[Congressional Record Volume 154, Number 24 (Wednesday, February 13, 2008)]
[Senate]
[Pages S971-S983]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          STATEMENTS ON INTRODUCED BILLS AND JOINT RESOLUTIONS

      By Mr. DOMENICI (for himself, Mr. Lieberman, Mr. Sessions, Mr. 
        Feingold, Mr. Isakson, Mr. Alexander, Mr. Voinovich, Mr. Lugar, 
        Mr. Chambliss, Mrs. Hutchison, Mr. Martinez, Mr. Enzi, Mr. 
        Corker, and Ms. Snowe):
  S. 2627. A bill to provide for a biennial budget process and a 
biennial appropriations process and to enhance oversight and the 
performance of the Federal Government; to the Committee on the Budget.
  Mr. DOMENICI. Mr. President, on behalf of Senator Lieberman, the 
distinguished chairman of the Homeland Security and Governmental 
Affairs Committee, I rise to introduce the Biennial Budgeting and 
Appropriations Act, a bill to convert the annual budget and 
appropriations process to a 2-year cycle and to enhance oversight of 
Federal programs.
  Mr. President, our most recent experience with the fiscal year 2008 
Omnibus Consolidated Appropriations Act shows the need for a biennial 
appropriations and budget process. That one bill clearly demonstrated 
Congress is incapable of completing the budget, authorizing, and 
appropriations process on an annual basis and unfortunantly, this is 
not the first time.

[[Page S972]]

  Congress should now act to streamline the system by moving to a 2-
year, or biennial, budget process. This is the most important reform we 
can enact to streamline the budget process, to make the Senate a more 
deliberative and effective institution, and to make us more accountable 
to the American people.
  Moving to a biennial budget and appropriations process enjoys very 
broad support. President George W. Bush has supported a biennial 
budgeting process. Presidents Clinton, Reagan, and Bush also proposed a 
biennial appropriations and budget cycle. Leon Panetta, who served as 
White House Chief of Staff, OMB Director, and House Budget Committee 
chairman, has advocated a biennial budget since the late 1970s. Former 
OMB and CBO Director Alice Rivlin has called for a biennial budget the 
past two decades. Vice President Gore's National Performance Review and 
the 1993 Joint Committee on the Reorganization of Congress both 
recommended a biennial appropriations and budget cycle.
  A biennial budget will dramatically improve the current budget 
process. The current annual budget process is redundant, inefficient, 
and destined for failure each year. Look at what we struggle to 
complete each year under the current annual process. The annual budget 
process consumes 3 years: 1 year for the administration to prepare the 
President's budget, another year for the Congress to put the budget 
into law, and the final year to actually execute the budget.
  Today, I want to focus just on the congressional budget process, the 
process of annually passing a budget resolution, authorization 
legislation, and multiple appropriation bills. The record clearly shows 
that last year's experience was nothing new. Under the annual process, 
we consistently fail to complete action on multiple appropriations 
bills, to authorize programs, and to meet our deadlines.
  While we have made a number of improvements in the budget process, 
the current annual process is redundant and inefficient. The Senate has 
the same debate, amendments and votes on the same issue three or four 
times a year--once on the budget resolution, again on the authorization 
bill, and finally on the appropriations bill.
  Several years ago, I asked the Congressional Research Service, CRS, 
to update and expand upon an analysis of the amount of time we spend on 
the budget. CRS looked at all votes on appropriations, revenue, 
reconciliation, and debt limit measures as well as budget resolutions. 
CRS then examined any other vote dealing with budgetary levels, Budget 
Act waivers, or votes pertaining to the budget process. Beginning with 
1980, budget related votes started dominating the work of the Senate. 
In 1996, 73 percent of the votes the Senate took were related to the 
budget.
  If we cannot adequately focus on our duties because we are constantly 
debating the budget throughout the authorizing, budgeting, and 
appropriations process, just imagine how confused the American public 
is about what we are doing. The result is that the public does not 
understand what we are doing and it breeds cynicism about our 
Government.
  Under the legislation we are introducing today, the President would 
submit a 2-year budget and Congress would consider a 2-year budget 
resolution and 2-year appropriation bills during the first session of a 
Congress. The second session of the Congress would be devoted to 
consideration of authorization bills and for oversight of Government 
agencies.
  Most of the arguments against a biennial budget process will come 
from those who claim we cannot predict or plan on a 2-year basis. For 
most of the budget, we do not actually budget on an annual basis. Our 
entitlement and revenue laws are under permanent law, and Congress does 
not change these laws on an annual basis. The only component of the 
budget that is set in law annually are the appropriated, or 
discretionary, accounts.
  The most predictable category of the budget are these appropriated, 
or discretionary, accounts of the Federal Government. Much of this 
spending is associated with international activities or emergencies. 
Because most of this funding cannot be predicted on an annual basis, a 
biennial budget is no less deficient than the current annual process. 
My bill does not preclude supplemental appropriations necessary to meet 
these emergency or unanticipated requirements.
  In 1993 I had the honor to serve as cochairman on a joint committee 
that studied the operations of the Congress. Senator Byrd testified 
before that committee that the increasing demands put on us as Senators 
has led to our ``fractured attention.'' We simply are too busy to 
adequately focus on the people's business. This legislation is designed 
to free up time and focus our attention, particularly with respect to 
the oversight of Federal programs and activities.
  Frankly, the limited oversight we are now doing is not as good as it 
should be. Our authorizing committees are increasingly crowded out of 
the legislative process. Under a biennial budget, the second year of 
the biennium will be exclusively devoted to examining Federal programs 
and developing authorization legislation. The calendar will be free of 
the budget and appropriations process, giving these committees the time 
and opportunity to provide oversight, review, and legislate changes to 
Federal programs. Oversight and the authorization should be an ongoing 
process, but a biennial appropriations process will provide greater 
opportunity for legislators to concentrate on programs and policies in 
the second year.
  A biennial budget cannot make the difficult decisions that must be 
made in budgeting, but it can provide the tools necessary to make much 
better decisions. Under the current annual budget process, we are 
constantly spending the taxpayers' money instead of focusing on how 
best and most efficiently we should spend the taxpayers' money. By 
moving to a biennial budget cycle, we can plan, budget, and appropriate 
more effectively, strengthen oversight and watchdog functions, and 
improve the efficiency of government agencies.
  Mr. President, I ask unanimous consent that the text of the bill be 
printed in the Record.
  There being no objection, the material was ordered to be printed in 
the Record as follows:

                                S. 2627

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Biennial Budgeting and 
     Appropriations Act''.

     SEC. 2. REVISION OF TIMETABLE.

       Section 300 of the Congressional Budget Act of 1974 (2 
     U.S.C. 631) is amended to read as follows:


                              ``TIMETABLE

       ``Sec. 300.  (a) In General.--Except as provided by 
     subsection (b), the timetable with respect to the 
     congressional budget process for any Congress (beginning with 
     the One Hundred Eleventh Congress) is as follows:


                             ``First Session
On or before:                               Action to be completed:
First Monday in February..................  President submits budget
                                             recommendations.
February 15...............................  Congressional Budget Office
                                             submits report to Budget
                                             Committees.
Not later than 6 weeks after budget         Committees submit views and
 submission.                                 estimates to Budget
                                             Committees.
April 1...................................  Budget Committees report
                                             concurrent resolution on
                                             the biennial budget.
May 15....................................  Congress completes action on
                                             concurrent resolution on
                                             the biennial budget.
May 15....................................  Biennial appropriation bills
                                             may be considered in the
                                             House.
June 10...................................  House Appropriations
                                             Committee reports last
                                             biennial appropriation
                                             bill.
June 30...................................  House completes action on
                                             biennial appropriation
                                             bills.
August 1..................................  Congress completes action on
                                             reconciliation legislation.
October 1.................................  Biennium begins.
                             Second Session
 
On or before:                               Action to be completed:
February 15...............................  President submits budget
                                             review.
Not later than 6 weeks after President      Congressional Budget Office
 submits budget review.                      submits report to Budget
                                             Committees.
The last day of the session...............  Congress completes action on
                                             bills and resolutions
                                             authorizing new budget
                                             authority for the
                                             succeeding biennium.
 

       ``(b) Special Rule.--In the case of any first session of 
     Congress that begins in any year

[[Page S973]]

     immediately following a leap year and during which the term 
     of a President (except a President who succeeds himself or 
     herself) begins, the following dates shall supersede those 
     set forth in subsection (a):

                             ``First Session
On or before:                               Action to be completed:
First Monday in April.....................  President submits budget
                                             recommendations.
April 20..................................  Committees submit views and
                                             estimates to Budget
                                             Committees.
May 15....................................  Budget Committees report
                                             concurrent resolution on
                                             the biennial budget.
June 1....................................  Congress completes action on
                                             concurrent resolution on
                                             the biennial budget.
July 1....................................  Biennial appropriation bills
                                             may be considered in the
                                             House.
July 20...................................  House completes action on
                                             biennial appropriation
                                             bills.
August 1..................................  Congress completes action on
                                             reconciliation legislation.
October 1.................................  Biennium begins.''.
 

     SEC. 3. AMENDMENTS TO THE CONGRESSIONAL BUDGET AND 
                   IMPOUNDMENT CONTROL ACT OF 1974.

       (a) Declaration of Purpose.--Section 2(2) of the 
     Congressional Budget and Impoundment Control Act of 1974 (2 
     U.S.C. 621(2)) is amended by striking ``each year'' and 
     inserting ``biennially''.
       (b) Definitions.--
       (1) Budget resolution.--Section 3(4) of such Act (2 U.S.C. 
     622(4)) is amended by striking ``fiscal year'' each place it 
     appears and inserting ``biennium''.
       (2) Biennium.--Section 3 of such Act (2 U.S.C. 622) is 
     further amended by adding at the end the following new 
     paragraph:
       ``(11) The term `biennium' means the period of 2 
     consecutive fiscal years beginning on October 1 of any odd-
     numbered year.''.
       (c) Biennial Concurrent Resolution on the Budget.--
       (1) Section heading.--The section heading of section 301 of 
     such Act is amended by striking ``annual'' and inserting 
     ``biennial''.
       (2) Contents of resolution.--Section 301(a) of such Act (2 
     U.S.C. 632(a)) is amended--
       (A) in the matter preceding paragraph (1) by--
       (i) striking ``April 15 of each year'' and inserting ``May 
     15 of each odd-numbered year'';
       (ii) striking ``the fiscal year beginning on October 1 of 
     such year'' the first place it appears and inserting ``the 
     biennium beginning on October 1 of such year''; and
       (iii) striking ``the fiscal year beginning on October 1 of 
     such year'' the second place it appears and inserting ``each 
     fiscal year in such period'';
       (B) in paragraph (6), by striking ``for the fiscal year'' 
     and inserting ``for each fiscal year in the biennium''; and
       (C) in paragraph (7), by striking ``for the fiscal year'' 
     and inserting ``for each fiscal year in the biennium''.
       (3) Additional matters.--Section 301(b)(3) of such Act (2 
     U.S.C. 632(b)) is amended by striking ``for such fiscal 
     year'' and inserting ``for either fiscal year in such 
     biennium''.
       (4) Views of other committees.--Section 301(d) of such Act 
     (2 U.S.C. 632(d)) is amended by inserting ``(or, if 
     applicable, as provided by section 300(b))'' after ``United 
     States Code''.
       (5) Hearings.--Section 301(e)(1) of such Act (2 U.S.C. 
     632(e)) is amended by--
       (A) striking ``fiscal year'' and inserting ``biennium''; 
     and
       (B) inserting after the second sentence the following: ``On 
     or before April 1 of each odd-numbered year (or, if 
     applicable, as provided by section 300(b)), the Committee on 
     the Budget of each House shall report to its House the 
     concurrent resolution on the budget referred to in subsection 
     (a) for the biennium beginning on October 1 of that year.''.
       (6) Goals for reducing unemployment.--Section 301(f) of 
     such Act (2 U.S.C. 632(f)) is amended by striking ``fiscal 
     year'' each place it appears and inserting ``biennium''.
       (7) Economic assumptions.--Section 301(g)(1) of such Act (2 
     U.S.C. 632(g)(1)) is amended by striking ``for a fiscal 
     year'' and inserting ``for a biennium''.
       (8) Table of contents.--The item relating to section 301 in 
     the table of contents set forth in section 1(b) of such Act 
     is amended by striking ``Annual'' and inserting ``Biennial''.
       (d) Committee Allocations.--Section 302 of such Act (2 
     U.S.C. 633) is amended--
       (1) in subsection (a)
       (A) in paragraph (1), by--
       (i) striking ``for the first fiscal year of the 
     resolution,'' and inserting ``for each fiscal year in the 
     biennium,'';
       (ii) striking ``for that period of fiscal years'' and 
     inserting ``for all fiscal years covered by the resolution''; 
     and
       (iii) striking ``for the fiscal year of that resolution'' 
     and inserting ``for each fiscal year in the biennium''; and
       (B) in paragraph (5), by striking ``April 15'' and 
     inserting ``May 15 or June 1 (under section 300(b))'';
       (2) in subsection (b), by striking ``budget year'' and 
     inserting ``biennium'';
       (3) in subsection (c) by striking ``for a fiscal year'' 
     each place it appears and inserting ``for each fiscal year in 
     the biennium'';
       (4) in subsection (f)(1), by striking ``for a fiscal year'' 
     and inserting ``for a biennium'';
       (5) in subsection (f)(1), by striking ``the first fiscal 
     year'' and inserting ``each fiscal year of the biennium'';
       (6) in subsection (f)(2)(A), by--
       (A) striking ``the first fiscal year'' and inserting ``each 
     fiscal year of the biennium''; and
       (B) striking ``the total of fiscal years'' and inserting 
     ``the total of all fiscal years covered by the resolution''; 
     and
       (7) in subsection (g)(1)(A), by striking ``April'' and 
     inserting ``May''.
       (e) Section 303 Point of Order.--
       (1) In general.--Section 303(a) of such Act (2 U.S.C. 
     634(a)) is amended by--
       (A) striking ``the first fiscal year'' and inserting ``each 
     fiscal year of the biennium''; and
       (B) striking ``that fiscal year'' each place it appears and 
     inserting ``that biennium''.
       (2) Exceptions in the house.--Section 303(b)(1) of such Act 
     (2 U.S.C. 634(b)) is amended--
       (A) in subparagraph (A), by striking ``the budget year'' 
     and inserting ``the biennium''; and
       (B) in subparagraph (B), by striking ``the fiscal year'' 
     and inserting ``the biennium''.
       (3) Application to the senate.--Section 303(c)(1) of such 
     Act (2 U.S.C. 634(c)) is amended by--
       (A) striking ``fiscal year'' and inserting ``biennium''; 
     and
       (B) striking ``that year'' and inserting ``each fiscal year 
     of that biennium''.
       (f) Permissible Revisions of Concurrent Resolutions on the 
     Budget.--Section 304(a) of such Act (2 U.S.C. 635) is 
     amended--
       (1) by striking ``fiscal year'' the first two places it 
     appears and inserting ``biennium''; and
       (2) by striking ``for such fiscal year'' and inserting 
     ``for such biennium''.
       (g) Procedures for Consideration of Budget Resolutions.--
     Section 305 of such Act (2 U.S.C. 636(3)) is amended--
       (1) in subsection (a)(3), by striking ``fiscal year'' and 
     inserting ``biennium''; and
       (2) in subsection (b)(3), by striking ``fiscal year'' and 
     inserting ``biennium''.
       (h) Completion of House Action on Appropriation Bills.--
     Section 307 of such Act (2 U.S.C. 638) is amended--
       (1) by striking ``each year'' and inserting ``each odd-
     numbered year'';
       (2) by striking ``annual'' and inserting ``biennial'';
       (3) by striking ``fiscal year'' and inserting ``biennium''; 
     and
       (4) by striking ``that year'' and inserting ``each odd-
     numbered year''.
       (i) Completion of Action on Regular Appropriation Bills.--
     Section 309 of such Act (2 U.S.C. 640) is amended--
       (1) by inserting ``of any odd-numbered calendar year'' 
     after ``July'';
       (2) by striking ``annual'' and inserting ``biennial''; and
       (3) by striking ``fiscal year'' and inserting ``biennium''.
       (j) Reconciliation Process.--Section 310(a) of such Act (2 
     U.S.C. 641(a)) is amended--
       (1) in the matter preceding paragraph (1), by striking 
     ``any fiscal year'' and inserting ``any biennium''; and
       (2) in paragraph (1) by striking ``such fiscal year'' each 
     place it appears and inserting ``any fiscal year covered by 
     such resolution''.
       (k) Section 311 Point of Order.--
       (1) In the house.--Section 311(a)(1) of such Act (2 U.S.C. 
     642(a)) is amended--
       (A) by striking ``for a fiscal year'' and inserting ``for a 
     biennium'';
       (B) by striking ``the first fiscal year'' each place it 
     appears and inserting ``either fiscal year of the biennium''; 
     and
       (C) by striking ``that first fiscal year'' and inserting 
     ``each fiscal year in the biennium''.
       (2) In the senate.--Section 311(a)(2) of such Act is 
     amended--
       (A) in subparagraph (A), by striking ``for the first fiscal 
     year'' and inserting ``for either fiscal year of the 
     biennium''; and
       (B) in subparagraph (B)--
       (i) by striking ``that first fiscal year'' the first place 
     it appears and inserting ``each fiscal year in the 
     biennium''; and
       (ii) by striking ``that first fiscal year and the ensuing 
     fiscal years'' and inserting ``all fiscal years''.
       (3) Social security levels.--Section 311(a)(3) of such Act 
     is amended by--
       (A) striking ``for the first fiscal year'' and inserting 
     ``each fiscal year in the biennium''; and
       (B) striking ``that fiscal year and the ensuing fiscal 
     years'' and inserting ``all fiscal years''.
       (l) MDA Point of Order.--Section 312(c) of the 
     Congressional Budget Act of 1974 (2 U.S.C. 643) is amended--
       (1) by striking ``for a fiscal year'' and inserting ``for a 
     biennium'';
       (2) in paragraph (1), by striking ``the first fiscal year'' 
     and inserting ``either fiscal year in the biennium'';
       (3) in paragraph (2), by striking ``that fiscal year'' and 
     inserting ``either fiscal year in the biennium''; and
       (4) in the matter following paragraph (2), by striking 
     ``that fiscal year'' and inserting ``the applicable fiscal 
     year''.

     SEC. 4. AMENDMENTS TO TITLE 31, UNITED STATES CODE.

       (a) Definition.--Section 1101 of title 31, United States 
     Code, is amended by adding at the end thereof the following 
     new paragraph:
       ``(3) `biennium' has the meaning given to such term in 
     paragraph (11) of section 3 of

[[Page S974]]

     the Congressional Budget and Impoundment Control Act of 1974 
     (2 U.S.C. 622(11)).''.
       (b) Budget Contents and Submission to the Congress.--
       (1) Schedule.--The matter preceding paragraph (1) in 
     section 1105(a) of title 31, United States Code, is amended 
     to read as follows:
       ``(a) On or before the first Monday in February of each 
     odd-numbered year (or, if applicable, as provided by section 
     300(b) of the Congressional Budget Act of 1974), beginning 
     with the One Hundred Eleventh Congress, the President shall 
     transmit to the Congress, the budget for the biennium 
     beginning on October 1 of such calendar year. The budget of 
     the United States Government transmitted under this 
     subsection shall include a budget message and summary and 
     supporting information. The President shall include in each 
     budget the following:''.
       (2) Expenditures.--Section 1105(a)(5) of title 31, United 
     States Code, is amended by striking ``the fiscal year for 
     which the budget is submitted and the 4 fiscal years after 
     that year'' and inserting ``each fiscal year in the biennium 
     for which the budget is submitted and in the succeeding 4 
     fiscal years''.
       (3) Receipts.--Section 1105(a)(6) of title 31, United 
     States Code, is amended by striking ``the fiscal year for 
     which the budget is submitted and the 4 fiscal years after 
     that year'' and inserting ``each fiscal year in the biennium 
     for which the budget is submitted and in the succeeding 4 
     years''.
       (4) Balance statements.--Section 1105(a)(9)(C) of title 31, 
     United States Code, is amended by striking ``the fiscal 
     year'' and inserting ``each fiscal year in the biennium''.
       (5) Functions and activities.--Section 1105(a)(12) of title 
     31, United States Code, is amended in subparagraph (A), by 
     striking ``the fiscal year'' and inserting ``each fiscal year 
     in the biennium''.
       (6) Allowances.--Section 1105(a)(13) of title 31, United 
     States Code, is amended by striking ``the fiscal year'' and 
     inserting ``each fiscal year in the biennium''.
       (7) Allowances for uncontrolled expenditures.--Section 
     1105(a)(14) of title 31, United States Code, is amended by 
     striking ``that year'' and inserting ``each fiscal year in 
     the biennium for which the budget is submitted''.
       (8) Tax expenditures.--Section 1105(a)(16) of title 31, 
     United States Code, is amended by striking ``the fiscal 
     year'' and inserting ``each fiscal year in the biennium''.
       (9) Future years.--Section 1105(a)(17) of title 31, United 
     States Code, is amended--
       (A) by striking ``the fiscal year following the fiscal 
     year'' and inserting ``each fiscal year in the biennium 
     following the biennium'';
       (B) by striking ``that following fiscal year'' and 
     inserting ``each such fiscal year''; and
       (C) by striking ``fiscal year before the fiscal year'' and 
     inserting ``biennium before the biennium''.
       (10) Prior year outlays.--Section 1105(a)(18) of title 31, 
     United States Code, is amended--
       (A) by striking ``the prior fiscal year'' and inserting 
     ``each of the 2 most recently completed fiscal years,'';
       (B) by striking ``for that year'' and inserting ``with 
     respect to those fiscal years''; and
       (C) by striking ``in that year'' and inserting ``in those 
     fiscal years''.
       (11) Prior year receipts.--Section 1105(a)(19) of title 31, 
     United States Code, is amended--
       (A) by striking ``the prior fiscal year'' and inserting 
     ``each of the 2 most recently completed fiscal years'';
       (B) by striking ``for that year'' and inserting ``with 
     respect to those fiscal years''; and
       (C) by striking ``in that year'' each place it appears and 
     inserting ``in those fiscal years''.
       (c) Estimated Expenditures of Legislative and Judicial 
     Branches.--Section 1105(b) of title 31, United States Code, 
     is amended by striking ``each year'' and inserting ``each 
     even-numbered year''.
       (d) Recommendations To Meet Estimated Deficiencies.--
     Section 1105(c) of title 31, United States Code, is amended--
       (1) by striking ``the fiscal year for'' the first place it 
     appears and inserting ``each fiscal year in the biennium 
     for'';
       (2) by striking ``the fiscal year for'' the second place it 
     appears and inserting ``each fiscal year of the biennium, as 
     the case may be, for''; and
       (3) by striking ``for that year'' and inserting ``for each 
     fiscal year of the biennium''.
       (e) Capital Investment Analysis.--Section 1105(e)(1) of 
     title 31, United States Code, is amended by striking 
     ``ensuing fiscal year'' and inserting ``biennium to which 
     such budget relates''.
       (f) Supplemental Budget Estimates and Changes.--
       (1) In general.--Section 1106(a) of title 31, United States 
     Code, is amended--
       (A) in the matter preceding paragraph (1), by--
       (i) inserting after ``Before July 16 of each year'' the 
     following: ``and February 15 of each even-numbered year''; 
     and
       (ii) striking ``fiscal year'' and inserting ``biennium'';
       (B) in paragraph (1), by striking ``that fiscal year'' and 
     inserting ``each fiscal year in such biennium'';
       (C) in paragraph (2), by striking ``fiscal year'' and 
     inserting ``biennium''; and
       (D) in paragraph (3), by striking ``fiscal year'' and 
     inserting ``biennium''.
       (2) Changes.--Section 1106(b) of title 31, United States 
     Code, is amended by--
       (A) striking ``the fiscal year'' and inserting ``each 
     fiscal year in the biennium'';
       (B) inserting after ``Before July 16 of each year'' the 
     following: ``and February 15 of each even-numbered year''; 
     and
       (C) striking ``submitted before July 16'' and inserting 
     ``required by this subsection''.
       (g) Current Programs and Activities Estimates.--
       (1) In general.--Section 1109(a) of title 31, United States 
     Code, is amended--
       (A) by striking ``On or before the first Monday after 
     January 3 of each year (on or before February 5 in 1986)'' 
     and inserting ``At the same time the budget required by 
     section 1105 is submitted for a biennium''; and
       (B) by striking ``the following fiscal year'' and inserting 
     ``each fiscal year of such period''.
       (2) Joint economic committee.--Section 1109(b) of title 31, 
     United States Code, is amended by striking ``March 1 of each 
     year'' and inserting ``within 6 weeks of the President's 
     budget submission for each odd-numbered year (or, if 
     applicable, as provided by section 300(b) of the 
     Congressional Budget Act of 1974)''.
       (h) Year-Ahead Requests for Authorizing Legislation.--
     Section 1110 of title 31, United States Code, is amended by--
       (1) striking ``May 16'' and inserting ``March 31''; and
       (2) striking ``year before the year in which the fiscal 
     year begins'' and inserting ``calendar year preceding the 
     calendar year in which the biennium begins''.

     SEC. 5. TWO-YEAR APPROPRIATIONS; TITLE AND STYLE OF 
                   APPROPRIATIONS ACTS.

       Section 105 of title 1, United States Code, is amended to 
     read as follows:

     ``Sec. 105. Title and style of appropriations Acts

       ``(a) The style and title of all Acts making appropriations 
     for the support of the Government shall be as follows: `An 
     Act making appropriations (here insert the object) for each 
     fiscal year in the biennium of fiscal years (here insert the 
     fiscal years of the biennium).'.
       ``(b) All Acts making regular appropriations for the 
     support of the Government shall be enacted for a biennium and 
     shall specify the amount of appropriations provided for each 
     fiscal year in such period.
       ``(c) For purposes of this section, the term `biennium' has 
     the same meaning as in section 3(11) of the Congressional 
     Budget and Impoundment Control Act of 1974 (2 U.S.C. 
     622(11)).''.

     SEC. 6. MULTIYEAR AUTHORIZATIONS.

       (a) In General.--Title III of the Congressional Budget Act 
     of 1974 is amended by adding at the end the following new 
     section:


                   ``AUTHORIZATIONS OF APPROPRIATIONS

       ``Sec. 316.  (a) Point of Order.--It shall not be in order 
     in the House of Representatives or the Senate to consider--
       ``(1) any bill, joint resolution, amendment, motion, or 
     conference report that authorizes appropriations for a period 
     of less than 2 fiscal years, unless the program, project, or 
     activity for which the appropriations are authorized will 
     require no further appropriations and will be completed or 
     terminated after the appropriations have been expended; and
       ``(2) in any odd-numbered year, any authorization or 
     revenue bill or joint resolution until Congress completes 
     action on the biennial budget resolution, all regular 
     biennial appropriations bills, and all reconciliation bills.
       ``(b) Applicability.--In the Senate, subsection (a) shall 
     not apply to--
       ``(1) any measure that is privileged for consideration 
     pursuant to a rule or statute;
       ``(2) any matter considered in Executive Session; or
       ``(3) an appropriations measure or reconciliation bill.''.
       (b) Amendment to Table of Contents.--The table of contents 
     set forth in section 1(b) of the Congressional Budget and 
     Impoundment Control Act of 1974 is amended by adding after 
     the item relating to section 315 the following new item:

``Sec. 316. Authorizations of appropriations''.

     SEC. 7. GOVERNMENT PLANS ON A BIENNIAL BASIS.

       (a) Strategic Plans.--Section 306 of title 5, United States 
     Code, is amended--
       (1) in subsection (a), by striking ``September 30, 1997'' 
     and inserting ``September 30, 2009'';
       (2) in subsection (b)--
       (A) by striking ``five years forward'' and inserting ``6 
     years forward'';
       (B) by striking ``at least every three years'' and 
     inserting ``at least every 4 years''; and
       (C) by striking beginning with ``, except that'' through 
     ``four years''; and
       (3) in subsection (c), by inserting a comma after 
     ``section'' the second place it appears and adding 
     ``including a strategic plan submitted by September 30, 2009 
     meeting the requirements of subsection (a)''.
       (b) Budget Contents and Submission to Congress.--Paragraph 
     (28) of section 1105(a) of title 31, United States Code, is 
     amended by striking ``beginning with fiscal year 1999, a'' 
     and inserting ``beginning with fiscal year 2010, a 
     biennial''.
       (c) Performance Plans.--Section 1115 of title 31, United 
     States Code, is amended--
       (1) in subsection (a)--
       (A) in the matter before paragraph (1)--
       (i) by striking ``section 1105(a)(29)'' and inserting 
     ``section 1105(a)(28)''; and
       (ii) by striking ``an annual'' and inserting ``a 
     biennial'';

[[Page S975]]

       (B) in paragraph (1) by inserting after ``program 
     activity'' the following: ``for both years 1 and 2 of the 
     biennial plan'';
       (C) in paragraph (5) by striking ``and'' after the 
     semicolon,
       (D) in paragraph (6) by striking the period and inserting a 
     semicolon; and inserting ``and'' after the inserted 
     semicolon; and
       (E) by adding after paragraph (6) the following:
       ``(7) cover a 2-year period beginning with the first fiscal 
     year of the next biennial budget cycle.'';
       (2) in subsection (d) by striking ``annual'' and inserting 
     ``biennial''; and
       (3) in paragraph (6) of subsection (f) by striking 
     ``annual'' and inserting ``biennial''.
       (d) Managerial Accountability and Flexibility.--Section 
     9703 of title 31, United States Code, relating to managerial 
     accountability, is amended--
       (1) in subsection (a)--
       (A) in the first sentence by striking ``annual''; and
       (B) by striking ``section 1105(a)(29)'' and inserting 
     ``section 1105(a)(28)'';
       (2) in subsection (e)--
       (A) in the first sentence by striking ``one or'' before 
     ``years'';
       (B) in the second sentence by striking ``a subsequent 
     year'' and inserting ``a subsequent 2-year period''; and
       (C) in the third sentence by striking ``three'' and 
     inserting ``4''.
       (e) Pilot Projects for Performance Budgeting.--Section 1119 
     of title 31, United States Code, is amended--
       (1) in paragraph (1) of subsection (d), by striking 
     ``annual'' and inserting ``biennial''; and
       (2) in subsection (e), by striking ``annual'' and inserting 
     ``biennial''.
       (f) Strategic Plans.--Section 2802 of title 39, United 
     States Code, is amended--
       (1) is subsection (a), by striking ``September 30, 1997'' 
     and inserting ``September 30, 2009'';
       (2) by striking ``five years forward'' and inserting ``6 
     years forward'';
       (3) in subsection (b), by striking ``at least every three 
     years'' and inserting ``at least every 4 years''; and
       (4) in subsection (c), by inserting a comma after 
     ``section'' the second place it appears and inserting 
     ``including a strategic plan submitted by September 30, 2009 
     meeting the requirements of subsection (a)''.
       (g) Performance Plans.--Section 2803(a) of title 39, United 
     States Code, is amended--
       (1) in the matter before paragraph (1), by striking ``an 
     annual'' and inserting ``a biennial'';
       (2) in paragraph (1), by inserting after ``program 
     activity'' the following: ``for both years 1 and 2 of the 
     biennial plan'';
       (3) in paragraph (5), by striking ``and'' after the 
     semicolon;
       (4) in paragraph (6), by striking the period and inserting 
     ``; and''; and
       (5) by adding after paragraph (6) the following:
       ``(7) cover a 2-year period beginning with the first fiscal 
     year of the next biennial budget cycle.''.
       (h) Committee Views of Plans and Reports.--Section 301(d) 
     of the Congressional Budget Act (2 U.S.C. 632(d)) is amended 
     by adding at the end ``Each committee of the Senate or the 
     House of Representatives shall review the strategic plans, 
     performance plans, and performance reports, required under 
     section 306 of title 5, United States Code, and sections 1115 
     and 1116 of title 31, United States Code, of all agencies 
     under the jurisdiction of the committee. Each committee may 
     provide its views on such plans or reports to the Committee 
     on the Budget of the applicable House.''.
       (i) Effective Date.--
       (1) In general.--The amendments made by this section shall 
     take effect on March 1, 2009.
       (2) Agency actions.--Effective on and after the date of 
     enactment of this Act, each agency shall take such actions as 
     necessary to prepare and submit any plan or report in 
     accordance with the amendments made by this Act.

     SEC. 8. BIENNIAL APPROPRIATIONS BILLS.

       (a) In General.--Title III of the Congressional Budget Act 
     of 1974 (2 U.S.C. 631 et seq.) is amended by adding at the 
     end the following:


            ``CONSIDERATION OF BIENNIAL APPROPRIATIONS BILLS

       ``Sec. 317.  It shall not be in order in the House of 
     Representatives or the Senate in any odd-numbered year to 
     consider any regular bill providing new budget authority or a 
     limitation on obligations under the jurisdiction of any of 
     the subcommittees of the Committees on Appropriations for 
     only the first fiscal year of a biennium, unless the program, 
     project, or activity for which the new budget authority or 
     obligation limitation is provided will require no additional 
     authority beyond 1 year and will be completed or terminated 
     after the amount provided has been expended.''.
       (b) Amendment to Table of Contents.--The table of contents 
     set forth in section 1(b) of the Congressional Budget and 
     Impoundment Control Act of 1974 is amended by adding after 
     the item relating to section 316 the following new item:

``Sec. 317. Consideration of biennial appropriations bills''.

     SEC. 9. REPORT ON TWO-YEAR FISCAL PERIOD.

       Not later than 180 days after the date of enactment of this 
     Act, the Director of OMB shall--
       (1) determine the impact and feasibility of changing the 
     definition of a fiscal year and the budget process based on 
     that definition to a 2-year fiscal period with a biennial 
     budget process based on the 2-year period; and
       (2) report the findings of the study to the Committees on 
     the Budget of the House of Representatives and the Senate.

     SEC. 10. EFFECTIVE DATE.

       Except as provided in section 7, this Act and the 
     amendments made by this Act shall take effect on January 1, 
     2009, and shall apply to budget resolutions and 
     appropriations for the biennium beginning with fiscal year 
     2010.
                                 ______
                                 
      By Mr. SPECTER (for himself and Mr. Casey):
  S. 2629. A bill to amend title XIX of the Social Security Act to 
provide Medicaid coverage of drugs prescribed for certain research 
study child participants; to the Committee on Finance.
  Mr. SPECTER. Mr. President, I have sought recognition today to 
introduce Nino's Act, to provide for the continuance of successful 
treatment for children who are required to leave National Institutes of 
Health, NIH, research studies. The NIH provides the greatest medical 
research in the world on innumerable diseases, including cancer, 
Alzheimer's, Parkinson's. The NIH also conducts excellent research on 
diseases that affect children. To conduct that research many brave 
children must partake in research studies including observational, or 
natural history, studies and clinical trials to test experimental 
therapies. This participation is critical to understanding diseases and 
ultimately finding cures at the NIH.
  To participate in the trials and studies, children and their families 
often make considerable sacrifices. Families will travel great 
distances to receive treatment that may provide relief from the child's 
illness. In many cases, parents and doctors will have tried many 
treatments for the child's disease about which little may be known or 
understood. The NIH studies represent an opportunity for both the 
medical community to learn more about the disease and the child to be 
studied and potentially treated by the best researchers in the world.
  When the experimental treatments are successful, it is cause for 
great celebration for the child. The joy, however, can end quickly as 
the studies come to end but the children who have been part of them 
continue to be stricken by these terrible illnesses.
  Nino's Act seeks to transition children out of the NIH studies as 
they end so they don't experience a gap in their important treatment. 
This legislation continues the successful treatment initiated in NIH 
studies by providing access to the same prescription drugs for children 
who are required to leave NIH clinical studies due to the studies 
ending, researcher leaving, or other reason. Often drugs that are used 
successfully in these studies have not yet been approved by the Food 
and Drug Administration or have not been approved for treatment of the 
child's specific disease. As such, it is nearly impossible for children 
to get access or insurance coverage for these drugs. This bill makes 
that access possible by requiring Medicaid to cover the cost of 
treatment in the event that the children's health insurance does not.
  On occasion, insurers will cover the cost of the treatment for these 
children if they have adequate insurance and the FDA has approved the 
drug for off-label uses. More often then not, however, children do not 
have health insurance, or have insufficient insurance to obtain these 
drugs. As a result, children suffer their diseases without relief from 
the treatment as established in the clinical NIH studies. To ensure 
that these children have access to successful care post-study, Nino's 
Act requires Medicaid to cover the cost of treatment for these 
children. While Medicaid access is traditionally based on income, due 
to the importance of these drugs to the child's well-being the income 
component will be waived. To ensure Medicaid is not unnecessarily 
covering medication, Nino's Act requires the physicians participating 
in the research to certify the treatment as successful and essential.
  This important issue was introduced to me by Lori Todaro of Newville, 
PA. Lori's son Nino suffers from Undifferentiated Auto-Inflammatory 
Periodic Fever Syndrome. This disease takes a devastating toll on those 
who suffer from it. The auto-inflammatory

[[Page S976]]

disease can cause joint inflammation arthritis, Crohns, colitis, 
irritable bowel syndrome, and cyclical high fevers. Treatment for 
Periodic Fever Syndrome is experimental at best; Lori and Nino have 
visited a number of doctors and tried many medications in an effort to 
control the disease.
  In 2003, Nino was fortunate to be selected to take part in an 
observational study at NIH in Bethesda, Maryland for Undifferentiated 
Auto-inflammatory Periodic Fever Syndrome. During the course of the 
study, Nino was given a new medication and his condition greatly 
improved. Before he participated in the study he was being fitted for 
wheelchairs and was home schooled because his symptoms were so 
disruptive and unpredictable. The NIH treatment allowed him to resume a 
normal life and enabled him to attend school and play soccer. While 
Nino's treatment was successful he could not remain part of the study 
indefinitely and was encouraged to seek coverage for his treatments 
through his private insurer. Initially, the Todaro's insurer would not 
agree to cover the cost of the experimental drug and only after an 
intense lobbying effort by Lori, did the insurer agree to cover Nino's 
prescriptions.
  Nino's story is a successful one, but also serves to highlight the 
issue that children and their families are facing as they transition 
out of NIH studies. For many, NIH trials are a source of hope for 
relief from the worst diseases known to man. The excellent doctors and 
research teams at NIH make invaluable contributions to our 
understanding of complex and debilitating diseases. This legislation 
seeks to amplify the NIH's contributions by allowing America's sickest 
children to continue their successful treatment under Medicaid 
coverage. I encourage my colleagues to work with Senator Casey and me 
to move this legislation forward promptly.
  Mr. President, I ask unanimous consent that the text of the bill be 
printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 2629

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Nino's Act''.

     SEC. 2. MEDICAID COVERAGE OF DRUGS PRESCRIBED FOR RESEARCH 
                   STUDY CHILD PARTICIPANTS.

       (a) Mandatory Coverage if State Provides Drug Coverage.--
       (1) State plan requirement.--Section 1902(a) of the Social 
     Security Act (42 U.S.C. 1396a(a)) is amended--
       (A) in paragraph (69), by striking ``and'' at the end;
       (B) in paragraph (70), by striking the period at the end 
     and inserting ``; and''; and
       (C) by inserting after paragraph (70) the following new 
     paragraph:
       ``(71) in the case of a State plan that provides medical 
     assistance for prescribed drugs under section 1905(a)(12), 
     provide for such medical assistance to include coverage for 
     any drug, biological product, or insulin prescribed for a 
     child (including any such drug, product, or insulin that is 
     self-administered) who--
       ``(A) is eligible for medical assistance under the State 
     plan (including a child who is eligible only on the basis of 
     paragraph (10)(A)(i)(VIII));
       ``(B) is a current or former participant in a research 
     study conducted or funded (in whole or in part) by the 
     National Institutes of Health; and
       ``(C) satisfies the requirements of subparagraphs (B), (C), 
     and (D) of subsection (dd)(1).''.
       (2) Mandatory coverage of drugs of research study child 
     participants who are not otherwise eligible for medicaid if 
     the state offers drug coverage.--
       (A) In general.--Section 1902(a)(10)(A)(i) of the Social 
     Security Act (42 U.S.C. 1396b(a)(10)(A)(i)) is amended--
       (i) in subclause (VI), by striking ``or'' at the end;
       (ii) in subclause (VII), by adding ``or'' at the end; and
       (iii) by adding at the end the following new subclause:

       ``(VIII) who are research study child participants 
     described in subsection (dd)(1), but only if the medical 
     assistance made available by the State includes prescribed 
     drugs under section 1905(a)(12),''.

       (B) Group described.--Section 1902 of the Social Security 
     Act (42 U.S.C. 1396a) is amended by adding at the end the 
     following new subsection:
       ``(dd)(1) Research study child participants described in 
     this subsection are individuals who--
       ``(A) are not otherwise eligible for medical assistance 
     under the State plan;
       ``(B) have not attained age 19;
       ``(C) have been certified by a physician participating in a 
     research study conducted or funded (in whole or in part) by 
     the National Institutes of Health to be current or former 
     participants in such trial or study who have a specific 
     disease or condition that--
       ``(i) is or has been successfully treated under such trial 
     or study with a prescribed use of a drug, biological product, 
     or insulin that is not approved under the Federal Food, Drug, 
     and Cosmetic Act; and
       ``(ii) is likely to continue to be successfully treated 
     with such drug, product, or insulin; and
       ``(D) do not have other health coverage for such drug, 
     product, or insulin.
       ``(2) A State shall redetermine not less than every 2 years 
     the eligibility of an individual for medical assistance who 
     is eligible solely on the basis of subsection 
     (a)(10)(A)(i)(VIII).
       ``(3) For purposes of this subsection and paragraphs 
     (10)(A)(i)(VIII) and (71) of subsection (a), the term 
     `research study' means a clinical study, including an 
     observational (or natural history) study, or a clinical 
     trial, to test an experimental therapy.''.
       (C) Medical assistance limited to coverage of the research 
     or observational trial drugs, biological product, or 
     insulin.--Section 1902(a)(10) of the Social Security Act (42 
     U.S.C. 1396a(a)(10)) is amended in the matter following 
     subparagraph (G)--
       (i) by striking ``and (XIV)'' and inserting ``(XIV)''; and
       (ii) by inserting ``, and (XV) the medical assistance made 
     available to a research study child participant described in 
     subsection (dd)(1) who is eligible for medical assistance 
     solely on the basis of subparagraph (A)(10)(i)(VIII) shall be 
     limited to medical assistance for a drug, biological product, 
     or insulin that is prescribed for the participant as a result 
     of participation in such trial or study (including any such 
     drug, product, or insulin that is self-administered)'' before 
     the semicolon.
       (D) Conforming amendment.--Section 1903(f)(4) of such Act 
     (42 U.S.C. 1396b)(f)(4)) is amended in the matter preceding 
     subparagraph (A) by inserting ``1902(a)(10)(A)(i)(VIII),'' 
     after ``1902(a)(10)(A)(i)(VII),''.
       (b) Presumptive Eligibility.--Section 1920B of the Social 
     Security Act (42 U.S.C. 1396r-1b) is amended--
       (1) in the section heading, by inserting ``or research 
     study child participants'' after ``patients'';
       (2) in subsection (a), by inserting ``or a child who is 
     eligible for medical assistance under the State plan 
     (including a child who is eligible only on the basis of 
     section 1902(a)(10)(A)(i)(VIII) but subject to the limitation 
     on medical assistance for such a child under clause (XV) of 
     the matter following section 1902(a)(10)(G)), is a current or 
     former participant in a research study conducted or funded 
     (in whole or in part) by the National Institutes of Health, 
     and satisfies the requirements of subparagraphs (B), (C), and 
     (D) of section 1902(dd)(1)'' after ``patients)'';
       (3) in subsection (b)(1)(A), by inserting ``or subsection 
     (a)'' after ``1902(aa)''; and
       (4) in subsection (d), in the flush language following 
     paragraph (2), by striking ``for purposes of clause (4) of 
     the first sentence of section 1905(b)'' and inserting ``for 
     purposes of the first sentence of section 1905(b) (and, in 
     the case of medical assistance furnished to an individual 
     described in section 1902(aa), for purposes of clause (4) of 
     such sentence)''.
       (c) Notice of Medicaid Coverage for Research Study Child 
     Participants.--
       (1) In general.--Not later than 90 days after the date of 
     enactment of this Act, the Secretary of Health and Human 
     Services, in consultation with the Director of the Institutes 
     of Health and State Medicaid Directors, shall--
       (A) develop a written notice for child participants in 
     research studies (as defined in section 1902(dd)(3) of the 
     Social Security Act, as added by subsection (a)(2)(B)) 
     conducted or funded (in whole or in part) by the National 
     Institutes of Health who are likely to eligible for medical 
     assistance for a drug, biological product, or insulin 
     prescribed for such participants as a result of participation 
     in such a study (including any such drug, product, or insulin 
     that is self-administered) in accordance with paragraph 
     (10)(A)(i)(VIII) or (71) of section 1902(a) of the Social 
     Security Act (42 U.S.C. 1396a(a)) (as added by subsection 
     (a)), of the availability of such assistance; and
       (B) establish procedures for making such notice available 
     to the child participants through physicians participating in 
     such research studies or such other means as the Secretary 
     determines appropriate.
       (2) Authorization of appropriations.--There is authorized 
     to be appropriated for fiscal year 2008 and each fiscal year 
     thereafter such sums as may be necessary to carry out this 
     subsection.
       (d) Effective Date.--The amendments made by this section 
     apply to medical assistance for items and services furnished 
     on or after the date of enactment of this Act, without regard 
     to whether final regulations to carry out such amendments 
     have been promulgated.

  Mr. CASEY. Mr. President, I rise today to speak about a critical 
health issue affecting thousands of our children every day but about 
which few people have ever even heard. All across this country, 
thousands of children suffer from rare genetic diseases called ``orphan 
diseases,'' thus named because

[[Page S977]]

of the relatively small number of people these diseases strike.
  An orphan disease is defined as affecting fewer than 200,000 people. 
The National Institutes of Health, NIH, estimate that there are 
approximately 6,000 of these orphan diseases, affecting about 25 
million Americans on the whole. Most of these rare diseases are genetic 
and many affect children.
  Last spring, I met with a group of mothers who shared their struggles 
and frustrations in getting ongoing and consistent treatment for their 
children, each of whom suffers from an orphan disease. Many of these 
parents had been able to enroll their children in clinical trials at 
the NIH and had found experimental treatments for their children that 
had proven extremely successful. The doctors at NIH do miraculous work 
in finding treatments for children with rare genetic diseases. But 
oftentimes, when the trial ends, these children and parents are left on 
their own, with no access to the previously free and effective 
treatment that their children were getting.
  Imagine if you can, for one moment, the predicament of these children 
and their parents? After months and sometimes years of first not 
knowing what was ailing their sick children, desperately seeking help, 
then finally getting a diagnosis, only to find out that there was no 
FDA approved treatment. Then after searching for some kind of treatment 
and then finally, finally finding--and being admitted to--a clinical 
trial on medication that miraculously gave their children the ability 
to function like other kids--to be able to play soccer and go to school 
and have friends over and just have the energy to be a child. For all 
of us who are parents, you can imagine the joy of seeing your child 
finally alleviated from the suffering he or she has been going through, 
finally able to enjoy him- or herself and do all the things that 
children are supposed to do.

  Then imagine, if you can, what it would be like to suddenly have that 
taken away. The clinical trial ends, or funding for the trial ends. 
Suddenly, you no longer have access to this drug that your child needs 
to be able to function, to do their homework, eat well and have fun. If 
it is a drug that has not been approved by the Food and Drug 
Administration or specifically approved for a child's particular 
disease, then insurance companies typically will not cover it because 
the treatment is considered ``experimental.'' In some cases, a drug has 
been approved for other uses than the orphan disease, known as ``off-
label'' use. If a family has enough insurance, and there is off-label 
FDA approval, sometimes families can get coverage of the drugs. If not, 
the resulting cost to families is astronomical--ranging anywhere from 
$10,000 to $30,000 per month.
  This is what happened to Nino Todaro, a young boy from Newville, 
Pennsylvania, and that is why Senator Specter and I are today 
introducing Nino's Act. Nino suffers from Periodic Fever Syndrome, an 
unpredictable genetic condition that can cause uncontrolled 
inflammation throughout the body. When this disease acts up, Nino has 
days where he cannot do much more than lie on the couch. Left 
untreated, this condition could leave Nino unable to walk and even be 
life-threatening. Fortunately Nino found help through an NIH clinical 
trial, but funding ran out last year. The drug that returned Nino to a 
joyous soccer-playing kid was approved for arthritis and Crohn's 
disease, but not Periodic Fever Syndrome. Facing costs of $12,000 a 
month, and initial rejections from their insurance company, Nino's 
parents turned to Congress.
  Nino's Act will allow children to transition out of successful 
treatment in NIH studies without a gap in treatment. There are 
thousands of children like Nino across this country who desperately 
need the continuity of ongoing successful treatment for their rare 
disorders. These are children who have been very ill, sometimes 
incapacitated, and have been able to resume normal childhoods through 
successful drug treatment. Parents advocating for their children 
understandably refuse to accept that their children have no choice but 
to regress because their insurance company will not cover humongous 
medical bills that no middle class family could even begin to absorb.

  No parent should ever have to face a situation in which the care they 
need for their seriously ill child is too expensive or held up by 
regulatory red tape. It is unthinkable to me that any ill child in this 
country, the richest nation on earth, with all our medical 
advancements, should ever be denied medical treatment that is available 
and proven successful. Our bill will give these children and their 
parents peace of mind that when a study ends, their children's 
successful ongoing treatment will not be threatened. To address this, 
Nino's Act will require Medicaid to cover the cost of treatment of in 
the event that a child's health insurance does not.
  This is the least we can do for these children and families. No child 
for whom treatment is available should have to forego that treatment to 
the serious detriment of their health. That is just plain wrong. 
Senator Specter and I share the belief that ensuring ongoing treatment 
for children with rare disorders is something this Congress should get 
behind. I urge my colleagues to support Nino's Act and I will work hard 
for its passage. My hope is it will go a long way toward ensuring that 
children with orphan diseases can get the successful treatment they 
deserve, freeing them and their families to focus on what is truly 
important--keeping them well, and living out happy and productive 
lives.
                                 ______
                                 
      By Mr. KENNEDY (for himself, Mr. Stevens, Mr. Kerry, and Ms. 
        Murkowski):
  S. 2630. A bill to amend the Public Health Service Act to establish a 
Federal grant program to provide increased health care coverage to and 
access for uninsured and underinsured workers and families in the 
commercial fishing industry, and for other purposes; to the Committee 
on Health, Education, Labor, and Pensions.
  Mr. KENNEDY. Mr. President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 2630

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Commercial Fishing Industry 
     Health Care Coverage Act of 2008''.

     SEC. 2. GRANTS FOR QUALIFIED COMMERCIAL FISHING INDUSTRY 
                   HEALTH CARE COVERAGE DEMONSTRATION PROGRAMS.

       Part B of title III of the Public Health Service Act (42 
     U.S.C. 243 et seq.) is amended by adding at the end the 
     following new section:

     ``SEC. 320B. GRANTS FOR QUALIFIED COMMERCIAL FISHING INDUSTRY 
                   HEALTH CARE COVERAGE DEMONSTRATION PROGRAMS.

       ``(a) Establishment of Program.--
       ``(1) In general.--The Secretary, through the Health 
     Resources and Services Administration, shall establish a 
     grant program (in this section referred to as the `grant 
     program') for the purpose of assisting commercial fishing 
     States to establish, or strengthen existing, programs to 
     expand health care coverage and access for uninsured or 
     underinsured workers and their families in the commercial 
     fishing industry.
       ``(2) Types of grants.--Under the grant program, the 
     Secretary shall provide--
       ``(A) program planning grants under subsection (b) for 
     commercial fishing States and organizations within such 
     States; and
       ``(B) implementation and administration grants under 
     subsection (c) for no more than 15 commercial fishing States.
       ``(3) Application required.--No grant may be awarded under 
     this section except pursuant to an application that is made 
     in such form and manner, and containing such information, as 
     the Secretary may require.
       ``(b) Program Planning Grants.--
       ``(1) In general.--Under the grant program the Secretary 
     may award grants to one or more commercial fishing States (or 
     to organizations with a history of active involvement in the 
     commercial fishing industry in such a State, including 
     knowledge of economic and social aspects of such industry), 
     not to exceed $200,000 for each year and for no more than two 
     years, to conduct initial research and planning for the 
     development of a qualified health care coverage program in 
     the State. Any grantee under this subsection shall--
       ``(A) conduct a demographic survey of the State's 
     commercial fishing industry and such industry's health care 
     needs; and
       ``(B) develop a strategic plan, including a detailed 
     financial plan, for implementation of a qualified health care 
     coverage program within the State.
       ``(2) Consultation with states.--Before awarding a grant 
     under this subsection to an organization, the Secretary shall 
     consult with States where the organization is located in 
     order to assist in a determination as to whether the 
     organization--

[[Page S978]]

       ``(A) has the necessary familiarity with and knowledge of 
     the commercial fishing industry in the State to fulfill the 
     purposes of the grant; and
       ``(B) has a history of fraudulent or abusive practices that 
     would disqualify the organization from carrying out the 
     grant.
       ``(3) Actions following completion of planning grants.--
     Based on the research findings, financial plan, and other 
     recommendations developed by the State or organization under 
     paragraph (1), a State may submit an application for program 
     implementation and administration grants under subsection 
     (c).
       ``(c) Implementation and Program Administration Grants.--
       ``(1) In general.--Under the grant program, subject to the 
     succeeding provisions of this subsection, the Secretary may 
     award the following grants to commercial fishing States:
       ``(A) Initial implementation grants.--A grant, not to 
     exceed $2,000,000 for each year and for no more than two 
     years, for initial implementation of a qualified health care 
     coverage program.
       ``(B) Program administration grants.--A grant, not to 
     exceed $3,000,000 for each year and for no more than five 
     years, for administration of a qualified health care coverage 
     program.
       ``(C) Continued administration grants.--A grant, not to 
     exceed $3,000,000 for each year, for continued administration 
     of a qualified health care coverage program in a State that 
     has been awarded administration grants for 5 years under 
     subparagraph (B) and that has satisfactorily administered 
     such program using the funds provided by such grants for at 
     least 5 years, if the economic conditions of the fishing 
     industry in the program's service area (or the condition of 
     fish stocks that are important to the fishing industry in 
     such area) jeopardize the ability of the program to continue 
     providing affordable health care coverage.
     A grant may be made for a qualified health care coverage 
     program under subparagraph (A) or (B) regardless of whether 
     or not the program was developed with a program planning 
     grant under subsection (b) or was implemented under a grant 
     under subparagraph (A), respectively, and regardless of 
     whether the program was developed or initially implemented 
     before the date of the enactment of this section.
       ``(2) Eligibility requirements.--The Secretary may not 
     award a grant under this subsection to a commercial fishing 
     State for implementation or administration of a health care 
     coverage program unless--
       ``(A) the State demonstrates that the program--
       ``(i) is a qualified health care coverage program and 
     enrolls fishing industry members and their families if they 
     were uninsured or underinsured; and
       ``(ii) requires Federal funding for its operation; and
       ``(B) the State provides assurances satisfactory to the 
     Secretary that--
       ``(i) if the program is an expansion of an existing health 
     care coverage program, the State will use the grant funding 
     to expand the enrolled population of uninsured or 
     underinsured commercial fishing industry members and their 
     families, or modify coverage to comply with qualified health 
     care coverage, under the program and to supplement, and not 
     supplant, State provided funding for such program; or
       ``(ii) if the program is a new qualified health care 
     coverage program, the State will ensure the program's 
     continued success through the implementation of appropriate 
     financial and consumer protection regulations, controls, 
     licensing, or oversight policies, including (as determined by 
     the State) any of the following:

       ``(I) Protection against insolvency, fraud and abuse.
       ``(II) State-based stop-loss protection.
       ``(III) Reinsurance.
       ``(IV) Receivership/liquidation protection against 
     insolvency for individuals.
       ``(V) Another demonstration of State financial commitment.

       ``(3) Requirement of matching funds.--
       ``(A) In general.--A grant may be made under this 
     subsection only if the State agrees to make available 
     (directly or through donations from public or private 
     entities) non-Federal contributions toward such costs in an 
     amount that is not less than $1 for each $2 of Federal funds 
     provided in the grant.
       ``(B) Determination of amount contributed.--Non-Federal 
     contributions required in subparagraph (A) may be in cash or 
     in kind, fairly evaluated, including plant, equipment, or 
     services. Amounts provided by the Federal Government, or 
     services assisted or subsidized to any significant extent by 
     the Federal Government, may not be included in determining 
     the amount of such non-Federal contributions.
       ``(4) Contracting authority.--
       ``(A) In general.--A commercial fishing State may enter 
     into a contract with one or more eligible non-profit 
     organizations or companies for the purpose of conducting 
     activities under an implementation or administration grant 
     under this subsection and may not enter into such a contract 
     with an organization or company which is not eligible under 
     subparagraph (C).
       ``(B) Subcontracting arrangements.--A contractor described 
     in subparagraph (A) may subcontract with one or more eligible 
     non-profit organizations or companies for the purpose of 
     conducting activities under such an implementation or 
     administration grant, if the State approves such 
     subcontracting arrangements.
       ``(C) Eligibility standards.--The Secretary shall issue 
     regulations establishing eligibility standards for 
     organizations and companies under this paragraph. Such 
     standards shall include requirements that States review 
     whether prospective contractors or subcontractors under this 
     paragraph--
       ``(i) have a history of fraudulent or abusive practices 
     that would disqualify them from participating in a contract 
     or subcontract;
       ``(ii) have the capability and experience to assist in the 
     management of a qualified health care coverage program; and
       ``(iii) in the case of commercial fishing organizations, 
     have an appropriate level of familiarity with, and knowledge 
     of, the commercial fishing industry.
       ``(d) Definitions.--For purposes of this section:
       ``(1) Commercial fishing state.--The term `commercial 
     fishing State' means a State (as defined in section 2(f)) 
     with a significant commercial fishing population or a 
     significant commercial fishing industry. The Secretary shall 
     accept a State's self-certification that it is a commercial 
     fishing State if the State demonstrates to the Secretary 
     that--
       ``(A) such self-certification is based on consultation by 
     the State with local organizations familiar with the 
     commercial fishing industry in the State; and
       ``(B) the State has a significant commercial fishing 
     population or a significant commercial fishing industry.
       ``(2) Commercial fishing industry member.--The term 
     `commercial fishing industry member' means a fisherman, 
     crewmember, boat owner, captain, shore side business owner, 
     employee of a company that provides shore side support, 
     harvester, or other individual performing commercial fishing 
     industry-related work, if more than half of such individual's 
     income derives from such work at the time the individual 
     enrolls in a qualified health care coverage program.
       ``(3) Qualified health care coverage program.--The term 
     `qualified health care coverage program' means a program that 
     provides qualified health care coverage to commercial fishing 
     industry members and their families consistent with the 
     following:
       ``(A) Eligibility for enrollment of such members and 
     families is only restricted by capacity, based on a first 
     come, first served basis when space is limited, and health 
     status related factors (as defined in section 2702), age, and 
     gender may not be used as a basis for determining 
     eligibility.
       ``(B) The program does not include any preexisting 
     condition exclusion (as defined in section 2701) or any 
     coverage elimination rider that permanently excludes from 
     coverage an existing medical condition.
       ``(C) Premium rates under the program are computed based on 
     a community rate, and may be adjusted only for income and 
     family size.
       ``(4) Qualified health care coverage.--The term `qualified 
     health care coverage' means coverage that meets any of the 
     following conditions:
       ``(A) FEHBP coverage.--The coverage is actuarially 
     equivalent to the coverage provided under the health benefits 
     plan, under chapter 89 of title 5, United States Code, which 
     has the largest enrollment, either in the United States or in 
     the State involved.
       ``(B) State employees coverage.--The coverage is 
     actuarially equivalent to the coverage provided under the 
     health benefits plan, that is offered by the State to State 
     government employees, which has the largest enrollment of 
     such plans in the State.
       ``(e) Authorization of Appropriations.--There are 
     authorized to be appropriated to the Secretary for the 
     purpose of carrying out this section--
       ``(1) $5,000,000 for fiscal year 2009;
       ``(2) $5,000,000 for fiscal year 2010;
       ``(3) $10,000,000 for fiscal year 2011;
       ``(4) $10,000,000 for fiscal year 2012; and
       ``(5) $20,000,000 for fiscal year 2013.''.

  Mr. STEVENS. Mr. President, I come to the floor to support the 
Commercial Fishing Industry Healthcare Coverage Act of 2008. My good 
friend Senator Kennedy and I, along with Senators Kerry and Murkowski, 
are introducing this bill to improve healthcare options for our 
Nation's fishermen and fishing families.
  Few things are more Alaskan than fishing. Long before Alaska was even 
a U.S territory, our people were fishing for their livelihood. The 
first Alaskans, Alaska Natives depended on subsistence fishing, as many 
do today. Russian settlers built salteries to preserve their catch 
through our long, harsh winters. In the 1800s, the first canneries were 
built in Sitka and Klawock, marking the birth of Alaska's modern 
commercial fishing industry.
  Today, Alaska's seafood industry is the State's largest private 
employer and a fundamental part of Alaskan culture. All around our 
State, from Ketchikan, at the Southern end of the panhandle, to 
Kotzebue, above the Arctic Circle, fishermen brave the elements so all 
Americans may enjoy the bounty of Alaskan waters. Their work is vital 
to the economies of numerous communities in our State.

[[Page S979]]

  While Alaskans have fishing in their blood, skyrocketing costs have 
made it increasingly difficult for these hard-working men and women to 
earn a living. One of the major challenges our commercial fishermen 
face is obtaining affordable healthcare.
  The problem is not unique to my State. Lack of health coverage is a 
dilemma for fishermen in other coastal States. Surveys conducted in 
different parts of the country show fishing families are significantly 
more likely to be uninsured than other Americans.
  The commercial fishing industry produces billions of dollars for the 
U.S. economy each year. Despite their contributions, the seasonal and 
dangerous nature of their profession bars many commercial fishermen 
from obtaining health insurance; most work for themselves or for small 
employers. Fishermen are forced to pay high premiums and deductibles, 
which can effectively put health insurance out of reach.
  In my State, fishermen face additional complications when looking for 
affordable health insurance. A study by the United Fishermen of Alaska 
found that our fishermen are more likely to work and live in 
communities without a hospital. Also, fewer private insurance companies 
offer individual or small business medical coverage in Alaska than in 
other States. And, most fishermen simply cannot afford the rates 
charged by these providers.
  That lack of basic health services impacts everyone in our fishing 
fleet, from our older fishermen, who may be most in need of health 
coverage, to the younger generation of fishermen, who find the lack of 
affordable healthcare a barrier to entering the profession.
  As one fisherman from Juneau put it:

       I've applied with two different major health insurance 
     providers, and both have declined me coverage because of my 
     occupation . . . living and working without health insurance 
     is like living on borrowed time. I constantly feel I am 
     pushing my luck, and a single illness or injury could mean 
     bankruptcy for me.

  With the high cost of individual health insurance and the lack of 
proximity to healthcare facilities in Alaska families are less likely 
to seek preventive care, resulting in medical emergencies that could 
have been avoided. When uninsured fishermen end up in emergency rooms 
with serious diseases and injuries, taxpayers often absorb the costs.
  Our bill is inspired by the successful fishermen's healthcare plan 
adopted by Senator Kennedy's home State of Massachusetts, which has 
proven that health insurance can be made affordable for fishing 
families. This legislation will establish a grant program to help 
States and fishing organizations create and administer group health 
insurance programs for fishermen and fishing families.
  Americans are consuming more and more seafood as they discover its 
great taste and considerable health benefits. We cannot forget where 
these fish come from. They come from the labor of men and women working 
up and down the coasts of this country, many struggling to earn a 
living and preserve a tradition that has spanned generations.
  This measure would help put affordable medical care within their 
reach. I encourage my fellow Senators to support the bill.
                                 ______
                                 
      By Mrs. FEINSTEIN (for herself, Mr. McConnell, Mr. Akaka, Mr. 
        Alexander, Mr. Barrasso, Mr. Baucus, Mr. Bayh, Mr. Bennett, Mr. 
        Biden, Mr. Bingaman, Mr. Bond, Mrs. Boxer, Mr. Brown, Mr. 
        Brownback, Mr. Bunning, Mr. Burr, Mr. Byrd, Ms. Cantwell, Mr. 
        Cardin, Mr. Casey, Mr. Chambliss, Mrs. Clinton, Mr. Coburn, Mr. 
        Coleman, Ms. Collins, Mr. Cornyn, Mr. Craig, Mr. Dodd, Mrs. 
        Dole, Mr. Domenici, Mr. Durbin, Mr. Ensign, Mr. Feingold, Mr. 
        Gregg, Mr. Hagel, Mr. Harkin, Mrs. Hutchison, Mr. Inhofe, Mr. 
        Inouye, Mr. Isakson, Mr. Johnson, Mr. Kennedy, Mr. Kerry, Ms. 
        Klobuchar, Mr. Kohl, Mr. Kyl, Ms. Landrieu, Mr. Lautenberg, Mr. 
        Leahy, Mr. Levin, Mr. Lieberman, Mrs. Lincoln, Mr. Lugar, Mr. 
        Martinez, Mr. McCain, Mrs. McCaskill, Mr. Menendez, Ms. 
        Mikulski, Ms. Murkowski, Mrs. Murray, Mr. Obama, Mr. Pryor, Mr. 
        Reed, Mr. Roberts, Mr. Salazar, Mr. Sanders, Mr. Schumer, Mr. 
        Smith, Ms. Snowe, Mr. Specter, Ms. Stabenow, Mr. Stevens, Mr. 
        Sununu, Mr. Voinovich, and Mr. Whitehouse):
  S. 2631. A bill to award a congressional gold medal to Daw Aung San 
Suu Kyi in recognition of her courageous and unwavering commitment to 
peace, nonviolence, human rights, and democracy in Burma; to the 
Committee on Banking, Housing, and Urban Affairs.
  Mrs. FEINSTEIN. Mr. President, I rise today with my good friend and 
colleague, Senator McConnell, to introduce the Aung San Suu Kyi 
Congressional Gold Medal Act of 2008.
  We are proud to be joined by 73 of our colleagues in sponsoring this 
measure to award the Congressional Gold Medal to a woman who has 
inspired us all with her commitment to nonviolence, democracy, human 
rights, and the rule of law for the people of Burma. On December 17, 
2007, the House voted 400-0 to award Suu Kyi this honor and we urge the 
Senate to promptly follow suit.
  Last September we witnessed the largest democratic demonstrations in 
Burma in almost 20 years. Tens of thousands of Burmese citizens took to 
the streets in peaceful demonstrations to speak out against the 
country's oppressive military regime, and to cry out for democracy.
  I watched these courageous people with a deep sense of admiration and 
respect.
  Led by respected Buddhist monks, the people of the ``Saffron 
Revolution'' called on the military junta to release all political 
prisoners, including Nobel Peace Prize Laureate Aung San Suu Kyi, and 
engage in a true dialogue on national reconciliation. Yet, as it had in 
the past, the military junta responded to the recent peaceful protests 
with violence and bloodshed. Soldiers used brutal force to break up the 
protests, beating and sometimes killing innocent civilians.
  No amount of force, however, can crush the spirit of Aung San Suu Kyi 
and her peaceful quest for democracy and human rights. Indeed, she is a 
woman of unrivaled courage. In the face of threats, intimidation, 
harassment, and an assassination attempt, she has never wavered from 
her principles and continues to support national reconciliation for all 
the people of Burma.
  By introducing this legislation, we seek not only to honor a 
remarkable woman who embodies the values and standards of the 
Congressional Gold Medal, but also to raise our voices once again in 
support of her cause which is our cause: a free and democratic Burma.
  By now, her story is well known. Aung San Suu Kyi was born on June 
19, 1945, in Rangoon to Aung San, commander of the Burma Independence 
Army, and Ma Khin Kyi. In August 1988, Suu Kyi, in her first political 
action, sent an open letter to the military-controlled government, 
asking for free, open and multi-party elections. The following month, 
she founded the National League for Democracy, which remains dedicated 
to a policy of nonviolence and civil disobedience. Suu Kyi was named 
its general-secretary.
  Recognizing the threat Suu Kyi posted to their grip on power, the 
Burmese junta had her placed under house arrest and held without 
charges or trial. Yet, despite the best efforts of the military junta 
to suppress the growing democratic movement, in 1990 the National 
League for Democracy won 82 percent of the seats in parliamentary 
elections. But the junta annulled the election results and refused to 
release Suu Kyi.
  Since then, the Burmese regime--now called the State Peace and 
Development Council--has refused to engage in a national dialogue with 
Suu Kyi and the democratic opposition, and intensified its campaign of 
oppression and abuse. In 2003, pro-government thugs attempted to 
assassinate Su Kyi and other members of the National League for 
Democracy as they rode in a motorcade in the northern city of Depayin.
  Last May, the military junta renewed her house arrest for another 
year. In fact, for most of the past 18 years, she has remained 
imprisoned or under house arrest, alone without

[[Page S980]]

minimal contact with the outside world.
  Yet, as in 1990, the regime has once again failed to stamp out Suu 
Kyi's message of democracy, human rights, non-violence and the rule of 
law. She continues to inspire not only the people of Burma but the 
entire world. Indeed, Suu Kyi's commitment to freedom and democracy has 
been widely recognized.
  In 1990, Suu Kyi was awarded the Sakharov Prize for Freedom of 
Thought by the European Parliament. The prize honors efforts on behalf 
of human rights and fundamental freedoms, and in opposition to 
injustice and oppression. It is named for the late Andrei Sakharov, the 
Soviet dissident and Nobel Peace Prize winner.
  In 1991, Suu Kyi was awarded the Nobel Peace Prize for her commitment 
to nonviolence and support for freedom and democracy for Burma. She was 
not allowed to attend the ceremony. In its recommendation, the Nobel 
Committee wrote:

       In the good fight for peace and reconciliation, we are 
     dependent on persons who set examples, persons who can 
     symbolize what we are seeking and mobilize the best in us. 
     Aung San Suu Kyi is just such a person. She unites deep 
     commitment and tenacity with a vision in which the end and 
     the means form a single unit. Its most important elements 
     are: democracy, respect for human rights, reconciliation 
     between groups, non-violence, and personal and collective 
     discipline.

  Suu Kyi donated her $1.3 million in prize money to establish a health 
and education fund for Burma. She is the world's only imprisoned Nobel 
Peace Prize recipient.
  In 2000, Suu Kyi was awarded the Presidential Medal of Freedom, the 
Nation's highest civilian award, by President Bill Clinton.
  Last year, 45 U.S. Senators signed a letter to United Nations 
Secretary General Ban ki-Moon urging him to get personally involved in 
pressing for Suu Kyi's release.
  In letter addressed to the State Peace and Development Council, a 
distinguished group of 59 former heads of state--including former 
Filipino president Corazon Aquino, former Czech president Vaclav Havel, 
former British prime minister John Major and former Presidents Bill 
Clinton, Jimmy Carter, and George H.W. Bush--called for the regime to 
release Aung San Suu Kyi. They correctly noted that ``Aung San Suu Kyi 
is not calling for revolution in Burma, but rather peaceful, nonviolent 
dialogue between the military, National League for Democracy, and 
Burma's ethnic groups.''
  It is only fitting, that Congress join this international chorus in 
support of Aung San Suu Kyi and award her the Congressional Gold Medal.
  As a U.S. Senator, I have worked hard to raise awareness about the 
situation in Burma and pass legislation to put pressure on the military 
junta to release Suu Kyi and begin a true dialogue on national 
reconciliation. In 1997, former Senator Bill Cohen and I authored 
legislation requiring the President to ban new U.S. investment in Burma 
if he determined that the Government of Burma had physically harmed, 
rearrested or exiled Aung San Suu Kyi or committed large-scale 
repression or violence against the Democratic opposition. President 
Clinton issued the Executive Order in 1997 and the ban remains on the 
books today.
  In 2003, after the regime attempted to assassinate Aung San Suu Kyi, 
Senator McConnell and I introduced the Burmese Freedom and Democracy 
Act of 2003 which placed a complete ban on imports from Burma. It 
allowed that ban to be renewed one year at a time for up to 3 years. It 
was signed into law and has been renewed one year at a time for each of 
the past 4 years.
  Last year, the women of the United States Senate came together to 
form the Women's Caucus on Burma to express our solidarity with Suu 
Kyi, call for her immediate release, urge the United Nations to pass a 
binding resolution on Burma. At our inaugural event, we were pleased to 
be joined by First Lady Laura Bush who added her own voice to those 
calling for peace and democracy in Burma. Our message is clear: We will 
not remain silent, we will not stand still until Aung San Suu Kyi and 
all political prisoners are released and democratic government is 
restored in Burma.
  This legislation is but one small step on the path to that goal. I 
remain hopeful that the military regime will heed the will of its 
people and the international community and we will be able to present 
Aung San Suu Kyi with this honor in person.
  I urge my colleagues to support this legislation.
  Mr. President, I ask unanimous consent that the text of the bill be 
printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 2631

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. FINDINGS.

       The Congress finds as follows:
       (1) Aung San Suu Kyi was born on June 19, 1945, in Rangoon, 
     Burma, to Aung San, commander of the Burma Independence Army, 
     and Ma Khin Kyi.
       (2) On August 15, 1988, Ms. Suu Kyi, in her first political 
     action, sent an open letter to the military controlled 
     government asking for free, open, and multi-party elections.
       (3) On September 24, 1988, the National League for 
     Democracy (NLD) was formed, with Ms. Suu Kyi as the general-
     secretary, and it was, and remains, dedicated to a policy of 
     non-violence and civil disobedience.
       (4) Ms. Suu Kyi was subsequently placed under house arrest, 
     where she remained for the next 6 years--without being 
     charged or put on trial--and has been imprisoned twice more; 
     she currently remains under house arrest.
       (5) Despite her detention, the National League for 
     Democracy won an open election with an overwhelming 82 
     percent of the vote--which the military junta nullified.
       (6) While under house arrest, she has bravely refused 
     offers to leave the country to continue to promote freedom 
     and democracy in Burma.
       (7) For her efforts on behalf of the Burmese people, she 
     has been awarded the Sakharov Prize for Freedom of Thought in 
     1990, the Presidential Medal of Freedom in 2000, and the 
     Nobel Peace Prize in 1991.
       (8) Ms. Suu Kyi continues to fight on behalf of the Burmese 
     people, even donating her $1.3 million from her Nobel Prize 
     to establish a health and education fund for Burma.
       (9) She is the world's only imprisoned Nobel Peace Prize 
     recipient, spending more than 12 of the past 17 years under 
     house arrest.
       (10) Despite an assassination attempt against her life, her 
     prolonged illegal imprisonment, the constant public 
     vilification of her character, and her inability to see her 
     children or to see her husband before his death, Ms. Suu Kyi 
     remains committed to peaceful dialogue with her captors, 
     Burma's military regime, and Burma's ethnic nationalities 
     towards bringing democracy, human rights, and national 
     reconciliation to Burma.

     SEC. 2. CONGRESSIONAL GOLD MEDAL.

       (a) Presentation Authorized.--The Speaker of the House of 
     Representatives and the President Pro Tempore of the Senate 
     shall make appropriate arrangements for the presentation, on 
     behalf of the Congress, of a gold medal of appropriate 
     design, to Daw Aung San Suu Kyi in recognition of her 
     courageous and unwavering commitment to peace, nonviolence, 
     human rights, and democracy in Burma.
       (b) Design and Striking.--For purposes of the presentation 
     referred to in subsection (a), the Secretary of the Treasury 
     (referred to in this Act as the ``Secretary'') shall strike a 
     gold medal with suitable emblems, devices, and inscriptions 
     to be determined by the Secretary.

     SEC. 3. DUPLICATE MEDALS.

       The Secretary may strike and sell duplicates in bronze of 
     the gold medal struck pursuant to section 2 under such 
     regulations as the Secretary may prescribe, at a price 
     sufficient to cover the cost thereof, including labor, 
     materials, dies, use of machinery, and overhead expenses, and 
     the cost of the gold medal.

     SEC. 4. STATUS OF MEDALS.

       (a) National Medals.--The medals struck pursuant to this 
     Act are national medals for purposes of chapter 51 of title 
     31, United States Code.
       (b) Numismatic Items.--For purposes of sections 5134 and 
     5136 of title 31, United States Code, all medals struck under 
     this Act shall be considered to be numismatic items.

     SEC. 5. AUTHORITY TO USE FUND AMOUNTS; PROCEEDS OF SALE.

       (a) Authority To Use Fund Amounts.--There is authorized to 
     be charged against the United States Mint Public Enterprise 
     Fund such amounts as may be necessary to pay for the costs of 
     the medals struck pursuant to this Act.
       (b) Proceeds of Sale.--Amounts received from the sale of 
     duplicate bronze medals authorized under section 3 shall be 
     deposited into the United States Mint Public Enterprise Fund.
                                 ______
                                 
      By Mr. BOND:
  S. 2632. A bill to ensure that the Sex Offender Registration and 
Notification Act is applied retroactively; to the Committee on the 
Judiciary.
  Mr. BOND. Mr. President, today, I introduce legislation to close a 
series of statutory loopholes setting free convicted sex offenders who 
failed to register and notify their communities of

[[Page S981]]

their status as required by Federal law. I was outraged recently to 
learn this was going on and I am sure you will agree that we must end 
this injustice. I urge my colleagues to join me in support of this 
legislation.
  Under the Sex Offender Registration and Notification Act, SORNA, 
passed as part of the Adam Walsh Child Protection and Safety Act of 
2006, sex of-fenders are required to register with local authorities 
and notify those authorities when they move or change jobs. However, 
judges in Michigan and Pennsylvania have freed sex offenders arrested 
for failing to register because of doubts over whether the statute 
applies to sex offenses committed prior to SORNA's implementation. A 
Missouri judge freed a noncomplying sex offender questioning whether 
provisions extending Federal jurisdiction operated retroactively.
  In the Missouri case, a Federal judge released convicted sex-offender 
Terry L. Rich after his arrest for failure to register as a sex 
offender upon moving to Kansas City 20 months ago. Mr. Rich arrived 
after a prison stint in Iowa for failing to register there based on his 
previous convictions for felony sexual abuse of a child, kidnaping, 
indecency, child molestation and felony sexual battery of a young girl. 
SORNA extends Federal jurisdiction to State sex offenders by applying 
to those who ``travel'' in interstate commerce, and Mr. Rich seemed to 
qualify by moving from Iowa to Missouri in March 2006. However, the 
judge ruled that since Mr. Rich ``traveled'' prior to SORNA's enactment 
in July 2006, he was not covered by the law's present tense ``travel'' 
requirement.
  The Pennsylvania court freed persons hiding convictions of sexual 
assault, rape, statutory rape, indecent assault and corruption of the 
morals of a 6-year-old girl. The Michigan court freed a sex offender 
who failed to register after convictions of first-degree rape and 
sodomy.
  The bill I propose closes the loopholes cited by the Missouri, 
Michigan, and Pennsylvania courts to ensure that SORNA's registration 
requirement applies to sex offenders irrespective of the date of their 
offense or date of interstate travel. These are simple fixes to the 
code, but vital to ensure that no more convicted sex offenders can hide 
in our neighborhoods.
                                 ______
                                 
      By Mr. REID:
  S. 2636. A bill to provide needed housing reform; read the first 
time.

                                S. 2636

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

       (a) Short Title.--This Act may be cited as the 
     ``Foreclosure Prevention Act of 2008''.
       (b) Table of Contents.--The table of contents for this Act 
     is as follows:

Sec. 1. Short title; table of contents.

       TITLE I--MODIFICATIONS ON USE OF QUALIFIED MORTGAGE BONDS

Sec. 101. Modifications on use of qualified mortgage bonds; temporary 
              increased volume cap for certain housing bonds.

 TITLE II--EMERGENCY ASSISTANCE FOR THE REDEVELOPMENT OF ABANDONED AND 
                            FORECLOSED HOMES

Sec. 201. Emergency assistance for the redevelopment of abandoned and 
              foreclosed homes.

                TITLE III--HOUSING COUNSELING RESOURCES

Sec. 301. Housing counseling resources.

      TITLE IV--HELPING FAMILIES SAVE THEIR HOME IN BANKRUPTCY ACT

Sec. 401. Short title.

                  Subtitle A--Minimizing Foreclosures

Sec. 411. Special rules for modification of loans secured by 
              residences.
Sec. 412. Waiver of counseling requirement when homes are in 
              foreclosure.

             Subtitle B--Providing Other Debtor Protections

Sec. 421. Combating excessive fees.
Sec. 422. Maintaining debtors' legal claims.
Sec. 423. Resolving disputes.
Sec. 424. Enacting a homestead floor for debtors over 55 years of age.
Sec. 425. Disallowing claims from violations of consumer protection 
              laws.

              TITLE V--MORTGAGE DISCLOSURE IMPROVEMENT ACT

Sec. 501. Short title.
Sec. 502. Enhanced mortgage loan disclosures.

                   TITLE VI--INCENTIVES FOR BUSINESS

Sec. 601. Carryback of certain net operating losses allowed for 5 
              years; temporary suspension of 90 percent AMT limit.

       TITLE I--MODIFICATIONS ON USE OF QUALIFIED MORTGAGE BONDS

     SEC. 101. MODIFICATIONS ON USE OF QUALIFIED MORTGAGE BONDS; 
                   TEMPORARY INCREASED VOLUME CAP FOR CERTAIN 
                   HOUSING BONDS.

       (a) Use of Qualified Mortgage Bonds Proceeds for Subprime 
     Refinancing Loans.--Section 143(k) of the Internal Revenue 
     Code of 1986 (relating to other definitions and special 
     rules) is amended by adding at the end the following new 
     paragraph:
       ``(12) Special rules for subprime refinancings.--
       ``(A) In general.--Notwithstanding the requirements of 
     subsection (i)(1), the proceeds of a qualified mortgage issue 
     may be used to refinance a mortgage on a residence which was 
     originally financed by the mortgagor through a qualified 
     subprime loan.
       ``(B) Special rules.--In applying this paragraph to any 
     case in which the proceeds of a qualified mortgage issue are 
     used for any refinancing described in subparagraph (A)--
       ``(i) subsection (a)(2)(D)(i) shall be applied by 
     substituting `12-month period' for `42-month period' each 
     place it appears,
       ``(ii) subsection (d) (relating to 3-year requirement) 
     shall not apply, and
       ``(iii) subsection (e) (relating to purchase price 
     requirement) shall be applied by using the market value of 
     the residence at the time of refinancing in lieu of the 
     acquisition cost.
       ``(C) Qualified subprime loan.--The term `qualified 
     subprime loan' means an adjustable rate single-family 
     residential mortgage loan originated after December 31, 2001, 
     and before January 1, 2008, that the bond issuer determines 
     would be reasonably likely to cause financial hardship to the 
     borrower if not refinanced.
       ``(D) Termination.--This paragraph shall not apply to any 
     bonds issued after December 31, 2010.''.
       (b) Increased Volume Cap for Certain Bonds.--
       (1) In general.--Subsection (d) of section 146 of the 
     Internal Revenue Code of 1986 is amended by adding at the end 
     the following new paragraph:
       ``(5) Increase and set aside for housing bonds for 2008.--
       ``(A) Increase for 2008.--In the case of calendar year 
     2008, the State ceiling for each State shall be increased by 
     an amount equal to $10,000,000,000 multiplied by a fraction--
       ``(i) the numerator of which is the population of such 
     State (as reported in the most recent decennial census), and
       ``(ii) the denominator of which is the total population of 
     all States (as reported in the most recent decennial census).
       ``(B) Set aside.--
       ``(i) In general.--Any amount of the State ceiling for any 
     State which is attributable to an increase under this 
     paragraph shall be allocated solely for one or more qualified 
     purposes.
       ``(ii) Qualified purpose.--For purposes of this paragraph, 
     the term `qualified purpose' means--

       ``(I) the issuance of exempt facility bonds used solely to 
     provide qualified residential rental projects, or
       ``(II) a qualified mortgage issue (determined by 
     substituting `12-month period' for `42-month period' each 
     place it appears in section 143(a)(2)(D)(i)).''.

       (2) Carryforward of unused limitations.--Subsection (f) of 
     section 146 of such Code is amended by adding at the end the 
     following new paragraph:
       ``(6) Special rules for increased volume cap under 
     subsection (d)(5).--
       ``(A) In general.--No amount which is attributable to the 
     increase under subsection (d)(5) may be used--
       ``(i) for a carryforward purpose other than a qualified 
     purpose (as defined in subsection (d)(5)), and
       ``(ii) to issue any bond after calendar year 2010.
       ``(B) Ordering rules.--For purposes of subparagraph (A), 
     any carryforward of an issuing authority's volume cap for 
     calendar year 2008 shall be treated as attributable to such 
     increase to the extent of such increase.''.
       (c) Alternative Minimum Tax.--
       (1) In general.--Clause (ii) of section 57(a)(5)(C) of the 
     Internal Revenue Code of 1986 is amended by striking ``shall 
     not include'' and all that follows and inserting ``shall not 
     include--

       ``(I) any qualified 501(c)(3) bond (as defined in section 
     145), or
       ``(II) any qualified mortgage bond (as defined in section 
     143(a)) or qualified veterans' mortgage bond (as defined in 
     section 143(b)) issued after the date of the enactment of 
     this subclause and before January 1, 2011.''.

       (2) Conforming amendment.--The heading for section 
     57(a)(5)(C)(ii) is amended by striking ``qualified 501(c)(3) 
     bonds'' and inserting ``certain bonds''.
       (d) Effective Date.--The amendments made by this section 
     shall apply to bonds issued after the date of the enactment 
     of this title.

 TITLE II--EMERGENCY ASSISTANCE FOR THE REDEVELOPMENT OF ABANDONED AND 
                            FORECLOSED HOMES

     SEC. 201. EMERGENCY ASSISTANCE FOR THE REDEVELOPMENT OF 
                   ABANDONED AND FORECLOSED HOMES.

       (a) Direct Appropriations.--There shall be appropriated out 
     of any money in the Treasury not otherwise appropriated for 
     the

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     fiscal year 2008, $4,000,000,000, to remain available until 
     expended, for assistance to States and units of general local 
     government (as such terms are defined in section 102 of the 
     Housing and Community Development Act of 1974 (42 U.S.C. 
     5302)) for the redevelopment of abandoned and foreclosed 
     homes.
       (b) Allocation of Appropriated Amounts.--
       (1) In general.--The amounts appropriated or otherwise made 
     available to States and units of general local government 
     under this section shall be allocated based on a funding 
     formula established by the Secretary of Housing and Urban 
     Development.
       (2) Formula to be devised swiftly.--The funding formula 
     required under paragraph (1) shall be established not later 
     than 60 days after the date of enactment of this title.
       (3) Criteria.--The funding formula required under paragraph 
     (1) shall ensure that any amounts appropriated or otherwise 
     made available under this section are allocated to States and 
     units of general local government with the greatest need, as 
     such need is determined in the discretion of the Secretary 
     based on the following factors:
       (A) The number and percentage of home foreclosures in each 
     State or unit of general local government.
       (B) The number and percentage of homes financed by a 
     subprime mortgage related loan in each State or unit of 
     general local government.
       (C) The number and percentage of homes in default or 
     delinquency in each State or unit of general local 
     government.
       (4) Distribution.--Amounts appropriated or otherwise made 
     available to States and units of general local government 
     under this section shall be distributed according to the 
     funding formula required under paragraph (1) not later than 
     30 days after the establishment of such formula.
       (c) Use of Funds.--
       (1) In general.--Any State or unit of general local 
     government that receives amounts pursuant to this section 
     shall, not later than 18 months after the receipt of such 
     amounts, use such amounts to redevelop abandoned and 
     foreclosed homes.
       (2) Priority.--Any State or unit of general local 
     government that receives amounts pursuant to this section 
     shall in distributing such amounts give priority emphasis and 
     consideration to those metropolitan areas, metropolitan 
     cities, urban areas, rural areas, low- and moderate-income 
     areas, and other areas with the greatest need, including 
     those--
       (A) with the greatest percentage of home foreclosures;
       (B) with the highest percentage of homes financed by a 
     subprime mortgage related loan; or
       (C) identified by the State or unit of general local 
     government as likely to face a significant rise in the rate 
     of home foreclosures.
       (3) Eligible uses.--
       (A) In general.--Amounts made available under this section 
     may be used to--
       (i) make grants, loans, and other financing mechanisms to 
     community development financial institutions (as such term is 
     defined under section 103(5) of the Community Development 
     Banking and Financial Institutions Act of 1994 (12 U.S.C. 
     4702(5))), national intermediaries, and nonprofit housing or 
     community development organizations and others to purchase 
     and rehabilitate homes that have been abandoned or foreclosed 
     upon, in order to sell, rent, or redevelop such homes;
       (ii) establish financing mechanisms for redevelopment of 
     foreclosed upon homes, including such mechanisms as soft-
     seconds, loan loss reserves, and shared-equity loans for low- 
     and moderate-income homebuyers;
       (iii) purchase and rehabilitate homes that have been 
     abandoned or foreclosed upon, in order to sell, rent, or 
     redevelop such homes;
       (iv) establish land banks for homes that have been 
     foreclosed upon; and
       (v) demolish blighted structures.
       (B) Limitation.--Any funds used under this section for the 
     purchase of an abandoned or foreclosed upon home shall be at 
     a cost equal to or less than the appraised value of the home 
     based on the most up-to-date appraisal, as such appraisal is 
     defined by the Secretary.
       (d) Rule of Construction.--Amounts appropriated or 
     otherwise made available to States and units of general local 
     government under this section shall be treated as though such 
     funds were community development block grant funds under 
     title I of the Housing and Community Development Act of 1974.
       (e) Waiver Authority.--
       (1) In general.--In administering any amounts appropriated 
     or otherwise made available under this section, the Secretary 
     of Housing and Urban Development may waive, or specify 
     alternative requirements for, any provision of any statute or 
     regulation that the Secretary administers in connection with 
     the obligation by the Secretary or the use by the recipient 
     of such funds (except for requirements related to fair 
     housing, nondiscrimination, labor standards, and the 
     environment), in order to expedite or facilitate the use of 
     such funds.
       (2) Low and moderate income requirement.--Notwithstanding 
     the authority of the Secretary under paragraph (1), all of 
     the funds appropriated or otherwise made available under this 
     section shall be used with respect to persons whose income 
     does not exceed 120 percent of area median income.
       (f) Emergency Designation.--The amounts appropriated under 
     this title are designated as an emergency requirement and 
     necessary to meet emergency needs pursuant to section 204 of 
     S. Con. Res. 21 (110th Congress), the concurrent resolution 
     on the budget for fiscal year 2008.

                TITLE III--HOUSING COUNSELING RESOURCES

     SEC. 301. HOUSING COUNSELING RESOURCES.

       There shall be appropriated out of any money in the 
     Treasury not otherwise appropriated, for an additional amount 
     for the ``Neighborhood Reinvestment Corporation--Payment to 
     the Neighborhood Reinvestment Corporation'' $200,000,000,000, 
     to remain available until September 30, 2008, for foreclosure 
     mitigation activities under the terms and conditions 
     contained in the second paragraph under the heading 
     ``Neighborhood Reinvestment Corporation--Payment to the 
     Neighborhood Reinvestment Corporation'' of Public Law 110-
     161.

      TITLE IV--HELPING FAMILIES SAVE THEIR HOME IN BANKRUPTCY ACT

     SEC. 401. SHORT TITLE.

       This title may be cited as the ``Helping Families Save 
     Their Homes in Bankruptcy Act of 2008''.

                  Subtitle A--Minimizing Foreclosures

     SEC. 411. SPECIAL RULES FOR MODIFICATION OF LOANS SECURED BY 
                   RESIDENCES.

       (a) In General.--Section 1322(b) of title 11, United States 
     Code, is amended--
       (1) in paragraph (10), by striking ``and'' at the end;
       (2) by redesignating paragraph (11) as paragraph (12); and
       (3) by inserting after paragraph (10) the following:
       ``(11) notwithstanding paragraph (2) and otherwise 
     applicable nonbankruptcy law--
       ``(A) modify an allowed secured claim secured by the 
     debtor's principal residence, as described in subparagraph 
     (B), if, after deduction from the debtor's current monthly 
     income of the expenses permitted for debtors described in 
     section 1325(b)(3) of this title (other than amounts 
     contractually due to creditors holding such allowed secured 
     claims and additional payments necessary to maintain 
     possession of that residence), the debtor has insufficient 
     remaining income to retain possession of the residence by 
     curing a default and maintaining payments while the case is 
     pending, as provided under paragraph (5); and
       ``(B) provide for payment of such claim--
       ``(i) for a period not to exceed 30 years (reduced by the 
     period for which the loan has been outstanding) from the date 
     of the order for relief under this chapter; and
       ``(ii) at a rate of interest accruing after such date 
     calculated at a fixed annual percentage rate, in an amount 
     equal to the most recently published annual yield on 
     conventional mortgages published by the Board of Governors of 
     the Federal Reserve System, as of the applicable time set 
     forth in the rules of the Board, plus a reasonable premium 
     for risk; and''.
       (b) Conforming Amendment.--Section 1325(a)(5) of title 11, 
     United States Code, is amended by inserting before ``with 
     respect'' the following: ``except as otherwise provided in 
     section 1322(b)(11) of this title,''.

     SEC. 412. WAIVER OF COUNSELING REQUIREMENT WHEN HOMES ARE IN 
                   FORECLOSURE.

       Section 109(h) of title 11, United States Code, is amended 
     by adding at the end the following:
       ``(5) Paragraph (1) shall not apply with respect to a 
     debtor who files with the court a certification that a 
     foreclosure sale of the debtor's principal residence has been 
     scheduled.''.

             Subtitle B--Providing Other Debtor Protections

     SEC. 421. COMBATING EXCESSIVE FEES.

       Section 1322(c) of title 11, the United States Code, is 
     amended--
       (1) in paragraph (1), by striking ``and'' at the end;
       (2) in paragraph (2), by striking the period at the end and 
     inserting ``; and''; and
       (3) by adding at the end the following:
       ``(3) to the extent that an allowed secured claim is 
     secured by the debtor's principal residence, the value of 
     which is greater than the amount of such claim, fees, costs, 
     or charges arising during the pendency of the case may be 
     added to secured debt provided for by the plan only if--
       ``(A) notice of such fees, costs or charges is filed with 
     the court before the expiration of the earlier of--
       ``(i) 1 year after the time at which they are incurred; or
       ``(ii) 60 days before the conclusion of the case; and
       ``(B) such fees, costs, or charges are lawful, reasonable, 
     and provided for in the underlying contract;
       ``(4) the failure of a party to give notice described in 
     paragraph (3) shall be deemed a waiver of any claim for fees, 
     costs, or charges described in paragraph (3) for all 
     purposes, and any attempt to collect such fees, costs, or 
     charges shall constitute a violation of section 524(a)(2) of 
     this title or, if the violation occurs before the date of 
     discharge, of section 362(a) of this title; and
       ``(5) a plan may provide for the waiver of any prepayment 
     penalty on a claim secured by the principal residence of the 
     debtor.''.

     SEC. 422. MAINTAINING DEBTORS' LEGAL CLAIMS.

       Section 554(e) of title 11, United States Code, is amended 
     by adding at the end the following:

[[Page S983]]

       ``(e) In any action in State or Federal court with respect 
     to a claim or defense asserted by an individual debtor in 
     such action that was not scheduled under section 521(a)(1) of 
     this title, the trustee shall be allowed a reasonable time to 
     request joinder or substitution as the real party in 
     interest. If the trustee does not request joinder or 
     substitution in such action, the debtor may proceed as the 
     real party in interest, and no such action shall be dismissed 
     on the ground that it is not prosecuted in the name of the 
     real party in interest or on the ground that the debtor's 
     claims were not properly scheduled in a case under this 
     title.''.

     SEC. 423. RESOLVING DISPUTES.

       Section 1334 of title 28, United States Code, is amended by 
     adding at the end the following: ``Notwithstanding any 
     agreement for arbitration that is subject to chapter 1 of 
     title 9, in any core proceeding under section 157(b) of this 
     title involving an individual debtor whose debts are 
     primarily consumer debts, the court may hear and determine 
     the proceeding, and enter appropriate orders and judgments, 
     in lieu of referral to arbitration.''.

     SEC. 424. ENACTING A HOMESTEAD FLOOR FOR DEBTORS OVER 55 
                   YEARS OF AGE.

       (a) In General.--Section 522(b)(3) of title 11, United 
     States Code, is amended--
       (1) in subparagraph (B), by striking ``and'' at the end;
       (2) in subparagraph (C), by striking the period at the end 
     and inserting ``; and''; and
       (3) by adding at the end and inserting the following:
       ``(D) if the debtor, as of the date of the filing of the 
     petition, is 55 years old or older, the debtor's aggregate 
     interest, not to exceed $75,000 in value, in real property or 
     personal property that the debtor or a dependent of the 
     debtor uses as a principal residence, or in a cooperative 
     that owns property that the debtor or a dependent of the 
     debtor uses as a principal residence.''.
       (b) Exemption Authority.--Section 522(d)(1) of title 11, 
     United States Code, is amended by inserting ``or, if the 
     debtor is 55 years of age or older, $75,000 in value,'' 
     before ``in real property''.

     SEC. 425. DISALLOWING CLAIMS FROM VIOLATIONS OF CONSUMER 
                   PROTECTION LAWS.

       Section 502(b) of title 11, United States Code, is 
     amended--
       (1) in paragraph (8), by striking ``or'' at the end;
       (2) in paragraph (9), by striking the period at the end and 
     inserting ``; or''; and
       (3) by adding at the end the following:
       ``(10) the claim is subject to any remedy for damages or 
     rescission due to failure to comply with any applicable 
     requirement under the Truth in Lending Act (15 U.S.C. 1601 et 
     seq.), or any other provision of applicable State or Federal 
     consumer protection law that was in force when the 
     noncompliance took place, notwithstanding the prior entry of 
     a foreclosure judgment.''.

              TITLE V--MORTGAGE DISCLOSURE IMPROVEMENT ACT

     SEC. 501. SHORT TITLE.

       This title may be cited as the ``Mortgage Disclosure 
     Improvement Act of 2008''.

     SEC. 502. ENHANCED MORTGAGE LOAN DISCLOSURES.

       (a) Truth in Lending Act Disclosures.--Section 128(b)(2) of 
     the Truth in Lending Act (15 U.S.C. 1638(b)(2)) is amended--
       (1) by inserting ``(A)'' before ``In the'';
       (2) by striking ``a residential mortgage transaction, as 
     defined in section 103(w)'' and inserting ``any extension of 
     credit that is secured by the dwelling of a consumer'';
       (3) by striking ``shall be made in accordance'' and all 
     that follows through ``extended, or'';
       (4) by striking ``If the'' and all that follows through the 
     end of the paragraph and inserting the following:
       ``(B) In the case of an extension of credit that is secured 
     by the dwelling of a consumer, in addition to the other 
     disclosures required by subsection (a), the disclosures 
     provided under this paragraph shall--
       ``(i) state in conspicuous type size and format, the 
     following: `You are not required to complete this agreement 
     merely because you have received these disclosures or signed 
     a loan application.'; and
       ``(ii) be furnished to the borrower not later than 7 
     business days before the date of consummation of the 
     transaction, and at the time of consummation of the 
     transaction, subject to subparagraph (D).
       ``(C) In the case of an extension of credit that is secured 
     by the dwelling of a consumer, under which the annual rate of 
     interest is variable, or with respect to which the regular 
     payments may otherwise be variable, in addition to the other 
     disclosures required by subsection (a), the disclosures 
     provided under this paragraph shall--
       ``(i) label the payment schedule as follows: `Payment 
     Schedule: Payments Will Vary Based on Interest Rate Changes'; 
     and
       ``(ii) state the maximum amount of the regular required 
     payments on the loan, based on the maximum interest rate 
     allowed, introduced with the following language in 
     conspicuous type size and format: `Your payment can go as 
     high as ___', the blank to be filled in with the maximum 
     possible payment amount.
       ``(D) In any case in which the disclosure statement 
     provided 7 business days before the date of consummation of 
     the transaction contains an annual percentage rate of 
     interest that is no longer accurate, as determined under 
     section 107(c), the creditor shall furnish an additional, 
     corrected statement to the borrower, not later than 3 
     business days before the date of consummation of the 
     transaction.''.
       (b) Civil Liability.--Section 130(a) of the Truth in 
     Lending Act (15 U.S.C. 1640(a)) is amended--
       (1) in paragraph (2)(A)(iii), by striking ``not less than 
     $200 or greater than $2,000'' and inserting ``$5,000, such 
     amount to be adjusted annually based on the consumer price 
     index, to maintain current value''; and
       (2) in the penultimate sentence of the undesignated matter 
     following paragraph (4)--
       (A) by striking ``only for'' and inserting ``for'';
       (B) by striking ``section 125 or'' and inserting ``section 
     122, section 125,'';
       (C) by inserting ``or section 128(b),''after ``128(a),''; 
     and
       (D) by inserting ``or section 128(b)'' before the period.

                   TITLE VI--INCENTIVES FOR BUSINESS

     SEC. 601. CARRYBACK OF CERTAIN NET OPERATING LOSSES ALLOWED 
                   FOR 5 YEARS; TEMPORARY SUSPENSION OF 90 PERCENT 
                   AMT LIMIT.

       (a) In General.--Subparagraph (H) of section 172(b)(1) of 
     the Internal Revenue Code of 1986 is amended to read as 
     follows:
       ``(H) 5-year carryback of certain losses.--
       ``(i) Taxable years ending during 2001 and 2002.--In the 
     case of a net operating loss for any taxable year ending 
     during 2001 or 2002, subparagraph (A)(i) shall be applied by 
     substituting `5' for `2' and subparagraph (F) shall not 
     apply.
       ``(ii) Taxable years beginning or ending during 2006, 2007, 
     and 2008.--In the case of a net operating loss with respect 
     to any eligible taxpayer (within the meaning of section 
     168(k)(1)(B)) for any taxable year beginning or ending during 
     2006, 2007, or 2008--

       ``(I) subparagraph (A)(i) shall be applied by substituting 
     `5' for `2',
       ``(II) subparagraph (E)(ii) shall be applied by 
     substituting `4' for `2', and
       ``(III) subparagraph (F) shall not apply.''.

       (b) Temporary Suspension of 90 Percent Limit on Certain NOL 
     Carrybacks and Carryovers.--
       (1) In general.--Section 56(d) of the of the Internal 
     Revenue Code of 1986 is amended by adding at the end the 
     following new paragraph:
       ``(3) Additional adjustments.--For purposes of paragraph 
     (1)(A), in the case of an eligible taxpayer (within the 
     meaning of section 168(k)(1)(B)), the amount described in 
     clause (I) of paragraph (1)(A)(ii) shall be increased by the 
     amount of the net operating loss deduction allowable for the 
     taxable year under section 172 attributable to the sum of--
       ``(A) carrybacks of net operating losses from taxable years 
     beginning or ending during 2006, 2007, and 2008, and
       ``(B) carryovers of net operating losses to taxable years 
     beginning or ending during 2006, 2007, or 2008.''.
       (2) Conforming amendment.--Subclause (I) of section 
     56(d)(1)(A)(i) of such Code is amended by inserting ``amount 
     of such'' before ``deduction described in clause (ii)(I)''.
       (c) Anti-Abuse Rules.--The Secretary of Treasury or the 
     Secretary's designee shall prescribes such rules as are 
     necessary to prevent the abuse of the purposes of the 
     amendments made by this section, including anti-stuffing 
     rules, anti-churning rules (including rules relating to sale-
     leasebacks), and rules similar to the rules under section 
     1091 of the Internal Revenue Code of 1986 relating to losses 
     from wash sales.
       (d) Effective Dates.--
       (1) Subsection (a).--
       (A) In general.--Except as provided in subparagraph (B), 
     the amendments made by subsection (a) shall apply to net 
     operating losses arising in taxable years beginning or ending 
     in 2006, 2007, or 2008.
       (B) Election.--In the case of an eligible taxpayer (within 
     the meaning of section 168(k)(1)(B) of the Internal Revenue 
     Code of 1986) with a net operating loss for a taxable year 
     beginning or ending during 2006 or 2007--
       (i) any election made under section 172(b)(3) of the 
     Internal Revenue Code of 1986 may (notwithstanding such 
     section) be revoked before November 1, 2008, and
       (ii) any election made under section 172(j) of such Code 
     shall (notwithstanding such section) be treated as timely 
     made if made before November 1, 2008.
       (2) Subsection (b).--The amendments made by subsection (b) 
     shall apply to taxable years ending after December 31, 1995.

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