Summary: Export Promotion Act of 2010 - (Sec. 2) Directs the Secretary of Commerce to increase the number of full-time departmental employees whose primary responsibilities involve promoting or facilitating participation by U.S. businesses in the global marketplace and facilitating the entry into, or expansion of, such participation. Requires the Secretary to ensure that global marketplace promotional activities include promoting and facilitating participation by small and medium-sized manufacturing businesses. Authorizes appropriations. (Sec. 3) Authorizes appropriations for the Department of Commerce's program to improve access to the global marketplace for goods and services provided by rural businesses. (Sec. 4) Authorizes appropriations to the Secretary to promote or facilitate participation by U.S. businesses in the global marketplace and facilitate the entry into, or expansion of, such participation. Requires the Secretary to give preferences to activities that: (1) assist small and medium-sized businesses in the United States; and (2) will create or sustain the greatest number of jobs in the United States and obtain the maximum return on investment. (Sec. 5) Authorizes appropriations to expand ExporTech, a joint program of the Hollings Manufacturing Extension Partnership Program. (Sec. 6) Authorizes appropriations for the Manufacturing and Services unit of the International Trade Administration (ITA) of the Department of Commerce for the ITA's Market Development Cooperator Program. Requires, in the use of such funds, the same preference to be given to activities described in section 4, above. (Sec. 7) Amends the National Institute of Standards and Technology Act to authorize the Director of the National Institute of Standards and Technology (NIST), in making awards for the creation and support of regional centers for the transfer of manufacturing technology, to consider whether an applicant has significant potential for enhancing the competitiveness of small and medium-sized U.S. manufacturers in the global marketplace, and to give a preference to applicants for such projects. Authorizes the Director, in making awards under the technology innovation program, to make the same consideration. (Sec. 8) Expresses the sense of the Senate that the Secretary should enhance federal collaboration with the states on export promotion issues. (Sec. 9) Directs the Secretary to report to Congress on the tariff and nontariff barriers imposed by Colombia, the Republic of Korea, and Panama with respect to exports of U.S. firms, including small and medium-sized manufacturing firms.

export promotion act sec directs secretary commerce increase number time departmental employees primary responsibilities involve promoting facilitating participation businesses global marketplace facilitating entry expansion participation requires secretary ensure global marketplace promotional activities include promoting facilitating participation small medium sized manufacturing businesses authorizes appropriations sec authorizes appropriations department_of_commerce program improve access global marketplace goods services provided rural businesses sec authorizes appropriations secretary promote facilitate participation businesses global marketplace facilitate entry expansion participation requires secretary preferences activities assist small medium sized businesses united_states create sustain greatest number jobs united_states obtain maximum return investment sec authorizes appropriations expand joint program hollings_manufacturing_extension_partnership_program sec authorizes appropriations manufacturing services unit international_trade_administration department_of_commerce market development cooperator program requires use funds preference given activities described section sec amends national_institute_of_standards_and_technology_act authorize director national_institute_of_standards_and_technology nist making awards creation support regional centers transfer manufacturing technology consider applicant significant potential enhancing competitiveness small medium sized manufacturers global marketplace preference applicants projects authorizes director making awards technology innovation program consideration sec expresses sense senate secretary enhance federal collaboration states export promotion issues sec directs secretary report congress tariff nontariff barriers imposed colombia republic_of_korea panama respect exports firms including small medium sized manufacturing firms


Summary: Minority Business Development Improvements Act of 2010 - Requires the Director of the Minority Business Development Agency to establish the Minority Business Development Program to provide qualified minority businesses with technical assistance and contract procurement assistance. Outlines minority business qualification requirements for the Program, including that: (1) not less than 51% of the entity be directly and unconditionally owned or controlled by historically disadvantaged individuals; and (2) each officer or other individual exercising control over regular operations is a historically disadvantaged individual. Outlines specific types of technical assistance authorized under the Program. Authorizes the Director to enter into agreements for the fulfillment of federal procurement contracts by, and contracting opportunities for, qualified minority businesses. Provides contract limits. Allows the Director to terminate a qualified minority business from the Program under specified circumstances.

minority business development improvements act requires director minority_business_development_agency establish minority business development program provide qualified minority businesses technical assistance contract procurement assistance outlines minority business qualification requirements program including entity directly owned controlled historically disadvantaged individuals officer individual exercising control regular operations historically disadvantaged individual outlines specific types technical assistance authorized program authorizes director enter agreements fulfillment federal procurement contracts contracting opportunities qualified minority businesses provides contract limits allows director terminate qualified minority business program specified circumstances


Summary: Ticket Act - Prohibits any ticket issuer from prohibiting or restricting the resale or offering for resale of an event ticket by a lawful possessor. Includes among prohibited activities: (1) purporting to impose license or contractual terms on the initial sale that restrict the terms and conditions under which a ticket may be resold, and (2) requiring the purchaser of a ticket to agree not to resell the ticket or to resell the ticket only through an approved channel. Establishes consumer protection minimum standards applicable to all persons engaging in the trade or business of acting as a ticket issuer, engaging in the resale of more than 25 event tickets in any one year, or providing a physical or electronic market for the sale or resale of event tickets by other persons. Includes within such standards requirements to: (1) maintain a toll-free telephone number for complaints and inquiries, and (2) implement and publicize a standard refund policy that provides for a full refund under specified circumstances. Requires the Federal Trade Commission (FTC) to enforce a violation of this Act as an unfair or deceptive act or practice. Authorizes states to file civil actions to enforce this Act. Establishes damages for violations of this Act. Preempts any state or local law that limits the price at which an event ticket may be resold. Exempts from this Act: (1) sponsors or promoters of charitable events for which all tickets are distributed without charge; and (2) not-for-profit educational institutions for athletic events involving their athletes or teams with respect to tickets initially distributed to students, faculty, staff, or alumni without charge or to members of bona fide booster organizations.

ticket act prohibits ticket issuer prohibiting restricting resale offering resale event ticket lawful includes prohibited activities purporting impose license contractual terms initial sale restrict terms conditions ticket requiring purchaser ticket agree resell ticket resell ticket approved channel establishes consumer protection minimum standards applicable persons engaging trade business acting ticket issuer engaging resale event tickets year providing physical electronic market sale resale event tickets persons includes standards requirements maintain toll free telephone number complaints inquiries implement publicize standard refund policy provides refund specified circumstances requires federal_trade_commission ftc enforce violation act unfair deceptive act practice authorizes states file civil actions enforce act establishes damages violations act preempts state local law limits price event ticket exempts act sponsors promoters charitable events tickets distributed charge profit educational institutions athletic events involving athletes teams respect tickets initially distributed students faculty staff alumni charge members bona fide booster organizations


Summary: Regulation Moratorium Act of 2011 - Prohibits any federal department or agency from putting into force any rule until January 31, 2013, except a rule which involves U.S. military or foreign affairs functions or matters relating to agency management or personnel or to public property, loans, grants, benefits, or contracts or for which notice of proposed rulemaking is not otherwise required.

regulation moratorium act prohibits federal department agency putting force rule january rule involves military foreign affairs functions matters relating agency management personnel public property loans grants benefits contracts notice_of_proposed_rulemaking required


Summary: Minority Business Development Improvements Act of 2011 - Requires the Director of the Minority Business Development Agency to establish the Minority Business Development Program to provide qualified minority businesses with technical assistance and contract procurement assistance. Outlines minority business qualification requirements for the Program, including that: (1) not less than 51% of the entity be directly and unconditionally owned by historically disadvantaged individuals, and (2) each officer or other individual exercising control over regular operations is a historically disadvantaged individual. Outlines specific types of technical assistance authorized under the Program. Authorizes the Director to enter into agreements for the fulfillment of federal procurement contracts by, and contracting opportunities for, qualified minority businesses. Provides contract limits. Allows the Director to terminate a qualified minority business from the Program under specified circumstances.

minority business development improvements act requires director minority_business_development_agency establish minority business development program provide qualified minority businesses technical assistance contract procurement assistance outlines minority business qualification requirements program including entity directly owned historically disadvantaged individuals officer individual exercising control regular operations historically disadvantaged individual outlines specific types technical assistance authorized program authorizes director enter agreements fulfillment federal procurement contracts contracting opportunities qualified minority businesses provides contract limits allows director terminate qualified minority business program specified circumstances


Summary: Amends the Sarbanes-Oxley Act of 2002 to make Public Company Accounting Oversight Board disciplinary proceedings public unless the Board, on its own motion or after considering the motion of a party, orders otherwise.

amends sarbanes-oxley_act public_company_accounting_oversight_board disciplinary proceedings public board motion considering motion party orders


Summary: America Innovates Act of 2012 - Establishes in the executive branch an independent agency called the American Innovation Bank. Directs the Bank to award competitive grants and loans to institutions of higher education, nonprofit research institutions, individual investigators, and private companies to develop new science and engineering discoveries into new companies, products, or jobs. Amends the National Science Foundation Authorization Act of 2010 to require the Director of the National Science Foundation (NSF) to award competitive grants to: (1) Integrative Graduate Education and Research Traineeship program-funded institutions of higher education to support students who perform their graduate research in an industry setting, and (2) institutions of higher education to develop professional science masters programs. Prescribes certain training requirements for students who receive funding under an NSF graduate research fellowship, a National Institutes of Health (NIH) national research service award, or any federal program that provides funding to train graduate students for careers in scientific research and development.

america act establishes executive branch independent agency called american innovation bank directs bank award competitive grants loans institutions higher education nonprofit research institutions individual investigators private companies develop new science engineering discoveries new companies products jobs amends national_science_foundation_authorization_act require director national_science_foundation nsf award competitive grants integrative graduate education research_traineeship program funded institutions higher education support students perform graduate research industry setting institutions higher education develop professional science masters programs prescribes certain training requirements students receive funding nsf graduate research fellowship national_institutes_of_health nih national research service award federal program provides funding train graduate students careers scientific research development


Summary: Early-Stage Business Investment and Incubation Act of 2011 - Directs the Assistant Secretary of Commerce for Economic Development to establish an early-stage business investment and incubation grant program (program) to support the development of early-stage businesses engaged primarily in the research, development, manufacturing, production, or marketing of specified technologies, aerospace, communications, or transportation. Limits individual grants to $5 million. Requires each grant recipient under the program to: (1) designate an individual as the grant fund manager; (2) establish a grant investment committee; and (3) assign to each assisted business a grant collaborator. Directs the Assistant Secretary to monitor and evaluate program effectiveness.

early stage business investment act directs assistant secretary commerce economic development establish early stage business investment grant program program support development early stage businesses engaged primarily research development manufacturing production marketing specified technologies aerospace communications transportation limits individual grants million requires grant recipient program designate individual grant fund manager establish grant investment committee assign assisted business grant directs assistant secretary monitor evaluate program effectiveness


Summary: Help Entrepreneurs Create American Jobs Act of 2013 - Amends the Internal Revenue Code to make the increase (from $5,000 to $10,000) in the tax deduction for the start-up expenditures of an active trade or business permanent (currently, limited to taxable years beginning in 2010).

help entrepreneurs create american_jobs act amends_the_internal_revenue_code increase tax deduction start expenditures active trade business permanent currently limited taxable years beginning


Summary: Support Our Startups Act of 2013 - Amends the Internal Revenue Code to allow an increased tax deduction for business start-up expenditures in 2013 and 2014

support startups act amends_the_internal_revenue_code allow increased tax deduction business start expenditures


Summary:
Innocent Sellers Fairness Act - Exempts a lawful seller from liability for personal injury, monetary loss, or damage to property arising out of an accident or transaction involving a seller's products, unless the claimant proves one or more of the following activities by the seller:

 the seller was the manufacturer or participated in the design or installation of the product; the seller altered, modified, or expressly warranted the product in a manner not authorized by the manufacturer; the seller had actual knowledge of the defect in the product as a result of a recall from the manufacturer or governmental entity authorized to make such recall or actual inspection at the time the seller sold the product to the claimant; the seller had actual knowledge of the defect in the product at the time the seller supplied the product; the seller intentionally altered or modified a product warranty, warning, or instruction from the manufacturer in a way not authorized by the manufacturer; or the seller knowingly made a false representation about an aspect of the product not authorized by the manufacturer. Limits the seller's liability to the personal injury, monetary loss, or damage to property directly caused by such activity where a claimant proves one or more of such activities was negligent.

innocent sellers fairness act exempts lawful seller liability personal injury monetary loss damage property arising accident transaction involving seller products claimant proves following activities seller seller manufacturer participated design installation product seller altered modified expressly warranted product manner authorized manufacturer seller actual knowledge defect product result recall manufacturer governmental entity authorized recall actual inspection time seller sold product claimant seller actual knowledge defect product time seller supplied product seller intentionally altered modified product warranty warning instruction manufacturer way authorized manufacturer seller knowingly false representation aspect product authorized manufacturer limits seller liability personal injury monetary loss damage property directly caused activity claimant proves activities negligent


Summary:
New Fair Deal Banking and Housing Stability Act of 2013 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (FHEFSSA), the Federal National Mortgage Association Charter Act (FNMACA), and the Federal Home Loan Mortgage Corporation Act (FHLMCA) to repeal housing goals and related provisions, including the Housing Trust Fund and the Capital Magnet Fund, with respect to the  Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises) (GSEs).

Amends the FNMACA and the FHLMCA to limit Fannie Mae and Freddie Mac mortgage purchases on property comprising 1- to 4-family dwelling units.

Amends the FHLMCA to repeal the authority of banking entities with respect to Freddie Mac transactions.

Amends the FNMACA and the FHLMCA to: (1) reduce GSE conforming loan limits, and (2) set a loan-to-value limitation on GSE mortgage purchases.

Amends the FHEFSSA to: (1) replace mandatory risk-based standards for GSEs with mandatory non-risk-based standards, and (2) increase the minimum and critical capital levels for GSEs.

Amends the Housing and Community Development Act of 1992 to place specified restrictions on the mortgage assets owned by GSEs

Repeals the FNMACA and the FHLMCA, and denies Fannie Mae and Freddie Mac any authority to conduct new business.

Pledges the full faith and credit of the United States to pay all amounts which may be required under existing Fannie Mae and Freddie Mac obligations. Prescribes requirements for winding down Fannie Mae and Freddie Mac operations.

Amends the National Housing Act to revise requirements for Federal Housing Administration (FHA) credit programs and: (1) require mortgagees to repurchase defaulted mortgages in certain circumstances, (2) prohibit mortgage insurance for cash-out refinancings, and (3) prohibit mortgage insurance on a 1- to 4-family residential property for which the seller contributes more than 3% of the total closing costs toward the purchaser's acquisition of the property.

Reduces guarantees of mortgages by requiring an increase in FHA downpayment requirements.

Terminates FHA credit guarantees five years after enactment of this Act, and transfers FHA functions to the Secretary of the Treasury.

Amends the FNMACA to limit Government National Mortgage Association (Ginnie Mae) guarantees.

Abolishes Ginnie Mae and transfers all of its functions to the Secretary.

Repeals the Community Reinvestment Act of 1977, the Home Mortgage Disclosure Act of 1975, certain risk retention requirements of the Dodd-Frank Wall Street Reform And Consumer Protection Act, the Affordable Housing Program of the Federal Deposit Insurance Act (FDIA), and other specified federal law.

Repeals transportation planning requirements and rescinds unobligated balances of funds made available to carry them out.

Terminates Department of Housing and Urban Development (HUD) sustainable communities initiatives and makes a similar related rescission.

Requires the appropriate federal regulators to set the capital standards for financial companies, which shall maintain sufficient capital to remain adequately capitalized.

Amend the FDIA to: (1) reduce from $250,000 to $150,000 the amount of the standard maximum deposit insurance amount of the Federal Deposit Insurance Corporation (FDIC), and (2) repeal FDIC Administrator authority to make systemic risk determinations.

Amends the Federal Reserve Act to repeal the unusual and exigent authority of the Board of Governors of the Federal Reserve.

Renames the stabilization fund in the Treasury as the Special Drawing Rights Fund, and directs the Secretary to liquidate all property in the Fund, other than Special Drawing Rights, and to use all such amounts to reduce the public debt.

Expresses the sense of Congress that the appropriate congressional committees should each report legislation proposing changes to existing law to accommodate bankruptcy proceedings for failing multinational financial institutions.

new fair deal banking housing stability act amends federal_housing_enterprises_financial_safety soundness act federal_national_mortgage_association charter act federal_home_loan_mortgage_corporation_act repeal housing goals related provisions including housing_trust_fund capital_magnet_fund respect federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac government sponsored enterprises gses amends limit fannie_mae freddie_mac mortgage purchases property comprising family dwelling units amends repeal authority banking entities respect freddie_mac transactions amends reduce gse conforming loan limits set loan value limitation gse mortgage purchases amends replace mandatory risk based standards gses mandatory non risk based standards increase minimum critical capital levels gses amends housing_and_community_development_act place specified restrictions mortgage assets owned gses repeals denies fannie_mae freddie_mac authority conduct new business pledges faith credit united_states pay amounts required existing fannie_mae freddie_mac obligations prescribes requirements winding fannie_mae freddie_mac operations amends national housing act revise requirements federal_housing_administration fha credit programs require mortgagees repurchase defaulted mortgages certain circumstances prohibit mortgage insurance cash refinancings prohibit mortgage insurance family residential property seller contributes total closing costs purchaser acquisition property reduces guarantees mortgages requiring increase fha downpayment requirements terminates fha credit guarantees years enactment act transfers fha functions secretary treasury amends limit government_national_mortgage_association ginnie_mae guarantees abolishes ginnie_mae transfers functions secretary repeals community reinvestment act home_mortgage disclosure act certain risk retention requirements dodd-frank_wall_street_reform consumer protection act affordable housing program federal_deposit_insurance_act fdia specified federal law repeals transportation planning requirements rescinds unobligated balances funds available carry terminates department_of_housing_and_urban_development hud sustainable communities initiatives makes similar related rescission requires appropriate federal regulators set capital standards financial companies shall maintain sufficient capital remain adequately capitalized amend fdia reduce standard maximum deposit insurance federal_deposit_insurance_corporation fdic repeal fdic administrator authority systemic risk determinations amends federal_reserve_act repeal unusual exigent authority board_of_governors federal_reserve renames stabilization fund treasury special_drawing_rights_fund directs secretary liquidate property fund special drawing rights use amounts reduce public debt expresses sense congress appropriate congressional committees report legislation proposing changes existing law accommodate bankruptcy proceedings failing multinational financial institutions


Summary:
American Jobs and Community Revitalization Act of 2015

Directs the Consumer Financial Protection Bureau (CFPB) to establish an application process under which a person who lives or does business in a state may apply to have an area in the state identified as a rural area if it has not yet been so designated by the CFPB for purposes of federal consumer financial law.

Prescribes criteria for the CFPB to consider when evaluating the application.Requires the CFPB to: (1) grant or deny the application within 90 days after the public comment period ends; and (2) publish the grant or denial in the Federal Register, including an explanation of the factors upon which the CFPB relied in making its determination.

Amends the Truth in Lending Act to create a safe harbor from lawsuit for creditors that are depository institutions for any failure to comply with certain requirements with respect to a residential mortgage loan, and the banking regulators are required to treat such a loan as a qualified mortgage, if the creditor has, since the loan's origination, held it on its balance sheet and all prepayment penalties with respect to the loan comply with specified limitations.

A safe harbor from lawsuit is also created for mortgage originators for steering a consumer to a residential mortgage loan if: (1) the creditor is a depository institution and has informed the mortgage originator that it intends to hold the loan on its balance sheet for the life of the loan, and (2) the mortgage originator informs the consumer that the creditor intends to do so.

Requires the Federal Deposit Insurance Corporation, the Office of Comptroller of the Currency, the Board of Governors of the Federal Reserve System, CFPB, the National Credit Union Administration, the Securities and Exchange Commission, and the Commodity Futures Trading Commission, before issuing a regulation or order, to assess other federal regulations and orders to determine whether the agency's proposal is in conflict with, is inconsistent with, or is duplicative of such other regulations or orders and whether such other federal regulations or orders are outdated.

Amends the Federal Deposit Insurance Act to double the maximum asset size of certain small insured depository institutions that qualify for an onsite examination by the appropriate federal banking agency every 18 months instead of every 12 months.

 Directs the Secretary of the Treasury to issue final rules to exempt depository institutions from reporting requirements with respect to a monetary instrument transaction involving a qualified customer.

Requires the Director of the Financial Crimes Enforcement Network (FinCEN) to report annually to Congress on how the FinCEN data access service and the information it collects are used to detect and prevent money laundering, terrorist financing, and other financial crimes.

Directs the Secretary to establish operating procedures with respect to the government-wide data access service and the FinCEN financial crimes communications center which provide for appropriate metrics to monitor, track, assess, and report on access to information in the FinCEN data access service.

Amends the Dodd-Frank Wall Street and Consumer Protection Act to direct the appropriate federal banking agencies to issue final regulations authorizing S corporation banks to make dividend distributions under their capital conservation buffer for payment of taxes arising from bank activities.

american_jobs community revitalization act directs consumer_financial_protection_bureau cfpb establish application process person lives business state apply area state identified rural area designated cfpb purposes federal consumer financial law prescribes criteria cfpb consider evaluating application requires cfpb grant deny application days public comment period ends publish grant denial federal_register including explanation factors cfpb relied making determination amends_the_truth_in_lending_act create safe harbor lawsuit creditors depository institutions failure comply certain requirements respect residential mortgage loan banking regulators required treat loan qualified mortgage creditor loan origination held balance sheet prepayment penalties respect loan comply specified limitations safe harbor lawsuit created mortgage originators steering consumer residential mortgage loan creditor depository institution informed mortgage originator intends hold loan balance sheet life loan mortgage originator informs consumer creditor intends requires federal_deposit_insurance_corporation office comptroller_of_the_currency board_of_governors federal_reserve_system cfpb national_credit_union_administration securities_and_exchange_commission commodity_futures_trading_commission issuing regulation order assess federal regulations orders determine agency proposal conflict inconsistent duplicative regulations orders federal regulations orders outdated amends federal_deposit_insurance_act double maximum asset size certain small insured depository institutions qualify onsite examination appropriate federal banking agency months instead months directs secretary treasury issue final rules exempt depository institutions reporting requirements respect monetary instrument transaction involving qualified customer requires director financial_crimes_enforcement_network fincen report annually congress fincen data access service information collects detect prevent money laundering terrorist financing financial crimes directs secretary establish operating procedures respect government wide data access service fincen financial crimes communications center provide appropriate metrics monitor track assess report access information fincen data access service amends dodd-frank wall street consumer protection act direct appropriate federal banking agencies issue final regulations authorizing corporation banks dividend distributions capital conservation buffer payment taxes arising bank activities


Summary:
Taking Account of Bureaucrats' Spending Act of 2016 or the TABS Act of 2016

(Sec. 2) This bill amends the Consumer Financial Protection Act of 2010 to eliminate provisions that fund the Consumer Financial Protection Bureau (CFPB) using transfers from the earnings of the Federal Reserve System. The transfers under current law permit the CFPB to be funded outside of the annual appropriations process, and this bill brings the CFPB into the regular process.

taking account spending act act sec bill amends consumer_financial_protection_act eliminate provisions fund consumer_financial_protection_bureau cfpb transfers earnings federal_reserve_system transfers current law permit cfpb funded outside annual appropriations process bill brings cfpb regular process


Summary:
This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal Title I (Financial Stability) and Title II (Orderly Liquidation Authority).

The bill revives or restores the provisions of law amended or repealed by such titles as if the titles had not been enacted.

bill amends dodd-frank_wall_street_reform consumer protection act repeal title financial stability title orderly liquidation authority bill revives restores provisions law amended repealed titles titles enacted


Summary:
(This measure has not been amended since it was passed by the Senate on October 6, 2015. The summary of that version is repeated here.)

(Sec. 2) This bill extends the authority of the Department of Commerce to conduct the quarterly financial report program through September 30, 2030, under which Commerce collects and publishes quarterly financial statistics of business operations, organization, practices, management, and relation to other businesses, including data on sales, expenses, assets, liabilities, and other measures of financial condition.

(Sec. 3) Commerce must conduct and report to specified congressional committees on a review of the data security procedures of the Bureau of the Census. Such report shall:

 identify all Bureau information systems that contain sensitive information; describe any actions carried out by Commerce or the Bureau to secure sensitive information since the data breaches of Office of Personnel Management systems were announced in 2015; identify any known data breaches of Bureau information systems that contain sensitive information; and identify whether the Bureau stores any information that, if combined with other information, would comprise classified information.

measure amended passed senate october summary version repeated sec bill extends authority department_of_commerce conduct quarterly financial report program september commerce collects publishes quarterly financial statistics business operations organization practices management relation businesses including data sales expenses assets liabilities measures financial condition sec commerce conduct report specified congressional committees review data_security procedures bureau_of_the_census report shall identify bureau information systems contain sensitive information describe actions carried commerce bureau secure sensitive information data breaches office_of_personnel_management systems announced identify known data breaches bureau information systems contain sensitive information identify bureau stores information combined information comprise classified information


Summary:
This bill amends the Consolidated and Further Continuing Appropriations Act, 2015 to increase from $18.75 billion to $23.5 billion the FY2015 funding available to the Small Business Administration (SBA) for general business loans authorized under section 7(a) of the Small Business Act.

 The bill prohibits the SBA from guaranteeing a loan on and after October 1, 2015, if:

 the lender determines that the borrower is unable to obtain credit elsewhere solely because the lender's liquidity depends upon the guaranteed portion of the loan being sold on the secondary market, or the sole purpose for requesting the guarantee is to allow the lender to exceed its legal lending limit. The bill also requires the SBA to submit quarterly reports to Congress regarding the loan programs carried out under this section.

bill amends consolidated continuing appropriations act increase billion billion fy2015 funding available small_business_administration sba general business loans authorized section small_business_act bill prohibits sba guaranteeing loan october lender determines borrower unable obtain credit solely lender liquidity guaranteed portion loan sold secondary market sole purpose requesting guarantee allow lender exceed legal lending limit bill requires sba submit quarterly reports congress loan programs carried section


Summary:
This bill amends the Internal Revenue Code to specify rules for applying the deduction for income from domestic production activities to contract manufacturing or production arrangements.

In a contract manufacturing or production arrangement, a person contracts with one or more unrelated persons for the manufacture, production, growth, or extraction of an item of qualifying production property (tangible personal property, computer software, and sound recordings) or film. The qualifying production property must be manufactured, produced, grown, or extracted in whole or significant part within the United States.

In an arrangement in which any person makes a substantial contribution through the activities of its employees within the United States to the manufacture, production, growth, or extraction of qualifying production property: (1) the person shall be treated as engaging in the activity, and (2) the domestic production gross receipts of the person shall include the gross receipts received under the arrangement for the activities.

The Internal Revenue Service must prescribe regulations that include specified factors for determining a substantial contribution.

A person with an economic risk of loss of more than 50% of the direct material costs necessary to the manufacture, production, growth, or extraction of the qualifying production is deemed to make a substantial contribution.

The parties to an arrangement may agree in writing to: (1) make only one person eligible for the deduction, or (2) apply the rules retroactively to tax years in which only one person claimed the deduction.

bill amends_the_internal_revenue_code specify rules applying deduction income domestic production activities contract manufacturing production arrangements contract manufacturing production arrangement person contracts unrelated persons manufacture production growth extraction item qualifying production property tangible personal property computer software sound recordings film qualifying production property manufactured produced grown extracted significant united_states arrangement person makes substantial contribution activities employees united_states manufacture production growth extraction qualifying production property person shall treated engaging activity domestic production gross receipts person shall include gross receipts received arrangement activities internal_revenue_service prescribe regulations include specified factors determining substantial contribution person economic risk loss direct material costs necessary manufacture production growth extraction qualifying production deemed substantial contribution parties arrangement agree writing person eligible deduction apply rules retroactively tax years person claimed deduction


Summary:
Small Financial Institution Advisory Committees Act of 2016

This bill establishes within the Department of the Treasury:

 the Community Bank Advisory Committee to advise Treasury about its efforts regarding legislation and regulation that affect financial institutions, federal departments and agencies that regulate or insure financial institutions, and securities markets, as these efforts relate to community banks; and the Credit Union Advisory Committee to advise Treasury about such efforts as they relate to credit unions.

small financial institution advisory committees act bill establishes department_of_the_treasury community bank advisory_committee advise treasury efforts legislation regulation affect financial institutions federal departments agencies regulate insure financial institutions securities markets efforts relate community banks credit union advisory_committee advise treasury efforts relate credit unions


Summary:
Start Taking Action on Lingering Liabilities Act or the STALL Act

This bill amends the Federal Trade Commission Act to require certain Federal Trade Commission (FTC) investigations involving civil investigative demands to terminate six months after the FTC sends a verifiable written communication to notify the subject of the investigation. The bill also provides an exception that allows such an investigation to continue beyond that six-month period if, before the period expires, the FTC: (1) sends an additional verifiable written communication, or (2) votes to extend the investigation.

start taking action liabilities act act bill amends federal_trade_commission_act require certain federal_trade_commission ftc investigations involving civil investigative demands terminate months ftc verifiable written communication notify subject investigation bill provides exception allows investigation continue month period period expires ftc additional verifiable written communication votes extend investigation


Summary:
Solidifying Habitual and Institutional Explanations of Liability and Defenses Act or the SHIELD Act

This bill amends the Federal Trade Commission Act to prohibit guidelines or general statements of policy issued by the Federal Trade Commission (FTC) from: (1) conferring rights upon any person, state, or locality; or (2) binding the FTC or any person, state, or locality to a recommended approach.

In enforcement actions, the FTC must prove a violation of a law enforced by the FTC. The FTC's enforcement actions or consent orders may not be based solely on allegations that acts or practices are inconsistent with guidelines or general policy statements unless the acts or practices violate FTC-enforced law.

Compliance with guidelines or general statements of policy may be used as evidence of compliance with a law under which the guidelines or statements were issued.

habitual institutional explanations liability defenses act shield act bill amends federal_trade_commission_act prohibit guidelines general statements policy issued federal_trade_commission ftc rights person state locality binding ftc person state locality recommended approach enforcement actions ftc prove violation law enforced ftc ftc enforcement actions consent orders based solely allegations acts practices inconsistent guidelines general policy statements acts practices violate ftc enforced law compliance guidelines general statements policy evidence compliance law guidelines statements issued


Summary:
Revealing Economic Conclusions for Suggestions Act or the RECS Act

This bill amends the Federal Trade Commission Act to prohibit the Federal Trade Commission (FTC) from submitting legislative or regulatory recommendations without an economic analysis by the FTC's Bureau of Economics sufficient to demonstrate that: (1) the FTC has identified a problem it determines should be addressed, including the rationale for the FTC's determination that private markets or public institutions could not adequately address the issue; and (2) the recommendation is based on a reasoned determination that its benefits outweigh its costs.

revealing economic conclusions suggestions act act bill amends federal_trade_commission_act prohibit federal_trade_commission ftc submitting legislative regulatory recommendations economic analysis ftc bureau economics sufficient demonstrate ftc identified problem determines addressed including rationale ftc determination private markets public institutions adequately address issue recommendation based reasoned determination benefits outweigh costs


Summary:
Make America Competitive Act of 2016

This bill amends the Internal Revenue Code to allow corporations to elect a 10% tax rate on their taxable income if such corporations: (1) offer their full-time employees group health insurance coverage, (2) offer such employees a defined contribution pension plan, (3) provide their employees with regular pay increases, and (4) make additional social security contributions for employees who do not have a defined benefit pension plan. Such corporations may also elect to repatriate their current and accumulated foreign earnings at a 5% tax rate.

The bill amends title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act to increase the primary insurance amount (the retirement benefit a social security recipient would receive if benefits are taken at normal retirement age) of employees for whom additional social security contributions are made under this bill.

america competitive act bill amends_the_internal_revenue_code allow corporations elect tax rate taxable income corporations offer time employees group health insurance coverage offer employees defined contribution pension plan provide employees regular pay increases additional social_security contributions employees defined benefit pension plan corporations elect repatriate current accumulated foreign earnings tax rate bill amends title old age survivors disability_insurance social_security_act increase primary insurance retirement benefit social_security recipient receive benefits taken normal retirement age employees additional social_security contributions bill


Summary:
Solidifying Habitual and Institutional Explanations of Liability and Defenses Act of 2016 or the SHIELD Act of 2016

This bill amends the Federal Trade Commission Act to prohibit the Federal Trade Commission (FTC) guidelines or general statements of policy related either to unfair methods of competition, or to unfair or deceptive acts or practices, in or affecting commerce from: (1) conferring rights upon any person, state, or locality; or (2) binding the FTC or any person, state, or locality to a recommended approach.

In enforcement actions, the FTC must prove a violation of a law enforced by the FTC. The FTC's enforcement actions or consent orders may not be based solely on allegations that acts or practices are inconsistent with guidelines or general policy statements unless the acts or practices violate FTC-enforced law.

Compliance with guidelines or general statements of policy may be used as evidence of compliance with a law under which the guidelines or statements were issued.

habitual institutional explanations liability defenses act shield act bill amends federal_trade_commission_act prohibit federal_trade_commission ftc guidelines general statements policy related unfair methods competition unfair deceptive acts practices affecting commerce rights person state locality binding ftc person state locality recommended approach enforcement actions ftc prove violation law enforced ftc ftc enforcement actions consent orders based solely allegations acts practices inconsistent guidelines general policy statements acts practices violate ftc enforced law compliance guidelines general statements policy evidence compliance law guidelines statements issued


Summary:
Enhancing Treasury's Anti-Terror Tools Act

(Sec. 2) This bill instructs the Department of the Treasury to report to Congress on the employment by U.S. embassies of full-time and temporary Treasury attaches and their role in advancing U.S. anti-terrorism financing interests, including concerning:

 how Treasury's interests relating to anti-terror finance, money laundering, and related illicit finance issues are handled at other embassies; issues identified by Treasury attaches concerning anti-terror finance, money laundering, and related illicit finance; recommendations to improve coordination between Treasury and foreign financial ministries of efforts to block the financing of terror, money laundering, and related illicit finance; and whether Treasury's interests relating to anti-terror finance, money laundering, or related illicit finance issues are thought to be underrepresented in some embassies or regions. (Sec. 3) The bill revises Treasury's authority to issue an order imposing recordkeeping and reporting requirements upon financial institutions and nonfinancial trade or business groups in certain geographic areas regarding transactions for the payment, receipt, or transfer of U.S. coins or currency (or other monetary instruments as Treasury may describe). Such an order may include all funds, not just U.S. coins or currency, involved in such transactions.

(Sec. 4) Treasury shall study:

 the advisability and implications of transforming the Office of Terrorism and Financial Intelligence into a stand-alone bureau of Treasury, the potential efficacy of requiring banking regulators to establish a pilot technical assistance program for depository institutions and credit unions that furnish account services to money services businesses serving individuals in Somalia and whether it could improve the ability of Americans to legitimately send funds through transparent and easily monitored channels, and the potential impact of allowing money services businesses to share their state examinations with depository institutions and credit unions. (Sec. 6) The bill expresses the sense of Congress that Treasury should work with finance ministry counterparts worldwide to spur the development of entities similar to its Office of Intelligence and Analysis to integrate the intelligence community with anti-money laundering and counter-terrorist financing efforts.

enhancing treasury anti terror tools act sec bill instructs department_of_the_treasury report congress employment embassies time temporary treasury role advancing anti terrorism financing interests including concerning treasury interests relating anti terror finance money laundering related illicit finance issues handled embassies issues identified treasury concerning anti terror finance money laundering related illicit finance recommendations improve coordination treasury foreign financial ministries efforts block financing terror money laundering related illicit finance treasury interests relating anti terror finance money laundering related illicit finance issues underrepresented embassies regions sec bill revises treasury authority issue order imposing recordkeeping reporting requirements financial institutions nonfinancial trade business groups certain geographic areas transactions payment receipt transfer coins currency monetary instruments treasury describe order include funds coins currency involved transactions sec treasury shall study advisability implications transforming office terrorism financial intelligence stand bureau treasury potential efficacy requiring banking regulators establish pilot technical assistance program depository institutions credit unions furnish account services money services businesses serving individuals somalia improve ability americans send funds transparent easily monitored channels potential impact allowing money services businesses share state examinations depository institutions credit unions sec bill expresses sense congress treasury work finance ministry counterparts worldwide spur development entities similar office_of_intelligence_and_analysis integrate intelligence_community anti money laundering counter terrorist financing efforts


Summary:
Middle Class Dependent Care Fairness Act of 2016

This bill amends the Internal Revenue Code to eliminate the mandatory reduction in the rate of the tax credit for household and dependent care services for taxpayers whose adjusted gross incomes exceed $15,000.

middle class dependent care fairness act bill amends_the_internal_revenue_code eliminate mandatory reduction rate tax credit household dependent care services taxpayers adjusted gross incomes exceed


Summary:
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Financial Regulatory Improvement Act of 2015

TITLE I--REGULATORY RELIEF AND PROTECTION OF CONSUMER ACCESS TO CREDIT

(Sec. 101) This bill amends the Gramm-Leach-Bliley Act to exempt from the requirement to provide consumers with an annual written disclosure of their privacy policy certain financial institutions that provide nonpublic personal information to a nonaffiliated third party to perform services for or functions on behalf of the financial institution.

(Sec. 102) The Federal Home Loan Bank Act is amended to set requirements for a credit union that has applied for membership in a Federal Home Loan Bank, but whose member accounts are not federally insured, to be treated nonetheless as an insured depository institution.

(Sec. 103) The Consumer Financial Protection Bureau (CFPB) shall establish a process under which a person who lives or does business in an area not CFPB-designated as rural may apply to the CFPB for a rural area designation. Evaluation criteria which the CFPB must consider are set forth.

(Sec. 104) The Federal Financial Institutions Examination Council Act of 1978 is amended to establish in the Financial Institutions Examination Council an Office of Independent Examination Review to investigate complaints concerning examinations, examination practices, or examination reports, as well as to conduct a continuing and regular program of examination quality assurance for all types of examinations conducted, by the federal financial institutions regulatory agencies.

The Riegle Community Development and Regulatory Improvement Act of 1994 is amended to require the CFPB to establish an independent intra-agency appellate process to ensure that safeguards exist to protect the insured depository institution or insured credit union from retaliation by a federal banking agency for exercising its rights.

The principle of retaliation is expanded to include delaying consideration of, or withholding approval of, any request, notice, or application that would have been approved but for the exercise of its rights by the insured depository institution or credit union.

(Sec. 106) The Truth in Lending Act (TILA) is amended to exempt certain creditors from civil liability, except in particular circumstances, for failure to comply with specified prohibitions with respect to a residential mortgage loan if among other things:

 the creditor (or any person acquiring the loan) has continued to hold the loan on its balance sheet since loan origination; the loan has not been acquired through a securitization; all prepayment penalties with respect to the loan comply with the limitations; the loan does not have negative amortization, interest-only features, or a loan term of over 30 years; and the creditor has documented the consumer's income, employment, assets, and credit history. The Federal Deposit Insurance Act (FDIA) is amended to require periodic federal banking agency reviews of either the mortgage portfolio or targeted segments of bank portfolios belonging to banks deemed systemically important if certain conditions arise including: (1) elevated risk, (2) increased delinquency and loss rates, (3) new lines of business emerge, (4) new acquisition channels, (5) rapid growth, or (6) an internal audit is inadequate.

(Sec. 107) The Government Accountability Office (GAO) shall study the effects of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) upon the availability and affordability of credit for consumers, small businesses, first-time homebuyers, and mortgage lending.

(Sec. 108) The TILA is further amended to exclude from the definition of mortgage originator subject to TILA requirements and prohibitions any retailer of manufactured or modular homes or its employees, unless one or the other of them receives compensation or gain for engaging in specified activities related to mortgage loan origination that exceeds compensation or gain received in a comparable cash transaction.

The criteria for a high-cost mortgage loan secured by a dwelling that is personal property, when the transaction is for less than $50,000, are revised to: (1) increase the percentage points involved from 8.5% to 10% and the maximum amount of the qualifying transaction to $75,000 (adjusted for inflation), and (2) include as an alternative any transaction that does not include the purchase of real property on which a dwelling is to be placed.

The total points and fees payable for such a transaction must exceed the greater of 5% of the total transaction amount or $3,000 (adjusted for inflation) to qualify the mortgage loan as high-cost.(Sec. 109) The FDIA is further amended with respect to mandatory on-site examinations to increase from $500 million to $1 billion the maximum asset size of small insured depository institutions eligible for 18-month onsite examinations.

(Sec. 110) The bill amends specified Acts to link to changes in the gross domestic product: (1) the size of insured depository institutions and insured credit unions subject to specified regulatory oversight (including the examination and reporting threshold required by the Consumer Financial Protection Act of 2010 [CFPA]), and (2) the size of small banks, savings associations, farm credit system institutions, and credit unions that may be exempt from swap or securities-based swap clearing requirements under the Commodity Exchange Act (CEA) and the Securities Exchange Act.

(Sec. 111) The Home Mortgage Disclosure Act of 1975 is amended to direct GAO to study the privacy risks of government publication of personal financial data.

 (Sec. 112) The TILA is amended to: (1) shield from civil liability a disclosure made in good faith pursuant to mandatory reporting of unethical or unprofessional conduct concerning consumer real estate appraisals, and (2) declare civil penalties inapplicable to violations of appraisal independence requirements.

 (Sec. 113) Mutual holding companies and grandfathered mutual holding companies may waive the receipt of dividends declared on the common stock of their bank or mid-size holding companies.

(Sec. 114) Any appraiser, employed to appraise a consumer's principal dwelling that will secure a consumer credit transaction but who voluntarily declines to receive a fee, shall not be treated as a fee appraiser with respect to appraisal independence requirements.

(Sec. 115) The Bank Holding Company Act of 1956 is amended to exclude from its prohibitions against proprietary trading and certain relationships with hedge funds and private equity funds any banking institution whose total consolidated assets amount to $10 billion or less if it is not controlled by a company whose total consolidated assets exceed $10 billion (adjusted for changes in the gross domestic product).

The appropriate federal banking agency for an insured depository institution with total consolidated assets of $10 billion or less may apply such prohibitions and restrictions to the activities of the insured depository institution that, but for this amendment, would be subject to them if those activities: (1) are inconsistent with traditional banking activities, or (2) because of their nature or volume pose a risk to the safety and soundness of the insured depository institution.

(Sec. 116) The federal banking agencies shall jointly study the appropriate capital requirements for mortgage servicing assets for banking institutions.

 (Sec. 117) The TILA is amended to allow a transaction to be consummated without regard to a certain three-day waiting period if a creditor extends to the consumer a second offer of credit with a lower annual percentage rate.

The CFPA is amended to shield from civil, criminal, or administrative action for failure to comply with certain mandatory disclosures relating to a consumer financial product or service any covered person that makes other specified disclosures under the TILA or the Real Estate Settlement Procedures Act of 1974 during a specified period before model disclosures are prescribed by the CFPB.

(Sec. 118) The S.A.F.E. Mortgage Licensing Act of 2008 is amended to deem registered loan originators moving from a financial institution to a non-bank originator, or moving interstate, to be state-licensed for the 120-day period after a state-licensed mortgage lender, mortgage banker, or mortgage servicer that is not a depository institution registers with the Nationwide Mortgage Licensing System and Registry that the registered loan originator is employed by it.

(Sec. 119) The FDIA is further amended to direct federal banking agencies to review reports of condition and jointly develop short form reports-of-condition that reduce or eliminate information or schedules currently required to be filed by an insured depository institution.

(Sec. 120) The Expedited Funds Availability Act is amended to: (1) define a receiving depository institution as the proprietary automated teller machine (ATM) located in the United States in which a check is first deposited, and (2) extend coverage of the Act to American Samoa and the Commonwealth of the Northern Mariana Islands.

(Sec. 121) Amends the CFPA to apply the Federal Advisory Committee Act to every CFPB advisory committee and subcommittee.

 (Sec. 122) The Federal Credit Union Act is amended to require the National Credit Union Administration (NCUA) Board to: (1) print in the Federal Register a draft of its detailed business-type budget before submitting it, and (2) hold a public hearing for public comments on the draft.

(Sec. 123) Amends the Financial Stability Act of 2010 with respect to the exemption of the debt or equity instruments of certain small insured depository institution holding companies from mandatory capital deductions in the calculation of minimum leverage and risk-based capital requirements for insured depository institutions. Adds March 31, 2010, as an alternative to December 31, 2009, as the target date for determining consolidated assets of less than $15 billion for a depository institution holding company whose debt or equity instruments are exempt from mandatory capital deductions.

(Sec. 124) The Federal Housing Finance Agency (FHFA) must withdraw its proposed rule entitled "Members of Federal Home Loan Banks" (September 12, 2014). The GAO shall report to certain congressional committees on the impact of the rule upon the Federal Home Loan Bank System and financial intermediaries.

(Sec. 125) The Economic Growth and Regulatory Paperwork Reduction Act of 1996 is amended to name the federal regulatory entities that must review, together with the Financial Institutions Examination Council, all Council-prescribed regulations, including regulations under Dodd-Frank, in order to identify unnecessary regulatory requirements governing insured depository institutions.

 (Sec. 126) The following agencies shall neither implement nor participate in the Operation Choke Point initiative of the Department of Justice: the FDIC, the Office of the Comptroller of the Currency, the Federal Reserve Board, the CFPB, and the NCUA.

TITLE II--SYSTEMICALLY IMPORTANT BANK HOLDING COMPANIES

 (Sec. 201) The Financial Stability Act of 2010 is amended to authorize the Financial Stability Oversight Council (FSOC), following prescribed procedures, to determine to be systemically important any bank holding company whose assets range between $50 billion and $500 billion (adjusted annually for inflation). Bank holding companies whose total consolidated assets exceed $500 billion (adjusted annually for inflation) shall be automatically deemed systemically important.

 ("Systemically important" and "systemic importance" refer to a situation where the failure of or a disruption to the functioning of a financial market utility or the conduct of a payment, clearing, or settlement activity could create, or increase, the risk of significant liquidity or credit problems spreading among financial institutions or markets and thereby threaten the stability of the U.S. financial system.)

(Sec. 204) It is the sense of Congress that the federal banking agencies, using their existing authorities, should seek to tailor prudential regulations and differentiate among Federal Reserve Board-supervised bank holding companies and nonbank financial companies based upon capital structure, riskiness, complexity, financial activities, and size.

 TITLE III--GREATER TRANSPARENCY FOR THE FINANCIAL STABILITY OVERSIGHT COUNCIL PROCESS FOR NONBANK FINANCIAL COMPANIES

(Sec. 301) The Financial Stability Act is further amended to allow any member of the governing body of a member agency headed by an FSOC member to attend FSOC meetings and have access to the same information and materials to which the FSOC member is entitled.

(Sec. 302) The FSOC, when determining the need for the Federal Reserve Board to supervise a domestic or foreign nonbank financial company that could pose a threat to U.S. financial stability, shall consider, among other factors, the degree to which the company is already regulated by its primary financial regulatory agency (as under current law), including the appropriateness of imposing prudential standards in addition to or as opposed to other forms of regulation.

The FSOC shall also reevaluate annually, through a specified process, each such determination with respect to a Board-supervised nonbank financial company and grant the company opportunity to contest the FSOC determination.

 TITLE IV--IMPROVED ACCOUNTABILITY AND TRANSPARENCY IN THE REGULATION OF INSURANCE

(Sec. 401) It is the sense of Congress that the McCarran-Ferguson Act remains the preferred approach to regulating the business of insurance.

(Sec. 402) The FDIA is amended to exempt from the requirement that it provide funds or other assets to a subsidiary depository institution any savings and loan holding company that is an insurance company, affiliate of an insured depository institution that is an insurance company, and any other company that is an insurance company and directly or indirectly controls an insured depository institution.

 The FDIC, during the orderly liquidation of a financial company (or subsidiary) that is an insurance company, must:

 notify state insurance authorities when taking a priority lien for payment of funds made available to that company or subsidiary; and take the lien only if it will not unduly impede or delay the liquidation or rehabilitation of the insurance company, or the recovery by its policyholders. (Sec. 403) It is the sense of Congress that:

 the Secretary of the Treasury, the Federal Reserve Board, and the Director of the Federal Insurance Office (officials) should support increasing transparency at any global insurance or international standard-setting regulatory or supervisory forum in which they participate, including advocating for greater public observer access at any such forum; and these officials should achieve consensus positions with state insurance regulators whenever they represent the United States in negotiations on insurance issues at an international forum of financial regulators considering insurance regulations. There is established within the Federal Reserve Board an Insurance Policy Advisory Committee on International Capital Standards and Other Insurance Issues.

These officials must study the impact upon U.S. consumers and markets before supporting or consenting to adoption of any key elements in any international insurance proposal or international insurance capital standard.

TITLE V--IMPROVING THE FEDERAL RESERVE SYSTEM

 (Sec. 501) The Federal Reserve Act is amended to direct the Federal Open Market Committee (FOMC) to explain quarterly to certain congressional committees the basis for its policy decisions.

 (Sec. 502) The Federal Reserve Board must, on a nondelegable basis, vote on whether to issue any civil money penalty assessment order or settle any other enforcement action that would involve payment of at least $1 million in compensation, penalties, fines, or other payments.

 Each Board member is limited to a maximum four-person staff selected by the member, and whose salaries are also set by the member.

(Sec. 503) The FOMC must publish the transcript of any meeting within three years.

(Sec. 505) There is established an independent Federal Reserve System Restructuring Commission to study the appropriateness of restructuring the Federal Reserve districts, analyzing potential benefits and costs.

(Sec. 506) The GAO shall study the effectiveness of supervision by the Federal Reserve Board and each Federal Reserve bank of bank holding companies and nonbank financial companies subject to specified requirements of the Financial Stability Act of 2010.

(Sec. 507) The Federal Reserve Board must report biennially to certain congressional committees on its plans to supervise and regulate nonbank financial companies subject to specified determinations under the Financial Stability Act of 2010.

(Sec. 508) The first vice president of the Federal Reserve Bank of New York shall be appointed by the Class B and Class C directors of the Bank, with the approval of the Federal Reserve Board, for a five-year term.

The president of the Federal Reserve Bank of New York shall be appointed by the President, by and with the advice and consent of the Senate, also for a five-year term. TITLE VI--IMPROVED ACCESS TO CAPITAL AND TAILORED REGULATION IN THE FINANCIAL MARKETS

(Sec. 601) The Securities Exchange Act of 1934 (SEA) is amended to subject to securities registration requirements any savings and loan holding company whose total assets exceed $10,000,000 and that has a class of equity security (other than an exempted security) held of record by 2,000 or more persons.

(Sec. 602) The Securities and Exchange Commission (SEC) shall increase from $5 million to $10 million the aggregate sales price or securities threshold sold during any consecutive 12-month period in excess of which the issuer must make additional disclosures to investors regarding compensatory benefit plans.

 (Sec. 603) The CEA and the SEA are amended to repeal the requirement that derivatives clearing organizations, swap data repositories, and security-based swap data repositories indemnify the Commodity Futures Trading Commission or the SEC, as appropriate, for any expenses arising from litigation relating to disclosed information.

(Sec. 604) The Securities Act of 1933 is amended to require continued treatment as an emerging growth company, for a certain period, of any company previously registered as an emerging growth company that has since ceased to qualify as one.

 TITLE VII--TAXPAYER PROTECTIONS AND MARKET ACCESS FOR MORTGAGE FINANCE

(Sec. 702) For purposes of determining budgetary impacts to evaluate points of order under the Congressional Budget Act of 1974, a legislative vehicle that would either increase or extend the increase of guarantee fees for the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and any of their affiliates (enterprises) may not be scored with respect to the level of budget authority, outlays, or revenues.

 Legislation may be scored, however, if it: (1) includes a specific instruction regarding the disposition of senior preferred stock acquired pursuant to the Senior Preferred Stock Purchase Agreement; and (2) provides for an increase, or extension of an increase, of any enterprise guarantee fee in order to finance reforms to the secondary mortgage market.

(The Senior Preferred Stock Purchase Agreement is:

 the Amended and Restated Senior Preferred Stock Purchase Agreement, dated September 26, 2008, as amended on several specified later dates, and as it may be further amended and restated, entered into between the Department of the Treasury and each enterprise; and any provision of any certificate in connection with the Agreement creating or designating the terms, powers, preferences, privileges, limitations, or any other conditions of the Variable Liquidation Preference Senior Preferred Stock of an enterprise issued or sold pursuant to the Agreement.) (Sec. 703) Treasury may not dispose of outstanding shares of senior preferred stock acquired pursuant to the Senior Preferred Stock Purchase Agreement unless legislation has been enacted specifically instructing Treasury regarding such a disposition.

(Sec. 704) The FHFA shall direct the enterprises and Common Securitization Solutions, LLC, (CSS) (the joint venture the enterprises have formed) to establish the Secondary Market Advisory Committee (SMAC) to advise the enterprises and CSS on decisions pertaining to the development of secondary mortgage market infrastructure.

The SMAC must include private market participants that represent multiple aspects of the mortgage market, including mortgage lenders and poolers of mortgage-backed securities.

 (Sec. 705) It is the sense of Congress that:

 the capacity and functionality of the securitization Platform described in the FHFA paper "Building a New Infrastructure for the Secondary Mortgage Market," which is currently geared toward enterprise issuance of mortgage-backed securities, should be expanded to facilitate the issuance of such securities by issuers other than the enterprises; CSS should develop the contractual and disclosure framework for issuers other than the enterprises; and specified enterprise property constitutes valuable assets for which the enterprises should receive appropriate compensation upon their transfer. The FHFA must present to Congress a plan to transition the Platform and the contractual and disclosure framework from a joint venture owned by the enterprises into a private, nonprofit entity that best facilitates a deep, liquid, and resilient secondary mortgage market for mortgage-backed securities.

The FHFA must direct the enterprises and CSS to re-constitute a CSS Board of Directors that meets certain composition requirements.

CSS is prohibited from undertaking certain activities, including: (1) guaranteeing mortgage loans or mortgage-backed securities, (2) assuming or holding mortgage loan credit risk, and (3) owning or holding mortgage loans or mortgage-backed securities for investment purposes.

The FHFA shall have general regulatory authority over CSS and any subsequent private successor.

The FHFA must transfer from the enterprises to CSS any funds necessary to implement Platform activities and operations.

(Sec. 706) The Federal Housing Enterprises Financial Safety and Soundness Act of 1992 is amended to require:

 each enterprise to develop and engage in significant and increasing risk-sharing transactions, including front-end risk sharing and risk-sharing transactions in which the first loss position is transferred, considering market conditions and the safety and soundness of the enterprise; and the FHFA to report annually to Congress a 5-year plan describing steps it intends to take to broaden the eligible investor base for credit risk-sharing programs. TITLE VIII--DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT TECHNICAL CORRECTIONS

(Sec. 801) Technical and conforming amendments are made to specified Acts cited in Dodd-Frank, including: (1) the Financial Stability Act of 2010, (2) the Enhancing Financial Institution Safety and Soundness Act of 2010, and (3) the Private Fund Investment Advisers Registration Act of 2010.

(Sec. 816) Extended for one year are rulemaking deadlines prescribed in Dodd-Frank which have either not been met, or have not been met in final form.

measure amended introduced summary expanded action occurred measure financial regulatory improvement act title regulatory relief protection consumer access credit sec bill amends gramm leach bliley act exempt requirement provide consumers annual written disclosure privacy policy certain financial institutions provide nonpublic personal information nonaffiliated party perform services functions behalf financial institution sec federal_home_loan_bank_act amended set requirements credit union applied membership federal_home_loan_bank member accounts federally insured treated nonetheless insured depository institution sec consumer_financial_protection_bureau cfpb shall establish process person lives business area cfpb designated rural apply cfpb rural area designation evaluation criteria cfpb consider set forth sec federal_financial_institutions_examination_council_act amended establish financial institutions examination council office independent examination review investigate complaints concerning examinations examination practices examination reports conduct continuing regular program examination quality assurance types examinations conducted federal financial institutions regulatory agencies riegle_community_development_and_regulatory_improvement_act amended require cfpb establish independent intra agency appellate process ensure safeguards exist protect insured depository institution insured credit union retaliation federal banking agency exercising rights principle retaliation expanded include delaying consideration withholding approval request notice application approved exercise rights insured depository institution credit union sec truth lending act tila amended exempt certain creditors civil liability particular circumstances failure comply specified prohibitions respect residential mortgage loan things creditor person acquiring loan continued hold loan balance sheet loan origination loan acquired securitization prepayment penalties respect loan comply limitations loan negative amortization interest features loan term years creditor documented consumer income employment assets credit history federal_deposit_insurance_act fdia amended require periodic federal banking agency reviews mortgage portfolio targeted segments bank portfolios belonging banks deemed systemically important certain conditions arise including elevated risk increased delinquency loss rates new lines business emerge new acquisition channels rapid growth internal audit inadequate sec government_accountability_office gao shall study effects dodd-frank_wall_street_reform consumer protection act dodd-frank availability affordability credit consumers small businesses time homebuyers mortgage lending sec tila amended exclude definition mortgage originator subject tila requirements prohibitions retailer manufactured modular homes employees receives compensation gain engaging specified activities related mortgage loan origination exceeds compensation gain received comparable cash transaction criteria high cost mortgage loan secured dwelling personal property transaction revised increase percentage points involved maximum qualifying transaction adjusted inflation include alternative transaction include purchase real property dwelling placed total points fees payable transaction exceed greater total transaction adjusted inflation qualify mortgage loan high fdia amended respect mandatory site examinations increase million billion maximum asset size small insured depository institutions eligible month onsite examinations sec bill amends specified acts link changes gross domestic product size insured depository institutions insured credit unions subject specified regulatory oversight including examination reporting threshold required consumer_financial_protection_act size small banks savings associations farm credit system institutions credit unions exempt swap securities based swap clearing requirements commodity_exchange_act cea securities_exchange_act sec home_mortgage disclosure act amended direct gao study privacy risks government publication personal financial data sec tila amended shield civil liability disclosure good faith pursuant mandatory reporting unethical conduct concerning consumer real estate appraisals declare civil penalties inapplicable violations appraisal independence requirements sec mutual holding companies grandfathered mutual holding companies waive receipt dividends declared common stock bank mid size holding companies sec appraiser employed appraise consumer principal dwelling secure consumer credit transaction voluntarily declines receive fee shall treated fee appraiser respect appraisal independence requirements sec bank_holding_company_act amended exclude prohibitions proprietary trading certain relationships hedge funds private equity funds banking institution total consolidated assets billion controlled company total consolidated assets exceed billion adjusted changes gross domestic product appropriate federal banking agency insured depository institution total consolidated assets billion apply prohibitions restrictions activities insured depository institution amendment subject activities inconsistent traditional banking activities nature volume pose risk safety soundness insured depository institution sec federal banking agencies shall jointly study appropriate capital requirements mortgage servicing assets banking institutions sec tila amended allow transaction consummated regard certain day waiting period creditor extends consumer second offer credit lower annual percentage rate amended shield civil criminal administrative action failure comply certain mandatory disclosures relating consumer financial product service covered person makes specified disclosures tila real_estate_settlement_procedures_act specified period model disclosures prescribed cfpb sec mortgage licensing act amended deem registered loan originators moving financial institution non bank originator moving interstate state licensed day period state licensed mortgage lender mortgage mortgage servicer depository institution registers nationwide_mortgage_licensing_system_and_registry registered loan originator employed sec fdia amended direct federal banking agencies review reports condition jointly develop short form reports condition reduce eliminate information schedules currently required filed insured depository institution sec expedited funds availability act amended define receiving depository institution proprietary automated teller machine atm located united_states check deposited extend coverage act american_samoa commonwealth_of_the_northern_mariana_islands sec amends apply federal_advisory_committee_act cfpb advisory_committee subcommittee sec federal_credit_union_act amended require national_credit_union_administration ncua board print federal_register draft detailed business type budget submitting hold public hearing public comments draft sec amends financial stability act respect exemption debt equity instruments certain small insured depository institution holding companies mandatory capital deductions calculation minimum leverage risk based capital requirements insured depository institutions adds march alternative december target date determining consolidated assets billion depository institution holding company debt equity instruments exempt mandatory capital deductions sec federal_housing_finance_agency fhfa withdraw proposed rule entitled members federal_home_loan_banks september gao shall report certain congressional committees impact rule federal_home_loan_bank system financial intermediaries sec economic growth regulatory paperwork reduction act amended federal regulatory entities review financial institutions examination council council prescribed regulations including regulations dodd-frank order identify unnecessary regulatory requirements governing insured depository institutions sec following agencies shall implement participate operation point initiative department_of_justice fdic office_of_the_comptroller_of_the_currency federal_reserve_board cfpb ncua title systemically important bank holding companies sec financial stability act amended authorize financial_stability_oversight_council fsoc following prescribed procedures determine systemically important bank holding company assets range billion billion adjusted annually inflation bank holding companies total consolidated assets exceed billion adjusted annually inflation shall automatically deemed systemically important systemically important systemic importance refer situation failure disruption functioning financial market utility conduct payment clearing settlement activity create increase risk significant liquidity credit problems spreading financial institutions markets threaten stability financial system sec sense congress federal banking agencies existing authorities seek tailor prudential regulations federal_reserve_board supervised bank holding companies nonbank financial companies based capital structure complexity financial activities size title iii greater transparency financial_stability_oversight_council process nonbank financial companies sec financial stability act amended allow member governing body member agency headed fsoc member attend fsoc meetings access information materials fsoc member entitled sec fsoc determining need federal_reserve_board supervise domestic foreign nonbank financial company pose threat financial stability shall consider factors degree company regulated primary financial regulatory agency current law including appropriateness imposing prudential standards addition opposed forms regulation fsoc shall reevaluate annually specified process determination respect board supervised nonbank financial company grant company opportunity contest fsoc determination title improved accountability transparency regulation insurance sec sense congress mccarran ferguson act remains preferred approach regulating business insurance sec fdia amended exempt requirement provide funds assets subsidiary depository institution savings loan holding company insurance company affiliate insured depository institution insurance company company insurance company directly indirectly controls insured depository institution fdic orderly liquidation financial company subsidiary insurance company notify state insurance authorities taking priority lien payment funds available company subsidiary lien unduly impede delay liquidation rehabilitation insurance company recovery policyholders sec sense congress secretary treasury federal_reserve_board director federal_insurance_office officials support increasing transparency global insurance international standard setting regulatory supervisory forum participate including advocating greater public observer access forum officials achieve consensus positions state insurance regulators represent united_states negotiations insurance issues international forum financial regulators considering insurance regulations established federal_reserve_board insurance policy advisory_committee international capital standards insurance issues officials study impact consumers markets supporting consenting adoption key elements international insurance proposal international insurance capital standard title improving federal_reserve_system sec federal_reserve_act amended direct federal_open_market_committee fomc explain quarterly certain congressional committees basis policy decisions sec federal_reserve_board basis vote issue civil money penalty assessment order settle enforcement action involve payment million compensation penalties fines payments board member limited maximum person staff selected member salaries set member sec fomc publish transcript meeting years sec established independent federal_reserve_system restructuring commission study appropriateness restructuring federal_reserve districts analyzing potential benefits costs sec gao shall study effectiveness supervision federal_reserve_board federal_reserve_bank bank holding companies nonbank financial companies subject specified requirements financial stability act sec federal_reserve_board report biennially certain congressional committees plans supervise regulate nonbank financial companies subject specified determinations financial stability act sec vice president federal_reserve_bank new_york shall appointed class class directors bank approval federal_reserve_board year term president federal_reserve_bank new_york shall appointed president advice consent senate year term title improved access capital tailored regulation financial markets sec securities_exchange_act sea amended subject securities registration requirements savings loan holding company total assets exceed class equity security exempted security held record persons sec securities_and_exchange_commission sec shall increase million million aggregate sales price securities threshold sold consecutive month period excess issuer additional disclosures investors compensatory benefit plans sec cea sea amended repeal requirement derivatives clearing organizations swap data repositories security based swap data repositories indemnify commodity_futures_trading_commission sec appropriate expenses arising litigation relating disclosed information sec securities act amended require continued treatment emerging growth company certain period company previously registered emerging growth company ceased qualify title vii taxpayer protections market access mortgage finance sec purposes determining budgetary impacts evaluate points order congressional_budget_act legislative vehicle increase extend increase guarantee fees federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac affiliates enterprises respect level budget authority outlays revenues legislation includes specific instruction disposition senior preferred stock acquired pursuant senior preferred stock purchase agreement provides increase extension increase enterprise guarantee fee order finance reforms secondary mortgage market senior preferred stock purchase agreement amended senior preferred stock purchase agreement dated september amended specified later dates amended entered department_of_the_treasury enterprise provision certificate connection agreement creating designating terms powers preferences privileges limitations conditions variable liquidation preference senior preferred stock enterprise issued sold pursuant agreement sec treasury dispose outstanding shares senior preferred stock acquired pursuant senior preferred stock purchase agreement legislation enacted specifically instructing treasury disposition sec fhfa shall direct enterprises common securitization solutions llc joint venture enterprises formed establish secondary market advisory_committee advise enterprises decisions pertaining development secondary mortgage market infrastructure include private market participants represent multiple aspects mortgage market including mortgage lenders mortgage backed securities sec sense congress capacity functionality securitization platform described fhfa paper building new infrastructure secondary mortgage market currently enterprise issuance mortgage backed securities expanded facilitate issuance securities issuers enterprises develop contractual disclosure framework issuers enterprises specified enterprise property constitutes valuable assets enterprises receive appropriate compensation transfer fhfa present congress plan transition platform contractual disclosure framework joint venture owned enterprises private nonprofit entity best facilitates deep liquid resilient secondary mortgage market mortgage backed securities fhfa direct enterprises constitute board_of_directors meets certain composition requirements prohibited undertaking certain activities including guaranteeing mortgage loans mortgage backed securities assuming holding mortgage loan credit risk owning holding mortgage loans mortgage backed securities investment purposes fhfa shall general regulatory authority subsequent private successor fhfa transfer enterprises funds necessary implement platform activities operations sec federal_housing_enterprises_financial_safety soundness act amended require enterprise develop engage significant increasing risk sharing transactions including end risk sharing risk sharing transactions loss position transferred considering market conditions safety soundness enterprise fhfa report annually congress year plan describing steps intends broaden eligible investor base credit risk sharing programs title viii dodd-frank_wall_street_reform consumer protection act technical corrections sec technical conforming amendments specified acts cited dodd-frank including financial stability act enhancing financial institution safety soundness act private fund investment advisers registration act sec extended year rulemaking deadlines prescribed dodd-frank met met final form


Summary:
Quarterly Financial Reporting Reauthorization Act of 2015

(Sec. 2) This bill extends through FY2030 the authority of the Department of Commerce to conduct the quarterly financial report program under which it collects and publishes quarterly financial statistics of business operations, organization, practices, management, and relation to other businesses, including data on sales, expenses, assets, liabilities, and other measures of financial condition.

(Sec. 3) Commerce shall review and report to Congress on the data security procedures of the Bureau of the Census, including those implemented since the data breach of systems of the Office of Personnel Management that occurred during FY2015.

quarterly financial reporting reauthorization act sec bill extends authority department_of_commerce conduct quarterly financial report program collects publishes quarterly financial statistics business operations organization practices management relation businesses including data sales expenses assets liabilities measures financial condition sec commerce shall review report congress data_security procedures bureau_of_the_census including implemented data breach systems office_of_personnel_management occurred fy2015


Summary: Technology Retraining and Investment Now Act for the 21st Century - Amends the Internal Revenue Code to allow a tax credit for 50 percent of the information and communications technology education and training program expenses of individuals and employees, up to $4,000 in a taxable year. Increases the allowable amount of such credit to $5,000 for expenses for a program operated: (1) in an empowerment zone, enterprise community, or renewal community; (2) in a school district in which at least 50 percent of the students are eligible for free or reduced-cost lunches; (3) in an federally-declared disaster area; (4) in certain rural areas receiving federal assistance; (5) in an Indian tribal jurisdiction; (6) by an employer with 200 or fewer employees during a specified period; or (7) for a disabled individual. Defines "information technology education and training program expenses" to include: (1) course work; (2) certification testing; (3) apprenticeship programs registered by the Department of Labor; and (4) other expenses essential to assessing skill acquisition. Redefines "eligible educational institution" to include a commercial information and communications technology training provider. Establishes an Information Technology Training Certification Advisory Board to develop: (1) guidelines for computer science, information technology, and related college courses; and (2) a list of the information technology training and certifications that qualify for the tax credit established by this Act.

technology retraining investment act 21st century amends_the_internal_revenue_code allow tax credit percent information communications technology education training program expenses individuals employees taxable year increases allowable credit expenses program operated empowerment zone enterprise community renewal community school district percent students eligible free reduced cost lunches federally declared disaster area certain rural areas receiving federal assistance indian tribal jurisdiction employer fewer employees specified period disabled individual defines information technology education training program expenses include course work certification testing apprenticeship programs registered department_of_labor expenses essential assessing skill acquisition redefines eligible educational institution include commercial information communications technology training provider establishes information technology training certification advisory_board develop guidelines computer science information technology related college courses list information technology training certifications qualify tax credit established act


Summary: Investment in Quality School Leadership Act - Establishes a program of grants to consortia for professional development of superintendents, principals, and prospective superintendents and principals. Directs the Secretary of Education to award such competitive grants to consortia to establish programs that serve a state or region and provide superintendents, principals, and prospective superintendents and principals, particularly those serving, or intending to serve, in high-poverty, low-performing school districts and schools, with ongoing, intensive professional development opportunities to improve their capacity to serve as effective leaders and successfully implement standards-based reforms. Requires a consortium, to be eligible to apply for such a grant, to include at least: (1) one local educational agency (LEA) serving a high concentration of children living in poverty; (2) one institution of higher education; and (3) one organization that does not usually provide educational services, but has the necessary expertise to provide professional development to school administrators. Allows such consortia also to include: (1) one or more additional LEAs; (2) state educational agencies; (3) for-profit organizations with expertise; and (4) public or private nonprofit organizations with expertise. Gives priority for awards to those consortia in which the participating LEA serves the highest concentration of children living in poverty. Sets forth required program activities and additional uses of grant funds. Requires grantees to provide 50 percent of the project's annual costs, in cash or in kind. Authorizes the Secretary to: (1) waive such matching requirement for applicants that serve low-income areas; and (2) reserve certain funds for technical assistance, evaluation, dissemination of information on effective programs, activities to encourage the spread and adoption of successful leadership development centers, and other national activities that support the programs.

investment quality school leadership act establishes program grants consortia professional development superintendents principals prospective superintendents principals directs secretary education award competitive grants consortia establish programs serve state region provide superintendents principals prospective superintendents principals particularly serving intending serve high poverty low performing school districts schools ongoing intensive professional development opportunities improve capacity serve effective leaders successfully implement standards based reforms requires consortium eligible apply grant include local educational agency lea serving high concentration children living poverty institution higher education organization usually provide educational services necessary expertise provide professional development school administrators allows consortia include additional leas state educational agencies profit organizations expertise public private nonprofit organizations expertise gives priority awards consortia participating lea serves highest concentration children living poverty sets forth required program activities additional uses grant funds requires grantees provide percent project annual costs cash kind authorizes secretary waive matching requirement applicants serve low income areas reserve certain funds technical assistance evaluation dissemination information effective programs activities encourage spread adoption successful leadership development centers national activities support programs