SECTION 1. MODIFICATIONS TO ENCOURAGE CONTRIBUTIONS OF CAPITAL GAIN
              REAL PROPERTY MADE FOR CONSERVATION PURPOSES AND
              QUALIFIED CONSERVATION CONTRIBUTIONS.

    (a) Contributions of Capital Gain Real Property Made for
Conservation Purposes and of Qualified Conservation Contributions Not
Subject to Special Limitation on Contributions of Capital Gain
Property.--Subparagraph (C) of section 170(b)(1) of the Internal
Revenue Code of 1986 (relating to special limitation with respect to
contributions described in subparagraph (A) of capital gain property)
is amended by redesignating clause (iv) as clause (v) and by inserting
after clause (iii) the following new clause:
                            ``(iv) In the case of charitable
                        contributions described in subparagraph (A) of
                        capital gain property, clauses (i) and (ii)
                        shall not apply to--
                                    ``(I) any qualified conservation
                                contribution (as defined in section
                                170(h)), or
                                    ``(II) any other contribution of
                                capital gain property which is real
                                property if the contribution is of the
                                donor's entire interest in such
                                property and is to a qualified
                                organization (as defined in section
                                170(h)(3)) which is organized for
                                conservation purposes (as defined in
                                section 170(h)(4)(A)) and which
                                provides the taxpayer, at the time of
                                such donation, a letter of intent which
                                contains an acknowledgment of the
                                donee's intent that the property is
                                being acquired for any such
                                conservation purpose.''.
    (b) Unlimited Carryover for Contributions of Capital Gain Real
Property for Conservation Purposes and of Qualified Conservation
Contributions of Capital Gain Property.--Paragraph (1) of section
170(d) of such Code in amended by adding at the end the following new
subparagraph:
                    ``(C) Unlimited carryover for contributions of
                capital gain real property for conservation purposes
                and of qualified conservation contributions of capital
                gain property.--The 5 taxable year limitation in
                subparagraph (A) shall not apply to any charitable
                contribution to which clauses (i) and (ii) of
                subsection (b)(1)(C) do not apply by reason of clause
                (iv) thereof. For purposes of this paragraph, the
                excess described in the material preceding clause (i)
                of subparagraph (A) shall be treated as attributable to
                contributions described in the preceding sentence of
                this subparagraph to the extent of such
                contributions.''.
    (c) Effective Date.--The amendment made by this section shall apply
to contributions made in taxable years beginning after the date of the
enactment of this Act.

SEC. 2. MODIFICATION OF RULES RELATING TO ESTATE TAX EXCLUSION FOR LAND
              SUBJECT TO QUALIFIED CONSERVATION EASEMENT.

    (a) Repeal of Certain Restrictions on Where Land Is Located.--
Clause (i) of section 2031(c)(8)(A) of the Internal Revenue Code of
1986 is amended to read as follows:
                            ``(i) which is located in the United States
                        or any possession of the United States,''.
    (b) Repeal of Limitation on Exclusion.--
            (1) In general.--Paragraph (1) of section 2031(c) of such
        Code is amended by striking ``the lesser of--'' and all that
        follows and inserting ``the applicable percentage of the value
        of land subject to a qualified conservation easement, reduced
        by the amount of any deduction under section 2055(f) with
        respect to such land.''
            (2) Conforming amendments.--
                    (A) Subsection (c) of section 2031 of such Code is
                amended by striking paragraph (3) and by redesignating
                paragraphs (4) through (10) as paragraphs (3) through
                (9), respectively.
                    (B) Paragraphs (2) and (6) of section 2031(c) of
                such Code, as redesignated by subparagraph (A), are
                each amended by striking ``paragraph (5)'' and
                inserting ``paragraph (4)''.
                    (C) Paragraphs (1), (6), and (7)(A)(iii) of section
                2031(c) of such Code, as redesignated by subparagraph
                (A), are each amended by striking ``paragraph (6)'' and
                inserting ``paragraph (5)''.
    (c) Date for Determining Value of Land and Easement.--Paragraph (2)
of section 2032(c) of such Code (defining applicable percentage) is
amended by adding at the end the following new sentence: ``The values
taken into account under the preceding sentence shall be such values as
of the date of the contribution referred to in paragraph (7)(B).''
    (d) Certain Commercial Recreational Uses Permitted.--Subparagraph
(B) of section 2031(c)(7) of such Code, as redesignated by subsection
(b), is amended to read as follows:
                    ``(B) Qualified conservation easement.--
                            ``(i) In general.--The term `qualified
                        conservation easement' means a qualified
                        conservation contribution (as defined in
                        section 170(h)(1)) of a qualified real property
                        interest (as defined in section 170(h)(2)(C)),
                        except that clause (iv) of section 170(h)(4)(A)
                        shall not apply, and the restriction on the use
                        of such interest described in section
                        170(h)(2)(C) shall include a prohibition on
                        more than a de minimis use for a commercial
                        recreational activity.
                            ``(ii) Special rules.--For purposes of this
                        paragraph--
                                    ``(I) Retained rights.--Rights
                                retained in the conservation easement
                                to lease the land for hunting and
                                fishing, so long as such leases are not
                                inconsistent with the conservation
                                purpose of the easement, shall be
                                deemed to be de minimis use.
                                    ``(II) Pre-effective date
                                easements.--Easements otherwise
                                qualifying under the provisions of this
                                subsection that were donated on or
                                before the date of the enactment of
                                this subclause, shall be deemed to
                                allow no more than de minimis use for a
                                commercial recreational activity unless
                                by their terms they expressly provide
                                for commercial recreational activity in
                                excess of that otherwise allowed by
                                this subparagraph.
                                    ``(III) Authority to extinguish
                                right of commercial recreation
                                activity.--For purposes of this
                                section, if the executor of an estate
                                and every person in being who has an
                                interest in the land execute an
                                agreement to amend or extinguish any
                                right under the easement of commercial
                                recreation activity in the land so as
                                to ensure that such land is used for no
                                more than de minimis commercial
                                recreational activity, such agreement
                                shall be treated as in effect as of the
                                date of the election described in
                                paragraph (5).''
    (e) Effective Date.--The amendments made by this section shall
apply to estates of decedents dying after the date of the enactment of
this Act.

Summary: Amends the Internal Revenue Code to exclude contributions of any qualified conservation contribution or capital gain real property made for conservation purposes from the application of the special limitation on contributions of capital gain property and from the application of the five-year carryover limitation. Repeals specified property location restrictions on the estate tax exclusion for property subject to a qualified conservation easement.

To amend the Internal Revenue Code of 1986 to encourage contributions by individuals of capital gain real property for conservation purposes, to encourage qualified conservation contributions, and to modify the rules governing the estate tax exclusion for land subject to a qualified conservation easement.


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Economic Growth and Stabilization
Financing Demonstration Act 1994''.

SEC. 101. GUARANTEED LOAN DEMONSTRATION PROGRAM.

    (a) In General.--In order to study the feasibility and desirability
of a program of loan guarantees for economic growth and stabilization
in communities facing economic distress, the Secretary is authorized to
guarantee loans made to private borrowers by private lending
institutions, community development financial institutions, and other
lenders as the Secretary considers appropriate, except that the
Secretary may guarantee loans less than $750,000 only if the borrower
is not eligible for a loan guarantee under the Small Business Act.
    (b) Terms and Conditions.--
            (1) In general.--The Secretary may make such guarantees
        upon application of the lenders and upon such terms and
        conditions as the Secretary may prescribe.
            (2) Presumption of validity.--Guarantees under paragraph
        (1) shall be conclusive evidence that the guarantee has been
        properly obtained, that the underlying loan qualifies for such
        guarantee, and that, but for fraud or material
        misrepresentation by the holder, such guarantee will be
        presumed to be valid, legal, and enforceable.
            (3) Lender responsibility.--No guarantee will be provided
        unless the lender is responsible and makes adequate provision
        for servicing the loan on reasonable terms and for protecting
        the financial interest of the United States.
    (c) Preferred Lender Preference.--To the extent feasible, the
Secretary shall exercise the guarantee authority established under this
section on a preferred lender basis and authorize lenders, in
accordance with agreements entered into between the Secretary and such
lenders, to take such actions on the Secretary's behalf as the
Secretary deems appropriate, including, but not limited to, the
determination of eligibility and credit worthiness and loan monitoring,
collection and liquidation.
    (d) Target Subsidy Rate.--In exercising the loan guarantee
authority provided under this section, the Secretary shall attempt to
administer the program in a manner which results in a subsidy rate not
to exceed approximately 6 percent of the amount of the overall loan
guarantees.
    (e) Authorization of Appropriations.--Of the funds authorized to be
appropriated under section 106, for purposes of this section there are
authorized to be appropriated $50,000,000 per fiscal year to cover the
costs (as defined in section 502(5) of the Federal Credit Reform Act of
1990 (2 U.S.C. 661a(5))) of loan guarantees issued pursuant to
subsection (b)(3) of such section. Such sums shall remain available
until expended.

SEC. 102. INTEREST RATE SUBSIDY DEMONSTRATION PROGRAM.

    (a) In General.--In order to study the feasibility and desirability
of a program of interest rate subsidies for economic growth and
stabilization in communities facing economic distress, the Secretary is
authorized to pay interest rate subsidies to private lending
institutions, community development financial institutions, and other
lenders as the Secretary considers appropriate, for loans made to
private borrowers.
    (b) Terms and Conditions.--The Secretary may pay interest rate
subsidies upon application of the lenders and upon such terms and
conditions as the Secretary may prescribe, except that no interest rate
subsidy may be provided unless the lender is responsible and makes
adequate provision for servicing the loan on reasonable terms and for
protecting the financial interest of the United States.
    (c) Preferred Lender Preference.--To the extent feasible, the
Secretary shall exercise the interest rate subsidy authority
established under this section on a preferred lender basis and
authorize lenders, in accordance with agreements entered into between
the Secretary and such lenders, to take such actions on the Secretary's
behalf as the Secretary deems appropriate, including, but not limited
to, the determination of eligibility and credit worthiness and loan
monitoring, collection and liquidation.

SEC. 103. EQUITY FINANCE DEMONSTRATION PROGRAM.

    (a) In General.--In order to study the feasibility and desirability
of a program of equity financing for economic growth and stabilization
in communities facing economic distress, the Secretary is authorized to
establish a demonstration program under which the Secretary may
directly, or indirectly through grants to eligible intermediaries,
purchase or commit to purchase warrants, subordinated debt, or
nonvoting preferred securities of private United States businesses or
nonprofit organizations and associations.
    (b) Establishment of Fund.--For purposes of conducting the program
provided under subsection (a), the Secretary shall establish an Equity
Investment Revolving Fund.
    (c) Disposal of Equity Instruments.--The Secretary shall endeavor
to dispose of any financial instruments purchased or guaranteed under
this section within a period of 10 years after their date acquisition
of such interest.
    (d) Use of Payments.--
            (1) Use of payments to the secretary.--Amounts received by
        the Secretary from the payment of dividends and the redemption
        of financial instruments acquired under this section shall be
        deposited in the Equity Investment Revolving Fund and shall,
        subject to appropriations, be available to make or guarantee
        additional investments consistent with this section.
            (2) Use of payments to eligible intermediaries.--Of the
        amounts received by eligible recipient intermediaries from the
        payment of dividends and the redemption of financial
        instruments acquired under this section--
                    (A) up to 50 percent may be retained by such
                eligible intermediaries to make or guarantee additional
                investments consistent with this section, and
                    (B) no less than 50 percent shall be returned to
                the Secretary to be deposited into the Fund established
                under subsection (b) to make or guarantee additional
                investments consistent with this section.
    (e) Investment of Excess Funds.--If the Secretary determines that
the amount of money in the Fund exceeds the current requirements of the
Fund, the Secretary may direct the Secretary of the Treasury to invest
such amounts in obligations of the United States, in obligations
guaranteed by the United States Government, or in such other
obligations or securities of the United States as the Secretary of the
Treasury deems appropriate. Provided, however, that any subsequent use
of monies so invested shall be subject to appropriations.

SEC. 104. SECONDARY MARKET CREDIT ENHANCEMENT DEMONSTRATION PROGRAM.

    In order to study the feasibility and desirability of a program of
providing credit enhancements to pools of financial instruments related
to economic growth and stabilization activities in communities facing
economic distress, the Secretary is authorized to establish a
demonstration program under which the Secretary may provide credit
enhancements to pools of financial instruments related to economic
growth and stabilization activities in such areas.

SEC. 105. PERFORMANCE EVALUATIONS; REPORT TO CONGRESS.

    (a) Performance Evaluations.--The Secretary shall conduct
performance evaluations of each of the demonstration projects
established under this Act to assess their effectiveness in promoting
economic growth and stabilization in communities facing economic
distress.
    (b) Annual Report.--Based on the evaluations conducted under
subsection (a), the Secretary shall prepare and submit annually a
report to the Congress containing a full and detailed account of
operations under this Act. Such a report shall include--
            (1) performance measures established under subsection (a);
            (2) an audit setting forth the amount, type, recipient, and
        source of disbursements, receipts, and losses sustained as a
        result of operations under this Act during the preceding fiscal
        year and since inception of the demonstration programs; and
            (3) recommendations with respect to program changes,
        statutory changes, and other matters to improve and facilitate
        the operations of the demonstration programs and to encourage
        the use of these programs by qualified concerns.

SEC. 106. AUTHORIZATION OF APPROPRIATIONS.

    For purposes of this Act, there are authorized to be appropriated
$90,000,000 per fiscal year. Such sums shall remain available until
expended.

SEC. 107. SEPARABILITY.

    If any provision of this Act, or any application of such provision
to any person or circumstance, shall be held invalid, the remainder of
this Act, or the application of such provision to person or
circumstance other than those as to which it is held invalid, shall not
be affected thereby.

Summary: Economic Growth and Stabilization Financing Demonstration Act 1994 - Prescribes guidelines under which the Secretary of Commerce may conduct demonstration programs in economically distressed communities to: (1) guarantee loans made by lending institutions to private parties, (2) pay interest rate subsidies, (3) implement an equity financing program. And (4) provide secondary market credit enhancements to pools of financial instruments related to economic growth and stabilization in such communities. Directs the Secretary to conduct performance evaluations and submit an annual status report to the Congress. Authorizes appropriations.


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Animal Disease Risk Assessment,
Prevention, and Control Act of 2001''.

SEC. 2. FINDINGS AND PURPOSE.

    (a) Findings.--Congress finds that--
            (1) it is in the interest of the United States to maintain
        healthy livestock herds;
            (2) managing the risks of foot and mouth disease, bovine
        spongiform encephalopathy, and related diseases in the United
        States may require billions of dollars for remedial activities
        by consumers, producers, and distributors of meat and blood
        products;
            (3) the potential introduction of those diseases into the
        United States would cause devastating financial losses to--
                    (A) the agriculture industry and other economic
                sectors; and
                    (B) United States trade in the affected animals and
                animal products;
            (4) foot and mouth disease is a severe and highly
        contagious viral infection affecting cattle, deer, goats,
        sheep, swine, and other animals;
            (5) the most effective means of eradicating foot and mouth
        disease is by the slaughter of affected animals;
            (6) while foot and mouth disease was eradicated in the
        United States in 1929, the virus could be reintroduced by--
                    (A) a single infected animal, an animal product, or
                a person carrying the virus;
                    (B) an act of terrorism; or
                    (C) other means;
            (7) once introduced, foot and mouth disease can spread
        quickly through--
                    (A) exposure to aerosols from infected animals;
                    (B) direct contact with infected animals; and
                    (C) contact with contaminated feed, equipment, or
                humans harboring the virus or carrying the virus on
                their clothing;
            (8) foot and mouth disease is endemic to more than \2/3\ of
        the world and is considered to be widespread in parts of
        Africa, Asia, Europe, and South America;
            (9) foot and mouth disease occurs in over 7 different
        serotypes and 60 subtypes;
            (10) as foot and mouth disease outbreaks have occurred, the
        United States has banned the importation of live ruminants and
        swine and many animal products from countries affected by foot
        and mouth disease;
            (11) recently, the United States has implemented bans in
        response to outbreaks in Argentina, the European Union, and
        Taiwan;
            (12) although United States exclusion programs have been
        successful at keeping foot and mouth disease out of the United
        States since 1929, recent outbreaks in Argentina, the European
        Union, and Taiwan are placing an unprecedented strain on our
        animal health system;
            (13) bovine spongiform encephalopathy is a transmissible,
        neuro-degenerative disease found in cattle;
            (14) in cattle with bovine spongiform encephalopathy, the
        active agent is found primarily in the brain and spinal cord
        and has not been found in commonly consumed beef products;
            (15) bovine spongiform encephalopathy is thought to have an
        incubation period of several years but is ultimately fatal to
        cattle within weeks of onset of the active disease;
            (16) bovine spongiform encephalopathy was first widely
        found in 1986 in cattle in the United Kingdom;
            (17) bovine spongiform encephalopathy-carrying cattle have
        been found in cattle in Belgium, Denmark, France, Germany,
        Ireland, Italy, Liechtenstein, Luxembourg, the Netherlands,
        Portugal, Spain, and Switzerland;
            (18) cattle infected with bovine spongiform encephalopathy
        originating from the United Kingdom have been found and
        intercepted in Canada;
            (19) since 1989, the Secretary of Agriculture has
        prohibited the importation of live grazing animals from
        countries where bovine spongiform encephalopathy has been found
        in cattle;
            (20) other products derived from grazing animals, such as
        blood meal, bonemeal, fat, fetal bovine serum, glands, meat-
        and-bone meal, and offal, are prohibited from entry, except
        under special conditions or under permits issued by the
        Secretary of Agriculture for scientific or research purposes;
            (21) on December 12, 1997, the Secretary of Agriculture
        extended those restrictions to include all countries in Europe
        because of concerns about widespread risk factors and
        inadequate surveillance for bovine spongiform encephalopathy;
            (22) on December 7, 2000, the Secretary of Agriculture
        prohibited all imports of rendered animal protein products from
        Europe;
            (23) Creutzfeldt-Jacob disease is a human spongiform
        encephalopathy;
            (24) on March 20, 1996, the Spongiform Encephalopathy
        Advisory Committee of the United Kingdom announced the
        identification of 10 cases of a new variant of Creutzfeldt-
        Jacob disease;
            (25) all 10 patients developed onsets of the disease in
        1994 or 1995;
            (26) scientific experts (including scientists at the
        Department of Agriculture, the Department of Health and Human
        Services, and the World Health Organization) are studying the
        possible link (including potential routes of transmission)
        between bovine spongiform encephalopathy and variant
        Creutzfeldt-Jacob disease;
            (27) from October 1996 to December 2000, 87 cases of
        variant Creutzfeldt-Jacob disease have been reported in the
        United Kingdom, 3 cases in France, and 1 case in Ireland; and
            (28) to reduce the risk of human spongiform
        encephalopathies in the United States, the Commissioner of Food
        and Drugs has--
                    (A) banned individuals who lived in Great Britain
                for at least 180 days since 1980 from donating blood in
                the United States; and
                    (B) established regulations that prohibit the
                feeding of most animal-derived proteins to grazing
                animals.
    (b) Purpose.--The purpose of this Act is to provide the people of
the United States and Congress with information concerning--
            (1) actions by Federal agencies to prevent foot and mouth
        disease, bovine spongiform encephalopathy, and related
        diseases;
            (2) the sufficiency of legislative authority to prevent or
        control foot and mouth disease, bovine spongiform
        encephalopathy, and related diseases in the United States;
            (3) the economic impacts associated with the potential
        introduction of foot and mouth disease, bovine spongiform
        encephalopathy, and related diseases into the United States;
        and
            (4) the risks to public health from possible links between
        bovine spongiform encephalopathy and other spongiform
        encephalopathies to human illnesses.

SEC. 3. REPORT TO CONGRESS.

    (a) Preliminary Report.--
            (1) In general.--Not later than 30 days after the date of
        enactment of this Act, the Secretary of Agriculture shall
        submit to the Committees and Subcommittees described in
        paragraph (2) a preliminary report concerning--
                    (A) coordinated interagency activities to assess,
                prevent, and control the spread of foot and mouth
                disease and bovine spongiform encephalopathy in the
                United States;
                    (B) sources of information from the Federal
                Government available to the public on foot and mouth
                disease and bovine spongiform encephalopathy; and
                    (C) any immediate needs for additional legislative
                authority, appropriations, or product bans to prevent
                the introduction of foot and mouth disease or bovine
                spongiform encephalopathy into the United States.
            (2) Submission of report to congress.--The Secretary shall
        submit the preliminary report to--
                    (A) the Committee on Agriculture of the House of
                Representatives;
                    (B) the Committee on Agriculture, Nutrition, and
                Forestry of the Senate;
                    (C) the Subcommittee on Agriculture, Rural
                Development, and Related Agencies of the Committee on
                Appropriations of the Senate; and
                    (D) the Subcommittee on Agriculture, Rural
                Development, Food and Drug Administration, and Related
                Agencies of the Committee on Appropriations of the
                House of Representatives.
    (b) Final Report.--
            (1) In general.--Not later than 180 days after the date of
        enactment of this Act, the Secretary of Agriculture shall
        submit to the Committees and Subcommittees described in
        subsection (a)(2) a final report that--
                    (A) discusses the economic impacts associated with
                the potential introduction of foot and mouth disease,
                bovine spongiform encephalopathy, and related diseases
                into the United States;
                    (B) discusses the potential risks to public and
                animal health from foot and mouth disease, bovine
                spongiform encephalopathy, and related diseases; and
                    (C) provides recommendations to protect the health
                of animal herds and citizens of the United States from
                those risks including, if necessary, recommendations
                for additional legislation, appropriations, or product
                bans.
            (2) Contents.--The report shall contain--
                    (A) an assessment of the risks to the public
                presented by the potential presence of foot and mouth
                disease, bovine spongiform encephalopathy, and related
                diseases in domestic and imported livestock, livestock
                and animal products, wildlife, and blood products;
                    (B) recommendations to reduce and manage the risks
                of foot and mouth disease, bovine spongiform
                encephalopathy, and related diseases;
                    (C) any plans of the Secretary to identify,
                prevent, and control foot and mouth disease, bovine
                spongiform encephalopathy, and related diseases in
                domestic and imported livestock, livestock products,
                wildlife, and blood products;
                    (D) a description of the incidence and prevalence
                of foot and mouth disease, bovine spongiform
encephalopathy, variant Creutzfeldt-Jacob disease, and related diseases
in other countries;
                    (E) a description and an analysis of the
                effectiveness of the measures taken to assess, prevent,
                and control the risks of foot and mouth disease, bovine
                spongiform encephalopathy, variant Creutzfeldt-Jacob
                disease, and related diseases in other countries;
                    (F) a description and an analysis of the
                effectiveness of the measures that the public, private,
                and nonprofit sectors have taken to assess, prevent,
                and control the risk of foot and mouth disease, bovine
                spongiform encephalopathy, and related diseases in the
                United States, including controls of ports of entry and
                other conveyances;
                    (G) a description of the measures taken to prevent
                and control the risk of bovine spongiform
                encephalopathy and variant Creutzfeldt-Jacob disease
                transmission through blood collection and transfusion;
                    (H) a description of any measures (including any
                planning or managerial initiatives such as interagency,
                intergovernmental, international, and public-private
                sector partnerships) that any Federal agency plans to
                initiate or continue to assess, prevent, and control
                the spread of foot and mouth disease, bovine spongiform
                encephalopathy, variant Creutzfeldt-Jacob disease, and
                related diseases in the United States and other
                countries;
                    (I) plans by Federal agencies (including the
                Centers for Disease Control and Prevention)--
                            (i) to monitor the incidence and prevalence
                        of the transmission of foot and mouth disease,
                        bovine spongiform encephalopathy, variant
                        Creutzfeldt-Jacob disease, and related diseases
                        in the United States; and
                            (ii) to assess the effectiveness of efforts
                        to prevent and control the spread of foot and
                        mouth disease, bovine spongiform
                        encephalopathy, variant Creutzfeldt-Jacob
                        disease, and related diseases in the United
                        States;
                    (J) plans by Federal agencies (including the
                Agricultural Research Service, the Cooperative State
                Research, Education, and Extension Service, and the
                National Institutes of Health) to carry out, in
                partnership with the private sector--
                            (i) research programs into the causes and
                        mechanism of transmission of foot and mouth
                        disease and bovine spongiform encephalopathy;
                        and
                            (ii) diagnostic tools and preventive and
                        therapeutic agents for foot and mouth disease,
                        bovine spongiform encephalopathy, variant
                        Creutzfeldt-Jacob disease, and related
                        diseases;
                    (K) plans for providing appropriate compensation
                for affected animals in the event of the introduction
                of foot and mouth disease, bovine spongiform
                encephalopathy, or related diseases into the United
                States; and
                    (L) recommendations to Congress for legislation
                that will improve efforts to assess, prevent, or
                control the transmission of foot and mouth disease,
                bovine spongiform encephalopathy, variant Creutzfeldt-
                Jacob disease, and related diseases in the United
                States and in other countries.
    (c) Consultation.--
            (1) Preliminary report.--In preparing the preliminary
        report under subsection (a), the Secretary shall consult with--
                    (A) the Secretary of the Treasury
                    (B) the Secretary of Commerce;
                    (C) the Secretary of State;
                    (D) the Secretary of Health and Human Services;
                    (E) the Secretary of Defense;
                    (F) the United States Trade Representative;
                    (G) the Director of the Federal Emergency
                Management Agency; and
                    (H) representatives of other appropriate Federal
                agencies;
            (2) Final report.--In preparing the final report under
        subsection (b), the Secretary shall consult with--
                    (A) the individuals listed in paragraph (1);
                    (B) private and nonprofit sector experts in
                infectious disease, research, prevention, and control;
                    (C) international, State, and local governmental
                animal health officials;
                    (D) private, nonprofit, and public sector livestock
                experts;
                    (E) representatives of blood collection and
                distribution entities; and
                    (F) representatives of consumer and patient
                organizations and other interested members of the
                public.

Summary: Animal Disease Risk Assessment, Prevention, and Control Act of 2001 - Directs the Secretary of Agriculture to submit a preliminary report to specified congressional committees concerning: (1) interagency measures to assess, prevent, and control the spread of foot and mouth disease and bovine spongiform encephalopathy in the United States, (2) related Federal information sources available to the public. And (3) the need for any additional legislative authority or product bans. Directs the Secretary to submit a final report to such committees that discusses such diseases' economic impacts, public and animal health risks, and related legislative authority or product bans.

A bill to provide the citizens of the United States and Congress with a report on coordinated actions by Federal agencies to prevent the introduction of foot and mouth disease and bovine spongiform encephalopathy into the United States and other information to assess the economic and public health impacts associated with the potential threats presented by those diseases.


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Climate Change Investment Act of
2006''.

SEC. 2. REPEAL OF TAX SUBSIDIES FOR THE OIL AND GAS INDUSTRY.

    (a) Repeal of Election To Expense Certain Refineries.--
            (1) Subparagraph (B) of section 179C(c)(2) of the Internal
        Revenue Code of 1986 is amended by striking ``January 1, 2012''
        and inserting ``the date of the enactment of the Climate Change
        Investment Act of 2006''.
            (2) Paragraph (2) of section 179C(c) of such Code is
        amended by striking ``January 1, 2008'' each place it appears
        and inserting ``the date of the enactment of the Climate Change
        Investment Act of 2006''.
    (b) Repeal of Amortization of Geological and Geophysical
Expenditures.--Subsection (h) of section 167 of such Code is amended by
adding at the end the following new paragraph:
            ``(5) Termination.--This subsection shall not apply to any
        expenses paid or incurred in any taxable year beginning after
        the date of the enactment of this Act.''.
    (c) Repeal of Enhanced Oil Recovery Credit.--Section 43 of such
Code (relating to enhanced oil recovery credit) is amended by adding at
the end the following new subsection:
    ``(f) Termination.--This section shall not apply to taxable years
beginning after the date of the enactment of this subsection.''.
    (d) Repeal of Credit for Production of Low Sulfur Diesel Fuel.--
Section 45H of such Code (relating to credit for production of low
sulfur diesel fuel) is amended by adding at the end the following new
subsection:
    ``(h) Termination.--This section shall not apply to taxable years
beginning after the date of the enactment of this subsection.''.
    (e) Repeal of Credit for Producing Fuel From a Nonconventional
Source.--Subpart D of part IV of subchapter A of chapter 1 of such Code
is amended by striking section 45K (relating to credit for producing
fuel from a nonconventional source).
    (f) Repeal of Deduction for Capital Costs Incurred in Complying
With Environmental Protection Agency Sulfur Regulations.--Section 179B
of such Code (relating to deduction for capital costs incurred in
complying with Environmental Protection Agency sulfur regulations) is
amended by adding at the end the following new subsection:
    ``(f) Termination.--This section shall not apply to taxable years
beginning after the date of the enactment of this subsection.''.
    (g) Repeal of Certain Intangible Drilling and Development Costs.--
Subsection (c) of section 263 of such Code (relating to intangible
drilling and development costs in the case of oil and gas wells and
geothermal wells) is amended by adding at the end the following new
sentence: ``This subsection shall not apply to costs incurred after the
date of the enactment of this sentence with respect to any oil or gas
well.''.
    (h) Repeal of Certain Oil and Gas Provisions.--
            (1) In general.--Part I of subchapter I of chapter 1 of
        such Code (relating to deductions) is amended by adding at the
        end the following new section:

``SEC. 618. OIL AND GAS LIMITATION.

    ``This part shall not apply with respect to any expenditure which
relates to any oil or gas well and which is paid or incurred after the
date of the enactment of this section.''.
            (2) Clerical amendment.--The table of sections for part I
        of subchapter I of chapter 1 of such Code is amended by adding
        at the end the following new item:

``Sec. 618. Oil and gas limitation.''.
    (i) Effective Date.--
            (1) In general.--Except as provided in paragraph (2), the
        amendments made by this section shall take effect on the date
        of the enactment of this Act.
            (2) Repeal of credit for producing fuel from a
        nonconventional source.--The amendment made by subsection (e)
        shall apply with respect to fuels sold or produced after the
        date of the enactment of this Act.

SEC. 3. GREENHOUSE GAS INTENSITY REDUCTION INVESTMENT TAX CREDIT.

    (a) In General.--Subpart D of part IV of subchapter A of chapter 1
(relating to business-related credits) is amended by adding at the end
the following new section:

``SEC. 45N. GREENHOUSE GAS INTENSITY REDUCTION INVESTMENT CREDIT.

    ``(a) Allowance of Credit.--
            ``(1) In general.--For purposes of section 38, in the case
        of a taxpayer's investment in a greenhouse gas intensity
        reduction project approved by the Secretary of Energy, the
        greenhouse gas intensity reduction investment credit determined
        under this section for the taxable year is an amount equal to--
                    ``(A) the percentage reduction in greenhouse gas
                intensity certified for such project for such year by
                the Secretary of Energy, multiplied by
                    ``(B) the investment in such project during such
                year which is attributable, directly or indirectly, to
                the taxpayer, as determined by the Secretary of Energy.
            ``(2) Aggregate dollar limitation.--The credit determined
        under paragraph (1) for any taxable year, when added to any
        credit allowed to the taxpayer with respect to the such project
        in any preceding taxable year, shall not exceed 50 percent of
        the investment attributable to the taxpayer with respect to
        such project through such taxable year.
    ``(b) Limitation on Aggregate Credit Allowable.--
            ``(1) In general.--The amount of the greenhouse gas
        intensity reduction investment credit determined under
        subsection (a) for any project, when added to all such credits
        allowed to all taxpayers with respect to the such project shall
        not exceed the credit dollar amount allocated to such project
        under this subsection by the Secretary of Energy from the
        greenhouse gas intensity reduction investment credit limitation
        for the calendar year in which such allocation is made.
            ``(2) Time for making allocation.--An allocation shall be
        taken into account under paragraph (1) only if it is made not
        later than the close of the calendar year in which the
        greenhouse gas intensity reduction project proposal with
        respect to such project is approved by the Secretary of Energy.
            ``(3) Overall limitation on aggregate credit allowable.--
        The Secretary of Energy may allocate the aggregate credit
        dollar amount to any such project for a period not to exceed a
        10-year period beginning with the calendar year described in
        paragraph (2).
    ``(c) Limitation on Amount of Credits Allocated.--
            ``(1) In general.--There is a greenhouse gas intensity
        reduction investment credit limitation amount for each calendar
        year. Except as provided in paragraph (2), such limitation
        amount is $600,000,000 for each of calendar years 2008 through
        2012, and zero thereafter.
            ``(2) Carryover of unused issuance limitation.--If for any
        calendar year the limitation amount imposed by paragraph (1)
        exceeds the amount of greenhouse gas intensity reduction
        investment credits allocated during such year, such excess
        shall be carried forward to the succeeding calendar year as an
        addition to the limitation imposed by paragraph (1).
    ``(d) Greenhouse Gas Intensity Reduction Project; Greenhouse Gas
Intensity.--For purposes of this section--
            ``(1) Greenhouse gas intensity reduction project.--The term
        `greenhouse gas intensity reduction project' means any project
        approved under this section by the Secretary of Energy. Such
        approval shall be based on the following criteria:
                    ``(A) The extent of the reduction in greenhouse gas
                intensity proposed for the project.
                    ``(B) Improvements in system efficiency.
                    ``(C) In the case of projects located outside the
                United States, the extent of technology transfer.
                    ``(D) The existence and nature of agreements for
                sharing project benefits and liability between the
                taxpayer and any host government.
            ``(2) Greenhouse gas intensity.--The greenhouse gas
        intensity for any period is equal to the volume of emissions
        divided by the economic activity associated with a project.
    ``(e) Recapture of Credit in Certain Cases.--
            ``(1) In general.--If, at any time during the 20-year
        period of a greenhouse gas intensity reduction project, there
        is a recapture event with respect to such project, then the tax
        imposed by this chapter for the taxable year in which such
        event occurs shall be increased by the credit recapture amount.
            ``(2) Credit recapture amount.--For purposes of paragraph
        (1)--
                    ``(A) In general.--The credit recapture amount is
                an amount equal to the recapture percentage of all
                greenhouse gas intensity reduction investment credits
                previously allowable to a taxpayer with respect to any
                investment in such project that is attributable to such
                taxpayer.
                    ``(B) Recapture percentage.--The recapture
                percentage shall be 100 percent if the recapture event
                occurs during the first 5 years of the project, 75
                percent if the recapture event occurs during the second
                5 years of the project, 50 percent if the recapture
                event occurs during the third 5 years of the project,
                25 percent if the recapture event occurs during the
                fourth 5 years of the project, and 0 percent if the
                recapture event occurs at any time after the 20th year
                of the project.
            ``(3) Recapture event.--For purposes of paragraph (1),
        there is a recapture event with respect to a greenhouse gas
        intensity reduction project if--
                    ``(A) the taxpayer violates a term or condition of
                the approval of the project by the Secretary of Energy
                at any time,
                    ``(B) the taxpayer adopts a practice which the
                Secretary of Energy has specified in its approval of
                the project as a practice which would tend to defeat
                the purposes of the program, or
                    ``(C) the taxpayer disposes of any ownership
                interest arising out of its investment that the
                Secretary of Energy has determined is attributable to
                the project, unless the Secretary of Energy determines
                that such disposition will not have any adverse effect
                on the greenhouse gas intensity reduction project.
        If an event which otherwise would be a recapture event is
        outside the control of the taxpayer, as determined by the
        Secretary of Energy, such event shall not be treated as a
        recapture event with respect to such taxpayer.
            ``(4) Special rules.--
                    ``(A) Tax benefit rule.--The tax for the taxable
                year shall be increased under paragraph (1) only with
                respect to credits allowed by reason of this section
                which were used to reduce tax liability. In the case of
                credits not so used to reduce tax liability, the
                carryforwards and carrybacks under section 39 shall be
                appropriately adjusted.
                    ``(B) No credits against tax.--Any increase in tax
                under this subsection shall not be treated as a tax
                imposed by this chapter for purposes of determining the
                amount of any credit under this chapter or for purposes
                of section 55.
    ``(f) Disallowance of Double Benefit.--
            ``(1) Basis reduction.--The basis of any investment in a
        greenhouse gas intensity reduction project shall be reduced by
        the amount of any credit determined under this section with
        respect to such investment.
            ``(2) Charitable deduction disallowed.--No deduction shall
        be allowed to a taxpayer under section 170 with respect to any
        contribution which the Secretary of Energy certifies to the
        Secretary of the Treasury constitutes an investment in a
        greenhouse gas intensity reduction project that is attributable
        to such taxpayer.
    ``(g) Certification to Treasury.--The Secretary of Energy shall
certify to the Secretary of the Treasury before January 31 of each year
with respect to each taxpayer which has made an investment in a
greenhouse gas intensity reduction project--
            ``(1) the amount of the greenhouse gas intensity reduction
        investment credit allowable to such taxpayer for the preceding
        calendar year,
            ``(2) whether a recapture event occurred with respect to
        such taxpayer during the preceding calendar year, and
            ``(3) the credit recapture amount, if any, with respect to
        such taxpayer for the preceding calendar year.
    ``(h) Regulations.--The Secretary of the Treasury shall prescribe
such regulations as may be appropriate to carry out this section,
including regulations--
            ``(1) which limit the credit for investments which are
        directly or indirectly subsidized by other Federal benefits,
            ``(2) which prevent the abuse of the provisions of this
        section through the use of related parties, and
            ``(3) which impose appropriate reporting requirements.''.
    (b) Credit Made Part of General Business Credit.--Subsection (b) of
section 38 is amended by striking ``and'' at the end of paragraph (29),
by striking the period at the end of paragraph (30) and inserting ``,
and'', and by adding at the end the following new paragraph:
            ``(31) the greenhouse gas intensity reduction investment
        credit determined under section 45N(a).''.
    (c) Deduction for Unused Credit.--Subsection (c) of section 196 is
amended by striking ``and'' at the end of paragraph (12), by striking
the period at the end of paragraph (13) and inserting ``, and'', and by
adding at the end the following new paragraph:
            ``(14) the greenhouse gas intensity reduction investment
        credit determined under section 45N(a).''.
    (d) Clerical Amendment.--The table of sections for subpart D of
part IV of subchapter A of chapter 1 is amended by adding at the end
the following new item:

``Sec. 45N. Greenhouse gas intensity reduction investment credit.''.
    (e) Effective Date.--The amendments made by this section shall
apply to investments made after December 31, 2007.

Summary: Climate Change Investment Act of 2006 - Repeals provisions of the Internal Revenue Code allowing: (1) an election to expense the cost of certain liquid fuel processing refineries, (2) accelerated amortization of geological and geophysical expenditures, (3) a tax credit for enhanced oil recovery costs. (4) a tax credit for the production of low sulfur diesel fuel. (5) a tax credit for producing fuel from a nonconventional source. (6) a tax deduction for capital costs incurred in complying with certain sulfur regulations. (7) a tax deduction for intangible drilling and development costs for oil and gas wells and geothermal wells. And (8) tax deductions for certain oil and gas well expenditures. Allows a business-related tax credit for investment in a greenhouse gas intensity reduction project approved by the Secretary of Energy.

To repeal tax subsidies enacted by the Energy Policy Act of 2005 for oil and gas and certain other oil and gas subsidies in the Internal Revenue Code of 1986, and to establish a greenhouse gas intensity reduction investment tax credit.


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Recovery Through Building Renovation
Act of 2010''.

SEC. 2. BUILDING EFFICIENCY RETROFIT LOAN CREDIT SUPPORT PROGRAM.

    Title XVII of the Energy Policy Act of 2005 (42 U.S.C. 16511 et
seq.) is amended by adding at the end the following:

``SEC. 1706. BUILDING RETROFIT FINANCING PROGRAM.

    ``(a) Definitions.--In this section:
            ``(1) Credit support.--The term `credit support' means a
        guarantee or commitment to issue a guarantee or other forms of
        credit enhancement to ameliorate risks for efficiency
        obligations.
            ``(2) Efficiency obligation.--The term `efficiency
        obligation' means a debt or repayment obligation incurred in
        connection with financing a project, or a portfolio of such
        debt or payment obligations.
            ``(3) Project.--The term `project' means the installation
        of efficiency or renewable energy measures in a building (or in
        multiple buildings on a given property) that are expected to
        increase the energy efficiency of the building (including
        fixtures) in accordance with criteria established by the
        Secretary.
    ``(b) Eligible Projects.--
            ``(1) In general.--Notwithstanding sections 1703 and 1705,
        the Secretary may provide credit support under this section, in
        accordance with section 1702.
            ``(2) Inclusions.--Buildings eligible for credit support
        under this section include commercial, industrial, municipal,
        university, school, and hospital facilities that satisfy
        criteria established by the Secretary.
    ``(c) Guidelines.--
            ``(1) In general.--Not later than 180 days after the date
        of enactment of this section, the Secretary shall establish
        guidelines for credit support provided under this section.
            ``(2) Requirements.--The guidelines established by the
        Secretary under this subsection shall include--
                    ``(A) standards for assessing the energy savings
                that could reasonably be expected to result from a
                project;
                    ``(B) examples of financing mechanisms (and
                portfolios of such financing mechanisms) that qualify
                as efficiency obligations;
                    ``(C) the threshold levels of energy savings that a
                project, at the time of issuance of credit support,
                shall be reasonably expected to achieve to be eligible
                for credit support;
                    ``(D) the eligibility criteria the Secretary
                determines to be necessary for making credit support
                available under this section; and
                    ``(E) any lien priority requirements that the
                Secretary determines to be necessary.
            ``(3) Efficiency obligations.--The financing mechanisms
        qualified by the Secretary under paragraph (2)(B) may include--
                    ``(A) loans, including loans made by the Federal
                Financing Bank;
                    ``(B) power purchase agreements, including energy
                efficiency power purchase agreements;
                    ``(C) energy services agreements, including energy
                performance contracts;
                    ``(D) property assessed clean energy bonds and
                other tax assessment-based financing mechanisms;
                    ``(E) aggregate on-meter agreements that finance
                retrofit projects; and
                    ``(F) any other efficiency obligations the
                Secretary determines to be appropriate.
            ``(4) Priorities.--In carrying out this section, the
        Secretary shall prioritize--
                    ``(A) the maximization of energy savings with the
                available credit support funding;
                    ``(B) the establishment of a clear application and
                approval process that allows private building owners,
                lenders, and investors to reasonably expect to receive
                credit support for projects that conform to guidelines;
                and
                    ``(C) the distribution of projects receiving credit
                support under this section across States or
                geographical regions of the United States.
            ``(5) Minimum energy savings requirement.--
                    ``(A) In general.--In carrying out this section,
                the Secretary shall establish an initial minimum energy
                savings requirement for eligible projects that, to the
                maximum extent practicable, results in the greatest
                amount of energy savings on a per project basis.
                    ``(B) Adjustments.--
                            ``(i) In general.--Not less than once each
                        year, the Secretary shall adjust the minimum
                        energy savings requirement described in
                        subparagraph (A) and any other credit support
                        terms the Secretary determines to be necessary,
                        including the maximum percentage of the
                        efficiency obligation that may be guaranteed,
                        taking into account market conditions and the
                        available funding.
                            ``(ii) Advanced notice.--If the Secretary
                        adjusts the energy savings requirement, the
                        Secretary shall provide at least 90 days
                        advanced public notice.
    ``(d) Limitation.--Notwithstanding section 1702(c), the Secretary
shall not issue credit support under this section in an amount that
exceeds--
            ``(1) 90 percent of the principal amount of the efficiency
        obligation that is the subject of the credit support; or
            ``(2) $10,000,000 for any single project.
    ``(e) Aggregation of Projects.--To the extent provided in the
guidelines developed in accordance with subsection (c), the Secretary
may issue credit support on a portfolio, or pool of projects, that are
not required to be geographically contiguous, if each efficiency
obligation in the pool fulfills the requirements described in this
section.
    ``(f) Application.--
            ``(1) In general.--To be eligible to receive credit support
        under this section, the applicant shall submit to the Secretary
        an application at such time, in such manner, and containing
        such information as the Secretary determines to be necessary.
            ``(2) Contents.--An application submitted under this
        section shall include assurances by the applicant that--
                    ``(A) each contractor carrying out the project--
                            ``(i) meets minimum experience level
                        criteria, including local retrofit experience,
                        as determined by the Secretary; and
                            ``(ii) beginning on the date on which
                        credit support is issued, will comply with
                        subchapter IV of chapter 31 of title 40, United
                        States Code (commonly known as the ``Davis-
                        Bacon Act'');
                    ``(B) the project is reasonably expected to achieve
                energy savings, as set forth in the application using
                any methodology that meets the standards described in
                the program guidelines;
                    ``(C) the project meets any technical criteria
                described in the program guidelines;
                    ``(D) the recipient of the credit support and the
                parties to the efficiency obligation will provide the
                Secretary with--
                            ``(i) any information the Secretary
                        requests to assess the energy savings that
                        result from the project, including historical
                        energy usage data and detailed descriptions of
                        the building work, as described in the program
                        guidelines; and
                            ``(ii) permission to access information
                        relating to building operations and usage for
                        the period described in the program guidelines;
                        and
                    ``(E) any other assurances that the Secretary
                determines to be necessary.
            ``(3) Determination.--Not later than 90 days after
        receiving an application, the Secretary shall make a final
        determination on the application, which may include requests
        for additional information.
    ``(g) Fees.--
            ``(1) In general.--In addition to the fees required by
        section 1702(h)(1), the Secretary may charge reasonable fees
        for credit support provided under this section.
            ``(2) Availability.--Fees collected under this section
        shall be subject to section 1702(h)(2).
    ``(h) Underwriting.--The Secretary may delegate the underwriting
activities under this section to 1 or more entities that the Secretary
determines to be qualified.
    ``(i) Report.--Not later than 1 year after commencement of the
program, the Secretary shall submit to the appropriate committees of
Congress a report that describes in reasonable detail--
            ``(1) the manner in which this section is being carried
        out;
            ``(2) the number and type of projects supported;
            ``(3) the types of funding mechanisms used to provide
        credit support to projects;
            ``(4) the energy savings expected to result from projects
        supported by this section;
            ``(5) any tracking efforts the Secretary is using to
        calculate the actual energy savings produced by the projects;
        and
            ``(6) any plans to improve the tracking efforts described
        in paragraph (5).
    ``(j) Funding.--
            ``(1) Authorization of appropriations.--There is authorized
        to be appropriated to the Secretary to carry out this section
        $500,000,000 for the period of fiscal years 2011 through 2020,
        to remain available until expended.
            ``(2) Administrative costs.--Not more than 1 percent of any
        amounts made available to the Secretary under paragraph (1) may
        be used by the Secretary for administrative costs incurred in
        carrying out this section.''.

SEC. 3. MUSH BUILDING REVOLVING FUND.

    (a) Definitions.--In this section:
            (1) Project.--The term ``project'' means an energy
        efficiency retrofit project that meets the terms of this
        section and criteria determined to be necessary by the
        Secretary.
            (2) Secretary.--The term ``Secretary'' means the Secretary
        of Energy.
            (3) State.--The term ``State'' has the meaning given the
        term in section 412 of the Energy Conservation and Production
        Act (42 U.S.C. 6862).
    (b) Establishment.--The Secretary shall establish the MUSH Building
Efficiency Program to provide grants to State revolving funds to
finance projects.
    (c) Eligibility.--To be eligible to receive a grant under this
program, a State shall have, or propose to establish, a program to
finance or support building improvement projects on buildings that are
owned or controlled by--
            (1) a municipality;
            (2) a State or public university, including a community
        college;
            (3) a school or school district, including a technical
        school or a vocational school; and
            (4) a State, city, or other publicly owned hospital.
    (d) Terms and Conditions.--
            (1) In general.--As a condition of receiving a grant under
        this section, a State shall--
                    (A) develop technical energy assessment report
                guidelines for each project to be carried out under
                this section;
                    (B) develop procedures--
                            (i) to monitor energy consumption prior to,
                        and for at least 3 years after, the completion
                        of each project carried out using State
                        revolving funds;
                            (ii) to make data publicly available in
                        aggregated summary reports regarding the
                        performance of each project carried out using
                        State revolving funds; and
                            (iii) to analyze energy savings, in
                        kilowatt hours and dollars, before and for at
                        least 3 years after the completion of each
                        project carried out using State revolving
                        funds; and
                    (C) incorporate training on audit techniques in any
                guidelines or procedures developed for State revolving
                funds that receive a grant under this section.
            (2) Maximum repayment term.--A State receiving a grant
        under this section shall not enter into any obligations with a
        repayment term that exceeds 15 years.
            (3) Conflict of interest.--A commissioning organization or
        individual that receives compensation for professional services
        relating to a project carried out under this section shall not
        acquire any direct or indirect financial interest in the sale
        of energy efficiency equipment or products that are directly
        related to the project.
    (e) Report.--Not later than 1 year after commencement of the MUSH
Building Efficiency Program, the Secretary shall submit to the
appropriate committees of Congress a report that--
            (1) describes in detail the manner in which this section
        has been carried out;
            (2) aggregates the project performance data of the State
        programs receiving a grant under this section; and
            (3) includes any recommendations of the Secretary on
        modifications that may improve the grant program.
    (f) Authorization of Appropriations.--There are authorized to be
appropriated to carry out this section such sums as are necessary.

SEC. 4. ENERGY EFFICIENCY SUPPORT PROGRAM.

    (a) Definitions.--In this section:
            (1) Project.--The term ``project'' means an energy
        efficiency retrofit project that meets the criteria described
        in subsection (c).
            (2) Secretary.--The term ``Secretary'' means the Secretary
        of Energy.
    (b) Establishment.--The Secretary shall establish a program that
provides grants to State or tribal governments to support property
assessed clean energy bonds and other tax assessment-based financing
mechanisms to support building retrofits that meet the criteria
described in subsection (c).
    (c) Authorization, Terms, and Conditions.--
            (1) Authorization.--
                    (A) In general.--In carrying out this section, the
                Secretary shall provide grants to capitalize loan loss
                reserves for property assessed clean energy bonds and
                other tax assessment-based financing mechanisms managed
                by State or tribal governments.
                    (B) Maximum.--No eligible entity shall receive a
                grant under this section that exceeds a total amount of
                $10,000,000.
            (2) Eligible programs.--
                    (A) In general.--A grant under this section shall
                be used to finance building retrofit projects that are
                expected to produce significant energy efficiency
                gains.
                    (B) Use of funds.--A State or tribal government
                that receives a grant under this section shall use the
                funds to provide credit enhancements or establish other
                loan loss reserve funds approved by the Secretary.
                    (C) Conditions.--As a condition of receiving a
                grant under this section, a State or tribal government
                shall provide to the Secretary such assurances as the
                Secretary determines to be necessary, including
                assurances that the State or tribal government shall--
                            (i) provide support for each financing
                        mechanism approved by the Secretary, including
                        property assessed clean energy bonds and tax
                        lien financing;
                            (ii) for each project receiving financial
                        assistance under this section, develop
                        comprehensive procedures for--
                                    (I) monitoring energy consumption
                                prior to the commencement of, and at
                                least 3 years after completion of, each
                                project;
                                    (II) analyzing energy savings
                                achieved, measured in kilowatt hours
                                and dollars, prior to the commencement
                                of, and at least 3 years after
                                completion of, each project; and
                                    (III) making data recorded from
                                each project publicly available in
                                aggregated summary reports describing
                                the performance of each project; and
                    (D) incorporate training on audit techniques in any
                guidelines developed for the capital loan loss
                reserves.
    (d) Program Coordination and Aggregation.--Subject to subsection
(c)(1) and approval of the Secretary, eligible State or tribal
governments may combine grants provided under this section to create
multijurisdictional programs to support projects that meet the
requirements of this section.
    (e) Report.--Not later than 1 year after the commencement of the
program, the Secretary shall submit to the appropriate committees of
Congress a report that--
            (1) describes in detail the manner in which this section
        has been carried out;
            (2) aggregates the project performance data of the State,
        local, and tribal government programs receiving funding under
        this section; and
            (3) includes any recommendations of the Secretary on
        modifications that may improve the grant program.
    (f) Authorization of Appropriations.--There are authorized to be
appropriated to carry out this section such sums as are necessary.

Summary: Recovery Through Building Renovation Act of 2010 - Amends the Energy Policy Act of 2005 to authorize the Secretary of Energy (DOE) to provide credit support for debt or repayment obligations incurred in connection with financing the installation of efficiency or renewable energy measures in commercial, industrial, municipal, university, school, and hospital facilities. Directs the Secretary to establish guidelines for such credit support, including: (1) standards for assessing, and threshold levels for, the expected energy savings, (2) examples of financing mechanisms that qualify as efficiency obligations, (3) eligibility criteria. And (4) lien priority requirements. Requires the Secretary to prioritize: (1) the maximization of energy savings with the available credit support funding, (2) the establishment of a clear application and approval process. And (3) the distribution of projects receiving credit support across states or geographical regions. Directs the Secretary to: (1) establish an initial minimum energy savings requirement for eligible projects that results in the greatest amount of energy savings on a per project basis. And (2) annually adjust that requirement and any other credit support terms deemed necessary taking into account market conditions and available funding. Limits credit support to 90 of the principal amount of the efficiency obligation or $10 million for any single project. Authorizes the Secretary to charge reasonable fees for such credit support. Directs the Secretary to establish: (1) the MUSH Building Efficiency Program to provide grants to state revolving funds to finance energy efficiency retrofit projects for buildings that are owned or controlled by a municipality, a state or public university, a school or school district, or a publicly owned hospital. And (2) a program that provides grants to state or tribal governments to support property assessed clean energy bonds and other tax assessment-based financing mechanisms to support building retrofit projects expected to produce significant energy efficiency gains.

A bill to establish a building efficiency retrofit loan credit support program, a State building revolving fund grant program, and a commercial and large building grant program.


SECTION 1. GRANTS TO STATES AND UNITS OF LOCAL GOVERNMENT FOR MAKING
              BACKUP PAPER BALLOTS AVAILABLE IN CASE OF VOTING SYSTEM
              OR EQUIPMENT FAILURE OR OTHER EMERGENCY SITUATION.

    (a) Grants by Election Assistance Commission.--The Election
Assistance Commission (hereafter referred to as the ``Commission'')
shall establish a program under which the Commission shall make a grant
to each participating State and each participating unit of local
government for carrying out a program to make backup paper ballots
available in the case of the failure of a voting system or voting
equipment or some other emergency situation in the administration of
the regularly scheduled general election for Federal office held in
November 2008.
    (b) Requirements for Eligibility.--
            (1) Application.--A State or unit of local government is
        eligible to participate in the program established by the
        Commission under this Act if the State or unit of local
        government submits an application to the Commission at such
        time and in such manner as the Commission shall require, and
        includes in the application--
                    (A) a certification that the State or unit of local
                government has established a program that meets the
                requirements of paragraph (2) to make backup paper
                ballots available in the case of the failure of a
                voting system or voting equipment or some other
                emergency situation;
                    (B) a statement of the reasonable costs the State
                or unit of local government expects to incur in
                carrying out its program;
                    (C) a certification that, not later than 60 days
                after the date of the election, the State or unit of
                local government will provide the Commission with a
                statement of the actual costs incurred in carrying out
                its program;
                    (D) a certification that the State or unit of local
                government will repay the Commission any amount by
                which the payment made under this Act exceeds the
                actual costs incurred in carrying out its program; and
                    (E) such other information and certifications as
                the Commission may require.
            (2) Program requirements.--The requirements of this
        paragraph for a program to make backup paper ballots available
        in the case of the failure of a voting system or voting
        equipment or some other emergency situation are as follows:
                    (A) In the event that the voting equipment at a
                polling place malfunctions and cannot be used to cast
                ballots on the date of the election or some other
                emergency situation exists which prevents the use of
                such equipment to cast ballots on that date, any
                individual who is waiting at the polling place on that
                date to cast a ballot in the election and who would be
                delayed due to such malfunction or other emergency
                situation shall be notified by the appropriate election
                official of the individual's right to use a backup
                paper ballot, and shall be provided with a backup paper
                ballot for the election, the supplies necessary to mark
                the ballot, and instructions on how to mark the ballot
                to prevent overvotes.
                    (B) Any backup paper ballot which is cast by an
                individual pursuant to the program of a State or unit
                of local government shall be counted as a regular
                ballot cast in the election and tabulated on the date
                of the election, and shall not be treated (for
                eligibility purposes) as a provisional ballot under
                section 302(a) of the Help America Vote Act of 2002,
                unless the individual casting the ballot would have
                otherwise been required to cast a provisional ballot if
                the voting equipment at the polling place had not
                malfunctioned or an emergency situation had not existed
                which prevented the use of such equipment to cast
                ballots.
                    (C) The program of a State or unit of local
                government is carried out in accordance with standards
                established by the State or unit of local government
                which include protocols for delivering and supplying
                backup paper ballots to polling places and for
                notifying individuals of the right to use the backup
                paper ballots.
    (c) Amount of Grant.--The amount of a grant made to a State or unit
of local government under the program established by the Commission
under this Act shall be equal to the amount of the reasonable costs the
State or unit of local government expects to incur in carrying out its
program, as provided in the application under subsection (b)(1)(B).

SEC. 2. STATE DEFINED.

    In this Act, the term ``State'' includes the District of Columbia,
the Commonwealth of Puerto Rico, Guam, American Samoa, and the United
States Virgin Islands.

SEC. 3. AUTHORIZATION OF APPROPRIATIONS.

    There are authorized to be appropriated for grants under the
program established by the Commission under this Act $75,000,000. Any
amount appropriated pursuant to the authority of this section shall
remain available without fiscal year limitation until expended.

Summary: Directs the Election Assistance Commission to make a grant to each participating state and unit of local government for carrying out a program to make backup paper ballots available in the case of the failure of a voting system or voting equipment or some other emergency situation in the administration of the regularly scheduled federal general election held in November 2008.

To direct the Election Assistance Commission to establish a program to make grants to participating States and units of local government which will administer the regularly scheduled general election for Federal office held in November 2008 for carrying out a program to make backup paper ballots available in the case of the failure of a voting system or voting equipment in the election or some other emergency situation, and for other purposes.


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Chemical Facility Anti-Terrorism
Security Authorization Act of 2011''.

SEC. 2. CHEMICAL FACILITY ANTI-TERRORISM SECURITY REGULATIONS.

    (a) In General.--The Homeland Security Act of 2002 (6 U.S.C. 101 et
seq.) is amended by adding at the end the following new title:

   ``TITLE XXI--CHEMICAL FACILITY ANTI-TERRORISM SECURITY REGULATIONS

``SEC. 2101. CHEMICAL FACILITY ANTI-TERRORISM SECURITY REGULATIONS.

    ``(a) In General.--The Secretary shall maintain, and revise as
necessary, regulations to protect chemical facilities against terrorism
and potential terrorist attacks. Such regulations shall include--
            ``(1) risk-based performance standards for chemical
        facility security;
            ``(2) requirements for chemical facility security
        vulnerability assessments; and
            ``(3) requirements for the development and implementation
        of chemical facility site security plans.
    ``(b) Facilities Regulated.--The regulations required by subsection
(a) shall apply to any chemical facility that the Secretary determines
presents a high level of security risk with respect to acts of
terrorism, except that the Secretary may not apply such regulations to
any of the following:
            ``(1) Any facility owned or operated by the Department of
        Defense.
            ``(2) Any facility owned or operated by the Department of
        Energy.
            ``(3) Any facility subject to regulation by the Nuclear
        Regulatory Commission.
            ``(4) Any facility regulated under chapter 701 of title 46,
        United States Code.
            ``(5) A public water system, as such term is defined by
        section 1401(4) of the Safe Drinking Water Act (42 U.S.C.
        300f(4)).
            ``(6) A treatment works, as such term is defined by section
        212(2) of the Federal Water Pollution Control Act (33 U.S.C.
        1292(2)).
    ``(c) Security Measures.--The regulations required by subsection
(a) shall provide that each such facility, in developing and
implementing site security plans, be permitted to select layered
security measures that, in combination, appropriately address the
vulnerability assessment and the risk-based performance standards for
security for the facility.
    ``(d) Review.--
            ``(1) In general.--The Secretary shall review and approve
        or disapprove each vulnerability assessment and site security
        plan required under this title or by the regulations required
        by subsection (a).
            ``(2) Standards for disapproval.--The Secretary may not
        disapprove such a site security plan based on the presence or
        absence of a particular security measure, but the Secretary may
        disapprove such a site security plan if the plan fails to
        satisfy the risk-based performance standards established by the
        Secretary.
            ``(3) Deadline for notification.--Beginning after the
        Secretary publishes final regulations to implement this
        section, not later than 180 days, to the greatest extent
        practicable, after the date on which the Secretary receives a
        security vulnerability assessment or site security plan under
        this title, the Secretary shall review and approve or
        disapprove such assessment or plan and notify the covered
        chemical facility of such approval or disapproval.
            ``(4) Notification of disapproval.--If the Secretary
        disapproves the security vulnerability assessment or site
        security plan submitted by a covered chemical facility under
        this title or the implementation of a site security plan by
        such a chemical facility, the Secretary shall provide the owner
        or operator of the covered chemical facility a written
        notification of the disapproval not later than 14 days after
        the date on which the Secretary disapproves such assessment or
        plan, that--
                    ``(A) includes a clear explanation of deficiencies
                in the assessment, plan, or implementation of the plan;
                and
                    ``(B) requires the owner or operator of the covered
                chemical facility to revise the assessment or plan to
                address any deficiencies and, by such date as the
                Secretary determines is appropriate, to submit to the
                Secretary the revised assessment or plan.
            ``(5) Reporting.--The Secretary shall submit to the
        Committee on Homeland Security of the House of Representatives
        and the Committee on Homeland Security and Government Affairs
        of the Senate, on an annual basis, information on the number of
        instances during the year covered by the report where the
        Secretary determined that the 180 day notification requirement
        under paragraph (3) was impracticable.
    ``(e) Alternative Security Programs.--The Secretary may approve any
alternative security program established by a private sector entity or
Federal, State, or local authority, or under another applicable law, if
the Secretary determines that the requirements of such program meets
the requirements of this title and any regulations issued or maintained
pursuant to this title.
    ``(f) Security Background Checks.--In any personnel surety
regulation issued by the Secretary pursuant to subsection (a), the
Secretary shall include provisions on how an owner or operator of a
covered chemical facility can meet, in whole or in part, the
requirements set forth in such regulations by submitting--
            ``(1) information on an employee or individual holding a
        valid transportation security card issued under section 70105
        of title 46, United States Code;
            ``(2) an alternate security background check conducted by a
        private sector entity, including the owner and operator of a
        covered chemical facility and a non-profit personnel surety
        accrediting organization; and
            ``(3) an alternate security background check conducted
        under another applicable law.
    ``(g) Technical Assistance to Small Businesses.--The Secretary
shall provide technical assistance to any owner or operator of a
covered chemical facility who requests such assistance to prepare a
security vulnerability assessment or site security plan required under
this title or by the regulations required by subsection (a), if the
covered chemical facility is a small business concern, under the
meaning given that term in section 3 of the Small Business Act (15
U.S.C. 632).

``SEC. 2102. INFORMATION PROTECTION.

    ``(a) In General.--Notwithstanding any other provision of law,
information developed pursuant to this title, or pursuant to the
regulations required by section 2101(a), including vulnerability
assessments, site security plans, and other security related
information, records, and documents shall be given protections from
public disclosure consistent with similar information developed by
chemical facilities subject to regulation under section 70103 of title
46, United States Code.
    ``(b) Sharing of Information.--
            ``(1) State and local governments.--This section does not
        prohibit the sharing of such information, as the Secretary
        determines appropriate, with State and local government
        officials possessing the appropriate security clearances,
        including emergency response providers, for the purpose of
        carrying out this title, as long as such information may not be
        disclosed pursuant to any State or local law.
            ``(2) Congress.--Nothing in this title shall permit or
        authorize the withholding of information from Congress or any
        committee or subcommittee thereof.
    ``(c) Administrative and Judicial Proceedings.--In any proceeding
to enforce this title, vulnerability assessments, site security plans,
and other information submitted to or obtained by the Secretary under
this title, and related vulnerability or security information, shall be
treated as if the information were classified material.

``SEC. 2103. ENFORCEMENT.

    ``(a) In General.--The Secretary shall audit and inspect chemical
facilities subject to regulation under this title for the purposes of
determining compliance with this title and the regulations required by
section 2101(a).
    ``(b) Orders for Compliance.--If the Secretary determines that a
chemical facility is not in compliance with this title or the
regulations required by section 2101(a), the Secretary shall provide
the owner or operator of the facility with written notification
(including a clear explanation of deficiencies in the vulnerability
assessment and site security plan) and an opportunity for consultation,
and issue an order to comply by such date as the Secretary determines
to be appropriate under the circumstances.
    ``(c) Civil Penalties.--Any person who violates an order issued
under this title shall be liable for a civil penalty under section
70119(a) of title 46, United States Code.
    ``(d) Order To Cease Operation.--If the owner or operator of a
chemical facility subject to regulation under this title continues to
be in noncompliance, the Secretary may issue an order for the facility
to cease operation until the owner or operator complies with the order.
    ``(e) Exception.--Nothing in this title confers upon any person
except the Secretary a right of action against an owner or operator of
a chemical facility to enforce any provision of this title.

``SEC. 2104. JOBS IMPACT.

    ``Not later than one year after the date of the enactment of this
title, and annually thereafter, the Secretary shall submit to the
Committee on Homeland Security of the House of Representatives and the
Committee on Homeland Security and Governmental Affairs of the Senate a
report that, at a minimum, includes--
            ``(1) an estimate of the potential jobs created or lost
        within the private sector as a result of the regulations
        required under section 2101 of this title; and
            ``(2) information on feedback received from owners and
        operators of covered chemical facilities about how the
        regulations required under section 2101 of this title could be
        revised to spur potential job creation or stem job losses.

``SEC. 2105. SCOPE.

    ``Nothing in this title shall be construed to supersede, amend,
alter, or affect any Federal law that regulates the manufacture,
distribution in commerce, use, sale, other treatment, or disposal of
chemical substances or mixtures.

``SEC. 2106. PREEMPTION.

    ``This title shall not preclude or deny any right of any State or
political subdivision thereof to adopt or enforce any regulation,
requirement, or standard of performance with respect to chemical
facility security that is more stringent than a regulation,
requirement, or standard of performance required under this title, or
otherwise impair any right or jurisdiction of any State with respect to
chemical facilities within that State, unless there is an actual
conflict between this title and the law of that State.

``SEC. 2107. TERMINATION.

    ``The authority provided by this title shall terminate on September
30, 2018.

``SEC. 2108. AUTHORIZATION OF APPROPRIATIONS.

    ``There is authorized to be appropriated to the Secretary to carry
out this title $89,928,000 for each of fiscal years 2012 through
2018.''.
    (b) Table of Contents.--The table of contents in section 1(b) of
the Homeland Security Act of 2002 (6 U.S.C. 101 et seq.) is amended by
adding at the end the following new items:

   ``TITLE XXI--CHEMICAL FACILITY ANTI-TERRORISM SECURITY REGULATIONS

``Sec. 2101. Chemical facility anti-terrorism security regulations.
``Sec. 2102. Information protection.
``Sec. 2103. Enforcement.
``Sec. 2104. Jobs Impact.
``Sec. 2105. Scope.
``Sec. 2106. Preemption.
``Sec. 2107. Termination.
``Sec. 2108. Authorization of appropriations.''.

SEC. 3. CONFORMING REPEAL.

    (a) Repeal.--The Department of Homeland Security Appropriations
Act, 2007 (Public Law 109-295) is amended by striking section 550.
    (b) Effective Date.--The amendment made by subsection (a) shall
take effect on the date of the enactment of this Act.

SEC. 4. HARMONIZATION.

    Not later than 180 days after the date of the enactment of this
Act, the Secretary of Homeland Security shall submit to Committee on
Homeland Security of the House of Representatives and the Committee on
Commerce, Science, and Transportation of the Senate a report on the
extent to which the security requirements under title XXI of the
Homeland Security Act of 2002, as added by this Act, have been
harmonized with the security requirements for facilities regulated
under chapter 701 of title 46, United States Code.

Summary: Chemical Facility Anti-Terrorism Security Authorization Act of 2011 - Amends the Homeland Security Act of 2002 to require the Secretary of Homeland Security (DHS) to maintain regulations to protect chemical facilities against terrorism, which shall include: (1) risk-based performance standards for facility security, (2) requirements for facility security vulnerability assessments, and (3) requirements for the development and implementation of facility site security plans. Applies such regulations to any chemical facility that the Secretary determines presents a high level of security risk with respect to acts of terrorism, with the exception of Department of Defense (DOD) and Department of Energy (DOE) facilities, facilities regulated by the Nuclear Regulatory Commission (NRC), port security facilities, public water systems, and treatment works. Requires such regulations to provide that each facility be permitted to select layered security measures that, in combination, appropriately address the vulnerability assessment and risk-based performance standards. Directs the Secretary to approve or disapprove each assessment and site security plan. Prohibits the Secretary from disapproving such a plan based on the presence or absence of a particular security measure, but allows the Secretary to disapprove a plan that fails to satisfy performance standards. Requires the Secretary to: (1) approve or disapprove a security vulnerability assessment or site security plan after publishing final regulations and no later than 180 days after receipt, and (2) provide to a facility owner or operator no later than 14 days after such disapproval written notification that includes a clear explanation of deficiencies and that requires the owner or operator to make revisions to address deficiencies by an appropriate date. Authorizes the Secretary to approve an alterative security program established by a private sector entity or federal, state, or local authority, or established under another applicable law, if the Secretary determines that the requirements of such program meet the requirements of this Act. Requires the Secretary to include in any personnel surety regulation issued pursuant to this Act provisions on how a facility owner or operator can meet regulation requirements by submitting: (1) information on an employee or individual holding a valid transportation security card, (2) an alternate security background check conducted by a private sector entity, and (3) an alternate security background check conducted under another applicable law. Directs the Secretary to provide, upon request, to any owner or operator of a covered chemical facility that is a small business concern technical assistance to prepare a security vulnerability assessment or site security plan. Requires information developed pursuant to this Act to be protected from public disclosure but permits information sharing with state and local government officials under specified circumstances. Directs the Secretary to audit and inspect chemical facilities and order compliance with such regulations. Imposes civil penalties for violations. Authorizes the Secretary to issue an order for a facility not in compliance to cease operations. Requires the Secretary to report annually on: (1) an estimate of the potential jobs created or lost within the private sector as a result of the regulations required under this Act, and (2) information on feedback from facility owners and operators about how the regulations could be revised to spur potential job creation or stem job losses. Terminates this Act on September 30, 2018. Authorizes appropriations for FY2012-FY2018. Repeals similar provisions of the Department of Homeland Security Appropriations Act, 2007. Directs the Secretary to report on the extent to which the security requirements added by this Act have been harmonized with security requirements for facilities regulated under existing port security provisions.

To amend the Homeland Security Act of 2002 to codify the requirement that the Secretary of Homeland Security maintain chemical facility anti-terrorism security regulations.