SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Migratory Bird Hunting and
Conservation Stamp Promotion Act of 1998''.

SEC. 2. PROMOTION OF STAMP SALES.

    (a) In General.--Section 4 of the Act of March 16, 1934 (commonly
known as the ``Migratory Bird Hunting and Conservation Stamp Act'') (16
U.S.C. 718d), is amended--
            (1) in subsection (b), by striking ``subsection (c) of this
        section'' and inserting ``subsections (c) and (d)''; and
            (2) by adding at the end the following:
    ``(d) Promotion of Stamp Sales.--
            ``(1) In general.--Subject to approval of an annual
        marketing plan by the Migratory Bird Conservation Commission
        established by section 2 of the Migratory Bird Conservation Act
        (16 U.S.C. 715a), the Secretary of the Interior may use from
        receipts from the sale of migratory bird hunting and
        conservation stamps an amount not to exceed $1,000,000 for each
        of fiscal years 1999 through 2003 for the promotion of
        additional stamp sales.
            ``(2) Annual report.--The Secretary of the Interior shall--
                    ``(A) include in each report under section 3 of the
                Migratory Bird Conservation Act (16 U.S.C. 715b) a
                statement of all expenditures under paragraph (1); and
                    ``(B) provide a copy to the Migratory Bird
                Conservation Commission, the Committee on Environment
                and Public Works of the Senate, and the Committee on
                Resources of the House of Representatives.''.
    (b) Technical Amendments.--
            (1) Short title.--
                    (A) The Act of March 16, 1934 (16 U.S.C. 718 et
                seq.), is amended by adding at the end the following:

``SEC. 11. SHORT TITLE.

    ``This Act may be cited as the `Migratory Bird Hunting and
Conservation Stamp Act'.''.
                    (B) Section 4(d)(2) of the National Wildlife Refuge
                System Administration Act of 1966 (16 U.S.C.
                668dd(d)(2)) is amended in the last sentence by
                striking ``Migratory Bird Hunting Stamp Act'' and
                inserting ``Migratory Bird Hunting and Conservation
                Stamp Act''.
                    (C) Section 102 of the Sikes Act (16 U.S.C. 670b)
                is amended by striking ``Migratory Bird Hunting Stamp
                Act as amended'' and inserting ``Migratory Bird Hunting
                and Conservation Stamp Act (16 U.S.C. 718 et seq.)''.
                    (D) Section 203(b)(4)(A) of the Sikes Act (16
                U.S.C. 670i(b)(4)(A)) is amended by striking ``Act of
                March 16, 1934, commonly referred to as the Migratory
                Bird Hunting Stamp Act'' and inserting ``Migratory Bird
                Hunting and Conservation Stamp Act''.
                    (E) Section 2 of Public Law 87-383 (16 U.S.C. 715k-
                4) is amended by striking ``Migratory Bird Hunting
                Stamp Act of March 16, 1934, as amended'' and inserting
                ``Migratory Bird Hunting and Conservation Stamp Act''.
                    (F) Section 201 of the Emergency Wetlands Resources
                Act of 1986 (16 U.S.C. 3911) is amended--
                            (i) in subsection (b)(1)(A), by striking
                        ``Act of March 16, 1934 (16 U.S.C. 718b)
                        (commonly known as the Duck Stamp Act)'' and
                        inserting ``Migratory Bird Hunting and
                        Conservation Stamp Act (16 U.S.C. 718b)''; and
                            (ii) in subsection (c)(B), by striking
                        ``Act of March 16, 1934'' and inserting
                        ``Migratory Bird Hunting and Conservation Stamp
                        Act''.
                    (G) Section 203 of the Emergency Wetlands Resources
                Act of 1986 (16 U.S.C. 3912) is amended by striking
                ``Act of March 16, 1934'' and inserting ``Migratory
                Bird Hunting and Conservation Stamp Act''.
                    (H) Clause (ii) of section 504(1) of title 18,
                United States Code, is amended by striking ``Migratory
                Bird Hunting Stamp Act of 1934'' and inserting
                ``Migratory Bird Hunting and Conservation Stamp Act (16
                U.S.C. 718 et seq.)''.
                    (I) Section 28(f) of the Act of August 13, 1954 (25
                U.S.C. 564w-1(f) is amended--
                            (i) in the second sentence, by striking
                        ``Migratory Bird Hunting Stamp Act of March 16,
                        1934, as amended (16 U.S.C. 718)'' and
                        inserting ``Migratory Bird Hunting and
                        Conservation Stamp Act (16 U.S.C. 718 et
                        seq.)''; and
                            (ii) in the third sentence, by striking
                        ``section 4 of the Act of March 16, 1934 (48
                        Stat. 451), as amended or supplemented'' and
                        inserting ``section 4 of the Migratory Bird
                        Hunting and Conservation Stamp Act (16 U.S.C.
                        718d)''.
            (2) Migratory bird hunting and conservation stamp.--
                    (A) The first section and section 10 of the Act of
                March 16, 1934 (16 U.S.C. 718a, 718j), are amended by
                striking ``migratory-bird hunting and conservation
                stamp'' each place it appears and inserting ``migratory
                bird hunting and conservation stamp''.
                    (B) Section 2(a) of the Act of March 16, 1934 (16
                U.S.C. 718b(a)), is amended in the fifth sentence by
                striking ``migratory-bird hunting stamps'' and
                inserting ``migratory bird hunting and conservation
                stamps''.
                    (C) Sections 4(a) and 5(c) of the Act of March 16,
                1934 (16 U.S.C. 718d(a), 718e(c)), are amended by
                striking ``migratory bird hunting stamps'' each place
                it appears and inserting ``migratory bird hunting and
                conservation stamps''.
                    (D) Section 5(a) of the Act of March 16, 1934 (16
                U.S.C. 718e(a)), is amended by striking ``migratory-
                bird hunting stamp'' and inserting ``migratory bird
                hunting and conservation stamp''.
                    (E) Section 2(4) of the Act of September 28, 1962
                (16 U.S.C. 460k-1(4)), is amended by striking
                ``migratory bird hunting stamps'' and inserting
                ``migratory bird hunting and conservation stamps''.
                    (F) Section 203(b)(4)(A) of the Sikes Act (16
                U.S.C. 670i(b)(4)(A)) is amended by striking
                ``migratory bird hunting stamp'' and inserting
                ``migratory bird hunting and conservation stamp''.
                    (G) Section 3(a) of the Act of July 30, 1956 (16
                U.S.C. 718b-1), is amended by striking ``migratory-bird
                hunting stamps'' and inserting ``migratory bird hunting
                and conservation stamps''.

Summary: Migratory Bird Hunting and Conservation Stamp Promotion Act of 1998 - Amends the Act commonly referred to as the Migratory Bird Hunting and Conservation Stamp Act to: (1) make such title the legislated short title. And (2) allow the Secretary of the Interior, subject to approval of an annual marketing plan by the Migratory Bird Conservation Commission, to use from receipts from the sale of migratory bird hunting and conservation stamps an amount not to exceed $1 million for each FY from 1999 through 2003 for the promotion of additional stamp sales. Requires the Secretary to: (1) include in each report under the Migratory Bird Conservation Act a statement of all expenditures. And (2) provide a copy to the Commission and specified congressional committees.


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Pathways to Prosperity Act of
2014''.

SEC. 2. REFERENCES.

    Except as otherwise expressly provided, wherever in this Act an
amendment or repeal is expressed in terms of an amendment to, or repeal
of, a section or other provision, the reference shall be considered to
be made to a section or other provision of the Carl D. Perkins Career
and Technical Education Act (20 U.S.C. 2301 et seq.).

SEC. 3. DEFINITIONS.

    Section 3 (20 U.S.C. 2302) is amended--
            (1) by redesignating paragraphs (6) through (9), (10)
        through (17), (18), (19), and (20) through (34) as paragraphs
        (7) through (10), (12) through (19), (21), (22), and (24)
        through (38), respectively;
            (2) by inserting after paragraph (5) the following:
            ``(6) Career and technical education program of study.--The
        term `career and technical education program of study' means a
        coordinated, non-duplicative sequence of secondary and
        postsecondary academic and technical courses that--
                    ``(A) contain rigorous, State-identified college
                and career readiness standards that address both
                academic and technical content and align to local,
                regional, or State labor market needs, as identified by
                employers and labor market information;
                    ``(B) support attainment of career readiness
                skills;
                    ``(C) progress in content specificity (beginning
                with all aspects of an industry or career cluster
                leading to more occupationally specific instruction);
                    ``(D) incorporate multiple entry and exit points
                with portable demonstrations of technical competency,
                which may include postsecondary education credits as
                recognized by credit transfer or articulation
                agreements or industry-recognized credentials; and
                    ``(E) culminate in the attainment of an industry-
                recognized credential, an apprenticeship or
                postsecondary certificate, or an associate or
                baccalaureate degree.'';
            (3) by inserting after paragraph (10), as redesignated by
        paragraph (1) of this section, the following:
            ``(11) Credit transfer agreement.--The term `credit
        transfer agreement' refers to an opportunity for secondary
        students to be awarded transcripted postsecondary credit,
        supported with formal agreements among secondary and
        postsecondary education systems, such as dual enrollment, dual
        credit, 2-year to 4-year college articulation agreements, or
        articulated credit, which may include credit awarded for
        performance on technical assessments.'';
            (4) by inserting after paragraph (19), as redesignated by
        paragraph (1) of this section, the following:
            ``(20) Industry-recognized credential.--The term `industry-
        recognized credential' means a credential that--
                    ``(A) is sought or accepted by employers within the
                industry or sector involved as a recognized, preferred,
                or required credential for recruitment, screening,
                hiring, retention or advancement purposes; and
                    ``(B) if appropriate, is endorsed by a nationally
                recognized trade association or organization
                representing a significant part of the industry or
                sector.''; and
            (5) by inserting after paragraph (22), as redesignated by
        paragraph (1) of this section, the following:
            ``(23) Labor market information.--The term `labor market
        information' means economic, social, and demographic
        information that--
                    ``(A) pertains to labor markets for the purposes of
                determining the supply of, and demand for, labor and
                related skills and competencies; and
                    ``(B) supports students, job seekers, employers,
                developers of curricula, and other relevant
                stakeholders in understanding labor market and economic
                trends to help make informed labor market decisions.''.

SEC. 4. ACCOUNTABILITY.

    Section 113(b)(2) of the Carl D. Perkins Career and Technical
Education Act (20 U.S.C. 2323(b)(2)) is amended--
            (1) in subparagraph (A), by striking clause (vi); and
            (2) in subparagraph (B), by striking clause (v) and
        inserting the following:
                            ``(v) the median earnings of students who
                        are employed during the second quarter after
                        completing a career and technical education
                        program of study in the State. The Secretary
                        shall, consistent with State law, ensure that
                        the necessary wage records are available to
                        enable eligible agencies to collect data
                        relating to this State performance measure.''.

SEC. 5. NATIONAL ACTIVITIES.

    Section 114(d)(4)(A) (20 U.S.C. 2324) is amended--
            (1) by redesignating clause (iv) as clause (v);
            (2) in clause (iii), by striking ``and'' after the
        semicolon; and
            (3) by inserting after clause (iii) the following:
                            ``(iv) to engage in evaluation and
                        technical assistance activities that will
                        assist in--
                                    ``(I) collecting information on the
                                industry-recognized credentials awarded
                                to participants in career and technical
                                education programs of study,
                                including--
                                            ``(aa) the name of such
                                        industry-recognized
                                        credentials;
                                            ``(bb) the awarding body;
                                            ``(cc) the duration of the
                                        program of study for the
                                        credential; and
                                            ``(dd) the number of such
                                        participants receiving the
                                        credential; and
                                    ``(II) developing the necessary
                                infrastructure to support the State and
                                local reporting of information
                                described in subclause (I), including
                                through activities such as
                                establishing--
                                            ``(aa) data sharing
                                        agreements with State licensing
                                        agencies and with industry
                                        associations and employers who
                                        award certifications or other
                                        industry-recognized
                                        credentials;
                                            ``(bb) a consistent
                                        reporting method across States;
                                        and
                                            ``(cc) a collection system
                                        to process reports in a timely
                                        fashion; and''.

SEC. 6. STATE LEADERSHIP ACTIVITIES.

    Section 124(b) (20 U.S.C. 2341(a)) is amended--
            (1) in paragraph (8), by striking ``and'' after the
        semicolon;
            (2) in paragraph (9) by striking the period at the end and
        inserting ``; and''; and
            (3) by adding at the end the following:
            ``(10) establishing statewide credit transfer agreements
        aligned to approved career and technical education programs of
        study.''.

SEC. 7. LOCAL PLAN FOR CAREER AND TECHNICAL EDUCATION PROGRAMS.

    Section 134(b) (20 U.S.C. 2354(b)) is amended--
            (1) in paragraph (11), by striking ``and'' after the
        semicolon;
            (2) in paragraph (12) by striking the period at the end and
        inserting ``; and''; and
            (3) by adding at the end the following:
            ``(13) describe how the eligible recipient will partner
        with business and industry to--
                    ``(A) identify opportunities for experiential and
                work-based learning opportunities either in-person or
                virtually;
                    ``(B) ensure career and technical education
                programs of study are responsive to community and
                employment demands and are--
                            ``(i) aligned with employment priorities in
                        the State, regional, or local economy
                        identified by employers and other relevant
                        stakeholders identified in section 134(b)(5);
                            ``(ii) informed by labor market
                        information; and
                            ``(iii) designed to meet current,
                        intermediate, and long term labor market
                        projections;
                    ``(C) ensure funding under this Act is spent in a
                coordinated manner with other local resources.''.

SEC. 8. AMENDMENT TO THE ELEMENTARY AND SECONDARY EDUCATION ACT OF
              1965.

    Section 1502(a) of the Elementary and Secondary Education Act of
1965 (20 U.S.C. 6492(a)) is amended by striking ``challenging State
academic content standards and challenging State student academic
achievement standards'' and inserting ``rigorous, State-identified
college and career readiness standards that address both academic
content and career and technical education content identified under
section 113(b)(2)(A)(ii) of the Carl D. Perkins Career and Technical
Education Act.''.

Summary: Pathways to Prosperity Act of 2014 - Amends the Carl D. Perkins Career and Technical Education Act to replace specified minimum measures of student attainment in the core indicators of performance for career and technical education students at the secondary level with a measure of the median earnings of students employed during the second quarter after completing a career and technical education program of study in the state. Requires the national research center, established under the Act, to engage in evaluation and technical assistance activities that will assist in: (1) collecting information on the industry-recognized credentials awarded to participants in career and technical education programs, and (2) developing the necessary infrastructure to support the state and local reporting of specified related information. Makes it a responsibility of the state agency involved to establish statewide credit transfer agreements aligned to approved career and technical education programs of study. Requires each local plan for career and technical education programs to describe how the eligible recipient of assistance will partner with business and industry to: (1) identify opportunities for experiential and work-based learning opportunities either in-person or virtually, (2) ensure the career and technical education programs of study are responsive to community and employment demands and meet other specified criteria, and (3) ensure funding under the Act is spent in a coordinated manner with other local resources. Amends the Elementary and Secondary Education Act of 1965 to revise the purpose of grants for demonstration projects of innovative practices to require the projects to show the most promise of enabling the children served to meet rigorous, state-identified college and career readiness standards that address both certain academic content and certain career and technical education content.

Pathways to Prosperity Act of 2014


SECTION 1. INDEXING OF CERTAIN ASSETS FOR PURPOSES OF DETERMINING GAIN.

    (a) In General.--Part II of subchapter O of chapter 1 of the
Internal Revenue Code of 1986 (relating to basis rules of general
application) is amended by inserting after section 1021 the following
new section:

``SEC. 1022. INDEXING OF CERTAIN ASSETS FOR PURPOSES OF DETERMINING
              GAIN.

    ``(a) General Rule.--
            ``(1) Indexed basis substituted for adjusted basis.--Solely
        for purposes of determining gain on the sale or other
        disposition by an individual of an indexed asset which has been
        held for more than 1 year, the indexed basis of the asset shall
        be substituted for its adjusted basis.
            ``(2) Special rule for recapture gain.--
                    ``(A) In general.--Paragraph (1) shall not apply
                for purposes of determining the amount of recapture
                gain on the sale or other disposition of an indexed
                asset, but the amount of any such recapture gain shall
                increase the adjusted basis of the asset for purposes
                of applying paragraph (1) to determine the amount of
                other gain on such sale or other disposition.
                    ``(B) Recapture gain.--For purposes of subparagraph
                (A), the term `recapture gain' means any gain treated
                as ordinary income under section 1245 or 1254 or which
                would be treated as ordinary income under section 1250
                if such section applied to all depreciation adjustments
                instead of only additional depreciation.
    ``(b) Indexed Asset.--
            ``(1) In general.--For purposes of this section, the term
        `indexed asset' means--
                    ``(A) any stock in a corporation, and
                    ``(B) any tangible property (or any interest
                therein),
        which is a capital asset or property used in the trade or
        business (as defined in section 1231(b)).
            ``(2) Certain property excluded.--For purposes of this
        section, the term `indexed asset' does not include--
                    ``(A) Creditor's interest.--Any interest in
                property which is in the nature of a creditor's
                interest.
                    ``(B) Collectibles.--Any collectible (as defined in
                section 408(m)(2) without regard to section 408(m)(3)).
                    ``(C) Options.--Any option or other right to
                acquire an interest in property.
                    ``(D) Net lease property.--In the case of a lessor,
                net lease property (within the meaning of subsection
                (i)(3)).
                    ``(E) Certain preferred stock.--Stock which is
                fixed and preferred as to dividends and does not
                participate in corporate growth to any significant
                extent.
                    ``(F) Stock in foreign corporations.--Stock in a
                foreign corporation.
                    ``(G) Stock in s corporations.--Stock in an S
                corporation.
            ``(3) Exception for stock in foreign corporation which is
        regularly traded on national or regional exchange.--Paragraph
        (2)(F) shall not apply to stock in a foreign corporation the
        stock of which is listed on the New York Stock Exchange, the
        American Stock Exchange, or any domestic regional exchange for
        which quotations are published on a regular basis or is
        authorized for trading on the national market system operated
        by the National Association of Securities Dealers other than--
                    ``(A) stock of a foreign investment company (within
                the meaning of section 1246(b)),
                    ``(B) stock in a passive foreign investment company
                (as defined in section 1296), and
                    ``(C) stock in a foreign corporation held by a
                United States person who meets the requirements of
                section 1248(a)(2).
    ``(c) Indexed Basis.--For purposes of this section--
            ``(1) Indexed basis.--The indexed basis for any asset is--
                    ``(A) the adjusted basis of the asset, multiplied
                by
                    ``(B) the applicable inflation ratio.
            ``(2) Applicable inflation ratio.--The applicable inflation
        ratio for any asset shall be determined by dividing--
                    ``(A) the CPI for the calendar year preceding the
                calendar year in which the disposition takes place, by
                    ``(B) the CPI for the calendar year preceding the
                calendar year in which the taxpayer's holding period
                for such asset began (or, if later, for calendar year
                1992).
        The applicable inflation ratio shall not be taken into account
        unless it is greater than 1. The applicable inflation ratio for
        any asset shall be rounded to the nearest one-hundredth.
            ``(3) Conventions.--For purposes of paragraph (2), if any
        asset is disposed of during any calendar year--
                    ``(A) such disposition shall be treated as
                occurring on the last day of such calendar year, and
                    ``(B) the taxpayer's holding period for such asset
                shall be treated as beginning in the same calendar year
                as would be determined for an asset actually disposed
                of on such last day with a holding period of the same
                length as the actual holding period of the asset
                involved.
            ``(4) CPI.--For purposes of this subsection, the CPI for
        any calendar year shall be determined under section 1(f)(4).
    ``(d) Short Sales.--
            ``(1) In general.--In the case of a short sale of an
        indexed asset with a short sale period in excess of 1 year, for
        purposes of this title, the amount realized shall be an amount
        equal to the amount realized (determined without regard to this
        paragraph) multiplied by the applicable inflation ratio. In
        applying subsection (c)(2) for purposes of the preceding
        sentence, the date on which the property is sold short shall be
        treated as the date on which the holding period for the asset
        begins and the closing date for the sale shall be treated as
        the date of disposition.
            ``(2) Short sale of substantially identical property.--If
        the taxpayer or the taxpayer's spouse sells short property
        substantially identical to an asset held by the taxpayer, the
        asset held by the taxpayer and the substantially identical
        property shall not be treated as indexed assets for the short
        sale period.
            ``(3) Short sale period.--For purposes of this subsection,
        the short sale period begins on the day after property is sold
        and ends on the closing date for the sale.
    ``(e) Treatment of Regulated Investment Companies and Real Estate
Investment Trusts.--
            ``(1) Adjustments at entity level.--
                    ``(A) In general.--Except as otherwise provided in
                this paragraph, the adjustment under subsection (a)
                shall be allowed to any qualified investment entity
                (including for purposes of determining the earnings and
                profits of such entity).
                    ``(B) Exception for corporate shareholders.--Under
                regulations--
                            ``(i) in the case of a distribution by a
                        qualified investment entity (directly or
                        indirectly) to a corporation--
                                    ``(I) the determination of whether
                                such distribution is a dividend shall
                                be made without regard to this section,
                                and
                                    ``(II) the amount treated as gain
                                by reason of the receipt of any capital
                                gain dividend shall be increased by the
                                percentage by which the entity's net
                                capital gain for the taxable year
                                determined without regard to this
                                section exceeds the entity's net
                                capital gain for such year determined
                                with regard to this section, and
                            ``(ii) there shall be other appropriate
                        adjustments (including deemed distributions) so
                        as to ensure that the benefits of this section
                        are not allowed (directly or indirectly) to
                        corporate shareholders of qualified investment
                        entities.
                For purposes of the preceding sentence, any amount
                includible in gross income under section 852(b)(3)(D)
                shall be treated as a capital gain dividend and an S
                corporation shall not be treated as a corporation.
                    ``(C) Exception for qualification purposes.--This
                section shall not apply for purposes of sections 851(b)
                and 856(c).
                    ``(D) Exception for certain taxes imposed at entity
                level.--
                            ``(i) Tax on failure to distribute entire
                        gain.--If any amount is subject to tax under
                        section 852(b)(3)(A) for any taxable year, the
                        amount on which tax is imposed under such
                        section shall be increased by the percentage
                        determined under subparagraph (B)(i)(II). A
                        similar rule shall apply in the case of any
                        amount subject to tax under paragraph (2) or
                        (3) of section 857(b) to the extent
                        attributable to the excess of the net capital
                        gain over the deduction for dividends paid
                        determined with reference to capital gain
                        dividends only. The first sentence of this
                        clause shall not apply to so much of the amount
                        subject to tax under section 852(b)(3)(A) as is
                        designated by the company under section
                        852(b)(3)(D).
                            ``(ii) Other taxes.--This section shall not
                        apply for purposes of determining the amount of
                        any tax imposed by paragraph (4), (5), or (6)
                        of section 857(b).
            ``(2) Adjustments to interests held in entity.--
                    ``(A) In general.--Stock in a qualified investment
                entity shall be an indexed asset for any calendar month
                in the same ratio as the fair market value of the
                assets held by such entity at the close of such month
                which are indexed assets bears to the fair market value
                of all assets of such entity at the close of such
                month.
                    ``(B) Ratio of 90 percent or more.--If the ratio
                for any calendar month determined under subparagraph
                (A) would (but for this subparagraph) be 90 percent or
                more, such ratio for such month shall be 100 percent.
                    ``(C) Ratio of 10 percent or less.--If the ratio
                for any calendar month determined under subparagraph
                (A) would (but for this subparagraph) be 10 percent or
                less, such ratio for such month shall be zero.
                    ``(D) Valuation of assets in case of real estate
                investment trusts.--Nothing in this paragraph shall
                require a real estate investment trust to value its
                assets more frequently than once each 36 months (except
                where such trust ceases to exist). The ratio under
                subparagraph (A) for any calendar month for which there
                is no valuation shall be the trustee's good faith
                judgment as to such valuation.
            ``(3) Qualified investment entity.--For purposes of this
        subsection, the term `qualified investment entity' means--
                    ``(A) a regulated investment company (within the
                meaning of section 851), and
                    ``(B) a real estate investment trust (within the
                meaning of section 856).
    ``(f) Other Pass-Thru Entities.--
            ``(1) Partnerships.--
                    ``(A) In general.--In the case of a partnership,
                the adjustment made under subsection (a) at the
                partnership level shall be passed through to the
                partners (but only for purposes of determining the
                income of partners who are individuals).
                    ``(B) Special rule in the case of section 754
                elections.--In the case of a transfer of an interest in
                a partnership with respect to which the election
                provided in section 754 is in effect--
                            ``(i) the adjustment under section
                        743(b)(1) shall, with respect to the transferor
                        partner, be treated as a sale of the
                        partnership assets for purposes of applying
                        this section, and
                            ``(ii) with respect to the transferee
                        partner, the partnership's holding period for
                        purposes of this section in such assets shall
                        be treated as beginning on the date of such
                        adjustment.
            ``(2) S corporations.--In the case of an S corporation, the
        adjustment made under subsection (a) at the corporate level
        shall be passed through to the shareholders. This section shall
        not apply for purposes of determining the amount of any tax
        imposed by section 1374 or 1375.
            ``(3) Common trust funds.--In the case of a common trust
        fund, the adjustment made under subsection (a) at the trust
        level shall be passed through to the participants (but only for
        purposes of determining the income of participants who are
        individuals).
    ``(g) Dispositions Between Related Persons.--This section shall not
apply to any sale or other disposition of property between related
persons (within the meaning of section 465(b)(3)(C)) if such property,
in the hands of the transferee, is of a character subject to the
allowance for depreciation provided in section 167.
    ``(h) Transfers To Increase Indexing Adjustment.--If any person
transfers cash, debt, or any other property to another person and the
principal purpose of such transfer is to secure or increase an
adjustment under subsection (a), the Secretary may disallow part or all
of such adjustment or increase.
    ``(i) Special Rules.--For purposes of this section--
            ``(1) Treatment as separate asset.--In the case of any
        asset, the following shall be treated as a separate asset:
                    ``(A) A substantial improvement to property.
                    ``(B) In the case of stock of a corporation, a
                substantial contribution to capital.
                    ``(C) Any other portion of an asset to the extent
                that separate treatment of such portion is appropriate
                to carry out the purposes of this section.
            ``(2) Assets which are not indexed assets throughout
        holding period.--The applicable inflation ratio shall be
        appropriately reduced for periods during which the asset was
        not an indexed asset.
            ``(3) Net lease property defined.--The term `net lease
        property' means leased property where--
                    ``(A) the term of the lease (taking into account
                options to renew) was 50 percent or more of the useful
                life of the property, and
                    ``(B) for the period of the lease, the sum of the
                deductions with respect to such property which are
                allowable to the lessor solely by reason of section 162
                (other than rents and reimbursed amounts with respect
                to such property) is 15 percent or less of the rental
                income produced by such property.
    ``(j) Regulations.--The Secretary shall prescribe such regulations
as may be necessary or appropriate to carry out the purposes of this
section.''
    (b) Clerical Amendment.--The table of sections for part II of
subchapter O of chapter 1 is amended by inserting after the item
relating to section 1021 the following new item:

                              ``Sec. 1022. Indexing of certain assets
                                        acquired after 1991 for
                                        purposes of determining gain.''
    (c) Effective Date.--The amendments made by this section shall
apply to dispositions of any property after the date of the enactment
of this Act.

Summary: Amends the Internal Revenue Code to require indexing, based on the consumer price index, of the adjusted basis of certain assets that have been held for more than one year at the time of sale or other transfer, solely for the purpose of determining gain or loss.

To amend the Internal Revenue Code of 1986 to index the basis of certain assets for purposes of determining gain.


SECTION 1. ERISA PREEMPTION NOT TO APPLY TO CERTAIN STATE LAW CAUSES OF
              ACTION.

    (a) In General.--Section 514 of the Employee Retirement Income
Security Act of 1974 (29 U.S.C. 1144) is amended--
            (1) by redesignating subsections (d) and (e) as subsection
        (e) and (f), respectively, and
            (2) by inserting after subsection (c) the following new
        subsection:
    ``(d) Preemption Not To Apply to Causes of Action Under State Law
Involving Medically Reviewable Decision.--
            ``(1) In general.--Except as provided in this subsection,
        nothing in this title (including section 502) shall be
        construed to supersede or otherwise alter, amend, modify,
        invalidate, or impair any cause of action under State law of a
        participant or beneficiary under a group health plan (or the
        estate of such a participant or beneficiary) against the plan,
        the plan sponsor, any health insurance issuer offering health
        insurance coverage in connection with the plan, or any managed
        care entity in connection with the plan to recover damages
        resulting from personal injury or for wrongful death if such
        cause of action arises by reason of a medically reviewable
        decision.
            ``(2) Definitions and related rules.--For purposes of this
        subsection--
                    ``(A) Medically reviewable decision.--The term
                `medically reviewable decision' means a denial of a
                claim for benefits under the plan.
                    ``(B) Personal injury.--The term `personal injury'
                means a physical injury and includes an injury arising
                out of the treatment (or failure to treat) a mental
                illness or disease.
                    ``(C) Claim for benefit.--The term `claim for
                benefits' means any request for coverage (including
                authorization of coverage), for eligibility, or for
                payment (or reimbursement for payment) in whole or in
                part, for an item or service under a group health plan
                or health insurance coverage.
                    ``(D) Denial of claim for benefits.--The term
                `denial' means, with respect to a claim for benefits, a
                denial (in whole or in part) of, or a failure to act on
                a timely basis upon, the claim for benefits and
                includes a failure to provide benefits (including items
                and services) required to be provided under this title.
                    ``(E) Managed care entity.--
                            ``(i) In general.--The term `managed care
                        entity' means, in connection with a group
                        health plan and subject to clause (ii), any
                        entity that is involved in determining the
                        manner in which or the extent to which items or
                        services (or reimbursement therefor) are to be
                        provided as benefits under the plan.
                            ``(ii) Treatment of treating physicians,
                        other treating health care professionals, and
                        treating hospitals.--Such term does not include
                        a treating physician or other treating health
                        care professional of the participant or
                        beneficiary and also does not include a
                        treating hospital insofar as it is acting
                        solely in the capacity of providing treatment
                        or care to the participant or beneficiary.
                        Nothing in the preceding sentence shall be
                        construed to preempt vicarious liability of any
                        plan, plan sponsor, health insurance issuer, or
                        managed care entity.
            ``(3) Exclusion of employers and other plan sponsors.--
                    ``(A) Causes of action against employers and plan
                sponsors precluded.--Subject to subparagraph (B),
                paragraph (1) does not apply with respect to--
                            ``(i) any cause of action against an
                        employer or other plan sponsor maintaining the
                        plan (or against an employee of such an
                        employer or sponsor acting within the scope of
                        employment), or
                            ``(ii) a right of recovery, indemnity, or
                        contribution by a person against an employer or
                        other plan sponsor (or such an employee) for
                        damages assessed against the person pursuant to
                        a cause of action to which paragraph (1)
                        applies.
                    ``(B) Certain causes of action permitted.--
                Notwithstanding subparagraph (A), paragraph (1) applies
                with respect to any cause of action that is brought by
                a participant or beneficiary under a group health plan
                (or the estate of such a participant or beneficiary) to
                recover damages resulting from personal injury or for
                wrongful death against any employer or other plan
                sponsor maintaining the plan (or against an employee of
                such an employer or sponsor acting within the scope of
                employment) if such cause of action arises by reason of
                a medically reviewable decision, to the extent that
                there was direct participation by the employer or other
                plan sponsor (or employee) in the decision.
                    ``(C) Direct participation.--
                            ``(i) Direct participation in decisions.--
                        For purposes of subparagraph (B), the term
                        `direct participation' means, in connection
                        with a decision described in subparagraph (B),
                        the actual making of such decision or the
                        actual exercise of control in making such
                        decision or in the conduct constituting the
                        failure.
                            ``(ii) Rules of construction.--For purposes
                        of clause (i), the employer or plan sponsor (or
                        employee) shall not be construed to be engaged
                        in direct participation because of any form of
                        decisionmaking or other conduct that is merely
                        collateral or precedent to the decision
                        described in subparagraph (B) on a particular
                        claim for benefits of a particular participant
                        or beneficiary, including (but not limited
                        to)--
                                    ``(I) any participation by the
                                employer or other plan sponsor (or
                                employee) in the selection of the group
                                health plan or health insurance
                                coverage involved or the third party
                                administrator or other agent;
                                    ``(II) any engagement by the
                                employer or other plan sponsor (or
                                employee) in any cost-benefit analysis
                                undertaken in connection with the
                                selection of, or continued maintenance
                                of, the plan or coverage involved;
                                    ``(III) any participation by the
                                employer or other plan sponsor (or
                                employee) in the process of creating,
                                continuing, modifying, or terminating
                                the plan or any benefit under the plan,
                                if such process was not substantially
                                focused solely on the particular
                                situation of the participant or
                                beneficiary referred to in paragraph
                                (1)(A); and
                                    ``(IV) any participation by the
                                employer or other plan sponsor (or
                                employee) in the design of any benefit
                                under the plan, including the amount of
                                copayment and limits connected with
                                such benefit.''.
    (b) Conforming Amendment.--Section 502(b)(4) of such Act (29 U.S.C.
1132(b)(4)) is amended by striking ``514(e)(3)'' and inserting
``514(f)(3)''.
    (c) Effective Date.--The amendments made by this section shall
apply to acts and omissions (from which a cause of action arises)
occurring on or after the date of the enactment of this Act.

Summary: Amends the Employee Retirement Income Security Act of 1974 (ERISA) to preclude federal preemption of a cause of action brought under state law by a participant or beneficiary under a group health plan to recover damages resulting from personal injury or for wrongful death against the plan, the plan sponsor, any health insurance issuer offering health insurance coverage in connection with the plan, or any managed care entity in connection with the plan if such cause of action arises by reason of a medically reviewable decision denying a benefits claim. Allows such a cause of action under state law against any employer or other plan sponsor maintaining the plan to the extent that there was direct participation by the employer or other plan sponsor in such decision. Declares that this waiver of federal preemption does not apply with respect to: (1) any cause of action against an employer or other plan sponsor maintaining the plan , except where the employer or plan sponsor participated directly in the decision to deny the claim. Or (2) a right of recovery, indemnity, or contribution by a person against an employer or other plan sponsor for damages assessed against the person pursuant to a cause of action under state law allowed by this Act.

To amend the Employee Retirement Income Security Act of 1974 to preclude preemption of a State cause of action relating to a denial of a claim for benefits under a health care plan.


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Arsenic-Treated Wood Mandatory
Labeling Act''.

SEC. 2. FINDINGS.

    Congress finds that--
            (1) inorganic arsenic compounds, such as chromated copper
        arsenate (referred to in this Act as ``CCA''), are used as wood
        preservatives;
            (2) according to the Environmental Protection Agency--
                    (A) inorganic arsenic is a human poison;
                    (B) exposure to inorganic arsenic may be fatal; and
                    (C) at low levels, inorganic arsenic exposure may
                cause--
                            (i) nausea, vomiting, and diarrhea;
                            (ii) decreased production of red and white
                        blood cells;
                            (iii) abnormal heart rhythm; and
                            (iv) blood vessel damage;
            (3) the Department of Health and Human Services has
        determined that arsenic is a known carcinogen;
            (4) breathing inorganic arsenic increases the risk of lung
        cancer;
            (5) ingesting inorganic arsenic increases the risk of skin
        cancer and tumors of the bladder, kidney, liver, and lung;
            (6) to protect against health risks associated with the use
        of CCA, CCA is classified as a ``restricted use chemical'';
            (7) as a restricted use chemical, CCA may be purchased and
        used only by a certified applicator (or a person under the
        direct supervision of a certified applicator) whose
        certification specifically covers the purchase and use of CCA;
            (8) individuals who use arsenic to treat wood are required
        to wear--
                    (A) protective clothing; and
                    (B) a respirator, if the level of arsenic in the
                ambient air of the workplace of the individual--
                            (i) is unknown; or
                            (ii) exceeds the permissible exposure limit
                        of 10 micrograms per cubic meter of air
                        averaged over an 8-hour workday, as required
                        under standards established by the Occupational
                        Safety and Health Administration;
            (9) producers of pressure-treated wood are required to
        provide consumer information sheets to all lumber yards and
        other retailers of treated wood products;
            (10) those information sheets provide instructions on how
        consumers should handle treated wood products, such as
        instructions on the use of protective gloves, coveralls, and
        face masks when sawing treated wood products; and
            (11) because many consumers in the United States are
        unaware of the dangers of mishandling arsenic-treated wood, an
        appropriate consumer warning label should be affixed to each
        piece of arsenic-treated wood sold in the United States.

SEC. 3. LABELING OF ARSENIC-TREATED WOOD.

    The Agricultural Marketing Act of 1946 (7 U.S.C. 1621 et seq.) is
amended by adding at the end the following:

          ``Subtitle D--Commodity-Specific Labeling Standards

``SEC. 281. DEFINITION OF SECRETARY.

    ``In this subtitle, the term `Secretary' means the Secretary of
Agriculture.

``SEC. 282. LABELING OF ARSENIC-TREATED WOOD.

    ``Each piece of arsenic-treated wood offered for sale in the United
States shall have affixed to the piece of wood a consumer warning label
that displays each of the following statements (or substantially
similar statements, as determined by the Secretary):
            ``(1) `This piece of wood has been treated with arsenic.'.
            ``(2) `Arsenic exposure through the mishandling of this
        wood can cause cancer, nausea, vomiting, or diarrhea.'.
            ``(3) `Never burn this wood; doing so will release arsenic
        into the air.'.
            ``(4) `To avoid the health risks associated with
        mishandling arsenic-treated wood, you must wear gloves,
        goggles, coveralls, and face masks when working with it.'.
            ``(5) `Wash exposed body areas thoroughly with soap and
        water after working with arsenic-treated wood.'.

``SEC. 283. REGULATIONS.

    ``The Secretary shall promulgate such regulations as are necessary
to ensure compliance with, and otherwise carry out, this subtitle.

``SEC. 284. AUTHORIZATION OF APPROPRIATIONS.

    ``There are authorized to be appropriated such sums as are
necessary to carry out this subtitle.''.

SEC. 4. REPORTS TO CONGRESS.

    (a) Definitions.--In this section:
            (1) Administrator.--The term ``Administrator'' means the
        Administrator of the Environmental Protection Agency.
            (2) Secretary.--The term ``Secretary'' means the Secretary
        of Health and Human Services.
    (b) Report on Ongoing Arsenic Review.--Not later than 60 days after
the date of enactment of this Act, the Administrator, in consultation
with the Secretary, shall submit to Congress a report that--
            (1) provides an update on the status of any ongoing review
        by the Environmental Protection Agency of the health risks
        associated with exposure to arsenic (including an estimated
        date of completion of the review); and
            (2) includes recommendations for interim guidelines,
        pending the completion of the review described in paragraph
        (1), for the use of arsenic-treated wood in public and
        recreational facilities (including parks and playground
        equipment).
    (c) Report on Results of Arsenic Review.--Not later than 30 days
after the date of completion of the review described in subsection
(b)(1), the Administrator, in consultation with the Secretary, shall
submit to Congress a report that--
            (1) describes the results of the review; and
            (2) includes recommendations for final guidelines, pending
        the completion of the review described in paragraph (1), for
        the use of arsenic-treated wood in public and recreational
        facilities (including parks and playground equipment).

Summary: Arsenic-Treated Wood Mandatory Labeling Act - Amends the Agricultural Marketing Act of 1946 to require that a specified warning label be affixed to arsenic-treated wood sold in the United States.

To amend the Agricultural Marketing Act of 1946 to require that a warning label be affixed to arsenic-treated wood sold in the United States.


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Protecting Neighborhoods from Oil
Pollution Act of 2011''.

SEC. 2. OIL STORAGE AND PROCESSING FACILITIES.

    Section 311 of the Federal Water Pollution Control Act (33 U.S.C.
1321) is amended by adding at the end the following:
    ``(s) Oil Storage and Processing Facilities.--
            ``(1) Closure.--Not later than 6 months after the date of
        enactment of the Protecting Neighborhoods from Oil Pollution
        Act of 2011, the Administrator shall issue final regulations
        requiring an owner or operator of an oil storage or processing
        facility to permanently close the oil storage or processing
        facility if one or both of the following conditions apply:
                    ``(A) The oil storage or processing facility is
                located within 1 mile of 100 or more residential units,
                and 2 or more covered discharges occur at the oil
                storage or processing facility within any 10-year
                period.
                    ``(B) The oil storage or processing facility is the
                source of groundwater contamination affecting 100 or
                more residential units.
            ``(2) Regulations.--The Administrator shall include in
        regulations issued under paragraph (1) the following:
                    ``(A) A definition of the term `permanently close',
                to include requirements that--
                            ``(i) all liquid and sludge are removed
                        from each container and connecting line
                        associated with the oil storage or processing
                        facility;
                            ``(ii) all connecting lines and piping
                        associated with the oil storage or processing
                        facility are disconnected from each such
                        container and blanked off, all valves (except
                        for ventilation valves) are closed and locked,
                        and conspicuous signs are posted on each such
                        container stating that it is a permanently
                        closed container and noting the date of
                        closure; and
                            ``(iii) all other applicable Federal laws
                        and regulations are followed with respect to
                        clean up and remediation of any other
                        contamination at, or originating from, the oil
                        storage or processing facility.
                    ``(B) Any additional closure and post-closure
                requirements the Administrator determines appropriate.
                    ``(C) A requirement that closure of an oil storage
                or processing facility be completed by one of the
                following deadlines, as applicable:
                            ``(i) Not later than 1 year after the date
                        of enactment of the Protecting Neighborhoods
                        from Oil Pollution Act of 2011, in the case of
                        an oil storage or processing facility at which
                        2 or more covered discharges have occurred on
                        or before such date of enactment.
                            ``(ii) Not later than 1 year after the date
                        on which a second covered discharge occurs at
                        the oil storage or processing facility within
                        any 10-year period, in the case of any oil
                        storage or processing facility not described in
                        clause (i).
                            ``(iii) Not later than 1 year after the
                        date on which the Administrator determines that
                        the oil storage or processing facility is the
                        source of groundwater contamination affecting
                        100 or more residential units.
                    ``(D) Any other requirements the Administrator
                determines appropriate.
            ``(3) Prohibited exemptions.--The Administrator may not
        include in regulations issued under paragraph (1) exemptions to
        any of the requirements of this subsection for covered
        discharges resulting from an act of God, an act of war, or
        negligence on the part of the United States Government.
            ``(4) Waiver and extension authority.--The Administrator
        may waive the requirement for closure of an oil storage or
        processing facility under this subsection, or grant an
        extension of the deadline for such closure, if the
        Administrator determines that the owner or operator of the
        facility has taken or is taking all practicable steps to
        remediate the condition requiring closure under paragraph (1).
            ``(5) Health and welfare authority.--A condition requiring
        closure under paragraph (1) shall be considered to be--
                    ``(A) a substantial threat to the public health or
                welfare of the United States for the purposes of
                subsections (c) and (e); and
                    ``(B) an imminent and substantial endangerment to
                the health of persons or to the welfare of persons for
                the purposes of section 504.
            ``(6) Definitions.--For the purposes of this subsection,
        the following definitions apply:
                    ``(A) Covered discharge.--The term `covered
                discharge' means a discharge of oil greater than 40
                gallons from any source.
                    ``(B) Oil storage or processing facility.--The term
                `oil storage or processing facility' means any
                structure, group of structures, equipment, or device,
                including any associated property, that is used for
                producing, storing, handling, transferring, processing,
                or transporting oil.
            ``(7) Rule of construction.--Nothing in this subsection
        shall be construed to restrict any other Federal or State
        authority regarding the remediation of, or other response to, a
        covered discharge.''.

Summary: Protecting Neighborhoods from Oil Pollution Act of 2011 - Amends the Federal Water Pollution Control Act to require the Administrator of the Environmental Protection Agency (EPA) to issue final regulations requiring an owner or operator to permanently close any oil storage or processing facility that: (1) is located within one mile of 100 or more residential units if two or more discharges of more than 40 gallons of oil occur at such facility within any 10-year period, or (2) is the source of groundwater contamination affecting 100 or more residential units. Requires such closures to be completed by specified deadlines. Requires such regulations to define permanently close to require: (1) all liquid and sludge to be removed from each container and connecting line associated with such facilities. (2) all such connecting lines and piping to be disconnected from such containers and blanked off, all valves to be closed and locked, and conspicuous signs to be posted on each container stating that it is a permanently closed container and noting the date of closure. And (3) other applicable laws to be followed with respect to clean up and remediation of any other contamination at, or originating from, such facilities. Prohibits the Administrator from including in such regulations exemptions to any of the requirements of this Act for discharges resulting from an act of God, an act of war, or US negligence. Authorizes the Administrator to waive the requirement for closure of such facilities or grant an extension of the closure deadline if the Administrator determines that such owners or operators have taken or are taking all practicable steps to remediate the condition requiring closure. Requires such conditions requiring closure to be considered to be: (1) a substantial threat to the public health or welfare of the United States for the purposes of federal removal authority and civil enforcement, or (2) an imminent and substantial endangerment to the health of persons or to the welfare of persons for the purposes of emergency powers.

To amend the Federal Water Pollution Control Act to require the closure of oil storage and processing facilities that have spilled oil multiple times near residential neighborhoods, and for other purposes.


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``NSP Termination Act''.

SEC. 2. RESCISSION OF $1 BILLION FUNDING FOR 3RD ROUND OF NEIGHBORHOOD
              STABILIZATION PROGRAM.

    (a) Recission.--Effective on the date of the enactment of this Act,
there are rescinded and permanently canceled all unobligated balances
remaining available as of such date of enactment of the amounts made
available by section 1497(a) of the Dodd-Frank Wall Street Reform and
Consumer Protection Act (Public Law 111-203; 124 Stat. 2209; 42 U.S.C.
5301 note). All such unobligated balances so rescinded and permanently
canceled should be retained in the General Fund of the Treasury for
reducing the budget deficit of the Federal Government.
    (b) Identification of Amounts Subject to Possible Rescission.--
            (1) In general.--The Secretary of Housing and Urban
        Development has allocated funding to the States, including
        city, county, and municipal governments, under the 3rd round of
        funding for the Neighborhood Stabilization Program, as set
        forth in paragraph (2). Amounts from the allocations set forth
        in paragraph (2) of this subsection will be subject to possible
        rescission and cancellation, to the extent provided in
        subsection (a).
            (2) Allocation.--The allocations set forth in this
        paragraph for the following States are the following amounts:
                    (A) Alaska: $5,000,000.
                    (B) Alabama: $7,576,151.
                    (C) Arizona: $45,377,073.
                    (D) Arkansas: $5,000,000.
                    (E) California: $149,308,651.
                    (F) Colorado: $17,349,270.
                    (G) Connecticut: $9,322,756.
                    (H) District of Columbia: $5,000,000.
                    (I) Delaware: $5,000,000.
                    (J) Florida: $208,437,144.
                    (K) Georgia: $50,421,988.
                    (L) Hawaii: $5,000,000.
                    (M) Iowa: $5,000,000.
                    (N) Idaho: $5,000,000.
                    (O) Illinois: $30,143,105.
                    (P) Indiana: $31,509,101.
                    (Q) Kansas: $6,137,796.
                    (R) Kentucky: $5,000,000.
                    (S) Louisiana: $5,000,000.
                    (T) Massachusetts: $7,387,994.
                    (U) Maryland: $6,802,242.
                    (V) Maine: $5,000,000.
                    (W) Michigan: $57,524,473.
                    (X) Minnesota: $12,427,113.
                    (Y) Missouri: $13,110,604.
                    (Z) Mississippi: $5,000,000.
                    (AA) Montana: $5,000,000.
                    (BB) North Carolina: $5,000,000.
                    (CC) North Dakota: $5,000,000.
                    (DD) Nebraska: $6,183,085.
                    (EE) New Hampshire: $5,000,000.
                    (FF) New Jersey: $11,641,549.
                    (GG) New Mexico: $5,000,000.
                    (HH) Nevada: $43,314,669.
                    (II) New York: $19,834,940.
                    (JJ) Ohio: $51,789,035.
                    (KK) Oklahoma: $5,000,000.
                    (LL) Oregon: $5,000,000.
                    (MM) Pennsylvania: $5,000,000.
                    (NN) Puerto Rico: $5,000,000.
                    (OO) Rhode Island: $6,309,231.
                    (PP) South Carolina: $5,615,020.
                    (QQ) South Dakota: $5,000,000.
                    (RR) Tennessee: $10,195,848.
                    (SS) Texas: $18,038,242.
                    (TT) Utah: $5,000,000.
                    (UU) Virginia: $6,254,970.
                    (VV) Vermont: $5,000,000;
                    (WW) Washington: $5,000,000.
                    (XX) Wisconsin: $7,687,949.
                    (YY) West Virginia: $5,000,000.
                    (ZZ) Wyoming: $5,000,000.

SEC. 3. TERMINATION OF NEIGHBORHOOD STABILIZATION PROGRAM.

    (a) Repeal.--Sections 2301 through 2303 of the Housing and Economic
Recovery Act of 2008 (Public Law 110-289; 122 Stat. 2850; 42 U.S.C.
5301 note) are hereby repealed.
    (b) Treatment of Remaining Funds.--
            (1) Savings clause.--Notwithstanding the repeal under
        subsection (a), any amounts made available under the provisions
        specified in paragraph (2) of this subsection shall continue to
        be governed by any provisions of law applicable to such amounts
        as in effect immediately before such repeal.
            (2) Remaining funds.--The provisions specified in this
        paragraph are as follows:
                    (A) Section 2301(a) of the Housing and Economic
                Recovery Act of 2008 (Public Law 110-289; 122 Stat.
                2850; 42 U.S.C. 5301 note).
                    (B) The second undesignated paragraph under the
                heading ``Department of Housing and Urban Development,
                Community Planning and Development, Community
                Development Fund'' in title XII of division A of the
                American Recovery and Reinvestment Act of 2009 (Public
                Law 111-5, 123 Stat. 217).
    (c) Termination.--Upon the obligation of all amounts made available
under the provisions specified in subsection (b)(2), and outlays to
liquidate all such amounts, the Secretary of Housing and Urban
Development shall terminate the Neighborhood Stabilization Program
authorized under the provisions specified in subsections (a) and
(b)(2).

SEC. 4. PUBLICATION OF MEMBER AVAILABILITY FOR ASSISTANCE.

    Not later than 5 days after the date of the enactment of this Act,
the Secretary of Housing and Urban Development shall publish to its
Website on the World Wide Web in a prominent location, large point
font, and boldface type the following statement: ``The Neighborhood
Stabilization Program (NSP) has been terminated. If you are concerned
about the impact of foreclosed properties on your community, please
contact your Member of Congress, State, county, and local officials for
assistance in mitigating the impacts of foreclosed properties on your
community.''.

SEC. 5. GAO STUDY OF ECONOMIC IMPACTS OF ROUND 3 NSP FUNDING.

    The Comptroller General of the United States shall conduct a study
to determine the economic impacts that providing assistance under the
Neighborhood Stabilization Program, using the funding identified in
section 2, would have on States and communities in the United States,
if such funding were not rescinded and canceled under such section, but
remained available and was used in accordance with the provisions of
law applicable to such amounts as in effect immediately before the
repeal under section 3(a). Not later than the expiration of the 90-day
period beginning on the date of the enactment of this Act, the
Comptroller General shall submit to the Congress a report setting forth
the results and conclusions of the study under this section.

SEC. 6. GAO STUDY OF ECONOMIC IMPACTS OF ROUNDS 1 AND 2 NSP FUNDING.

    The Comptroller General of the United States shall conduct a study
to determine the economic impacts that providing assistance under the
Neighborhood Stabilization Program has had on States and communities in
the United States. The study shall identify such impacts resulting from
the funding under the each of the provisions of law specified in
subparagraphs (A) and (B) of section 3(b)(2). Not later than the
expiration of the 90-day period beginning on the date of the enactment
of this Act, the Comptroller General shall submit to the Congress a
report setting forth the results and conclusions of the study under
this section.

            Passed the House of Representatives March 16, 2011.

            Attest:

                                                 KAREN L. HAAS,

                                                                 Clerk.

Summary: NSP Termination Act - Rescinds and cancels permanently all unobligated balances remaining available, as of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, to the Secretary of Housing and Urban Development (HUD) for assistance to states and local governments for the redevelopment of abandoned and foreclosed homes and residential properties. Urges that all such rescinded and canceled amounts be retained in the Treasury General Fund for reducing the federal budget deficit. Subjects to possible rescission and permanent cancellation certain amounts allocated by the Secretary under the third round of funding for the NSP to specified states, including city, county, and municipal governments. Amends the Housing and Economic Recovery Act of 2008 to repeal emergency FY2008 appropriations for the Program. States that such appropriations, together with amounts made available for the Program in the HUD, Community Planning and Development, Community Development Fund under title XII of division A of the American Recovery and Reinvestment Act of 2009, shall continue to be governed by any provisions of law applicable to such amounts as in effect before the repeal. Requires the Secretary to terminate the Program upon the obligation of all such amounts and outlays to liquidate them. Requires the Secretary to publish on the HUD website a statement as to: (1) termination of the NSP. And (2) the availability of a Member of Congress and state, county, and local officials to provide assistance in mitigating the impacts of foreclosed properties on an individual's community. Requires the Comptroller General to study the economic impacts of: (1) round three NSP funding on states and communities that would occur if it were not rescinded and canceled but remained available, and (2) actual round one and round two NSP assistance on those states and communities.

To rescind the third round of funding for the Neighborhood Stabilization Program and to terminate the program.


SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Trade Normalization With Cuba Act''.

SEC. 2. FINDINGS.

    The Congress finds that--
            (1) with the end of the Cold War and the collapse of the
        Soviet Union, Cuba is no longer a threat to the United States
        or the Western Hemisphere;
            (2) the continuation of the embargo on trade between the
        United States and Cuba that was declared in February of 1962 is
        counterproductive, adding to the hardships of the Cuban people
        while making the United States the scapegoat for the failures
        of the communist system;
            (3) in the former Soviet Union, the Eastern bloc countries,
        China, and Vietnam, the United States is using economic,
        cultural, academic, and scientific engagement to support its
        policy of promoting democratic and human rights reforms; and
            (4) the United States can best support democratic change in
        Cuba by promoting trade and commerce, travel, communications,
        and cultural, academic, and scientific exchanges.

SEC. 3. REMOVAL OF PROVISIONS RESTRICTING TRADE AND OTHER RELATIONS
              WITH CUBA.

    (a) Authority for Embargo and Sugar Quota.--Section 620(a) of the
Foreign Assistance Act of 1961 (22 U.S.C. 2370(a)) is repealed.
    (b) Trading With the Enemy Act.--The authorities conferred upon the
President by section 5(b) of the Trading With the Enemy Act, which were
being exercised with respect to Cuba on July 1, 1977, as a result of a
national emergency declared by the President before that date, and are
being exercised on the day before the effective date of this Act, may
not be exercised on or after such effective date with respect to Cuba.
Any regulations in effect on the day before such effective date
pursuant to the exercise of such authorities, shall cease to be
effective on such date.
    (c) Exercise of Authorities Under Other Provisions of Law.--
            (1) Removal of prohibitions.--Any prohibition on exports to
        Cuba that is in effect on the day before the effective date of
        this Act under the Export Administration Act of 1979 shall
        cease to be effective on such effective date.
            (2) Authority for new restrictions.--The President may, on
        and after the effective date of this Act--
                    (A) impose export controls with respect to Cuba
                under section 5, 6(j), 6(l), or 6(m) of the Export
                Administration Act of 1979, and
                    (B) exercise the authorities he has under the
                International Emergency Economic Powers Act with
                respect to Cuba pursuant to a declaration of national
                emergency required by that Act that is made on account
                of an unusual and extraordinary threat, that did not
                exist before the enactment of this Act, to the national
                security, foreign policy, or economy of the United
                States.
    (d) Cuban Democracy Act.--The Cuban Democracy Act of 1992 (22
U.S.C. 6001 and following) is repealed.
    (e) Repeal of Cuban Liberty and Democratic Solidarity (LIBERTAD)
Act of 1996.--
            (1) Repeal.--The Cuban Liberty and Democratic Solidarity
        (LIBERTAD) Act of 1996 is repealed.
            (2) Conforming amendments.--(A) Section 498A of the Foreign
        Assistance Act of 1961 (22 U.S.C. 2295a) is amended--
                    (i) in subsection (a)(11) by striking ``and
                intelligence facilities, including the military and
                intelligence facilities at Lourdes and Cienfuegos,''
                and inserting ``facilities,'';
                    (ii) in subsection (b)--
                            (I) in paragraph (4) by adding ``and''
                        after the semicolon;
                            (II) by striking paragraph (5); and
                            (III) by redesignating paragraph (6) as
                        paragraph (5); and
                    (iii) by striking subsection (d).
            (B) Section 498B(k) of the Foreign Assistance Act of 1961
        (22 U.S.C. 2295b(k)) is amended by striking paragraphs (3) and
        (4).
            (C) Section 1611 of title 28, United States Code, is
        amended by striking subsection (c).
            (D) Sections 514 and 515 of the International Claims
        Settlement Act of 1949 (22 U.S.C. 1643l and 1643m) are
        repealed.
    (f) Termination of Denial of Foreign Tax Credit With Respect to
Cuba.--Subparagraph (A) of section 901(j)(2) of the Internal Revenue
Code of 1986 (relating to denial of foreign tax credit, etc., with
respect to certain foreign countries) is amended by adding at the end
thereof the following new flush sentence:
                ``Notwithstanding the preceding sentence, this
                subsection shall not apply to Cuba after the date which
                is 60 days after the date of the enactment of this
                sentence.''.
    (g) Sugar Quota Prohibition Under Food Security Act of 1985.--
Section 902(c) of the Food Security Act of 1985 is repealed.

SEC. 4. TELECOMMUNICATIONS EQUIPMENT AND FACILITIES.

    Any common carrier within the meaning of section 3 of the
Communications Act of 1934 (47 U.S.C. 153) is authorized to install,
maintain, and repair telecommunications equipment and facilities in
Cuba, and otherwise provide telecommunications services between the
United States and Cuba. The authority of this section includes the
authority to upgrade facilities and equipment.

SEC. 5. TRAVEL.

    (a) In General.--Travel to and from Cuba by individuals who are
citizens or residents of the United States, and any transactions
ordinarily incident to such travel, may not be regulated or prohibited
if such travel would be lawful in the United States.
    (b) Transactions Incident to Travel.--Any transactions ordinarily
incident to travel which may not be regulated or prohibited under
subsection (a) include--
            (1) transactions ordinarily incident to travel or
        maintenance in Cuba; and
            (2) normal banking transactions involving foreign currency
        drafts, traveler's checks, or other negotiable instruments
        incident to such travel.

SEC. 6. DIRECT MAIL DELIVERY TO CUBA.

    The United States Postal Service shall take such actions as are
necessary to provide direct mail service to and from Cuba, including,
in the absence of common carrier service between the 2 countries, the
use of charter providers.

SEC. 7. NEGOTIATIONS WITH CUBA.

    (a) Negotiations.--The President should take all necessary steps to
conduct negotiations with the Government of Cuba--
            (1) for the purpose of settling claims of nationals of the
        United States against the Government of Cuba for the taking of
        property by such government; and
            (2) for the purpose of securing the protection of
        internationally recognized human rights.
    (b) Definitions.--In this section, the terms ``national of the
United States'' and ``property'' have the meanings given those terms in
section 502 of the International Claims Settlement Act of 1949 (22
U.S.C. 1643a).

SEC. 8. EFFECTIVE DATE.

    This Act shall take effect 60 days after the date of the enactment
of this Act.

Summary: Repeals: (1) the Cuban Democracy Act of 1992. (2) the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996. And (3) the sugar quota prohibition under the Food Security Act of 1985. Amends the Internal Revenue Code to declare the denial of foreign tax credit inapplicable to Cuba after enactment of this Act. Permits: (1) installation and maintenance of telecommunications equipment and facilities in Cuba, including telecommunications services between the United States and Cuba. And (2) travel to and from Cuba by United States citizens or residents. Requires the United States Postal Service to provide direct mail service to and from Cuba. Directs the President to negotiate with the Government of Cuba for the purpose of: (1) settling claims of US nationals for the taking of property by such government, and (2) securing the protection of internationally recognized human rights.

Trade Normalization With Cuba Act


SECTION 1. BASIC PROGRAM REQUIREMENTS.

    (a) Program Description.--Paragraph (2) of section 1011 of the
Elementary and Secondary Education Act is amended by inserting ``the
training of teachers, librarians, counselors, and other instructional
and pupil services personnel in gender-equitable education methods,
techniques, and practices; the evaluation of the degree of gender
equity in the programs and projects assisted under this chapter;''
after ``school year);''.
    (b) Innovative Projects.--Subsection (b) of section 1011 of the
Elementary and Secondary Education Act of 1965 is amended--
            (1) in paragraph (6), by striking ``and'' after the
        semicolon;
            (2) in paragraph 7, by striking the period and adding ``;
        and''; and
            (3) by adding at the end the following:
            ``(8) training of parents, teachers, and other
        instructional pupil services personnel regarding the impact of
        gender-role socialization on the educational needs of eligible
        children and the use of gender-equitable educational
        practices.''.

SEC. 2. SCHOOLWIDE PROJECTS.

    Subsection (b) of section 1015 of the Elementary and Secondary
Education Act of 1965 is amended--
            (1) in paragraph (1)--
                    (A) by redesignating subparagraphs (D) and (E) as
                (E) and (F), respectively; and
                    (B) by inserting after subparagraph (C) the
                following:
                    ``(D) describes the methods used to ensure gender-
                equitable instruction in programs supported under this
                part;''; and
            (2) in paragraph (4), by inserting ``including training in
        the impact of gender role socialization on learning and gender-
        equitable teaching practices'' after ``the plan''.

SEC. 3. PARENTAL INVOLVEMENT.

    Paragraph (3) of section 1016(a) of the Elementary and Secondary
Education Act of 1965 is amended by inserting ``, including training in
the impact of gender-role socialization on learning and on gender-
equitable teaching practices'' before the period.

SEC. 4. PROGRAM IMPROVEMENT.

    Subsection (b) of section 1021 of the Elementary and Secondary
Education Act of 1965 is amended--
            (1) by redesignating paragraph (2) as paragraph (3); and
            (2) by inserting after paragraph (1) the following:
            ``(2) A local educational agency that demonstrates a
        substantial difference in the participation or achievement of
        students by sex shall include a description of planned efforts
        to implement gender equity training for chapter 1 personnel;''.

SEC. 5. EVEN START USES OF FUNDS.

    Paragraph (4) of section 1054(b) of the Elementary and Secondary
Education Act of 1965 is amended by inserting ``, including training on
the impact of gender-role socialization on learning and gender-
equitable education practices'' after ``programs''.

SEC. 6. SECONDARY SCHOOL APPLICATIONS.

    Subsection (b) of section 1104 of the Elementary and Secondary
Education Act is amended--
            (1) by redesignating paragraphs (10), (11), and (12) as
        paragraphs (11), (12), and (13), respectively; and
            (2) by inserting after paragraph (9) the following:
            ``(10) describe the methods used to ensure gender-equitable
        instruction in the programs supported under this part;''.

SEC. 7. AWARD OF GRANTS.

    Subsection (a) of section 1105 of the Elementary and Secondary
Education Act of 1965 is amended--
            (1) in paragraph (3), by striking ``and'' after the
        semicolon;
            (2) in paragraph (4) by striking the period and adding ``;
        and''; and
            (3) by adding at the end the following:
            ``(5) demonstrate the greatest degree of effort to promote
        gender equity and to incorporate gender-equitable instruction
        into the program.''.

SEC. 8. LOCAL TARGETED ASSISTANCE PROGRAMS.

    Subsection (b) of section 1531 of the Elementary and Secondary
Education Act of 1965 is amended--
            (1) by redesignating paragraphs (6) and (7) as paragraphs
        (7) and (8), respectively; and
            (2) by inserting after paragraph (5) the following:
            ``(6) programs designed to promote gender equity in
        education by eliminating gender bias in instruction and
        educational materials, identifying and analyzing gender
        inequities in education, and implementing and evaluating
        educational policies and practices designed to achieve gender
        equity, including training in gender-equitable instruction for
        teachers and other educational personnel and community
        education programs to enhance the leadership and academic
        skills of girls and young women;''.

SEC. 9. ELEMENTARY AND SECONDARY EDUCATION PROGRAMS.

    Paragraph (1) of section 2006(b) of the Elementary and Secondary
Education Act of 1965 is amended--
            (1) in subparagraph (D), by striking ``or'' after the
        semicolon;
            (2) in subparagraph (E), by striking the period and adding
        ``; and''; and
            (3) by adding at the end the following:
                    ``(F) preservice, inservice, and retraining of
                teachers and other school personnel in gender-equitable
                instruction in mathematics and science.''.

SEC. 10. NATIONAL PROGRAMS.

    Paragraph (3) of section 2012(e) of the Elementary and Secondary
Education Act of 1965 is amended--
            (1) in subparagraph (D), by striking ``and'' after the
        semicolon;
            (2) in subparagraph (E), by striking the period and adding
        ``; and''; and
            (3) by adding at the end the following:
                    ``(F) demonstrate a commitment to achieving gender
                equity both in access to the computer-use program and
                in the teaching practices used in the program.''.

SEC. 11. WOMEN'S EDUCATIONAL EQUITY.

    (a) Application; Participation.--Paragraph (1) of section 4002(a)
of the Elementary and Secondary Education Act of 1965 is amended--
            (1) in subparagraph (B)--
                    (A) by inserting ``the development and
                implementation of'' before ``model''; and
                    (B) by inserting ``gender and'' after ``to
                provide''.
            (2) in subparagraph (D);
                    (A) by inserting ``the development and
                implementation of'' before ``guidance''; and
                    (B) by inserting ``career education programs and''
                after ``including''.

SEC. 12. GIFTED AND TALENTED CHILDREN.

    Subsection (b) of section 4104 of the Elementary and Secondary
Education Act of 1965 is amended--
            (1) by redesignating paragraphs (4) and (5) as (5) and (6),
        respectively; and
            (2) by inserting after paragraph (3) the following:
            ``(4) training of personnel involved in talented and gifted
        programs with respect to the impact of gender-role
        socialization on the educational needs of gifted and talented
        children and in gender-equitable education methods, techniques
        and practices;''.

SEC. 13. SECRETARY'S FUND FOR INNOVATION IN EDUCATION.

    Subsection (b) of section 4604 of the Elementary and Secondary
Education Act of 1965 is amended--
            (1) by redesignating paragraphs (2) and (3) as (3) and (4),
        respectively; and
            (2) by inserting after paragraph (1) the following:
            ``(2) training programs for teachers and instructional
        personnel on the impact of gender-role socialization on
        computer learning styles and gender-equitable methods,
        techniques, and practices for computer-based instruction;''.

Summary: Amends the Elementary and Secondary Education Act of 1965 to establish gender equity requirements and training programs for teachers and other educational personnel with respect to: (1) basic program requirements , innovative projects, schoolwide projects, parental involvement, and program improvement, (2) Even Start progam uses of funds, (3) secondary school programs applications and award of grants, (4) local targeted assistance programs. (5) Eisenhower Mathematics and Science program school teacher training and national programs, (6) Women's Educational Equity personnel training and career education programs, (7) gifted and talented students personnel training. And (8) computer-based instruction personnel training under the Secretary's fund for innovation in education.

To amend the Elementary and Secondary Education Act of 1965 to establish gender equity teacher training programs to ensure gender equity in education programs, and for other purposes.