Input:
SECTION 1. DEFINITIONS.

    For the purposes of this Act, the following definitions apply:
        (1) Conservation area.--The term ``Conservation Area'' means
    the Las Cienegas National Conservation Area established by section
    4(a).
        (2) Acquisition planning district.--The term ``Acquisition
    Planning District'' means the Sonoita Valley Acquisition Planning
    District established by section 2(a).
        (3) Management plan.--The term ``management plan'' means the
    management plan for the Conservation Area.
        (4) Public lands.--The term ``public lands'' has the meaning
    given the term in section 103(e) of the Federal Land Policy and
    Management Act of 1976 (43 U.S.C. 1702(e)), except that such term
    shall not include interest in lands not owned by the United States.
        (5) Secretary.--The term ``Secretary'' means the Secretary of
    the Interior.

SEC. 2. ESTABLISHMENT OF THE SONOITA VALLEY ACQUISITION PLANNING
              DISTRICT.

    (a) In General.--In order to provide for future acquisitions of
important conservation land within the Sonoita Valley region of the
State of Arizona, there is hereby established the Sonoita Valley
Acquisition Planning District.
    (b) Areas Included.--The Acquisition Planning District shall
consist of approximately 142,800 acres of land in the Arizona counties
of Pima and Santa Cruz, including the Conservation Area, as generally
depicted on the map entitled ``Sonoita Valley Acquisition Planning
District and Las Cienegas National Conservation Area'' and dated
October 2, 2000.
    (c) Map and Legal Description.--As soon as practicable after the
date of the enactment of this Act, the Secretary shall submit to
Congress a map and legal description of the Acquisition Planning
District. In case of a conflict between the map referred to in
subsection (b) and the map and legal description submitted by the
Secretary, the map referred to in subsection (b) shall control. The map
and legal description shall have the same force and effect as if
included in this Act, except that the Secretary may correct clerical
and typographical errors in such map and legal description. Copies of
the map and legal description shall be on file and available for public
inspection in the Office of the Director of the Bureau of Land
Management, and in the appropriate office of the Bureau of Land
Management in Arizona.

SEC. 3. PURPOSES OF THE ACQUISITION PLANNING DISTRICT.

    (a) In General.--The Secretary shall negotiate with land owners for
the acquisition of lands and interest in lands suitable for
Conservation Area expansion that meet the purposes described in section
4(a). The Secretary shall only acquire property under this Act pursuant
to section 7.
    (b) Federal Lands.--The Secretary, through the Bureau of Land
Management, shall administer the public lands within the Acquisition
Planning District pursuant to this Act and the applicable provisions of
the Federal Land Policy and Management Act of 1976 (43 U.S.C. 1701 et
seq.), subject to valid existing rights, and in accordance with the
management plan. Such public lands shall become part of the
Conservation Area when they become contiguous with the Conservation
Area.
    (c) Fish and Wildlife.--Nothing in this Act shall be construed as
affecting the jurisdiction or responsibilities of the State of Arizona
with respect to fish and wildlife within the Acquisition Planning
District.
    (d) Protection of State and Private Lands and Interests.--Nothing
in this Act shall be construed as affecting any property rights or
management authority with regard to any lands or interest in lands held
by the State of Arizona, any political subdivision of the State of
Arizona, or any private property rights within the boundaries of the
Acquisition Planning District.
    (e) Public Lands.--Nothing in this Act shall be construed as in any
way diminishing the Secretary's or the Bureau of Land Management's
authorities, rights, or responsibilities for managing the public lands
within the Acquisition Planning District.
    (f) Coordinated Management.--The Secretary shall coordinate the
management of the public lands within the Acquisition Planning District
with that of surrounding county, State, and private lands consistent
with the provisions of subsection (d).

SEC. 4. ESTABLISHMENT OF THE LAS CIENEGAS NATIONAL CONSERVATION AREA.

    (a) In General.--In order to conserve, protect, and enhance for the
benefit and enjoyment of present and future generations the unique and
nationally important aquatic, wildlife, vegetative, archaeological,
paleontological, scientific, cave, cultural, historical, recreational,
educational, scenic, rangeland, and riparian resources and values of
the public lands described in subsection (b) while allowing livestock
grazing and recreation to continue in appropriate areas, there is
hereby established the Las Cienegas National Conservation Area in the
State of Arizona.
    (b) Areas Included.--The Conservation Area shall consist of
approximately 42,000 acres of public lands in the Arizona counties of
Pima and Santa Cruz, as generally depicted on the map entitled
``Sonoita Valley Acquisition Planning District and Las Cienegas
National Conservation Area'' and dated October 2, 2000.
    (c) Maps and Legal Description.--As soon as practicable after the
date of the enactment of this Act, the Secretary shall submit to
Congress a map and legal description of the Conservation Area. In case
of a conflict between the map referred to in subsection (b) and the map
and legal description submitted by the Secretary, the map referred to
in subsection (b) shall control. The map and legal description shall
have the same force and effect as if included in this Act, except that
the Secretary may correct clerical and typographical errors in such map
and legal description. Copies of the map and legal description shall be
on file and available for public inspection in the Office of the
Director of the Bureau of Land Management, and in the appropriate
office of the Bureau of Land Management in Arizona.
    (d) Forest Lands.--Any lands included in the Coronado National
Forest that are located within the boundaries of the Conservation Area
shall be considered to be a part of the Conservation Area. The
Secretary of Agriculture shall revise the boundaries of the Coronado
National Forest to reflect the exclusion of such lands from the
Coronado National Forest.

SEC. 5. MANAGEMENT OF THE LAS CIENEGAS NATIONAL CONSERVATION AREA.

    (a) In General.--The Secretary shall manage the Conservation Area
in a manner that conserves, protects, and enhances its resources and
values, including the resources and values specified in section 4(a),
pursuant to the Federal Land Policy and Management Act of 1976 (43
U.S.C. 1701 et seq.) and other applicable law, including this Act.
    (b) Uses.--The Secretary shall allow only such uses of the
Conservation Area as the Secretary finds will further the purposes for
which the Conservation Area is established as set forth in section
4(a).
    (c) Grazing.--The Secretary of the Interior shall permit grazing
subject to all applicable laws, regulations, and Executive orders
consistent with the purposes of this Act.
    (d) Motorized Vehicles.--Except where needed for administrative
purposes or to respond to an emergency, use of motorized vehicles on
public lands in the Conservation Area shall be allowed only--
        (1) before the effective date of a management plan prepared
    pursuant to section 6, on roads and trails designated for use of
    motorized vehicles in the management plan that applies on the date
    of the enactment of this Act; and
        (2) after the effective date of a management plan prepared
    pursuant to section 6, on roads and trails designated for use of
    motor vehicles in that management plan.
    (e) Military Airspace.--Prior to the date of the enactment of this
Act the Federal Aviation Administration approved restricted military
airspace (Areas 2303A and 2303B) which covers portions of the
Conservation Area. Designation of the Conservation Area shall not
impact or impose any altitude, flight, or other airspace restrictions
on current or future military operations or missions. Should the
military require additional or modified airspace in the future, the
Congress does not intend for the designation of the Conservation Area
to impede the military from petitioning the Federal Aviation
Administration to change or expand existing restricted military
airspace.
    (f) Access to State and Private Lands.--Nothing in this Act shall
affect valid existing rights-of-way within the Conservation Area. The
Secretary shall provide reasonable access to nonfederally owned lands
or interest in lands within the boundaries of the Conservation Area.
    (g) Hunting.--Hunting shall be allowed within the Conservation Area
in accordance with applicable laws and regulations of the United States
and the State of Arizona, except that the Secretary, after consultation
with the Arizona State wildlife management agency, may issue
regulations designating zones where and establishing periods when no
hunting shall be permitted for reasons of public safety,
administration, or public use and enjoyment.
    (h) Preventative Measures.--Nothing in this Act shall preclude such
measures as the Secretary determines necessary to prevent devastating
fire or infestation of insects or disease within the Conservation Area.
    (i) No Buffer Zones.--The establishment of the Conservation Area
shall not lead to the creation of protective perimeters or buffer zones
around the Conservation Area. The fact that there may be activities or
uses on lands outside the Conservation Area that would not be permitted
in the Conservation Area shall not preclude such activities or uses on
such lands up to the boundary of the Conservation Area consistent with
other applicable laws.
    (j) Withdrawals.--Subject to valid existing rights all Federal
lands within the Conservation Area and all lands and interest therein
which are hereafter acquired by the United States are hereby withdrawn
from all forms of entry, appropriation, or disposal under the public
land laws and from location, entry, and patent under the mining laws,
and from operation of the mineral leasing and geothermal leasing laws
and all amendments thereto.

SEC. 6. MANAGEMENT PLAN.

    (a) Plan Required.--Not later than 2 years after the date of the
enactment of this Act, the Secretary, through the Bureau of Land
Management, shall develop and begin to implement a comprehensive
management plan for the long-term management of the public lands within
the Conservation Area in order to fulfill the purposes for which it is
established, as set forth in section 4(a). Consistent with the
provisions of this Act, the management plan shall be developed--
        (1) in consultation with appropriate departments of the State
    of Arizona, including wildlife and land management agencies, with
    full public participation;
        (2) from the draft Empire-Cienega Ecosystem Management Plan/
    EIS, dated October 2000, as it applies to Federal lands or lands
    with conservation easements; and
        (3) in accordance with the resource goals and objectives
    developed through the Sonoita Valley Planning Partnership process
    as incorporated in the draft Empire-Cienega Ecosystem Management
    Plan/EIS, dated October 2000, giving full consideration to the
    management alternative preferred by the Sonoita Valley Planning
    Partnership, as it applies to Federal lands or lands with
    conservation easements.
    (b) Contents.--The management plan shall include--
        (1) provisions designed to ensure the protection of the
    resources and values described in section 4(a);
        (2) an implementation plan for a continuing program of
    interpretation and public education about the resources and values
    of the Conservation Area;
        (3) a proposal for minimal administrative and public facilities
    to be developed or improved at a level compatible with achieving
    the resource objectives for the Conservation Area and with the
    other proposed management activities to accommodate visitors to the
    Conservation Area;
        (4) cultural resources management strategies for the
    Conservation Area, prepared in consultation with appropriate
    departments of the State of Arizona, with emphasis on the
    preservation of the resources of the Conservation Area and the
    interpretive, educational, and long-term scientific uses of these
    resources, giving priority to the enforcement of the Archaeological
    Resources Protection Act of 1979 (16 U.S.C. 470aa et seq.) and the
    National Historic Preservation Act (16 U.S.C. 470 et seq.) within
    the Conservation Area;
        (5) wildlife management strategies for the Conservation Area,
    prepared in consultation with appropriate departments of the State
    of Arizona and using previous studies of the Conservation Area;
        (6) production livestock grazing management strategies,
    prepared in consultation with appropriate departments of the State
    of Arizona;
        (7) provisions designed to ensure the protection of
    environmentally sustainable livestock use on appropriate lands
    within the Conservation Area;
        (8) recreation management strategies, including motorized and
    nonmotorized dispersed recreation opportunities for the
    Conservation Area, prepared in consultation with appropriate
    departments of the State of Arizona;
        (9) cave resources management strategies prepared in compliance
    with the goals and objectives of the Federal Cave Resources
    Protection Act of 1988 (16 U.S.C. 4301 et seq.); and
        (10) provisions designed to ensure that if a road or trail
    located on public lands within the Conservation Area, or any
    portion of such a road or trail, is removed, consideration shall be
    given to providing similar alternative access to the portion of the
    Conservation Area serviced by such removed road or trail.
    (c) Cooperative Agreements.--In order to better implement the
management plan, the Secretary may enter into cooperative agreements
with appropriate Federal, State, and local agencies pursuant to section
307(b) of the Federal Land Policy and Management Act of 1976 (43 U.S.C.
1737(b)).
    (d) Research Activities.--In order to assist in the development and
implementation of the management plan, the Secretary may authorize
appropriate research, including research concerning the environmental,
biological, hydrological, cultural, agricultural, recreational, and
other characteristics, resources, and values of the Conservation Area,
pursuant to section 307(a) of the Federal Land Policy and Management
Act of 1976 (43 U.S.C. 1737(a)).

SEC. 7. LAND ACQUISITION.

    (a) In General.--
        (1) Priority to conservation easements.--In acquiring lands or
    interest in lands under this section, the Secretary shall give
    priority to such acquisitions in the form of conservation
    easements.
        (2) Private lands.--The Secretary is authorized to acquire
    privately held lands or interest in lands within the boundaries of
    the Acquisition Planning District only from a willing seller
    through donation, exchange, or purchase.
        (3) County lands.--The Secretary is authorized to acquire
    county lands or interest in lands within the boundaries of the
    Acquisition Planning District only with the consent of the county
    through donation, exchange, or purchase.
        (4) State lands.--
            (A) In general.--The Secretary is authorized to acquire
        lands or interest in lands owned by the State of Arizona
        located within the boundaries of the Acquisition Planning
        District only with the consent of the State and in accordance
        with State law, by donation, exchange, or purchase.
            (B) Consideration.--As consideration for the acquisitions
        by the United States of lands or interest in lands under this
        paragraph, the Secretary shall pay fair market value for such
        lands or shall convey to the State of Arizona all or some
        interest in Federal lands (including buildings and other
        improvements on such lands or other Federal property other than
        real property) or any other asset of equal value within the
        State of Arizona.
            (C) Transfer of jurisdiction.--All Federal agencies are
        authorized to transfer jurisdiction of Federal lands or
        interest in lands (including buildings and other improvements
        on such lands or other Federal property other than real
        property) or any other asset within the State of Arizona to the
        Bureau of Land Management for the purpose of acquiring lands or
        interest in lands as provided for in this paragraph.
    (b) Management of Acquired Lands.--Lands acquired under this
section shall, upon acquisition, become part of the Conservation Area
and shall be administered as part of the Conservation Area. These lands
shall be managed in accordance with this Act, other applicable laws,
and the management plan.

SEC. 8. REPORTS TO CONGRESS.

    (a) Protection of Certain Lands.--Not later than 2 years after the
date of the enactment of this Act, the Secretary shall submit to
Congress a report describing the most effective measures to protect the
lands north of the Acquisition Planning District within the Rincon
Valley, Colossal Cave area, and Agua Verde Creek corridor north of
Interstate 10 to provide an ecological link to Saguaro National Park
and the Rincon Mountains and contribute to local government
conservation priorities.
    (b) Implementation of This Act.--Not later than 5 years after the
date of the enactment of this Act, and at least at the end of every 10-
year period thereafter, the Secretary shall submit to Congress a report
describing the implementation of this Act, the condition of the
resources and values of the Conservation Area, and the progress of the
Secretary in achieving the purposes for which the Conservation Area is
established as set forth in section 4(a).

                               Speaker of the House of Representatives.

                            Vice President of the United States and
                                               President of the Senate.

Output:
Directs the Secretary to develop and begin to implement a comprehensive management plan for the long-term management of the Area. Authorizes the Secretary to acquire for the Area surrounding lands within the District owned by private individuals, local counties, or the State of Arizona.
Requires the Secretary to report to Congress: (1) describing the most effective measures for the protection of certain lands north of the District; and (2) five years after the enactment of this Act, and at least every ten years thereafter, on the implementation of this Act.


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SECTION 1. SHORT TITLE.

    This Act may be cited as the ``State Fiscal Relief Act of 2004''.

SEC. 2. EXTENSION OF TEMPORARY STATE FISCAL RELIEF.

    (a) Extension of Temporary Freeze of Medicaid FMAP for Certain
States.--Section 401(a) of the Jobs and Growth Tax Relief
Reconciliation Act of 2003 (42 U.S.C. 1396d note) is amended--
            (1) in the subsection heading, by striking
        ``$10,000,000,000 for a'';
            (2) in paragraph (2)--
                    (A) in the paragraph heading, by striking ``first 3
                quarters of''; and
                    (B) by striking ``the first, second, and third
                calendar quarters'' and inserting ``each calendar
                quarter'';
            (3) by redesignating paragraphs (3) through (9) as
        paragraphs (4) through (10), respectively; and
            (4) by inserting after paragraph (2), the following:
            ``(3) Permitting maintenance of fiscal year 2004 fmap for
        fiscal year 2005.--Subject to paragraph (6), if the FMAP
        determined without regard to this subsection for a State for
        fiscal year 2005 is less than the FMAP as so determined for
        fiscal year 2004, the FMAP for the State for fiscal year 2004
        shall be substituted for the State's FMAP for each calendar
        quarter of fiscal year 2005, before the application of this
        subsection.''.
    (b) Temporary Increase in Medicaid FMAP for All States.--Section
401(a) of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (42
U.S.C. 1396d note), as amended by subsection (a), is amended by
striking paragraphs (4) and (5) (as redesignated by subsection (a)(3))
and inserting the following:
            ``(4) Temporary increase in medicaid fmap.--
                    ``(A) General 2.95 percentage points increase for
                last 2 calendar quarters of fiscal year 2003 and first
                3 calendar quarters of fiscal year 2004.--Subject to
                paragraphs (6), (7), and (8), for each State for the
                third and fourth calendar quarters of fiscal year 2003
                and for the first, second, and third calendar quarters
                of fiscal year 2004, the FMAP (taking into account the
                application of paragraphs (1), (2), and (3)) shall be
                increased by 2.95 percentage points.
                    ``(B) General 1.26 percentage points increase for
                last calendar quarter of fiscal year 2004 and each
                calendar quarter of fiscal year 2005.--Subject to
                paragraphs (6), (7), and (8), for each State for the
                fourth calendar quarter of fiscal year 2004 and each
                calendar quarter of fiscal year 2005, the FMAP (taking
                into account the application of paragraphs (1), (2),
                and (3) but without regard to the application of
                subparagraph (A)) shall be increased by 1.26 percentage
                points.
            ``(5) Increase in cap on medicaid payments to
        territories.--
                    ``(A) Last 2 calendar quarters of fiscal year 2003
                and first 3 calendar quarters of fiscal year 2004.--
                Subject to paragraphs (7) and (8), with respect to the
                third and fourth calendar quarters of fiscal year 2003
                and the first, second, and third calendar quarters of
                fiscal year 2004, the amounts otherwise determined for
                Puerto Rico, the Virgin Islands, Guam, the Northern
                Mariana Islands, and American Samoa under subsections
(f) and (g) of section 1108 of the Social Security Act (42 U.S.C. 1308)
shall each be increased by an amount equal to 5.90 percent of such
amounts.
                    ``(B) Last calendar quarter of fiscal year 2004 and
                each calendar quarter of fiscal year 2005.--Subject to
                paragraphs (7) and (8), with respect to the fourth
                calendar quarter of fiscal year 2004 and each calendar
                quarter of fiscal year 2005, the amounts otherwise
                determined for Puerto Rico, the Virgin Islands, Guam,
                the Northern Mariana Islands, and American Samoa under
                subsections (f) and (g) of section 1108 of the Social
                Security Act (42 U.S.C. 1308) shall each be increased
                by an amount equal to 2.52 percent of such amounts.''.
    (c) Conforming Amendments.--Section 401(a) of the Jobs and Growth
Tax Relief Reconciliation Act of 2003 (42 U.S.C. 1396d note), as
amended by subsections (a) and (b), is amended--
            (1) in paragraph (1), by striking ``paragraph (5)'' and
        inserting ``paragraph (6)'';
            (2) in paragraph (2), by striking ``paragraph (5)'' and
        inserting ``paragraph (6)'';
            (3) in paragraph (7) (as redesignated by subsection
        (a)(3))--
                    (A) by striking ``paragraph (4)'' each place it
                appears and inserting ``paragraph (5)''; and
                    (B) by striking ``paragraph (3)'' each place it
                appears and inserting ``paragraph (4)'';
            (4) in paragraph (8) (as so redesignated), by striking
        ``the first, second and third calendar quarters of fiscal year
        2004'' and inserting ``each calendar quarter of fiscal year
        2004 and fiscal year 2005''; and
            (5) in paragraph (10) (as so redesignated), by striking
        ``October 1, 2004'' and inserting ``January 1, 2005''.

SEC. 3. TRANSITIONAL FUND TO IMPLEMENT THE MEDICARE PRESCRIPTION DRUG,
              IMPROVEMENT, AND MODERNIZATION ACT OF 2003.

    Section 1931(h) of the Social Security Act (42 U.S.C. 1396u-1(h))
is amended--
            (1) in paragraph (1)--
                    (A) by striking ``described in paragraph (2)'' and
                inserting ``described in--
                    ``(A) paragraph (2)(A)'';
                    (B) by striking the period and inserting ``; and'';
                and
                    (C) by adding at the end the following:
                    ``(B) paragraph (2)(B) the per centum specified in
                section 1903(a)(7) shall be increased to such
                percentage as the Secretary specifies, except that the
                percentage shall not be less than the percentage
                applied by the Secretary to the payments made for
                administrative expenditures described in subparagraph
                (A) before the date of enactment of this
                subparagraph.'';
            (2) in paragraph (2), by striking ``that (but for the
        enactment of this section) would not be incurred.'' and
        inserting ``that--
                    ``(A) but for the enactment of this section would
                not be incurred; or
                    ``(B) but for the enactment of the Medicare,
                Prescription Drug, Improvement, and Modernization Act
                of 2003 and the amendments made by that Act would not
                be incurred.''; and
            (3) by striking paragraph (3) and inserting the following:
            ``(3) Limitations.--
                    ``(A) Welfare reform attributable expenditures.--
                The total amount of additional Federal funds that are
                expended as a result of the application of this
                subsection with respect to administrative expenditures
                described in paragraph (2)(A) for the period beginning
                with fiscal year 1997 shall not exceed $500,000,000. In
                applying this subparagraph, the Secretary shall ensure
                the equitable distribution of additional funds among
                the States.
                    ``(B) MMA attributable expenditures.--The total
                amount of additional Federal funds that are expended as
                a result of the application of this subsection with
                respect to administrative expenditures described in
                paragraph (2)(B) for the period beginning on October 1,
                2004, and ending on the later of April 1, 2006, or the
                end of the first fiscal year quarter that begins on or
                after the date on which benefits are first provided
                under the voluntary prescription drug benefit program
                under part D of title XVIII (other than under the
                program under subpart 4 of part D of title XVIII),
                shall not exceed $1,200,000,000. In applying this
                subparagraph, the Secretary shall ensure the equitable
                distribution of additional funds among the States,
                taking into account the following:
                            ``(i) The percentage of individuals who
                        reside in a State who are eligible for medicare
                        cost-sharing under clause (i), (iii), or (iv)
                        of section 1902(a)(10)(E).
                            ``(ii) The number of full-benefit dual
                        eligible individuals (as defined in section
                        1935(c)(6)) who reside in a State.''.

Output:
State Fiscal Relief Act of 2004 - Amends the Jobs and Growth Tax Relief Reconciliation Act of 2003 to extend the temporary freeze of the Federal medical assistance percentage (FMAP) under title XIX (Medicaid) of the Social Security Act (SSA) for certain States (continuing the FY 2003 FMAP through each calendar quarter of FY 2004, and the FY 2004 FMAP for each calendar quarter of FY 2005 if the FY 2005 FMAP would otherwise be less than the FY 2004 FMAP).

Amends the Jobs and Growth Tax Relief Reconciliation Act of 2003 to increase the FMAP: (1) by 2.95 percentage points for the last two calendar quarters of FY 2003 and the first three calendar quarters of FY 2004; and (2) by 1.26 percentage points for the last calendar quarter of FY 2004 and each calendar quarter of FY 2005.

Increases by 5.9 percent the ceiling on Medicaid payments to specified territories for the last two calendar quarters of FY 2003 and the first three calendar quarters of FY 2004. Increases such ceiling by 2.52 percent for the last calendar quarter of FY 2004 and each calendar quarter of FY 2005.

Amends SSA title XIX, with respect to the transitional increased Federal matching rate for increased administrative costs, to require a specified minimum increase for administrative expenditures that would not be incurred but for enactment of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003. Sets $1.2 billion as the cap on the total amount of additional Federal funds expended as a result of this Act with respect to such administrative expenditures between October 1, 2004, and the later of either: (1) April 1, 2006; or (2) the end of the first fiscal year quarter that begins on or after the date on which benefits are first provided under the voluntary prescription drug benefit program under SSA title XVIII (Medicare) part D.


Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Federal Reserve Accountability Act
of 2009''.

SEC. 2. REVIEWS OF SPECIAL FEDERAL RESERVE CREDIT FACILITIES.

    (a) Reviews.--Section 714 of title 31, United States Code, is
amended by adding at the end the following:
    ``(f) Reviews of Credit Facilities of the Federal Reserve System.--
            ``(1) Definition.--In this subsection, the term `credit
        facilities' means--
                    ``(A) the Money Market Investor Funding Facility;
                    ``(B) the Asset-Backed Commercial Paper Money
                Market Mutual Fund Liquidity Facility;
                    ``(C) the Term Asset-Backed Securities Loan
                Facility;
                    ``(D) the Primary Dealer Credit Facility;
                    ``(E) the Commercial Paper Funding Facility;
                    ``(F) any other credit facility approved by the
                Board under the 3rd undesignated paragraph of section
                13 of the Federal Reserve Act (12 U.S.C. 343), other
                than a credit facility that is subject to the
                requirements of subsection (e); and
                    ``(G) any special purpose vehicle through which any
                activity described in subparagraphs (A) through (F) is
                conducted.
            ``(2) In general.--Subject to paragraph (3), and
        notwithstanding any limitation in subsection (b) on the
        auditing and oversight of certain functions of the Board or any
        Federal Reserve bank, the Comptroller General may conduct
        reviews, including onsite examinations, if the Comptroller
        General determines that such examinations are appropriate, of
        the accounting, financial reporting, and internal controls of
        credit facilities established by the Board or any Federal
        Reserve bank, including when such activities are carried out by
        or on behalf of the Board or any official of a Federal Reserve
        bank.
            ``(3) Reports and delayed disclosure.--
                    ``(A) Reports required.--A report on each review
                conducted under paragraph (2) shall be submitted by the
                Comptroller General to the Congress before the end of
                the 90-day period beginning on the date on which such
                review is completed.
                    ``(B) Contents.--The report under subparagraph (A)
                shall include a detailed description of the findings
                and conclusions of the Comptroller General with respect
                to the review that is the subject of the report,
                together with such recommendations for legislative or
                administrative action as the Comptroller General may
                determine to be appropriate.
                    ``(C) Delayed release of certain information.--
                            ``(i) In general.--The Comptroller General
                        shall not disclose to any person or entity,
                        including to the Congress, the names or
                        identifying details of specific participants in
                        any of the audited facilities or identifying
                        details regarding assets or collateral held by,
                        under, or in connection with any of the audited
                        facilities, and any report provided under
                        subparagraph (A) shall be redacted to ensure
                        that such details are not disclosed.
                            ``(ii) Delayed release.--The nondisclosure
                        obligation under clause (i) shall expire, and
                        the Comptroller General shall release a
                        nonredacted version of any reports on specific
                        credit facilities, 1 year after the termination
                        of the relevant credit facility.''.
    (b) Access to Records.--Section 714(d) of title 31, United States
Code (as amended by section 801 of Public Law 111-22), is amended--
            (1) in paragraph (2), by inserting ``or any single and
        specific partnership or corporation (as specified in subsection
        (e)) or any facility established by an agency (as specified in
        subsection (f))'' after ``used by an agency'';
            (2) in paragraph (3), by inserting ``or (f)'' after
        ``subsection (e)'' each place that term appears; and
            (3) in paragraph (3)(B), by adding at the end the
        following: ``The Comptroller General may make and retain copies
        of books, accounts, and other records provided under
        subparagraph (A) as the Comptroller General deems appropriate.
        The Comptroller General shall have access to the officers,
        employees, contractors, and other agents and representatives of
        any single and specific partnership or corporation (as
        specified in subsection (e)) or any credit facility established
        by an agency (as specified in subsection (f)) at any reasonable
        time, as the Comptroller General may request. The Comptroller
        General shall provide to any such partnership, corporation, or
        credit facility a current list of officers and employees to
        whom, with proper identification, records and property may be
        made available, and who may make notes or copies necessary to
        carry out a review or examination under this subsection.''.

SEC. 3. PUBLIC ACCESS TO INFORMATION.

    (a) In General.--The Board shall place on its home Internet website
a link entitled ``Audit'', which shall link to a webpage that shall
serve as a repository of information made available to the public for a
reasonable period of time, not less than 6 months following the date of
release of the relevant information, including--
            (1) the reports prepared by the Comptroller General under
        section 714 of title 31, United States Code;
            (2) the annual financial statements prepared by an
        independent auditor for the Board of Governors of the Federal
        Reserve System (in this section referred to as the ``Board'')
        in accordance with section 11B of the Federal Reserve Act (12
        U.S.C. 248b); and
            (3) such other information as the Board reasonably believes
        is necessary or helpful to the public in understanding the
        accounting, financial reporting, and internal controls of the
        Board and the Federal Reserve banks.

Output:
Federal Reserve Accountability Act of 2009 - Authorizes the Comptroller General to conduct reviews of (including onsite examinations), and report to Congress on, the accounting, financial reporting, and internal controls of credit facilities established by the Board of Governors of the Federal Reserve System, or any Federal Reserve bank, including when such activities are implemented by or on behalf of the Board or any official of a Federal Reserve bank.

Defines "credit facilities" as: (1) the Money Market Investor Funding Facility; (2) the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility; (3) the Term Asset-Backed Securities Loan Facility; (4) the Primary Dealer Credit Facility; (5) the Commercial Paper Funding Facility; and (6) certain other credit facilities approved by the Board, as well as any special purpose vehicle through which any activity of such facilities is conducted.

Requires the Board to place on its home Internet website a link entitled "Audit" to a webpage that serves as a repository of public information for not less than six months following the release of the relevant information, including: (1) the reports prepared pursuant to this Act; (2) the annual financial statements prepared by an independent auditor for the Board; and (3) any other information the Board believes is necessary or helpful to the public in understanding its accounting, financial reporting, and internal controls as well as those of the Federal Reserve banks.


Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``United States Capitol Fire
Protection Act of 2000''.

SEC. 2. FINDINGS; PURPOSE.

    (a) Findings.--Congress finds that--
            (1) although progress has been made in recent years, the
        Capitol, House and Senate Office Buildings, and Library of
        Congress still do not provide staff and visitors with the fire
        safety and protection they deserve;
            (2) the Architect of the Capitol must place great emphasis
        on the need to ensure that these and other properties
        administered by the Architect, and individuals who visit or
        work in these properties, enjoy the maximum protection that
        modern technology and human diligence can provide against fire
        and related threats to life and property; and
            (3) properties and structures of the United States Capitol
        Complex are of historical and architectural significance and
        are an essential public and national resource, and it is
        essential that they be preserved and rehabilitated in such a
        manner as to retain their historical and architectural
        significance.
    (b) Purpose.--It is the purpose of this Act to establish the
position of the Director of Fire Safety and Protection to assist the
Architect of the Capitol in meeting the Architect's responsibilities
for fire safety and protection so that the properties of the United
States Capitol Complex will be protected from fire and serve as a safe
environment for those who work or visit there.

SEC. 3. ESTABLISHMENT OF POSITION OF DIRECTOR OF FIRE SAFETY AND
              PROTECTION.

    (a) Establishment.--There is hereby established in the Office of
the Architect of the Capitol the position of Director of Fire Safety
and Protection.
    (b) Appointment; Compensation.--
            (1) Appointment.--The Director of Fire Safety and
        Protection shall be appointed by the Architect of the Capitol
        from among individuals with the knowledge, skills, and
        abilities necessary to carry out the duties described in this
        Act.
            (2) Compensation.--The Architect of the Capitol shall fix
        the rate of basic pay and benefits for the Director of Fire
        Safety and Protection at such rate as the Architect considers
        appropriate, except that such rate may not be less than the
        rate of pay and benefits for the Director of Engineering under
        the Architect of the Capitol.
    (c) Duties.--
            (1) In general.--Working under the direction and control of
        the Architect of the Capitol and reporting directly to the
        Architect, the Director of Fire Safety and Protection shall--
                    (A) be responsible for all fire safety and
                protection activities of the Architect of the Capitol;
                    (B) ensure that Architect properties meet the
                applicable codes and standards established by the
                National Fire Protection Association, except that the
                Architect may modify the application of such codes to
                the properties to take into account the historic and
                architecturally significant features of such properties
                so long as a reasonable degree of safety and protection
                is maintained; and
                    (C) carry out the duties specified in paragraph
                (2).
            (2) Duties specified.--The duties specified in this
        paragraph are as follows:
                    (A) The routine periodic testing and maintenance of
                all fire alarm, fire suppression, and fire protection
                systems in all Architect properties.
                    (B) The conduct of comprehensive inspections and
                risk assessments on a regular basis (but not less
                frequently than once each year) of all Architect
properties to identify conditions which constitute fire hazards and to
develop plans for the prompt abatement of such conditions, in
accordance with the requirements specified in paragraph (1)(B).
                    (C) The development and implementation of programs
                to train employees of the Architect of the Capitol and
                others in the proper use and maintenance of fire alarm,
                fire suppression, and fire protection systems and in
                the proper use and storage of hazardous chemicals and
                materials.
                    (D) The identification of structural changes and
                repairs which may be necessary to assure maximum fire
                protection and safety in Architect properties, and the
                development of comprehensive plans to carry out such
                changes.
                    (E) The preparation of semi-annual reports on the
                efforts made by the Director to carry out the duties
                required under this subsection.
                    (F) Consultation with experts in fire safety and
                protection regarding the modification of codes and
                standards carried out pursuant to paragraph (1)(B) and
                such other matters relating to the Director's duties as
                the Director considers appropriate.
                    (G) Such other steps as may be reasonably necessary
                to protect Architect properties from fire and provide a
                safe environment for employees and visitors.

SEC. 4. RESPONSIBILITIES OF ARCHITECT.

    (a) In General.--The Architect of the Capitol shall provide the
Director of Fire Safety and Protection with such staff and other
resources as the Director may reasonably require to carry out duties
under this Act, except that the Architect of the Capitol shall assign
not fewer than 12 full-time-equivalent employees to the Director for
carrying out such duties.
    (b) Budget Request.--Beginning with fiscal year 2002, the Architect
of the Capitol shall include in the budget request for the Architect
for a fiscal year a separate statement of the total amount to be used
to carry out the duties of the Director of Fire Safety and Protection
in the fiscal year.
    (c) Submission of Reports.--The Architect shall submit to the
Committees on Appropriations of the House of Representatives and
Senate, the Committee on House Administration of the House of
Representatives, the Committee on Transportation and Infrastructure of
the House of Representatives, and the Committee on Rules and
Administration of the Senate the semi-annual reports prepared by the
Director of Fire Safety and Protection under section 3(c)(2)(E).

SEC. 5. ARCHITECT PROPERTIES DEFINED.

    In this Act, the term ``Architect properties'' means any properties
under the jurisdiction of the Architect of the Capitol, including the
Capitol, House and Senate Office Buildings, the Library of Congress,
the United States Botanic Garden, and the Capitol Power Plant.

Output: Directs the Architect of the Capitol to assign at least 12 full-time employees to the Director.


Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Mutual Fund Transparency Act of
2005''.

SEC. 2. DISCLOSURE OF FINANCIAL RELATIONSHIPS BETWEEN BROKERS AND
              MUTUAL FUND COMPANIES.

    (a) In General.--Section 15(b) of the Securities Exchange Act of
1934 (15 U.S.C. 78o(b)) is amended by adding at the end the following:
            ``(13) Confirmation of transactions for mutual funds.--
                    ``(A) In general.--Each broker shall disclose in
                writing to customers that purchase the shares of an
                open-end company registered under section 8 of the
                Investment Company Act of 1940 (15 U.S.C. 80a-8)--
                            ``(i) the amount of any compensation
                        received or to be received by the broker in
                        connection with such transaction from any
                        sources; and
                            ``(ii) such other information as the
                        Commission determines appropriate.
                    ``(B) Revenue sharing.--The term `compensation'
                under subparagraph (A) shall include any direct or
                indirect payment made by an investment adviser (or any
                affiliate of an investment adviser) to a broker or
                dealer for the purpose of promoting the sales of
                securities of an open-end company.
                    ``(C) Timing of disclosure.--The disclosure
                required under subparagraph (A) shall be made to a
                customer not later than as of the date of the
                completion of the transaction.
                    ``(D) Limitation.--The disclosures required under
                subparagraph (A) may not be made exclusively in--
                            ``(i) a registration statement or
                        prospectus of an open-end company; or
                            ``(ii) any other filing of an open-end
                        company with the Commission.
                    ``(E) Commission authority.--
                            ``(i) In general.--The Commission shall
                        promulgate such final rules as are necessary to
                        carry out this paragraph not later than 1 year
                        after the date of enactment of the Mutual Fund
                        Transparency Act of 2005.
                            ``(ii) Form of disclosure.--Disclosures
                        under this paragraph shall be in such form as
                        the Commission, by rule, shall require.
                    ``(F) Definition.--In this paragraph, the term
                `open-end company' has the same meaning as in section 5
                of the Investment Company Act of 1940 (15 U.S.C. 80a-
                5).''.
    (b) Disclosure of Brokerage Commissions.--Section 30 of the
Investment Company Act of 1940 (15 U.S.C. 80a-29) is amended by adding
at the end the following:
    ``(k) Disclosure of Brokerage Commissions.--The Commission, by
rule, shall require that brokerage commissions as an aggregate dollar
amount and percentage of assets paid by an open-end company be included
in any disclosure of the amount of fees and expenses that may be
payable by the holder of the securities of such company for purposes
of--
            ``(1) the registration statement of that open-end company;
        and
            ``(2) any other filing of that open-end company with the
        Commission, including the calculation of expense ratios.''.

SEC. 3. MUTUAL FUND GOVERNANCE.

    (a) Independent Fund Boards.--Section 10(a) of the Investment
Company Act of 1940 (15 U.S.C. 80a-10(a)) is amended--
            (1) by striking ``shall have'' and inserting the following:
        ``shall--
            ``(1) have'';
            (2) by striking ``60 per centum'' and inserting ``25
        percent'';
            (3) by striking the period at the end and inserting a
        semicolon; and
            (4) by adding at the end the following:
            ``(2) have as chairman of its board of directors an
        interested person of such registered company; or
            ``(3) have as a member of its board of directors any person
        that is an interested person of such registered investment
        company--
                    ``(A) who has served without being approved or
                elected by the shareholders of such registered
                investment company at least once every 5 years; and
                    ``(B) unless such director has been found, on an
                annual basis, by a majority of the directors who are
                not interested persons, after reasonable inquiry by
                such directors, not to have any material business or
                familial relationship with the registered investment
                company, a significant service provider to the company,
                or any entity controlling, controlled by, or under
                common control with such service provider, that is
                likely to impair the independence of the director.''.
    (b) Action by Independent Directors.--Section 10 of the Investment
Company Act of 1940 (15 U.S.C. 80a-10) is amended by adding at the end
the following:
    ``(i) Action by Board of Directors.--No action taken by the board
of directors of a registered investment company may require the vote of
a director who is an interested person of such registered investment
company.
    ``(j) Independent Committee.--
            ``(1) In general.--The members of the board of directors of
        a registered investment company who are not interested persons
        of such registered investment company shall establish a
        committee comprised solely of such members, which committee
        shall be responsible for--
                    ``(A) selecting persons to be nominated for
                election to the board of directors; and
                    ``(B) adopting qualification standards for the
                nomination of directors.
            ``(2) Disclosure.--The standards developed under paragraph
        (1)(B) shall be disclosed in the registration statement of the
        registered investment company.''.
    (c) Definition of Interested Person.--Section 2(a)(19) of the
Investment Company Act of 1940 (15 U.S.C. 80a-2) is amended--
            (1) in subparagraph (A)--
                    (A) in clause (iv), by striking ``two'' and
                inserting ``5''; and
                    (B) by striking clause (vii) and inserting the
                following:
                            ``(vii) any natural person who has served
                        as an officer or director, or as an employee
                        within the preceding 10 fiscal years, of an
                        investment adviser or principal underwriter to
                        such registered investment company, or of any
                        entity controlling, controlled by, or under
                        common control with such investment adviser or
                        principal underwriter;
                            ``(viii) any natural person who has served
                        as an officer or director, or as an employee
                        within the preceding 10 fiscal years, of any
                        entity that has within the preceding 5 fiscal
                        years acted as a significant service provider
                        to such registered investment company, or of
                        any entity controlling, controlled by, or under
                        the common control with such service provider;
                            ``(ix) any natural person who is a member
                        of a class of persons that the Commission, by
                        rule or regulation, determines is unlikely to
                        exercise an appropriate degree of independence
                        as a result of--
                                    ``(I) a material business
                                relationship with the investment
                                company or an affiliated person of such
                                investment company;
                                    ``(II) a close familial
                                relationship with any natural person
                                who is an affiliated person of such
                                investment company; or
                                    ``(III) any other reason determined
                                by the Commission.'';
            (2) in subparagraph (B)--
                    (A) in clause (iv), by striking ``two'' and
                inserting ``5''; and
                    (B) by striking clause (vii) and inserting the
                following:
                            ``(vii) any natural person who is a member
                        of a class of persons that the Commission, by
                        rule or regulation, determines is unlikely to
                        exercise an appropriate degree of independence
                        as a result of--
                                    ``(I) a material business
                                relationship with such investment
                                adviser or principal underwriter or
                                affiliated person of such investment
                                adviser or principal underwriter;
                                    ``(II) a close familial
                                relationship with any natural person
                                who is an affiliated person of such
                                investment adviser or principal
                                underwriter; or
                                    ``(III) any other reason as
                                determined by the Commission:''.
    (d) Definition of Significant Service Provider.--Section 2(a) of
the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)) is amended by
adding at the end the following:
            ``(53) Significant service provider.--
                    ``(A) In general.--Not later than 270 days after
                the date of enactment of the Mutual Fund Transparency
                Act of 2005, the Securities and Exchange Commission
                shall issue final rules defining the term `significant
                service provider'.
                    ``(B) Requirements.--The definition developed under
                paragraph (1) shall include, at a minimum, the
                investment adviser and principal underwriter of a
                registered investment company for purposes of paragraph
                (19).''.

SEC. 4. FINANCIAL LITERACY AMONG MUTUAL FUND INVESTORS STUDY.

    (a) In General.--The Securities and Exchange Commission shall
conduct a study to identify--
            (1) the existing level of financial literacy among
        investors that purchase shares of open-end companies, as that
        term is defined under section 5 of the Investment Company Act
        of 1940, that are registered under section 8 of that Act;
            (2) the most useful and understandable relevant information
        that investors need to make sound financial decisions prior to
        purchasing such shares;
            (3) methods to increase the transparency of expenses and
        potential conflicts of interest in transactions involving the
        shares of open-end companies;
            (4) the existing private and public efforts to educate
        investors; and
            (5) a strategy to increase the financial literacy of
        investors that results in a positive change in investor
        behavior.
    (b) Report.--Not later than 1 year after the date of enactment of
this Act, the Securities and Exchange Commission shall submit a report
on the study required under subsection (a) to--
            (1) the Committee on Banking, Housing, and Urban Affairs of
        the Senate; and
            (2) the Committee on Financial Services of the House of
        Representatives.

SEC. 5. STUDY REGARDING MUTUAL FUND ADVERTISING.

    (a) In General.--The Comptroller General of the United States shall
conduct a study on mutual fund advertising to identify--
            (1) existing and proposed regulatory requirements for open-
        end investment company advertisements;
            (2) current marketing practices for the sale of open-end
        investment company shares, including the use of unsustainable
        past performance data, funds that have merged, and incubator
        funds;
            (3) the impact of such advertising on consumers; and
            (4) recommendations to improve investor protections in
        mutual fund advertising and additional information necessary to
        ensure that investors can make informed financial decisions
        when purchasing shares.
    (b) Report.--Not later than 1 year after the date of enactment of
this Act, the Comptroller General of the United States shall submit a
report on the results of the study conducted under subsection (a) to--
            (1) the Committee on Banking, Housing, and Urban Affairs of
        the United States Senate; and
            (2) the Committee on Financial Services of the House of
        Representatives.

SEC. 6. POINT-OF-SALE DISCLOSURE.

    (a) In General.--Section 15(b) of the Securities Exchange Act of
1934 (15 U.S.C. 78o(b)), as amended by section 2, is amended by adding
at the end the following:
            ``(14) Broker disclosures in mutual fund transactions.--
                    ``(A) In general.--Each broker shall disclose in
                writing to each person that purchases the shares of an
                investment company registered under section 8 of the
                Investment Company Act of 1940 (15 U.S.C. 80a-8)--
                            ``(i) the source and amount, in dollars and
                        as a percentage of assets, of any compensation
                        received or to be received by the broker in
                        connection with such transaction from any
                        sources;
                            ``(ii) the amount, in dollars and as a
                        percentage of assets, of compensation received
                        in connection with transactions in shares of
                        other investment company shares offered by the
                        broker, if materially different from the amount
                        under (i);
                            ``(iii) comparative information that shows
                        the average amount received by brokers in
                        connection with comparable transactions, as
                        determined by the Commission; and
                            ``(iv) such other information as the
                        Commission determines appropriate.
                    ``(B) Revenue sharing.--The term `compensation'
                under subparagraph (A) shall include any direct or
                indirect payment made by an investment adviser (or any
                affiliate of an investment adviser) to a broker or
                dealer for the purpose of promoting the sales of
                securities of a registered investment company.
                    ``(C) Timing of disclosure.--The disclosures
                required under subparagraph (A) shall be made to permit
                the person purchasing the shares to evaluate such
                disclosures before deciding to engage in the
                transaction.
                    ``(D) Limitation.--The disclosures required under
                subparagraph (A) may not be made exclusively in--
                            ``(i) a registration statement or
                        prospectus of a registered investment company;
                        or
                            ``(ii) any other filing of a registered
                        investment company with the Commission.
                    ``(E) Commission authority.--The Commission shall
                promulgate such final rules as are necessary to carry
                out this paragraph not later than 1 year after the date
                of enactment of the Mutual Fund Transparency Act of
                2005.''.
    (b) National Securities Association Requirements.--Section 15A of
the Securities Exchange Act of 1934 (15 U.S.C. 78o-3) is amended by
adding at the end the following:
    ``(n) National Securities Association Requirements.--Each national
securities association registered pursuant to this section shall issue
such rules as necessary not later than 1 year after the date of
enactment of the Mutual Fund Transparency Act of 2005 to require that a
broker that provides individualized investment advice to a person
shall--
            ``(1) have a fiduciary duty to that person;
            ``(2) act solely in the best interests of that person; and
            ``(3) fully disclose all potential conflicts of interest
        and other information that is material to the relationship to
        that person prior to the time that the investment advice is
        first provided to the person and at least annually
        thereafter.''.

Output:
Mutual Fund Transparency Act of 2005 - Amends the Securities Exchange Act of 1934 to require broker disclosure in writing to open-end company (mutual fund) purchasers of the amount of any compensation due the broker in connection with the purchase transaction from any sources.

Amends the Investment Company Act of 1940 to direct the Securities and Exchange Commission (SEC) to require that brokerage commissions as an aggregate dollar amount and percentage of assets paid by a mutual fund company be included in any disclosure of the fees and expenses that may be payable by the holder of the securities of such company.

Revamps independent mutual fund board of directors membership to reduce from 60 percent to 25 percent the permissible number of interested persons serving on the board. Prohibits an interested person from being board chairman. Specifies conditions an interested person must meet to service as a board member.

Directs the SEC to issue final rules defining an interested person who is a "significant service provider," including the investment adviser and principal underwriter of a registered investment company.

Requires the SEC to study and report to Congress on: (1) financial literacy among mutual fund investors; and (2) mutual fund advertising.

Amends the Securities Exchange Act of 1934 to require broker disclosure to each purchaser of investment company shares in a mutual fund transaction of the compensation the broker receives, in dollars and as as a percentage of assets.

Requires each national securities association to issue rules requiring a broker that provides individualized investment advice to a person to: (1) have a fiduciary duty to that person; (2) act solely in the best interests of that person; and (3) fully disclose all potential conflicts of interest and other material information before the investment advice is first provided, and at least annually thereafter.


Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Spread Pricing Liquidity Act of
2013''.

SEC. 2. TICK SIZE FOR CERTAIN ISSUERS.

    (a) In General.--Section 11A(c)(6) of the Securities Exchange Act
of 1934 (15 U.S.C. 78k-1(c)(6)) is amended to read as follows:
            ``(6) Tick size for certain issuers.--
                    ``(A) Selection.--
                            ``(i) In general.--The board of directors
                        of an issuer with a public float of
                        $500,000,000 or less (based on a rolling
                        average over the course of the preceding 3-
                        month period) and an average daily trading
                        volume of less than 500,000 shares may select
                        to have the securities of the issuer quoted and
                        traded using an increment of either $0.05 or
                        $0.10.
                            ``(ii) Manner of selection.--A selection
                        under this subparagraph shall be made by
                        informing the Commission and each exchange on
                        which the securities of the issuer are quoted
                        or traded.
                            ``(iii) Limitation on certain issuers.--
                        With respect to the average trading price in
                        the most recent 1-month period for the
                        securities of an issuer--
                                    ``(I) if such average price is less
                                than $1, the issuer may not make the
                                selection under this subparagraph; and
                                    ``(II) if such average price is $1
                                or more, but less than $2, the issuer
                                may only select to have the securities
                                of the issuer quoted and traded using
                                an increment of $0.05.
                            ``(iv) Consultation.--In making a selection
                        under this subparagraph, the board of directors
                        shall first consult with the issuer's primary
                        listing market.
                    ``(B) Trading requirements.--If an issuer has made
                the selection under subparagraph (A)--
                            ``(i) all quotes of the securities of such
                        issuer shall be done using only the increment
                        selected;
                            ``(ii) an exchange on which the securities
                        of such issuer are traded may not charge a fee
                        for a person engaging in such a trade, unless
                        such fee is uniform for all trades and based
                        solely on the number of shares traded; and
                            ``(iii) such selection shall not prevent
                        the securities of the issuer being traded at
                        increments other than the increment selected.
                    ``(C) Right to opt out of selection.--
                            ``(i) In general.--An issuer that has made
                        the selection under subparagraph (A) may choose
                        to opt out of such selection at any time after
                        the 6-month period beginning on the date such
                        selection was made.
                            ``(ii) Manner of opt out.--An issuer that
                        chooses to opt out of the selection under
                        subparagraph (A) shall do so by informing the
                        Commission and each exchange on which the
                        securities of the issuer are quoted or traded.
                            ``(iii) Future selection.--Subject to
                        subparagraph (D), an issuer that opts out of
                        the selection under subparagraph (A) may make
                        the selection under subparagraph (A) again at
                        any time after the 1-year period beginning on
                        the date of the opt out.
                    ``(D) Treatment of issuers surpassing cap.--If the
                public float of an issuer that has made the selection
                under subparagraph (A) rises above $500,000,000 (based
                on a rolling average over the course of a 3-month
                period) or the average daily trading volume of the
                issuer raises above 500,000 then, after the end of the
                3-month period beginning on the date of such
                occurrence--
                            ``(i) the issuer shall no longer be
                        considered to have made the selection under
                        subparagraph (A); and
                            ``(ii) the issuer shall be ineligible to
                        make a selection under subparagraph (A) during
                        the 2-year period beginning after the end of
                        such 3-month period, regardless of the issuer's
                        public float or average daily trading volume.
                    ``(E) Study and report.--
                            ``(i) In general.--Not later than the end
                        of the 9-month period beginning on the date of
                        the enactment of this paragraph, and annually
                        thereafter, the Commission shall carry out a
                        study of the quoting and trading of securities
                        in increments of $0.05 and $0.10 permitted by
                        this paragraph, and the extent to which such a
                        system is increasing liquidity by incentivizing
                        capital commitment, research coverage, and
                        brokerage support.
                            ``(ii) Report to congress.--Upon the
                        completion of each study described under clause
                        (i), the Commission shall issue a report to the
                        Congress containing all of the findings and
                        determinations made in carrying out such study,
                        along with any legislative recommendations the
                        Commission may have.
                    ``(F) Definitions.--For purposes of this paragraph:
                            ``(i) Average daily trading volume.--With
                        respect to a security, the term `average daily
                        trading volume' means the average, over the
                        previous 3-month period, of--
                                    ``(I) the aggregate daily volume
                                for bids made on the security within
                                the price band; and
                                    ``(II) the aggregate daily volume
                                for offers made on the security within
                                the price band.
                            ``(ii) Price band.--With respect to a
                        security, the term `price band' means the range
                        between the price that is 25 cents below the
                        trading price of the security and the price
                        that is 25 cents above the trading price of the
                        security.
                            ``(iii) Public float.--The term `public
                        float' means the amount of equity of an issuer
                        that is held by persons who are not affiliated
                        with the issuer, determined by multiplying the
                        number of shares of such stock by the price of
                        one of such shares.''.
    (b) Effective Date.--
            (1) In general.--Section 11A(c)(6) of the Securities
        Exchange Act of 1934, as amended by subsection (a), shall take
        effect--
                    (A) with respect to an issuer with a public float
                of $100,000,000 or less (based on a rolling average
                over the course of the preceding 3-month period) and an
                average daily trading volume of less than 100,000, on
                the date of the enactment of this Act;
                    (B) with respect to an issuer that is not described
                under subparagraph (A) and that has a public float of
                $250,000,000 or less (based on a rolling average over
                the course of the preceding 3-month period) and an
                average daily trading volume of less than 250,000,
                after the end of the 3-month period beginning on the
                date of the enactment of this Act; and
                    (C) with respect to an issuer that is not described
                under subparagraph (A) or (B) and that has a public
                float of $500,000,000 or less (based on a rolling
                average over the course of the preceding 3-month
                period) and an average daily trading volume of less
                than 500,000, after the end of the 6-month period
                beginning on the date of the enactment of this Act.
            (2) Definitions.--For purposes of this subsection, the
        terms ``average daily trading volume'' and ``public float''
        have the meaning given those terms, respectively, under section
        11A(c)(6)(F) of the Securities Exchange Act of 1934.

Output: Spread Pricing Liquidity Act of 2013 - Amends the Securities Exchange Act of 1934 concerning the national market system for securities to authorize the board of directors of an issuer with a public float of $500 million or less to select to have the issuer's securities quoted and traded using an increment (tick) of either $0.05 or $0.10. Prohibits selection of the $0.05 tick unless the average trading price in the most recent 1-month period for the securities of an issuer is between $1 and $2. Limits the tick selection to $0.05 for the issuer of any such security.   Prescribes trading requirements. Permits a issuer that has made the selection under this Act to choose to opt out at any time after the six-month period beginning on the date the selection was made. States that, if the public float of an issuer that has made such a tick selection rises above $500 million (based on a rolling average over the course of a 3-month period), or its average daily trading volume rises above $500 million, then after the end of the 3-month period beginning on the date of such occurrence the issuer: (1) shall no longer be considered to have made the tick selection; and (2) shall be ineligible to make such a tick selection for 2 years after such 3-month period. Directs the Securities and Exchange Commission (SEC) to study the quoting and trading of securities in increments of $0.05 and $0.10, and the extent to which such system increases liquidity by incentivizing capital commitment, research coverage, and brokerage support.


Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Answer Africa's Call Act''.

SEC. 2. FINDINGS.

    The Congress finds the following:
            (1) African poverty and stagnation are the greatest tragedy
        of our time and demand a forceful response by the United
        States.
            (2) The world, especially the United States, is awash with
        wealth on a scale that has never been seen in human history.
            (3) We live in a world where new medicines and medical
        techniques have eradicated many of the diseases and ailments
        that plagued the rich world.
            (4) In Africa, some 4,000,000 children under the age of
        five die each year, two-thirds of them from illnesses that cost
        very little to treat; malaria is the biggest single killer of
        African children, and half of those deaths could be avoided if
        the parents of these children had access to diagnosis and drugs
        that cost little more than $1 per dose.
            (5) We live in a world where scientists can map the human
        genome and have the technology to clone a human being.
            (6) In Africa, we allow more than 250,000 women die each
        year from complications in pregnancy or childbirth.
            (7) We live in a world where the Internet in the blink of
        an eye can transfer more information than any human brain could
        hold.
            (8) In Africa each day, some 40,000,000 children are not
        able to go to school.
            (9) We live in a world which, faced by one of the most
        devastating diseases ever seen, AIDS, has developed the
        antiretroviral drugs to control its advance.
            (10) In Africa, where 25,000,000 people are infected with
        AIDS, antiretroviral drugs are not made generally available; as
        a result, 2,000,000 people will die of AIDS in 2005.
            (11) We live in a world where rich nations spend as much as
        the entire income of all the people in Africa subsidizing the
        unnecessary production of unwanted food, in an amount of almost
        $1,000,000,000 each day.
            (12) In Africa, hunger is a key factor in more deaths than
        those caused by all of the continent's infectious diseases
        combined.
            (13) We live in a world where every cow in Europe receives
        almost $2 each day in government subsidies.
            (14) In Africa the average daily income is approximately
        $1.
            (15) The contrast between the lives led by those who live
        in rich countries and those of poor people in Africa is the
        greatest scandal of our age.
            (16) One in six children in Africa dies before reaching the
        age of 5.
            (17) Two-thirds of all the African children who die under
        the age of 5 could be saved by low-cost treatments such as
        vitamin A, and a tenth of all the diseases suffered by African
        children are caused by intestinal worms that infect 200,000,000
        people and could be treated for just 25 cents per child.
            (18) More than 300,000,000 Africans--42 percent of Africa's
        population--still do not have access to safe water, and 60
        percent do not have access to basic sanitation.
            (19) 62 percent of all people aged 15-24 years who live
        with HIV are found in Africa.
            (20) Africa had 43,000,000 orphans in 2003, of which AIDS
        was responsible for 12,000,000.
            (21) In Zambia, 71 percent of child prostitutes are
        orphans.

SEC. 3. STATEMENT OF POLICY.

    The Congress supports implementing the recommendations of the
Commission for Africa, which call for rich nations to increase foreign
assistance to Africa, provide debt relief, eliminate trade distorting
agricultural subsidies, and remove insidious trade barriers that impede
economic opportunity in sub-Saharan Africa.

SEC. 4. IMPOSITION OF INDIVIDUAL INCOME TAX SURCHARGE TO FUND
              INTERNATIONAL FINANCE FACILITY.

    (a) Imposition of Tax.--Section 1 of the Internal Revenue Code of
1986 (relating to imposition of tax on individuals) is amended by
adding at the end the following new subsection:
    ``(j) Additional Income Tax.--
            ``(1) In general.--If the adjusted gross income of an
        individual exceeds the threshold amount, the tax imposed by
        this section (determined without regard to this subsection)
        shall be increased by an amount equal to 0.8 percent of so much
        of the adjusted gross income as exceeds the threshold amount.
            ``(2) Threshold amounts.--For purposes of this subsection,
        the term `threshold amount' means--
                    ``(A) $1,000,000 in the case of a joint return, and
                    ``(B) $500,000 in the case of any other return.
            ``(3) Tax not to apply to estates and trusts.--This
        subsection shall not apply to an estate or trust.
            ``(4) Termination.--This subsection shall not apply to
        taxable years beginning after December 31, 2010.''.
    (b) Establishment of United States International Finance Facility
Trust Fund.--
            (1) In general.--Subchapter A of chapter 98 of such Code
        (relating to trust fund code) is amended by adding at the end
        the following:

``SEC. 9511. UNITED STATES INTERNATIONAL FINANCE FACILITY TRUST FUND.

    ``(a) Creation of Trust Fund.--There is established in the Treasury
of the United States a trust fund to be known as the `United States
International Finance Facility Trust Fund' (referred to in this section
as the `Trust Fund'), consisting of such amounts as may be appropriated
or credited to the Trust Fund as provided in this section or section
9602(b).
    ``(b) Transfers to Trust Fund.--There is hereby appropriated to the
Trust Fund an amount equivalent to the increase in revenues received in
the Treasury as the result of the surtax imposed under section 1(j).
    ``(c) Distribution of Amounts in Trust Fund.--Amounts in the Trust
Fund shall be available without further appropriation to make
expenditures in connection with United States commitments to the
International Finance Facility.''.
            (2) Conforming amendment.--The table of sections for
        subchapter A of chapter 98 of such Code is amended by adding at
        the end the following:

``Sec. 9511. United States International Finance Facility Trust
                            Fund.''.
    (c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2005.
    (d) Section 15 not to Apply.--The amendment made by subsection (a)
shall not be treated as a change in a rate of tax for purposes of
section 15 of the Internal Revenue Code of 1986.

SEC. 5. MODIFICATIONS TO PREFERENTIAL TRADE TREATMENT FOR PRODUCTS OF
              SUB-SAHARAN AFRICAN COUNTRIES.

    (a) Removal of Agriculture Tariff-Rate Quota Limitation;
Agricultural Safeguard.--Section 503(b) of the Trade Act of 1974 (19
U.S.C. 2463(b)) is amended by striking paragraph (3) and inserting the
following:
            ``(3) Agricultural products.--
                    ``(A) In general.--No quantity of an agricultural
                product subject to a tariff-rate quota that exceeds the
                in-quota amount shall be eligible for duty-free
                treatment under this title, except as provided in
                subparagraph (B).
                    ``(B) Imports from countries designated under
                section 506a.--Subparagraph (A) shall not apply to
                over-quota imports of agricultural products subject to
                a tariff-rate quota that are the growth, product, or
                manufacture of a country designated as a beneficiary
                sub-Saharan African country under section 506A(a)(1).
            ``(4) Safeguard for agricultural products.--
                    ``(A) In general.--The President shall assess a
                duty, in the amount prescribed under subparagraph (B),
                on over-quota imports of any agricultural product
                described in paragraph (3)(B) for which preferential
                treatment is claimed, if the President determines that
                the unit import price of the product when it enters the
                United States, determined on an F.O.B. basis, is less
                than the annual trigger price determined in accordance
                with subparagraph (D).
                    ``(B) Calculation of additional duties.--The amount
                of the additional duty assessed under this subsection
                shall be determined as follows:
                            ``(i) If the difference between the unit
                        import price and the trigger price is less
                        than, or equal to, 10 percent of the trigger
                        price, no additional duty shall be imposed.
                            ``(ii) If the difference between the unit
                        import price and the trigger price is greater
                        than 10 percent, but less than or equal to 40
                        percent, of the trigger price, the additional
                        duty shall be equal to 30 percent of the
                        difference between the preferential tariff rate
                        and the column 1 general rate of duty imposed
                        under the HTS on like articles at the time the
                        additional duty is imposed.
                            ``(iii) If the difference between the unit
                        import price and the trigger price is greater
                        than 40 percent, but less than or equal to 60
                        percent, of the trigger price, the additional
                        duty shall be equal to 50 percent of the
                        difference between the preferential tariff rate
                        and the column 1 general rate of duty imposed
                        under the HTS on like articles at the time the
                        additional duty is imposed.
                            ``(iv) If the difference between the unit
                        import price and the trigger price is greater
                        than 60 percent, but less than or equal to 75
                        percent, of the trigger price, the additional
                        duty shall be equal to 70 percent of the
                        difference between the preferential tariff rate
                        and the column 1 general rate of duty imposed
                        under the HTS on like articles at the time the
                        additional duty is imposed.
                            ``(v) If the difference between the unit
                        import price and the trigger price is greater
                        than 75 percent of the trigger price, the
                        additional duty shall be equal to 100 percent
                        of the difference between the preferential
                        tariff rate and the column 1 general rate of
                        duty imposed under the HTS on like articles at
                        the time the additional duty is imposed.
                    ``(C) Exceptions.--No additional duty under this
                paragraph shall be assessed on an agricultural product
                if, at the time of entry into the customs territory of
                the United States, the product is subject to import
                relief under chapter 1 of title II of the Trade Act of
                1974 (19 U.S.C. 2251 et seq.).
                    ``(D) Calculation of trigger price.--(i) Not later
                than 60 days after the date of the enactment of the
                Answer Africa's Call Act, and annually thereafter, the
                President shall, in consultation with the Secretary of
                Agriculture, establish the annual trigger price for
                each over-quota agricultural product described in
                paragraph (3)(B), and shall publish such prices in the
                Federal Register. The President shall establish the
                trigger price for a product at a level not below the 3-
                year average import price for that product.
                    ``(ii) Not later than 30 days before publishing the
                trigger prices in the Federal Register under clause
                (i), the President shall notify and consult with the
                Committees on Ways and Means and Agriculture of the
                House of Representatives and the Committees on Finance
                and Agriculture of the Senate on the proposed trigger
                prices.
                    ``(E) Notice to country concerned.--Not later than
                60 days after the President first assesses additional
                duties under this paragraph on over-quota imports of
                agricultural products described in paragraph (3)(B),
                the President shall notify the beneficiary sub-Saharan
                African country where the product was grown,
                manufactured, or produced, in writing of such action
                and shall provide to the country data supporting the
                assessment of the additional duties.
                    ``(F) Definitions.--In this paragraph:
                            ``(i) F.O.B.--The term `F.O.B.' means free
                        on board, regardless of the mode of
                        transportation, at the point of direct shipment
                        by the seller to the buyer.
                            ``(ii) HTS.--The term `HTS' means the
                        Harmonized Tariff Schedule of the United
                        States.
                            ``(iii) Unit import price.--The term `unit
                        import price' means the price expressed in
                        dollars per kilogram.''.
    (b) Short Supply Provisions.--Section 112(b)(5) of the African
Growth and Opportunity Act (19 U.S.C. 3721(b)(5)) is amended--
            (1) by amending subparagraph (A) to read as follows:
                    ``(A) In general.--Articles that are both cut (or
                knit-to-shape) and sewn or otherwise assembled in one
                or more beneficiary sub-Saharan African countries--
                            ``(i) from fabric or yarn which need not be
                        originating under General Note 12(t) of the
                        Harmonized Tariff Schedule of the United States
                        for the apparel article to qualify as
                        originating under that Note; or
                            ``(ii) from fabric or yarn which--
                                    ``(I) is the component that
                                determines the classification of the
                                articles under the Harmonized Tariff
                                Schedule of the United States;
                                    ``(II) is not commercially
                                available; and
                                    ``(III) which the President
                                proclaims as eligible for use under
                                this paragraph without regard to where
                                the fabric or yarn is formed pursuant
                                to the procedures set forth in
                                subparagraph (B).''; and
            (2) in subparagraph (B), in the matter preceding clause
        (i), by striking ``not described in subparagraph (A)'' and
        inserting ``and thus eligible for use in the production of cut
        components or knit-to-shape components described in
        subparagraph (A)(ii)''.
    (c) User Developed Beneficiary Sub-Saharan African Countries.--
Section 112(b)(3)(B) of the African Growth and Opportunity Act (19
U.S.C. 3721(b)(3)(B)) is amended--
            (1) in clause (ii)--
                    (A) in subclause (II), by inserting ``and'' after
                the semicolon; and
                    (B) by striking subclauses (III) and (IV) and
                inserting the following:
                                    ``(III) 2.9285 percent for the 1-
                                year period beginning October 2, 2005,
                                and for each 1-year period thereafter
                                through September 30, 2015.'';
            (2) in clause (iii)--
                    (A) in subclause (II), by striking ``and'';
                    (B) in subclause (III), by striking the period and
                inserting ``; and''; and
                    (C) by adding after subclause (III) the following:
                                    ``(IV) Mauritius, except that the
                                applicable percentage with respect to
                                Mauritius shall be 5 percent of the
                                applicable percentage described in
                                clause (ii)(III).''; and
            (3) by striking clause (iv).

Output:
Answer Africa's Call Act - Amends the Internal Revenue Code to impose an additional income tax (surcharge) on adjusted gross incomes exceeding certain threshold levels (in order to fund the U.S. International Finance Facility).

Establishes the United States International Finance Facility Trust Fund in the Treasury consisting of such amounts appropriated or credited to the Trust Fund, including amounts collected from the surcharge).

Makes such Fund amounts available without further appropriation for expenditures in connection with U.S. commitments to the International Finance Facility.

Amends the Trade Act of 1974 to modify the preferential trade treatment for agricultural products of beneficiary sub-Saharan African countries. Removes the limitation on eligibility for duty-free treatment of an agriculture product subject to a tariff-rate quota exceeding the in-quota amount, if the over-quota import is the growth, product, or manufacture of a beneficiary sub-Saharan African country. Requires the President to: (1) assess a duty on such an over-quota product if its unit import price is less than the annual trigger price; (2) establish an annual trigger price for each such product; and (3) notify the beneficiary sub-Saharan African country concerned of such additional duty.

Amends the African Growth and Opportunity Act (AGOA) to revise criteria for preferential treatment of apparel articles wholly assembled from fabric or yarn not available in commercial quantities in the United States to make certain yarn or fabrics eligible for use in the production of specified cut or knit-to-shape apparel articles.

Modifies AGOA special rules for lesser developed countries with respect to preferential treatment for apparel articles wholly assembled, or knit to shape and wholly assembled, or both, in one or more lesser developed beneficiary sub-Saharan African countries regardless of the country of origin of the fabric or yarn used. Extends through FY 2015 the applicable percentage component of the preferential treatment formula established for FY 2005.

Includes Mauritius in such extension, with no change in its current limitation of 5% of such applicable percentage.