SECTIONS 641 & 642 AND TITLES II, III, AND IV OF THE OMNIBUS CONSOLIDATED APPROPRIATIONS ACT, 1997
SECTIONS 641 & 642 AND TITLES II, III, AND IV OF THE OMNIBUS CONSOLIDATED APPROPRIATIONS ACT, 1997
106–102
Statute Compilation
United States House of Representatives
Office of the Legislative Counsel
text/xml
EN
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GPO Statute Compilations USLM converter, version 20210527.1
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Economic Growth and Regulatory Paperwork Reduction Act of 1996
Illegal Immigration Reform and Immigrant Responsibility Act of 1996
Deposit Insurance Funds Act of 1996
10831
104
1996-09-30
SECTIONS 641 & 642 AND TITLES II, III, AND IV OF THE OMNIBUS CONSOLIDATED APPROPRIATIONS ACT, 1997
[Public Law 104–208, Enacted September 30, 1996]
[As Amended Through P.L. 106–102, Enacted November 12, 1999]
[Currency: This publication is a compilation of the text of Public Law 104-208. It was last amended by the public law listed in the As Amended Through note above and below at the bottom of each page of the pdf version and reflects current law through the date of the enactment of the public law listed at https://www.govinfo.gov/app/collection/comps]
[Note: While this publication does not represent an official version of any Federal statute, substantial efforts have been made to ensure the accuracy of its contents. The official version of Federal law is found in the United States Statutes at Large and in the United States Code. The legal effect to be given to the Statutes at Large and the United States Code is established by statute (1 U.S.C. 112, 204).]
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<num style="-uslm-dtd:enum" value="VI">TITLE VI—</num><heading style="-uslm-dtd:header">MISCELLANEOUS
PROVISIONS </heading>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/104/208/tVI/stD">
<num style="-uslm-dtd:enum" value="D">Subtitle D—</num><heading style="-uslm-dtd:header">Other Provisions </heading>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tVI/stD/s641" styleType="OLC">
<num style="-uslm-dtd:enum" value="641">SEC. 641. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t8/s1372">8 U.S.C. 1372</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">PROGRAM TO COLLECT INFORMATION RELATING TO NONIMMIGRANT FOREIGN STUDENTS AND OTHER EXCHANGE PROGRAM PARTICIPANTS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tVI/stD/s641/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Program.—</heading><chapeau style="-uslm-dtd:text">The Attorney General, in consultation with the Secretary of State and the Secretary of Education, shall develop and conduct a program to collect from approved institutions of higher education, other approved educational institutions, and designated exchange visitor programs in the United States the information described in subsection (c) with respect to aliens who—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/a/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">have the status, or are applying for the status, of nonimmigrants under subparagraph (F), (J), or (M) of section 101(a)(15) of the Immigration and Nationality Act; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/a/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">are nationals of the countries designated under subsection (b).</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Deadline.—</heading><content style="-uslm-dtd:text">The program shall commence not later than January 1, 1998.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/a/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Aliens for whom a visa is required.—</heading><chapeau style="-uslm-dtd:text">The Attorney General, in consultation with the Secretary of State, shall establish an electronic means to monitor and verify—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/a/3/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the issuance of documentation of acceptance of a foreign student by an approved institution of higher education or other approved educational institution, or of an exchange visitor program participant by a designated exchange visitor program;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/a/3/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the transmittal of the documentation referred to in subparagraph (A) to the Department of State for use by the Bureau of Consular Affairs;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/a/3/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">the issuance of a visa to a foreign student or an exchange visitor program participant;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/a/3/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">the admission into the United States of the foreign student or exchange visitor program participant;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/a/3/E" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">the notification to an approved institution of higher education, other approved educational institution, or exchange visitor program sponsor that the foreign student or exchange visitor participant has been admitted into the United States;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/a/3/F" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">the registration and enrollment of that foreign student in such approved institution of higher education or other approved educational institution, or the participation of that exchange visitor in such designated exchange visitor program, as the case may be; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/a/3/G" styleType="OLC">
<num style="-uslm-dtd:enum" value="G">(G) </num><content style="-uslm-dtd:text">any other relevant act by the foreign student or exchange visitor program participant, including a changing of school or designated exchange visitor program and any termination of studies or participation in a designated exchange visitor program.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/a/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Reporting requirements.—</heading><content style="-uslm-dtd:text">Not later than 30 days after the deadline for registering for classes for an academic term of an approved institution of higher education or other approved educational institution for which documentation is issued for an alien as described in paragraph (3)(A), or the scheduled commencement of participation by an alien in a designated exchange visitor program, as the case may be, the institution or program, respectively, shall report to the Immigration and Naturalization Service any failure of the alien to enroll or to commence participation.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tVI/stD/s641/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Covered Countries.—</heading><content style="-uslm-dtd:text">The Attorney General, in consultation with the Secretary of State, shall designate countries for purposes of subsection (a)(1)(B). The Attorney General shall initially designate not less than 5 countries and may designate additional countries at any time while the program is being conducted.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tVI/stD/s641/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Information To Be Collected.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The information for collection under subsection (a) with respect to an alien consists of—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the identity and current address in the United States of the alien;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the nonimmigrant classification of the alien and the date on which a visa under the classification was issued or extended or the date on which a change to such classification was approved by the Attorney General;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/1/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">in the case of a student at an approved institution of higher education, or other approved educational institution,,<ref style="-uslm-dtd:footnote-ref" idref="ID4BBA286DC623455AB0EFF00E255FDEDD" class="footnoteRef">1</ref> the current academic status of the alien, including whether the alien is maintaining status as a full-time student or, in the case of a participant in a designated exchange visitor program, whether the alien is satisfying the terms and conditions of such program;</content><footnote id="ID4BBA286DC623455AB0EFF00E255FDEDD" style="-uslm-dtd:footnote"><sup style="-uslm-dtd:superscript">1</sup><p style="-uslm-dtd:para; margin-left:1em">Section 416(c)(2) of P.L. 107–56 (115 Stat. 354) amended this subparagraph by inserting “<quotedText style="-uslm-dtd:quote">, or other approved educational institution,</quotedText>” after “<quotedText style="-uslm-dtd:quote">higher education</quotedText>”. This results in double commas.</p></footnote>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/1/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">in the case of a student at an approved institution of higher education, or other approved educational institution,,<ref style="-uslm-dtd:footnote-ref" idref="IDED1CF2245D8A402AAA1D952D57E48FFF" class="footnoteRef">2</ref> any disciplinary action taken by the institution against the alien as a result of the alien's being convicted of a crime or, in the case of a participant in a designated exchange visitor program, any change in the alien's participation as a result of the alien's being convicted of a crime; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/1/E" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">the date of entry and port of entry;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/1/F" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">the date of the alien's enrollment in an approved institution of higher education, other approved educational institution, or designated exchange visitor program in the United States;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/1/G" styleType="OLC">
<num style="-uslm-dtd:enum" value="G">(G) </num><content style="-uslm-dtd:text">the degree program, if applicable, and field of study; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/1/H" styleType="OLC">
<num style="-uslm-dtd:enum" value="H">(H) </num><content style="-uslm-dtd:text">the date of the alien's termination of enrollment and the reason for such termination (including graduation, disciplinary action or other dismissal, and failure to re-enroll).</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">FERPA.—</heading><content style="-uslm-dtd:text">The Family Educational Rights and Privacy Act of 1974 shall not apply to aliens described in subsection (a) to the extent that the Attorney General determines necessary to carry out the program under subsection (a).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Electronic collection.—</heading><content style="-uslm-dtd:text">The information described in paragraph (1) shall be collected electronically, where practicable.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Computer software.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/4/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Collecting institutions.—</heading><content style="-uslm-dtd:text">To the extent practicable, the Attorney General shall design the program in a manner that permits approved institutions of higher education, other approved educational institutions, and designated exchange visitor programs to use existing software for the collection, storage, and data processing of information described in paragraph (1).</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/4/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Attorney general.—</heading><content style="-uslm-dtd:text">To the extent practicable, the Attorney General shall use or enhance existing software for the collection, storage, and data processing of information described in paragraph (1).</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/c/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Reporting requirements.—</heading><content style="-uslm-dtd:text">The Attorney General shall prescribe by regulation reporting requirements by taking into account the curriculum calendar of the approved institution of higher education, other approved educational institution, or exchange visitor program.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tVI/stD/s641/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Participation by Institutions of Higher Education and Exchange Visitor Programs.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/d/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Condition.—</heading><chapeau style="-uslm-dtd:text">The information described in subsection (c) shall be provided by institutions of higher education, other approved educational institutions, or exchange visitor programs as a condition of—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/d/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in the case of an approved institution of higher education, or other approved educational institution,,<ref style="-uslm-dtd:dangling-footnote-ref" class="footnoteRef">2</ref> the continued approval of the institution under subparagraph (F) or (M) of section 101(a)(15) of the Immigration and Nationality Act; and</content><footnote id="IDED1CF2245D8A402AAA1D952D57E48FFF" style="-uslm-dtd:footnote"><sup style="-uslm-dtd:superscript">2</sup><p style="-uslm-dtd:para; margin-left:1em">Section 416(c)(2) of P.L. 107–56 (115 Stat. 354) amended this subparagraph by inserting “<quotedText style="-uslm-dtd:quote">, or other approved educational institution,</quotedText>” after “<quotedText style="-uslm-dtd:quote">higher education</quotedText>”. This results in double commas.</p></footnote>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/d/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">in the case of an approved institution of higher education or a designated exchange visitor program, the granting of authority to issue documents to an alien demonstrating the alien's eligibility for a visa under subparagraph (F), (J), or (M) of section 101(a)(15) of such Act.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/d/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Effect of failure to provide information.—</heading><content style="-uslm-dtd:text">If an approved institution of higher education, other approved educational institution, or a designated exchange visitor program fails to provide the specified information, such approvals and such issuance of visas shall be revoked or denied.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tVI/stD/s641/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Funding.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/e/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Beginning on April 1, 1997, the Attorney General shall impose on, and collect from, each alien described in paragraph (3), with respect to whom the institution or program is required by subsection (a) to collect information, a fee established by the Attorney General under paragraph (4) at a time prior to the alien being classified under subparagraph (F), (J), or (M) of section 101(a)(15) of the Immigration and Nationality Act.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/e/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Remittance.—</heading><content style="-uslm-dtd:text">The fees collected under paragraph (1) shall be remitted by the alien pursuant to a schedule established by the Attorney General for immediate deposit and availability as described under section 286(m) of the Immigration and Nationality Act.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/e/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Aliens described.—</heading><content style="-uslm-dtd:text">An alien referred to in paragraph (1) is an alien who seeks nonimmigrant status under subparagraph (F), (J), or (M) of section 101(a)(15) of the Immigration and Nationality Act (other than a nonimmigrant under section 101(a)(15)(J) of such Act who seeks to come to the United States as a participant in a program sponsored by the Federal Government).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/e/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Amount and use of fees.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/e/4/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Establishment of amount.—</heading><content style="-uslm-dtd:text">The Attorney General shall establish the amount of the fee to be imposed on, and collected from, an alien under paragraph (1). Except as provided in subsection (g)(2), the fee imposed on any individual may not exceed $100, except that, in the case of an alien admitted under section 101(a)(15)(J) of the Immigration and Nationality Act as an au pair, camp counselor, or participant in a summer work travel program, the fee shall not exceed $40, except that, in the case of an alien admitted under section 101(a)(15)(J) of the Immigration and Nationality Act as an au pair, camp counselor, or participant in a summer work travel program, the fee shall not exceed $35<ref style="-uslm-dtd:footnote-ref" idref="IDC4F3E8044189458F8C8F3C1F7FFB0BEB" class="footnoteRef">3</ref>. The amount of the fee shall be based on the Attorney General's estimate of the cost per alien of conducting the information collection program described in this section.</content><footnote id="IDC4F3E8044189458F8C8F3C1F7FFB0BEB" style="-uslm-dtd:footnote"><sup style="-uslm-dtd:superscript">3</sup><p style="-uslm-dtd:para; margin-left:1em">So in law. See amendment made by section 110 of Appendix B (H.R. 5548 as introduced in the 106th Congress, 114 Stat. 2762A–68) of P.L. 106–553.</p></footnote>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/e/4/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Use.—</heading><content style="-uslm-dtd:text">Fees collected under paragraph (1) shall be deposited as offsetting receipts into the Immigration Examinations Fee Account (established under section 286(m) of the Immigration and Nationality Act) and shall remain available until expended for the Attorney General to reimburse any appropriation the amount paid out of which is for expenses in carrying out this section. Such expenses include, but are not necessarily limited to, those incurred by the Secretary of State in connection with the program under subsection (a).</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/e/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Proof of payment.—</heading><chapeau style="-uslm-dtd:text">The alien shall present proof of payment of the fee before the granting of—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/e/5/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">a visa under section 222 of the Immigration and Nationality Act or, in the case of an alien who is exempt from the visa requirement described in section 212(d)(4) of the Immigration and Nationality Act, admission to the United States; or</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/e/5/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">change of nonimmigrant classification under section 248 of the Immigration and Nationality Act to a classification described in paragraph (3).</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/e/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Implementation.—</heading><content style="-uslm-dtd:text">The provisions of section 553 of title 5, United States Code (relating to rule-making) shall not apply to the extent the Attorney General determines necessary to ensure the expeditious, initial implementation of this section.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tVI/stD/s641/f" styleType="OLC">
<num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Joint Report.—</heading><content style="-uslm-dtd:text">Not later than 4 years after the commencement of the program established under subsection (a), the Attorney General, the Secretary of State, and the Secretary of Education shall jointly submit to the Committees on the Judiciary of the Senate and the House of Representatives a report on the operations of the program and the feasibility of expanding the program to cover the nationals of all countries.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tVI/stD/s641/g" styleType="OLC">
<num style="-uslm-dtd:enum" value="g">(g) </num><heading style="-uslm-dtd:header">Worldwide Applicability of the Program.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/g/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Expansion of program.—</heading><content style="-uslm-dtd:text">Not later than 12 months after the submission of the report required by subsection (f), the Attorney General, in consultation with the Secretary of State and the Secretary of Education, shall commence expansion of the program to cover the nationals of all countries.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/g/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Revision of fee.—</heading><content style="-uslm-dtd:text">After the program has been expanded, as provided in paragraph (1), the Attorney General may, on a periodic basis, revise the amount of the fee imposed and collected under subsection (e) in order to take into account changes in the cost of carrying out the program.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tVI/stD/s641/h" styleType="OLC">
<num style="-uslm-dtd:enum" value="h">(h) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">As used in this section:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/h/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Approved institution of higher education.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">approved institution of higher education</term>” means a college or university approved by the Attorney General, in consultation with the Secretary of Education, under subparagraph (F), (J), or (M) of section 101(a)(15) of the Immigration and Nationality Act.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/h/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Designated exchange visitor program.—</heading><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">designated exchange visitor program</term>” means a program that has been—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/h/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">designated by the Secretary of State for purposes of section 101(a)(15)(J) of the Immigration and Nationality Act; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tVI/stD/s641/h/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">selected by the Attorney General for purposes of the program under this section.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s641/h/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Other approved educational institution.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">other approved educational institution</term>” includes any air flight school, language training school, or vocational school, approved by the Attorney General, in consultation with the Secretary of Education and the Secretary of State, under subparagraph (F), (J), or (M) of section 101(a)(15) of the Immigration and Nationality Act.</content>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tVI/stD/s642" styleType="OLC">
<num style="-uslm-dtd:enum" value="642">SEC. 642. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t8/s1373">8 U.S.C. 1373</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">COMMUNICATION BETWEEN GOVERNMENT AGENCIES AND THE IMMIGRATION AND NATURALIZATION SERVICE. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tVI/stD/s642/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Notwithstanding any other provision of Federal, State, or local law, a Federal, State, or local government entity or official may not prohibit, or in any way restrict, any government entity or official from sending to, or receiving from, the Immigration and Naturalization Service information regarding the citizenship or immigration status, lawful or unlawful, of any individual.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tVI/stD/s642/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Additional Authority of Government Entities.—</heading><chapeau style="-uslm-dtd:text">Notwithstanding any other provision of Federal, State, or local law, no person or agency may prohibit, or in any way restrict, a Federal, State, or local government entity from doing any of the following with respect to information regarding the immigration status, lawful or unlawful, of any individual:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s642/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">Sending such information to, or requesting or receiving such information from, the Immigration and Naturalization Service.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s642/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">Maintaining such information.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tVI/stD/s642/b/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">Exchanging such information with any other Federal, State, or local government entity.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tVI/stD/s642/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Obligation to Respond to Inquiries.—</heading><content style="-uslm-dtd:text">The Immigration and Naturalization Service shall respond to an inquiry by a Federal, State, or local government agency, seeking to verify or ascertain the citizenship or immigration status of any individual within the jurisdiction of the agency for any purpose authorized by law, by providing the requested verification or status information.</content>
</subsection>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
</section>
</subtitle>
<num style="-uslm-dtd:enum" value="II">TITLE II—</num><heading style="-uslm-dtd:header">ECONOMIC GROWTH AND REGULATORY PAPERWORK REDUCTION </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/s2001" styleType="OLC">
<num style="-uslm-dtd:enum" value="2001">SEC. 2001. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s226">12 U.S.C. 226</ref> nt<b>]</b> </editorialNote><heading style="-uslm-dtd:header">SHORT TITLE; TABLE OF CONTENTS; DEFINITIONS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/s2001/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Short Title.—</heading><content style="-uslm-dtd:text">This title may be cited as the “<shortTitle style="-uslm-dtd:quote"><inline style="-uslm-dtd:short-title">Economic Growth and Regulatory Paperwork Reduction Act of 1996</inline></shortTitle>”.</content><footnote id="IDEE4D8E6229584E7CAF2A190A94BE6ACD" style="-uslm-dtd:footnote"><sup style="-uslm-dtd:superscript">4</sup><p style="-uslm-dtd:para; margin-left:1em">This Act consists of title II of the Omnibus Consolidated Appropriations for Fiscal Year 1997 (P.L. 104–208; 110 Stat. 3009–394), which largely amended other Acts.</p></footnote>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/s2001/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s252">12 U.S.C. 252</ref> nt<b>]</b> </editorialNote><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">Except as otherwise specified in this title, the following definitions shall apply for purposes of this title:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/s2001/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Appraisal subcommittee.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">Appraisal Subcommittee</term>” means the Appraisal Subcommittee established under section 1011 of the Federal Financial Institutions Examination Council Act of 1978 (as in existence on the day before the date of enactment of this Act).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/s2001/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Appropriate Federal banking agency.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">appropriate Federal banking agency</term>” has the same meaning as in section 3 of the Federal Deposit Insurance Act.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/s2001/c/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Board.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">Board</term>” means the Board of Governors of the Federal Reserve System.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/s2001/c/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Corporation.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">Corporation</term>” means the Federal Deposit Insurance Corporation.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/s2001/c/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Council.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">Council</term>” means the Financial Institutions Examination Council established under section 1004 of the Federal Financial Institutions Examination Council Act of 1978.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/s2001/c/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Insured credit union.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">insured credit union</term>” has the same meaning as in section 101 of the Federal Credit Union Act.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/s2001/c/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><heading style="-uslm-dtd:header">Insured depository institution.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">insured depository institution</term>” has the same meaning as in section 3 of the Federal Deposit Insurance Act.</content>
</paragraph>
</subsection>
</section>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/104/208/tII/stA" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">Subtitle A—</num><heading style="-uslm-dtd:header">Streamlining the Home Mortgage Lending Process </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/stA/s2101" styleType="OLC">
<num style="-uslm-dtd:enum" value="2101">SEC. 2101. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s2601">12 U.S.C. 2601</ref> nt<b>]</b> </editorialNote><heading style="-uslm-dtd:header">SIMPLIFICATION AND UNIFICATION OF DISCLOSURES REQUIRED UNDER RESPA AND TILA FOR MORTGAGE TRANSACTIONS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stA/s2101/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">With respect to credit transactions which are subject to the Real Estate Settlement Procedures Act of 1974 and the Truth in Lending Act, the Board of Governors of the Federal Reserve System (hereafter in this section referred to as the “<quotedText style="-uslm-dtd:quote">Board</quotedText>”) and the Secretary of Housing and Urban Development (hereafter in this section referred to as the “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>”) shall take such action as may be necessary before the end of the 6-month period beginning on the date of enactment of this Act—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stA/s2101/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">to simplify and improve the disclosures applicable to such transactions under such Acts, including the timing of the disclosures; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stA/s2101/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">to provide a single format for such disclosures which will satisfy the requirements of each such Act with respect to such transactions.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stA/s2101/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Regulations.—</heading><content style="-uslm-dtd:text">To the extent that it is necessary to prescribe any regulation in order to effect any changes required to be made under subsection (a), the proposed regulation shall be published in the Federal Register before the end of the 6-month period referred to in subsection (a).</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stA/s2101/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Recommendations for Legislation.—</heading><content style="-uslm-dtd:text">If the Board and the Secretary find that legislative action may be necessary or appropriate in order to simplify and unify the disclosure requirements under the Real Estate Settlement Procedures Act of 1974 and the Truth in Lending Act, the Board and the Secretary shall submit a report containing recommendations to the Congress concerning such action.</content>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
</subsection>
</section>
</subtitle>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/104/208/tII/stB" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">Subtitle B—</num><heading style="-uslm-dtd:header">Streamlining Government Regulation </heading>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
<chapter style="-uslm-dtd:chapter" identifier="/us/sComp/104/208/tII/stB/ch2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">CHAPTER 2—</num><heading style="-uslm-dtd:header">ELIMINATING UNNECESSARY REGULATORY BURDENS </heading>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/stB/ch2/s2222" styleType="OLC">
<num style="-uslm-dtd:enum" value="2222">SEC. 2222. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s3311">12 U.S.C. 3311</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">REQUIRED REVIEW OF REGULATIONS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stB/ch2/s2222/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Not less frequently than once every 10 years, the Council and each appropriate Federal banking agency represented on the Council shall conduct a review of all regulations prescribed by the Council or by any such appropriate Federal banking agency, respectively, in order to identify outdated or otherwise unnecessary regulatory requirements imposed on insured depository institutions.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stB/ch2/s2222/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Process.—</heading><chapeau style="-uslm-dtd:text">In conducting the review under subsection (a), the Council or the appropriate Federal banking agency shall—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2222/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">categorize the regulations described in subsection (a) by type (such as consumer regulations, safety and soundness regulations, or such other designations as determined by the Council, or the appropriate Federal banking agency); and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2222/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">at regular intervals, provide notice and solicit public comment on a particular category or categories of regulations, requesting commentators to identify areas of the regulations that are outdated, unnecessary, or unduly burdensome.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stB/ch2/s2222/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Complete Review.—</heading><content style="-uslm-dtd:text">The Council or the appropriate Federal banking agency shall ensure that the notice and comment period described in subsection (b)(2) is conducted with respect to all regulations described in subsection (a) not less frequently than once every 10 years.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stB/ch2/s2222/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Regulatory Response.—</heading><chapeau style="-uslm-dtd:text">The Council or the appropriate Federal banking agency shall—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2222/d/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">publish in the Federal Register a summary of the comments received under this section, identifying significant issues raised and providing comment on such issues; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2222/d/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">eliminate unnecessary regulations to the extent that such action is appropriate.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stB/ch2/s2222/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Report to Congress.—</heading><chapeau style="-uslm-dtd:text">Not later than 30 days after carrying out subsection (d)(1), the Council shall submit to the Congress a report, which shall include—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2222/e/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">a summary of any significant issues raised by public comments received by the Council and the appropriate Federal banking agencies under this section and the relative merits of such issues; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2222/e/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">an analysis of whether the appropriate Federal banking agency involved is able to address the regulatory burdens associated with such issues by regulation, or whether such burdens must be addressed by legislative action.</content>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/stB/ch2/s2227" styleType="OLC">
<num style="-uslm-dtd:enum" value="2227">SEC. 2227. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s252">12 U.S.C. 252</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">CREDIT AVAILABILITY ASSESSMENT. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stB/ch2/s2227/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Study.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2227/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Not later than 12 months after the date of enactment of this Act, and once every 60 months thereafter, the Board, in consultation with the Director of the Office of Thrift Supervision, the Comptroller of the Currency, the Board of Directors of the Corporation, the Administrator of the National Credit Union Administration, the Administrator of the Small Business Administration, and the Secretary of Commerce, shall conduct a study and submit a report to the Congress detailing the extent of small business lending by all creditors.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2227/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Contents of study.—</heading><chapeau style="-uslm-dtd:text">The study required under paragraph (1) shall identify, to the extent practicable, those factors which provide policymakers with insights into the small business credit market, including—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2227/a/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the demand for small business credit, including consideration of the impact of economic cycles on the levels of such demand;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2227/a/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the availability of credit to small businesses;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2227/a/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">the range of credit options available to small businesses, such as those available from insured depository institutions and other providers of credit;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2227/a/2/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">the types of credit products used to finance small business operations, including the use of traditional loans, leases, lines of credit, home equity loans, credit cards, and other sources of financing;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2227/a/2/E" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">the credit needs of small businesses, including, if appropriate, the extent to which such needs differ, based upon product type, size of business, cash flow requirements, characteristics of ownership or investors, or other aspects of such business;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2227/a/2/F" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">the types of risks to creditors in providing credit to small businesses; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stB/ch2/s2227/a/2/G" styleType="OLC">
<num style="-uslm-dtd:enum" value="G">(G) </num><content style="-uslm-dtd:text">such other factors as the Board deems appropriate.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stB/ch2/s2227/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Use of Existing Data.—</heading><content style="-uslm-dtd:text">The studies required by this section shall not increase the regulatory or paperwork burden on regulated financial institutions, other sources of small business credit, or small businesses.</content>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
</subsection>
</section>
</chapter>
</subtitle>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/104/208/tII/stD" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">Subtitle D—</num><heading style="-uslm-dtd:header">Consumer Credit </heading>
<chapter style="-uslm-dtd:chapter" identifier="/us/sComp/104/208/tII/stD/ch1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">CHAPTER 1—</num><heading style="-uslm-dtd:header">CREDIT REPORTING REFORM </heading>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/stD/ch1/s2422" styleType="OLC">
<num style="-uslm-dtd:enum" value="2422">SEC. 2422. </num><heading style="-uslm-dtd:header">FEDERAL RESERVE BOARD STUDY. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stD/ch1/s2422/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Study Required.—</heading><content style="-uslm-dtd:text">The Board of Governors of the Federal Reserve System, in consultation with the other Federal banking agencies (as defined in section 3 of the Federal Deposit Insurance Act) and the Federal Trade Commission, shall conduct a study of whether organizations which, as of the date of the enactment of this Act, are not subject to the Fair Credit Reporting Act as consumer reporting agencies (as defined in section 603 of such Act) are engaged in the business of making sensitive consumer identification information, including social security numbers, mothers' maiden names, prior addresses, and dates of birth, available to the general public.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stD/ch1/s2422/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Determination of Potential for Fraud.—</heading><chapeau style="-uslm-dtd:text">If the Board of Governors of the Federal Reserve System determines that organizations referred to in subsection (a) are engaged in the business of making sensitive consumer identification information available to the general public, the Board shall determine—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stD/ch1/s2422/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">whether such activities create undue potential for fraud and risk of loss to insured depository institutions (as defined in section 3 of the Federal Deposit Insurance Act); and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stD/ch1/s2422/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">if so, whether changes in Federal law are necessary to address such risks of fraud and loss.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stD/ch1/s2422/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Report to Congress.—</heading><chapeau style="-uslm-dtd:text">Before the end of the 6-month period beginning on the date of the enactment of this Act, the Board of Governors of the Federal Reserve System shall submit a report to the Congress containing—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stD/ch1/s2422/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the findings and conclusion of the Board in connection with the study required under subsections (a) and (b); and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stD/ch1/s2422/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">recommendations for such legislative or administrative action as the Board determines to be appropriate.</content>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
</paragraph>
</subsection>
</section>
</chapter>
</subtitle>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/104/208/tII/stF" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">Subtitle F—</num><heading style="-uslm-dtd:header">Miscellaneous </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/stF/s2601" styleType="OLC">
<num style="-uslm-dtd:enum" value="2601">SEC. 2601. </num><heading style="-uslm-dtd:header">FEDERAL RESERVE BOARD STUDY. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stF/s2601/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Study of Electronic Stored Value Products.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stF/s2601/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Study.—</heading><content style="-uslm-dtd:text">The Board shall conduct a study of electronic stored value products which evaluates whether provisions of the Electronic Fund Transfer Act could be applied to such products without adversely impacting the cost, development, and operation of such products.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stF/s2601/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Considerations.—</heading><content style="-uslm-dtd:text">In conducting its study under paragraph (1), the Board shall consider whether alternatives to regulation under the Electronic Fund Transfer Act, such as allowing competitive market forces to shape the development and operation of electronic stored value products, could more efficiently achieve the objectives embodied in that Act.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stF/s2601/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">The Board shall submit a report of its study under subsection (a) to the Congress not later than 6 months after the date of enactment of this Act.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stF/s2601/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Action To Finalize.—</heading><chapeau style="-uslm-dtd:text">The Board shall take no action to finalize any amendments to regulations under the Electronic Fund Transfer Act that would regulate electronic stored value products until the later of—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stF/s2601/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">3 months after the date on which the report is submitted to the Congress under subsection (b); or</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stF/s2601/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">9 months after the date of enactment of this Act.</content>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/stF/s2606" styleType="OLC">
<num style="-uslm-dtd:enum" value="2606">SEC. 2606. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s1752a">12 U.S.C. 1752a</ref> nt<b>]</b> </editorialNote><heading style="-uslm-dtd:header">STUDY OF CORPORATE CREDIT UNIONS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stF/s2606/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">For purposes of this section, the following definitions shall apply:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stF/s2606/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Administration.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">Administration</term>” means the National Credit Union Administration.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stF/s2606/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Board.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">Board</term>” means the National Credit Union Administration Board.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stF/s2606/a/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Corporate credit union.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">corporate credit union</term>” has the meaning given such term by rule or regulation of the Board.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stF/s2606/a/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Fund.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">Fund</term>” means the National Credit Union Share Insurance Fund established under section 203 of the Federal Credit Union Act.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stF/s2606/a/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">Secretary</term>” means the Secretary of the Treasury.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stF/s2606/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Study.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stF/s2606/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Secretary, in consultation with the Board, the Corporation, the Comptroller of the Currency, and the Administration, shall conduct a study and evaluation of—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stF/s2606/b/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">the oversight and supervisory practices of the Administration concerning the Fund, including the treatment of amounts deposited in the Fund pursuant to section 202(c) of the Federal Credit Union Act, including analysis of—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stF/s2606/b/1/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><chapeau style="-uslm-dtd:text">whether those amounts should be—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/104/208/tII/stF/s2606/b/1/A/i/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">refundable; or</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/104/208/tII/stF/s2606/b/1/A/i/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">treated as expenses; and</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stF/s2606/b/1/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the use of those amounts in determining equity capital ratios;</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stF/s2606/b/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the potential for, and potential effects of, administration of the Fund by an entity other than the Administration;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stF/s2606/b/1/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><chapeau style="-uslm-dtd:text">the 10 largest corporate credit unions in the United States, conducted in cooperation with appropriate employees of other Federal agencies with expertise in the examination of federally insured financial institutions, including—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stF/s2606/b/1/C/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the investment practices of those credit unions; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stF/s2606/b/1/C/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the financial stability, financial operations, and financial controls of those credit unions;</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stF/s2606/b/1/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">the regulations of the Administration; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stF/s2606/b/1/E" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">the supervision of corporate credit unions by the Administration.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stF/s2606/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">Not later than 12 months after the date of enactment of this Act, the Secretary shall submit to the appropriate committees of the Congress, a report that includes the results of the study and evaluation conducted under subsection (b), together with any recommendations that the Secretary considers to be appropriate.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/stF/s2607" styleType="OLC">
<num style="-uslm-dtd:enum" value="2607">SEC. 2607. </num><heading style="-uslm-dtd:header">REPORT ON THE RECONCILIATION OF DIFFERENCES BETWEEN REGULATORY ACCOUNTING PRINCIPLES AND GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. </heading>
<content style="-uslm-dtd:text" class="block">Not later than 180 days after the date of enactment of this Act, each appropriate Federal banking agency shall submit to the Committee on Banking and Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, a report describing both the actions that have been taken by the agency and the actions that will be taken by the agency to eliminate or conform inconsistent or duplicative accounting and reporting requirements applicable to reports or statements filed with any such agency by insured depository institutions, as required by section 121 of the Federal Deposit Insurance Corporation Improvement Act of 1991.</content>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
</section>
</subtitle>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/104/208/tII/stG" styleType="OLC">
<num style="-uslm-dtd:enum" value="G">Subtitle G—</num><heading style="-uslm-dtd:header">Deposit Insurance Funds </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/stG/s2701" styleType="OLC">
<num style="-uslm-dtd:enum" value="2701">SEC. 2701. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s1811">12 U.S.C. 1811</ref> nt<b>]</b> </editorialNote><heading style="-uslm-dtd:header">SHORT TITLE. </heading>
<content style="-uslm-dtd:text" class="block">This subtitle may be cited as the “<shortTitle style="-uslm-dtd:quote"><inline style="-uslm-dtd:short-title">Deposit Insurance Funds Act of 1996</inline></shortTitle>”.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/stG/s2702" styleType="OLC">
<num style="-uslm-dtd:enum" value="2702">SEC. 2702. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s1817">12 U.S.C. 1817</ref> nt<b>]</b> </editorialNote><heading style="-uslm-dtd:header">SPECIAL ASSESSMENT TO CAPITALIZE SAIF. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2702/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Except as provided in subsection (f), the Board of Directors of the Federal Deposit Insurance Corporation shall impose a special assessment on the SAIF-assessable deposits of each insured depository institution in accordance with assessment regulations of the Corporation at a rate applicable to all such institutions that the Board of Directors, in its sole discretion, determines (after taking into account the adjustments described in subsections (g), (h), and (j)) will cause the Savings Association Insurance Fund to achieve the designated reserve ratio on the first business day of the 1st month beginning after the date of the enactment of this Act.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2702/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Factors To Be Considered.—</heading><chapeau style="-uslm-dtd:text">In carrying out subsection (a), the Board of Directors shall base its determination on—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the monthly Savings Association Insurance Fund balance most recently calculated;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">data on insured deposits reported in the most recent reports of condition filed not later than 70 days before the date of enactment of this Act by insured depository institutions; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/b/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">any other factors that the Board of Directors deems appropriate.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2702/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Date of Determination.—</heading><content style="-uslm-dtd:text">For purposes of subsection (a), the amount of the SAIF-assessable deposits of an insured depository institution shall be determined as of March 31, 1995.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2702/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Date Payment Due.—</heading><chapeau style="-uslm-dtd:text">Except as provided in subsection (g), the special assessment imposed under this section shall be—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/d/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">due on the first business day of the 1st month beginning after the date of the enactment of this Act; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/d/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">paid to the Corporation on the later of—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/d/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the first business day of the 1st month beginning after such date of enactment; or</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/d/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">such other date as the Corporation shall prescribe, but not later than 60 days after the date of enactment of this Act.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2702/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Assessment Deposited in SAIF.—</heading><content style="-uslm-dtd:text">Notwithstanding any other provision of law, the proceeds of the special assessment imposed under this section shall be deposited in the Savings Association Insurance Fund.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2702/f" styleType="OLC">
<num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Exemptions for Certain Institutions.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/f/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Exemption for weak institutions.—</heading><content style="-uslm-dtd:text">The Board of Directors may, by order, in its sole discretion, exempt any insured depository institution that the Board of Directors determines to be weak, from paying the special assessment imposed under this section if the Board of Directors determines that the exemption would reduce risk to the Savings Association Insurance Fund.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/f/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Guidelines required.—</heading><content style="-uslm-dtd:text">Not later than 30 days after the date of enactment of this Act, the Board of Directors shall prescribe guidelines setting forth the criteria that the Board of Directors will use in exempting institutions under paragraph (1). Such guidelines shall be published in the Federal Register.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/f/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Exemption for certain newly chartered and other defined institutions.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/f/3/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">In addition to the institutions exempted from paying the special assessment under paragraph (1), the Board of Directors shall exempt any insured depository institution from payment of the special assessment if the institution—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/f/3/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">was in existence on October 1, 1995, and held no SAIF-assessable deposits before January 1, 1993;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/f/3/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><chapeau style="-uslm-dtd:text">is a Federal savings bank which—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/104/208/tII/stG/s2702/f/3/A/ii/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">was established de novo in April 1994 in order to acquire the deposits of a savings association which was in default or in danger of default; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/104/208/tII/stG/s2702/f/3/A/ii/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">received minority interim capital assistance from the Resolution Trust Corporation under section 21A(w) of the Federal Home Loan Bank Act in connection with the acquisition of any such savings association; or</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/f/3/A/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><chapeau style="-uslm-dtd:text">is a savings association, the deposits of which are insured by the Savings Association Insurance Fund, which—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/104/208/tII/stG/s2702/f/3/A/iii/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">before January 1, 1987, was chartered as a Federal savings bank insured by the Federal Savings and Loan Insurance Corporation for the purpose of acquiring all or substantially all of the assets and assuming all or substantially all of the deposit liabilities of a national bank in a transaction consummated after July 1, 1986; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/104/208/tII/stG/s2702/f/3/A/iii/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">as of the date of that transaction, had assets of less than $150,000,000.</content>
</subclause>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/f/3/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Definition.—</heading><chapeau style="-uslm-dtd:text">For purposes of this paragraph, an institution shall be deemed to have held SAIF-assessable deposits before January 1, 1993, if—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/f/3/B/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">it directly held SAIF-assessable deposits before that date; or</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/f/3/B/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">it succeeded to, acquired, purchased, or otherwise holds any SAIF-assessable deposits as of the date of enactment of this Act that were SAIF-assessable deposits before January 1, 1993.</content>
</clause>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/f/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Exempt institutions required to pay assessments at former rates.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/f/4/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Payments to saif and dif.—</heading><chapeau style="-uslm-dtd:text">Any insured depository institution that the Board of Directors exempts under this subsection from paying the special assessment imposed under this section shall pay semiannual assessments—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/f/4/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">during calendar years 1996, 1997, and 1998, into the Savings Association Insurance Fund, based on SAIF-assessable deposits of that institution, at assessment rates calculated under the schedule in effect for Savings Association Insurance Fund members on June 30, 1995; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/f/4/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><chapeau style="-uslm-dtd:text">during calendar year 1999—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/104/208/tII/stG/s2702/f/4/A/ii/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">into the Deposit Insurance Fund, based on SAIF-assessable deposits of that institution as of December 31, 1998, at assessment rates calculated under the schedule in effect for Savings Association Insurance Fund members on June 30, 1995; or</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/104/208/tII/stG/s2702/f/4/A/ii/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">in accordance with clause (i), if the Bank Insurance Fund and the Savings Association Insurance Fund are not merged into the Deposit Insurance Fund.</content>
</subclause>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/f/4/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Optional pro rata payment of special assessment.—</heading><chapeau style="-uslm-dtd:text">This paragraph shall not apply with respect to any insured depository institution (or successor insured depository institution) that has paid, during any calendar year from 1997 through 1999, upon such terms as the Corporation may announce, an amount equal to the product of—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/f/4/B/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">16.7 percent of the special assessment that the institution would have been required to pay under subsection (a), if the Board of Directors had not exempted the institution; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/f/4/B/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the number of full semiannual periods remaining between the date of the payment and December 31, 1999.</content>
</clause>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2702/g" styleType="OLC">
<num style="-uslm-dtd:enum" value="g">(g) </num><heading style="-uslm-dtd:header">Special Election for Certain Institutions Facing Hardship as a Result of the Special Assessment.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/g/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Election authorized.—</heading><chapeau style="-uslm-dtd:text">If—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/g/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">an insured depository institution, or any depository institution holding company which, directly or indirectly, controls such institution, is subject to terms or covenants in any debt obligation or preferred stock outstanding on September 13, 1995; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/g/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the payment of the special assessment under subsection (a) would pose a significant risk of causing such depository institution or holding company to default or violate any such term or covenant,</content>
</subparagraph><continuation style="-uslm-dtd:continuation-text" role="paragraph">the depository institution may elect, with the approval of the Corporation, to pay such special assessment in accordance with paragraphs (2) and (3) in lieu of paying such assessment in the manner required under subsection (a).</continuation>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/g/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">
<inline style="-uslm-dtd:enum-in-header">1</inline>st assessment.—</heading><content style="-uslm-dtd:text">An insured depository institution which makes an election under paragraph (1) shall pay an assessment in an amount equal to 50 percent of the amount of the special assessment that would otherwise apply under subsection (a), by the date on which such special assessment is payable under subsection (d).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/g/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">
<inline style="-uslm-dtd:enum-in-header">2</inline>d assessment.—</heading><content style="-uslm-dtd:text">An insured depository institution which makes an election under paragraph (1) shall pay a 2d assessment, by the date established by the Board of Directors in accordance with paragraph (4), in an amount equal to the product of 51 percent of the rate determined by the Board of Directors under subsection (a) for determining the amount of the special assessment and the SAIF-assessable deposits of the institution on March 31, 1996, or such other date in calendar year 1996 as the Board of Directors determines to be appropriate.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/g/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Due date of 2d assessment.—</heading><content style="-uslm-dtd:text">The date established by the Board of Directors for the payment of the assessment under paragraph (3) by a depository institution shall be the earliest practicable date which the Board of Directors determines to be appropriate, which is at least 15 days after the date used by the Board of Directors under paragraph (3).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/g/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Supplemental special assessment.—</heading><chapeau style="-uslm-dtd:text">An insured depository institution which makes an election under paragraph (1) shall pay a supplemental special assessment, at the same time the payment under paragraph (3) is made, in an amount equal to the product of—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/g/5/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">50 percent of the rate determined by the Board of Directors under subsection (a) for determining the amount of the special assessment; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/g/5/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">95 percent of the amount by which the SAIF-assessable deposits used by the Board of Directors for determining the amount of the 1st assessment under paragraph (2) exceeds, if any, the SAIF-assessable deposits used by the Board for determining the amount of the 2d assessment under paragraph (3).</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2702/h" styleType="OLC">
<num style="-uslm-dtd:enum" value="h">(h) </num><heading style="-uslm-dtd:header">Adjustment of Special Assessment for Certain Bank Insurance Fund Member Banks.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/h/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">For purposes of computing the special assessment imposed under this section with respect to a Bank Insurance Fund member bank, the amount of any deposits of any insured depository institution which section 5(d)(3) of the Federal Deposit Insurance Act treats as insured by the Savings Association Insurance Fund shall be reduced by 20 percent—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/h/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">if the adjusted attributable deposit amount of the Bank Insurance Fund member bank is less than 50 percent of the total domestic deposits of that member bank as of June 30, 1995; or</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/h/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">if, as of June 30, 1995, the Bank Insurance Fund member—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/h/1/B/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">had an adjusted attributable deposit amount equal to less than 75 percent of the total assessable deposits of that member bank;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/h/1/B/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">had total assessable deposits greater than $5,000,000,000; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/h/1/B/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">was owned or controlled by a bank holding company that owned or controlled insured depository institutions having an aggregate amount of deposits insured or treated as insured by the Bank Insurance Fund greater than the aggregate amount of deposits insured or treated as insured by the Savings Association Insurance Fund.</content>
</clause>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/h/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Adjusted attributable deposit amount.—</heading><content style="-uslm-dtd:text">For purposes of this subsection, the “<quotedText style="-uslm-dtd:quote">adjusted attributable deposit amount</quotedText>” shall be determined in accordance with section 5(d)(3)(C) of the Federal Deposit Insurance Act.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2702/j" styleType="OLC">
<num style="-uslm-dtd:enum" value="j">(j)<ref style="-uslm-dtd:footnote-ref" idref="ID8A22945294274A4782649B1A5352BAC1" class="footnoteRef">5</ref> </num><heading style="-uslm-dtd:header">Adjustment of Special Assessment for Certain Savings Associations.—</heading><footnote id="ID8A22945294274A4782649B1A5352BAC1" style="-uslm-dtd:footnote"><sup style="-uslm-dtd:superscript">5</sup><p style="-uslm-dtd:para; margin-left:1em">Subsection (i) made amendments to the Federal Deposit Insurance Act.</p></footnote>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/j/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Special assessment reduction.—</heading><content style="-uslm-dtd:text">For purposes of computing the special assessment imposed under this section, in the case of any converted association, the amount of any deposits of such association which were insured by the Savings Association Insurance Fund as of March 31, 1995, shall be reduced by 20 percent.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2702/j/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Converted association.—</heading><chapeau style="-uslm-dtd:text">For purposes of this subsection, the term “<term style="-uslm-dtd:term">converted association</term>” means—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/j/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">any Federal savings association—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/j/2/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">that is a member of the Savings Association Insurance Fund and that has deposits subject to assessment by that fund which did not exceed $4,000,000,000, as of March 31, 1995; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/j/2/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">that had been, or is a successor by merger, acquisition, or otherwise to an institution that had been, a State savings bank, the deposits of which were insured by the Federal Deposit Insurance Corporation before August 9, 1989, that converted to a Federal savings association pursuant to section 5(i) of the Home Owners' Loan Act before January 1, 1985;</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/j/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">a State depository institution that is a member of the Savings Association Insurance Fund that had been a State savings bank before October 15, 1982, and was a Federal savings association on August 9, 1989;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/j/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><chapeau style="-uslm-dtd:text">an insured bank that—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/j/2/C/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">was established de novo in order to acquire the deposits of a savings association in default or in danger of default;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/j/2/C/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">did not open for business before acquiring the deposits of such savings association; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/j/2/C/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">was a Savings Association Insurance Fund member before the date of enactment of this Act; and</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2702/j/2/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><chapeau style="-uslm-dtd:text">an insured bank that—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/j/2/D/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">resulted from a savings association before December 19, 1991, in accordance with section 5(d)(2)(G) of the Federal Deposit Insurance Act; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/104/208/tII/stG/s2702/j/2/D/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">had an increase in its capital in conjunction with the conversion in an amount equal to more than 75 percent of the capital of the institution on the day before the date of the conversion.</content>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
</clause>
</subparagraph>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/stG/s2703" styleType="OLC">
<num style="-uslm-dtd:enum" value="2703">SEC. 2703. </num><heading style="-uslm-dtd:header">FINANCING CORPORATION FUNDING. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2703/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><content style="-uslm-dtd:text">
<elided style="-uslm-dtd:omitted-text">* * *</elided>
</content>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2703/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s1441">12 U.S.C. 1441</ref> nt<b>]</b> </editorialNote><heading style="-uslm-dtd:header">Prohibition on Deposit Shifting.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2703/d/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Effective as of the date of the enactment of this Act and ending on the date provided in subsection (c)(2)<ref style="-uslm-dtd:footnote-ref" idref="IDB9457F51A89A4AE6BA5F9BF09D3555F6" class="footnoteRef">6</ref> of this section, the Comptroller of the Currency, the Board of Directors of the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Director of the Office of Thrift Supervision shall take appropriate actions, including enforcement actions, denial of applications, or imposition of entrance and exit fees as if such transactions qualified as conversion transactions pursuant to section 5(d) of the Federal Deposit Insurance Act, to prevent insured depository institutions and depository institution holding companies from facilitating or encouraging the shifting of deposits from SAIF-assessable deposits to BIF-assessable deposits (as defined in section 21(k) of the Federal Home Loan Bank Act) for the purpose of evading the assessments imposed on insured depository institutions with respect to SAIF-assessable deposits under section 7(b) of the Federal Deposit Insurance Act and section 21(f)(2) of the Federal Home Loan Bank Act.</content><footnote id="IDB9457F51A89A4AE6BA5F9BF09D3555F6" style="-uslm-dtd:footnote"><sup style="-uslm-dtd:superscript">6</sup><p style="-uslm-dtd:para; margin-left:1em">Paragraph (2) of subsection (c) provides “<quotedText style="-uslm-dtd:quote">[s]ubparagraph (A) of section 21(f)(2) of the Federal Home Loan Bank Act (as amended by subsection (a)) shall not apply after the earlier of December 31, 1999 or, the date as of which the last savings association ceases to exist</quotedText>”.</p></footnote>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2703/d/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Regulations.—</heading><content style="-uslm-dtd:text">The Board of Directors of the Federal Deposit Insurance Corporation may issue regulations, including regulations defining terms used in paragraph (1), to prevent the shifting of deposits described in such paragraph.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2703/d/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Rule of construction.—</heading><chapeau style="-uslm-dtd:text">No provision of this subsection shall be construed as prohibiting conduct or activity of any insured depository institution which—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2703/d/3/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">is undertaken in the ordinary course of business of such depository institution; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2703/d/3/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">is not directed towards the depositors of an insured depository institution affiliate (as defined in section 2(k) of the Bank Holding Company Act of 1956) of such depository institution.</content>
</subparagraph>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/stG/s2704" styleType="OLC">
<num style="-uslm-dtd:enum" value="2704">SEC. 2704. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s1821">12 U.S.C. 1821</ref> nt<b>]</b> </editorialNote><heading style="-uslm-dtd:header">MERGER OF BIF AND SAIF. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2704/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2704/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Merger.—</heading><content style="-uslm-dtd:text">The Bank Insurance Fund and the Savings Association Insurance Fund shall be merged into the Deposit Insurance Fund established by section 11(a)(4) of the Federal Deposit Insurance Act, as amended by this section.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2704/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Disposition of assets and liabilities.—</heading><content style="-uslm-dtd:text">All assets and liabilities of the Bank Insurance Fund and the Savings Association Insurance Fund shall be transferred to the Deposit Insurance Fund.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2704/a/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">No separate existence.—</heading><content style="-uslm-dtd:text">The separate existence of the Bank Insurance Fund and the Savings Association Insurance Fund shall cease.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2704/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><editorialNote style="-uslm-dtd:legis-comment"><b>[</b>Repealed by Pub. L. 106–102, 113 Stat. 1479.<b>]</b> </editorialNote>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2704/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c)<ref style="-uslm-dtd:footnote-ref" idref="ID4999279C4BB046B995F16501579C2D09" class="footnoteRef">7</ref> </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">This section and the amendments made by this section shall become effective on January 1, 1999, if no insured depository institution is a savings association on that date.</content><footnote id="ID4999279C4BB046B995F16501579C2D09" style="-uslm-dtd:footnote"><sup style="-uslm-dtd:superscript">7</sup><p style="-uslm-dtd:para; margin-left:1em">Subsection (d) of this section makes conforming and technical amendments primarily to the Federal Deposit Insurance Act. Since this section and the amendments made by this section never became effective, such subsection is not shown.</p></footnote>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/stG/s2709" styleType="OLC">
<num style="-uslm-dtd:enum" value="2709">SEC. 2709. </num><heading style="-uslm-dtd:header">TREASURY STUDY OF COMMON DEPOSITORY INSTITUTION CHARTER. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2709/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Study Required.—</heading><content style="-uslm-dtd:text">The Secretary of the Treasury shall conduct a study of all issues which the Secretary considers to be relevant with respect to the development of a common charter for all insured depository institutions (as defined in section 3 of the Federal Deposit Insurance Act) and the abolition of separate and distinct charters between banks and savings associations.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tII/stG/s2709/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Report to the Congress.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2709/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary of the Treasury shall submit a report to the Congress on or before March 31, 1997, containing the findings and conclusions of the Secretary in connection with the study conducted pursuant to subsection (a).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2709/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Detailed analysis and recommendations.—</heading><chapeau style="-uslm-dtd:text">The report under paragraph (1) shall include—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2709/b/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">a detailed analysis of each issue the Secretary considered relevant to the subject of the study;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2709/b/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">recommendations of the Secretary with regard to the establishment of a common charter for insured depository institutions (as defined in section 3 of the Federal Deposit Insurance Act); and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2709/b/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">such recommendations for legislative and administrative action as the Secretary determines to be appropriate to implement the recommendations of the Secretary under subparagraph (B).</content>
</subparagraph>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/stG/s2710" styleType="OLC" role="definitions">
<num style="-uslm-dtd:enum" value="2710">SEC. 2710. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s1821">12 U.S.C. 1821</ref> nt<b>]</b> </editorialNote><heading style="-uslm-dtd:header">DEFINITIONS. </heading>
<subsection style="-uslm-dtd:subsection" styleType="OLC" role="undesignated-level"><chapeau style="-uslm-dtd:text">For purposes of this subtitle, the following definitions shall apply:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2710/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Bank insurance fund.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">Bank Insurance Fund</term>” means the fund established pursuant to section (11)(a)(5)(A) of the Federal Deposit Insurance Act, as that section existed on the day before the date of enactment of this Act.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2710/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">BIF member, saif member.—</heading><content style="-uslm-dtd:text">The terms “<term style="-uslm-dtd:term">Bank Insurance Fund member</term>” and “<term style="-uslm-dtd:quote">Savings Association Insurance Fund member</term>” have the same meanings as in section 7(<i style="-uslm-dtd:italic">l</i>) of the Federal Deposit Insurance Act.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2710/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Various banking terms.—</heading><content style="-uslm-dtd:text">The terms “<term style="-uslm-dtd:term">bank</term>”, “<term style="-uslm-dtd:quote">Board of Directors</term>”, “<term style="-uslm-dtd:quote">Corporation</term>”, “<term style="-uslm-dtd:quote">deposit</term>”, “<term style="-uslm-dtd:quote">insured depository institution</term>”, “<term style="-uslm-dtd:quote">Federal savings association</term>”, “<term style="-uslm-dtd:quote">savings association</term>”, “<term style="-uslm-dtd:quote">State savings bank</term>”, and “<term style="-uslm-dtd:quote">State depository institution</term>” have the same meanings as in section 3 of the Federal Deposit Insurance Act.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2710/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Deposit insurance fund.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">Deposit Insurance Fund</term>” means the fund established under section 11(a)(4) of the Federal Deposit Insurance Act (as amended by section 2704(d) of this subtitle).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2710/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Depository institution holding company.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">depository institution holding company</term>” has the same meaning as in section 3 of the Federal Deposit Insurance Act.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2710/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Designated reserve ratio.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">designated reserve ratio</term>” has the same meaning as in section 7(b)(2)(A)(iv) of the Federal Deposit Insurance Act.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2710/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><heading style="-uslm-dtd:header">SAIF.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">Savings Association Insurance Fund</term>” means the fund established pursuant to section 11(a)(6)(A) of the Federal Deposit Insurance Act, as that section existed on the day before the date of enactment of this Act.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2710/8" styleType="OLC">
<num style="-uslm-dtd:enum" value="8">(8) </num><heading style="-uslm-dtd:header">SAIF-assessable deposit.—</heading><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:term">SAIF-assessable deposit</term>”—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2710/8/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">means a deposit that is subject to assessment for purposes of the Savings Association Insurance Fund under the Federal Deposit Insurance Act (including a deposit that is treated as insured by the Savings Association Insurance Fund under section 5(d)(3) of the Federal Deposit Insurance Act); and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/104/208/tII/stG/s2710/8/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">includes any deposit described in subparagraph (A) which is assumed after March 31, 1995, if the insured depository institution, the deposits of which are assumed, is not an insured depository institution when the special assessment is imposed under section 2702(a).</content>
</subparagraph>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tII/stG/s2711" styleType="OLC">
<num style="-uslm-dtd:enum" value="2711">SEC. 2711. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t26/s162">26 U.S.C. 162</ref> nt<b>]</b> </editorialNote><heading style="-uslm-dtd:header">DEDUCTION FOR SPECIAL ASSESSMENTS. </heading>
<subsection style="-uslm-dtd:subsection" styleType="OLC" role="undesignated-level"><chapeau style="-uslm-dtd:text">For purposes of subtitle A of the Internal Revenue Code of 1986—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2711/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the amount allowed as a deduction under section 162 of such Code for a taxable year shall include any amount paid during such year by reason of an assessment under section 2702 of this subtitle, and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tII/stG/s2711/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">section 172(f) of such Code shall not apply to any deduction described in paragraph (1).</content>
</paragraph>
</subsection>
</section>
</subtitle>
<num style="-uslm-dtd:enum" value="III">TITLE III—</num><heading style="-uslm-dtd:header">SPECTRUM ALLOCATION PROVISIONS </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/104/208/tIII/s3001" styleType="OLC">
<num style="-uslm-dtd:enum" value="3001">SEC. 3001. </num><heading style="-uslm-dtd:header">COMPETITIVE BIDDING FOR SPECTRUM. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tIII/s3001/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Commission Obligation To Make Additional Spectrum Available.—</heading><chapeau style="-uslm-dtd:text">The Federal Communications Commission shall—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tIII/s3001/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">reallocate the use of frequencies at 2305–2320 megahertz and 2345–2360 megahertz to wireless services that are consistent with international agreements concerning spectrum allocations; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tIII/s3001/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">assign the use of such frequencies by competitive bidding pursuant to section 309(j) of the Communications Act of 1934 (47 U.S.C. 309(j)).</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tIII/s3001/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Additional Requirements.—</heading><chapeau style="-uslm-dtd:text">In making the bands of frequencies described in subsection (a) available for competitive bidding, the Commission shall—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tIII/s3001/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">seek to promote the most efficient use of the spectrum; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/104/208/tIII/s3001/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">take into account the needs of public safety radio services.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tIII/s3001/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Expedited Procedures.—</heading><content style="-uslm-dtd:text">The Commission shall commence the competitive bidding for the assignment of the frequencies described in subsection (a)(1) no later than April 15, 1997. The rules governing such frequencies shall be effective immediately upon publication in the Federal Register notwithstanding section 553(d), 801(a)(3), and 806(a) of title 5, United States Code. Chapter 6 of such title, and sections 3507 and 3512 of title 44, United States Code, shall not apply to the rules and competitive bidding procedures governing such frequencies. Notwithstanding section 309(b) of the Communications Act of 1934 (47 U.S.C. 309(b)), no application for an instrument of authorization for such frequencies shall be granted by the Commission earlier than 7 days following issuance of public notice by the Commission of the acceptance for filing of such application or of any substantial amendment thereto. Notwithstanding section 309(d)(1) of such Act (47 U.S.C. 309(d)(1)), the Commission may specify a period (no less than 5 days following issuance of such public notice) for the filing of petitions to deny any application for an instrument of authorization for such frequencies. </content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/104/208/tIII/s3001/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Deadline for Collection.—</heading><content style="-uslm-dtd:text">The Commission shall conduct the competitive bidding under subsection (a)(2) in a manner that ensures that all proceeds of the bidding are deposited in accordance with section 309(j)(8) of the Communications Act of 1934 not later September 30, 1997.</content>
</subsection>
</section>
<num style="-uslm-dtd:enum" value="IV">TITLE IV—</num><heading style="-uslm-dtd:header">DEPARTMENT OF STATE AND RELATED AGENCIES </heading>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided><foreign id="warning-d496952e1521" note="processing mode: unknown" role="passthroughContent"><compsdtd:account xmlns:compsdtd="http://schemas.gpo.gov/xml/comps-dtd" id="ID866E48A34CC148EBA0F21DE3CFC8C05E" commented="no" type="subsequent" in-effect="yes"><compsdtd:header bold="off" display-inline="yes-display-inline">RELATED AGENCIES</compsdtd:header><compsdtd:omitted-text type="7" /></compsdtd:account></foreign><foreign id="warning-d496952e1525" note="processing mode: unknown" role="passthroughContent"><compsdtd:account xmlns:compsdtd="http://schemas.gpo.gov/xml/comps-dtd" id="ID1CB49A59A1E24D7AAB8FEE9A4FC5322E" commented="no" type="subsequent" in-effect="yes"><compsdtd:header bold="off" display-inline="yes-display-inline">United States Information Agency</compsdtd:header><compsdtd:omitted-text type="7" /><compsdtd:subaccount id="ID37C5B1BF30084E8BAC1FB46DB26F62D5" commented="no" type="subsequent" in-effect="yes"><compsdtd:header bold="off" display-inline="yes-display-inline">international broadcasting operations</compsdtd:header><compsdtd:appropriations-para id="ID9C43C457503E4118AF784B090AF4C816" commented="no" type="subsequent" in-effect="yes"><compsdtd:text display-inline="yes-display-inline" cross-reference-style="no">For expenses necessary to enable the United States Information Agency, as authorized by the United States Information and Educational Exchange Act of 1948, as amended, the United States International Broadcasting Act of 1994, as amended, and Reorganization Plan No. 2 of 1977, to carry out international communication activities; $325,000,000, of which not to exceed $16,000 may be used for official receptions within the United States as authorized by section 804(3) of such Act of 1948 (22 U.S.C. 1747(3)), not to exceed $35,000 may be used for representation abroad as authorized by section 302 of such Act of 1948 (22 U.S.C. 1452) and section 905 of the Foreign Service Act of 1980 (22 U.S.C. 4085), and not to exceed $39,000 may be used for official reception and representation expenses of Radio Free Europe/Radio Liberty; and in addition, not to exceed $250,000 from fees as authorized by section 810 of such Act of 1948 (22 U.S.C. 1475e), to remain available until expended for carrying out authorized purposes; and in addition, notwithstanding any other provision of law, not to exceed $1,000,000 in monies received (including receipts from advertising, if any) by or for the use of the United States Information Agency from or in connection with broadcasting resources owned by or on behalf of the Agency, to be available until expended for carrying out authorized purposes.</compsdtd:text></compsdtd:appropriations-para></compsdtd:subaccount><compsdtd:subaccount id="ID2A760D4ADE6E4A3081E77A5A02E47ADA" commented="no" type="subsequent" in-effect="yes"><compsdtd:header bold="off" display-inline="yes-display-inline">broadcasting to cuba</compsdtd:header><compsdtd:appropriations-para id="IDA9551E4C08F347EFB2923334C6E267F8" commented="no" type="subsequent" in-effect="yes"><compsdtd:text display-inline="yes-display-inline" cross-reference-style="no">For expenses necessary to enable the United States Information Agency to carry out the Radio Broadcasting to Cuba Act, as amended, the Television Broadcasting to Cuba Act, and the International Broadcasting Act of 1994, including the purchase, rent, construction, and improvement of facilities for radio and television transmission and reception, and purchase and installation of necessary equipment for radio and television transmission and reception, $25,000,000, to remain available until expended.</compsdtd:text></compsdtd:appropriations-para></compsdtd:subaccount><compsdtd:subaccount id="ID93DFB18804F747868AF0412190A1E249" commented="no" type="subsequent" in-effect="yes"><compsdtd:header bold="off" display-inline="yes-display-inline">radio construction</compsdtd:header><compsdtd:appropriations-para id="IDF07918A4525C4C7FAE4777E3537E739C" commented="no" type="subsequent" in-effect="yes"><compsdtd:text display-inline="yes-display-inline" cross-reference-style="no">For the purchase, rent, construction, and improvement of facilities for radio transmission and reception, and purchase and installation of necessary equipment for radio and television transmission and reception as authorized by section 801 of the United States Information and Educational Exchange Act of 1948 (22 U.S.C. 1471), $35,490,000, to remain available until expended, as authorized by section 704(a) of such Act of 1948 (22 U.S.C. 1477b(a)).</compsdtd:text></compsdtd:appropriations-para><compsdtd:omitted-text type="7" /></compsdtd:subaccount></compsdtd:account></foreign>