A) submit an annual report to the Secretary that describes the activities, expenses, and income of the local coordinating entity (including grants to any other entities during the year that the report is made); (B) make available to the Secretary for audit all records relating to the expenditure of the funds and any matching funds; and (C) require, with respect to all agreements authorizing expenditure of Federal funds by other organizations, that the organizations receiving the funds make available to the Secretary for audit all records concerning the expenditure of the funds; and (6) encourage by appropriate means economic viability that is consistent with the Heritage Area. (c) Prohibition on the Acquisition of Real Property.--The local coordinating entity shall not use Federal funds made available under this Act to acquire real property or any interest in real property. SEC. 5. MANAGEMENT PLAN. (a) In General.--Not later than 3 years after the date of enactment of this Act, the local coordinating entity shall submit to the Secretary for approval a proposed management plan for the Heritage Area. (b) Requirements.--The management plan shall-- (1) incorporate an integrated and cooperative approach for the protection, enhancement, and interpretation of the natural, cultural, historic, scenic, educational, and recreational resources of the Heritage Area; (2) take into consideration State and local plans; (3) include-- (A) an inventory of the resources located in the Heritage Area; (B) comprehensive policies, strategies, and recommendations for conservation, funding, management, and development of the Heritage Area; (C) a description of actions that governments, private organizations, and individuals have agreed to take to protect the natural, cultural, historic, scenic, educational, and recreational resources of the Heritage Area; (D) a program of implementation for the management plan by the local coordinating entity that includes a description of-- (i) actions to facilitate ongoing collaboration among partners to promote plans for resource protection, restoration, and construction; and (ii) specific commitments for implementation that have been made by the local coordinating entity or any government, organization, or individual for the first 5 years of operation; (E) the identification of sources of funding for carrying out the management plan; (F) analysis and recommendations for means by which local, State, and Federal programs, including the role of the National Park Service in the Heritage Area, may best be coordinated to carry out this Act; (G) an interpretive plan for the Heritage Area; and (H) a map of the Heritage Area; and (4) recommend policies and strategies for resource management that consider and detail the application of appropriate land and water management techniques, including the development of intergovernmental and interagency cooperative agreements to protect the natural, cultural, historic, scenic, educational, and recreational resources of the Heritage Area. (c) Deadline.--If a proposed management plan is not submitted to the Secretary by the date that is 3 years after the date of enactment of this Act, the local coordinating entity shall be ineligible to receive additional funding under this Act until the date on which the Secretary approves a management plan. (d) Approval or Disapproval of Management Plan.-- (1) In general.--Not later than 180 days after the date of receipt of the management plan under subsection (a), the Secretary, in consultation with the State, shall approve or disapprove the management plan. (2) Criteria for approval.--In determining whether to approve the management plan, the Secretary shall consider whether-- (A) the local coordinating entity is representative of the diverse interests of the Heritage Area, including governments, natural and historic resource protection organizations, educational institutions, businesses, and recreational organizations; (B) the local coordinating entity has afforded adequate opportunity, including public hearings, for public and governmental involvement in the preparation of the management plan; and (C) the resource protection and interpretation strategies contained in the management plan, if implemented, would adequately protect the natural, cultural, historic, scenic, educational, and recreational resources of the Heritage Area. (3) Action following disapproval.--If the Secretary disapproves the management plan under paragraph (1), the Secretary shall-- (A) advise the local coordinating entity in writing of the reasons for the disapproval; (B) make recommendations for revisions to the management plan; and (C) not later than 180 days after the date of receipt of any proposed revision of the management plan from the local coordinating entity, approve or disapprove the proposed revision. (4) Amendments.-- (A) In general.--The Secretary shall approve or disapprove each amendment to the management plan that the Secretary determines would make a substantial change to the management plan. (B) Use of funds.--The local coordinating entity shall not use Federal funds authorized to be appropriated by this Act to carry out any amendments to the management plan until the Secretary has approved the amendments. SEC. 6. RELATIONSHIP TO OTHER FEDERAL AGENCIES. (a) In General.--Nothing in this Act affects the authority of a Federal agency to provide technical or financial assistance under any other law (including regulations). (b) Consultation and Coordination.--To the maximum extent practicable, the head of any Federal agency planning to conduct activities that may have an impact on the Heritage Area is encouraged to consult and coordinate the activities with the Secretary and the local coordinating entity. (c) Other Federal Agencies.--Nothing in this Act-- (1) modifies, alters, or amends any law (including any regulation) authorizing a Federal agency to manage Federal land under the jurisdiction of the Federal agency; (2) limits the discretion of a Federal land manager to implement an approved land use plan within the boundaries of the Heritage Area; or (3) modifies, alters, or amends any authorized use of Federal land under the jurisdiction of a Federal agency. SEC. 7. PRIVATE PROPERTY AND REGULATORY PROTECTIONS. Nothing in this Act-- (1) abridges the rights of any public or private property owner, including the right to refrain from participating in any plan, project, program, or activity conducted within the Heritage Area; (2) requires any property owner-- (A) to permit public access (including access by Federal, State, tribal, or local agencies) to the property of the property owner; or (B) to modify public access or use of property of the property owner under any other Federal, State, or local law; (3) alters any duly adopted land use regulation, approved land use plan, or other regulatory authority of any Federal, State, or local agency; (4) conveys any land use or other regulatory authority to the local coordinating entity; (5) authorizes or implies the reservation or appropriation of water or water rights; (6) diminishes the authority of the State to manage fish and wildlife, including the regulation of fishing and hunting within the Heritage Area; or (7) creates any liability, or affects any liability under any other law (including regulations), of any private property owner with respect to any individual injured on the private property. SEC. 8. EVALUATION; REPORT. (a) In General.--Not later than 3 years before the date on which authority for Federal funding terminates for the Heritage Area, the Secretary shall-- (1) conduct an evaluation of the accomplishments of the Heritage Area; and (2) prepare a report in accordance with subsection (c). (b) Evaluation.--An evaluation conducted under subsection (a)(1) shall-- (1) assess the progress of the local coordinating entity with respect to-- (A) accomplishing the purposes of this Act for the Heritage Area; and (B) achieving the goals and objectives of the approved management plan for the Heritage Area; (2) analyze the Federal, State, local, and private investments in the Heritage Area to determine the leverage and impact of the investments; and (3) review the management structure, partnership relationships, and funding of the Heritage Area to identify the critical components for sustainability of the Heritage Area. (c) Report.-- (1) In general.--Based on the evaluation conducted under subsection (a)(1), the Secretary shall prepare a report that includes recommendations for the future role of the National Park Service, if any, with respect to the Heritage Area. (2) Required analysis.--If the report prepared under paragraph (1) recommends that Federal funding for the Heritage Area be reauthorized, the report shall include an analysis of-- (A) ways in which Federal funding for the Heritage Area may be reduced or eliminated; and (B) the appropriate time period necessary to achieve the recommended reduction or elimination. (3) Submission to congress.--On completion of the report, the Secretary shall submit the report to-- (A) the Committee on Energy and Natural Resources of the Senate; and (B) the Committee on Natural Resources of the House of Representatives. SEC. 9. FUNDING. (a) Authorization of Appropriations.--There is authorized to be appropriated to carry out this Act $10,000,000, of which not more than $1,000,000 may be made available for any fiscal year. (b) Availability.--Amounts made available under subsection (a) shall remain available until expended. (c) Cost-Sharing Requirement.-- (1) In general.--The Federal share of the cost of any activity carried out using any assistance made available under this Act shall be not more than 50 percent. (2) Non-federal share.--The non-Federal share-- (A) shall be from non-Federal sources; and (B) may be in the form of in-kind contributions of goods or services fairly valued. SEC. 10. TERMINATION OF AUTHORITY. The authority of the Secretary to provide assistance under this Act terminates on the date that is 15 years after the date of enactment of this Act.

Summary: Fox-Wisconsin Heritage Parkway National Heritage Area Act of 2010 - Establishes the Fox-Wisconsin Heritage Parkway National Heritage Area in Wisconsin. Designates the Fox-Wisconsin Heritage Parkway as the local coordinating entity for the Heritage Area. Requires the Fox-Wisconsin Heritage Parkway to prepare and submit a management plan for the Heritage Area. Sets forth requirements for the approval or disapproval of the management plan.


SECTION 1. SMALL EMPLOYER BENEFIT ARRANGEMENTS. (a) Amendments to IRC.-- (1) In general.--Section 414 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: ``(y) Small Employer Benefit Arrangements.-- ``(1) Treatment as employer.-- ``(A) Retirement, accident, and health insurance.-- A small employer benefit arrangement meeting the requirements of this subsection shall be treated as an `employer' for the purpose of providing qualified retirement and accident and health plans (including a plan qualified under section 105(h) or section 125) or group-term life insurance under section 79. ``(B) Allocation of income.--Notwithstanding subparagraph (A), the shareholder-members of the small employer benefit arrangement shall be treated as employers for purposes of administering and allocating items of income, credits, deductions, or exclusions associated with the provision of employee benefits. ``(2) Certain organizations prohibited.-- ``(A) In general.--An organization shall not be treated as a small employer benefit arrangement if the small employer benefit arrangement or any related entity is owned, in whole or in part, or managed or controlled in whole or in part, by any management agreement or certificates of indebtedness, directly or indirectly, or by an agents, brokers or providers of a-- ``(i) health, life, or disability insurer; ``(ii) retirement plan service provider (including persons who provide plan design, administration, and investment advice services to retirement plans); ``(iii) claim administrators; and ``(iv) investment advisors. ``(B) Ordinary provision of products and services.--Nothing in this paragraph shall be construed-- ``(i) to prohibit a small employer benefit arrangement from contracting for the ordinary provision of products and services from any persons or organizations that might otherwise be prohibited from having an ownership or management interest in a small employer benefit arrangement, or ``(ii) to prohibit small employer benefit arrangements from creating, by and between themselves, service organizations owned and controlled exclusively by small employer benefit arrangements to provide for such products and services in the fulfillment of their purposes. ``(3) Definition.--The term `small employer benefit arrangement' means a member owned, democratically controlled cooperative organization that-- ``(A) meets the requirements of subchapter T; ``(B) has at least 21 shareholders of whom 90 percent are in the same or similar line of business; ``(C) sponsors an accident and health plan for shareholder-members and any employees of shareholder- members; ``(D) sponsors a qualified retirement plan that meets the requirements of paragraph (12) or (13) of section 401(k) and is available to shareholder-members and any employees of shareholder-members; ``(E) provides employee benefits pursuant to a written agreement; and ``(F) requires all benefit eligible employees of a shareholder-member to participate according to the same statutory eligibility criteria normally accorded such persons.''. (2) Effective date.--The amendments made by this subsection shall apply with respect to plan years beginning on or after the date of the enactment of this Act. (b) Amendments to ERISA.-- (1) Treatment as employer.--Section 3 of the Employee Retirement and Income Security Act (29 U.S.C. 1002) is amended-- (A) in paragraph (5), by inserting ``or a small employer benefit arrangement'' after ``a group or association of employers''; and (B) by adding at the end the following new paragraph: ``(43) The term `small employer benefit arrangement' means a member owned, democratically controlled cooperative organization that-- ``(A) meets the requirements of subchapter T of chapter 1 of the Internal Revenue Code of 1986; ``(B) has at least 21 shareholders of whom 90 percent are in the same or similar line of business; ``(C) sponsors an accident and health plan for shareholder- members and any employees of shareholder-members; ``(D) sponsors a qualified retirement plan that meets the requirements of paragraph (12) or (13) of section 401(k) of the Internal Revenue Code of 1986 and is available to shareholder- members and any employees of shareholder-members; ``(E) provides employee benefits pursuant to a written agreement; and ``(F) requires all benefit eligible employees of a shareholder-member to participate according to the same statutory eligibility criteria normally accorded such persons.''. (2) Self-insurance prohibited.--Section 609 of such Act (29 U.S.C. 1169) is amended-- (A) by redesignating subsection (e) as subsection (f); and (B) by inserting after subsection (d) the following new subsection: ``(e) Small Employer Benefit Arrangements.-- ``(1) Self-insurance prohibited.--Any group health plan established or maintained by a small employer benefit arrangement shall be fully insured. ``(2) Fully insured defined.--A group health plan established or maintained by a small employer benefit arrangement shall be considered fully insured only if the terms of the arrangement provide for benefits the amount of all of which the Secretary determines are guaranteed under a contract, or policy of insurance, issued by an insurance company, insurance service, or insurance organization, qualified to conduct business in a State.''. (3) Effective date.--The amendments made by this subsection shall apply with respect to plan years beginning on or after the date of the enactment of this Act. (c) Amendments to PPACA.-- (1) Small employer benefit arrangement defined.--Section 1304(b) of the Patient Protection and Affordable Care Act (42 U.S.C. 18024(b)) is amended by adding at the end the following new paragraph: ``(5) Small employer benefit arrangement.--The term `small employer benefit arrangement' has the meaning given such term in section 3(43) of the Employee Retirement and Income Security Act.''. (2) Qualified health plans.--Section 1301(a) of such Act (42 U.S.C. 18021(a)) is amended by adding at the end the following new paragraph: ``(5) Inclusion of small employer benefit arrangement plans.--Any reference in this title to a qualified health plan shall be deemed to include any group health plan established or maintained by a small employer benefit arrangement.''. (3) Eligibility to participate in american health benefit exchanges.--Section 1312(f)(2) of such Act (42 U.S.C. 18032(f)(2)) is amended by adding at the end the following new subparagraph: ``(C) Small employer benefit arrangements.--For purposes of subparagraph (A), a small employer benefit arrangement shall be treated as a small employer.''. (4) Effective date.--The amendments made to any provision by this subsection shall take effect as if included in the enactment of such provision.

Summary: Amends the Internal Revenue Code, the Employee Retirement and Income Security Act (ERISA), and the Patient Protection and Affordable Care Act to treat certain small employer benefit arrangements (SEBAs) as employers for the purpose of providing qualified retirement and accident and health plans or group-term life insurance. Defines a SEBA as a member owned, democratically controlled cooperative organization that: (1) has at least 21 shareholders of whom 90% percent are in the same or similar line of business; (2) sponsors an accident and health plan for shareholder-members and any of their employees; (3) sponsors a qualified retirement plan meeting specified requirements and available to shareholder-members and their employees; (4) provides employee benefits pursuant to a written agreement; and (5) requires all benefit eligible employees of a shareholder-member to participate according to the same statutory eligibility criteria normally accorded them. Treats the shareholder-members of a SEBA as employers for purposes of administering and allocating items of income, credits, deductions, or exclusions associated with the provision of employee benefits. Prohibits treatment as a SEBA of any organization or related entity that is owned, in whole or in part, or managed or controlled in whole or in part, by any management agreement or certificates of indebtedness, directly or indirectly, or by: (1) any agents, brokers or providers of a health, life, or disability insurer; (2) a retirement plan service provider; (3) claim administrators; or (4) investment advisors. Requires any group health plan established or maintained by a SEBA to be fully insured (thus prohibiting self-insurance).


SECTION 1. SHORT TITLE. This Act may be cited as the ``Mexican Agricultural Trade Compliance Act''. SEC. 2. FINDINGS. Congress makes the following findings: (1) Section 301 of the Trade Act of 1974 provides that, if the United States Trade Representative determines that the rights of the United States under any trade agreement are being denied, the Trade Representative shall take action to enforce such rights. (2) The Statement of Administrative Action accompanying the Uruguay Round Agreements Act provided that the United States Trade Representative would base any section 301 determination as to whether there has been a violation or denial of United States rights under the Uruguay Round Agreements on panel or Appellate Body findings adopted by the Dispute Settlement Body of the World Trade Organization. (3) In a panel report adopted by the Dispute Settlement Body on January 27, 2000, the Dispute Settlement Body determined that section 301 of the Trade Act of 1974 is not inconsistent with United States obligations under the Uruguay Round Agreements, particularly in light of the decision of the United States to use section 301 only after exhausting its rights under the Dispute Settlement Understanding. (4) On January 28, 2000, a panel of the World Trade Organization determined that Mexico's antidumping order on high fructose corn syrup imported from the United States violated Mexico's commitments under the Uruguay Round Agreements. (5) On February 24, 2000, the Dispute Settlement Body adopted the report of the panel. (6) On April 10, 2000, the United States and Mexico agreed to a September 22, 2000, deadline for Mexico to come into compliance with the panel report as adopted by the Dispute Settlement Body. (7) On September 20, 2000, just 2 days prior to the date Mexico had agreed to come into compliance with the panel report, Mexico issued a revised antidumping threat determination in an obvious attempt to evade its commitment to come into compliance with the panel report adopted by the Dispute Settlement Body. (8) On June 22, 2001, a panel, convened pursuant to Article 21.5 of the Dispute Settlement Understanding, found that Mexico's revised antidumping threat determination failed to bring Mexico into compliance with its commitments under the World Trade Organization. (9) On October 22, 2001, the Appellate Body affirmed the ruling of the Article 21.5 panel and recommended that Mexico come into compliance with its obligations under the World Trade Organization. (10) On November 21, 2001, the Dispute Settlement Body adopted the Appellate Body ruling that affirmed the findings of the Article 21.5 panel. (11) On January 1, 2002, in a transparent attempt to evade the determinations of the Dispute Settlement Body regarding Mexico's antidumping order on high fructose corn syrup, and in an affront to the rules-based system of the World Trade Organization, Mexico imposed a de facto discriminatory 20 percent tax on soft drinks containing high fructose corn syrup, the intent and effect of which is to continue Mexico's antidumping order on United States high fructose corn syrup by other means by restricting access to the Mexican market. (12) On April 20, 2002, with its discriminatory tax on soft drinks containing high fructose corn syrup now in place, and in a continuous event with the imposition of this tax, Mexico lifted its antidumping order on high fructose corn syrup. Importantly, Mexico lifted its antidumping order only after ensuring that imports of United States high fructose corn syrup would not enter the Mexican market due to the imposition of the tax on soft drinks. Mexico's lifting of its antidumping order enabled it to make the disingenuous claim that it had come into compliance with the findings adopted by the Dispute Settlement Body regarding Mexico's antidumping order. (13) The imposition of the tax on soft drinks and the lifting of the antidumping order by Mexico are related aspects of a unified effort by Mexico to deny the rights of the United States with respect to the trade of high fructose corn syrup. (14) The effects of the import restrictions of Mexico's antidumping order continue with even more egregious results through the imposition of a 20 percent tax on high fructose corn syrup. Imports of high fructose corn syrup from the United States dropped from 110,893 metric tons in 2001 (the year prior to the lifting of the antidumping order) to 4,868 metric tons in 2002 (the first year of the tax). (15) The United States has exhausted proceedings under the Dispute Settlement Understanding, and the Dispute Settlement Body has on more than 1 occasion adopted findings adverse to Mexico. SEC. 3. DEFINITIONS. In this Act: (1) Appellate body.--The term ``Appellate Body'' means the Appellate Body established under Article 17.1 of the Dispute Settlement Understanding. (2) Dispute settlement body.--The term ``Dispute Settlement Body'' has the meaning given that term in section 121(5) of the Uruguay Round Agreements Act (19 U.S.C. 3531(5)). (3) Dispute settlement panel; panel.--The terms ``dispute settlement panel'' and ``panel'' mean a panel established pursuant to Article 6 of the Dispute Settlement Understanding. (4) Dispute settlement understanding.--The term ``Dispute Settlement Understanding'' means the Understanding on Rules and Procedures Governing the Settlement of Disputes referred to in section 101(d)(16) of the Uruguay Round Agreements Act (19 U.S.C. 3511(d)(16)). (5) GATT 1994.--The term ``GATT 1994'' has the meaning given such term in section 2(1)(B) of the Uruguay Round Agreements Act (19 U.S.C. 3501(1)(B). (6) Uruguay round agreements.--The term ``Uruguay Round Agreements'' has the meaning given such term in section 2(7) of the Uruguay Round Agreements Act (19 U.S.C. 3501(7). (7) World trade organization.--The term ``World Trade Organization'' means the organization established pursuant to the WTO Agreement. (8) WTO agreement.--The term ``WTO Agreement'' means the Agreement Establishing The World Trade Organization entered into on April 15, 1994. SEC. 4. ENFORCEMENT OF UNITED STATES RIGHTS UNDER THE URUGUAY ROUND AGREEMENTS AND OTHER TRADE AGREEMENTS WITH RESPECT TO HIGH FRUCTOSE CORN SYRUP EXPORTED TO MEXICO. (a) Determination.--Congress determines that-- (1) the rights of the United States under the Uruguay Round Agreements are being denied by Mexico in connection with the imposition by Mexico of a 20 percent tax on soft drinks containing high fructose corn syrup, an extension by other means of Mexico's unjustified antidumping order on high fructose corn syrup from the United States; (2) the United States has exhausted proceedings under the Dispute Settlement Understanding; (3) Mexico's imposition of a tax on high fructose corn syrup, an extension by other means of its unjustified antidumping order on high fructose corn syrup from the United States-- (A) constitutes an act, policy, or practice by Mexico that is unjustifiable and burdens or restricts United States commerce for purposes of section 304(a)(1) of the Trade Act of 1974 (19 U.S.C. 2414(a)(1)); and (B) denies rights to which the United States is entitled under existing trade agreements with Mexico for purposes of such section 304; and (4) unless, a certification described in subsection (b) is submitted, the United States Trade Representative shall take appropriate action under subsection (c). (b) Certification.--The certification described in this subsection means a certification from the United States Trade Representative submitted to Congress not later than 30 days after the date of enactment of this Act that states that Mexico has eliminated its tax on soft drinks containing high fructose corn syrup and is taking satisfactory measures to preserve the rights of the United States under all applicable trade agreements with respect to high fructose corn syrup. (c) Action To Be Taken by USTR.--If a certification is not made under subsection (b), the United States Trade Representative, not later than 60 days after the date of enactment of this Act and after consultation with the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives, shall, pursuant to section 301(c)(1) (A) and (B) of the Trade Act of 1974 (19 U.S.C. 2411(c)(1) (A) and (B))-- (1) suspend, withdraw, or prevent the application of, benefits of trade agreement concessions to carry out a trade agreement with Mexico; or (2) impose duties or other import restrictions on the goods of Mexico, including agricultural products imported from Mexico, and notwithstanding any other provision of law, fees or restrictions on the services of, Mexico for such time as the Trade Representative determines appropriate.

Summary: Mexican Agricultural Trade Compliance Act - Determines that U.S. rights under the Uruguay Round Agreements are being denied by Mexico in connection with Mexico's imposition of a 20 percent tax on soft drinks containing high fructose corn syrup, an extension of Mexico's unjustified antidumping order on high fructose corn syrup from the United States. Directs the U.S. Trade Representative, unless certifying to Congress within 30 days after the enactment of this Act that Mexico has eliminated such tax and is otherwise preserving all U.S. trade agreement rights with respect to high fructose corn syrup, to either: (1) suspend, withdraw, or prevent the application of benefits of trade agreement concessions to carry out a trade agreement with Mexico; or (2) impose duties or other import restrictions on the goods of Mexico, and fees or restrictions on the services of Mexico.


SECTION 1. SHORT TITLE. This Act may be cited as the ``Mortgage Broker Transparency and Accountability Act of 2007''. SEC. 2. MORTGAGE BROKER REQUIREMENTS. The Truth in Lending Act (15 U.S.C. 1601 et seq.) is amended by inserting after section 129 the following new section: ``Sec. 129A. Duties of mortgage brokers ``(a) Definitions.--For purposes of this section, the following definitions shall apply: ``(1) Home mortgage loan.--The term `home mortgage loan' means any consumer credit transaction in which a security interest, including any such interest arising by operation of law, is or will be retained or acquired in any real property located within the United States which is or, upon the completion of the transaction, will be used as the principal residence of the consumer. ``(2) Mortgage broker.--The term `mortgage broker' means any person who, for compensation or in anticipation of compensation, provides mortgage brokerage services with respect to home mortgage loans for which the person is not the creditor and includes any loan correspondents that provide such services. ``(3) Mortgage brokerage services.--The term `mortgage brokerage services' means any of the following services: ``(A) Arranging or negotiating, or attempting to arrange or negotiate, home mortgage loans or commitments for such loans. ``(B) Referring consumer applicants or prospective applicants for home mortgage loans to creditors. ``(C) Selecting or offering to select, on behalf of consumers, creditors to whom requests for an extension of a home mortgage loan may be made. ``(b) Mortgage Broker Responsibilities and Duties.-- ``(1) Agency by operation of law.--A mortgage broker who provides mortgage brokerage services to any consumer shall be deemed to have an agency relationship with the consumer for such purposes and the broker shall be subject to all requirements for agents of consumers that are applicable under State or Federal law in connection with providing such services. ``(2) Broker duties.--In providing any mortgage brokerage services to any consumer, the mortgage broker shall-- ``(A) act with reasonable skill, care, and diligence in providing any such services to the consumer and provide the consumer with a reasonable choice among available home mortgage loan products that meet the consumer's stated needs for mortgage financing; ``(B) disclose to a consumer the risks and benefits of each home mortgage loan product offered to the borrower, including any possibility of, and the possible extent of, a payment increase at the time of any resetting of rate, the extent of any prepayment penalties, balloon payments, and the consumer's responsibilities to pay taxes and insurance with respect to such product; ``(C) disclose to the consumer-- ``(i) all fees or other payments the mortgage broker may or will receive, if any, from a creditor in connection with each home mortgage loan product that is offered or disclosed to the consumer, directly or indirectly, in the course of providing such services; ``(ii) the amount of each such fee or payment; ``(iii) the rate used to determine the amount of any such fee; ``(iv) how the consumer may use the amount of such fees or payments to reduce settlement costs otherwise applicable to the consumer upon entering into consumer credit transaction involving such home mortgage loan product; and ``(v) all fees or other payments the mortgage broker may or will receive, if any, from the consumer in connection with each home mortgage loan product that is offered or disclosed to the consumer, directly or indirectly, in the course of providing such services; ``(D) meet all applicable licensing requirements under State or local law; and ``(E) obtain and permanently maintain a bond-- ``(i) for an amount equal to not less than 1 percent of the aggregate value of all direct and indirect fees received by the mortgage broker in connection with providing mortgage brokerage services in the calendar year preceding the date of the transaction; ``(ii) that inures, first, to the benefit of any consumer who has any claim against the mortgage broker under this title or any other applicable provision of law; and, second, to the benefit of creditors that deal with mortgage brokers in accordance with this title; and ``(iii) under which any assignee or subsequent transferee or trustee of a consumer or creditor remains a beneficiary of the bond. ``(3) Steering prohibited.--In connection with a home mortgage loan, a mortgage broker may not steer, counsel, or direct a consumer to a higher-cost mortgage as evidenced by higher rates, charges, principal amounts, or the inclusion of prepayment penalties or other terms than a lower-cost mortgage for which the consumer would otherwise qualify, considering the loan features requested by the consumer. ``(c) Statutory Obligation.--No requirement imposed on any mortgage broker under this section may be waived by any consumer or by the terms of any agreement executed between the mortgage broker and any consumer. ``(d) Enforcement.--For purposes of providing a cause of action for any failure to comply with any requirement imposed this section, section 130(a) shall be applied with respect to any such failure-- ``(1) by substituting `mortgage broker' for `creditor' each place such term appears in such section; and ``(2) by treating all points, fees, and costs incurred in the origination of any home mortgage loan as actual damages sustained by the consumer as a result of the failure.''. SEC. 3. DISCLOSURE OF AFFILIATIONS. The Truth in Lending Act (15 U.S.C. 1601 et seq.) is amended by inserting after section 129A (as added by section 2 of this Act) the following new section: ``Sec. 129B. Disclosures in connection with all home mortgage loans ``Each creditor, mortgage broker (as defined in section 129A), or other person involved in making or obtaining a home mortgage loan (as defined in section 129A) to or for any consumer shall disclose to the consumer any financial or other business relationship the creditor, mortgage broker, or other person has with any person that may be involved in the transaction resulting in the home mortgage loan, including any real estate agent, any person providing title insurance, any person providing settlement services (as defined in section 3 of the Real Estate Settlement Procedures Act of 1974), or any person providing table-top financing (in the case of a loan correspondent) and information sufficient to inform the consumer about the relationship, including whether the relationship is exclusive.''. SEC. 4. CLERICAL AMENDMENT. The table of sections for chapter 2 of the Truth in Lending Act is amended by inserting after the item relating to section 129 the following new items: ``129A. Duties of mortgage brokers. ``129B. Disclosures in connection with all home mortgage loans.''.

Summary: Mortgage Broker Transparency and Accountability Act of 2007  Amends the Truth in Lending Act to establish mandatory responsibilities, duties, and disclosures governing mortgage brokers. Deems any mortgage broker to have a statutory agency relationship with the consumer subject to all requirements under state or federal law. Sets forth disclosure requirements, including disclosure of: (1) the risks and benefits of each home mortgage loan product; (2) possible payment increases at the time of any resetting of rate; (3) the extent of any prepayment penalties and balloon payments; and (4) the consumer's responsibilities to pay taxes and insurance with respect to such product. Requires mortgage brokers to maintain a bond that inures, first, to the benefit of any consumer who has any claim against the mortgage broker under this Act. Prohibits: (1) mortgage brokers from steering a consumer to a higher-cost mortgage than one for which the consumer would otherwise qualify; and (2) waiver by a consumer of the requirements imposed upon a mortgage broker under this Act. Requires disclosure of specified affiliations on the part of persons involved in the home mortgage loan process.


SECTION 1. FINDINGS. (a) Findings.--Congress finds the following: (1) The United Nations Human Rights Council fails to adequately reform the United Nations Commission on Human Rights, thus preventing the Council from becoming an effective monitor of human rights throughout the world. (2) The United Nations Commission on Human Rights was created in 1946 to monitor and prevent the abuse of human rights throughout the world. It failed miserably to uphold even the most basic ideals enumerated in the United Nations Charter and the Universal Declaration on Human Rights. It lost its credibility as an instrument for the promotion and protection of human rights and instead allowed repressive regimes to shield themselves from criticism for their human rights violations. (3) The membership of the United Nations Commission on Human Rights constituted some of the worst abusers of human rights in the world, including the tyrannies of Cuba, Sudan, Libya, Belarus, the People's Republic of China, and Zimbabwe. (4) The United Nations Commission on Human Rights failed to act or speak out against numerous cases of egregious human rights abuses, including the countless atrocities committed by communist regimes, the genocide in Rwanda in 1994, and the ongoing genocide in Darfur caused by the Government of Sudan. (5) The United Nations Commission on Human Rights failed to condemn countries that sponsor terrorism (a glaring affront to human rights), including Iran, Syria, and North Korea. (6) The United Nations Commission on Human Rights had repeatedly vilified Israel, the only democracy in the Middle East, while overlooking horrific human rights abuses throughout the Middle East. A recent study found that 30 percent of all country-specific resolutions of the Commission critical of human rights have been directed at Israel, but none against persistent violators like China, Myanmar, Syria, or Zimbabwe. (7) Former United Nations Secretary General Kofi Annan repeatedly emphasized that meaningful reform of the United Nations Commission on Human Rights is a key element for making the United Nations more accountable, effective, and efficient, and that ``the Commission's declining credibility has cast a shadow on the reputation of the United Nations system''. (8) The creation of the United Nations Human Rights Council on March 15, 2006, failed to address the serious shortcomings of the United Nations Commission on Human Rights and fell far short of creating the small standing body composed of appropriate countries that was initially envisioned by Former Secretary General Annan, in his March 2005 report, ``In Larger Freedom: Towards Development, Security and Human Rights For All''. (9) The United Nations Human Rights Council succeeds only in making superficial changes to the structure of the United Nations Commission on Human Rights, masquerading motion as reform and placebo as treatment. (10) The United Nations Human Rights Council does not embody the recommended institutional reforms necessary to advance human rights. (11) The United Nations Human Rights Council cannot monitor cases of human rights abuse throughout the world, nor even prevent egregious human rights violators from being elected to the council itself. The only supposed protection--that a country can be suspended if two-thirds of the members of the General Assembly agree to do so--is useless, since less than half of the General Assembly could agree that Sudan was guilty of any human rights violations. (12) The United Nations Human Rights Council only reduces the number of seats on the council to 47 from 53, which is not enough to make the Council more efficient or more effective. (13) The United Nations Human Rights Council also retains geographical quotas that will only ensure that human rights abusers will continue to have access to membership on the council. Indeed, Israel, a constant target of United Nations ire, had been discriminated against by being denied full participatory rights in regional group meetings associated with the operation of the United Nations Human Rights Commission, while nonmembers of the United Nations, such as the Holy See and the Palestinian observer, participated in such meetings. The geographic quota system ensures a majority of membership slots for the world's least democratic regions. (14) The United States, while voting against the resolution creating the United Nations Human Rights Council, was unable to ensure that the Council would be structured to best promote and protect human rights around the globe. (15) If the United States, working with other like-minded countries, is not able to adequately reform the corrupt United Nations Human Rights Council, then the chances for the United States and other like-minded countries to effect the broader changes to the United Nations that are desired and needed to make the institution more effective are much reduced. (16) The first group of Member States elected to the new United Nations Human Rights Council includes nine countries that the democracy watchdog Freedom House designates as ``not free'', including the People's Republic of China, Cuba, Saudi Arabia, Russia, Pakistan, Tunisia, Algeria, Cameroon, and Azerbaijan. SEC. 2. SENSE OF CONGRESS. It is the sense of Congress that-- (1) the United Nations Human Rights Council-- (A) should be a body that upholds the ideals enumerated in the United Nations Charter and the Universal Declaration on Human Rights; (B) should allow full participation by Israel in all operations associated with the Council; and (C) should be made up of countries that hold regular, competitive, and democratic elections, allow for freedom of expression, and have a credible civil society; and (2) the United States should not support the United Nations Human Rights Council, and should withhold any financial support for the Council until meaningful reforms related to the responsibilities of the United Nations for the protection of human rights are carried out. SEC. 3. WITHHOLDING FUNDING FOR THE UNITED NATIONS HUMAN RIGHTS COUNCIL. (a) In General.--The Secretary of State shall withhold from a United States contribution to a regularly assessed biennial budget of the United Nations an amount that is equal to the percentage of such contribution that the Secretary determines would be allocated by the United Nations to support the United Nations Human Rights Council. (b) Effective Date.--Subsection (a) shall take effect and apply beginning on October 1, 2009, with respect to annual dues paid by the United States to the United Nations each fiscal year in connection with United States contributions to the regularly assessed biennial budgets of the United Nations.

Summary: Expresses the sense of Congress that the United Nations Human Rights Council should: (1) be a body that upholds the ideals enumerated in the United Nations Charter and the Universal Declaration on Human Rights; (2) allow full participation by Israel in Council operations; and (3) be made up of countries that hold regular democratic elections, permit freedom of expression, and have a credible civil society. Expresses the sense of Congress that the United States should not support the Council, and should withhold financial support for the Council until meaningful human rights reforms are carried out. Directs the Secretary of State to withhold from a U.S. contribution to a regularly assessed biennial U.N. budget an amount equal to the percentage of such contribution that the Secretary determines would be allocated by the United Nations to the Council.


SECTION 1. INDEXING OF CERTAIN ASSETS FOR PURPOSES OF DETERMINING GAIN OR LOSS. (a) In General.--Part II of subchapter O of chapter 1 (relating to basis rules of general application) is amended by redesignating section 1023 as section 1024 and by inserting after section 1022 the following new section: ``SEC. 1023. INDEXING OF CERTAIN ASSETS FOR PURPOSES OF DETERMINING GAIN OR LOSS. ``(a) General Rule.-- ``(1) Indexed basis substituted for adjusted basis.--Solely for purposes of determining gain or loss on the sale or other disposition by a taxpayer (other than a corporation) of an indexed asset which has been held for more than 3 years, the indexed basis of the asset shall be substituted for its adjusted basis. ``(2) Exception for depreciation, etc.--The deductions for depreciation, depletion, and amortization shall be determined without regard to the application of paragraph (1) to the taxpayer or any other person. ``(b) Indexed Asset.-- ``(1) In general.--For purposes of this section, the term `indexed asset' means-- ``(A) common stock in a C corporation (other than a foreign corporation), and ``(B) tangible property, which is a capital asset or property used in the trade or business (as defined in section 1231(b)). ``(2) Stock in certain foreign corporations included.--For purposes of this section-- ``(A) In general.--The term `indexed asset' includes common stock in a foreign corporation which is regularly traded on an established securities market. ``(B) Exception.--Subparagraph (A) shall not apply to-- ``(i) stock of a foreign investment company, ``(ii) stock in a passive foreign investment company (as defined in section 1296), ``(iii) stock in a foreign corporation held by a United States person who meets the requirements of section 1248(a)(2), and ``(iv) stock in a foreign personal holding company. ``(C) Treatment of american depository receipts.-- An American depository receipt for common stock in a foreign corporation shall be treated as common stock in such corporation. ``(c) Indexed Basis.--For purposes of this section-- ``(1) General rule.--The indexed basis for any asset is-- ``(A) the adjusted basis of the asset, increased by ``(B) the applicable inflation adjustment. ``(2) Applicable inflation adjustment.--The applicable inflation adjustment for any asset is an amount equal to-- ``(A) the adjusted basis of the asset, multiplied by ``(B) the percentage (if any) by which-- ``(i) the gross domestic product deflator for the last calendar quarter ending before the asset is disposed of, exceeds ``(ii) the gross domestic product deflator for the last calendar quarter ending before the asset was acquired by the taxpayer. The percentage under subparagraph (B) shall be rounded to the nearest \1/10\ of 1 percentage point. ``(3) Gross domestic product deflator.--The gross domestic product deflator for any calendar quarter is the implicit price deflator for the gross domestic product for such quarter (as shown in the last revision thereof released by the Secretary of Commerce before the close of the following calendar quarter). ``(d) Suspension of Holding Period Where Diminished Risk of Loss; Treatment of Short Sales.-- ``(1) In general.--If the taxpayer (or a related person) enters into any transaction which substantially reduces the risk of loss from holding any asset, such asset shall not be treated as an indexed asset for the period of such reduced risk. ``(2) Short sales.-- ``(A) In general.--In the case of a short sale of an indexed asset with a short sale period in excess of 3 years, for purposes of this title, the amount realized shall be an amount equal to the amount realized (determined without regard to this paragraph) increased by the applicable inflation adjustment. In applying subsection (c)(2) for purposes of the preceding sentence, the date on which the property is sold short shall be treated as the date of acquisition and the closing date for the sale shall be treated as the date of disposition. ``(B) Short sale period.--For purposes of subparagraph (A), the short sale period begins on the day that the property is sold and ends on the closing date for the sale. ``(e) Treatment of Regulated Investment Companies and Real Estate Investment Trusts.-- ``(1) Adjustments at entity level.-- ``(A) In general.--Except as otherwise provided in this paragraph, the adjustment under subsection (a) shall be allowed to any qualified investment entity (including for purposes of determining the earnings and profits of such entity). ``(B) Exception for corporate shareholders.--Under regulations-- ``(i) in the case of a distribution by a qualified investment entity (directly or indirectly) to a corporation-- ``(I) the determination of whether such distribution is a dividend shall be made without regard to this section, and ``(II) the amount treated as gain by reason of the receipt of any capital gain dividend shall be increased by the percentage by which the entity's net capital gain for the taxable year (determined without regard to this section) exceeds the entity's net capital gain for such year determined with regard to this section, and ``(ii) there shall be other appropriate adjustments (including deemed distributions) so as to ensure that the benefits of this section are not allowed (directly or indirectly) to corporate shareholders of qualified investment entities. For purposes of the preceding sentence, any amount includible in gross income under section 852(b)(3)(D) shall be treated as a capital gain dividend and an S corporation shall not be treated as a corporation. ``(C) Exception for qualification purposes.--This section shall not apply for purposes of sections 851(b) and 856(c). ``(D) Exception for certain taxes imposed at entity level.-- ``(i) Tax on failure to distribute entire gain.--If any amount is subject to tax under section 852(b)(3)(A) for any taxable year, the amount on which tax is imposed under such section shall be increased by the percentage determined under subparagraph (B)(i)(II). A similar rule shall apply in the case of any amount subject to tax under paragraph (2) or (3) of section 857(b) to the extent attributable to the excess of the net capital gain over the deduction for dividends paid determined with reference to capital gain dividends only. The first sentence of this clause shall not apply to so much of the amount subject to tax under section 852(b)(3)(A) as is designated by the company under section 852(b)(3)(D). ``(ii) Other taxes.--This section shall not apply for purposes of determining the amount of any tax imposed by paragraph (4), (5), or (6) of section 857(b). ``(2) Adjustments to interests held in entity.-- ``(A) Regulated investment companies.--Stock in a regulated investment company (within the meaning of section 851) shall be an indexed asset for any calendar quarter in the same ratio as-- ``(i) the average of the fair market values of the indexed assets held by such company at the close of each month during such quarter, bears to ``(ii) the average of the fair market values of all assets held by such company at the close of each such month. ``(B) Real estate investment trusts.--Stock in a real estate investment trust (within the meaning of section 856) shall be an indexed asset for any calendar quarter in the same ratio as-- ``(i) the fair market value of the indexed assets held by such trust at the close of such quarter, bears to ``(ii) the fair market value of all assets held by such trust at the close of such quarter. ``(C) Ratio of 80 percent or more.--If the ratio for any calendar quarter determined under subparagraph (A) or (B) would (but for this subparagraph) be 80 percent or more, such ratio for such quarter shall be 100 percent. ``(D) Ratio of 20 percent or less.--If the ratio for any calendar quarter determined under subparagraph (A) or (B) would (but for this subparagraph) be 20 percent or less, such ratio for such quarter shall be zero. ``(E) Look-thru of partnerships.--For purposes of this paragraph, a qualified investment entity which holds a partnership interest shall be treated (in lieu of holding a partnership interest) as holding its proportionate share of the assets held by the partnership. ``(3) Treatment of return of capital distributions.--Except as otherwise provided by the Secretary, a distribution with respect to stock in a qualified investment entity which is not a dividend and which results in a reduction in the adjusted basis of such stock shall be treated as allocable to stock acquired by the taxpayer in the order in which such stock was acquired. ``(4) Qualified investment entity.--For purposes of this subsection, the term `qualified investment entity' means-- ``(A) a regulated investment company (within the meaning of section 851), and ``(B) a real estate investment trust (within the meaning of section 856). ``(f) Other Pass-Thru Entities.-- ``(1) Partnerships.-- ``(A) In general.--In the case of a partnership, the adjustment made under subsection (a) at the partnership level shall be passed through to the partners. ``(B) Special rule in the case of section 754 elections.--In the case of a transfer of an interest in a partnership with respect to which the election provided in section 754 is in effect-- ``(i) the adjustment under section 743(b)(1) shall, with respect to the transferor partner, be treated as a sale of the partnership assets for purposes of applying this section, and ``(ii) with respect to the transferee partner, the partnership's holding period for purposes of this section in such assets shall be treated as beginning on the date of such adjustment. ``(2) S corporations.--In the case of an S corporation, the adjustment made under subsection (a) at the corporate level shall be passed through to the shareholders. This section shall not apply for purposes of determining the amount of any tax imposed by section 1374 or 1375. ``(3) Common trust funds.--In the case of a common trust fund, the adjustment made under subsection (a) at the trust level shall be passed through to the participants. ``(4) Indexing adjustment disregarded in determining loss on sale of interest in entity.--Notwithstanding the preceding provisions of this subsection, for purposes of determining the amount of any loss on a sale or exchange of an interest in a partnership, S corporation, or common trust fund, the adjustment made under subsection (a) shall not be taken into account in determining the adjusted basis of such interest. ``(g) Dispositions Between Related Persons.-- ``(1) In general.--This section shall not apply to any sale or other disposition of property between related persons except to the extent that the basis of such property in the hands of the transferee is a substituted basis. ``(2) Related persons defined.--For purposes of this section, the term `related persons' means-- ``(A) persons bearing a relationship set forth in section 267(b), and ``(B) persons treated as single employer under subsection (b) or (c) of section 414. ``(h) Transfers To Increase Indexing Adjustment.--If any person transfers cash, debt, or any other property to another person and the principal purpose of such transfer is to secure or increase an adjustment under subsection (a), the Secretary may disallow part or all of such adjustment or increase. ``(i) Special Rules.--For purposes of this section-- ``(1) Treatment of improvements, etc.--If there is an addition to the adjusted basis of any tangible property or of any stock in a corporation during the taxable year by reason of an improvement to such property or a contribution to capital of such corporation-- ``(A) such addition shall never be taken into account under subsection (c)(1)(A) if the aggregate amount thereof during the taxable year with respect to such property or stock is less than $1,000, and ``(B) such addition shall be treated as a separate asset acquired at the close of such taxable year if the aggregate amount thereof during the taxable year with respect to such property or stock is $1,000 or more. A rule similar to the rule of the preceding sentence shall apply to any other portion of an asset to the extent that separate treatment of such portion is appropriate to carry out the purposes of this section. ``(2) Assets which are not indexed assets throughout holding period.--The applicable inflation adjustment shall be appropriately reduced for periods during which the asset was not an indexed asset. ``(3) Treatment of certain distributions.--A distribution with respect to stock in a corporation which is not a dividend shall be treated as a disposition. ``(4) Section cannot increase ordinary loss.--To the extent that (but for this paragraph) this section would create or increase a net ordinary loss to which section 1231(a)(2) applies or an ordinary loss to which any other provision of this title applies, such provision shall not apply. The taxpayer shall be treated as having a long-term capital loss in an amount equal to the amount of the ordinary loss to which the preceding sentence applies. ``(5) Acquisition date where there has been prior application of subsection (a)(1) with respect to the taxpayer.--If there has been a prior application of subsection (a)(1) to an asset while such asset was held by the taxpayer, the date of acquisition of such asset by the taxpayer shall be treated as not earlier than the date of the most recent such prior application. ``(6) Collapsible corporations.--The application of section 341(a) (relating to collapsible corporations) shall be determined without regard to this section. ``(j) Regulations.--The Secretary shall prescribe such regulations as may be necessary or appropriate to carry out the purposes of this section.''. (b) Clerical Amendment.--The table of sections for part II of subchapter O of chapter 1 is amended by striking the item relating to section 1023 and by inserting after the item relating to section 1022 the following new item: ``Sec. 1022. Indexing of certain assets for purposes of determining gain or loss. ``Sec. 1023. Cross references.''. (c) Effective Date.--The amendments made by this section shall apply to dispositions after December 31, 2006, in taxable years ending after such date.

Summary: Amends the Internal Revenue Code to allow an inflation adjustment based upon the gross domestic product deflator to the adjusted basis of certain assets (including C corporation common stock and tangible property used in a trade or business) held by a taxpayer for more than three years for purposes of determining gain or loss on the sale or other disposition of such assets. Sets forth rules for applying such inflation adjustment to short sales, regulated investment companies and real estate investment trusts, partnerships and other pass-thru entities, and dispositions of assets between related persons.


SECTION 1. SHORT TITLE. This Act may be cited as the ``Fair Debt Collection Practices Amendments Act of 1995''. SEC. 2. DEFINITIONS. Section 803(6)(C) of the Fair Debt Collection Practices Act (15 U.S.C. 1692a(6)(C)) is amended by inserting ``owed to the Federal Government or to any State'' after ``collect any debt''. SEC. 3. ACQUISITION OF LOCATION INFORMATION. Section 804(6) of the Fair Debt Collection Practices Act (15 U.S.C. 1692b(6)) is amended by inserting before the period at the end the following: ``, except that the debt collector may communicate with persons other than the attorney for the purpose of acquiring location information or information relating to the income, assets, or credit of the consumer if the attorney refuses to provide such information to the debt collector''. SEC. 4. VALIDATION OF DEBTS. (a) Destination of Validation Notice.--Section 809(a) of the Fair Debt Collection Practices Act (15 U.S.C. 1692g(a)) is amended in the matter preceding paragraph (1) by striking ``send the consumer'' and inserting ``send to the last known address of the consumer (or to any location at which the debt collector has a reasonable belief that the consumer is residing)''. (b) Form of Validation Notice.--Section 809(a)(3) of the Fair Debt Collection Practices Act (15 U.S.C. 1692g(a)(3)) is amended-- (1) by inserting ``appearing in type at least as large as 12-point type'' after ``a statement''; (2) by striking ``disputes'' and inserting ``notifies the debt collector in writing that''; and (3) by striking ``thereof,'' and inserting ``thereof is disputed,''. SEC. 5. LEGAL ACTIONS BY DEBT COLLECTORS. Section 811(a)(2) of the Fair Debt Collection Practices Act (15 U.S.C. 1692i(a)(2)) is amended-- (1) in subparagraph (A), by inserting ``or in which the obligation was incurred'' before the semicolon; and (2) in subparagraph (B), by inserting ``or is employed'' after ``consumer resides''. SEC. 6. CIVIL LIABILITY. (a) Limitations on Damages.--Section 813(a) of the Fair Debt Collection Practices Act (15 U.S.C. 1692k(a)) is amended to read as follows: ``(a) Limitations on Damages.-- ``(1) In general.--Except as otherwise provided in this section, a debt collector who fails to comply with any provision of this title with respect to any person shall be liable to such person as follows: ``(A) Individual actions.--In the case of an action arising under this title other than an action described in subparagraph (B), in an amount equal to any actual damages sustained by the person as a result of such failure. ``(B) Class actions.--In the case of an action arising under this title that is brought or maintained as a class action pursuant to the Federal Rules of Civil Procedure or as otherwise provided by law (hereafter in this section referred to as a `class action'), in an amount equal to the sum of-- ``(i) the amount for each named plaintiff as is recoverable under subparagraph (A); and ``(ii) such amount as the court may allow for all other class members, without regard to a minimum individual recovery, not to exceed the total amount for such class members as is recoverable under subparagraph (A). ``(C) Costs and attorney's fees.--In the case of any successful action to enforce the liability specified in subparagraph (A) or (B), the costs of the action, together with reasonable attorney's fees as determined by the court, in an amount not to exceed the amount awarded in such action under subparagraph (A) or (B), as applicable. ``(2) Class action limitation.--The total amount recovered under paragraph (1)(B) in any class action or series of class actions arising out of the same failure to comply by the same debt collector shall not exceed the lesser of-- ``(A) $500,000; or ``(B) 1 percent of the net financial worth of the debt collector. ``(3) Actions brought in bad faith.--On a finding by the court that an action arising under this title was brought in violation of Rule 11(b) of the Federal Rules of Civil Procedure, the court may award to the defendant the costs of the action, together with reasonable attorney's fees, as determined by the court. ``(4) Offer of judgment.--Notwithstanding any other provision of law, in any action arising under this title, for purposes of any application of Rule 68 of the Federal Rules of Civil Procedure-- ``(A) costs shall include reasonable attorney's fees; and ``(B) following any offer made to a plaintiff or to the plaintiff class that is not accepted in accordance with such Rule, the plaintiff or plaintiff class, as applicable, shall not be entitled to recover attorney's fees as otherwise provided in this title if the amount of the final judgment awarded to the plaintiff or to the plaintiff class, as applicable, is less than or equal to the offer.''. (b) Factors for Consideration.--Section 813(b) of the Fair Debt Collection Practices Act (15 U.S.C. 1692k(b)) is amended to read as follows: ``(b) Factors for Consideration.--In determining the liability of a debt collector under subsection (a) in any action arising under this title, the court shall consider, among other relevant factors-- ``(1) the frequency and persistence of noncompliance by the debt collector; ``(2) the nature of such noncompliance; and ``(3) the extent to which the noncompliance of the debt collector is intentional.''. (c) Modification of Bona Fide Error Defense.--Section 813(c) of the Fair Debt Collection Practices Act (15 U.S.C. 1692k(c)) is amended-- (1) by striking ``violation was not'' and inserting the following: ``violation-- ``(1) was not''; (2) by striking the period at the end and inserting ``; or''; and (3) by adding at the end the following new paragraph: ``(2) resulted from the use of written communication in a form approved by any Federal or State agency responsible for the regulation of debt collectors.''. (d) Reasonable Person Standard.--Section 813 of the Fair Debt Collection Practices Act (15 U.S.C. 1692k) is amended by adding at the end the following new subsection: ``(f) Reasonable Person Standard.--In making a determination under this section as to whether or not a debt collector has failed to comply with any provision of this title with respect to any person, the court shall consider the effect of the actions or omissions of the debt collector on a reasonable person.''. SEC. 7. RELATION TO STATE LAWS. Section 816 of the Fair Debt Collection Practices Act (15 U.S.C. 1692n) is amended to read as follows: ``SEC. 816. RELATION TO STATE LAWS. ``(a) In General.--This title supersedes any provision of the law of any State that creates a private right of action relating to any operation, practice, or activity of a debt collector. ``(b) No Remedy Under This Title for State Law Violations.--This title shall not be construed to provide a remedy for any violation of the law of any State with respect to debt collection practices. ``(c) No Liability Under This Title for State Law Violations.--This title shall not be construed to establish any liability or penalty for a violation of the law of any State unless the conduct which constitutes a violation of the law of such State also constitutes a violation of any requirement of this title or any regulation promulgated pursuant to this title.''.

Summary: Fair Debt Collection Practices Amendments Act of 1995 - Amends the Fair Debt Collection Practices Act to limit the exclusion from its purview of debt collection activities by a Federal or State official to collection of debts owed to the Federal or a State government, respectively. (Sec. 3) Permits a debt collector to acquire income, assets, or credit information from a person other than the debtor's attorney if the attorney refuses to provide such information. (Sec. 4) Revises procedural guidelines for: (1) debt validation; (2) legal actions by debt collectors; and (3) limitations on damages, including repeal of the allowance of up to $1,000 in additional damages. Provides that this Act: (1) supersedes any State law creating a private right of action against a debt collector; (2) does not provide a remedy for any violation of State law regarding debt collection practices; and (3) does not establish any liability or penalty for violation of State law unless such violation also constitutes a violation under this Act.