SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Savings for Seniors Act of 2017''.

SEC. 2. INTERIM PROTECTIONS FOR SOCIAL SECURITY TRUST FUND SURPLUS.

    (a) In General.--Section 201(d) of the Social Security Act (42
U.S.C. 402(d)) is amended--
            (1) by striking ``It shall be the duty'' and inserting
        ``(1) Except as provided in paragraph (2), it shall be the
        duty''; and
            (2) by adding at the end the following new paragraph:
    ``(2)(A) There is established in the Federal Old-Age and Survivors
Insurance Trust Fund a Social Security Surplus Protection Account. As
soon as practicable after each fiscal year after fiscal year 2017, the
Managing Trustee shall transfer to the Account, from amounts otherwise
available in the Trust Fund, amounts equivalent to the social security
surplus for such fiscal year. Such amounts shall be transferred from
time to time to the Account, such amounts to be determined on the basis
of estimates by the Managing Trustee, and proper adjustments shall be
made in amounts subsequently transferred to the extent prior estimates
were in excess of or were less than the correct amount.
    ``(B) For purposes of subparagraph (A), the term `social security
surplus' means, for any fiscal year, the excess, if any, of--
            ``(i) the sum of--
                    ``(I) the taxes imposed for such fiscal year by
                chapter 21 (other than sections 3101(b) and 3111(b)) of
                the Internal Revenue Code of 1986 with respect to wages
                (as defined in section 3121 of such Code) reported to
                the Secretary of the Treasury or his delegates pursuant
                to subtitle F of such Code, as determined by the
                Secretary of the Treasury by applying the applicable
                rates of tax under such chapter 21 (other than sections
                3101(b) and 3111(b)) to such wages, less the amounts
                specified in clause (1) of subsection (b) of this
                section for such fiscal year,
                    ``(II) the taxes imposed by chapter 2 (other than
                section 1401(b)) of the Internal Revenue Code of 1986
                with respect to self-employment income (as defined in
                section 1402 of such Code) reported to the Secretary of
                the Treasury on tax returns under subtitle F of such
                Code, as determined by the Secretary of the Treasury by
                applying the applicable rate of tax under such chapter
                (other than section 1401(b)) to such self-employment
                income, less the amounts specified in clause (2) of
                subsection (b) of this section for such fiscal year,
                and
                    ``(III) the amount equivalent to the aggregate
                increase in tax liabilities under chapter 1 of the
                Internal Revenue Code of 1986 which is attributable to
                the application of sections 86 and 871(a)(3) of such
                Code to payments from the Trust Fund, over
            ``(ii) the sum of--
                    ``(I) benefits paid from the Trust Fund during the
                fiscal year, and
                    ``(II) amounts authorized to be made available from
                the Trust Fund under subsection (g) of this section
                which are paid from the Trust Fund during such fiscal
                year.
    ``(C) Notwithstanding paragraph (1), the balance in the Account
shall not be available for investment by the Managing Trustee.
    ``(D)(i) The preceding provisions of this paragraph shall not apply
with respect to fiscal years commencing with or after the first fiscal
year, after fiscal year 2017, for which a provision of Federal law
takes effect and authorizes, for amounts in the Trust Fund, an
investment vehicle other than obligations of the United States
resulting in the transfer of Trust Fund assets to the general fund of
the Treasury.
    ``(ii) A provision of Federal law shall be deemed to meet the
requirements of clause (i) if such provision includes the the
following: `This Act shall be considered to be a provision of Federal
law meeting the requirements of section 201(d)(2)(D)(i) of the Social
Security Act.'.''.

SEC. 3. SOCIAL SECURITY INVESTMENT COMMISSION.

    (a) Establishment.--There is established in the executive branch of
the Government a Social Security Investment Commission.
    (b) Study and Report.--As soon as practicable after the date of the
enactment of this Act, the Commission shall conduct a study to
ascertain the most effective vehicles for investment of the Federal
Old-Age and Survivors Insurance Trust Fund, other than investment in
the form of obligations of the United States resulting in the transfer
of Trust Fund assets to the general fund of the Treasury. Not later
than October 1, 2017, the Commission shall submit a report to the
President and to each House of the Congress setting forth its
recommendations for such vehicles for investment, together with
proposals for such administrative and legislative changes as the
Commission determines necessary to authorize and implement such
recommendations.
    (c) Composition.--The Commission shall be composed of--
            (1) 3 members appointed by the President, of whom 1 shall
        be designated by the President as Chairman;
            (2) 2 members appointed by the Speaker of the House of
        Representatives;
            (3) 1 member appointed by the minority leader of the House
        of Representatives;
            (4) 2 members appointed by the majority leader of the
        Senate; and
            (5) 1 member appointed by the minority leader of the
        Senate.
    (d) Membership Requirements.--Members of the Commission shall have
substantial experience, training, and expertise in the management of
financial investments and pension benefit plans.
    (e) Length of Appointments.--Members of the Commission shall serve
for the life of the Commission. A vacancy on the Commission shall be
filled in the manner in which the original appointment was made and
shall be subject to any conditions that applied with respect to the
original appointment.
    (f) Administrative Provisions.--
            (1) Meetings.--The Commission shall meet--
                    (A) not less than once during each month; and
                    (B) at additional times at the call of the
                Chairman.
            (2) Exercise of powers.--
                    (A) In general.--The Commission shall perform the
                functions and exercise the powers of the Commission on
                a majority vote of a quorum of the Commission. Three
                members of the Commission shall constitute a quorum for
                the transaction of business.
                    (B) Vacancies.--A vacancy on the Commission shall
                not impair the authority of a quorum of the Commission
                to perform the functions and exercise the powers of the
                Commission.
    (g) Compensation.--
            (1) In general.--Each member of the Commission who is not
        an officer or employee of the Federal Government shall be
        compensated at the daily rate of basic pay for level IV of the
        Executive Schedule for each day during which such member is
        engaged in performing a function of the Commission.
            (2) Expenses.--A member of the Commission shall be paid
        travel, per diem, and other necessary expenses under subchapter
        I of chapter 57 of title 5, United States Code, while traveling
        away from such member's home or regular place of business in
        the performance of the duties of the Commission.
    (h) Termination.--The Commission shall terminate 90 days after the
date of the submission of its report pursuant to subsection (b).

Summary: Savings for Seniors Act of 2017 This bill amends title II (OASDI) of the Social Security Act to establish in the Federal Old-Age and Survivors Insurance Trust Fund a Social Security Surplus Protection Account. The Managing Trustee of the Social Security trust funds must: (1) transfer annual Social Security surpluses to the account. And (2) may not invest the balance in the account until a law takes effect after FY2017 that authorizes, for amounts in the trust fund, an investment vehicle other than US obligations resulting in the transfer of trust fund assets to the general fund of the Treasury. The bill establishes in the executive branch a commission to study the most effective vehicles for investment of the Federal Old-Age and Survivors Insurance Trust Fund other than investments in the form of US obligations.

Savings for Seniors Act of 2017


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Taiwan Airpower Modernization Act of
2011''.

SEC. 2. FINDINGS.

    Congress makes the following findings.
            (1) The Department of Defense, in its 2011 report to
        Congress on ``Military and Security Developments Involving the
        People's Republic of China,'' found that ``China continued
        modernizing its military in 2010, with a focus on Taiwan
        contingencies, even as cross-Strait relations improved. The PLA
        seeks the capability to deter Taiwan independence and influence
        Taiwan to settle the dispute on Beijing's terms. In pursuit of
        this objective, Beijing is developing capabilities intended to
        deter, delay, or deny possible U.S. support for the island in
        the event of conflict. The balance of cross-Strait military
        forces and capabilities continues to shift in the mainland's
        favor.'' In this report, the Department of Defense also
        concludes that, over the next decade, China's air force will
        remain primarily focused on ``building the capabilities
        required to pose a credible military threat to Taiwan and U.S.
        forces in East Asia, deter Taiwan independence, or influence
        Taiwan to settle the dispute on Beijing's terms''.
            (2) The Defense Intelligence Agency (DIA) conducted a
        preliminary assessment of the status and capabilities of
        Taiwan's air force in an unclassified report, dated January 21,
        2010. The DIA found that, ``[a]lthough Taiwan has nearly 400
        combat aircraft in service, far fewer of these are
        operationally capable.'' The report concluded, ``Many of
        Taiwan's fighter aircraft are close to or beyond service life,
        and many require extensive maintenance support. The retirement
        of Mirage and F-5 aircraft will reduce the total size of the
        Taiwan Air Force.''
            (3) Since 2006, authorities from Taiwan have made repeated
        requests to purchase 66 F-16C/D multirole fighter aircraft from
        the United States, in an effort to modernize the air force of
        Taiwan and maintain its self-defense capability.
            (4) According to a report by the Perryman Group, a private
        economic research and analysis firm, the requested sale of F-
        16C/Ds to Taiwan ``would generate some $8,700,000,000 in output
        (gross product) and more than 87,664 person-years of employment
        in the US,'' including 23,407 direct jobs, while ``economic
        benefits would likely be realized in 44 states and the District
        of Columbia''.
            (5) The sale of F-16C/Ds to Taiwan would both sustain
        existing high-skilled jobs in key United States manufacturing
        sectors and create new ones.
            (6) On August 1, 2011, a bipartisan group of 181 members of
        the House of Representatives sent a letter to the President,
        expressing support for the sale of F-16C/Ds to Taiwan. On May
        26, 2011, a bipartisan group of 45 members of the Senate sent a
        similar letter to the President, expressing support for the
        sale. Two other members of the Senate wrote separately to the
        President or the Secretary of State in 2011 and expressed
        support for this sale.

SEC. 3. SENSE OF CONGRESS.

    It is the sense of Congress that--
            (1) a critical element to maintaining peace and stability
        in Asia in the face of China's two-decade-long program of
        military modernization and expansion of military capabilities
        is ensuring a militarily strong and confident Taiwan;
            (2) a Taiwan that is confident in its ability to deter
        Chinese aggression will increase its ability to proceed in
        developing peaceful relations with China in areas of mutual
        interest;
            (3) the cross-Strait military balance between China and our
        longstanding strategic partner, Taiwan, has clearly shifted in
        China's favor;
            (4) China's military expansion poses a clear and present
        danger to Taiwan, and this threat has very serious implications
        for the ability of the United States to fulfill its security
        obligations to allies in the region and protect our vital
        United States national interests in East Asia;
            (5) Taiwan's air force continues to deteriorate, and it
        needs additional advanced multirole fighter aircraft in order
        to modernize its fleet and maintain a sufficient self-defense
        capability;
            (6) the United States has a statutory obligation under the
        Taiwan Relations Act (22 U.S.C. 3301 et seq.) to provide Taiwan
        the defense articles necessary to enable Taiwan to maintain
        sufficient self-defense capabilities, in furtherance of
        maintaining peace and stability in the western Pacific region;
            (7) in order to comply with the Taiwan Relations Act, the
        United States must provide Taiwan with additional advanced
        multirole fighter aircraft, as well as significant upgrades to
        Taiwan's existing fleet of multirole fighter aircraft; and
            (8) the proposed sale of F-16C/D multirole fighter aircraft
        to Taiwan would have significant economic benefits to the
        United States economy.

SEC. 4. SALE OF F-16 AIRCRAFT TO TAIWAN.

    The President shall carry out the sale of no fewer than 66 F-16C/D
multirole fighter aircraft to Taiwan.

Summary: Taiwan Air Power Modernization Act of 2011 - Expresses the sense of Congress that: (1) a critical element to maintaining peace and stability in Asia in the face of China's military expansion is ensuring a militarily strong Taiwan, (2) the United States has a statutory obligation under the Taiwan Relations Act to help Taiwan maintain sufficient self-defense capabilities, and (3) the proposed fighter aircraft sale to Taiwan would have significant economic benefits to the US economy. Directs the President to carry out the sale of no fewer than 66 F-16CD multirole fighter aircraft to Taiwan.

A bill to provide Taiwan with critically needed United States-built multirole fighter aircraft to strengthen its self-defense capability against the increasing military threat from China.


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``All Economic Regulations are
Transparent Act of 2015'' or the ``ALERT Act of 2015''.

SEC. 2. OFFICE OF INFORMATION AND REGULATORY AFFAIRS PUBLICATION OF
              INFORMATION RELATING TO RULES.

    (a) Amendment.--Title 5, United States Code, is amended by
inserting after chapter 6, the following new chapter:

``CHAPTER 6A--OFFICE OF INFORMATION AND REGULATORY AFFAIRS PUBLICATION
                    OF INFORMATION RELATING TO RULES

``Sec. 651. Agency monthly submission to office of information and
                            regulatory affairs.
``Sec. 652. Office of information and regulatory affairs publications.
``Sec. 653. Requirement for rules to appear in agency-specific monthly
                            publication.
``Sec. 654. Definitions.

``SEC. 651. AGENCY MONTHLY SUBMISSION TO OFFICE OF INFORMATION AND
              REGULATORY AFFAIRS.

    ``On a monthly basis, the head of each agency shall submit to the
Administrator of the Office of Information and Regulatory Affairs
(referred to in this chapter as the `Administrator'), in such a manner
as the Administrator may reasonably require, the following information:
            ``(1) For each rule that the agency expects to propose or
        finalize during the following year:
                    ``(A) A summary of the nature of the rule,
                including the regulation identifier number and the
                docket number for the rule.
                    ``(B) The objectives of and legal basis for the
                issuance of the rule, including--
                            ``(i) any statutory or judicial deadline;
                        and
                            ``(ii) whether the legal basis restricts or
                        precludes the agency from conducting an
                        analysis of the costs or benefits of the rule
                        during the rule making, and if not, whether the
                        agency plans to conduct an analysis of the
                        costs or benefits of the rule during the rule
                        making.
                    ``(C) Whether the agency plans to claim an
                exemption from the requirements of section 553 pursuant
                to section 553(b)(B).
                    ``(D) The stage of the rule making as of the date
                of submission.
                    ``(E) Whether the rule is subject to review under
                section 610.
            ``(2) For any rule for which the agency expects to finalize
        during the following year and has issued a general notice of
        proposed rule making--
                    ``(A) an approximate schedule for completing action
                on the rule;
                    ``(B) an estimate of whether the rule will cost--
                            ``(i) less than $50,000,000;
                            ``(ii) $50,000,000 or more but less than
                        $100,000,000;
                            ``(iii) $100,000,000 or more but less than
                        $500,000,000;
                            ``(iv) $500,000,000 or more but less than
                        $1,000,000,000;
                            ``(v) $1,000,000,000 or more but less than
                        $5,000,000,000;
                            ``(vi) $5,000,000,000 or more but less than
                        $10,000,000,000; or
                            ``(vii) $10,000,000,000 or more; and
                    ``(C) any estimate of the economic effects of the
                rule, including any estimate of the net effect that the
                rule will have on the number of jobs in the United
                States, that was considered in drafting the rule. If
                such estimate is not available, a statement affirming
                that no information on the economic effects, including
                the effect on the number of jobs, of the rule has been
                considered.

``SEC. 652. OFFICE OF INFORMATION AND REGULATORY AFFAIRS PUBLICATIONS.

    ``(a) Agency-Specific Information Published Monthly.--Not later
than 30 days after the submission of information pursuant to section
651, the Administrator shall make such information publicly available
on the Internet.
    ``(b) Cumulative Assessment of Agency Rule Making Published
Annually.--
            ``(1) Publication in the federal register.--Not later than
        October 1 of each year, the Administrator shall publish in the
        Federal Register, for the previous year the following:
                    ``(A) The information that the Administrator
                received from the head of each agency under section
                651.
                    ``(B) The number of rules and a list of each such
                rule--
                            ``(i) that was proposed by each agency,
                        including, for each such rule, an indication of
                        whether the issuing agency conducted an
                        analysis of the costs or benefits of the rule;
                        and
                            ``(ii) that was finalized by each agency,
                        including for each such rule an indication of
                        whether--
                                    ``(I) the issuing agency conducted
                                an analysis of the costs or benefits of
                                the rule;
                                    ``(II) the agency claimed an
                                exemption from the procedures under
                                section 553 pursuant to section
                                553(b)(B); and
                                    ``(III) the rule was issued
                                pursuant to a statutory mandate or the
                                rule making is committed to agency
                                discretion by law.
                    ``(C) The number of agency actions and a list of
                each such action taken by each agency that--
                            ``(i) repealed a rule;
                            ``(ii) reduced the scope of a rule;
                            ``(iii) reduced the cost of a rule; or
                            ``(iv) accelerated the expiration date of a
                        rule.
                    ``(D) The total cost (without reducing the cost by
                any offsetting benefits) of all rules proposed or
                finalized, and the number of rules for which an
                estimate of the cost of the rule was not available.
            ``(2) Publication on the internet.--Not later than October
        1 of each year, the Administrator shall make publicly available
        on the Internet the following:
                    ``(A) The analysis of the costs or benefits, if
                conducted, for each proposed rule or final rule issued
                by an agency for the previous year.
                    ``(B) The docket number and regulation identifier
                number for each proposed or final rule issued by an
                agency for the previous year.
                    ``(C) The number of rules and a list of each such
                rule reviewed by the Director of the Office of
                Management and Budget for the previous year, and the
                authority under which each such review was conducted.
                    ``(D) The number of rules and a list of each such
                rule for which the head of an agency completed a review
                under section 610 for the previous year.
                    ``(E) The number of rules and a list of each such
                rule submitted to the Comptroller General under section
                801.
                    ``(F) The number of rules and a list of each such
                rule for which a resolution of disapproval was
                introduced in either the House of Representatives or
                the Senate under section 802.

``SEC. 653. REQUIREMENT FOR RULES TO APPEAR IN AGENCY-SPECIFIC MONTHLY
              PUBLICATION.

    ``(a) In General.--Subject to subsection (b), a rule may not take
effect until the information required to be made publicly available on
the Internet regarding such rule pursuant to section 652(a) has been so
available for not less than 6 months.
    ``(b) Exceptions.--The requirement of subsection (a) shall not
apply in the case of a rule--
            ``(1) for which the agency issuing the rule claims an
        exception under section 553(b)(B); or
            ``(2) which the President determines by Executive order
        should take effect because the rule is--
                    ``(A) necessary because of an imminent threat to
                health or safety or other emergency;
                    ``(B) necessary for the enforcement of criminal
                laws;
                    ``(C) necessary for national security; or
                    ``(D) issued pursuant to any statute implementing
                an international trade agreement.

``SEC. 654. DEFINITIONS.

    ``In this chapter, the terms `agency', `agency action', `rule', and
`rule making' have the meanings given those terms in section 551.''.
    (b) Technical and Conforming Amendment.--The table of chapters for
part I of title 5, United States Code, is amended by inserting after
the item relating to chapter 5, the following:

``6.  The Analysis of Regulatory Functions..................       601
``6A.  Office of Information and Regulatory Affairs              651''.
                            Publication of Information
                            Relating to Rules.
    (c) Effective Dates.--
            (1) Agency monthly submission to the office of information
        and regulatory affairs.--The first submission required pursuant
        to section 651 of title 5, United States Code, as added by
        subsection (a), shall be submitted not later than 30 days after
        the date of the enactment of this Act, and monthly thereafter.
            (2) Cumulative assessment of agency rule making.--
                    (A) In general.--Subsection (b) of section 652 of
                title 5, United States Code, as added by subsection
                (a), shall take effect on the date that is 60 days
                after the date of the enactment of this Act.
                    (B) Deadline.--The first requirement to publish or
                make available, as the case may be, under subsection
                (b) of section 652 of title 5, United States Code, as
                added by subsection (a), shall be the first October 1
                after the effective date of such subsection.
                    (C) First publication.--The requirement under
                section 652(b)(2)(A) of title 5, United States Code, as
                added by subsection (a), shall include for the first
                publication, any analysis of the costs or benefits
                conducted for a proposed or final rule, for the 10
                years before the date of the enactment of this Act.
            (3) Requirement for rules to appear in agency-specific
        monthly publication.--Section 653 of title 5, United States
        Code, as added by subsection (a), shall take effect on the date
        that is 8 months after the date of the enactment of this Act.

Summary: The expanded summary of the version reported by the House Committee on Oversight and Government Reform is repeated here.) All Economic Regulations are Transparent Act of 2015 or the ALERT Act of 2015 Requires the head of each federal agency to submit a monthly report to the Administrator of the Office of Information and Regulatory Affairs of the Office of Management and Budget (OMB) for each rule such agency expects to propose or finalize during the following year. Sets forth the required content of such reports, including: (1) a summary of the nature of the rule, (2) the objectives of and legal basis for issuance of the rule, (3) the stage of the rulemaking as of the date of submission, and (4) whether the rule is subject to periodic review as a rule with a significant economic impact. Requires each agency head to submit a monthly report for any rule expected to be finalized during the following year for which the agency has issued a general notice of proposed rulemaking. Requires such reports to include an approximate schedule for completing action on the rule and an estimate of its cost and economic effects. Requires the Administrator to make such monthly reports publicly available on the Internet. Requires the Administrator to publish, not later than October 1 of each year, in the Federal Register: (1) information that the Administrator receives from each agency under this Act. (2) the number of rules and a list of each such rule that was proposed by each agency and each rule that was finalized by each agency. (3) the number of agency actions that repealed a rule, reduced the scope or cost of a rule, or accelerated the expiration date of a rule, (4) the total cost of all rules proposed or finalized. And (5) the number of rules for which an estimate of the cost of the rule was not available. Requires the Administrator to make publicly available on the Internet, not later than October 1 of each year: (1) the analysis of the costs or benefits of each proposed or final rule issued by an agency for the preceding year, (2) the docket number and regulation identifier number for each such rule, (3) the number of rules reviewed by OMB for the preceding year, (4) the number of rules for which a review by the head of an agency was completed, (5) the number of rules submitted to the Comptroller General, and (6) the number of rules for which a resolution of disapproval was introduced in Congress. Prohibits a rule from taking effect until the information required by this Act is posted on the Internet for not less than six months, unless the agency proposing the rule seeks an exemption under the Freedom of Information Act or the President determines by executive order that such rule is necessary because of an imminent threat to health or safety or other emergency, for the enforcement of criminal laws, for national security, or to implement an international trade agreement. Makes such requirement effective eight months after enactment of this Act.

ALERT Act of 2015


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Long Island Aviation History Act''.

SEC. 2. FINDINGS.

    The Congress finds the following:
            (1) Long Island has played an indispensable role in the
        development of the aviation industry in the United States. In
        particular, the Hempstead Plains, Suffolk County Air Force
        Base, and parts of Bethpage, Port Washington, and Farmingdale
        contain notable landmarks of aviation history.
            (2) The Hempstead Plains encompass approximately 950 acres
        east of Clinton Road and south of Old Country Road in Garden
        City, New York, and have been called the ``Cradle of
        Aviation''.
            (3) In the early 20th century, the Hempstead Plains had 3
        major airfields, all of great historical significance:
        Roosevelt Field, Curtiss Field, and Mitchel Field.
            (4) During World War I, the airfields of Hempstead Plains
        were an important training center for United States military
        pilots, as well as a major hub for military aircraft research,
        development, and production.
            (5) The first transatlantic flight, carried out by the U.S.
        Navy Curtiss NC-4 in 1919, took off from Rockaway, New York,
        and cemented the United States leading role in aviation
        innovation. This aircraft was built at the Curtiss factory in
        Garden City--a building which still stands.
            (6) Roosevelt Field in Garden City, New York, was the point
        of departure for Charles Lindbergh's famous transatlantic
        flight aboard the Spirit of St. Louis completed on May 20,
        1927.
            (7) In 1929, Amelia Earhart and other pioneering women
        pilots founded the International Organization of Women Pilots,
        or the Ninety-Nines, at Curtiss Field.
            (8) Curtiss Field also served as the terminus for
        transcontinental airmail from 1918-1929.
            (9) In the 1930s, Roosevelt Field was the busiest civilian
        airfield in the United States, and played a role in many other
        historic transcontinental, transatlantic, and record-setting
        flights.
            (10) Port Washington, New York, once known as the
        ``Plymouth Rock'' of American aviation, was Pan American World
        Airways' trans-Atlantic hub on Manhasset Isle from 1934 to
        1940.
            (11) During World War II, Long Island was a crucial center
        of military aircraft production. These aircraft, produced in
        huge numbers for the Army, Navy, and foreign governments, were
        of excellent quality and had a major impact on the course of
        the war in all theaters.
            (12) Most notably, the Grumman Aircraft Company, based in
        Bethpage, New York, and the Republic Aviation Corporation,
        based in Farmingdale, New York, manufactured innovative planes
        that proved highly valuable to the U.S. military such as
        Grumman's F6F-3 Hellcat and Republic's P-47 Thunderbolt.
            (13) Mitchel Air Force Base, located on the Hempstead
        Plains, served as the original location of the Air Defense
        Command upon its inception in 1940, and was integral to the
        defense of the main-land United States during World War II and
        thereafter.
            (14) In 1951, the Suffolk County Air Force Base, located in
        Westhampton, New York, became the prime Air Defense Command
        base responsible for defending the New York City metropolitan
        area from all air attacks.
            (15) In 1962, Grumman won the contract to build the Lunar
        Module as part of the Apollo Program, and in 1969 the first men
        traveled to the moon aboard a spacecraft built with the
        expertise of Long Island's aviation industry.

SEC. 3. SPECIAL RESOURCE STUDY.

    (a) Study.--The Secretary of the Interior shall conduct a special
resource study of the study area.
    (b) Contents.--In conducting the study under subsection (a), the
Secretary shall--
            (1) evaluate the national significance of the study area
        based on an assessment of Long Island's aviation history;
            (2) determine the suitability and feasibility of
        designating parts of the study area as a unit of the National
        Park System commemorating Long Island's aviation history;
            (3) consider other alternatives for preservation,
        protection, and interpretation of the study area by Federal,
        State, or local governmental entities, or private and nonprofit
        organizations;
            (4) identify properties related to Long Island's aviation
        history that could meet criteria for listing in the National
        Register of Historic Places or criteria for designation as
        National Historic Landmarks;
            (5) consult with interested Federal, State, or local
        governmental entities, private and nonprofit organizations, or
        any other interested individuals;
            (6) consider the appropriate management options needed to
        ensure the protection, preservation, and interpretation of the
        study area;
            (7) evaluate appropriate ways to enhance historical
        research, education, interpretation, and public awareness of
        Long Island's aviation history; and
            (8) identify cost estimates for any Federal acquisition,
        development, interpretation, operation, and maintenance
        associated with the alternatives.
    (c) Study Area.--The term ``study area'' means Long Island with a
particular focus on the Hempstead Plains, the areas surrounding Suffolk
County Air Force Base, the hamlet of Bethpage, the hamlet of Port
Washington, and the village of Farmingdale.
    (d) Applicable Law.--The study required under subsection (a) shall
be conducted in accordance with section 100507 of title 54, United
States Code.
    (e) Report.--Not later than 3 years after the date on which funds
are first made available for the study under subsection (a), the
Secretary shall submit to the Committee on Natural Resources of the
House of Representatives and the Committee on Energy and Natural
Resources of the Senate a report containing the results of the study
and any conclusions and recommendations of the Secretary.

Summary: Long Island Aviation History Act This bill directs the Department of the Interior to conduct a special resource study of the aviation history of Long Island, with a particular focus on the Hempstead Plains, the areas surrounding Suffolk County Air Force Base, the hamlet of Bethpage, the hamlet of Port Washington, and the village of Farmingdale.

Long Island Aviation History Act


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Veterans' Education and Training Act
of 1994''.

SEC. 2. FLIGHT TRAINING.

    (a) Active Duty Program.--Section 3034(d) of title 38, United
States Code, is amended--
            (1) by striking out paragraph (2);
            (2) by striking out ``(d)(1)'' and inserting in lieu
        thereof ``(d)''; and
            (3) by redesignating subparagraphs (A), (B), and (C) as
        paragraphs (1), (2), and (3), respectively.
    (b) Post-Vietnam Era.--Section 3241(b) of such title is amended--
            (1) by striking out paragraph (2);
            (2) by striking out ``(b)(1)'' and inserting in lieu
        thereof ``(b)''; and
            (3) by redesignating subparagraphs (A), (B), and (C) as
        paragraphs (1), (2), and (3), respectively.
    (c) Reserve Program.--Section 2136(c) of title 10, United States
Code, is amended--
            (1) by striking out paragraph (2);
            (2) by striking out ``(c)(1)'' and inserting in lieu
        thereof ``(c)''; and
            (3) by redesignating subparagraphs (A), (B), and (C) as
        paragraphs (1), (2), and (3), respectively.

SEC. 3. TRAINING AND REHABILITATION FOR VETERANS WITH SERVICE-CONNECTED
              DISABILITIES.

    (a) Rehabilitation Resources.--Section 3115 of title 38, United
States Code, is amended--
            (1) in subsection (a)(1), by striking ``assistance,'' and
        inserting in lieu thereof ``assistance or any federally
        recognized Indian tribe,'';
            (2) in subsection (a)(4), by inserting ``any federally
        recognized Indian tribe,'' after ``contributions,''; and
            (3) by adding at the end the following:
    ``(c) As used in this section, the term `federally recognized
Indian tribe' means any Indian tribe, band, nation, pueblo, or other
organized group or community, including any Alaska Native village or
regional corporation as defined in or established pursuant to the
Alaska Native Claims Settlement Act, which is recognized as eligible
for the special programs and services provided by the United States to
Indians because of their status as Indians.''.
    (b) Allowances.--Section 3108(c)(2) of such title is amended by
inserting ``or federally recognized Indian tribe'' after ``local
government agency''.
    (c) Technical Correction.--(1) Section 404(b) of the Veterans'
Benefits Act of 1992 (106 Stat. 4338) is amended by striking out the
period at the end thereof and inserting in lieu thereof ``, but shall
not apply to veterans and other persons who originally applied for
assistance under chapter 31 of title 38, United States Code, before
November 1, 1990.''.
    (2) The amendment made by paragraph (1) shall take effect as of
October 29, 1992.

SEC. 4. ALTERNATIVE TEACHER CERTIFICATION PROGRAMS.

    (a) In General.--Section 3452(c) of title 38, United States Code,
is amended by adding at the end the following: ``For the period ending
on September 30, 1996, such term includes entities that provide
training required for completion of any State-approved alternative
teacher certification program (as determined by the Secretary).''.
    (b) Clarifying Amendment.--Section 3002 of title 38, United States
Code, is amended by adding at the end thereof the following:
            ``(8) The term `educational institution' has the meaning
        given such term in section 3452(c) of this title.''.
    (c) Effective Date.--The amendments made by this section shall be
effective on the date of enactment of this Act.

SEC. 5. EDUCATION OUTSIDE THE UNITED STATES.

    (a) In General.--The first sentence of section 3476 of title 38,
United States Code, is amended to read as follows: ``An eligible
veteran may not enroll in any course offered by an educational
institution not located in a State unless that educational institution
is an approved institution of higher learning and the course is
approved by the Secretary.''.
    (b) Effective Date.--The amendment made by subsection (a) shall
apply with respect to courses approved on or after the date of the
enactment of this Act.

SEC. 6. CORRESPONDENCE COURSES.

    (a) Approval of Programs of Education.--(1) Section 3672 of title
38, United States Code, is amended by adding at the end the following:
    ``(e) A program of education exclusively by correspondence, and the
correspondence portion of a combination correspondence-residence course
leading to a vocational objective, that is offered by an educational
institution (as defined in section 3452(c) of this title) may be
approved only if (1) the educational institution is accredited by an
agency recognized by the Secretary of Education, and (2) at least 50
percent of those pursuing such a program or course require six months
or more to complete the program or course.''.
    (2)(A) Section 3675(a)(2)(B) of such title is amended by striking
out ``A State'' and inserting in lieu thereof ``Except as provided in
section 3672(e), a State''.
    (B) Section 3680(a) of such title is amended--
            (i) by striking out ``; or'' at the end of paragraph (3)
        and inserting in lieu thereof a period; and
            (ii) by striking out paragraph (4).
    (C) Section 3686(c) of such title is amended by striking out
``(other than one subject to the provisions of section 3676 of this
title)''.
    (b) Effective Date.--The amendments made by subsection (a) shall
apply with respect to programs of education exclusively by
correspondence and to correspondence-residence courses commencing after
90 days after the date of the enactment of this Act.

SEC. 7. STATE APPROVING AGENCIES.

    (a) Reimbursement.--(1) Section 3674(a)(4) of title 38, United
States Code, is amended by striking out ``$12,000,000'' each place it
appears and inserting in lieu thereof ``$13,000,000''.
    (2) The amendment made by subsection (a) shall apply with respect
to services provided under such section after September 30, 1994.
    (b) Elimination of Report to Congress Requirement.--Section
3674(a)(3) of such title is amended--
            (1) by striking out subparagraph (B); and
            (2) by striking out ``(3)(A)'' and inserting in lieu
        thereof ``(3)''.
    (c) Evaluation of Agency Performance.--Section 3674A(a) of such
title is amended by striking out paragraph (3) and redesignating
paragraphs (4) and (5) as paragraphs (3) and (4), respectively.

SEC. 8. MEASUREMENT OF COURSES.

    Section 3688(b) of title 38, United States Code, is amended--
            (1) by striking out ``this chapter or'' and inserting in
        lieu thereof ``this chapter,''; and
            (2) by inserting before the period at the end thereof the
        following: ``, or chapter 106 of title 10''.

SEC. 9. VETERANS' ADVISORY COMMITTEE ON EDUCATION.

    Section 3692 of title 38, United States Code, is amended--
            (1) in subsections (a) and (b)--
                    (A) by striking out ``34,'' both places it appears;
                and
                    (B) by striking out ``title.'' and inserting in
                lieu thereof ``title and chapter 106 of title 10.''
                both places it appears; and
            (2) in subsection (c), by striking out ``1994'' and
        inserting in lieu thereof ``2003''.

SEC. 10. CONTRACT EDUCATIONAL AND VOCATIONAL COUNSELING.

    (a) Payment Limitation.--Section 3697(b) of title 38, United States
Code, is amended by striking out ``$5,000,000'' and inserting in lieu
thereof ``$6,000,000''.
    (b) Effective Date.--The amendment made by subsection (a) shall
take effect on October 1, 1994.

SEC. 11. SERVICE MEMBERS OCCUPATIONAL CONVERSION AND TRAINING ACT OF
              1992.

    (a) Period of Training.--(1) Section 4485(d) of the Service Members
Occupational Conversion and Training Act of 1992 (106 Stat. 2759; 10
U.S.C. 1143 note) is amended by striking out ``or more than 18
months''.
    (2)(A) Section 4486(d)(2) of such Act (102 Stat. 2760; 10 U.S.C.
1143 note) is amended by striking out the period at the end thereof and
inserting in lieu thereof the following: ``in the community for the
entire period of training of the eligible person.''.
    (B) The amendment made by subparagraph (A) shall apply with respect
to programs of training under the Service Members Occupational
Conversion and Training Act of 1992 beginning after the date of
enactment of this Act.
    (b) Payments.--Section 4487 of such Act (106 Stat. 2762; 10 U.S.C.
1143 note) is amended--
            (1) in subsection (a)(1)--
                    (A) by striking out ``subparagraph (B)'' in
                subparagraph (A) and inserting in lieu thereof
                ``subparagraphs (B) and (C)'';
                    (B) by inserting before the period at the end of
                subparagraph (A) the following: ``but in no event to
                exceed 18 months (or the equivalent training hours)'';
                and
                    (C) by adding at the end thereof the following new
                subparagraph:
                    ``(C) Assistance may be paid under this subtitle on
                behalf of an eligible person to that person's employer
                for training under two or more programs of job training
                under this subtitle if such employer has not received
                (or is not due) on that person's behalf assistance in
                an amount aggregating the applicable amount set forth
                in subparagraph (B).''; and
            (2) in subsection (b)(3), by inserting before the period at
        the end thereof ``, or upon the completion of the 18th month of
        training under the last training program approved for the
        person's pursuit with that employer under this subtitle,
        whichever is earlier''.
    (c) Entry Into Program of Job Training.--Section 4488(a) of such
Act (106 Stat. 2764; 10 U.S.C. 1143 note) is amended by striking out
the third sentence thereof and inserting in lieu thereof ``The eligible
person may begin such program of job training with the employer on the
day that notice is transmitted to such official by means prescribed by
such official. However, assistance under this subtitle may not be
provided to the employer if such official, within two weeks after the
date on which such notice is transmitted, disapproves the eligible
person's entry into that program of job training in accordance with
this section.''.

            Passed the House of Representatives August 1, 1994.

            Attest:

                                           DONNALD K. ANDERSON,

                                                                 Clerk.

Summary: Veterans' Education and Training Act of 1994 - Provides for the continued use of veterans' basic educational assistance for approved flight training for regular veterans, post-Vietnam era veterans, and members of the reserves. Authorizes the Secretary of Veterans Affairs to use the facilities of any federally recognized Indian tribe in providing training or work experience for veterans with service-connected disabilities. Allows for the payment of a subsistence allowance to veterans performing training or work on the facilities of such an Indian tribe. Includes within the definition of educational institution for purposes of the provision of educational assistance to veterans, until September 31, 1996, entities that provide training required for the completion of any State-approved alternative teacher certification program. Prohibits a veteran eligible for educational assistance from enrolling in any course at an institution outside the United States unless the institution is an approved institution of higher learning and the course is approved by the Secretary. Provides for the conditional approval of correspondence courses as courses for which veterans' educational assistance may be provided. Increases from $12 million to $13 million the annual limit on the amount authorized to be provided to State and local educational agencies for furnishing courses of education to veterans under the educational assistance program. Removes an educational agency reporting requirement with respect to the provision of such services. Continues the Veterans' Advisory Committee on Education through December 31, 2003. Increases from $5 million to $6 million the annual funding ceiling for veterans' educational and vocational counseling services obtained by the Department of Veterans Affairs. Amends the Service Members Occupational Conversion and Training Act of 1992 to: (1) repeal the 18-month limit on training under such Act for employment in stable and permanent positions, (2) revise certain certification requirements under such training program. (3) allow assistance to be paid on behalf of eligible persons for training under two or more training programs if the per-person annual training limit is not exceeded. And (4) allow a person to enter into a job training program on the day that official employer notification is given .


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Financial Crisis Investigation Act
of 2009''.

SEC. 2. EXPANDING THE AUTHORITY OF THE TARP CONGRESSIONAL OVERSIGHT
              PANEL.

    Section 125 of the Emergency Economic Stabilization Act of 2008 (12
U.S.C. 5233) is amended by adding at the end the following:
    ``(h) Additional Duties.--The Oversight Panel shall--
            ``(1) investigate all causes, domestic and global, of the
        current financial and economic crisis in the United States,
        including the collapse of major financial and commercial firms
        and the deterioration of the credit and housing markets;
            ``(2) investigate the role in the financial and economic
        crisis, if any, of--
                    ``(A) any financial or commercial corporation,
                partnership, hedge fund, private equity firm, or
                entity, including any of their employees;
                    ``(B) the Securities and Exchange Commission;
                    ``(C) nationally recognized statistical rating
                organizations, as that term is defined in section 3(a)
                of the Securities Exchange Act of 1934 (15 U.S.C.
                78c(a)) including any of their employees;
                    ``(D) the Commodity Futures Trading Commission;
                    ``(E) the Federal National Mortgage Association or
                the Federal Home Loan Mortgage Corporation;
                    ``(F) trading facilities for commodities, as those
                terms are defined in section 1a of the Commodity
                Exchange Act (7 U.S.C. 1a), and self-regulatory
                organizations, as that term is defined in section 3 of
                the Securities Exchange Act of 1934 (15 U.S.C. 78c);
                    ``(G) the Federal banking agencies, as that term is
                defined in section 3 of the Federal Deposit Insurance
                Act (12 U.S.C. 1813); and
                    ``(H) any other governmental or nongovernmental
                entity including any of their employees;
            ``(3) conduct a top-to-bottom review of the Nation's
        existing financial regulatory structure and the contribution of
        the current structure to the stability or instability of
        financial markets, in order to develop a comprehensive
        framework for--
                    ``(A) reforming the laws governing our Nation's
                financial markets;
                    ``(B) strengthening regulatory agencies; and
                    ``(C) improving transparency and oversight;
            ``(4) analyze--
                    ``(A) the impact of the financial regulatory
                structure on the health and stability of the United
                States economy;
                    ``(B) the sustainability of the Nation's financial
                institutions; and
                    ``(C) the financial well-being of American
                taxpayers;
            ``(5) review and consider all aspects of financial
        regulation, including the regulation of--
                    ``(A) bank holding companies, financial holding
                companies, commercial banks, investment banks, savings
                associations, credit unions, and industrial loan
                companies;
                    ``(B) payment and settlement systems;
                    ``(C) hedge funds, private equity funds, and the
                markets for alternative investments;
                    ``(D) special purpose vehicles and off-balance
                sheet financing for financial companies;
                    ``(E) the securitization of mortgages and other
                assets;
                    ``(F) exchange-based, electronic, and over-the-
                counter markets for financial derivative products;
                    ``(G) the mortgage finance industry, including
                mortgage brokers and mortgage lending institutions;
                    ``(H) equity markets, including short-selling
                practices, and commodity futures markets; and
                    ``(I) the insurance industry and its role in the
                financial markets;
            ``(6) submit reports required by subsection (b); and
            ``(7) refer to the Attorney General of the United States,
        any appropriate State attorney general, or any other
        appropriate law enforcement official any person that the
        Oversight Panel finds may have violated the laws of the United
        States in relation to such crisis.
    ``(i) Hearings and Evidence.--
            ``(1) In general.--The Oversight Panel shall, for purposes
        of carrying out this section--
                    ``(A) hold regular hearings, sit and act at times
                and places, take testimony, receive evidence, and
                administer oaths; and
                    ``(B) require, by subpoena or otherwise, the
                attendance and testimony of witnesses and the
                production of books, records, correspondence,
                memoranda, papers, and other documents.
            ``(2) Subpoenas.--
                    ``(A) Service.--Subpoenas issued under paragraph
                (1)(B) may be served by any person designated by the
                Oversight Panel.
                    ``(B) Enforcement.--
                            ``(i) In general.--In the case of contumacy
                        or failure to obey a subpoena issued under
                        paragraph (1)(B), the United States district
                        court for the judicial district in which the
                        subpoenaed person resides, is served, or may be
                        found, or where the subpoena is returnable, may
                        issue an order requiring such person to appear
                        at any designated place to testify or to
                        produce documentary or other evidence. Any
                        failure to obey the order of the court may be
                        punished by the court as a contempt of that
                        court.
                            ``(ii) Additional enforcement.--Sections
                        102 through 104 of the Revised Statutes of the
                        United States (2 U.S.C. 192 through 194) shall
                        apply in the case of any failure of any witness
                        to comply with any subpoena or to testify when
                        summoned under the authority of this section.
            ``(3) Contracting.--The Oversight Panel may enter into
        contracts to enable the Oversight Panel to discharge its duties
        under this section.
            ``(4) Information from federal agencies.--The Oversight
        Panel may secure directly from any department, agency, or
        instrumentality of the United States any information related to
        any inquiry of the Oversight Panel conducted under this Act.
        Each such department, agency, or instrumentality shall, to the
        extent authorized by law, furnish such information directly to
        the Oversight Panel upon request, not later than 7 days after
        the date on which such request is made.
            ``(5) Information from financial or commercial
        corporations, partnerships, hedge funds, private equity firms,
        or entities.--The Oversight Panel may secure directly from any
        financial or commercial corporations, partnerships, hedge
        funds, private equity firms, or entities any information
        related to any inquiry of the Oversight Panel conducted under
        this section. Each shall, to the extent authorized by law,
        furnish such information directly to the Oversight Panel upon
        request not later than 7 days after the date on which such
        request is made.
            ``(6) Assistance from federal agencies.--
                    ``(A) Department of the treasury.--
                            ``(i) In general.--The Secretary shall
                        provide all amounts necessary to defray the
                        costs and provide administrative support and
                        other services to the Oversight Panel for the
                        performance of the functions of the Oversight
                        Panel.
                            ``(ii) Limitation.--The value of the
                        assistance required to be provided by the
                        Secretary under this subparagraph may not
                        exceed $4,000,000.
                    ``(B) Other departments and agencies.--In addition
                to the assistance prescribed in subparagraph (A),
                departments and agencies of the United States are
                authorized to provide to the Oversight Panel such
                services, funds, facilities, staff, and other support
                services as they may determine advisable and as may be
                authorized by law.
            ``(7) Gifts.--The Oversight Panel may accept, use, and
        dispose of gifts or donations of services or property.
            ``(8) Postal services.--The Oversight Panel may use the
        United States mails in the same manner and under the same
        conditions as departments and agencies of the United States.
            ``(9) Powers of subcommittees, members, and agents.--Any
        subcommittee, member, or agent of the Oversight Panel may, if
        authorized by the Oversight Panel, take any action which the
        Oversight Panel is authorized to take by this section.''.

SEC. 3. REPORTS OF THE OVERSIGHT PANEL.

    Section 125(b) of the Emergency Economic Stabilization Act of 2008
(12 U.S.C. 5233(b)) is amended by adding at the end the following:
            ``(3) Final report on financial crisis.--Not later than 100
        days after the date of enactment of this paragraph, the
        Oversight Panel shall submit to the President and Congress a
        report containing--
                    ``(A) the findings and conclusions of the Oversight
                Panel on the causes of the current financial and
                economic crisis in the United States; and
                    ``(B) such findings, conclusions, and
                recommendations for statutory and regulatory changes as
                a majority of Oversight Panel members finds are
                necessary to prevent a financial and economic crisis
                comparable to the current financial and economic crisis
                in the United States.
            ``(4) Interim reports.--At any time after the first meeting
        of the Oversight Panel, the Oversight Panel may submit to the
        President and Congress an interim report containing such
        findings, conclusions, and recommendations for corrective
        measures as have been agreed to by a majority of Oversight
        Panel members.''.

Summary: Financial Crisis Investigation Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to direct the Oversight Panel of the Troubled Asset Relief Program (TARP) to: (1) investigate all causes, domestic and global, of the current financial and economic crisis in the United States, including the collapse of major financial and commercial firms and the deterioration of the credit and housing markets. (2) investigate the role in the financial and economic crisis, if any, of specified governmental and private sector entities. (3) review the nation's existing financial regulatory structure from top to bottom, and its contribution to the stability or instability of financial markets, (4) review all aspects of financial regulation. And (5) refer to federal and state law enforcement officials any person that the Oversight Panel finds may have violated federal law in relation to such crisis. Requires the Oversight Panel to report its findings, conclusions, and recommendations to the President and Congress.

A bill to expand the authority and responsibilities of the Oversight Panel of the Troubled Asset Relief Program, and for other purposes.


SECTION 1. NONREFUNDABLE CREDIT FOR MENTORING AND HOUSING YOUNG ADULTS.

    (a) In General.--Subpart A of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 is amended by inserting after
section 25D the following new section:

``SEC. 25E. MENTORING AND HOUSING CERTAIN YOUNG ADULTS.

    ``(a) Allowance of Credit.--In the case of a taxpayer who is a
qualified mentor, there shall be allowed as a credit against the tax
imposed by this chapter for the taxable year with respect to each
qualifying mentored individual by the taxpayer an amount equal to
$1,000.
    ``(b) Limitations.--
            ``(1) Proration of credit for years in which individual
        attains age 18 and 21.--In the case of a qualifying mentored
        individual who attains age 18 or 21 during the taxable year,
        the credit allowed under subsection (a) shall be the amount
        specified in subsection (a) multiplied by a fraction, the
        numerator of which is the number of days in the taxable year
        such individual is 18 or 20 (as the case may be) and the
        denominator of which is the number of days in the taxable year.
            ``(2) Limitation based on amount of tax.--In the case of a
        taxable year to which section 26(a)(2) does not apply, the
        credit allowed under subsection (a) for any taxable year shall
        not exceed the excess of--
                    ``(A) the sum of the regular tax liability (as
                defined in section 26(b)) plus the tax imposed by
                section 55, over
                    ``(B) the sum of the credits allowable under this
                subpart (other than this section) and section 27 for
                the taxable year.
    ``(c) Definitions.--For purposes of this section--
            ``(1) Qualified mentor.--The term `qualified mentor' means
        an individual--
                    ``(A) who attained the age of 21 before the
                beginning of the taxable year,
                    ``(B) with respect to whom any agency certified by
                the State (including a private mentoring agency and
                governmental mentoring agency) in which the taxpayer
                has his principle place of abode to provide or
                facilitate mentoring services has placed a qualifying
                mentored individual, and
                    ``(C) who is in compliance with the mentoring
                requirements of such agency or State with respect to
                the qualifying mentored individual.
            ``(2) Mentoring requirements.--The term `mentoring
        requirements' includes participating in a one-on-one
        relationship as a positive role model with a qualifying
        mentored individual and involves meetings and activities on not
        less than a monthly basis.
            ``(3) Qualifying mentored individual.--The term `qualifying
        mentored individual' means an individual who--
                    ``(A) has attained the age of 18 as of the close of
                the taxable year but did not attain age 22 during the
                taxable year,
                    ``(B) as of the day before the date on which the
                individual attained the age of 18, was placed by an
                authorized placement agency or by judgment, decree, or
                other order of any court of competent jurisdiction, and
                    ``(C) has the same principal place of abode as the
                taxpayer for more than one-half of such taxable year.
    ``(d) Identification Requirement.--No credit shall be allowed under
this section to a taxpayer with respect to a qualifying mentored
individual unless the taxpayer includes the name and taxpayer
identification number of such qualifying mentored individual on the
return of tax for the taxable year.
    ``(e) Taxable Year Must Be Full Taxable Year.--Except in the case
of a taxable year closed by reason of the death of the taxpayer, no
credit shall be allowable under this section in the case of a taxable
year covering a period of less than 12 months.''.
    (b) Conforming Amendments.--
            (1) Section 23(b)(4)(B) of such Code is amended by striking
        ``section 25D'' and inserting ``sections 25D and 25E''.
            (2) Section 24(b)(3)(B) of such Code is amended by
        inserting ``25E,'' after ``25D,''.
            (3) Section 25B(g)(2) of such Code is amended by inserting
        ``25E,'' after ``25D,''.
            (4) Section 25D(c)(1)(B) of such Code is amended by
        inserting ``and section 25E'' after ``this section''.
            (5) Section 26(a)(1) of such Code is amended by inserting
        ``25E,'' after ``25D,''.
            (6) Section 30(c)(2)(B)(ii) of such Code is amended by
        inserting ``25E,'' after ``25D,''.
            (7) Section 30B(i)(2)(B)(ii) of such Code is amended by
        inserting ``25E,'' after ``25D,''.
            (8) Section 30D(d)(2)(B)(ii) of such Code is amended by
        striking ``23 and 25D'' and inserting ``23, 25D, and 25E''.
    (c) Clerical Amendment.--The table of sections for subpart A of
part IV of subchapter A of chapter 1 of such Code is amended by
inserting after the item relating to section 25D the following new
item:

``Sec. 25E. Mentoring and housing certain young adults.''.
    (d) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after the date of the enactment of
this Act.

Summary: Amends the Internal Revenue Code to allow a tax credit to individuals who provide mentoring services to young adults between the ages of 18 and 22. Requires such individuals to participate in a one-on-one relationship as a positive role model with such young adults and to conduct meetings and activities with them on not less than a monthly basis.

To amend the Internal Revenue Code of 1986 to allow a nonrefundable credit for mentoring and housing young adults.


SECTION 1. SHORT TITLE.

    This Act may be referred to as the ``Sweetgrass Hills Protection
Act of 1995''.

SEC. 2. SPECIAL MANAGEMENT AREA.

    (a) In General.--For the purpose of conserving, protecting, and
enhancing the exceptional scenic, wildlife, water quality, and cultural
characteristics of lands along the Sweetgrass Hills in north central
Montana, there is hereby established the Sweetgrass Hills Natural Area
within the Bureau of Land Management's Sweetgrass Hills Area of
Critical Environmental Concern (ACEC) as identified in the West HiLine
Resource Management Plan in the State of Montana (hereinafter in this
Act referred to as the ``natural area'').
    (b) Area Included.--The natural area shall consist of the lands,
waters, and interests therein within the area generally depicted on the
map entitled ``Boundary Map, . . .'', numbered ________, and Dated
__________. The map shall be on file and available for public
inspection in the office of the Bureau of Land Management, Department
of the Interior. The Secretary of the Interior (hereinafter in this Act
referred to as the ``Secretary'') may from time to time make minor
revisions in the boundary of the natural area to promote management
effectiveness and efficiency in the furtherance of this Act.

SEC. 3. ADMINISTRATION.

    (a) In General.--The Secretary shall administer the natural area in
accordance with this Act and with the provisions of law generally
applicable to units of the Bureau of Land Management. In the
administration of such natural area, the Secretary may utilize such
statutory authority as may be available to him for the conservation of
wildlife, natural and cultural resources, and water quality as he deems
necessary to carry out the purposes of this Act.
    (b) Hunting and Fishing.--The Secretary shall permit hunting and
fishing on lands and waters within the natural area in accordance with
applicable Federal and State law.

SEC. 4. ACQUISITION OF LANDS.

    The Secretary is directed to acquire lands or interests in lands
within the boundaries of the natural area that are necessary to carry
out the purposes of this Act by donation, purchase with donation or
appropriated funds, or exchange. Lands within the boundaries of the
natural area owned by the State of Montana or any political subdivision
thereof may only be acquired by donation or exchange.

SEC. 5. MINERALS AND MINING.

    (a) Withdrawals.--After the enactment of this Act:
            (1) Lands within the natural area shall not be open to
        location of mining claims under the mining laws of the United
        States.
            (2) The Secretary shall not issue any lease under the
        mineral leasing or geothermal leasing laws of the United States
        for lands within the natural area.
            (3) Lands within the natural area shall not be available
        for disposal of mineral materials under the Act of July 31,
        1947, commonly known as the Materials Act of 1947 (30 U.S.C.
        601 and following).
    (b) Limitation on Patent Issuance.--(1) Notwithstanding any other
provision of law, no patents shall be issued after July 19, 1995, for
any location or claim made in the natural area under the mining laws of
the United States.
    (2) Notwithstanding any statute of limitations or similar
restriction otherwise applicable, any party claiming to have been
deprived of any property right enactment of paragraph (1) may file in
the United States Claims Court a claim against the United States within
one year after the date of enactment of this Act seeking compensation
for such property right. The United States Claims Court shall have
jurisdiction to render judgement on such claim in accordance with
section 1491 of title 28, United States Code.
    (c) Prohibition.--No Federal lands may be used in connection with
any mining or mining related activities within the Natural Area.
    (d) Reclamation.--No mining or mining related activities involving
any surface disturbance of lands or waters within such area, including
disturbances through subsistence, shall be permitted except in
accordance with requirements imposed by the Secretary, including
requirements for reasonable reclamation of disturbed lands to a visual
and hydrological condition as close as practicable to their premining
condition.
    (e) Mining Claim Validity Review.--The Secretary shall undertake
and complete within three years after the enactment of this Act an
expedited program to examine all unpatented mining claims, including
those for which a patent application has been filed, within the natural
area. Upon determination by the Secretary that the elements of contest
are present, the Secretary shall immediately determine the validity of
such claims. If a claim is determined to be invalid, the Secretary
shall declare the claim null and void.

SEC. 6. AUTHORIZATION FOR APPROPRIATIONS.

    There are authorized to be appropriated such sums as may be
necessary to carry out the purposes of this Act.

Summary: Sweetgrass Hills Protection Act of 1995 - Establishes the Sweetgrass Hills Natural Area within the Bureau of Land Management's Sweetgrass Hills Area of Critical Environmental Concern in north central Montana for the purpose of conserving, protecting, and enhancing the exceptional scenic, wildlife, water quality, and cultural characteristics of such Area. Requires the Secretary of the Interior to administer the area in accordance with this Act and with the provisions of law generally applicable to units of the Bureau of Land Management. Authorizes appropriations.

Sweetgrass Hills Protection Act of 1995


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Balanced Trade Restoration Act of
2006''.

SEC. 2. FINDINGS.

    Congress makes the following findings:
            (1) Since the 1990s, the United States has experienced
        record trade deficits that has made the United States the
        largest debtor country in the world.
            (2) In 2005, the merchandise trade deficit of the United
        States was a record $767,000,000,000, and in 2006, the
        merchandise trade deficit of the United States is projected to
        surpass the record set in 2005.
            (3) The surging trade deficits could soon create a balance
        of payments crisis for the United States, which could wreak
        havoc with the economy of the United States.
            (4) Article XII of the General Agreement on Tariff and
        Trade (GATT 1994), annexed to the Agreement Establishing the
        World Trade Organization entered into on April 15, 1994,
        permits any member country to restrict the quantity or value of
        imports in order to safeguard the external financial position
        and the balance of payments of the member country.
            (5) In accordance with Article XII of the GATT 1994, the
        United States should take steps to restore balance to its
        merchandise trade, and safeguard its external financial
        position and its balance of payments.
            (6) The imposition of import restrictions should be phased
        in to allow the economy of the United States to absorb the
        impact of import restrictions with minimal disruption.

SEC. 3. DEFINITIONS.

    In this Act:
            (1) Balanced trade certificate; certificate.--The terms
        ``Balanced Trade Certificate'' and ``Certificate'' mean a
        certificate issued pursuant to section 4 that provides the
        holder of the certificate with a license to import into the
        United States a good with an appraised value that is equal to
        or less than the face value of the certificate.
            (2) Department.--The term ``Department'' means the
        Department of Commerce.
            (3) Oil or gas.--The term ``oil or gas'' means any good
        classifiable under--
                    (A) heading 2709 of the Harmonized Tariff Schedule
                of the United States (relating to petroleum oils and
                oils obtained from bituminous minerals, crude);
                    (B) heading 2710 of the Harmonized Tariff Schedule
                of the United States (relating to petroleum oils and
                oils obtained from bituminous minerals, other than
                crude); and
                    (C) heading 2711 of the Harmonized Tariff Schedule
                of the United States (relating to light oils and
                preparations).
            (4) Program.--The term ``Program'' means the Balanced Trade
        Certificate Program established under section 4.
            (5) Secretary.--The term ``Secretary'' means the Secretary
        of Commerce.

SEC. 4. ESTABLISHMENT OF BALANCED TRADE PROGRAM.

    (a) In General.--Not later than 180 days after the date of the
enactment of this Act, the Secretary shall, in cooperation with the
Secretary of Homeland Security, establish a Balanced Trade Certificate
Program within the International Trade Administration of the
Department. The purpose of the Program is to create gradually balance
between the dollar value of goods imported into the United States and
goods exported from the United States.
    (b) Regulatory Authority.--The Secretary, in cooperation with the
Secretary of Homeland Security, shall promulgate regulations in
accordance with section 5 that provide for--
            (1) issuing Certificates to exporters;
            (2) collecting Certificates from importers;
            (3) valuing the Certificates issued and collected; and
            (4) trading Certificates.

SEC. 5. OPERATION OF THE PROGRAM.

    (a) Exporters.--
            (1) Issuance of certificates.--The Program established
        under section 4 shall provide for the issuance of a Certificate
        to any person who exports a good from the United States with a
        face value equivalent to a multiple of the appraised value of
        the good determined pursuant to paragraph (2).
            (2) Value of balanced trade certificates.--
                    (A) Determination of value.--The Secretary shall
                establish a system for the valuation of Certificates.
                To the extent practicable, the value of a Certificate
                shall be based upon the appraised value declared on the
                shipper's export declaration (SED), in accordance with
                subparagraph (B);
                    (B) System of valuation.--The value of a
                Certificate shall be determined in accordance with the
                following table:

If a Certificate is issued:                        The face value of the Certificate is an amount equal to:
  During the first year the Program is in          140% of the appraised value of the good exported.
   operation
  During the second year the Program is in         130% of the appraised value of the good exported.
   operation
  During the third year the Program is in          120% of the appraised value of the good exported.
   operation
  During the fourth year the Program is in         110% of the appraised value of the good exported.
   operation
  After the fourth year the Program is in          100% of the appraised value of the good exported
   operation

    (b) Importers.--
            (1) Submission requirement.--Except as described in
        paragraph (5), any person who imports a good into the United
        States shall submit to the Secretary of Homeland Security, not
        later than 90 days after the date on which the good enters the
        United States, a Certificate with an aggregate face value equal
        to or greater than the appraised value of the good imported
        pursuant to paragraph (2).
            (2) Valuation of imported goods.--The Secretary shall
        establish a method for the valuation of goods imported into the
        United States. The method may include the use of the declared
        dollar value of the goods on the Entry Summary (United States
        Customs and Border Protection Form 7501).
            (3) Collection of certificates.--The Secretary shall
        establish a system for the collection of Certificates submitted
        by importers to the Secretary of Homeland Security.
            (4) Penalty for failure to supply certificates.--If a
        person imports a good into the United States and fails to
        submit a Certificate with an aggregate face value equal to, or
        greater than, the value of the good imported as required by
        paragraph (1), the Secretary of Homeland Security shall--
                    (A) suspend the person from importing any good
                until such time as a Certificate required by paragraph
                (1) is submitted; and
                    (B) impose a penalty equal to 3 times the appraised
                value of the good imported.
            (5) Exception for oil or gas.--
                    (A) Adjustment period.--During the period that
                begins on the date of the enactment of this Act and
                ends 5 years after such date, paragraph (1) shall not
                apply to a person who imports oil or gas into the
                United States.
                    (B) Gradual valuation.--At the end of the period
                described in subparagraph (A), any person who imports
                oil or gas into the United States shall submit to the
                Secretary of Homeland Security, not later than 90 days
                after the date on which the oil or gas enters the
                United States, a Certificate with an aggregate face
                value equal to, or greater than, the appraised value of
                the oil or gas imported pursuant to paragraph (2),
                adjusted in accordance with the following table:

If the oil or gas is imported:                     The aggregate face value of the Certificate required to
                                                    import the oil or gas is:
  During the sixth year the Program is in          60% of the appraised value of the oil or gas imported.
   operation
  During the seventh year the Program is in        70% of the appraised value of the oil or gas imported.
   operation
  During the eighth year the Program is in         80% of the appraised value of the oil or gas imported.
   operation
  During the ninth year the Program is in          90% of the appraised value of the oil or gas imported.
   operation
  After the ninth year the Program is in           100% of the appraised value of the oil or gas imported.
   operation

    (c) Management of Certificates.--
            (1) Certificates removed from circulation.--Upon the
        receipt of a Certificate from a person importing a good, the
        Secretary of Homeland Security, in cooperation with the
        Secretary, shall permanently remove the Certificate from
        circulation.
            (2) Transferability and limitation on validity of
        certificates.--A Certificate issued pursuant to this Act shall
        be--
                    (A) fully transferable; and
                    (B) valid for 365 days from the date the
                Certificate is issued.

Summary: Balanced Trade Restoration Act of 2006 - Directs the Secretary of Commerce to establish a Balanced Trade Certificate Program within the International Trade Administration of the Department of Commerce. Provides under such Program for the issuance of certificates to measure and control US imports and exports to achieve a balance in the foreign trade of the United States. Exempts importers of oil or gas during the first five years of the program.

A bill to achieve balance in the foreign trade of the United States, through a market-based system of tradable certificates, and for other purposes.


SECTION 1. EXPORT-IMPORT BANK ASSISTANCE FOR EXPORTS TO CHINA
              CONDITIONED ON ADHERENCE TO CODE OF CONDUCT.

    (a) In General.--Section 2(b) of the Export-Import Bank Act of 1945
(12 U.S.C. 635(b)) is amended by adding at the end the following:
    ``(f) Assistance for Exports to China Conditioned Upon Adherence to
Code of Conduct.--
            ``(1) Prohibitions.--
                    ``(A) Pre-assistance condition.--The Bank shall not
                guarantee, insure, extend credit, or participate in the
                extension of credit to an entity with respect to the
                export of any good or service destined for the People's
                Republic of China unless the Board of Directors
                determines that the entity has established and is
                adhering to the code of conduct set forth in paragraph
                (2).
                    ``(B) Penalty for violation.--The Bank shall
                withdraw any guarantee, insurance, or credit that the
                Bank has provided, and shall withdraw from any
                participation in an extension of credit, to an entity
                with respect to the export of any good or service
                destined for the People's Republic of China if the
                Board of Directors determines that the entity is not
                adhering to the code of conduct set forth in paragraph
                (2).
            ``(2) Code of conduct.--An entity shall do all of the
        following in all of its operations:
                    ``(A) Provide a safe and healthy workplace.
                    ``(B) Ensure fair employment, including by--
                            ``(i) avoiding child and forced labor, and
                        discrimination based upon race, gender,
                        national origin, or religious beliefs;
                            ``(ii) respecting freedom of association
                        and the right to organize and bargain
                        collectively;
                            ``(iii) paying not less than the minimum
                        wage required by law or the prevailing industry
                        wage, whichever is higher; and
                            ``(iv) providing all legally mandated
                        benefits.
                    ``(C) Obey all applicable environmental laws.
                    ``(D) Comply with United States and local laws
                promoting good business practices, including laws
                prohibiting illicit payments and ensuring fair
                competition.
                    ``(E) Maintain, through leadership at all levels, a
                corporate culture--
                            ``(i) which respects free expression
                        consistent with legitimate business concerns,
                        and does not condone political coercion in the
                        workplace;
                            ``(ii) which encourages good corporate
                        citizenship and makes a positive contribution
                        to the communities in which the entity
                        operates; and
                            ``(iii) in which ethical conduct is
                        recognized, valued, and exemplified by all
                        employees.
                    ``(F) Require similar behavior by partners,
                suppliers, and subcontractors under terms of contracts.
                    ``(G) Implement and monitor compliance with the
                subparagraphs (A) through (F) through a program that is
                designed to prevent and detect noncompliance by any
                employee or supplier of the entity and that includes--
                            ``(i) standards for ethical conduct of
                        employees of the entity and of suppliers which
                        refer to the subparagraphs;
                            ``(ii) procedures for assignment of
                        appropriately qualified personnel at the
                        management level to monitor and enforce
                        compliance;
                            ``(iii) procedures for reporting
                        noncompliance by employees and suppliers;
                            ``(iv) procedures for selecting qualified
                        individuals who are not employees of the entity
                        or of suppliers to monitor compliance, and for
                        assessing the effectiveness of such compliance
                        monitoring;
                            ``(v) procedures for disciplinary action in
                        response to noncompliance;
                            ``(vi) procedures designed to ensure that,
                        in cases in which noncompliance is detected,
                        reasonable steps are taken to correct the
                        noncompliance and prevent similar noncompliance
                        from occurring; and
                            ``(vii) communication of all standards and
                        procedures with respect to the code of conduct
                        to every employee and supplier--
                                    ``(I) by requiring all management
                                level employees and suppliers to
                                participate in a training program; or
                                    ``(II) by disseminating information
                                orally and in writing, through posting
                                of an explanation of the standards and
                                procedures in prominent places
                                sufficient to inform all employees and
                                suppliers, in the local languages
                                spoken by employees and managers.
            ``(3) Small business exception.--This subsection shall not
        apply to an entity that is a small business (within the meaning
        of the Small Business Act).''.
    (b) Annual Report.--Section 2(b)(1)(A) of such Act (12 U.S.C.
635(b)(1)(A)) is amended by adding at the end the following: ``The Bank
shall include in the annual report a description of the actions the
Bank has taken to comply with subsection (f) during the period covered
by the report.''.
    (c) Sense of the Congress.--It is the sense of the Congress that
the Export-Import Bank of the United States and the Clearinghouse on
Corporate Responsibility that is being developed by the Department of
Commerce should work together to ensure that businesses are made aware
of, and have access to, resources and organizations that can assist
businesses in developing, implementing, and monitoring global codes of
corporate conduct.

Summary: Amends the Export-Import Bank Act of 1945 to prohibit the Export-Import Bank of the United States from guaranteeing, insuring, or extending credit to an entity with respect to the export of any good or service to China unless the Board of Directors of the Bank determines that such entity is adhering to certain environmental and fair employment principles under a corporate code of conduct. Expresses the sense of the Congress that the Bank and the Clearinghouse on Corporate Responsibility that is being developed by the Department of Commerce should work together to ensure that businesses are made aware of, and have access to, resources and organizations that can assist them in developing and monitoring global codes of corporate conduct.

To amend the Export-Import Bank Act of 1945 to ensure that the provision of assistance for exports to China is conditioned upon adherence to responsible conduct.