[Congressional Record (Bound Edition), Volume 151 (2005), Part 3]
[Senate]
[Pages 3207-3211]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           TEXT OF AMENDMENTS

  SA 28. Mr. KENNEDY proposed an amendment to the bill S. 256, to amend

[[Page 3208]]

title 11 of the United States Code, and for other purposes; as follows:

        On page 19, between lines 13 and 14, insert the following:
       ``(8)(A) No judge, United States trustee (or bankruptcy 
     administrator, if any), trustee, or other party in interest 
     may file a motion under paragraph (2) if the debtor is a 
     medically distressed debtor.
       ``(B) In this paragraph, the term `medically distressed 
     debtor' means a debtor who, in any consecutive 12-month 
     period during the 3 years before the date of the filing of 
     the petition--
       ``(i) had medical expenses for the debtor, a dependent of 
     the debtor, or a member of the debtor's household that were 
     not paid by any third party payor and were in excess of 25 
     percent of the debtor's household income for such 12-month 
     period;
       ``(ii) was a member of a household in which 1 or more 
     members (including the debtor) lost all or substantially all 
     of the member's employment or business income for 4 or more 
     weeks during such 12-month period due to a medical problem of 
     a member of the household or a dependent of the debtor; or
       ``(iii) was a member of a household in which 1 or more 
     members (including the debtor) lost all or substantially all 
     of the member's alimony or support income for 4 or more weeks 
     during such 12-month period due to a medical problem of a 
     person obligated to pay alimony or support.''.
                                 ______
                                 
  SA 29. Mr. KENNEDY proposed an amendment to the bill S. 256, to amend 
title 11 of the United States Code, and for other purposes; as follows:

        On page 191, between lines 11 and 12, insert the 
     following:

     SEC. 322A. EXEMPTION FOR MEDICALLY DISTRESSED DEBTORS.

       Section 522 of title 11, United States Code, as amended by 
     sections 224, 308, and 322, is amended by adding at the end 
     the following:
       ``(r)(1) For a debtor who is a medically distressed debtor, 
     if the debtor elects to exempt property--
       ``(A) under subsection (b)(2), then in lieu of the 
     exemption provided under subsection (d)(1), the debtor may 
     elect to exempt the debtor's aggregate interest, not to 
     exceed $150,000 in value, in real property or personal 
     property that the debtor or a dependent of the debtor uses as 
     a residence, in a cooperative that owns property that the 
     debtor or a dependent of the debtor uses as a residence, or 
     in a burial plot for the debtor or a dependent of the debtor; 
     or
       ``(B) under subsection (b)(3), then if the exemption 
     provided under applicable law specifically for such property 
     is for less than $150,000 in value, the debtor may elect in 
     lieu of such exemption to exempt the debtor's aggregate 
     interest, not to exceed $150,000 in value, in any such real 
     or personal property, cooperative, or burial plot.
       ``(2) In this subsection, the term `medically distressed 
     debtor' means a debtor who, in any consecutive 12-month 
     period during the 3 years before the date of the filing of 
     the petition--
       ``(A) had medical expenses for the debtor, a dependent of 
     the debtor, or a member of the debtor's household that were 
     not paid by any third party payor and were in excess of 25 
     percent of the debtor's household income for such 12-month 
     period;
       ``(B) was a member of a household in which 1 or more 
     members (including the debtor) lost all or substantially all 
     of the member's employment or business income for 4 or more 
     weeks during such 12-month period due to a medical problem of 
     a member of the household or a dependent of the debtor; or
       ``(C) was a member of a household in which 1 or more 
     members (including the debtor) lost all or substantially all 
     of the member's alimony or support income for 4 or more weeks 
     during such 12-month period due to a medical problem of a 
     person obligated to pay alimony or support.''.
                                 ______
                                 
  SA 30. Mr. CORNYN submitted an amendment intended to be proposed by 
him to the bill S. 256, to amend title 11 of the United States Code, 
and for other purposes; which was ordered to lie on the table; as 
follows:

        On page 213, strike lines 1 through 7, and insert the 
     following:

     SEC. 410. VENUE OF CERTAIN PROCEEDINGS.

       (a) Cure or Waiver of Defects.--Section 1406(c) of title 
     28, United States Code, is amended to read as follows:
       ``(c) As used in this section--
       ``(1) the term `district court'--
       ``(A) includes the District Court of Guam, the District 
     Court of the Northern Mariana Islands, and the District Court 
     of the Virgin Islands; and
       ``(B) with regard to cases pending before a bankruptcy 
     court, includes a bankruptcy court; and
       ``(2) the term `district' includes the territorial 
     jurisdiction of each district court.''.
       (b) Venue in Bankruptcy Cases.--Section 1408 of title 28, 
     United States Code, is amended--
       (1) by inserting ``(a)'' before ``Except'';
       (2) in paragraph (1), by striking ``or'' at the end; and
       (3) by striking paragraph (2) and inserting the following:
       ``(2) in which a case under title 11 concerning the 
     controlling corporation is pending, if--
       ``(A) the debtor is controlled by another corporation;
       ``(B) within the 730 days before the date of the debtor's 
     filing under title 11, the financial statements of the debtor 
     have been consolidated with those of the controlling 
     corporation in 1 or more reports filed under section 13 or 
     15(d) of the Securities Exchange Act of 1934; and
       ``(C) the controlling corporation is a debtor in a 
     proceeding under title 11; or
       ``(3) in which a case under title 11 concerning the 
     controlling corporation is pending, if--
       ``(A) the debtor is a corporation other than a corporation 
     described in paragraph (2);
       ``(B) the debtor has been controlled by another corporation 
     for not less than 365 days before the date of the filing of 
     the debtor's petition under title 11; and
       ``(C) the controlling corporation is a debtor in a 
     proceeding under title 11.
       ``(b) For purposes of subsection (a)--
       ``(1) if the debtor is a corporation, the domicile and 
     residence of the debtor are located where the debtor's 
     principal place of business is located; and
       ``(2) the term `control' has the meaning given that term in 
     section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 
     1841).''.
       (c) Venue in Bankruptcy Related Cases.--Section 1409(b) of 
     title 28, United States Code, is amended by striking ``or a 
     consumer debtor of less than $5,000'' and inserting ``, a 
     consumer debt of less than $15,000, or a debt (excluding a 
     consumer debt) against a noninsider of less than $10,000,''.
                                 ______
                                 
  SA 31. Mr. DAYTON proposed an amendment to the bill S. 256, to amend 
title 11 of the United States Code, and for other purposes; as follows:

        At the appropriate place, insert the following:

     SEC. __. TERMS OF CONSUMER CREDIT.

       (a) Cap on Interest Chargeable.--A creditor who extends 
     credit to any consumer shall not impose a rate of interest in 
     excess of an annual rate of 30 percent with respect to the 
     credit extended.
       (b) Preemption of State Law.--The provisions governing 
     rates of interest under subsection (a) shall preempt all 
     State usury laws.
       (c) Exemption to Preemption.--If a State imposes a limit on 
     the rate of interest chargeable to an extension of credit 
     that is less than the limit imposed under subsection (a), 
     that State law shall not be preempted and shall remain in 
     full force and effect in that State.
                                 ______
                                 
  SA 32. Mr. CORZINE (for himself, Ms. Mikulski, and Mr. Lautenberg) 
proposed an amendment to the bill S. 256, to amend title 11 of the 
United States Code, and for other purposes; as follows:

        On page 19, strike line 13, and insert the following:

     monthly income.
       ``(8) No judge, United States trustee (or bankruptcy 
     administrator, if any), trustee, or other party in interest 
     may file a motion under paragraph (2) if the debtor is an 
     economically distressed caregiver.''.
       On page 113, between lines 19 and 20, insert the following:
       (4) by inserting after paragraph (14A), as added by this 
     Act, the following:
       ``(14B) `economically distressed caregiver' means a 
     caregiver who, in any consecutive 12-month period during the 
     3 years before the date of the filing of the petition--
       ``(A) experienced a reduction in employment for not less 
     than 1 month to care for a family member, including a spouse, 
     child, sibling, parent, grandparent, aunt, or uncle; or
       ``(B) who has incurred medical expenses on behalf of a 
     family member, including a spouse, child, sibling, parent, 
     grandparent, aunt, or uncle, that were not paid by any third 
     party payer and were in excess of the lessor of--
       ``(i) 25 percent of the debtor's household income for such 
     12-month period; or
       ``(ii) $10,000.''; and
       (5) by inserting after paragraph (44), the following:
       ``(44A) `reduction in employment' means a downgrade in 
     employment status that correlates to a reduction in wages, 
     work hours, or results in unemployment.''.
                                 ______
                                 
  SA 33. Mr. SCHUMER submitted an amendment intended to be proposed by 
him to the bill S. 256, to amend title 11 of the United States Code, 
and for other purposes; which was ordered to lie on the table; as 
follows:

       On page 505, after line 13, add the following:

             TITLE XVI--PERSONAL DATA OFFSHORING PROTECTION

     SEC. 1601. SHORT TITLE.

       This title may be cited as the ``Personal Data Offshoring 
     Protection Act of 2005''.

     SEC. 1602. DEFINITIONS.

        As used in this title, the following definitions apply:

[[Page 3209]]

       (1) Business enterprise.--The term ``business enterprise'' 
     means any organization, association, or venture established 
     to make a profit, or any private, nonprofit organization that 
     collects or retains personally identifiable information.
       (2) Country with adequate privacy protection.--The term 
     ``country with adequate privacy protection'' means a country 
     that has been certified by the Federal Trade Commission as 
     having a legal system that provides adequate privacy 
     protection for personally identifiable information.
       (3) Personally identifiable information.--The term 
     ``personally identifiable information'' includes information 
     such as--
       (A) name;
       (B) postal address;
       (C) financial information;
       (D) medical records;
       (E) date of birth;
       (F) phone number;
       (G) e-mail address;
       (H) social security number;
       (I) mother's maiden name;
       (J) password;
       (K) state identification information;
       (L) driver's license number;
       (M) personal tax information; and
       (N) any consumer transactional or experiential information 
     relating to the person.
       (4) Transmit.--The term ``transmit'' or ``transmission'' 
     means the use of any instrumentality of interstate commerce, 
     including the mails or any electronic means, to transfer 
     information or to provide access to such information via the 
     Internet or any comparable telecommunications system.

     SEC. 1603. PROTECTION OF PERSONALLY IDENTIFIABLE INFORMATION 
                   FROM UNAUTHORIZED TRANSMISSION.

       (a) In General.--A business enterprise may transmit 
     personally identifiable information regarding a citizen of 
     the United States to any foreign affiliate or subcontractor 
     located in a country that is a country with adequate privacy 
     protection, provided that the citizen has been provided prior 
     notice that such information may be transmitted to such a 
     foreign affiliate or subcontractor and has not objected to 
     such transmission.
       (b) ``Opt-In'' Consent Required for Countries Without 
     Adequate Privacy Protection.--A business enterprise may not 
     transmit personally identifiable information regarding a 
     citizen of the United States to any foreign affiliate or 
     subcontractor located in a country that is a country without 
     adequate privacy protection unless--
       (1) the business enterprise discloses to the citizen that 
     the country to which the information will be transmitted does 
     not have adequate privacy protection and specifies in the 
     disclosure the country to which the information will be 
     transmitted;
       (2) the business enterprise obtains consent from the 
     citizen, before a consumer relationship is established or 
     before the effective date of this title, to transmit such 
     information to such foreign affiliate or subcontractor and 
     such consent contains a list that indicates each country to 
     which the information will be sent; and
       (3) the consent referred to in paragraph (2) is renewed by 
     the citizen within 1 year before such information is 
     transmitted.
       (c) Prohibition on Refusal to Provide Services.--A business 
     enterprise shall not deny the provision of any good or 
     service to, nor change the terms of or refuse to enter into a 
     business relationship with any person based upon that 
     person's exercise of the consent rights provided for in this 
     title or in any other applicable law.

     SEC. 1604. ENFORCEMENT BY THE FEDERAL TRADE COMMISSION.

       (a) Unfair and Deceptive Act or Practice.--A violation of 
     this title shall be treated as a violation of a rule defining 
     an unfair or deceptive act or practice prescribed under 
     section 18(a)(1)(B) of the Federal Trade Commission Act (15 
     U.S.C. 57a(a)(1)(B)).
       (b) Enforcement Authority.--The Federal Trade Commission 
     shall enforce this title in the same manner, by the same 
     means, and with the same jurisdiction, powers, and duties as 
     though all applicable terms and provisions of the Federal 
     Trade Commission Act (15 U.S.C. 41 et seq.) were incorporated 
     into and made a part of this title.

     SEC. 1605. CIVIL REMEDIES.

       (a) Private Right of Action.--A person or entity may, if 
     otherwise permitted by the laws or rules of court of a State, 
     bring in an appropriate court of that State--
       (1) an action based on a violation of this title or the 
     regulations prescribed pursuant to this title to enjoin such 
     violation;
       (2) an action to recover for actual monetary loss from such 
     a violation, or to receive $10,000 in damages for each such 
     violation, whichever is greater, or
       (3) both such actions.

     If the court finds that the defendant willfully or knowingly 
     violated this subsection or the regulations prescribed under 
     this subsection, the court may, in its discretion, increase 
     the amount of the award to an amount equal to not more than 3 
     times the amount available under paragraph (2).
       (b) Actions by States.--
       (1) Authority of states.--Whenever the attorney general of 
     a State, or an official or agency designated by a State, has 
     reason to believe that any person has engaged or is engaging 
     in a violation of this title or the regulations prescribed 
     pursuant to this title, the State may bring a civil action on 
     behalf of its residents to enjoin such violation, an action 
     to recover for actual monetary loss or receive $10,000 in 
     damages for each violation, or both such actions. If the 
     court finds the defendant willfully or knowingly violated 
     this title or regulations prescribed pursuant to this title, 
     the court may, in its discretion, increase the amount of the 
     award to an amount equal to not more than 3 times the amount 
     available under the preceding sentence.
       (2) Exclusive jurisdiction of federal courts.--The district 
     courts of the United States, the United States courts of any 
     territory, and the District Court of the United States for 
     the District of Columbia shall have exclusive jurisdiction 
     over all civil actions brought under this subsection. Upon 
     proper application, such courts shall also have jurisdiction 
     to issue writs of mandamus, or orders affording like relief, 
     commanding the defendant to comply with the provisions of 
     this title or regulations prescribed pursuant to this title, 
     including the requirement that the defendant take such action 
     as is necessary to remove the danger of such violation. Upon 
     a proper showing, a permanent or temporary injunction or 
     restraining order shall be granted without bond.
       (3) Notice to an intervention of federal trade 
     commission.--The State bringing a civil action under this 
     section shall serve prior written notice of any such civil 
     action upon the Federal Trade Commission and provide the 
     Commission with a copy of its complaint, except in any case 
     where such prior notice is not feasible, in which case the 
     State shall serve such notice immediately upon instituting 
     such action. The Commission shall have the right--
       (A) to intervene in the action;
       (B) upon so intervening, to be heard on all matters arising 
     therein; and
       (C) to file petitions for appeal.
       (4) Venue; service of process.--Any civil action brought 
     under this subsection in a district court of the United 
     States may be brought in the district wherein the defendant 
     is found or is an inhabitant or transacts business or wherein 
     the violation occurred or is occurring, and process in such 
     cases may be served in any district in which the defendant is 
     an inhabitant or where the defendant may be found.
       (5) Investigatory powers.--For purposes of bringing any 
     civil action under this subsection, nothing in this title 
     shall prevent the attorney general of a State, or an official 
     or agency designated by a State, from exercising the powers 
     conferred on the attorney general or such official by the 
     laws of such State to conduct investigations or to administer 
     oaths or affirmations or to compel the attendance of 
     witnesses or the production of documentary and other 
     evidence.
       (6) Effect on state court proceedings.--Nothing contained 
     in this section shall be construed to prohibit an authorized 
     State official from proceeding in State court on the basis of 
     an alleged violation of any general civil or criminal statute 
     of such State.
       (7) Limitation.--Whenever the Federal Trade Commission has 
     instituted a civil action for violation of this title or the 
     regulations prescribed pursuant to this title, no State may, 
     during the pendency of such action instituted by the 
     Commission, subsequently institute a civil action against any 
     defendant named in the Commission's complaint for any 
     violation as alleged in the Commission's complaint.

     SEC. 1606. CERTIFICATION OF COUNTRIES WITH ADEQUATE PRIVACY 
                   PROTECTION.

       (a) In General.--Not later than 6 months after the date of 
     enactment of this title, the Federal Trade Commission, after 
     providing notice and opportunity for public comment, shall--
       (1) certify those countries that have legal systems that 
     provide adequate privacy protection for personally 
     identifiable information; and
       (2) make the list of countries certified under paragraph 
     (1) available to the general public.
       (b) Certification Criteria.--
       (1) In general.--In determining whether a country should be 
     certified under this section, the Federal Trade Commission 
     shall consider the adequacy of the country's infrastructure 
     for detecting, evaluating, and responding to privacy 
     violations.
       (2) Presumption.--The Commission shall presume that a 
     country's privacy protections are inadequate if they are any 
     less protective of personally identifiable information than 
     those afforded under Federal law or under the laws of any 
     State, or if the Commission determines that such country's 
     laws are not adequately enforced.
       (c) European Union Date Protection Directive.--A country 
     that has comprehensive privacy laws that meet the 
     requirements of the European Union Data Protection Directive 
     shall be certified under this section unless the Federal 
     Trade Commission determines that such laws are not commonly 
     enforced within such country.

     SEC. 1607. EFFECTIVE DATE.

       Section 1606 of this title shall take effect on the date of 
     enactment of this title. Sections 1602 through 1605 of this 
     title shall take effect 60 days after the completion of the 
     certification required by section 1606.

[[Page 3210]]


                                 ______
                                 
  SA 34. Mr. SCHUMER submitted an amendment intended to be proposed by 
him to the bill S. 256, to amend title 11 of the United States Code, 
and for other purposes; which was ordered to lie on the table; as 
follows:

        On page 132, between lines 5 and 6, insert the following:

     SEC. 234. PROHIBITION OF UNNECESSARY SOLICITATION OF SOCIAL 
                   SECURITY NUMBERS.

       (a) In General.--No person may solicit any social security 
     number unless--
       (1) such number is necessary in the normal course of 
     business; and
       (2) there is a specific use of the social security number 
     for which no other identifying number can be used.
       (b) Violation.--
       (1) In general.--The Federal Trade Commission may bring a 
     civil action based on a violation of this section.
       (2) Penalty.--A civil penalty of not more than $10,000 may 
     be imposed for each violation of this section.
       (c) Enforceable.--The Federal Trade Commission shall 
     enforce the provisions of this section.
                                 ______
                                 
  SA 35. Mr. NELSON of Nebraska submitted an amendment intended to be 
proposed by him to the bill S. 256, to amend title 11 of the United 
States Code, and for other purposes; which was ordered to lie on the 
table; as follows:

        On page 244, after line 22, add the following:

     SEC. 448. COMPENSATION OF BANKRUPTCY TRUSTEES.

       (a) In General.--Section 330(b)(2) of title 11, United 
     States Code, is amended--
       (1) by striking ``$15'' the first place it appears and 
     inserting ``$55''; and
       (2) by striking ``rendered.'' and all that follows through 
     ``$15'' and inserting ``rendered, which''.
       (b) Effective Date.--The amendments made by subsection 
     (a)--
       (1) shall take effect 90 days after the date of enactment 
     of this Act; and
       (2) shall only apply to cases commenced under title 11, 
     United States Code, after such effective date.
                                 ______
                                 
  SA 36. Mr. KOHL submitted an amendment intended to be proposed by him 
to the bill S. 256, to amend title 11 of the United States Code, and 
for other purposes; which was ordered to lie on the table; as follows:

        On page 188, strike line 14 and all that follows through 
     page 191, line 11, and insert the following:

     SEC. 322. LIMITATIONS ON HOMESTEAD EXEMPTION.

       (a) Exemption.--Section 522 of title 11, United States 
     Code, as amended by sections 224 and 308, is further amended 
     by adding at the end the following:
       ``(p) As a result of electing under subsection (b)(3)(A) to 
     exempt property, other than the principal residence of a 
     family farmer, under State or local law, a debtor may not 
     exempt any amount of interest that exceeds, in the aggregate, 
     $125,000 in value in--
       ``(1) real or personal property that the debtor or a 
     dependent of the debtor uses as a residence;
       ``(2) a cooperative that owns property that the debtor or a 
     dependent of the debtor uses as a residence; or
       ``(3) a burial plot for the debtor or a dependent of the 
     debtor.''.
       (b) Adjustment of Dollar Amounts.--Paragraphs (1) and (2) 
     of section 104(b) of title 11, United States Code, as amended 
     by section 224, are further amended by inserting ``522(p),'' 
     after ``522(n)''.
                                 ______
                                 
  SA 37. Mr. NELSON of Florida (for himself, Mr. Durbin, Mr. Schumer, 
and Mrs. Clinton) proposed an amendment to the bill S. 256, to amend 
title 11 of the United States Code, and for other purposes; as follows:

        At the appropriate place, insert the following:

     SEC. __. IDENTITY THEFT.

       (a) Definition.--Section 101 of title 11, United States 
     Code, as amended by this Act, is further amended--
       (1) by redesignating paragraph (27B) as paragraph (27D); 
     and
       (2) by inserting after paragraph (27A) the following:
       ``(27B) `identity theft' means a fraud committed or 
     attempted using the personally identifiable information of 
     another person;
       ``(27C) `identity theft victim' means a debtor who, as a 
     result of an identify theft in any consecutive 12-month 
     period during the 3-year period before the date on which a 
     petition is filed under this title, had claims asserted 
     against such debtor in excess of the least of--
       ``(A) $20,000;
       ``(B) 50 percent of all claims asserted against such 
     debtor; or
       ``(C) 25 percent of the debtor's gross income for such 12-
     month period.''.
       (b) Prohibition.--Section 707(b) of title 11, United States 
     Code, as amended by section 102(a) of this Act, is further 
     amended by adding at the end the following:
       ``(8)(A) No judge, United States trustee (or bankruptcy 
     administrator, if any), trustee, or other party in interest 
     may file a motion under paragraph (2) if the debtor is an 
     identity theft victim.''.
                                 ______
                                 
  SA 38. Mr. DURBIN proposed an amendment to the bill S. 256, to amend 
title 11 of the United States Code, and for other purposes; as follows:

       On page 67, between lines 18 and 19, insert the following:

     SEC. 206. DISCOURAGING PREDATORY LENDING PRACTICES.

       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) if the creditor has materially failed to comply with 
     any applicable requirement under section 129(a) of the Truth 
     in Lending Act (15 U.S.C. 1639(a)) or section 226.32 or 
     226.34 of Regulation Z (12 C.F.R. 226.32, 226.34), such claim 
     is based on a secured debt.''.
                                 ______
                                 
  SA 39. Mr. KERRY submitted an amendment intended to be proposed by 
him to bill S. 256, to amend title 11 of the United States Code, and 
for other purposes; which was ordered to lie on the table; as follows:

       Add at the end the following:

 TITLE XVI--BENEFITS FOR MEMBERS OF THE ARMED FORCES AND THEIR FAMILIES

     SEC. 1601. EXTENSION OF PERIOD OF TEMPORARY CONTINUATION OF 
                   BASIC ALLOWANCE FOR HOUSING FOR DEPENDENTS OF 
                   MEMBERS OF THE ARMED FORCES WHO DIE ON ACTIVE 
                   DUTY.

       Section 403(l) of title 37, United States Code, is amended 
     by striking ``180 days'' each place it appears and inserting 
     ``365 days''.

     SEC. 1602. GRANT ASSISTANCE FOR MILITARY RESERVISTS' SMALL 
                   BUSINESSES.

       (a) Authorization of Grants.--Section 7(b)(3)(B) of the 
     Small Business Act (15 U.S.C. 636(b)(3)(B)) is amended by 
     inserting ``or grants'' after ``or a deferred basis)''.
       (b) Grant Specifications.--Section 7(b)(3) of the Small 
     Business Act (15 U.S.C. 636(b)(3)) is amended by inserting 
     after subparagraph (F) the following:
       ``(G) Grants made under subparagraph (B)--
       ``(i) may be awarded in addition to any loan made under 
     subparagraph (B);
       ``(ii) shall not exceed $25,000; and
       ``(iii) shall be made only to a small business concern--
       ``(I) that provides a business plan demonstrating viability 
     for not less than 3 future years;
       ``(II) with 10 or fewer employees;
       ``(III) that has not received another grant under 
     subparagraph (B) in the previous 2 years.''.
       (c) Authorization of Appropriations.--Section 20(e)(2) of 
     the Small Business Act (15 U.S.C. 631 note) is amended by 
     inserting after subparagraph (B) the following:
       ``(C) Grant assistance for military reservists' small 
     businesses.--There are authorized to be appropriated for 
     grants under section 7(b)(3)(B)--
       ``(i) $10,000,000 for the first fiscal year beginning after 
     the date of enactment of this subparagraph; and
       ``(ii) $10,000,000 for each of the 2 fiscal years following 
     the fiscal year described in clause (i).''.
                                 ______
                                 
  SA 40. Mr. PRYOR submitted an amendment intended to be proposed by 
him to the bill S. 256, to amend title 11 of the United States Code, 
and for other purposes; which was ordered to lie on the table; as 
follows:

        At the appropriate place, insert the following:

     SEC. __. LIMITATION ON USE OF CONSUMER REPORTS.

       (a) In General.--Section 604(d) of the Fair Credit 
     Reporting Act (15 U.S.C. 1681b(d)) is amended to read as 
     follows:
       ``(d) Limitation on Use of Consumer Report.--
       ``(1) In general.--A credit card issuer may not use any 
     negative information contained in a consumer report to 
     increase any annual percentage rate applicable to a credit 
     card account, or to remove or increase any introductory 
     annual percentage rate of interest applicable to such 
     account, for any reason other than an action or omission of 
     the card holder that is directly related to such account.
       ``(2) Notice to consumer.--The limitation under paragraph 
     (1) on the use by a credit card issuer of information in a 
     consumer report shall be clearly and conspicuously described 
     to the consumer by the credit card issuer in any disclosure 
     or statement required to be made to the consumer under this 
     title.''.

[[Page 3211]]

       (b) Technical and Conforming Amendment.--Section 
     604(a)(3)(F)(ii) of the Fair Credit Reporting Act (15 U.S.C. 
     1681b(a)(3)(F)(ii)) is amended by inserting ``subject to 
     subsection (d),'' before ``to review''.
                                 ______
                                 
  SA 41. Mr. KERRY submitted an amendment intended to be proposed by 
him to the bill S. 256, to amend title 11 of the United States Code, 
and for other purposes; which was ordered to lie on the table; as 
follows:

        At the appropriate place, insert the following:

     SEC. __. ENHANCED DISCLOSURES UNDER AN OPEN END CONSUMER 
                   CREDIT PLAN.

       (a) Repayment Terms.--Section 127(b) of the Truth in 
     Lending Act (15 U.S.C. 1637(b)) is amended by adding at the 
     end the following:
       ``(11)(A) Repayment information that would apply to any 
     annual percentage rate applicable to the consumer's account 
     under the credit plan, including information regarding any 
     change in any annual percentage rate charged to the consumer 
     under the plan, appearing in conspicuous type on the front of 
     the first page of the first billing statement prepared 
     following the change, and accompanied by an appropriate 
     explanation, containing--
       ``(i) the words `THERE HAS BEEN A CHANGE IN THE ANNUAL 
     PERCENTAGE RATE FOR YOUR ACCOUNT.';
       ``(ii) the words `THE PREVIOUS INTEREST RATE:' followed by 
     the previous annual percentage rate charged to the consumer 
     under the plan; and
       ``(iii) the words `THE CURRENT INTEREST RATE' followed by 
     the current annual percentage rate charged to the consumer 
     under the plan.''.
       (b) Publication of Model Forms.---Not later than 180 days 
     after the date of enactment of this Act, the Board of 
     Governors of the Federal Reserve System shall publish model 
     disclosure forms in accordance with section 105 of the Truth 
     in Lending Act for the purpose of compliance with section 
     127(b)(11) of the Truth in Lending Act, as added by this 
     section.

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