Input:
SECTION 1. RESTORATION OF TANF EMERGENCY CONTINGENCY FUND.

    (a) In General.--Section 403 of the Social Security Act (42 U.S.C.
603) is amended by adding at the end the following:
    ``(c) Emergency Fund.--
            ``(1) Establishment.--There is established in the Treasury
        of the United States a fund which shall be known as the
        `Emergency Contingency Fund for State Temporary Assistance for
        Needy Families Programs' (in this subsection referred to as the
        `Emergency Fund').
            ``(2) Deposits into fund.--
                    ``(A) In general.--Out of any money in the Treasury
                of the United States not otherwise appropriated, there
                are appropriated for fiscal year 2012, $10,000,000,000
                for payment to the Emergency Fund.
                    ``(B) Availability and use of funds.--The amounts
                appropriated to the Emergency Fund under subparagraph
                (A) shall remain available through fiscal year 2013 and
                shall be used to make grants to States in each of
                fiscal years 2012 and 2013 in accordance with the
                requirements of paragraph (3).
                    ``(C) Limitation.--In no case may the Secretary
                make a grant from the Emergency Fund for a fiscal year
                after fiscal year 2013.
            ``(3) Grants.--
                    ``(A) Grant related to caseload increases.--
                            ``(i) In general.--For each calendar
                        quarter in fiscal year 2012 or 2013, the
                        Secretary shall make a grant from the Emergency
                        Fund to each State that--
                                    ``(I) requests a grant under this
                                subparagraph for the quarter; and
                                    ``(II) meets the requirement of
                                clause (ii) for the quarter.
                            ``(ii) Caseload increase requirement.--A
                        State meets the requirement of this clause for
                        a quarter if the average monthly assistance
                        caseload of the State for the quarter exceeds
                        the average monthly assistance caseload of the
                        State for the corresponding quarter in the
                        emergency fund base year of the State.
                            ``(iii) Amount of grant.--Subject to
                        paragraph (5), the amount of the grant to be
                        made to a State under this subparagraph for a
                        quarter shall be an amount equal to 80 percent
                        of the amount (if any) by which the total
                        expenditures of the State for basic assistance
                        (as defined by the Secretary) in the quarter,
                        whether under the State program funded under
                        this part or as qualified State expenditures,
                        exceeds the total expenditures of the State for
                        such assistance for the corresponding quarter
                        in the emergency fund base year of the State.
                    ``(B) Grant related to increased expenditures for
                non-recurrent short term benefits.--
                            ``(i) In general.--For each calendar
                        quarter in fiscal year 2012 or 2013, the
                        Secretary shall make a grant from the Emergency
                        Fund to each State that--
                                    ``(I) requests a grant under this
                                subparagraph for the quarter; and
                                    ``(II) meets the requirement of
                                clause (ii) for the quarter.
                            ``(ii) Non-recurrent short term expenditure
                        requirement.--A State meets the requirement of
                        this clause for a quarter if the total
                        expenditures of the State for non-recurrent
                        short term benefits in the quarter, whether
                        under the State program funded under this part
                        or as qualified State expenditures, exceeds the
                        total expenditures of the State for non-
                        recurrent short term benefits in the
                        corresponding quarter in the emergency fund
                        base year of the State.
                            ``(iii) Amount of grant.--Subject to
                        paragraph (5), the amount of the grant to be
                        made to a State under this subparagraph for a
                        quarter shall be an amount equal to 80 percent
                        of the excess described in clause (ii).
                    ``(C) Grant related to increased expenditures for
                subsidized employment.--
                            ``(i) In general.--For each calendar
                        quarter in fiscal year 2012 or 2013, the
                        Secretary shall make a grant from the Emergency
                        Fund to each State that--
                                    ``(I) requests a grant under this
                                subparagraph for the quarter; and
                                    ``(II) meets the requirement of
                                clause (ii) for the quarter.
                            ``(ii) Subsidized employment expenditure
                        requirement.--A State meets the requirement of
                        this clause for a quarter if the total
                        expenditures of the State for subsidized
                        employment in the quarter, whether under the
                        State program funded under this part or as
                        qualified State expenditures, exceeds the total
                        such expenditures of the State in the
                        corresponding quarter in the emergency fund
                        base year of the State.
                            ``(iii) Amount of grant.--Subject to
                        paragraph (5), the amount of the grant to be
                        made to a State under this subparagraph for a
                        quarter shall be an amount equal to 80 percent
                        of the excess described in clause (ii).
            ``(4) Authority to make necessary adjustments to data and
        collect needed data.--In determining the size of the caseload
        of a State and the expenditures of a State for basic
        assistance, non-recurrent short term benefits, and subsidized
        employment, during any period for which the State requests
        funds under this subsection, and during the emergency fund base
        year of the State, the Secretary may make appropriate
        adjustments to the data, on a State-by-State basis, to ensure
        that the data are comparable with respect to the groups of
        families served and the types of aid provided. The Secretary
        may develop a mechanism for collecting expenditure data,
        including procedures which allow States to make reasonable
        estimates, and may set deadlines for making revisions to the
        data.
            ``(5) Limitation.--The total amount payable to a single
        State under subsection (b) and this subsection for fiscal years
        2012 and 2013 combined shall not exceed 50 percent of the
        annual State family assistance grant.
            ``(6) Limitations on use of funds.--A State to which an
        amount is paid under this subsection may use the amount only as
        authorized by section 404.
            ``(7) Timing of implementation.--The Secretary shall
        implement this subsection as quickly as reasonably possible,
        pursuant to appropriate guidance to States.
            ``(8) Application to indian tribes.--This subsection shall
        apply to an Indian tribe with an approved tribal family
        assistance plan under section 412 in the same manner as this
        subsection applies to a State.
            ``(9) Definitions.--In this subsection:
                    ``(A) Average monthly assistance caseload
                defined.--The term `average monthly assistance
                caseload' means, with respect to a State and a quarter,
                the number of families receiving assistance during the
                quarter under the State program funded under this part
                or as qualified State expenditures, subject to
                adjustment under paragraph (4).
                    ``(B) Emergency fund base year.--
                            ``(i) In general.--The term `emergency fund
                        base year' means, with respect to a State and a
                        category described in clause (ii), whichever of
                        fiscal year 2009 or 2010 is the fiscal year in
                        which the amount described by the category with
                        respect to the State is the lesser.
                            ``(ii) Categories described.--The
                        categories described in this clause are the
                        following:
                                    ``(I) The average monthly
                                assistance caseload of the State.
                                    ``(II) The total expenditures of
                                the State for non-recurrent short term
                                benefits, whether under the State
                                program funded under this part or as
                                qualified State expenditures.
                                    ``(III) The total expenditures of
                                the State for subsidized employment,
                                whether under the State program funded
                                under this part or as qualified State
                                expenditures.
                    ``(C) Qualified state expenditures.--The term
                `qualified State expenditures' has the meaning given
                the term in section 409(a)(7).''.
    (b) Modification of Caseload Reduction Credit.--Section
407(b)(3)(A)(i) of such Act (42 U.S.C. 607(b)(3)(A)(i)) is amended by
inserting ``(or if the immediately preceding fiscal year is fiscal year
2011 or 2012, then, at State option, during the emergency fund base
year of the State with respect to the average monthly assistance
caseload of the State (within the meaning of section 403(c)(9)), except
that, if a State elects such option for fiscal year 2011, the emergency
fund base year of the State with respect to such caseload shall be
fiscal year 2009))'' before ``under the State''.
    (c) Disregard From Limitation on Total Payments to Territories.--
Section 1108(a)(2) of such Act (42 U.S.C. 1308(a)(2)) is amended by
inserting ``403(c)(3),'' after ``403(a)(5),''.

Output: Amends title IV (Temporary Assistance for Needy Families) (TANF) of the Social Security Act to reestablish for FY2012-FY2013 the Emergency Contingency Fund for State Temporary Assistance for Needy Families Programs for the purpose of grants to states by the Secretary of the Treasury related to: (1) increases in TANF caseloads, (2) increased expenditures for non-recurrent short term benefits, and (3) increased expenditures for subsidized employment. Modifies for FY2011-FY2012 the formula for the pro rata reduction credit in the calculation of the minimum participation rate of all families of a state receiving TANF assistance for any reduction in such rate owing to caseload reductions not required by federal law and not resulting from changes in state eligibility criteria.


Input:
SECTION 1. LIQUIDATION OR RELIQUIDATION OF CERTAIN ENTRIES OF TOP-OF-
              THE-STOVE STAINLESS STEEL COOKING WARE FROM THE REPUBLIC
              OF KOREA ENTERED BETWEEN JANUARY 1, 1999 AND JANUARY 22,
              2003.

    (a) In General.--Notwithstanding section 514 of the Tariff Act of
1930 (19 U.S.C. 1514) or any other provision of law and subject to the
provisions of subsection (b), the U.S. Customs and Border Protection
shall, not later than 90 days after the receipt of the request
described in subsection (b), liquidate or reliquidate each entry
described in subsection (d) at the new rate of duty described in that
subsection, to the extent the former rate of duty described in that
subsection was applied to such merchandise on the date of entry.
    (b) Requests.--Liquidation or reliquidation may be made under
subsection (a) with respect to an entry described in subsection (d)
only if a request therefore is filed with the U.S. Customs and Border
Protection not later than 90 days after the date of the enactment of
this Act.
    (c) Payment of Amounts Owed.--Any amounts owed by the United States
pursuant to the liquidation or reliquidation of any entry under
subsection (a) shall be paid not later than 90 days after the date of
such liquidation or reliquidation.
    (d) Entries Described.--The entries referred to in subsection (a)
are as follows:
            (1) Entry year 1999.--The following entries shall, to the
        extent an antidumping rate of duty of 8.10 percent or 7.39
        percent was formerly applied, be reliquidated at an antidumping
        rate of duty of 1.67 percent:

Entry number...........................  Entry date
  336 2596739-5........................  2/4/1999
  336 2596857-5........................  2/9/1999
  336 2596897-1........................  2/9/1999
  336 2596977-1........................  2/11/1999
  336 2597059-7........................  2/11/1999
  336 2597136-3........................  2/17/1999
  336 2597190-0........................  2/17/1999
  336 2597293-2........................  3/1/1999
  336 2597320-3........................  3/1/1999
  336 2597368-2........................  3/9/1999
  336 2597491-2........................  3/18/1999
  336 2597536-4........................  3/18/1999
  336 2597601-6........................  3/18/1999
  336 2597793-1........................  3/19/1999
  336 2597808-7........................  3/25/1999
  336 2597636-2........................  3/25/1999
  336 2597671-9........................  3/31/1999
  336 2597901-0........................  3/31/1999
  336 2597966-3........................  4/7/1999
  336 2598053-9........................  4/7/1999
  336 2598123-0........................  4/14/1999
  336 2598124-8........................  4/23/1999
  336 2598238-6........................  4/23/1999
  336 2598511-6........................  5/3/1999
  336 2598510-8........................  5/4/1999
  336 2598268-3........................  5/11/1999
  336 2598269-1........................  5/11/1999
  336 2598600-7........................  5/12/1999
  336 2598601-5........................  5/12/1999
  336 2598739-3........................  5/18/1999
  336 2598740-1........................  5/18/1999
  336 2598755-9........................  5/25/1999
  336 2598756-7........................  5/25/1999
  336 2598969-6........................  6/4/1999
  336 2598970-4........................  6/4/1999
  336 2599136-1........................  6/4/1999
  336 2599137-9........................  6/4/1999
  336 2599179-1........................  6/11/1999
  336 2599725-1........................  6/21/1999
  336 2599726-9........................  6/21/1999
  336 2599484-5........................  6/30/1999
  336 2599485-2........................  6/30/1999
  336 2599651-9........................  7/6/1999
  336 2599652-7........................  7/6/1999
  336 2599787-1........................  7/14/1999
  336 2599788-9........................  7/14/1999
  336 2599916-6........................  7/19/1999
  336 2600049-3........................  7/30/1999
  336 2600050-1........................  7/30/1999
  336 2600201-0........................  8/5/1999
  336 2600202-8........................  8/5/1999
  336 2600361-2........................  8/12/1999
  336 2600362-0........................  8/12/1999
  336 2600484-2........................  8/18/1999
  336 2600525-2........................  8/18/1999
  336 2600663-1........................  8/31/1999
  336 2600664-9........................  8/31/1999
  336 2600787-8........................  9/3/1999
  336 2600788-6........................  9/3/1999
  336 2600996-5........................  9/23/1999
  336 2600997-3........................  9/23/1999
  336 2601187-0........................  9/29/1999
  336 2601188-8........................  9/29/1999
  336 2601189-6........................  10/1/1999
  336 2601190-4........................  10/1/1999
  336 2601431-2........................  10/5/1999
  336 2601432-0........................  10/5/1999
  336 2601519-4........................  10/8/1999
  336 2601520-2........................  10/8/1999
  336 2601529-3........................  10/12/1999
  336 2601530-1........................  10/12/1999
  336 2601655-6........................  10/19/1999
  336 2601656-4........................  10/19/1999
  336 2601797-6........................  10/22/1999
  336 2601798-4........................  10/22/1999
  336 2601800-8........................  11/3/1999
  336 2601799-2........................  11/4/1999
  336 2601950-1........................  11/10/1999
  336 2601951-9........................  11/10/1999
  336 2602201-8........................  11/16/1999
  336 2602202-6........................  11/16/1999
  336 2602319-8........................  11/22/1999
  336 2602320-6........................  11/22/1999
  336 2602404-8........................  12/1/1999
  336 2602405-5........................  12/1/1999
  336 2602633-2........................  12/6/1999
  336 2602632-4........................  12/8/1999
  336 2602772-8........................  12/15/1999
  336 2602773-6........................  12/15/1999
  336 2602845-2........................  12/22/1999
  336 2602846-0........................  12/22/1999
  336 2602979-9........................  12/29/1999
  336 2602980-7........................  12/29/1999

            (2) Entry year 2000.--The following entries shall, to the
        extent an antidumping rate of 7.39 percent was formerly
        applied, be reliquidated at an antidumping rate of duty of 1.26
        percent:

Entry number                             Entry date
  336 2603169-6........................  1/3/2000
  336 2607879-6........................  1/15/2000
  739 6029431-9........................  1/31/2000
  739 6029704-9........................  2/8/2000
  739 6029699-1........................  2/10/2000
  739 6029930-0........................  2/16/2000
  008 0635322-3........................  2/21/2000
  739 6030272-4........................  2/24/2000
  336 2604255-2........................  3/3/2000
  739 6030562-8........................  3/7/2000
  739 6030738-4........................  3/8/2000
  336 2604432-7........................  3/10/2000
  739 6031041-2........................  3/15/2000
  739 6031221-0........................  3/21/2000
  739 6031220-2........................  3/21/2000
  739 6031198-0........................  3/22/2000
  336 2604516-7........................  3/27/2000
  008 0635935-2........................  3/28/2000
  739 6031554-4........................  3/29/2000
  739 6031329-1........................  3/30/2000
  739 6031484-4........................  4/3/2000
  336 2604723-9........................  4/6/2000
  336 2604895-5........................  4/11/2000
  336 2605088-6........................  4/14/2000
  739 6032412-4........................  4/23/2000
  008 0636281-0........................  4/23/2000
  739 6031967-8........................  4/24/2000
  739 6032414-0........................  4/24/2000
  739 6032703-6........................  5/2/2000
  739 6032745-7........................  5/2/2000
  336 2605234-6........................  5/5/2000
  739 6032999-0........................  5/9/2000
  739 6033467-7........................  5/23/2000
  739 6033484-2........................  5/23/2000
  336 2605320-3........................  6/15/2000
  336 2605636-2........................  6/16/2000
  739 6034538-4........................  6/16/2000
  336 2605656-0........................  6/19/2000
  336 2605691-7........................  6/20/2000
  336 2606008-3........................  7/6/2000
  336 2606173-5........................  7/10/2000
  739 6035525-0........................  7/13/2000
  739 6035507-8........................  7/13/2000
  336 2606449-9........................  7/19/2000
  739 6035801-5........................  7/20/2000
  739 6035707-4........................  7/20/2000
  336 2606538-9........................  7/26/2000
  336 2606646-0........................  8/3/2000
  739 6036406-2........................  8/3/2000
  739 6036408-8........................  8/3/2000
  739 6036384-1........................  8/4/2000
  336 2606921-7........................  8/9/2000
  336 2607439-9........................  8/17/2000
  336 2607447-2........................  8/18/2000
  336 2607838-2........................  8/22/2000
  739 6037536-5........................  9/12/2000
  739 6038089-4........................  9/19/2000
  739 6038497-9........................  10/2/2000
  739 6038899-6........................  10/11/2000
  739 6039461-4........................  10/25/2000
  739 6039311-1........................  10/30/2000
  336 2608716-9........................  11/3/2000
  336 2608719-3........................  11/3/2000
  739 6039841-7........................  11/7/2000
  739 6039718-7........................  11/7/2000
  336 2609709-3........................  11/8/2000
  336 2608722-7........................  11/8/2000
  336 9412013-2........................  11/10/2000
  336 2609529-5........................  11/16/2000
  739 6040100-5........................  11/16/2000
  336 9412016-5........................  11/17/2000
  336 9412019-9........................  11/21/2000
  739 6040227-6........................  11/25/2000
  739 6039607-2........................  11/28/2000
  336 9412334-2........................  11/30/2000
  336 9412337-5........................  11/30/2000
  739 6040875-2........................  12/9/2000
  739 6040981-8........................  12/12/2000
  336 9412631-1........................  12/13/2000
  739 6041062-6........................  12/17/2000
  336 9412634-5........................  12/19/2000
  739 6041145-9........................  12/20/2000
  336 9412637-8........................  12/21/2000
  336 9412899-4........................  12/26/2000
  336 9412965-3........................  12/28/2000
  739 6041516-1........................  12/30/2000

            (3) Entry year 2001.--The following entries shall, to the
        extent an antidumping rate of duty of 7.39 percent or 1.67
        percent was formerly applied, be reliquidated at an antidumping
        rate of duty of 0.90 percent:

Entry number...........................  Entry date
  739 6041721-7........................  1/3/2001
  336 9412562-8........................  1/5/2001
  336 9413082-6........................  1/5/2001
  008 0641141-9........................  1/5/2001
  008 0641202-9........................  1/11/2001
  336 9413358-0........................  1/12/2001
  336 2608124-6........................  1/15/2001
  336 9413361-4........................  1/15/2001
  336 9412279-9........................  1/16/2001
  739 6042228-2........................  1/18/2001
  739 6042223-3........................  1/18/2001
  336 9413426-5........................  1/19/2001
  336 9413444-8........................  1/19/2001
  739 6042405-6........................  1/23/2001
  336 9413518-9........................  1/25/2001
  739 6042480-9........................  1/26/2001
  336 9413814-2........................  2/5/2001
  739 6042833-9........................  2/5/2001
  739 6042954-3........................  2/7/2001
  336 9413894-4........................  2/8/2001
  739 6042931-1........................  2/10/2001
  336 9414162-5........................  2/23/2001
  739 6043410-5........................  2/24/2001
  336 9414223-5........................  3/7/2001
  739 6043950-0........................  3/7/2001
  336 9414325-8........................  3/20/2001
  336 9414331-6........................  3/28/2001
  336 9414333-2........................  3/29/2001
  336 9415452-9........................  4/2/2001
  336 9415449-5........................  4/4/2001
  336 9415454-5........................  4/25/2001
  336 9415456-0........................  4/25/2001
  739 6047935-7........................  6/12/2001
  739 6047856-5........................  6/14/2001
  739 6047934-0........................  6/14/2001
  739 6048091-8........................  6/21/2001
  336 9567582-9........................  6/25/2001
  336 9415457-8........................  7/6/2001
  739 6048879-6........................  7/9/2001
  739 6048948-9........................  7/10/2001
  336 9568422-7........................  7/13/2001
  739 6049096-6........................  7/16/2001
  336 9568425-0........................  7/19/2001
  739 6049296-2........................  7/20/2001
  739 6049301-0........................  7/20/2001
  739 6049300-2........................  7/20/2001
  739 6049299-6........................  7/21/2001
  739 6049553-6........................  7/25/2001
  336 9568427-6........................  8/1/2001
  739 6049985-0........................  8/8/2001
  739 6050161-4........................  8/14/2001
  739 6050233-1........................  8/14/2001
  336 9568429-2........................  8/16/2001
  336 9568431-8........................  8/27/2001
  739 6050759-5........................  8/29/2001
  739 6050761-1........................  8/29/2001
  739 6050762-9........................  8/29/2001
  739 6050789-2........................  8/29/2001
  336 9568435-9........................  9/5/2001
  220 1012341-6........................  9/19/2001
  220 1012344-0........................  9/19/2001
  220 1012345-7........................  9/19/2001
  336 9568433-4........................  9/20/2001
  336 9568437-5........................  9/21/2001
  336 9568439-1........................  9/21/2001
  739 6051534-1........................  9/21/2001
  739 6051498-9........................  9/24/2001
  336 9568441-7........................  10/1/2001
  336 9568443-3........................  10/2/2001
  739 6052003-6........................  10/5/2001
  336 9568445-8........................  10/8/2001
  336 9568449-0........................  10/11/2001
  739 6052333-7........................  10/11/2001
  336 9568447-4........................  10/17/2001
  739 6052539-9........................  10/17/2001
  739 6052581-1........................  10/18/2001
  739 6052580-3........................  10/19/2001
  739 6052582-9........................  10/19/2001
  739 6052588-6........................  10/20/2001
  336 9568451-6........................  11/5/2001
  739 6053140-5........................  11/7/2001
  336 9568453-2........................  11/12/2001
  739 6053218-9........................  11/12/2001
  739 6053346-8........................  11/12/2001
  739 6053347-6........................  11/12/2001
  336 9568455-7........................  11/14/2001
  739 6053420-1........................  11/14/2001
  336 9568457-3........................  11/23/2001
  336 9568459-9........................  11/30/2001
  336 9568464-9........................  12/5/2001
  739 6054285-7........................  12/7/2001
  739 6054242-8........................  12/11/2001
  739 6054279-0........................  12/11/2001
  739 6054290-7........................  12/11/2001
  336 9573250-5........................  12/17/2001
  739 6054492-9........................  12/18/2001
  739 6054501-7........................  12/18/2001
  336 9573252-1........................  12/26/2001

            (4) Entry year 2002.--The following entries shall, to the
        extent an antidumping rate of duty of 1.67 percent or 1.26
        percent was formerly applied, be reliquidated at an antidumping
        rate of duty of 0.90 percent:

Entry number...........................  Entry date
  739 6055104-9........................  1/2/2002
  336 9573254-7........................  1/3/2002
  336 2605850-9........................  1/7/2002
  336 9903585-5........................  1/9/2002
  336 9573496-4........................  1/11/2002
  739 6055356-5........................  1/11/2002
  739 6055488-6........................  1/14/2002
  336 9903640-8........................  1/15/2002
  739 6055586-7........................  1/15/2002
  336 9903642-4........................  1/18/2002
  336 9573258-8........................  1/18/2002
  739 6055963-8........................  1/25/2002
  739 6055954-7........................  1/29/2002
  739 6056226-9........................  2/6/2002
  739 6056338-2........................  2/6/2002
  739 6056433-1........................  2/12/2002
  739 6056623-7........................  2/19/2002
  739 6056968-6........................  2/28/2002
  739 6056967-8........................  3/2/2002
  739 6057410-8........................  3/12/2002
  739 6057409-0........................  3/15/2002
  739 6057973-5........................  3/29/2002
  739 6058682-1........................  4/18/2002
  739 6058950-2........................  4/27/2002
  739 6058971-8........................  4/27/2002
  JG6 8804702-0........................  5/9/2002
  739 6059602-8........................  5/15/2002
  739 6059573-1........................  5/15/2002
  739 6059603-6........................  5/15/2002
  JG6 8804788-9........................  5/16/2002
  JG6 8804733-5........................  5/16/2002
  739 6059792-7........................  5/22/2002
  JG6 8804897-8........................  5/25/2002
  JG6 8805011-5........................  5/30/2002
  JG6 8804965-3........................  6/3/2002
  JG6 8804917-4........................  6/3/2002
  739 6060475-6........................  6/10/2002
  739 6060821-1........................  6/14/2002
  739 6060772-6........................  6/18/2002
  739 6061068-8........................   6/22/2002
  739 6061103-3........................  6/23/2002
  739 6061069-6........................  6/23/2002
  739 6061895-4........................  7/10/2002
  739 6061776-6........................  7/12/2002
  739 6062689-0........................  7/28/2002
  739 6063735-0........................  8/20/2002
  739 6063709-5........................  8/20/2002
  739 6063710-3........................  8/20/2002
  739 6064286-3........................  9/3/2002
  739 6065264-9........................  9/22/2002
  739 6065240-9........................  9/22/2002
  739 6065872-9........................  10/6/2002

            (5) Entry year 2003.--The following entries shall, to the
        extent an antidumping rate of duty of 1.26 percent was formerly
        applied, be reliquidated at an antidumping rate of duty of 0.90
        percent:

Entry number...........................  Entry date
  739 6069860-0........................  1/5/2003
  739 6070029-9........................  1/12/2003
  739 6070500-9........................  1/22/2003
  739 6070760-9........................  1/26/2003
  739 6070759-1........................  1/26/2003
  739 6070914-2........................  1/29/2003

Output: Directs U.S. Customs and Border Protection to liquidate or reliquidate certain entries of top-of-the-stove stainless steel cooking ware from the Republic of Korea.


Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Foreign Investment Transparency and
Security Act of 2006''.

SEC. 2. LIMITS ON FOREIGN CONTROL OF INVESTMENTS IN CERTAIN UNITED
              STATES CRITICAL INFRASTRUCTURE.

    (a) In General.--Title II of the Homeland Security Act of 2002 (6
U.S.C. 201 et seq.) is amended by adding at the end the following:

   ``Subtitle E--Limits on Foreign Control of Investments in Certain
                 United States Critical Infrastructure

``SEC. 241. DEFINITIONS.

    ``As used in this subtitle--
            ``(1) the term `foreign government controlled entity' means
        any entity in which a foreign government owns a majority
        interest, or otherwise controls or manages the entity; and
            ``(2) the term `general business corporation' means any
        entity that qualifies for treatment for Federal taxation
        purposes under subchapter C or subchapter S of the Internal
        Revenue Code of 1986, established or organized under the laws
        of any State.

``SEC. 242. LIMITATION ON FOREIGN INVESTMENTS.

    ``(a) In General.--A foreign government controlled entity may
acquire, own, or otherwise control or manage any critical
infrastructure of the United States only through the establishment or
operation of a foreign owned general business corporation that meets
the requirements of subsection (b).
    ``(b) Requirements.--For purposes of this section, a general
business corporation shall--
            ``(1) have a board of directors, the majority of which is
        comprised of United States citizens;
            ``(2) have a chief security officer who is a United States
        citizen, responsible for safety and security issues related to
        the critical infrastructure; and
            ``(3) maintain all records related to operations,
        personnel, and security of the United States general business
        corporation in the United States.
    ``(c) Rule of Construction.--Nothing in this subtitle may be
construed to restrict or otherwise alter the authority of the President
or the Committee on Foreign Investment in the United States (or any
successor thereto) as the designee of the President, under section 721
of the Defense Production Act of 1950.

``SEC. 243. REGULATIONS REQUIRED.

    ``Not later than 6 months after the date of enactment of this
subtitle, the Secretary, in coordination with the Secretary of the
Treasury, shall promulgate final regulations to carry out this
subtitle.

``SEC. 244. EFFECTIVE DATE.

    ``(a) In General.--Section 242 shall apply beginning on the date
that is 6 months after the date of enactment of this subtitle.
    ``(b) Existing Entities.--A foreign government controlled entity
that owns or otherwise controls or manages any critical infrastructure
of the United States on the effective date of this subtitle shall
comply with the requirements of this subtitle not later than 180 days
after that effective date.''.
    (b) Conforming Amendment.--The table of contents under section 1(b)
of the Homeland Security Act of 2002 (6 U.S.C. 101) is amended by
inserting after the item relating to section 237 the following:

   ``Subtitle E--Limits on Foreign Control of Investments in Certain
                 United States Critical Infrastructure

        ``Sec. 241. Definitions.
        ``Sec. 242. Limitation on foreign investments.
        ``Sec. 243. Regulations required.
        ``Sec. 244. Effective date.''.

SEC. 3. MARITIME SECURITY.

    (a) Findings.--Congress finds that--
            (1) existing scanning processes for maritime containers are
        insufficient;
            (2) it should be the goal of the United States to scan 100
        percent of inbound maritime containers; and
            (3) the maritime container inspection system employed in
        Hong Kong shows promise in enhancing the maritime security
        capabilities of the United States.
    (b) Amendments to Homeland Security Act.--
            (1) In general.--Subtitle A of title IV of the Homeland
        Security Act (6 U.S.C. 201 et seq.) is amended by adding at the
        end the following:

``SEC. 404. REPORT ON SCANNING OF MARITIME CONTAINERS.

    ``(a) Report to Congress.--Not later than 90 days after the date of
enactment of this section, the Secretary shall submit a report to
Congress detailing the processes and policies for implementation of a
scanning system for 100 percent of the inbound maritime containers
described in subsection (a).
    ``(b) Definition of Container.--The term `container' has the
meaning given the term in the International Convention for Safe
Containers, with annexes, done at Geneva December 2, 1972 (29 UST
3707).''.
            (2) Conforming amendment.--The table of contents under
        section 1(b) of the Homeland Security Act of 2002 (6 U.S.C.
        101) is amended by inserting after the item relating to section
        403 the following:

        ``Sec. 404. Report on scanning of maritime containers.''.

Output:
Foreign Investment Transparency and Security Act of 2006 - Amends the Homeland Security Act of 2002 to provide that a foreign government controlled entity may acquire, own, or otherwise control or manage any critical infrastructure of the United States only through the establishment or operation of a foreign owned general business corporation that meets specified requirements.

Requires a majority of the board of directors of such a corporation and its chief security officer to be U.S. citizens.

Directs the Secretary of Homeland Security to report to Congress on the processes and policies for implementation of a scanning system for 100% of all inbound maritime containers.


Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Authorizing the Regulation of Swaps
Act''.

SEC. 2. REPEAL OF PROHIBITION ON CERTAIN REGULATION OF SWAP AGREEMENTS.

    The following provisions of law are repealed:
            (1) Sections 206A, 206B, and 206C of the Gramm-Leach-Bliley
        Act (15 U.S.C. 78c note).
            (2) Section 2A of the Securities Act of 1933 (15 U.S.C.
        77b-1).
            (3) Section 17(d) of the Securities Act of 1933 (15 U.S.C.
        77q(d)).
            (4) Section 3A of the Securities Exchange Act of 1934 (15
        U.S.C. 78c-1).
            (5) Section 9(i) of the Securities Exchange Act of 1934 (15
        U.S.C. 78i(i)).
            (6) Section 15(i) of the Securities Exchange Act of 1934
        (15 U.S.C. 78o(i)), as added by section 303(f) of the Commodity
        Futures Modernization Act of 2000 (Public Law 106-554; 114
        Stat. 2763A-455).
            (7) Section 16(g) of the Securities Exchange Act of 1934
        (15 U.S.C. 78p(g)).
            (8) Section 20(f) of the Securities Exchange Act of 1934
        (15 U.S.C. 78t(f)).
            (9) Section 21A(g) of the Securities Exchange Act of 1934
        (15 U.S.C. 78u-1(g)).
            (10) Sections 301(b) and 304 of the Commodity Futures
        Modernization Act of 2000 (Public Law 106-554; 114 Stat. 2763A-
        451, 2763A-457).
            (11) Sections 403, 404, and 407 of the Legal Certainty for
        Bank Products Act of 2000 (7 U.S.C. 27a, 27b, 27e).
            (12) Subsection (d), subsection (g), and paragraphs (1) and
        (2) of subsection (h) of section 2 of the Commodity Exchange
        Act (7 U.S.C. 2).
            (13) Section 5d of the Commodity Exchange Act (7 U.S.C. 7a-
        3).

SEC. 3. AUTHORIZATION OF REGULATION AND OVERSIGHT REGARDING SWAP
              AGREEMENTS.

    (a) Authorization of Regulation and Oversight.--Notwithstanding any
other provision of law, and subject to subsections (b) through (d),
each Federal financial regulator may--
            (1) exercise oversight over--
                    (A) any swap agreement that is entered into,
                purchased, or sold (or as to which the transaction,
                purchase, or sale is effected) by any financial
                institution, entity, or person (for its own account or
                for the account of others) that is subject to the
                jurisdiction of the Federal financial regulator; and
                    (B) any swap agreement that is subject to the
                jurisdiction of the Federal financial regulator; and
            (2) promulgate, interpret, and enforce regulations, issue
        orders of general applicability, and impose disclosure,
        reporting, or recordkeeping requirements, procedures, or
        standards, relating to any swap agreement--
                    (A) that is entered into, purchased, or sold (or as
                to which the transaction, purchase, or sale is
                effected) by any financial institution, entity, or
                person (for its own account or for the account of
                others) that is subject to the jurisdiction of the
                Federal financial regulator; and
                    (B) that is subject to the jurisdiction of the
                Federal financial regulator.
    (b) Exchanges and Trading Facilities.--In carrying out subsection
(a)--
            (1) the Securities and Exchange Commission (and not any
        other Federal financial regulator) shall exercise oversight and
        carry out regulatory or oversight activity over--
                    (A) any exchange or clearing agency (as those terms
                are defined in section 3(a) of the Securities Exchange
                Act of 1934 (15 U.S.C. 78c(a)); and
                    (B) any swap agreement traded on or cleared through
                such exchange or clearing agency; and
            (2) the Commodity Futures Trading Commission (and not any
        other Federal financial regulator) shall exercise oversight and
        carry out regulatory or oversight activity over--
                    (A) any trading facility or registered entity (as
                those terms are defined in section 1a of the Commodity
                Exchange Act (7 U.S.C. 1a)); and
                    (B) any swap agreement executed on, traded on, or
                cleared through such trading facility or registered
                entity.
    (c) Rules of Construction.--Nothing in this Act may be construed
as--
            (1) limiting or reducing the authority of a Federal
        financial regulator in effect on the date of enactment of this
        Act with respect to swap agreements;
            (2) affecting the authority of the Commodity Futures
        Trading Commission under section 2(h)(3) or 4(c) of the
        Commodity Exchange Act (7 U.S.C. 2(h)(3), 6(c)), or affecting
        any exemption granted under that section 4(c); or
            (3) requiring any swap agreement to be--
                    (A) conducted on or subject to the rules of a board
                of trade which has been designated or registered by the
                Commodity Futures Trading Commission as a contract
                market or derivatives transaction execution facility;
                or
                    (B) traded through an exchange or broker or dealer
                registered or required to be registered under the
                Securities Exchange Act of 1934 (15 U.S.C. 78a et
                seq.).
    (d) Consistent Treatment of Swap Agreements.--Prior to taking
action under subsection (a)(2), each Federal financial regulator shall
consult, work, and cooperate with other Federal financial regulators to
promote consistency in the treatment of swap agreements.

SEC. 4. DEFINITIONS.

    For the purposes of this Act, the following definitions shall
apply:
            (1) Federal financial regulator.--
                    (A) In general.--The term ``Federal financial
                regulator'' means--
                            (i) the Commodity Futures Trading
                        Commission;
                            (ii) the Federal Deposit Insurance
                        Corporation;
                            (iii) the Board of Governors of the Federal
                        Reserve System;
                            (iv) the National Credit Union
                        Administration;
                            (v) the Office of the Comptroller of the
                        Currency;
                            (vi) the Office of Thrift Supervision;
                            (vii) the Securities and Exchange
                        Commission; and
                            (viii) any other Federal agency that is
                        authorized under any provision of Federal law
                        to regulate any financial institution or type
                        or class of financial instrument or offering
                        thereof.
            (2) Purchase; sale.--The terms ``purchase'' and ``sale'',
        when used with respect to a swap agreement, means the
        execution, termination (prior to its scheduled maturity date),
        assignment, exchange, or similar transfer or conveyance of, or
        extinguishing of rights or obligations under a swap agreement,
        as the context may require.
            (3) Swap agreement.--
                    (A) In general.--The term ``swap agreement'' means
                any agreement, contract, or transaction between
                eligible contract participants (as defined in section
                1a(12) of the Commodity Exchange Act (7 U.S.C.
                1a(12))), the material terms of which (other than price
                and quantity) are subject to individual negotiation and
                that--
                            (i) is a put, call, cap, floor, collar, or
                        similar option of any kind for the purchase or
                        sale of, or based on the value of, 1 or more
                        interest or other rates, currencies,
                        commodities, indices, quantitative measures, or
                        other financial or economic interests or
                        property of any kind;
                            (ii) provides for any purchase, sale,
                        payment, or delivery (other than a dividend on
                        an equity security) that is dependent on the
                        occurrence, nonoccurrence, or the extent of the
                        occurrence of any event or contingency
                        associated with a potential financial,
                        economic, or commercial consequence;
                            (iii) provides on an executory basis for
                        the exchange, on a fixed or contingent basis,
                        of 1 or more payments based on the value or
                        level of 1 or more interest or other rates,
                        currencies, commodities, securities, instrument
                        of indebtedness, indices, quantitative
                        measures, or other financial or economic
                        interests or property of any kind, or any
                        interest therein or based on the value thereof,
                        and that transfers, as between the parties to
                        the transactions, in whole or in part, the
                        financial risk associated with a future change
                        in any such value or level without also
                        conveying a current or future direct or
                        indirect ownership interest in an asset
                        (including any enterprise or investment pool)
                        or liability that incorporates the financial
                        risk so transferred, including any such
                        agreement, contract, or transaction commonly
                        known as an ``interest rate swap'', including a
                        rate floor, rate cap, rate collar, cross-
                        currency rate swap, basis swap, currency swap,
                        equity index swap, equity swap, debt index
                        swap, debt swap, credit spread, credit default
                        swap, credit swap, weather swap, or commodity
                        swap;
                            (iv) provides for the purchase or sale, on
                        a fixed or contingent basis, of any commodity,
                        currency, instrument, interest, right, service,
                        good, articles, or property of any kind; or
                            (v) is any combination or permutation of,
                        or option on, any agreement, contract, or
                        transaction described in any of clauses (i)
                        through (iv).
                    (B) Exclusions.--The term ``swap agreement'' does
                not include--
                            (i) any put, call, straddle, option, or
                        privilege on any security, certificate of
                        deposit, or group or index of securities,
                        including any interest therein or based on the
                        value thereof;
                            (ii) any put, call, straddle, option, or
                        privilege entered into on a national securities
                        exchange registered pursuant to section 6(a) of
                        the Securities Exchange Act of 1934 (15 U.S.C.
                        78f(a)) relating to foreign currency;
                            (iii) any agreement, contract, or
                        transaction providing for the purchase or sale
                        of 1 or more securities on a fixed basis;
                            (iv) any agreement, contract, or
                        transaction providing for the purchase or sale
                        of 1 or more securities on a contingent basis,
                        unless the agreement, contract, or transaction
                        predicates the purchase or sale on the
                        occurrence of a bona fide contingency that
                        might reasonably be expected to affect or be
                        affected by the creditworthiness of a party
                        other than a party to the agreement, contract,
                        or transaction;
                            (v) any note, bond, or evidence of
                        indebtedness that is a security; or
                            (vi) any agreement, contract, or
                        transaction that is--
                                    (I) based on a security; and
                                    (II) entered into directly or
                                through an underwriter (as defined in
                                section 2(a) of the Securities Act of
                                1933 (15 U.S.C. 77b(a))) by the issuer
                                of the security for the purpose of
                                raising capital, unless such agreement,
                                contract, or transaction is entered
                                into to manage a risk associated with
                                capital raising.
                    (C) Inclusion.--The term ``swap agreement''
                includes a master agreement that provides for an
                agreement, contract, or transaction that is a swap
                agreement pursuant to subparagraphs (A) and (B),
                together with all supplements to any such master
                agreement, without regard to whether the master
                agreement contains an agreement, contract, or
                transaction that is not a swap agreement pursuant to
                subparagraphs (A) and (B), except that the master
                agreement shall be considered to be a swap agreement
                only with respect to each agreement, contract, or
                transaction under the master agreement that is a swap
                agreement pursuant to subparagraphs (A) and (B).
                    (D) Meaning of security.--For purposes of this
                paragraph, the term ``security'' has the same meaning
                as in section 2(a)(1) of the Securities Act of 1933 (15
                U.S.C. 77b(a)(1)) or section 3(a)(10) of the Securities
                Exchange Act of 1934 (15 U.S.C. 78c(a)(10)).

SEC. 5. CONFORMING AMENDMENTS.

    (a) Securities Act of 1933.--Section 17(a) of the Securities Act of
1933 (15 U.S.C. 77q(a)) is amended by striking ``security-based swap
agreement (as defined in section 206B of the Gramm-Leach-Bliley Act)''
and inserting ``swap agreement''.
    (b) Securities Exchange Act of 1934.--The Securities Exchange Act
of 1934 (15 U.S.C. 78a et seq.) is amended--
            (1) by striking ``security-based swap agreement (as defined
        in section 206B of the Gramm-Leach-Bliley Act)'' each place
        that term appears and inserting ``swap agreement'';
            (2) by striking ``security-based swap agreements (as
        defined in section 206B of the Gramm-Leach-Bliley Act)'' each
        place that term appears and inserting ``swap agreements'';
            (3) in each of sections 9 and 16 (15 U.S.C. 78i, 78p)--
                    (A) by striking ``security-based swap agreement''
                each place that term appears and inserting ``swap
                agreement''; and
                    (B) by striking ``security-based swap agreements''
                each place that term appears and inserting ``swap
                agreements'';
            (4) in section 10(b) (15 U.S.C. 78j(b)), by striking
        ``securities-based swap agreement (as defined in section 206B
        of the Gramm-Leach-Bliley Act)'' and inserting ``swap
        agreement'';
            (5) in section 16(a)(2)(C) (15 U.S.C. 78p(a)(2)(C)), by
        striking ``security-based swap agreement (as defined in section
        206(b) of the Gramm-Leach-Bliley Act (15 U.S.C. 78c note))''
        and inserting ``swap agreement''; and
            (6) in section 3(a)(55)(A) (15 U.S.C. 78c(a)(55)(A)), by
        striking ``2(c), 2(d), 2(f), or 2(g)'' and inserting ``2(c) or
        2(f)''.
    (c) Commodity Exchange Act.--
            (1) Section 1a of the Commodity Exchange Act (7 U.S.C. 1a)
        is amended--
                    (A) in paragraph (12)(A)(x), by striking ``or an
                exempt board of trade''; and
                    (B) in paragraph (31), in the second sentence, by
                striking ``2(c), 2(d), 2(f), or 2(g) of this Act'' and
                inserting ``2(c) or 2(f)''.
            (2) Section 2 of the Commodity Exchange Act (7 U.S.C. 2) is
        amended--
                    (A) in subsection (c)(1), by striking ``5d,'';
                    (B) in subsection (e)--
                            (i) in paragraph (1), by striking
                        ``2(d)(2), 2(g), or''; and
                            (ii) in paragraph (2), by striking ``, or
                        operating as an exempt board of trade'';
                    (C) in subsection (h)(4)(A), by striking ``5d,'';
                and
                    (D) in subsection (i)--
                            (i) in paragraph (1)(A), by striking
                        ``2(d), 2(e), 2(f), or 2(g)'' and inserting
                        ``2(e), or 2(f)''; and
                            (ii) in paragraph (2), by striking ``Act),
                        5b of this Act, or 5d of this Act'' and
                        inserting ``Act) or 5b of this Act''.
            (3) Section 5a(g)(1) of the Commodity Exchange Act (7
        U.S.C. 7a(g)(1)) is amended by striking ``2(c), 2(d), or 2(g)''
        and inserting ``2(c)''.
            (4) Section 5b of the Commodity Exchange Act (7 U.S.C. 7a-
        1) is amended--
                    (A) in subsection (a)(1), by striking ``2(d), 2(f),
                or 2(g)'' and inserting ``or 2(f)''; and
                    (B) in subsection (b), by striking ``2(c), 2(d),
                2(f), or 2(g)'' and inserting ``2(c) or 2(f)''.
            (5) Section 12(e) of the Commodity Exchange Act (7 U.S.C.
        16(e)) is amended--
                    (A) in paragraph (1)(B)(i), by striking ``or exempt
                board of trade''; and
                    (B) in paragraph (2)(B), by striking ``2(c), 2(d),
                2(f), or 2(g)'' and inserting ``2(c) or 2(f)''.
    (d) Federal Deposit Insurance Corporation Improvement Act.--Section
408(2)(C) of the Federal Deposit Insurance Corporation Improvement Act
of 1991 (12 U.S.C. 4421(2)(C)) is amended by striking ``2(c), 2(d),
2(f), or 2(g)'' and inserting ``2(c) or 2(f)''.

Output:
Authorizing the Regulation of Swaps Act - Amends the Gramm-Leach-Bliley Act, the Securities Act of 1933, the Securities Exchange Act of 1934, the Commodity Futures Modernization Act of 2000, the Legal Certainty for Bank Products Act of 2000, and the Commodity Exchange Act to repeal prohibitions against regulation of credit default swaps and other swap agreements, whether traded on an exchange or over-the-counter, including commodity, equity, foreign currency, and interest rate swaps.

Authorizes the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and specified other federal financial regulators to: (1) exercise oversight over any swap agreement entered into, purchased, or sold by any financial institution, entity, or person (for its own account or for the account of others), and any swap agreement, that is subject to the regulator's jurisdiction; and (2) promulgate, interpret, and enforce regulations, issue orders of general applicability, and impose disclosure, reporting, or recordkeeping requirements relating to any such swap agreement.

Grants the SEC sole oversight authority over: (1) any exchange or clearing agency; and (2) any swap agreement traded on or cleared through such exchange or clearing agency.

Grants the CFTC sole oversight authority over: (1) any trading facility or registered entity; and (2) any swap agreement executed on, traded on, or cleared through such trading facility or registered entity.


Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Student Right to Know Before You Go
Act of 2015''.

SEC. 2. AMENDMENT TO PROGRAM PARTICIPATION AGREEMENTS.

    Section 487(a)(17) of the Higher Education Act of 1965 (20 U.S.C.
1094(a)(17)) is amended by inserting ``and including the requirements
of section 493E'' after ``as designated by the Secretary''.

SEC. 3. INSTITUTIONAL AND FINANCIAL ASSISTANCE INFORMATION FOR
              STUDENTS.

    Section 485 of the Higher Education Act of 1965 (20 U.S.C. 1092) is
amended by adding at the end the following:
    ``(n) Alignment With Institutional Reporting Requirements Related
to IPEDS.--
            ``(1) In general.--Not later than 6 months after the date
        of enactment of the Student Right to Know Before You Go Act of
        2015, the Secretary shall issue guidance outlining which data
        metrics required to be submitted by institutions of higher
        education under section 493E are duplicative of institutional
        reporting requirements under this section and other provisions
        of this Act.
            ``(2) Link to institutional reporting website.--Not later
        than 5 years after the date of enactment of the Student Right
        to Know Before You Go Act of 2015, an institution of higher
        education participating in any program under this title shall--
                    ``(A) not be required to make available such
                duplicative requirements, as determined under paragraph
                (1), under this section and other provisions of this
                Act; and
                    ``(B) provide a prominently displayed link on the
                institution's website to the website described in
                section 493E(e)(2).''.

SEC. 4. INSTITUTIONAL REPORTING REQUIREMENTS.

    (a) Amendment to Database of Student Information Prohibited.--
Section 134(b) of the Higher Education Act of 1965 (20 U.S.C. 1015c(b))
is amended--
            (1) in paragraph (1), by striking ``and'' after the
        semicolon;
            (2) in paragraph (2), by striking the period at the end and
        inserting ``; and''; and
            (3) by adding at the end the following:
            ``(3) is necessary to carry out section 493E.''.
    (b) Reporting Requirements.--Part G of title IV of the Higher
Education Act of 1965 (20 U.S.C. 1088 et seq.) is amended by adding at
the end the following:

``SEC. 493E. INSTITUTIONAL REPORTING REQUIREMENTS.

    ``(a) In General.--
            ``(1) Submission of data.--Each institution of higher
        education participating in a program under this title shall
        submit to the Secretary data sufficient, as determined by the
        Secretary, to complete all student components of reporting
        required for the Integrated Postsecondary Education Data System
        (referred to in this section as `IPEDS').
            ``(2) Guidance.--Not later than 1 year after the date of
        enactment of the Student Right to Know Before You Go Act of
        2015, the Secretary shall submit to institutions of higher
        education guidance related to the submission of data under this
        subsection.
            ``(3) Review.--The Secretary shall review, every 5 years,
        the determination of the categories of data that shall be
        submitted pursuant to paragraph (1).
    ``(b) Establishment of Additional Student Classifications.--
            ``(1) In general.--Not later than 1 year after the date of
        enactment of the Student Right to Know Before You Go Act of
        2015, the Secretary shall--
                    ``(A) establish common definitions for institutions
                to follow in submitting the data required under this
                section; and
                    ``(B) determine collection and submission
                requirements.
            ``(2) Student-level components of ipeds.--The Secretary
        shall require institutions of higher education participating in
        a program under this title to submit student-level components
        of IPEDS to enable coding and reporting on--
                    ``(A) students who participate in remedial
                education at, or through, the institution;
                    ``(B) whether, and at what level, the student is
                seeking a degree; and
                    ``(C) whether the student is seeking a certificate.
    ``(c) Establishment of New Outcome Metrics.--
            ``(1) In general.--Data submitted to the Secretary under
        subsections (a) and (b) shall be used to calculate all student-
        level components of IPEDS.
            ``(2) Additional measures to be calculated.--In addition to
        the student-level component outcome measures required to be
        calculated by the Secretary on the day before the date of
        enactment of the Student Right to Know Before You Go Act of
        2015, the Secretary shall, beginning not later than 2 years
        after the date of enactment of the Student Right to Know Before
        You Go Act of 2015, also calculate, at the institutional and
        program-specific levels, the following:
                    ``(A) The percentage of students who receive--
                            ``(i) Federal grants;
                            ``(ii) Federal loans;
                            ``(iii) State grants;
                            ``(iv) State loans;
                            ``(v) institutional grants; or
                            ``(vi) institutional loans.
                    ``(B) The average amount of total Federal loan debt
                upon student graduation assumed by students while
                enrolled at the institution.
                    ``(C) The average amount of total Federal loan debt
                of students who do not complete a program of study 2
                years after the students' last known enrollment in any
                institution of higher education.
                    ``(D) Student transfer rates by sector of transfer,
                which shall be defined as the percentage of students
                who leave an institution and successfully enroll in and
                complete a program of study at another institution,
                including whether the receiving institution is a public
                4-year institution, public 2-year institution, public
                less-than-2-year institution, private nonprofit 4-year
                institution, private nonprofit 2-year institution,
                private nonprofit less-than-2-year institution, private
                for-profit 4-year institution, private for-profit 2-
                year institution, or private for-profit less-than-2-
                year institution.
                    ``(E) Rates of continuation to higher levels of
                education.
                    ``(F) The percentage of students who receive the
                degree level they initially sought.
                    ``(G) The outcome measures described in
                subparagraphs (A) through (F), in addition to all
                student-level components of IPEDS required to be
                reported on the day before the date of enactment of the
                Student Right to Know Before You Go Act of 2015,
                disaggregated on the basis of the following student
                types:
                            ``(i) Students who received a Federal Pell
                        Grant.
                            ``(ii) Students who received a loan under
                        part B or part D, but not a Federal Pell Grant.
                            ``(iii) Students who received neither a
                        Federal Pell Grant, nor a loan under part B or
                        part D.
                            ``(iv) Students who are identified as
                        veterans or members of the Armed Forces who
                        received assistance under the Post-9/11
                        Veterans Educational Assistance Program under
                        chapter 33 of title 38, United States Code, or
                        tuition assistance under the laws administered
                        by the Secretary of Defense. The Secretary of
                        Veterans Affairs and Secretary of the
                        Department of Defense shall coordinate with the
                        Secretary to make available data sufficient to
                        enable such reporting under this clause.
                            ``(v) Enrollment status, including the
                        following:
                                    ``(I) First-time, full-time
                                students.
                                    ``(II) First-time, part-time
                                students.
                                    ``(III) Non-first-time, full-time
                                students.
                                    ``(IV) Non-first-time, part-time
                                students.
                            ``(vi) Enrollment intensity while enrolled
                        at the institution, including the following:
                                    ``(I) Full-time only.
                                    ``(II) Part-time only.
                                    ``(III) Mixed enrollment, both
                                full- and part-time.
                    ``(H) Earning metrics, generated through a system
                established by the Secretary in cooperation with the
                Commissioner of Social Security and using the student
                components of IPEDS, that shall include--
                            ``(i) median annual earnings and employment
                        metrics, disaggregated by--
                                    ``(I) educational program based on
                                CIP code;
                                    ``(II) credential received;
                                    ``(III) educational institution;
                                and
                                    ``(IV) State of employment; and
                            ``(ii) the disaggregated median annual
                        earnings for each of the categories described
                        in subclauses (I) through (IV) of clause (i),
                        further disaggregated for each of the following
                        time periods:
                                    ``(I) 2 years after educational
                                program completion.
                                    ``(II) 6 years after educational
                                program completion.
                                    ``(III) 15 years after educational
                                program completion.
                    ``(I) Other information determined necessary by the
                Secretary.
            ``(3) Consultation.--In carrying out this section, the
        Secretary shall consult extensively with State offices with
        existing, as of the date of the consultation, student-level
        data collections from public and private institutions,
        particularly in the formulation of the calculation and
        reporting standards outlined in this subsection and subsections
        (a) and (b), and the public access to data under subsection
        (e)(2).
            ``(4) Guidelines.--The Secretary shall issue guidelines to
        institutions of higher education regarding the amendments
        needed to the annual privacy notices required under section
        444(c)(3) of the General Education Provisions Act (commonly
        referred to as the `Family Educational Rights and Privacy Act
        of 1974') of the institutions in order to reference the data
        collection required under this section.
    ``(d) Unauthorized Uses.--
            ``(1) In general.--Any personally identifiable information
        collected for the data system under this section shall not be
        used for any use that is not either specifically authorized by
        this section or permitted as a disclosure under this section.
            ``(2) No federal action.--No action of Federal authority
        may be taken against an individual based on data collected for
        the data system developed under this section. No Federal
        agency, officer, or employee and no recipient of a Federal
        grant, contract, or cooperative agreement may, for any reason,
        require the Secretary or any employee of the Secretary to
        disclose personally identifiable information that has been
        collected or retained under this section.
            ``(3) Immunity.--Personally identifiable information
        collected or retained under this section shall be immune from
        legal process and shall not, without the consent of the
        individual concerned, be admitted as evidence or used for any
        purpose in any action, suit, or other judicial or
        administrative proceeding.
            ``(4) No institution action.--An institution of higher
        education may not use the data system developed under this
        section, or data accessed through such system, to take any
        action against an individual.
            ``(5) Application.--This subsection shall not apply to
        requests for personally identifiable information submitted by
        or on behalf of the individual identified in the information.
        Any such individual has the right to request and receive from
        the Secretary the data containing personally identifiable
        information collected on the individual's behalf, upon
        demonstrating the individual's identity to the satisfaction of
        the Secretary.
    ``(e) Permissible Disclosures.--
            ``(1) Disclosure limitation.--In carrying out the public
        reporting and disclosure requirements of this Act, the
        Secretary shall use appropriate statistical disclosure
        limitation techniques necessary such that the data released to
        the public cannot include personally identifiable information
        or be used to identify specific individuals.
            ``(2) Public availability.--
                    ``(A) In general.--The Secretary shall post the
                aggregate data collected under this section on a
                website of the Department in a timely and user-friendly
                manner.
                    ``(B) Additional research availability.--The
                Secretary may make available the non-personally
                identifiable data set used to prepare the data for the
                website in accordance with subparagraph (A) to
                researchers performing studies or evaluations approved
                by the Secretary or the Director of the Institute of
                Education Sciences.
                    ``(C) Enabling administrative improvement by
                institutions of higher education.--The Secretary shall
                create a process through which institutions of higher
                education participating in programs under this title
                and States may request and receive from the Department
                aggregate student outcome data for the purposes of
                institutional improvement and program evaluation. The
                Secretary shall promulgate regulations to ensure fair
                and equitable access to such data.
            ``(3) No sale of data.--The Secretary shall not sell any
        data collected under this section, including the public use
        data set available under paragraph (2)(B), to any third party.
    ``(f) Ensuring Comparability of Data Metric.--For a period of 5
years following the date of enactment of the Student Right to Know
Before You Go Act of 2015, the Secretary shall be responsible for
publishing all student-level components of IPEDS as such components
would have been produced on the day before the date of enactment of the
Student Right to Know Before You Go Act of 2015.
    ``(g) Felony for Willful Disclosure.--
            ``(1) In general.--It shall be unlawful for any person who
        obtains or has access to personally identifiable information in
        connection with the data system described in this section to
        willfully disclose such personally identifiable information, in
        any manner, to any person that is not entitled to receive the
        information.
            ``(2) Penalty.--Any person who violates paragraph (1) shall
        be found guilty of a felony and imprisoned for not more than 5
        years, or fined as specified in section 3571 of title 18,
        United States Code, or both.
    ``(h) Protection of Data.--The Secretary shall promulgate and
periodically review guidance and regulations relating to security,
which shall govern the access, use, and disclosure of data collected in
connection with the activities authorized in this Act. The regulations
developed and reviewed shall be consistent with the need to protect
data from unauthorized access, use, and disclosure, and shall include--
            ``(1) an audit capability;
            ``(2) access controls; and
            ``(3) requirements to ensure sufficient data security,
        quality, validity, and reliability.
    ``(i) Definition of Personally Identifiable Information.--In this
section, the term `personally identifiable information' includes--
            ``(1) a student's name;
            ``(2) the name of a student's parent or other family
        members;
            ``(3) the address of a student or student's family;
            ``(4) a personal identifier, such as a student's social
        security number, student number, or biometric record;
            ``(5) other indirect identifiers, such as a student's date
        of birth, place of birth, and mother's maiden name;
            ``(6) other information that, alone or in combination, is
        linked or linkable to a specific student that would allow a
        reasonable person in the school community, who does not have
        personal knowledge of the relevant circumstances, to identify
        the student with reasonable certainty; or
            ``(7) information requested by a person who the educational
        agency or institution reasonably believes knows the identity of
        the student to whom the education record relates.
    ``(j) Authorization of Appropriations.--There are authorized to be
appropriated to carry out this section such sums as may be necessary
for each of fiscal years 2016 through 2024.''.

Output: Student Right to Know Before You Go Act of 2015   This bill amends the Higher Education Act of 1965 to modify reporting requirements for institutions of higher education (IHEs) that participate in title IV federal financial aid programs. Currently, to retain title IV eligibility, IHEs must report data to the Department of Education (ED) through the Integrated Postsecondary Education Data System (IPEDS).  This bill requires IHEs to submit additional student enrollment data to ED to enable coding and reporting on students' level of academic preparation. It also requires ED to calculate additional outcome measures by institution and program, including:    the percentage of students who receive federal, state, or institutional grants or loans; the average amount of federal loan debt upon graduation; the average amount of total federal loan debt of students who do not complete a program of study; student transfer rates; rates of continuation to higher levels of education; and the percentage of students who receive the degree they initially sought.   ED must report additional outcome measures established by this Act, as well as all existing student data in IPEDS, based on these student types:   receipt or non-receipt of federal Pell Grants, receipt or non-receipt of Stafford Loans,  participation in the Post-9/11 Veterans Educational Assistance Program,  enrollment status, and enrollment intensity.  ED must also, in cooperation with the Social Security Administration, make publicly available data on employment metrics and median annual earnings 2 years, 6 years, and 15 years after program completion. ED must report the data by:   education program,  credential received,  institution, and  state of employment.


Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Supporting America's Young
Entrepreneurs Act of 2016''.

SEC. 2. SMALL BUSINESS START-UP EMPLOYEE LOAN DEFERMENT AND
              CANCELLATION.

    (a) Deferment.--Section 455(f) of the Higher Education Act of 1965
(20 U.S.C. 1087e(f)) is amended--
            (1) in paragraph (1), by striking ``A borrower of a loan''
        and inserting ``Except as provided in paragraph (5), a borrower
        of a loan''; and
            (2) by adding at the end the following:
            ``(5) No interest deferment eligibility for founders of
        small business start-ups.--A borrower of a loan made under this
        part shall be eligible for a deferment, during which periodic
        installments of principal and interest need not be paid, during
        any period not in excess of 3 years during which the borrower
        is employed as a founder of a small business start-up (as
        defined in subsection (r)(3)).''.
    (b) Loan Cancellation.--Section 455 of the Higher Education Act of
1965 (20 U.S.C. 1087e) is amended by adding at the end the following:
    ``(r) Loan Cancellation for Certain Small Business Start-Up
Employees.--
            ``(1) Founder of a small business start-up in a distressed
        area.--
                    ``(A) In general.--The Secretary shall cancel
                $20,000 of the balance of interest and principal due,
                in accordance with subparagraph (B), on any eligible
                Federal Direct Loan not in default for a borrower who--
                            ``(i) has made 24 monthly payments on the
                        eligible Federal Direct Loan after the date of
                        the enactment of this subsection pursuant to
                        any one or a combination of payments under a
                        repayment plan under subsection (d)(1) or (g);
                            ``(ii) has been employed as a founder of a
                        small business start-up in a distressed area
                        during the period in which the borrower makes
                        each of the 24 payments;
                            ``(iii) is employed as a founder of a small
                        business start-up in a distressed area at the
                        time of such cancellation; and
                            ``(iv) is approved for loan cancellation by
                        the young entrepreneurs business center under
                        section 47 of the Small Business Act (16 U.S.C.
                        631 et seq.).
                    ``(B) Loan cancellation amount.--
                            ``(i) In general.--After the conclusion of
                        the employment period described in subparagraph
                        (A), the Secretary shall cancel the obligation
                        to repay $20,000 of the balance of interest and
                        principal due as of the time of such
                        cancellation, on the eligible Federal Direct
                        Loans made to the borrower under this part.
                            ``(ii) Limitation.--A borrower may not
                        receive an aggregate amount of more than
                        $20,000 under this subparagraph.
                    ``(C) Ineligibility for double benefits.--No
                borrower may, for the same service, receive a reduction
                of loan obligations under both this paragraph and--
                            ``(i) paragraph (2);
                            ``(ii) subsection (m); or
                            ``(iii) section 428J, 428K, 428L, or 460.
            ``(2) Employee of a small business start-up.--
                    ``(A) In general.--The Secretary shall cancel
                $3,000 of the balance of interest and principal due, in
                accordance with subparagraph (B), on any eligible
                Federal Direct Loan not in default for a borrower who--
                            ``(i) has made 12 monthly payments on the
                        eligible Federal Direct Loan after the date of
                        the enactment of this subsection pursuant to
                        any one or a combination of payments under a
                        repayment plan under subsection (d)(1) or (g);
                            ``(ii) has been employed in a small
                        business start-up job during the period in
                        which the borrower makes each of the 12
                        payments; and
                            ``(iii) is employed in a small business
                        start-up job at the time of such cancellation.
                    ``(B) Loan cancellation amount.--
                            ``(i) In general.--After the conclusion of
                        the employment period described in subparagraph
                        (A), the Secretary shall cancel the obligation
                        to repay $3,000 of the balance of interest and
                        principal due as of the time of such
                        cancellation, on the eligible Federal Direct
                        Loans made to the borrower under this part.
                            ``(ii) Limitation.--A borrower may not
                        receive an aggregate amount of more than
                        $15,000 under this subparagraph.
                    ``(C) Ineligibility for double benefits.--No
                borrower may, for the same service, receive a reduction
                of loan obligations under both this paragraph and--
                            ``(i) paragraph (1);
                            ``(ii) subsection (m); or
                            ``(iii) section 428J, 428K, 428L, or 460.
            ``(3) Definitions.--In this subsection:
                    ``(A) Distressed area.--The term `distressed area'
                means an area identified under section 47 of the Small
                Business Act (16 U.S.C. 631 et seq.).
                    ``(B) Eligible federal direct loan.--The term
                `eligible Federal Direct Loan' means a Federal Direct
                Stafford Loan, Federal Direct PLUS Loan, or Federal
                Direct Unsubsidized Stafford Loan, or a Federal Direct
                Consolidation Loan.
                    ``(C) Founder.--The term `founder' shall have the
                meaning given such term by the Administrator of the
                Small Business Administration under this paragraph.
                    ``(D) Small business start-up.--The term `small
                business start-up' means a business that is certified
                by the young entrepreneurs business center under
                section 47 of the Small Business Act (16 U.S.C. 631 et
                seq.).
                    ``(E) Small business start-up job.--The term `small
                business start-up job' means a full-time job as an
                employee of a small business start-up.''.

SEC. 3. LOAN REFINANCING.

    (a) In General.--Part D of title IV of the Higher Education Act of
1965 is amended by adding at the end the following:

``SEC. 460. FEDERAL DIRECT REFINANCED PRIVATE LOAN PROGRAM.

    ``(a) Definitions.--In this section:
            ``(1) Eligible private education loan.--The term `eligible
        private education loan' means a private education loan, as
        defined in section 140(a) of the Truth in Lending Act (15
        U.S.C. 1650(a)), that was for the borrower's own postsecondary
        educational expenses for an eligible program at an institution
        of higher education participating in the loan program under
        this part, as of the date that the loan was disbursed.
            ``(2) Federal direct refinanced private loan.--The term
        `Federal Direct Refinanced Private Loan' means a loan issued
        under subsection (b)(1).
            ``(3) Private educational lender.--The term `private
        educational lender' has the meaning given the term in section
        140(a) of the Truth in Lending Act (15 U.S.C. 1650(a)).
            ``(4) Qualified borrower.--The term `qualified borrower'
        means an individual who--
                    ``(A) has an eligible private education loan;
                    ``(B) has been current on payments on the eligible
                private education loan for the 6 months prior to the
                date of the qualified borrower's application for
                refinancing under this section, and is in good standing
                on the loan at the time of such application;
                    ``(C) is not in default on the eligible private
                education loan or on any loan made, insured, or
                guaranteed under this part or part B or E; and
                    ``(D) meets the eligibility requirements described
                in subsection (b)(2).
    ``(b) Program Authorized.--
            ``(1) In general.--The Secretary, in consultation with the
        Secretary of the Treasury, shall carry out a program under
        which the Secretary, upon application by a qualified borrower
        who has an eligible private education loan, shall issue such
        borrower a loan under this part in accordance with the
        following:
                    ``(A) The loan issued under this program shall be
                in an amount equal to the sum of the unpaid principal,
                accrued unpaid interest, and late charges of the
                private education loan.
                    ``(B) The Secretary shall pay the proceeds of the
                loan issued under this program to the private
                educational lender of the private education loan, in
                order to discharge the qualified borrower from any
                remaining obligation to the private educational lender
                with respect to the original private education loan.
                    ``(C) The Secretary shall require that the
                qualified borrower undergo loan counseling that
                provides all of the information and counseling required
                under clauses (i) through (viii) of section
                485(b)(1)(A) before the loan is refinanced in
                accordance with this section, and before the proceeds
                of such loan are paid to the private educational
                lender.
                    ``(D) The Secretary shall issue the loan as a
                Federal Direct Refinanced Private Loan, which shall
                have the same terms, conditions, and benefits as a
                Federal Direct Subsidized Loan, except as otherwise
                provided in this section.
            ``(2) Borrower eligibility.--Not later than 180 days after
        the date of the enactment of this section, the Secretary, in
        consultation with the Secretary of the Treasury and the
        Director of the Bureau of Consumer Financial Protection, shall
        establish eligibility requirements--
                    ``(A) to ensure eligibility only for qualified
                borrowers in good standing;
                    ``(B) to minimize inequities between Federal Direct
                Refinanced Private Loans and other Federal student
                loans;
                    ``(C) to preclude windfall profits for private
                educational lenders; and
                    ``(D) to ensure full access to the program
                authorized in this subsection for borrowers with
                private loans who otherwise meet the criteria
                established in accordance with subparagraphs (A) and
                (B).
    ``(c) Interest Rate.--
            ``(1) In general.--The interest rate for a Federal Direct
        Refinanced Private Loan is, in the case a private education
        loan originally issued for undergraduate, graduate, or
        professional degree postsecondary educational expenses, a rate
        equal to the rate for Federal Direct Subsidized Stafford Loans
        issued to undergraduate students for the 12-month period
        beginning on July 1, 2016, and ending on June 30, 2017.
            ``(2) Fixed rate.--The applicable rate of interest
        determined under this subsection for a Federal Direct
        Refinanced Private Loan shall be fixed for the period of the
        loan.
    ``(d) Treatment of Loans.--Nothing in this section shall affect the
ability of a borrower to qualify for loan repayment under a repayment
plan under subsection (d)(1) or (g) of section 455.''.
    (b) Notice of Potential Eligibility.--Section 128(e) of the Truth
in Lending Act (15 U.S.C. 1638(e)) is amended by adding at the end the
following new paragraph:
            ``(12) Notice required along with billing statements.--
        Along with each billing statement sent to the borrower, the
        private educational lender shall include a statement informing
        the borrower that the borrower may be eligible for the Federal
        Direct Refinanced Private Loan program established under
        section 460 of the Higher Education Act of 1965.''.

SEC. 4. YOUNG ENTREPRENEURS BUSINESS CENTER.

    The Small Business Act (15 U.S.C. 631 et seq.) is amended--
            (1) by redesignating section 47 as section 48; and
            (2) by inserting after section 46 the following:

``SEC. 47. YOUNG ENTREPRENEURS BUSINESS CENTER.

    ``(a) Establishment.--There is established within the
Administration a young entrepreneurs business center that shall, for
purposes of loan cancellation for start-up employees established under
subsection (r) of section 455 of the Higher Education Act of 1965 (20
U.S.C. 1087e)--
            ``(1) certify small business start-ups under subsection
        (b);
            ``(2) identify distressed areas under subsection (c); and
            ``(3) approve loan cancellation for founders of small
        business start-ups in distressed areas under subsection (d).
    ``(b) Certification.--
            ``(1) Application.--To be certified by the young
        entrepreneurs business center, a small business start-up shall
        submit an application to the Administrator that includes--
                    ``(A) a 5-year business plan for such small
                business start-up; and
                    ``(B) the number of employees the small business
                start-up intends to employ on a yearly basis.
            ``(2) Requirements.--The young entrepreneurs business
        center may not certify a small business start-up unless such
        small business start-up, on the date the application is
        submitted under paragraph (1)--
                    ``(A) has a founder who is a recent graduate of a
                4-year institution of higher education;
                    ``(B) is a start-up for which at least 50 percent
                of the employees of the start-up are recent graduates
                of such an institution.
    ``(c) Distressed Area.--
            ``(1) In general.--Not less than once every 3 years after
        the date of the enactment of this section, the young
        entrepreneurs business center shall identify and make
        publically available on the website of the Administration a
        list of distressed areas.
            ``(2) Requirements.--A distressed area identified under
        paragraph (1) shall be a county or equivalent division of local
        government of a State in which the small business concern is
        located that--
                    ``(A) has, for the most recent 24-month period for
                which statistics are available--
                            ``(i) a per capita income of 80 percent or
                        less of the national average; or
                            ``(ii) an unemployment rate that is 1
                        percent greater than the national average; and
                    ``(B) the young entrepreneurs business center
                determines would economically benefit from having small
                business start-ups established in such area.
    ``(d) Loan Cancellation for Founders of a Small Business Start-Up
in a Distressed Area.--For purposes of loan cancellation under
subsection (r)(1) of section 455 of the Higher Education Act of 1965
(20 U.S.C. 1087e) the young entrepreneurs business center shall approve
a founder of a small business start-up in a distressed area if such
founder--
            ``(1) established a small business start-up that--
                    ``(A) on the date such small business start-up was
                established, was located in a distressed area
                identified by the young entrepreneurs business center
                under subsection (c) not more than 3 years before such
                date of establishment;
                    ``(B) was certified under subsection (b); and
                    ``(C) on the date of approval under this
                subsection, has been operating continuously for not
                less than 5 years; and
            ``(2) was employed as a founder of a small business start-
        up in a distressed area during the period in which such founder
        made the 24 payments described in subsection (r)(1)(A) of such
        section 455.
    ``(e) Definitions.--In this section:
            ``(1) Institution of higher education.--The term
        `institution of higher education' has the meaning given such
        term in section 102 of the Higher Education Act (20 U.S.C.
        1002).
            ``(2) Small business start-up.--The term `small business
        start-up' means a small business concern that--
                    ``(A) is not yet in existence; or
                    ``(B) has been in existence for not more than 3
                years.''.

SEC. 5. TREATMENT OF LOAN CANCELLATION.

    (a) In General.--Section 108(f) of the Internal Revenue Code of
1986 is amended by adding at the end the following new paragraph:
            ``(5) Cancellation of certain federal student loans.--In
        the case of an individual, gross income shall not include the
        discharge (in whole or in part) of any student loan pursuant to
        the cancellation (in whole or in part) of such loan by the
        Secretary of Education under subsection (r) of section 455 of
        the Higher Education Act of 1965 (20 U.S.C. 1087e).''.
    (b) Effective Date.--The amendment made by this section shall apply
to discharges of indebtedness occurring after the date of the enactment
of this Act.

Output: Supporting America's Young Entrepreneurs Act of 2016 This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to make eligible for deferment and cancellation under the Federal Direct Loan program a borrower who is an employee or founder of a small business start-up in a distressed area. It also amends the Internal Revenue Code to exclude from an individual's gross income the amount of such canceled student loan debt.  The bill establishes a Federal Direct Refinanced Private Loan program to refinance private education loans. Finally, it establishes a young entrepreneurs business center within the Small Business Administration to certify small business start-ups, identify distressed areas, and approve loan cancelation for founders of small business start-ups.