Input:
SECTION 1. SHORT TITLE.

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

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

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there are rescinded and permanently canceled all unobligated balances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 All such unobligated balances so rescinded and permanently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

SEC. 3. TERMINATION OF NEIGHBORHOOD STABILIZATION PROGRAM.

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

SEC. 4. PUBLICATION OF MEMBER AVAILABILITY FOR ASSISTANCE.

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

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

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

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

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

            Passed the House of Representatives March 16, 2011.

            Attest:

                                                 KAREN L. HAAS,

                                                                 Clerk.

Output:
NSP Termination Act - Rescinds and cancels permanently all unobligated balances remaining available, as of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, to the Secretary of Housing and Urban Development (HUD) for assistance to states and local governments for the redevelopment of abandoned and foreclosed homes and residential properties. (Thus, rescinds the third round of funding for the Neighborhood Stabilization Program [NSP].) Urges that all such rescinded and canceled amounts be retained in the Treasury General Fund for reducing the federal budget deficit.

Subjects to possible rescission and permanent cancellation certain amounts allocated by the Secretary under the third round of funding for the NSP to specified states, including city, county, and municipal governments.

Amends the Housing and Economic Recovery Act of 2008 to repeal emergency FY2008 appropriations for the Program.

States that such appropriations, together with amounts made available for the Program in the HUD, Community Planning and Development, Community Development Fund under title XII of division A of the American Recovery and Reinvestment Act of 2009, shall continue to be governed by any provisions of law applicable to such amounts as in effect before the repeal.

Requires the Secretary to terminate the Program upon the obligation of all such amounts and outlays to liquidate them.

Requires the Secretary to publish on the HUD website a statement as to: (1) termination of the NSP; and (2) the availability of a Member of Congress and state, county, and local officials to provide assistance in mitigating the impacts of foreclosed properties on an individual's community.

Requires the Comptroller General to study the economic impacts of: (1) round three NSP funding on states and communities that would occur if it were not rescinded and canceled but remained available, and (2) actual round one and round two NSP assistance on those states and communities.


Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Millennium Challenge Compact
Improvement Act (MCIA)''.

SEC. 2. MILLENNIUM CHALLENGE COMPACT.

    (a) Duration of Compacts.--Section 609 of the Millennium Challenge
Act of 2003 (22 U.S.C. 7708) is amended--
            (1) by striking subsection (j); and
            (2) by inserting after subsection (i) the following new
        subsection:
    ``(j) Duration of Compact.--
            ``(1) In general.--Except as provided in subparagraph (2),
        the duration of a Compact shall not exceed 5 years.
            ``(2) Exception.--The duration of a Compact (including a
        regional Compact) may exceed 5 years if the Board--
                    ``(A) determines that the Compact includes a
                project that cannot be completed in 5 years or less;
                and
                    ``(B) approves a duration for the Compact of not
                more than 10 years.
            ``(3) Advance notification.--Not later than 15 days before
        the Board approves a duration for a Compact that exceeds 5
        years pursuant to subparagraph (2), the Board, acting through
        the Chief Executive Officer, shall submit to the appropriate
        congressional committees an advance notification of such
        approval, including a detailed explanation for the
        determination and approval.''.
    (b) Concurrent and Subsequent Compacts.--Section 609 of such Act
(22 U.S.C. 7708) is amended--
            (1) by striking subsection (k); and
            (2) by inserting after subsection (j) (as amended by
        subsection (a)) the following new subsection:
    ``(k) Concurrent and Subsequent Compacts.--
            ``(1) In general.--Subject to the requirements of paragraph
        (2), and in accordance with the requirements of this title, an
        eligible country and the United States--
                    ``(A) may enter into and have in effect more than
                one Compact at any given time; and
                    ``(B) may enter into subsequent Compacts after the
                expiration of existing Compacts.
            ``(2) Requirements.--
                    ``(A) Concurrent compacts.--An eligible country and
                the United States may enter into a concurrent Compact
                (including a regional Compact) only if the Board
                determines that the country is making considerable and
                demonstrable progress in implementing the terms of its
                existing Compact and supplementary agreements thereto.
                    ``(B) Subsequent compacts.--An eligible country and
                the United States may enter into a subsequent Compact
                only if the Board determines that the country has
                substantially met the objectives of prior Compacts
                between the country and the United States and
                supplementary agreements thereto, or the Board
                determines that the eligible country has demonstrated
                sufficient capacity to perform successfully on a
                subsequent Compact.''.
    (c) Applicability.--The amendments made by subsections (a) and (b)
apply with respect to Compacts entered into between the United States
and an eligible country under the Millennium Challenge Act of 2003
before, on or after the date of the enactment of this Act.
    (d) Conforming Amendment.--Section 613(b)(2)(A) of such Act (22
U.S.C. 7712(b)(2)(A)) is amended by striking ``the'' before ``Compact''
and inserting ``any''.

SEC. 3. AUTHORIZATION OF REGIONAL ASSISTANCE.

    (a) Assistance.--Section 605(a) of the Millennium Challenge Act of
2003 (22 U.S.C. 7704(a)) is amended by adding at the end the following
new sentence: ``The assistance contemplated by this subsection may be
provided through a Compact with a country individually and/or through a
Compact with two or more countries in the same geographic region
collectively.''.
    (b) Eligible Entities.--Section 605(c) of such Act (22 U.S.C.
7704(c)) is amended--
            (1) in paragraph (2), by striking ``or'' at the end;
            (2) in paragraph (3), by striking the period at the end and
        inserting ``; or''; and
            (3) by adding at the end the following:
            ``(4) an entity, structure, or other arrangement
        established by two or more eligible countries in connection
        with a regional Compact.''.
    (c) Conforming Amendments.--
            (1) Compact.--Section 609(a) of such Act (22 U.S.C.
        7708(a)) is amended by inserting after ``only if the country''
        the following: ``(or countries, in the case of a regional
        Compact)''.
            (2) Assistance for development of compact.--Section 609(g)
        of such Act (22 U.S.C. 7708(g)) is amended--
                    (A) by inserting after ``eligible country'' the
                following: ``(or countries, in the case of a regional
                compact)''; and
                    (B) by inserting at the end before the period the
                following: ``(or countries, as appropriate)''.
            (3) Suspension and termination of assistance.--Section 611
        of such Act (22 U.S.C. 7710) is amended--
                    (A) by redesignating subsections (c) and (d) as
                subsections (d) and (e), respectively; and
                    (B) by inserting after subsection (b) the following
                new subsection:
    ``(c) Regional Compacts.--In the case of a regional compact, the
Chief Executive Officer may--
            ``(1) after consultation with the Board, suspend or
        terminate assistance in whole or in part to one or more
        countries, as appropriate, based on a determination consistent
        with subsection (a); and
            ``(2) reinstate assistance for a country or countries, as
        appropriate, based on a determination consistent with
        subsection (b).''.

Output:
Millennium Challenge Compact Improvement Act (MCIA) - Amends the Millennium Challenge Act of 2003 to authorize under specified circumstances: (1) Millennium Challenge Compacts in excess of five years; and (2) concurrent Compacts.

States that assistance may be provided through a Compact with a country individually and/or through a Compact with two or more countries in the same geographic region collectively.

Sets forth provisions regarding suspension or termination of regional Compacts.


Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Scaling Up Manufacturing Act of
2012''.

SEC. 2. CREDIT FOR MANUFACTURING FACILITY COSTS.

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

``SEC. 45S. MANUFACTURING FACILITY EXPENDITURES.

    ``(a) General Rule.--For purposes of section 38, in the case of an
eligible business, the manufacturing facility expenditure credit for
any taxable year is an amount equal to 25 percent of the qualified
facility construction expenditures of the taxpayer for the taxable
year.
    ``(b) Eligible Business.--For purposes of this section--
            ``(1) In general.--The term `eligible business' means any
        corporation or partnership--
                    ``(A) which is engaged in an active trade or
                business,
                    ``(B) which is headquartered in the United States,
                    ``(C) substantially all of the management or
                administrative activities of which are performed in the
                United States,
                    ``(D) which has not (prior to placing into service
                the manufacturing facility designated for purposes of
                this section) placed in service a manufacturing
                facility,
                    ``(E) which is a start-up company, and
                    ``(F) with respect to which all debt obligations
                issued by, and equity interests in, have a rating of B
                minus (or its substantial equivalent) or higher from a
                credit rating agency registered with the Securities and
                Exchange Commission as a nationally recognized
                statistical rating organization (as defined in section
                3(a) of the Securities Exchange Act of 1934).
            ``(2) Start-up company.--The term `start-up company' means
        any corporation or partnership--
                    ``(A) which first has both gross receipts and
                qualified research expenses (as defined in section
                41(b)) in a taxable year beginning after December 31,
                2012, or
                    ``(B) which has both gross receipts and qualified
                research expenses (as so defined) in fewer than 3
                taxable years beginning after December 31, 2012, and
                before January 1, 2018.
    ``(c) Qualified Facility Construction Expenditures.--For purposes
of this section--
            ``(1) In general.--The term `qualified facility
        construction expenditures' means amounts paid or incurred by
        the taxpayer--
                    ``(A) for the construction of a facility
                (designated for purposes of this section by the
                taxpayer at such time and in such form and manner as
                the Secretary shall prescribe) in the United States to
                manufacture a qualified product (including amounts for
                professional services necessary for the planning of
                such construction), and
                    ``(B) for the purchase of specialized equipment for
                use at such facility and required for the manufacture
                of such product.
            ``(2) Qualified product.--The term `qualified product'
        means any product which, prior to construction of the facility
        with respect to which a credit is allowed under this section,
        the taxpayer has produced and sold to a bona fide purchaser,
        and such purchaser has placed such product in service.
    ``(d) Special Rules.--For purposes of this section--
            ``(1) Recapture.--
                    ``(A) In general.--If, as of the close of any
                taxable year, there is a recapture event with respect
                to any facility of the taxpayer with respect to which a
                credit was allowed under this section, then the tax of
                the taxpayer under this chapter for such taxable year
                shall be increased by an amount equal to the product
                of--
                            ``(i) the applicable recapture percentage,
                        and
                            ``(ii) the aggregate decrease in the
                        credits allowed under section 38 for all prior
                        taxable years which would have resulted if the
                        qualified facility construction expenditures of
                        the taxpayer described in subsection (c)(1)
                        with respect to such facility had been zero.
                    ``(B) Applicable recapture percentage.--
                            ``(i) In general.--For purposes of this
                        subsection, the applicable recapture percentage
                        shall be determined in accordance with the
                        following table:

``If the recapture event            The applicable recapture percentage
  occurs in:                                                        is:
        Year 1.............................................        100
        Year 2.............................................         80
        Year 3.............................................         60
        Year 4.............................................         40
        Year 5.............................................         20
        Years 6 and thereafter.............................          0.
                            ``(ii) Years.--For purposes of clause (i),
                        year 1 shall begin on the first day of the
                        taxable year in which the facility with respect
                        to which a credit was allowed under this
                        subsection was placed in service.
                    ``(C) Recapture event.--For purposes of this
                paragraph--
                            ``(i) In general.--A recapture event occurs
                        with respect to any facility if--
                                    ``(I) the taxpayer becomes
                                insolvent, or
                                    ``(II) the taxpayer disposes of the
                                facility to another person who, at this
                                time of the disposition, is not an
                                eligible business.
                            ``(ii) Special rule for facilities not
                        placed in service within 5 years.--In the case
                        of a facility with respect to which a credit is
                        allowed under this section which is not placed
                        in service before the close of the 5th taxable
                        year beginning after the first taxable year for
                        which the credit was so allowed, a recapture
                        event shall be treated as having occurred with
                        respect to such facility in year 1.
            ``(2) Credit may be assigned.--The amount of qualified
        facility construction expenditures with respect to a facility
        which would (but for this paragraph) be taken into account
        under subsection (a) for any taxable year by any person
        (hereafter in this paragraph referred to as the `initial
        taxpayer')--
                    ``(A) may be taken into account by any other person
                to whom such expenditures are assigned by the initial
                taxpayer, and
                    ``(B) shall not be taken into account by initial
                taxpayer.
        Any person to whom such expenditures are assigned under
        subparagraph (A) shall be treated for purposes of this title as
        the taxpayer with respect to such expenditures.
            ``(3) Controlled group.--All members of the same controlled
        group of corporations (within the meaning of section 52(a)) and
        all persons under common control (within the meaning of section
        52(b)) shall be treated as 1 person for purposes of this
        section.
            ``(4) Predecessor.--Any reference in this section to a
        corporation or partnership shall include a reference to any
        predecessor of such corporation or partnership.
            ``(5) Denial of double benefit.--For purposes of this
        subtitle, if a credit is allowed under this section in
        connection with any expenditure for any property, the basis of
        such property shall be reduced by the amount of the credit so
        allowed.''.
    (b) Denial of Double Benefit.--Section 280C of such Code is amended
by inserting after subsection (h) the following new subsection:
    ``(i) Manufacturing Facility Expenditures.--No deduction shall be
allowed for that portion of the expenses otherwise allowable as a
deduction taken into account in determining the credit under section
45S for the taxable year which is equal to the amount of the credit
determined for such taxable year under section 45S(a).''.
    (c) Credit To Be Part of General Business Credit.--Subsection (b)
of section 38 of such Code is amended by striking ``plus'' at the end
of paragraph (35), by striking the period at the end of paragraph (36)
and inserting ``, plus'', and by inserting after paragraph (36) the
following:
            ``(37) manufacturing facility expenditure credit determined
        under section 45S(a).''.
    (d) Conforming Amendment.--Subsection (a) of section 1016 of such
Code is amended by striking ``and'' at the end of paragraph (36), by
striking the period at the end of paragraph (37) and inserting ``,
and'', and by adding at the end the following new paragraph:
            ``(38) to the extent provided in section 45S(d)(2).''.
    (e) Effective Date.--The amendments made by this section shall
apply to amounts paid or incurred after the date of the enactment of
this Act.

Output:
Scaling Up Manufacturing Act of 2012 - Amends the Internal Revenue Code to allow certain start-up companies that are headquartered in the United States a tax credit for up to 25% of their costs for the construction of a manufacturing facility and for the purchase of specialized equipment for use at such facility.

Defines a "start-up company" as any corporation or partnership that: (1) first has both gross receipts and qualified research expenses in a taxable year beginning after December 31, 2012, or (2) has both gross receipts and qualified research expenses in fewer than three taxable years beginning after December 31, 2012, and before January 1, 2018.


Input:
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Promote
Accountability and Government Efficiency Act''.
    (b) Table of Contents.--The table of contents for this Act is as
follows:

Sec. 1. Short title; table of contents.
Sec. 2. At-will employment status for new Federal employees.
Sec. 3. Immediate suspension of employees for misconduct or poor
                            performance.
Sec. 4. Limitation on appeal rights.
Sec. 5. Restriction of pay raises.
Sec. 6. Forfeiture of CSRS or FERS annuity for any employee convicted
                            of a felony.
Sec. 7. Transfer from Senior Executive Service to General Schedule.
Sec. 8. Limitation on official time and use of Government resources in
                            carrying out union activities.

SEC. 2. AT-WILL EMPLOYMENT STATUS FOR NEW FEDERAL EMPLOYEES.

    (a) In General.--Notwithstanding any other provision of law, any
employee in the civil service (as that term is defined in section 2101
of title 5, United States Code) hired on or after the date that is 1
year after the date of enactment of this Act shall be hired on an at-
will basis. Such an employee may be removed or suspended, without
notice or right to appeal, from service by the head of the agency at
which such employee is employed for good cause, bad cause, or no cause
at all.
    (b) Clarification of Employment Protections.--Notwithstanding the
requirements of subsection (a), this Act shall not be construed to
extinguish or lessen any effort to achieve equal employment opportunity
through affirmative action or any right or remedy available to any
employee or applicant for employment in the civil service who is hired
subject to subsection (a) under--
            (1) the title VII of the Civil Rights Act of 1964 (42
        U.S.C. 2000e et seq.), prohibiting discrimination on the basis
        of race, color, religion, sex, or national origin;
            (2) the Age Discrimination in Employment Act of 1967 (29
        U.S.C. 621 et seq.), prohibiting discrimination on the basis of
        age;
            (3) the Fair Labor Standards Act of 1938 (29 U.S.C. 201 et
        seq.), prohibiting discrimination on the basis of sex;
            (4) the Rehabilitation Act of 1973 (29 U.S.C. 701 et seq.),
        prohibiting discrimination on the basis of handicapping
        condition;
            (5) the Whistleblower Protection Enhancement Act of 2012
        (Public Law 112-199);
            (6) the provisions of any law, rule, or regulation
        prohibiting discrimination on the basis of marital status or
        political affiliation;
            (7) the Congressional Accountability Act of 1995, in the
        case of employees of the legislative branch who are subject to
        such Act;
            (8) the protections relating to prohibited personnel
        practices (as that term is defined in section 2302 of title 5,
        United States Code); or
            (9) any law protecting the employment rights of veterans.
    (c) Appeal.--
            (1) In general.--Any employee or applicant for employment
        who is subject to subsection (a) and who seeks a remedy under
        any law listed in subsection (b) with respect to an adverse
        personnel action may, in addition to the remedies provide by
        such law, seek an available remedy as provided under--
                    (A) title 5, United States Code, including
                appealing such action to the Merit Systems Protection
                Board or the Office of the Special Counsel;
                    (B) the Equal Employment Opportunity Commission; or
                    (C) consistent with the requirements of section 9,
                any applicable collective bargaining agreement.
            (2) Limitation.--An employee or applicant for employment
        may appeal an adverse personnel action only to a single agency,
        and may not thereafter bring any appeal pertaining to such
        dismissal before any other agency.
    (d) Application.--This section shall apply with respect to any
employee hired on or after the date that is 1 year after the date of
enactment of this Act.
    (e) Regulations.--Not later than 180 days after the date of
enactment of this section, each agency or instrumentality of the
Federal Government to which this section applies shall develop
operating standards consistent with the requirements of this section,
including standards with respect to--
            (1) notifying any employee hired on or after date specified
        in subsection (a) that such employee is an at-will employee;
            (2) determining which senior positions within such agency
        or instrumentality have the authority to separate an at-will
        employee from service; and
            (3) ensuring adequate oversight is in place to ensure that
        any separation of an at-will employee is not a result of
        discrimination or other violation of any law listed under
        subsection (b).
    (f) Definitions.--In this section:
            (1) Employee.--The term ``employee'' has the meaning given
        such term in section 2105 of title 5, United States Code, and
        includes any officer or employee of the United States Postal
        Service or the Postal Regulatory Commission.
            (2) Personnel action.--The term ``personnel action'' has
        the meaning given such term in section 2302(a)(2)(A) of such
        title.
            (3) Veteran.--The term ``veteran'' has the meaning given
        that term under section 2108(1) of such title.

SEC. 3. IMMEDIATE SUSPENSION OF EMPLOYEES FOR MISCONDUCT OR POOR
              PERFORMANCE.

    (a) In General.--Chapter 75 of title 5, United States Code, is
amended by adding at the end the following:

     ``SUBCHAPTER VI--IMMEDIATE SUSPENSION FOR MISCONDUCT OR POOR
                              PERFORMANCE

``Sec. 7551. Definitions
    ``In this subchapter--
            ``(1) the term `employee' has the meaning given such term
        in section 7501(1) and includes any employee of the United
        States Postal Service or the Postal Regulatory Commission, but
        does not include any at-will employee (as determined under
        section 2 of the Promote Accountability and Government
        Efficiency Act); and
            ``(2) the term `suspend' means the placing of any employee,
        for misconduct or poor performance, in a temporary status
        without duties.
``Sec. 7552. Immediate suspension for misconduct or poor performance
    ``(a) Under regulations prescribed by the Office of Personnel
Management, the head of an agency may suspend (with or without pay) an
employee of such agency if the head determines that the misconduct or
performance of the employee warrants such suspension. The period of any
such suspension shall be determined by the head.
    ``(b) An employee who is suspended under subsection (a) is
entitled, after suspension, to--
            ``(1) a written notice, not later than 10 days after the
        first day of such suspension, stating the specific reasons for
        the suspension;
            ``(2) a reasonable time, but not less than 10 days, to
        answer orally and in writing and to furnish affidavits and
        other documentary evidence in support of the answer;
            ``(3) be represented by an attorney or other
        representative; and
            ``(4) a review of the case by the agency head and a written
        final decision and the specific reasons therefor at the
        earliest practicable date.
    ``(c) An employee against whom an action is taken under this
section is entitled to appeal to the Merit Systems Protection Board
under section 7701 of this title. During such appeal, the Merit Systems
Protection Board may not take any action to reinstate the employee to
the position of employment from which such employee is suspended until
the date of the final decision of such appeal.
    ``(d) Copies of the notice of proposed action, the answer of the
employee if written, a summary thereof if made orally, the notice of
decision and reasons therefor, and any order affecting the suspension,
together with any supporting material, shall be maintained by the
agency and shall be furnished to the Merit Systems Protection Board
upon its request and to the employee affected upon the employee's
request.
    ``(e) In the case of critical necessity, the head of an agency may
immediately replace an employee suspended under subsection (a) without
regard to sections 3309 through 3318 of title 5, United States Code.''.
    (b) Clerical Amendment.--The table of sections for chapter 75 of
title 5, United States Code, is amended by adding at the end the
following:

      ``subchapter vi--immediate suspension for misconduct or poor
                              performance

``7551. Definitions.
``7552. Immediate suspension for misconduct or poor performance.''.

SEC. 4. LIMITATION ON APPEAL RIGHTS.

    Notwithstanding any other provision of law, an employee (as that
term is defined in section 2(g)(1)) or applicant for employment may not
appeal an adverse personnel action to more than 1 agency.

SEC. 5. RESTRICTION OF PAY RAISES.

    (a) In General.--Notwithstanding any other provision of law, an
employee may not receive an increase in annual rate of pay if such
employee did not receive at least a score of 4 or 5 out of 5 (or an
equivalent rating with respect to a performance appraisal system that
does provide for such a scoring system) on such employee's latest
performance review under the performance appraisal system applicable to
such employee.
    (b) Report.--Not later than 1 year after the date of enactment of
this Act, the Director of the Office of Personnel Management shall
submit to Congress a report that contains recommendations for a single-
agency rating system.
    (c) Collective Bargaining Agreements.--
            (1) Application.--The requirements of this section shall
        apply to any collective bargaining agreement entered into by
        the head of an agency on or after the date of enactment of this
        Act.
            (2) Grievance.--In the case of an employee covered by a
        collective bargaining agreement referred to in paragraph (1), a
        grievance filed on behalf of such employee that results in an
        increased performance rating for such employee may not result
        in an increase in annual rate of pay for such employee.
    (d) Definition.--In this section, the term ``employee'' has the
meaning given such term in section 2105 of title 5, United States Code,
and includes any officer or employee of the United States Postal
Service or the Postal Regulatory Commission.

SEC. 6. FORFEITURE OF CSRS OR FERS ANNUITY FOR ANY EMPLOYEE CONVICTED
              OF A FELONY.

    (a) In General.--Subchapter II of chapter 83 of title 5, United
States Code, is amended by adding at the end the following:
``Sec. 8323. Forfeiture of annuity for felony conviction.
    ``(a)(1) An individual appointed to the service who is not subject
to the requirements of section 2 of the Promote Accountability and
Government Efficiency Act may not be paid an annuity or retired pay on
the basis of the service of the individual which is creditable toward
the annuity if the individual was finally convicted of a felony
offense.
    ``(2) For purposes of paragraph (1), the term `felony offense'
means any felony offense committed by the individual that is related to
the performance of any position within the service occupied by such
individual.
    ``(b) An individual who is an at-will employee (as determined under
section 2 of the Promote Accountability and Government Efficiency Act)
may not be paid an annuity on the basis of the service of the
individual which is creditable toward the annuity if the individual was
finally convicted of a felony offense--
            ``(1) when such individual was performing creditable
        service (as that term is defined in section 8332 or 8411); or
            ``(2) after such individual has separated from the service,
        but only if such offense is related to the performance of any
        position within the Government formerly occupied by such
        individual.
    ``(c) In this section, the term `finally convicted' has the meaning
given such term in section 8332(o)(A)(6).''.
    (b) Clerical Amendment.--The table of sections of subchapter II of
chapter 83 of title 5, United States Code, is amended by adding after
the item relating to section 8322 the following new item:

``8323. Forfeiture of annuity for felony conviction.''.

SEC. 7. TRANSFER FROM SENIOR EXECUTIVE SERVICE TO GENERAL SCHEDULE.

    (a) In General.--Subchapter VIII of chapter 33 of title 5, United
States Code, is amended--
            (1) by redesignating section 3397 as section 3398; and
            (2) by inserting after section 3396 the following:
``Sec. 3397. Transfer to General Schedule positions
    ``(a) Notwithstanding any other provision of law, the head of any
agency may transfer a covered individual to a position within the
General Schedule (subchapter III of chapter 53).
    ``(b) Notwithstanding any other provision of law, including the
requirements of section 3594, any covered individual transferred to a
General Schedule position under subsection (a) shall, beginning on the
date of such transfer, receive the annual rate of pay applicable to
such position.
    ``(c) In this section, the term `covered individual' means an
individual occupying a Senior Executive Service position who is not an
at-will employee (as determined under section 2 of the Promote
Accountability and Government Efficiency Act).''.
    (b) Clerical Amendment.--The table of sections of subchapter VIII
of chapter 33 of title 5, United States Code, is amended by striking
the item relating to section 3397 and inserting the following new
items:

``3397. Transfer to General Schedule positions.
``3398. Regulations.''.

SEC. 8. LIMITATION ON OFFICIAL TIME AND USE OF GOVERNMENT RESOURCES IN
              CARRYING OUT UNION ACTIVITIES.

    (a) In General.--Section 7131 of title 5, United States Code, is
amended to read as follows:
``Sec. 7131. Limitation on official time
    ``In carrying out any activities relating to the internal business
of a labor organization (including the solicitation of membership,
elections of labor organization officials, and collection of dues), an
employee may not--
            ``(1) perform such activities unless such employee is in a
        non-duty status; or
            ``(2) use any Government property (including office space
        or computers).''.
    (b) Clerical Amendment.--The table of sections for chapter 71 of
title 5, United States Code, is amended by striking the item relating
to section 7131 and inserting the following new item:

``7131. Limitation on official time.''.

Output: Promote Accountability and Government Efficiency Act This bill requires civil service employees to be hired on an at-will basis beginning one year after this bill's enactment. Such an employee may be removed or suspended from service by the agency head for good cause, bad cause, or no cause at all, without notice or right to appeal.  The bill specifies how an employee or applicant may seek a remedy under specified employment protection statutes with respect to an adverse personnel action.  The bill permits an agency to suspend an employee for misconduct or poor performance. The employee may appeal to the Merit Systems Protection Board, which may not reinstate the employee until a final decision is made on such appeal. In the case of critical necessity, an agency may immediately replace a suspended employee. An employee or applicant may not appeal an adverse personnel action to more than one agency. The bill prohibits an employee who does not receive a score of four or five out of five (or an equivalent rating) on his or her latest performance review from receiving a pay raise. A grievance filed on behalf of such employee covered by a collective bargaining agreement that results in an increased performance rating for such employee may not result in a pay raise. The OPM shall submit a report that contains recommendations for a single-agency rating system.  An individual appointed to the civil service who is not subject to this bill's requirements regarding at-will employment may not be paid an annuity or retired pay on the basis of such service if the individual was finally convicted of a felony offense: (1) when such individual was performing creditable service, or (2) after such individual has separated from service if such offense is related to the performance of his or her government position. An agency may transfer an individual occupying a Senior Executive Service position who is not an at-will employee to a position within the General Schedule. The bill: (1) eliminates provisions authorizing official time for an employee serving as an exclusive representative in the negotiation of a collective bargaining agreement, and (2) prohibits an employee from using government property in carrying out any activities relating to the internal business of a labor organization.


Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Adoption Promotion Act of 1996''.

SEC. 2. CREDIT FOR ADOPTION EXPENSES.

    (a) In General.--Subpart A of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 (relating to nonrefundable
personal credits) is amended by inserting after section 22 the
following new section:

``SEC. 23. ADOPTION EXPENSES.

    ``(a) Allowance of Credit.--In the case of an individual, there
shall be allowed as a credit against the tax imposed by this chapter
for the taxable year the amount of the qualified adoption expenses paid
or incurred by the taxpayer with respect to the adoption of a child.
    ``(b) Limitations.--
            ``(1) Dollar limitation.--The aggregate amount of qualified
        adoption expenses which may be taken into account under
        subsection (a) with respect to the adoption of a child shall
        not exceed $5,000 ($7,500, in the case of a child with special
        needs).
            ``(2) Income limitation.--The amount allowable as a credit
        under subsection (a) for any taxable year shall be reduced (but
        not below zero) by an amount which bears the same ratio to the
        amount so allowable (determined without regard to this
        paragraph but with regard to paragraph (1)) as--
                    ``(A) the amount (if any) by which the taxpayer's
                adjusted gross income (determined without regard to
                sections 911, 931, and 933) exceeds $65,000, bears to
                    ``(B) $30,000.
            ``(3) Denial of double benefit.--
                    ``(A) In general.--No credit shall be allowed under
                subsection (a) for any expense for which a deduction or
                credit is allowable under any other provision of this
                chapter.
                    ``(B) Grants.--No credit shall be allowed under
                subsection (a) for any expense to the extent that funds
                for such expense are received under any Federal, State,
                or local program.
                    ``(C) Reimbursement.--No credit shall be allowed
                under subsection (a) for any expense to the extent that
                such expense is reimbursed and the reimbursement is
                excluded from gross income under section 138.
    ``(c) Carryforwards of Unused Credit.--If the credit allowable
under subsection (a) for any taxable year exceeds the limitation
imposed by section 26(a) for such taxable year reduced by the sum of
the credits allowable under this subpart (other than this section),
such excess shall be carried to the succeeding taxable year and added
to the credit allowable under subsection (a) for such taxable year. No
credit may be carried forward under this subsection to any taxable year
following the fifth taxable year after the taxable year in which the
credit arose. For purposes of the preceding sentence, credits shall be
treated as used on a first-in first-out basis.
    ``(d) Definitions.--For purposes of this section--
            ``(1) Qualified adoption expenses.--The term `qualified
        adoption expenses' means--
                    ``(A) reasonable and necessary adoption fees, court
                costs, attorney fees, and other expenses--
                            ``(i) which are directly related to, and
                        the principal purpose of which is for, the
                        legal and finalized adoption of an eligible
                        child by the taxpayer, and
                            ``(ii) which are not incurred in violation
                        of State or Federal law or in carrying out any
                        surrogate parenting arrangement, and
                    ``(B) in the case of the adoption of a child with
                special needs, any other expenses.
            ``(2) Expenses for adoption of spouse's child not
        eligible.--The term `qualified adoption expenses' shall not
        include any expenses in connection with the adoption by an
        individual of a child who is the child of such individual's
        spouse.
            ``(3) Eligible child.--The term `eligible child' means any
        individual who has not attained age 18 as of the time of the
        adoption.
            ``(4) Child with special needs.--The term `child with
        special needs' means any eligible child if--
                    ``(A) a State has determined that the child cannot
                or should not be returned to the home of his parents,
                and
                    ``(B) such State has determined that there exists
                with respect to the child a specific factor or
                condition (such as his ethnic background, age, or
                membership in a minority or sibling group, or the
                presence of factors such as medical conditions or
                physical, mental, or emotional handicaps) because of
                which it is reasonable to conclude that such child
                cannot be placed with adoptive parents without
                providing adoption assistance.
    ``(e) Married Couples Must File Joint Returns.--Rules similar to
the rules of paragraphs (2), (3), and (4) of section 21(e) shall apply
for purposes of this section.''.
    (b) Conforming Amendments.--The table of sections for subpart A of
part IV of subchapter A of chapter 1 of the Internal Revenue Code of
1986 is amended by inserting after the item relating to section 22 the
following new item:

                              ``Sec. 23. Adoption expenses.''.
    (c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 1995.

SEC. 3. DISTRIBUTIONS FROM CERTAIN PLANS MAY BE USED WITHOUT PENALTY TO
              PAY ADOPTION EXPENSES.

    (a) In General.--Paragraph (2) of section 72(t) of the Internal
Revenue Code of 1986 (relating to exceptions to 10-percent additional
tax on early distributions from qualified retirement plans) is amended
by adding at the end the following new subparagraph:
                    ``(D) Distributions from certain plans for adoption
                expenses.--Distributions to an individual from an
                individual retirement plan of so much of the qualified
                adoption expenses (as defined in section 23(d)) of the
                individual as does not exceed $2,000.''.
    (b) Conforming Amendment.--Subparagraph (B) of section 72(t)(2) of
the Internal Revenue Code of 1986 is amended by striking ``or (C)'' and
inserting ``, (C) or (D)''.
    (c) Effective Date.--The amendments made by this section shall
apply to payments and distributions after December 31, 1995.

SEC. 4. EXCLUSION OF AMOUNTS RECEIVED UNDER EMPLOYER'S ADOPTION
              ASSISTANCE PROGRAMS.

    (a) In General.--Part III of subchapter B of chapter 1 of the
Internal Revenue Code of 1986 (relating to items specifically excluded
from gross income) is amended by redesignating section 137 as section
138 and by inserting after section 136 the following new section:

``SEC. 137. ADOPTION ASSISTANCE PROGRAMS.

    ``(a) In General.--Gross income of an employee does not include
amounts paid or expenses incurred by the employer for qualified
adoption expenses in connection with the adoption of a child by an
employee if such amounts are furnished pursuant to an adoption
assistance program.
    ``(b) Limitations.--
            ``(1) Dollar limitation.--The aggregate amount excludable
        from gross income under subsection (a) for all taxable years
        with respect to the adoption of any single child by the
        taxpayer shall not exceed $5,000 ($7,500, in the case of a
        child with special needs (as defined in section 23(d)(4))).
            ``(2) Income limitation.--The amount excludable from gross
        income under subsection (a) for any taxable year shall be
        reduced (but not below zero) by an amount which bears the same
        ratio to the amount so excludable (determined without regard to
        this paragraph but with regard to paragraph (1)) as--
                    ``(A) the amount (if any) by which the taxpayer's
                adjusted gross income (determined without regard to
                this section and sections 911, 931, and 933) exceeds
                $75,000, bears to
                    ``(B) $40,000.
    ``(c) Adoption Assistance Program.--For purposes of this section,
an adoption assistance program is a plan of an employer--
            ``(1) under which the employer provides employees with
        adoption assistance, and
            ``(2) which meets requirements similar to the requirements
        of paragraphs (2), (3), and (5) of section 127(b).
An adoption reimbursement program operated under section 1052 of title
10, United States Code (relating to armed forces) or section 514 of
title 14, United States Code (relating to members of the Coast Guard)
shall be treated as an adoption assistance program for purposes of this
section.
    ``(d) Qualified Adoption Expenses.--For purposes of this section,
the term `qualified adoption expenses' has the meaning given such term
by section 23(d).''.
    (b) Conforming Amendment.--The table of sections for part III of
subchapter B of chapter 1 of the Internal Revenue Code of 1986 is
amended by striking the item relating to section 137 and inserting the
following:

                              ``Sec. 137. Adoption assistance programs.
                              ``Sec. 138. Cross reference to other
                                        Acts.''.
    (c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 1995.

Output:
Adoption Promotion Act of 1996 - Amends the Internal Revenue Code to allow an individual a tax credit of up to $5,000 for qualified adoption expenses paid or incurred during the taxable year.  Provides a limitation based on modified adjusted gross income.    Permits unused credit to be carried forward to the succeeding taxable year on a first-in first-out basis, but prohibits carrying forward credit to any taxable year following the fifth taxable year after the taxable year in which the credit arose.
Allows distributions from an individual retirement plan to be used without penalty to pay for adoption expenses.
Excludes from gross income aggregate amounts of up to $5,000 ($7,500 in the case of a child with special needs) paid or expenses incurred by the employee for qualified adoption expenses in connection with the adoption of a child if such amounts are received under an employer's adoption assistance program.  Provides a limitation based on modified adjusted gross income.


Input:
SECTION 1. SHORT TITLE; REFERENCES.

    (a) Short Title.--This Act may be cited as the ``Federally
Supported Health Centers Assistance Act of 1995''.
    (b) References.--Except as otherwise expressly provided, whenever
in this Act an amendment or repeal is expressed in terms of an
amendment to, or repeal of, a section or other provision, the reference
shall be considered to be made to a section or other provision of the
Public Health Service Act.

SEC. 2. PERMANENT EXTENSION OF PROGRAM.

    (a) In General.--Section 224(g)(3) (42 U.S.C. 233(g)(3)) is amended
by striking the last sentence.
    (b) Conforming Amendments.--Section 224(k) (42 U.S.C. 233(k)) is
amended--
        (1) in paragraph (1)(A)--
            (A) by striking ``For each of the fiscal years 1993, 1994,
        and 1995'' and inserting ``For each fiscal year''; and
            (B) by striking ``(except'' and all that follows through
        ``thereafter)''; and
        (2) in paragraph (2), by striking ``for each of the fiscal
    years 1993, 1994, and 1995'' and inserting ``for each fiscal
    year''.

SEC. 3. CLARIFICATION OF COVERAGE.

    Section 224 (42 U.S.C. 233) is amended--
        (1) in subsection (g)(1), by striking ``an entity described in
    paragraph (4)'' in the first sentence and all that follows through
    ``contractor'' in the second sentence and inserting the following:
    ``an entity described in paragraph (4), and any officer, governing
    board member, or employee of such an entity, and any contractor of
    such an entity who is a physician or other licensed or certified
    health care practitioner (subject to paragraph (5)), shall be
    deemed to be an employee of the Public Health Service for a
    calendar year that begins during a fiscal year for which a transfer
    was made under subsection (k)(3) (subject to paragraph (3)). The
    remedy against the United States for an entity described in
    paragraph (4) and any officer, governing board member, employee, or
    contractor''; and
        (2) in subsection (k)(3), by inserting ``governing board
    member,'' after ``officer,''.

SEC. 4. COVERAGE FOR SERVICES FURNISHED TO INDIVIDUALS OTHER THAN
              CENTER PATIENTS.

    Section 224(g)(1) (42 U.S.C. 233(g)) is amended--
        (1) by redesignating paragraph (1) as paragraph (1)(A); and
        (2) by adding at the end thereof the following:
    ``(B) The deeming of any entity or officer, governing board member,
employee, or contractor of the entity to be an employee of the Public
Health Service for purposes of this section shall apply with respect to
services provided--
        ``(i) to all patients of the entity, and
        ``(ii) subject to subparagraph (C), to individuals who are not
    patients of the entity.
    ``(C) Subparagraph (B)(ii) applies to services provided to
individuals who are not patients of an entity if the Secretary
determines, after reviewing an application submitted under subparagraph
(D), that the provision of the services to such individuals--
        ``(i) benefits patients of the entity and general populations
    that could be served by the entity through community-wide
    intervention efforts within the communities served by such entity;
        ``(ii) facilitates the provision of services to patients of the
    entity; or
        ``(iii) are otherwise required under an employment contract (or
    similar arrangement) between the entity and an officer, governing
    board member, employee, or contractor of the entity.''.

SEC. 5. APPLICATION PROCESS.

    (a) Application Requirement.--Section 224(g)(1) (42 U.S.C.
233(g)(1)) (as amended by section 4) is further amended--
        (1) in subparagraph (A), by inserting after ``For purposes of
    this section'' the following: ``and subject to the approval by the
    Secretary of an application under subparagraph (D)''; and
        (2) by adding at the end thereof the following:
    ``(D) The Secretary may not under subparagraph (A) deem an entity
or an officer, governing board member, employee, or contractor of the
entity to be an employee of the Public Health Service for purposes of
this section, and may not apply such deeming to services described in
subparagraph (B)(ii), unless the entity has submitted an application
for such deeming to the Secretary in such form and such manner as the
Secretary shall prescribe. The application shall contain detailed
information, along with supporting documentation, to verify that the
entity, and the officer, governing board member, employee, or
contractor of the entity, as the case may be, meets the requirements of
subparagraphs (B) and (C) of this paragraph and that the entity meets
the requirements of paragraphs (1) through (4) of subsection (h).
    ``(E) The Secretary shall make a determination of whether an entity
or an officer, governing board member, employee, or contractor of the
entity is deemed to be an employee of the Public Health Service for
purposes of this section within 30 days after the receipt of an
application under subparagraph (D). The determination of the Secretary
that an entity or an officer, governing board member, employee, or
contractor of the entity is deemed to be an employee of the Public
Health Service for purposes of this section shall apply for the period
specified by the Secretary under subparagraph (A).
    ``(F) Once the Secretary makes a determination that an entity or an
officer, governing board member, employee, or contractor of an entity
is deemed to be an employee of the Public Health Service for purposes
of this section, the determination shall be final and binding upon the
Secretary and the Attorney General and other parties to any civil
action or proceeding. Except as provided in subsection (i), the
Secretary and the Attorney General may not determine that the provision
of services which are the subject of such a determination are not
covered under this section.
    ``(G) In the case of an entity described in paragraph (4) that has
not submitted an application under subparagraph (D):
        ``(i) The Secretary may not consider the entity in making
    estimates under subsection (k)(1).
        ``(ii) This section does not affect any authority of the entity
    to purchase medical malpractice liability insurance coverage with
    Federal funds provided to the entity under section 329, 330, 340,
    or 340A.
    ``(H) In the case of an entity described in paragraph (4) for which
an application under subparagraph (D) is in effect, the entity may,
through notifying the Secretary in writing, elect to terminate the
applicability of this subsection to the entity. With respect to such
election by the entity:
        ``(i) The election is effective upon the expiration of the 30-
    day period beginning on the date on which the entity submits such
    notification.
        ``(ii) Upon taking effect, the election terminates the
    applicability of this subsection to the entity and each officer,
    governing board member, employee, and contractor of the entity.
        ``(iii) Upon the effective date for the election, clauses (i)
    and (ii) of subparagraph (G) apply to the entity to the same extent
    and in the same manner as such clauses apply to an entity that has
    not submitted an application under subparagraph (D).
        ``(iv) If after making the election the entity submits an
    application under subparagraph (D), the election does not preclude
    the Secretary from approving the application (and thereby restoring
    the applicability of this subsection to the entity and each
    officer, governing board member, employee, and contractor of the
    entity, subject to the provisions of this subsection and the
    subsequent provisions of this section.''.
    (b) Approval Process.--Section 224(h) (42 U.S.C. 233(h)) is
amended--
        (1) in the matter preceding paragraph (1), by striking
    ``Notwithstanding'' and all that follows through ``entity--'' and
    inserting the following: ``The Secretary may not approve an
    application under subsection (g)(1)(D) unless the Secretary
    determines that the entity--''; and
        (2) by striking ``has fully cooperated'' in paragraph (4) and
    inserting ``will fully cooperate''.
    (c) Delayed Applicability for Current Participants.--If, on the day
before the date of the enactment of this Act, an entity was deemed to
be an employee of the Public Health Service for purposes of section
224(g) of the Public Health Service Act, the condition under paragraph
(1)(D) of such section (as added by subsection (a) of this section)
that an application be approved with respect to the entity does not
apply until the expiration of the 180-day period beginning on such
date.

SEC. 6. TIMELY RESPONSE TO FILING OF ACTION OR PROCEEDING.

    Section 224 (42 U.S.C. 233) is amended by adding at the end thereof
the following subsection:
    ``(l)(1) If a civil action or proceeding is filed in a State court
against any entity described in subsection (g)(4) or any officer,
governing board member, employee, or any contractor of such an entity
for damages described in subsection (a), the Attorney General, within
15 days after being notified of such filing, shall make an appearance
in such court and advise such court as to whether the Secretary has
determined under subsections (g) and (h), that such entity, officer,
governing board member, employee, or contractor of the entity is deemed
to be an employee of the Public Health Service for purposes of this
section with respect to the actions or omissions that are the subject
of such civil action or proceeding. Such advice shall be deemed to
satisfy the provisions of subsection (c) that the Attorney General
certify that an entity, officer, governing board member, employee, or
contractor of the entity was acting within the scope of their
employment or responsibility.
    ``(2) If the Attorney General fails to appear in State court within
the time period prescribed under paragraph (1), upon petition of any
entity or officer, governing board member, employee, or contractor of
the entity named, the civil action or proceeding shall be removed to
the appropriate United States district court. The civil action or
proceeding shall be stayed in such court until such court conducts a
hearing, and makes a determination, as to the appropriate forum or
procedure for the assertion of the claim for damages described in
subsection (a) and issues an order consistent with such
determination.''.

SEC. 7. APPLICATION OF COVERAGE TO MANAGED CARE PLANS.

    Section 224 (42 U.S.C. 223) (as amended by section 6) is amended by
adding at the end thereof the following subsection:
    ``(m)(1) An entity or officer, governing board member, employee, or
contractor of an entity described in subsection (g)(1) shall, for
purposes of this section, be deemed to be an employee of the Public
Health Service with respect to services provided to individuals who are
enrollees of a managed care plan if the entity contracts with such
managed care plan for the provision of services.
    ``(2) Each managed care plan which enters into a contract with an
entity described in subsection (g)(4) shall deem the entity and any
officer, governing board member, employee, or contractor of the entity
as meeting whatever malpractice coverage requirements such plan may
require of contracting providers for a calendar year if such entity or
officer, governing board member, employee, or contractor of the entity
has been deemed to be an employee of the Public Health Service for
purposes of this section for such calendar year. Any plan which is
found by the Secretary on the record, after notice and an opportunity
for a full and fair hearing, to have violated this subsection shall
upon such finding cease, for a period to be determined by the
Secretary, to receive and to be eligible to receive any Federal funds
under titles XVIII or XIX of the Social Security Act.
    ``(3) For purposes of this subsection, the term `managed care plan'
shall mean health maintenance organizations and similar entities that
contract at-risk with payors for the provision of health services or
plan enrollees and which contract with providers (such as entities
described in subsection (g)(4)) for the delivery of such services to
plan enrollees.''.

SEC. 8. COVERAGE FOR PART-TIME PROVIDERS UNDER CONTRACTS.

    Section 224(g)(5)(B) (42 U.S.C. 223(g)(5)(B)) is amended to read as
follows:
        ``(B) in the case of an individual who normally performs an
    average of less than 32\1/2\ hours of services per week for the
    entity for the period of the contract, the individual is a licensed
    or certified provider of services in the fields of family practice,
    general internal medicine, general pediatrics, or obstetrics and
    gynecology.''.

SEC. 9. DUE PROCESS FOR LOSS OF COVERAGE.

    Section 224(i)(1) (42 U.S.C. 233(i)(1)) is amended by striking
``may determine, after notice and opportunity for a hearing'' and
inserting ``may on the record determine, after notice and opportunity
for a full and fair hearing''.

SEC. 10. AMOUNT OF RESERVE FUND.

    Section 224(k)(2) (42 U.S.C. 223(k)(2)) is amended by striking
``$30,000,000'' and inserting ``$10,000,000''.

SEC. 11. REPORT ON RISK EXPOSURE OF COVERED ENTITIES.

    Section 224 (as amended by section 7) is amended by adding at the
end thereof the following subsection:
    ``(n)(1) Not later than one year after the date of the enactment of
the Federally Supported Health Centers Assistance Act of 1995, the
Comptroller General of the United States shall submit to the Congress a
report on the following:
        ``(A) The medical malpractice liability claims experience of
    entities that have been deemed to be employees for purposes of this
    section.
        ``(B) The risk exposure of such entities.
        ``(C) The value of private sector risk-management services, and
    the value of risk-management services and procedures required as a
    condition of receiving a grant under section 329, 330, 340, or
    340A.
        ``(D) A comparison of the costs and the benefits to taxpayers
    of maintaining medical malpractice liability coverage for such
    entities pursuant to this section, taking into account--
            ``(i) a comparison of the costs of premiums paid by such
        entities for private medical malpractice liability insurance
        with the cost of coverage pursuant to this section; and
            ``(ii) an analysis of whether the cost of premiums for
        private medical malpractice liability insurance coverage is
        consistent with the liability claims experience of such
        entities.
    ``(2) The report under paragraph (1) shall include the following:
        ``(A) A comparison of--
            ``(i) an estimate of the aggregate amounts that such
        entities (together with the officers, governing board members,
        employees, and contractors of such entities who have been
        deemed to be employees for purposes of this section) would have
        directly or indirectly paid in premiums to obtain medical
        malpractice liability insurance coverage if this section were
        not in effect; with
            ``(ii) the aggregate amounts by which the grants received
        by such entities under this Act were reduced pursuant to
        subsection (k)(2).
        ``(B) A comparison of--
            ``(i) an estimate of the amount of privately offered such
        insurance that such entities (together with the officers,
        governing board members, employees, and contractors of such
        entities who have been deemed to be employees for purposes of
        this section) purchased during the three-year period beginning
        on January 1, 1993; with
            ``(ii) an estimate of the amount of such insurance that
        such entities (together with the officers, governing board
        members, employees, and contractors of such entities who have
        been deemed to be employees for purposes of this section) will
        purchase after the date of the enactment of the Federally
        Supported Health Centers Assistance Act of 1995.
        ``(C) An estimate of the medical malpractice liability loss
    history of such entities for the 10-year period preceding October
    1, 1996, including but not limited to the following:
            ``(i) Claims that have been paid and that are estimated to
        be paid, and legal expenses to handle such claims that have
        been paid and that are estimated to be paid, by the Federal
        Government pursuant to deeming entities as employees for
        purposes of this section.
            ``(ii) Claims that have been paid and that are estimated to
        be paid, and legal expenses to handle such claims that have
        been paid and that are estimated to be paid, by private medical
        malpractice liability insurance.
      ``(D) An analysis of whether the cost of premiums for private
    medical malpractice liability insurance coverage is consistent with
    the liability claims experience of entities that have been deemed
    as employees for purposes of this section.
    ``(3) In preparing the report under paragraph (1), the Comptroller
General of the United States shall consult with public and private
entities with expertise on the matters with which the report is
concerned.''.

                               Speaker of the House of Representatives.

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

Output:
Federally Supported Health Centers Assistance Act of 1995 - Amends the Public Health Service Act to remove provisions ending, on a specified date, the application of provisions:  (1) deeming health care practitioner officers, employees, or contractors of certain entities (migrant and community health centers and grant recipients for health services to the homeless and to residents of public housing) to be employees of the Public Health Service (PHS); and (2) making a malpractice action against the United States the sole remedy against such practitioners.  Adds governing board members to the list of practitioners deemed to be PHS employees.
Allows, in certain circumstances, deeming the practitioners to be PHS employees while treating individuals who are not patients of such entities.
Requires approval of an application for the deeming.  Sets forth an application process.
Directs the Attorney General to appear in State court actions to advise the court whether an officer, governing board member, employee, or contractor has been deemed to be an employee of the Public Health Service.
Provides for the application of coverage to managed care plans.
Revises the requirements:  (1) to be considered a contractor of such an entity; and (2) of due process regarding exclusion of specific individuals from coverage.
Reduces the maximum limit on the fund set up to cover annual estimated claims.
Requires the Comptroller General to report to the Congress on:  (1) the claims experience of entities deemed to be employees under this Act; (2) the risk exposure of those entities; (3) the value of private sector risk management services; and (4) certain comparisons, analyses, and estimates related to this Act.


Input:
SECTION 1. SHORT TITLE.
    This Act may be cited as the ``United States-Israel Enhanced
Security Cooperation Act of 2012''.
SEC. 2. FINDINGS.
    Congress makes the following findings:
        (1) Since 1948, United States Presidents and both houses of
    Congress, on a bipartisan basis and supported by the American
    people, have repeatedly reaffirmed the special bond between the
    United States and Israel, based on shared values and shared
    interests.
        (2) The Middle East is undergoing rapid change, bringing with
    it hope for an expansion of democracy but also great challenges to
    the national security of the United States and our allies in the
    region, particularly to our most important ally in the region,
    Israel.
        (3) The Government of the Islamic Republic of Iran is
    continuing its decades-long pattern of seeking to foment
    instability and promote extremism in the Middle East, particularly
    in this time of dramatic political transition.
        (4) At the same time, the Government of the Islamic Republic of
    Iran continues to enrich uranium in defiance of multiple United
    Nations Security Council resolutions.
        (5) A nuclear-weapons capable Iran would fundamentally threaten
    vital United States interests, encourage regional nuclear
    proliferation, further empower Iran, the world's leading state
    sponsor of terror, and pose a serious and destabilizing threat to
    Israel and the region.
        (6) Over the past several years, with the assistance of the
    Governments of the Islamic Republic of Iran and Syria, Hizbollah
    and Hamas have increased their stockpile of rockets, with more than
    60,000 now ready to be fired at Israel. The Government of the
    Islamic Republic of Iran continues to add to its arsenal of
    ballistic missiles and cruise missiles, which threaten Iran's
    neighbors, Israel, and United States Armed Forces in the region.
        (7) As a result, Israel is facing a fundamentally altered
    strategic environment.
        (8) Pursuant to chapter 5 of title 1 of the Emergency Wartime
    Supplemental Appropriations Act, 2003 (Public Law 108-11; 117 Stat.
    576), the authority to make available loan guarantees to Israel is
    currently set to expire on September 30, 2012.
SEC. 3. STATEMENT OF POLICY.
    It is the policy of the United States:
        (1) To reaffirm our unwavering commitment to the security of
    the State of Israel as a Jewish state. As President Barack Obama
    stated on December 16, 2011, ``America's commitment and my
    commitment to Israel and Israel's security is unshakeable.'' And as
    President George W. Bush stated before the Israeli Knesset on May
    15, 2008, on the 60th anniversary of the founding of the State of
    Israel, ``The alliance between our governments is unbreakable, yet
    the source of our friendship runs deeper than any treaty.''.
        (2) To help the Government of Israel preserve its qualitative
    military edge amid rapid and uncertain regional political
    transformation.
        (3) To veto any one-sided anti-Israel resolutions at the United
    Nations Security Council.
        (4) To support Israel's inherent right to self-defense.
        (5) To pursue avenues to expand cooperation with the Government
    of Israel both in defense and across the spectrum of civilian
    sectors, including high technology, agriculture, medicine, health,
    pharmaceuticals, and energy.
        (6) To assist the Government of Israel with its ongoing efforts
    to forge a peaceful, negotiated settlement of the Israeli-
    Palestinian conflict that results in two states living side-by-side
    in peace and security, and to encourage Israel's neighbors to
    recognize Israel's right to exist as a Jewish state.
        (7) To encourage further development of advanced technology
    programs between the United States and Israel given current trends
    and instability in the region.
SEC. 4. UNITED STATES ACTIONS TO ASSIST IN THE DEFENSE OF ISRAEL AND
PROTECT UNITED STATES INTERESTS.
    It is the sense of Congress that the United States Government
should take the following actions to assist in the defense of Israel:
        (1) Seek to enhance the capabilities of the Governments of the
    United States and Israel to address emerging common threats,
    increase security cooperation, and expand joint military exercises.
        (2) Provide the Government of Israel such support as may be
    necessary to increase development and production of joint missile
    defense systems, particularly such systems that defend against the
    urgent threat posed to Israel and United States forces in the
    region.
        (3) Provide the Government of Israel assistance specifically
    for the production and procurement of the Iron Dome defense system
    for purposes of intercepting short-range missiles, rockets, and
    projectiles launched against Israel.
        (4) Provide the Government of Israel defense articles and
    defense services through such mechanisms as appropriate, to include
    air refueling tankers, missile defense capabilities, and
    specialized munitions.
        (5) Provide the Government of Israel additional excess defense
    articles, as appropriate, in the wake of the withdrawal of United
    States forces from Iraq.
        (6) Examine ways to strengthen existing and ongoing efforts,
    including the Gaza Counter Arms Smuggling Initiative, aimed at
    preventing weapons smuggling into Gaza pursuant to the 2009
    agreement following the Israeli withdrawal from Gaza, as well as
    measures to protect against weapons smuggling and terrorist threats
    from the Sinai Peninsula.
        (7) Offer the Air Force of Israel additional training and
    exercise opportunities in the United States to compensate for
    Israel's limited air space.
        (8) Work to encourage an expanded role for Israel with the
    North Atlantic Treaty Organization (NATO), including an enhanced
    presence at NATO headquarters and exercises.
        (9) Expand already-close intelligence cooperation, including
    satellite intelligence, with Israel.
SEC. 5. ADDITIONAL STEPS TO DEFEND ISRAEL AND PROTECT AMERICAN
INTERESTS.
    (a) Extension of War Reserves Stockpile Authority.--
        (1) Department of defense appropriations act, 2005.--Section
    12001(d) of the Department of Defense Appropriations Act, 2005
    (Public Law 108-287; 118 Stat. 1011) is amended by striking ``more
    than 8 years after'' and inserting ``more than 10 years after''.
        (2) Foreign assistance act of 1961.--Section 514(b)(2)(A) of
    the Foreign Assistance Act of 1961 (22 U.S.C. 2321h(b)(2)(A)) is
    amended by striking ``fiscal years 2011 and 2012'' and inserting
    ``fiscal years 2013 and 2014''.
    (b) Extension of Loan Guarantees to Israel.--Chapter 5 of title I
of the Emergency Wartime Supplemental Appropriations Act, 2003 (Public
Law 108-11; 117 Stat. 576) is amended under the heading ``Loan
Guarantees to Israel''--
        (1) in the matter preceding the first proviso, by striking
    ``September 30, 2011'' and inserting ``September 30, 2015''; and
        (2) in the second proviso, by striking ``September 30, 2011''
    and inserting ``September 30, 2015''.
SEC. 6. REPORTS REQUIRED.
    (a) Report on Israel's Qualitative Military Edge (QME).--
        (1) In general.--Not later than 180 days after the date of the
    enactment of this Act, the President shall submit to the Committee
    on Foreign Relations of the Senate and the Committee on Foreign
    Affairs of the House of Representatives a report on the status of
    Israel's qualitative military edge in light of current trends and
    instability in the region.
        (2) Substitution for quadrennial report.--If submitted within
    one year of the date that the first quadrennial report required by
    section 201(c)(2) of the Naval Vessel Transfer Act of 2008 (Public
    Law 110-429; 22 U.S.C. 2776 note) is due to be submitted, the
    report required by paragraph (1) may substitute for such
    quadrennial report.
    (b) Reports on Other Matters.--Not later than 180 days after the
date of the enactment of this Act, the President shall submit to the
appropriate congressional committees a report on each of the following
matters:
        (1) Taking into account the Government of Israel's urgent
    requirement for F-35 aircraft, actions to improve the process
    relating to its purchase of F-35 aircraft, particularly with
    respect to cost efficiency and timely delivery.
        (2) Efforts to expand cooperation between the United States and
    Israel in homeland security, counter-terrorism, maritime security,
    energy, cyber-security, and other related areas.
        (3) Actions to integrate Israel into the defense of the Eastern
    Mediterranean.
SEC. 7. DEFINITIONS.
    In this Act:
        (1) Appropriate congressional committees.--The term
    ``appropriate congressional committees'' means--
            (A) the Committee on Appropriations, the Committee on Armed
        Services, the Committee on Foreign Relations, and the Select
        Committee on Intelligence of the Senate; and
            (B) the Committee on Appropriations, the Committee on Armed
        Services, the Committee on Foreign Affairs, and the Permanent
        Select Committee on Intelligence of the House of
        Representatives.
        (2) Qualitative military edge.--The term ``qualitative military
    edge'' has the meaning given the term in section 36(h)(2) of the
    Arms Export Control Act (22 U.S.C. 2776(h)(2)).

                               Speaker of the House of Representatives.

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

Output:
(This measure has not been amended since it was reported to the Senate on June 27, 2012. The summary of that version is repeated here.)

United States-Israel Enhanced Security Cooperation Act of 2012 - (Sec. 3) States that it is U.S. policy to: (1) reaffirm the commitment to Israel's security as a Jewish state, (2) support Israel's right to self-defense and help Israel preserve its qualitative military edge, (3) expand military and civilian cooperation, (4) assist in a negotiated settlement of the Israeli-Palestinian conflict that results in two states living side-by-side in peace and security, and (5) veto any one-sided anti-Israel U.N. Security Council resolutions.

(Sec. 4) Expresses the sense of Congress that the United States should take specified actions to assist in Israel's defense, including: (1) enhancing development and production of joint missile defense systems, (2) providing appropriate defense articles and services, (3) strengthening security initiatives and bilateral training exercises, and (4) encouraging an expanded role for Israel with the North Atlantic Treaty Organization (NATO).

(Sec. 5) Amends the Department of Defense Appropriations Act, 2005 to extend authority to transfer certain obsolete or surplus Department of Defense (DOD) items to Israel. Amends the Foreign Assistance Act of 1961 to extend authority to make additions to foreign-based defense stockpiles. Amends the Emergency Wartime Supplemental Appropriations Act, 2003 to extend specified loan guarantee authority to Israel.

(Sec. 6) Directs the President to submit reports to Congress regarding: (1) the status of Israel's qualitative military edge; (2) actions that could improve the process related to Israel's purchase of F-35 aircraft; (3) cooperation between the United States and Israel in homeland security, counter-terrorism, maritime security, energy, cyber-security, and other related areas; and (4) actions to integrate Israel into the defense of the Eastern Mediterranean.


Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Interest on Business Checking Act of
2001''.

SEC. 2. AMENDMENTS RELATING TO DEMAND DEPOSIT ACCOUNTS AT DEPOSITORY
              INSTITUTIONS.

    (a) Interest-Bearing Transaction Accounts Authorized.--
            (1) Federal reserve act.--Section 19(i) of the Federal
        Reserve Act (12 U.S.C. 371a) is amended by adding at the end
        the following: ``Notwithstanding any other provision of this
        section, a member bank may permit the owner of any deposit, any
        account which is a deposit, or any account on which interest or
        dividends are paid, to make not more than 24 transfers per
        month (or such greater number as the Board may determine by
        rule or order), for any purpose, to a demand deposit account of
        the owner in the same institution. With respect to an escrow
        account maintained in connection with a loan, a lender or
        servicer shall pay interest on such account only if such
        payments are required by contract between the lender or
        servicer and the borrower, or a specific statutory provision of
        the law of the State in which the security property is located
        requires the lender or servicer to make such payments. Nothing
        in this subsection shall be construed to prevent an account
        offered pursuant to this subsection from being considered a
        transaction account for purposes of this Act.''.
            (2) Home owners' loan act.--Section 5(b)(1) of the Home
        Owners' Loan Act (12 U.S.C. 1464 (b)(1)) is amended by adding
        at the end the following:
                    ``(G) Transfers.--
                            ``(i) In general.--Notwithstanding any
                        other provision of this paragraph, a Federal
                        savings association may permit the owner of any
                        deposit or share, any account which is a
                        deposit or share, or any account on which
                        interest or dividends are paid, to make not
                        more than 24 transfers per month (or such
                        greater number as the Board of Governors of the
Federal Reserve System may determine by rule or order under section
19(i) of the Federal Reserve Act to be permissible for member banks),
for any purpose, to a demand deposit account of the owner in the same
institution.
                            ``(ii) Escrow accounts.--With respect to an
                        escrow account maintained in connection with a
                        loan, a lender or servicer shall pay interest
                        on such account only if--
                                    ``(I) such payments are required by
                                contract between the lender or servicer
                                and the borrower; or
                                    ``(II) a specific statutory
                                provision of the law of the State in
                                which the security property is located
                                requires the lender or servicer to make
                                such payments.
                            ``(iii) Limitation.--Nothing in this
                        subsection shall be construed to prevent an
                        account offered pursuant to this subsection
                        from being considered a transaction account (as
                        defined in section 19(b) of the Federal Reserve
                        Act) for purposes of the Federal Reserve
                        Act.''.
            (3) Federal deposit insurance act.--Section 18(g) of the
        Federal Deposit Insurance Act (12 U.S.C. 1828(g)) is amended by
        adding at the end the following:
            ``(3) Transfers.--
                    ``(A) In general.--Notwithstanding any other
                provision of this subsection, an insured nonmember bank
                or insured State savings association may permit the
                owner of any deposit or share, any account which is a
                deposit or share, or any account on which interest or
                dividends are paid to make not more than 24 transfers
                per month (or such greater number as the Board of
                Governors of the Federal Reserve System may determine
                by rule or order under section 19(i) of the Federal
                Reserve Act to be permissible for member banks), for
                any purpose, to a demand deposit account of the owner
                in the same institution.
                    ``(B) Escrow accounts.--With respect to an escrow
                account maintained in connection with a loan, a lender
                or servicer shall pay interest on such account only
                if--
                            ``(i) such payments are required by
                        contract between the lender or servicer and the
                        borrower; or
                            ``(ii) a specific statutory provision of
                        the law of the State in which the security
                        property is located requires the lender or
                        servicer to make such payments.
                    ``(C) Limitation.--Nothing in this subsection shall
                be construed to prevent an account offered pursuant to
                this subsection from being considered a transaction
                account (as defined in section 19(b) of the Federal
                Reserve Act) for purposes of the Federal Reserve
                Act.''.
    (b) Repeal of Prohibition on Payment of Interest on Demand
Deposits.--
            (1) Federal reserve act.--Section 19(i) of the Federal
        Reserve Act (12 U.S.C. 371a) is amended to read as follows:
    ``(i) [Repealed].''.
            (2) Home owners' loan act.--Section 5(b)(1) of the Home
        Owners' Loan Act (12 U.S.C. 1464(b)(1)) is amended--
                    (A) in subparagraph (B), by striking ``savings
                association may not--'' and all that follows through
                ``(ii) permit any'' and inserting ``savings association
                may not permit any''; and
                    (B) by striking subparagraph (G).
            (3) Federal deposit insurance act.--Section 18(g) of the
        Federal Deposit Insurance Act (12 U.S.C. 1828(g)) is amended to
        read as follows:
    ``(g) [Repealed].''.
            (4) Effective date.--The amendments made by this subsection
        shall take effect at the end of the 2-year period beginning on
        the date of enactment of this Act.

SEC. 3. PAYMENT OF INTEREST ON RESERVES AT FEDERAL RESERVE BANKS.

    (a) In general.--Section 19(b) of the Federal Reserve Act (12
U.S.C. 461(b)) is amended by adding at the end the following:
            ``(12) Earnings on reserves.--
                    ``(A) In general.--Balances maintained at a Federal
                reserve bank by or on behalf of a depository
                institution to meet the reserve requirements of this
                subsection applicable with respect to such depository
                institution shall receive earnings to be paid by the
                Federal reserve bank at least once each calendar
                quarter at a rate or rates not to exceed the general
                level of short term interest rates.
                    ``(B) Regulations relating to payments and
                distribution.--The Board may prescribe regulations
                concerning--
                            ``(i) the payment of earnings in accordance
                        with this paragraph;
                            ``(ii) the distribution of such earnings to
                        the depository institutions which maintain
                        balances at such banks or on whose behalf such
                        balances are maintained; and
                            ``(iii) the responsibilities of depository
                        institutions, Federal home loan banks, and the
                        National Credit Union Administration Central
                        Liquidity Facility with respect to the
                        crediting and distribution of earnings
                        attributable to balances maintained, in
                        accordance with subsection (c)(1)(B), in a
                        Federal reserve bank by any such entity on
                        behalf of depository institutions which are not
                        member banks.''.
    (b) Technical and Conforming Amendments.--
            (1) Section 19(b) of federal reserve act.--Section 19(b)(4)
        of the Federal Reserve Act (12 U.S.C. 461(b)(4)) is amended--
                    (A) by striking subparagraph (C); and
                    (B) by redesignating subparagraphs (D) and (E) as
                subparagraphs (C) and (D), respectively.
            (2) Section 19(c) of federal reserve act.--Section
        19(c)(1)(A) of the Federal Reserve Act (12 U.S.C. 461(c)(1)(A))
        is amended by striking ``subsection (b)(4)(C)'' and inserting
        ``subsection (b)''.

                                <greek-d>

Output: Interest on Business Checking Act of 2001 - Amends the Federal Reserve Act, the Home Owners' Loan Act, and the Federal Deposit Insurance Act to: (1) provide that a depository institution may permit owners of interest or dividend paying accounts to make up to 24 transfers monthly for any purpose to their other demand deposits in the same institution; and (2) repeal the proscription against the payment of interest on demand deposits.Prescribes conditions for interest payments on escrow accounts.Amends the Federal Reserve Act to require a Federal reserve bank to pay interest at least quarterly on any balance maintained by a depository institution at the reserve bank to meet its reserve requirements.