Summary:
Marijuana Businesses Access to Banking Act of 2015

This bill provides a safe harbor for depository institutions providing financial services to a marijuana-related legitimate business insofar as it prohibits a federal banking regulator from: (1) terminating or limiting the deposit or share insurance of a depository institution solely because it provides financial services to a marijuana-related legitimate business; or (2) prohibiting, penalizing, or otherwise discouraging a depository institution from offering such services.

A federal banking regulator may neither recommend, motivate, provide incentives, nor encourage a depository institution to refuse to offer financial services to an individual, nor downgrade or cancel financial services offered to an individual, solely because the individual: (1) is a manufacturer, producer, owner or operator of a marijuana-related legitimate business; or (2) the depository institution was not aware that the individual is the owner or operator of a marijuana-related legitimate business.

 A federal banking regulator may not take any adverse or corrective supervisory action, solely because of the business involved, on a loan made to an owner or operator of: (1) a marijuana-related legitimate business, or (2) real estate or equipment that is leased to a marijuana-related legitimate business.

Immunity from federal criminal prosecution or investigation is granted, subject to certain conditions, to a depository institution that provides financial services to a marijuana-related legitimate business in a state or one of its political subdivisions that allows the cultivation, production, manufacture, sale, transportation, display, dispensing, distribution, or purchase of marijuana. Neither the depository institution nor its officers, directors, nor employees may be held liable under federal law or regulation solely for providing such financial services or further investing income derived from those services.

The Department of the Treasury must require any suspicious activity report filed by a financial institution regarding a marijuana-based business to comply with specified guidance of the Financial Crimes Enforcement Network. Treasury must ensure that the guidance is consistent with the Marijuana Businesses Access to Banking Act of 2015 and does not inhibit the provision of financial services to a marijuana-related legitimate business in a state or local government that allows the cultivation, production, manufacturing, transportation, display, dispensing, distribution, sale, or purchase of marijuana.

banking act bill provides safe harbor depository institutions providing financial services marijuana related legitimate business insofar prohibits federal banking regulator terminating limiting deposit share insurance depository institution solely provides financial services marijuana related legitimate business prohibiting penalizing discouraging depository institution offering services federal banking regulator recommend motivate provide incentives encourage depository institution refuse offer financial services individual downgrade cancel financial services offered individual solely individual manufacturer producer owner operator marijuana related legitimate business depository institution aware individual owner operator marijuana related legitimate business federal banking regulator adverse corrective supervisory action solely business involved loan owner operator marijuana related legitimate business real estate equipment leased marijuana related legitimate business immunity federal criminal prosecution investigation granted subject certain conditions depository institution provides financial services marijuana related legitimate business state political subdivisions allows cultivation production manufacture sale transportation display dispensing distribution purchase marijuana depository institution officers directors employees held liable federal law regulation solely providing financial services investing income derived services department_of_the_treasury require suspicious activity report filed financial institution marijuana based business comply specified guidance financial_crimes_enforcement_network treasury ensure guidance consistent inhibit provision financial services marijuana related legitimate business state local government allows cultivation production manufacturing transportation display dispensing distribution sale purchase marijuana


Summary:
Community Bank Sensible Regulation Act of 2015

 This bill amends the following Acts governing insured depository institutions to authorize the respective regulatory agencies to exempt from their regulatory purview depository institutions having less than $10 billion in total assets after the agencies have considered specified factors:

 the Federal Deposit Insurance Act (insured depository institutions), the Revised Statutes (national banks), the Home Owners' Loan Act (savings associations, savings and loan holding companies, and mutual holding company), the Federal Reserve Act (state member banks), and the Bank Holding Company Act of 1956 (bank holding companies). When issuing an exemption from a provision or rule the regulatory agencies must consider the extent to which:

 the provision or rule would impose an unnecessary or undue burden or cost on the depository institution; the provision or rule is unnecessary or unwarranted to promote the safety and soundness of the depository institution; and the exemption is necessary, appropriate, or consistent with the public interest. The asset threshold of such depository institutions shall increase annually at a percentage equal to the percentage change in the total aggregate assets of insured depository institutions for each 12-month period ending in December of each year, rounded to the nearest $10 million.

bill amends following acts governing insured depository institutions authorize respective regulatory agencies exempt regulatory purview depository institutions having billion total assets agencies considered specified factors federal_deposit_insurance_act insured depository institutions revised_statutes national banks savings associations savings loan holding companies mutual holding company federal_reserve_act state member banks bank_holding_company_act bank holding companies issuing exemption provision rule regulatory agencies consider extent provision rule impose unnecessary undue burden cost depository institution provision rule unnecessary unwarranted promote safety soundness depository institution exemption necessary appropriate consistent public interest asset threshold depository institutions shall increase annually percentage equal percentage change total aggregate assets insured depository institutions month period ending december year rounded nearest million


Summary:
Community Bank Access to Capital Act of 2015

This bill directs the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (FDIC): (1) to each promulgate a regulation exempting community banks from regulations implementing "Basel III: A global regulatory framework for more resilient banks and banking systems," and (2) to revise capital requirements as they determine appropriate in light of such required regulations.

 A community bank is defined as one whose consolidated assets are not greater than $50 billion.

The bill also exempts from the internal control attestation requirements of the Sarbanes-Oxley Act of 2002 both an insured depository institution and a depository institution holding company with consolidated assets of not greater than $1 billion.

The Securities and Exchange Commission (SEC) is prohibited from adjusting under Regulation D the $1 million net worth threshold and $200,000 and $300,000 income thresholds that define a natural person as an accredited investor.

The SEC shall increase from 35 to 70 the number of purchasers of securities in transactions deemed not to involve a public offering and so are exempt from regulation under the Securities Exchange Act of 1933.

The Securities Exchange Act of 1934 is amended to: (1) subject a savings and loan holding company to registration requirements for securities whose issuer has total assets exceeding $10 million and a class of non-exempt equity security held of record by 2,000 or more persons; and (2) apply the automatic termination of registration, and suspension of the duty to file supplementary and periodic information, to a savings and loan holding company whose securities are found to be held by less than 1,200 persons.

bill directs comptroller currency board_of_governors federal_reserve_system federal_deposit_insurance_corporation fdic promulgate regulation exempting community banks regulations implementing basel iii global regulatory framework resilient banks banking systems revise capital requirements determine appropriate light required regulations community bank defined consolidated assets greater billion bill exempts internal control attestation requirements sarbanes-oxley_act insured depository institution depository institution holding company consolidated assets greater billion securities_and_exchange_commission sec prohibited adjusting regulation million net worth threshold income thresholds define natural person accredited investor sec shall increase number purchasers securities transactions deemed involve public offering exempt regulation securities exchange act securities_exchange_act amended subject savings loan holding company registration requirements securities issuer total assets exceeding million class non exempt equity security held record persons apply automatic termination registration suspension duty file supplementary periodic information savings loan holding company securities found held persons


Summary:
Small Business Lending Enhancement Act of 2015

 Amends the Federal Credit Union Act to prohibit an insured credit union from making any member business loan that would result in the total amount of such loans outstanding at that credit union at any one time exceeding either: (1) 1.75 times the actual net worth of the credit union, or (2) 12.25% of the total assets of the credit union.

Authorizes the National Credit Union Administration Board to approve an application by an insured credit union to make one or more member business loans that would result in a total amount of such loans outstanding at any one time of up to 27.5 % of the total assets of the credit union, if the credit union meets specified safety and soundness criteria. Prohibits an insured credit union that has made such a member business loan but that is not well capitalized from making any new member business loans until it becomes well capitalized and obtains Board approval.

Directs the Board to develop a tiered approval process, including lending standards, under which an insured credit union gradually increases the amount of member business lending in a manner that is consistent with safe and sound operations.

Directs the Government Accountability Office to study the status of member business lending by insured credit unions.

small business lending enhancement act amends federal_credit_union_act prohibit insured credit union making member business loan result total loans outstanding credit union time exceeding times actual net worth credit union total assets credit union authorizes national_credit_union_administration_board approve application insured credit union member business loans result total loans outstanding time total assets credit union credit union meets specified safety soundness criteria prohibits insured credit union member business loan capitalized making new member business loans capitalized obtains board approval directs board develop tiered approval process including lending standards insured credit union gradually increases member business lending manner consistent safe sound operations directs government_accountability_office study status member business lending insured credit unions


Summary:
Federal Savings Association Charter Flexibility Act of 2016

This bill amends the Home Owners' Loan Act to permit a federal savings association to elect to operate subject to supervision by the Comptroller of the Currency with the rights and duties of a national bank.

charter flexibility act bill amends permit federal savings association elect operate subject supervision comptroller_of_the_currency rights duties national bank


Summary:
Financial Institution Customer Protection Act of 2016

 This bill prohibits a federal banking agency from formally or informally suggesting, requesting, or ordering a depository institution to terminate either a specific customer account, or group of customer accounts, or otherwise restrict or discourage it from entering into or maintaining a banking relationship with a specific customer or group of customers, unless: (1) the agency has a material reason to do so, and (2) the reason is not based solely on reputation risk to the institution.

The "material reason" criterion shall be satisfied if an agency believes that a specific customer or group of customers poses a threat to national security, including any belief that they are involved in terrorist financing.

Unless the appropriate agency determines that the customer or group of customers has used due diligence to avoid doing business with any entity described below, the bill deems the criteria addressing "material reason" to be met if the agency believes a customer or group of customers is, or is acting as, a conduit for an entity which:

 poses a threat to national security; is involved in terrorist financing; is an agency of the government of Iran, North Korea, Syria, or any country listed from time to time on the state sponsor of terrorism list; is either located in, or subject to the jurisdiction of, any of such countries; or does business with any entity located in such countries. If an appropriate federal banking agency orders a depository institution to terminate a specific customer account or a group of customer accounts, the depository institution shall inform the customer or customers of the justification for the termination.

No notice may be given to the customer, however, if the agency requests or orders a depository institution to terminate a customer account (or a group of customer accounts) based upon a belief that customer or those customers pose a threat to national security or are otherwise described above.

The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 is amended to revise requirements for summoning witnesses and requiring production of books or other records the Attorney General deems relevant or material to a civil investigation in contemplation of a civil proceeding which may result in civil penalties for specified violations.

customer protection act bill prohibits federal banking agency formally requesting ordering depository institution terminate specific customer account group customer accounts restrict discourage entering maintaining banking relationship specific customer group customers agency material reason reason based solely reputation risk institution material reason criterion shall satisfied agency believes specific customer group customers poses threat national security including belief involved terrorist financing appropriate agency determines customer group customers diligence avoid business entity described bill deems criteria addressing material reason met agency believes customer group customers acting conduit entity poses threat national security involved terrorist financing agency government iran north_korea syria country listed time time state sponsor terrorism list located subject jurisdiction countries business entity located countries appropriate federal banking agency orders depository institution terminate specific customer account group customer accounts depository institution shall inform customer customers justification termination notice given customer agency requests orders depository institution terminate customer account group customer accounts based belief customer customers pose threat national security described financial institutions reform recovery enforcement act amended revise requirements witnesses requiring production books records attorney general deems relevant material civil investigation civil proceeding result civil penalties specified violations


Summary:
Taking Account of Institutions with Low Operation Risk Act of 2016 or the TAILOR Act of 2016

This bill requires the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Consumer Financial Protection Bureau, for any rule, regulation, or guidance, to: (1) consider the risk profile and business models of individual financial institutions and those of similar type that are subject to the regulatory action; and (2) tailor the action so that it limits the regulatory impact on an individual or type of institution as is appropriate for the risk profile and business model involved.

In carrying out such requirements, each such agency shall consider:

 whether it is necessary to apply such regulatory action to accomplish policy objectives; the impact of such action on the ability of such institutions to flexibly serve their customers and local markets; the aggregate impact of all applicable regulatory actions on such ability; the potential impact of implementing the action upon efforts to tailor it; and the statutory provision authorizing the action, the congressional intent of such provision, and the policy objectives sought by the agency in implementing it. The bill requires: (1) each such agency to report on the specific actions taken to tailor its regulatory actions pursuant to this bill, and (2) the Federal Financial Institutions Examination Council to report on the extent to which each such agency differs in the treatment of similarly situated institutions.

Each agency shall: (1) conduct a review of all final regulations issued pursuant to statutes enacted between July 21, 2010, and the date of this bill's enactment, and (2) apply this bill's requirements to such regulations.

taking account institutions low operation risk act tailor act bill requires office_of_the_comptroller_of_the_currency board_of_governors federal_reserve_system federal_deposit_insurance_corporation national_credit_union_administration consumer_financial_protection_bureau rule regulation guidance consider risk profile business models individual financial institutions similar type subject regulatory action tailor action limits regulatory impact individual type institution appropriate risk profile business model involved carrying requirements agency shall consider necessary apply regulatory action accomplish policy objectives impact action ability institutions serve customers local markets aggregate impact applicable regulatory actions ability potential impact implementing action efforts tailor statutory provision authorizing action congressional intent provision policy objectives sought agency implementing bill requires agency report specific actions taken tailor regulatory actions pursuant bill federal_financial_institutions_examination_council report extent agency differs treatment similarly situated institutions agency shall conduct review final regulations issued pursuant statutes enacted july date bill enactment apply bill requirements regulations


Summary:
Municipal Bond Market Support Act of 2016

This bill amends Internal Revenue Code provisions relating to the small issuer exemption from interest expense allocation rules for financial institutions to: (1) permanently increase from $10 million to $30 million the annual limit on the amount of tax-exempt obligations that a small issuer may issue, and (2) allow an inflation adjustment to such increased limit amount after 2016.

municipal_bond_market_support_act bill amends internal_revenue_code provisions relating small issuer exemption interest expense allocation rules financial institutions permanently increase million million annual limit tax exempt obligations small issuer issue allow inflation adjustment increased limit


Summary:
This bill amends the Federal Deposit Insurance Act to exclude reciprocal deposits of an insured depository institution from consideration as prohibited broker deposits if the total reciprocal deposits of the institution do not exceed the lesser of $10 billion or 20% of its total liabilities.

Reciprocal deposits are those received by an agent institution through a deposit placement network with the same maturity (if any) and in the same aggregate amount as covered deposits placed by the agent institution in other network member banks.

(Generally, an insured depository institution that is not well capitalized may not accept funds obtained by or through any deposit broker for deposit into one or more deposit accounts.)

bill amends federal_deposit_insurance_act exclude reciprocal deposits insured depository institution consideration prohibited broker deposits total reciprocal deposits institution exceed lesser billion total liabilities reciprocal deposits received agent institution deposit placement network maturity aggregate covered deposits placed agent institution network member banks generally insured depository institution capitalized accept funds obtained deposit broker deposit deposit accounts


Summary: This bill amends the Federal Deposit Insurance Act to require certain municipal obligations to be treated as level 2B liquid assets if they are investment grade, liquid, and readily marketable. Under current law, corporate debt securities and publicly traded common-equity shares, but not municipal obligations, may be treated as level 2B liquid assets (which are considered to be high-quality assets).

bill amends federal_deposit_insurance_act require certain municipal obligations treated level liquid assets investment grade liquid readily marketable current law corporate debt securities publicly traded common equity shares municipal obligations treated level liquid assets considered high quality assets


Summary:
This bill amends the Federal Deposit Insurance Act to require the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve Board to provide that a bank's or a savings association's investments in Trust Preferred Securities (pooled and individual instruments) shall not be subject to deduction from such institution's regulatory capital (provided such instruments were held as investments prior to July 21, 2010) for purposes of the final rules entitled "Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy, Transition Provisions, Prompt Corrective Action, Standardized Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital Rule" (Basel III Capital Regulations), published on October 11, 2013.

The OCC, the FDIC, and the Federal Reserve Board must amend such Basel III Capital Regulations to implement this bill.

bill amends federal_deposit_insurance_act require office_of_the_comptroller_of_the_currency federal_deposit_insurance_corporation fdic federal_reserve_board provide bank savings association investments pooled individual instruments shall subject deduction institution regulatory capital provided instruments held investments prior july purposes final rules entitled regulatory capital rules regulatory capital implementation basel iii prompt corrective action standardized approach risk weighted assets disclosure requirements advanced approaches risk based capital rule published october fdic federal_reserve_board amend implement bill


Summary: Brownfields Housing and Community Renewal Development Act - Amends the Housing and Community Development Act of 1974 to direct the Secretary of Housing and Urban Development to establish a grants program for redevelopment activities for brownfield sites and abandoned, idled, and underused industrial, commercial, or housing structures located in brownfield sites.

direct secretary housing_and_urban_development establish grants program redevelopment activities brownfield sites abandoned idled underused industrial commercial housing structures located brownfield sites


Summary: National Enterprise Zone Act of 2007 - Amends the Internal Revenue Code to direct the Secretary of the Treasury to designate areas in the United States and its possessions as National Enterprise Zones and to publish a list of such Zones. Requires a Zone to: (1) have more than 50,000 residents; (2) have a poverty rate of two times the national poverty rate; and (3) have an unemployment rate two times the national average. Allows corporate and noncorporate taxpayers with taxable income from an active trade or business within such a Zone to elect a reduced alternative income tax in lieu of existing income and alternative minimum tax rates.Requires the Secretary to study and report to Congress on the effectiveness of such program.

amends internal revenue code direct secretary treasury designate areas united_states possessions publish list zones requires zone residents poverty rate times national poverty rate unemployment rate times national average allows corporate noncorporate taxpayers taxable income active trade business zone elect reduced alternative income tax lieu existing income alternative minimum tax rates requires secretary study report congress effectiveness program


Summary: Regional Economic and Infrastructure Development Act of 2007 - (Sec. 3) Establishes the Delta Regional Commission, the Northern Great Plains Regional Commission, the Southeast Crescent Regional Commission, the Southwest Border Regional Commission, and the Northern Border Regional Commission.Directs each Commission, for its region, to: (1) assess needs and assets; (2) develop comprehensive and coordinated economic infrastructure development strategies to establish and approve grants for economic development; (3) establish priorities in an economic and infrastructure development plan; (4) enhance capacity of and provide support for local development districts; (5) encourage private investment in industrial, commercial, and other economic development projects; (6) cooperate with and assist state governments with the preparation of economic and infrastructure development plans and programs for participating states; (7) formulate and recommend to the governors and legislatures of participating states forms of interstate cooperation and, where appropriate, international cooperation; and (8) work with state and local agencies in developing appropriate model legislation to enhance local and regional economic development. Requires federal agencies to cooperate with and provide assistance to Commissions in carrying out this Act.Allows governments of Indian tribes in the region of the Northern Great Plains Regional Commission or the Southwest Border Regional Commission to participate in matters before those Commissions in the same manner and to the same extent as state agencies and instrumentalities participate.Requires each Commission to report annually to the President and Congress on its activities.Authorizes each Commission to make grants to states and local governments, Indian tribes, and public and nonprofit organizations for projects to: (1) develop transportation infrastructure, basic public infrastructure, and telecommunications infrastructure; (2) assist its region in obtaining job skills training, skills development and employment-related education, entrepreneurship, technology, and business development; (3) provide assistance to severely economically distressed and underdeveloped areas of its region that lack financial resources for improving basic health care and other public services; (4) promote resource conservation, tourism, recreation, and preservation of open space in a manner consistent with economic development goals; and (5) promote the development of renewable and alternative energy sources. Requires Commissions to allocate at least 40% of grant amounts in a fiscal year for infrastructure projects. Sets forth funding restrictions.Requires each member state of a Commission to submit a comprehensive economic and infrastructure development plan for its area of the region. Directs Commissions and applicable state and local development districts to encourage and assist public participation in the development, revision, and implementation of all plans and programs. Requires each Commission to develop guidelines for providing public participation.Sets forth provisions concerning the approval of applications for assistance for projects.Requires Commissions, in considering programs and projects to be provided assistance and in establishing a priority ranking of the requests for assistance, to consider: (1) the relationship of the project to overall regional development; (2) the per capita income and poverty, unemployment, and out-migration rates in an area; (3) the financial resources available to the applicants; (4) the importance of the project; (5) the prospects that the project will improve, on a continuing basis, the opportunities for employment, the average level of income, or the economic development of the area to be served; and (6) the extent to which the project provides for measurements by which projects can be evaluated.Authorizes Commissions to make grants to local development districts to assist in the payment of development planning and administrative expenses. Sets forth grant conditions.Requires local development districts to: (1) operate as lead organizations serving multi-county areas in regions at the local level; (2) assist Commissions in carrying out outreach activities for local governments, community development groups, the business community, and the public; (3) serve as liaisons between state and local governments, nonprofit organizations, the business community, and citizens; and (4) assist such individuals and entities in identifying, assessing, and facilitating projects and programs to promote the economic development.Sets forth requirements for supplemental funding for other federal grant programs that provide assistance in carrying out economic and community development activities.Declares that this Act does not require a state to engage in or accept a program under this Act.Requires each Commission to annually designate: (1) distressed counties that are most severely and persistently economically distressed; (2) transitional counties that are economically distressed and underdeveloped or have recently suffered high rates of poverty, unemployment, or out-migration; (3) attainment counties; and (4) isolated areas of distress in attainment counties that have high rates of poverty, unemployment, or out-migration. Sets forth funding restrictions.Prohibits a state's political subdivision from receiving assistance in a fiscal year from more than one Commission.Provides for the appointment of a single Inspector General for the Commissions, who shall audit the activities, transactions, and records of Commissions annually.Requires representatives of each Commission, the Appalachian Regional Commission, and the Denali Commission to meet biannually to discuss issues confronting regions suffering from chronic and contiguous distress and successful strategies for promoting regional development.Designates the states and political subdivisions of each Commission.Authorizes appropriations for FY2008-FY2012.(Sec. 5) Transfers all functions, assets, funds, personnel, records and property of: (1) the Delta Regional Authority to the Delta Regional Commission; and (2) the Northern Great Plains Regional Authority to the Northern Great Plains Regional Commission.

sec establishes southeast_crescent_regional_commission northern_border_regional_commission directs commission region assess needs assets develop comprehensive coordinated economic infrastructure development strategies establish approve grants economic development establish priorities economic infrastructure development plan enhance capacity provide support local development districts encourage private investment industrial commercial economic development projects cooperate assist state governments preparation economic infrastructure development plans programs participating states formulate recommend governors participating states forms interstate cooperation appropriate international cooperation work state local agencies developing appropriate model legislation enhance local regional economic development requires federal agencies cooperate provide assistance commissions carrying act allows governments indian tribes region northern great plains regional commission participate matters commissions manner extent state agencies instrumentalities participate requires commission report annually president congress activities authorizes commission grants states local governments indian tribes public nonprofit organizations projects develop transportation infrastructure basic public infrastructure telecommunications infrastructure assist region obtaining job skills training skills development employment related education entrepreneurship technology business development provide assistance severely economically distressed areas region lack financial resources improving basic health care public services promote resource conservation tourism recreation preservation open space manner consistent economic development goals promote development renewable alternative energy sources requires commissions allocate grant amounts fiscal year infrastructure projects sets forth funding restrictions requires member state commission submit comprehensive economic infrastructure development plan area region directs commissions applicable state local development districts encourage assist public participation development revision implementation plans programs requires commission develop guidelines providing public participation sets forth provisions concerning approval applications assistance projects requires commissions considering programs projects provided assistance establishing priority ranking requests assistance consider relationship project overall regional development capita income poverty unemployment migration rates area financial resources available applicants importance project prospects project improve continuing basis opportunities employment average level income economic development area served extent project provides measurements projects evaluated authorizes commissions grants local development districts assist payment development planning administrative expenses sets forth grant conditions requires local development districts operate lead organizations serving multi county areas regions local level assist commissions carrying outreach activities local governments community development groups business community public serve liaisons state local governments nonprofit organizations business community citizens assist individuals entities identifying assessing facilitating projects programs promote economic development sets forth requirements supplemental funding federal grant programs provide assistance carrying economic community development activities declares act require state engage accept program act requires commission annually designate distressed counties severely persistently economically distressed transitional counties economically distressed recently suffered high rates poverty unemployment migration attainment counties isolated areas distress attainment counties high rates poverty unemployment migration sets forth funding restrictions prohibits state political subdivision receiving assistance fiscal year commission provides appointment single inspector general commissions shall audit activities transactions records commissions annually requires representatives commission appalachian_regional_commission denali_commission meet biannually discuss issues regions suffering chronic contiguous distress successful strategies promoting regional development designates states political subdivisions commission authorizes appropriations fy2008 transfers functions assets funds personnel records property delta_regional_authority


Summary: Neighborhood Reclamation and Revitalization Program Act of 2007 - Authorizes the Secretary of Housing and Urban Development (HUD) to make grants to a local government to fund the demolition of vacant housing, or such demolition in combination with a study of neighborhood revitalization.

revitalization program act authorizes secretary housing_and_urban_development hud grants local government fund demolition vacant housing demolition combination study neighborhood revitalization


Summary: Revitalizing Cities Through Parks Enhancement Act - Directs the Secretary of Housing and Urban Development (HUD) to make grants to qualified community organizations to develop as open space municipally owned vacant lots in urban areas.

revitalizing cities parks enhancement act directs secretary housing_and_urban_development hud grants qualified community organizations develop open space municipally owned vacant lots urban areas


Summary: Amends the John Warner National Defense Authorization Act for Fiscal Year 2007 to repeal provisions authorizing the President to: (1) employ the Armed Forces to restore public order and enforce the law in major public emergencies; and (2) provide supplies, services, and equipment to persons affected by the situation. Restores previous authority of the President to use the Armed Forces to suppress situations which interfere with state or federal law.

amends john_warner_national_defense_authorization_act fiscal year repeal provisions authorizing president employ armed_forces restore public order enforce law major public emergencies provide supplies services equipment persons affected situation restores previous authority president use armed_forces suppress situations interfere state federal law


Summary: America COMPETES Act or America Creating Opportunities to Meaningfully Promote Excellence in Technology, Education, and Science Act - Division A: Commerce and Science - American Innovation and Competitiveness Act - Title I: Office of Science and Technology Policy; Government-Wide Science - (Sec. 1101) Directs the President to: (1) convene a National Science and Technology Summit to examine the health and direction of the United States' science, technology, engineering, and mathematics enterprises; and (2) issue a report on Summit results. Requires the Director of the Office of Science and Technology Policy (OSTP) to report annually to Congress on recommendations for areas of investment for federal research and technology programs. (Sec. 1102) Requires the: (1) OSTP Director to contract with the National Academy of Sciences (NAS) to conduct and complete a study to identify, and review methods to mitigate, new forms of risk for businesses beyond conventional operational and financial risk that affect the ability to innovate; and (2) NAS to report study results to Congress. Authorizes appropriations. (Sec. 1103) Amends the Stevenson-Wydler Technology Innovation Act of 1980 to rename the National Technology Medal established under such Act the National Technology and Innovation Medal. (Sec. 1104) Requires the OSTP Director to develop and issue a set of principles to ensure the communication and open exchange of data and results to other agencies, policymakers, and the public of research conducted by a scientist employed by a federal civilian agency and to prevent the intentional or unintentional suppression or distortion of such research findings. (Sec. 1105) Expresses the sense of Congress that the OSTP Director should: (1) encourage all elementary and middle schools to observe a Science, Technology, Engineering, and Mathematics Day twice in every school year; (2) initiate a program to encourage federal employees with scientific, technological, engineering, or mathematical skills to interact with school children on such Days; and (3) promote involvement in such Days by appropriate private sector and institution of higher education employees. (Sec. 1106) Expresses the sense of Congress that the federal government should better understand and respond strategically to the emerging management and learning discipline known as service science. Requires the OSTP Director to study and report to Congress on ways the federal government could support service science through research, education, and training. Title II: Innovation Promotion - (Sec. 1201) Directs the President to establish a President's Council on Innovation and Competitiveness to undertake various activities for promoting innovation and competitiveness in the United States, measure progress in such promotion, and report annually to the President and Congress on such progress. Requires the NAS to submit to the President a list of 50 recommended advisors to such Council. (Sec. 1202) Directs the President to: (1) establish the Innovation Acceleration Research Program to support and promote innovation in the United States through research projects; and (2) ensure that it is the goal of each executive agency that finances research in science, mathematics, engineering, and technology to allocate approximately 8% of that agency's total annual research and development (R&D) funding to research under the Program. Title III: National Aeronautics and Space Administration - (Sec. 1301) Requires that the National Aeronautics and Space Administration (NASA) be a full participant in any interagency effort to promote innovation and economic competitiveness through near- and long-term basic scientific R&D and the promotion of science, technology, engineering, and mathematics education. Requires an annual report from the NASA Administrator to Congress and the President on promotional activities conducted. (Sec. 1302) Directs the NASA Administrator to establish an Aeronautics Institute for Research for managing NASA aeronautics research. (Sec. 1303) Requires the NASA Administrator, the Director of the National Science Foundation (NSF), and the Secretaries of Energy, Defense, and Commerce to coordinate basic and fundamental research activities related to physical sciences, technology, engineering, and mathematics. Directs the NASA Administrator, in order to effectuate such coordination, to establish a Basic Research Executive Council to oversee the distribution and management of NASA programs and resources engaged in support of basic research activity. (Sec. 1304) Expresses the sense of Congress that the NASA Administrator should implement a program to address aging workforce issues in aerospace that: (1) documents technical and management experiences before senior people leave NASA; (2) provides incentives for retirees to return and teach new employees about such experiences; and (3) provides for development of an award to recognize outstanding senior employees for their contributions to knowledge sharing. (Sec. 1306) Directs the NASA Administrator to increase funding for FY2008 for basic science and research, including for the Explorer Program, through transfer from other NASA accounts. Title IV: National Institute of Standards and Technology - (Sec. 1401) Authorizes appropriations to the Secretary of Commerce for the National Institute of Standards and Technology (NIST) for the Hollings Manufacturing Extension Partnership Program. (Sec. 1402) Amends the Stevenson-Wydler Technology Innovation Act of 1980 to repeal provisions establishing the Technology Administration within the Department of Commerce. (Sec. 1403) Requires the NIST Director to: (1) establish the Standards and Technology Acceleration Research Program to support and promote innovation in the United States through high-risk, high-reward research; (2) set aside for such Program no less than 8% of the funds available to NIST each year; and (3) issue an annual report on Program activities. (Sec. 1404) Amends the National Institute of Standards and Technology Act to require that a Manufacturing Center that has not received a positive evaluation shall be notified of the deficiencies in its performance and placed on probation for one year, after which an evaluation panel shall reevaluate such Center. Authorizes the acceptance of funds from other federal departments and agencies and the private sector for the purpose of strengthening U.S. manufacturing. (Sec. 1405) Requires the NIST Director to: (1) reestablish the Experimental Program to Stimulate Competitive Technology to strengthen the technological competitiveness of states that have historically received less federal R&D funds than the majority of the states; and (2) report to specified congressional committees on such Program. (Sec. 1407) Amends the National Institute of Standards and Technology Act to generally revise provisions concerning eligible contributions for the financial support of regional centers responsible for implementing the objectives of the Hollings Manufacturing Extension Partnership Program. Title V: Ocean and Atmospheric Programs - (Sec. 1501) Directs the Administrator of the National Oceanic and Atmospheric Administration (NOAA) to establish a program of ocean, coastal, Great Lakes, and atmospheric R&D, in collaboration with academic institutions and other nongovernmental entities, to focus on the development of advanced technologies and methods to promote U.S. leadership in ocean and atmospheric science as well as competitiveness in applied uses of such R&D. (Sec. 1502) Requires the NOAA Administrator to: (1) conduct, develop, support, promote, and coordinate educational activities to enhance public awareness and understanding of ocean, coastal, Great Lakes, and atmospheric science and stewardship by the general public and other coastal stakeholders; and (2) develop a 20-year ocean, coastal, and atmospheric science education plan. (Sec. 1503) Requires that NOAA be a full participant in any interagency effort to promote innovation and economic competitiveness through basic scientific R&D and the promotion of science, technology, engineering, and mathematics education. (Sec. 1504) Requires the Inspector General of the Department of Commerce to conduct routine, independent reviews of activities carried out with NOAA grants or other financial assistance. Outlines provisions prohibiting conflicts of interests in the use of such financial assistance. Division B: Department of Energy - Protecting America's Competitive Edge Through Energy Act or PACE-Energy Act - (Sec. 2003) Amends the Department of Energy Science Education Enhancement Act to require the Secretary of Energy (Secretary, for purposes of this Division) to appoint a Director of Mathematics, Science, and Engineering Education (MSEE) to administer mathematics, science, and engineering education at the Department of Energy (DOE). Authorizes appropriations. Requires the Secretary to establish a Mathematics, Science, and Engineering Education Fund. Directs the Secretary to award grants to states for establishing or expanding public, statewide specialty schools for mathematics and science. Requires the MSEE Director to make funds available for a program using scientific and engineering staff of DOE national laboratories to: (1) assist teachers in teaching courses at schools funded under the program; (2) use national laboratory scientific equipment in teaching the courses; and (3) use distance education and other technologies in providing assistance to such schools. Limits to 50% the federal share of program costs. Allows funds to be used only for activities directly related to improving student academic achievement in mathematics, science, technology, and engineering. Requires: (1) states receiving assistance to carry out an evaluation and accountability plan for the use of such funds, and to report such evaluation and plan to the MSEE Director; and (2) the MSEE Director to report to the appropriate congressional committees on the impact of such activities. Authorizes appropriations. Directs the Secretary to establish a summer internship program of at least two weeks for middle and secondary school students that: (1) provides students with internships at national laboratories; and (2) promotes hands-on learning in mathematics, science, technology, or engineering. Provides intern selection priorities, including students from low-income families. Directs the Secretary to establish outreach and experiential-based learning programs that encourage underrepresented minority students in kindergarten through grade 12 to pursue careers in mathematics, science, and engineering. Authorizes appropriations. Requires the Secretary to establish at each of the national laboratories a program to support a Center of Excellence in Mathematics, Science, Technology, and Engineering at one high-need public secondary school in the area. Requires the MSEE Director to make funds available for a program using scientific and engineering staff at the national laboratories to: (1) assist teachers in teaching courses at such Centers; and (2) use national laboratory scientific equipment in teaching the courses. Requires the MSEE Director to develop an evaluation and accountability plan for activities funded under the program. Directs the Secretary to establish or expand programs of summer institutes at each of the national laboratories to provide additional training to strengthen the mathematics, science, technology, and engineering skills of teachers employed at public schools for kindergarten through grade 12. Requires the Secretary to provide assistance to eligible partners (the mathematics, science, or engineering departments at institutions of higher education in the area) to participate in such program. Requires the: (1) MSEE Director to develop an evaluation and accountability plan for activities funded under the program; and (2) Secretary to report annually to Congress on the impact of the program. Authorizes appropriations. Directs the Secretary to establish a program to expand and enhance higher education nuclear science educational capabilities through the award of up to three grants per fiscal year to higher education institutions that partner with a national laboratory or other eligible nuclear-related entity. Authorizes such grants for five years at up to $1 million per year. Directs the Secretary to award up to ten grants per fiscal year to higher education institutions with existing academic degree programs that produce graduates in nuclear science. Authorizes such grants for five years at up to $500,000 per year. Authorizes appropriations for the grant programs. Requires the MSEE Director to establish a program to recruit and provide mentors for women and underrepresented minorities who are interested in careers in mathematics, science, and engineering. Directs the Secretary to annually: (1) evaluate program success; and (2) report evaluation results to Congress. Directs the Secretary to provide grants to states for establishing or expanding programs to enhance the quality of science education in elementary schools with respect to conventional and emerging energy sources and uses. Limits to 50% the federal share of program costs. Authorizes appropriations. (Sec. 2004) Requires the Secretary to award not less than 65 grants per year to outstanding early-career researchers to support their work in DOE, particularly at national laboratories, or at other federally-funded R&D centers. Authorizes such grants for five years at up to $100,000 per year. Authorizes appropriations. (Sec. 2005) Directs the Secretary to establish an Advanced Research Projects Authority-Energy, headed by a Director, to overcome the long-term and high-risk technological barriers to the development of energy technologies. Requires the Secretary to establish an Advisory Board to make recommendations to the Secretary and the Director. Requires NAS to conduct two reviews of actions taken under this section, and to report review results to Congress, the Secretary, and the Director. Authorizes appropriations. (Sec. 2006) Amends the Energy Policy Act of 2005 to increase and extend through FY2012 the authorization of appropriations for basic research. (Sec. 2007) Requires the Secretary to establish multidisciplinary institutes centered at national laboratories to apply fundamental science and engineering discoveries to technological innovations related to missions of DOE and the global competitiveness of the United States. Requires, under the program, the establishing of partnerships between the institutes and institutions of higher education, private industry, state and local governments, and financing entities for technology commercialization. Allows up to three institutes to receive grants in a fiscal year. Requires NAS to review institutes' performance and report review results to Congress. Authorizes appropriations. (Sec. 2008) Directs the Secretary to establish a graduate fellowship program for students pursuing a doctoral degree in a DOE mission area. Limits fellowships to five years. Authorizes appropriations. (Sec. 2009) Directs the Secretary to report to the congressional energy committees on DOE actions taken to implement the recommendations in the Government Accountability Office (GAO) report numbered 04-639 (concerning compliance with title IX of the Education Amendments of 1972). Requires the Secretary to conduct annual reviews of at least two recipients of DOE grants concerning such compliance. (Sec. 2010) Requires the Secretary and the Director of the U.S. Geological Survey to each conduct a grant program to encourage the conduct of high-risk, high-reward research at their respective agencies. (Sec. 2011) Directs the Secretary to establish a program to support the joint appointment of distinguished scientists by higher education institutions and national laboratories. Makes such appointments for six years. Requires appointing institutions to pay at least 50% of appointment costs. Authorizes appropriations. Division C: Education - Title I: Teacher Assistance - Subtitle A: Teachers for a Competitive Tomorrow - (Sec. 3113) Authorizes the Secretary of Education (Secretary, for purposes of this Division) to award grants to enable educational partnerships to develop and implement programs to provide courses of study in mathematics, science, engineering or critical foreign languages that: (1) are integrated with teacher education; and (2) lead to a baccalaureate degree with concurrent teacher certification. Requires an annual activities report from each recipient to the Secretary. (Sec. 3114) Authorizes the Secretary to award grants to educational partnerships to develop and implement: (1) two- or three-year part-time master's degree programs in mathematics, science, technology, or critical foreign language education for teachers in order to enhance the teacher's content knowledge and teaching skills; or (2) programs in mathematics, science, technology, or critical foreign language that lead to a one-year master's degree in teaching that results in teacher certification. Requires an annual activities report from each recipient to the Secretary. (Sec. 3115) Directs the Secretary to award each of the above grants for up to five years. Requires 50% non-federal matching funds. Requires: (1) an annual independent evaluation of activities assisted under this Subtitle; and (2) an annual report from the Secretary to specified congressional committees on evaluation results. (Sec. 3116) Authorizes appropriations. Subtitle B: Advanced Placement and International Baccalaureate Programs - (Sec. 3123) Authorizes the Secretary to award grants for up to five-year periods to enable educational agencies or partnerships to carry out activities designed to increase the number of: (1) qualified teachers serving high-needs (low-income or rural area) schools who are teaching advanced placement or international baccalaureate courses in mathematics, science, or critical foreign languages; and (2) students attending such schools who enroll in and pass the examinations for such courses. Requires: (1) each recipient to report annually to the Secretary on grant results; and (2) the Secretary to conduct an independent evaluation of the program and report evaluation results to specified congressional committees. Subtitle C: Promising Practices in Mathematics, Science, Technology, and Engineering Teaching - (Sec. 3131) Authorizes the Secretary to contract with NAS to convene a national panel to identify promising practices in the teaching of mathematics, science, technology, and engineering in kindergarten through grade 12. Requires the dissemination of information collected by the panel to the public and state and local educational agencies. Authorizes appropriations. Title II: Mathematics - (Sec. 3201) Authorizes the Secretary to award grants for up to five-year periods to local educational agencies (LEAs), via states, to: (1) implement mathematics programs or initiatives that are research-based; (2) provide professional development and instructional leadership activities for teachers and administrators on the implementation of mathematics initiatives; and (3) conduct student mathematics progress monitoring and identify areas in which students need help in learning mathematics. Requires: (1) state grantees to contribute 50% of program costs; (2) state grantees to report annually to the Secretary on grant results; and (3) the Secretary to conduct an independent evaluation of the programs and report evaluation results to specified congressional committees. Authorizes appropriations. (Sec. 3202) Directs the Secretary to carry out a demonstration program in which the Secretary awards grants to states for the federal share of summer learning grants for eligible students. Allows up to five grants per fiscal year. Limits to 50% the federal share of such grants. Requires: (1) the educational entities operating summer programs to report annually to the Secretary on activities and outcomes of each summer learning opportunity that enrolled a summer scholar; (2) the Secretary to report annually during the grant period to the education committees on the grant program; and (3) the Secretary to make accessible, on the Department of Education website, information for summer learning opportunities. Authorizes appropriations. (Sec. 3203) Authorizes appropriations for a four-year period during which the Secretary shall establish a program that provides grants to states, and through them, subgrants to LEAs for establishing mathematics programs to improve the overall mathematics performance of secondary school students. Provides: (1) a minimum grant amount of $500,000; and (2) a state matching funds requirement of 50% of program costs. Requires state grantees to report annually to the Secretary on grant results. Title III: Foreign Language Partnership Program - (Sec. 3303) Authorizes the Secretary to award grants to enable partnerships to establish programs of study in critical foreign languages that will enable students to advance successfully from elementary school through postsecondary education and achieve higher levels of proficiency in such language. Makes such grants for five-year periods, authorizing the Secretary to renew grants for up to two additional five-year periods. Outlines matching funds requirements. Directs the Secretary to report program evaluation results to specified congressional committees annually during the grant period. (Sec. 3304) Authorizes appropriations. Title IV: Alignment of Education Programs - (Sec. 3401) Authorizes the Secretary to award grants to enable states to work with a statewide partnership to: (1) promote better alignment of content knowledge requirements of secondary school graduation with the knowledge and skills needed to succeed in postsecondary education, the 21st century workforce, or the Armed Forces; or (2) to establish or improve a statewide P-16 (preschool through baccalaureate degree) education data system. Requires each state to match grant fund amounts. Authorizes appropriations. Title V: Mathematics and Science Partnership Bonus Grants - (Sec. 3501) Directs the Secretary to award grants, during school years 2007-2008 through 2010-2011, to each of the three elementary and three secondary schools with a high concentration of low-income students in each state whose students demonstrate the most improvement in mathematics and science, respectively. (Sec. 3502) Authorizes appropriations. Division D: National Science Foundation - (Sec. 4001) Authorizes appropriations for FY2008-FY2011 to the NSF. Requires the NSF Director to submit to specified congressional committees a comprehensive, multiyear plan that describes how such authorized funds, if appropriated, would be used. (Sec. 4002) Earmarks funds for NSF education and human resources programs for FY2008-FY2011. (Sec. 4003) Requires the NSF Director, during the four-year period beginning on the date of enactment of this Act, to expand the NSF's Graduate Research Fellowship Program so that an additional 1,250 fellowships are awarded during such period to U.S. citizens, nationals, or lawful permanent residents. Authorizes appropriations. Requires the NSF Director, during the same period, to expand the NSF's Integrative Graduate Education and Research Traineeship program so that an additional 1,250 U.S. citizens, nationals, or lawful permanent residents are awarded grants during such period. Authorizes appropriations. (Sec. 4004) Requires the NSF Director to establish a clearinghouse, in collaboration with four-year institutions of higher education, industries, and federal agencies that employ science-trained personnel, to share program elements used in successful professional science master's degree programs and other advanced degree programs related to science, mathematics, technology, and engineering. Requires the Director to award four-year grants to such institutions of higher education to facilitate their creation or improvement of professional science master's degree programs. Allows the Director to award up to 200 of such grants, which shall be for a three-year period, with one authorized renewal for an additional two-year period. Requires the Director to evaluate the program and report evaluation results to Congress. Earmarks funds for such grants. (Sec. 4005) Earmarks funds to carry out the science, mathematics, engineering, and technology talent expansion program under the National Science Foundation Authorization Act of 2002. Provides for program outreach. (Sec. 4006) Requires the NSF Director to: (1) consider the degree to which NSF-eligible awards and research activities may assist in meeting critical national needs in innovation, competitiveness, the physical and natural sciences, technology, engineering, and mathematics; and (2) give priority in the selection of NSF awards, research resources, and grants to entities that can be expected to make contributions in such fields. (Sec. 4007) Prohibits anything in Divisions A or D of this Act from being construed to alter or modify the NSF merit-review system or peer-review process. (Sec. 4008) Earmarks funds for FY2008-FY2011 for the Experimental Program to Stimulate Competitive Research under the National Science Foundation Authorization Act of 1988. (Sec. 4009) Requires the NSF Director to: (1) establish a program to recruit and provide mentors for women interested in careers in science, technology, engineering, or mathematics; (2) establish a program to provide grants to community colleges to provide additional learning and training to allow women to enter higher-paying technical jobs in fields related to science, technology, engineering, or mathematics; and (3) evaluate such programs and report annually to Congress on evaluation results. (Sec. 4010) Requires the NSF Director to develop and publish a plan describing the current status for broadband access for scientific research purposes in states located in EPSCoR (Experimental Program to Stimulate Competitive Research) eligible jurisdictions and outlines actions to ensure that such connections are available to participate in NSF programs which rely heavily on high-speed networking and collaborations across institutions and regions. (Sec. 4011) Requires the NSF Director to: (1) establish a grant program of basic research in advanced information and communications technologies focused on enhancing or facilitating the availability and affordability of advanced communications services to all people of the United States; and (2) establish a Federal Advanced Information and Communications Technology Research Board to aid and advise with respect to such efforts. Requires, as part of such grants, the establishment of multidisciplinary Centers for Communications Research. Earmarks funds for such purposes. (Sec. 4012) Amends the National Science Foundation Authorization Act of 2002 concerning the Robert Noyce Scholarship Program to: (1) rename such Program the Robert Noyce Teacher Program; and (2) require the NSF Director to develop and implement a program to recruit and prepare mathematics, science, or engineering professionals to become NSF Teaching Fellows, and to recruit existing teachers to become NSF Master Teaching Fellows. Requires a 50% matching funds requirement from non-federal sources. Increases Program stipend amounts. Requires Teaching Fellows to serve for four years, and Master Teaching Fellows to serve five years, in a high-need LEA. Requires the NSF Director to report to Congress on program effectiveness. Earmarks funds for the Program. (Sec. 4013) Expresses the sense of the Senate that the NSF Director and the Secretary of Education should have ongoing collaboration to ensure that their respective mathematics and science partnership programs continue to work in concert (and not duplicatively) for the benefit of states and local practitioners. (Sec. 4014) Earmarks funds for FY2008-FY2011 for the NSF Teacher Institutes for the 21st Century program under the National Science Foundation Authorization Act of 2002. Provides additional Program requirements. (Sec. 4015) Requires the NSF Director to establish the Partnerships for Access to Laboratory Science pilot program to award grants to partnerships to pay the federal share of costs of improving laboratories and providing instrumentation as part of a comprehensive program to enhance the quality of mathematics, science, engineering, and technology instruction at the secondary school level. Requires the Director to: (1) evaluate the effectiveness of activities carried out under the pilot program; and (2) report evaluation results to specified congressional committees. Terminates the pilot program at the beginning of FY2012. Authorizes appropriations. Division E: General Provisions - (Sec. 5001) Directs the Secretary of Commerce to establish a program within the Bureau of Economic Analysis to collect and study data relating to the export and import of services. Authorizes appropriations. (Sec. 5002) Expresses the sense of the Senate that the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board should complete promulgation of the final rules implementing section 404 of the Sarbanes-Oxley Act of 2002 (concerning auditing standards and their effect on small and mid-sized businesses). (Sec. 5003) Directs the Comptroller General, within three years after enactment of this Act, to report to Congress assessing, and recommending improvements to, activities, grants, and programs carried out under this Act. (Sec. 5004) Prohibits federal funds from being provided to any organization or entity that advocates against tax competition or U.S. tax competitiveness. (Sec. 5005) Directs the Secretary of Commerce to contract with the NAS to conduct and complete a feasibility study on creating a national, free online college degree program that would be available to all individuals eligible for student loan assistance under the Higher Education Act of 1965 who wish to pursue a degree in a field of strategic importance to the United States and where expertise is in demand, such as mathematics, sciences, and foreign languages. Authorizes appropriations. (Sec. 5006) Expresses the sense of the Senate that: (1) government policies related to deemed exports should safeguard U.S. national security and protect fundamental research; (2) the Department of Commerce has established the Deemed Export Advisory Committee to develop recommendations for improving current controls on deemed exports; and (3) the Administration and Congress should consider the Committee's recommendations in its development and implementation of export control policy. (Sec. 5007) Expresses the sense of the Senate that: (1) Congress, the President, regulators, industry leaders, and other stakeholders should take necessary steps to reclaim the preeminent U.S. position in the global financial services marketplace; (2) federal and state financial regulatory agencies should take certain steps to avoid adverse consequences on innovation with respect to financial products and services, and regulatory costs that are disproportionate to their benefits; and (3) Congress should exercise vigorous oversight over federal regulatory and statutory requirements affecting the financial services industry and consumers.

america competes act america creating opportunities meaningfully promote excellence technology education commerce office science technology policy government wide science sec directs president convene examine health direction science technology engineering mathematics enterprises issue report summit results requires director office_of_science_and_technology_policy ostp report annually congress recommendations areas investment federal research technology programs sec requires ostp director contract national_academy_of_sciences nas conduct complete study identify review methods mitigate new forms risk businesses conventional operational financial risk affect ability innovate nas report study results congress authorizes appropriations sec amends stevenson wydler technology innovation act rename national technology medal established act sec requires ostp director develop issue set principles ensure communication open exchange data results agencies policymakers public research conducted scientist employed federal civilian agency prevent intentional unintentional suppression research findings sec expresses sense congress ostp director encourage elementary middle schools observe mathematics day twice school year initiate program encourage federal employees scientific technological engineering mathematical skills interact school children days promote involvement days appropriate private sector institution higher education employees sec expresses sense congress federal government better understand respond strategically emerging management learning discipline known service science requires ostp director study report congress ways federal government support service science research education training title innovation promotion sec directs president establish undertake activities promoting innovation competitiveness united_states measure progress promotion report annually president congress progress requires nas submit president list recommended advisors council sec directs president establish support promote innovation united_states research projects ensure goal executive agency finances research science mathematics engineering technology allocate approximately agency total annual research development funding research program title iii national_aeronautics_and_space_administration sec requires national_aeronautics_and_space_administration nasa participant interagency effort promote innovation economic competitiveness near- long term basic scientific promotion science technology engineering mathematics education requires annual report nasa administrator congress president promotional activities conducted sec directs nasa administrator establish managing nasa aeronautics research sec requires nasa administrator director national_science_foundation nsf defense commerce coordinate basic fundamental research activities related physical sciences technology engineering mathematics directs nasa administrator order effectuate coordination establish oversee distribution management nasa programs resources engaged support basic research activity sec expresses sense congress nasa administrator implement program address aging workforce issues aerospace documents technical management experiences senior people leave nasa provides incentives retirees return teach new employees experiences provides development award recognize outstanding senior employees contributions knowledge sharing sec directs nasa administrator increase funding fy2008 basic science research including transfer nasa accounts title national_institute_of_standards_and_technology sec authorizes appropriations secretary commerce national_institute_of_standards_and_technology nist hollings_manufacturing_extension_partnership_program sec amends stevenson wydler technology innovation act repeal provisions establishing technology_administration department_of_commerce sec requires nist director establish support promote innovation united_states high risk high reward research set aside program funds available nist year issue annual report program activities sec amends national_institute_of_standards_and_technology_act require received positive evaluation shall notified deficiencies performance placed probation year evaluation panel shall reevaluate center authorizes acceptance funds federal departments agencies private sector purpose strengthening manufacturing sec requires nist director reestablish experimental_program stimulate competitive technology strengthen technological competitiveness states historically received federal funds majority states report specified congressional committees program sec amends national_institute_of_standards_and_technology_act generally revise provisions concerning eligible contributions financial support regional centers responsible implementing objectives hollings_manufacturing_extension_partnership_program title ocean sec directs administrator national_oceanic_and_atmospheric_administration noaa establish program ocean coastal great_lakes atmospheric collaboration academic institutions nongovernmental entities focus development advanced technologies methods promote leadership ocean atmospheric science competitiveness applied uses sec requires noaa administrator conduct develop support promote coordinate educational activities enhance public awareness understanding ocean coastal great_lakes atmospheric science stewardship general public coastal stakeholders develop year ocean coastal atmospheric science education plan sec requires noaa participant interagency effort promote innovation economic competitiveness basic scientific promotion science technology engineering mathematics education sec requires inspector general department_of_commerce conduct routine independent reviews activities carried noaa grants financial assistance outlines provisions prohibiting conflicts interests use financial assistance division pace energy act sec amends require secretary energy secretary purposes division appoint director mathematics science engineering education administer mathematics science engineering education department_of_energy doe authorizes appropriations requires secretary establish mathematics science engineering education fund directs secretary award grants states establishing expanding public statewide specialty schools mathematics science requires director funds available program scientific engineering staff doe national laboratories assist teachers teaching courses schools funded program use national laboratory scientific equipment teaching courses use distance education technologies providing assistance schools limits federal share program costs allows funds activities directly related improving student academic achievement mathematics science technology engineering requires states receiving assistance carry evaluation accountability plan use funds report evaluation plan director director report appropriate congressional committees impact activities authorizes appropriations directs secretary establish summer internship program weeks middle secondary school students provides students internships national laboratories promotes hands learning mathematics science technology engineering provides intern selection priorities including students low income families directs secretary establish outreach experiential based learning programs encourage underrepresented minority students kindergarten grade pursue careers mathematics science engineering authorizes appropriations requires secretary establish national laboratories program support center excellence mathematics engineering high need public secondary school area requires director funds available program scientific engineering staff national laboratories assist teachers teaching courses centers use national laboratory scientific equipment teaching courses requires director develop evaluation accountability plan activities funded program directs secretary establish expand programs summer institutes national laboratories provide additional training strengthen mathematics science technology engineering skills teachers employed public schools kindergarten grade requires secretary provide assistance eligible partners mathematics science engineering departments institutions higher education area participate program requires director develop evaluation accountability plan activities funded program secretary report annually congress impact program authorizes appropriations directs secretary establish program expand enhance higher education nuclear science educational capabilities award grants fiscal year higher education institutions partner national laboratory eligible nuclear related entity authorizes grants years million year directs secretary award grants fiscal year higher education institutions existing academic degree programs produce graduates nuclear science authorizes grants years year authorizes appropriations grant programs requires director establish program recruit provide mentors women underrepresented minorities interested careers mathematics science engineering directs secretary annually evaluate program success report evaluation results congress directs secretary provide grants states establishing expanding programs enhance quality science education elementary schools respect conventional emerging energy sources uses limits federal share program costs authorizes appropriations sec requires secretary award grants year outstanding early career researchers support work doe particularly national laboratories federally funded centers authorizes grants years year authorizes appropriations sec directs secretary establish headed director overcome long term high risk technological barriers development energy technologies requires secretary establish advisory_board recommendations secretary director requires nas conduct reviews actions taken section report review results congress secretary director authorizes appropriations sec amends energy policy act increase extend fy2012 authorization appropriations basic research sec requires secretary establish multidisciplinary institutes centered national laboratories apply fundamental science engineering discoveries technological innovations related missions doe global competitiveness united_states requires program establishing partnerships institutes institutions higher education private industry state local governments financing entities technology commercialization allows institutes receive grants fiscal year requires nas review institutes performance report review results congress authorizes appropriations sec directs secretary establish graduate fellowship program students pursuing doctoral degree doe mission area limits fellowships years authorizes appropriations sec directs secretary report congressional energy committees doe actions taken implement recommendations government_accountability_office gao report numbered concerning compliance title education_amendments requires secretary conduct annual reviews recipients doe grants concerning compliance sec requires secretary director conduct grant program encourage conduct high risk high reward research respective agencies sec directs secretary establish program support joint appointment distinguished scientists higher education institutions national laboratories makes appointments years requires appointing institutions pay appointment costs authorizes appropriations division education title teacher assistance subtitle teachers competitive tomorrow sec authorizes secretary education secretary purposes division award grants enable educational partnerships develop implement programs provide courses study mathematics science engineering critical foreign languages integrated teacher education lead baccalaureate degree concurrent teacher certification requires annual activities report recipient secretary sec authorizes secretary award grants educational partnerships develop implement two- year time master degree programs mathematics science technology critical foreign language education teachers order enhance teacher content knowledge teaching skills programs mathematics science technology critical foreign language lead year master degree teaching results teacher certification requires annual activities report recipient secretary sec directs secretary award grants years requires non federal matching funds requires annual independent evaluation activities assisted subtitle annual report secretary specified congressional committees evaluation results sec authorizes appropriations subtitle advanced_placement authorizes secretary award grants year periods enable educational agencies partnerships carry activities designed increase number qualified teachers serving high needs low income rural area schools teaching advanced placement international baccalaureate courses mathematics science critical foreign languages students attending schools enroll pass examinations courses requires recipient report annually secretary grant results secretary conduct independent evaluation program report evaluation results specified congressional committees subtitle promising practices mathematics science technology engineering teaching sec authorizes secretary contract nas convene national panel identify promising practices teaching mathematics science technology engineering kindergarten grade requires dissemination information collected panel public state local educational agencies authorizes appropriations title mathematics sec authorizes secretary award grants year periods local educational agencies leas states implement mathematics programs initiatives research based provide professional development instructional leadership activities teachers administrators implementation mathematics initiatives conduct student mathematics progress monitoring identify areas students need help learning mathematics requires state grantees contribute program costs state grantees report annually secretary grant results secretary conduct independent evaluation programs report evaluation results specified congressional committees authorizes appropriations sec directs secretary carry demonstration program secretary awards grants states federal share summer learning grants eligible students allows grants fiscal year limits federal share grants requires educational entities operating summer programs report annually secretary activities outcomes summer learning opportunity enrolled summer scholar secretary report annually grant period education committees grant program secretary accessible department_of_education website information summer learning opportunities authorizes appropriations sec authorizes appropriations year period secretary shall establish program provides grants states subgrants leas establishing mathematics programs improve overall mathematics performance secondary school students provides minimum grant state matching funds requirement program costs requires state grantees report annually secretary grant results title iii foreign language partnership program sec authorizes secretary award grants enable partnerships establish programs study critical foreign languages enable students advance successfully elementary school postsecondary education achieve higher levels proficiency language makes grants year periods authorizing secretary renew grants additional year periods outlines matching funds requirements directs secretary report program evaluation results specified congressional committees annually grant period sec authorizes appropriations title alignment education programs sec authorizes secretary award grants enable states work statewide partnership promote better alignment content knowledge requirements secondary school graduation knowledge skills needed succeed postsecondary education 21st century workforce armed_forces establish improve statewide p-16 preschool baccalaureate degree education data system requires state match grant fund amounts authorizes appropriations title mathematics sec directs secretary award grants school years elementary secondary schools high concentration low income students state students demonstrate improvement mathematics science respectively sec authorizes appropriations division national science foundation sec authorizes appropriations fy2008 fy2011 nsf requires nsf director submit specified congressional committees comprehensive multiyear plan describes authorized funds appropriated sec earmarks funds nsf education human resources programs fy2008 fy2011 sec requires nsf director year period beginning date enactment act expand nsf additional fellowships awarded period citizens nationals lawful permanent residents authorizes appropriations requires nsf director period expand nsf research_traineeship program additional citizens nationals lawful permanent residents awarded grants period authorizes appropriations sec requires nsf director establish clearinghouse collaboration year institutions higher education industries federal agencies employ science trained personnel share program elements successful professional science master degree programs advanced degree programs related science mathematics technology engineering requires director award year grants institutions higher education facilitate creation improvement professional science master degree programs allows director award grants shall year period authorized renewal additional year period requires director evaluate program report evaluation results congress earmarks funds grants sec earmarks funds carry science mathematics engineering technology talent expansion program national_science_foundation_authorization_act provides program outreach sec requires nsf director consider degree nsf eligible awards research activities assist meeting critical national needs innovation competitiveness physical natural sciences technology engineering mathematics priority selection nsf awards research resources grants entities expected contributions fields sec prohibits divisions act construed alter modify nsf merit review system peer review process sec earmarks funds fy2008 fy2011 experimental_program stimulate national_science_foundation_authorization_act sec requires nsf director establish program recruit provide mentors women interested careers science technology engineering mathematics establish program provide grants community colleges provide additional learning training allow women enter higher paying technical jobs fields related science technology engineering mathematics evaluate programs report annually congress evaluation results sec requires nsf director develop publish plan describing current status broadband access scientific research purposes states located epscor experimental program stimulate competitive research eligible jurisdictions outlines actions ensure connections available participate nsf programs rely heavily high speed networking collaborations institutions regions sec requires nsf director establish grant program basic research advanced information communications technologies focused enhancing facilitating availability affordability advanced communications services people united_states establish federal advanced information aid advise respect efforts requires grants establishment multidisciplinary earmarks funds purposes sec amends national_science_foundation authorization act concerning robert noyce scholarship program rename program robert noyce teacher program require nsf director develop implement program recruit prepare mathematics science engineering professionals nsf recruit existing teachers nsf master requires matching funds requirement non federal sources stipend amounts requires serve years master teaching fellows serve years high need lea requires nsf director report congress program effectiveness earmarks funds program sec expresses sense senate nsf director secretary education ongoing collaboration ensure respective mathematics science partnership programs continue work concert benefit states local practitioners sec earmarks funds fy2008 fy2011 nsf teacher institutes 21st century program national_science_foundation_authorization_act provides additional program requirements sec requires nsf director establish pilot program award grants partnerships pay federal share costs improving laboratories providing instrumentation comprehensive program enhance quality mathematics science engineering technology instruction secondary school level requires director evaluate effectiveness activities carried pilot program report evaluation results specified congressional committees terminates pilot program beginning fy2012 authorizes appropriations division general provisions sec directs secretary commerce establish program bureau_of_economic_analysis collect study data relating export import services authorizes appropriations sec expresses sense senate securities_and_exchange_commission sec public_company_accounting_oversight_board complete promulgation final rules implementing section sarbanes oxley act concerning auditing standards effect small mid sized businesses sec directs comptroller general years enactment act report congress assessing recommending improvements activities grants programs carried act sec prohibits federal funds provided organization entity advocates tax competition tax competitiveness sec directs secretary commerce contract nas conduct complete feasibility study creating national free online college degree program available individuals eligible student loan assistance higher education act wish pursue degree field strategic importance united_states expertise demand mathematics sciences foreign languages authorizes appropriations sec expresses sense senate government policies related deemed exports safeguard national security protect fundamental research department_of_commerce established develop recommendations improving current controls deemed exports administration congress consider committee recommendations development implementation export control policy sec expresses sense senate congress president regulators industry leaders stakeholders necessary steps reclaim preeminent position global financial services marketplace federal state financial regulatory agencies certain steps avoid adverse consequences innovation respect financial products services regulatory costs disproportionate benefits congress exercise vigorous oversight federal regulatory statutory requirements affecting financial services industry consumers


Summary: Economic Development Act of 2007 - Authorizes any state to provide to any person for economic development purposes tax incentives that otherwise would be the cause or source of discrimination against interstate commerce under the Commerce Clause of the Constitution. Disqualifies any incentive that: (1) is dependent upon the state or country of incorporation, commercial domicile, or residence of an individual; (2) requires the recipient to acquire, lease, license, use, or provide services to property created in the state; (3) is reduced or eliminated as a result of an increase in out-of-state activity by the recipient or other person or as a result of such other person not having a taxable presence in the state; (4) results in loss of a compensating tax system, because the tax on interstate commerce exceeds the tax on intrastate commerce; (5) requires that other taxing jurisdictions offer reciprocal tax benefits; or (6) requires that a tax incentive earned with respect to one tax can only be used to reduce a tax burden for, or provide a tax benefit against, any other tax that is not imposed on apportioned interstate activities.

economic development act authorizes state provide person economic development purposes tax incentives cause source discrimination interstate commerce commerce clause constitution disqualifies incentive dependent state country incorporation commercial domicile residence individual requires recipient acquire lease license use provide services property created state reduced eliminated result increase state activity recipient person result person having taxable presence state results loss compensating tax system tax interstate commerce exceeds tax intrastate commerce requires taxing jurisdictions offer reciprocal tax benefits requires tax incentive earned respect tax reduce tax burden provide tax benefit tax imposed apportioned interstate activities


Summary: Empowerment Zone and Renewal Community Enhancement Act of 2007 - Amends Internal Revenue Code provisions relating to tax-preferred empowerment zones, rural enterprise communities, and renewal communities to: (1) extend the period of designation for such areas through 2015; (2) provide a safe harbor standard for employee residency requirements in empowerment zones; (3) eliminate certain residency requirements for the empowerment zone employment tax credit; (4) grant authority to expand the boundaries of empowerment zones and enterprise communities, including those located in rural areas; (5) allow carryovers of unused expensing allowances for enterprise zone businesses; (6) allow certain empowerment zone businesses to elect to receive payments in lieu of tax benefits; (7) allow federal guarantees and tax exemptions for enterprise zones and renewal communities; and (8) allow the issuance of tax-exempt rural enterprise community bonds.

empowerment zone enhancement act 2007_-_amends_internal_revenue code provisions relating tax preferred empowerment zones rural enterprise communities renewal communities extend period designation areas provide safe harbor standard employee residency requirements empowerment zones eliminate certain residency requirements empowerment zone employment tax credit grant authority expand boundaries empowerment zones enterprise communities including located rural areas allow carryovers unused expensing allowances enterprise zone businesses allow certain empowerment zone businesses elect receive payments lieu tax benefits allow federal guarantees tax exemptions enterprise zones renewal communities allow issuance tax exempt rural enterprise community bonds


Summary: Metro Economies Green Act or MEGA - Authorizes the Secretary of Housing and Urban Development to establish a metro area green zone grant program to make grants to local government units to support and establish green job programs that: (1) target low-income, difficult-to-employ, and formerly incarcerated persons; and (2) involve local business, academia, trade associations, nonprofits, and other stakeholders in energy-efficient economic development and green job training and creation. Authorizes the Secretary also to establish competitive programs to make grants to local government units to support and establish: (1) a similar mini-metro green program that engages smaller communities in green economic and workforce development; and (2) an alternative green academies program that provides green job training, employment opportunities, and other life skills to high school dropouts, formerly incarcerated youth, and individuals unable to attend traditional institutions of higher education. Directs the Secretary to select one unit of general local government or nonprofit organization designated by such a unit to establish and operate a Metro Area Green Institute to serve as a national resource center to support municipally based, green economic and workforce development efforts.

metro economies authorizes secretary housing_and_urban_development establish metro area green zone grant program grants local government units support establish green job programs target low income difficult employ incarcerated persons involve local business academia trade associations nonprofits stakeholders energy efficient economic development green job training creation authorizes secretary establish competitive programs grants local government units support establish similar metro green program engages smaller communities green economic workforce development alternative green academies program provides green job training employment opportunities life skills high school dropouts incarcerated youth individuals unable attend traditional institutions higher education directs secretary select unit general local government nonprofit organization designated unit establish operate serve national resource center support municipally based green economic workforce development efforts